." REGISTERED CHARITY NUMBER: 1107413 REGISTERED COMPANY NUMBER: 052393221England and Wales) REPORTOFTHETRUSTEES AND UNAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR .HOME-START SOUTHWARK Accountability Europe Limited Omnibus Workspace 3941 North Road London N7 9DP Wll ADGBLKLM 2111112024 COMPANIES HOUSE A20
ME-START SOUTHWARK coNrENTS OF THÉ FINANCIAL STATEMENTS R THÉ YEAR ENDED 31 MARCH 2024 Page Reportof the Trustees Independent Examlner's Report Statement of Flnanclal Artlvltles Balance Sheet Notesto the Flnanclal Statements 10-19
ME-START SOLIThWARK REPORT OF THE TRUSTE RTHE R ENDED IMAR H 2024 The trustees who are also directors of the charlty for the purposes of the Companies Art 21X)6, present their report with the flnancial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accountln8 and Reporting by Charltles- Statement of Recommended Practice appllcable to charities preparing thelr accounts in accordance wlth the Flnancial Reporting Standard applScable In the UK and Republic of Ireland {FRS 1021 leffertive l January 20191. OBJECTIVES AND AcnviTIES Objertlves and alms a) 'EaYllest Interventlon., Reduce the level of statutory Interyentlon for babies. chlldren & famille5 In Southwark and Lew55ham. b) Community Impact: Greater soclal and economlc well-bein8 for people In Southwark and Lewisham through learnin& vocatlonal and volunteerin8 OPPOrtullitles. cl Sustainabllbty: Sustaln an effertive home.ba5ed family support servlce In Southwark and LewSsham. Sl8nlflcant •ctlvltle5 Home-start Southwark Is an Independent, voluntary organlsatlon whlch work5 towards the Increased confldence and independence of the famlly through providing Individualised home-visltlng sUPPOrt to families wlth children under 5, dellvered by peer volunteers and expert famlly support workers. Home-Start Southwark provldes comprehensive tralftln8 and support to local volunteers. who dellver the home-vlsltln8 servlce. Some of the actlvities we provlde Include.. support and professlonal frlendshlp In the home to help reduce ly)latlon of f•mllles and encoura8e them to ccess activltles and services; Information and encouragement regardlng healthy Ibfestyles to Increase the physical and emotional well-belng of familles,. structured learnln8 through play and posltlve parenting sesslons In the home to 8et chlldren and parents readv for nurseryand xhool: practlcal support and 8uldance needed at the perlnatal stage to help lay a vltal, soclal and emotlonal foundation for the chlld. buildin8 happièr, healthier Ilves and enabling them to achleve thelr full potentlal: help to address families. economic welfare andlor inadequate housing issues; support and encouragement for famllies to address personal Issues that can have a negatlve effect on thelr chlldren's development by accesslng outslde support such as mental health. substance mlsuse. domestlc vlolence agencies: practl¢al support wlth a¢¢ess to allévlate food and fuel poverty. Publlc benefft The Trustees confirm that they have ferred to the Charity Commi551on's general 8uidance on publlc benefit when viewlng our objectives and actlvltie5 and In plannin8 future activities. It is thejudgement of the Trustees that aciivities tft pursuit of the above objectives fully meet the publlc benefit test. whith they have kept in mlnd when planning pro8rammes for the charlty.
HOME-START SO THWA REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charlt•ble ?rtlvltie5 Slnce It was founded in 1995, Home-start Southwark has supported 3,529 families with at least one child undef five vears or expecting a baby and recruited community volunteers to provide home support. From 2020, we began supporting famllles In the London Borough of Lewlsham, alongside our long-standing work in the London Borough of Southwark. In 2023-24, 85 (including 21 newly tralnedl volunteers and 5 Family Support Workers supported a total of 153 families nd 306 children. These famllles have recel¥ed 6-12 months of weekly homfrvlsltlng 5UPPOrt from 3 volunteer or staff member. alongside one or more of the following activities.. Bump to Babe Iperlnatal SUprt for pregnant women and famllles wlth babies under l year I Flnanclal Wellbelng (support with budgeting. maximlsing Income and reducing stress around moneyl Big Hopes 8lg Futures Ischooll nursery readiness support for children 18 months+l Being Together Ilnteractive activities to support child development and parent-child lationshIps) Making it Real (literary and communlcatlon sUPPOrt for 34 year oldsl- from Jan 2024 onward5. As a resuh of our serlice, the majority of our families achieved multiple outcomes and, in many Instances, achleved outcomes th•t were not 0ri8inally identified at assessment. In 2023-24. outcome5 for families supported were: 82.9% of parents were more able to acce55 universal seceS and attend appolntments. 70.8% of Children improved their attendance of positive activitiÈs. 72.3% of familie5 were less isolated 72.5% of parents Increased thelr self-esteem and felt rnore confident and re5111ent. 79.4% of parents ported less stress and auMentS withln the home. 75% of parent5 who have retently expeflen¢ed domestic obuse felt better able to cope wbth Its Impact 85.7% of famllles with multiple chlldren felt better able to balance thelr needs. 81.8% of parents said their parentin8 skills had improved and they were better able to support their children. 54.8% of partts felt better able to mana8e thelr physb¢al health Of Ilve a healthler Ilfestyle 74.5% of parents felt better able to manage their mental health 57.1% of famllles wlth sla1 ca Involvement elther stepped down thelr level of Intervention or felt more able to engage In thelr CIN/ CP plans. 59.1% of parents learned skllls to support them to manage thelr finances SO% of families said they were more able to manage their finances 67.6% of parents felt less stressed about money. 61% of famllles wlth hou51ng problems felt thelr sltuatlons Improved, 44.4% of parents who were worried about their employment status felt more ready for work or study 73.5% of parents reported their child's development or behaviour improved. 80.8% of parents became more Involved In thelr chlldlren's development and learnlng. 75% of parents felt their relationshlp with their child/ren improved. 62.9% of families felt more able to manage the home environment: that it was cleaner. more comfortable or better able to meet thelr needs. 88.9% of parents felt more able to manage thelr chlldlren's physical health needs or that thelr family was adoptlng a healthler lifestyle. 93.3% of parents felt better able to manage thelr chlldlren's emotions or comfort them when they We upset. 79.2% of parents felt more able to keep their children safe from accidents or people that We a risk to them. In addition, of famllles recelvlng Bump to Babe support: • 80% of parents felt better connected to their babies • 83.3% of parents felt more confident In playing and interacting with their babies 91.7% of parents felt rnore able to make confident decisions about their bab$ care. Our projects are co-dellvered by local cornmunity volunteers, and It is essential that they receive high quality trainin8 and support. During 2023-24. we had 85 active volunteers each supporting at least one famlly for slx months or longer.
HOME-STA RÉPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 MARCH 2024 Our volunteers received ongoing support. and we continued their professional development through an ongolng tralnln8 programme. This year we ofFered training In Speech and Language Therapy, Autism training. Being Together, Domestic Abuse. Flnanclal Wellbelng. Aims and Objectives: To develop a 5 year strate8lc plan for Home-start Southwark, Invol¥in8 famllles who use our seNlces, our volunteers, staff and local partnefs, to ensure our vislon, mission, val$ and actlvltles èfe clear and alSgned wlth the needs of the communlty we serve. To develop and embed our commitment to EOI and antl-rac15m, ensurln8 that thls Is reflected In our artlvltles wFth a clear accountsble workplan. To continue to ensure our famlly support staff and volunteers are fully skllled and supported in meetlnB the needs of famllles in Increasin8ly complex sltuatlons In Ilne wlth safeguardln8 requlfements. For our 8rowln8 work in Lewlsham to be reflected In re-launchln8 our name as Home-start Southwark & Lewlsham. To diversify 5U5tainable fundlng sources - statutory, 8rants, donatlons. corporate.sponsorships, fundln8 In kind through community relatlonshlps- enabllng long-term security of dellvery. To raise our profile to enhance volunteer recruStment, appropriate referrals, and donations, and better express the impart of our wor Actlvltles- we wlll g¢hleve these alms and objettlves bv: Sharlng an away day and serles of workshops to Include the Board, staff, volunteers and famllles and partners to inform our strategic plan. Re.establlshing an ÉDI tasklorce to lead our work-plan •nd hold It to account. A training and skills audit for famlty sUPPOrt staff and volunteers, including consultation. A revlew of cllnlcal and case supervision provlslons to ensure these a best meeting the needs of the team to support families sèlely whlle malntainlng thelr own well-being. Review our 8overnlng documents to enable us to change our name and area of benefit and ensure that these documents reflect best practlce In 8overnan¢e. To revlew our fundraislng strategy In order to best prioritlse our fundraislng efforts For the Fundraising sub-group to meet regularly wtth a widened and focu5 their efforts on fundralslng throu8h events, donations. sponsorships etc. For the Senlor Leadership Team to develop our offerl ask of local corporates to ensure we are creating as optimum opportunlty for engagement le8. corporatel expert volunteering. payroll givlng, Sponsorship, events, donaiions etcl. To develop our soclal medla actlvlty to 8row our onllne presence and ensure the messaglng reflects our actlvlty. To plan and dellver promotlon and celebratlon of our 30 anniversary in 2025. To continue to attend and contribute to local and national multi-agency forums and work5tream5 relating to family 5UPPOrt and early years development. to ensure the profile of Home-start Southwark is raised and the voice of famS1ies supported 15 heard. Home-start Southwarvs trustees have deternilned the future plans and directlon of the charity along51de the Senlor leadershlp and wlder team of staff and volunteers In the context of socieLIl and organlsatlonal change. Our consultètion and dirert work wlth families show5 US that children's ènd parents. needs are becoming increasingly multl-dimensional and complex over time, wlth support Services increasingly stretched. The funding environment Is increa5inglv challenging and competitive. Our plans above reflect this learning and context and we wlll continue to listen to our community and allocate effort and resource5 accordingly.
HOME-5TART SOUTHWARK REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 MARCH 2024 FINANCIAL REVIEW Financial positi¢)ft Details of Home.Start Southwark'5 revenue and expenditure for the year under revlew and the previous year are shown on page 8 of the Financial Statements. We are pleased to report the Home-start Southwark 2023-24 results. Our total fundin8 for the year was £337.695. a decrease of 25.8% compared to prior year. and our'total resources expended. for the year was £385,458, a decrease of 3.3%. Resultant 'net expenditure, for the year was £47.763 decreasing fund balances carried forward as of 31 March 2024 to £228,689. Grants Our key grants this year Included funding from the following charitable orEanisations- The Ellzabeth & Prlnce Zalger Trust 2,000 The Henry Smith Charity 54.700 The Peter Stebblngs Chorlty 10,000 BBC- Children In Need 10.000 The Bi8 Lottery Fund 98,043 United St Saviours Charlty 30.000 Peter Minet Trust 15,000 Southwark Councll 40,(MYJ Lewlsham Council 20,IJOO The London Community Foundat5on Havln8 recognlsed the value of our servlce offerlng5. the powerful Impact of our work on our Communlty and our future ambition. Home-start Southwark has been successful In 5ecurln8 funding from a number of these charltable or8an15atlons through their formal bld procosses on more than one occaslon. As a Trustee body and Management committee we are extremely 8rateful for this level of reco8nltlon and continued support. Thank you. In addition to these grants. we are hugely grateful to our generous benefactors Jnd prlvate Indlvldual donors who rQgnIsed the on80in8 Importance of our work and continue to support us. Despite the ongoing support of existlng donors, the funding cycle perpetuates and one of our key priorities remalns to seek to secure new and replacement funding whilst also maintaining close control of our expenditure. New and placement fundlng is qUired to cover both our existlng project dellvery and core costs such that we can contlnue to provlde high quality tralnlng to our volunteers and exceptlonal seThice dellvery to the famllle5 in our communlty in need of our support as well as in order for us to meet our buslness plan goals and secure our long-term future. Openlng funds balance.. £276,449; Closlng Funds Balance.. £228,689. Reserves pollcv The Management Committee has a8reed a fomial polky on reserves whlch requlre that; ReseNe5 are malntalned at a level of whlch ensure5 that Home-siart Southwèrk has sufflclent resource5 to contlnue its core activlty lon a 5hort-term basis) in the event of unforeseen circumstances such a5 a reductlon or cessatlon of fundlng. b) The trustees have reviewed the charity's need for a reserve and agree the appropriate level. This will be In line wlth the annual review of thls pollcy. latest le8lslative requlrement5 and best prattice advke by the Charlty Commlsslon and Home-Start UK. The level of reserves in thls fund at 31 March 2024 was £81,80012022123: £81,800}.
HOME.START SOUTHWARK REPORT OF THE TRUSTEES FOR TH YEAR ENDED 31 MARCH 2024 sTrucruRE. GOVER14ANCE AIID MANAGEMENT Governlng d0Me"nt Home-start Southwark was incorporated as a Company limited by guarantee on 23rd September; 2004 Icompany Number 52393221- The company Is gIstered as a Charity with the Charlty Commisslon Iregistratlon number 11074131. The chadty was estsblished in 1995 and was previously ogistered with the Charity Commission under the re8lstrètion number 1048969, The Trustees meet quarterly to ensure the tompliance wlth the Memofandum and Articles and the policies iii Hoff*- Start Southwark. The day-to-day operation wlthin the pollcles, forward plan and budgets are delesated to the CEO and the Operations Mana8er. Underthe Memorandum & Articles of Association the Trustees appolnt the offlcers of the charlty Ichalr an(1 Treasurer). The Trustees accordln8 to the Articles of Assoclatlon are elected èt the Annual General Meetlngs. The Trustees may c¢> opt any person duly qualified to be appointed as a Trustee and that person wlll hold office until the next AGM. REFERENCE AND ADMINISTRATIVE DAlL$ Re8lstered Company number 05239322 (England and Wales) Reglstered Charity number 1107413 Rellstered offlce Canopi 7.14 Great Dover Street London SEI 4YR Trustees O O Adeoye lappointed 3111120231 A P Baddeley Ireslined 3111120231 C Cary Iresigned 3111120231 N S Doble A P Gardlner {res18ned 1214120231 CDGKing J Lusby lappolnted 151212024) S McGee Ire51gned 3111120231 S Messenger (resigned 3111120231 C E Moxon T Popova R E Vemezza C Vela5co Lopez {appointed 3111120231 A A Willlams- Chair l M Evans- Tasrer (reslgned from the role 1210712024) C•mpany S•cr•tary K K Hajduk Independefit Examlner Accountabillty Europe Limited Omnibus Workspace 3941 North Road London N7 gDD
MOME-START UTHWARK REPORT OF THE TRUSTEES FOR THE YEAR ÉNDED 31 MARCH 2024 Bankers CAF Bank Ltd 25 Klngs Hlll Avenue King5 Hill West Malling Kent ME19 4JQ Appro d of trusiees on 23.ILol2DZ.Y... and sl8ned on its behalf by: Concepcion Lopei - Tw5tee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTE HOME-START 50UTHWARK SOF FOR THE YEAR ENDED 31 MARCH 2024 I report to the trustees on my examination of the accounts of The Home-Start Southwark for the year ended 31 Marth 2024. RESPONSIBILMES AND 8ASIS OF REPORT As the charity's trustees of the Cofflpany (and also Its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordan with the requirements of the Companie5 Act 20061'the 21x16 ACVI. Having satlsfied myself thatthe accounts of the Companyare not requlred to be audlted under Part 16 of the 2006Art and are eligible forindependent examination, I report in respertof myexamlnation of your charlty's accounts as carried out under sertion 145 of the Charities Act 2011 {'the 2011 ACYI. In carryin8 Out my examinatlon I have followed the Dlrectlons given by the Charity Commission under seLtion 145151 {bl of the 2011 Act. INDEPENDENT EXAMINEWS sfATEMENT Since the Company's 8r05s income exceeded £250,01)O, I confirm that l am qualified to undertake the examlnatlon because l am a member of the ICAEW, which Is one of the listed bodles. I have completed my examination. I confirm that no matters have come to my attention in connertion wlth the examination glving me cause to belleve: accountin8 records were not kept in respect of the Company as required by sertion 386 of the 2006 Act; 2. the accounts do not accord with those records; or 3. theaccounts do not complywith the accounting requirements ofsection 396 of the 2006 Act otherthan any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prattice for accounting and reportln8 by charities applicable to charitles preparlng their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come acr055 no other matters in connection wtth the examlnatlon to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Aamer Shehzad FCA Accountability Europe Ltd Omnibus Workspace 3941 North Road London N7 9DP Date: 11 Lg
HOMETART SOUTHWARK Statement of financial activities (incorporating an inccxne and expenditure acu>unt) For the r ended 31 Mah 2024 2024 Totsl Unrestricted 2023 Total Unrn•trlctsd R•8tr4¢ted R6slri¢tèd Not• Income from: L)onats'on$ and lega¢ie$ Charitable activities 33.358 15,524 48.882 266,243 288.243 570 61,102 281,351 61.102 22.Ch)O 112.014 393,365 Investment InM0 570 Tolal Incomo 55.928 281.767 337.695 342,897 112.014 454.911 Exp•nditur• on: Charitable activitie$ 113,377 272,081 38S,458 296,692 101.948 398,640 Totsl oxp•ndltur• Nfrt incom*1 {expenditurn) for the year 113.377 272,081 385,458 296,692 101,948 398,640 157,449) 9.686 147,763) 46,205 10.066 56,271 Tfansfers behveen funds N•t movement In Ivnd• 1S 157A49 9,686 147,7631 46,205 10,066 56.271 R•conciliation ol funds: Totsl funds brought fOard 26S,483 10,966 276,449 219.278 900 220.178 Total lund8 carriod fonvanl 208,034 20,652 228.686 265,483 10,966 276,449 All of the above results are derived from cont5nuing activities. There were no other recognised gain5 or1088e8 Other than those staled above.
HOME4TART SOUTHWARK Balance sh•et Company no. 05239322 AS at 31 March 2024 Unre8tr1cted funds Re8trfcted 2024 Tolal funds funds 2023 Total funds Flxed a88ets: Tangible assets 11 570 570 Current ass•ts: Debtors Cash at bank and in hand 12 8,212 207,314 8,212 272.314 33.132 324.065 65,000 215.526 65,000 280,626 357,197 Llabilitl••: Creditors: amounts falling due wrthin oné year 13 17,492 144,348) 151,840) {81.318) Net current a888t8 208,034 20,652 228.686 275.879 Tot•1 not as8•ts 208,034 20,6S2 228.686 276.449 The funds of th• ¢haiity: Restricted funds Unrestricted funds: General funds 13 20,6S2 20,662 10.966 208.034 208,034 265,483 Totsl charlty fund• 208.034 20,6S2 228,688 276.449 For Ihe year ended 31 March 2024 the charltable company was entitled to exemplion under section 477 of the Companies Act 2008 relating to small companies. No members have required the company to obtain an audit of Its accounts for the year in question in accordance wilh secllon 476 of the Companies Act 2008. The directors acknowledge their responsibilities for complying with the requirments of the Companies Act 2006 wilh respect to accountlng records and preparation of accounts. The financial statements have been prepared in accordance with the special provisions applicable lo companies subject to the small companies regime. Approved by the trustees on L 3 and signed on Iheir behalf by: Concepcio The attached notes fomi part of the financial ststeménts.
HOME4TART SOUTHWARK Notes to the financial statements For the ear ended 31 March 2024 1 Accounting polici•s Statutory inforniation Hofftrstart Southwath is a charitable company limited by guarantee and is incorporated in England and Wales. The re9iSterod offi¢0 address is 7-14 Great Dovor Street Lt)ndon SE14YR. Basis of pwep•ratit>n The finan81 statements have been prepared in accordance wtth Accounting and Reporting by Charitres.. Statement of ReComnded Pract¢c£ applicable to charrties preparing their accounts in accordance wrth the Financial RepO"n9 Standard applicable in the UK and Republi¢ of Ireland IFRS 102) - (Charities SORP FRS 1021. the Financial Reporting Standard applicabl8 in the UK and Republic of Ireland {FRS 102) and the CoMp8n8 Act 2006. Public benefft enlity The charitable company meels the definition ol a publi¢ bonefrt entity undor FRS 102. Golng concern The INslees ConSer that there are no material UnrtaInlieS about the chafitable company's ability to continue as a 90ing ¢onc¢m. The tntste85 do not conslder that Ihere aro any sourcas of e$tim8tion uncertainty at th• reportiftg dat& that have a significant risk of causing a rnalerial adjustment to the carying 8mounts of assets and Iiabilrt¢es within the next reportlw period. In¢om• Incom8 is recognised when the charity has entitlement lo the funds. any performanr conditions attached to t Income have been met. tt 1$ probable that the incom8 will be 1ved and that the amount can be rrasured reliably. Income from governThnt and other grants. whether 'capital' grants or'revenue. grants. is re¢¢wJnised when the chanty h88 entitlement lo the funds, any p8rformane ¢oftditions attached lo the grants have bean m&t. it18 probable thal the In¢om¢ will be received and the amount Can be measured reliabty and 1$ not deferred. In¢orn receNed in advance of the provision of a specified seTrice is doferred until the Griteria for Ir)mO recognition Oonation8 of glft8, 8ervlces and fa¢ilitio8 Donated professional Jervi¢•$ ond donated facilities are rgcognised as income when the charrty h&s control over the Item or reGerved the servlrA, any Gondilions associated with the donation have been met. the receipt of economic benefrt from the use by the charity of the rtem is probable and that economic benefit can be ffwasured reliably. In 8CCQTdance with the Charilie¥ SORP IFRS 102}, volunitsr tim• is not r•cognised so rnf8r to tho Iru8tees' annual report lor more information about their contribution. Inl•rn•t r•¢•lvab Interest on funds h8kl on deposlt18 Induded when receivabl8 and tho amount can ba measured r•ll•bly by the charity: this is nonnally upon notrfication of the interest Paid or payable by the bank. Fund accounllng Reslricted funds are to be used for specific purposes as lakd down by the donor. Expandire lch meets th8S8 crileria 1$ ¢harged to the fund. Unrestricted funds are donation$ and other In¢omlng resour received or generated for the ¢harllable purpo. Exp•nditur• Expenditure is recognoed once thore is a legal or construG*ve obltgation to make a payment to a third party, it is probable th8t settlement will be required and the amount of tho obligation be measured reliably. Expenditure on charitable aclivits'es indudes th8 costs of providing legal advi and 4$$i81an¢e undertaken to further Iho purposes of the charity and their associated support costs. Tangibh flx•d as•ets Itoms ol equipment afe capitalised where the purchase pric• exceeds £500. Depreciati is prov¢ded at rates calculated to write down the cost of ea¢h asset to its estimated residual value over its eypecled useful life. The depreciation rate¥ in use are as follows.. Computer equipment 33% on cost for 3 years 10
HOME-START SOUTHWARK Notes to the financial ststsmenis For the ear ended 31 March 2024 l A¢counting policies (¢onlinuedl Allocation of support ¢ost• Resources expended are allocated to the particular activity whore the cost relates dlredly to thal activty. However. the cost of overall direth'on and administrats.on of each activty, comprising the salary and overhead $t5 of the central 1ction, is apportioned on approprie basi$. Ca•h at bank and in hand Cash at bank and cash in hand includes cash and short tenn highly liquid investments with a short malurity of three month$ or less from the date ol ac4ui$ition or opening of the deposit or similar account. Cash balances excludè any fund8 hetd on behalf ol $8Thice users. Cfèdltovl and provl8lon• Creditorn are recogni$ed where the charrty h86 a present obligation resultin9 from a past ovenl Ihal will probably r•$utt in the transfer of funds to a third party and the amount due to settle the oblwation can be wasured OT estimatod Yeliabty. Creditors are nomialty recognised al their settlemènt amount after allowing for any Irade discounls due. The chorlty only has flnandal assets and flnancial Ilabilllies ol a kind that qualify as basic financial Instnjmenls. Basic financial instruffents are initially recognised al transadion value and subsequently measured at their settlement value wrth the exception of bank loans whieh are subsequently rnasured al omorti8ed ¢ost u8Sn9 the effè¢tive interest method. Taxatlon The Chafty 1$ c4nslderod to pa88 th• tests 88t out In Paragraph 1 Sch•dule 6 Finance Act 2010 and theiefore it meets the definition of a ¢haritable Company lor UK Corporation lax purposes. A¢wrdingty the Charity polentialty exempt from taxation in respect of income or capitsl gains I1Ved wthin categories ¢overed by hapler 3 Part 11 Corporation Tax Act 2010 or Sectton 256 of Ihe Taxation of Chargeable Gains Act 1992. to the extent that Such income or g•in$ are applied exdusively to ch8Trtable purp08•S. Pen8ion costs and oth•r po8t4•lir•m•nt boneflts Homtrslart Soulhwart( path'cipo19s in the Pansion Trust Th• Grh Plan (the "sch•m&"), a employer 8¢heme which provides benefits 10 60m8 950 non-as80cialed partiejpating employers. The schemo 1$ a defined benefrt scheme in the UK. It is not possible for Home-slart Southwark to obtain sufficient information to enabl8 rt to accounts for the 8them8 as 8 defined benefit herne. Thereforè. it a¢¢knunts for the scheme as a defined ¢onlrlbulion 8¢hem•. The scheme is subject to the funding legislation outlined in the Pensions Acl 2004 which came into force on 30 December 2005. Thls, together wrth document5 issued by the P¢n8ion$ Regulator and Technical Actuarial Standards Issued by the Flnancial Reporting Council, sei out the fTam6work lor funding defined beIrIt occupab'onal pension schemes in the UIL Tho scheme is classified as a 'l85t-man Standing arrangeThnf. Therefore. the company is potenlialty liablo for other participaling employers. Ob1JationS rf those employers are unable to meet their share of the scheme doficil following wrttHlrawal from the scheme. Participating employers are legalty required to meet Iheir shares ol the schème deficit on an annuty purchase basis on wilhdrawal frMI the $ch•m•. ease see note 16 for further disdosures Telating lo the schern8.
HOME4TART SOUTHWARK Notes to the financlal statements For the ar ended 31 March 2024 2 Income from donations and Legacles 2024 Total 2023 Total Unreslricted Restricted Donations Gift Aid Oiher Income 29,506 852 3.000 15.524 45,030 852 3,000 48,882 55,512 470 5,120 61.102 Donations received, Included in the above, are as follows.. 2024 Tolal 2023 Total Marquesado Ltd T Colclough Private donatsons and online giving Charitses Trust 15,624 1.660 27,946 42.197 1,540 9,675 2.100 55.512 4S,030 3 In¢ome fvvm chafllablo acOvltlo8 2024 Totsl 2023 Total Unrestricted Restricted Chanlable activitie8 22.000 268.243 288.243 393,365 Total income from Charilable adivities 22.000 266.243 288,243 393.365 Grants e£l¥ed, induded in the above, are as lollow8: 2024 Total 2023 Total Unrestricted Restricted The Elizabeth & Printx Zaiger Trust The Henry Smith Charity The Peter Stebbings Chanty BBC - Children In Need The Big Lottery Fund United St Saviours Charity Peter Minet Trust Art>uthnots Other grants < £2.000 Impact On Urban Health Garfield Weston Soulhwath Council Good Agency Home Start UK Lewisham Council The London Communty Foundaliori Community Southwark Improving Health Ltd 2,000 2,000 64,700 10,000 10,000 98,043 30,000 15.000 2,000 93.900 10,000 10.500 127.596 43,853 30.000 6.250 620 9.146 20.000 25,000 3,000 11,500 $4,700 10,000 10,000 98,043 30,000 15,000 500 500 40.000 40,000 20,000 20.000 5.000 2,000 1,000 288.243 5.000 2,000 1.000 266.243 22,000 393.365 4 Income from Investments 2024 Totsl 2023 Total Unreslricted Restricted Interest Inme 570 670 670 670 444 12
HOME4TART SOUTHWARK Notes to the flnanclal statements For the ear ended 31 March 2024 5 Anatysis of expenditure Cost of Charltablo ralslng funds a¢tlvitles Support 2024 Total 2023 Total Slaff costs (Note 7) Administrative Cosl Independent examination Deweriatlon 326,500 57,488 326,500 $7,488 900 S70 329.818 65.423 2,500 899 900 570 383,988 1.470 385,458 398,640 Support costs allocation 1,470 (1,470) Total exndItur0 2024 385,458 385,458 398,640 Of the total expenditure. £113,377 was unrestricted (2023.. £296,692) and £272.081 was restricted {2023'. £101.958). Anaty818 of expendlturn- prlor yoar Cost of ralslng funds Charttoble actlvltlgs Support cos1$ 2023 Total Staff costs {Note n Administrative Cost Independent examination. Depreciatlon 329,818 65,423 329,818 65,423 2,500 899 398,640 2,500 899 3,399 (3,399) 395,241 3,399 Support costs allocation Totsl expenditure 2023 398,840 398.640 13
HOME4TART SOUTHWARK Notos to th financial ststements For the ear ended 31 March 2024 Net incomel (expenditure) for tho y•ar Th18 is ststed after charging i txedrting: 2024 2023 Independent examiner fee (Excl VATI Oepreciation 760 570 2.500 899 An•ty81• of •t•ff oo•ts. tru•tee rgmun•rallon and •xP•n. and th• cost of koy m•na9•m•nt OnTr•I Staff ¢osts wwe as follows.. 2024 2023 Salaries and wages Social security ¢o$t8 Employerfs conlribulion lo defined conlrlbution pension schemes 297.036 22,739 6,T25 297.698 25,526 6,594 326,600 329,818 No employee &amed nKtre than £60.000 during tho year12023.' nill. The tolal employee benefits including pension contributions and employer Nl o)ntribution of the key management personnel w&ie £57,121. (2023.. £59,482). The charity trustees weve not paid or received any other benefts irom eMploynl with the Charity in the year 12023.. £nil). No ¢haflty tru$te6 reei¥ed payment for professional or other 68niiees supplied to tha charity (2023.. £nill. Staff The average numb8T d employe89 (head Munt ba88d on number of staff employed) during the year was a¥ follows: 2024 No. 2023 Average staff 10 10 R•lat•d party IranMclion8 There ar• no r¢l8ted paty If8n$a¢tlons to di8¢lose lor the year12023'. non•). L•gal •tstu• of tho ¢rIty The chwty is a company limited by gu•ranteo and has no share ¢apltsl. 10 Taxatlon The charitsble company is exempt from corporation tax a$ al its income is charitable and 15 applied for haritable purposes. 14
OME4TART SOUTHWARK Notes to tho financlal $tatwn•nts For the oar ended 31 March 2024 11 Tangible fix•d assets Computer equipmenl Tolal Cost Al the start of the year At th• •nd of th• y•ar Deprgciatlon At the stsrt of the yaar Charge for tho year At th• •nd of th• y••r 2,$57 2.6S7 2,5S7 1.987 S70 2,657 670 2,567 N•t book value At the end of th• y••r Al the start of th¢ year 12 D•btorg 2024 2023 Other debtors Prep8ymént8 arKI Accrued Incom• 3,990 4,222 29,142 8,212 33.132 13 cr{torS. amounts falllng du• withln on• year 2024 2023 Social security and other tsxes Other ¢dItOrS Defined benefrt penslon contrlbutions Deferred incor Ac¢rued expenses 1,8J7 239 1,625 545 75.000 4,148 6,396 61,840 81,318 Deferred income Comprises of grants received in advaneA for the nexl year, 14 An•110 of n•t a•sets b•twoen fund• l¢urrent yr General unrestricted Restriclod Total funds Tan9ibl? fwed assets Net currenl assets 208.034 20,652 228,686 N•t as86t8 at th• end of lh• y•ar 208,034 20.652 228,686 15
HOME4TART SOUTHWARK
Notes to the financial slatsments
For the
ear ended 31 March 2024
Anatygls of net a88ets between funds Iprior year)
General
unrestricted Restricted
Totsl.
funds
Tangib fixed assets
Net ¢urrent assets
570
264.913
570
275,879
10,966
Net assets at Ihe end of th8 year
265,483
10.966
276,449
15 Movem•nts in fund8 (currnnt y••r)
At the start
of the year
At the end
of the year
Income Expenditure Transfe
Restricted funth '
BBC-Chiidren in need
Big Lottery Fund
Henry Smith Charity
Home Start UK
southwa Council
Impact On Urban Health
USS Grant
Lewisham Council
Marquesado Ltd
Improving H881th Lld
Communty Southw8rk
The Peter Sleb.n9s Char
Total rn•trl¢t•d fund•
10,IY)O
98,043
54.7(K)
{10.000)
{97.391)
143,1511
{2.515)
140.000>
(500>
130,0001
120.0001
115.S24>
{1,000)
{2.000)
(10.000)
272,081
652
20.000
8,451
2,515
40,000
500
30,000
20,000
15.524
1,000
2,000
10.IxIO
281767
20,652
Unre8trlctsd fund•:
General funds
Designated Contingency furKI
ToLIl unrostrict•d funds
183.883
81.800
265,483
55.928
{113.377)
128,234
81,800
208.034
55,928
Tolal funds
276.449
337,695
385.458
228.686
Movem•nt8 In funtjs (prior ytrafl
Al the 8tart
of the year
At the end
of the year
In¢
HOME4TART SOUTfrIWARK Notes to the flnaftclal Statements For tho ar •ndod 31 March 2024 Th• purpom of •ach r••trlet•d lund was a8 lollows.. Southw•th Councll - to provide early support to families oxperiencing a wide rango of dfficulties such as Isolation, low selfesteem. mental health issues and a need for improved parentsng $kills.' to engage th farnilies living in Southwark who have been negatively affected by the pandemic.. lo consult with them to identify new or eseal•ling Challonys they are faclng and work out what we can put in place to botter mt these needs. Impa¢t on Urban H••lth - to or9anis8 Outdoor summer activities for local famllies furthering thé purposes of health services, securing improvement in the physical and mental health. Honry Smith - multyear grant.. Contribution towords o)re co$1, support IBmilie8 at homes. Tlw National Lottory Communty Fund- mulb'yaar grant.. Conlribution towards eore c4)81, support fam111 at homes. Unltsd st 8vlour•- multiyear gr•nl,' Contribution towards corn cost. wpport f•mili•s al homos. Partn•r4hlp Southwark- social prescribing funding. Improvlng Health Ltd to help improve immuni$8tion rates by Identying rf lamilies need support with accessin9 health servi(%8 and supporting them in overcoming the barriers. southwa Councll (REAL progrnmme)- to support families in Southwark with children preschool age wilh 'Making ft Rft•f Home Learning Provision. 88C CIN- Conlribulion towards staffing Costs ol an existin9 Lewisham Family Support Coordinalcr. P•tsr St•bblng• Charlty- Contributs'on8 toward core co8t8. 3UPPOrting famllios at homes. L•wl•hirn Council - lo delivèr t8rg8ted parenting $upport in the homo envlfonmonl, to train and support local parents to become volunlears, lo inte9rate the seNice into the Lewisham Family Hubs and Early Help partnership. 16. Emplo B•n•fft Obllgatloft8 The company partiwates in the s¢hern?, a mulli4mploy•r scheme which provides beneflts to soff 638 non-associated participatsng employers. The scheme 1$ a defined neffi scheme in the UK. It is not possible for the company lo obtain suffi¢nt information to enablo it to account for the sthema a$ a definod benefrt scheme. Therefor8 it a¢¢ounts for the scheme as 8 defined contribution sch8rne. The Scheme is subject to the lunding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documenls issued by the Pensions Regulator and Technical Actuarlal Standards i86ued by the Financial Reporting Couniil, sot out the framèwork lor funding defined bénefrt occupational pension schemes in the UK. The s¢hème 1$ dassified as a 'lasl.man standin9 arrangement,. TrefOre the company is potentialty li8ble for other partiapating employers, obligations rf those employers are unable lo ffet their share ol the scheme deficit following withdrawal Irom the scheme. pa.patIng employers are ally required to meet their share of the scheff* deficit on an annuity pur¢hase basi3 on withdrawal from Ihe scheme.Participating employers are Jegally required lo me81 their share of the scheme deficst on an annuity purchase basis on withdrawal Irom Ihe scheme. A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assèts of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminale this fundin9 shortlall, tho Trustee has asked the parb'ripating employers to pay additional ¢ontribulions to the as follows.. Deficft Contrlbution8 From 1 April 2022 to 31 January 2025.. £3.312.000 per annum (payabl8 monthly) Unless a concession has been agreed with the Trle? the term to 31 January 2025 applies. 17
HOME-START SOUTHWARK Notes to tho finaneial 8tat•m•nts For the ear ended 31 March 2024 Note that the schem's previous valuation was carried out with an effective date of 30 September 2017.Thi$ 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 partIpating employers to pay additional ¢onlributions to the scheme as lollow$' Deficit Contributio Fiom 1 April 2019 to 30 September 2025.. £11,243,000 per annum (Payable monthly and incraasing by 3% each on Isl April) The rec¥)very plan contributions are allocated lo eath participating employ•r in line wlth Iholr estimated Share of the Senes 1 and Sertes 2 scherne liabilibes. Whern the s¢heff is in defipit and where the rAxnp8ny has agreed to a deficit funding arrangement the company recogni5es 8 liability lor this obligallon. Th8 amount recognised is the nel present value of the deficit reduction contributions payable under the agreement that relates to the deficrt. The present value is alculated using the discount rate detailed in these di5c105ures. The unwirKling of the discount rale is reco9nised as a financ c08t. PRRESENT VALUES OF PROVISION 31 March 31 March 20241£8} 2023l£s) 31 March 2022(£s1 Present value of rDvision 255 545 855 RECONCIUATION OF OPENING AND CLOSING PROVISIONS P•rlod Endlng P•rlod Endlng 31 March 31 March 2024 2023 1£$) 1£$) 545 855 Provision at start of riod Unwindin of the discount faclor interest e en8e 21 16 Dèf¢cit contribution id {3111 1311} Remaasurements - im act of an chan e in assum lions (151 Remeasuremenls - amendments lo the contrlbution schedule Provision at end of Tiod 255 545 INCOME AND EXPENDITURE IMPACT P•rtod Ending Period Ending 31 March 31 March 2024 2023 £$ £8 Interest e nse 21 16 Rem8asuTemenls- irn tofan than 8 in 8¥8um liong (151 Remeasuremenl$- amendments to the contribution schedule Contribution6 aid in r86 ect of future service. Costs nised in income and e Ddit a)Unt "indudes defined contribution schemes and future service wntributr.ons li.e. exduding any deficit reduction payments) lo defined benefit schem&s which are treated as defined contribution sCheTr. To be Completed by the company. 18
HOME4TART SOUTHWARK Notes to tho finan¢lal statements For the oar end 31 March 2024 ASSUMPTIONS 31 March 2024 %per 31 March 2023 %per 31 March 2022 %per ..Rate ol discoynt 5.31 5.52 2.35 The discount rates shown above are th• equlvalent 8lngl8 discount rates vthich, when Used to discount tho future recovery plan contributions due, would give the same results as using a full A4 corporate bond vield curye to discA)unt the sam& ffj¢overy plan contribution 19