The Sea Change Trust
(Registered Charity Number 1181866)
Unaudited
Trustees Report and Accounts
Year ended 31[st] December 2024
THE SEA CHANGE TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2��� |
| Independent Examiner's Report | � |
| Statement of Financial Activities | �� |
| Statement of Financial Position | �� to �� |
| Notes to the Financial Statements | �� to �� |
THE SEA CHANGE TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024
Charity registration number 1181866 Registered Company number CE016399 ������������������� Registered office address The Sea Change Trust 8 & 9 Victoria Mews St. Austins Friars Shrewsbury SY1 1RY Accountants TCA (Shrewsbury) LLP Third Floor 21 St Mary’s Street Shrewsbury Shropshire SY1 1ED Bankers Coop Bank Trustees Emma Alexander (resigned 12[th] February 2024) Paul Andrews Paul Dyson (Chair) ����������������������������������������� Alice O’Connor (appointed 6[th] December 2024) Catherine Shaw (resigned 6[th] December 2024) Richard Turner (appointed 26[th] September 2024) Dr Gillian Goodwillie (resigned 4th July 2024)
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THE SEA CHANGE TRUST
���������������� FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees of The Sea Change Trust are pleased to present their annual report, which outlines the activities, impact, and achievements of the charity for the year ending 31st December 2024.
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
1.�INTRODUCTION
The Sea Change Trust is a Shropshire-based charity offering specialist psychological support to� children, young people, and families, particularly those who are vulnerable, marginalised, or� unable to access other services. Founded in 2019 by local child and family therapists, the charity� was established in response to a growing gap in accessible, early mental health intervention – especially in rural communities where services have been significantly reduced.
Our work is shaped by a strong commitment to therapeutic excellence, community collaboration, and long-term emotional wellbeing. We believe that timely, sensitive support can have a lifechanging impact – whether during the early years, through key transition points such as adolescence, or within family relationships that have been strained by trauma or adversity.
Everything we do is rooted in our unwavering vision and mission:
Our Vision
A future where young minds are supported and empowered at the time of need.
Our Mission
To transform young futures through specialist therapeutic support.
We aim to achieve our mission and vision by:
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Ensuring parents or carers, children and young people get the best possible mental health support to overcome life’s challenges, through specialist psychological intervention to those whose needs are not being met by current services
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Providing the best psychotherapeutic support in a caring, professional environment where we will give help to our clients whatever their financial means, background or status
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Working together with other professionals to make a real difference and to have a positive impact on mental health in Shropshire
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Prioritising equality, diversity and inclusion in all our projects
Our overriding aims are:
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To increase engagement with local services including our own
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To strengthen connections within families, between individuals and within communities
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To help with recovery from trauma
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THE SEA CHANGE TRUST
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2.�OBJECTIVES AND PUBLIC BENEFIT
a.�Our objects as set out in our constitution are:
To promote and protect the mental health of children and their parents or carers in Shropshire� and surrounding counties through, but not exclusively, the provision of psychotherapeutic� services.
To advance the education of parents, carers and professionals responsible for the care and education of children who need psychotherapeutic services, by the provision of specialist training in related subjects.
b.�Public Benefit Statement
We provide psychological support to children, families, and individuals in our community who might otherwise struggle to access the support they need, regardless of financial means, background, or status. Our work delivers tangible benefits to children, young people, families, carers, and professionals responsible for the care and education of children.
Our beneficiaries include:
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Children, young people, and families - Our services reduce isolation, promote emotional and mental well-being, and foster greater self-awareness and understanding. They help to strengthen relationships and build resilience within families
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Carers and professionals - We offer a safe and reflective space for carers and professionals to explore the challenges they face in their roles. This enhances their capacity to support others while also protecting their own well-being
Wider public benefit includes:
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The broader community - By reducing anxiety, loneliness, and emotional distress, our support enables individuals to engage more confidently and actively within their communities
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Healthcare systems - Early psychological support helps to prevent escalation of mental health difficulties, reducing the need for more intensive or specialist interventions and easing pressure on public health services.
3.�ACHIEVEMENTS AND PERFORMANCE
In 2024, The Sea Change Trust has continued to deliver vital specialist psychological support� across Shropshire and Telford, with a particular focus on perinatal and infant mental health, early� years, young people, and families experiencing complex emotional needs. The majority of our� services remain free at the point of access and prioritise those unable to access or afford� traditional therapeutic support.
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THE SEA CHANGE TRUST
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Early Years and Infant Mental Health
We expanded our community-based support for parents and young children through our Reaching Vulnerable Children and Perinatal and Infant Mental Health Projects, funded by the National Lottery and Best Start for Life (Telford & Wrekin).
In 2024 we delivered:
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373 sessions across drop-in groups and 1:1 ‘Listening Space’ therapy
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984 parents and carers attended drop-in group
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283 babies and children benefitted directly from attendance
Key delivery locations included:
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Bell Tent Drop-In (Shrewsbury): 40 sessions, 356 parents/carers and 135 children
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Pontesbury Pavilion Hub: 36 sessions, 347 parents/carers and 56 children
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Telford Family Hubs (Leegomery, Southwater Library, Jubilee House, Gurdwara Temple): 61 sessions, 257 parents/carers and 79 children
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Listening Space Therapy: 23 sessions for 120 parents/carers and 24 children
Feedback from participants emphasised the critical role of these safe, therapeutic spaces:
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“A safe space to be heard and feel like someone actually cares...”
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“I have formed friendships that I keep in contact with... I appreciate the therapists and the charity for their support.”
Young Adults Support (YAS)
Our Young Adults Support (YAS) project provided essential therapeutic intervention for 170 young people facing a range of challenges, from anxiety and low mood to autism and emotional burnout.
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52 group sessions held
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151 group participants
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19 received individual therapy
Outcomes reported by participants:
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86% showed improved emotional regulation and interpersonal relationships
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71% reported increased confidence and engagement with their communities
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Participants shared:
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“This project has helped me open up to others and feel more comfortable talking about my feelings.”
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THE SEA CHANGE TRUST
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The Rose Fund – Subsidised Psychotherapy
The Rose Fund continued to address gaps in provision for those in need of longer-term therapeutic work, especially where financial barriers exist. In 2024:
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481 individual psychotherapy sessions delivered
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Beneficiaries included children, young people, and parents
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Therapies included art psychotherapy, analytic psychotherapy, and therapeutic parenting support
This flexible, in-depth model helped clients access support at the level and pace they required.
FUTURE PLANS
Future Plans (Next 12 Months)
Over the coming year, The Sea Change Trust will continue to build on its strong foundations and the positive impact achieved across its programmes to date. Our focus will be on sustaining and growing our core areas of work while further strengthening the organisation’s infrastructure and long-term sustainability. As ever, our priority is to consider the needs of those who are most vulnerable or isolated.
Early Years:
We aim to sustain and grow our early years provision, ensuring that families with babies and young children continue to have access to safe, creative and therapeutic spaces in their local communities. Building on the success of our group sessions, we plan to extend our reach to more families and further embed our model of early, accessible emotional support.
The Family Hubs funding for our work in Telford will be coming to an end, so we will take time to review the interventions we’ve been able to offer there and decide how best to take work forward in this area in future. The Reaching Vulnerable Children funding through the National Lottery will continue to support our work in Shrewsbury and Pontesbury and we will be considering how best to sustain the drop-ins and Listening Space service beyond the existing funding stream.
Young Adults:
Our aim is that our work with vulnerable young adults will continue to develop, responding to the increasing demand for therapeutic and relational support for those navigating transitions into adulthood. We intend to build on our existing partnerships and explore new opportunities to provide group and one-to-one interventions tailored to this age group.
We are working with several young adults who have come to us through the Young Adults Service this year, and have ideas about ways of engaging this vulnerable age group within the community which we will be working on in the coming months.
Subsidised Psychotherapy:
We will continue to offer subsidised psychotherapy, ensuring that high-quality, specialist mental health support remains accessible to those who would not otherwise be able to afford it. A priority
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THE SEA CHANGE TRUST
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FOR THE YEAR ENDED 31 DECEMBER 2024
for the coming year is to maintain and, where possible, expand this offer through a mixed funding model.
Fundraising and Sustainability:
The charity is actively working to grow and diversify its fundraising base. Over the next 12 months, we will continue to strengthen our trust and foundation applications, develop community and corporate fundraising, and explore new income-generating opportunities. These steps will help ensure the sustainability of our therapeutic services and reduce reliance on any single source of income.
Systems and Infrastructure:
A key focus for the year ahead is the implementation of our new Customer Relationship Management (CRM) system, which is currently being developed. The first phase will be operational soon and will help the charity to manage referrals, monitor outcomes, and improve communication with stakeholders more efficiently. Once fully implemented, the CRM will provide valuable insights into our impact, strengthen data management, and support the long-term development of our services.
Website
Our new website has been under development this year, in partnership with Sea Change Psychotherapy and Reech Marketing. We look forward to it’s launch imminently.
New Projects and Opportunities:
The Sea Change Trust remains open to new projects and opportunities that align with our charitable aims. We recognise the value of collaboration and innovation, and will continue to explore partnerships and pilot initiatives that help us respond to emerging community needs and enhance our reach and impact.
Through these plans, The Sea Change Trust will continue to work towards its vision of a world where the emotional and psychological needs of children, young people and families are met through timely, effective, and compassionate support within their own communities. We look forward to these and other developments with hope and curiosity.
4.�STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Methods used to recruit and appoint new trustees
As set out in our constitution, dated 1st August 2018, Trustees are appointed for a fixed term. In selecting individuals for appointment as Trustees, the Trustees must consider the skills, knowledge and experience needed for the effective administration of The Sea Change Trust. An annual skills analysis ensures the Trustees offer a suitable range of knowledge and skills to support the charity.
New Trustees are recruited openly in line with The Sea Change Trust’s Trustee Recruitment Policy and receive a full induction to the charity.
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THE SEA CHANGE TRUST
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5. Financial Review
The Trustees are pleased to report that in the financial year ending 31[st] December 2024 our income for the year was £412,839.
This was an increase of £126,683 from the previous year (2023: £286,156) due to an increase in grant income and the timings at which these were received. The demand for The Sea Change Trust’s services continues to grow and we have worked hard to generate funds to enable us to support our beneficiaries throughout the year and reach many more families and children in Shropshire.
a. Going concern
The Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the 12 next months and the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
b. Reserves Policy
The trustees agree to hold free reserves in the region of £40,000 - £80,000. This is to ensure that there is sufficient in reserve to support the charitable activities of the organisation for 3-6 months, at the current level. The Trustees agree to continuously monitor this as the charity grows and develops to ensure the amount held in reserves mirrors the level of activity.
The free reserves of the charity for the financial year ended 31st December 2024 were £76,098 (2023: £64,768).
c. Risks and uncertainties
The trustees have a proactive approach to risk management. A live risk register is kept, which is regularly updated and reviewed at the quarterly Trustees’ meetings.
TRUSTEES' RESPONSIBILITY STATEMENT
The trustees (who are also the directors of The Sea Change Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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THE SEA CHANGE TRUST
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FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
27/10/2025 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
………… ……………………………………………………..
Paul Dyson (Chair) Date: 27/10/2025
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THE SEA CHANGE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 70,285 Charitable activities General 9,975 Total 80,260 EXPENDITURE ON Charitable activities General 68,611 NET INCOME 11,649 Transfers between funds 10 36,695 Net movement in funds 48,344 RECONCILIATION OF FUNDS Total funds brought forward 65,526 TOTAL FUNDS CARRIED FORWARD 113,870 |
Restricted funds £ 332,579 - 332,579 294,425 38,154 (36,695) 1,459 101,382 102,841 |
2024 Total funds £ 402,864 9,975 412,839 363,036 49,803 - 49,803 166,908 216,711 |
2023 Total funds £ 276,681 9,475 286,156 142,106 144,050 - 144,050 22,858 166,908 |
|---|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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THE SEA CHANGE TRUST
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024
| FIXED ASSETS Notes Unrestricted funds £ Tangible assets 7 37,772 CURRENT ASSETS Debtors 8 101,810 Cash at bank and in hand 22,322 124,132 CREDITORS Amounts falling due within one year 9 (48,034) NET CURRENT ASSETS 76,098 TOTAL ASSETS LESS CURRENT LIABILITIES 113,870 NET ASSETS 113,870 FUNDS Unrestricted funds 10 Restricted funds TOTAL FUNDS |
Restricted funds £ - - 102,841 102,841 - 102,841 102,841 102,841 |
2024 Total funds £ 37,772 101,810 125,163 226,973 (48,034) 178,939 216,711 216,711 113,870 102,841 216,711 |
2023 Total funds £ 43,929 58,130 68,042 126,172 (3,193) 122,979 166,908 166,908 65,526 101,382 166,908 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.
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The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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THE SEA CHANGE TRUST
STATEMENT OF FINANCIAL POSITION - continued 31 DECEMBER 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on . ...........................................and were signed on its behalf by:27/10/2025
............................................. Paul Dyson - Trustee
The notes form part of these financial statements
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THE SEA CHANGE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
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the requirements of Section 7 Statement of Cash Flows;
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the requirement of paragraph 3.17(d);
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the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
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the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
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the requirement of paragraph 33.7.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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Motor Vehicles - 15% reducing balance
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Equipment - 33% straight line
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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THE SEA CHANGE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES - continued
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| Donations Gift aid Grants NHS Salary Contribution Grants received, included in the above, are as follows: Other Grant Income Local authority Grants |
2024 £ 7,831 568 332,459 62,006 402,864 2024 £ 188,709 143,750 332,459 |
2023 £ 5,569 437 270,675 - |
| 276,681 | ||
| 2023 £ 101,014 169,661 |
||
| 270,675 |
Included within grant income is £143,750 (2023: £169,661) received from Telford & Wrekin Council; funding received from the Government and Local Authorities during the year. Apart from the employment allowance credit against Employers National Insurance, the charity has received no other financial assistance from the government.
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THE SEA CHANGE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 7,190 | 7,992 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
5. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Wages and salaries Social security costs Other pension costs |
2024 £ 87,958 139 10,890 98,987 |
2023 £ 6,760 - - |
| 6,760 |
The Key management personnel of the charity to whom the Trustees delegate the day-to-day running of the organisation is the CEO. The total employee benefit of the key management personnel of the charity for the year ended 31 December 2024 were £38,342 (2023: £1,525).
The average monthly number of employees during the year was as follows:
| The Sea Change Trust - Staff No employees received emoluments in excess of £60,000. |
2024 4 |
2023 2 |
|---|---|---|
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THE SEA CHANGE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Unrestricted funds £ Restricted funds £ Donations and legacies 63,606 213,075 Charitable activities General 9,475 - Total 73,081 213,075 EXPENDITURE ON Charitable activities General 12,024 130,082 NET INCOME 61,057 82,993 Transfers between funds (5,923) 5,923 Net movement in funds 55,134 88,916 RECONCILIATION OF FUNDS Total funds brought forward 10,392 12,466 TOTAL FUNDS CARRIED FORWARD 65,526 101,382 7. TANGIBLE FIXED ASSETS Motor Computer COST vehicles £ equipment £ At 1 January 2024 50,790 1,131 Additions - 1,033 At 31 December 2024 50,790 2,164 DEPRECIATION At 1 January 2024 7,619 373 Charge for year 6,476 714 At 31 December 2024 14,095 1,087 NET BOOK VALUE At 31 December 2024 36,695 1,077 At 31 December 2023 43,171 758 |
Total funds £ 276,681 9,475 286,156 142,106 144,050 - 144,050 22,858 166,908 Totals £ 51,921 1,033 52,954 7,992 7,190 15,182 37,772 43,929 |
|---|---|
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THE SEA CHANGE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors Prepayments and accrued income CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Accruals and deferred income MOVEMENT IN FUNDS At 1.1.24 £ Unrestricted funds General fund 65,526 Restricted funds Early Years' Service 84 Reaching Vulnerable Children 55,472 Early Years' Service - Telford and Wrekin 45,826 Young Adults Project - 101,382 TOTAL FUNDS 166,908 |
Net movement in funds £ 11,649 - (13,267) 15,823 35,598 38,154 49,803 |
2024 £ 87,560 8,370 5,880 101,810 2024 £ 1,684 44,466 1,884 48,034 Transfers between funds £ 36,695 - - (36,695) - (36,695) - |
2023 £ 58,130 - - |
|
|---|---|---|---|---|
| 58,130 | ||||
| 2023 £ 1,807 - 1,386 3,193 At 31.12.24 £ 113,870 84 42,205 24,954 35,598 |
2023 £ 1,807 - 1,386 |
|||
| 3,193 | ||||
| 102,841 | ||||
| 216,711 |
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
10. MOVEMENT IN FUNDS
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THE SEA CHANGE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Reaching Vulnerable Children Early Years' Service - Telford and Wrekin Young Adults Project TOTAL FUNDS |
Incoming resources £ 80,260 98,819 143,750 90,010 332,579 412,839 |
Resources expended £ Movement in funds £ (68,611) 11,649 (112,086 ) (13,267) (127,927 ) 15,823 (54,412) 35,598 (294,425 ) 38,154 (363,036 ) 49,803 |
|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Restricted funds Early Years' Service Subsidised Psychotherapy Refugee Service Reaching Vulnerable Children Early Years' Service - Telford and Wrekin TOTAL FUNDS |
At 1.1.23 £ 10,392 12,466 - - - - 12,466 22,858 |
Net movement in funds £ 61,057 (12,382) (5,483) (440) 55,472 45,826 82,993 144,050 |
Transfers between funds £ (5,923) - 5,483 440 - - 5,923 - |
At 31.12.23 £ 65,526 84 - - 55,472 45,826 |
|---|---|---|---|---|
| 101,382 | ||||
| 166,908 |
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THE SEA CHANGE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Early Years' Service Subsidised Psychotherapy Refugee Service Reaching Vulnerable Children Early Years' Service - Telford and Wrekin TOTAL FUNDS |
Incoming resources £ 73,081 1,020 - - 99,994 112,061 213,075 286,156 |
Resources expended £ Movement in funds £ (12,024) 61,057 (13,402) (12,382) (5,483) (5,483) (440) (440) (44,522) 55,472 (66,235) 45,826 (130,082 ) 82,993 (142,106 ) 144,050 |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Early Years' Service Subsidised Psychotherapy Refugee Service Reaching Vulnerable Children Early Years' Service - Telford and Wrekin Young Adults Project TOTAL FUNDS |
At 1.1.23 £ 10,392 12,466 - - - - - 12,466 22,858 |
Net movement in funds £ 72,706 (12,382) (5,483) (440) 42,205 61,649 35,598 121,147 193,853 |
Transfers between funds £ 30,772 - 5,483 440 - (36,695) - (30,772) - |
At 31.12.24 £ 113,870 84 - - 42,205 24,954 35,598 |
|---|---|---|---|---|
| 102,841 | ||||
| 216,711 |
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continued...
THE SEA CHANGE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Early Years' Service Subsidised Psychotherapy Refugee Service Reaching Vulnerable Children Early Years' Service - Telford and Wrekin Young Adults Project TOTAL FUNDS |
Incoming resources £ 153,341 1,020 - - 198,813 255,811 90,010 545,654 698,995 |
Resources expended £ Movement in funds £ (80,635) 72,706 (13,402) (12,382) (5,483) (5,483) (440) (440) (156,608 ) 42,205 (194,162 ) 61,649 (54,412) 35,598 (424,507 ) 121,147 (505,142 ) 193,853 |
|---|---|---|
Details of the various funds held by the charity are as follows:
Unrestricted Funds
General Fund - Any monies not included in any other fund
Restricted Funds
Early Years Service - Early intervention through specialist outreach projects for babies toddlers and their parents/carers.
Subsidised Psychotherapy - Psychotherapy for those children, young people and parents/carers who aren't able to meet the cost of private support.
Refugee Service - Specialist, trauma-informed therapeutic provision for child refugees and young asylum seekers who need support with their mental and emotional health.
Reaching Vulnerable Children - The delivery of specialist provision through outreach and early intervention.
Telford and Wrekin Early Years - Early intervention through specialist outreach projects for babies, toddlers, and their parents/carers in Telford and Wrekin.
Young Adults Project - The Young Adults Service aims to offer therapeutic support to vulnerable young people between the ages of sixteen and twenty five, using individual psychotherapy and group interventions based at our centre and in the community.
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THE SEA CHANGE TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
11. EMPLOYEE BENEFIT OBLIGATIONS
The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable by the charitable company to the fund and amounted to £10,890 (2023: £2,430). Contributions totalling £15,658 (2023: £3,586) were payable to the fund at the balance sheet date.
12. RELATED PARTY DISCLOSURES
During the year there has been transactions with Sea Change Psychotherapy Limited, who's Director Therese Bailey-Sayer is currently a key management personnel at The Sea Change Trust. In total £73,487 has been paid to Sea Change Psychotherapy Limited during the period. These costs are broken down as sub-contractor costs of £25,260, re-charging of overhead costs which have been calculated based on activity levels of £46,509, and other general expenses of £ 1,718.
During the year £11,095 has been paid to sub-contractor K Turner, who is the spouse of Trustee R Turner, appointed on 26/09/2024.
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