I'RED SKY FOUNDATION MELPING LITTLE HEART8 & THEIR FAMILIES Report ol the Trusteei for the Year Ended 31 March 2024 The trustees who are also directors of Ihe charity for the purposes of Ihe Componies Act 2C06, present their reporl wilh the financial slalements of the charity lor the year ended 31 Morch 2024. The Iruslees hove adopted Ihe provisions of Accounling and Reporting by Charities: Statement of Recommended Praclice appkable to charilies preparing their occounls in accordance with the Financlal Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102) (effective l Januay 20191. OBJECTIVES AND ACTIVITIES Our vision and objectives ore lo relieve sickness and preserve the heamh of individuals across the North East and wider areas of Ihe UK by assisling in the provision of grants. equipment and roising awareness in particular but not rimited to the provision of grants to individuals, local community groups. local health services and other charitable organisations. Red Sky Foundation supports babies. children and adults living with complex heart conditions and this support is extended to funding specialist machinery and equipment, education progrommes focvsed on healthy hearts and lifestyles while providing a funded counseifing service. Our objective of preserving life by providing serviced defibrillators for local Schools. grassroots sports teams and public places is enhanced by provKling training and education to the general public on the use of defibrillators ond CPR to advanced support for babies. children and adults with heart problems and ther families. PUBLIC BENEFIT The trustees hove referred to the guidance conloined in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and for fvlure planning to deliver on the charity's goals and objectives. The charitable objectives are also set out in order lo provide a clear and demonstrabte pubk benefit. All of our charitable activilies focus on saving the lives of people of al ages who are born with or those who develop complex heart conditions and supporting their families when and where required. Red Sky Foundotion also airns to reduce the number of deaths from sudden cardlac aThest and a rna￿r focus on medical treatmenl and the preservation of life wllh the provlsion ot machlnery. equipment and medicol care to Ir6at people wlth heart condltlons or Ilkne￿ which can lead to cardiac complicalions. By provldlng th&se acllvllles they further enhance our provision and charitable purpose tor overall publlc benellt. Red Sky Foundation reviews Its alms, oblect5ves and acllvltles each year and updates both the strategic development and op6ratlonal deuvery plans to refiecl the decisions laken. The review considers Ihe achlevemenls and oulcomes of the work over the previous 12 months.11 evaluates Ihe success of each key activily and Ihe benefits brought lo Ihe communities we serve. 11 olso considers borriers, chollenges ond failures experienced lo ensure our services are effeclive and fil for purpose. In addilion. il helps us ensure our aims. objectives and aclivilies remoin focussed on our purpose. Red Sky Foundation has referred to Ihe Charity Commission's guidance on Public Benefil when reviewing our aims and objeclives, and in planning our future activities. In porticulaT. the Trustees consider how planned activities V￿11 contribute to the Charily's aims and objeclives. ACHIEVEMENT AND PERFORMANCE The objectives of the charity do not reslricl the delivery of activities to o specific geogrophicol area. however much of the funding we currently roise are for services we Provide for people living in and around the North East. Slalistics from Ihe NHS illuslrate the North Easl still has some of Ihe worst coses of cardiac reloted illness and death rates in the UK. The cost of living crisis is having an impact across the region with large areas of deprivation and poor heolth which can conlribute to cardiovascular conditions, congenital heart di5eose. heart ottacks and sudden cardiac orresl. Mvch of the UK has experienced an impact on heort health. Many people waiting for consullations or firsl-lime appointments for diagnosis of heart condilion5 were unfortunately made to wail longer than normal and death rates due lo cardiac illne55 are increasing. We work with community groups. schools. workplaces families and individuals from every socioeconomic backgrovnd and see high levels of interest in our services from areas wth high levels of social deprivation. Our work is championed by local authorities ond health organisations and there has been notable recognition in the mony oreos of the national health service. We continue lo deliver programmes thol keep our beneficiaries including fomilies and individuals in need of coronary core fully supported to the best of our ability. We have introduced a family hordship fund which provided financial support to olleviale Ihe notable cost of living crisis for porenls wilh sick children affected by heort disease. In addition. we hove conlinued to progress and develop our defibrillator projecls ond while enhancing our educalion progromme designed lo educate. inspire and help the public vndersland the benefits of early CPR, the use of a defibrillator ond whol actions to take in the event of a medicol emergency. Red Sky Foundation hos increa58d the number of sessions made available to members of Ihe public. Wilh the introduction of learning obout healthy lifeslyles ond small improvements to diel and exercise. leorning about different food lypes and Ihe impact food can hove on heart health, Red Sky Foundation offers an encompassing approach to helping lo chonge the way children ond adults look after their bodies. Regular feedbock from participanls with regulor reporting on the impact of our service alk)ws Red Sky Foundation to enhance and see the difference we ore making to our beneficiaries. This enables us lo provide an up to dale evidenc based assessmen* to help external slokeholders and our partners engage wth and understand how our work is helping us to work more effecllvely and efticienlly whilst providing useful informallon to evalu016 and perfecl our oblectives to the needs of our service users. A more delailed descriplion of our aclivilies and achievemenls for the yeor ended 31 Morch 2024 is provided below. In the year l April 202310 31 March 2024, Red Sky Foundalion hos: Visited 32 schools and ocademies demonstrating providing heallhy heart, CPR & Defibrillotor skills on increase of 5 from Ihe previous year. - Visited 25 Commvnity hubs and cenlres. work-spaces and sporting clubs Public PTesentolions at The Bridges Shopping Centre in Sunderland and Eldon Square Shopping Centre in Newcaslle. Invested in securing 322 places in our third Great North Run on increase from 106 runners in the previous year raising over £57.COJ more than double than in 2022. Portnered with registered charity CEO Sleepoul for o third consecvlive yeor to fvndraise ond increase awareness of cardioc heollh for homeless people living with addictions which can lead to cordiac conditions. Added lo our nelwork of defibrillotors and ploced Ihem onto Ihe national dolabase for defibrillator network across Ihe UK registering them with the emergency services. Portnered with more schools in Ihe Sunderlond. Durham. South Tyneside and Newcastle education nelworks to demonslrale heart health. cpr and defibrillator awareness sessions. Continued our subcontrocted counselling service with chariloble organisation IMPACT North-Easl lo provide and engage with families affected by cardiac related illnes5 and deaths. During the year we like many others Red Sky Foundation was still trying to navigate out of the pandemic and we had lo continue lo show agility. resilience and determination lo find new ways lo fundraise by Ihe following: We mode use of digital online fundraising platfoms atlracting more partners and charity fundraisers introducing virtual events on enthuse and just giving. Red Sky Foundation was awarded full ongoing official charity partnership status in the Sunderland Runs for a 3d year running. The White Porly was back to its best raising over £30,(XK) We also held another successful golf doy, and we held our annual Red Sky Ball in March 2023 welcoming over IC(K) guests to help raise over £1 10,(K(l in unrestricted charitable funds. During the year 2023124 Red Sky Foundation: Donated l 01 defibrillators worth over £1 00.CQO to grassroots foolball clubs all over the UK Hosted the annval cycfing challenge from Edinburgh to Sunderland with over 25 riders taking part raising unrestricted funds Hosted the annual Red Sky Golf Classic raising over £12,(XX). Using innovolion, design and technology we continue lo hove our handmade interactive wishing well collecling unreslricfed lunds inside of the Bridges Shopping Cenlre in Svnderland city cenlre. Entered inlo o new lenancy agreemenl inside of the Bridges in Sunderland enabling us lo store our assets safely and securely. The annual reindeer dash took place as we extended our r81ationship once again wlh Sunderlond Buslne55 Improvemenl Districl and anolh8r chorily called The Foundation ol Lighl - Ihe event atlracled children to fun around The Bridges Shopping Cenlre in a health and filness Inilialive. Red Sky Foundation recoTded record income in charilable lunds Funded ploypens for children on Ihe high depend8ncy unil al Ihe Freeman Hospilal. Red Sky Foundation funded the purchase of a £45CQ specialist bed and bespoke disability chair for a child heart Ironsplont recipienl after receiving the request from sociol services. The Chorily awarded a gronl to The Sick Children's Trusl to cover the running costs of 3 bedrooms at Scott House which provides accommodation for parenls enabling Ihem to be close lo their children receiving heart surgery and trealmenl. During this year we have maintained Ihe funding of free fruil and vegelobles scheme awarded lo oll parents slaying in Scott House lo help them mainloin a healthy balanced diet during hospital stays. We have funded respile away days and stays at local hote15 to give long term patients parents a break from the norm. The Charity was selected by numerous counly councils, organisations and individuals as charity of the year leading lo more income streams being created. Red Sky Foundolion became ossociated partners of Durham Pofice Constabulary helping to fund a community defibrillotoroulside of each police stolion. RSF funded toys, dancing and driving lessons along with stoycations for lomilies with children living with heart disease. We produced the first batch of identifiable Red Sky Foundation bronded defibrillator carry bags for oll communities. We invested in 2 CPR interaclive kiosks using latest technology for members of the public to educale Ihemselves in life saving skills - the units are now in place ot Teesside International Airport and Sunderlond Cily Holl, Our family hordship fund was launched providing trovel costs for parents traveling lo and from their homes to the Freeman Hospital for long term families on the organ donation list. RSF funded an industrial sized freezer, indoor and outdoor furniture to support parents living in Scotl House RSF awarded 0 £5000 grant lo a charilable organisalion to supply and install a hoisl for disabled use in a respile centre when heart families need assisted care. We now have over 80 clothing recycling unils spread across communities in the North-East as part of our income generation and sustainobilily program. Awarded a grant to a photography sludent to capture Ihought provoking images of children waiting for the gifl of life on the organ transplant list. The grant become part of a huge national ongoing project as we were able lo draw from our commercial partners to make the exhibition nomed "The Call" The images of the children were used on national LED billboards as we were awarded £ICrf),QKX) in air time lo display them during organ donalion aworeness week. The compoign was circulated across every local and notional media outlets ond the exhibition has generated huge awareness giving hope to the families of over 240 children Cu￿ent￿ wailing for organ donalions. The charity continued lo use a branded van wilh financial support to pay for il through in kind sponsorship from Lookers Motor Group and Everyone Active. The vehicle helps wilh Ihe Iransporlation ol life saving defibrillators lo new sites, Iransports the educalional resuscilalion dolls for school and community visils. 11 is among one of the most valuable ossels of the charily. Communlty and Hospltal Unlt Cordloc Servlces Support Red Sky Foundation continues to provide support, educalion and guidance lo schools. communities and work places keen to improve on the skills reqvired to preserve life. Our focus is on increasing Ihe safety and the chances of surviving OLrt of hospital cordiac arrests and empowering them to make positive impacls in the region. Followng a needs assessmenl, we work wilh the NHS ond the North East Ambulance Service to develop a support plan for everyone wth in our service areas to cover topics such as heart heallh, skills development, confidence to use a life Saving defibrillator and an area demographic pinpointing the key areos lo place on externol automated device. The service is delivered in group sessions allowng Red Sky Foundation to bring individuals together and fill the gap around community loneliness and through our group work we are able to encourage conversation and personal development programmes. We currently deliver services in all over the North Eosl and we have concenlrated out efforts in South Tyneside and Sunderland where there is still a desperate need for on increase in defibrillators. However. we have identified these areas as places in need of our support ond our cardiac equipment to help save lives. as a result we work with local counsellors ond heolth professionols using reslricted funds through grants awarded to Red Sky Foundation lo fvlfil Ihe needs of our communities. Red Sky Foundation also delivers support for families and individuals affected by bereavement and the trauma involved in heart related dealh or ongoing treotmenl for such heart related conditions. The charity works closely with colleagues wilhin local authorities around the North East, including close working partnerships with Northumbria and Durham Police. Ihe Fire Service and Ambulance Service from across the region. The chority receives valuable insight in to working requirements and needs from cardiologists. specialist nurses and cardiac consultants in heart units ot the Freeman Hospital, Svndertand Royal Hospital and Jomes Cook Hospital in Teesside. Red Sky Foundation work collaboratively ￿￿th olher specialisl organisalions and other charilies to help those in need of our support and their families. As previously mentioned, during the year. Red Sky Foundation have provided education sessions ot over 50 differenl locations across the region to increase the awareness and knowledge providing in excess of 30,(￿ individuots with the skilEs needed to save o life in the event of a cardiac arresl. Our sessions focused on personal development, core values, healthy living with an emphasis on diet and regular exercise lo demonslrate the results of following our odvice can leod lo a healthier lifestyle and increasing the chances of reduclng cardiac related illnesses. Healthy Hearts Programme for Ihoje uslng exewclie In Ihelr dally roulln•s. Red Sky Foundalion conlinues lo parlner wilh the leisure provider Everyone Aclive as a channel lo deliver our projects lo focus on swmming and cordlovoscular exercise. We offer porlicipaling individuals and ollendees of Red Sky Foundalion events including those who allend our information sessions Ihe chance to experience exercise by providing single ond fomily access to exercise passes lo Ihe leisure cenlres who can provide further hinls and lips to maintain a healthy heart lifestyle. These services were ollered in Sunderlond and Woshinglon in Tyne & Wear. Our Reslart A Heart projecl is offered to communities, schoo15 and work places 01 year round al zero cost to the recipienl and it has reached nearly double the amount of schools we visited in Ihe previous year. This yearwe visiled over 30 primary and secondary schools each engaging in the programme where every member ol staff and each sludenl ore given the skills Ihey need lo be able to save o life. They are also given the skills which are Iransferrable to take home and demonstrate their newly acquired skills lo others which will have o positive impact on them. Iheic families and Ihe wider communily. Red Sky Foundation has maintoined ils strong links wilh Durham County Cricket Club Community Foundation, various football clubs and also with Grassroots Foolball UK to work wilh grassrools sports teams and a partnership hos continued lo flourish with the South Tyneside Bowling Association. During Ihe year the choflty has bonded lo collaborate with The Women's Inslilule across the North East, the University of the yd Age and other locol sports and social clubs enabling many more individvols and group to occess our services. Boxing Day Dip - we once again partnered wlh Lions Internotionol to orgonise the Sunderland Boxing Day dip to encourage fundraising lo be shared equally between us both. We demon5traled our abilily to hosl and organise a large scale public evenl in open space for Ihe second year running ond attracted many supporters of local and national charities to toke part raising money tor lots of different causes. As the organiser, Red Sky Foundalion gained huge awareness ond mony commendations from members of the public and Ihe local aulhorilies. Hospltal Trusts Red Sky Foundation conlinue lo maintain regular contact with specialist cardiac units specific to Freeman Hospital. Sunderland Royal Hospital ond James Cook lo help and support improved core for babies. children and adults in need of cardiac surgery and care. To better underslond the individual needs and demands of each hospital and their relevant departmenls regular strotegy meelings have been held Ihroughovt the year both online, on lelephone and face to face ond th8 chorily is committed lo provide ongoing support to fully fund specialisl machinery for quicker potient diagnosis ond treatment. Our Slaff and Volunteers The quality and effecliveness of our services ore significantly influenced by the drive. determination, attitude and compelence of our founder CEO ond our board of truslees, hence our commitment to continuous improvement through reword. troining and support is being reolised. In September 2023. the board mode the conscious decision to recruit and fill a marketing communications and events role to add to the foundations being pul in place to put the charity on lo a sustainable path. Recognising the need for su510inoble growlh we are discovering more opporlunilies and roles will need lo be filled in certain fields to mainlain Ihe growth Irojeclory. Our bank of volunteers is growing and Ihey are commilled and passionale oboul the work we ore delivering and the charily provides them wilh ongoing personal and professional development throughout. We have also recruiled freelance qualified support slalf lo help deliver on various projects which include event cover and our community engagemenl plons keeping in fine with oul charilable goals and objectives. This directly impacls upon our abilily to provide a quality user experience which delivers outcomes for beneficiaries, fundraisers and supporters. In oddilion, we have increased our pool of volunteers and we now hove 42 regular and reliable volvnleers who support our work in communities across South Tyneside, Durham, Newcaslle and Sunderland. Our continued gr0￿h plans are now seeing on increase in personnel across the UK in cities which we are developing strong links to beneficiaries of our chority work. Red Sky Foundalion aims to provide the best volunleering opportunities, experience and high-quolity support for those who volunleer with us. Our CEO provides them with a clear role. explaining what is expected and when they are needed to volunteer. A process is in place for them to be offered on induction lo their role and any relevant Iraining required is provided. We recognise the different skills and allributes each person has and we maintain a vision to share ourcore values making sure that everyone adheres to them. The involvement of local people as volunteers in activities that enhance the experience of those who engage with our services is incredibly important and our processors ensure thal everyone ocross all sectors hos the same enjoyable experience of being associated with our brand. Without volunteers, freelance leams. supporters and fundraisers we wouldn't be able to deliver the oulstanding services thaf we do today. The Chority's continued success in meeling ils aims and objectives is a lestimony to our people. We ore graleful for their passion and commitmenl in their work and their sense of responsibility to the communities, hospitals. heart heroes and the families we exist to serve. Compllmenls. concerns and complalnts We genuinely want lo hear feedback, complimenls help us to do more of what works, concerns and complainls help us lo improve. Red Sky Foundation aims to deliver excellence and provide an unrivolled fundraising experience. Mosl of the time we do this but unfortunately in Ihe very rare occasion sometimes we don't get it right. If anyone accessing our seNice feel Ihal's the case. w@ encourage them lo tell vs straighf away or as soon as they can. The charity has a robusl policy ond procedure in place and we ensure those accessing our seprfices and other members of the pvblic that they have the support to feedback to us. Red Sky Foundation is registered with the fundraising regulator who sel a code of fundraising practice setting standards that apply to our fvndraising aclivilies. Partnershlp Work Red Sky Foundalion is commilled lo the prlnciple of portnershlp working and collaboraling lo maximise the effecliveness of our own service5 and we are keen to work with and learn from other organisalions. In eoch of the areas in which we work. we have developed strong links al delivery, praclitioner and slfalegic levels to ensure we can offer the best service lo our stakeholders. FINANCIAL REVIEW Prfnclple sources of fundlng We would like lo give Ihanks to the individuals and our growing number of corporate donors and contributors who have made monelary and time donotions to the charity over Ihis year. They allow us lo make purchases for essentiol life-saving equipment machinery and maintain our provision of services to b8neliciaries we ore SUPPOrting. Reserves pollcy The policy of the trustees is to ensure the general reserve is sufficienl lo cover up to a maximum of 12 months running costs which is once again eslimated lo be £IOO,000. The reserves policy is reviewed annually and amended by the Iruslees if necessary. The trustees hove Ihe authority to invest in such assets they see fit. The trustees have assessed restructured the budgets tor the coming year and we believe thal Ihis is sufficienl to meet the running costs of the Charity. In the future, as our growlh patterns increase, we are forecasling Ihe need to slrengthen the reserves lo make Ihe charity more resilient lo unexpected developments or incoming grant applications on varied scales. This gives total funds Ihe charity holds at the end of the reporting period of £671,057 at 31.03.2024 and12023 £350,788) The various commitments provided by Red Sky Foundation remain vital to our service users, cordioc unils across districl hospitals, patients, families, schools and our local communities. However. obtaining funding for the charily's work continves to be challenging. The charity's moin fvnding sources are from fundraising events. The charity or ony person acting on behalf of the charily have nol been subject to an undertaking lo be bound by any voluntary schem8 for regulating fund-raising. or any voluntary standard of fund-raising. in respect of octivilies on behalf of the charity, Government cutbacks, auslerily measures and financial cutbacks have led to reductions in funding to local authorities. the department of public health and other funding streams. As a result, grant funding for services has reduced and compelilion for gront funding is considerable. Not only is this restricting our aclivilies but we are seeing o notable rise in the grant applications being made to ourselves - or which we are commilted to fulfilling the majority of requesls which are applied for. Within this ever increasingly demanding environmenl and the charily's 3Td year of exislence Red Sky Foundation has successfully navigaled Ihe fine line between protecting the inleresls of seNice users, by continuing lo offer vltal setvices wthin our communities, whilst prolecting the charity's flnanclal int8grlty by ensuTing Ihat any service offered is financially viable, The con501idation of services the charily provides within the constitution leoves it wllh a more focussed range of serrfices Ihat are financiolly and operotionally feasible. Against Ihis background, we ore pleased Ihal we hove been able lo attracl funding lor core services. we have received generous corporote donations to build our funding slreams which have been used lo expond our public defibrillolor service nelwork and slrenglhen our reserve5. We have crealed and enhanced our brand presence across Ihe region v5ing our soclal media plalforms, our visibility at evenls and strong media PTesence using all medla plalforms by developing strong links wilh stakeholders. Our growth is subject lo increasing numbers of individuols becoming allracted to sUPPOrting Red Sky Foundalion due to Us publicly displaying signs of what we are doing to sove lives and support those living wilh heart diseose. This year hos seen Ihe charily grow significanlly as we navigale away from Ihe issues caused by the pandemic. wlh resilience and delerminalion, we have worked hard together adhering lo Ihe charity's mission ond aims to slay sustainable. This positivity has led to a lotal rise in income in our fourth year of operation wth full charilable stalus from £628.328 to £875.320 in Ihe currenl financial year. An increase in expenses from £445.402 to in 2023 10 £555,051 for currenl year. This resulted in a net income of £320,26912023'. net income of £182.926.281 The Charity Trustees, our CEO and key sfakeholders are conlinuing to loy guide￿ne$. fovndations and work through strategic growth plans to deliver positive imF)OCts and delivery to ovr service users. We conlinue to review and regularfy monitor progress against the strategic. operalional and financial plans through Trustee meetings and regular management meeting5. FUTURE PLANS Our Trustees are commilled in continuing to invest time and money into slrotegic development. We will conlinue to focus on generating unrestricted income to allow the charity to remain agile in responding to the needs of those we serve in an even greater climate of uncertainty. Looking ahead, we wll continue lo work with current and potential new portners in developing agile and innovative solutions lo solve complex problems arising in cardioc health. We will continue to explore new markets and develop new services ensuring that those who use our services have excellent experiences of our work. The Charily will focus on the following areos.. Commit to fund grovnd breaking / world first life saving technology Implement a CRM system to ensure the long term sustainabilily of the grov*ing numbers of individuals associaled with Red Sky Foundalion by strengthening our organisalional infraslructure and systems Maintain and broaden existing relationships with local authorilies and funding providers. Development of new commercial and social partnerships. responses ond approaches Develop and expand the reach of our specialist services Improve Ihe communicalion and markeling of our offer to all stakeholders Introduce a hardship fund to help eas8 financial constrainls on the families we support while children are in hospital - Create aworen8ss campaigns surroundlng organ donallon In paedlatrics. Develop close links to the NHS and key stakeholders Explore more sustainable income streams and fundraising opportunitles. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is conlrolled by its governing document. a deed of trust, and constitutes a limited company. limiled by guoranlee, as defined by Ihe Companies Act 21XJ6. Recrullment and appolnlmenl of new trustees Trusleesldireclors are appoinled from people who have specific skills and inleresls in Ihe operation of the Charity and its aclivilies ond ore elected by the existing members, Organlsatlonol structure The Charity is run vnder the management of the Chief Executive Officer on a day- to-day operational basis. The truslees oversee, guide and govern the sfrategic developments and spend within pillars of responsibility assigned to the boord. Inductlon and tralnlng of new tru$lees As an introduction. any future new trustees are to be provided with details of the services provided, copies of Ihe minutes of recent meetings, the latest accounts and a copy of the publication "Responsibilities of Charity Trustees" issued by the Chority Commission. Pay Pollcy for Senlor Staff The board give their lime freely and no trustees received remuneration in the yeor. they have considered who the Key Management Personnel IKMPI of the choritable company are, as noted in the Reference and Adminislralion section. Together with the board. the KMP is in charge of directing ond controlling, running and operating the activities and employees of the chorilable company on a day-to-day basis. The remuneration of the KMP and employees is reviewed annually by the Board of Trustees. The Irustees benchmark against remuneralion levels of olher charities and similar organisations within the sector and across the UK. Remuneration levels are set using information together with budget and forecast information. 10 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charlty number 1188683 Reglstered office Red Sky Foundation North Sonds Business Centre Liberty Way Sunderland SR60QA Trustees Ben Robinson - Chair Person Glenn Martin - Finance l Treasurer Jodine Milne-Reader Chinny Palnaik Emma Petrucci MBE David Bartell Independent Examiner K Dawson Avery Martin Accountants & Business Advisors Salvus House, Aykley Heads, Durham. DHI 5TS REFERENCE AND ADMINISTRATIVE DETAILS Bankers Royal Bank of Scotland 4th Floor l Hardman Boulevard Manchester M3 3AQ Chlef Execvtlve Offlcer Sergio Petrucci M8E This report has been prepared in accordance with the special provisions of Porl 15 of Ihe Companies Act 2006 relating lo small companies. Approved by order of the board ot tf tees on 28.01.2025 and signed on its behalf by: Ben Robinson - Chair of The Board of Trustees, Red Sky Foundation Red Sky Foundation Charity No. 1188683 C¢xnpany No. CE021236 Trustees, Report and Unaudlted Accounts 31 Marth 2024 Red Sky Foundatl¢)n Contents Pages Trustees, Annual Rewrt Independent EKaminerfs Report Page I Red Sky Found*i TTUStees Annual Report The trustÈÈs. who are also directors of the charty for the purFKJses of the Companies Art 2(M)6, present their report with the unaudited financial statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINisfRATIVE DETAILS Company No. CE021236 Charily No. 1188683 Reelstered Offke North Sands Business Centre Sunderland SR6 OQA Dlrectors and Trustees The Directors of the charitable company are its Trustees forthe purposes of chartty law. The following Dirertors and T￿￿ee5 served during the year D. Bartell A. Bradley G. Martin J. Milne- Reader C. Patnaik E. Petnjcci (Resigned 8 June 2023) 8. Robinson Accountants Avery Martin Accountants Salvus House Aykley Heads Durham Co Durham OHI 5TS The Trustees are responsible for keeping proper accounting records that disclose with reasonable a¢curacy at any time the financial position of the chartty and to enable them to ensure that the financial statements comply with rhe Cownpanie5 Att 2C*)6. Thc Trustees are rejponsible for 3Dfesuardins the as3ctJ of the charity and hence taking reasonable steps for the prevention and detertKJn of fraud and other irregularities. The above report ha5 been prepared in accordance with the provisions applicable to companies subjert to the small companies ￿gime as set otrt in Part 15 of the Companies Att 2Crt)6 and in accordance with the Charities SORP IFRS 1021. Signed on behaff of the board B. Robinson Tru)Icc Page 2 Red Sky Foundatlon Trustees Annual Report 31 March 2024 Page 3 Red Sky Foundation Independent Examiners Report Independent Examinerfs Rewt to the tru5tee5 of Red Sky Foundati I report to the charity trustees on my examinatton of the financial statements of Red Sky Foundation forthe year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the company land also its dirertor5 for the purposes of company lawl you are responsible for the preparation of the finanrial SLltements in accordan￿ with the requirernents of the Companiès Att 2￿61'the 21XJ6 Act. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 21X)6 Art and are eligible for independent examination, I rewrt in ￿spert of my examination of your chartvs financial sLitements as carried out undersett￿n 145 of the Charities Act 20111.the 2011 Ace). In carrying out my examination I have followed the Directions given by the Charity COMM￿s1on under section 145151 Ibl of the 2011 Att. Indepèndent èxaminerfs statem As the charty's gross income exceeded £250.IXKI your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualffied to undertake the examination because l am member of Association of International Accountants IAIAI. which is one of the listed bodies. I have completed my examination. I can confimi th*( no material matters have come to my attention in connection with the examination giving me cause to believe-. • accounting records were not kept in accordance with section 386 of the 2(A16 Art: or • the financial statements do rbot accord with those records: or • the financial ststements do not Comp￿ with the accounting requirements under SeCt￿n 396 of the 2006 Act otherthan any requirement that the financial ststements 8Ne a'true and frai¢ view which is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance with the methods and principle5 of the Statement of Recommended Prattits for attount1￿ and rewrting by charities applicable to tharities preparing their accounts in accordance with thè Fimantial Reporting Standard aPpI￿able in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection wtth the examination to which attention should be drawn in this report in order to enable a proper un(krstsnding of the finanaal statements to e reached. K Dawson Assoctation of International Accountants IAIAI Avery Martin Accountants Salvus House Aykley Heads Durham Co Durham DHI 5TS 31 March 2024 Page 4 Red Sky Foundation SLitement of firbaTr(ial Acli¥itses for the year ended 31 Marth 2024 Unrestrfcted funds Total fvnds Total funds 20Vd 2024 2023 Income and endowments Donatton5 and legacies Charitable artNities Other 459,511 413,166 2.643 459,511 413.166 2.643 312,190 314,690 1,448 Total 875.320 875.320 628.328 Expenditure on: Raising funds Charitable activities Other 189,035 247.379 118,637 189,035 247,379 118,637 111.090 245.769 88,543 Total 555.051 555.051 445,402 Net gains on investments Net inc The corresponding liabtlity to the lessor is induded in the balance sheet date as a finance lease obligation. Lease paymefits are apportioned between finan￿ expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the ￿MaInIng balance of the liability. Finance expenses a re¢oBnised lfflmedlate￿, unless they are directty attributable to qualifying assets, in which case they are capitalised in accordan￿ with the chartty's ￿lIcY on bO￿oWIng costs. Assets held underfinance leases are depreciated in the same way as owned assets. Operating lease payments a￿ ￿OgnISed as an expense on a stTai8ht-line basis over the lease temi. In the event that lease incenttves are ￿(eIved to enter into operating leases, such incentNes are recognised as a liability. The aggregate benefft of incentive5 is recogni5ed as a reduction of rental expense on a straight4ine basis. Pension costs The charity operates a defined coirtribution plan for tts employees. A defined contribution plaft is a penston plan under whth the company pays fwl contributions into a separate entty. Once the contributions have been paid the company has no further payments obl￿tiOns. The contributions are recogntsed as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Receipt of donated goods. facilities and ser¥ices All donated goods facilities aTKI seThices received are rLYoEnised within incoming resources and *?¥P The corresponding liabtlity to the lessor is induded in the balance sheet date as a finance lease obligation. Lease paymefits are apportioned between finan￿ expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the ￿MaInIng balance of the liability. Finance expenses a re¢oBnised lfflmedlate￿, unless they are directty attributable to qualifying assets, in which case they are capitalised in accordan￿ with the chartty's ￿lIcY on bO￿oWIng costs. Assets held underfinance leases are depreciated in the same way as owned assets. Operating lease payments a￿ ￿OgnISed as an expense on a stTai8ht-line basis over the lease temi. In the event that lease incenttves are ￿(eIved to enter into operating leases, such incentNes are recognised as a liability. The aggregate benefft of incentive5 is recogni5ed as a reduction of rental expense on a straight4ine basis. Pension costs The charity operates a defined coirtribution plan for tts employees. A defined contribution plaft is a penston plan under whth the company pays fwl contributions into a separate entty. Once the contributions have been paid the company has no further payments obl￿tiOns. The contributions are recogntsed as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. Receipt of donated goods. facilities and ser¥ices All donated goods facilities aTKI seThices received are rLYoEnised within incoming resources and *?¥P