REGISTERED COMPANY liUMBER: 05239322 (England and Wales) REGISTERED CHARITY NUMBER: 1107413 REPORT OF THE RUSTEES AND UNAUDITED FIN NCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2021 FOR HOME-START SOL'THWAR Chariot House Limitcd Chartered Accountants 44 Grand Parade Brighton Fxst Sussex BN2 9QA
HOME-START SOUTHWARK cor*TENTS OF THE FINANCIAL STAT FOR THE YEAR ENDED 31 MAR H 2021 Page Report of the Tru$t¢es I to 5 Independent Examlner's Report St#temtRt of FlnaneiAI Actlvltles Bxlanee Sheet 8 to 9 Notes tfy th¢ Fln&Trcial St¥Jlements 10 to 20
E-START S UTHWARK PORT F THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 The trustees who are also directors of the charity foT the purposes of the Companies Act 2006, present their reFOrt with the financial statements of the charity for ihe year ended 31 March 2021. The t$ have adopt¢41 the provisions of Accounting and Reporting by Chariiies.. Statcment of Recommended Pra(Xice appli(¥ble io charities preparing their a¢counts in accordance wtth thc Fitllncial Reporting StaDdard applicable in the UK and Republic of Ir¢l8nd (FRS 102) (effective l January 2019). OBJECTIVES AND AcfiviTIES Objectives and aim8 a) Earliest Int¢rvcntion'. Rcduce th¢ level of statutory intervention for babi¢& childttrt & families in Southwark. b) Comrnunity Impa¢t'. Greater social and economic well-being for people in Southwark through learning, vocation and voluntccring opportrJnits¢s. c) SLLStainpdbility.' Sustsin an effective home-based family sUPPOrt service in Southwark Signifant 8etivities Home-starf Southwark is an ind¢4 voluntw organisatson whi¢h w0S toward5 the in¢re&sed ¢onfidence and Ind¢enCe of th¢ family by delivering five proj¢¢ts and vgrious courses in 2020-21: - Homc-stsn Volunteer Support for Families ai home (Core Support). - Bump to Bab¢ {pcrinatal support) and Mellow Parenting (Mellow Babies panting course): Made of Money (financial Managem¢nt) - Big Hopcs Big Futures {5tructured Child development ¢ourse in th¢ home gnd online) - About Boys Cour5¢, Baby ma$ge, Songtime.. Some of the activities we provide in¢lude'. support and professional friendship in th¢ home to help redu¢¢ isolation of families ind encourage th¢m ¢0 acce8$ online and outside activitTes and services; infomation and encourdgement about the benefits of healthy ting and exercise to increw the physical and emotional well-being of families,. Strucre(l learning through play and positiv¢ parenting sessions in the home to get children and parents ready for nuTsery and school.. prneti¢al support and guidance n¢¢ded ai the pcrit)atal sta8e and during th¢ early years of a child's life to help lay vital, social and emotional foundation for the chi14 building happier. healthier lives and enabling them to achieve their full potential. - help to addr¢&s families, ¢coTh)mrc welfart andlor inad¢quate housing 1&su. 5UPPOrt and encourdg¢ment for familic$ to addre55 perwnal iwes that ¢an have a negative effect on their children's development by a¢¢essing outside support such as mental h¢a]th. substsnce misus¢, dome5tsc violen¢e agencies. - Prnctical support with access to ailevie food and fuel poverty Publle benefit The TTUStees confirnl that they have referred io th¢ Chariry Commission's general guidance on publie benefit when reviewing our obJeciive5 and aetivities and in planning future activities. It is the judgement of the Trustees thal activities in pursuit of the above obJ¢ctives fully meet the public Enefit lest. which they have k¢pl in mind when plannin8 programmes for the charity. Page I
HOMETART SOUTHWARK REPORT FTHETR TEES FOR THE YEAR ENDED 31 MARCH 2021 ACHIEVEMENT AND PERFORMANCE Charitable activities Since it was founded in 1995. Home-start SouthwaTk h8s supported over 2.830 families with at least one child under five y¢aTS or exp¢cting a baby and recruityj community volunteer5 to provide home supporL In 2021k21, 48 trned volunteets, 3 Family Support WoTkers and a Bwnp to Babe Co-ordinator supported a total of151 falnilics and 268 children. setvice is deliv¢Ted througb our two main projects Core and Bump to Bab¢ and our group based work Big Hope& Big Futures. During this year.. 430/0 of familics receiv¢d core support from a volunteer or a Family Support Worker, predominantly online due to social distancing restrictions. 10 improve the home environmenl reduce isolatitsn and mental health issues, access to local service4 assistsnce io deal with IKyusing issues. prdctical help to manage multiple births and difficuliies during pregnancy. 21 /0 of families received online support from the Bump Babe project which improve outcomes for expectant and new motherg ¢xpcriencing moderate health and Sla] difficulti compl¢mentin8 the statutory s¢rvices provided by midwives. hoalth visitors and other health and Sla] care professionals. - 36DA of families receiv¢d support throu8h our Big Hopes Big Future prngramme and other online support groups to understand the benefits of early learning for thcir childr¢n and assist them on how to prepare th¢ir children foT nursery and hool. Our families also benefited from one or more ofthe followtng progr•mm¢$ or courses.. Madc of Moncy 5UPPOrt to h¢lp mana8e their finances belter through bud8etsn8, debt awren¢ss and ¢ost savin8 lechniques. Mellow Babies parenting course which is on attachm¢nt-based early int¢rvention programme that fo¢uses on promoting parent-child relationships. As a result of our servicc, the majority of our fwnilies achieved multiple outcomes and, in many ins¢ances. a¢hieved outcomes that were not originally identified at ¥s$emertt. In 2020-21. ou¢comes for families supported were: InYolv¢ment in ehildren's development. learning socialising 72% - Improved parent's confidence and 5cif-estcem Acccs%ing local 5ervi¢es 68¥J/o Managin8 children's behaviour 670/• Copin¥ with loneliness and social isolation 58Y• Better able to manage strc&8 CaUs¢d by conl]ict in the family 781/1• Bctter able to manage the household budget 77% - Parent improved ability to handle the daY-t(daY nllmin8 of the home 72V• - Coping with extra work caused by multiple birth and childm 65% Coping wilh child's physical health 86Q/ Coping with Child's Tnental health 83•/0 Coping with adult physical hcalth 62•/0 Coping with adult mental health 61% Our projects are ¢delIv¢red by local commtmity volunteer5, and it is C55cntial that thcy rccetve high quality training and support. Dlaring 2021k21, we had 68 active voluT]teeT5 each supporting at le&st onc family for stx months or long¢r. Our volunteers received ongoing support and we (¥)ntinued their profe&8ional development through an ongoing training programme. This year we offered: Aulistic Spectwm trainin& tknmestic Abuse trdinin8. NVQ Level 2 online trdining in a range of social care subjects. Big Hope& Big Futures Group Facilitator training. Being Together early years toolkit, and Mad¢ of Money budgeting course. Page 2
HOME-START SOUTHWARK REPORT OF THE TRUSTEES FOR THE YEAR ENDED JI MARCH 2 21 FIP*ANCIAL REVIEW Financial position Details of Home-stsrt SouthwaTk's revenue and ¢xp¢nditUT¢ for th¢ year under review and the previous year are shown on page 7 of the FiTwieial Statem¢nt& We or¢ plead to report the Home-start Southwark 202(k21 rcsults. Our total funding for the year was £417225, an incrcase of 35.Y/o compared to prior y¢ar, and our lotal resources expended. for the year was £319,451, an increase of 10.9 / driven by in¢rw¢d staff costs in 2020-21. Resultant 'nct rcsources after transferf for the year was £97.774 incr¢asing fund balances carried forward at 31 March 2021 to £252,526 (which includes £170.726 of 8ener81 unrestn'cted fund5). CovTrd-19 impact As with all organisations acD)ss the UK, Home-start Southw¥rk was impacted by the COVID-19 pandemic from M#r¢h 2020 onwards. With the introduction of the lockdown. our offices were closed and our trams transitioned to working from hotne. Our proj¢ct& plans and budgets for the year were reawsed 4$ was the of our seryices the way in which these were delivered. The out¢ome vas that we were unable io deliver. or were required to change th¢ delivcry method of. many of our plann¢d activiiies. However. given the eritscal natur¢ of the support and services offered by Homc-start Southwark to th¢ ¢ommunity, all our empluyees Coniirtued ts) work tir¢lessly from home or as key workers in the community. No employees w¢r¢ furlough¢d and Hom¢-Stsrt Southwark did not acce the COronavin Job Retrntion kh¢m¢. Additionally. it was prndcrtt io put on hold a number of our strategic and groth objectivcs. As a r¢%uli of this our overall for thc year came in below plan rtsultsng irt art in¢r¢as¢ in funds e2rri¢d forward. The expectation is that excess carried forward resources will b¢ utilis¢d going forward in line with a return to our strate8lC 8rowrh plan. Grants Our key grants this year included fimdin8 from the followin8 charitable ¢)rganitiOnS.' - The Big Lottery RChing Communities.. £88,231. BBCCIN.. £41,416. - Th¢ H¢nry Smith Charity.. £40,(xN) United St Saviour5 Charity.. £33.168 London Funders.. £31,440 - City Bridg¢'l'rust £38,6(M) - Pcter Minet.. £20.(M)O Home-start.. £16,908 Adrian Swire.. £5.833 - Cldrions.. £4,0(X) - St George the Martyr: £2.5) In addition to th¢s¢ grants, we are hugely grateful to our generou8 benefactors and privat¢ individual donors who recognise the ongoing importance of our work and continue to support us. Our special thanks th15 year go to MaTquesado who donaied £62.905. The Robert Holrnan Memorial Tnt which donated £3.). The Elizabeth Princ¢ & Zaiger TnJ which donat¢d £2,000 and Dentons UK who donated £ l.(W. We would also like to thank J Sw¢db¢rg, T Col¢lough, Grindall and South who so generously donated £2,(MX), £1,170, £600 and £5(KJ rc5PCCtiYely. Findl thanks go to the Lady Captain of Dulwich and Sydenham Hill Golf Club who chose Home-stsrt Southwark her charity of th¢ year and in doing w helped raise £2.801. Wc continue to f($ our attention on 5ccuring ongoing fimding to ensure that we Can provide high quali(y Iraining to our volunteers and exceptional r¥I¢¢ d¢livery lo thc familics in our community in Mced of our support. Furth¢r funding and placement fimding (as grnnts drdw lo a c105c) is required in order for u5 to fully achicvc bo¢h our near- and medium-term business plan goals and to secure our long-lem) future. With this at the forefront of our minds, we continue to seek to identify and apply for new sources of fundwg to cover both our project delivery and core Costs whilst also maintaining close control of our expenth"ture. Opening funds balance.. £154,752. Closing FuDds Balanc£.' £252.526. Page 3
HOME-S"I'ART SOtrrHWARK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MAR 021 FINANCIAL REVIEW Ruerves policy The Managern¢nt Committee ha5 a8re¢d a fornial w)liey on reserves which requires that.. a) R¢seryes are maintain¢d at a level of W"Ch ¢Dsures Home-start Southwark bas sufficicnt resoutres to continue its core activity (on a short-term basis) in the everti of unforeseen Circumstan9 Such as a reduthon or cessation of funding. b) The trnstees hav¢ r¢viewed the charitys need for a reserve #nd agree the appmpriate level. ¢) Thi$ will be in line with the annual review of thi5 w)li¢y, lat legislative r¢quir¢ments and best prd¢tic¢ advice by the Charity Commission and Hom¢-Stsrt UK. The l¢Yel of serveS in this fund at 31 Mar¢h 2021 was £81.8(KI (2019120.. £81,81X)). S'I'RUCTURE, GOVERNANCE AND MANAGEMENT Governing doeum¢nt Home.Stdrt Southwark was in¢OTPOTrtol as A C(Thpany limited by guarant¢¢ on 23rd Septembv 2 (Company Number 5239322). The company is regiered as a Charity with the Charity Commi55ion (r¢8iStration number 1107413). The charity was es¢ablished in 1995 and was previously registered with the Charity Commission und¢r the registration number 1048969. The TNs*es meet bi monthly to ensure th¢ ¢onwliance with the M¢moTrndum and Articles and the policies of Home- Start Southwark. Thc day to day operation within the poliei¢s. forward plan and budg¢ts are delegated to the Scheme Director and the Busines5 Development CdInatOr. Und¢r the Memordndum & Articles of Awciation the Trustees appoint the officers of the chariiy (Chair and Tasurer). The TSte¢S accordin8 10 the Articles of ASslation are elected ai the A[al Generdl Meeting5. The Trustees may ¢o-opt any person duly qlified to be ¥ppointed as a Trustee and that person will hold office until the next AGM. RF.FERENCE AND ADMINISTRATIVE DETAILS ReRister¢d Company nurnber 05239322 IF.ngland and Wales) Reglstered Charity number 1107413 Registered office Can Meuanine 7-14 Great Dover Street London SEI 4YR Trustee$ A P Baddeley Ccary N S Doble (appointed 221412020) A P Gardiner- Treasurer M Kaipah-milne CDGKing S Mcg¢o (appointed 271112021) S Messenger- Chair C E Moxon (appointed 241412020) T Popova lappointcd 271112021) P M South- Vic¢-chair R E Vernezza (appointed 1&412020) A A Williams (appointed 61912020) Page 4
E-START SOUTHWARK PORT FOR TH F THE TRU TEES YEAR ENDED 31 MARCH 2021 REFERENCE AIYD ADMINISTRATIVE DETAII Company Se¢retary P E Hawkins Independent Examiner Leanne Leverington FMAAT Association of AccouniinE T¢¢hnicians Chariot House Limitrd Chartered Accountants 44 Grand Parade Brighton Easi Sussex BN2 9QA B8nk¢ri CAF Bank Ltsl 25 Kings Hill Avenue Kings Hill West Malling Kent MF.194JQ Approved by order of the IM)ard of trustees on... . signed on its behalf by.. Trust¢¢ Page 5
INDF.PENDENT EXAMINER'S REPORT TO THE TRUSTEE HOML-START SOUTHWARK Independent examiner'g report to the Istee$ of Home-St4rt Southv4*rk ('the Comp4ny') I report to the charity tTUStees on my examinati¢)n of the accounts of the Company for the year ended 31 March 2021. Respfrn$ibilities and basil of report As the chariws tnaceS of the Company (and a150 its directors for the purposes of company law) you are responsible for th¢ prepardiion of th¢ awounts in accordanee with th¢ requirements of the Companies Aci 2006 (Ihe 2006 Act?. Having satisfied myself that the accounts of the Company are not required to bE auth.ted undcr Part 16 of the 2(K)6 Act and arc eligible for tnd¢pendent examinatio I report in respect of my examination of your charity's accounts as earried out under section 145 of the Chan"ties Ad 2011 (Ihe 2011 Ace)- In carrying out my examination I have follow¢d the Directions given by the Charity Commi&8ion under s¢etson 145(5) (b) of the 2011 Art. Independent examiner'$ $tatement Since your charity's gross income exCe¢d £250.IXM) your examiner must be a member of a I1¢d body. l eon ¢onfirni that l am qualified to undertake the examination b¢cau5e l am a reg]ster¢d m¢mber of Association of Accounting Te¢hnicians which is one of the listed bodi¢& I hav¢ completed my ex8mina¢ion. I confimi that no matters h8v¢ ¢om¢ to my attention in ci)nn¢clion with the examination giving me cause ¢0 believe.. aceotsnting r¢¢ords were not k¢pt in respcct of the Company as required by section 386 of the 2)6 Act. or th¢ accounts do not a¢¢ord with those recor&8: or the aceounts do not comply wilh th¢ accounting requir¢in¢nts of Section 396 of the 2006 Act other than any requirement thai the accounts give a true arml fair view which is not a matter considered as part of an independent examination. OT the xcounts havc noi been pr¢p8red in accord with the methods and prineip1¢5 of the Ststement of R¢coTnmended Praciicc for accounting and ryrting by charitics (applicable ch4ri¢ies preparin8 their accounts in accordance with the Financial Reporting Standard applible irt th¢ UK and Republi¢ of Ireland (FRS 102)). I have no concerns and have com¢ acros5 no other matters in ¢onnection with the examin¥¢ion to which attrntion should b¢ drawn in this report in order to enable 4 proper unders'tandin8 of the Ounts to be reached. Leanne L¢v¢rin8ton FMAAT Association of Accounting Ttthnicians Chariot House Limited Chartered Accountsnts 44 Grand Parade Brighton East Sussex BN2 9QA .011 Iilii... Date.. Pag¢ 6
OME-START UTHWARK STAT MENT OF FINANCIAL ACTIVITIES R THE YEAR ENDED 31 MARCH 21121 2021 Totsl 2020 Totsl fuTJds Unrestricted Restricted funds fund5 Notes INCOME AND ENDOWMENTS FROM Donatsons and legacies 95.551 95,554 50.242 Chirltable aetAvltieJ Chan"table Activities 36. 285,18R 322.IY)6 251,285 Other trading activities Other income 5,397 98 425 425 Total 132,034 285,191 417.225 307,022 EXPENDITURE ON Charitable activities Charitable Activities 7,8119 311.562 319.451 287.865 NET INCOMEI(EXPENDITURE 124.145 (26J71) 97.774 19,157 RECONCILIATION OF FUNDS Tot41 funds broughi forn#rd 128.381 26.371 154,752 135.595 TOTAL FUNDS CARRIED FORWARD 252 526 252.526 154752 The noks form part of these financial statements P8g¢ 7
HOME-START SO WARK BALANCE SHEE 31 MARCH 2 2021 Total fwids 2020 Total funds fid5 fi]nds Notes FIXED ASSETS Tangible assets 10 1.183 1.183 CURRENT ASSETS Debtors Cash at bank and in hand 5.835 5.835 324 548 1,918 182,061 330,383 330,383 183,979 CREDITORS Amounts falling due within one year 12 {73.764) {73.764) {22,592) NET CURRENT ASSETS 256619 256619 161387 'I'OTAL ASSETS LESS CURRENT I.IABII,ITIES 257.802 257.802 161.387 CREDITORS Amounts falling due after more than on¢ y¢aT 13 (5276) (5276) (6.635) NET ASSETS 252 526 252 526 154.752 FUNDS Unrestricted funds Restricted funds 15 252.526 128,381 I'OTAL FUNDS 252 526 154752 The charitable company 15 cntitled to exemption from audit under Section 477 of th¢ Companies Act 2006 for the year tnded 31 March 2021. The membcrs have no¢ required the comparty to obtain an audit of its financial Statements for the year ended 31 March 2021 in ordanCe with Seth'on 476 of the Companies Art 26. The truste¢% acknowledge their responsibilits'es for (a) ensuring that the chantable company keeps accountTn8 records that eomply with S¢¢tions 386 and 387 of the Companies Act 21M)6 and preparing financial staiemcnts which givc a tru¢ and fair view of the St of affairs of the charitsble company as at the end of each financial year and of tts surplus or d¢ficit for exh financial year in accordance with ihe fequTrcmonts of Scctlons 394 and 395 and which otherwise Comply with th¢ requiTemcnts of the Cornpanies Act 2(N)6 relatlT]8 to financial statcments, so far as appli(xble ro thc ¢haritsble company. (b) The notes forn) part of these financial S¢rnents Page 8 contsnued...
HOM -START SOLryHWARK BA NCE SHEET- eontinued I MARCH 2021 These financial stat¢ments have been prepared in accordance with the provisions applicable to clwitsble companies Subject to the small companies regime. The financial slatem¢nts were approved by the Board of Tntte$ and authorised for tS5ue on .. and were signed on its behalf by: Tru%te¢ The notcs forni part of these financial statements Page 9
HOME-START SOUTHWARK NOTES TO T E FJNAYCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTIL¥G POLICIES Basis of preparing the finanelal statements Thc financial staiernents of the charitsblc company, which is a public benefit entity und¢r FRS 102, have b¢¢n prepared in accordance with the Chanties SORP (FRS 102) 'A¢counting and Reporting by Charitlcg.. Ststement of R¢commended Practice app1]ble to charities prqjaring their accounts in accordaTJce with the Financial R¢porting Standard applicable in the UK and Republic of Ireland (FRS 102) (¢ffective l January 2019),, Fin41ncial Rew)rting Standard 102 The Financial Reporting Sthndard applicabl¢ in the UK and Republic of Ireland, and the Companies Act 2{. Thc financial statements have been pr¢parcd undcr the historical cost eonvention. Income The charitys policy on income cognitIOn rs as follows: Voluntary Income is Teceiv¢d by way of donations gifts and is reeognised wh¢n receiv¢d. Fundraising ActlViti¢s are shown when tt¢eive Investment Income is included when ree¢ived. Income from Charithble Activities are a¢¢(Nmts for whcn receivable. Other Income is shown WIM r¢¢eived. Expenditure Expenditure is r¢cognised an accruals basis &s a liability as incuEred. Expenditure includes VAT which in the norn1 ¢ourse of evcnts cannot bc recover¢d and is reported a5 part of the ¢xpenditure to which it relates. Costs of Genernting Funds compri8¢ the costs ¥ssociated with attracting voluntsry income. Charitabl¢ expenditUTe compri5cs those eosis incurred by the charity in ihc delivery of its activilies and seryices for its Ixneficiari¢s. These are costs can bc th'recdy alliKa¢ed th¢ acts'vity ¢oncerned. Governanee costs incluth those eosL8 a5)cIated with merting th¢ constiwtsonal and statulory requirements of the charity includc the indcpend¢nt examincrs fees and costs link¢d io lh¢ Stratc8ic managcm¢nt of the charity. All costs are allo¢a¢ed betw¢en the exp¢ndituYe e*gories of the Ststhenl of Financial Activilie5 (SOFA) on a basis design¢d to reflect the use of the resource. Costs that can be related to a particulaT activity are allocated directly others are apportioncd on an appropriate basis. Transf¢rs between funds are those costs incurred mentioned above whith cannot be allocat direcily to an activity but aTe necessary to support them. Tangible fixed assets Dcpreciation is provided at th¢ following annual Tates in order to write off cach asset ov¢r its estimated useful life. Computer equipment 33% on cost Equipment costing more than £51M> is capitslised and depreciated over its useful lif< 3 years. Depreciation 15 Charged for a full year in ihe year of acquisition. Items costing less than £500 are written off in thc year of purchasc. Fixed Assets and equipTnent include computets. otTice equiprnenL phot(u)pier and printer. Fixed as5et% and equipment excludes software which is expensed in full in the year of puwhase. Page 10 continued...
HO.ME-START soirtHM'ARK NOTES T THE FIf4ANCIAL STATEMENTS- eontiDued R THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES- eontintted Taxation The Chan"ty is Considered to pass the tes set (yjt in Patagrnph I Schedul¢ 6 Finance Ad 2010 and therefore it rncets the definition of a chan"table company for UK Corpordlion Tax Purposes. Accordingly the Charity is polentially excmpt from tsxation in r¢4ttt of income or capital gains Teceived within categories eovered by Chapter 3 Part I I Corporation Tax Act 2010 or Section 256 of th¢ Taxation of Chargeable Gains Act 1992, to the extent that such incom¢ or gains are applied ex¢lu5iv¢ly to charttsble purposes. Fund 4¢countiMg Unr¢s¢ricted fuThts can be used in accordance with the ehan"t#ble obj¢¢tives a¢ the discretion of the ttust¢¢& Restricted fund5 can only be used for particular restricted purposes within the objects of the charity. Restri¢ttons arise when specified by the donor or when fimds are Sed for particular restn'cted putposes. Further ¢xplanation of the nathlrt and purpose of each fund is included in the notes kn the fUn¢181 statements. Going eoneern Th¢ company has prepared th¢s¢ accounts on a going ton¢¢rn basi& however there are mat¢ria] uncertainties in respect of COVID-19 and management hav¢ taken into consideration the ¢xIstg and pontial etT¢cl$ of coronaviTUS on the activities of business in the fUre. Penxion costj and other poyt-retlrement benefits Hom¢-8tart Southwark participates in thc Pension Tntst - The GTowth Plan (the 'seheme"), a multi- employer scheme which provide5 Ixn¢fits lo some 950 non-Lw¢iated participating cmployers. The Scheme is a defincd benefit 5¢heme in thc UK. It is noi possible for Home-start Southwark to obtsin suffi¢11 inforniation to enabl¢ it ot accounts for the scheme L8 a defincd b¢nefi¢ Scheme. Therefore, it 4¢¢0unts for the scheme as a d¢fined contribution scheme. Th¢ scheme is subjeci to th¢ funding legislation ouilincd itt thc Pensions Act 2(KM which ¢am¢ in¢0 force on 30 D¢¢ember 2005. This, log¢th¢r with documents issued by the Pensions Regulator and T¢¢hnical Actuaii&l Stsndards iksued by the Financial Reporttng Council, set out the frdmework for fvndin8 defined benofil occupational pension schemes in the UK. The scheme is C]lfi¢d as a last-man stAndin8 arrangement,. Therefore, the company is potentially liable for other participating ¢mployers' obligation% if thos¢ employers are Unable to mcet thcir share of the bchemc dcficit followng withdrawal from ihe xheme. Participating employ¢rs are legally required to m¢¢t their shareb of the scherne deficit on 8n annuity purchase blsis on withdrawal from the scheme. Please see note 14 for furth¢r disclosuves relatin8 to the sclwne. DONATIOIYS AND LEGACIES 2021 2020 Donations Gift aid 94.792 762 46,974 Donatiotts rec¢ivrt included in the abov& are as follows: 2021 2020 Marquesado Ltd South 62.905 500 18,000 Pagell eontinued...
HOME-START SOUTHW NOTES TOTHE FINAN AL STATEMEN FOR THE YEAR NDED 31 MARCH 2021 - continued DONATIONS LYD LEGACIES- continued The Children'5 Tn1 T Colclough Private dollation5 and online giving The Elizab¢th Prince & Zaiger Trust Grindall t]WICh and Sydenham Hill Golf Club The Robert Holman Memori41 Trust Ultratnarine Ltd Celia Randell Dentons UK J Swedb¢rg Adrian Swire Charitable Tntst 2,250 1.100 14.057 1,170 18,816 2,801 1,400 3,000 1,000 OTHER TRADING ACTIVITIES 2021 2020 Fundrdising events INCOME FROM CHARITABI.F. ACTIVITIES 2021 2020 Activity Charitable Activities Grants 251285 Grants received, included irt th¢ above, are as follows.. 2021 2020 AdriAn Swire Chari¢able Trn The Henry %rnith c.harity Thc Petcr 8tebbings Charity Home-stsrt Lond(Trn Clarions BBC - Childr¢n In N¢¢d Buttle UK The Big Lottery Fund United St Saviouts Charity Peter Minei Trust London Funders City Bridge TTUSt St George the Martyr 5,833 40,(KK) 35,000 22,100 31 4,832 48,062 928 120,183 20.149 16,908 4.000 41,416 33.168 20,0 31.440 38,6(M) 251,285 OTHER INCOME 2021 2020 Acbjal gains on defined benefit pension schemes 425 98 Page 12 continued...
HOME-START SOUTHWARK NOTE TOTHE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 NET INCOMEI(EXPENDrruRE) Net incomeJ{expendilur¢) is stated after ¢hargingl(crediting): 2021 2020 Depreciation- owncd assets IndepeTtd¢nt Examiners Fee 520 2.640 TRUSTEES. REMUNEIL4TION AND BENEFtrs There were no trn$iee$' remuneration or Oth benefits for th¢ year ended 31 Mareh 2021 nor for the year ended 31 Mawh 2020. Trujtees, expensei There were no truskes, expense5 paid for the year ended 31 March 2021 nor for th¢ year ended 31 March 2020. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrcstrict¢d fuThJs Rcstri¢t¢d funds Total funds INCOME AND F.NDOWMEIYTS FROM Donatlons and1¢8a¢ic¥ 50242 50.242 Charitable activitiej Charitabl¢ A¢¢ivities 251,285 251,285 Othcr tradin8 3divities Other incom¢ 5,397 98 5,397 98 Tot41 55.737 251,285 307,022 EXPEIYDITURF. ON Charitable activiti Charitsble Aetiyitieq 49.656 238,209 287.865 NET INCOME 6.081 13.076 19,157 RECONCILIATION OF FUNDS Total funds brought forward 122,31Xl 13,295 135,595 TOTAL FUiIDS CARRIED FORWARD 128.381 26.371 154752 Page 13 continue(L..
HOME-START SO WARK NOTES TO THE FI AINCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2021 STAFF COSTS 2021 2020 Wages and salaries Social security costs Oth¢r pension costs 206,305 14.848 185,706 13.868 22 The amount paid to key man4gtment peTsonn¢l ¢otslled £23,428. The av¢rage monthly number of employtts during th¢ peri(d w&$ as follows: 2021 2020 No employees r¢ttived emoluments in exces5 of £60,(MKJ. TANCJBLE FIXED ASSETS Computer ¢quipm¢nt At l April 2020 Additions Llisposals 21.920 1.703 At 31 March 2021 DEPRECIATION At l April 2020 Chargc for year Eliminated on disposal 21.920 520 21920) At 31 March 2021 520 NET BOOK VALUE At 31 March 2021 At 31 March 2020 Page 14 continued...
HOME-START OUTHWARK TES TO THE FINANCIAL STATEMENTS- Contined OR THE YEAR ENDED 31 MARCH 2011 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Other debto Prepaytn¢nts and aC¢n ]roMe 2.970 2.865 1.582 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2021 2020 Trade creditors Social security and other tsxes Other creditors Defined ben¢fJt pension contributions Accruals and deferred inwme Accru¢d expere$ 452 12,083 99 1,788 54.968 1,735 15.908 73,764 22.S92 13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2021 2020 Defined b¢nefi¢ pension ¢on¢nbutions 6,635 14. DEFINED BEYEFIT PENSION SCHEME- LONG TERM LIABILITIES AND ADDITIONAL CONTRIBUTIONS A full actuarial valuatt'on for the scheme was Tried oui at 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding thortfall, the Truste¢ asked the participating cmployers to pay additional contnbution5 to the scheme as follows.. Detlcli eontributlons From l April 2019 to 31 January 2025: £11,243,IXK) per annum (payable monthly and increasing by 3•A each on I April) Unless a concession has been *gr¢¢d with the Trustee the terni to 31 January 2025 applies. Note that the scheme's previous valuation w&8 carried out wtth an effe¢tive date of 30 SerAember 2014. This valuation showed assets of £793.4m. liabilitses of £969.9m and a deficit of £176.5m. To eliminate this funding shortfall. Ihe Tntee has asked th¢ participating employers pay athlitional contributions to the schcme as follows.. Deficlt Contributions From l April 2016 to 30 Scpt¢mber 2025: £12.945.440 per annum (payablc m¢)nthly and increasing by 30/0 each on 1st April) £54,5( per annum (payable monthly and increasing by 3 /• eb on I April) From l April 2016 to 30 S¢ptember 2028.. Page 15 CODtinue(L..
HO E-START SOUTHWARK TES TO THE FINANCIAL STATEMEN FOR THE YEAR Ef*DED JI MARCH 2021 - condnlled 14. DEFIL¥ED BENEFIT PEYSION SCHEME- LONG TERM LIABILITIES AND ADDITIO,YAL CONTRIBUTIONS- ntined The recov¢ry plan contnljutions are allocated to eacb partt"¢ipatin8 employer in line with their estimated shaTe of the Serie5 1 and Series 2 scheme liabilitie> Where the scheme is in deficit and wh¢r¢ the compaAy has agreed to a deficit funding arrang¢ment the cornpany recogni5es a liability for this obligation. The amount rcco8nis¢d is the net prcsent value of thc deficit redueiion contributions payable under th¢ agreement that relates to the deficit. I'he present value is calculated using the discount rate detsiled in these disclosur¢5. The unwinding of the dise4)unt ratt is recognised as a finan¢¢ c. PRESENT VALUES OF PROVISION 31 March 2021 (£s) 31 March 2020 31 March 2019 {£s) {£s} Present valu¢ of provision 8,370 10,153 RECONCILIATION OF OPENING AND CLOSING PROVISIONS Period Endln8 31 March 2021 Ptrlod Endlne 31 Mah 2020 Provision at $tart of period 8,370 10,153 Unwinding of the discount fador (Inte$1 expense) 187 129 Deficit contribuiion paid {1,735) (1.685) Rcmeasuremenis- impact of any ¢han8e in assumptions 242 (227) Rem¢asurements- arnendmenls to th¢ contribution schedule Provision at end of p¢riod 8.370 Pagc 16 ontinued...
HOME SOUTHWAR NOTE THE FINAN IA STATEMENTS- contiDlled FOR THE YEAR ENDED 31 MARCH 2021 14. DEFINED BENEFIT PENSION SCHEME- ING TERM LIABILITIES AND ADDrrIoNAL CONTRIBUTIONS- Contilled INCOME AND EXPENDITURE IbAPA Period kndiDg 31 March 2021 {£5) Period Ending 31 March 2020 (£s} Interest expense 187 129 Rem¢asurements- impact of any change in a&sumption5 242 (227) Rem¢asur¢ments- amendments to the contrilyjtion schedule Contributions paid in respect of futtwe seTvice Costs reco8nis¢d in income and expettdilure account ASSUMpfioNS 31 March 2021 /0 p¢r annum 31 March 2020 /0 per annum 31 March 2019 A per annum Rate of discounl 2.53 1.39 The diseoun¢ rates shown above are the equivalcnt single dis¢ount rates which. when used to discount the future recovery plan contributions du¢, would give ihe S1¢ r¢sults as using a full AA corpornt¢ Eond yield curve Lo discouni the same re¢overy plan contribution5. Page 17 continued...
HOME- TART SOLTHW'ARK NOTE TO THF. FIN.4N"CIAL ST.ATE.MF.NTS- continued FOR THE YTr.AR E.N'DTr.D 31 .M.4RCH 2021 MOVEMENT IN FUNDS- eoDtinued Net movetnent in furyjs At 3113121 At 114120 Unrejtrlcted funds General fuThl Designated Contingency 46,581 124.145 170.726 Restricted fundg BBC- Children In Need Big Lottery Fund United St Saviours Charity Grdnt for IndividtEal Familie5 128.381 124.145 252.526 (11.179) (11,356) (2,705) 11.356 2,705 TOTAL FU,YDS 154.752 252 526 Net movement in fund& included in the above are as follows.. Incomirtg resotsrces Resources expended Movcment in funds Unre$tricted funds Gen¢ral fund 132,034 (7,889) 124,145 Res*rirted funds BBC - Children In Need Big Lottery Fund Henry Smith Charity ljnited St Saviour5 Charity Clarions Grdnt for Individual Families London Funde City Brtdge TnE St George the Martyr Swire 41.416 88.232 40.XI 33,169 (52.595) (99,588) {40.000) (35,X74) (4.OIKJ) (11,179) (11.356) {2,705) 31.440 38.601 2.5th) (31.440) (38.601) (2.5(K)) 285 191 311.562 TOTAL FL'liDS 417225 319451 Page 18 eontinued...
HOME-START SOUTHW NOTES TO THE FIi44AN IAL STAT MENTS- continued FOR THE YEAR ENDED 31 MARCH 21121 Is. MOVEMENT IN FUNDS- continued Comp4fAtives for rnov¢meTht in fndS Net movement in fund5 At 3113120 At 114119 UnreJtricted funds Generdl fund Designated Contingency fund 40.5 6,081 46,581 122.31X) 6.081 Ru¢rieted funds BBC- Children In N¢¢d Big Lottery kund Unkt¢d Si Saviours Charity Bump to Babc Projeet Grant for Individual Families 128,381 8.751 185 2,428 11,179 1,357 2.705 (1.236) (216) 928 216 202 130 26,371 TOTAL FUNDS 135 595 154752 Comparative net movemenl in fund& jn¢ludcd in the 4bove are as follows.. Incomtng resources Resources ¢xpended Movernent in funds Unrestrlcted fundj General fund 55.737 (49.656) 6,081 Restrl¢ted fundj BBC - Childrcn In Need Peter Stcbbings Charity Big Lottery Fund Henry Smith Charity lJnitcd St Saviour5 Charity Clarions Bump to Bab¢ Project Grdnt for Individual Families Home-start London 48,062 22.1 (X) 120.183 35,IYK) 20,149 4.832 {45,634) {22,100) (109,011) {]5,0) (21,385) {4,8321 (216) 2,428 11,172 (1,236) (216) 928 928 31 31 251285 238 TOTAL FUNDS 307 022 287 865 Page 19 continued...
HOIVIE- TART SOUTHWARK NOTE FOR TO THE FINANCIAL STATEMEN HE YEAR ENDED 31 fvL4RCH 2021 - e lltinued 15. MOVEMEwf IN FUNDS- eontinued The purpose of each restrirted fund was as follows.. BBC CIN COVID.19 2020 Boost¢r Programme grant to fvnd additionaI OatTing eots to support elll"Idren affe¢d by poverty and deprivatson onlin¢ who ar¢ isolated at home due to Covid-19 - p4id for whole salary of Bump to Babe Coordinator and 10 Im)u of Child Developmeni Practitiorter The Natt'onal Lottery Community Fund Contribution towards Core ¢054 SUp)rt f4milies at homes (interim paym¢n¢ due to Suspension of national gr4nts programme) Henry Smith 3 year grnnt: contri¢10 towards core cos4 support famili¢s at homes United St Saviours 3 year grant.. To support Family Support at Home and Mellow Parenting Programme. In S¢p*mber 2020, USS conv¢rted th¢ grani to unrestrict¢d with eff¢¢¢ frorn 14 July 2020. Unitcd St SaYiours- Southwark Community Christmts 2020 Grant towar(Ls baby pack& gas and cltriC credit and supernthet vou¢h¢rs for vulnerable famili¢$ Unit¢d Si Saviours- Southwark Commwiity Respons¢ FuThJ (Lonth)n Fund¢rs) Wave l of London Funders - grant towards supernLarke¢ vouch¢rs for famrli¢s (Covid response) Wave 2 of London Funders- fundin8 syrnurket vouchers for families, purch of IT equipment for statTand families, purcha of resourcc packs for children, funding for online coufts¢llin8 for par¢nt5. paym¢nt for additional hours for Businc&8 Support Coordinator City Bridge (London Fundffl5) Wave 3 of Lon¢Jon Funder5 - Fundin8 from the TNLCF COVID-19 Response Fund to support recrnrtment and additional hours of exi5tin8 St4ff. Also to provide I[ning for volunteer5 and resourtt Ck5 lor farnilies. St Georgc Martyr Contribution towards th¢ c(6ts of parentsl support ]CeS within St George Maty¢s area of benefit. Adriam Swire Grant towar(& supp)rt for families new to the county. Clarions Funding towards core cots support for Vulnerable families at home. Peter st¢b.8s 3 year grant.. Contribution towards the staff salary (director) and rent costs. Total £64,575. Year 1.. £20,956. Yr 2.. £21 J19. Year 3.. £22.1(K). DCMS Grant from Department for Digrta], cul. Media and Sport (DCMS) via Home-start UK to support mums experi¢n¢ing lonelincss in relation COVIDI9. 16. RELATED PARTY DISCLOSURES Th¢re were no related party transactions for the year ended 31 March 2021. Page 20