Company re8lstratlon number: 04190963 Charlty re8lstratlon number: 1088596 Homemaker Southwest (A company Ilmlted by guarantee) Annual Report and Flnandal Statements for the Year Ended 31 March 2024
Hornernaker Southwest Contents Reference and Admln15tratlve Detalls Trustees, Report 2to6 Statement of Trustees, Responslbllltles Independent Audltors, Report 8t013 Statement of Flnanclal Actmtles 14tolS Balance Sheet 16 Statement of Cash Flows 17 Notes to the Flnandal Ststements 18to32
Homemaker Southwest Reference and Adrnlnlstratlve Detalls Trusts•s Dr R C Cresswell, M.B.E. Ms J Fr(K>m MrRWBall MsNJHall Ms A Lswayne Andrea Carllsle, Dlrector Vanessa Handley, Dlrector of Development Sarah Fayter, Offlce Mana8er S•nlor Manayrnent / Lead•rshlp Tearn Charlty Rqlstrttion Nurnb•r 1088596 Company R•8lstrntlon Numb•r04190963 The charlty Is Incorporated In England and Wales. Unlt I Stoke Damerel Buslness Centre Church Street Plymouth PL3 4DT R•815t•red Offl¢• Audltorn Four Fffty Partnershlp Chartered Accountants & Re8lstered Audltor 34 Boulevard Weston-super-mare Somerset BS23 INF Pa8e I
Homemak•r Southwest Truste•s' Report The trustees, who are dlrertors for the purposes of company law, present the annual report tO8ether with the financlal statements and audltors, report of the charltable company for the year ended 31 March 2024. ObJectlv•s and acthrftles Objects and alms The objects of the charlty as set out In the Memorandum and Artlcles of Assoclatlon are: l) 'Yo promote the benefft of the Inhabltants of the countles of Gloucestershlre, Somerset, Wlltshlre, Hampshlre, Dorsek Devon and Cornwall and wlthout dlstlnctlon of sex or polftlcal, rell8lous or other oplnlons to provlde facllltles In the Interests of soclal welfare wlth the object of Improvln8 the condltlons of Ilfe for the sald Inhabltant&" 11) 'Yo relleve persons resldent In the desl8nated area who; a) are In condltlons of need, hard5hlp and dlstress. or b) are homeless or threatened wlth homelessness." Our mlsslon Is to enable people, especlally those who are vulnerable, to set up, malntaln and sustaln thelr home5, and thus prevent homelessness. We belleve that everyone has the rlght to a safe, secure and affordable home; and that everyone has the rl8ht to be treated wlth respect, whatever th•lr drcumstances. We alm to promote soclal Incluslon. We fumi our mlsslon In a varlety of ways, Includln& - the assessment of what someone needs to malntaln thelr home provlslon of advlce and sUPPOrt accordlng to Indlvldual clrcumstance5, whlch may Include rnaklng sure they get all the benefits to whlch they are entltled . help wlth bud8etln& payln8 bllls, sortln8 Out rent arrears, and deallng wlth debts - accompanylng cllents to court hearlngs re8ardln8 rent arrears . asslstance wlth movln8 Into a property. We contlnue to see a stron8 demand for our 5ervlces due to the Increased needs resultln8 from rlsln8 energy prlces and the rnore 8eneral 'cost of Ilvlng crlsls,. Contlnued hard work and dlll8ence by our Management Team ensured that our annual Income has largely been malntslned. Thls ensured another year of stablllty for our experlenced staff tearn. It Is remarkable that desplte the pressures and uncertalntle5 caused by the 8eneral economlc Instablllty. HDmemaker has contlnued to provlde an excellent servlce to our dlents and commlssloners. The adaptablllty and dedlcatlon of our staff 15 hlghly commendable. Page 2
Homemaker Southwest Trust••s' Report Publk benefft The Charws prlnclpal actlvltles and maln beneflclarles are set out In thls report, hl8hll8htln8 the actlvFtles undertaken to further our charltable purposes for publlc benefft. The Charlty does not charge Its cllents for accessln8 Its servlces, whlch are funded elther by 8rants andlor Servlce Level Agreements wlth commlssloners. Thls allows servlces to be free at the polnt of dellvery, helpln8 US to acces5 cllents In hard-to-reach groups vtho ml8ht not en8a8e If they could not afford to pay. Homemaker Southwest operates for the publlc benefit, and partlcularly In the followln8 reas: - preventln8 and rellevln8 poverty rellevln8 those In need, by reason of111-health, dlsablllty, flnanclal dlsadvanta8e or other dlsadvants8e - preventlng homelessness and promotln8 Independence for d15advanta8ed people. Durln8 the perlod l Aprll 2023 to 31 March 2024, the Homemaker staff team: - opened 1,980 new case flles secured £5,124,945 In flnanclal [n5 for cllents. helpln8 them to keep thelr homes and malntsin thelr Ilves - prevented 18 cases of homelessness. The trustees conflrm that they have cornplled wlth the requlrements of sectlon 4 of the Charltles Act 2011 to have due re8ard to the publlc benefft 8uldance publlshed by the Charlty Commlsslon for En8land and Wales. Use ofvolurteefs The Charfty make5 Use of the servlces of volunteers and the Trustees appreclate and value thelr contrlbutlon. There Is currently one volunteer who supports the team and asslsts wlth beneffts and appeals. Pe3
Homemaknr Southwest Trustees, Report Flnanclal revlew The Trustees have revlewed the flnanclal posltlon of the Charlty and are a8reed that It Is currently vlable and trades lawfully. It has a number of pollcles whlch help to ensure that the flnanclal position Is kept under contlnuous revlew; these Indude monthly reports from the mana8ement team .to the Board concernln8 cash flow and Income/expendlture statements. These documents are revlewed by the Treasurer who makes spat checks for accuracy. As part of its flnanclal horlzon scannln& the Board looks at the securlty of Income 8oln8 forward and the proportlon of contracts whlch are Secure for the current and future years. We are confldent that Income Is secure for 2024125, and that we can cover current expendlture. As wlth prevlous years, the uncertalnty of the Money and Penslons Servlce (MaPS) fvndlng to dellver a debt servlce In Plymouth and Torbay has contlnued; the reductlon In fundln8 for thls project In 2023124 saw us lose 0.4FfE In staffln& althou8h demand for the servlce remalns hl8h. The contracts we have wlth local authorltles contlnue, wlth two beln8 rfrawarded beyond March 2026. The AQS assessment for the MaPS DAP Project was successful and the certlflcats has been re-awarded. We now have a mlxture of hornbaSed and offlce-based staff, althou8h we contlnue to offer both a telephone servlce and a cllent face-tO•face servlce where thls Is approprlate and necessary. Thls has Increased some costs due to home worklng allowances whlch have been rnore than offset by a redurtlon In travelllng expenses. We now have only one offlce, whlch Is In Plymouth,. thls Is a150 our Reglstered Offlce address, from whlch the MaPS team Work. Polky on reserves In accordance wlth the Charlty Commlsslon's guldance on reserves, the Board has consldered and agreed to a reseNes strategy of creatlng a contln8ent reserve equlvalent to mlnlmum of three months, runnln8 expenses plus patentlal redundancy costs. Thls would enable the Charlty to contlnue Its actlvFtles for a Ilmlted perlod In the event of a 518nlficant drop In fundlng. The reserve (Note 18) currently stands at £162,000, the level requlred to fully meet the reserves strategy objertlve. Pa8e 4
Homernaker Southwest Trust••s' Report ndpolfvndlnq sources Homemaker has a range of fundlng sources: most of them from statutory bodles such as local authorltles and the Money Advlce Servlce, or from Re8lstered Soclal Landlords. Although Homemakerfs partnershlp wlth Exeter CAB ended In March 2024, 4 other contract renewals have been successful. In Aprll 2023, the Centre for Sustalnable Energy won thelr tender and re-contracted wlth Homemaker to provlde a money advlce servlce to cllents they Identlfy as needln8 SUPPOrt. Thls contract run5 untll March 24, but Is expected to 80 beyond thls. New contracts to suppty money advlce to South Hams and West Devon Dlstrlct Counclls were secured wlth effect from Ortober 2023; these are for 3 years wlth an optlon for a 2 year extenslon. A further contract to provlde money advlce servlces to Tel8nbrld8e Dlstrlct Councll wa5 secured wlth effect from Aprll 2024; thls contract Is for 2 years wlth an optlon for a I year extenslon. The largest expendlture Is on salarles for staff who help us to dellver our charftable alms In the homes and communltles of our cllents In the South West. The Board agreed a 3% pay Increase wlth effect from tst January 202 Investmentpoll¢y objertlv Our maln accounts are wlth the Co-operatlve Bank (current and onllne savln8s accounts) as they have lower costs and a better Interface for charltles. Reserves have also been lod8ed In Natlonwlde Bulldln8 Sodety Savlngs Account and a Charlty Bank ICK) Day Notlce Account. Itls our alm that no one account contalns more than £85 Golnq conc•rn The trustees have prepared the flnanclal statement5 on a 8oln8 concern basls as. In thelr oplnlon, the Charlty Is able to meet its obll8atlon5 as they fall due. Thls oplnlon Is based on forecastlng for the 12 months from 518nln8 these flnanclal statements. The Charlty contlnues to see a stron8 demand for Its servlces due to the Increased needs resultlng from the 'cost of Ilvlng crlsls '. The Trustees are confldent that they wlll be able to obtsln fvture fundln8 from a wlde range of Sources to be able to contlnue thls valuable work. As such, the Trustees are of the oplnlon that It Is wholly approprlate to prepare the accounts on a 8oln8 concern basls. Pa8e 5
The charlty Is • prfv4ts company Umltsd by iuar•ntse Inumber 04190963) and was Incorpornted on 30 M•rth 2001. It wai regtstered wlth the Ch•rlty Comm1551on (Realstratlon Number 1088596) on 26 September ZOOI. The comyny was éstab115hed under a Memor•ndum of Assoclatlon whlth daxrlbes the objects and powers of th• rItable compryp and It Is aovemed under Its Artkles af AsFoclatlon. New trusttts are appolnted by the Brd. ift•r conslderrtlon ot applkatlons Irom volunts•rs. TruJta• numbers from p mlftlmum of fv• to i m•xlmum of tsefv•. 202¥24, mamlxrthlp of tho eoard r•maln•d stabkn wlth a total mem Rocfultment of addftlonal Bo•rd m•mbers Is stlll sqen as a prlorlty. N•w Tntstees are Induct•d by th• Chilr and Executlve Dlrectori. Trnlnlng tor Trust•es 15 irrar as deem•d n•cewry. The Truste•s me•t r•8ul•rly, usually 5 m••tlnp p•r yur, more frequent m•etlw Jre held vthen drcumstsnces demand. They Jr• respon61• for 5ettlng polkles. manulnl fln•ndal iffalrs ind d•t•rni1nIthO Charws strntealc dlrertlon. The Dlr•rtor, the lector of Dw•lDpment and the Office Mana8er form tha Le3der5hlp Trn whlch runs the Or8Jnlsatlon on a day to day bals. All the case wothrs report to tbe Dlrnctor of Oev•lopmenL The Dlrector of DmlopmenL th• offi Mana8er Ind t MAS Admlnlstrntor r•pon w th• Dlrettor. Dlkn of knfomiltlon to •udltor Eath trustee Ims t•ken stepi th•t they owht to h•ve tsk•n as a truthe In order to m•ke th•m6•lves aware ol any rel•¥t audll Intorniatlon and to establlsh that the thartys audltpr Is awarn of thai knformJtlon. Th• trustws conflrm that th•rn Is no role¥•nt Informatlon ih¥t they know of and of whlch they knaw th• 4udltor Is unawar•. Th• annual report WD5 •ppro¥od by thè trustees of the tharlty on 7.....1.¥..%lt•nd on its behNK bw. R C CressvAII. M.b.E Trustee Pagè 6
The truste•s (who Ire algo th• dlrKtors ot Hom•m•ker Sthwut lor thq PUTPOW of company law) ar• rwonslble for prnprlnq th• truste•s' reprt and th• IlnaThdal statem•rrts In ac¢ordano wlth ipplkabl• liw and Unlted Kln8dom Accountln8 Standards (Unlted Klngdom Gornrnlly Accepted Accountln8 Prnctlcel. IncludlnB FRS 102 'Th8 Flnandal Report Stmdard appllclble In the UK and Rep11¢ of Ireland". Company law rnqulres the tru$teei to prepare flnanclal ststements for e•ch flft•nd year. Under company Iw the trnstoe5 rnu not approve the flnandal statemants unless they arn s•tlsfied that they 8lve a true ind falr vlew of the state of affalrs of the tharltsble companv and of the Incofflln8 resources and appllcatlon of resourcos. Indudlnl Its Income and •xpendltur•, of the tharftsble company for that pertod. In preparln8 theM Ilftandal Statsments, the trustees requlred to: ble accounUn8 pollcles and apply them consljtently. mak• Juements and estlmates that are reai(ttMble and prud•ftL' 5tOte whother applkabl• •ccountlni standards, comprfslno FRS 102 have b•4n follN•d, sublect to any materfal deplrturns dIo$•d and explalned In th• Iln•ndal stt•m•nty' and preparn the flnancb81 st8temenfs on tho concern basls unlw It li Inapprwlate to presume that the chJrltabk cwipany wlll contlnue In buslness. The trustets •re respon51ble ftK keen$ proper accountln8 records th•t can dlsdose whh reasonable accuracy Jt any tlme the flnandal posltlon ot the charftable company and en•ble thom to ensurn thal the ftbafi&l Stitenwnts <y wlth tha Campankns Act 2<X)6. They ar4 also rewonslbl• for safeguardlng th assets ol the dwrltrbh company and heft for takln4 reworoble steps lor the preventlon ind d•tedlon of fr•ud and othw Irra8ularttl• The tteeS are responslblt tor th• milnt•Dance 8NI Intelrfty of the cofprte and flnar•clal Infonnatlon Indudal on the ch•Tftble company's web%lte. Loalslation 8Dvernlna the preparation and dluernlnaiion of IlnJncI 5t•ttments may dlffer frorn le¢lJl•tloTh In other jurlsdlctlom. Approved by the tTU5tees ol the Charlty on .., Dr R C Cresswell, M.B.E. Trustee P•8e 7.
Homemaker Southwest Independent AudltoVs Report to the Members of Homemaker 5outhw•st Oplnlon We have audlted the flnanclal statements of Homemaker Southwest (the 'charlV) for the year ended 31 March 2024, whlch comprlse the Ststement of Flnanclal Actlvftles Balance Shert Statement of Cash Flows, and Notes to the Flnanclal Statements, Includln8 a Summary of 51gnlflcant accountlng pollcles. The flnanclal reportln8 framework that has been applled In thelr preparatlon Is Unlted Klngdom Accountlng Standard5, comprlsln8 Charltles SORP - FRS 102 'The Flnandal Reportlng Standard appllcable In the UK and Republlc of Ireland, and appllcable law {Unlted Kln8dom GenerallyAccepted Accountln8 Practlce). In our oplnlon the flnanclal statements: glve a true and falr vlew of the state of the charlty's affalrs as at 31 March 2024 and of Its Incomlng resources and appllcatlon of resources. Includln81ts Income and expendlture, for the year then ended; have been properly prepared In accordance wlth Unlted Kln8dom Generally Accepted Accountln8 Practlce; and have been prepared In accordance wlth the requlrements of the Companle5 Act 2006. Basls for oplnlon We conducted our audlt In accordance wlth Internatlonal Standards on Audltlng (UK) (ISAS (UK)) and appllcable law. Our responslbllltles under those standards are fvrther descrlbed In the audltor respon51bllltles for the audFt of the flnanclal statements sectlon of our report. We are Independent of the tharlty In accordance wlth the ethlcal requlrements that are relevant to our audlt of the flnanclal statements In the UK, Includln8 the FRC5 Ethlcal Standard, and we have fulfllled our other ethlcal respon51bllltle5 In accordance wlth these requlrements. We belleve that the audlt evldence we have obtalned 15 5ufflclent and approprlate to provlde a basls for our oplnlon. Page 8
Homemaker Southwest Indep•ndert Audltor's Report to th• Members of Homemaker Southwest Conclu$lons rolatln8 to 8olng concern In audltln8 the flnanclal statements. we have concluded that the trustees use of the 8oln8 concern basls of accountln8 In the preparatlon of the flnanclal ststement51s approprlate. Based on the work we have performed, we have not Identlfled any materlal uncertalntles relatln8 to events or condltlon5 that Indlvldually or collectlvely, may cast sl8nlflcant doubt on the charlty'5 ablllty to contlnue as a golng concem for a perlod of at least twelve months from when the orlglnal )Inanclal statements were authorlsed for Issue. Our responslbllltles and the respon51bllftles of the trustees wlth respert to goln8 concern are descrlbed In the relevant 5ectlons of thls report. Oth•r Inforrnatlon The trustees are responslble for the other Infonnatlon. The other Informatlon comprlses the Informatlon Included In the annual report, other than the flnanclal statements and our audltorfs report thereon. Our oplnlon on the flnanclal ststements doe5 not cover the other Informatlon and, except to the extent otherwlse expllcltly stated In our repor¢ we do not express any form of assurance concluslon thereon. In connertlon wlth our audft of the flnanclal statements, our responslblllty Is to read the other Informatlon and, In dolng so, conslder whether the other Informatlon Is materlally Inconslstent wlth the flnandal statements or our knowled8e obtalned In the audlt or otherwlse appears to be materlally mlsstated. If we Identlfy such materlal Inconslstencles or apparent materlal mlsststements, we are requlred to determlne whether there Is a materlal mlsstatement In the flnanclal statements or a materlal mlsstatement of the other Informatlon. If, based on the work we have performed, we conclude that there Is a materlal mlsstatement of thls other Informatlon, we are requlred to report that fact. We have nothln8 to report In thls regard. Oplnlon on oth•r matter preKrlbed by the Compan1 Art 2006 In our oplnlon, based on the work undertaken In the course of the audlt: the Inforniatlon 8lven In the Trustee5' Report for the flnanclal year for whlch the flnanclal statements are preparedls conslstent wlth the flnandal statements; and the Trustees, Report has been prepared In accordance wlth appllcable le8al requlrements. Matters on whlth w• ar• requlred to report by exceptlon In the Ilght of our knowledge and understandlng of the charlty and Its envlronment obtalned In the course of the audit, we have not Identlfled materlal mlsstatements In the Trustees, Report. Page 9
Homemaker Southwest Independent Audltor's Report to the Memr$ of Homemak•r Southw•st We have nothln8 to report In respect of the followln8 matters where the Companles Act 2006 requlres us to report to you If, In our oplnlon: adequate accountlng records have not been kept, or returns adequate for our audlt have not been recelved from branche5 not vlslted by us; or the flnanclal statements are not In a8reement wlth the accountln8 records and returns; or • certaln dlsclosures of trustees remuneratlon spedfled by law are not made; or we have not recelved all the Inforn)atlon and explanatlon5 we requlre for our audlt. Responslbllhl•s of trust• As explalned more fully In the Statement of Trustee5' Responslbllltles (set out on page 71, the trustees are responslble for the preparatlon of the financlal statements and for beln8 satlsfled that they glve a true and falr vlew, and for such Internal control as the trustees determlne Is necessary to enable the preparatlon of flnanclal statements that are free from materlal mlsstatemenl whether due to fraud or error. In preparlng the flnanclal statements the trustees are re5ponslble for asse551n8 the charfty's ablllty to corrtlnue as a golng concern, dlsclosln& as appllcable, matters related to goln8 concern and usln8 the 8oln8 concem basls of accountln8 unless the trustees elther Intend to Ilquldate the charlty or to cease operatlons, or have no reallstlc alternatlve but to do so. Audltor r•sponJlbllltles for th• audlt of th• flnandal stat•m•nts Our objectlves are to obtaln reasonable assurance about whether the flnanclal statement5 as a whole are free from materlal mlsstatemenL whether due to fraud or error, and to Issue an audltorfs report that Indudes our oplnlon. Reasonable assurance Is a hlgh level of assurance, butls not a guarantee that an audlt conducted In accordance wlth ISAS (UK) wlll always detect a materlal mlsststement when It exlsts. Mlsstatements can arlse from fraud or error and are consldered materlal If, Indlvldually or In the a88re8ate, they could reasonably be expected to Influence the economlc dedslons of users taken on the basls of these flnanclal staternents. The extent to whlch our procedures are capable of detectlng Irre8ularltles. Includln8 fraud Is detalled below: Page 10
Homemaker Southwest Independent Audltor's Report to the Mernbers of Hom•mak•r Southwest To address the rlsk of fraud through management blas and overrlde of controls we: performed analytlcal procedures to Identlfy any unusual or unexpected relatlonshlps; tested Journal entrles to Identlfy unusual transactlons; • assessed whether Jud8ements and assumptlons made In determlnln8 the accountln8 estlmates were Indlcatlve of potentlal blas; and Investl8ated the ratlonale behlnd sW)fficant or unusual transactlons. In response to the rlsk of Irre8ularltles and nonwcompllance wlth laws and re8ulatlons we desl8ned procedures whlth Induded, but were not Ilmfted to: a8reeln8 flnanclal ststement dlsd05ures to underlyln8 SUPPOrtln8 documentatlon; • readlng the mlnutes of meetln85 of those charged wlth governance; enqulrln8 of management as to actual and potentlal Iltl8atlon and clalrns; and • revlewlng correspondence wlth HMRC, relevant re8ulators and the companvs le881 advlsors. There are Inherent Ilmltatlons In our audlt procedures descrlbed above. The more removed that laws and regulatlons are from flnanclal transactlon5, the les5 Ilkely ft Is that we would become aware of non-compllance. Audltln8 Standards also Ilmlt the audlt procedure5 requlred to Identlfy non<ompllance wlth laws and re8ulatlons to enqulry of the Trustees and other mana8ement and the Inspectlon of regulatory and le8al correspondence, If any. Materlal mlsstatements that arlse due to fraud can be harder to detect than those that arlse from error as they may Involve dellberate concealment or colluslon. Page 11
Hornernaker Southwest Independ•nt Audltor's Report to the Members of Homemaker Southw•st Our approach to Identlfyln8 and assessln8 the rlsks of materlal mlsstatement In respect of Irre8ularltles, Includln8 fraud and non-compllance wlth laws and re8ulatlons, was as follows: the engagement partner ensured that the en8a8ement tearn collectlvely had the approprlate competence. capabllltle5 and 5k1115 to Identlfy or reco8nlse non-compllance wlth appllcable laws and re8ulatlons; • we Identlfled the laws and re8ulatlons appllcable to the Charlty throuth dlscusslons wlth Trustees and other rnanagernenl and from our knowledge and experlence of the sector; we focused on specffic laws and re8ulatlons whlch we consldered may have a dlrect materlal effert on the flnanclal statements or the operatlons of the Charlty, Includlng the Companles Act 2006, Charltles Act 2011, Charltles SORP (2015 FRS102), employment law and health and Safety regulatlons; • we assessed the extent of compllance wlth the laws and regulatlons Identffled above through maklng enqulrles of mana8ement and Inspectln8 legal correspondence; and • Identlfled laws and re8ulatlons were communlcated wlthln the audlt team regularly and the team remalned alert to Instances of non-cornpllance throughout the audlt. We assessed the susceptlblllty of the CharIt5 flnandal statements to materfal mlsststemenL Includln8 obtslnln8 an understandln8 of how fraud ml8ht occur, by: • makln8 enqulrles of mana8ement as to where they consldered there was su5ceptlblllty to fraud, thelr knowled8e of actual, suspected and alle8ed fraud; and • con51derln8 the Internal controls In place to mltl8ats rlsks of fraud and non-compllance wlth laws and re8ulatlons. UM of our r•port Thls report Is made solely to the charltable company's trustees, as a body, In accordance wlth Chapter 3 of Part 16 of the Companles Act 2006. Our audft work has been undertaken so that we ml8ht state to the charlty's trustees those matters we are requlred to state to them In an audltorfs report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responslbllltyto anyone other than the charltable company and Its trustees as a bodyi for our audlt worK for thls repor¢ or for the oplnlons we have formed. Pa8e 12
Hom•makff Southwest Independent Audltor's Report to th• Members of Homem•k•r Southwest Joy Boswell FCCA FCA (Senlor Statutory Audltor) For and on behalf of Four Flfty Partnershlpi Statutory Audltor 34 Boulevard Weston-super-mare Somerset B523 INF Date:. Page 13
Horn•maker Southwest Staternent of Flnandal Actmues for th• Ymr Ended 31 Marth 2024 (IndUd1 Income and Expendlture Account and Ststernent of Total Reco8nls•d Galns and Lwesj Unrestrlct•d funds Totsl 2024 Rastrlct•d Note Incorne and Endawm•nts from: Charltable actlvltles Investment Income Other Income 220,447 4,951 19,350 158,798 223 379,245 5,174 19,350 Totsi Income 244,748 159,021 403,769 Exp•ndltur• on: Charltable actmtles 1182,859) (182,859) (188,565 (371,4241 Total Expendlture Net Incomellexpendlture) Transfers between funds (188,565 (371,424) 61,889 (5.506) (29,544) 5,506 32,345 Net movement In funds 56,383 {24,038) 32,345 R•condllatlon of funds Total fvnds brou8ht forward Total funds carrfed forward 237,859 26,578 264,437 18 294,242 2,540 296,782 The notes on pa8es 18 to 32 fomi an integral part of these flnandal statements. Pa8e 14
Homemaker Southwert Statement of Flnancial Actlvltl•s for the Year Ended 31 Marth 2024 {Indudln8 Income and Expendlture Account and Statement of T¢Jtal Rewgnlsed Galns and Logsej) Unrestrfcted funds Total 2023 Restrlcted Incom• and Endowm•nts from: Charltable actfvltles Investment Income Other Income 175,559 1483 26,383 174,604 350,163 26,383 Total Income 204,425 174.604 379,029 Expendlturn on: Charltable actlvltles (149,467 (201,000) 350,467) 149,467) (201.OCMI) (350,467) Total Expendlture Net Income/(expendlturel Transfers between fvnds 54,958 (710) (26,396) 710 28,562 Net movement In funds 54,248 125,686) 28,562 Reconclllatlon of fvnds Total funds brou8ht forward Total fvnds carrled forward 183,611 52,264 235,875 237,859 26,578 264,437 All of the charlty's artmtles derlve from contlnuln8 operatlons durlns the above two perlods. The funds breakdown for 2023 Is shown In note 18. The notes on pa8es 18 to 32 form an Integral part of these flnanclal statements. Page 15
lano Sh•et M •t 31 Mardb 2024 D•btors Cash at nk and In h•nd 12 17,282 911.256 11,300 281.011 328 538 291311 296,782 264,437 Fundjof th• dwllf. 1540 26,578 237,859 Total fimd• 264,437 Thu• flnanclll st•t•m•rti hatr• b••n prwr•d In a¢cord•nc• wtth th• spttlal provlslani r•lrtlni ta comp•nlw 8ubJKt to th• small compinlrf r•Wm• wlthln P•rt 15 of th• Comp•nlMA¢t 200& Th• )IMndal s •nts on paw 14 to 32 wff• •pprov•d by the trust•w, Ind authorls•d Ms J"Froom Trurt•• Th• notsson pays 18 to 32 forni in Intsiral part of thw• flnandal rtat•m•nts. Pap 16
Homomaker Southwest Statement of Cash FlfM$ for the Year Ended 31 March 2024 2023 Note Cash flows from op•ratln8 •ctlvltl Net cash Income 31345 28,562 Adjustments to cash flow5 from noTrca5h Items Investment Income (5,1741 27,171 2,483 26,079 Worklry capltal adJustm•ntJ {Increase)/decrease In debtors Increase/(decrease) In credltors Net cash flows from operatln8 artlvltles Cash flaws from Inv•5tln8 actlvltl•s Interest recelvable and slmllar Income 12 (5,982) 3,882 8,730 (26,666) 14 25,071 8,143 5,174 2,483 Net Increase In cash and cash equlvalents Cash and cash equlvalents at l Aprll Cash and cash equlvalents at 31 March 30,245 10,626 281,011 270,385 311,256 281,011 All of the cash flows are derlved from contlnuln8 operatlons durlngthe above two perlods. The notes on pages 18 to 32 form an Inte8ral part of these flnanclal statements. Page 17
Homemak•r Southw•st Notes to the Flnandal Stataments for th• Ytsr Ended 31 March 2024 I Charfty Status The charlty Is Ilmlted by 8uarantee, Incorporated In En8land and Wales, and consequently does not have share capitsl. Each of the trustees 15 Ilable to contrfbute an amount not exceedln8 £1 towards the assets of the charlty In the event of Ilquldatlon. The addre55 of Its re8lstered offlce Is: Unlt I Stoke Damerel Buslness Centre Church Street Plymouth PL3 4DT 2 Accountlnl pollcles Sumrnary of acwuntlnB polld•s and k•y accountlng ostlmatos The prlnclpal accountlng pollcles applled In the preparatlon of these flnandal statements are set out below. These pollcles have been cons15tently applled to all the years presented, unle55 Otherwlse stated. Ststem•nt of compll•nc• The flnanclal statements have been prepared In accordance wlth Accountln8 and Reportln8 by Charltles: Statement of Recommended Prartlce (appllcable to charltles preparlng thelr accounts In accordance wlth the Flnandal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102)) (155ued In October 2019) . (Charltles SORP (FRS 1021), the Flnandal Reportln8 Standard appllcable In the UK and Republlc of Ireland (FRS 102) and the Companles Act 2006. B•515 of pr•paratlon Homemaker Southwest meets the deflnltlon of a publlc benefft entlty under FRS 102. Assets and Ilabllltles are Inltlally reco8nlsed at hlstorlcal cost or transactlon value unless otherwlse stated In the relevant accountlng pollry notes. The presentatlon currency of the flnanclal statements Is the Pound Sterlln8 (£). Page 18
Hom•maker Southwest Note5 to the Flnandal Stst•rnents for the Year Ended 31 Marth 2024 GOI conc•rn The trustee5 have prepared the flnanclal statements on a golng concern basls as, In thelr oplnion, the Charlty Is able to meet Its obll8atlons as they fall due. Thls oplnlon Is based on forecastlng for the 12 months from sl8nln8 these flnanclal statements. The Charlty contlnues to see a stron8 demand for Its servlces due to the Increased needs resultlng from the 'Cost of Ilvlng crls15'. The Trustees are confldent that they wlll be able to obtaln future fvndln8 frorn a wlde range of sources to be able to contlnue thls valuable work. As such, the Trustees are of the oplnlon that It Is wholly approprlate to prepare the accounts on a 8oln8 concern basls. Ex•rnptlon frorn pr•parlry a cash flow stat•rnent The charfty Is exempt from preparlng a cash flow statement In accordance wlth Bulletln I publlshed on 2 February 2016 and have therefore not Included a cash flow ststement In these flnanclal statements. Income and •nd{rMentS All Income Is recognlsed In the Statement of Flnanclal Actlvltle5 once the charlty has entltlement to the fvnds It Is probable that the Income wlll be recelved and the amount can be measured rellably. Grnnts recelvoble Grants are reco8nlsed when the charlty ha5 an entltlement to the fvnds and any condltlons Ilnked to the grants have been rnet. Where performance condltlons are attached to the 8rant and are yet to be met, the Income 15 reco8nlsed as a Ilablllty and Induded on the balance sheet as deferred Income to be released. Investment Income Includes bank Interest recelved whlch Is reco8nlsed once the charlty recelves entltlement to It. Page 19
Homemaker Southwest Notes to the Flnandal Ststements for the Year End•d 31 March 2024 Expendfture All expendlture Is recognlsed once there Is a legal or constructlve obllgatlon to that expendlture, It Is probable settlement Is requlred and the amount can be measured rellably. All costs are allocated to the appllcable expendlture headlng that aggregate slmllar costs to that category. Where costs cannot be dlrectly attrlbuted to partlcular headlngs they have been allocated on a basls conslstent wlth the use of resources, wlth central staff costs allocated on the basls of tlme spent and depreclatlon charges allocated on the portlon of the assevs use. Other support costs are allocated based on the spread of staff costs. tharftable artfvltles Charltable expendlture comprlses those costs Incurred by the ch8rlty In the dellvery of Its actlvltles and servlces for Its beneflclarles. It Includes both costs that can be allocated dlrertly to such actmtles and those costs of an Indlrect nature necessary to support them, 6nint expendlture Grants payable are payments made to thlrd partles In the futherance of the charltable objectlves. Where the charlty glves a 8rant wlth condltlons for Its payment belng a spedflc level of servlce or output to be provlded, such grants are only reco8nlsed In the SOFA once the reclplent of the grant has provlded the specffic servlce or output. Grants payable wlthout performance condltlons are only recognlsed In the accounts when commltment has been made and there are no condltlons to be met relatln8 to the grant whlch remaln In the control of the charlty. Provlslon for yants are made when the Intentlon to make a grant has been communlcated to the reclplent but there Is uncertalnty about elther the tlmln8 of the grant or the amount of 8rant payable. Support cojti Support costs Indude central fvnctlons and have been allocated to actlvlty cost cate8orles on a basls conslstent wlth the use of resources, for example, allocatln8 property costs by floor areas, or per caplta, staff costs by the tlrne spent and other costs by thelr usage. G0mment 8rants Government 8rants are recognlsed In accordance wlth the accrual model set out In FRS 102. The Charfty has taken advants8e of the Coronavlrus Job Retentlon Scheme (CJRS). Income from thls Is reco8nlsed when the cost was Incurred. Page 20
Homernaker Southwest Notes to the Flnanclal Staternents for the Year Ended 31 March 2024 Taxatlon The charlty Is considered to pass the tests set out In Paragraph I Schedule 6 of the Flnance Act 2010 and therefore It meets the deflnltlon of a charltable company for UK corporatlon tax purposes. Accordlngly, the charlty Is potentlally exempt from tsxatlon In respect of Income or capltal galns recelved wlthln categorles covered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Sectlon 256 of the Taxatlon of Chargeable Galn5 Act 1991 to the extent that suth Income or 8alns are applled excluslvely to charltable purposes. Tan8lbl• flxed aimts Indlvldual flxed assets costln8 £1,000 or more are Inltlally recorded at cost, less any subsequent accumulated depredatlon and subsequent accumulated Impalrment losses. Depr•datlon and amortlsatlon Depreclatlon Is provlded on tan8lble flxed assets so as to wrlte off the cost or valuatlon, less any estlmated resldual value, over thelr expected useful economlc Ilfe as follow5: Ass•t d•ss D•pr•clatlon method and rat• 33% on cost and 15% reducln8 balance Plant and machlnery etc Trade debtors Trade debtors are amounts due from fvndln8 provlders for servlces performed In the ordlnary course of buslne5S. Trade debtor5 are reco8nlsed Inltlally at the transactlon prlce. They are subsequently measured at amortlsed cost Usln8 the effectlve Interest method, less provlslon for Impalrment. A provlslon for the Impalmient of trade debtors Is establlshed when there Is objectlve evldence that the charlty wlll not be able to collect all amounts due accordlng to the orlglnal tenns of the recelvables. Cash and cash •qulval•nts Cash and cash equlvalents comprlse cash on hand and call deposlts, and other 5hort-terni hl8hly Ilquld Investments that are readlly convertlble to a known amount of cash and are subject to an Insl8nlllcant rlsk of change In value. Pa8e 21
Homerniker Southwest Notes to the Flnandal Ststemonts for the Year Ended 31 March 2024 Trade Credltors Trade credltors are obll8atlons to pay for goods or servlces that have been acqulred In the ordlnary course of buslness from suppllers. Accounts payable are classlfled as current Ilabllltles If the charlty does not have an uncondltlonal rlght. at the end of the reportlng perlod, to defer settlement of the credftor ft>r at least twelve months after the reportln8 date. If there Is an uncondltlonal rl8ht to defer settlement for at least twelve months after the reportln8 date, they are presented as non<urrent Ilabllltles. Trade credltors are recognlsed Inltlally at the transactlon prlce and subsequently measured at amort15ed cost usln8 the effectlve Interest method. Fund structur• Unrestrlcted Income fvnds are general funds that are avallable for use at the trustees's dlscretlon In furtherance of the objectlves of the charlty. The unrestrlcted funds operated by the charlty Is as follow5: Contlngency reserve The contln8ency reserve has been created In Ilne wlth the charlty's pollcy to 8enerate sufflclent reseNes to cover three months runnlng costs comblned wlth staff redundancy costs. Restrlcted Income funds are those donated for use In a partlcular area or for speclflc purposes, the use of whlch Is restrlrted to that area or purpose. The dlfferent restrlcted fvnds operated by the charlty are as follows: Speclflc Cllent Support These are 8rants recelved from charltsble foundatlons and other sources to help Indlvldual cllents wlth partlcular expense5 In tlmes of severe hardshlp. Cltlzens Adv1 Face 2 Face Thls Is a lon8 term project to delfver debt advlce servlces on behalf of The Cltlzens Advlce Bureau In the Plymouth area. Sanctuary These funds are for the purpose of resettlement and tenancy support for Sanctuary tenants. Pa8e 22
Homemaker Southwest Notss to the Flnanclal Ststements for the Year Ended 31 March 2024 Trevl Sparks Thls grant has been provlded for the Sunflower Money project Is to provlde money advlce servlces to vulnerable women In the south west re81on. Penslons •nd other post r•tlrnment obll8atloni Penslon costs are Incurred by way of employer's deflned contrlbutlons to employee5, personal penslon schemes. The contrlbutlon rates are 3%, 6% or 8% of gross salary and costs are wholly char8ed to the 50FA In the year In whlch they are Incurred. Detalls of the costs and any outstandln8 amounts are shown In the notes to the account5. Flnandal Instruments Flnanclal assets and flnanclal Ilabllltles are reco8nlsed when the charlty becomes a party to the contractual provlslons of the Instrument. Flnanclal Ilabllltles and equlty Instruments are dasslfled ?ccordln8 to the substance of the contractual arran8ernents entered Into. An equlty Instrument Is any contract that evldences a re51dual Interest In the assets of the charlty after deductln8 all of its Ilabllltles. Recoqnltlon and measurnnxnt All flnandal assets and Ilabllltle5 are Inltlally measured at transactlon prlce (Includlng transactlon costs), except for those financlal asset5 classlfled as at falr value through profft or loss, whlch are Inltlally measured at falr value (whlch Is normally the transactlon prlce exdudln8 transactlon costs), unless the arrangement constltutes a flnancln8 transactlon. If an arran8ement con5tftute5 a flnanclng transactlon, the flnanclal asset or flnanclal Ilablllty Is measured at the present value of the future payments dlscounted at a market rate of Interest for a slmllar debt InstrumenL Flnanclal assets and Ilabllltles are onty offset In the statement of flnanclal p051tlon when, and only when there exlsts a le8ally enforceable rl8ht to set off the reco8nlsed amounts and the charlty Intends elther to settle on a net basls, or to reallse the asset and settle the Ilablllty slmultsneou5ty. Flnanclal assets are derecognlsed when and only when a) the contractual rights to the cash flows from the flnanclal asset explre or are settled, b) the charity transfers to another party substantlally all of the rlsks and rewards of ownership of the finandal asset, or c) the charltY* desplte havlng retalned some, but not all, signlflcant rlsks and rewards of ownershlp, has transferred control of the a55et to another party. Page 23
Hom•maker Southwest Notes to the Flnandal Statements for the Yr End•d 31 March 2024 Finandal Ilabllltles are derecognlsed Dnly when the obllgatlon speclfled In the contract Is dlscharged, cancelled or explres. Volunteffs The value of servlces provlded by volunteers Is not Incorporatsd Into these flnanclal statements. Further detall of the contrlbutlon made by volunteers can be found In the trustee's annual report. 3 Income frorn chirftabl• artlvltles Unr•rtrlct•d funds Total 2024 Totsl 2023 Restrlcted Re8lstered Provlders Devon Local Authorltle5 Other sources Face 2 Face 14,405 121,120 84,922 19,405 121,120 84,998 153,722 ,054 104,026 58,479 149,604 76 153,722 220,447 158,798 379,245 330,163 4 Investment Incorne Restrlrt•d Tot•1 Unrestrlct•d lundi funds funds Interest recelvable and slmllar Income; Interest recelvable on bank dep051ts 4,951 223 5,174 Total for 2024 4.951 223 5,174 Total for 2023 2,483 2,483 Pa8e 24
Homemaker Southwest Notes to the Flnanclal Statements for the Year End•d 31 March 2024 5 Exp•ndlture on tharltabl• actlvltles Retslct•d Total Unr•strfct•d funds funds funds Note Staff costs Allo&ited support costs Other support costs 138,922 24,253 19,684 138.598 43,014 6.953 277,520 67.267 26,637 Total for 2024 182.859 188,565 371,424 Total for 2023 149,467 201,L 350.467 In addltlon to the expendlture analysed above, there are also governance costs of £26,637 (2023 - £11,772) whlch relate dlrectly to charltable actlvltles. See note 6 for further detalls. 6 Anal15 of governance and support co Other wpport cojts Unrnstrlct fundi Total 2024 Total 2023 R•strlcted Audlt fee5 Audlt of the finandal statements 1,418 1,418 2,836 2,0(X) 7,290 14,511 1,320 1,980 7,526 946 Other fees pald to audltors Legal fees Marketln8 and publlclty 3,653 13,613 3,637 898 19.684 6,953 26,637 11,772 Page 25
Homemaker Southwest Notes to the Flnanclal Stst•ments for the Year Ended 31 March 2024 7 Net Incornln8loutioln8 resources Net Incomln8 resources for the year Include: 2024 2023 Audft fees 2,836 1,320 8 Trust••s r•rnuneratlon and •xp•nJes No trustees, nor any persons connected wlth them, have recelved any remuneratlon from the charlty durln8 the year. No trustees have recelved any relmbursed expenses from the charlty durln8 the year. 9 Staff costs The a88regate payroll costs were as follows: 2024 2023 Staff costs durln8 the year w•r•: Wa8es and salarles Soclal securlty costs Penslon costs 251,920 14,466 11,134 239,542 14,629 11,297 277,520 265,468 The monthly average number of persons {Includln8 senlor management / leadershlp team) employed by the charlty durlng the year expressed a5 full tlrne equlvalents was as follows: 2024 2023 Employees 12 12 No employee recelved emolurnents of more than £60,0 durln8 the year. 10 Taxatlon The charfty Is a re8lstered charlty and Is therefore exempt from taxatlon. Page 26
Hornemabkar Southwest Not•s to the Flnanclal Statem•nts for the Yr Ended 31 March 2024 IITan8lbl• flxed assets Fumlturn and equlprn•nt Totsl At l Aprll 2023 2,298 2,298 At 31 March 2024 2,298 2.298 Dopr•clatlon At l Aprll 2023 2,298 2,298 At 31 March 2024 2,298 2.298 N•t book v•lu• At 31 March 2024 At 31 March 2023 12 Debtors 2024 2023 Trade debtors Prepayments Other debtors 6,943 8,089 8,368 2,250 17.282 11,3CQ 13 Cash Ind cash equlvalents 2024 2023 Cash on hand Cash at bank 22 311,234 114 280,897 311,256 281,011 Pa8e 27
Homemaker Southwest Notss to the Ananclal Statement5 for the Year Ended 31 March 2024 14 CredltorL' amounts fallln8 du• wlthln one year 2024 2023 Trade credltor5 Othertsxatlon and soclal 5ecurlty Other credltors Accruals and deferred Income L556 5,409 15,171 9,620 3,090 5,415 8,235 11,134 31.756 27,874 15 Obllptlons und•r l•axs and hlr• purchase contracts Op•rntln8 l•aie commltrnents Total future mlnlmum lease payments under nonwcancellable operatlng leases are as follows: 2024 2023 Land and bulldlnp Wlthln one year Between one and flve years 9,000 7,694 16,694 16,694 25,694 Oth•r Wlthln one year 234 16 Commltments Penslon comrnltments The charlty operates a defined contrlbutlon penslon scheme. The penslon charge for the perlod represents contrlbutlons payable by the charlty to the Scheme and amounted to £11,134 (2023: £11,297). As at the balance sheet date penslon contrlbutlons payable of £1.127 (2023: £899) are Included wlthln other credftors. Page 28
Homornaker Southwest Not•5 to the Flnandal Statements for th• Year End•d 31 March 2024 17 Contlngent Ilabllftl Homemaker Southwest partlclaptes In the Penslons Trust's Growth Plan (the Plan) whlch Is a multl-employer penslon plan. The plan Is funded and Is not contrarted out of the State stheme. If an actuarlal valuatlon reveals a shortfall of assets compared to Ilabllltles, the Trustees must prepare a recovery plan settln8 Out steps to make up the shortfall. Followln8 a change In le8lsatlon In September 2005 there Is a potentlal debt on the employer that could be levled by the Trustees of the plan and The Penslons Act 2011 has more recently altered the deftnltlon of Serles 3 of the Growth Plan so the Ilablllty arlses to employers from membershlp of any Serles except Serfes 4. The debt becomes due In the event of the employer ceasln8 to partlclpate In the Plan or the Plan wlndlng up. The Growth Plan Is a 'la5t man standln¢' multemPlOyer scheme. Th15 means that If a wlthdrawln8 ernployer Is unable to pay Its debt on wlthdrawal, the Ilablllty Is shared amoungst the remalnlng employers. The partlclpatln8 employers are therefore, Jolntly and severally Ilablle forthe deflclt In the Growth Plan. Homemaker Southwest has been notlfled by the Penslons Trust of the estlmated employer debt wlthdrawal from the Plan based on the financlal posltlon of the Plan as at 30 September 2023 (most recent valuatlon avallable). As at that date the •stlmated employer debt for Homemaker Southwest wa5 £8,717 (2023: £10,829). To avold the potentlal debt crystalllslng Homemaker Southwest contlnue to contrlbute to the Serles 4 scheme provlded by the Penslon5 Trust. Page 29
Hom•maker Southwest Notes to the Flnandal Stst•m•nts for the Year Ended 31 March 2024 18 Funds Balanc• at l Aprll 2023 Balince at 31 March 2024 Incomlng Resources r•sourcei up•nd•d Transfers Unr•strlcted fun Unrestrfrtedfvnds Unre5trlcted Income fund Contln8ency reserve 97,359 140,500 244,748 (182,859) (27,006) 21,500 132,242 162,(XlO 237,859 244,748 1182,859) (5,506) 294,242 Restrlcted funds Probatlon rent spend 5pecffic cllent support Cltlzens Advlce Face 2 Face 223 {190) 33 2,507 2,507 24,071 153,798 (180,668) (7,707) (188,565} 2,799 2,707 Sanctuary Total r•gtrfcted funds 26,578 159,021 5,506 2,540 Total fundi 264.437 403,769 (371,424) 296.782 Balanea at l Aprll 2022 Balanc• It 31 March 2023 Incomlng Re8ourceJ r•sourceJ •xpended Transfe Unrestrf¢ted funth Unrestrlcted Income fund 43,111 140,500 204,425 1149,467) 1710) 97.359 140,51X) Contln8ency reseNe 183,611 204,425 (149,467) (710) 237,859 Pa8e 30
Homemaker Southwest Notes to the Flnanclal St4tsm•nts for the Year Ended 31 March 2024 Balanc• at l Aprll 2022 Balanc• at 31 March 2023 Incomlng Resources r•sourceg expended Transfers R•strfcted Speclflc cllent support atlzens Advlce Face 2 . Face Sanctuary Trevl Sparks Sunflower Money 2,507 2,507 47,618 1139 149,604 (173,151) (7,544) 24,071 405 20.000 (20,305) (201,000) 305 T¢Jtsl rertrlct•d funds 52,264 174,604 710 26,578 Totsl funds 235,875 379,029 (350,467) 264,437 19 An•tysls of net funds At l Aprll 2023 At 31 March 2024 C•sh flows Cash at bank and In hand 281,011 30,245 311,256 Net debt 281011 30,245 31L256 At l Aprll 2022 At 31 March 2023 C•sh flows Cash at bank and In hand 270,385 10,626 281,011 Net debt 270,385 10,626 281,011 Pa8e 31
Hornemaker Southwest Notes to the Flnandal Statements for the Year Ended 31 Marth 2024 20 Anatysls of net assets b•tw•en funds Totsl funds at 31 Marth 2021 Unrejtrlrtad funth Dedpwt•d Rertrlrted Current assets Current Ilabllltles 170,059 (16,317) 153,742 140,500 17,979 15,439) 328,538 (31,756) 296,782 Total net assets 140.5(X) 2,540 Total funds ReJtrlrt•d at 31 rch Unrestrlct•d funds DMl8nat•d fundi 1023 Current assets Current Ilabllltles 113,544 (14,012) 99,532 140,500 39,267 (10,074) 293,311 24,086) 269,225 Total net assets 140,500 29,193 21 Related party transactloni There were no related party transactlons In the year. Page 32