COMPANY REGISTRATION NO.: 5400096 (ENGLAND & WALES) CHARITY REGISTRATION NO.: 1109629 (ENGLAND & WALES)
HOME-START WOKINGHAM DISTRICT
FINANCIAL STATEMENTS
31 MARCH 2024
Home-Start Wokingham District
Statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 March 2024
| For the year ended 31 March 2024 | For the year ended 31 March 2024 | |||||
|---|---|---|---|---|---|---|
| Note Unrestricted | Restricted | 2024 Total |
Unrestricted | Restricted | 2023 Total |
|
| £ | £ | £ | £ | £ | £ | |
| Income from: 2 2 2 2 2 2 2 2 2 3 3 Big Lottery Fund TFL Berkshire Community Fund Fundraising Trusts & Foundations Wokingham Borough Council Expenditure on: Other Total income Homestart Grants Donations and legacies Charitable activities Donations Councils & Parishes Interest Raising funds Charitable activities Big Lottery TFL & Awards for All |
- - 10,000 - 24,261 24,725 25,900 10,844 9,794 2,304 - 107,828 |
- - - - - - - - - - - - - |
- - 10,000 - 24,261 24,725 25,900 10,844 9,794 2,304 - 107,828 - - |
- - 10,000 250 33,696 48,248 8,000 12,159 6,350 593 - 119,296 |
- 21,536 - - - - - - - - - 21,536 21,536 |
- 21,536 10,000 250 33,696 48,248 8,000 12,159 6,350 593 - 140,832 - 21,536 |
| 3 Berkshire Community Fund |
10,000 | - | 10,000 | 10,000 | - | 10,000 |
| 3 Homestart Grants Fundraising |
- - |
- - |
- - |
363 31,249 |
- - |
363 31,249 |
| 3 Wokingham Borough Council |
24,725 | 24,725 | 48,248 | 48,248 | ||
| 3 3 3 Reconciliation of funds: 11 Transfers between funds Net income / (expenditure) before other (Increase)/Reduction in reserves Total funds carried forward Total expenditure Net movement in funds Total funds brought forward Net income / (expenditure) for the year Donations Councils & Parishes Trusts & Foundations |
4,755 - - 39,480 68,348 - 68,348 (16,983) 51,365 53,156 104,521 |
- - - - - - - - - - - |
4,755 - - 39,480 68,348 - 68,348 (16,983) 51,365 53,156 104,521 |
10,932 15,066 6,350 122,208 (2,912) - (2,912) 33,102 30,190 22,966 53,156 |
1,776 13 - 23,325 (1,789) - (1,789) - (1,789) 1,789 - |
12,708 15,079 6,350 145,533 (4,701) - (4,701) 33,102 28,401 24,755 53,156 |
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.
Home-Start Wokingham District
Notes to the financial statements
For the year ended 31 March 2024
- 1 Accounting policies
a) Basis of preparation
The financial statements 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) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
b) Public benefit entity
The charitable company meets the definition of a public benefit entity under FRS 102.
c) Going concern
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.
The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
d) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
e) Interest receivable
-
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
-
f) Fund accounting
-
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
g) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose
-
Expenditure on charitable activities includes the costs of delivering services, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs
-
Other expenditure represents those items not falling into any other heading
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Home-Start Wokingham District
Notes to the financial statements
For the year ended 31 March 2024
-
1 Accounting policies (continued)
-
h) Allocation of support costs All resources, including the cost of overall direction and administration, are now solely attributable to our core activity of providing support to families, with at least one child under the age of five years, through home visiting services.
i) Tangible fixed assets
Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
-
Computer Equipment
-
Fixtures & Fittings
3 years 5 years
j) Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service users.
k) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past 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.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
l) Pensions
The charity participates in The Pensions Trust Growth Plan Scheme, which is a multi-employer scheme which provides benefits to some 1300 non associated participating employers. It is a defined benefit scheme in the UK. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. A full actuarial valuation for the scheme was carried out at 30 September 2014 and showed assets of £793m and liabilities of £970m and a deficit of £177m. We are paying additional contributions of £421.96 per annum (2021: £421.96 per annum) to eliminate our portion of the deficit by 2025 .
Home-Start Wokingham District
Notes to the financial statements
For the year ended 31 March 2024
- 2 Income from charitable activities
| Interest Income Big Lottery TFL Fundraising Wokingham Borough Council Sub-total for charitable activity Trusts & Foundations Donations Total income from charitable activities Berkshire Community Fund Councils - Town & Parish Sub-total for restricted & un-restricted charitable activities Homestart Grants |
Unrestricted £ 24,725 10,000 - 25,900 9,794 10,844 81,263 24,261 2,304 26,565 107,828 |
£ - - - - - - - - - - - - Restricted |
2024 Total £ - 24,725 10,000 - 25,900 9,794 10,844 81,263 24,261 2,304 26,565 107,828 |
2023 Total £ 21,536 48,248 10,000 250 8,000 6,350 12,159 106,543 33,696 593 34,289 140,832 |
|---|---|---|---|---|
Starting with the year under review, the split between restricted & Unrestricted funding was re-assessed. Previous years' figures have also been accordingly shown for comparison.
Home-Start Wokingham District
Notes to the financial statements
For the year ended 31 March 2024
- 3 Analysis of expenditure [the charitable activities should correspond to those itemised for income purposes]
Charitable activities
| Staff costs (Note 5) Direct cost Support cost Governance costs Total expenditure 2024 Total expenditure 2023 |
Cost of raising funds £ - 31,249 |
Big Lottery TFL £ - 21,536 |
Berkshire Community Fund £ 10,000 10,000 10,000 |
Wokingham Borough Council £ 22,762 1,762 201 24,725 48,248 |
Trusts & Foundations - Restricted £ - 1,776 |
Donations - Restricted £ - 13 |
Donations - Unrestricted £ - 15,066 |
Home Start UK £ - 363 |
Councils - Town & Parish £ - 6,350 |
Trusts & Foundations - Unrestricted £ 769 3,986 4,755 10,932 |
2024 Total £ 32,762 1,762 769 4,187 39,480 145,533 |
2023 Total £ 112,277 23,785 871 8,600 145,533 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Home-Start Wokingham District
Notes to the financial statements
For the year ended 31 March 2024
- 4 Net incoming resources for the year
This is stated after charging / crediting:
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|---|---|---|
|2024|2023|
|£|£|
|Auditors' remuneration (including VAT):|
|Independent Examination|500|500|
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5
Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel Staff costs were as follows:
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|---|---|---|
|2024|2023|
|£|£|
|Salaries and wages|27,847|96,775|
|Social security costs|825|769|
|Employer’s contribution to defined contribution pension schemes|4,090|13,694|
|-|
|Other forms of employee benefits|1,039|
|32,762|112,277|
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No employee earned more than £60,000 during the year (2023: nil).
The total employee benefits including pension contributions of the key management personnel were £32,762 (2023: £112,277).
The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).
Trustees' expenses represents the payment or reimbursement of general expenses totalling £150 (2023: £25) incurred by 10 (2023: 10) members relating to attendance at meetings of the trustees.
6 Staff numbers
The average number of employees (head count based on number of staff employed) during the year was as follows:
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|---|---|---|
|2024|2023|
|No.|No.|
|Support|3|6|
|3|6|
|7|Creditors: amounts falling due within one year|
|2024|2023|
|£|£|
|Accruals|500|8,242|
|-|
|Accounts Payable|4,844|
|-|-|
|Deferred income (Note 9 below for details)|
|500|13,086|
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Home-Start Wokingham District
Notes to the financial statements
For the year ended 31 March 2024
- 8 Deferred income
Deferred income £nil (2023: £nil)
9 Pension scheme
The charity participates in The Pensions Trust Growth Plan Scheme, which is a multi-employer scheme which provides benefits to some 1300 non associated participating employers. It is a defined benefit scheme in the UK and HSWD had 4 members in the year. Our liability is £518 which is expected to be cleared by 2025.
10. Restricted winding up reserve
The charity has a policy of maintaing an adequate reserve of funds for the winding up should there ever be a need to do so. Each year the cost is reviewed and increased or decreased as appropriate. The cost is made up of all necessary expenses such as staff cost & legal or professional charges.
11 Movements in funds
| Total restricted funds Total Unrestricted funds 12 Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents Total funds Trusts & Foundations Fundraising Donations Councils - Town & Parish Donations Homestart Grants Berkshire Community Fund Unrestricted funds: Big Lottery Fund (TFL & Awards for All) Wokingham Borough Council Restricted Funds Trusts & Foundations |
At the start of the year £ - - - - - - - - - - 53,156 53,156 53,156 |
Incoming resources & gains £ - - - - 24,725 10,000 - 25,900 9,794 10,844 24,261 105,524 105,524 At 1 April 2023 £ 81,579 81,579 |
Outgoing resources & losses £ - - - - (24,725) (10,000) - (4,755) - - - (39,480) (39,480) Cash flows £ 55,741 55,741 |
Interest & increase in reserve £ - - - - - - - - - (14,679) (14,679) (14,679) Other changes £ - - |
At the end of the year £ - - - - - - - 21,145 9,794 10,844 62,738 104,521 104,521 £ 137,320 137,320 At 31 March 2024 |
|---|---|---|---|---|---|
- 13 Legal status of the charity
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
Home-Start Wokingham District
Balance sheet
| Balance sheet | ||||
|---|---|---|---|---|
| As at 31 March 2024 | Company no. 5400096 | |||
| Note Current assets: Cash at bank and in hand Accounts Receivable & Prepayments |
£ 137,320 206 |
2024 £ |
£ 81,579 316 |
2023 £ |
| Liabilities: 7,8 Creditors: amounts falling due within one year |
137,526 500 |
81,895 13,086 |
||
| Net current assets / (liabilities) | 137,026 | 68,809 | ||
| Total assets less current liabilities | 137,026 | 68,809 | ||
| 9 Net assets excluding pension asset / (liability) Defined benefit pension scheme asset / (liability) |
137,026 (518) |
68,809 (649) |
||
| Total net assets / (liabilities) | 136,508 | 68,160 | ||
| 10 11 Unrestricted income funds: Restricted Winding up reserve The funds of the charity: |
31,987 104,521 |
15,004 53,156 |
||
| Total charity funds | 136,508 | 68,160 |
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
No members have required the company to obtain an audit of its accounts for the year in question in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the trustees on and signed on their behalf by
Signature A Guna Date 14 June 2024 Trustee Treasurer Signature Chris Jack Chas act Date 14th June 2024 Chair of Trustees