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: - select suitable accounting policies and then to apply them consistently; - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will stay in business. 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: - the scheme has adequate funds to support current activities and envisaged future expenditure; - trustees are inducted, DBS checked, trained and supported to enable them to fulfil their roles and responsibilities; - staff are recruited, inducted, trained, supported, supervised and developed in accordance with good employment practice; - home-visiting volunteers are recruited from all sectors of the community, are DBS checked, undertake the scheme ’s comprehensive preparation course and receive ongoing training, support and supervision; - trustees, staff and volunteers are actively encouraged to develop their skills and to support each other to meet the needs of HSW&TR and individual needs; - the scheme develops additional activities and services as need is identified and where adequate funding can be obtained; - recruitment campaigns and regular preparation courses are run to maintain a team of trained volunteers able to meet the numbers of appropriate referrals within a reasonable waiting time; - the service provides best practice in safeguarding; 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_ ___________________________________________________________________________ - volunteers are carefully matched to families to provide an appropriate service for each family’s needs; - the scheme maintains positive links and partnerships with statutory and voluntary agencies; - the scheme maintains a high profile within the local community; - all activities, feedback from volunteers and families and training are monitored and evaluated; - the offices and facilities of HSW&TR and other venues used for training or functions provide a safe, healthy and appropriate environment for staff, volunteers and visitors; - relevant news and information is circulated to staff, volunteers and trustees; - appropriate administrative and recording systems are in place. ## **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: - examine the accounts under section 145 of the 2011 Act; - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - state whether particular matters have come to my attention. ## **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: - to keep accounting records in accordance with section 130 of the 2011 Act; and - to prepare accounts which accord with the accounting records and comply with the accounting requirements of FRS102 and the 2011 Act 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. 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