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2023-03-31-accounts

Charity No 1106362 Company No 05196432

HOME-START NORFOLK

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

HOME-START NORFOLK

YEAR ENDED 31 MARCH 2023

CONTENTS

Page
Trustees' report 1
Independent Examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10

HOME-START NORFOLK

YEAR ENDED 31 MARCH 2023

CHARITY / COMPANY INFORMATION

Registered charity name Home-Start Norfolk
Charity number 1106362
Company number 05196432
Registered address Swaffham Community Centre
Campingland
Swaffham
Norfolk
PE37 7RB
Trustees N A McClelland (Chair)
M J Christian (Resigned 31/03/2023)
F J Fairbairn-Harvey (Resigned 28/09/2023)
S Glenn (Resigned 25/01/2023)
D A Lefevre
S Skoyles
E Treadwell (Resigned 25/01/2023)
J Creaser (Appointed 29/06/2023)
A C Millar (Appointed 29/06/2023)
L J Stabler (Appointed 29/06/2023)
Secretary N F Gotts
Key management personnel Liz Cross (Business Manager)
Natalie Spurdens (Service Manager)
Helen Brown (Development Manager)
Independent examiner Price Bailey LLP
Chartered Accountants
Anglia House
6 Central Avenue
St Andrews Business Park
Thorpe St Andrew
Norwich
NR7 0HR
Bankers HSBC
18 London Street
Norwich
NR2 1LG

HOME-START NORFOLK

TRUSTEES’ REPORT (INCORPORATING THE DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report and financial statements for the year ending 31[st] March 2023.

Home-Start Norfolk is a charitable company limited by guarantee, merged on 1[st] April 2017 from the five individual Home-Start schemes operating across Norfolk. The oldest of these, Home-Start Kings Lynn and West Norfolk, registering as a charity in April 1984. The charitable company was established under a Memorandum of Association, which established its objects and powers and is governed by its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Objectives and Activities

Home-Start Norfolk's charitable objectives and activities are:

Home-Start Norfolk works with families with at least one child under five who are experiencing difficulties and facing challenging circumstances. This may include families struggling to cope with disabilities or additional needs, poor mental health, social isolation, family breakdown, bereavement, or financial hardship. Home-Start’s unique service provides preventative early intervention to support parents, enabling them to grow in confidence, and empowering them to make positive changes to give families the best possible pathway to improved health, wellbeing, and stability.

Home-Start Norfolk offers families a unique, non-judgemental, informal, home-visiting service, which achieves positive change. To deliver its services, the charity recruits and trains volunteers from the local community, who give their time and parenting experience to help other families. Trained volunteers are matched with a family referred for support, developing a trusted relationship which fosters selfresilience and builds confidence, successfully integrating families into their communities.

During the year, the charity also provided infant massage sessions in small groups, or one-to-one to improve attachment and wellbeing, and delivered toddler groups and new baby weigh-ins to reduce isolation and loneliness in Forces communities.

Home-Start Norfolk is proud to be part of the federated national network of Home-Start UK as the movement celebrates its 50[th] year.

Public Benefit

The trustees are mindful of the requirements of the Charity Commission regarding the Public Benefit test and confirm that the activities of the charity will conform with these requirements.

Page 1

HOME-START NORFOLK

TRUSTEES’ REPORT (INCORPORATING THE DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 MARCH 2023

Achievements and Performance

During 2022/23, a total of 414 (2022: 345) families received support from Home-Start Norfolk, including:

337 new referrals for home-visiting were received during the year (2022: 415). 24% of all referrals were received via the Early Childhood and Family Service due to our sub-contracting arrangement with them, 22% via self-referral, and 21% via the Health Visiting service.

The most common reasons for referral were:

The impact of Home-Start Norfolk’s work is evidenced by the data gathered during the support process:

143 (2022: 119) volunteers supported at least one family, with 56 (2022: 55) new volunteers completing online preparation training during the year, replacing those who have moved on to new opportunities, further education, or employment. Every volunteer is taken through a comprehensive training and induction programme, helping them to bring their own lived experience to families with confidence, in addition to providing a safe and supportive environment for their own learning and development. Investing in the support and retention of volunteers with ongoing training opportunities and regular supervision has been a priority during the year.

Supported by funding from the National Lottery Community Fund, a project has taken place during the year to improve Home-Start Norfolk's ability to demonstrate its impact in order to improve sustainability, which has provided valuable learning across the team. The resulting Social Impact Report is available on our website and on request, providing greater detail on the headline statistics above and family and volunteer impact stories.

Thank you to all the volunteers, staff, referrers, funders and supporters for their continued support.

Page 2

HOME-START NORFOLK

TRUSTEES’ REPORT (INCORPORATING THE DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 MARCH 2023

Achievements and Performance (continued)

Structure, Governance and Management

The total number of Board members shall not be less than four and not more than twenty. The Board of Trustees meet monthly (rotation of full Board meetings, Family Service sub-committee, and Personnel and Resources sub-committee), in accordance with Home-Start Norfolk’s Memorandum and Articles of Association and scheme of delegations.

Trustees set an operational strategy for the charity, and this is reviewed annually. The strategy is due for refresh in 2023-24 due to the challenging external environment. An annual business plan, developed by the Senior Leadership Team in collaboration with the Trustees, ensures that the charity’s strategic objectives are delivered effectively. This is supported by a comprehensive reporting framework comprising monthly management accounts and services reports, which track progress against forecasted outcomes and are scrutinised at each monthly meeting.

The sub-committee structure, comprising of a Personnel and Resources Committee, chaired by David Lefevre, with delegated responsibility for financial management, personnel and processes, and a Family Service Committee, chaired by Sue Skoyles, with oversight of services and projects, enabling trustees to bring their specific areas of expertise to support the Senior Leadership Team.

Full quarterly Board meetings, chaired by Niall McClelland, cover strategy, business planning, risk management and review, and policy adoption. Board meetings are also attended by the Senior Leadership Team.

The trustees, who are also directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements, are listed at the front of this document. Marianne Christian and Evelyn Treadwell stood down during the year, having given many years of service to Home-Start Norfolk. Sheila Glenn also resigned during the year.

New trustees complete a six-month probation and induction process before being appointed to the board. Anita Millar, Lynne Stabler and Jo Creaser joined post year end, bringing further skills and expertise to the board.

Identifying gaps using a skills audit, the board continue to seek new trustees with the knowledge and experience needed to complement and develop the board.

Day-to-day operations of the charity are delegated to the Senior Leadership Team and supporting staff in line with policies, budget, and the business plan.

Changes to the Senior Leadership Team were made during the year as the charity’s income for 2023-24 was forecast to be significantly reduced due to the availability of funding and the costs of living crisis reducing charitable donations. The Board of Trustees took the difficult decision to reduce operational costs and consolidate the workforce, to bring costs more closely aligned to forecast income. Consequently, in December 2022, Daniel Williams, Chief Executive, agreed to step down. The Board wishes to thank Daniel for his contribution to the charity over the last four years.

Liz Cross, Business Manager, stepped up to become Interim Senior Lead, supported by the Senior Leadership Team comprising of Natalie Spurdens, Services Manager, and Helen Brown, Development Manager. From April 23, the staff structure was realigned, with the team agreeing to a small reduction in hours to give the charity the best chance to remain financially viable until new funding and commissioning opportunities arise. Decisions focused on ensuring that countywide services to the

Page 3

HOME-START NORFOLK

TRUSTEES’ REPORT (INCORPORATING THE DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 MARCH 2023

charity’s beneficiaries continue, implementing cost savings at the management level and increasing internal efficiencies.

The staff structure is now established and stabilised, and the Board remain confident that the appropriate steps were taken to ensure the long-term viability of the charity.

Financial Review

Total income received for the year 2022/23 was £473,873 (2022: £356,476), an increase of 33%, with a 1-year core grant from National Lottery and sub-contract with Action for Children supplementing trust and fundraising income. Expenditure totalled £511,568 (2022: £448,123), an increase of 14% on last year. This resulted in a net deficit of £37,695 (2022: deficit £91,647).

Trustees had forecast a small deficit for 2022-23, this increased with the movement of multi-year grant funding received at the end of the year into the 23-24 financial year. Towards the end of 2022, with news of the 3-year contract with Action for Children and long-term National Lottery funding coming to an end, the Board took steps to analyse the financial sustainability of the charity, considering several different scenarios. It was clear that the current model, with its growing expenditure and uncertainty around income due to system-wide pressures, could not be sustained into the future. Therefore, the Board decided to realign the staff structure to ensure viability into the future, cutting the expenditure budget for 2023-24, by reducing the management overhead whilst maintaining front-line services for beneficiaries countywide.

Financial sustainability requires income to be derived from a range of sources, including commissioned opportunities with local system partners, continued success with trust and foundation fundraising and developing additional fundraising streams within the community and corporate arenas. The Board’s prudence and foresight in addressing financial sustainability without impacting front-line services will ensure Home-Start Norfolk’s countywide service remains viable when new commissioning opportunities arise from Norfolk County Council’s Start for Life and Family Hub rollout over the next few years.

As of 31[st] March 2023, the charitable company had total funds of £380,764 (2022: £418,459), which comprise of £34,795 (2022: £43,035) of restricted funds from grants awarded during the financial period which will be expended during the next financial year and unrestricted reserves of £345,969 (2022: £375,424). Included within unrestricted reserves is £195,000 (2022: £225,000) of funds which are held in accordance with the reserves policy (as below), in respect of the potential closure costs of the charity. When excluding this, the unrestricted reserves available for use are £150,969 (2022: £150,424).

Restricted funds

Restricted funds of £34,795 (2022: £43,035) is income awarded during the financial year pertaining to specific funder requirements, comprising primarily of staff and volunteer costs, and consultancy costs incurred during the National Lottery funded Impact Project, which will be expended in 2023-24.

Page 4

HOME-START NORFOLK

TRUSTEES’ REPORT (INCORPORATING THE DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 MARCH 2023

Reserves Policy

The Board of Trustees have set a reserves policy which requires:

a) Reserves are maintained at a level which ensures that Home-Start’s core activity could continue during a period of unforeseen difficulty; and

b) A proportion of reserves are maintained in a readily realisable form.

The calculation of the required level of reserves is an integral part of our planning, budget and forecast cycle and considers:

Having considered the risk, activity and commitments of the organisation, trustees have agreed that the scheme needs to retain a level of free reserves equating to 3 months running costs plus potential closure costs (e.g. redundancy costs) which equates to approximately £195,000.

Plans for Future Periods

Demands on our service remain strong with the impact of the pandemic and the cost-of-living crisis continuing to impact children and families across our community. The Trustees and Senior Leadership Team are working closely together to review the charity’s strategic priorities in light of this and the challenging funding environment. Home-Start UK has provided funding to engage the services of an experienced Strategy and Development Consultant, who is conducting a thorough review of strategy.

Strategic priorities over the next three years include:

The budgeted financial position for 2023-24 looks positive, with a break-even position anticipated. The charity has received a one-off grant from Norfolk County Council, and a contribution from Action for Children, along with 3-year funding from Henry Smith Charity, and the team continue to develop positive relationships and explore funding opportunities from both local and national trusts and foundations, local commissioners, corporate and community donations.

Page 5

HOME-START NORFOLK

TRUSTEES’ REPORT (INCORPORATING THE DIRECTOR’S REPORT) FOR THE YEAR ENDED 31 MARCH 2023

Statement of Trustees’ responsibility

The trustees (who are also directors of Home-Start Norfolk for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board of Trustees:

Niall McClelland (Nov 13, 2023, 12:37pm) N McClelland (Chair of Trustees) Date:

13 Nov 2023

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HOME-START NORFOLK

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HOME-START NORFOLK

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Restricted Total Funds Total Funds
Notes Funds 2023 Funds 2023 2023 2022
£ £ £ £
INCOME
Donations and Fundraising
2		 48,191 - 48,191 67,067
Grants 2 60,350 362,888 423,238 287,996
Other Income 843 - 843 1,248
Investment income 1,601 - 1,601 165
__ __ _ _
TOTAL INCOME 110,985 362,888 473,873 356,476
__ __ _ _
EXPENDITURE
Costs of raising funds 3 40,723 - 40,723 40,803
Charitable Activities 4 99,717 371,128 470,845 407,320
__ __ _ __
Total expenditure 140,440 371,128 511,568 448,123
__ __ _ __
Net expenditure being net movement (29,455) (8,240) (37,695)
(91,647)
in funds
Transfer between funds - - - -
__ __ _ _
Net movement in funds (29,455) (8,240) (37,695)
(91,647)
Total funds at 1 April 375,424 43,035 418,459 510,106
Total funds at 31 March 345,969 34,795 380,764 418,459

The statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 10 to 23 form part of these financial statements.

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HOME-START NORFOLK

BALANCE SHEET AS AT 31 MARCH 2023

Notes
£
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Debtors
10
2,598
Cash at bank and in hand
422,985
_
425,583
CREDITORS
Amounts falling due within one year
11
(61,174)
_
NET CURRENT ASSETS
TOTAL ASSETS LESS TOTAL
LIABILITIES
THE FUNDS OF THE CHARITY:
Unrestricted funds
13
Comprising of:
Reserves fund
195,000
Free reserves
150,969
Restricted funds
13
TOTAL FUNDS		 2023
£
£
16,355
11,538
464,803
_
476,341
(74,454)
_
364,409
_
380,764
345,969
225,000
150,424
34,795
_
380,764		 2022
£
16,572
401,887
_
418,459
375,424
43,035
_
418,459

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

The financial statements were approved by the Trustees on 13[th] November 2023 and are signed on their behalf by:

~~…………………………..~~ Niall McClelland (Nov 13, 2023, 12:37pm) N McClelland (Chair of Trustees) Company registration number: 05196432

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HOME-START NORFOLK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 ACCOUNTING POLICIES

General information

The charity is a private company limited by guarantee registered in England and Wales. The address of the registered office is Swaffham Community Centre, Campingland, Swaffham, Norfolk, England, PE37 7RB.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - Charities SORP (FRS 102), and the Charities Act 2011.

Home-Start Norfolk meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The charity, being small in size, has used the exemption provided by Charities SORP (FRS 102) under which it is not required to include a cash flow statement as part of the financial statements.

The financial statements are prepared on a going concern basis under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Fund accounting

Unrestricted funds are those which are available for the general purposes of the Charity at the discretion of the Trustees in the furtherance of the charitable company's objectives.

Restricted funds are those which have been received for undertaking an activity specified by the donor.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 ACCOUNTING POLICIES (continued)

Designated funds comprise unrestricted funds that have been put aside at the discretion of the Trustees for particular purposes.

Income

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

Income is generated through donations, grants and other sources. Donations are recognised when received. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year.

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.

Expenditure

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

Allocation of support costs

Support costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the Charity's activities. These costs have been allocated to expenditure on charitable activities.

Governance costs are included in support costs and relate to the direct running of the Charity, allowing it to operate and generate the information required for public accountability. They include the costs of accounts preparation and independent examination.

Tangible Fixed Assets

Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on the following basis

Asset Category Annual Rate Fixtures and fittings 25% Straight line

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 ACCOUNTING POLICIES (continued)

Redundancy and termination payments

Redundancy and termination costs are recognised as an expense in the Statement of Financial Activities and a liability on the Balance Sheet immediately at the point the Charity is demonstrably committed to either:

The Charity is considered to be demonstrably committed only when it has a detailed formal plan for the termination and is without realistic possibility of withdrawal from the plan.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Creditors are recognised when the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Cash at bank and in hand

Cash at bank and in hand includes cash held in bank accounts. There are no short-term investments.

Financial instruments

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

Pensions

The Charity provides a defined contribution pension scheme, whereby the charity and its staff each fund the scheme, managed by a third-party provider, the assets of which are held by the provider separately from the assets of the charity. The pension charge in the financial statements represents the amounts payable by the charity to the fund in respect of the period.

Corporation tax

The Charity is exempt from taxation in respect of income and capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to the charitable purposes.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Judgements and key sources of estimation uncertainty

In the application of the Charity's accounting policies, which are described above, the Trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The Trustees do not consider that there are any other critical judgements or sources of estimation uncertainly in the financial statements.

2 DONATIONS AND LEGACIES

Unrestricted Restricted Total
2023 2023 2023
£ £ £
Donations 48,191 - 48,191
Grants 60,350 362,888 423,238
_ _ _
108,541 362,888 471,429
Unrestricted Restricted
2022
2022
£
£
Donations
67,067
-
Grants
11,000
276,996
__
_____
78,067
276,996		 Total
2022
£
67,067
287,996
_
355,063

In 2023 £140,000 (2022: £16,323) of government grants were received from the National Lottery Community Fund providing support to core costs and funding to undertake an impact review to support future sustainability.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

3 COSTS OF RAISING FUNDS

COSTS OF RAISING FUNDS
Unrestricted
Unrestricted
Funds Funds
2023 2022
£ £
Salaries of fundraising staff 37,329 39,998
Fundraising costs 3,145 55
Publicity and Marketing 249 750
______ ______
40,723 40,803
EXPENDITURE ON CHARITABLE ACTIVITIES
Activities Support and
Undertaken governance
Directly costs Total
2023 2023 2023
£ £ £
Charitable activities 430,760 40,085 470,845
Activities Support and
Undertaken governance
Directly costs Total
2022 2022 2022
£ £ £
Charitable activities 374,636 32,684 407,320

4 EXPENDITURE ON CHARITABLE ACTIVITIES

In 2023 expenditure on charitable activities was £470,845 (2022: £407,320) of which £99,717 (2022: £124,051) was expenditure from unrestricted funds and £371,128 (2022: £283,269) was expenditure from restricted funds.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

5 SUPPORT COSTS
2023 2022
Cost type £ £
Consultancy fees 16,136 8,140
Insurance 3,195 3,589
Consumables 1,144 803
Depreciation 6,956 5,849
Sundry expenditure 1,688 985
HSUK fee 6,417 8,887
Bank Charges 115 87
Subscriptions 40 185
Governance costs:
Independent Examination fee 2,550 2,400
Accountancy 1,844 1,759
______ ______
Total 40,085 32,684

Support costs have been allocated to charitable activities based on actual use.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6 STAFF COSTS

2023
Staff costs were as follows:
£
Wages and salaries
359,497
Employer NIC
28,917
Other pension costs
19,955
_
Total
408,369
Staff restructuring costs comprise:
2023
£
Redundancy payments
2,570

The average monthly number of employees during the year was as follows:
2023
No.
Employees
18		 2023
£
359,497
28,917
19,955
_
408,369
2023
£
2,570
 2022
£
325,317
21,302
18,004
_
364,623
2022
£
-

2022
No.
16

The Charity considers its key management personnel to comprise of Service Manager, Business Manager, Development Manager and Chief Executive officer (prior to the CEO role being made redundant during the year). The total staff costs including employer pension contributions of the key management personnel were £144,710 (2022: £147,529). No employee has employee benefits in excess of £60,000 (2022: none).

7 NET INCOME / (EXPENDITURE)
2023 2022
£ £
This is stated after charging:
Depreciation of tangible fixed assets 6,956 5,849
Pension costs 19,955 18,004
8 INDEPENDENT EXAMINER’S REMUNERATION
2023 2022
£ £
Independent Examination fees 2,550 2,400

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

9
TANGIBLE FIXED ASSETS
Fixtures and
Equipment
£
Cost
At 1 April 2022
47,322
Additions
6,739
__
At 31 March 2023
54,061
Depreciation
At 1 April 2022
30,750
Charge for the year
6,956
_
At 31 March 2023
37,706
Net Book Value
At 31 March 2023
16,355
At 1 April 2022
16,572
10
DEBTORS
2023
£
Accrued income
990
Prepayments
1,608
___
2,598		 Total
£
47,322
6,739
______
54,061
30,750
6,956
______
37,706
16,355
16,572
2022
£
10,545
993
______
11,538

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HOME-START NORFOLK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Accruals and deferred income
Social security and other taxes
Deferred income
At 1 April
Additions during the year
Released during the year
At 31 March		 2023
£
-
56,566
4,608
__
61,174
2023
£
64,902
30,000
(41,597)
____
53,305		 2022
£
679
67,960
5,815
__
74,454
2022
£
33,823
64,902
(33,823)
____
64,902

Grant income has been deferred, due to being received in advance of the period to which it relates.

12 CONTINGENT LIBILITY

The Pensions Trust - Growth Plan ("the scheme")

Home-Start Norfolk participates in the scheme, a multi-employer scheme which provides benefits to some 950 non-associated participating employers. The scheme is classified as a 'last-man standing arrangement'. Therefore, the charitable company 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. Therefore Home-Start Norfolk has a contingent liability, as a result of pension funds held that sit within a growth plan administered by The Pensions Trust. There is a contingent liability of £6,045 (2022: £8,321) relating to the pension scheme, which would fall due to the scheme provider if Home-Start Norfolk had no members in the scheme, as this would trigger a cessation and crystallise the liability. There are four (2022: six) members remaining in the scheme. The amount of the liability is as advised by the Pensions Trust following their latest Scheme Valuation. The plan currently has an identified shortfall with sufficient funds to cover 82% of liabilities. Home-Start Norfolk does not contribute towards the recovery plan for the scheme as the charity has no series 1 or series 2 liabilities. The recovery plan is due to end on 31/01/2025 and is reviewed every 3 years.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13 STATEMENT OF FUNDS

2023 Brought Carried
Forward Income Expenditure Transfers forward
£ £ £ £ £
UNRESTRICTED FUNDS
General funds 375,424 110,985 (140,440)
-		 345,969
_ _ _ ______ __
RESTRICTED FUNDS
Action for Children - 125,000 (124,609)
-		 391
Home-Start UK 2,339 - (2,193)
-		 146
National Lottery Community Fund - 140,000 (124,756)
-		 15,244
Norfolk Community Foundation 24,377 23,831 (39,066)
-		 9,142
MOD Covenant Fund 1,292 35,000 (33,919)
-		 2,373
Nationwide Community Grant - 24,097 (23,389)
-		 708
Nth Norfolk Sustainable Communities - 12,960 (6,169)
-		 6,791
Postcode Places Trust 15,027 - (15,027)
-		 -
RC Snelling Charitable Trust - 2,000 (2,000)
-		 -
_ _ _ ______ __
Total restricted funds 43,035 362,888 (371,128)
-		 34,795
_ _ _ ______ __
Total Funds 418,459 473,873 (511,568)
-		 380,764

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13 STATEMENT OF FUNDS (continued)

2022 Brought Carried
Forward Income Expenditure Transfers forward
£ £ £ £ £
UNRESTRICTED FUNDS
Designated funds 108,656 - - (108,656) -
General funds 352,142 79,480 (164,854) 108,656 375,424
_ ______ _ ______ _
Total unrestricted funds 460,798 79,480 (164,854)
-		 375,424
RESTRICTED FUNDS
GYBC Community Grant 6,130 7,917 (14,047)
-		 -
Action for Children - 125,000 (125,000)
-		 -
Home-Start UK 3,600 22,531 (23,792)
-		 2,339
Big Lottery 33,656 16,323 (49,979)
-		 -
Norfolk Community Foundation 5,922 50,441 (31,986)
-		 24,377
MOD Covenant Fund - 35,000 (33,708)
-		 1,292
Postcode Places Trust - 19,284 (4,257)
-		 15,027
Yorkshire Building Society - 500 (500)
-		 -
_ _ _ ______ _
Total restricted funds 49,308 276,996 (283,269)
-		 43,035
_ _ _ ______ _
Total Funds 510,106 356,476 (448,123)
-		 418,459

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13 STATEMENT OF FUNDS (continued)

MOD Covenant Fund Tackling loneliness & isolation in families living at RAF Marham. Home-Start UK DCMS Pears Resilience funding contributed to the salary costs of a Fundraising Officer. National Lottery Grant to support core costs and undertake an impact review to support future sustainability. Norfolk Community Foundation Various funds, including: Great Yarmouth & Waveney Maternity Care Fund supporting new babies, Sir Norman Lamb Health & Wellbeing Fund supporting young children’s emotional wellbeing, and Saracens supporting work in South Norfolk. Action for Children Contract with Action for Children delivery family support under Norfolk County Council’s Early Childhood and Family Service. Postcode Places Trust Out of the Blue project funding supporting parental mental wellbeing. RC Snelling Charitable Trust Funding for a new computer. Nationwide Community Grant Empowering Families To Thrive - providing tailored family support countywide North Norfolk Sustainable Building Resilience in North Norfolk families - providing Communities family support and training local volunteers In North Norfolk GYBC Community Grant Grant providing intensive support to families experiencing complex needs in Great Yarmouth Borough via a Family Support worker Big Lottery Countywide funding to provide volunteer support to mums’ with children between 0 – 2 or pre-natal to improve maternal mental well-being, reduce isolation and improve parent/child attachment Yorkshire Building Society Funding for a new computer.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

13 STATEMENT OF FUNDS (continued)

U NRESTRICTED FUNDS

The unrestricted funds are available to be spent for any of the purposes of the charity.

14 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Restricted Unrestricted Total
Funds funds funds
2023 2023 2023
£ £ £
Fixed assets - 16,355 16,355
Net current assets 34,795 329,614 364,409
______ _ _
34,795 345,969 380,764
______ _ _
Restricted Unrestricted Total
Funds funds funds
2022 2022 2022
£ £ £
Fixed assets - 16,572 16,572
Net current assets 43,035 358,852 401,887
______ _ _
43,035 375,424 418,459
______ _ _

15 PENSION COMMITMENTS

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in independently administered funds. The total pension cost charge represents contributions payable by the charity to the funds and amounted to £19,955 (2022: £18,004). No amounts are outstanding at year end (2022: £nil).

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

16 RELATED PARTIES

In their roles as Trustees, the Trustees give their time and expertise freely without any form of remuneration or other benefit in cash or kind.

Trustees expenses were not incurred during the year for any trustees (2022: £nil).

There were no other related party transactions (2022: none).

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