## **Treasurer’s Statement 2024** 

Annual Trustee Meeting Monday 17[th] March 2025 

In 2024 The Daisy Trust faced a lower level of fundraising and uncertainty as its principal fundraising event, The Daisy Trust Fair, was moving to a new venue and in a reduced format. Grant giving levels for 2024 could be maintained by spreading the funds raised at the 2022 Ball over a three year period from 2022 – 2025, and the Trustees and Committee were mindful of the challenges. 

The Trust maximised the opportunities available and held three successful fundraising events and received significant one-off donations. As a result, it was able to give grants above the level of fundraising and at the second highest level in its history. It ended the year in a strong financial position and able to embrace the opportunities of larger scale fundraising events in 2025. 

## **Analysis of Accounts for Year Ended 31 December 2024** 

## **Opening Balance** 

The Daisy Trust opening balance for 2024 was £182,999. £71,647 was allocated to grants in 2024/2025 and held in a savings account, an additional £25,347 was also held in a savings, £15,083 was invested in treasury stock and £69,188 carried forward in the current account. 

## **Income** 

During 2024 The Daisy Trust had a net income of £71,306, despite its smaller flagship fair event, this was in line with 2023 (net income £78,222). The main difference between the two years is the make-up of income. In 2024, fundraising only accounted for 61% of income compared with 85% in 2023. However, the lower level of fundraising, £44,007 in 2024 (£65,000 in 2023) was off-set by an increase in donations. Donations made up 39% of net income in 2024. 

Donations increased from £11,932 in 2023 to £27,363, an increase of 56%. The Trust does not actively seek donations and the amount received varies considerably each year, few are repeat donations although the Trust does work to have longer term relationships with donors. Three large donations were received from Goldman Sachs Gives, St James’s School and Kensington Prep School. Lucy Perry-Smith a committee member also raised funds for the Trust. Local Giving continues to provide a good platform for The Daisy Trust to receive 


1 




donations online. Total donations received through Local Giving totalled £4,321 in 2024 (£3,423 in 2023) 

Event income was raised from The Daisy Trust Fair in October, The Daisy Trust Poggenpohl Evening in May, and the Carol Service in December. 

Net income from the 2024 Fair was £30,393. This is approximately 60% of that raised in the each of the three years 2021-2023, it is a very positive outcome and is testament to the Committee’s drive and success at maximising the opportunities for fundraising at the smaller scale fair. The fair held at St Dionis Church and CAS halls, Parsons Green was well supported and attracted many new attendees. Shopper numbers were over 850 and a lot of positive feedback about the event was received from stalls and visitors. There were 67 stallholders attending (compared with 100+ in previous years), 62 of which were limited to a single stall due to space restraints. There was significant spread in stall performance: five stalls raised income over £3000 while 15 took £1,000 or less. The average spend per head was £140 as expected. 

In May, the Trust held a food and drinks evening hosted by Poggenpohl at their Fulham showroom. It included chef and bar tender demonstrations and entertainment; the costs of the event were met by the hosts. The enjoyable event was attended by 60 supporters and raised £3,576 from ticket sales and a raffle. In December, another successful Carol Service was held at St Dionis Church, Parsons Green which raised £10,217. This was an 8% increase on 2023. It was a celebrated community event attended by over 300 people. 

## **Expenditure** 

Expenditure totalled £14,830. This includes £2,274, which has been spent to secure services for events being held in 2025. Expenditure was primarily for direct costs associated with the three events. The committee worked to minimise these costs, especially the new and unknown costs of hosting the fair at a new venue. The logistics surrounding this event were significant and added to the costs which were £2,200 higher than the previous year. 

Sponsorship contributed £8,250, received in direct sponsorship from Savills, Poggenpohl and Thomson Wealth, and the very generous sponsorship in kind from Poggenpohl and donations from Waitrose and Starbucks. Website and marketing costs were minimal £900 and focussed on web hosting and Local Giving membership. 


2 




## **Grants** 

Following discussion at the 2024 Annual Meeting, the Trustees set a grant giving strategy of £80,000 - £100,000, the aim was to achieve a balance between accruing excessive funds while also maintaining a steady and sustainable level of grant giving in the longer term when income streams were less secure. 

In 2024 the Trust Committee awarded £85,407 in 48 grants to 46 organisations (£75,429 in 41 grants in 2023). This is a 13% increase on the amount of grants given in 2023 and the second highest total given by the Trust. In relation to annual income, 120% was given in grants. The Committee were mindful of the donations received this year and ensured they were given in grants. £10,000 of funds allocated to 2024 from the 2022 Ball fundraising was also given in grants. The Committee continued to make grants to meet need wherever possible, average grant levels increased and more organisations were supported. 

## **Fundraising and Grant Giving Strategy** 

The Daisy Trust will no longer be able to raise funds at the levels achieved in 2021-2023 through its Fair at the Hurlingham Club due to increased costs and a smaller event space. The Fair contributes 80-100% of fundraising in a year when the Trust does not hold a Ball, but the scale of future fairs will be smaller at either a new venue or on returning to the refurbished Club. The Committee are working hard to ensure the 2025 Ball is a success and provides income that can be spread across several years thereby maintaining The Trust’s ability to continue with high levels of grant support for the local community. 

## **Investments** 

The Trust started the year with two Treasury Gilt.  The 2019 2 ¾ 2019 -2024 matured in September 2024, the realised loss on investment was £1,019. The Trustees will wish to consider how the matured funds should be dealt with, they are currently held in the current account. The Trust continued to receive interest on its investments at 2.3%, this equated to £2,475 from the Gilt and savings accounts in 2024. £138,467 is held in savings accounts with Lloyds and Shawbrook Bank. 

## **Assets** 

At the 2024 AGM the Trust held a stable position, at year end 2023 it had a balance of funds of £182,999 in investments and working capital. 


3 




The total position for the year end 2024 is £168,897. £64,981 is held in the current account £98,833 is held across two savings accounts, and £5,083 invested in Treasury Gilt. 

## **Internal Financial Controls** 

The Trust is in the process of developing a detailed Internal Financial Controls Policy as required by the Charity Commission. 

## **Statement of Reserves** 

In determining the Trust’s Reserve Policy we have considered our level of grant giving over the last three years, this averages £95,000. We also need to have sufficient funds available to pay expenses in relation to future events which varies from year to year and an amount for unforeseen emergencies and unexpected events. We therefore, consider a reserve of £130,000 appropriate for 2025. Excess funds will be given in grants. We have no significant day to day operating expenses or salaries. 

## **Audit and Charity Commission Returns** 

The Charity Commission requires all charities with a gross income greater than £25,000 to submit independent examination of accounts with their annual return. It was arranged for a qualified accountant friend of The Daisy Trust to complete this for 2023 accounts at no cost to the Trust and the return was made on time. The same arrangement will be made for the 2024 accounts. 

In 2024, all charities making their annual submission to The Charity Commission, have been given a list of policies and procedures it expects them to have in place. The Daisy Trust have drafted a set of policies in line with this requirement which will be presented to the AGM. 

## **Caroline Mackenzie Treasurer 17 March 2025** 


4 



The
aisy Trust
5upportin8 the
Hammersmith and Fulham Community
The Dalsy Trust
INCOME AND EXPENDThURE ACCOUNT 2024
Shawbr¢yJk Bank C4F 60 day Flxed Sa¥
LI￿ BankTrÈasurers
LILTh& Bank 32 Day NoUce1￿Count
Treasury4 V4 2032
TrnIS￿ 2 314 2024
25.347.12
71.070.66
71.647.89
5.W,31
9.850.09
DaIsyTN￿I Fair 2024
DaisyTrn￿t P￿￿enpohl EYèTrlrq 2024
DaisyTrtytCarol SeNce 1024
Interest
th)hatlor6
2023 Int￿ne recei¥
37,flM.95
3.799.￿)
12.477.01
2.475.OS
27.363,28
1.519.¢X)
2024 ExpÈNJlture ￿t￿*t£4S
Total
Dalsy Trwt Falr 2024
DaisyTrust Pfuenpohl E￿nIre 2024
DalsyTrLtst Carol Semte 2024
Website and Marketiw Materials
2023 Expenditure ca5hEd
2025 Expnditure in 2024
Reallsed lo&s OTh imstment Treasury 2 314 20
7.211,25
l260.
)3.40
2.274.Crtl
LOIg.09
N•t
71J05
Grtrts
Totsl Granrs GI￿Tr 2023
85,407.Tr1
Total Gia
07X
.14,IOLJ5
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25,347.11
64.981.15
73.486.14
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I68￿97.￿
Charity Registratioll No. kn38
Trustees.. Mf R Cormack. Mf R P Ground K.C. Mfsi Lee
Mrs c Mackenzie. cllr Mr5 F Stainton. Mrs pstonor, Mr P Stonor
L3 Ranelagh Avenue London sw63PI

The
aisy Trust
5upportin8 the
Hammersmith and Fulham Community
The Dalsy Trust
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11,932
76,966
75,429
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197,811
126.547
71264
179,605
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20,428
76,422
65,145
11,297
111,498
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2020
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16,511
36.259
37,55S
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105,409
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113,826
126.712
65,655
61.057
112,374
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45,734
46.574
55,391
-8.817
47,813
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43.179
12,428
s5.[￿7
42,273
13.334
53,568
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40,456
471
40.927
51,572
.10.645
42,834
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3S.S59
2,916
38.475
SI,￿?
-13.331
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34,766
17,343
52,1(fJ
46,777
5,331
90%
2013
33.f
250
33.854
25,439
8.415
56,533
75%
2012
35,226
1,419
37,747
-1.102
51,965
103%
Charity Registratioll No. kn38
Trustees.. Mf R Cormack. Mf R P Ground K.C. Mfsi Lee
Mrs c Mackenzie. cllr Mr5 F Stainton. Mrs pstonor, Mr P Stonor
L3 Ranelagh Avenue London sw63PI

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aisy Trust
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CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examiner's
report on the accounts
Section A
Independent Exalninerfs Report
Report to the trusteesl
members of
The Daisy Trust
On accounts for the year
ended
31 December 2024
Charity no
(if any)
283890
Sot out on pages
I r8POrt to the trustees on my axamination of the accounts of the above
charity (Ihe Trust.) for the year andéd 3111212024.
Responsibilities and As the charity trustees of th6 Trust, you are responsible for the preparation
basis of report of the accourrts in accordance wtlh the requirements of the Charities Act
2011 {°th& Acr).
I report in respect of my examination of thè Trust's accounts carried out
under section 145 of the 2011 Act and in caryng out my examination, I
have followed thè applicable Directions given by the Charity Commission
under section 145(5Xb) of the Act.
I have wmplet8d my examination. I confirm that no material matters have
come to my attention (other than that disclosed below ') in connoction with
the examination which gives me cause to believe that in. any material
rgspecL'
accounting records were nol kept in accordanc8 wilh seGlion 130 of
the Act or
the a¢counts do not accord with the a¢¢ounting records
Independent
examiner's statement
I have no concerns and have ￿me across no other matters in connection
with the examination to which attention should ba drawn in ordèr to enable a
proper und8rstanding of the accounts to b6 rèached.
' Pleas6 delete the words in the brackets rf thay do not apply.
Slgned:
Dato:
17110170
Name:
Alison Duncan
Relevant professional Accountant ACA
qualificationls) or body
(if any):
Address:
1 Elm Close
Leatherhead
Surrey Iff22 8HA
IER
October 2018

Section B
DisclosLJre
Only complete rf the examiner neads to highlight mattèrs of concèm (séè CC32,
Independent examination of chartty accounts.. dir8ctions and guidanc8 for
examiners).
Glvo here brlef dotalls of
any Items that the
examiner wlshos to
disclose.
IER
October 2018