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2024-03-31-accounts

Directors’ Report and Financial Statements for the year ended 31 March 2024

Carers in Hertfordshire

DIRECTORS’ REPORT AND FINANCIAL STATEMENTS

for the year ended 31 March 2024

“You have been a lifeline and the only organisation out of many that has really helped. You’ve answered my queries, called back when you said you would.”

Charity Registration No. 1085491 Company Registration No. 4131036

Carers in Hertfordshire CONTENTS

Page
Directors’ Report 3 - 18
Trustees’ Responsibilities in the Preparation of Financial Statements 19
Independent Auditor’s Report to the Members of Carers in Hertfordshire 20 – 24
Statement of Financial Activities 25
Balance Sheet 26
Statement of Cash Flows 27
Notes to the Financial Statements 28-40

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.

WHAT WE ARE TRYING TO DO

The difference we make

5,056 carers (2022/23: 3,634) were supported with carer focused advice and information through our specialist Information and Carer Planning Service.

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Carers in Hertfordshire DIRECTORS’ REPORT

Our Carers in Hertfordshire county-wide Dementia nursing service for carers worked with 871 carers during the year.

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

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.

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Carers in Hertfordshire DIRECTORS’ REPORT

Our goals How did we do?
Coproduce a new
strategy to guide the
direction of the
Charity over the
forthcoming years		  We worked with carers and other stakeholders to
develop our plans for the next three years.
Developing our
Marketing and
social media		  We have revised the way that we use social media
channels and have significantly increased our use
of a broad range of channels.

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

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

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 wide range 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 General Data Protection Regulation (GDPR) messages are now built into staff induction. This also helped to improve security and 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 124 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 5,056 individuals whose support levels and health and wellbeing levels were improved. The training provided to 627 carers (2022/3: 670) increased carers’ knowledge, reduced isolation, helped carers attending be better able to cope and less stressed.

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

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Carers in Hertfordshire DIRECTORS’ REPORT

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 1,548 young carers aged from 4 to 18 having identified an additional 319 in the year (2022/3: 312), 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.

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.

During the year under review, we did not receive any complaints regarding our fundraising practices.

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.

Our four areas of focus for the first year of our new Strategy are:

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Carers in Hertfordshire DIRECTORS’ REPORT

  1. Understand our Carer Segmentation - we want to make the best use of the information we have so that carers get the right information and support at the right time.

  2. Further improving our Financial Resilience by making the most of technology and partnerships.

  3. The numbers of carers registering is increasing all the time; we anticipate the higher number of carers needing support and at the same time we acknowledge the context of the current economic climate.

  4. People and Diversity Equity & Inclusion – We both want to continue to make sure that every carer counts as well as being an employer of choice in an equitable and inclusive way.

FINANCIAL REVIEW

In the year under review, the Charity received income of £3.286 million (2023: £2.914 million). Within this total, unrestricted income from donations was £27,976 (2023: £25,684) and restricted income from donations was £211,401 (2023: £105,448).

Total expenditure was 3.335 million (2023: £3.094 million). The net deficit for the year was £48,762 before unrealised investment gains, (2023: £179,415 deficit). This leaves total funds carried forward at the balance sheet date of £1.857 million (2023: £1.883 million).

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 2024 the balance on this reserve was increased to £1,014,330 representing 6 months of expenditure based on the 2024/25 financial budget (2023: £975,721).

The Organisation and Future Development Funds are designated by the Board for the purposes of identified business development initiatives. As at 31 March 2024 the balance on these Reserves totalled £16,759 (2023: £58,806) 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.

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Carers in Hertfordshire DIRECTORS’ REPORT

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.

The Trustees are satisfied that the Charity is a going concern.

Investment Powers and Policy

In accordance with the 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 Articles of Association. It is registered as a charity with the Charity Commission. The Board approved and amended the 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.

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Carers in Hertfordshire DIRECTORS’ REPORT

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 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.

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 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 2024, 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 2024 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 a subsequent Board meeting. Our Chief Executive Officer is appointed by the Board to manage the day to day operations of the Charity.

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Carers in Hertfordshire DIRECTORS’ REPORT

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

Additionally, the Charity is guided by 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 Remuneration 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 £12.00 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.

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Carers in Hertfordshire DIRECTORS’ REPORT

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.

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 CC26.). The Charity considers strategic risk regularly as part of the risk assessment process.

The key risks identified by the Board include

Risk Mitigation
Operational
Efficiency
and
Technology		 Inadequate systems,
technology, and
processes leading to
inefficient ways of
working and/ or an
inability to keep ahead
of demand for
services.		 A digital strategy is being developed to
improve technology infrastructure.
Financial
Stability and
Dependence
on Funding		 Overdependence on
specific funding
sources, threatening
the organisation's
ability to continue
operations if funding
ceases.		 A close relationship is maintained with
our funders to ensure we provide value
for money with their investment. Our
Fundraising team is helping us to plan to
increase funding outside our main
contracts. Additionally, a prudent
reserves policy is in place to ensure
financial stability.

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Carers in Hertfordshire DIRECTORS’ REPORT

Risk Mitigation
Staffing and
Succession
Planning		 Insufficiently robust
succession plans and
insufficient staff with
the right skills and
experience, could
potentially lead to
operational failure.		 Succession planning exercises have
taken place and continue for the Chair,
Vice Chair, the CEO other senior
management roles are in place. Job
descriptions and structured interview
processes are used for new recruits, and
training plans are implemented for all
staff, including centrally coordinated
programs like safeguarding. There is also
a focus on building greater diversity
across the organisation.
Regulatory
and
Compliance
Risks		 Failure to comply with
safeguarding
regulations and
specific CQC
regulatory
requirements, leading
to risks of abuse, loss
of operating licenses,
and reputational
damage.		 Safeguarding leads are clearly identified
and receive suitable training, with all staff
and volunteers attending annual
safeguarding training. Safeguarding
policies are reviewed annually to reflect
legislative changes and learning from
Serious Case Reviews. Additionally, a
suitably qualified Regulated Manager
ensures compliance of our Care Services.
Stakeholder
Engagement
and Influence		 Failure to secure
sufficient influence with
key stakeholders,
reducing impact on
policy, collaboration,
and fundraising efforts.		 The Charity actively maintains
relationships with key stakeholders. Co-
production is a fundamental principle of
the organisation's approach, particularly
in collaboration with Hertfordshire County
Council and other stakeholders, to
enhance influence and impact.

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.

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Carers in Hertfordshire DIRECTORS’ REPORT

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:

Kinetic Business Centre Borehamwood WD6 4PJ

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 (resigned 22.04.24) Richard Lewis Appointed 18.03.24 Lauren Mackenzie Appointed 27.02.24

Company Secretary

Michele Stokes

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Carers in Hertfordshire DIRECTORS’ REPORT

Management Team

Senior Managers

Michele Stokes Chief Executive Officer Andy Clapham Head of Central Services and Finance (from 28.11.22-20.10.23) Claire Hallett Head of Finance and Business Support (from 06.11.23) Carole Whittle Health and Wellbeing Manager Roma Mills Policy and Engagement Manager

Team Managers

Alex Daar Volunteer Manager (until 29.12.23) Nicki Bird Volunteer Manager (from 02.01.24) Christine Gillham Information and Carer Planning Support Service Manager Gemma Roake Young Carers Services Manager Hazel Howell Fundraising Manager (from 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 (from 01.08.2023) Steve Probyn Carer Engagement Manager (from 05.09.2023)

Consultants

Jo Watkin Finance Consultant

Auditor

Bankers

Sayer Vincent LLP Virgin Money plc 110 Golden Lane Jubilee House London Gosforth EC1Y 0TG Newcastle Upon Tyne NE3 4PL

National Westminster Bank 80 Shenley Road Borehamwood Hertfordshire WD6 1DZ

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Carers in Hertfordshire DIRECTORS’ REPORT

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

Chair: …………………………………. Mark Montgomery

Dated: 22 October 2024

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Carers in Hertfordshire INDEPENDENT AUDITOR’S REPORT

Opinion

We have audited the financial statements of Carers in Hertfordshire (the ‘charitable company’) for the year ended 31 March 2024 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

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

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.

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:

Carers in Hertfordshire INDEPENDENT AUDITOR’S REPORT

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.

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.

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Carers in Hertfordshire INDEPENDENT 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) 13 November 2024

for and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

24

Carers In Hertfordshire STATEMENT OF FINANCIAL ACTIVIITES (incorporating an income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
2
3
4
11
5
Transfers between funds
Reconciliation of funds:
16
Total funds carried forward
header
Net income/(expenditure) being net
movement in funds
Total funds brought forward
Unrealised gains on investments
5
Net income/(expenditure) 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
£
27,976
2,315,941
60,302		 Restricted
£
211,401
674,199
-		 2024
Total
£
239,377
2,990,140
60,302
3,289,819
3,335,122
3,335,122
23,249
(22,054)
(22,054)
-
(22,054)
1,882,896
1,860,842
(45,303)		 Unrestricted
£
25,684
2,084,155
25,638		 Restricted
£
105,448
673,359
-		 2023
Total
£
131,132
2,757,514
25,638
2,404,219 885,600 2,135,477 778,807 2,914,284
2,459,392 875,730 2,213,803 879,896 3,093,699
2,459,392 875,730 2,213,803 879,896 3,093,699
23,249
(55,173)		 -
9,870		 10,809
(78,326)		 -
(101,089)		 10,809
(179,415)
(31,924) 9,870 (67,517) (101,089) (168,606)
(31,924) 9,870 (67,517) (101,089) (168,606)
(23,131)
(55,055)
1,618,366		 23,131
33,001
264,530		 -
(67,517)
1,685,883		 -
(101,089)
365,619		 -
(168,606)
2,051,502
1,563,311 297,531 1,618,366 264,530 1,882,896

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.

25

Carers in Hertfordshire BALANCE SHEET AS AT 31 MARCH 2024

Company No 4131036

Note
£
Fixed assets:
10
11
Current assets:
12
318,501
452,037
915,937
1,686,475
Liabilities:
13
(151,765)
16
1,060,989
502,322
Total unrestricted funds
Cash at bank and in hand
Short term deposits
Tangible assets
Investments
Restricted income funds
Unrestricted income funds:
Designated funds
General funds
Total charity funds
Debtors
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets		 Note
£
Fixed assets:
10
11
Current assets:
12
318,501
452,037
915,937
1,686,475
Liabilities:
13
(151,765)
16
1,060,989
502,322
Total unrestricted funds
Cash at bank and in hand
Short term deposits
Tangible assets
Investments
Restricted income funds
Unrestricted income funds:
Designated funds
General funds
Total charity funds
Debtors
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets		 2024
£
5,545
320,587		 £
221,293
585,781
936,406		 2023
£
169
297,338
326,132
1,534,710		 297,507
1,585,389
1,686,475
(151,765)		 1,743,480
(158,091)
1,060,989
502,322		 1,141,592
476,774
1,860,842 1,882,896
297,531
1,563,311		 264,530
1,618,366
1,860,842 1,882,896

Approved by the trustees on 22 October 2024 and signed on their behalf by

Mark Montgomery Chair

22 October 2024

26

Carers In Hertfordshire STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Cash flows from operating activities
Net income/(expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation charges
Loss on disposal of fixed assets
(Gains) on fixed asset investments
Dividends, interest and rent from investments
(Increase)/decrease in debtors
(Decrease)/Increase in creditors
Net cash provided by operating activities
Maturation of short term deposits (less interest)
Analysis of cash and cash equivalents and of net debt
Cash at bank and in hand
Notice deposits (less than 3 months)
Total cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Net cash used in investing activities
Cash flows from investing activities:
Interest from investments
Purchases of equipment
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year		 £
£
(22,054)
2,942
-
(23,249)
(60,302)
(97,208)
(6,325)
(206,196)
60,302
133,744
(8,318)
185,728
(20,468)
936,405
915,937
At 1 April 2023
£
480,315
456,090
936,405
2024		 £
£
(22,054)
2,942
-
(23,249)
(60,302)
(97,208)
(6,325)
(206,196)
60,302
133,744
(8,318)
185,728
(20,468)
936,405
915,937
At 1 April 2023
£
480,315
456,090
936,405
2024		 £
£
(168,606)
483
6,103
(10,809)
(25,638)
29,757
(40,447)
(209,157)
25,638
299,016
-
324,654
115,497
820,908
936,405
Cash flows
At 31 March
2024
£
£
(30,026)
450,289
9,558
465,648
(20,468)
915,937
2023		 £
£
(168,606)
483
6,103
(10,809)
(25,638)
29,757
(40,447)
(209,157)
25,638
299,016
-
324,654
115,497
820,908
936,405
Cash flows
At 31 March
2024
£
£
(30,026)
450,289
9,558
465,648
(20,468)
915,937
2023
(206,196)
185,728		 (209,157)
324,654
Cash flows
£
(30,026)
9,558
(20,468)
936,405		 115,497
820,908
915,937 936,405
At 1 April 2023
£
480,315
456,090		 At 31 March
2024
£
450,289
465,648
936,405 (20,468) 915,937

27

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

28

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

29

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

30

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2 Income from donations and legacies

Donations and fund raised income

cies
Unrestricted
£
27,976		 £
211,401
Restricted		 2024
Total
£
239,377		 Unrestricted
£
25,684		 £
105,448
105,448
Restricte		 2023
Total
£
131,132
27,976 211,401 239,377 25,684 131,132

3 Income from charitable activities

Hertfordshire Health Authorities
and Hertfordshire Community
Services
Other income from charitable
activity
Total income from charitable
activities		 Unrestricted
£
2,285,065
30,876		 £
674,199
Restricted		 2024
Total
£
2,959,264
30,876		 Unrestricted
£
2,050,271
33,884		 £
673,359
-
673,359
Restricte		 2023
Total
£
2,723,630
33,884
2,315,941 674,199 2,990,140 2,084,155 2,757,514

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

31

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4a Analysis of expenditure (current year)

Carer advice and information services
Young carer advice services
Involvement services
Carer development and learning
Care services
Business development		 Direct costs
£
29,861
3,517
10,296
13,178
-
131,122
187,974		 Staff costs
£
460,862
269,388
200,814
124,415
507,757
86,368
1,649,605		 Support costs
£
196,362
130,908
130,908
49,090
65,454
49,091
621,812		 2024 Total
£
687,085
403,813
342,018
186,683
573,211
266,581
2,459,392		 2023 Total
£
573,914
324,668
289,207
134,606
528,190
363,218
2,213,803

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		 2024
£
129,302
46,212
71,744
2,942
101,585
7,446
68,393
94,257
83,675
16,256
621,812
2024
£
14,640
1,616
16,256		 2023
£
122,958
56,162
67,262
6,586
100,202
6,968
79,015
80,737
77,786
17,504
615,182
2023
£
13,880
3,624
17,504

32

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

4b Analysis of expenditure (current year)

Direct costs
£
Carer advice and information services
29,861
Young carer advice services
3,517
Involvement services
10,296
Carer development and learning
13,178
Care services
-
Business development
131,122
187,974
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
£
29,861
3,517
10,296
13,178
-
131,122		 Staff costs
£
460,862
269,388
200,814
124,415
507,757
86,368		 Support
costs
£
196,362
130,908
130,908
49,090
65,454
49,091		 2024 Total
£
687,085
403,813
342,018
186,683
573,211
266,581		 2023 Total
£
573,914
324,668
289,207
134,606
528,190
363,218
187,974 1,649,605 621,812 2,459,392 2,213,803
2024
£
129,302
46,212
71,744
2,942
101,585
7,446
68,393
94,257
83,675
16,256		 2023
£
122,958
56,162
67,262
6,586
100,202
6,968
79,015
80,737
77,786
17,504
621,812 615,182
2024
£
14,640
1,616		 2023
£
13,880
3,624
16,256 17,504

33

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5 Net income/(expenditure) for the year

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2024 2023
£ £
Depreciation charge on owned assets 2,942 483
Operating lease rentals:
Plant and machinery 3,779 3,512
Land and buildings 96,067 107,605
Auditor's remuneration
Audit services 14,640 13,880

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:
2024 2023
£ £
Salaries and wages 2,318,760 2,099,534
National insurance 193,186 174,398
Pension costs 96,093 83,874
2,608,039 2,357,806

1 employee earned more than £60,000 during the year, in the bracket £70,001-£80,000 (2023: one employee)

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £562,725 (2023: £485,923).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

There were no reimbursements of trustee expenditure in the year under review. (2023: £nil)

7 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 122 (2023: 124). The full-time equivalent number was 73 (2023: 70).

8 Related party transactions

There were no related party transactions in 2024 (2023: None).

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

34

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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		 Office
furniture and
equipment
£
11,263
8,318		 Total
£
11,263
8,318
19,581 19,581
11,094
2,942		 11,094
2,942
14,036 14,036
5,545 5,545
169 169

11 Investments

Total
Additions
Market value brought forward
Unrealised gain/(loss) the year
Market value carried forward		 2024
£
297,338
-
23,249		 2023
£
286,529
-
10,809
320,587 297,338
320,587 297,338

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.

35

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12 Debtors

Debtors
Trade debtors
Other debtors
Prepayments and accrued income
VAT		 2024
£
82,747
25,978
4,432
205,344		 2023
£
111,737
34,617
5,159
69,780
318,501 221,293

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other creditors
Taxation and social security
Accruals
Trade creditors		 2024
£
11,079
54,994
41,807
43,885		 2023
£
36,081
42,299
44,266
35,445
151,765 158,091

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 £96,093 (2023: £83,874). Contributions totalling £13,805 (2023 £12,063) 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
Net assets at 31 March 2024
Analysis of net assets between funds (prior year)
Tangible fixed assets
Fixed asset investments
Net current assets
Tangible fixed assets
Fixed asset investments
Net current assets		 General
unrestricted
£
5,545
320,587
176,190		 Designated
£
-
-
1,060,989		 Restricted
£
-
-
297,531		 Total funds
£
5,545
320,587
1,534,710
502,322 1,060,989 297,531 1,860,842
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)

36

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16a Movements in funds (current year)

Hertfordshire County Council Equalities Funding
Hertfordshire County Council Public Health Funding
HUBS mentoring volunteering
Improving carer wellbeing
Keep in Touch
Mentoring
HCC Infection control grant
Volunteering
Young Onset Dementia Boreham Wood
Total restricted funds
Other projects
Contingency reserve
Total designated funds
General funds
Carers Trust schools
Hertswise
Other projects
Organisation and Future Development Fund
Unrestricted funds:
Designated funds:
Restricted funds:
Thompson Family Trust
Community Navigator/Link Workers
Dementia Nurses
Borehamwood Seniors
CAHMS Course
Total unrestricted funds
Total funds		 At 1 April
2023
£
150
2,316
3,431
52,967
-
37,003
-
26,719
23,000
45,244
-
-
3,202
15,650
-
54,848
-		 Income & gains
£
850
170,493
336,388
120,000
4,462
35,387
95,184
4,000
6,667
23,667
13,335
7,167
65,000
3,000		 Expenditure
& losses
£
(3,166)
(153,833)
(359,519)
(148,451)
(4,462)
(48,364)
(43,349)
(22,183)
(5,937)
(1,175)
(3,202)
(14,861)
(2,618)
(54,847)
(9,763)		 Transfers
£
23,131
(10,000)
-
-
-
-
10,000		 At 31 March
2024
£
150
-
3,431
69,627
-
8,552
-
3,742
74,835
27,061
730
22,492
-
14,124
4,549
65,001
3,237
264,530 885,600 (875,730) 23,131 297,531
58,806
107,065
975,721		 -
38,609		 16,759
29,900
1,014,330
1,141,592 8,090 (127,302) 38,609 1,060,989
476,774 2,419,378 (2,332,090) (61,740) 502,322
1,618,366 2,427,468 (2,459,392) (23,131) 1,563,311
1,882,896 3,313,068 (3,335,122) - 1,860,842

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

A transfer was made from the general fund to the Dementia Nurses restricted fund during the year to cover an overspend in costs

Following an underspend on the Hertwise fund it was agreed that these monies could be expended on Young Onset Dementia in Borehamwood and a transfer between funds was made to reflect this

37

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16b Movements in funds (prior year)

HCC Equalities
HUBS mentoring volunteering
Improving carer wellbeing
Lottery Caring Volunteers
Step by step project
HCC Infection control grant
Total restricted funds
Contingency reserve
Total designated funds
General funds
Children In Need
Dementia Nurses
Hertswise
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
Carers Trust schools		 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		 58,896
107,065
975,721
1,235,849 3,390 (180,822) 83,265 1,141,682
450,034 2,142,986 (2,032,981) (83,265) 476,774
1,685,883 2,146,376 (2,213,803) - 1,618,456
2,051,502 2,925,183 (3,093,699) - 1,882,986

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

38

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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.

Keep in Touch

This grant provides funds to keep in touch with carers

Young Onset Dementia Boreham Wood

This is for the Young Onset Dementia Group in Borehamwood

Volunteering

Providing supprt for volunteers

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.

39

Carers In Hertfordshire NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Other projects

There has been a designation of funds for a Young Carers project and also a Digital Inclusion project.

Contingency Reserve

The Charity maintains a contingency reserve equivalent to 6 months ongoing unrestricted expenditure.

17 Operating lease commitments payable as a lessee

At 31 March 2024, the company had commitments under non-cancellable operating leases as follows:

Less than one year
One to five years
Over five years		 2024
2023
£
£
27,000
31,250
90,299
-
-
58,250
90,299
Property		 2024
2023
£
£
27,000
31,250
90,299
-
-
58,250
90,299
Property		 2024
2023
£
£
50
1,214
15,082
2,942
-
-
15,132
4,156
Equipment		 2024
2023
£
£
50
1,214
15,082
2,942
-
-
15,132
4,156
Equipment
58,250 90,299 15,132 4,156

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 10 members (2023: 9).

40