REGISTERED COMPANY NUMBER: 05283272 (England and Wales) REGISTERED CHARITY NUMBER: 1109568 Report ofthe Trustees and Flnanclal Statements for the Year Ended 31st March 2024 for HOME-START WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM
HOME-START wEMINsTER, KENSINGTON & CHELSEAAND HAMMERSMH & FULHAM Contents of the Flnanclal SL7tements for the year ended 31st March 2024 Page Report of the Trustees Ststement of Trustee5' Responsibilities Report of the Independent Auditors Statement of Financial Activitie5 io Balance Sheet li Cash Flow Statement 12 Notes to the Cash Flow Statement 13 Notes to the Flnancial Statements 14 to 22 Detalled Statement of Flnanclal Actlvlties 23
IOME-START WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Report of the Trustees forthe year ended 31st March 2024 The trustees who are also dlrectors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. oBJEIVES AND ACTIVITIES Oblettlves and alms To offer support and friendship to ANY local family, with at least one child under S, who need5 us. We airn to make positive impact on the emotional and physical development of chlldren from pre-birth to pre-school, and on their parents. Standards and method5 of practlce Home-5tart Westminster, Kensington & Chelsea and Hammersmith & Fulham I"Home-Start WKCHF'I work with families living in the London Boroughs of Westminster, Kensington & Chelsea and Hammersmith & Fulham who are experiencing difficulties and who are expecting a baby or have at least one child under the age of 5. Home-start WKCHF is an independent voluntary organisation, which works towards the increased confidence and Independence of the family through our core seNice5 of advocacy and retruitingl tralning and matching volunteers to undertake home-visiting or providing therapy. The volunteer, who is supervised by an experienced co-ordinator, will- Vi51t the family regularly in their own homes where the dignrty and identity of each individual can be resperted and protected. Reassure parents that difficulties In bringing up children are not unusual and encouraging enjoyment in family life. Develop a relationship with the family in which time can be shared and understanding can be developed; the approach 15 flexible to take account of different needs. Encourage the parents, strengths and emotional wellbeing for the ultimate benefit of their children. Encour3ge families to widen their network of relationships and to use effectively the support and seNices available within the community. Provide therapy to families who wouldn't normally be able to access this service, to help cope with mental health difficultie5. Page I
HOME-START WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERsMH & FULHAM Report of the Trustees for the year ended 3tst March 2024 OBJEcfivE5 AND AcrivmES Charltable actlvities Chair's Report Year 2023124 l am pleased to report that Home-St3rt Westminster. Kensington & Chelsea and Hamrnersmith & Fulharn 5UPPOrted 239 families during the year to 31st March 2024. Our support had a broad range of positive impacts including 71% of parents able to manage their children's behaviour better. 81% of families becoming less isolated and 81% making better use of local services. The work of our growing. dedicated staff team has delivered these high-quality result5. either via their supervision and support of our exceptional volunteers, or through their dirert support to families. With the continuing challenge of a nationwide volunteer shortage. they have had to step in and offer interim support to families to a greater extent than in the past. I continue to appreciate the professionalism of our trustees whether at board meetings. serving on our Finance, Funding and HR Committees, or providing other muth needed ad hoc 5UPPOrt. Committees provide an extra focus on key areas of work. During the year a new committee was set up to set up to address issues around Volunteers. None of our work v4ould be possible viithout the support of our funders. several of whom have provided long-standin& consistent support vlhich is invaluable in a tough financial climate. We Vuld like to thank in particular the John Armitage Charitable Trust, the John Lyons Charity. the National Lottery Community Fund. and the Westminster Adult Education Service for their continued support. We are also grateful for the financial support from local authorities in which we operate, in particular the Royal BorouEh of Kensington and Chelsea who have supported us since 2014. As always. we constantly seek to widen the diversity of ftjnding sources and are gratefvl for continuing support in cash and in kind to a range of local businesses. Treasurers Report and Financial Review Home-start Westminster, Kensington & Chelsea and Hammersmith & Fulham aims to raise income to support its charitable objectives from a variety of sources including trusts and foundations. government. businesses and private individuals. The charity started the year with 54% of the 2023124 funding requirement in place and an optimism in the ability to grow reserves to meet our reserve policy. Unfortunately, the year did not proceed as planned with 3, multi-year applications, failing to raise critical funding. Due to this funding gap. an organisational review was held at the end of 2023 resulting in a team restructure and applications made for emergency funding. The restrurtured team along with support from longstanding donors allowed us to end the year positively with 2023/24 income of £617,551 up from £327.229 in the previous year. which includes unrestricted funding of £35.000 that relates to services scheduled to be provided after the year end. This grovrth in income has been both significant and required given the deficit in the prior year and the ongoing cost of delivering services. Expenditure in the year grew by 14% to £477,219 12022123 £419.018) as the number of families SUPF)Orted grew by 13%. Part of the growth in cost per family supported is due to the ongoing Struggle to recruit volunteers in a sector which has a greater demand for volunteers than numbers available. Thi5 results in paid staff bridging volunteer gaps to maintain a quality service delivery. Resetves at the year end stood at £275.106 of which £24,270 was restricted. ReseNes policv The charity operates 3 policy of maintaining free reseryes amounting to six month5 of operating costs. to enable management to ma intain a consistent level of service5 Wlth a flurtuating income stream, as well as providing sufficient resources to cover the costs of an orderly wind down. The surplus for the year has led to an increase in reserve levels to £275,106. of which £250,836 is unrestrirted. This equates to the target reserves level of six rnonth5 of operating costs. Page 2
HOME-sfART WE5fMINSTER. KENSINGT0fr4 & CHELSEA AND HAMMERSMH & FULHAM Report of the Trustees for the year ended 31st March 2024 oBJEIVEs AND AcnvmES Publlc benefft Home-Start WKCHF provide5 a range of services to the local community as it aims to improve the lives of local families. We continue to supply services across three boroughs - Westminster. Kensington & Chelsea and Hammer5mith & Fulham to any family expecting a baby or with a child under the age of S who needs It because they are experiencing emotion31 or prartical difficulties. In addition to our core service of home visiting we offer our Burnp-5tart support Service for mothers from pregnancy through to the child's 1st birthday. This programme aims to give all babies the best start in life. Referrals to our programmes come primarily from statutory bodies such as health and social services but are open to self-referrals. We provide a wide variety of benefits, rangin8 from the provision of parenting support to improved health & wellbeing including therapy and specific training on current issues such as budgeting. The charity has considered the Charity Commission's general Euidance on public benefit in setting its objective5 and planning its activities. STRUCTURE. GOVERNANCE AND MANAGEMEKr Status and governing document The organisation is a charitable company limited by guarantee. incorporated on 10 November 2004 and registered as 3 harity on 20 May 2005. The company was established under a Memorandum of Association which established the objertives and powers of the charitable company and is Eovemed under its Articles of Association. Dirertors and trustees Under the Memorandum & Articles of Association. the offir5 of the charity {Chair. Treasurer and Company Secretary) are appointed by the Trustees. The Trustees according to the Articles of Association are elected by the members of the charity attending the Annual General Meeting. The training and induction of Trustees will depend on their existing experience. Under the Articles of Association, one third of the trustees retire by rotation at each Annual General Meeting. The Tnjstees may co-opt any person duly qualified to be appointed as Trustee and that person will hold office until the next Annual General Meeting. Once appointed,trustees will be supported by the Board of Tru5tee5 in any area of induction or training needed. The Trustees meet bi-monthly to ensure the compliano with the Memorandum and Article5 and the policies of Homtrstart. The day to day operation within the policies, forward plan and budgets are delegated to the Scheme Manager. REFERENCE AND ADMINisfRATIVE DETAILS Reglstered Company number 05283272 (England and Walesl Registered Charity nurnbef 1109568 Registered office St Paul's Church Centre R055more Road London NWI 6NJ Page 3
HOME-5TART WESTMINSTER, KEN51NGTON & CHELSEAAND HAMMERSMITH & FULHAM Report of the Trustees for the year ended 31st March 2024 Trustees The trustees who have served during the year and to the date of this report: Christina Smyth Tinuke Bell Denise Loewen 151a Johns Uwa Adedeji Elizabeth Jarvis Rob Bradshaw S31eem Khalid Daphine Aikens MBE Stephen Miley OBE Chair Treasurer HR Resigned 19 January 2023 Resigned 17 March 2023 Resigned 30 March 2023 - Appointed 30 March 2023 Company Secretary Emily Hender50n PatTOTr Baroness Floella Benjamln Flnance/Fundralsln8 Committee Tinuke Bell Christina Smyth Thienhuong Nguyen Fiazah Pervez Lucy Allison HR Committee Denise Loewen Chr15tina Smyth Thienhuong Nguyen Audltors Simpson Wreford & Partners Chartered Accounta nts & Statutory Auditors Suffolk House George Street Croydon Surrey CRO OYN Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4TA Page 4
HOME-START WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Report of the Trustees for the year ended 31st March 2024 This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 26th September 2024 and signed on its behalf by: C Smyth - Trustee Page 5
HOME-START WESTMINSTER. KENSINGTON & CHELSEA AND HAMMER5MThH & FULHAM Statement of Trustees. Responsibilities for the year ended 31st March 2024 The trustee5 Iwho are also the directors of Home-start We5tmin5ter, Kensington & Chelsea and Hammersmith & Fulham for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial Statements in accordance with applicable law and United Kingdom knounting Standards Iunited Kingdom Generally Accepted Accounting Practice). CoThp3ny law requires the trustees to prepare financial statement5 for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company lor that period. In preparing those financial statements. the trustee5 are required to select suitable accounting policies and then apply them con515tently: L)bserve the methods and principles in the Chartty SORP- n)ake judgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unle55 it is inappropriate to presurne that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statement5 comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for tak•ng reasonable Steps for the prevention and detertion of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware,. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit i nformation and to establish that the auditors are aware of that information. Page 6
Report of the Independent Auditors to the Members of Horn$tart Westminster, Kensington & Chelsea and Hamrnersmith & Fulham Opinion We have audited the financial ststements of Home-start Westminster, Kensington & Chelsea and Hammersmith & Fulham (the 'charitable company'l for the year ended 31st March 2024 which comprise the Statement of Financial Activities, the Balance sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation 15 applicable law and United Kingdom Accounting Standard5 Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statement5= give a true and fair view of the state of the charitable company's affair5 as at 315t March 2024 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accountin8 Prattice,. and have been prepared in accordance with the requirements of the Companies Art 2006. Basis for ¢)pinion We conducted our audit In accordance with International Standards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements sertion of our report. We are independent of the charitable company in accordance with the ethical requirement5 that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the auclit evidence we have obtained is Sufficient and appropriate to provide a basis for our opinion. Concluslon5 relatlng to zolng concern In auditing the financial statements. we have concluded that the trustees. use of the going cOnrn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast Sl8nificant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authori5ed for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other infomiation The trustees are responsi ble for the other inforniation. The other information comprises the information included In the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our report. we do not expre55 any form of assurari conclusion thereon. In connettion with our audit of the financial statements. our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obt3ined in the audit or otherwise appear5 to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this Other information, we 3re required to report that fart. We have nothing to report in this regard. Opinions on her matters prescribed by the Companies Art 2006 In our opinion. based on the work undertaken in the course of the audit: the in*ormation given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the Report of the Trustees h35 been prepared in accordance with applicable legal requirements. Page 7
Report of the Independent AuditOTS to the Members of Home-5tart Westminster, Kensington & Chelsea and Hammersmith & Fulham Matters on which we are required to report by exption In the light of the knowledge and understsnding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respett of the following matters where the Companie5 Att 2Cx)6 requires us to report to you if. in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by u5; or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit: or the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Responsibilitie5 of trustees As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial Statements and for being satisfied that they give a true and fair view, and for such internal control a5 the trustees determine 15 nece55ary to enable the preparation of financial statements that are free from material misststement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable cornpany's ability to continue as a going concem, disclosing. as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operation5, or have no realistic alternative but to do 50. Our responslbllitie5 for the audlt of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statement5 a5 a whole are free from material misstatement. whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS IUKI will a Iways detect a material misstatement when it exists. Misstatements can arise from fraud or error and 3re considered material if, individually or in the aggregate, they could reasonably be expected to influence the economit decisions of users ta ken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below.. Due to the inherent limitstions of on audit. there is a risk that we will not detect all irregularities, including those leading to a material rnisstatement in the financial 5tatement5 or non-compliance WFth regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be le55 likely to become aware of instante5 of non<ompliance. The risk is a150 greater regarding irregularities occurring due to fraud rather than error. as fraud involve5 intentional concealment. forgery, collusion. omission or misrepresentation. A further description of our responsibilities for the audtt of the financial statements is located on the Financial Reporting Council's website at W¥w.frc.Qr8.uvaudit0rsreSPQnsibIlities. Thi5 description forms part of our Report of the Independent Auditors. Page 8
Report of the Independent Auditors to the Members of Home-start Westminster, Kenslngton & Chelsea and Hammersmith & Fulham Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those rnatter5 we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or a55ume responsibility to anyone other than the charitable company and the charitable company'5 members as a body, for oyr audit work, for this report, or for the opinions we have formed. Alasdair Weaks (Senior Statutory Auditor) for and on behalf of Simpson Wreford & Partners Chartered Accountants & Statutory Auditors Suffolk House George Street Croydon Surrey CRO OYN 26th September 2024 Page 9
HOME-START WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Statement of Financial Artivities lor the year ended 31st March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestrirted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacie5 137,712 137,712 10,039 Charltable activitle5 Charitable activities 165.000 311.059 476,059 316,221 Investment income 3,780 3,780 969 Total 306,492 311,059 617,551 327.229 EXPENDITURE ON Charitable artrvities Charitable activities 190.430 286,789 477,219 419,018 NEf INCOME/{EXPENDITUREI 116.062 24,270 140,332 191.7891 RECONCILIATION OF FUNDS Total funds brought forward 134,774 134,774 226,563 TOTAL FUNDS CARRIED FORWARD 250,836 24,27D 275,106 134,774 The notes form part of these financial statements Page 10
HOME-START WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Balance Sheet 315t March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted funds Restricted funds Notes CURRENT ASSETS Debtors.. amounts falling due within one year Cash at bank io 35,000 228,880 35,000 263,075 34,195 161,591 263,880 34,195 298,075 161,591 CREDITORS Amounts falling due within one year li 113,0441 19,9251 122,9691 126,8171 NET CURRENT ASS5 250,836 24,270 275,106 134,774 TOTAL ASSETS LESS CURRENT LIABILITIES 250,836 24,270 275,106 134,774 NET ASSETS 250,836 24,270 275,106 134,774 FUND5 Unrestricted funds Restricted fund5 13 250,836 24,270 134,774 TOTAL FUNDS 275,106 134,774 These financSal statements have been prepared in accordance with the provisions applicable to charitable companies subject to the Small companies regirne. The financial statements were approved by the Board of Trustees and authorised for issue on 26th September 2024 and were signed on its behalf bv.. C Smyth- Trustee T Bell - Trustee The notes form part of these financial statements Page 11
HOME-START wEMINsTER. KENSINGfoN & CHELSEA AND HAMMERSMrrH & FULHAM Cash Flow statement for the year ended 315t March 2024 31.3.24 31.3.23 Notes Cash flows from opernting aclivities Cash generated from operation5 97,704 179,744) Net cash provided by/lused in) operating attivf(ies 97,704 179,7441 Cash flows from lrnvesting activitie5 Interest received 3.780 969 Net cash provided by investing artiwties 3,780 969 Change in cash and cash equivalents ifft the reporting period Cash and cash equl¥alents at the beginning of the reporting period 101.484 (78,7751 161.591 240,366 Cash and cash equivalents at the end irfthe reporting period 263,075 161,591 The notes form part of these financial statements Page 12
HOME-START WESTMINER, KENSINGTON & CHELSEAAND HAMMERSMITH & FULHAM Notes to the Cash Flow Statement for the year ended 31st March 2024 RECONCILIATION OF NET INCOME/IEXPENDITUREI TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.24 31.3.23 Net inEomel(expenditure) for the reporting period las per the Statement of Financial Activitie5} Adjustments for: Interest received Increase in debtors IDecrease)/increase in creditors 140,332 191,7891 13,7801 135,0001 13,8481 19691 13,014 Net cash provided by/{used inl operations 97,704 179,744} ANALYS15 OF CHANGES IN FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank 161.591 101,484 263,075 161,591 101,484 263.075 TDtsI 161,591 101.484 263,075 The notes form part of these financial statements Page 13
HOME-START WESTMINSTER. KENSINGTON & CHEL5EAAND HAMMERSMH & FULHAM Notes to the Financial Statements for the year ended 31st March 2024 GENERAL INFORMATION Home-start Westminster, Kensington & Chelsea and Hammersmith & Fulham is a company limited by guarantee, registered in England and Wale5 (Company number.. 052832721 and a charity registered with the Charity Commission Iregistered number.. 11095681. HornStart Westminster's registered address is St Paul'5 Church Centre. R0s5more Road, London, NWI 6NJ. The charity meets the definition of a public benefit entity under FRS 102. ACCOUNTING POUCIES Basis of preparing the financial statements The financial statements of the charitable tompany. which is a public benefit entity under FR5 102, have been prepared in accordance with the Charities SORP IFRS 1021 '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 IFRS 102) leffectNe l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2CK)6. The financial statements have been prepared under the historical tost convention. The financial statements have been prepared in sterling. the functional currency of the charity, and monetary arnounts in these financial statements have been rounded to the nearest £. Going concern The charity has faced mU1ple challenges in the year. such as rising staff costs 35 a result of the cost-of-living crisi5. This has placed pressure on the charity's reserves. In the light of challenges over funding going forward, the charity has bid (by invttation from a long-term funderl for a fund targeted at recovery from COVID and it5 aftermath. These monies would include a ring-fenced sum for a funding consultant, whom the charity would deploy to identrfy new sources of long term fundin& in order to grow its incorne and return to a healthier reserve position. Having considered post year-end financial results and cash reserves. the trustees have a reasonable expectation that the charity has adequate resovrces to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. it 15 probable that the income will be received and the amount can be measured reliably. Grant income is recognised when the charity has entitlement to the funds, any performance condition5 attached to the grants hève been met. it IS Probable that the income will be received and the amount can be measured reliably and is not deferred. Grant income received in advance for artivities undertaken after the year end is deferred until the criteria for income recognition are met. Donations and similar incoming resources are included in the year in which they are receivable. which is when the charity becomes entitled to the resource. Investment intorne includes interest receivable and is included in the accounts when the charity becomes entitled to the income. Page 14 continued...
HOME-START WESTMINSTER, KENSINoN & CHELSEAAND HAMMER5MITH & FULHAM hlotes to the Financial Ststements- continued for the year ended 31st March 2024 ACCOUNTING POLICIES- contlnued Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it 15 probable that a transfer of economic benefits will be required in Settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where cost5 cannot be directly attributed to particular headings they have been allated to 3Ctivities on a basis consistent with the use of resources. All expenditure is shown inclusive of irrecoverable VAT Taxation The charity is exempt from corporation tax on its charitable activitie5. Fund accounting Unrestricted fund5 can be used in accordance with the charitable objective5 at the discretion of the trustee5. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrlrtions arise when specified by the donor or when funds are rdised for particular restricted purposes. Further explanation of the nature and purpose of each fund 15 included in the notes to the financial statements. Debtors Trade and other debtor5 are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or le55 from the date of 3cqtiisition or opening of the deposit or similar account. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a p35t event that will probably result in the transfer of funds to a third party and the amount due to Settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Financlal Instruments The charity has elerted to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financial assets and financial liabilities are recognised when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial Statements, when there is a legally enforceable right to sett off the recognised amounts and there is an intention to Settle on a net basis or to realise the asset and settle the liability simultaneously. Operating leases Rentals paid under operating leases are charged to the statement of financial attivitie5 on a straight line ba515 over the lease term. Page 15 ontinued...
HOME-START WESTMINSTER, KEN51NGTON & CHELSEA AND HAMMERSMITH & FULHAM Notes to the Financial Statements- continued for the year ended 31st March 2024 ACCOUNTING POLICIES -contlnued Government grants Government grant5 are Tecogni5ed at the fair value of the asset received or receivable when there is reasonable assurance that the grant condition5 will be met and the grants will be received. A grant that Specifies performance condltlon5 15 recognlsed in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. Pension tOSt5 and other post-retlrement benefits The charity operates a defined contributlon plan for its employees. A deflned contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the Contributions have been paid the charity has no further payment obligations. The contributions are recogni5ed a5 an expense in the Staternent of Financial Activities when they fall due. Amounts not paid are shown in creditors 35 a liability in the Balance Sheet. The assets of the plan are held separately from the charity in independently administered fund5. DONATIONS AND LEGACIES 31.3.24 31.3.23 Donations 137,712 10,039 INVESTMENT INCOME 31.3.24 31.3.23 Deposit account Interest 3,780 969 INCOME FROM CHARITABLE ACTIVITIES 31,3.24 31.3.23 Artivity Charitable activities Grants 476,059 316.221 Page 16 continued...
HOME-START wEsfMINER, KENSINGTON & CHELSEA AND HAMMERSMrrH & FULHAM Notes to the Financial Statements- continued for the year ended 31st March 2024 CHARITABLE ACTIVITIES COSTS Dirett CQ5ts Support costs Total 31.3.24 Total 31.3.23 Staff c05t5 Support of famllles 416,973 56,028 416,973 60,246 348,093 70,925 4,218 473,001 4,218 477,219 419,018 SUPPORT COSTS Total 31.3.24 Total 31.3.23 Auditors, remuneration 4,218 3.876 TRUSTEÈS. REMUNERATION AND BENEFITS There were no trustees, remuneratlon or other benefit5 for the year ended 31st March 2024 nor for the year ended 31st March 2023. Trustees, expenses Trustees were not reimbursed with any expenses during the year12023 - £Nill. StAFF COSTS 31.3.24 31.3.23 Wage5 and 5alarie5 Social security costs Other pension cost5 372,384 29,542 15,047 309.614 25.296 13,183 416,973 348,093 The average number of staff employed during the year was 1312023 - 111. There were no staff paid more than £60,000 during the year12023 - none). During the year. th e charity incurred c05t5 totalling £49,474, inclutjing eTnployer'5 NIC and employer's pension. in respect of key management personnel. Page 17 continued...
HOME-START WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Notes to the Financial Statements- continued forthe year ended 315t March 2024 COMPARATIVES FOR THE sfATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacie5 10,039 10,039 Charitsble actlvltles Charitable activities loo,000 216,221 316,221 Investment income 969 969 Total 111,008 216,221 327,229 EXPENDITURE ON Charitable activities Charitable activities 202,797 216,221 419,018 NET INCOME/(EXPENDITURE) 191,7891 191,7891 RECONCIUATION OF FUNDS Total fund5 brought fOard 226,563 226,563 TOTAL FUNDS CARRIED FORWARD 134,774 134,774 io. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Prepayments and accrued Income 35,000 Page 18 ontinued...
HOME-START WESTMINSTER, KENSINGTON & CHELSEAAND HAMMERSMITH & FULHAM Notes to the Financial Statements- continued forthe year ended 31st March 2024 ii. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade creditors social security and other taxes Other creditors Accruals and deferred Income 1,188 7,017 639 14,125 349 7,841 401 18,226 22,969 26.817 Deferred income reconciliatlon 31.3.24 31.3.23 Balance brought forward Amount released to the Statement of Financial Activities Amounts deferred in the year 14,458 114,4581 9,925 14.458 Balance ¢arried forward 9,925 14.458 The deferred income at 31st March 2024 relates to a perform2nce-related grant from Westminster Clty Council to run the Healthy Communtties Fund project, which 15 received quarterly in advance. 12. LEA51NG AGREENENTS Minimum lease payments under non-cancellable operating leases fall due as follows: 31.3.24 31.3.23 Within one year Between one and five years 20,846 71,224 20,846 92,070 92,070 112,916 Page 19 continued...
HOME-START WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Note5 to the Financial Statements - continued forthe year ended 31st March 2024 13. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 134,774 116,062 250.836 Restricted funds WAES Young Westminster Foundation Westminster City Council Westminster Fou ndation John Lyons SHAF 1,778 8,296 4,313 8,086 1,797 1,778 8,296 4,313 8,086 1.797 24,270 24.270 TOTAL FUNDS 134,774 140.332 275.106 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 306,492 1190,4301 116,062 Restrlcted funds National Lottery Community Fund Family grants received John Lyon5 Charity Kensington & Chelsea WAES NHS CNWL Perinatal Mental Health Hammersmith & Fulham Volunteer DBS Income Young Westminster Foundatlon The Howard de Walden Estate Pears Breathing Space Peter Stebbings Memorial Charity Westminster City Council Westminster Fou ndation John Lyon5 SHAF 109,769 340 49,158 42,400 13,970 4,400 30,450 647 10,000 10,000 io,ooo 5,000 9,925 10,000 5,000 1109,7691 13401 {49,1581 142,4001 112,1921 14,4001 130,450} 16471 (1,7041 iio,0001 {io,0001 15,0001 15,6121 11,9141 13,203} 1,778 8,296 4.313 8,086 1,797 311,059 1286,7891 24.270 TOTAL FUNDS 617,551 1477,2191 140.332 Page 20 continued...
HOME-START WESTMINSTER, KEN51NGTON & CHELSEAAND HAMMERSMITH & FULHAM Notes to the Financial Statements- continued for the year ended 31st Marth 2024 13. MOVEMENT IN FUNDS-contlnued Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestrlcted funds General fund 226,563 191,7891 134.774 TOTAL FUND5 226,563 191,7891 134,774 Comparative net movement in funds, included in the above are a5 follows.. Incoming resource5 Resources expended Movement in funds Unrestricted funds General fund 111,008 1202,7971 191,7891 Restrirted fund5 National Lottery Community Fund Family grant5 received John Lyons Charity Kensington & Chelsea WAES Campden Charitie5 48,698 1,749 20,242 40,000 14,215 1,500 {48,6981 11,7491 120,2421 140,0001 114,21SI 11,5001 F 11 NHS CNWL Perinatal Mental Health Hammersmith & Fulham Volunteer DBS Income Young Westminster FoundatSon Westminster Proterts The Howard de Walden Estate KC SC (Covid Protectionl HSUK PIMH Pllot 23,625 30,102 415 2,100 iO,QNJO 10,000 10,575 3,000 123,6251 130,1021 14151 12,1001 iio,0001 iio,0001 110,5751 13,0001 216,221 1216,2211 TOTAL FUNDS 327,229 1419,0181 191,7891 Restritted funds have been received to support specific programme delivery costs and projects that contribute to the charity's overall vision that every parent has the 5UPPOrt they need to give their children the best start in life. Some Df the funding relates our general 5UPPOrt work. but in defined Boroughs, whereas other grants have been received to help fund specific activitie5. such as volunteer training and support, providing grant5 to families, covering the costs of DBS check5, community learning programmes or school holiday activities. Page 21 continued...
HOME-START WESTMINSTER, KEN51NGTON & CHELSEAAND HAMMERSMITH & FULHAM Notes to the Financial Statements- continued for the year ended 31st March 2024 14. RELATED PARTY DISCLOSU RES During the year, donations were received from trustees, key management and related parties totalllng £1,952 12023 - £1,655). No restrtctions or condition5 were attached to any of these donations. There were no other related party transartion5 requiring disclosure in either the current or prior year5. 15. COMPANY UmED BY GUARANTEE Homtrstart Westminster, Kensington & Chelsea and Hammersmith & Fulham is a company limited by guarantee and accordingly doe5 not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable cornpany in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. Page 22