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2022-03-31-accounts

COMPANY REGISTRATION NUMBER: 05468592 CHARITY REGISTRATION NUMBER: 1110632

Home-Start Cotswold Ltd Company Limited by Guarantee Financial Statements

31 March 2022

McGILLS Chartered Accountants Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US

Home-Start Cotswold Ltd

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2022

Page
Trustees' annual report (incorporating the director's report) 1
Independent examiner's report to the trustees 3
Statement of financial activities (including income and
expenditure account) 4
Statement of financial position 5
Notes to the financial statements 6
The following pages do not form part of the financial statements
Detailed statement of financial activities 14
Notes to the detailed statement of financial activities 15

Home-Start Cotswold Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2022

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2022.

Reference and administrative details

Registered charity name Home-Start Cotswold Ltd
Charity registration number 1110632
Company registration number 05468592
Principal office and registered 203 Alexander Drive
office Cirencester
Gloucestershire
GL7 1UH
The trustees
Mr A R Jones
Ms E C Baker
Ms C N Ford
Mr S D Kaufmann
Mrs H C Morris
Mrs C M Partridge
Mr D A J Pointet (Appointed 23 June 2021)
Mr R G L Waller
Mrs F A Blacker (Resigned 11 March 2022)
Mrs C Hall
Independent examiner McGills
Oakley House
Tetbury Road
Cirencester
Gloucestershire
GL7 1US

Structure, governance and management

The details of the structure and organisation are included in the accompanying Annual Report.

Objectives and activities

Please see the Annual Report for the full objectives and activities of the charity.

Achievements and performance

Please see the Annual Report for the achievements and performance for the year ended 31st March 2022.

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Financial review

The accounts show a surplus of £27,948 compared to a surplus of £15,493 in 2021. More details of the financial position of the Charity is given in the Annual Report.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 23 June 2022 and signed on behalf of the board of trustees by:

Mr A R Jones Trustee

Mr S D Kaufmann Trustee

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Home-Start Cotswold Ltd

Year ended 31 March 2022

I report to the trustees on my examination of the financial statements of Home-Start Cotswold Ltd ('the charity') for the year ended 31 March 2022.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself 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, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements 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

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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.

McGills Independent Examiner Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US

30 June 2022

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2022

2022 2021
Unrestricted
fundsTotal funds Total funds
Note £ £ £
Income and endowments
Donations and legacies 5 138,552 138,552 105,956
Investment income 6 6 6 20
-------------------------------- -------------------------------- --------------------------------
Total income 138,558 138,558 105,976
================================ ================================ ================================
Expenditure
Expenditure on charitable activities 7,8 100,669 100,669 85,530
Other expenditure 9 9,941 9,941 4,953
-------------------------------- -------------------------------- --------------------------------
Total expenditure 110,610 110,610 90,483
================================ ================================ ================================
-------------------------------- -------------------------------- --------------------------------
Net income and net movement in funds 27,948 27,948 15,493
================================ ================================ ================================
Reconciliation of funds
Total funds brought forward 73,662 73,662 58,169
-------------------------------- -------------------------------- --------------------------------
Total funds carried forward 101,610 101,610 73,662
================================ ================================ ================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 6 to 12 form part of these financial statements.

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Statement of Financial Position

31 March 2022

2022 2021
Note £ £ £
Fixed assets
Tangible fixed assets 14 754 1,250
Current assets
Debtors 15 726 1,113
Cash at bank and in hand 104,421 72,656
-------------------------------- ----------------------------
105,147 73,769
Creditors: amounts falling due within one year 16 4,291 1,357
-------------------------------- ----------------------------
Net current assets 100,856 72,412
-------------------------------- ----------------------------
Total assets less current liabilities 101,610 73,662
-------------------------------- ----------------------------
Net assets 101,610 73,662
================================ ============================
Funds of the charity
Unrestricted funds 101,610 73,662
-------------------------------- ----------------------------
Total charity funds 18 101,610 73,662
================================ ============================

For the year ending 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 23 June 2022, and are signed on behalf of the board by:

Mr A R Jones Trustee

Mr S D Kaufmann Trustee

The notes on pages 6 to 12 form part of these financial statements.

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2022

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 203 Alexander Drive, Cirencester, Gloucestershire, GL7 1UH.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or

commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery - 33% reducing balance Equipment - 25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

3. Accounting policies (continued)

Defined contribution plans (continued)

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

The liability of the members is limited by guarantee.

5. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Donations
Trusts and funders 118,903 118,903 95,496 95,496
Donations 15,570 15,570 10,322 10,322
Fundraising events 1,254 1,254
Gift aid 75 75 138 138
Grants
Other revenue 2,750 2,750
-------------------------------- -------------------------------- -------------------------------- --------------------------------
138,552 138,552 105,956 105,956
================================ ================================ ================================ ================================
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Interest income 6 6 20 20
============== ============== ============== ==============
Expenditure on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Support costs 100,669 100,669 85,530 85,530
================================ ================================ ============================ ============================

6. Investment income

7. Expenditure on charitable activities by fund type

8. Expenditure on charitable activities by activity type

Support Total funds Total fund
costs 2022 2021
£ £ £
Governance costs 92,754 92,754 79,129
============================ ============================ ============================

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

9. Other expenditure

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Staff expenses 2,761 2,761 735 735
Volunteer expenses 1,601 1,601 1,097 1,097
Home start and other fees 5,275 5,275 1,620 1,620
Fundraising 17 17
General expenses 287 287 1,501 1,501
----------------------- ----------------------- ----------------------- -----------------------
9,941 9,941 4,953 4,953
======================= ======================= ======================= =======================
Net income
Net income is stated after charging/(crediting):
2022 2021
£ £
Depreciation of tangible fixed assets 496 568
============== ==============
Independent examination fees
2022 2021
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 500 400
============== ==============

10. Net income

11. Independent examination fees

12. Staff costs

The average head count of employees during the year was 7 (2021: 7). The average number of full-time equivalent employees during the year is analysed as follows:

2022 2021
No. No.
Number of staff 7 7
============== ==============

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

13. Trustee remuneration and expenses

No remuneration was received in the year by the trustees.

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

14. Tangible fixed assets

Plant and
machinery Equipment Total
£ £ £
Cost
At 1 April 2021 and 31 March 2022 891 1,475 2,366
============== ======================= =======================
Depreciation
At 1 April 2021 503 613 1,116
Charge for the year 128 368 496
-------------- ----------------------- -----------------------
At 31 March 2022 631 981 1,612
============== ======================= =======================
Carrying amount
At 31 March 2022 260 494 754
============== ======================= =======================
At 31 March 2021 388 862 1,250
============== ======================= =======================
Debtors
2022 2021
£ £
Prepayments and accrued income 726 1,113
============== =======================
Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 367 178
Accruals and deferred income 2,994 400
Social security and other taxes 358 281
Other creditors 572 498
----------------------- -----------------------
4,291 1,357
======================= =======================

15. Debtors

16. Creditors: amounts falling due within one year

17. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,724 (2021: £2,326).

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

18. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
At 31 March 20
1 April 2021 Income Expenditure 22
£ £ £ £
General funds 73,662 138,558 (110,610)
101,610
============================ ================================ ================================ ================================
At
At 31 March 20
1 April 2020 Income Expenditure 21
£ £ £ £
General funds 58,169 105,976 (90,483)
73,662
============================ ================================ ============================ ============================
Analysis of net assets between funds
Unrestricted Total Funds
Funds 2022
£ £
Tangible fixed assets 754 754
Current assets 105,147 105,147
Creditors less than 1 year (4,291)
(4,291)
-------------------------------- --------------------------------
Net assets 101,610 101,610
================================ ================================
Unrestricted Total Funds
Funds 2021
£ £
Tangible fixed assets 1,250 1,250
Current assets 73,769 73,769
Creditors less than 1 year (1,357)
(1,357)
---------------------------- ----------------------------
Net assets 73,662 73,662
============================ ============================

19. Analysis of net assets between funds

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Management Information

Year ended 31 March 2022

The following pages do not form part of the financial statements.

- 13 -

Home-Start Cotswold Ltd

Company Limited by Guarantee

Detailed Statement of Financial Activities

Year ended 31 March 2022

2022 2021
£ £
Income and endowments
Donations and legacies
Trusts and funders 118,903 95,496
Donations 15,570 10,322
Fundraising events 1,254
Gift aid 75 138
Other revenue 2,750
-------------------------------- --------------------------------
138,552 105,956
-------------------------------- --------------------------------
Investment income
Interest income 6 20
-------------- --------------
-------------------------------- --------------------------------
Total income 138,558 105,976
================================ ================================
Expenditure
Expenditure on charitable activities
Wages and salaries 83,922 74,763
Pension costs 2,724 2,326
Group work 2,477
Telephone and internet 816 540
Trust costs 1,110
Depreciation 496 568
Advertising and marketing 110 115
Insurance 1,099 817
Printing and stationery 472 9
Rent and rates 3,218 3,218
Training - staff and volunteers 256 465
IT equipment and software 1,812 1,002
Accountancy fees 2,157 1,707
-------------------------------- --------------------------------
100,669 85,530
-------------------------------- --------------------------------
Other expenditure
Staff expenses 2,761 735
Volunteer expenses 1,601 1,097
Home start and other fees 5,275 1,620
Fundraising 17
General expenses 287 1,501
----------------------- -----------------------
9,941 4,953
----------------------- -----------------------
-------------------------------- ----------------------------
Total expenditure 110,610 90,483
================================ ============================
-------------------------------- ----------------------------
Net income 27,948 15,493
================================ ============================

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Home-Start Cotswold Ltd

Company Limited by Guarantee

Notes to the Detailed Statement of Financial Activities

Year ended 31 March 2022

2022 2021
£ £
Expenditure on charitable activities
Governance costs
Wages and salaries 83,922 74,763
Pension costs 2,724 2,326
Group work 2,477
Telephone and internet 816 540
Trust costs 1,110
Depreciation 496 568
Advertising and marketing 110 115
Insurance 1,099 817
Printing and stationery 472 9
Rent and rates 3,218 3,218
Training - staff and volunteers 256 465
IT equipment and software 1,812 1,002
Accountancy fees 2,157 1,707
-------------------------------- ----------------------------
100,669 85,530
-------------------------------- ----------------------------
-------------------------------- ----------------------------
Expenditure on charitable activities 100,669 85,530
================================ ============================

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