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2024-03-31-accounts

Charity no. 1187394

Report and Unaudited Financial Statements

31 March 2024

Pete's Dragons

Reference and administrative details

For theyear ended 31 March 2024 For theyear ended 31 March 2024
Charity number 1187394
Registered office and 102 Exeter Road
operational address Exmouth
Devon
EX8 1QA
Trustees The trustees who served during the year and up to the date of this report
were as follows:
David Partlow Chair
Abigail Hearn Appointed 21 March 2024
Philip Hill
Kayleigh Hodge
Hymani Martinez Appointed 21 March 2024
Graham Rowland Resigned 21 March 2024
Lesley Rowland Resigned 21 March 2024
Chief executive officer Alison Jordan
Bankers NatWest Bank
59 High Street
Exeter
EX4 3DL
Independent examiners Godfrey Wilson Limited
Chartered accountants and statutory auditors
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

1

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

The Charity

Pete’s Dragons provides support to those people within our communities of Devon and North Somerset who have been impacted by suicide. Our support is guided by the three main aspects of suicide: prevention, postvention and intervention.

Our support is:

The charity operates from four office and therapeutic spaces in Barnstaple, Torquay, Plymouth and its headquarters in Exmouth. Locations which ensure accessibility to all Devon residents.

Pete’s Dragons is part-commissioned to provide its prevention, postvention and intervention activities which ensures the charity operates to the high standards of our statutory partners which increases public confidence in service delivery. However, it is the unwavering and loyal support of our local communities through fundraising and donations which enables the charity to deliver innovative, compassionate, time sensitive and hope-filled support to vulnerable individuals when they need it the most.

Objectives and Activities

The benefits that Pete’s Dragons provides are:

Pete’s Dragons is required to demonstrate how its operations provide a public benefit.

The Trustees have complied with their duty in accordance with the charities act and the Charity Commissions guidance on public benefit. They exercise their powers and duties to consider it in all aspects of the charity’s activities.

2

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Overview of the Financial Year

Pete’s Dragons, along with all charities are operating in challenging economic times. The charity continues to be impacted by recovery and the long-term effects of the covid19 pandemic alongside high inflation and a cost-of-living crisis the effects of which also impact the charity’s stakeholders and beneficiaries. The charity has seen a 38% increase in demand for suicide bereavement support services which has in turn created the need for increased office/therapy space as well as additional suicide bereavement specialists.

This is clearly demonstrative of the increasing need for the services the charity provides. That the people experiencing the devastating impact of suicide have somewhere to turn for instant support can only be viewed as a positive and therefore the financial year has been focused toward ensuring their needs are met.

The Plymouth and Barnstaple offices both moved into larger premises both comprising of an administration space, two one-to-one therapy rooms and a group therapy space. Plans began for the Torquay office to relocate to a larger property which would provide similar amenities.

Suicide bereavement specialist numbers increased from 8 to 11 and their salaries were reviewed and subsequently increased to reflect the important and crucial nature of the work undertaken.

To streamline and add operational efficiencies the charity also began a technology refresh project for both software and hardware. We incorporated additional software which allowed us to monitor and track grant and contract performance and budgets alongside adding an IT helpdesk and a leased line to our HQ building to decrease IT downtime. New networked computers have been installed on every desk facilitating flexible working between offices.

The investment in increased space and technology, though essential to meet increased need, is reflected in the small deficit with which the charity ended the financial year.

Despite the deficit the charity remains in a strong financial position for the coming year with adequate reserves and six ongoing contracts.

Fundraising

The financial year saw a 48% increase in community fundraising and donations. As the need for the charity’s services grows, so does community awareness and this is reflected in the generosity of members of the public who undertake challenges and raise money in all manner of wonderfully unique ways. The charity remains humbled and grateful for the efforts and funds raised throughout the year.

3

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

The Charity monitors fundraising activities on an ad-hoc basis, did not identify any failures to comply with the voluntary standards or legal requirements and did not receive any complaints regarding its fundraising activities during the year.

Grant Funding

The charity was supported to provide its vita services by the following grant making trusts and foundations.

4

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Grants which contributed towards the provision of increased/warm space, children’s activity days, winter warm packs, Christmas first-aid well-being kits, peer support and much more. Grants and trusts are what makes the difference between adequate service provision and excellent service provision. With the support of the above organisation’s beneficiaries of Pete’s Dragons can be assured of excellence in everything we do.

The Charity is not a grant making Charity and does not invite grant applications.

Contracts

The charity held six contracts in this reporting period. All contracts have been managed and performed to a high standard with quarterly reporting against agreed key performance indicators demonstrating without exception that the charity met or exceeded expectations.

Contract Awarding Body Purpose
Devon Postvention Service Devon ICB Suicide Bereavement Support
Devon RTSSS Devon Public Health Operation
of
Real
Time
Surveillance System
NS PSG North Somerset Council Peer Support Groups
4Mental Health Training Plymouth City Council Delivery and Administration of
Training
Connect 5 Training Devon Public health Delivery and Administration of
Training
ASIST & MHFA Training West Devon LCP Delivery of Training

5

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Achievements and performance - Spotlighting a Contract

The real time surveillance system is operated across the Devon Integrated Care System. It collects timely data about all ‘sudden, self-inflicted deaths’, primarily from Devon and Cornwall Police, British Transport Police and Highways England. Further information relating to the death is then gathered from a range of agencies including Mental Health Services, Substance Misuse Services and Educational Settings. A multi-agency group meets once a month where the previous months data is presented.

The purpose of real time surveillance is primarily to ensure that there is a timely offer of bereavement support to anyone who may have been affected by the death. This is because being bereaved by suicide increases the risk of suicide (Pitman A et al 2016. BMJ 26:6:1).

Other functions of a real time surveillance system are:

As part of the management of the real time surveillance system, Pete’s Dragons is also responsible for arranging partnership meetings, sending out invitations to the relevant agencies, setting the agenda, chairing, taking and circulating minutes, and preparing regular reports. The meetings include (but not exclusively):

Operating the RTSS system is an integral part of Pete’s Dragons operations, it means the charity is well networked within all agencies working to prevent suicides within Devon and places us front and center in having the requisite information required to target geographical areas and communities with our training and postvention support offers where and when they are needed the most.

6

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Operating the RTSS led to the charity to discovering that there was a real need for the provision of postvention support in educational establishments, statutory and corporate organisations when in the wake of a suicide that had impacted their work/school community. This led to the development of an Immediate Response service where the charity sends teams of suicide bereavement specialists to assist with the practical and emotional response. As a result of this and working in conjunction with Public Health Devon a comprehensive resource for Devons Schools and Colleges was created and published during this reporting period.

The real-time data set captures all “sudden self-inflicted deaths” (SSIDs) in the Devon ICS region including overdose data and suspected suicides. The dataset does not reflect official suicide numbers for the region; a suicide is not confirmed until the coroner has made their conclusion. It is likely that some of the deaths captured in the dataset will be concluded as an accidental or drugrelated death.

Retail

The charity’s retail outlet enjoys a prominent town center location in Exmouth. A mix of traditional donated goods is combined with brand new products associated with mental wellbeing thus explaining its name “Retail Therapy”. The shop provides many benefits to the charity, its beneficiaries and the local community by facilitating a reduction in the charity’s carbon footprint, employment of local residents, encouragement of sustainable shopping, raising awareness of suicide prevention and mental wellbeing and for beneficiaries it is a trusted place to donate their deceased loved one’s belongings knowing they will be treated with love, care and respect.

7

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Training

Training continues to provide a healthy revenue for the charity both in terms of contracts held and general sales. Training assists the charity in meeting its charitable objectives by providing education around suicide intervention, postvention and prevention across Devon and beyond.

The courses offered by the charity during this reporting period are as follows:

Operational Stats

8

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Service Provision

To both meet our charitable objectives and public benefit we work towards delivering key objectives in the three following areas:

Postvention

Prevention

Intervention

Beneficiary Story

When you look up the word sanctuary, the dictionary tells us it means a place of refuge or protection. When I think of the word sanctuary I get the image of two yellow chairs, a warm drink and a person who makes me feel totally safe. Pete’s Dragons is a sanctuary providing me refuge from stigma, silence and society’s expectations and offers me protection from my own self-deprecating thoughts following my husband’s suicide.

Three years ago, I was blissfully unaware of Pete’s Dragons existence. I say blissfully because I was fortunate enough to have not known anyone personally who had lost someone to suicide nor experienced it myself and so they had never come up in conversation. Then one day the devastation happened. My life turned upside down like I didn’t know was possible. My husband, Mike, died to suicide. I thought that nobody would be able to understand how I felt. I thought nobody would ever get it. I thought that the pain I was feeling and the hurt deep within would never be understood by anybody, except for me. I felt alone. I felt isolated. If I’m truthful, in those first few weeks, I planned my own suicide.

Then I was introduced to Pete’s Dragons.

It’s not until I reflect on the support that Pete’s Dragons has given me throughout the years following my husband’s death, that I can truly see the impact both the one-to-one support, and the organisation as a whole has had. I can’t really recall those early sessions in detail. My mind and body numb to grief. What I do remember is walking into the room and sitting in a yellow chair opposite a woman whose eyes told me “You’re safe now”. I remember feeling so totally comfortable in her presence that I poured my heart out. This stranger, on that first session, made me feel understood, heard and with her saying very little, her eyes encouraged me to say more.

9

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

This person who I hadn’t known existed only weeks before, just by opening her body language and asking the right questions allowed me to speak so freely, and without feeling any of the judgements I was feeling from the rest of society. Over the following weeks tools arrived by post to help me cling on, to enable me to exist in a world where my husband wasn’t. Information packs, calming putty, tools to help me support my daughter. Drip fed to not overwhelm but enough to enable me to survive.

Unlike other bereavements, there is a social stigma associated with suicide. It’s taboo. When I am asked ‘how did he die?’, which is such a frequent question to a widow, and my reply is suicide, the asker is never really sure how to follow up, as the horror of the situation fills their eyes. Consequently, it made me not want to discuss Mike or his death. It made me feel shame and it made me want to hide from society. So that weekly visit to Pete’s Dragons became my sanctuary and safe space. Somewhere I could open up and tells Mike’s story as well as my own story without feeling shame or feeling judged or feeling alone. Rooms filled with brightness and colour, with the darkness of grief and death put to one side, even if only a temporary respite, allowing me to recharge my resilience levels.

Even now, almost 3 years on, especially as I approach Mikes inquest, Pete’s Dragons still feels like a sanctuary to me. A safe haven, whether that be at the end of the telephone, email or in person, to just allow me to breathe or regain some control. Quite honestly, I’m not sure how I would have survived the last few years without the support Pete’s Dragons has provided me. From a jigsaw to fill my time during long dark winter evenings, to books around grief educating me to normalise my feelings, to bath bubbles encouraging self-care to coffee sessions with peers who are also experiencing life after suicide loss, this charity provides not just a service to a community, but also an education to whomever is open to it.

Pete’s Dragons support has given me so much, and as a beneficiary I feel privileged and blessed to have them in my life. To say that they have had an impact on my life would be an understatement… Pete’s Dragons saved my life.

10

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Staff and Volunteers

Pete’s Dragons is powered by a dynamic staff and voluntary team. This team is recruited from across the whole of Devon ensuring that all local communities are catered for and that we are utilizing local skills and knowledge.

Staff wellbeing remained a high priority for the charity this reporting period with all staff receiving training in mental wellbeing and resilience, and suicide prevention. Where appropriate staff have access to one-to-one clinical supervision, all staff receive regular management supervision and regular tea meetings as well as access to management support as and when required.

11

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Staff took part in a psychological safety survey and answered (examples below) questions on a sliding scale between strongly agree and strongly disagree:

  1. On this team, I understand what is expected of me;

  2. If I make a mistake on this team, it is never held against me;

  3. When something goes wrong, we work as a team to find a systemic cause;

  4. All members of this team are able to bring up tough problems and issues; and

  5. Members of this team never reject anyone for being different and no one is left out.

The results of the survey were extremely encouraging with 97% response rate to agree or strongly agree. We will work hard and make it our focus to maintain those results and look after our staff psychologically.

Volunteers remain a crucial aspect of the charity’s operations and governance. We are grateful to our counselling, fundraising, retail, and trustee volunteers for all of their hard work and dedication. Without volunteers we would be severely limited in our capacity, and this would directly impact on the level of service that beneficiaries receive.

Looking Forwards

The Charity has been commissioned to continue providing postvention support throughout Devon to April 2025 as well as a continuation of the provision of real time surveillance and training contracts for a minimum of another year.

12

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

The charity intends to further expand by moving to larger premises in the Torbay area and is in talks to extend bereavement services to those whose loved ones have died from drink or drugs where the intention is unknown.

The Charity’s aims for the forthcoming year are to strengthen and extend our core services within what are difficult times, keeping people safe, reducing isolation, and continuing to provide training and education in all aspects within which the Charity specialises.

The trustees present their report with the financial statements of the Charity for the year ended 31[st] March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “ Accounting and Reporting by Charities ” (FRS102) effective January 2019.

Financial Summary

Income for the year ended 31 March 2024 was £704,993 (2023: £565,867) and resources expended were £715,014 (2023: £541,937), resulting in a deficit of £10,021 (2023: Surplus of £23,930). Total funds at 31 March 2024 were £451,567 (2023: £461,588), consisting of £9,000 restricted funds (2023: £3,500) and £442,567 unrestricted funds (2023: £458,088).

Principal funding sources

Reserves policy

Restricted funds have been shown in the statement of assets. Income is spent on the charitable activities in accordance with the Charity’s objectives.

The policy of the trustees is to ensure that all expenses are fully-funded and reserves are sufficient to cover expenditure commitments for a six-month period, equating to £357,507. Current free reserves, defined as unrestricted net current assets are £435,718.

Trustees are currently in discussions about how best to utilise free reserves including the purchase of an investment property and/or a charity investment fund.

Key Management Remuneration

Key management remuneration is reviewed annually and normally increased with average earnings. The Trustees benchmark is the midpoint range paid for comparable roles in charities of a similar size.

13

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Structure Governance and Management

The Charity is constituted as a Charitable Incorporated Organisation (CIO) and is governed by a constitution. Pete’s Dragons was originally registered as a charitable trust (1160644) in February 2015, the assets of which were transferred to the CIO 1187394 upon its registration on 15 January 2020.

Recruitment and Appointment of New Trustees

New trustees are invited by the existing trustees having due regard to the skills, knowledge and experience required for the effective administration of the Charity. Trustees are responsible for the strategic governance of the Charity. They do not receive any remuneration and offer their services voluntarily. Each Trustee brings his/her own specific skills and experience for the benefit of the Charity. An induction process is in place for advising new Trustees about their expected role and responsibilities, including reference to the Charity Commission's "The Essential Trustee" in addition to meeting with the Chief Executive and the senior leadership team to equip them with a comprehensive understanding of the Charity's objectives and business processes.

Day-to-Day Management and Decision Making

The Chief Executive Officer and senior leadership team are responsible for the day- to-day management.

Decision making in respect of material expenditure, remuneration and the Charities overall structure and strategy are reserved to the Trustees.

Related Parties

The Charity does not have any subsidiaries and there are no entities that are related parties. One employee of the Charity is connected to a Trustee and two Trustees and connected the Trustees manage any issues that may arise in accordance with the guidance provided by the Charity Commission.

Risk Management

The Trustees have a duty to identify and review the risks to which the Charity is exposed, to safeguard the assets of the Charity and to ensure appropriate controls are in place for taking steps to provide reasonable assurance against fraud and error.

14

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Significant Events

There were no significant financial events during the year but the Trustees are mindful of the long terms effects of the COVID-19 pandemic and the cost of living crisis on the environment within which the Charity operates and have taken action throughout the year in the form of changes to the Charity's operational processes in order to mitigate that effect.

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

15

Pete’s Dragons

Report of the trustees

For the year ended 31 March 2024

Members of the charity guarantee to contribute an amount not exceeding £Nil to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Godfrey Wilson Limited were re-appointed as independent examiners to the charity during the year and have expressed their willingness to continue in that capacity.

This report has been prepared and approved by order of the board of Trustees and signed on its behalf by:

David Partlow – Chair of trustees

Date: 24 January 2025

16

Independent examiner's report

To the trustees of

Pete's Dragons

I report to the trustees on my examination of the accounts of Pete's Dragons (the CIO) for the year ended 31 March 2024, which are set out on pages 18 to 32.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since the CIO’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

Godfrey Wilson Limited also provided bookkeeping services to the CIO during the year. I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

William Guy Blake

Date: 24 January 2025 William Guy Blake ACA Member of the ICAEW For and on behalf of: Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

17

Pete's Dragons

Statement of financial activities

For the year ended 31 March 2024

Restricted Unrestricted
Note
£
£
Income from:
Donations and legacies
3
-
163,925
Charitable activities
4
97,122
383,996
Other trading income
5
-
59,831
Investments
-
119
Total income
97,122
607,871
Expenditure on:
Raising funds
-
88,417
Charitable activities
91,622
534,975
Total expenditure
7
91,622
623,392
8
5,500
(15,521)
Reconciliation of funds:
Total funds brought forward
3,500
458,088
Total funds carried forward
9,000
442,567
Net income / (expenditure) and net
movement in funds		 2024
Total
£
163,925
481,118
59,831
119
704,993
88,417
626,597
715,014
(10,021)
461,588
451,567		 2023
Total
£
112,243
388,007
65,617
-
565,867
133,600
408,337
541,937
23,930
437,658
461,588

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 15 to the accounts.

18

Pete's Dragons

Balance sheet

As at 31 March 2024

----- Start of picture text -----
2024 2023
Note £ £ £
Fixed assets
Tangible assets 11 6,849 885
6,849 885
Current assets
Debtors 12 62,189 20,955
Cash at bank and in hand 405,840 459,782
468,029 480,737
Liabilities
Creditors: amounts falling due within 1 year 13 23,311 20,034
Net current assets 444,718 460,703
Net assets 14 451,567 461,588
Funds 15
Restricted funds 9,000 3,500
Unrestricted funds
General funds 442,567 458,088
Total charity funds 451,567 461,588
----- End of picture text -----

Approved by the trustees on 24 January 2025 and signed on their behalf by

David Partlow - Chair of trustees

19

Pete's Dragons

Statement of cash flows

For the year ended 31 March 2024

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation
Increase in debtors
Increase in creditors
Interest earned
Net cash provided by operating activities
Cash flows from investing activities:
Interest earned
Purchase of tangible fixed assets
Net cash used in investing activities
Increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2024
£
(10,021)
4,070
(41,234)
3,277
(119)
(44,027)
119
(10,034)
(9,915)
(53,942)
459,782
405,840		 2023
£
23,930
483
(16,905)
9,253
-
16,761
-
-
-
16,761
443,021
459,782

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

20

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

1. Accounting policies

a) Basis of preparation

Pete's Dragons is a charitable incorporated organisation registered in England and Wales. The registered office address is 102 Exeter Road, Exmouth, Devon EX8 1QA.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Pete's Dragons meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

21

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

1. Accounting policies (continued)

e) Funds accounting

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

g) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of staff time occupied by each activity as follows:

2024 2023
Raising funds 9% 21%
Charitable activities 91% 79%

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Computer equipment 3 years

Items of equipment are capitalised where the purchase price exceeds £1,000.

i) Stock

The charity holds donated stock in its charity shop retail outlet. This stock is comprised mainly of donated goods and has not been valued in the accounts on the basis that it would be impracticable to do so.

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash 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.

22

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

1. Accounting policies (continued)

l) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

m) Financial instruments

The trust 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 with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

n) Pension costs

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

o) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

23

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

2. Prior period comparatives: statement of financial activities

Restricted
£
£
Income from:
Donations and legacies
-
112,243
Charitable activities
8,000
380,007
Other trading income
-
65,617
Total income
8,000
557,867
Expenditure on:
Raising funds
-
133,600
Charitable activities
8,103
400,234
Total expenditure
8,103
533,834
(103)
24,033
3.
Income from donations and legacies
2024
Total
£
Donations
25,822
Fundraising
138,103
Total income from donations and legacies
163,925
Income from donations was wholly unrestricted in the current and prior periods.
4.
Income from charitable activities
Restricted
£
£
Contracts
-
275,268
Grants
97,122
-
Training sessions
-
108,728
Total income from charitable activities
97,122
383,996
Unrestricted
Unrestricted
Net (expenditure) / income and net movement
in funds		 2023
Total
£
112,243
388,007
65,617
565,867
133,600
408,337
541,937
23,930
2023
Total
£
42,734
69,509
112,243
2024
Total
£
275,268
97,122
108,728
481,118

24

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

4. Income from charitable activities (continued) Prior period comparative

Contracts
Grants
Training sessions
Total income from charitable activities
Income from other trading activities
Shop sales		 Restricted
£
-
8,000
-
8,000		 £
263,785
-
116,222
380,007
2024
Total
£
59,831
Unrestricted		 2023
Total
£
263,785
8,000
116,222
388,007
2023
Total
£
65,617

5. Income from other trading activities

Income from other trading activities was wholly unrestricted in the current and prior periods.

6. Government grants

The charity receives government grants, defined as funding from National Lottery (2023: NHS South West) to fund charitable activities. The total value of such grants in the period ending 31 March 2024 was £70,802 (2023: £3,500). There are no unfulfilled conditions or contingencies attaching to these grants in either year.

25

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

7. Total expenditure

Staff costs (note 9)
Staff training
Project fees
Gifts, postage and packaging
Marketing
Materials
Travel and accommodation
Beneficiary events
Cost of goods sold
Bank fees
Subscriptions and licences
Supervision and wellbeing
Insurance
Legal and professional fees
Rent
Repairs and maintenance
Telephone and internet
Other office costs
Depreciation
Sub-total
Total expenditure
Allocation of support and governance
costs		 Raising
funds
£
30,521
741
562
2,305
163
77
245
3,012
8,974
3,630
364
-
67
-
15,346
1,836
1,047
7,212
286
76,388
12,029
88,417
 Charitable
activities
£
305,887
66,101
-
17,231
-
176
2,530
6,904
-
-
842
7,000
-
2,754
57,495
17,764
8,372
10,117
2,868
506,041
120,556
626,597		 £
97,667
7,760
-
1,540
4,360
539
626
356
163
686
1,973
93
3,151
8,218
839
400
529
2,769
916
132,585
(132,585)
-
Support and
governance
costs		 2024 Total
£
434,075
74,602
562
21,076
4,523
792
3,401
10,272
9,137
4,316
3,179
7,093
3,218
10,972
73,680
20,000
9,948
20,098
4,070
715,014
-
715,014

Total governance costs were £3,942 (2023: £4,800).

26

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

7.
Total expenditure (continued)
Prior period comparative
Staff costs (note 9)
Staff training
Project fees
Gifts, postage and packaging
Marketing
Materials
Travel and accommodation
Beneficiary events
Cost of goods sold
Bank fees
Subscriptions and licences
Supervision and wellbeing
Insurance
Legal and professional fees
Rent
Repairs and maintenance
Telephone and internet
Other office costs
Depreciation
Sub-total
Total expenditure
Allocation of support and governance
costs		 Raising
funds
£
68,171
2,764
1,617
6,083
669
159
90
-
5,322
-
-
-
-
-
22,582
7,033
2,552
5,092
90
122,224
11,376
133,600
 Charitable
activities
£
258,592
39,907
-
3,610
4,002
5,666
1,926
7,549
-
-
2,824
6,749
-
-
17,614
6,299
5,018
5,080
344
365,180
43,157
408,337		 £
37,274
1,406
-
-
-
13
-
-
-
1,009
-
-
2,707
6,823
2,539
908
723
1,082
49
54,533
(54,533)
-
Support and
governance
costs		 2023 Total
£
364,037
44,077
1,617
9,693
4,671
5,838
2,016
7,549
5,322
1,009
2,824
6,749
2,707
6,823
42,735
14,240
8,293
11,254
483
541,937
-
541,937

27

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

8. Net movement in funds

This is stated after charging:

Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Depreciation
Independent examiner's remuneration (excluding VAT):
Independent examination
Other services		 2024
£
73,680
Nil
Nil
4,070
3,285
1,080		 2023
£
42,735
Nil
Nil
483
4,000
588

In common with other charities of our size and nature we use our independent examiners to assist with the preparation of the financial statements and to prepare and submit returns to the tax authorities.

9. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 2024
£
399,851
27,813
6,411
434,075		 2023
£
332,873
24,458
6,706
364,037

No employee earned more than £60,000 during the current or prior period.

The key management personnel of the charity comprise the Trustees and the Chief Executive Officer. The total employee benefits of the key management personnel were £80,258 (2023: £62,342).

Average head count 2024
No.
19		 2023
No.
15

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

28

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

11. Tangible fixed assets

£
Cost
At 1 April 2023
-
Additions
2,665
At 31 March 2024
2,665
Depreciation
At 1 April 2023
Charge for the year
874
At 31 March 2024
874
Net book value
At 31 March 2024
1,791
At 31 March 2023
-
12. Debtors
Trade debtors
Prepayments
Other debtors
13. Creditors : amounts due within 1 year
Trade creditors
Accruals
Other taxation and social security
Fixtures and
fittings		 £
1,449
7,369
8,818
564
3,196
3,760
5,058
885
2024
£
33,240
15,454
13,495
62,189
2024
£
2,003
12,943
8,365
23,311
Computer
equipment		 Total
£
1,449
10,034
11,483
564
4,070
4,634
6,849
885
2023
£
15,050
2,260
3,645
20,955
2023
£
371
12,482
7,181
20,034

29

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

14. Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 March 2024
Prior year comparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 March 2023		 £
-
9,000
-
9,000
£
-
3,500
-
3,500
Restricted
funds
Restricted
funds		 £
6,849
459,029
(23,311)
442,567
£
885
477,237
(20,034)
458,088
General
funds
General
funds		 Total
funds
£
6,849
468,029
(23,311)
451,567
Total
funds
£
885
480,737
(20,034)
461,588

30

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds

Restricted funds
National Lottery
National Grid
Virgin Money
Gibbons
Jamieson Bystock
Total restricted funds
General funds
Total unrestricted funds
Total funds
Devon Community Foundation -
Support the supporter
Devon Community Foundation -
Chief constable
Unrestricted funds
Devon Community Foundation -
Caring		 At 1 April
2023
£
-
3,500
-
-
-
-
-
-
3,500
458,088
458,088
461,588


 Income
£
70,802
-
7,000
6,000
5,320
5,000
1,000
2,000
97,122
607,871
607,871
704,993		 £
(70,802)
(3,500)
(7,000)
-
(5,320)
(5,000)
-
-
(91,622)
(623,392)
(623,392)
(715,014)
Expenditure		 £
-
-
-
-
-
-
-
-
-
-
-
-
Transfers
between
funds		 £
-
-
-
6,000
-
-
1,000
2,000
9,000
442,567
442,567
451,567
At 31
March
2024

Purposes of restricted funds

National Lottery

Funding to provide warm spaces for consultations with beneficiaries.

Devon Community Foundation - Designing a new course for people in a caring profession. Caring

Devon Community Foundation - Funding to support the creation and delivery of training for Support the supporter carers.

Devon Community Foundation - Funding to provide Christmas hampers for beneficiaries in Chief constable 2024/25.

National Grid

Funding for Winter Warm packs for beneficiaries.

Virgin Money

Funding to provide Christmas hampers for beneficiaries.

Gibbons

Funding to support family and children activity days in 2024/25.

Jamieson Bystock

Funding for peer support and theerapeutic interventions for adults.

31

Pete's Dragons

Notes to the financial statements

For the year ended 31 March 2024

15. Movements in funds (continued) Prior period comparative

Restricted funds
National Lottery
Devon Community Foundation
DYS Space (YP Activities)
Total restricted funds
General funds
Total unrestricted funds
Total funds
Prior period comparative
Unrestricted funds		 At 1 April
2022
£
3,603
-
-
3,603
434,055
434,055
437,658		 Income
£
-
3,500
4,500
8,000
557,867
557,867
565,867		 £
(3,603)
-
(4,500)
(8,103)
(533,834)
(533,834)
(541,937)
Expenditure		 £
£
-
-
-
3,500
-
-
-
3,500
-
458,088
-
458,088
-
461,588
Transfers
between
funds
At 31
March 2023

16. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years
More than 5 years		 2024
£
61,800
206,350
46,500
314,650		 2023
£
3,561
-
-
3,561

17. Related party transactions

A Jordan, CEO, and P Hill, a trustee, own the property at 102 Exeter Road, Exmouth, Devon, EX8 1QA which is rented as an office space to Pete's Dragons. During the year the charity paid £20,800 (2023: £14,817) for rental of the office space. No amounts were outstanding at the year end (2023: £nil). All transactions were carried out at arms length.

P Hill is also a director of G4S Ordinance Management Limited. During the prior year the charity received donations of £250 (2024: £nil) from G4S Ordinance Management Limited. No amounts were outstanding at year end.

During the prior year trustees and key management personnel donated £4,230 to Pete's Dragons (2024: £nil).

32