Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Stillbirth and Neonatal Death Society (A Company Limited by Guarantee) Trustees, Report & Financial statements Year Ending 31 March 2024 nds (Stillbirth ind NEonatsl tkath knetyl. Chanty Registered In Scotland 5C04278g. EngLind aT￿ Wales 299679 We alsTroperate in Northern Ireland. Company Litnited byGu3ran*e Number.. 22lJl82. RwsterfdMdre5% 1(F18 UnionStreet. London.5EI 15Z. Legal and administrative information Trustees Oliver Reichardt (Chairl Dr David Hall Ivice Chair} Tom Burdett (Treasurer) Sangeeta Agnihotri Roxanne Burrows Emma Parry {formerly Gibbsl Shetal Joshi (resigned December 20231 David Price Dr Sarah Stock Sarah Threadgould Kelly Williams Neil Ferris (appointed on 16 July 20241 Chief Executive Dr Clea Harmer bABE Company Secretary Piers Vimpany (to 15 September 20231 Dr Clea Harmer (from 23 November 2023 to 30 June 20241 Sarah Rodgerson (from l July 20241 Charity Number 299679 Scottish Charity Number SC042789 Company Number 2212082 Registered office 10 -18 Union Street London SEI 1SZ Statutory Auditor MHA 6th Floor 2 London Wall Place London EC2Y SAU Principal Bankers Lloyds Bank PIC 25 Gresham Street London EC2V 7HN Principal Solicitors Russell-cooke 2 Putney Hill. London | SW15 6AB Saving babies, lives. Supporting bereaved families Contents Le al and administrative information Contents 3-44 Trustees, Re ort 45 tatement of Trustees, res nsibilitie 46-49 Inde endent Auditor's Re 50-51 f Fin 52 83lance Sheet 53 tatement of Cash Flows 54-74 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report The Trustees, who are also Directors of the charity for the purposes of the Companies Act, submit the annual report and financial statements of Sands (Stillbirth and Neonatal Death Society) for the year ended 31 March 2024. The Trustees confirm that the annual report and Financial statements of the charity have been prepared in accordance with the accounting policies set out in Note 2 to the Financial statements and comply with the chariws constitution, applicable law and the requirements 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 IFRS1021 leffertive 1 January 20191.. Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Objects and values of the charity The objects of Sands are: _ to promote the emotional, psychological and physical well-being of parents, their families and friendg, when a baby dies in utero. at birth or soon after birth, by." the provision of svpport and infofmalion lo tkK)se so bereaved and their carers., and by working collaboratively with health and social care professionals lo improve and enhance professional Practice with bereaved parents.. and 2, to promote research and the implementation of best practice that will help identify the causes and reduce the incidence of the death of a baby in utero, at birth or soon after birth, and to publish the resurts of such research. Sands, Vision is for a world where fewer babies die and where aryone who is affected by the death of a baby receives the best care and support lor as long as Ihey need. To enable Sands lo realise this vision there are four Sands, Key Objectives, which are outlined inihe2 222 l. To be a wekoming, supportwe community which is inclusive. accessible, and known to all,. 2. To save babies, lives and to ensure inequalities in pregnancy loss and baby death are reduced,. 3. To ensuie everyone has equbl access to excellent befeavement care arid support after pregnancy loss and baby death-, 4. To grow and develop Sustainab￿ to have impact r￿W and in the future. Underpinning these objectives are Sands Values. whereby the charity commits lo.. Be compassionate, collaborative, evidence-based and inclusive,. Work 35 one organisalion,. learning from experience and striving for continual irnprovement through innovation,- Be open and honest," working with respect and integrity," showing empathy and being inclusive in everything the charity doe5. Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report 2. Public benefit The Trustees confirm that they have complied with their duty under Section 4 of the Charities Act 201110 have due regard to the Charity Commission's general guidance on public benefit. Sands has continued to provide public benefit in line with the objects of the charity through the implementation of the 022 2025 and ra Total charitable expenditure al Sands was £4.51m in 20231202412022123. £3.fvlml. Main achievements in 2023/2024 What we want Save bables, lives Ensure anyone affected by the death of a ￿bY rece1￿￿ the care and support they need The Sands Strategy 2022-2025 sets out four strategic objectives which provide a basis to demonslrale our commitment lo our core aims arKJ how we delivered on these in 2023/2024. To be a welcoming. supp)rtive communty which is inclusive, accessible, and known to all by. 1.1 Giving an equitable welcome to all 1.2 Actively finding and bringing people to Sands 1.3 Taking a person-centred approach 1.4 Working effectively at a local and national level across all four nations 1.5 Raising awareness abcKrt pregnancy loss and baby death. and about Sands Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report To save babies, lives and to ensure inequalities in pregnancy loss and baby death are reduced by.. 2.1 Understanding why babies die and developing new knowled9e to save babies, lives 2.2 Improving safety in pregnancy. birth, and the neonatal period 2.3 Reducing inequalities in perinatal mortality 2.4 Being ès well known for savin9 babies, Iwes as we are for bereavement support and care To ensure everyone has equal access to excellent bereavement care and support after pregnancy loss and baby death by.. 3.1 Ensuring Sands provides appropriate and per50n-centred support of the highest quality 3.2 Ensuring excellerni and equal bereavement care is offered by everyone, particularly within healthcare sellings and the workplace 3.3 Being a centre ol excellence.. creaiing educational and learning resources to equip professionals and volunteers with the skills and knO￿edge they need 3.4 Campaignir)g for excellent bereavement care and supporL and building a commilled and engaged supporter base To grow and develop sustainably to have impact now and in the future ty.. 4.1 Being Irusled and respe(ted as the UK'S baby loss charity 4.2 Ensuring Income grov￿ sustaiT)ably 4.3 Ensuring that as il grows, Sands is known for the impact il makes, for its integrity, and for ils willingness to learn and conlinualty improve 4.4 Supporting the sustainable growth of the charity with appropriate capacity, infrastructure, arbol resources Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Strategic Objective 1- To be a welcoming, supp)rtive community which is inclusive, accessible, and known to all Overarching outcome we wont to see." The populotion ore oware of the extent of boby loss, and of Sonds and what we ofrr Awareness of Sands in general POFxJlalion 25% 140% in populalion where there is personal experience of pregnancy loss or baby deathl, o Experience of pregnancy loss baby death = 50% of UK adults say they, or someone they know, has experienced pregnancy or baby loss 1.1 Gwing an equitsble welcome to all Outcome we want to see.. Sonds, community includes everyone who wants to be involved, regordless of who they are or whol their experience hos been In 2023124 we. Continued lo improve access to SUPFX)rt for Black and South Asian bereaved parents and families with monthly online support groups, webinars and events. Ensured those who are Deaf or hearing impaired can access support through introduction ol British Sign Language IBSLI inlerpretalion. Offered bereavement supwrt book translat¥)ns in 11 languages other than English. Expanded the online supp)rt offer to include groups for men and for bereaved parents in the Armed Forces. Launched a efriender Recruitmen video as pbn of an initiative 10 recruit Befrienders from more diverse backgrounds lo enable Sands to offer peer support more widely. ' Ornnibu5 Research Presentation by m(K)rt￿￿se Maiket Research (March 20231 2 YouGov PIC (August 20231 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report Strategic Objective 1 (continued) - To be a welcoming, supportive community which is inclusive, accessible, and known to all 1.2 Actively finding and bringing peO￿￿e to Sands Outcome we wont to see." Every bereoved parent receives ￿tOrmatIon about Sonds ofter pregnanry1055 or bcby (leL71h In 202312024 we. o Had 105 Hospital Liaison Volunteers across the UK actin9 as the link between hospitals and all of Sands, services prowding information for bereaved parents and families. Relaunched the for Bereavement Care lo recognise the importance of excellent bereavement care, and for Sands bereaved parents to celebrate and thank the healthcare professionals who provide it. Th Used social media to increase reach and awareness amongst all bereaved parents and families of all that Sands has lo offer. 1.3 Taking a person-centred approach OLJlcome we bwanl to see.. Peoples individual needs for support or involvement are met In 202312024 we.. Ensured that OPFOrtunilies for support were offered in a variety of ways lo meet individual needs,. these included family fun days. ciaft events, run clubs. gardening clubs, choirs, and walk-and-lalk sessions. Developed new systems for collectirKJ parental feedback both on existing Se￿iCe5 such as Memory Boxes, and also on new resources such as a Grief Journal. This has helped to ensure co-production Iiryiiiii, Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report Strategic Objective 1 (continued) - To be a welcoming, supportive community which is inclusive, accessible, and known to all Udertook a survey of our volunteers lo understand better how lo meet their needs. 92% of voILJnleers sèy Ihey intend lo be volunteering in 12 months. time and 75% would recommend Sands as a gThyJ place lo volunteer. "You help people in mony ways and l oppreciote it so much, I'm also 9lod that nobodyjudged meforonlybein9 14" "ljust wonted to soy thonkyou 09ain... It was cathortic to shore the nuances ofgrieving o boby as o South Asian~ Quotes from bereavcd parents who have accessed Sands, services and whose personal necds for sUPPOrt were mct 1.4 Working effecbvely at a local and national level across all four nations Outcome we want to s&.. Sonds 15 relevont to Gll communities, whether I(￿01 or nutionoL ocross the whole UK In 202312024 we had.. A total of 864 local volunteers in communities across the UK including 379 Befriender5, 105 H05Pltal Liaison Volunteers, 58 Parent Speaker5. 31 Eveni Volunteer5, 19 members of Cheer Squads, arKJ 42 Sands United Football Managers. 88 offering local bereavement SUPPOrt around the UK lincluding S new groups), and 42 offering local involvement with Sand5 Thi5 compare5 to a sitnilar number of SuptK>rt Group5 and Sand5 United Football Club5 in 202212023_ Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report C￿bined Data 132 OENkiAkK GERMAIIY Over 30 Lights of Love Services around the UK, delivered by volunteers lo offer local communities the opportunity to remember their babies who have died and pregnancies which have been lost. S Community Days bringing together over 1CK) volunteers, healthcare professionals and other members of the Sands Community to celebrate achievements and identify future local need. The Annual Sands Garden Day al the National Memorial Arb)relum bringing together over 200 attend￿5 from local communities and national roles, to celebrate and reflect on achievements aryj to remember all those babies who have died. Strategic Objective 1 (continued) - To be a welcoming. supportive community which is inclusive, accessible, and known to all io Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report l.S Raising awareness about pregnancy loss and baby death, and about Sands Outcome we want to see.. The population are OWGre of the extent of baby loss, and of Sands and whL7t we ofrr In 202312024 we.. Achieved the stalislics outlined on page 7, with 40% of those personally bereaved or close to someone personally bereaved. aware of Sands and what we offer. Raised awareness of Sands during Sands Awareness Month 2023 through the #TogeiherWeAreSandg campaign which reached 1.3 million people organically and 1.5 million people through paid advertisiro. There was a surge of 3,889 visitors to the website on 1 June. o Led Baby Loss Awareness Week IBLAW) 2023 which represenled an opportunity lo raise wareness ol Ihe impact ol baby loss with over 150 other charilies. 11 gained significant media coverage wilh over 1,380 mentions ol BLAW during the week and over 76,700 views of the website. Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report Strategic Objective 2 -To save babies, lives and to ensure inequalities in pregnancy loss and baby death are reduced Overarching outcome we wont to see." 8abies' lives are saved, ond the UK (s on track to reduce stillbuths ond neonotal deaths by5iPA by2( In 2021 Ilatesl data available) the figures sadly show that the rates of stillbirth and neonatsl death ère increasing instead of decreasing. The reasons for this are rK)t yel fully understood, but fflay be connected to the impact of Covid. o Rate of stillbirth = 4.1nOOO live births which is an increase on 2020's rale of 3.9/1000 live births Rate of neonatsl death _ 2.9nCQO live births which is an increase on 2020's rale of 2.811000 live births 2.1 Understsnding why babies die aThJ developing new knowledge to save babies, lives Outcome we want to see.. Babies, lives are saved In 2023124 we.. Supported over ￿., lo help build a beller understanding ol why babies die, and directly funded 2 studie5. Enabled bereaved parents to be involved in reviews and investigations to ensure their perspectives were Included in building an understanding of why their baby died. This included developing a range of information and n reviews. Inin Ran Sands Insights Core Group to ensure inclusion of parent input into a range of projec15 and studies. Worked w1th NHS England and the Royal COll￿e of Paihologists on plans to address the perinatal pathology crisis. Postmortems are crucial in understanding why babies die, and in providing answers for parents, but the lack of perinatal pathologists has had a severe impact on many parents. We have ensured that t￿reaVed parent5, concerns have been included in the plans to address the crisis. 12 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report Strategic Objective 2 (continued) -To save babies, lives and to ensure inequalities in pregnancy loss and baby death are reduced 2.2 Improving safety in pregnancy, birth and the neonatal period Outcome we want to see.. The highest standards olevttlence-based maternity ond neonatal core ore delivered consislenily across the UK In 202312024 we. Published Ihe SaThds and Tommy's Joint Policy Unit's first vin Babies, Lives Pro res Re Ort 2023 which summarised all the available data and ouilined the areas of focus In order to save more babies, lives. Conducted and published a survey of Bereaved Parents, Ex identified where changes in care are needed. eriences f Care which Ensured perinatal mortality data presented by M8RRACE-UK included a red flag system lo alert the NHS to unirs ol concern. Published an analysis ol NH of maternity and neonatal services which highlighted the need for improvements, eS￿CIallY in relation to safety and standards ol care. Responded to consultations aThJ inquiries to ensure a focus on saving babies. lives and tackling Inequalities. These included giving evdence to the House of Lords Preterm Birth Lvry, conlribuling lo the Health Select Committee Inquiry N der LtyULLWI and making a submission lo HM Treasury ahead of the autumn 51alerYeiil and spring budget to make Ihe case for additional Investment in fnalernity and neonatal services. Published our Pri safer maternity and neonatal care ov rnm d(tument outlining steps needed to deliver tlan Were involved in wide range of external programmes of work in S£￿￿ arid across the UK. 13 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Strategic Objective 2 (continued) -To save babies, lives and to ensure inequalities in pregnancy loss and baby death are reduced 2.3 Reducing inequalities in perinatsl mortality Outcome we wont lo see." All mothers ond bobies have equity of outcome compored with the current best position Current position". Black babies are twice as likely as white babies lo be stillborn, and Asian babies are SO% more likely lo be stillborn than white babies . Black and Asian babies are more likely lo die in the neonatal period than while babies. Stillbirth rates in the most deprived areas are almost double those in the least deprived areas, and neonatal mortality rates also Increase with deprivation In 202312024 we.. Published sa0diLg￿ and shared the experiences of Black and South Asian bereaved parents whose baby died during pregnancy or shortly after birth. The findings were widely disseminated and were followed by a government announcement of a £50 million research/policy fund to tackle maternity inequalities. loinily led the hA rn with Tommy's. One of the Consoflium's projects focused on supporting the implementation ol Local Malerr)ity and Neonatal Systems, ILMNSI Equity and Equality plans. designed 10 reduce inequalities in maternity and neonatsl care. The sands Listening Project Saving B3bie£ Lives Report- Sands and TiJmmls Jixm Polry Unil (May 20231 ° Saving Babie5. Lives Rew)rt- Sands and TtynFnlsJ￿nt PolKy Unrt (May 20231 14 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Strategic Objective 2 (continued) -To save babies, lives and to ensure inequalities in pregnancy loss and baby death are reduced 2.4 Being as well known for saving babies. Iwes as we are for bereavement care and support Outcome we wont lo see." Sands gGins SUPPDrt from those who wont to S￿ ba￿e5, lives saved In 202312024 we. Were awarded the Amplifying Voices Award at the Sheila McKechnie National Campaigner Awards 2023 for our work on securin9 the MBRRACE-UK Confidential Enquiry into the deaths of Asian and Asian British babies. Held the secretafiat for the APPG on Bab Loss and increased errfjagemenl with parliamentarians through e-aciions. 15 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report Strategic Objective 3 - To ensure everyone has equal aC￿sS to excellent bereavement care and support after pregnancy loss and baby death Overarching aims we wont to see.. The 8ereavement Support we ofrr demonstroty meets the d￿e￿e needs of bereaved porents ond forni1￿5 The Notional Bereovement Core Pothwoyis emEedded acmss England ond Scotland ond Bereovement Core Pothwojs hove been ffttroduced in Wales ond Northern Ireland In 202312024 Sands supported 69,331 people (though this number does not include visits lo the support web pages) This compares lo 202212023 when Sands supported just over 54,000 people. By 31 March 2024 over 99% of Trusts in Engla￿￿ had signed up lo the National Bereavement Care Pathway INBCPI,. I(K)% of Health Boards in Scotland had signed up,. and there were agreements In place lo develop pathways In Wales and Northern Ireland. 3.1 Ensuring Sands provides appropriate and Ferson-centr8J support of the highest quality Outcomes we want to see.. BereGvedparents frel support from Sands has helped them Bereavedparenls L7nd fGmilies t7re able to grow around their grief feel hopefvl for the fviure, and hove increased seff-effict7Cy In 202312024 we.. 5ialled all our SUPPK)rt channels. including.. The Facebook Support Group wih 18,790 members The Online Community with 3,835 users Answering 2,972 emails An5werir)g 2.089 ielephone calls "Thankyou so much.yourmessage has brought comfortand clarity & I con begin to acknowledge the love I will olwoysfeelfvr these tiny lives." Quote from bereaved parent who accessed Sands, services 16 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Strategic Objective 3 (continued) - To ensure everyone has equal access to excellent bereavement care and support after pregnancy loss and baby death Sent out". 11,577 Bereavement support books 6,083 8ereavemenl packs 5,295 Birth cerlilicales 4,132 Hand and Footprint kils 2,561 Memory Boxes 419 Long Ago Bereaved resource packs 168 Tracing a baby's grave bookleis "They responded sofast and they asked what I would like in my memory boxesfor my baby I have105t and they was so lovely." "Sonds Bedfordshire hos not only been o huge support and lifeline to my sister and her boyfriend but to our wholefamily." Quotes from bereaved parents and families who have accessed Sands, services Provided local support.. In Norihern Ireland, and S In Wales). Through 42 niled Football supporting over 800 people. Through activiiv-based support across the UK such as running groups and choirs. 17 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report Strategic Objective 3 (continued) - To ensure everyone has equal access to excellent bereavement care and support after pregnancy loss and baby death 3.2 Ensuring excellent and equal bereavement care is offered by everyone, particularly within healthcare settings the workplace Outcome we want to see.. Bereaved parents and fL7milies ore supported in their griefiourney as they receive the care they need in both heotthcore settings and the workplace In 202312024 we.. Coniinued lo roll out and embed the N England with.. Only two NHS Trusts not signed up 10 the NBCP by the end of March 2024, however (hey will be signing up the remaining two trusis shortly after the year-end. NBCP workshops delwered for m(ye than 300 attendees and four toolkits launched. Continued lo roll out and embed N All 14 Health Boards signed up 10 and part ol NBCP Scotland. An independent evaluation completed and ready for publication in the summer of 2024. with.. o Held Listening Events in Wales with over 40 parents and 40 healthcare professionals in preparation for the NBCP Wales project in 202412025. Secured a 2-year contract to deliver the NBCP in Northern Ireland from 202412025 onwards. Had 105 Hospital Liaison Volunteers IHLVS) all round the UK acting as the lir)k between hospitals and all of Sands services. MNBCPW '1 was absolutely blown away by the team leading day. Their professional input, delivery and conlenl was brilliant and its one of the best workshops I've attended. I regretted not sharing the invite wider lo my colleagues and have since shared the event dales in national groups to encourage others to sign up. I have put the NBCP as an agenda point on my next meeting to discuss furtkEr with my team. Thank you.. Very well-presented day. Inspirational speakers_ I will take this back in to practice and use it to improve my role as a CONI (ca￿ of Next Infant) coordinator. G(K)d food too. Thank you for today.. 18 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Thank YOLJ for organising an excellent afternoon and putting on for free. There Is very little study and workshops that can be picked for free now and this is so valuable. Thank you for the organising and the excellent speakers - your knowledge and the work put into sessions was obvious- well done.. Strategic Objective 3 (continued) - To ensure everyone has equal access to excellent bereavement care and support after pregnancy loss and baby death 3.3 Being a centre of excellence., crealing educational and learning resources to equip professionals and volunteers with the skills and knowledge they need Otjtcomes we wont to see.. All professionals ond volunteers can occess appropr￿le training t7nd then offer/deliver the core ond 5UPPOrt thal is needed Sands is acknowledged a5 0 leader in the fvld in this oreo In 202312024 we. Facilitated 178 5es5i0n5, training 4.354 per>ple frorn a variety of profe55ion5. including." 148 session5 Wlth healthcare profe55i0nals Wlth 3.390 participant5 42 5e55ion5 foi bereavetnenl in the workplace wth 652 participants 25 sessiong for counsellors with 110 participants 21 sessions for Sands volunteers wth 83 participants 9 sessions for community-based professionals with 119 participant5 Feedback on the training showed-. Average raling ol knowledge before Iraining.. 6.5110 1 Average rating of knowledge after training.. 9/10 Average raling ol Iraining.. 4.9/5 90% reported an increase in knowledge 19 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Created and laLJnched training for professionals working in a community settin9 e.g. social services, health visitors, mortuary staff. coroners. and GPS elc. Created a Bereavement in the Workplace eLearning mixlule. Developed a post graduate qualification for Bereavement Midwives with the University of West London. Developed postmortem consent training. Developed a practical memory-making workshop for maternity staff. Delivered a workshop for specialisi bereavement M￿￿ve5 with a focus on service management and delivery. Strategic Objective 3 (continued) - To ensure everyone has equal access to excellent bereavement care and support after pregnancy k)ss and baby death 3.4 Campaigning for excellent bereavement care and supporL and building a comrnitted and engaged supporter base OLJlcomes we want to see.. Better care L7nd support t7t both a IOCGI and u nGtional level Supporters Gble to support campaigns thul they care Gbout In 202312024.. An average of oveT 1,m) e-actions were taken for each Sands campaign with over 3,000 active campaigners able to support campaigns thal they care about each quarter. Audits of provision of bereavement care were launched to assess the levels of care available acro55 the UK. The government announced a £50 million fund for research into maternity disparitie5 following Sands Listening Project Launch activity. The government and NHS England annOu[￿ed £35 million over three years to improve m3ternity Safety acr055 England, with 5peciali5t training for staff, additional tnidwives and support to ensure tnaternity service5 act on women'5 experiences to improve care. 20 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society {A Company limited by Guarantee) Sands Trustees, Report Sands '1 felt so let down because I knew I was in labour but I was told that I was being dramatic. Moth•rto iwlns bom •t 26 wo•ks who dl•d n•tywt•lty IBI•dEC•rM)b￿l Sign the open letter 21 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report Strategic Objective 4 - To grow and develop sustainably to have impact now and in the future 4.1 Being trusted and resperted as the UK'S 'go-to' baby loss charity Outcomes we want to see." The number o[people who benefit from our work increoses," the number ofsupporters increoses," the size of the chority increoses olong ￿1h on ability to drive the change that is needed Sands, Influen￿ increases Glong with an ability to drive the change that is needed In 202312024.. In total Sands, reach was $60,C(K),OCK) across digital, media and websites (not unique individuals). There were 1,938 media mentions of Sands (online and broadcast coverage only, not print medial with a potential audience reach of 4,542.6 million. Sands Ambassador, Genelle Aldred, and Golf Monthly Editor, Mike Harris, took on Sands, Golf Challenge. We used social media lo reach more people with.. Organic Social media reach of 15.111.677 Paid social media reach o112,890,814 During Baby Loss Awareness Week 2023 there were $47 million opportunities 10 See Sands and 218 mentions ol Sands Iwih 1,380 menlions ol Baby Loss Awareness Weekl. 22 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Strategic Objective 4 (continued) - To grow and develop sustainably to have impact now and in the fvture 4.2 Ensuring income grows sustsinably Outcome we wont lo see." Income is in line with budgets and proJe(tions/forecosts Overall fundraising irKome for 202312024 = £7,058,77212023. £7,029.9111 In 202312024.. Community Fundraisir¥J Raised In excess of £3.8 million. Delivered 12 Facetx)ok fundraising events Grew hero event RibtrK)n Run and raised £336,CKXJ. Delivered Siarlighi Walk Series. raising £77,068. Delivered third bespoke Snowdon Hike with 185 supporters takirrfj part and raising £ISS,(X)O Individual Giwng Developed and launched a lest raffle with plans to grow and expand gaming in 2024125 Partnerships and Philanthropy FurKlraising Achieved £1,122,184 Income against budgel £1.062.683 Launched Sands, first ever Big Give malched funding campaigns. Launched 1" year of BLAW ChampKJns wilh 35 businesses SKJned up Landed 28 new Charity of the Year partnerships Worked with other teams in Sands (Training, Engagement arKI 8ereavemenl Support) to recruit and reach nearly 38.CX)O employees with Bereavemenl in the Workplace training 23 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report 24 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Strategic Objective 4 (continued) - To grow and develop sustainably to have impact now and in the fvture 4.3 Ensuring that as it grows, Sands is known for the impact it makes, for its integrity, and for its willingness to learn and continually improve Outcomes we want to see.. Sands can demonslrole the difference it make5 ond is ocknowledged nationally ond locolly for Sands does the right things for the right reosons and in the right woy,. volunteers, stspporters and staff feel they can trust Sands to do the right thing Sands improves and Innovotes - making more of o difference year-on-jear In 202312024. We published an In iv ctRe showirKJ Sands, impact in 202212023. Baby Loss Awareness Week won Campaign of the Year 2024 at the annual Glomama Awards. Sands won two awards at the ScottishPower FouThlalion Awards 2023.. the Community Engogemenl Award and the Community Champion Award. o The 2023 Staff survey showed that 97% staff feel proud to work for Sands and 80% staff feel they can try new ideas without being worried il Ihey will work. 14 25 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report Strategic Objective 4 (continued) - To grow and develop sustainably to have impact now and in the fvture 4.4 Supporting the sustainable growth of the charity with appropriate capacity, infrastructure, and r￿oUrceS Outcomes we want to see.. Sands hos the right infra51ructure for gmwth ond development Sands is truly diverse and inclusive. Gnd o(ts equiiably Sands has the right people wth the right skills who are supported to do the righi thing Sands is an environmentally sustainable organisotion In 202312024.. The Equality, Equity, Diversity and Inclusion IEEDII group published Sands, EEDI statement and started a benchmarking process with an external consultsni. We internally 3LJdiled how sustainable Sands is as an organisalion and Identified ways to improve this such as reducing maili￿S lo supporters. We improved the way data can be managed used by.. Completing the implementation of a new Learning Management System Progressing a project to introduce a new CRM plarform, data warehouse, and e- marketing platform Running regular Technology DrO￿1n sessions to improve stsff knowledge and confidence and to exlerKI their skill sels We improved the ways people work in Sands by.. Procuring a new HR database Running performance management training for all managers We improved the way Sand5. finance5 are managed by.. Implementing new finance processes including weekly Flash Reporting Further diversifying and investing Ihe charity's assets to ensure a healthy return on investment 26 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report 3. Structure, governance and management Sands was formally established in 1988, having been founded in 1978, and 15 consliluled in England and Wales as a company limited by guarantee, Company Number 2212082. The company's registered address is 10 -18 Union SireeL LorKlon. SEI ISZ. Sands is also registered with the Charity Commi5510ri a5 a Charity in England and Wales Icharity Number 2996791 and with the Office of the Scottish Charity Regulator Icharity Number SC0427891. 3.1 Sands Board of Trustees Sands is governed by a Board of Trustee5 who act as Directors of the charitable company. The Articles ol Association sel out the process whereby Ihe members elect a total of up lo 12 Directors from within the membership of the charity, of which at least SO% musl be personally bereaved by pregnancy loss or the death ol a baby. All r￿ruitment to the Board ol Trustees is supp)rted by the Nominations Committee who make recommendations lo the Board. Newly co-opled/elecled Trustees are provided with an induction which includes the latest guidance. as well as key Information from the Charity Commission Trustees are provided with training opportunilies in order to widen their skill sets arKI knowledge. The functions of the Board are set out in Clause 22 of the Articles of Association and include selling the overall strategic development of the charity.. reviewing and adopting the annual business plan and budgeL monitoring the performance of the charity in relation to plans and budgets,. ensuring that the chariws affairs are condLKled in accordance with generally accepted standards of performance and propriety," overseeing the performance and activitie5 of local Sands Groups,. and ensuring Ihal appropriate adw.ce is taken, particularly with regard lo matters of legal compliance and financial viability. The Board of Trustees a150 delegates autlK)rity to Standing sub committees andlor 'task and finish, working groups, as appropriate, who operate within the Regervatiorn and Delegation of Board Powers and ass(Kiated Framework of Authorty. Trustees are required to retire three years after their appoinlmenl. However, Trustees are eligible for re-apFX)inlment for a second thr￿-year term provided that no Trustee serve5 more The e55ential tru5tee.' whatyou n￿d to know. wh(rtyou need to do ICC3. Juty 20151 at htt rnr nt 6 The Chority Governonce Code (3rd Ed_) ot htt wink ecode. 27 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report than six years in office. In exceptional circumstances the 8oard may resolve that a Trustee may serve one further term of a maximum of three years. The Nominations Committee undertake succession planning lo ensure continuity. Qualifying Indemnity insurance is held by the Charity for the Trustees. Trustees that served during the finoncialyeor under revpw ond up to the date o[opprov(71 of these finoncial slotementS.' Oliver Reichardt (Chair from Nov 20181 David Hall (Chair from September 20241 Elecied 23 November 2018, Re-elected 13 November 2021 Elected 17 November 2018.. Re-elected 13 Novernber 2021 David Hall (Vice Chair from March 20231 Ele(led 17 November 2018.. Re-elected 13 Novernber 2021 Tom 8urdett (Treasurer from July 20201 Elected 17 November 2018.. Re-elected 14 November 2020 Neil Ferris (Treasurer from Nov 20241 Elected 17 ju￿ 2024. Sangeeta AgnI￿trI Elected 14 November 2020 Roxanne Burrows Eleaed 13 November 2021 Emma Pary (Gibbs) Elected 17 November 2018.. Re-elected 14 November 2020 Shetal Joshi (Resigned December 20231 Elected 14 November 2020.. Re-elected 12 November 2022 David Price Elected 17 November 2018.. Re-elerted 13 Novernber 2021 Dr Sarah Stock Elecfed 23 November 2019, Re-elected 12 November 2022 Sarah Threadgoukl Elecfed 14 November 2020.. Re-elected 12 November 2022 Kelly Williams Elected 14 November 2020 28 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report None of the TrLJStees have any beneficial interest in the company. Short bio trust s are on ihe Sands websile.. ra hies of all 3.2 Sands Nominations Committee Members ofthe nominations committee, who were all aPp￿nted in June2iV3 are.. Roxanne Burrows ITruslee representative) Laurè Campbell Lauren Chandra-Ramanan Sarah Christian John Nicholls Chloe Ralan Greg Tallenl Kale Urquart John Whilehouse Ichairl Kelly Williams (Trustee representslivel **J', 3.3 Board Sub-committees In 202312024 the following Sub Committees supported the work of the Board.. Governance Sub Committee Finance, Audit & Risk Sub Committee Nominations Committee 3.4 Day-to-day operations of the charity and key management personnel The Chief Executive, Dr Clea Harmer MBE, together wih the senior leadership group, is responsible for, and provides oversight of, the delivery of Sand5, organi5ational 5tr3legy and the annual business plan for the organisation. ensuring compliance with statutory requirements and best practice approache5 at national level. The key members of the senior leadership group are". Daniel Brett-schneider a5 Dirertor of Fundraising & Communication5 len Coates as Director of Volunteering & Bereavement Support Kate Mulley as Director of Research. Education & Policy Piers Vimpany as Dirertor of Finance & Resources until his death in September 2023 Sarah Rodgerson as Director of Finance. Data and Resources from Ocfober 2023 29 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report In accordance with the organisalion-wide pay policy which applies to all stsff across the org3ni53tion including key management personnel, the pay and remuneration of the charity's key management personnel ha9 been benchmarked and sel with refence with an independent market review of stsff salaries that was completed in September 2019 and then subsequently In January 2022. 3.5 Staffing and staff profile The charity employed an average of 99 staff during the period under review - equivalent to 84 FTE Ifull-lime equivaleni members of staffl. 55% of staff worked directly with beneficiaries to achieve the objectives ol the organisalion and 32% worked lo promote the charity's aims through Fundraisin9 and Communications activities. Support stsff accounted for 16% of total stsff. 3.6 Sands volunteers and groups Sands has 864 volunteers, 88 support groups and 42 Sands United Teams provide national support for Sands, vision, mission, and strategic objectives. Sands, Befrienders are volunteers who deliver peer bereavement suptK)rt through structured support meelir)gs, informal activities, memorial and remembrance events. In so doing they build lasting bonds and enduring networks between bereaved families Sand5, Hospital Liai50n Volunteers also create valuable links wilh hospitals across the UK that lacilitale a range of further support to he8lih professiona15 looking to offer excellent bereavement care. They can also ensure that bereaved parent5 and families. and healthcare prole55ionals are aware of the extent of Sands, work. Sands, volunteers help to prevent the loss of babies, lives through raising awareness of the shocking number of babies dwng each year on tK>th a national and a local level, and by campaigning for the changes that are needed. They are also vital lo the fundraising efforts of the charity,. ensuring that it can achieve its ambitious aims and continue lo grow. Sands is very grateful for the wonderful work of its amazing volunteers, without whom it would not be p055ible for Sands to achieve neaTly a5 much_ 30 Saving babies, lives. Supporting bereaved families **Saving babies' lives. Supporting bereaved families. tfi>** Stillbirth and Neonatal Death Society (A Company limited by Guarantee) **----- Start of picture text -----**
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Trustees' Report ## **Review of Finances, Fundraising and Risk** ## 4.1 Financial Review - _Income_ Total income for the year to 31 March 2024 was £7,346,570 (2023: £7,512,954) which represents a 2% decrease year-on-year. The reason for this has been due to a combination of factors including, Facebook challenges, Meta have changed the way charities receive Donations which resulted in 2-week loss of income in September 2023. Due to economic uncertainty, we have seen a drop in donation contributions which may be related to the impact of the "cost of living crisis". ## o _Expenditure_ Total Expenditure for the charity to 31 March 2024 was £8,101,155 (2023: £6,799,839) which represents an increase of 19% year-on-year. The main reason for the increase in expenditure was building up activities in response to the increased income the charity received over the previous two years. This included substantial increases in research and prevention (47% increase), Bereavement care and hospital liaison (22% increase), the joint policy unit with Tommy's alongside work with the National Maternity Consortium (37%), Groups and volunteers (15%), Bereavement support (17%) and Policy and Campaigns (18%). The training and education team costs increased by (32%) In addition to increased spending on core work, fundraising expenditure also increased by (13%) due to diversification of Income platforms to stay abreast of changing supporter trends, also pivoting to other income streams for sustainability for the furture. Saving babies' lives. Supporting bereaved families 31 Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report Net de[Icit The year resulted in a nel def￿11 01 £610,226 vs a prior year surplus of £739,109. 11 is planned to fLJrther increase spendirmj in 2024125 to £8.7m. This will see expenditure increase to levels of expected income a￿1 restore the long-terrn trend as demonstrated by the chart below which shows SarKls income and expenditure over the last 20 years. Reserves and Cash flow Total Reserv￿ held ty the charity as ai 31 March 2024 were £6.357.507 12023: £6,980,1991 An analysis of the movement of Reslricled and Designated Funds Is shown in Notes 78 and 79 respectively. The Siotement of Cosh Flo￿ on page 51. shows net cash outflows from operating 32 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report 4.2 Resetves Policy The purtDse of this reserves policy is to ensure the financial sustainability of the charity and enable it 10 manage risks and unexpected events. This policy outlines the different categories of reserves and how they will be managed and takes into account the followng long-term considerations". The long-lerm commitment to care ihal we undertake to our beneficiaries, which can extend to decades. The commitment we have as an empbyer. for the job security of our staff, bearing in mind the large proportion of our expenditure that is in stsff costs The fluclualions in annual income from suprK)rters The need to fund activities to save babies lives and Improve bereavement 5UPPOrt and care across the four nations of the UK The objectives sel as part of the strategic review Unrestricted Reserves Unrestricted reserves are funds that have no restrictions on their use. The Charity aims to maintain unrestricted reseNes equal to at least 8-12 months of operating expenses. This fund.. Protects continuity of core work helps the charity manage unexpecied events. such as a sudden drop in funding/lncome or an urgent need for additional unforeseen expenditure. The Executive board will m)nilor the level of unrestricted reserves and ￿port on them lo the Board quarterly. If unrestricted reserves fall below the tsrget range, the Executive Board will develop a plan to rebuild them, such as launching o fundraising campaign or reducing non- essential spending. The lunds are invested in readily available cash deposits or longer-term FT deposits. Restrirted Reserves Restricted reserve5 are funds thai have been donated or granled to Ihe charity for a specific purpose. These funds can only be used for the intended purpose and cannot be reallocated to other activities without the consent of Ihe donor. The charity will maintain iecord5 of all restricted fund5. including the original purpose, any conditions attached, and the current balance. Restricted ftjnds will be held in a separate bank account or investment fund to ensure they are not accidentally spent on other activities. The Executive board are responsible for ensuriry restricted funds are only used for their intended purpose. Any proposal to reall(Kate restricted funds must be approved by the Board. 33 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Designated Reserves Designated reserve5 are unre5trirted funds that the Board of Directors have put aside for a specific future purpose, such as a planned projects or gr0￿h for Inv￿lMent in infrastructure. These reserves provide financial flexibility and stability for the charity. The Board will review Ihe designated reserves annually as part of the budgeting process. They will assess whether the designated purposes are still relevant and make any necessary adjustments. Funds can be moved from designated to unrestricted reserves if the original purpose is no loroer applicable. The funds afe invested aThJ are made available when needed. Review and Approval This reserves policy will be reviewed by the Board ol Trustees annualw and updated as necessary. Any significant changes to the policy must be approved by the Board. Totol Reserves Objective ond (Ktuol resenes The largel level ol Sands, reserves is thus set at be1v￿en 8 and 12 months cash operating expenditure lexcludirg depfecialionl. Total reserves stood al £6.357,50712023 £6,980.1991 however these funds include resiricied funds (where a commitment has been made to spend these monies on a particular purposel amounting lo £200,09612023.' £305.9601 and also designated funds held as fixed assets and commitments for groups projects amounting to £203.14812023.' £21S,0421. The remaining free (general fund on the balance sheell reserves al the year-end stood at £5,954,26412023'. £6,459.197). This repfesenled 8.9 monihs12023. 9 4 Tnonthsl of projected expenoiture for the next twelve months. The budget for 202412S has been set to maintain reserves with the 8-to-12-monih target identified in the reserves policy. 4.3 Investments policy The Investment Powers of the tiustees are defined in Section 4 of the Company's Articles adopted in November 2022. The amount available for Investment is determined in the Reserve5 Policy and future cash flow forecasts. The Investmeni Objecttves are to ensure that the charity's surplus funds are invested to produce a market rate of return con515tent with the obligation to meet ifflmediate financial needs and to take account of future spending commitments and possible unplanned changes in activities and the general economic outlook. Any additional funds should be invested to provide income and long term growth wthin the charity's risk profile. 34 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report The attitude to Risk is formally described as beirKJ a "cautious" risk profi'le, recognising to the need lo diversify risk across institutions and asset classes. The types of investments will be cash, near cash deposlts, gills, property, bonds, collective investments and equities. Speculative investments such ès traded options and futures are prohibited. To account for Ethical Considerations the charity will not invest in any organisaliDn where there is a practical conflict with our aims and actiwlies lin line with our Ethical Policyl and will avoid investments which may hamper our work by making Eyjlenlial beneficiaries unwilling lo use the seNices of the charity or would alienate SUFPOrters. Investment decisions are the responsibility of the Board who also agree the Investment Policy. However, the Board may delegate management of part of the investments to an approved inveslrnent adviser. in accordance with an agreement approved by the Board, and may delegate to the Finance Resources Committee the management of the remaining part of the portfolio, to be held in cash JrKI near cash deposits wlh finarKial institutions approved by the Board. The Reporting requirements for invesimeni managers will be agreed on a case by case basis, but will include a minimum of a quarterly valuaiion report 10 be submitted lo rhe Finance, Audit and Risk Committee IFARI and an annual performarKe report to be submitted lo the Board. The FAR will review the investment manager's report at each of its meetings, together with a report on the inveslment of cash balances and il will agree recommendations for futLJre investment of these balances. The FAR will meet at least once a year with the investment manager lo review investments and performance and will report on this lo the Board at its next meeting. Th appointment of the investment manager can LE determined by the Board al any lime, bul will be reviewed at least once every three years. 4.4 Going concern 2024 has been another very successful yehr for Sands operationally. We have grown in terms of increased staffing levels and work to support the increased workload. Financially we have experienced some external challengeg which has irnpacted Sands in term% of Meta/Facebook changes, the Impact of the cost-of-living crisis can also be seen with the increase of costs In the financial statements. However, we have remained resilient through these times with only a slight drop In Income. Expenditure is budgeted to exceed income in the coming year with the levels of reserves the charity holds the Trustee5 are conh'denl that the charity will remain a going concern for the foreseeable future. 35 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report 4.5 Statement of Fundraising Practice Approach to lundro1s￿9 Sands is registered with the Fundraising Regulator, and we use the logo lo demonslrète the charity'5 commitment to upholding the Fundraising Regulators, Promise. In January 2023, Sands became an organisatK)nal member of the Insb'tuie of Fundraising IloFI, demonstrating an absolute commitment to fundraising best practice through support of the Code of Fundraising Proctice. Sands al￿ has relevant tx)licies and pr(xedures that underpin its Fundraising policy and activities. Sands, Fundraising Promise outlines how we are committed io treating donors and the public with respect, fairness, honesty. and clarity in our fundraising activities. Sands will ensure il keeps ils fundraising practices under review and will work wlh others with the aim of improving practice across the charity sertor. o Monilorwg of fvndraising carried out on behalf of Sands Sands lakes all reasonable steps to monitor fundraising carried out on behalf of the charity to ensure no harm COM￿ to staff. volunteers and those that fundraise for the charity. Cleèr signposting to relevant fundiaising guidance and forms is available on Ihe Sands website. Adherence to all relevant wlicies and pr(Kedures to safeguard and protect are monitored by the designated fundraising staff lead for the event. Sands recognises the need to respond swiftly and appropriately to complaints and has a clear complain15 proc￿5. Step5 we lake to protect the public. including vulnerable people, from unreGSonably intrusive or persist8nt fundroising oppr(xKhes and undue pressure to donote Sands takes its responsibility to protecr the public. and especially vulnerable people, very seriously. Sands reviews all existing and new fundraising actNity and ensures full oversight through a rigorous development and 5ign-off pr(Ke55. Number of complaints 2023/24 There were 7 complaints in 2023f2024 IQ1- 1- Q2 - 0." Q3 - 3,- Q4- 31 36 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report Sands acknowledges the unique conne(tion between the bereavement and fundraising journey for individuals and families raisifKJ money for Sands. Sands has an ongoing commitment to upskilling staff across all teams lo respond sensitively lo fundraisers who may also be bereaved and in recognising and flagging safeguardiry issues. Sands has a Safeguardiry Lead and safeguarding training for all staff. Whilst bereavement is not in itself 8 reason for classity'ng someone as a vulnerable adult, Sands recognises th81 il places significani pressure on indwiduals who may move in and out of vulnerability durin9 their journey with Sands. 4.6 Risk identification and management The Trustees are committed to an effective progfamme of risk management lo ensure the conlinuily and sustainability ol the organisation and ils ability to achieve its slralegic objectives. The Finance, ALJdil & Risk Sub Committee of the Boafd ol Trustees reviews the charity's Risk Register on an annual basis and the key risks lo the organisalion are reviewed on a quarterly basis lo ensure Ihal appropriaie measures are taken to mitigate and manage risk. The Trustees have identified the principal risks as.. 7. Risk of income reduction or stGgnt7tion Sands, like many charities, faces the risk of income reduction or stagnation. Income reduction would severely impact our ability to deliver crucial seNices ar¥J support, whilst Stagnation would affect strategic plans for gr0￿h. These risks to income could stem from a variety ol factors such as a downturn in the economy. a decline in individual donations, reduced corporate sponsorship, or changes in government funding policies. Such financial in51ability could significantly hinder our capability lo meet the needs of those we serve, potentially affecting the breadth and quality of services we offer. It could also constrain OUT ability to invest in long-term strategic initiatives aimed al reducing baby loss in the UK. We are therefore committed lo diversifying our income sources, carefully monitoring our financial health, maintaining healthy levels of reserves ard maintaining a robust fundraising strategy to mitigate this risk. 2. L(3ck of on effertike centrolised infvrmotlon System The lack of an effective centialised information system wses a risk for Sands in several ways. There is a lack of available data to back up day-lo-day prc(esses and decision making,. an inability to capture KPIS," it acts as a limiting factor on existing fundraising irKome and development of Indmdual Giwng irKome," and it is mre difficult to engage supporters across 37 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report the organisation. In order lo address this risk Sands is intr(xlucing a new CRM, a new data warehouse and a rw e-M8rk￿ing platform. This project is on track for delivery in the summer of 2024. 3. Ineffective or inadequate cybersecurty The threat of a cyber-attack is a risk that could disrupt our otErations and compromise the sensitive information of those we support. A significant cyikr-attack could lead to loss of critical data, Interrupt our digital communicalions. and undermine trust in our organisation, Impacting our repLJtation and our fundraising abilities. Therefore. we continuously work on enhancing our IT security infrastructure and protocols, provide regular training lor our staff to re(ogn15e and avoid potential Ihreals, and have contingency plans in place to ensure we can maintain operations in the event of a cyber-attack. 4. Reliance on Meto os o plarform to support fundraising and bereovement support Sands depends on using Mela (Facebook) as a plarform to support fundraising and bereavement support. Changes in Facebook's algorithms and policies could affect our reach and engagemeni, potentially leading to a significani drop in dornaiions. We are also vulnerable lo technical Issues. This risk is being managed by diversifying and innovating with other digital platforms and by reachiry people through diverse channels and activities. There is also a locus on diversifying other income streams. S. Lack of commitment to tackle pressures on NHS staffing and capacity which occur due to issues relating lo recruitment, retention and sickness One of the risks faced by our charity relates to the persistent staffing pressures within the National Health Service INHSI. A chronic shortage of healthcare professionals, cornpounded by budgetary constraints and other systemic pressures, can potentially imp￿& thè NHS'S capacity to deliver safe materr>ity care and compassionale bereavement care for those who have lost a pregnancy or whose baby ha5 died. Sands proactively manages this risk through campaigning and policy and public affairs activity to highlight the issue, identify pressure points and garner consensus on solutions. Sands also works to suptK)rt healthcare professK)nals appropriately wherever possible. 38 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report 4. Plans for the future Sands, 2022 2025 Strale provides h clear and hmbitious roadmap for how Sands intends lo save babies, lives and to improve care and support for anyone affe(ted by the death of a baby. The slr8legy recognises the ways in which SarKJs can uniquely make a difference, and it Duilines how we will grow in a way that is not only sustainable. but also that maintains our sense of purpose and direction whilst ensuring that oui values are truty emt*dded in everything we do. The four Strategic objectives, outlined below. will continue to guide Sands, work for the next few years. To be a welcoming, supportive communty which is inclusive, accessible, and known to all 11 is clear that the idea of Sands as a community is at the very heart of all that we do- il is who we are, and it is how we make a difference. We will continue to develop strong commLJnities based on location,. and also lo build our cornmunilies based orn experience, on interest, and on different activities such as football, gardening and choirs. We will build on our work with Black and South Asian communities and exploring how to work with younger parents. Community development coordination will be achieved through Community Connectors who will enable current and future volunieers 10 share information, organise activity and family engagement. and link with befrienders groups and teams. Continual Improvement of the volunteering experience at Sands will be based on the annual volunteer survey and will include ongoing volunteer recognition and annual awards. Work will continue to make suie we aTe working effectively at both a national and local level, building our public affairs Work acTOSS all four nations and enabling and supporting local campaigning. To ensure that Sand5 can effectively fai5e awarene55 aLK)Ut pregnancy loss and baby death, and about the work of Sands, the refreshed brènd will be launched. We want all those who need Sands feel welcomed. and for our person-centred approach to be evident in all our activity and engagement. 39 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report To save babies, lives and ensure inequalities in pregnancy loss and baby death are reduced In order lo save more babies. lives Sands will need to continue to build a belter understanding of why some babies die. We will establish a research network and associated resources lo bring logÈlhÈr the elements needed lo create this understanding, and we will develop the Sands Insights Group further lo support this work. To support research findings into policy and practice we will continue to campaign to save babies lives and redLJce inequalilie5. focu5irYJ on resolving the crisi5 in perinatal paihology and on the issues raised by the Listening Project. Training and resources lo will be developed for healthcare profe55iona15 to further disseminate research and project findings. and lo enable safer care lo be given in the perinatal peri(xJ. The work of the Sands and Tommy's Joint Policy Unil will continue to focus on saving babies, lives and reducing inequalities and will be male more easily accessible through a new microsite. To ensure everyone has equal access to excellent bereavement care and support after pregnancy loss and baby death In order lo ensure that everyone can access the supwrt that they need, Sands will continue to build ils channels of SUPPK)rt including scopirKJ ihe possibility of developing a counselling tier within our Bereavement Support Senrices ieam. Support m3ierials will be refreshed and updated, and outreach work will continue with underrepresented/inlersectional groups. We will diversify our online suppon and create new resources to suptK>rt wellbeing. Bereaved parents arKJ families deserved excellent care from rK)t only the healthcare professionals, but also from their employers and other professionals they come into contact with. We will continue to embed the National Bereavement Care Paihway across England and Scotland, developing t(K)Iktt5 and work5hop5 to provide the 5UPPOrt that Is needed. In Wales and Northern Ireland we will deliver the planned projects lo roll-out the National Bereavement Care Pathway in these nalions. The Department of Health and S(Kial Care-funded Bereavement in the Workplace project will complete ils final year, and succession plans will be finalised lo ensure that work in this area can conlinue_ Training for healthcare professionals. counsellors, and volunteers will be delivered, supported by e-learning, workshops. webinars and talks. Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Trustees, Report To grow and develop sustainably to have impact now and in the future Sands, growth must be sustained into the future with Sands. values and unique culture at its heart. As It grows, Sands must be known for the Impact it makes, for its Integrity, and for its willingness lo learn and continually improve. The focus will be on devek)ping diverse, long-term. sustainable and predictable income streams which will enable Sands to make more of a difference but also lo build the infrastructure needed 10 5UPPQrt effective and supportive working. There wll be continued focus on developing the Equity, Equality, Diversity and Inclusion principles into a full strategy. and on developing a Sustainability strategy which will truly reflect Sands, commitment to this important area. Sands is incredibw lucky to have wonderfully ccmmitted and passionate supporters and volunteers, and committed and passionate staff - ensuring that everyone is connected, informed and suprK)rted with the right resources and infraslruclure will enable LJS lo make more of a difference together. 41 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society (A Company limited by Guarantee) Sands Trustees, Report Disclosure of information to the auditor Each Trustee has confirmed thai ihere is no information of which they are aware which is relevant lo the èudit, bul of which the auditor is unaware. They have further cornfirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such inlormalion. Auditor The auditors, MHA have indicaied their wllir%Jness to continue in office. A resolution to reappoint MHA as independent auditor will be proposed at the next Trustees, Meeting, Small Company Exemptions The directors have taken Jdvantage of the small company exemptions under the Comp3nie5 Act 2006 (Strategic Rewrt and Directors Report) Regulations 2013 not lo prepare a strategic report for the financial year. Mr Neil Ferris Neil Ferris Treasurer Board of Trustees Dale. 5, December 2024 42 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited ty Guarantee) Sands Statement of Trustees, Responsibilities for the Year Ending 31 March 2024 The Trustees, who are also directors of the stillbirth & Neonètal Death Society for the purpose of company law, are restx)nsible for preparing the Trustees. Report and Financial statements in accordance with applicable laws and United Kingdom Accounting Standards (UK GAAPI, including FRS102 'The Financiol Reporting Standard applicable in the UK and Republic of Ireland.. Company law requires the Trustees to prepare financial statements for each financial year which give a true and lair view of the slate of affairs of the charity and ol the incorning resources and applicaiion ol resources, including the income and expenditure, of the charitable company for that year. In preparing these financial stslements, the Trustees are required to.. select suitable accountirKJ policies and use them consislenily, observe the methods and principles in the Charities SORP, make judgments and eslimales that are reasonab￿ and prudent, slate wheiher applicable UK accounting stsndards have been follovth, subject lo any material departures disclosed and expliined In the financial slalements prepare the financial statements on a going concern basis. unless il is inappropriaie to presume that the charity will continue ils operation. The Trustees are responsible lor keeping adequate and proper accounting records that disclose with reasonable accuracy al any time the financial position of the charity and to enable them lo ensure that the Financial statements comply with the Companies Aci 2(X)6, the Charities and Trustee Investment (Scoilandl Act 21J)5 and the Charities Accounts (Scoilandl Regulations 2006 185 amended). They are also responsible for safeguarding the assets of the charity and hence for takir)g 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 charitable company s website. Legislation in the United Kingdom governing the preparation and dissemination of Financial statements may differ from legislation in other Jurisdictions. 43 Saving babies, lives. Supporting bereaved families Independent Auditor's Report To the Members of the Stillbirth and Neonatal Death Society Sands Opinion We have audited the financial statements of Stillbirth and Neonatal Death Society Isandsl (the 'charitable company) for the year ended 31 March 2024 which comprise the Statement of Financial Activities. the Balance Sheet, the Siatement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, includiry Financial ReportirKJ Standard 102 The Financial Reporting Standord applicable in the UK ond Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the fi'nancial stalements.. give a true and fair view of the stale of the charitable company's affairs 3$ ai 31 March 2024, nd ol its incoming resources and application of resources, including its income and expenditure, for the year then ended,. have been proper￿ prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Act 2th)6 and the Charities Trustee Investment (Scoilandl Act 2(X)S and regulations 6 and 8 of the Charities Accounts (Scotlandl Regularions 20(￿. Basis for opinion We conducted our audit in accordance wrth International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibililies under those standards are further described in the Auditor's Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordaTKe wih the ethical requirernents that are relevant to our audit of the hnancial statements in the UK, including the FRC'S Ethical Standard, and we have lulh'lled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basls for our opinion. Conclusions relating to going concem In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions thaL individually or collectively, may cast significant doubt on the 44 Saving babies, lives. Supporting bereaved families Independent Auditor's Report To the Members of the Stillbirth and Neonatal Death Society Sands charitable company's abilty to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees wth respect to going concern are described in the relevanl sections of this reporL Other information The other inforrnalion comprise5 the inlormation included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements doe5 not cover the other information and. except lo the exlenl otherwise explicitly staled in our reporL we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and. in doing so, consider whether ihe other information is materially inconsistent wilh the financial statements, or our knowledge obtained in the course of the audit, or otherwise appears 10 be materially missiaied. If we identify such material inconsistencies or apparent material missiatements, we are required to determine whether this gives rise to a material misstaiemeni in the financial statements Ihemselves.11, based on the work we have performed. we conclude Ihat ihere is a material misstaiement of this other information, we are required 10 report thai faci. We have nothing to report in this regard Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information gwen in the Trustees. report (incorporaliry the Directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the Trustees, report has been prepared in aCcOrda￿e with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and unijerslanijing of the charitable company and its environment obtained in the course of the audit. we have not identified material misstalemen15 In the Tru5tees' report. We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 or the Charities Accounts (Scoilandl Regulations 21X)6 requires us to report to you Il, in our opinior).. adeqLJate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us.. or 45 Saving babies, lives. Supporting bereaved families Independent Auditor's Report To the Members of the Stillbirth and Neonatal Death Society Sands the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of Directors, remuneration SFEcified by law are not made., or we have nol received all the inlormation and explanations we require for our audit,. or the Trustees were not entitled to prepare the financial Statements in accordance with the small companies, regime and take advantage of the small companies, exemptions in preparing the Director5, rewrt and from the requirement to prepare a strategic report. Responsibilities of Trustees As explained more fully in the Trustees. resrK>nsibilities siaiemerni included in the Annual Report, the Trustees Iwho are also the Directors of the charitable company for the purposes ol company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the Trustees determine is necessary lo enable the preparation of financial ststements that are free from material misslalemenl, whether due to fraud or error. In preparing the financial slalements. the Trusiees are fesFJ)nsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of ￿cOUntIn9 unless the Trustees either intend lo liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor U￿er sectK)n 4411llcl of the Charities and Trustee Investment (Scotlandl Act 2005 and under the Companies Act 2(X)6 and report in accordance with regulations made under those Acts. Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due to fraud or error. and lo issue an auditor's report that Includes our opinion. Reasonable assurance is a high level ol assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, irldividually or in the aggregale. they could reasonably be expected to influence the economic decisions of users taken on the basis of Ihese financial statements. Irregularities, includiru fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delecl material misstatements in respect of irregularities. including fraud. The Sp￿1[1( proc&Jures for this 46 Saving babies, lives. Supporting bereaved families Independent Auditor's Report To the Members of the Stillbirth and Neonatal Death Society Sands engagement and the extent to which these are capable of dete(tin9 irregularities, including fraud is detailed below.. Obtaining an underslanding of the legal and regulatory frameworks that the entity operates In, focusing on those laws and regulations that had a direct effect on the financial stalemenls,. Enquiry of management and those charged with governance to identify any instances of known or suspected instances ol fraud.. Enquiry of rnanagemenl and those charged with governance around actual and potential litigation and claim5.' Enquiry ol mar)agement about any instances of non-compliance with laws and regulations,. Reviewing legal and professional expense acc¢Junts lo identify any possible instances of undisclosed claim5 or liligalion.. Reviewing the control systems in place arKI testing the effectiveness of the controls,. Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness," Reviewing minutes of meeiings of Ihose charged with governance,. Reviewing financial statement disclosures and iesiing 10 suptx)rting documentation to assess compliance with applicable laws and regulations. Because of the inherent limitations of an audit, there is a risk thai we ¥MII not detect all irregularilies, including those leadirng to a materi31 misslalemenl in the financial slalemenls Of non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial slalements, as we will be less likely lo become aware ol instances of rTr)n-compliance. The risk is also greaier re9arding ifregularilies occurring due lo fraud rather than error, as fraud involves intentional concealment. forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. fr This description forms part of our Auditor's Report. Use of this reF)Ort This report Is made solely lo the charitable companls members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2(K)6 and to the charitable company s trustees, as a body. in accordance with Regulation 10 of the Charities Accounls IScoil8ndl Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required io state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company s members as a body, for our audit work, for this report, or for the opinions we have formed. 47 Saving babies, lives. Supporting bereaved families Independent Auditor's Report To the Members of the Stillbirth and Neonatal Death Society Sands Stuart McKay Bsc FCA DChA (Senior Statsjtory Auditor) for and on behalf of MHA Statutory Auditor London, United Kingdom Date 1911212024 MHA is the trading name ol Maclntyre Hudson LLP, a limited liability partnership in England and Wales Iregislered number OC3123131 48 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee} Statement of Financial Activities Including Income & Expenditure Account For the year ended 31 March 2024 Un￿tr*I¢d Re$trl¢ted Funds Funds Tclal 2024 Total 2023 Income Donatiors kgacies Other trwjiffj activities Ir￿oMe from inveslmerts 2,530,670 4.302.235 179,073 2,709,743 4.302.235 2,975,351 4,050.157 6,832.￿5 179.073 7,011,977 7,025.508 Irwme from Charitsb￿ activities 118675 Total Ineom• and •ndowm•nts 6,951.5eo 404,666 7.3%,246 7,512,953 Expondhur• EXpend￿ul• on: Rèisiw ff￿d$ 3.585.845 3 159.948 charliab￿ Ac1fvk￿S Research & p￿ventIOn Be￿8v￿￿ent Care Hosritsl Liaison TrainirvJ EdurAlion Joint policy Unit GroLPS arf volunteers Be￿8ven￿nI support Policy & Camp8191 SSS,124 271.560 450.918 283.713 928.983 1,271.357 243,125 85,170 119,165 293,251 640,294 390,725 744,169 283.713 934.075 1,279.209 243,125 43e,848 321.511 564.454 206.982 812.694 1,090.548 2[￿,855 S.092 7.8S2 Total ¢harttabl• exp•ndliur• 4.004.780 510.530 4.515310 3 639 892 Total expendhur• 7,￿,625 510,530 8,101,155 6,799,839 Net galns on kn¥estments 134.683 134,683 25.995 Nel lexpendlturey kn¢¢y {SM.3621 1105.8641 1610,2261 739,109 Transfers bet%%ten fur￿$ N•t mo¥omont in funds {504,3621 1105,8641 1610,2261 739,109 Fund balance at 1 Aprfl 2023 6 674 239 305.￿0 6980 199 Funds balance at 31 March 2024 6,169,877 21K).096 6,369,973 6,980,199 49 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant&) Statement of Financial Activities Including Income & Expenditure Account For the year ended 31 March 2024 The Stillbirth and Neonatal Death Society is a company registered in England & Wales (registration number 2212082). The statement of fir)ancial activities also complies Wlth the requirements for an income and expenditure account under the Companies Act 2006. AII income and expenditure derive from continuing operations. 50 Saving babies. lives. Supporting bereaved familie5 Stillbirth and Neonatal Death Society IA Company limited by Guarantee} Statement of Financial Activtties Including Income & Expenditure Account For the year ended 31 March 2024 Prior Year comparison Unreslrlcted Restrlcted Total Funds Funds 2023 Income from Donations and legacies Other trading actwrties 2,864.647 4,050.158 110,704 2.975.351 4.050.158 6.914.805 110.704 7,025,51YJ Income from charltable actiwties 71,010 416,435 487A45 Total Income and endowments 6.985.815 527.139 7.512.954 Expendlture on: Ra151ng funds 3,159,948 3.159.946 Charltatsle actlvltles Research & prevention Bereavemeni Care & Hospiial Llaison Training & education Joint Policy Unit Groups and volunteers Bereavemeni support Pollcy and campalgns 436.848 321.511 564A54 206.982 812.694 1.090.548 206,855 243.977 390,187 163.130 812.694 982.489 206.855 77.534 174,267 43,852 108.059 3.236,180 403,712 3.639.892 Total expendlture 6.396.128 403.712 6.799.840 Net gains on investments 25.99S Net incomel expenditure 615,682 123,427 739.109 Fund balance at l Aprll 2022 6.058.557 182.533 6.241.090 Fund balance at l April 2023 6.674.239 305.960 6,980,199 51 Samng babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited ty Guarantee) Sands Balance sheet As at 31 March 2024 Company Registration 2212082 2024 2023 Notes Fixed P8sets Tangible Assets Investments 13 14 50,628 62.831 1.025,995 1,088,826 1,211,276 Current P4s8t• Stock Debtors Cash In Bank 20.602 758.803 5.220.605 124,204 575,313 5,507,742 16 6,000,010 6,207,259 Credltors falllng due wlthln one yvar 17 853.779 315.885 Not Curront A88ets 5.146.231 5.891.374 Total Assets less current Llabllltles 6,357,507 6,980,200 Incorr￿ Fund¥ Unrestricled gener81 funds Designated funds Total unrestricted funds Restricted funds 5.954.263 203. 148 6,157,411 6.459.197 215,042 6,674,239 305.960 19 21 18 6 357 507 6980 199 The notes form part of these financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and were approved by the Board on 5 December 2024 Treasurer of the Board of Trustees 52 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee) Sands Statement of Cash Flows For the year ending 31 March 2024 Notes 21 2024 2023 Cash Ilows from operabro aclmties: Net cash used in or*raling activities 261.397 991.950 Cash Ilows from inv8sling activit￿$.. Purchase of fixed assets Purchas8 of invesmlenls Nel cash provided by (used in) irwesb'ng aclmties 126.3CKIl 120,1921 1,000,000 1,020,192 26.300 Change in cash and cash equival￿1$ in lh8 repcrting period 287.137 28,242 Cash and cash equivalents at the beginniw of the rep(xting period 5.507.742 5.535.984 Cash and cash wJuiv8lenls at the end of th8 rep(xting poriod 5.220.605 5,507.742 It is nor considered necessary to provide Gn onoljsis of net debt. 53 Saving babies, lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 1. Legal status of the Charity The Stillbirth and Neornatal t)eath Society is a company limited by guarantee incorporated on 20 January 1988. Ils registered offices are 10 -18 Union Street, London, SE11SZ. The Charity is constituted as a company limited by guarantee and has no share capital and is registered in England & Wales. The liability ol eèch member in the event of winding up is limited to £1. 2. Accounting Policies Restatement of comparatwes The analysis of charitable expenditure ha5 been further clarified in the year adding new heading5 of bereavement care and hospital liai50n and also splitting out the costs of the joint policy unit. Overall costs remain as staled previousty. Basis of Preparation The financial slalements have been prepared in accordance with the charity's Memorandum and Articles ol Associaiion, the Charities SORP. the Companies Aci 2(M)6, Ihe Charities and Trustee Investment (Scoilandl Act 2(K)5, the Charities Accounts (Scoilandl Regulaiions 21X)6 las amended) and "Accouniing and Reporting by Charities". Sialemenl of Recommended Praciice applicable to charities preparing their accounts in accordance wr(h the Financial Reporting Standard applicable in the UK and Republic of Ire18nd IFRS 1021 (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. onetary amounts in these financial statements are rounded to the nearest £. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy. Preparation of the FinaT￿la1 statements on a going concem basis Due to the excellent set of results, the Board 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 financial statements 54 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 Income Income is recognised when the Charity has entitlemenl to the funds, any conditions attached to the income have been met, it is probèble that the income will be received, and the amount can be meèsurèd reliably. Income received in advance of ihe provision of a specified service Is deferred unril the criteria for income rècognition are mei. Grants income is credited to incoming re50urce5 on the earlier dale of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred. Government gran15 are recognised al the fair value of the granl received or receivable when there 15 reasonable assurance that the grant conditions will be mel, and the grants will be received. The income is recognised in other income on a systematic basis over the ￿riodS in which the associated costs are incurred, using the accrual m(MJel. 2.5 Fund accounting Restricted funds arise from donations which the donor has specified are lo be solely used for particular areas of the Charity's work or for specific projects being undertaken by the Charity. Desigrnaied funds are funds which have been designated by Sands lor a particular purpose and show the split of funds held centrally and by Groups, nei of transfers. Unresiricied furKls are available 10 spend on activities that further any of the purposes of the Charity. Crf(ical accounting estimates Estimates and judgements are continualty evaluated and are based on historical experience and other factors, including expectslions of future events that are believed to be reasonable under thè circumstances. There are no critical accounting estimates for the period under review. Gifts in Kind Good5 and Services donated to the charity with an estimated value of at least £5,000 are recognised as Other Income and as expenditure in the Stalemenl of Financial Activities under the most appropriate heading for the expense. 55 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 Expenditure Fundraising and publicity costs comprise the costs incurred in pr(xJucing materials for promotional purposes and In raising funds. Governance costs are those which do not directly relate to charitable activities arid include the costs of audit and statutory cornpli3nce. Where costs cannot be directly attributed, they are reallocated amongsr charitable acimlies on a ulilisalion basis, assessed by percentage of staff numbers. Incorne and expenditure are staled net ol VAT. The charity has a partial exemprion for VAT and is not able to reclaim VAT on all its indirect charitable costs. Irrecoverable VAT is written off against the activity low which the expenditure relates. Research Grants are recognised and recorded in the financial statements al full cosL al lime Ihe funds are committed by the Board of Trustees. In exceptional circumstances, where the grant funding schedule is conlingenl upon specific targets or deliverables being achieved, Sand5 may recognise only those commitments which are guaranteed at the year-eThJ under the terms of the grani agreement. Intangible and tangible fixed assets aThJ depreciation Intangible and tangible fixed assets are staled at cost less depreciation. Depreciation is provided al rates calculated lo write off the cost less estimated residual values of each asset over its expected useful life as follows.. All other assets (Tangible) 25% reducing balance Assets purchased, individually. under £l.(NJO are not capitalised. expensed in the year of purchase. 2.10 Investments Fixed asset investments are a form of financial instrument and are initially recognised al their transaction cost and subsequently measured at fair value unle55 the value cannot be measured reliably in which case It Is measured al cost less Impairment. For listed investments. fair value is measured using the quoted market price. Investment gains and105se5, whether realised or unreali5ed, are combined and presented as 'GainsllLossesl on investments, In the Statement of Financial Aclivilies. 56 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 2.11 Stock Stocks held relate to bereavement support materials, memory boxes, items for resale and fvndraising materials. Stock is valLJed at the lower of cosi JrKI net reali$2b￿ value. 2.12 Leasing & hire purchase Rentals payable under operating leases are chargd against income on a straighi-line basis over the period ol the lease. 2.13 Pensions The charity makes payments on behalf of ils employees to the Sands siakeholder pension scheme. The pension costs charged In the financial statements represent the contributions payable by the charity during the year and are unresiricied. Pension Auto Enrolmeni commenced on 1 January 2016. 2.13 Termination payments Termination benefits, including redundaT)Cy Costs, are recognised when the charity has an obligation lo pay the benefits, and they can be measured reliably. 2.14 Debtors Debtors are recogni5ed ai the settlement amount due after any trade discount offered and provision for bad and doubtful debis. 2.15 Cash at bank and in hand Cash at bank and cash in hand include5 Cash and short term highly liquid investments with a short m3turily of three months or less Irorn the date of acquisition or opening of the deposit or similar account. Cash and cash equivalents include cash in hand and deposits held at call with bank. 57 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 2.16 Creditors and provisions Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably resLJIt in the transfer of funds to a third paty and the amount due lo settle the obligation can be measLJred or estimated reliably. Creditors and provisions are normally recognised al their settlement amount after allowing for any trade discounts due. 2.17 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. The Charity only has financial assets and financial Iiabililies of a kind that qualify as basic financial instruments. Basic financial instruments are initially rec(yJnised at transartion value and subsequently measured al their settlement value. 58 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 3. Donations and legacies R•8ttstsd fundB Totsl 2024 Total 2023 nd8 Donalior6 & Gifts Legacies Gllt Ald Grants Rewved Membersfip 1.593.360 115.220 599.911 212.￿3 9.676 2.530.670 1.593.360 115.220 599,911 391,576 1,794,748 283.206 595,676 293,117 179,073 179.073 2.709.743 2.975.351 UrKe5triclad fur•Js Restrict• Total 2023 Donaiior6 & Glft$ Lega¢le$ 1,794.748 283. 595.676 226.265 1,794,748 283,206 595.676 293.117 Grants ReC￿Ved Memberstrip e6.852 2.9)8.499 66.852 2 975.351 Included within Grants received Is £69,62812023'. £50.4141 which is a SO% payment of the costs of the loinl Policy Unit run with Tommy's where Sands has incurred the total costs- see note 24. 59 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 4. Other trading activities Uryestrthd fvnds RestrKtsd nds Totsl 2024 Total 2023 Affinity FuNlraisiry R￿n1r0 Everts chaI￿r0e Events Other F￿ra181r& Everts Mercharnllse sa￿ (Exte￿1) 436,722 2.929.879 436,722 2,929,879 882.948 52,886 4,302,235 422,162 2,699,743 850.794 77,458 4,050,157 52.686 4.302.235 Uffesthcted fLJxIs Restr"ded f￿￿￿$ Total 2023 Affinity Fundraisirg Everts c1kgl￿rye Events ot￿r F￿￿raISi￿ Everts MerchaTrJise Sa￿s IExterrAII 422.162 2.699.743 8￿.794 77.458 4.050.157 422,162 2,699,743 850,794 77,458 4,050,157 60 Samng babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 S. Income from Charitable Activities Urnestri¢iwJ Restrided lur*J$ Totsi 2024 Total 2023 TrainirvJ Otkw r8Lqled seNces Stallrtory Fl￿1r¥j Bar* lrtere5t 69.237 36.782 12.656 118.675 69,237 262.375 12.656 344.268 50,941 436.504 225.593 225.593 487,445 Urlestricled Iw¥Js Restricted luryjs Totsl 2023 Trainirva ot￿ r8Lqled seNces Statutory FL￿1ry So.￿$1 20.L 71.010 50,941 436.504 487.445 416.435 416.435 Income from Sialutory funding ioialling £262,37512023'. £436,504) are considered to be government grants. There are no unfulfilled conditions Of Other contingencies attached lo the government grants above. Additional financial assistance has been obtained via the ToMr￿S grant lo support the National aternily Consortium of £9.315 which is Sponsor￿ by Government funding. 61 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 6. Total resources expended T(4a12024 Totsl 2023 co4iolG•ngrathvJ Fth F￿raiSI[￿ ¢osL4 989.163 Chartt4bkn Resoèich & prbvtrt￿n B¢reÈverne￿ Ho$rAW b••oh TT8lnry EdW￿lKin Joini w11cy￿l Grow and $￿8v&￿rrt $wwrt Pol¢y & c￿￿81¢￿* Toi4 ch8r1t8D￿ 317.813 167.847 331.706 178.172 295.657 W.916 123.678 198.W2 132.535 W.471 .401 W).294 390.725 744.169 283.713 934,075 1.279.2f 436.848 47.912 &140 310.214 212,267 5M.454 2￿.?B2 812.694 1,OW.S48 497.( 1.9$9.277 833.079 1.722.954 4.515.310 3,639.892 2 928 440 2.787086 2 385 629 8 101 IS5 6,793.840 ToLg12023 ¢￿1¢1¢•n•￿t￿Y IR•oto F￿￿r&i$l￿1 Co$ix 24 Ch•r￿kn AC1￿￿¥ RèsèBich & prOv4￿￿n eorO8Vèmè￿ Cai8 Ar￿ HooFi14 TrAifiw Édw81 Joith wli¢ythi Grow And e0fOavèm￿ 9LWDrt Polcy & C￿pa19r￿ TDld Ch&rItab￿ eyrlitL 364.811 141.( 243.026 136.PA)2 246.& 499.998 97.29) 1.63J.>)3 &195 49. 2&510 2.642 163.643 131.075 294.916 65.537 294.916 425. 438,848 321,511 $64,454 208,982 812,694 1.DY0,548 208,885 3.639,892 164.557 531.9 1.474.5 * Included in support costs are £1.332,96212023.' £1,155,643) of staff costs (see note 71 62 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 7. Analysis of Support costs Othv£oth TrA•l 2124 T¢ts12123 Comwl¢aibr¢ PR 570.sr4 202.611 773,182 701.628 124.072 23.201 YJl.194 23,201 109239 72.742 GDYWNr￿ costs" FI￿rre, HR & 577.Sl8 1.185.7e6 1.c￿.721 Tonwr8ty ¥LgMw&i$ 172286 172,286 108,561 1.458.229 27.4LK) 2.385.629 1.Y98.889 Priory•Br SWI DJ CthroJit• 2023 ComnM#l¢aibN PR 4eo.1Y 241.472 701.e26 103.n4 5.465 72.T42 109,239 72,742 GDverMrThi cos Flrnrt•, HR & rr 483.151 516.96 1.rth.721 T•nwr8ty Sw￿$t6 108.561 1.135.M3 836.647 1.998.889 See Note 8 63 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 8. Governance Costs 2024 2023 Governance costs comprise.. Legal & Professional Auditor's remuneration Consultancy Trustees, Expenses 35,363 29,086 8,058 235 23,001 2(M) Payments lo the auditor in respect of non-audit fees for governance related advice was nil12023.' £8,058). 9. Trustees None ol the Trustees received ary remuneration for their services as Trustees of the charity during the year. One Trustee was reimbursed expenses lor travel. subsistence and Iraining expenses £200 12023., £2351. Trustees, indemnity insurance is included in the wider insurance paid by the charity which cost the charity £6,81612023. £6,653). 64 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 10. Employees Sands is committed to providiry equality of opportunity in employment and to developing working practices and policies that SUPFX)rt work-life balènce and encourage flexible working. The average monthly number of total employees and full-time equivalent employees during the year wa5.. 2024 H••d¢ount 15 2024 FTE 12 2023 H•ad¢ount 13 2023 FTE 10 Ber$avèm8nt Sw)port SeNi¢es Groups Networks & VolLnleerirrfJ Bgreavèmenl ca￿ and Hospital Liaison Trairiro and edLralion Joint policy unit Rèsearch & prevènts'on Fundraisin9 Comrnunicalions Policy & Campaigns M8fk8gement & Admiiistratkjn 20 10 19 10 16 15 18 16 18 1S 98 86 73 2024 2023 EMplo￿nt Costs Wages & SaLary Temporary Stsff Costs Social SecLrity Costs Termin31ion Payments PerBion Costs 3,674,577 3,013,639 172,286 108,561 362,039 319,774 5,760 177768 132051 4 386 670 3 579 785 65 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 The number of employees whose annual emoluments were £60,0(K) or more were.. 2024 Number 2023 Number £60,001 £70,000 £70,001- £80,000 £80,001 £90,000 £90,001- £100,000 The aggregate pension contribution made by the chafity on behalf of higher paid staff was £20,582 12023.. £22,036) Six12023. Six) higher paid staff accfued benefits in defined contribulion pension schemes. Key management personnel are defined as the Iruslees and the five members of the Senior Leadership Group. The loial employee benefits of Ihe key management personnel ol the charity were £455,67712023. £461,949) During the year there were no payments of redundancy and rerminalion payments made by the charity 12023.. £5,760). There were no outslarding liabilities al the year-end. 11. Pension Scheme 2024 2023 Contributions paid to defined contribution scheme 177,768 132,051 12. Volunteers Volunteers play a key role in the achievement of the aims of Sand5. Further details on their role is further explained in note 3.5 of the Trustees, report_ 66 Samng babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 13. Fixed Assets (Tangible) IT equipmerrt Cost At 1 April 2023 Additior6 DiswsaL Al 31 March 2024 145,776 21,958 163,392 D•prè¢latlon al 1 April 2023 DSswsa Charge for ts year 8131 M8r¢h 2024 82,945 Net book value Al 31 March 2024 8131 March 2023 67 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 14. Investments At 31 Mèrch 2023 Gain on investments 1,025,995 134,683 At 31 March 2024 1.160,678 Investment is held In COIF Charities Ethical Investment Fund Accumulation Units managed by CCLA. The historical cost of the investments was £l,000,(X)O. 15. Stock 2024 2023 Publications, leaflets and fvndraising materials 20,602 124,203 68 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 16. Debtors 2024 2023 Trade Debtors Other Debtors Accrued Income Prepayments & Receivables 72.361 67, 548 21,549 337,241 148,975 223,981 462,461 758,803 575,313 17. Creditors Restricted Income received In year relating to charitable acLivity to be carried out in following year is deferred. 2024 2023 Trade Creditors Taxes & Social Security Costs Other Creditors Accruals Deferred Incorne 407,916 99,492 45,489 214,082 86.800 853,779 117,794 89,528 52,223 56,339 315,885 Ba￿￿e as at 1st Apnl 2023 ArnO￿ts Deferred Amounts Re￿aSed Ba￿￿e 31st March 2024 Deferred lrtome 86,800 86.8 86,800 69 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 18. Analysis of movements of Restricted Funds Sands Groups hold funds for a number of local projects. The most significant of these is funds held for the Baird Family Hospital1£92,103 at the year end and the prior year endl. An additional £31,113 of designated funds are also held for ihe Baird Family Hospital Project. Current Year Balan￿ •t 1•t mkng Outgokng 31•¢ 2023 Resources Rosources VArch 2024 DHSC- Bereavement in w0￿p￿¢8 Scottish P0￿r Fourdalion 881rieTrJers 88rkshire CommuThly Fourn1alion. vk)d( in 8erWire Scottish Govt.. NBCP Jthileras Research Toz8r5 North Devon Sar￿$ Scottish Gov8frrnent Various Propcls SIL•Jenl MidbMl8 TraiThro. Doris Fiekl Trt6t SUFC- 8ig Giv8 198,636 95,105 92.251 1.284 119.185 10.(hXI 2,854 1,284 119,165 10.C¥)O 1,000 Nèxt PklSirJamos R8e￿Itt Fou¥J81iO￿Ast0r Fow¥J81ion- $8viry Ba￿88 Lives1Sa￿I8 Ir6ight groy)nister•'ro prgigcl EG FOU￿latIOrl M6 Tol. Artj0ret￿ Gardon 16.500 3,352 5.011 3.352 11,489 Sea MeadowTnJst ILight Fwd- Siblr#J$ sU[￿rt ProJ￿t 88reav¥nvtt Supwrt. deswJna¢ed regi0rn8 ￿rO$S t UK Ardonagh Twl- Memory Boxes Saviry Ba￿'e$ lives- Alfirm Resewch SUFC Team Start- HSBC Slowarts Law ForKlatiofv SUFC The Big Giv8 Prot8ctir¥J FutW85.' Savirvj Bai¥8s Liv85 F￿r￿j 28,500 16, 15.5 1,000 12,(KK) 5,000 20,000 82.659 Ndson UThted Ref0M￿ A&)￿)re1 SLPPOrt The TBF a￿1 KL Tthjrnpson TnEt. B8reavemert SLpfKJrt Northem Irek Mayirnus FoLTKlation- ￿￿1 arKI East Yothslx'r8 Are Parent Review Films NBCP- Wdsh Materrrity NeI￿rk 18,957 12. 18,957 12.500 207.165 457.666 563.530 101,301 Satvjs group5 restnded furfs for propcts" 98,795 98,795 305.W) 457.666 200.096 70 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 Prior year Balance at 1 April 2022 Income Expenditure Balance at 31 March 2023 DHSC- bereovemertt in the workpl(Ke DHSC-jointly leading Maternity Con50rtium Mth rommys Scollish Government- core funding Welsh Governmeni- bereavement siippon proie(ts Scollish Gov( - National Berea￿Ement CGre Pothbyay Berkshire Communily Foundation - Work in Berkshire Sands Groups Projects Scottish Government- vorious projeas Scottish Govt Joinr Project Lothion Sands luditeras- Research workshops Tozers - Norrh Devon 5onds Doris Field Charitable Trust - Student midwifr training Stewarts Law Foundation- Sonds United Fooiboll Club Next plc - Sc7nds Insight gr()up/liSfening project Sir James Reckitt FoundatDn - Sands Insight group/ listening project Astor Foundation -Sonds Insighf group/liSfening projecr EG Foundation - Arboretum Garden M6 Toll Arboretum GL7rden Sea Meadow Trust - Siblings Support Project Light Fund Siblings Support Project The TBF and KL Thomp50n Trust - 8ereo%fment Support Northern Ireland Ardonagh Trust - Memory boxes Burnley and Nelson United Relorrned Church- Support in rhe Burnley and E175t LGncG5hire areo Maximus Foundation- Hull ond EGst YorkshffeAreo Sundry less than £l,O 168,631 43.852 1167,2671 143,8521 1,364 18,400 61,104 168,300 U8,4001 (79,1041 (77.5341 18,C(JO 28,399 1.284 98.795 4.500 10,555 10.(X 4.CK)O 119,165 1,284 98,795 4,500 110,5551 10,000 4,000 1.000 2,500 10,000 2,500 10,(K)O S,LVJO 1,500 5,000 1,500 2,352 1.(M)O 25,(M)O 5,(M)O 2.500 2,352 1,000 25,000 5,000 2,500 s,￿0 5.Q)O 5,000 5,000 1,(KJO 1,000 7.(X)O I7,0￿) Total funds 182.533 527.139 1403.7121 305,960 71 Samng babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarantee} Sands Notes to the Financial statements For the year ending 31 March 2024 19. Analysis of movements of Designated Funds Balance at 1 April 2023 Transfers Incoming resources Outgoing resources Balance at 31 March 2023 Fixed asset fund Group project commitments 62.831 152,211 112.2031 18431 50,628 152,520 3,152 12,0001 Total ￿ndS 215,042 113.0461 3.152 12,0001 203,148 Prior Year Balance at 1 April 2022 Transfers Incoming resources Outgoing resources alance at 31 March 2023 Fixed asset fund Group project commitments 70.787 184,481 17,9561 5,749 62,831 152,211 2,450 140,4691 Total funds 255,268 12.207) 2,450 140,4691 215,042 The purpose of the designation of ihe funds were as follows: Fixed asset fund - lo provide a reserve of monies to match the fixed assets held in order lo make clear the free funds held by the charity. Groups project commitments- to provide a reserve of monies to cover local Groups Projects which are planned to be completed as SCK)n as is praaicalw possible. 72 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 20. AnaI￿lS of Funds Unrestricted funds Designated funds Restricted funds Total funds Income funds of the charity.. Tangible Asset5 Investmenls Current Assets Creditors falling due within 1 year 50,628 50,628 1,160,648 6,000,010 1853,7791 1,160,648 5.647,394 1853.779) 152,520 200,096 5,954.264 203,148 200,096 6,357,507 Unrestricted funds Designated funds Reslricled fijnds Total funds Income funds of the charity.. Tangible Assets Investmenis Current Assets Creditors falling due within l year 62,831 62,831 1,025,995 6,207,258 1315,8851 1,025.995 5,749.087 1315.8851 1S2,211 305,960 6,459.197 215,042 305,960 6,980,199 21. Reconciliation of net movement in funds to net cash llow from operating actimts'es 2024 2023 Nel movement in funds Investment Igainsl Add back tangible asset depre(iation charge Decrea5e/ lincrea5el in slock Loss/lprofitl on disposals Increasel Idecreasel in debtors Increase in creditors 1610,2261 1134,6531 29,819 103,602 14,3421 1183,4901 537,895 1261.3971 739,109 125,9951 28,148 26,886 168,082 55,720 991,950 73 Saving babies. lives. Supporting bereaved families Stillbirth and Neonatal Death Society IA Company limited by Guarant￿} Sands Notes to the Financial Statements For the year ending 31 March 2024 22. Analysis of changes in net frjnds The charity had no debt during ihe year. 23. Operating Leases The charity signed a lease for premises al 10-18 Union Street on IS March 2022 for a period of 6 years. Lease payments charged lor the year £8,14612023.' £60181 The operating lease commitments were as follows.. Land and Buildings 2024 2023 other 2022 2023 Expiry dale.. Less than one year More than 1 and less than five years Over 5 years 7,510 7,510 30,040 30,040 37.550 37.SSO 24. Joint Venture In 2021 Tommy's and Sands agreed io fom a Joint Policy Unit tOg￿her to develop a tx>licy resource in the form of a policy unil in support of making the UK the safest place In the world lo have a baby. It was agreed thal this Unit would be a 50'.50 Joint Venture wth direct costs of running the Unit split equally between both parties. Sands costs towards thi5 unit amounted to £139,256 (2023." £100.828115ee note 61 and the charity received £69,62812023'. £50,4141 (see note 31 from Tommy's lo cover these costs. 25. Related Paty Transactions There were no related paty transaclions in the year. 74 Samng babies. lives. Supporting bereaved families