REGISTÉRED COMPANY NUMBER: 05283272 (England and Wales) REGISTERED CHARITY NUMBER: 1109568 Report of the Trustees and Financlal Statements for the Year Ended 31st March 2025 for HOME-START WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERSMrrH & FULHAM
HOME-sfART WESTMINSTER. KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Contents of the Financial Statements for the year ended 31st March 2025 Page Report of the Trustees Statement of Trustees. ResponsibilitSes Report of the Independent Auditors 8 to 11 Statement of Flnanclal Actlvltles 12 Balanco Sheet 13 Cash Flow Statement 14 Notes to the Cash Flow Statement 15 Notes to the Financial Statements 16 to 23 Detailed Statement of Financlal Actfvltles 24
HOME-START WESTMINSTER. KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Report of the Trustees for the year ended 3tst March 2025 The trustees who are also dlrectois of the charity for the purpose5 of the Companles Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to charitie5 preparlng their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 (effective l January 20191. OBJEcfivES AND AcfiviTIES Obje¢tlve5 and alms To offer support and friendshlp to ANY local famlly. with at least one child under 5. who needs It. Wo alm to make a positive Impact on the emotional and physical development of children from pre-blrth to pre-school, and support the family to thrive. Standards and methods of practice Home-start Westminster, Kensington & Chelsea and HammersmSth & Fulham {"Home-Start WKCHF'I work wlth families livlng in the London Boroughs of Westminster. Kensington & Chelsea and Hammersmith & Fulham who are experiencing difficulties and who are expectlng a baby or have at leasi one child under the age of 5. Home-start WKCHF Is an Independent voluntary organlsatlon. which works towards the incre3sed confidence and independence of the family through our core servlces of advocacy and recruitin& tralnlng and matching volunteers to undertake home-visiting or providing therapy. The volunteer, who is supervised bv an experienced co-ordinator, will: Vlsit the family regularly in thelr own homes where the dignity and identSty of each individual can be respected and protected. Reassure parents that difficultle5 In brln8in8 up chlldren are not unusual and encouraging enjoyment in family Develop a relatlon5hlp with the family in whlch time can be shared and understandlng can be developed; the approach Is f lexible to take account of dlfferent needs. Encourage the parents, strengths and emotional wellbeing so they are able to give their children the best start In Ilfe, Encourage families to widen their network of relationships and to utillse the support and services available withln the community effectively. Provlde therapy to families who wouldn't normally be able to access this service, supportin8 them to break complex family patterns and cope with mental health difficulties. Page I
HOME-START WWMINSTER. KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Report of the Trustees for the year ended 31st March 2025 OBJECTIVES AND AcfiviTIES Charltable artlvlrles Chair's Report Year 2024125 Once again l am delighted to report that we have supported more families12471 than the year before {2391. Volunteer befriendin6 in the home and individual therapy remain at the core of our service and both continue to be extremely well received by families. On top of this, our service offerinE continues to evolve in response to families, need5. For example, this year we introduced two new popular services, Birth and Beyond and Parent Zone. To provide additional tailored support, our family support staff bring together a range of external services, ranging from Foodbank vouchers to grants for items for a new baby. Our families have told us that they see the staff and the volunteers they come into contact with as members of one carlng "family" Our volunteers are extraordinary people and I would Ilke to thank them for thelr tlme and skill, whether they are befrlenders, trainee therapists, social work students, trustees or occasional helpers. Volunteer numbers remaln a challenge but we are confident that once people volunteer with us they wlll receive the hi8hest quality volunteer experience, We were delighted to be recognised again this year as a "Investor in Volunteers organisatiDll. The Treasurer's report mention5 the exceptlonal sUPPOrt we receive from our funders. It is ultimately owlng to them that we ended the year in a strong flnancial position. I would just like to record here, on behalf of the Board, our profound gratitude to our funders. The staff team remaln the bedrock of all our work. This Is reflected In so many ways, includlng recoEnltlon from Home-start UK of the excellence of our work in the areas of family support, and Eovernance and leadership. I would like to finish by expressing the Board's appreciatlon and admiration for stsff s skill. commitment and compas510n, Reluctantly, we had to say goodbye to our Treasurer. Tlnuke Bell. half way through the year. During her nine year5 wlth u5 Tinuke rnade an outstandlng contributlon to the charity and left a lastlng legacy. Lar8ely due to Tlnuke, we have excellent financlal control systems and now manage all finances including payroll In-house. By worklng with and coaching our staff, Tinuke has left us with much Improved financial capability embedded In the organisation. She left the charity In a very healthy flnanclal position wlth reserves at over 9 months, comfortably above our policy of having at least six months in reserve. We wish Tinuke the very best for the future. Durin8 the second half of the year I served temporarlly as Treasurer, and, together with the HR Trustee, ran recruitment proce55 for a permanent new Treasurer. We were delighted to appoint Anika Haria, at the end of the year and are sure she will be a great asset to the charity. Treasurers Report and Flnan¢lal Revlew Horne-start Westminster, Kensington & Chelsea and Hammersmlth & Fulham aims to ralse Income to 5UPPOrt its charitable objectlves f rom a variety of 50urces including trusts and foundations, government, bu5ine55es and prlvate Individuals. The charity ended the financial year in a strong and healthy position, with income exceeding expectations. This posltlve outcome was the result of careful financial plannin& effective cost control, and successful fundraising which together contrlbuted to a robust year-end surplus and strengthened the charity's re52rve5. Total incorne for the year reached £598,002, representing a 1.9% increase over the budgeted figure of £586,649, Thi5 reflects the charity's focused income generatlon efforts and prudent flnancial management, desplte operatSng in a challenging funding environment. While this represents a modest 3.2% decrease from the previous year's income of £617,551, this gap had been anticipated and accounted for in the budget. At the start of the year. the majorlty of the budgeted Income hod already been secured, providing the charity with a stable foundatlon for operations. The remainins income target was successfully met through additional grants, donations and fundr3i5ing initlatlve5. Page 2
HOME-sfART WESTMINSTER. KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Report of the Trustees for the year ended 31st March 2025 OBJEcfivES AND AcfiviTJES Treasurers Report and Flnanclal Review- contlnued Total expenditure for the year was £482,867, which 55 5.4% below the budgeted £SIO,S18. Thls underspend was primarily due to reducod payroll costs, attributed to delayed recruitment. staff departures, and long-term staff absence. As a iesult. the charity achieved a net Surplus of £115,135. which exceeded expectation5 and contributed to the growth of its unrestricted reserves. The charity's strong financlal position also enabled it to award staff 3 well-deserved pay Increase at the beglnnlng of the year, something that had not been possible in the previous year due to tighter finances. Additionally. the organlsation expanded its frontline service5 by hirin8 mu¢h-needed Family Support Coordinators. We are extremely grateful to all our funders for thelr contlnued generoslty. We are especially proud to be supported by a diverse group of funding partners. While managing multiple funding streams does increase the administrative workload, our diversSflcation strate8y has proven effective in feduclng reliance on any single income source and Stren8thenln8 our long-term sustalnability. Rèserves poIIcv The charity ended the 2024125 Ilnancial year wlth a strong reserve5 Position of £390,241, of whlch £387,795 was unrestricted12023,' £275,106 total reserves. with £250,836 unrestricted). Thls represents a 41.9% increase in total reserves year-on-year. Our closing unrestricted reseNes now equate to over nine months of operating costs. Reserves are currently above the level set out in ovr reserves policy of slx months of operatln8 Costs. Thi5 reflects combination of delayed expenditure, increased funding and prudent financial planning in response to challenges in the prevlous financlal year. The surplus reserves wlll be Invested in strengthenlng our work and drlving impact. They wlll enable us to; Recruit additional staff to meet the growing demand for our services Build a contingency fund that ensures stability and resilience in the fa of future funding changes Advance strategic initiatives that will help us achieve our long-term goals and maximise our positive impatt Thls Strong financial posStion reflects the proartive measures taken in the second ha If of 2023124 to grow Income and re-balance our reserves. These included diver51fying our funding base and securlng additional support from longstanding donor5. We are deeply 8rateful for the continued generosity and trust of our supporter5. Their contrlbutions have enabled u5 to build a stable financial foundation from which to grow and improve our 5UPPOrt for familles in the local comrnunlty. Page 3
HOME-sfART WESTMINsfEII KENSINGTON & CHELSEAAND HAMMERSMITH & FULHAM Report of the Trustees for the year ended 3tst March 2025 OBJEcfivES AND AcfiviTIES Public beneflt Home-start WKCHF provides a range of servlces to the local communlty that airn to improve the Ilves of local families. We continue to supply services across three borou6hs - Westminster, Kensington & Chelsea and Hammersmith & Fulham to any family expecting a baby or with a child under rhe age of 5 who needs it because they are experiencing emotional or practical difficulties. In addition to our core service of home visiting we offer our 'Burnp-Start' programme supportin8 mothers from pregnancy through to the child's 1st birthday. This programme aims to glve all bables the best start in Ilfe and 15 3 model that has been taken up by the wider HomÉ-Start network. Referrals to our programmes come prlmarily from statutory bodies such as health and social servlces but are open to self-referrals. We offer a wide variety of additional services hi8hli8hted as a need within the communitie5 we 5UPPOrt, that provlde a range of beneflts. These include. increased positive attachment supported by the provision of parenting support on one to one and group basis. to improved health & wellbeing indudlng long term psychotherapy and speclflc tralnlng on155ues faced such as budgeting. The trustees have consldered the Charity Commission's general 8uidance QD public benefit in setting its objectlves and planning its actlvltles. STRucfuRE, GOVERNANCE AND MANAGEMENT Status and governin8 document The organisation is a charltable company Ilmited bv guarantee, incorporated on 10 November 2004 and registered as a charity on 20 May 2005. The company wa5 established under a Memorandum of A550ciation which established the oblectlves and powers of the charltable company and is 8overned under Its Article5 of Assoclatlon. Dlrectors and trustees Under the Memorandum & Artlcles of Association, the offlcers of the charitv (Chair, Treasurer and Company Secretary) are appointed by the Trustees. The Trustees according to the Article5 Of AoCiation are elected by the members of the charSty attending the Annual General Meetlng. The tralnlng and inductlon of Trustees wlll depend on thelr existing experience. Under the Artlcles of Association, one third of the trustees retire by rotation at each Annual General Meeting. The Trustees may co-opt any person duly qualified to be appointed as Trustee and that person will hold office until the next Annual Gener41 Meetln8. Once appointed,tru5tees will be supported by the Board of Trustees in any area of induction or tralning needed. The Trustee5 meet bi-monthly to ensure the compliance with the Memorandum and Articles and the policies of Home-start. The day to day operation within the pollcies. forward plan and budgets are delogatod to the Scheme Manager. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 05283272 (England and Wale5) Registered Char6ty number 1109568 Page 4
HOME-START WESTMINSTER. KENSINGTON & CHELSEA AND HAMmERSmH & FULHAM Report of the Trustee5 for the year ended 31st March 2025 Reglstered offlce St Paul's Church Centre Rossmore Road London NWI 6NJ Trustee5 The trustees who have served during the year and to the date of this report: Christina Smyth Tlnuke Bell Anika Haria Denise Loewen Isla Johns Saleem Khalld Daphine Aikens M8E Stephen Mlley 08E Laetitia Rennle Chalr Treasurer Treasurer Reslgned 26th September 2024 - Appointed 27th March 2025 HR Company Secretary Emily Henderson Patron Baroness Floella Benjamin Finance/Fundralslng Commlttee Tinuke Bell Anika Haria Chrlstina Smyth Thienhuong Nguyen Fiazah Pervez Lucy Alllson Katherine Philip To 26th September 2024 From 27th March 2025 To 18th September 2024 From 14th November 2024 HR Commlttee Denise Loewen Christin3 Smyth Thienhuong Nguyen Volunteer Committee Daphlne Aikens MBE Stephen Miley OBE Laetitia Rennle Karlma El-Haddad Katherine Philip Audltors TC Group Statutory Auditor Office: Croydon- TC SWP 3rd Floor, Suffolk House George Street Croydon CRO OYN Page 5
HOME-sfART WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Report of the Trustees for the year ended 31st March 2025 REFERENCE AND ADMINISTRATIVE DETAILS Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malllng Kent ME19 4TA This report has been prepared In accordance wtth the special provlslons of Part 15 of the Companles Act 2006 relatlng to small companie5. Approved by order of the board of trustees on .1 OcF.U 20 and signed on its behalf bv.. oc C Smyth- Trustee Page 6
HOME-START WESTMINSTER. KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Statement of Trustees. Responsli )ilities for the year ended 31st March 2025 The trustees (who are also the directors of Home-start Westminster, 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 Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Companv law requires the trustees to prepare financial statements 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 tompany for that period. In preparing those financial statements, the trustees are qUired to select 5ultable accounting policies and then apply them conslstently", observe the methods and principles in the Charity SORP; make judgements and estimatesthat are reasonable and prudent; prepare the financlal statements on the Eoing concern basis unless it is inappropriate to presume that the charitable company will continue In business. The trustees are responsible for keeping proper accounting records whlch dlsclose wlth reasonable accuracy at any time the financial p051tion of the charitable company and to enable them to ensure that the financial statements comply with the Cornpanles Act 2006. They are also responslble for safeguardlng the assets of the charltable companv and hence for taking reasonable steps for the preventlon and detertion of fraud and other Irregularities. In so far as the trustees are aware: there is no relevant audlt informatlon 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 audlt informatlon and to establish that the auditors are aware of that information. Page 7
Report of the Independent Auditors to the Members of Home-5tart Westininster. KenslnBton & Chelsea and Hammersmlth & Fulham Opinion We have audited the financial statements of Home-start Westminster, Kensington & Chelsea and Hammersmith & Fulham (the 'charltable company'l for the year ended 31st March 2025 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 policie5. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practlcel. In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31st March 2025 and of Its incomlng 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 ACpted Accounting Practice; and have been prepared In accordance wlth the requirements of the CompaniesAct 2006. Ba515 for opinion We conducted our audit in accordance wlth International Standards on Auditing IUV IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audltors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfllled our other ethlcal responsibilitles In accordance with these requirements. We believe that the audlt evidence we have obtained is sufficient and appropriate to provide a basis for our opinlon. Concluslons relatlng to golng concern In èuditlng the financial statements, we have concluded that the tru5tees' use of the going concern basis of accounting in the preparation of the flnancial statements Is appropriate. Based on the work we have performed. V have not Identified any material uncertaintie5 relatlng to events or conditlons that, Individually or collectlvely, may cast 5ignlflcant doubt on the charitable company's ability to continue as a golns concern for a period of at least twelve months from when the financial staternents are authori5ed for issue. Our responsibllltles and the responsibllltles of the trustees with respect to going concem are described In the relevant sections of thls report, Other Informatlon The trustee5 are responslble for the other Information. The other Informatlon comprises the Information Included In the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our oplnion on the flnancial statements does not cover the other information and, excopt to the extent otherwise expllcitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audlt of the financial statements, our responsibllity is to read the other information and, in doing so. con51der whether the other Informatlon is materially inconsistent with the financlal statements or our knowledge obtained in the audit or otherwise appear5 to be materially misstated. If we identify such material inconsi5tencles or apparent materlal mi55tatements, we are required to determine whether thls glve5 rise to a materlal misstatement in the financial statements themselves. If. based on the work we have performed. we conclude that there is a material mlsstatement of this other infomiatlon, we are required to report that fact. We have nothing to report In this regard. Opinlons on other matters prescribed by the Companles Art 2006 In our opinion, based on the work undertaken in the course of the audlt: the Informatlon given in the Report of the Trustees for the financial year for whlch the financial statements are prepared 15 consistent with the flnancial statements.. and the Report of the Trustees has been prepared in accordance with applicable le8al requirements. Page 8
Report of the IndepÈndent Auditors to the Members of Home-start Westmlnster, Kensington & Chelsea and Harnmer5mith & Fulham Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtsined in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report i n respect of the followin8 matters where the Companies Act 2006 requlres us to report to you If, in our opinion: adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not vislted by us,. or the financS81 statements are not in agreement with the accountin8 records and returns; or certain disclosures of tru5tees' remuneration specified by low are not made; or we have not received all the information and explanations we requlre 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. Responsibilities of trustees As explained more fully in the Statement of Trustees. Responsibllities, the trustees (who are also the directors of the charitable rompany for the purpose5 of cornpany lawl are responsible for the preparation of the financial Statements and for being satisfled thèt they glve a true and falr view. and for such internal control as the trustee5 determine is nece55ary to enable the preparation of flnancial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responslble for asse55ing the charit3ble company'5 ability to contlnue as a golng concern, dlscloslng, as applicable. matters related to golng concern and uslng the golng concern basis of accounting unles5 the trustees either intend to Ilquldate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 9
Report of the Independent Auditors to the Members of Home-start Westminster. Kenslngton & Chelsea and Hammersmith & Fulham Our responsibllltles for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materlal misstatement, whether due to fraud or error. and to Issue 3 Report of the Independent Audltors that includos our opinion. Reasonable assurance is a high level of assurance, but is not è 8uarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Mlsstatements can arlse from fraud or error and are consldered materlal if, indivldually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Extent to whlch the audlt was consldered capable of detecting lffeEularitles. Including fraud The objectives of our audit, in respect to fraud. are.. to identify and assess the risks of material misstatement of the flnancial statements due to fraud; to obtaln sufficient appropriate audlt evldence regarding the assessed rlsks of material mlsststement due to fraud, through deslgnlng and Implementing appropriate responses; and to respond appropriately to fraud or suspected fraud Identified during the audit. However, the primary responsibility for the prevention and detectlon of fraud rests with both those charged with governance of the entlty and it5 management. Our approach was asfollows: We identified areas of laws and regulations that could reasonably be expected to have a material effecton the financlal statements from our general commerclal and sector experience, and throughdiscu55ion wlth management las required by auditing standards), and dlscu55edwith management the pollcles and procedures regbrdin8 compliance with lawsand regulations- We consldered the legal and regulatory frameworks directly appllcable to the flnanclal statementsreportln8 framework IFRS 102, the Charities Act 2011 and the Companies Act 216) and the relevant tax compliance re8ulatlons in the UK,, We communicated identified laws and re8ulatlons throu8hout our team and remalned alert to anylndicatlon5 of non-compliance throughout the audit; We consldered the procedures and contro15 that the charltable company has established to addre55 risks identif led, or that otherwise prevent, deter and detect fraud; and how senior management monltorsthose programmes and controls. Based on thls understandlng we deslgned our audit procedure5 to identlfy nonompliance wlth such laws and regulations. Where the iisk was considered to be higher. we performed audit pro¢edure5 to address each Identifled fraud risk. These procedures included.. testing manual Journals; reviewing the flnanclal Statement disclosures and testing to 5UPPOrting documentation: performing analytical procedures. and enquiring of management, and were deSlEned to provide reasonable assurance that the financial statements were free from fraud or error. Owing to the inherent limitations of an audit, there is an unavoidable rlsk that we may not have detected some material mlsstatements in the financlal statement5. even though we have properly planned and performed our audit In accordance with auditing standards. For example, the further removed non-compllance with law5 and regulations (irregularities) 15 from the events and transactions reflected in the financial 5tatement5, the less Ilkely the inherenily limited procedures required by audltlng standards would Identlfy It. The risk Is also greater reg3rdlng irregularitles occurring due to fraud rather than error. as fraud involves intentional concealment. forgery, collusion, orni55ion or misrepresentatlon. We are not responsible for preventlng non-compliance and cannot be expected to detett non-compliance wlth all law5 and regulatlon5. A further des¢ription of our responsibilities for the audit of the financial statement5 15 located on the Flnancial Reporting Council's website at www.frc.or8.uk/auditorsresponslbllities. This description form5 part of our Report of the Independeni Auditors. Page 10
Report of the Independent Auditors to the Members of Home-start Westminster, Kensington & Chelsea and Harnmer5mith & 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 audlt work has been undertaken so that we might state to the charitable company's members those matters 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 assume responsibility to anyone other than the charltable company and the charltable company's members as a body. for our audit work. for this report, or for the opinions we have formed. Alasdair Weaks (Senior Statutory Audltorl for and on behalf of TC Group Statutory Auditor Offlce.. Croydon- rc swp 3rd Floor, Suffolk House George Street Croydon CRO OYN Date:..................,.......................... Page 11
HOME-sfART WESTMINsfER, KENSINGTON & CHELSEA AND HAMMERSMtTH & FULHAM Statement of Flnancial Actlvities for the year ended 31st Marth 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 28,581 4.639 33,220 137,712 Charltable activltles Charitable activities 207,540 348,972 556.512 476,059 Investment income 8,270 8,270 3,780 Total 244,391 353,611 598,002 617,551 EXPENDITURE ON Charltable artlvltles Charitable activities 107,432 375,435 482,867 477,219 NET INCOME/IEXPENDrruREI 136,959 121,824) 115.135 140,332 RECONCILIATION OF FUNDS Total funds brought forward 250.836 24,270 275,106 134,774 TOTAL FUNDS CARRIED FORWARD 387,795 2,446 390.241 275,106 The notes form part of these financial statements PaEe 12
HomE-ART WESTMINSTER. KENSINGTON & CHELSEAAND HAMMERSMITH & FULHAM Balance Sheet 31st March 2025 31.3.25 Total funds 31.3.24 Total fL)nds Unrestrirted funds Restricted funds Notes CURRENT ASSETS Debtors: amounts falling due wlthin one year Cash at bank io 1.400 414,447 1,4¢XI 416,893 35.000 263,075 2,446 415,847 2,446 418,293 298,075 CREDITORS Amounts falllng due within one year li 128,OS21 (28.0521 122,9691 NET CURRENT ASSETS 387.795 2,446 390.241 275,106 TOTAL ASSETS LESS CURRENT LIABILITIES 387,795 2,446 390,241 275,106 NET ASSET5 387,795 2,446 390.241 275,106 FUNDS Unre5trlcted funds Restrlcted funds 13 387,795 2,446 250,836 24,270 TOTAL FUNDS 390,241 275,106 These flnancial statements have been prepared in accordance with the provlslons appllcable to charitable Companles subject to the small companies regime. The flnancial ststements were approved by the Board of Trustees and authorlsed for issue on I¢%s... and were signed on its behalf by: C Smyth - Trustee A Haria- ustee The notes form part of these financial statements Page 13
HOME-sfART WESTMINSTER. KENSINGTON & CHELSEAAND HAMMERSMITH & FULHAM Cash Flow Statement for the year ended 31st March 2025 31.3.25 31.3.24 Notes Cash flow5 from operating activities Cash 8enerated from operatlons 145.548 97,704 Net cash provided by operatln8 activities 145,548 97,704 Cash flows from investin8 activities Interest receSved 8.270 3,780 Net cash provided by investing activities 8,270 3,780 Change In cash and cash equlvalents In the reporting period Cash and cash equlvalents at the beglnnlng of the reportlng perlod 153.818 101,484 263,075 161,591 Cash and cash equivalents at the end of thè reportlhg perlod 416,893 263,075 The notes form part ofthese financial statements Page 14
HOME-sfART WESTMINsfEII KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Notes to the Cash Flow Staternent for the year ended 31st March 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 31.3.25 31.3.24 Net income fol the reportlng period (as per the Statement of Financial Actlvltles} Adjustments for: Interest received Decreasellincreasel in debtors Increaselldecreasel in treditors 115,135 140,332 (8,270) 33,600 5,083 13.780) 135,0001 13,8481 Net cash provlded by operatlons 145,548 97,704 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31,3.25 Net cash Cash at bank 263,075 153,818 416,893 263,075 153,818 416,893 Total 263,075 153,818 416,893 The note5 form part of these financial statements Page 15
HOME-sfART WESTMINSTER. KENSINGTON & CHELSEA AND HAMMER5MITH & FULHAM Notes to the Financial Statements for the year ended 31st March 2025 GENERAL INFORMATION Home-start Westminster. Kenslngton & Chelsea and Hammersmith & Fulham is a company limited by guarantee, resistered In England and Wales (Company number: 052832721 and a charlty registered with the Charity Commission (registered number: 11095681. Home-start Westminster's reglstered address is St Paul's Church Centre, Rossmore Road, London, NWI 6NJ. The charity meets the deFinition of a public benefit entity under FRS 102. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities., statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlèl Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191,, Flnancial Reportlng Standa rd 102 'The Financlal Reportlng Standard applicable in the UK and Republic ol Ireland, and the Companies Act 2006. The flnancial 5tatement5 have been prepared under the historlcal cost conventlon. The flnancial statements hève been prepared in sterlln& the functlonal currency of the charlty, and monetary amounts in these financial statements have been rounded to the nearest £. Golng concern The charity started the 2024125 financial year on a flrm footing followlng a concerted drlve to diverslfy funding sources and addltlonal support from longstandin8 donors after unsuccessful funding appllcatlons left a fundSng 8ap in the first half of 2023124. With financial stability from the start of the year and reserves Sn a healthy posltlon, staff were able to focus on strengthenSn8 core work as well as offering new servlces. Having considered post year-end financial results and cash reserves. the trustees have a reasonable expectation that the charlty has adequate resources to continue In operatlonal existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financlal statements. Income All income is recognlsed in the Statement of Financial Attivities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Grant income 15 recognised when the charity ha5 entitlement to the funds, any performance condltlons attached to the grant5 have been met, it 15 probable that the income will be received and the amount can be measured reliably and 15 not deferred. Grant income recelved in advance for activities undertaken after the year end is deferred until the criteria for income recognitlon are met. Donations and simllar incoming resources are Included in the year in which they are receivable, which is when the charity become5 entitled to the resource. Investment income includes interest recelvable and 15 included in the accounts when the charity becomes entltled to the income. Page 16 continued...
HOME-START WESTMINSTER, KENSINGTON & CHELSEAAND HAMMERSMITH & FUIHAM Notes to the Financial Statements- continued for the year ended 315t March 2025 ACCOUNTING POLICIES - Continued Expendlture Liabilities are recognised a5 expenditure as soon as there is a legal or constructlve obllgation committing the charity to that expenditure. it Is probable that a transfer of economic benefits wlll 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 cla55ified under headings that aggregate all cost related to the cate80ry. Where costs cannot be dirertly attributed to particular headin85 they have been allocated to activities on a basis consistent with the use of resource5. All expenditure is shown inclusive of Irrecoverable VAT Taxation The charity is exempt from corporation tax on Its charitable activities. Fund accounting Unrestricted funds can be used In accordance wlth the charitable objectlves at the dlscretSon of the trustees. Restrlrted funds can only be used for partlcular restricted purposes withln the objects of the charlty. Restrictlon5 arlse when specified by the donor or when funds are raised for partlcular restrlcted purposes. Further explanation of the nature and purpose of each fund Is included In the notes to the financlal 5tatement5. Debtors Trade and other debtors are reco8nised at the settlement amount due after any trade dlscount offered. Prepayments are valued at the amount prepaid net of any trade discount5 due. Cash at bank and In hand Cash at bank and in hand includes cash and short-temi hlghly liquld investments with a short maturity of three months or less from the date of acqulsltlon or opening of the deposit or slmllar account. Credltors and provlslons Creditor5 and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of fund5 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. Flnancial Instruments The charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. Financlal asset5 and flnancial liabilitles are recognlsed when the charity becomes party to the contractual provisions of the instrument. Financial assets and Ilabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to sett off the recogni5ed amounts and there is an intention to settle on net basis or to reali5e the a55et and settle the liabllity simultaneously. Operatlng leases Rentals paid under operating leases aro charged to the statement of financial actlvitie5 on a straight line basls over the lease term. Governmentgrants Government grants are recogn15ed at the fair value of the a55et received or recelvable when there is reasonable assurance that the 8rant conditions will be met and the grant5 will be received. Page 17 continued...
HOME-START WESTMINSTER, KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Noles to the Financial Statements- continued for the year ended 31st March 2025 ACCOUNTING POLICIES- continued Government grants A grant that specifies perfomiance conditlons is recognised in Income when the performance conditlon5 are met. Where a grant does not specify performance conditions It is recognlsed in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liabilitv. Pension Costs and other p05t-retSrement benefits The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributlons Into a separate entlty. Once the contributlons have been pald the charity has no further payment obligatbons. The contributions are recognised as an expense in the Statement of Flnancial Activities when they fall due. Amounts not pald are shown in creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the charity In Independently administered funds. DONATIONS AND LEGACIES 31.3.25 31.3.24 Donations 33,220 137,712 INVESTMENT INCOME 31.3.25 31.3.24 Deposit account Interest 8,270 3,780 INCOME FROM CHARITABLE ACTIVITIES 31.3.25 31.3.24 Activity Charltable activities Grants 556,512 476,059 CHARITABLE AcfiviTIES COSTS Direet 05ts Support costs Total 31.3.25 Total 31.3.24 Staff cost5 Support of families 401,230 74,293 401,230 81,638 416,973 60,246 7,345 475,523 7,345 482.868 477,219 SUPPORT COSTS Total 31.3.25 Total 31.3.24 Auditors, remuneration 7,345 4,218 Page 18 continued...
HOME-START WESTMINSTER, KENSINGTON & CHELSEAAND HAMMERSMftH & FUIHAM Notes to the Financlal Statements- continued for the year ended 31st March 2025 TRUSTEES. REMUNERATION AND BENEFITS There were no tru5tees' remuneratron or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024. Trustees, expenses Trustee5 were not reimbursed with any expenses durin£ the year {2024 - £Nill. STAFF COSTS 31.3.25 31.3.24 Wages and salaries Social security costs Other penslon costs 356,109 29,796 15,325 372.384 29,542 15,047 401.230 416,973 The average number of staff employed during the year was 1212024 - 13). There were no staff paid more than £60.000 durlng the year12024- none). Durlng the year, the charlty incurred costs totallln8 £57,248, includlng employer's NIC and employer's penslon, in respect of key management personnel. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestrirted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and leBacies 137,712 137,712 Charitable ictivllles Charltable activities 165,IXJO 311,059 476,059 Investment Income 3,780 3,780 Total 306,492 311,059 617,551 EXPENDITURE ON Charitable artivitles Charitable activities 190,430 286,789 477,219 NEf INCOME 116,062 24.270 140,332 RECONCIIIATION OF FUNDS Total funds brought forward 134.774 134,774 Page 19 continued,..
HQME-sfART WESTMINSTER, KENSINGTON & CHELSEAAND HAMMERSMtTH & FUIHAM Noles to the Financial Statements - contlnued for the year ended 315t March 2025 COMPARATIVE5 FOR THE STATEMENT OF FINANaAL AcfiviTIES- contlnued Unrestricted funds Restricted funds Total funds TOTAL FUNDS CARRIED FORWARD 250.836 24,270 275.106 io. DEBTORS: AMouTrifs FALLING DUE wrfHIN ONE YEAR 31.3.25 31.3.24 Trade debtors Prepayments and accrued income 1,400 35,000 1,400 35,000 ii. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3,25 31.3.24 Trade creditors Soclal securlty and other taxes Other creditors Accruals and deferred income 911 8,797 219 18,125 1.188 7,017 639 14,125 28,052 22,969 Deferred Incorne reconclliation 31.3.25 31.3.24 8alance brought forward Amount released to the Statement of Financ5al Activitles Amounts deferred in the year 9,925 14,458 {14,4581 9,925 Balance earned forward 9.925 9,925 The deferred income at 31st March 2025 relates to a performance-related grant from Westminster City Council to run the Healthy Comrnunlties Fund project, which is received quarterly in advance. LEASING AGREEMENTS 12. Mlnimum lease payments under non-cancellable operating leases fall due as follows: 31.3.25 31.3.24 Within one year Between one and flve year5 20,846 50,378 20,846 71.224 71,224 92,070 Page 20 continued...
HOME-sfART WESTMINSTER, KENSIPIGTON & CHELSEA AND HAMMERSMITH & FULHAM Notes to the Financial Statements- continued lor the year ended 31st March 2025 13. MOVEMENT IN FUNDS Net movement in fund5 At 31.3.25 At 1.4.24 Unrestricted funds General fund 250,836 136,959 387,795 Restrlrted funds Westmlnster Foundation WAES City Bridge Trust Young Westrninster Foundation Westminster City Council - Core Funding John Lyon5 SHAF Effective Construction Service5 National Bar)k of Kuwait 8.086 1,778 18,086) 11,300} 690 18,2961 14,3131 {1,797} 859 419 478 690 8,296 4,313 1,797 859 419 24,270 121,824) 2,446 TOTAL FUNDS 275.106 115,135 390,241 Net movement in funds. Included In the above are as follows: Incoming resources Resources expended Movement In fund5 Unrestrlcted funds General fund 244.391 1107,432} 136,959 Restrlcted funds National Lottery Community Fund Family grants received Kensington & Chelsea Westminster Foundation WAES City Brid8e Trust Hammersmith & Fulham Volunteer DBS Income Young Westminster Foundatlon Westminster City Council - Core Funding John Lyon5 SHAF Effective Construction Services Groundswell National Bank of Kuwait Westmlnster Clty Council Healthy Communities 111,467 623 39,652 (111,4671 16231 139,6521 18,0861 117,3001 177,1721 {31,668) 192} (8,2961 134,313) 11,797} 11,141} 12,OWI 12,1281 18,0861 11,3001 690 16.ofKI 77,862 31,668 92 18.296) 14,3131 11,7971 859 30.000 2,CQO 2,CQO 2.547 419 39,7C(J (39,7001 353,611 1375,4351 121,824) TOTAL FUNDS S98,002 1482.867) 115,135 Page 21 continued...
HOME-5fART WESTh*llNSTER. KENSINGfoN & CHELSEA AND HAMMERSMITH & FULHAM Notes to the Financial Statement5- continued for the year ended 315t March 2025 13. MOVEMENT IN FUNDS- ¢ontlnued Comparatlves for 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 Restrirted funds WAES Young Westminster Foundation Westminster City Council - Core Funding Westmlnster Foundation 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 Comparative net movement In funds, included in the above are as follows: Incoming resources Resources expended Movement Sn funds Unrestrlcted funds General fund 306,492 1190,4301 116,062 Restrlcted funds National Lottery Community Fund Family grants recelved John Lyons Charity Kensington & Chelsea WAES NHS CNWL Perinatal Mental Health Hammersmith & Fulham Volunteer DBS Income Young Westmln5ter Foundation The Howard de Walden Estate Pears Breathlng Space Peter Stebblngs Memorial Charity Westminster City Council - Core Funding Westminster Foundation John Lyon5 SHAF 109.769 340 49.158 42,400 13,970 4.4Ck) 30,450 647 10.000 10,000 io.ooo 5,lJ)O 9.925 10,000 5.0 1109,7691 13401 149,158) 142.4001 {12,1921 14,4001 {30,4501 1647) {1.704} iio.0001 iio.000) 15,0001 15,6121 11.9141 13,2031 1,778 8,296 4.313 8,086 1,797 311.059 {286,7891 24.270 TOTAL FUNDS 617.551 1477,2191 140,332 Page 22 continued...
HOME-sfART WESTMINsfER, KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Notes to the Financial Statements- continued for the year ended 31st March 2025 13. MOVEMENT IN FUND5- continued Restricted funds have been received to support speciflc proBramme delivery costs and projects that contrlbute to the charity's overall vision that every parent has the 5UPPOrt they need to give their children the best start in life. Some of the funding relates our general support work, but in defined Boroughs, whereas other grants have been received to help fund specific activities, such as volunteer training and support, provldin8 grants to families, covering the costs of OBS checks, community learning pro8rammes or school holiday activities, RELATED PARTY DISCLOSURES 14. During the year, donations were received from trustees. key management and related parties totalling £920 {2024 - £1.952). No restrictions or conditions were attached to any of these donations. There were no other related party transactions requiring disclosure in elther the current or prior years. COMPANY LIMITED BY GUARANTEE 15. Home-Stort Westminster, Kensington & Chelsea and Hammersmith & Fulham Is a company limited by guèrantee and accordlngly does not have a share capltal. Every member of the company undertakes tg contribute such amount as may be required not exceedlng El to the assets of the charltable company In the event of Its belng w¢)und up whlle he or she 15 a member, or wlthln one year after he or she ceases to be a member. Page 23
HOME-START WESTMINSTER. KENSINGTON & CHELSEA AND HAMMERSMITH & FULHAM Detalled Statement of Financial Activlties for the year ended 31st March 2025 31.3.25 31.3.24 INCOME AND ENDOWMETrif5 Donatlons and legacies Donations 33,220 137,712 Investment Income Deposit account interest 8.270 3,780 Charltable artlvltles Grants 556,512 476,059 Total incomlng resources 598,002 617,551 EXPENDITURE Charltable actlvltles Support of familles 482,867 477,219 Total resource5 expended 482,867 477,219 Net income IIS,135 140,332 Thls pa8e does not form part of the statutory financlal statements Page 24