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2025-03-31-accounts

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

Company Registered Number 5385393

HOME-START WATFORD AND THREE RIVERS

DIRECTORS’ REPORT AND FINANCIAL STATEMENTS

FOR YEAR ENDED 31 MARCH 2025

Charity no. 1108847 Company no. 5385393

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS A COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2025 _______________

Contents
 Pages
Company Details 1
Report of the Directors:
 2 - 4
Structure, Governance & Management
Risk Policy
Statement of Directors’ Responsibilities
Activities
Pay Policy
Future Plans
Report of the Examiner
 5
Statement of Financial Activities
 6
Balance Sheet
 7
Notes Forming Part of the Financial Statements
 8 - 21

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31st MARCH 2025

Directors: Sharon Bailey (appointed 22/07/2024)
Simon Boulcott Chair
Kam Johal
Sarah Joy
John Robinson
Alan Newman (appointed 22/07/2024)
Laura Sugrue (appointed 25/09/2024)
Anne Lawn (resigned 17/04/2024)
Glen Saffery (resigned 16/06/2024)
Simone Collins (resigned 23/10/2024)
Claire Buckland (resigned 26/03/2025)
Bernie Coleman (resigned 26/03/2025)
Secretary: Karen Watkin, Director of Operations
Registered Office: The Lord-Lieutenant’s Charity Hub
6 Hercules Way
Leavesden
Watford
Herts
WD25 7GS
Safeguarding Advisor: Laura Sugrue
Independent Examiner: David M Green FCA
Gowers Limited
The Old School House
Bridge Road
Hunton Bridge
Kings Langley
Herts
WD4 8SZ
Bankers Lloyds TSB
Intu Centre
Watford
Herts
WD17 2UB

1

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS A COMPANY LIMITED BY GUARANTEE

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31st MARCH 2025

The Trustees have pleasure in submitting their report together with the financial statements for the year ended 31 March 2025. These financial statements comply with current statutory requirements and the requirements of the Charity’s governing document.

Structure, Governance & Management

Home-Start Watford and Three Rivers (HSW&TR) is a registered charity - No. 1108847 and a Company Limited by Guarantee - No. 5385393, registered in 2005. The charity has no share capital and is governed by its Memorandum and Articles of Association.

The policy, strategy, and general management of HSW&TR is directed by the Board of Trustees who are the Directors of the Company and who meet at least every two months recognising that they are required to meet no fewer than four times in each financial year. The Board of Trustees is supported by professional Advisers with an interest in the welfare of families and young children. The day-today management is delegated to two Directors who support and supervise a team of salaried staff. The Objects of the Charity are carried out by staff and trained volunteers, who are parents, offering regular support, friendship, and practical help to families under stress, primarily in their own homes, and sometimes in support groups, helping to prevent family crisis and breakdown. Volunteers are supported, trained and supervised by the team of experienced staff.

The Memorandum and Articles of Association require the Board of Trustees to comprise between 4 and 12 Trustees who are formally appointed by the membership at AGMs. Trustees may co-opt other Trustees who will only stand in office until the following AGM when they must be formally put forward for election if they wish to remain in office.

The Trustees holding office in the year to 31st March 2025 are detailed on Page 1.

The Trustees of the Charity have no interest in any contract with the Charity nor do they receive any remuneration for their service.

Membership of HSW&TR is open to any individual or organisation interested in promoting the charity’s Objects who applies to the Charity in the manner required and approved by the Trustees. HSW&TR has a comprehensive equal opportunities and diversity policy, which ensures that all staff and volunteers are recruited regardless of ethnicity, religion, age, gender, or sexuality. We also strive to accommodate those with physical difficulties. Families are supported regardless of ethnicity, religion, age, gender or sexuality of the parent(s). A regularly monitored community profile ensures that volunteers are proactively encouraged from all sectors of the local community.

Although HSW&TR is an independent charity, as a Home-Start organisation we are affiliated to the national body, Home-Start UK; a Charitable Trust founded in 1973. Over 180 Home-Start schemes may be found throughout the UK, each an independently registered charity, funded and managed locally. Home-Start UK supports local schemes by providing services such as training, information and legal and safeguarding advice. Home-Start UK also defines quality standards for service provision. Each scheme works within Home-Start UK Standards and Methods of Practice, which are regularly audited against a set of rigorous criteria covering all aspects of governance, management, and financial controls.

2

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS A COMPANY LIMITED BY GUARANTEE

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31st MARCH 2025

Risk Policy

The Trustees conduct regular reviews of the major risks to which the Charity may be exposed. Where appropriate, systems or procedures have been established to mitigate and minimise identified risks by implementation of procedures, including authorisation of all transactions and projects. Procedures are in place to ensure compliance with all statutory requirements including, employment law, health and safety of staff and volunteer, and data protection. A Safeguarding Policy is in place and Disclosure and Barring Service checks are carried out on all volunteers and employees who are likely to come into contact with vulnerable children or adults.

Statement of Trustees ’Responsibilities

The Trustees are responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the Charity and of the profit or loss of the Charity for that period. In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and that enable them to ensure that the statements comply with the Companies Act 2006 and accounting statement FRS102. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Activities of the Home-Start Watford and Three Rivers Charity

The Trustees of HSW&TR with the support of its staff aim to ensure that:

3

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31st MARCH 2025

Fundraising Activities

The Charity’s fundraising activities are community based.

Pay policy for senior staff

The Board of Trustees and the senior management team comprise the key management personnel of the Charity, responsible for directing and controlling, running and operating the Charity on a day to day basis. All Trustees give of their time freely and no Trustee received remuneration in the year. Details of Trustees’ expenses and related party transactions are disclosed in note 13 to the accounts. The senior management remuneration is set by the Trustees and is reviewed on an annual basis as part of the budget setting process.

Outcome for 2024-25

The year to March 2025 has seen a great turnaround in the financial fortunes of Home Start Watford and Three Rivers with some fantastic results in fundraising during the year. The new management team have refocused the Charity and enabled it to record a surplus of £80k which has restored the reserves after the challenging year in 23/24. It has been encouraging to see the increase in longer term funding making the charity less dependent on short term fundraising efforts.

Future Plans

HSW&TR is proud of the support we give to many local families. To ensure our long term future we continue to seek new multi-year sources of funding. We are grateful to the effort of all staff, volunteers and donors who continue to support us.

We will continue to strive to meet our core aims and are actively moving towards our objective of reaching sustainability over the medium to long term, thus enabling us to attract and train qualified staff and volunteers, to support more families and children in our catchment area.

The Charity has a well-developed and robust strategy for its funding and activities going forward. Progress against delivery of the strategy is kept under review by the Board of Trustees and it may be adjusted to respond to material changes in the environments we operate in.

The Trustees’ Report was approved by the Board of Trustees on 30th July 2025 Signed for and on behalf of the Trustees

(<2 Simon Boulcott 8A808935168F45E... by:

Chair – Home-Start Watford and Three Rivers

4

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

INDEPENDENT EXAMINER’S REPORT TO THE DIRECTORS OF HOME-START WATFORD AND THREE RIVERS A COMPANY LIMITED BY GUARANTEE

FOR THE YEAR ENDED 31st MARCH 2025

I report on the accounts of the company for the year ended 31st March 2025, which are set out on pages 6 to 21.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

David M Green Gowers Limited The Old School House Bridge Road Hunton Bridge Kings Langley Herts WD4 8SZ

8/3/2025

……………………..

5

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31st MARCH 2025

Notes
INCOME FROM:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total Income:
EXPENDITURE ON:
Raising Funds
6
Charitable activities
8
Governance
9
TOTAL EXPENDITURE
Net income/expenditure
Movement in provision for pension deficit
Transfers between funds
NET MOVEMENT IN FUNDS
Reconciliation of Funds:
Total funds brought forward
Total funds carried forward
15		 Unrestricted
£
27,465
102,800
46,825
177,090
38,889
75,102
751
114,742
62,348
(790)
(6,648)
54,910
6,000
60,910		 Restricted
£
3,817
209,599
-
213,416
-
193,239
953
194,192
19,224
-
6,648
25,872
33,534
59,406		 Total
2025
£
31,282
312,399
46,825
390,506
38,889
268,341
1,704
308,934
81,572
(790)
-
80,782
39,534
120,316		 Total
2024
£
69,686
362,189
8,652
440,527
55,422
441,832
1,440
498,694
(58,167)
526
-
(57,641)
97,175
39,534

6

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

BALANCE SHEET AS AT 31st MARCH 2025

Notes
2025 2024
£ £ £ £
FIXED ASSETS
Tangible fixed assets 12 1 1
CURRENT ASSETS
Debtors and prepaid expenses 16 3,357 10,676
Cash at hand and in bank 269,536 105,990
272,893 116,666
CREDITORS:Amounts falling
due within one year 16 (151,329) (76,674)
NET CURRENT ASSETS 121,564 39,992
TOTAL ASSETS LESS 121,565 39,993
CURRENT LIABILITIES
Defined benefit pension liability (1,249) (459)
NET ASSETS 120,316 39,534
INCOME FUNDS
Unrestricted funds
Unrestricted income funds 62,159 6,459
Pension Reserve (1,249) (459)
60,910 6,000
Restricted Funds 59,406 33,534
TOTAL FUNDS 16 120,316 39,534

The notes on pages 8 to 21 form part of these financial statements.

For the year ending 31st March 2025 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 board of trustees on 30th July 2025 and signed on their behalf by

(<2 -----------------------------------------8A808935168F45E... by: (Js --------------------------------------359F5567F7D6452... by: Director Simon Boulcott Director John Robinson

7

8/2/2025

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS YEAR ENDED 31st MARCH 2025

1. Company limited by guarantee

Home-Start Watford & Three Rivers is a company incorporated in England limited by guarantee No. 5385393 and is a registered charity No. 1108847. The extent of the liability of the members of the company on a winding up is limited to a maximum of one pound each.

2. Accounting policies

The following accounting policies have been applied consistently in dealing with items that are considered material in relation to Home-Start Watford & Three Rivers.

2(a) Basis of preparation

The accounts have been prepared under the historical cost convention.

The charity has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small charity.

These accounts 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 2015)”.

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

2(b) Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 these 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2(c) Investment resources

Incoming resources are accounted for on a receivable basis deferred as described below where appropriate. Grants are all included in incoming resources from charitable activities on the SOFA.

2(d) Investment income

Bank interest is included in the income and expenditure account on a receivable basis

2(e) Recognition of Liabilities

Liabilities are recognised on the accruals basis in accordance with normal accounting principles, modified where necessary in accordance with the guidance given in the Statement of Recommended Accounting and Reporting issued by the Charity Commissioners for England & Wales.

8

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS YEAR ENDED 31st MARCH 2025

2(f) Resources expended

All costs are allocated to those categories to which they relate. Where this is not possible, then they are suitably apportioned on the basis between costs of activities in furtherance of the charity’s objects and costs of generating funds 80:20 respectively. All costs are accounted on an accruals basis, inclusive of VAT which cannot be recovered.

2(g) Governance costs

All costs incurred by the Charity other than direct charitable expenditure are included in governance costs and are accounted for on an accruals basis.

2(h) Fixed Assets and depreciation

Tangible fixed assets are stated at cost less depreciation.

Depreciation has been provided at the following rates in order to write off the assets (less their expected residual value) over their useful economic lives.

Office Equipment 25% straight line

2(i) Taxation

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company, and is therefore included in the relevant costs in the Statement of Financial Activities.

2(j) Fund accounting

The Charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the Directors in furtherance of the objects of the Charity. Such funds may be held in order to finance both working capital and capital investment. Where conditions are such that funds received cannot be expended during the accounting period, any such monies are held as income in advance.

Restricted funds have been provided to the charity for particular purposes, and it is the policy of the Board of Directors to carefully monitor the application of those funds with the restrictions placed upon them.

2(k) Gifted assets

Gifted assets received are included at valuation if material.

2(l) Volunteers

The Charity relies on the support from volunteers who are unpaid. The value of volunteer’s time is not included in the SOFA.

2(m) Pension Contributions

Pension costs relate to contributions to individual employee scheme and are charged to the SOFA as they fall due.

2(n). Winding up or dissolution of the charity

If upon winding up or dissolution of the charity there remains any assets, after the satisfaction of all debts and liabilities, the assets represented by the reserves shall be transferred to some other charitable body or bodies having similar objects to the charity.

9

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31st MARCH 2025

3. Income from Donations and Legacies

General income for the year
Total Income from Donations and
Legacies		 Unrestricted
Funds
£
27,465
27,465		 Restricted
Funds
£
3,817
3,817		 Total
Funds
2025
£
31,282
31,282		 Total
Funds
2024
£
69,686
69,686

Some of the funds received during the period are held as Income in Advance (see note 16) where conditions were not such that those funds, in whole or in part, could be utilised during the year ended 31[st] March 2025 and expenditure falls in to a later period.

There were no donations and legacies actually received over £2,000.

4. Income from Charitable Activities

Group Work (Henry Smith)
Time 2 Talk
Physical Activity
Pop-Up Sessions
COVID-19 Recovery (Henry Smith)
Link Workers
Household Funds
Practical Support (Core Funding)
Big Lottery Fund
Trusthouse Forte
Postcode Lottery
Counselling (HCF)
Breathing Space Fund
Lottery Awards for All
WBC Neighbourhood Grant
Improving Lives (Henry Smith)
Garfield Weston
Centre for Warmth Grant
Parish Council Funding
Family Events
Total Income Charitable Activities		 Unrestricted
Funds
£
-
-
-
-
-
-
37,800
-
-
10,000
-
-
-
-
40,000
10,000
-
5,000
-
102,800		 Restricted
Funds
£
-
3,333
-
-
39,841
-
4,928
-
104,279
23,736
-
833
10,000
13,293
4,304
-
-
2,552
-
2,500
209,599		 Total
Funds
2025
£
-
3,333
-
-
39,841
-
4,928
37,800
104,279
23,736
10,000
833
10,000
13,293
4,304
40,000
10,000
2,552
5,000
2,500
312,399
 Total
Funds
2024
£
20,756
50,558
1,656
1,500
39,900
93,777
5,500
39,800
85,319
23,423
-
-
-
-
-
-
-
-
-
-
362,189

10

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31st MARCH 2025

5. Income from Other Trading Activities

Shop – Watford
Fundraising
Total income from other trading
activities		 Unrestricted
Funds
£
-
46,825
46,825		 Restricted
Funds
£
-
-
-		 Total
Funds
2025
£
-
46,825
46,825		 Total
Funds
2024
£
-
8,652
8,652

Income from other trading activities actually received over £2,000 are below.

Unrestricted
Funds
£
Frank Litchfield Trust 3,000
Collins Family Trust 2,500
The Hopper Trust 5,000

6. Raising Funds Expenditure

Shop – Watford
Fundraising and events
Other costs related to raising funds
Total Fundraising Costs		 Unrestricted
Funds
£
-
1,506
37,383
38,889		 Restricted
Funds
£
-
-
-
-		 Total
Funds
2025
£
-
1,506
37,383
38,889		 Total
Funds
2024
£
403
2,997
52,022
55,422

11

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS YEAR ENDED 31st MARCH 2025

7. Charitable Activities Expenditure

Practical Support (Core Funding)
Social Isolation (Big Lottery)
Time 2 Talk
Groups
Family Events
Women Fund
COVID-19 Recovery
Link Workers
Household Funds
Play Pioneer
Pop-Up Sessions
Physical Activity
Big Lottery Fund
Trusthouse Forte
Postcode Lottery
Breathing Space Fund
Lottery Awards for All
WBC Neighbourhood Grant
Improving Lives (Henry Smith)
Garfield Weston
Total cost of charitable activities		 Unrestricted
Funds
£
14,449
-
-
-
-
-
-
-
-
-
-
-
-
-
10,000
-
-
-
40,441
10,212
75,102		 Restricted
Funds
£
1,090
628
5,152
2,871
7,368
50
36,024
-
3,550
32
-
-
89,199
24,028
-
10,000
8,552
4,695
-
-
193,239		 Total
Funds
2025
£
15,539
628
5,220
2,905
7,385
50
36,211
-
3,550
32
-
-
89,676
24,130
10,000
10,000
8,620
4,695
40,629
10,263
268,341		 Total
Funds
2024
£
101,673
2,833
37,926
34,442
11,065
50
41,612
84,016
538
32
2,673
2,245
95,457
28,710
-
-
-
-
-
-
443,272

12

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31st MARCH 2025

8. Analysis of expenditure on charitable activities

Year ended 31st March 2025
Practical Support (Core Funding)
Social Isolation (Big Lottery)
Time 2 Talk
Groups
Family Events
Women Fund
COVID-19 Recovery
Household Funds
Play Pioneer
Big Lottery Fund
Trusthouse Forte
Postcode Lottery
Breathing Space Fund
Lottery Awards for All
WBC Neighbourhood Grant
Improving Lives (Henry Smith)
Garfield Weston		 Activity
Undertaken
£
15,539
628
5,152
2,871
7,368
50
36,024
3,550
32
89,199
24,028
10,000
10,000
8,552
4,695
40,441
10,212
268,341		 Grant
funding of
activities
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Governance
Costs
£
256
-
68
34
17
-
187
-
-
477
102
-
-
68
-
188
51
1,448		 Total
Funds
2025
£
15,795
628
5,220
2,905
7,385
50
36,211
3,550
32
89,676
24,130
10,000
10,000
8,620
4,695
40,629
10,263
269,789

13

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS YEAR ENDED 31st MARCH 2025

Year ended 31st March 2024
Practical Support (Core Funding)
Social Isolation (Big Lottery)
Time to Talk
Groups
Family Events
Women Fund
COVID-19 Recovery
Link Workers
Household Funds
Play Pioneer
Pop-Up Sessions
Physical Activity
Big Lottery Fund
Trusthouse Forte
9.
Governance
Accounts and Independent Examination		 £
100,233
2,833
37,926
34,442
11,065
50
41,612
84,016
538
32
2,673
2,245
95,457
28,710
441,832
Unrestricted
Funds
£
751
751		 £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Restricted
Funds
£
953
953		 £
1,440
-
-
-
-
-
-
-
-
-
-
-
-
-
1,440
Total
Funds
2025
£
1,704
1,704		 £
101,673
2,833
37,926
34,442
11,065
50
41,612
84,016
538
32
2,673
2,245
95,457
28,710
443,272
Total
Funds
2024
£
1,440
1,440

14

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR ENDED 31st MARCH 2025

10. Particulars of Employees

The average number of staff employed by the charity during the financial period was:-

Furtherance of the Charity’s objects
There were no employees with emoluments above £60,000.
Gross Salaries
Employer’s NI
Employer’s Pension Contributions
Pension Shortfall (reduction in provision)
Total Staff Emoluments		 2025
10
10
Total Funds
2025
£
210,639
13,597
6,376
790
231,402		 2024
18
18
Total Funds
2024
£
360,538
19,091
8,339
(526)
387,442

Total salary of key staff with management responsibilities is £86,949 (2024: £57,970).

11. Pension and other post-retirement benefit commitments

The company participates in the scheme, a multi-employer scheme which provides benefits to some 521 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme.

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

The scheme is classified as a 'last-man standing arrangement'. Therefore, the 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.

15

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS YEAR ENDED 31st MARCH 2025

A full actuarial valuation for the scheme was carried out at 30 September 2023. This valuation showed assets of £514.9m, liabilities of £531.0m and a deficit of £16.1m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2025 to 31 March 2028: £2,100,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 31 March 2028 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

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

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

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

PRESENT VALUES OF PROVISION

31 March 2025 31 March 2024 31 March 2023
(£s) (£s) (£s)
Present value of provision 1,249 459 984
RECONCILIATION OF OPENING AND CLOSING PROVISIONS 2025 2024
Provision at start of period 459 984
Unwinding of the discount factor (interest expense) 12 37

16

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS YEAR ENDED 31st MARCH 2025

Deficit contribution paid (468) (562)
Remeasurements - impact of any change in assumptions 8 -
Remeasurements - amendments to the contribution schedule 1,238 -
Provision at end of period 1,249 459

INCOME AND EXPENDITURE IMPACT

INCOME AND EXPENDITURE IMPACT
2025 2024
Interest expense 12 37
Remeasurements – impact of any change in assumptions 8 -
Remeasurements – amendments to the contribution schedule 1,238 -
Contributions paid in respect of future service 6,376 8,339
Costs recognised in income and expenditure account 7,166 7,814
ASSUMPTIONS 31 March 2025
% per annum		 31 March 2024
% per annum		 31 March 2023
% per annum
Rate of discount 4.84 5.31 5.52

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

17

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS YEAR ENDED 31st MARCH 2025

12. Tangible fixed assets

gible fixed assets
Cost
As at 1st April 2024
Additions
As at 31st March 2025
Depreciation
As at 1st April 2024
Charge for the year
As at 31st March 2025
Net Book Value as at 31st March 2024
Net Book Value as at 31st March 2025		 Office Total
1,793
-
1,793
1,792
-
1,792
1
1

13. Director’s emoluments and related party transactions

None of the Directors received any remuneration directly or indirectly.

None of the Directors or other persons related to the Charity had any personal interest in any contract or transactions entered into by the Charity during the year.

14. Volunteers

Volunteer information is as follows:

Activity
Home Visiting
Family Group, trustees and Other
Volunteer Counsellors
Total Volunteers		 Total
Number of
Volunteers
77
20
2
99		 Total
Number of
Volunteering
Hours
7,265
1,357
180
8,802

18

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS YEAR ENDED 31st MARCH 2025

15. Movement in funds

Unrestricted funds
Practical Support
Charitable Activities
Fund Raising
Transfers to restricted
funds
Pension reserve
Net unrestricted funds
Restricted funds
Practical Support
Social Isolation
Time 2 Talk
Groups
Family Events
Women Fund
Making Memories
Play Pioneer
Link Workers
COVID-19 Recovery
Household Funds
Pop-Up Sessions
Big Lottery Fund
Trusthouse Forte
Counselling (HCF)
Breathing Space Fund
Lottery Awards for All
WBC Neighbourhood
Centre for Warmth
Net restricted funds		 as at
1st April
2024
6,459
-
-
6,459
-
6,459
(459)
6,000
-
-
15,996
-
-
-
4,580
568
2,561
2,745
5,527
1,557
-
-
-
-
-
-
-
33,534		 Incoming
resources
65,265
65,000
46,825
177,090
-
177,090
(790)
176,300
1,090
-
3,455
-
5,105
-
-
-
-
39,841
4,928
-
104,279
23,736
833
10,000
13,293
4,304
2,552
213,416		 Resources
used
(14,705)
(60,892)
(39,145)
(114,742)
-
(114,742)
-
(114,742)
(1,090)
(628)
(5,220)
(2,905)
(7,385)
(50)
-
(32)
-
(36,211)
(3,550)
-
(89,676)
(24,130)
-
(10,000)
(8,620)
(4,695)
-
(194,192)		 Transfers
between
funds
(6,648)
(6,648)
-
(6,648)
-
628
-
2,905
2,280
50
-
-
-
-
-
-
-
394
-
-
-
391
-
6,648		 as at
31st March
2025
62,159
(1,249)
60,910
-
-
14,231
-
-
-
4,580
536
2,561
6,375
6,905
1,557
14,603
-
833
-
4,673
-
2,552
59,406

19

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS YEAR ENDED 31st MARCH 2025

16. Funds analysis

As at 31st March 2025
Unrestricted funds
Restricted funds
Social Isolation
Time 2 Talk
Groups
Making Memories
Play Pioneer
Women Fund
Link Workers
COVID-19 Recovery
Household Funds
Pop-Up Sessions
Physical Activity
Big Lottery Fund
Trusthouse Forte
Family Events
Counselling (HCF)
Lottery Awards for All
WBC Neighbourhood
Centre for Warmth
Net assets		 Fixed assets
1
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1		 Current
assets
3,357
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,357		 Bank and
cash
133,869
-
15,898
-
4,580
536
-
2,561
22,959
7,527
1,557
-
43,991
11,912
3,000
5,000
11,380
391
4,375
269,536		 Creditors,
provisions
and accrued
income
(76,317)
-
(1,667)
-
-
-
-
-
(16,584)
(622)
-
-
(29,388)
(11,912)
(3,000)
(4,167)
(6,707)
(391)
(1,823)
(152,578)		 Total
60,910
-
14,231
-
4,580
536
-
2,561
6,375
6,905
1,557
-
14,603
-
-
833
4,673
-
2,552
120,316

20

Docusign Envelope ID: 3D6734B7-CFC7-43F2-89C2-353AF54EA40E

HOME-START WATFORD AND THREE RIVERS

A COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS YEAR ENDED 31st MARCH 2025

As at 31st March 2024

Unrestricted funds
Restricted funds
Social Isolation
Time 2 Talk
Groups
Making Memories
Play Pioneer
Women Fund
Link Workers
COVID-19 Recovery
Household Funds
Pop-Up Sessions
Physical Activity
Big Lottery Fund
Trusthouse Forte
Family Events
Net assets		 1
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1		 10,676
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,676		 24,344
-
24,201
16,625
4,580
568
-
2.561
2,745
5,527
1,557
-
14,220
7,062
2,000
105,990		 (29,021)
-
(8,205)
(16,625)
-
-
-
-
-
-
-
-
(14,220)
(7,062)
(2,000)
(77,133)		 6,000
-
15,996
-
4,580
568
-
2.561
2,745
5,527
1,557
-
-
-
-
39,534

21