Charity registration number 1114199
Company registration number 5624606 (England & Wales)
HOME-START SURREY HEATH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
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HOME START SURREY HEATH
Treasurer's Report Year Ending 31st March 2023
The succesful fund raising efforts and additional awards received in the last quarter of the year, ensured that although making a loss for the year, the loss was held at a manageable level, despite significant inflationary cost increases during the year.
Income for the year was £53,731 which was £4,000 better than budget. However, expenditure at £83,107 was also £9,600 higher than budget.
Reserves at the 31st March 2022 had been higher than expected. This was partly due to some awards intended to cover 2022/23 costs being received before the end of 2021/22.
Accordingly, and so as to not hold excessive reserves through the following year end, the trustees set a lower target for income for the year ending 31[st] March 2023 and the 2022/23 budget was set to make a loss of £23,724
The actual outcome was a loss of £29,376.
Grants continued to provide most of the income with the significant award from Surrey County Council, and other very welcome awards from The Community Foundation for Surrey, Home Start Surrey (St Faiths), Magdalen Hospital Trust and the Sir Jules Thorn Charitable Trust.
Significant donations were received from Mychett Ministries, The Camberley 41 Club and Pine Ridge Golf Club Ladies.
Fund raising and community activities continued to be an important source of income with a number of events organized during the year including Paint & Sip, Bingo, Music with Mummy etc.
The very high level of inflation through the year had a significant effect on expenditure during the year. This high level of inflation was not foreseeable when the budget for the year was set.
Salaries and earnings-related expenses accounted for more than 70% of overall expenditure.
Salaries were increased in July 2023 and backdated to the 1[st] April 2023, in accordance with agreed increases in NJC scale rates.
Reserves as at the 31[st] March 2023 were £68,907 compared with £98,283 at the start of the year. Reserves at the year end comprised of Unrestricted Reserves £44,924, Restricted Funds of £5,983 and the Staff Responsibility Fund of £18,000.
The high level of reserves at the beginning of the year proved to be problematic when making applications for funding for 2023/24 even though the reserves were already much lower at the time the applications were being made. Hopefully the problem will have resolved with the publication of the results for 2022/23.
For 2023/24 HSSH plans to continue with its mission to provide care and support to families and to help to give children the best possible start in life and is budgeting expenditure of £86,310.
The trustees are confident that the reserves as at the 31[st] March 23 are sufficient to enable operations to continue unchanged into 23/24 and a break even budget has been set for the year. This means that income of some £86,000 will need to be raised for the year.
A good start has been made in April 2023, the first month of the new year, but there is a huge challenge ahead for the staff, volunteers and trustees to raise the necessary funds.
Barry Clutton Treasurer Home-Start Surrey Heath
30/04/2023
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HOME-START SURREY HEATH
Statement of Financial Activities Year Ending 31st March 2023
| Note Income from Grants 3 Donations 3 Other 3 Total Income Expenditure on Charitable Activities 4 Total Expenditure Net Income/(Expenditure) for the Year Reconciliation of Funds Funds Balance Bought Forward Funds Balance Carried Forward |
Restricted Funds Total Funds Prior Year Total Funds General Designated £ £ £ £ £ 29,346 - 9,000 38,346 60,105 10,499 - - 10,499 12,436 4,886 - - 4,886 7,366 Unrestricted Funds |
|---|---|
| 44,731 - 9,000 53,731 79,907 51,836 - 31,271 83,107 76,444 |
|
| 51,836 - 31,271 83,107 76,444 |
|
| (7,105) - (22,271) -29,376 3,463 52,029 18,000 28,254 98,283 94,820 |
|
| 44,924 18,000 5,983 68,907 98,283 |
The statement of financial activities includes all gains an losses regognised in the year.
All income and expenditure is derived from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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HOME-START SURREY HEATH
Balance Sheet As at 31st March 2023
| Note Fixed Assets Tangible assets 10 Total Current Assets Debtors 5 Cash at bank and in hand Total Creditors Amounts falling due within one year 6 Accruals 6 Total Net Assets Funds Unrestricted Fund 7 Restricted Fund 7 Designated Fund 7 Total Funds |
31/03/2023 31/03/2022 £ £ 1,011 1,601 |
|---|---|
| 1,011 1,601 205 401 69,444 98,975 |
|
| 69,648 99,376 -696 -1,096 -1,056 -1,598 |
|
| -1,753 -2,694 |
|
| 68,907 98,283 |
|
| 44,924 52,029 5,983 28,254 18,000 18,000 |
|
| 68,907 98,283 |
The company is entitled to exemption from the audit requirement contained in section477 of the Companies Act 2006, for the year ended 31 March 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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 Trustes on the 22 May 2023 and signed on its behalf by:
Mike Allen
Chair
Barry Clutton ACMA CGMA Treasurer
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HOME-START SURREY HEATH
Notes to the Financial Statements Year Ending 31st March 2023
1 ACCOUNTING POLICIES
Charity information
Home-Start Surrey Heath is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 1, Stuart House, Plantation Row, Camberley, Surrey.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity’s governing document, the Companies Act 2006 and “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 Ireland (FRS 102) (effective 1 January 2019)”. The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are round to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by doners as to how they be used. The purposes and uses of the restricted funds are set
Endowment funds are subject to specific conditions by doners that the capital must be maintained by the charity.
- 1.4 Income
Income is recognized when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognized on receipt. Other donations are recognized once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognized at the time of the donation.
Legacies are recognized on receipt or otherwise if the charity has been notified of any impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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HOME-START SURREY HEATH
Notes to the Financial Statements Year Ending 31st March 2023
1.5 Expenditure
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified son as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation 9270 and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
20% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication vids exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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HOME-START SURREY HEATH
Notes to the Financial Statements Year Ending 31st March 2023
Basic financial assets
Basic financial assets, which include debtors and cash and ban balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial Liabilities
Basic financial liabilities, including creditors and bank loans are initial recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers.
Derecognition of financial liabilities
Financial liabilities are derecognized when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits 1.11 Retirement benefits Debtors 1.12
The cost of any unused holiday entitlement is recognized in the period in which the employee’s services are received.
Termination benefits are recognized immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Debtors are recognized at the amount due after any trade discount offered. Prepayments are valued at the amount prepaid after any discounts due.
1.13 Creditors
Creditors are recognized where the charity has a present obligation arising from a past event that is like to result in a transfer to a third party and the amount due can be measured or estimated reliably. Creditors are recognized after taking account of any discounts due.
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HOME-START SURREY HEATH
Notes to the Financial Statements (Continued) Year Ending 31st March 2023
- 2 Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviwed on an omgoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision where the revision affects both current and future periods.
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HOME-START SURREY HEATH
Notes to the Financial Statements (Continued) Year Ending 31st March 2023
| 3 ANALYSIS OF INCOMING RESOURCES GRANT INCOME Surrey County Council Home Start Surrey Community Foundation for Surrey Magdalen Hosspital Trust Sir Jules Thorn Charitable Trust Surrey heath Show National Lottery Henry Smith Charity BSIL Frimley Allotments PWT &SCJ DONATIONS AND GIFTS Mychett Ministries Camberley 41 Club Pine Ridge Ladies Surrey Heath Lottery Corporate SHBC Community Fund for Surrey Groundwork UK Park Road Surgery Other OTHER INCOME Fund Raising Activities Interest Receivable Other TOTAL INCOME |
Unresticted Restricted 2023 2022 Total Total £ £ £ £ 19,108 - 19,108 20,108 5,238 - 5,238 - 9,000 - 9,000 - 2,000 - 2,000 - 2,500 - 2,500 - 500 - 500 - - - - 10,000 - - - 10,000 - - - 5,000 - - - 10,000 - - - 4,997 |
|---|---|
| 38,346 - 38,346 60,105 |
|
| 5,000 - 5,000 - 2,310 - 2,310 - 2,000 - 2,000 - 446 - 446 500 458 - 458 - - - - 3,000 - - - 2,499 - - - 1,000 - - - 705 285 - 285 4,732 |
|
| 10,499 - 10,499 12,436 |
|
| 4,615 - 4,615 7,119 271 - 271 247 - 0 0 |
|
| 4,886 - 4,886 7,366 |
|
| 53,731 - 53,731 79,907 |
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HOME-START SURREY HEATH
Notes to the Financial Statements (Continued) Year Ending 31st March 2023
| 4 ANALYSIS OF RESOURCES EXPENDED CHARITABLE ACTIVITIES Staff Costs Depreciation and Impairment Volunteers Expenses Staff Expenses Premises Stationary Printing and Copying Telephone and Internet Promotion & Advertising HSUK Levy & Subscriptions Family Events TOTAL SUPPORT COSTS Volunteer Training Sundries and Consumables Legal & Insurance Professional Fees Staff Training IT & Computer Costs Total GOVERNANCE COSTS Independent Examination Total TOTAL EXPENDITURE |
Unrestricted Restricted 2023 2022 Total Total £ £ £ £ 36,326 23,139 59,465 54,849 590 - 590 591 374 203 576 365 355 893 1,247 2,390 6,053 1,720 7,773 7,472 2,121 - 2,121 1,095 1,297 - 1,297 1,246 117 - 117 120 1,489 - 1,489 1,114 1,915 2,062 3,978 2,229 |
|---|---|
| 50,638 28,016 78,653 71,471 |
|
| 103 - 103 1,202 -179 1,494 1,316 605 1,375 - 1,375 929 126 500 626 305 59 - 59 200 -950 1,261 311 556 |
|
| 533 3,255 3,789 3,797 |
|
| 665 - 665 1,176 |
|
| 665 - 665 1,176 |
|
| 51,836 31,271 83,107 76,444 |
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HOME-START SURREY HEATH
Notes to the Financial Statements (Continued) Year Ending 31st March 2023
| 5 DEBTORS & PREPAYMENTS Trade Debtors due within 1 year HMRC 6 CREDITORS & ACCRUALS Trade Creditors due within 1 year HMRC PAYE & NIC Accruals 7 MOVEMENT IN FUNDS Unrestricted Funds General Fund Total Designated Funds Staff Responsibility Total Restricted Funds Poverty Fund - Community Foundation for Surrey Family Support Project - Community Foundation for Surrey Family - Fund Frimley Fuel Allotments Database Update CIN Booster National Lottery Henry Smith Foundation SC Johnson BSIIL Community Foundation for Surrey PWT Total TOTAL FUNDS |
2023 2022 £ £ - - 205 401 205 401 2023 2022 £ £ 696 347 - 749 1,056 1,598 1,753 2,694 01/04/2022 Income Expenditure 01/04/2023 £ £ £ £ 52,029 44,731 51,836 44,924 |
2023 2022 £ £ - - 205 401 |
|---|---|---|
| 205 401 |
||
| 2023 2022 £ £ 696 347 - 749 1,056 1,598 |
||
| 1,753 2,694 |
||
| 52,029 44,731 51,836 44,924 |
||
| 18,000 18,000 |
||
| 18,000 - - 18,000 |
||
| - 5,000 568 4,432 - 4,000 4,000 - 1,365 - 625 740 500 - 500 - 1,261 - 1,261 - 10,000 - 10,000 - 10,000 - 10,000 - 1,622 - 811 811 1,837 - 1,837 - 1,669 - 1,669 - |
||
| 28,254 9,000 31,271 5,983 |
||
| 98,283 53,731 83,107 68,907 |
Staff Responsibility Fund. The trustees estimate that approximately £18,000 is required to cover the cost of staff redundancy should the need arise in the event of closure.
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HOME-START SURREY HEATH
Notes to the Financial Statements (Continued) Year Ending 31st March 2023
8 TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS
No trustees received any remuneration during the year.
Trustee expenses reimbursement was £270.10. ( 2022 - none)
No trustee had any personal interest in any contract or transaction entered into during the year
9 EMPLOYEES
| LOYEES Salaries Employer pension contributions Staff Life Assurance |
2023 2022 £ £ 55,492 51,364 3,896 3,485 76.50 - |
| 59,465 54,849 |
No employees received emoluments ( excluding employer pension costs) of more than £60,000 This employee's emoluments ( excluding pension costs) were in the band £70,000 to £80,000 There were on average 4 employees during the year. (2022 - 4)
The average number of employees, calculated on the basis of full time equivalents was 2 (2022 - 2 )
10 TANGIBLE FIXED ASSETS
| GIBLE FIXED ASSETS | ||
|---|---|---|
| Cost As at 1/4/22 Additions y/e 31/3/23 As at 31/3/23 Depreciation As at 1/4/22 Charge for 22/23 As at 31/3/23 Nett Value As at 1/4/22 As at 31/3/23 TORS Amounts falling due within one year: Other Debtor Prepayments and accrued income |
Computers £ 2,953 - 2,953 1,352 590 1,942 1,601 1,011 2023 2022 £ £ 205 - - 401 |
Computers £ 2,953 - |
| 2,953 | ||
| 1,352 590 |
||
| 1,942 | ||
| 1,601 | ||
| 1,011 | ||
| 205 401 |
11 DEBTORS
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HOME-START SURREY HEATH
Notes to the Financial Statements (Continued) Year Ending 31st March 2023
12 CREDITORS
| DITORS Amounts falling due within one year: Other Taxation and Social Security Other creditors Accruals |
2023 2022 £ £ - 749 696 347 1,056 1,598 |
| 1,753 2,694 |
13 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Funds Balances 31/3/23 Unresticted Restricted Designated |
Fixed Assets Current Assets Total Fixed Assets Current Assets Total £ £ £ £ £ £ 171 44,754 44,924 340 51689 52,029 840 5,142 5,983 1261 26993 28,254 - 18,000 18,000 - 18000 18,000 2022 2023 |
|---|---|
| 1,011 67,896 68,907 1601 96682 98,283 |
14 OPERATING LEASE COMMITMENTS
Operating lease commitments for future minimum lease payments under non cancellable operating leases are due as follows
| Within 1 year Between 2 and 5 years |
2023 2022 £ £ 1217 1230 3348 1948 |
|---|---|
| 4565 3178 |
15 RELATED PARTY TRANSACTIONS
There were no related party transactions dring the year ( 2022 - none)
15 CONTINGENT LIABILITY
The charity did participate in a multi-employer scheme which was a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore its accounts for the scheme as a defined contribution scheme.
The charity ceased contributions into the scheme in September 2013
Home Start Surrey Heath is not currently required to make any contribution to the funding deficit.
The potential debt based on information as at 30 September 2020 is disclosed as a contingent liability.
The estimate of the potential amount due on withdrawl from the pension scheme is £5,566.52
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