REGISTERED CHARITY NUMBER: 1190362
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
FOR
DREAM BIG TRUST
P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton Lancashire BL1 3AJ
DREAM BIG TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Statement of Trustees' Responsibilities | 5 | ||
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Notes to the Financial Statements | 9 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
DREAM BIG TRUST
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 JULY 2024
| TRUSTEES | S C Howard (resigned 6.9.23) |
|---|---|
| A Dyble (resigned 5.9.24) | |
| M Blakey (resigned 20.3.25) | |
| J Birch (resigned 20.3.25) | |
| A Walker (resigned 9.7.24) | |
| Ms L R Hogg (resigned 9.7.24) | |
| Mrs S Saunders | |
| Ms A Grantham (appointed 6.9.23) (resigned 5.12.24) | |
| H Chabala (appointed 1.3.24) | |
| Ms A D'Amelio (appointed 13.5.24) | |
| Ms R Stratton (appointed 13.9.24) | |
| Ms K Guthery (appointed 29.1.25) | |
| Ms S M Davis (appointed 20.3.25) | |
| O Peacock (appointed 20.3.25) | |
| Ms H Fellows (appointed 20.3.25) | |
| PRINCIPAL ADDRESS | Atria |
| Spa Road | |
| Bolton | |
| Lancashire | |
| BL1 4AG | |
| REGISTERED CHARITY | 1190362 |
| NUMBER | |
| INDEPENDENT EXAMINER | P B Syddall & Co |
| Chartered Accountants | |
| Grafton House | |
| 81 Chorley Old Road | |
| Bolton | |
| Lancashire | |
| BL1 3AJ | |
| BANKERS | Barclays Bank plc |
| Leicester Branch | |
| Leicester | |
| LE87 2BB |
Page 1
DREAM BIG TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
The trustees present their report with the financial statements of the charity for the year ended 31 July 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The trust's objectives are to further such charitable purposes as the trustees see fit from time to time in particular but not limited to the prevention or relief of poverty by providing grants to individuals in need and/or charities or other organisations working to prevent or relieve poverty.
The trustees confirm that they have referred to the guidance contained in the charity commission's general guidance on public benefit when reviewing the trust's aims and objectives and in planning future activities and setting the grant making policy for the year.
The trust carries out these objectives by providing grants.
At the quarterly committee meetings the trust agrees the broad strategy and areas of activity for the trust including consideration of grant making and fund raising activities.
There are two further sub-committee's that look after fund raising and grant making. Decisions are made within these sub-committee's and brought to the quarterly full committee meeting for approval.
Grantmaking
In order to make grant giving decisions trustees will focus on the quality and effectiveness of the desired outcome of each application with an emphasis on applications which strengthen an individual's life chances or civil society overall.
Trustees expect that grants will normally support one or more of the following outcomes:
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Helping any person who is care experienced or with additional needs to make their dream a reality.
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Allowing any person who is care experienced or with additional needs to take their next steps and improve their future
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life chances.
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Supporting a child or young person with additional needs where those who have financial responsibility for them
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cannot meet all their requirements.
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Supporting charities, services or projects who serve those in our society most in need.
The trust is unable to fund:
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Anyone outside of the UK
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General running costs for other charities and business
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Private home or garden renovations
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Mortgage, rent or any other household bill payments
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Gaming & social IT hardware
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Holidays
Page 2
DREAM BIG TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The trust has donated £23,759 in grants over the period to 47 applicants.
Here are a few dream big stories:
The trust has helped "EN" towards funding for hearing aids and a receiver specially designed for people with ASD and APD. "E" has Autism, ADHD, Dyspraxia and Dyslexia but works as a learning support mentor at college & assistant coach for UWE Pirates Wheelchair basketball club. The equipment has led to improved social communications and increased freedom to venture outside and pursue hobbies.
A tent & camping supplies were provided to "EC" who has Autism, ADHD, Anxiety, Depression & OCD. "E" is naturally creative and donates some of her works to local charities.
Support was given to "HA" who is a paraplegic power chair user to pursue his desire in making short documentary films. "H" has a vision to one day launch his own film production company but currently focusses on short videos covering various social subjects such as the effects of gentrification and community issues
FINANCIAL REVIEW
Financial position
The trust endeavours to keep minimum cash reserves of £50,000 to ensure a continuous grant making cycle. At the balance sheet date there were funds of £143,876 available.
The trustees' plan is to accelerate grant making decisions and disburse more funds, in particular it is hoped that the amount of grants provided in the new financial year will be increased significantly.
Principal funding sources
The main source of income during the year to 31 July 2024 is from the sale of donated technical goods eg mobile phones and laptops that have been refurbished.
The goods are donated from Outcomes First Group who have also provided the time of a member of staff to maintain an eBay account in which the goods are sold. All proceeds from the sales are donated to the trust.
There has been no charge for cost of maintaining the eBay account but this may be re-considered in the future.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes a CIO.
Recruitment and appointment of new trustees
The existing trustees appoint new trustees and there is no time limit on length of service.
All trustees give their time freely and no trustee remuneration was paid in the year.
Organisational structure
The charity was set up by Outcomes First Group in the summer of 2020.
Wider network
With the exception of H Chabala and S Saunders all trustees are employed by either Outcomes First Group or National Fostering Agency.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Page 3
DREAM BIG TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024
Approved by order of the board of trustees on 20 May 2025 and signed on its behalf by:
Ms K Guthery - Trustee
Page 4
DREAM BIG TRUST
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY 2024
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed 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 of the incoming resources and application of resources, including the income and expenditure, of the charity 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 charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to 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 trust deed. They 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.
Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DREAM BIG TRUST
Independent examiner's report to the trustees of Dream Big Trust
I report to the charity trustees on my examination of the accounts of Dream Big Trust (the Trust) for the year ended 31 July 2024.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
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:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
A J Syddall M.A., F.C.A. The Institute of Chartered Accountants in England and Wales
P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton Lancashire BL1 3AJ
20 May 2025
Page 6
DREAM BIG TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 63,079 EXPENDITURE ON Charitable activities Charitable activities 26,448 NET INCOME/(EXPENDITURE) 36,631 RECONCILIATION OF FUNDS Total funds brought forward 107,245 TOTAL FUNDS CARRIED FORWARD 143,876 |
2023 Total funds £ 11,408 33,352 (21,944) 129,189 107,245 |
|---|---|
The notes form part of these financial statements
Page 7
DREAM BIG TRUST
BALANCE SHEET 31 JULY 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 143,876 NET CURRENT ASSETS 143,876 TOTAL ASSETS LESS CURRENT LIABILITIES 143,876 NET ASSETS 143,876 FUNDS 4 Unrestricted funds 143,876 TOTAL FUNDS 143,876 |
2023 Total funds £ 107,245 |
|---|---|
| 107,245 | |
| 107,245 | |
| 107,245 | |
| 107,245 | |
| 107,245 |
The financial statements were approved by the Board of Trustees and authorised for issue on 20 May 2025 and were signed on its behalf by:
K Guthery - Trustee
The notes form part of these financial statements
Page 8
DREAM BIG TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
TAXATION
The charity is exempt from 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.
GOING CONCERN
At the time of approving the accounts the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.
continued...
Page 9
DREAM BIG TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
4.
| INCOME AND ENDOWMENTS FROM Donations and legacies EXPENDITURE ON Charitable activities Charitable activities NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.8.23 £ 107,245 107,245 Incoming resources £ 63,079 63,079 |
Unrestricted fund £ 11,408 33,352 (21,944) 129,189 107,245 Net movement At in funds 31.7.24 £ £ 36,631 143,876 36,631 143,876 Resources Movement expended in funds £ £ (26,448) 36,631 (26,448) 36,631 |
|---|---|---|
continued...
Page 10
DREAM BIG TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
4. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS |
At 1.8.22 £ 129,189 129,189 |
Net movement in funds £ (21,944) (21,944) |
At 31.7.23 £ 107,245 |
|---|---|---|---|
| 107,245 |
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 11,408 | (33,352) | (21,944) |
| TOTAL FUNDS | 11,408 | (33,352) | (21,944) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.8.22 £ 129,189 129,189 |
Net movement in funds £ 14,687 14,687 |
At 31.7.24 £ 143,876 |
|---|---|---|---|
| 143,876 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 74,487 | (59,800) | 14,687 |
| TOTAL FUNDS | 74,487 | (59,800) | 14,687 |
continued...
Page 11
DREAM BIG TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024
5. RELATED PARTY DISCLOSURES
During the year the trust's main source of income has been generated form the sale of donated goods from Outcomes First Group, a group of companies which employes five of the trustees of the trust.
Page 12
DREAM BIG TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | - | 11,408 |
| Subscriptions | 4,598 | - |
| Sale of donated goods | 58,481 | - |
| 63,079 | 11,408 | |
| Total incoming resources | 63,079 | 11,408 |
| EXPENDITURE | ||
| Charitable activities | ||
| Insurance | 364 | 614 |
| Grants to individuals | 23,759 | 32,306 |
| 24,123 | 32,920 | |
| Support costs | ||
| Management | ||
| Administration support | 1,875 | - |
| Governance costs | ||
| Independent examination fee | 450 | 432 |
| Total resources expended | 26,448 | 33,352 |
| Net income/(expenditure) | 36,631 | (21,944) |
This page does not form part of the statutory financial statements
Page 13
Dream Big Trust Atria
Spa Road Bolton BL1 4G
P B Syddall & Co Chartered Accountants Grafton House 81 Chorley Old Road Bolton BL1 3AJ
Dear Sirs,
DREAM BIG TRUST
We confirm to the best of our knowledge and belief, and having made appropriate enquiries of other trustees and staff of the charity, the following representations given to you in connection with your review of the charity’s accounts for the year ended 31 July 2024.
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We acknowledge as trustees our responsibility for the accounts, which you have prepared for the charity. All the accounting records have been made available to you for the purpose of your review and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records.
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We confirm that there have been no changes in the accounting policies.
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In our opinion, the accounting policies are appropriate to the charity and conform with generally accepted accounting principles. We confirm that all transactions and balances have been accounted for in accordance with these accounting policies.
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We confirm that all assets have been included in the balance sheet.
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We confirm that all assets included in the balance sheet exist.
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We confirm that the charity owns all the assets included in the balance sheet, unless otherwise stated in the accounts.
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We confirm that the cost (or value) of all the assets in the balance sheet are fairly stated.
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We confirm that all liabilities have been fully recorded in the balance sheet.
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We confirm that all liabilities recorded in the balance sheet are properly those of the charity.
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We confirm that all liabilities have been recorded at a fair value.
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We confirm that there has been no netting off of assets and liabilities.
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We confirm that all income has been fully recorded and correctly classified.
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The charity has not at any time during the year had any transactions with trustees and connected parties.
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The charity has no contingent liabilities.
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There has been no event since the balance sheet date which requires disclosing or which would materially affect the amounts in the accounts.
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The charity has not entered into any charitable commitments.
Yours sincerely Signed on behalf of the board
K Guthery - Trustee
Date 20 May 2025