05383923
CHARITY REGISTERED NUMBER: 1109674
HOME-START CORBY LIMITED
DIRECTORS' AND TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
MOORE CHARTERED ACCOUNTANTS OAKLEY HOUSE HEADWAY BUSINESS PARK 3 SAXON WAY WEST CORBY NORTHAMPTONSHIRE NN18 9EZ
HOME-START CORBY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Company number: | 05383923 |
|---|---|
| Registered charity number: | 1109674 |
| Directors: | L Hammond |
| M A Palazzo | |
| M E Parish | |
| C A Sandall | |
| A J J Marsden-Findlay | |
| J M C Chambers | |
| E L Cunningham | |
| J L Carter | |
| M J Packer (Appointed 20 April 2022) | |
| Trustees: | L Hammond |
| M A Palazzo | |
| M E Parish | |
| C A Sandall | |
| A J J Marsden-Findlay | |
| J M C Chambers | |
| E L Cunningham | |
| J L Carter | |
| M J Packer (Appointed 20 April 2022) | |
| Secretary: | M MacKay |
| Registered office: | Oakley House |
| Headway Business Park | |
| 3 Saxon Way West | |
| Corby | |
| Northamptonshire | |
| NN18 9EZ | |
| Accountants: | Moore |
| Chartered Accountants | |
| Oakley House | |
| Headway Business Park | |
| 3 Saxon Way West | |
| Corby | |
| Northamptonshire | |
| NN18 9EZ | |
| Business Address: | Pen Green Children’s Centre |
| Pen Green Lane | |
| Corby | |
| Northamptonshire | |
| NN17 1BJ |
Page 1
HOME-START CORBY LIMITED
DIRECTORS' AND TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The Trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the financial statements for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
Objectives and activities
The charity is a voluntary organisation committed to promoting the welfare of families with at least one child under five years of age. Volunteers offer regular support, and practical help to families under stress in their own homes, helping to prevent family crisis and breakdown. Home-Start Corby Limited is committed to working alongside families in a non-judgemental way; listening, enabling and supporting.
Achievements and performance
During the year the charity has continued to run preparatory courses for our parent volunteers. These courses have been well attended and we are very fortunate to receive committed and enthusiastic volunteers to support families with young children. The majority of our referrals continue to be from health visitors and the volunteers have continued to give excellent support to families. Candidates as additional trustees are continually being sought to add to the breadth and strength of experience on the board.
Since May 2017 the charity has been working on the Reaching Communities Big Lottery Fund project ‘Home Wasn’t Built In a Day’. This project has been developed with both families and partner agencies in Corby and aims to help families access the support they need and focus on more practical aspects of parenting such as brightening up their home environment, budgeting, options for healthier lifestyles and planning options for returning to work or education.
This project was due to end on 30 April 2021, but the trustees are delighted that the charity was awarded £34,379 to extend the project to 31 August 2021 and then a further £419,664 to continue for a further four years until August 2025.
In addition, the charity has worked on additional projects during the year on behalf of the following fund providers:-
Kingswood and Hazel Leys Big Local
This project enables us to recruit and train highly skilled volunteers to be matched with families and offer practical support and emotional wellbeing support to families across the KHL Big Local reach. This project will run until 31 August 2022.
The Department of Environment , Food & Rural Affairs (Defra)
This project was to support with food poverty across the winter months. As well as providing food for families we were able to provide utensils such as saucepans and cookery sacks and the provision of gas and electricity to ensure that cooking could be carried out. We were also able to work with families to support better understanding of eating and cooking on a budget while making healthier food choices.
Home-Start UK
The aim of the project was to improve the school readiness of children by providing Big Hopes, Big Future® support to families. The programme enabled volunteers to use original, specially produced materials for working directly with young children in the families they are supporting. Volunteers where able to help develop story times, early numeracy skills and understanding of the routines of the school day. This project will run until 21 May 2022
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HOME-START CORBY LIMITED
DIRECTORS' AND TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
Northamptonshire Community Foundation
The Bambino Mio project was aimed at families facing poverty, with the most severe issues including child poverty , food poverty , child hunger and social isolation which became exacerbated by the pandemic and job losses in the community. The charity focused on the ongoing Eat Smart with HomeStart Corby initiative and the provision of practical packs for families and children.
Financial review
The Trustees are satisfied with the results for the financial year and with the position at the balance sheet date.
Reserves policy
Unrestricted reserves are needed to provide funds to maintain a level of service delivery in the event of unanticipated shortfalls in income; to provide funds which can be designated to projects at short notice in the event of a perceived need; to avoid the necessity of realising fixed assets held for charitable use; and to cover management, administration, fundraising and support costs without which the charity could not function. The unrestricted reserves as at the year end were £95,726 (2021: £84,974).
The trustees have examined the requirement for free reserves, which are those unrestricted funds not invested in fixed assets, designated for specific purposes or otherwise committed. The trustees consider that, given the nature of the charity's work, free reserves should not fall below 3 months revenue expenditure, but with the intention of achieving a level of 6 months.
The policy is monitored and reviewed annually by the trustees.
Plans for future periods
The charity will continue to work on the Big Lottery ‘Home Wasn’t Built In A Day’ project until 31 August 2025. We will continue to seek new funding opportunities to improve the outcomes for children and families in our community.
Structure, governance and management
Governing document
The organisation is a charitable company limited by guarantee, incorporated on 7 March 2005 and registered as a charity on 7 March 2005. The company was established under a Memorandum and Articles of Association which establish the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Appointment of trustees
The trustees are responsible for the administration and investment policy of the Scheme. Trustees are appointed and removed by the sponsoring employer.
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HOME-START CORBY LIMITED
DIRECTORS' AND TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
The trustees who served during the year were:-
L Hammond M A Palazzo M E Parish C A Sandall A J J Marsden-Findlay J M C Chambers J L Carter M J Packer (Appointed 20 April 2022)
Trustee induction and training
New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the decision making processes and the objectives of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. The charity has undertaken a skills audit of its trustees. The board aims to have a diverse membership which accurately reflects the communities of Corby.
Organisation
The charity has a management committee who meet regularly and is responsible for the strategic direction and policy of the charity. The members are from a variety of backgrounds relevant to the work of the charity.
Risk policy
The trustees do not believe the charity is subject to any substantial risks beyond the liabilities disclosed in the report and accounts. The trustees have ensured that full employer's liabilities are in place to protect the organisation in the event of someone being injured or a claim being made against themselves as employees of the organisation. An insurance policy covering equipment and contents is also in place along with legal expenses cover.
Trustees' responsibilities in relation to the financial statements
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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HOME-START CORBY LIMITED
DIRECTORS' AND TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board of directors and trustees on 6 October 2022 and signed on its behalf.
M A Palazzo Trustee
Page 5
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF HOME-START CORBY LIMITED
FOR THE YEAR ENDED 31 MARCH 2022
We report to the charity trustees on our examination of the accounts of the company for the year ended 31 March 2022 which are set out on pages 7 to 14.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied ourselves that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, we report in respect of our examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out our examination we have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect:
-
accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by.
We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Moore Chartered Accountants Oakley House Headway Business Park 3 Saxon Way West Corby Northamptonshire NN18 9EZ
15 November 2022
Page 6
COMPANY NUMBER: 05383923
HOME-START CORBY LIMITED
BALANCE SHEET
AT 31 MARCH 2022
| Note 2021 £ £ £ Tangible fixed assets Tangible assets 3 162 Current assets Cash at bank and in hand 153,434 118,634 Debtors - 456 –––––– –––––– 153,434 119,090 Creditors Amounts falling due within one year 4 53,017 23,268 –––––– –––––– Net current assets 100,417 –––––– Total assets less current liabilities 100,579 –––––– Net assets 100,579 –––––– Capital funds Restricted funds 4,853 Unrestricted funds 95,726 –––––– Total funds 100,579 –––––– |
2022 £ 217 95,822 –––––– 96,039 –––––– 96,039 –––––– 11,065 84,974 –––––– 96,039 –––––– |
|---|---|
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Directors' responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard 102. Approved by the trustees on 6 October 2022 and signed on its behalf.
M A Palazzo Trustee
The annexed notes form part of these financial statements.
Page 7
HOME-START CORBY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2022
Unrest'd funds £ Income and endowments from: Donations, grants and legacies 16,602 ––––––– – Total income and endowments 16,602 ––––––– – Expenditure on: Raising funds - Charitable Activities 5,850 ––––––– – Total expenditure 5,850 ––––––– – Net movement in funds 10,752 Total funds brought forward 84,974 Transfer between funds - ––––––– – Total funds carried forward 95,726 ––––––– – |
Rest'd Total Total income funds funds funds 2022 2021 £ £ £ 123,761 140,363 186,764 –––––– ––––––– ––––––– 123,761 140,363 186,764 –––––– ––––––– ––––––– - - - 129,973 135,823 162,132 ––––––– ––––––– –––––– 129,973 135,823 162,132 ––––––– ––––––– –––––– (6,212) 4,540 24,632 11,065 96,039 71,407 - - - ––––––– ––––––– –––––– 4,853 100,579 96,039 ––––––– ––––––– –––––– |
Rest'd Total Total income funds funds funds 2022 2021 £ £ £ 123,761 140,363 186,764 –––––– ––––––– ––––––– 123,761 140,363 186,764 –––––– ––––––– ––––––– - - - 129,973 135,823 162,132 ––––––– ––––––– –––––– 129,973 135,823 162,132 ––––––– ––––––– –––––– (6,212) 4,540 24,632 11,065 96,039 71,407 - - - ––––––– ––––––– –––––– 4,853 100,579 96,039 ––––––– ––––––– –––––– |
|---|---|---|
Details of incoming resources and resources used are given in the notes to the financial statements.
Page 8
HOME-START CORBY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
DETAILED ANALYSIS OF MOVEMENTS IN FUNDS
FOR THE YEAR ENDED 31 MARCH 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| £ £ |
£ | £ | ||
| - Unrestricted fund | ||||
| Opening balance | 84,974 | 52,816 | ||
| Voluntary income from generated funds | 16,602 | 36,098 | ||
| Costs re charitable activities | (5,850) | (10,076) | ||
| Transfer from restricted | - | 6,136 | ||
| –––––– | –––––– | |||
| 95,726 | 84,974 | |||
| - Family fund | ||||
| Opening balance | - | 6,522 | ||
| Voluntary income from generated funds | - | 48 | ||
| Costs of generating funds | - | (434) | ||
| Transfer to unrestricted | - | (6,136) | ||
| –––––– | –––––– | |||
| - | - | |||
| - BBC children in need | ||||
| Voluntary income from generated funds | - | 29,453 | ||
| Costs re charitable activities | - | (29,453) | ||
| –––––– | –––––– | |||
| - | ||||
| - | ||||
| -Big lottery fund | ||||
| Opening balance | 5,654 | 4,682 | ||
| Voluntary income from generated funds | 99,410 | 96,237 | ||
| Costs re charitable activities | (102,208) | (95,265) | ||
| ______ | ______ | |||
| 2,856 | 5,654 | |||
| - Kingswood & Hazel Leys fund | ||||
| Opening balance | 4,031 | 4,109 | ||
| Voluntary income from generated funds | 10,000 | 12,000 | ||
| Costs re charitable activities | (12,034) | (12,078) | ||
| ______ | ______ | |||
| 1,997 | 4,031 | |||
| - Corby Borough Council | ||||
| Opening balance | - | 3,278 | ||
| Voluntary income from generated funds | - | - | ||
| Costs re charitable activities | - | (3,278) | ||
| ______ | ______ | |||
| - | - | |||
| - Pears Foundation | ||||
| Opening balance | - | - | ||
| Voluntary income from generated funds | - | 5,720 | ||
| Costs re charitable activities | - | (5,720) | ||
| ______ | ______ | |||
| - | - | |||
| - Department of Environment, Food & Rural Affairs (Defra) | ||||
| Opening balance | 1,380 | - | ||
| Voluntary income from generated funds | - | 5,000 | ||
| Costs re charitable activities | (1,380) | (3,620) | ||
| ______ | ______ | |||
| - | 1,380 | |||
| –––––– | ––––– |
Page 9
HOME-START CORBY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
DETAILED ANALYSIS OF MOVEMENTS IN FUNDS
FOR THE YEAR ENDED 31 MARCH 2022
----- Start of picture text -----
- CJRS grant income
- -
Opening balance
Grant income received 914 2,208
Costs re charitable activities (914) (2,208)
__ _
- -
–––––– –––––
- Big Hopes Big Future
Grant income received 10,437 -
Costs re charitable activities (10,437) -
- -
–––––– –––––
- Bambino Mio
Grant income received 3,000 -
Costs re charitable activities (3,000) -
___
- -
–––––– –––––
– Total funds at 31 March 2022
100,579 96,069
–––––– ––––
–
----- End of picture text -----
Page 10
HOME-START CORBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies
Company information
Home-Start Corby Limited is a charitable company limited by guarantee, incorporated in England and Wales. The registered office is Oakley House, Headway Business Park, 3 Saxon Way West, Corby, Northamptonshire, NN18 9EZ. The place of business is given on the legal and administrative information page of these financial statements.
Accounting convention
These financial statements have been prepared in accordance with the statement of recommended practice FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (Charities SORP FRS 102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies’ regime. The disclosure requirements of the Charities SORP (FRS 102) have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Income and endowments
These are included in the statement of financial activities at the point of receipt and are measured at fair value. If it is impractical to measure the fair value of goods donated for resale or distribution, the donated goods must then be recognised as income when they are sold or distributed.
Resources expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Depreciation of fixed assets
A full year's depreciation is charged in the year of acquisition of an asset but none in the year of disposal.
Depreciation has been computed to write off the cost of fixed assets over their expected useful lives at the following rates:-
Fixtures and fittings
25% per annum reducing balance basis
Fund accounting
General funds comprise unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Restricted funds are subject to the conditions imposed by the donors.
Pension costs
Payments to defined contribution retirement benefit schemes are charged as an expense as they become payable.
Taxation
No corporation tax has been provided for in the financial statements as the income of the company as a registered charity is within the exemptions granted by Section 505 of the Income and Corporation Taxes Act 1988.
Page 11
HOME-START CORBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
Going concern
Whilst the impact of coronavirus has dissipated to some degree, the legacy of its effect continues to be felt throughout most sectors of the economy. Other matters such as supply chain issues and rising prices, particularly fuel and energy, are impacting across all businesses. Going concern is therefore an important area that the directors are keeping under close scrutiny. No immediate concerns in relation to the company's long term future have been identified, but this area continues to be monitored. The directors are satisfied that the steps they have taken in the short term are appropriate and effective.
2. Turnover
Income is attributable solely to continuing operations and derives from charitable donations and grants received.
3. Tangible fixed assets
| Plant and | |
|---|---|
| machinery | |
| £ | |
| Cost: | |
| At 1 April 2021 | 4,368 |
| ––––– | |
| At 31 March 2022 | 4,368 |
| ––––– | |
| Depreciation: | |
| At 1 April 2021 | 4,151 |
| Charge for the year | 55 |
| ––––– | |
| At 31 March 2022 | 4,206 |
| ––––– | |
| Net book value: | |
| At 31 March 2022 | |
| 162 | |
| ––––– | |
| At 31 March 2021 | |
| 217 | |
| ––––– |
Page 12
HOME-START CORBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
4. Creditors
Amounts falling due within one year:-
| Sundry creditors Other taxes & PAYE |
2022 £ 51,031 1,986 ––––– 53,017 ––––– |
2021 £ 21,769 1,499 ––––– 23,268 ––––– |
|---|---|---|
5. Limited by guarantee
Every trustee of the company undertakes to contribute to the assets of the company, in the event of it being wound up while he/she is a trustee or within one year afterwards, for payment of the debts and liabilities of the company, contracted before he/she ceases to be a member, and the costs, charges and expenses of winding up and for the adjustment of the rights of contributories among themselves, such amounts as may be required not exceeding £1.
6. Incoming resources
| Incoming resources | ||||
|---|---|---|---|---|
| Rest'd | ||||
| Unrest'd | income | Total | Total | |
| funds | funds | funds | funds | |
| 2022 | 2022 | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Voluntary income | ||||
| Voluntary income from generated funds | 16,602 | 123,761 | 140,363 | 186,764 |
| ––––––– | ––––––– | ––––––– | –––––––– | |
| 16,602 | 123,761 | 140,363 | 186,764 | |
| ––––––– | ––––––– | ––––––– | ––––––– |
7. Pension costs
The charity contributes to a defined contribution pension scheme for qualifying employees. The assets of the scheme are held separately from the charity in independently administered funds. The pension costs included in the statement of financial activities represents contributions payable by the charity to the funds and amounted to £7,513 (2021 £10,705).
8. Amounts due to independent examiner
The following amounts were due to the independent examiner at the year end:
2022 |
2021 | |
|---|---|---|
| £ | £ | |
| Amounts due | ||
| Annual return fees | 13 | 13 |
| Payroll | 984 | 660 |
| Independent examination | 445 | 450 |
| ––––––– | ––––– | |
| 1,442 | 1,123 | |
| ––––––– | –––––– |
–
–
Page 13
HOME-START CORBY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
9. Staff costs
| Staff costs | ||
|---|---|---|
| 2022 | 2021 | |
| £ | ||
| £ | ||
| Wages and salaries | 87,679 | 107,464 |
| Social security cost | 2,223 | 3,204 |
| Pension cost | 7,513 | 10,705 |
| ––––––– | –––––– | |
| 97,415 | 121,373 | |
| ––––––– | ––––––– |
The average monthly number of persons employed by the charity during the year was 5 (2021: 7). There were no employees with emoluments above £60,000.
No trustees were remunerated or received reimbursement of expenses in the year.
During the year, the charity received CJRS income from the government to cover wages costs for furloughed employees. This income is restricted as it is for specific employees wages and therefore associated wage costs have been transferred to restricted funds.
Page 14