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2023-03-31-accounts

Directors’ Report and Financial Statements for the year ended 31 March 2023

Carers in Hertfordshire

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DIRECTORS’ REPORT
AND
FINANCIAL STATEMENTS
for the year ended 31 March 2023
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“I don’t have to search through
the internet; I just pick up the
phone to someone I trust”
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Charity Registration No. 1085491 Company Registration No. 4131036

THIS PAGE IS INTENTIONALLY BLANK

Carers in Hertfordshire CONTENTS

Page
Directors’ Report 3-20
Trustees’ Responsibilities in the Preparation of Financial Statements 21
Independent Auditor’s Report to the Members of Carers in Hertfordshire 22-26
Statement of Financial Activities 27
Balance Sheet 28
Statement of Cash Flows 29
Notes to the Financial Statements 30-42

Carers in Hertfordshire DIRECTORS’ REPORT

WHO WE ARE

Carers in Hertfordshire is the leading charity in Hertfordshire working with unpaid family carers who are supporting someone who could not manage without them. We support carers who are caring for a relative or friend who: has a physical or learning disability, dementia, mental health problems, misuse drugs or alcohol, is ill or frail. It doesn’t matter if that person lives in the same house or elsewhere, is an adult or a child.

WHY WE EXIST

Supporting others often means that carers put their own needs second. This can have serious consequences for carers. The charity regularly asks carers for their views and experiences, in our last survey carers told us about their experiences of caring.

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Carers in Hertfordshire DIRECTORS’ REPORT

WHAT WE ARE TRYING TO DO

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Carers in Hertfordshire DIRECTORS’ REPORT

The difference we make

3,634 carers were supported with carer focused advice and information through our specialist Information and Carer Planning Service. (5,249: 2021/22) Our Carers in Hertfordshire county-wide Dementia nursing service for carers worked with 1,074 carers during the year (2021/22: 1,307).

Our work last year

WHAT WE DO

We offer a range of services to meet the needs of Hertfordshire’s carers:

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Carers in Hertfordshire DIRECTORS’ REPORT

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Carers in Hertfordshire DIRECTORS’ REPORT

• Young Carers Service:

PROGRESS AGAINST GOALS WE SET LAST YEAR

The charity continued to implement our strategy, in order to make the biggest difference to improve carers’ lives. We set some specific goals last year.

Our goals How did we do?
Focus on ensuring
every carer counts		  •We have reviewed who uses our services and
which carers are slipping through the net.
•We have been undergoing staff and volunteer
training and sharing good practice to address
this.
•We are focused on ensuring our charity
continues to improve.
Continue to support
recovery following
the pandemic		  •We have been focusing on building confidence
to use services again by talking to carers about
how to safely meet and by making lots of
information available in appropriate formats
including online.

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Carers in Hertfordshire DIRECTORS’ REPORT
Our goals How did we do?
Finish the
governance review		  •The review was completed and an action plan
was drawn up to provide a focus for
improvements
Review systems
resilience		  •Having reviewed our systems we have put in
place a variety of measures including changing
some staff posts to enable the charity to look
forward from a position of resilience.

Key

PUBLIC BENEFIT

Family carers provide unpaid support to a friend or relative who could not manage their daily lives without assistance. It is estimated that there is a 1 in 3 chance of an adult becoming a carer in their lifetime (Carers UK). The impact of caring on individuals increases their risk of ill health and poverty. Analysis of the Census[1] indicates that in 2021 there were 92,781 carers in Hertfordshire.

Unpaid carers in England and Wales contribute a staggering £445 million to the economy every day – that’s £162 billion per year (Petrillo and Bennett, 2023). The value of unpaid care is equivalent to a second NHS in England and Wales, which in 2020/21 received an estimated £164 billion in funding (Petrillo and Bennett, 2023).

In line with Government National Carers’ Action Plan[2] , the charity recognises that early identification and effective support of carers is essential to enable carers to juggle paid work and caring responsibility and to prevent carer breakdown and inability to continue to care. The charity’s strategy aims to reach more carers earlier

1Census 2021, reported on www.ons.gov.uk

2https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/71 3781/carers-action-plan-2018-2020.pdf

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Carers in Hertfordshire DIRECTORS’ REPORT

in their caring role and ensure they have choice and control to access support in their caring role.

The charity’s primary aim is to support and improve the lives of carers. To do so efficiently and effectively, the charity must be able to evidence the difference it makes to carers’ lives and value for money. The charity uses an outcome monitoring tool developed with the Charities Evaluation Services (CES) to ensure services make a difference to carers’ lives and has adopted SROI methodology (initially developed in a study by Baker Tilly) to demonstrate the social return on investment in the charity’s work. The charity provides support services that enable carers to continue caring and making their contribution to the economy, without which statutory NHS and social services would flounder. By helping carers to maintain their own health and to access work, leisure and education, the charity helps to mitigate the risk of increased health and welfare costs to society. By supporting carers, we indirectly support the most vulnerable adults and children in society, i.e. those receiving care.

The calculations underpinning our assessment of our Social Return on Investment were made prior to the inclusion of care services into the work of the charity and the development of new services in the context of the charity’s growth over recent years. Expenditure and income associated particularly with care services is therefore not included in the reporting figures for this measure. The calculation changed this year to reflect the increase in the amount the charity receives in Restricted funding.

As a charity registered in England and Wales, the charitable company also reports in accordance with the Charity Commission for England and Wales’ guidance on public benefit and the Charities Act 2011.

ORGANISATIONAL DEVELOPMENT AND IMPROVEMENTS

The charity has continued to work in partnership with a number of organisations where this is in the interests of carers. This has included the provision of support for the Health Champions as well as the stronger business partnerships that result from our carers’ passport discount card. Evidence from the discount card scheme indicates this reaches new carers earlier in their caring role, thus increasing opportunity for the support services to prevent or defer crisis.

A Monitoring and Evaluation Framework is established bringing together the ways in which the charity considers the impact of its work and the measurement of that impact.

This is considered as a working document allowing the leadership team to reflect on where improvements can be made to the quality of monitoring and evaluation.

Following the inspection of our Care Services the Care Quality Commission (CQC) rated our service standards across the board in delivering regulated care as ‘good’.

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Carers in Hertfordshire DIRECTORS’ REPORT

Given the national picture of carers who move on from caring each year we are keen to avoid inertia by moving away from a focus on building numbers to focus on new registrations. We want to make sure our data about carers is as accurate and up to date as possible and we are therefore expecting to take carers off the database where there is no contact for an extended period and the carer doesn’t respond to requests to update information.

We organise regular staff training on data security and simple GDPR messages are now built into staff induction. This also helped to improve security and General Data Protection Regulation (GDPR) compliance.

WORKING WITH VOLUNTEERS

The charity has seen an increase in its support from volunteers who use their skills with the charity in a variety of ways. We have a growing team of volunteers helping us run services for carers as well as helping run the charity itself. A Volunteer Manager leads this work with volunteers. Our network of local hubs is led by trained volunteers with support from our Hub Volunteer Coordinators. We have 118 active volunteers.

SERVICE ACHIEVEMENTS

The charity measures the difference its services make in the lives of carers through the adoption of tools, including the national tool: Manual for Measures of Caring Activities and Outcomes (Joseph, S., Becker, F. and Becker, S.) to evaluate outcomes for young carers, and bespoke tools, designed by the Charities Evaluation Service, to measure outcomes for adult carers. These tools are supplemented by surveys, carer self-assessment and evaluation reports and the use of a validated health screening tool.

The services offered by the charity met the demand from increased take up by carers and outcome measures demonstrated that service provision made a positive difference to carers’ lives.

Support from our Information and Carer Planning Service was provided to 3,634 individuals whose support levels and health and wellbeing levels were improved. The training provided to 666 carers (2021/2: 489) increased carers’ knowledge, reduced isolation, helped carers attending be better able to cope and less stressed.

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Carers in Hertfordshire DIRECTORS’ REPORT

The charity gave more carers the opportunity to be involved and responded to increased numbers of consultations regarding service provision. Feedback received from carer representatives, carer trainers and those agencies commissioning services and training, demonstrated the powerful effect direct carer representation made. More carers were involved through the system of carer representation provided by the service.

The charity also provided support to young carers aged less than 18 years old, with the aim of reducing age-inappropriate caring and increasing community awareness of young carers. During the year the charity supported 1,161 young carers aged from 4 to 18 having identified an additional 312 in the year (2021/2: 497), some of whom turned 18 during the year. Young carers and their families who were offered information and support told us what they felt about the service they received.

Fundraising

The charity raises funds from a range of sources but takes very seriously its duty to protect the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches, and undue pressure to donate and does not undertake cold calling fundraising calls. Many of our supporters are current or former carers and we are aware that many carers’ personal finances are negatively impacted by their caring role.

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Carers in Hertfordshire DIRECTORS’ REPORT

We are therefore mindful about the frequency and tone of our fundraising asks. We want carers to consider us who can and want to donate, but not to make any carer feel undue pressure.

We also aim to provide a range of options to support us, some of which do not have a direct cost to the individual such as easyfundraising. The charity does not use commercial participators/ professional fundraisers but does work with commercial partners that facilitate donations such as easyfundraising. Trustees receive regular reports of fundraising progress.

The charity is voluntarily registered with the Fundraising Regulator and as such supports the Code of Fundraising.

FUTURE PLANS

The charity continued to implement its strategy this year. Our specific plans come together in an annual Operational Plan monitored through a range of key performance indicators.

During the course of the forthcoming year we will:

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Carers in Hertfordshire DIRECTORS’ REPORT

FINANCIAL REVIEW

In the year under review the charity received income of £2.914 million (2022: £3.210 million). Within this total, unrestricted income from donations was £25,684 (2022: £40,565) and restricted income from donations was £105,448 (2022: £45,526).

Total expenditure was £3.094 million (2022: £3.122 million). The net deficit for the year was £179,415 before unrealised investment gains, (2022: £88,411 surplus). This leaves total funds carried forward at the balance sheet date of £1.883 million (2022: £2.052 million).

The Board regularly consider the changing context within which the charity operates. COVID-19 continued to be challenging for the charity with fewer opportunities for community fundraising that led to a change of focus to raising funds from trusts and foundations. As face to face events restarted community fundraising is once again becoming an important part of our funding mix.

Reserves Policy

The Trustees have agreed a policy that the charity will maintain a Contingency Reserve equivalent to 6 months of ongoing unrestricted expenditure, in order to provide reassurance to current and prospective funders with respect to the ability of the organisation to continue to provide carer services. As at 31 March 2023 the balance on this reserve was increased to £975,721 representing 6 months of expenditure based on the 2023/24 financial budget (2022: £958,017).

The Organisation and Future Development Funds are designated by the Board for the purposes of identified business development initiatives. As at 31 March 2023 the balance on these Reserves totalled £58,806 (2022: £117,427) and the identified areas were specific work on areas including quality assurance, information management, business resilience and capacity building, to be able to provide services for the increasing number of carers identifying themselves to the charity.

The trustees are conscious of the need to make the best use of reserves and regularly review deposits to ensure the best rates of return. Over recent years there has been a focus on using some of these reserves to invest in business improvements that will have an impact over time. In order to retain adequate reserves these investments are focused on one-off improvements knowing that these resources do not present an ongoing revenue source.

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Carers in Hertfordshire DIRECTORS’ REPORT

Investment Powers and Policy

In accordance with the Memorandum and Articles of Association, the Board may invest any money that the charitable company does not immediately need, in any investments, securities or properties. The Board has approved an Investment Policy the objectives of which are, within agreed risk profiles, to maximise income received on bank deposits of short to medium term funds and to maximise total return on equity investments of long-term funds.

The Board determined that £200,000 of the charity’s cash deposits could be considered as long-term funds for the purposes of the policy and this amount has been invested in the Charity Equity Fund, a Common Investment Fund for charities managed by Schroder Unit Trusts Ltd.

The balance of the charity’s cash deposits was invested in several interest-bearing bank deposit accounts (ten as at the year-end), in line with the investment policy for short to medium term funds. The income gained from these investments has contributed to the accumulated surplus in reserves and thus to the financing of plans for strategic and organisational developments reported above. The charity did not find it necessary to use the Borrowings Policy during the year.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Carers in Hertfordshire is a company limited by guarantee governed by its Memorandum and Articles of Association. It is registered as a charity with the Charity Commission. The Board approved amended Articles of Association at its Extraordinary General Meeting in August 2021. This followed a process of review and approval by the Charity Commission. Changes included a broader outline of how the Charity supports carers and what constitutes an unpaid carer as well as moving to a membership that are the charity’s trustees. There are currently 9 Members who in the event of the company being wound up Members are required to contribute an amount not exceeding £1.

Recruitment and Appointment of Trustees

The Directors of the company are also charity Trustees for the purposes of charity law and under the company articles (amended 10 August 2021), are known collectively as the Board. Under the requirements of the Memorandum and Articles of Association, the members of the Board are elected to serve, after which one third shall retire each year but are eligible for re-election at the next Annual General Meeting. Those longest in office since election or co-option shall retire first.

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Carers in Hertfordshire DIRECTORS’ REPORT

In accordance with the nature of the charity’s work, the Board seeks to ensure that the needs and views of family carers are central to the working of the charity. Our Memorandum and Articles of Association require that at least 50% of members of the Board shall be carers. It is important to us that carers are at the heart of the leadership of our charity. At 31 March 2023, the carer composition of the Board was at a level of six out of nine trustees.

Trustee Induction and Training

The Board has implemented a robust recruitment and induction procedure, as agreed by Trustees. Investment is made in Trustee training, offered through a variety of training routes including in-house, use of an external facilitator and through the charity’s membership of umbrella voluntary sector organisations, locally and nationally.

Board members undertake an annual skills audit and in addition to Board meetings, attend two Directors’ days per year to review governance and strategic matters.

Organisational Structure

Carers in Hertfordshire is governed by a Board of not less than six and not more than eighteen members, which meets every two months and is responsible for the strategic direction and policy of the organisation. At 31 March 2023 the Board comprised nine members, including six carers, from a variety of backgrounds relevant to the work of the charity. The Company Secretary also sits on the Board but has no voting rights.

The charity operates through a structure of sub-committees (Resources; Strategy and Performance and Policy) that make recommendations to the Board for necessary decisions. In addition to more formal meetings, from time to time task and finish groups consider particular issues with necessary decisions made at subsequent a Board meeting. A Chief Executive Officer is appointed by the Board to manage the day to day operations of the charity.

Meetings

There is an annual cycle of Board meetings designed to lead strategic direction and policy of the charity and ensure business is conducted systematically, with provision for an annual review of Board and sub-committee performance.

The Board considers that it meets sufficiently regularly to discharge its duties effectively. In addition, Board members have taken the opportunity as part of induction or in the exercise of their duties, to occasionally attend meetings of sub-

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Carers in Hertfordshire DIRECTORS’ REPORT

committees of which they are not members, in order to keep an overview of the way the Board operates.

Additionally, the charity operates according to the Charity Governance Code. The Board uses the code as a tool for continuous improvement in addition to internal Board review processes. Every three years an external review is commissioned.

Pay Policy

The Resources Sub-Committee recommends the charity’s pay policy and recommends to the Board the annual pay increases. Pay is determined by reference to similar organisations where equivalent posts are considered and a salary structure allows progression through the charity. For the majority of staff there is an internal pay scale used; Care Support Workers are paid according to national guidelines and the Chief Executive’s pay is determined separately by recommendation from the Resources Sub-Committee to the Board. In considering the Chief Executive’s pay, the Board takes account of the performance in role, proportionality ratios, market comparison against similar posts and similar charities and of recruitment and retention. No employee is paid below a rate of £10.90 per hour as determined by the Living Wage Foundation.

To facilitate effective operations, the Chief Executive Officer has delegated authority within terms of delegation approved by the Board, for operational matters including finance, employment and service delivery. The management team has responsibility for day to day service management and staff management and training; ensuring staff continue to develop their skills and good working practices. A scheme of delegation is implemented and each manager has a corporate lead responsibility.

Related Parties

The charity is an associate member of Carers UK that provides access to a national network of other carers’ organisations; information and advice on national carers’ policy and strategy and good practice guidance around services for carers. In addition, the charity is a member of NCVO (National Council for Voluntary Organisations) and a Network Partner of the Carers Trust.

In so far as it is complementary to the charity’s objectives, the charity is guided by national and local government policy. At the national level, it is steered by the National Carers’ Action Plan and the relevant national strategies for a range of illnesses and disabilities. Members of the Board, the Chief Executive and managers are represented on key local partnerships to deliver the relevant strategies in Hertfordshire.

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Carers in Hertfordshire DIRECTORS’ REPORT

Risk Management

The Directors acknowledge their responsibility for the charity’s system of internal controls and for reviewing effectiveness. The system of internal controls is designed to manage rather than eliminate the risk of failure to achieve business objectives and

can only provide reasonable and not absolute assurance against material misstatement or loss.

The Board confirms that there is a policy and process for identifying, evaluating and managing the significant risks faced by the charity, in accordance with Charity Commission guidance (Charities and risk management CC 26.). The charity considers strategic risk regularly as part of the risk assessment process.

The key risks identified by the Board include
Risks What are we doing to mitigate these risks?
Loss and/or failure of
recruitment of key staff,
trustees or volunteers		 Succession plans are in place for the Chair and Vice
Chair of the Board, the Chief Executive and other
Management positions in the charity. The charity
also has a Business Continuity Plan which was
updated during the year, to be able to respond to
significant adverse incidents in a structured and
systematic way. Like much of the sector we are
finding staff recruitment a challenge but continue to
look creatively at ways of addressing this.
Management Failure The Board acknowledges its responsibility as an
employer and continuously reviews its specialist
support. Specific professional help is used to
ensure we manage our resources effectively.
Over dependence on
specific funding sources,
meaning that the charity
may not be able to continue
to operate should this
funding cease.		 We are working hard to diversify our sources of
funding and have invested in our fundraising team to
support this.
Our relationship with our funders is continuously
developing.
We have a prudent attitude to our reserves
articulated through our reserves Policy.

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Carers in Hertfordshire DIRECTORS’ REPORT
Risks What are we doing to mitigate these risks?
Developments in the care
services market threaten the
financial viability of
continuing to provide
domiciliary care		 The charity’s leadership have been reviewing of
Care Services activity. The market for Care Support
Workers remains challenging but some
improvements to our processes have increased the
speed of recruitment as well as retention.
In the forthcoming year Care Services will move to
new, more suitable offices.
Failure to meet specific
regulatory requirements
relating to the various
regulators of our work
including the provision of
care, fundraising, GDPR
leading to loss of licence to
operate, reputational risk
and loss of funding.		 We have a wide range of checks to ensure
compliance with regulations and have a Quality
Improvement Group who continuously looks at ways
in which our standards can improve.

Appointment of Auditors

During the year under review Sayer Vincent LLP was appointed as auditor to the charity.

These financial statements have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

Reference and Administration Information

Charity name: Carers in Hertfordshire Charity registration number: 1085491 Company registration number: 4131036 Registered office and operational address: The Red House 119 Fore Street Hertford SG14 1AX

Borehamwood Office: Warwick House, 2 Oaks Court Warwick Road Borehamwood, WD6 1GS

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Carers in Hertfordshire DIRECTORS’ REPORT

Directors and Trustees

The Directors of the charitable company (the charity) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. Trustees who served during the year were:

Mark Montgomery Chair Kevin McLennan Treasurer and Co-Vice Chair Allison Alexander Co-Vice Chair Miroslava Budin Caroline Hedley Jill Glover (resigned 10.08.23) Martin Nottage Tony Seagroatt Jackie Wilks

(* denotes Trustees who are Carers, so 66.6% are carers as at 31.03.23)

Company Secretary

Roma Mills (resigned: 28.06.22) Michele Stokes (appointed: 28.06.22)

Management Team

Senior Managers

Michele Stokes Chief Executive Officer Andy Clapham Head of Central Services and Finance (from 28.11.22) Carole Whittle Health and Wellbeing Manager Roma Mills Policy and Engagement Manager Tim Napper Finance and Support Services Manager (resigned: 30.06.22)

Team Managers

Alex Daar Volunteer Manager Christine Gillham Information and Carer Planning Support Service Manager Gemma Roake Young Carers Services Manager Hazel Howell Fundraising Manager (Appointed 11.01.2023) Kimcha Rajkumar Equalities, Diversity and Inclusion Manager (30.05.22-30.05.23) Linda Anderson HR Adviser Louise Hosmer Care Services Registered Manager (Appointed 01.08.2023) Steve Probyn Carer Engagement Manager (Appointed 05.09.2023)

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Carers in Hertfordshire DIRECTORS’ REPORT

Consultants

Ian Parker Finance Consultants Jo Watkin

Auditor

Bankers

Sayer Vincent LLP Invicta House 108-114 Golden Lane London EC1Y 0TL

Virgin Money plc Jubilee House Gosforth Newcastle Upon Tyne NE3 4PL

National Westminster Bank 80 Shenley Road Borehamwood Hertfordshire WD6 1DZ

Solicitors

Taylor Walton Solicitors 28-44 Alma Street Luton LU1 2PL

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Carers in Hertfordshire TRUSTEES’ RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS

The Trustees (who are also directors of Carers in Hertfordshire for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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.

By order of the Board

Mark Montgomery, Chair Date: 17 October 2023

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Carers in Hertfordshire INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF CARERS IN HERTFORDSHIRE

Opinion

We have audited the financial statements of Carers in Hertfordshire (the ‘charitable company’) for the year ended 31 March 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities 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 accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled 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 basis for our opinion.

Conclusions relating to going concern

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 to events or conditions that, individually or collectively, may cast significant doubt on Carers in Hertfordshire's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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Carers in Hertfordshire INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF CARERS IN HERTFORDSHIRE

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Carers in Hertfordshire INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF CARERS IN HERTFORDSHIRE

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

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Carers in Hertfordshire INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF CARERS IN HERTFORDSHIRE

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or 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 statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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Carers in Hertfordshire INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF CARERS IN HERTFORDSHIRE

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to 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.

Judith Miller (Senior statutory auditor) Date: 14 December 2023 for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

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Carers In Hertfordshire

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 (incorporating an income and expenditure account)

Note
Income from:
2
3
4
11
9
Reconciliation of funds:
16
Total funds carried forward
Net income before other recognised gains
and losses
Net income being net movement in funds
Total funds brought forward
Unrealised gains on investments
5
Net income for the year
Total expenditure
Net income before net gains on
investments
Charitable activities
Investments
Total income
Expenditure on:
Donations and legacies
Charitable activities		 Unrestricted
£
25,684
2,084,155
25,638		 Restricted
£
105,448
673,359
-		 2023
Total
£
131,132
2,757,514
25,638
2,914,284
3,093,699
3,093,699
10,809
(168,606)
(168,606)
(168,606)
2,051,502
1,882,896
(179,415)		 Unrestricted
£
40,565
2,152,601
8,482		 Restricted
£
45,526
962,842
-		 2022
Total
£
86,091
3,115,443
8,482
2,135,477 778,807 2,201,648 1,008,368 3,210,016
2,213,803 879,896 2,146,130 975,475 3,121,605
2,213,803 879,896 2,146,130 975,475 3,121,605
10,809
(78,326)		 -
(101,089)		 34,964
55,518		 -
32,893		 34,964
88,411
(67,517) (101,089) 90,482 32,893 123,375
(67,517) (101,089) 90,482 32,893 123,375
(67,517)
1,685,883		 (101,089)
365,619		 90,482
1,595,401		 32,893
332,726		 123,375
1,928,127
1,618,366 264,530 1,685,883 365,619 2,051,502

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 16a to the financial statements.

27

Carers In Hertfordshire BALANCE SHEET AS AT 31 MARCH 2023

Company no. 4131036
2023 2022
Note £ £ £ £
Fixed assets:
Tangible assets 10 169 6,755
Investments 11 297,338 286,529
297,507 293,284
Current assets:
Debtors 12 221,293 251,050
Short term deposits 585,781 884,798
Cash at bank and in hand 936,406 820,908
1,743,480 1,956,756
Liabilities:
Creditors: amounts falling due within one year 13 (158,091) (198,538)
Net current assets 1,585,389 1,758,218
Total net assets 1,882,896 2,051,502
The funds of the charity: 16
Restricted income funds 264,530 365,619
Unrestricted income funds:
Designated funds 1,141,592 1,235,849
General funds 476,774 450,034
Total unrestricted funds 1,618,366 1,685,883
Total charity funds 1,882,896 2,051,502

Approved by the trustees on 17 October 2023 and signed on their behalf by

Mark Montgomery Chair

28

Carers In Hertfordshire STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Note
£
£
Cash flows from operating activities
Net income for the reporting period
(168,606)
(as per the statement of financial activities)
Depreciation charges
483
Loss on disposal of fixed assets
6,103
(Gains) on fixed asset investments
(10,809)
Dividends, interest and rent from investments
(25,638)
(Increase)/decrease in debtors
29,757
(Decrease)/Increase in creditors
(40,447)
Net cash provided by operating activities
(209,157)
25,638
-
Purchases of fixed asset investments
-
Investment in short-term cash deposits
-
Maturation of short term deposits
299,016
-
324,654
115,497
820,908
936,405
Analysis of cash and cash equivalents and of net debt
At 1 April 2022
£
Cash at bank and in hand
367,588
Notice deposits (less than 3 months)
453,320
a
Total cash and cash equivalents
820,908
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Net cash used in investing activities
Cash flows from investing activities:
Interest from investments
Disposal of investments
Purchases of equipment
2023		 Note
£
£
Cash flows from operating activities
Net income for the reporting period
(168,606)
(as per the statement of financial activities)
Depreciation charges
483
Loss on disposal of fixed assets
6,103
(Gains) on fixed asset investments
(10,809)
Dividends, interest and rent from investments
(25,638)
(Increase)/decrease in debtors
29,757
(Decrease)/Increase in creditors
(40,447)
Net cash provided by operating activities
(209,157)
25,638
-
Purchases of fixed asset investments
-
Investment in short-term cash deposits
-
Maturation of short term deposits
299,016
-
324,654
115,497
820,908
936,405
Analysis of cash and cash equivalents and of net debt
At 1 April 2022
£
Cash at bank and in hand
367,588
Notice deposits (less than 3 months)
453,320
a
Total cash and cash equivalents
820,908
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Net cash used in investing activities
Cash flows from investing activities:
Interest from investments
Disposal of investments
Purchases of equipment
2023		 Note
£
£
Cash flows from operating activities
Net income for the reporting period
(168,606)
(as per the statement of financial activities)
Depreciation charges
483
Loss on disposal of fixed assets
6,103
(Gains) on fixed asset investments
(10,809)
Dividends, interest and rent from investments
(25,638)
(Increase)/decrease in debtors
29,757
(Decrease)/Increase in creditors
(40,447)
Net cash provided by operating activities
(209,157)
25,638
-
Purchases of fixed asset investments
-
Investment in short-term cash deposits
-
Maturation of short term deposits
299,016
-
324,654
115,497
820,908
936,405
Analysis of cash and cash equivalents and of net debt
At 1 April 2022
£
Cash at bank and in hand
367,588
Notice deposits (less than 3 months)
453,320
a
Total cash and cash equivalents
820,908
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Net cash used in investing activities
Cash flows from investing activities:
Interest from investments
Disposal of investments
Purchases of equipment
2023		 £
£
123,375
2,304
(34,964)
(8,483)
40,406
52,519
175,157
8,482
-
(100,000)
(220,468)
(508)
(312,494)
(137,337)
958,245
820,908
Cash flows
At 31 March
2023
£
£
112,727
480,315
2,770
456,090
115,497
936,405
2022		 £
£
123,375
2,304
(34,964)
(8,483)
40,406
52,519
175,157
8,482
-
(100,000)
(220,468)
(508)
(312,494)
(137,337)
958,245
820,908
Cash flows
At 31 March
2023
£
£
112,727
480,315
2,770
456,090
115,497
936,405
2022
(209,157)
324,654		 175,157
(312,494)
Cash flows
£
112,727
2,770
115,497
820,908		 (137,337)
958,245
936,405 820,908
At 1 April 2022
£
367,588
453,320		 At 31 March
2023
£
480,315
456,090
820,908 115,497 936,405

29

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

a) Statutory information

Carers In Hertfordshire is a charitable company limited by guarantee and is incorporated in England and Wales.

The registered office address is The Red House, 119 Fore Street, Hertford, SG14 1AX.

b) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

No critical judgements or key sources of estimation uncertainty have been made by management in applying the charity's accounting policies.

e) Income

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

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

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

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

30

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (continued)

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) Investment income

All investment income is recognised on an accrual basis.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

i) Expenditure and irrecoverable VAT

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

Expenditure on charitable activities includes the costs of delivering services and other educational activities undertaken to further the purposes of the charity and their associated support costs

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

j) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity.

Support costs are the cost of overall direction and administration of each activity which comprise the salary and overhead costs of the central function.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

Both support and governance costs are apportioned on a headcount basis to each activity.

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

31

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (continued)

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

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

Office furniture and equipment

Straight line over 3 years

m) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing

quoted market price. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

n) Debtors

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

o) Short term deposits

Short term deposits includes cash balances that are invested in accounts with a maturity date of between 3 and 12 months.

p) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

q) Creditors and provisions

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

r) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

s) Pensions

The company operates a defined contribution scheme with Scottish Widows which is auto-enrolment compliant and is funded by contributions partly from employees and partly from the charity. The amount charged to the statement of financial activities in respect of pension costs in the contributions payable in the period.

32

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2 Income from donations and legacies

Income from donations and legacies cies
Unrestricted
£
25,684
25,684
Unrestricted
£
2,050,271
33,884
2,084,155
Total income from charitable
activities
Other income from charitable
activity
Income from charitable activities
Hertfordshire Health Authorities
and Hertfordshire Community
Services
Donations and fund raised income		 Unrestricted
£
25,684		 £
105,448
Restricted		 2023
Total
£
131,132		 Unrestricted
£
40,565		 al
£ £
45,526
45,526
al
£ £
455,769
507,073
962,842
Restricted
Restricted
25,684 105,448 131,132 40,565
£
673,359
-
Restricted		 2023
Total
£
2,723,630
33,884		 Unrestricted
£
2,084,333
68,268
2,084,155 673,359 2,757,514 2,152,601

3 Income from charitable activities

There are no unfilled conditions or contingencies attaching to this income.

33

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4a Analysis of expenditure (current year)

Direct costs
£
Carer advice and information services
2,110
Young carer advice services
19,831
Involvement services
7,908
Carer development and learning
9,069
Care services
4,480
Business development
116,940
160,338
Analysis of support costs:
Premises
Office costs
Professional fees,insurance and irrecoverable VAT
Depreciation
Loss on disposal of fixed assets
Management and management support
Administration support
Training and other employment related costs
Finance support
IT support
Governance costs
Anaylsis of governance costs:
Audit fees
Running costs		 Direct costs
£
2,110
19,831
7,908
9,069
4,480
116,940		 Staff costs
£
385,819
204,691
166,847
82,617
466,484
131,825		 Support
costs
£
185,985
100,146
114,452
42,920
57,226
114,453		 2023 Total
£
573,914
324,668
289,207
134,606
528,190
363,218		 2022 Total
£
598,600
314,939
295,216
134,266
533,323
269,787
160,338 1,438,283 615,182 2,213,803 2,146,130
2023
£
122,958
56,162
67,262
6,586
100,202
6,968
79,015
80,737
77,786
17,504		 2022
£
117,067
58,536
63,297
2,304
88,891
5,056
46,522
85,164
53,208
10,317
615,182 530,362
2023
£
13,880
3,624		 2022
£
10,200
117
17,504 10,317

34

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

4a Analysis of expenditure (prior year)

Direct costs
£
Staff costs (Note 6)
Young carer advice services
11,151
Involvement services
506
Carer development and learning
9,325
Care services
395
Business development
110,318
132,633
Analysis of support costs:
Premises
Office costs
Professional fees,insurance and irrecoverable VAT
Depreciation
Management and management support
Administration support
Training and other employment related costs
Finance support
IT support
Governance costs
Anaylsis of governance costs:
Audit fees
Running costs
AGM costs		 Direct costs
£
11,151
506
9,325
395
110,318		 Staff costs
£
205,116
208,372
87,939
483,592
60,797		 Support
£
98,672
86,338
37,002
49,336
98,672		 2022 Total
£
-
314,939
295,216
134,266
533,323
269,787
132,633 1,483,135 530,362 2,146,130
2022
£
117,067
58,536
63,297
2,304
88,891
5,056
46,522
85,164
53,208
10,317
530,362
2022
£
10,200
117
-
10,317

35

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5 Net income for the year

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2023 2022
£ £
Depreciation charge on owned assets 483 2,304
Operating lease rentals:
Plant and machinery 3,512 3,924
Land and buildings 107,605 106,484
Auditor's remuneration
Audit services 13,880 10,200

6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Salaries and wages
Pension costs
National insurance
Redundancy and termination costs		 2023
£
2,099,534
174,398
83,874
-		 2022
£
2,033,558
165,524
85,586
-
2,357,806 2,284,668

1 employee earned more than £60,000 during the year, in the bracket £70,001-£80,000 (2022: one employee in the bracket £60,001 - £70,000).

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £485,923 (2022: £474,353).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

There were no reimbursements of trustee expenditure in the year under review. (2022: travel and subsistence costs totalling £116 were reimbursed to one trustee for attendance at meetings of the trustees.

7 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 124 (2022: 115). The full-time equivalent number was 70 (2022: 50).

8 Related party transactions

There were no related party transactions in 2023 (2022: None).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

36

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9 Taxation

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

10 Tangible fixed assets

At the start of the year
Charge for the year
At the end of the year
Cost
At the start of the year
At the start of the year
All of the above assets are used for charitable purposes.
At the end of the year
Net book value
At the end of the year
Additions in year
Depreciation
Disposals in year
Disposals in year		 Office
furniture and
equipment
£
34,438
(23,175)		 Total
£
34,438
-
(23,175)
11,263 11,263
27,683
483
(17,072)		 27,683
483
(17,072)
11,094 11,094
169 169
6,755 6,755

11 Investments

Total
Additions
Market value brought forward
Unrealised gain/(loss) the year
Market value carried forward		 2023
£
286,529
-
10,809		 2022
£
151,565
100,000
34,964
297,338 286,529
297,338 286,529

Investments at market value comprises equities wholly invested with Schroder Unit Trusts Ltd (Charity Equity Fund Accumulation units). All investment assets were held in the UK.

37

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

12 Debtors

Debtors
Other creditors
Trade debtors
Other debtors
Prepayments
VAT
Taxation and social security
Creditors: amounts falling due within one year
Accruals
Trade creditors		 2023
£
111,737
34,617
5,159
69,780		 2022
£
138,706
47,928
4,138
60,278
221,293 251,050
2,023
£
36,081
42,299
44,266
35,445		 2022
£
11,272
44,626
45,739
96,901
158,091 198,538

13 Creditors: amounts falling due within one year

14 Pension scheme

The charity operates a defined contribution scheme with Scottish Widows. The assets of the scheme are held separately from those of the charity in an independently administered fund. The charity also operates an auto-enrolment scheme for certain employees with NEST. The pension cost charges represent contributions payable by the charity to the funds and amounted to £55,693 (2022: £66,426). Contributions totalling £12,063 (2022: £11,890) were payable to the funds at the balance sheet date and are included in creditors.

15a Analysis of net assets between funds (current year)

Analysis of net assets between funds (current year)
Net assets at 31 March 2023
Tangible fixed assets
Fixed asset investments
Net current assets		 General
unrestricted
£
169
297,338
179,267		 Designated
£
-
-
1,141,592		 Restricted
£
-
-
264,530		 Total funds
£
169
297,338
1,585,389
476,774 1,141,592 264,530 1,882,896

15b Analysis of net assets between funds (prior year)

Analysis of net assets between funds (prior year)
Net assets at 31 March 2022
Tangible fixed assets
Fixed asset investments
Net current assets		 General
unrestricted
£
6,755
286,529
156,750		 Designated
£
-
-
1,235,849		 Restricted
£
-
-
365,619		 Total funds
£
6,755
286,529
1,758,218
450,034 1,235,849 365,619 2,051,502

38

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16a Movements in funds (current year)

HCC Equalities
HUBS mentoring volunteering
Improving carer wellbeing
Lottery Caring Volunteers
Step by step project
HCC Infection control grant
Total restricted funds
Other projects
Contingency reserve
Total designated funds
General funds
Bereavement Group
Carers Trust schools
Children In Need
Hertswise
Other projects
Organisation and Future Development
Fund
Unrestricted funds:
Designated funds:
Restricted funds:
Thompson Family Trust
Community Navigator
Dementia Nurses
Borehamwood Seniors
CAHMS Course
Total unrestricted funds
Total funds		 At 1 April
2022
£
1,481
150
3,424
3,431
5,355
59,585
13,241
-
36,299
-
90,801
15,771
16,411
17,045
31,988
70,637		 Income & gains
£
-
5,000
3,400
-
33,923
160,393
309,471
136,500
34,338
23,000
-
-
-
39,782
33,000		 Expenditure
& losses
£
(1,481)
(5,000)
(4,508)
-
(39,278)
(167,011)
(322,712)
(99,497)
(43,918)
(45,557)
(15,771)
(16,411)
(13,843)
(56,120)
(48,789)		 Transfers
£
-
-
-
-
-
-
-		 At 31 March
2023
£
-
150
2,316
3,431
-
52,967
-
37,003
26,719
23,000
45,244
-
-
3,202
15,650
54,848
365,619 778,807 (879,896) - 264,530
117,427
160,405
958,017		 -
65,561
17,704		 58,806
107,065
975,721
1,235,849 3,300 (180,822) 83,265 1,141,592
450,034 2,142,986 (2,032,981) (83,265) 476,774
1,685,883 2,146,286 (2,213,803) - 1,618,366
2,051,502 2,925,093 (3,093,699) - 1,882,896

The narrative to explain the purpose of each fund is given at the foot of the note below.

39

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16b Movements in funds (prior year)

Carers Trust schools
Children In Need
Dementia Nurses
Hertswise
Improving carer wellbeing
Lottery Caring Volunteers
Step by step project
HCC Infection control grant
Total restricted funds
Contingency reserve
Total designated funds
General funds
Total unrestricted funds
Restricted funds:
Borehamwood Seniors
CAHMS Course
Community Navigator
Total funds
Unrestricted funds:
Other projects
Designated funds:
Organisation and Future Development
Fund
Bereavement Group
Other projects
Thompson Family Trust		 At 1 April
2021
£
4,253
150
3,069
3,431
2,618
42,846
61,425
19,292
28,314
7,032
35,387
-
37,287
87,622		 Income & gains
£
100
-
4,080
-
48,354
264,743
280,343
42,425
112,618
142,236
-
27,000
56,469
30,000		 Expenditure
& losses
£
(2,872)
-
(3,725)
-
(45,617)
(248,004)
(328,527)
(25,418)
(50,131)
(133,497)
(18,976)
(9,955)
(61,768)
(46,985)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 At 31 March
2022
£
1,481
150
3,424
3,431
5,355
59,585
13,241
36,299
90,801
15,771
16,411
17,045
31,988
70,637
332,726 1,008,368 (975,475) - 365,619
92,263
95,805
914,724		 86,006
74,774
43,293		 117,427
160,405
958,017
1,102,792 26,960 (97,976) 204,073 1,235,849
492,609 2,209,652 (2,048,154) (204,073) 450,034
1,595,401 2,236,612 (2,146,130) - 1,685,883
1,928,127 3,244,980 (3,121,605) - 2,051,502

The narrative to explain the purpose of each fund is given at the foot of the note below.

40

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16c Purposes of restricted funds:

Bereavement Group

Funding towards the cost of providing support to bereaved carers.

Borehamwood Seniors

This is funding for daytime activities at 'Borehamwood Seniors' group.

CAMHS course

This is funding to deliver a series of courses to parents of children or young people who are accessing Mental Health Services.

Community Navigators

This funding enabled us to employ a number of Community Navigators to assist in providing local solutions to improve access to community provision.

Carers Trust schools

Funding to provide a programme recruiting and training volunteer ambassadors to raise awareness of young carers in schools.

Improving carer wellbeing

A service that brokers support fo carers to access carer breaks.

Thompson Family Trust

This grant was to enable carers to access snow activities through Snowmobility.

Hertswise

This was funding as part of a consortium for community dementia support.

Dementia Nurses

This grant funding provides a whole county clinical services for carers of people with Dementia.

Children In Need

This grant was to fund Young Carer projects, including a conference, part of the work of the YC council and residentials.

Lottery Caring Volunteers

This grant from the the National Lottery Community Fund provides support for our volunteering programmes, including activities in carers' hubs throughout the county, our Mentoring scheme and local Ambassadors programme.

Step by step project

This project provides in-depth support to carers who face additional barriers to accessing support.

16d Purposes of designated funds:

Organisation and Future Development Fund

The Trustees have identified this funding to be available to enable it to move forward on developing the organisation's strategic objectives and implementing specifically identified development projects.

41

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17 Operating lease commitments payable as a lessee

At 31 March 2022, the company had commitments under non-cancellable operating leases as follows:

Less than one year
One to five years
Over five years		 2023
2022
£
£
62,955
92,703
27,344
90,299
-
-
90,299
183,002
Property		 2023
2022
£
£
62,955
92,703
27,344
90,299
-
-
90,299
183,002
Property		 2023
2022
£
£
1,214
9,979
-
496
-
-
1,214
10,475
Equipment		 2023
2022
£
£
1,214
9,979
-
496
-
-
1,214
10,475
Equipment
90,299 183,002 1,214 10,475

18 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1 and at the balance sheet date there were 9 members (2022: 9).

42