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← Home-Start Cymru For Families

2024-03-31-accounts

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REGISTERED COMPANY NUMBER: 05199118 (England and Wales) REGISTERED CHARITY NUMBER: 1105577

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2024

for Home-Start Cymru For Families

Haines Watts Wales LLP, Statutory Auditors 7 Neptune Court Vanguard Way Cardiff CF24 5PJ

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Home-Start Cymru For Families

Contents of the Financial Statements for the Year Ended 31 March 2024

Page
Report of the Trustees 1 to 5
Report of the Independent Auditors 6 to 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 25

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Home-Start Cymru For Families (Registered number: 05199118)

Report of the Trustees for the Year Ended 31 March 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Objectives and activities

Our objectives are: To safeguard, protect and preserve the good health, both mental and physical, of children and parents of

Principally but not exclusively within Wales and its environs.

The trustees have complied with their duty to have due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. The trustees expect that the organisation has sufficient resources to enable its continuation for the foreseeable future and consider it to be a going concern.

Home-Start Cymru is a young organisation built on the firm foundations of a long history of Home-Start support, and our vision is that:

Every parent in the communities we serve in Wales has the support they need to give their children the best start in life.

We believe that children need a happy and secure childhood and that parents play the key role in giving children a good start in life enabling them to achieve their full potential. Provided at an early stage, preventing escalation to crisis points our services are firmly rooted in the local communities within which we operate. Local staff and volunteers provide weekly support to families with young children in communities across Wales, and it is the relationship of trust that builds which is the key to long and lasting change. At our core we combine professional expertise with our network of well-trained volunteers, providing 1-2-1 emotional support and practical assistance, predominantly in the home. In addition, we provide a range of supplementary, more targeted services for specific communities or areas of need, as well as peer-peer support in group settings.

Referrals come via a range of other agencies, as well as self-referrals and health visitors and we work to empower families to strengthen relationships, increase confidence, improve mental health and well being, and reduce loneliness and isolation. Our support is most effective when well-integrated with other services for families in an area. Following a needs led assessment, support is co-designed with the family, and takes a number of forms, including strengthening parent-child attachment, establishing routines, managing child behaviour, child development, financial/household management, reducing the impacts of poverty, reducing conflict, engaging with other services and connecting with the local community.

Over the past year we are proud that we have continued to satisfy the requirements of all funding contracts and continue to have a strong working relationship with our local authority funders, other statutory partners, Trusts and Foundations and Corporate Partners.

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Home-Start Cymru For Families (Registered number: 05199118)

Report of the Trustees for the Year Ended 31 March 2024

Achievement and performance Charitable activities

It has been another challenging year as the impacts of the pandemic continue, alongside the deepening cost-of- living crisis. Demand for support has never been higher, pressure on other services and workforce challenges continue, and funding pressures have been felt across all of our services in Wales. Despite the challenges, Home-Start Cymru has made positive progress in delivering against the second year of our Hope@Home Strategy. We have continued to secure new contracts, build on existing relationships and have seen modest growth in services to end the year in a strong financial position.

We have continued to be agile, flexible and responsive through a period of ongoing uncertainty, ensuring that we reached families that needed us, through a blended package of support. In the 12-month period to the end of March 2024 we received a 25% increase in referrals, and through our 35+ projects in 17 local authority areas across Wales, we supported 1250 families (28% increase on the prior year), over 2,000 children with the support of over 150 dedicated volunteers.

Volunteer recruitment continues to remain increasingly challenging, reflecting a UK-wide trend. Despite this we have continued to reach out and provide life-changing support to families across our areas of responsibility within Wales, and we are working hard to make improvements and changes that will help us overcome these challenges going forward. We continue to engage with other volunteer organisations to share learning and best practice and have commenced the process for Investors in Volunteers accreditation. We have audited our whole volunteer offer and function and developed a responsive co-produced 3 year strategy.

Of particular note, this year has seen the accelerating impact of our policy work. We've spoken with a variety of Welsh Government and Senedd officials across the year to feed through the voices of the families we work with in Wales and to collaborate on furthering positive national development. During the year we piloted the self-assessment tool for the implementation of the NEST/NYTH framework and then successfully adopted the framework within our practice.

We worked with ACE Hub Wales (Adverse Childhood Experiences) to co-produce Home-Start Cymru's trauma-informed communities spotlight report, featuring insights and experiences from a range of key stakeholders.

Our Partnerships continue to build and strengthen across the Sector as we collaborate with those working across the third sector to create collective calls on behalf of families in Wales. We have regularly participated in third sector forums to share insights on the ground and work together to echo shared calls, including submitting joint responses to Welsh Government and Senedd committee consultations.

This year our partnership with the Maternal Mental Health Alliance commenced to develop and amplify campaign calls around perinatal mental health awareness and provision for women and families in Wales. We additionally continued to collaborate with the Bevan Foundation to make the case for a Welsh benefits system, embedding the voices of families to evidence reports.

We are committed to delivering services that reflect the needs of families living in the communities we serve and have been working hard to develop our practices and culture in order to become a truly inclusive charity. Our EDIF (Equality, Diversity, Inclusion and Fairness) Working Group advises leadership on how to improve upon and celebrate equality, diversity and inclusion. With guidance and input from colleagues, we have undertaken the following as a part of our journey in this space. This year we accelerated work on the creation of a three-year EDIF Strategy, co-produced by staff and trustees and reflective of the views and insights of families.

We continued to receive funding from a number of local authorities and other statutory bodies including Health Boards as well as the National Lottery Community Fund, Children in Need and a range of supportive Trusts and foundations and Corporate sponsors. We have continued our focus on perinatal mental health, Neuro Diversity Support, Financial maximization and prevention of Homelessness, Refugee and Asylum support and we saw our Dad Matters programme grow and strengthen with new partnership with Health Boards in Wales.

Our support included:

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Home-Start Cymru For Families (Registered number: 05199118)

Report of the Trustees

for the Year Ended 31 March 2024

Of those parents supported, the following improvements were reported: Of those parents supported, the following improvements were reported:
Children's Learning and Development 88%
Parental Wellbeing 92%
Children's mental health 69%
Managing the Household Budget 76%
Reduction of stress 79%

We would like to thank our funders for enabling us to provide the support.

During the year we were awarded our first full Home-Start UK Quality Assurance accreditation demonstrating our commitment and importance of Quality throughout all of the organisation.

We are incredibly proud of our achievements this year, during a period of significant internal and external change, and proud of our dedicated team of staff, volunteers and Trustees.

Financial review

Results

The net incoming unrestricted surplus for the year ended 31 March 2024 amounted to £8,605 (2023 restated: (£87,286) deficit). The surplus increased the general unrestricted reserves to £320,591 from £316,757 (restated).

The total restricted incoming resources amounted to £1,324,792 (2023 restated: £1,262,375). Expenditure from restricted reserves of £1,375,691 (2023 restated: £1,443,742) resulted in a net restricted deficit of £50,899 (2023 restated deficit £181,267).

AII of the incoming resources have been applied to further the principal objects of the charity. Families First funding for the year continued to be received from those local authorities with whom the charity has a service level agreement. This includes Rhondda Cynon Taff County Borough Council, Powys County Council and Cardiff County Council. Additional Families First funding was received from Merthyr Tydfil County Borough Council and Swansea. The charity received a Supporting People Grant from Caerphilly County Borough Council. The charity also receives funding from the National Lottery Community Fund and Children in Need and a number of other grants from several significant trusts and foundations.

The trustees recognise the need to hold reserves to help to continue the principal objects of the charity should the level of funding fall. The level of unrestricted reserves at the balance sheet date amounted to £346,969 (2023 restated: £364,174), with free reserves (unrestricted funds less fixed assets and designated funds) being £320,591 (2023:£316,757) which is equivalent to just over three months operating costs. The reserves policy has been reviewed following the merger, meeting the working capital requirements of the charity. The balance on the restricted funds was £87,374 (2023 restated: £112,464).

Financial controls

Financial policies and our Reserve policies were reviewed and updated. Budgets were consolidated and controls established to monitor expenditure and 3 year forecasts produced together with cashflows.

Plans for future periods

Looking to the future, our strategy is clear. We are ready to widen our scope and deepen our influence, channeling our advocacy to significantly shape the policies that underpin societal welfare and improve the lives of the families we connect with. It is our commitment to ensure that the voices of the families we champion are influential in the policymaking process, ensuring that their needs and aspirations drive legislative change. As we get ready to celebrate our five-year anniversary in July next year, we reaffirm our commitment to every family that trusts Home-Start Cymru as their ally. Our promise remains robust-to be the consistent force that supports, and propels each family toward not merely surviving, but thriving. Our collective vision is ambitious and achievable, to drive a future where families across Wales do more than merely manage, they thrive dynamically, supported by a network that values resilience and fosters connections. At Home-Start Cymru, we are more than a support system; we are a charity dedicated to transformative care, one family at a time.

To ensure ongoing stability and sustainability we continue to diversify our funding and our funding strategy for 23-24 has been updated to underpin the ambitions of our Hope@Home strategy.

Structure, governance and management

Governing document

The organisation is a charitable company limited by guarantee and as such is governed by a Memorandum and Articles of Association. The company was incorporated on 6 August 2004 under the Companies Act 1985, registration number 05199118 and registered as a charity on 20 August 2004, registration number 1105577.

The charity was renamed Home-Start Cymru for Families on the 13 June 2019 prior to the merger on 1 July 2019.

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Home-Start Cymru For Families (Registered number: 05199118)

Report of the Trustees for the Year Ended 31 March 2024

Structure, governance and management

Recruitment and appointment of new trustees

Trustees are recruited from members of the communities we serve throughout the year. Members of the organisation will vote in any individual wishing to become a Director at the Annual General Meetings. Individuals can be invited to attend a trustee meeting at any time with a view to becoming a trustee. If required, they can be co-opted onto the board until being voted in at the next Annual General Meeting.

AII trustees will sign an agreement to act on behalf of the organisation. Trustees will receive an induction with the CEO, Head of Finance, Operations, HR and Volunteer team, receiving support from Home-Start UK and are given the opportunity to attend regular training.

Unless otherwise determined by the charity in a General Meeting the number of the trustees shall be not less than 5 and not more than 13. The Board of Directors will be made up of representatives from each operating region and thematic portfolio holders. Regional representatives aim to be organised as follows, Aneurin Bevan three, South East - three, West - two, North and Mid - two. If the prescribed number of regional representatives is not in place then the Board will look to fill gaps in the representation through co-options during the year, provided that co-opted members are not in the majority.

Organisational structure

The organisation is managed by a voluntary trustee board whose role is to set the overall objectives for Home- Start Cymru and to ensure that the organisation is keeping within its legal and moral obligations. The trustee board holds the ultimate power and responsibility for Home-Start Cymru.

Key management personnel

Key management personnel are defined as the charity's senior management team, which comprises of the Chief Executive, Head of Finance & HR, Finance Manager, Head of Buisness Development and Head of Operations together with its Trustees. Trustees do not receive any remuneration for their role, although they are entitled to claim expenses.

Key management personnel pay has been benchmarked against sector averages with the support of an external review carried out by Darwin Gray. The board of trustees have the discretion to apply spot salaries where they believe the skills required for a particular post warrants a higher level of remuneration.

Reference and administrative details Registered Company number 05199118 (England and Wales)

Registered Charity number 1105577

Registered office Rainbow House 1 Newent Road St Mellons Cardiff CF3 0BL

Trustees Mrs B I Cluer Ms H C Howson Ms C A Ravenscroft Ms R A Sinfield Ms S Taylor (appointed 22.8.23) Ms A Williams Ms C A Williams L P J Maguire (resigned 31.7.23) J P Richards

Auditors

Haines Watts Wales LLP, Statutory Auditors 7 Neptune Court Vanguard Way Cardiff CF24 5PJ

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Home-Start Cymru For Families (Registered number: 05199118)

Report of the Trustees

for the Year Ended 31 March 2024

Reference and administrative details Advisers Bankers HSBC 1 Centenary Square Birmingham B1 1HQ

Company secretary Ms B Webber (resigned 28.04.23) Ms J E Drummond

Key Management Personal

Bethan Webber - resigned 28/04/2023 Jayne Drummond Cathy Groves - resigned 15/12/2023 Iestyn Evans Liam Maguire Gaynor Davies

Statement of trustees' responsibilities

The trustees (who are also the directors of Home-Start Cymru For Families for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and 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 those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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:

Auditors

The auditors, Haines Watts Wales LLP, Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Serr 83883C20BOADA19.we eeeeeee neces J P Richards - Trustee

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Report of the Independent Auditors to the Members of Home-Start Cymru For Families

Opinion

We have audited the financial statements of Home-Start Cymru For Families (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Auditors' 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 the charitable company'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.

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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 Report of the Trustees.

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Report of the Independent Auditors to the Members of Home-Start Cymru For Families

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, 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.

Our 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our planning procedures identify the legal and regulatory frameworks applicable to the operations and financial statements of the group. These are reviewed internally with the audit team including relevant industry experience and expectations as well as externally with the client management. The key laws and regulations we considered in this context were the UK Companies ACT 2006, Charities Act 2011 and relevant tax legislation.

Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities, including fraud and adjust our testing accordingly. Our audit procedures include:

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional misrepresentation, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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 auditors' 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.

Victoria Carter (Senior Statutory Auditor) for and on behalf of Haines Watts Wales LLP, Statutory Auditors 7 Neptune Court Vanguard Way Cardiff CF24 5PJ

12 November 2024 Date: .............................................

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Home-Start Cymru For Families

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2024

Notes
Income and endowments from
Donations and legacies
2
Charitable activities
5
Charitable Activity
Other trading activities
3
Investment income
4
Total
Expenditure on
Charitable activities
6
Charitable Activity
NET INCOME/(EXPENDITURE)
Transfers between funds
19
Other recognised gains/(losses)
Actuarial gains/(losses) on defined benefit
schemes
Net movement in funds
Reconciliation of funds
Total funds brought forward
As previously reported
Prior year adjustment
12
As restated
Total funds carried forward		 Unrestricted
funds
£
19,222
150,792
519
5,839
176,372
167,767
8,605
(25,809)
(1)
(17,205)
515,226
(151,052)
364,174
346,969		 Restricted
funds
£
-
1,324,792
-
-
1,324,792
1,375,691
(50,899)
25,809
-
(25,090)
199,248
(86,784)
112,464
87,374		 2024
Total
funds

£
19,222
1,475,584
519
5,839
1,501,164
1,543,458
(42,294)
-
(1)
(42,295)
714,474
(237,836)
476,638
434,343		 2023
Total
funds
as restated
£
33,241
1,264,376
-
320
1,297,937
1,566,590
(268,653)
(23,738)
-
(292,391)
769,029
-
769,029
476,638

The notes form part of these financial statements

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Home-Start Cymru For Families (Registered number: 05199118)

Balance Sheet

31 March 2024

2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
as restated
Notes £ £ £ £
Current assets
Debtors 14 104,303 - 104,303 65,143
Cash at bank 276,423 169,048 445,471 750,276
Creditors 380,726 169,048 549,774 815,419
Amounts falling due within one year 15 (32,802) (81,674) (114,476) (337,905)
Net current assets 347,924 87,374 435,298 477,514
Total assets less current liabilities 347,924 87,374 435,298 477,514
Provisions for liabilities 18 (955) - (955) (876)
NET ASSETS 346,969 87,374 434,343 476,638
Funds 19
Unrestricted funds 346,969 364,174
Restricted funds 87,374 112,464
Total funds 434,343 476,638

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

T ents were approved by the Board of Trustees and authorised for issue on .. ....... and were signed on its behalf by:

............................................. reer BIBB3CAQBOANIIQ ceceeeeeeees J P Richards - Trustee

The notes form part of these financial statements

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Home-Start Cymru For Families

Cash Flow Statement for the Year Ended 31 March 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing activities
Cash flows from financing activities
Loan repayments in year
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
a
£
(286,759)
(70)
(286,829)
5,761
5,761
(23,737)
(23,737)
(304,805)
750,276
445,471		 2023
s restated
£
12,200
-
12,200
320
320
-
-
12,520
737,756
750,276

The notes form part of these financial statements

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Home-Start Cymru For Families

Notes to the Cash Flow Statement for the Year Ended 31 March 2024

  1. Reconciliation of net expenditure to net cash flow from operating activities
2024 2023
as restated
£ £
Net expenditure for the reporting period (as per the Statement of
Financial Activities) (42,294) (268,653)
Adjustments for:
Depreciation charges - 376
Interest received (5,761) (320)
Interest paid 70 -
(Increase)/decrease in debtors (39,160) 39,790
(Decrease)/increase in creditors (199,692) 241,007
Difference between pension charge and cash contributions 78 -
Net cash (used in)/provided by operations (286,759) 12,200
Analysis of changes in net funds
Net cash At 1.4.23
£		 Cash flow
£		 At 31.3.24
£
Cash at bank 750,276 (304,805) 445,471
750,276 (304,805) 445,471
Debt
Debts falling due within 1 year (23,738) 23,738 -
(23,738) 23,738 -
Total 726,538 (281,067) 445,471
  1. Analysis of changes in net funds

The notes form part of these financial statements

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Home-Start Cymru For Families

Notes to the Financial Statements for the Year Ended 31 March 2024

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Income from grants are recognised when the charity is entitled 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.

Interest on funds is included when receivable and the amount can be measured reliably by the charity; this is normal upon notification of the interest paid or payable by the bank.

Expenditure

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

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 10% on cost Computer equipment - 33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

The charity's policy is to capitalise individual assets with a cost greater than £1,000.

Impairment of assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

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continued...

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Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

1. Accounting policies - continued

Taxation

As a registered charity Home-start Cymru for Families is entitles to the exemption from taxation in respect of income and capital gains received with section 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent these are applied to its charitable objects purpose only.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2. Donations and legacies

Donations
Gift aid
Other Income
3.
Other trading activities
Support Services
4.
Investment income
Deposit account interest		 2024
as
£
18,311
111
800
19,222
2024
as
£
519
2024
as
£
5,839		 2023
restated
£
30,167
-
3,074
33,241
2023
restated
£
-
2023
restated
£
320

Page 13

continued...

Docusign�Envelope�ID:�8C34D456-9916-4EB9-B5C9-883D8EE6C7C0

Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

5. Income from charitable activities

Activity
Grants
Charitable Activity
Grants received, included in the above, are as follows:
Anglesey Council
Children In Need Gwent
Cwm Taf Health Board
Cwm Taf ND
Families First
Awards for All
GAVO RIF Grant
Harthealth Foundation
Henry Smith
HSUK
Helping Working Families
Julian Hodge Foundation
Lyndal Tree Foundation
Oakdale Trust
Powys County Council
Rhyl Town Council
Steve Morgan Foundation
Supporting People
University Health Board
Dad Matters Cymru
Dad Matters Cwm Taf
Dutchess of Westminster Fund
Dulverton Trust
Children in Need - Caerphilly
Merthyr Tudfil Council
Moondance Foundation
Nation of Sanctuary
Newport Council
Save the Children
Society of the Holy Child Jesus
Swansea City Council
Waterloo Foundation
WCVA TSRF 3
Garfield Weston
Gwynt Y Mor
Albert Goubay
Fathers Designated Support
National Grid - Warm Homes
WCVA		 2024
£
1,475,584
2024
£
30,000
22,555
-
26,299
343,788
-
-
-
60,000
53,750
132,165
-
-
-
80,000
2,000
-
188,216
20,151
-
15,892
-
9,829
10,000
29,580
151,052
50,036
-
-
-
35,000
12,500
-
50,000
29,007
90,000
25,000
8,750
14
1,475,584		 2023
as restated
£
1,264,376
2023
as restated
£
32,953
35,944
46,502
20,991
505,684
9,950
8,010
1,100
60,000
9,000
67,740
10,000
2,000
2,000
79,500
2,000
20,000
108,672
20,151
32,167
21,000
5,000
21,494
5,833
29,000
-
15,318
24,971
2,400
15,000
35,000
2,500
12,496
-
-
-
-
-
-
1,264,376

Page 14

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Docusign�Envelope�ID:�8C34D456-9916-4EB9-B5C9-883D8EE6C7C0

Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

6. Charitable activities costs

==> picture [441 x 118] intentionally omitted <==

----- Start of picture text -----
|||||| |---|---|---|---|---| |Support| |Direct|costs (see| |Costs|note 7)|Totals| |£|£|£| |Charitable Activity|1,477,042|66,416|1,543,458| |7.|Support costs| |Governance| |Management|Finance|costs|Totals| |£|£|£|£| |Charitable Activity|78|27,911|38,427|66,416|

----- End of picture text -----

8. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

==> picture [418 x 58] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |as restated| |£|£| |Auditors' remuneration|8,868|6,900| |Other non-audit services|1,000|979| |Depreciation - owned assets|-|376|

----- End of picture text -----

9. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

Trustee expenses in the year were £10 (2023: £Nil).

10. Staff costs

==> picture [418 x 77] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |as restated| |£|£| |Wages and salaries|1,101,555|1,116,731| |Social security costs|84,199|93,040| |Other pension costs|55,626|56,871| |1,241,380|1,266,642|

----- End of picture text -----

The average monthly number of employees during the year was as follows:

==> picture [418 x 27] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |as restated| |Total|50|52|

----- End of picture text -----

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

==> picture [418 x 28] intentionally omitted <==

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |as restated| |£60,001 - £70,000|1|1|

----- End of picture text -----

Key Management Personnel

The key management personnel of the charity comprise of the trustees, the Chief Executive, Head of Finance and HR, Finance Manager, Head of Business Development and Head of Operations. The total employee benefits of the key management personnel of the charity were £221,800 (2023: £253,480).

Page 15

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Docusign�Envelope�ID:�8C34D456-9916-4EB9-B5C9-883D8EE6C7C0

Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

11. Comparatives for the statement of financial activities

Income and endowments from
Donations and legacies
Charitable activities
Charitable Activity
Investment income
Total
Expenditure on
Charitable activities
Charitable Activity
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
33,241
2,000
321
35,562
122,848
(87,286)
-
(87,286)
451,460
364,174		 Restricted
funds

£
-
1,262,376
(1)
1,262,375
1,443,742
(181,367)
(23,738)
(205,105)
317,569
112,464		 Total
funds
as restated
£
33,241
1,264,376
320
1,297,937
1,566,590
(268,653)
(23,738)
(292,391)
769,029
476,638

12. Prior year adjustment

A prior year adjustment has been included in these financial statement following a review of historic grant documentation. This identified £23,757 which was a loan repaid in 2024 and £214,097 of income which is now treated as deferred income in the 2023 figures in line with the grant conditions.

13. Tangible fixed assets

Fixtures
and
Computer
fittings
equipment
£
£
Cost
At 1 April 2023 and 31 March 2024
24,639
4,892
Depreciation
At 1 April 2023 and 31 March 2024
24,639
4,892
Net book value
At 31 March 2024
-
-
At 31 March 2023
-
-		 Totals
£
29,531
29,531
-
-

Page 16

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Docusign�Envelope�ID:�8C34D456-9916-4EB9-B5C9-883D8EE6C7C0

Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

14. Debtors: amounts falling due within one year

2024
a
£
Trade debtors
104,303
15.
Creditors: amounts falling due within one year
2024
a
£
Other loans (see note 16)
-
Trade creditors
18,786
Social security and other taxes
20,511
Other creditors
8,243
Deferred Income
57,936
Accrued expenses
9,000
114,476
16.
Loans
An analysis of the maturity of loans is given below:
2024
a
£
Amounts falling due within one year on demand:
Other loans
-
17.
Leasing agreements
Minimum lease payments under non-cancellable operating leases fall due as follows:
2024
a
£
Within one year
4,428
Between one and five years
4,797
9,225
18.
Provisions for liabilities
2024
a
£
Defined Benefit Pension
955		 2023
s restated
£
65,143
2023
s restated
£
23,738
35,555
20,848
9,611
214,098
34,055
337,905
2023
s restated
£
23,738
2023
s restated
£
7,686
891
8,577
2023
s restated
£
876

Page 17

continued...

Docusign�Envelope�ID:�8C34D456-9916-4EB9-B5C9-883D8EE6C7C0

Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

19.
Movement in funds
Unrestricted funds
General fund
Designated Fund -
Moondance Foundation
Designated Fund- Service
Delivery Continuation
Reserve
Restricted funds
Tesco Bag for Life
Anglesey Council
Children in Need -
Caephilly
Children in Need -
Denbingshire
Powys County Council
Virgin Money
Rotary
Ty Hapus
WCVA - TSRF 2
WCVA - TSRF 3
Helping Working Families
Denbigshire Foyer
Supporting People
Cwm Taf Health Board
Dr Dewi Davies
Home-Start UK - Pears
R&R Fund
Rhyl Town Council
Waterloo Foundation
Awards for All
Harthealth Foundation
Home-Start UK -
Volunteering Futures
University Health Board
Dad Matters Cwm Taf
Dutchess of Westminster
Fund
Dulverston Trust
Nation of Sanctuary
Newport Participatory
Budget
Society of the Holy Child
Jesus
Swansea County Council
Fathers Designated
Support
Garfield Weston
Foundation
WCVA
TOTAL FUNDS		 Prior
year
At 1.4.23
adjustment
£
£
316,757
-
151,052
(151,052)
47,417
-
515,226
(151,052)
873
-
12,893
-
2,253
(4,167)
30,285
(22,555)
13,163
-
2,000
-
3,189
-
1,509
-
-
(23,738)
7,097
-
-
-
579
-
5,430
-
17,956
-
4,007
-
1
-
4,000
-
14,094
(12,500)
6,214
-
1,100
-
2,725
-
813
-
11,175
-
5,000
-
9,910
(7,165)
23,385
(16,659)
8,649
-
3,328
-
7,620
-
-
-
-
-
-
-
199,248
(86,784)
714,474
(237,836)		 Net
movement
in funds
£
8,604
-
-
8,604
-
(12,893)
(157)
(7,730)
(13,163)
-
(134)
-
-
(7,097)
3,744
(376)
-
(9,465)
(4,007)
-
(4,000)
(1,594)
(5,386)
(1,100)
(1,650)
3,209
(11,175)
(5,000)
(2,745)
11,034
(8,649)
(3,328)
(7,620)
13,369
25,000
14
(50,899)
(42,295)		 Transfers
between
funds
£
(4,770)
-
(21,039)
(25,809)
-
-
2,071
-
-
-
-
-
23,738
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
25,809
-		 At
31.3.24
£
320,591
-
26,378
346,969
873
-
-
-
-
2,000
3,055
1,509
-
-
3,744
203
5,430
8,491
-
1
-
-
828
-
1,075
4,022
-
-
-
17,760
-
-
-
13,369
25,000
14
87,374
434,343

Page 18

continued...

Docusign�Envelope�ID:�8C34D456-9916-4EB9-B5C9-883D8EE6C7C0

Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

19. Movement in funds - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund - Moondance Foundation
Restricted funds
Anglesey Council
Children in Need - Caephilly
Children in Need - Denbingshire
Powys County Council
Gwynt Y Mor
Rotary
WCVA - TSRF 3
Helping Working Families
Denbigshire Foyer
Supporting People
Cwm Taf Health Board
Dr Dewi Davies
Home-Start UK Big Hopes Big Futures
Home-Start UK - Pears R&R Fund
Rhyl Town Council
Waterloo Foundation
Cwm Taf ND
Families First
Awards for All
Harthealth Foundation
Henry Smith
Home-Start UK - Volunteering Futures
University Health Board
Dad Matters Cwm Taf
Dutchess of Westminster Fund
Dulverston Trust
Merthyr Tydfil Counry Borough Council
Nation of Sanctuary
Newport Participatory Budget
Society of the Holy Child Jesus
Swansea County Council
Albert Gubay
Fathers Designated Support
National Grid - Warm Homes
Garfield Weston Foundation
WCVA
TOTAL FUNDS		 Incoming
resources
£
25,320
151,052
176,372
30,000
10,000
22,555
80,000
29,007
-
-
132,165
-
188,216
-
-
33,750
20,000
2,000
12,500
26,299
343,788
-
-
60,000
-
20,151
16,152
-
9,829
29,580
50,036
-
-
35,000
90,000
25,000
8,750
50,000
14
1,324,792
1,501,164		 Resources
expended
£
(16,715)
(151,052)
(167,767)
(42,893)
(10,157)
(30,285)
(93,163)
(29,007)
(134)
(7,097)
(128,421)
(376)
(188,216)
(9,465)
(4,007)
(33,750)
(20,000)
(6,000)
(14,094)
(26,299)
(343,788)
(5,386)
(1,100)
(60,000)
(1,650)
(16,942)
(27,327)
(5,000)
(12,574)
(29,580)
(39,002)
(8,649)
(3,328)
(42,620)
(90,000)
(11,631)
(8,750)
(25,000)
-
(1,375,691)
(1,543,458)		 Gains and
losses
£
(1)
-
(1)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1)		 Movement
in funds
£
8,604
-
8,604
(12,893)
(157)
(7,730)
(13,163)
-
(134)
(7,097)
3,744
(376)
-
(9,465)
(4,007)
-
-
(4,000)
(1,594)
-
-
(5,386)
(1,100)
-
(1,650)
3,209
(11,175)
(5,000)
(2,745)
-
11,034
(8,649)
(3,328)
(7,620)
-
13,369
-
25,000
14
(50,899)
(42,295)

Page 19

continued...

Docusign�Envelope�ID:�8C34D456-9916-4EB9-B5C9-883D8EE6C7C0

Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

19. Movement in funds - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Designated Fund - Moondance Foundation
Designated Fund - Garfield Weston
Foundation
Designated Fund- Service Delivery
Continuation Reserve
Restricted funds
Tesco Bag for Life
Anglesey Council
Children in Need - Caephilly
Children in Need - Denbingshire
Powys County Council
Virgin Money
Gwynt Y Mor
Rotary
Tudor Trust
Ty Hapus
WCVA - TSRF 2
WCVA - TSRF 3
Helping Working Families
Denbigshire Foyer
Supporting People
Cwm Taf Health Board
Dr Dewi Davies
Home-Start UK Big Hopes Big Futures
Home-Start UK- John Lewis Super
Charged Communities
Home-Start UK - KGJ Foundation
Home-Start UK - Pears R&R Fund
Pembrokeshire County Borough Council
Rhyl Town Council
Waterloo Foundation
Awards for All
Harthealth Foundation
Home-Start UK - Volunteering Futures
University Health Board
Dad Matters Cwm Taf
Dutchess of Westminster Fund
Dulverston Trust
Nation of Sanctuary
Newport Participatory Budget
Society of the Holy Child Jesus
Swansea County Council
TOTAL FUNDS		 Net
movement
At 1.4.22
in funds
£
£
307,919
56,255
93,541
(93,541)
50,000
(50,000)
-
-
451,460
(87,286)
873
-
15,992
(3,099)
2,172
(4,086)
11,319
(3,589)
20,529
(7,366)
2,000
-
26,687
(26,687)
3,602
(413)
14,810
(14,810)
1,509
-
41,493
(41,494)
37,489
(30,392)
21,516
(21,516)
971
(392)
5,000
430
22,136
(4,180)
5,000
(993)
14,050
(14,050)
646
(646)
1,000
(1,000)
4,636
(4,635)
47,139
(47,139)
2,000
2,000
15,000
(13,406)
-
6,214
-
1,100
-
2,725
-
813
-
11,175
-
5,000
-
2,746
-
6,726
-
8,649
-
3,328
-
7,620
317,569
(181,367)
769,029
(268,653)		 Transfers
between
funds
£
(47,417)
-
-
47,417
-
-
-
-
-
-
-
-
-
-
-
(23,738)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(23,738)
(23,738)		 At
31.3.23
£
316,757
-
-
47,417
364,174
873
12,893
(1,914)
7,730
13,163
2,000
-
3,189
-
1,509
(23,739)
7,097
-
579
5,430
17,956
4,007
-
-
-
1
-
4,000
1,594
6,214
1,100
2,725
813
11,175
5,000
2,746
6,726
8,649
3,328
7,620
112,464
476,638

Page 20

continued...

Docusign�Envelope�ID:�8C34D456-9916-4EB9-B5C9-883D8EE6C7C0

Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

19. Movement in funds - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund - Moondance Foundation
Designated Fund - Garfield Weston
Foundation
Restricted funds
Anglesey Council
Children in Need - Caephilly
Children in Need - Denbingshire
Powys County Council
Gwynt Y Mor
Rotary
Tudor Trust
WCVA - TSRF 2
WCVA - TSRF 3
Helping Working Families
Denbigshire Foyer
Supporting People
Cwm Taf Health Board
Dr Dewi Davies
Home-Start UK Big Hopes Big Futures
Home-Start UK- John Lewis Super
Charged Communities
Home-Start UK - KGJ Foundation
Home-Start UK - Pears R&R Fund
Pembrokeshire County Borough Council
Rhyl Town Council
Waterloo Foundation
Cwm Taf ND
Families First
Awards for All
GAVO RIF Grant
Harthealth Foundation
Henry Smith
Home-Start UK - Volunteering Futures
Home-Start UK - Warm Friendly Spaces
Julian Hodge Foundation
Lyndal Tree Foundation
University Health Board
Dad Matters Cymru
Dad Matters Cwm Taf
Dutchess of Westminster Fund
Dulverston Trust
Merthyr Tydfil Counry Borough Council
Nation of Sanctuary
Newport Council
Newport Participatory Budget
Save the Children
Society of the Holy Child Jesus
Swansea County Council
Steve Morgan Foundation
TOTAL FUNDS		 Incoming
resources
£
35,562
-
-
35,562
32,953
5,833
35,944
79,500
-
-
-
(1)
12,496
67,740
-
108,672
46,502
-
-
-
3,000
-
-
2,000
2,500
20,991
505,684
9,950
8,010
1,100
60,000
5,000
1,000
10,000
2,000
20,151
32,167
21,000
5,000
21,494
29,000
15,318
14,971
10,000
2,400
15,000
35,000
20,000
1,262,375
1,297,937		 Resources
expended
£
20,693
(93,541)
(50,000)
(122,848)
(36,052)
(9,919)
(39,533)
(86,866)
(26,687)
(413)
(14,810)
(41,493)
(42,888)
(89,256)
(392)
(108,242)
(50,682)
(993)
(14,050)
(646)
(4,000)
(4,635)
(47,139)
-
(15,906)
(20,991)
(505,684)
(3,736)
(8,010)
-
(60,000)
(2,275)
(1,000)
(10,000)
(2,000)
(19,338)
(32,167)
(9,825)
-
(18,748)
(29,000)
(8,592)
(14,971)
(1,351)
(2,400)
(11,672)
(27,380)
(20,000)
(1,443,742)
(1,566,590)		 Movement
in funds
£
56,255
(93,541)
(50,000)
(87,286)
(3,099)
(4,086)
(3,589)
(7,366)
(26,687)
(413)
(14,810)
(41,494)
(30,392)
(21,516)
(392)
430
(4,180)
(993)
(14,050)
(646)
(1,000)
(4,635)
(47,139)
2,000
(13,406)
-
-
6,214
-
1,100
-
2,725
-
-
-
813
-
11,175
5,000
2,746
-
6,726
-
8,649
-
3,328
7,620
-
(181,367)
(268,653)

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Docusign�Envelope�ID:�8C34D456-9916-4EB9-B5C9-883D8EE6C7C0

Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

19. Movement in funds - continued

Restricted funds

Tesco Bag for Life - This funding is to teach cooking and provide necessary resources for families in Carmarthenshire. Groups sessions, events and 1 to 1 home sessions have taken place, including training certificates. The aim is to promote health eating in parents and children.

Anglesey Council - This is for family support delivered by trained volunteers to Anglesey families.

Children in Need - Caerphilly- This funding is to target disadvantaged pre-school children in Caerphilly, working with each child, alongside their parents/carers, to improve their emotional and social wellbeing.

Children in Need - Denbighshire- This funding is to deliver home visiting support to referred families in Denbighshire.

Powys County Council - Family First funding to deliver family support in Powys.

Virgin Money - This project is funded by the Virgin Money Foundation, Heart of the Community Fund to run a weekly Stay and Play Session for families in the south of Cardiff.

Rotary - This funding is for family activities and crisis support for families.

Ty Hapus - This project is funded by the Nationwide Community Fund for partnership working with Wales Restorative Approaches Partnership and Cadvwn Housing Association.

WCVA TSRF 3 - This grant was awarded by the Welsh Government Third Sector Resilience Fund Phase 3 to fund a Statutory Funding Officer post and website development.

Denbighshire Foyer - This is a grant to buy household equipment for families in Denbighshire.

Supporting People - Floating housing related support to families within their home or supported accommodation. The service offers early intervention and prevention support as well as assistance to those in crisis situations.

Cwm Taf Health Board - a local Health Board grant to provide support to families in greatest need locally in the Merthyr Tydfil and Rhondda Cynon Taf areas

Dr Dewi Davies - This funding was awarded specifically to support staff and volunteer costs in a number of dedicated communities in the Carmarthenshire area.

Home-Start UK - Pears R&R Fund- This funding is for a Project Officer to oversee and implement a "blended" service of online and face-to-face group work across South East Wales targeting vulnerable cohorts and enabling families to reconnect with their communities and peers.

Rhyl Town Council - This grant is a contribution towards the delivery of support services in Rhyl.

Waterloo Foundation - This grant is solely for our work improving early years development in Blaenau Gwent over a two year period.

Families First - A home visiting service of volunteers offering confidential emotional support to families across Wales.

Awards for All - this delivers bespoke training to volunteers and families.

Hartsheath Foundation- Restricted fund for families in the Conwy, Denbighshire Flintshire, Gwynedd and Wrexham areas

Home-Start UK - Volunteering Futures - Volunteering futures grants.

University Health Board - This project has a dedicated member of staff to support families who have a child who has been accepted onto the Neurodevelopmental Pathway.

Dad Matters Cwm Taf - Supporting dads with children during the perinatal phase, we encourage attachment and bonding and the building of healthy relationships with newboms.

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Docusign�Envelope�ID:�8C34D456-9916-4EB9-B5C9-883D8EE6C7C0

Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

19. Movement in funds - continued

Restricted funds - continued

Duchess of Westminster Fund - Restricted funds for support for families to give children in Denbigh, Ruthin and Llangollen areas the best start in life.

Dulverton Trust- This grant is to support the volunteer team, recruiting and working with volunteers.

Nation of Sanctuary- Restricted funds to support Refugee and Asylum seeking families.

Newport Council Participatory - Restricted funds to support families in Newport

Swansea City Council - Children & Communities Grant to ease the pressure on, and reduce waiting times for, vital early help and support services in support of children, young people and parents in response to the pandemic.

Helping Working Families - This project is funded by the Big Lottery Community Fund and delivers a range of community led, co-produced activities with families.

Home-Start UK Big Hopes Big Futures - this grant specifically supports families with at least one pre-school aged child who requires school readiness support.

Henry Smith - This fund contributes to the delivery of core service and other projects.

Merthyr Tydfil County Borough Council - This is Families First funding for parent peer support groups.

Society of the Holy Child Jesus - Restricted funds for families for 1-1 support.

Albert Gubay - This grant helps us expand our volunteer led core service in deprived areas of North Wales. The service supports families with children under 11 to improve their wellbeing, thier children's learning and development, thier family relationships and resilience.

Fathers Designated Support Cardiff and Vale Healthboard - Project to support Dads.

National Grid - This grant enables us to provide vital warm packs to households over the winter. e.g blankets, heaters, radiator foil etc.

Gwynt Y Mor Wind Farm - The grant enabled us to offer 1:1 home based support for families accross Rhyl and Prestatyn, to improve their mental health and family wellbeing.

Garfield Weston Foundation - The grant provided a three year contribution to organisational salaries and running costs

Community Connectors - Cwm Taf ND - The grant enabled us to employ a Complementary Support Worker to improve children’s wellbeing via pre-diagnostic advice and support for families on neurodevelopmental waiting lists.

Volunteering Wales Grant -WVCA - The grant enabled us to pilot a co-productive approach to increasing and enhancing volunteering roles across Home-Start Cymru

Community Matters Fund- National Grid - This grant enabled us to provide vital warm packs to households over the winter e.g. blankets, heaters, radiator foil

Designated Funds

Moondance Foundation - This award is to help the charity with sustainability and development to ensure that its services and support continues and expands in Wales.

Service Delivery Continuation Reserve - this reserve is designated to enable us to continue 1-1 service delivery to families in specific areas where. there is a temporary restriction on funding.

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Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

20. Employee benefit obligations

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £55,626 (2023 - £56,871).

Defined Benefit Scheme

The charity participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the charity to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme.Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the charity is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2019 to 30 September 2025: £11,243,000 per annum (payable monthly and increasing by 3% each on 1st April)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the charity has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

Present values of provision

Present values of provision
2024 2023
2022
£
Present Value of provision
955
Reconciliation of opening and closing provisions
Provision at start of period		 £
£
2,044
3,026
2024
2023
£
£
2,044
3,206
Unwinding of the discount factor (interest expense) 78 61
(1,16) (1,16)
Deficit contribution paid 8 8
Remeasurements - impact of any change in assumptions 1 (55)
Remeasurements - amendments to the contribution schedule - -
Provision at end of period 955 2,044

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Home-Start Cymru For Families

Notes to the Financial Statements - continued for the Year Ended 31 March 2024

20. Employee benefit obligations - continued

Income and Expenditure Impact

==> picture [419 x 110] intentionally omitted <==

----- Start of picture text -----
2024 2023
£ £
Interest Expense 78 61
Remeasurements - impact of any change in assumption 1 (55)
Remeasurements - amendments to the contribution schedule - -
Assumptions
2024% 2023% 2022%
per per per
annum annum annum
Rate of discount 5.31 5.52 2.35
----- End of picture text -----

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

Defined Contribution Schedule

Year
Year		 ending
1		 2024
£
973		 2023
£
1,168		 2022
£
1,168
Year 2 - 973 1,168
Year 3 - - 973

The charity must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.

It is these contributions that have been used to derive the charity's balance sheet liability.

The plan is closed to new entrants and there were no active members of the scheme during the year.

21. Related party disclosures

There were no related party transactions for the year ended 31 March 2024.

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