REGISTERED CHARITY NUMBER: 1109867 Charity Commission 10 MAR Z025 Received ort of the Tru ees and Unaudited Financial Statem ts for the Year Ended 31 Dember 2023 for The Hone Yose Foundation Nathans Chartered Certified Accountants Trident Business Centre Amy Johnson Way Blackpool Lencashire FY4 2RP
The Hone rose Foundation Contents of the Financial Statements for the Year Ended 31 December 2023 Page Chairman's Report Report of Ihe Trustees Indep8ndent Examiner's Report Statement of Financial Activities Balan Sheet Notes to the Financial Statements 8 to 14 Detailed Statement of Financial Activities 15 to 16
The Hone rose Foundation Chairman's Re for the Year Ended 31 Dember 2023 It gives me great satisfaction lo say that we have survived another year but sadly our offices and function room have gone as the landlord 59ld the building. Vve now rent the ground floor from our new landlord. So now we have another obstacle to climb. It was very sad lo see everything moved to storage. We have a 3 year lease but after that things are uncertain. Page 1
The Hone rose FoLtnd8tion ort of the Trustees h Year Ended 31 December 2023 or The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable ta charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102> (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims To provide special days for people 40 years and above, who are suffering from a lifg threatening or terminal illness, in order to give them and their family special memories. Significant activities We have continued providing wish85 during the year and will continue the good work that was started in 2004. This year is our 20th Annivèrsary and in those 20 years we have helped approximately 12,500 people. We look forward to continuing for years to come. Publlc benefit The trustees have continued to expand the area covered for their aims to offer their charitable works to the greater public. The trustees confimi that they have complied with the requirements of section 4 of the Charities A¢t 2011 to have due regard to the public benefil guidancp published by the Charity Commission for England and Wales. Volunteers The trustees would like to thank all volunteers for their bard work and dedication, and we have reinstated the volunteer of the month award. Also, a huge thank you to Lynn for her positivity which keeps everyone highly motivated after 17 years. even Page 2
The Hone rose Foundation Re ort of the Trustees for the Year Ended 31 December 2023 FINANCIAL REVIEW Investment policy and objectlves The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of truslees which provide wrilten prinGiples on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for 5pe¢ulative purposes. Credit Risk The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity's credit risk is primarily attributabl8 to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. A allowance for impaimient is made where therè is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of Ihe cash flows. The credit risk on liquid funds and derivative financial instrurnents is limited because the counterparts are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterpart's and customers. Liquidity Risk In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, th8 charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. FUTURE PLANS St Helens town centre is still in a dire state until redevelopments begin. The donations of goods to our shop have not reduced, as our shop is our largest source of income. We now also sell online too, wish plans to increase this when possible. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governlng document, a deed of trust and constitutes an unincorporated charity. Recruitment and appointment of new trustees Recruitment of new trustees is open, and focused on creating a diverse and effective Board. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity numbor 110Q867 Principal address 2-4 Cottam Street St Helens Mer5eyside WA10 1SA Page 3
The Hone rose Foundation ort of the Trustees for the Year Ended 31 D cember 2023 Trustees B Duffy Mrs L Stevens Miss C Anders D Fiennes-Gregory L Hurst L Barrow Mrs A Worsley Independent Examiner Nathans Chartered Certified Accountants Trident Business Centre Amy Johnson Way Blackpoo Lancashir8 FY4 2RP Approved by order of the board of trustees on 6 February 2025 and signed on its behalf by: B Duffy - Trustee Page 4
Inde endent Examinerfs Re The Hone rose Foundation ort to the Trustees of Indèpendent examiner's report to the trustees of The Honeyrose Foundation I report to the charity trustees on my examination of the acGounts of The Honeyrose Foundation (the Trust) for the year ended 31 Dernber 2023. Responsibilities and basis of report As the charity trustees of the Trust YOU are responslble for the preparation of the accounts in accordance with the requirements of Ihe Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145{5){b) of the Act. Independent examiner's statement I have completed my examination. I confimi that no material matters have come to my attention in connection wllh the examination giving me cause to believe that in any material respect: accounting records were not kept in respect af the Trust as required by Section 130 of the the accounts do not accord with those records; or the accounts do not comply with the applicable requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement Ihat the accounts give a true and fair view which is not a matter considered as part of an independent examination. I 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. Joseph Nathan Bannister Nathans Chartered Certified Accountants Trident Business Centre Amy Johnson Way Blackpool Lancashire FY4 2RP 6 February 2025 Page 5
The Hone rose Foundation statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 Total Total funds funds Unrestricted Restrlcted fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 37,152 37,152 70,642 Other trading activities Other income 67,244 1,110 67,244 1,110 8S,357 15,290 Total 105,506 105,506 172,289 EXPENDITURE ON Raising funds 80,890 80.890 160,437 Other 3,843 3,843 34,546 Total 84,733 84,733 194,983 NET INCOMEI(EXPENDITUREI 20,773 20,773 {22,694) RECONCILIATION OF FUNDS Total funds brought forward (44,886) 24,108 (20,778) 1,916 TOTAL FUNDS CARRIED FORWARD (24,113) 24,108 (5) (20.778) The notes form part of these financial statements Page 6
The Hone rose Foundation Balance Sheet 31 December 2023 31.12.23 Total funds 31.12.22 Tclal funds Unrestricted Restricted fund fund Notes FIXED ASSETS Tangible assets 13,622 1.024 14,646 18,307 CURRENT ASSETS Cash at bank and in hand (5,477) 23,084 17,607 3,550 CREDITORS Amounts falling due within one year 16,994) (6,994} (11,09n NET GURRENT ASSETS {12,471) 23,084 10,613 (7,547) TOTAL ASSETS LESS CURRENT LIABILITIES 1,151 24,108 25,259 10,760 CREDITORS Amounls falling due after morè than one year (25,264) (25,264) (31,5381 NET ASSETS 124,1131 24.108 15) (20,778) FUNDS Unrestricted funds Restricted funds 10 (24,113) 24,108 (44,886) 24,108 TOTAL FUNDS (5) (20,778) The financial statements were approved by the Board of Trustees and authorised for issue on 6 February 2025 and were signed on its behalf by: B Duffy- TTUStee The notes form part of these financial statements Page 7
The Hone rose Foundation Notes to the Financial Statements the Year Ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102) '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} (effective 1 January 2019),, Financial Reporting Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measur8d reliably. Expenditure Liabilities are reGognised as expenditure as soon as there is 8 légal or constNctive obligation committing th6 charity to that expenditure, it is 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 costs ¢annot be directly attributed lo particular headings they have been allo¢ated to activities on a basis consistent with the use of resources. Raising funds These are costs incurred in attracting voluntary income, the managemènt of investments and those incurred in trading activities that raise funds. Governance costs These include the costs attributable to the charity's complianGe with conslitutional and statutory requirements, including audit, strategic management and trustee meetings and reimbursed expenses. Tangible fixed assets Depreciation is provided at thé followng annual rates in crder to write off each asset over its estimated useful life. Taxatlon The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charlty. Restrictions arise when specrfied by the donor or when funds are raised for particular restricted purposes. Further explanalion of the nature and purpose of each fund is included in the notes to the financial stalements. Page 8 contlnued...
The Hone rose Foundation Notes to the Financial Statements - conlinu for the Year Ended 31 December 2023 ACCOUNTING POLICIES - eontinued Hire purchase and leasing commltrnents Rentals paid under operating leases are charged to the Statemenl of Financial Activities on a straight line basis over the period of the lease. OTHER TRADING ACTIVITIES 31.12.23 31.12.22 Shop Income 67,244 86,357 RAISING FUNDS Raislng donations and legacles 31.12.23 31.12.22 Postage and stationery Fundraising costs Shop stock Vehicle costs Travel and transport Support costs 639 1,900 2,394 13,795 114 293 436 142 402 1,273 18,842 Investment management costs 31.12.23 31.12.22 Administrative expenses maintenan charges 769 2,975 350 769 3,325 Aggregate amounts 80,890 160,437 Page 9 continued...
The Hone rose Foundation Notes to the Financial Statements - continued for the Year Ended 31 December 2023 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 D?mber 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrèstricted Restricted fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 70,642 70,642 Other trading activities Other income 86,357 15,290 86.357 15,290 Total 172.289 172,289 EXPENDITURE ON Raising lunds 160,437 160,437 Other 34,546 34,546 Total 194,983 194,983 NET INCONIEIIEXPENDITURE) (22,6941 (22.694} RECONCILIATION OF FUNDS Total funds brought forward (22,192) 24,108 1,916 TOTAL FUNDS CARRIED FORWARD 144,886) 24,108 (20,778) Pa9e 10 continued...
The Hone rose Foundation Notes to the Financial Statements - continued for the Year Ended 31 December 2023 TANGIBLE FIXED ASSETS Fixturas and fittings Motor vehicles Totals COST At 1 January 2023 and 31 December 2023 70,030 12,424 82,454 DEPRECIATION At 1 January 2023 Charge for year 56,812 2,643 7,335 1,018 64.147 3,661 At 31 December 2023 59,455 8,353 67,808 NET BOOK VALUE At 31 Décember 2023 10,575 4,071 14.646 At 31 December 2022 13,218 5,089 18,307 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Bank loans and overdrafts {see note 9) Taxation and social security other Greditors 6,274 9,645 732 720 720 6,994 11,097 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.23 31.12.22 Bank loans {see note 9) 25,264 31,538 LOANS An analysis of the rnaturity of loans is given below.. 31.12.23 31.12.22 Amounts falling due within one year on demand: Bank loans 6,274 9,645 Amounts falling beeen one and Iwo years: Bank loans - 1-2 years 6.274 6,274 Amounts falling due between two and flve years: Bank loans - 2-5 yeais 18,990 18,822 Page11 continued...
The Hone rose Foundation Notes to the Financial Statements - c ntinued lor the Year Ended 31 December 2023 LOANS - contlnued 31.12.23 31.12.22 Amounts falling due in more than five years= Flepayable by instalments.. Bank loans more 5 yr by instal 6,442 10. MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At1.1.23 Unrestricted funds General fund (44,886) 20,773 (24,113) Restriated funds Restricted funds 24,108 24,108 TOTAL FUNDS 120,778) 20,773 (5) Net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund 105,506 (84,733) 20,773 TOTAL FUNDS 105,506 (84.7331 20,773 Comparatlves for movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestricted funds General fund (22,192) <22,694) (44.886) Restricted funds Restricted funds 24,108 24,108 TOTAL FUNDS 1,916 (22,694) (20,778) Page 12 continued...
The Hone ros8 Foundation Notes to the Financial Statements - continued for the Year Ended 31 December 2023 10. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in Ihe above are as follows.. Incoming Resources Movement resour8 expended in funds Unre5tri¢ted funds General fund 172,289 1194,983) (22,694) TOTAL FUNDS 172,289 1194,983) (22,694) A current ye£r 12 mcnths and prior year 12 months combined position is as follows: Nel movement in funds At 31.12.23 At 1.1.22 Unrestricted funds General fund (22,192) (1.921) (24,113) Restricted funds Restricted funds 24,108 24,108 TOTAL FUNDS 1,916 (1,921) {5) A current year 12 months and prior year 12 months combined net movement in funds, included in Ihe above are as follows: Incorning Resources Movement resources expended In funds Unrestricted funds General fund 277,795 {279,716) (1,921) TOTAL FUNDS 277,795 (279.716) (1.921 } Page 13 continued.,.
The Hone rose Foundatio Detailed Statement of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 INCOME AND ENDOWMENTS Donations and legacies Donations 37.152 70,642 Other trading activities Shop income 67.244 86.357 Other income Rental income Job Retention Scheme inGome No description 15,290 1,100 10 1.110 15,290 Total incoming rp$ourcgS 105,506 172,289 EXPENDITURE Raising donations and legacles Postage and stationery Fundraising costs Shop stock Vehicle costs Travel and transport 639 1,900 2,394 13,795 114 293 436 142 871 18,842 Other trading activities Business development 11,400 Investment management costs Administrative expenses Maintenan¢8 charges 769 2,975 350 769 3,325 Other Other operating leases Wishes Loss on sale of tangible fixed assets Interest payable 21,180 13.333 (1,456) 1,489 3,843 3,843 34,546 This page does not form part of the ststutory financial statements Page 15
The Hone ose Foundation Detailed Statem8nt of Financial Activities for the Year Ended 31 December 2023 31.12.23 31.12.22 Support costs Management Rates and water Insurance Light and heat Advertising Sundries Subscriptions 4,140 6.696 6,296 18,382 2,078 3,140 695 8,435 402 169 13,146 37,287 Finance Bank charges 1,042 Governance costs Accountancy 2nd legal fees Allocated support costs Fixtures and fittin9S Motor vehicles 450 61,993 2,643 1,018 720 83,244 3,305 1,272 66.104 88,541 Totsl resources expended 84,733 194,983 Net in¢omel(expenditure 20,773 {22,694) This page does not fom part of the statutory financial statements Page 16