OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Charity Registration No. 1116773

Company Registration No. 05822301 (England and Wales)

HALOW PROJECT

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

HALOW PROJECT

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J Stevens
Mr M Day
Ms S Hill
Mr M McArthur
Mr R Meins
Mr T Oliver
Mr C Evans
Secretary Mr R Meins
Non-statutory Director Mr G O'Connor Director of halow project services
Charity number 1116773
Company number 05822301
Registered office Carroll House
11 Quarry Street
Guildford
Surrey
United Kingdom
GU1 3UY
Auditor Azets Audit Services
Ashcombe Court
Woolsack Way
Godalming
Surrey
United Kingdom
GU7 1LQ

HALOW PROJECT

CONTENTS

Page
Trustees report 1 - 11
Independent auditor's report 12 - 14
Statement of financial activities 15 - 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 35

HALOW PROJECT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 1 to the financial statements and comply with the charity's memorandum and articles of association, 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 Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The principal activity of the charity in the year under review was to provide benefit to young people with learning disability in Surrey and the surrounds.

halow project is a registered charity dedicated to creating opportunities and supporting young people aged 16+ with a learning disability so that they are able to live independent, meaningful, fulfilled lives and become more involved in their local community.

The young people we work with want the opportunity to:

halow project provides access to social activities, community-based learning and work-like experiences funded through a mixed model of fees, fundraising and enterprise.

From April 2021 to March 2022, halow project supported 169 individuals across our services, with many young people using several services:

In total, halow project delivered 5,430 hours of social and learning activities over the year to 141 individuals and flexibly provided 32,165 hours of care to 50 individuals in their homes and/ or communities. Delivery across the organisation has increased.

HALOW PROJECT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

halow Project Business Priorities for 2021-22

Despite good results in 2020-21, especially with the impact of COVID-19 on charities, we maintained the belief that there are still many more young people with learning disabilities who could benefit from halow’s unique blend of services and support. The Trustees and Senior Leadership Team remained committed to grow halow’s reach and impact, and this has resulted in a restructure of the organisation. We have returned to one Director, but provided more resource into teams beneath the role - most notably more senior roles / increased experience in the roles of Head of Care Services, Head of Fundraising and Communications, and Finance Manager; and with further resourcing within departments to better meet the charity’s growing needs. We have also been supported through this change by a part time executive consultant, and a closer relationship between the Board of Trustees and those on the payroll.

In terms of growth, the focus was on organic and risk assessed growth. Our Building Futures programme has secured an expansion to Woking from September 2022. Only 7 miles away, the financial risk here is vastly reduced by an increased fee for each learner. We have also delivered more service in both the ‘A Reason To Get Up Programme’ and ‘Social Activities’, reflecting the growth on referrals and interest here.

Although halow have a great reputation in all services and with all stakeholders, our other main area of work has been focusing further on quality, and a clearer strand that runs through the organisation. At governance level this has led to the development of a Quality and Innovation subcommittee. This has board and other stakeholder representation and ensures all of our services are reviewed in detail at least annually; feeding back to the Board of Trustees. From the bottom up; we have increased the quality of training from point of entry, supported by a new dedicated training role; significantly increased monitoring visits and support in our Care services, and provided greater recognition to staff members with increased pay bandings, multiple employees of the month across teams, and quality and innovation commendations for stand-out pieces of work. What quality looks like at halow is far clearer.

Our Mission

To develop innovative and responsive services, led by a skilled, supported and committed workforce, to meet the needs of young people with a learning disability to live, learn, socialise and work in the community.

Our business objectives for 2021-22 were:

  1. Continue to deliver high quality, innovative, and person-centred services and to exceed expectations of the young people themselves, families, commissioners and the local community.

  2. Continue the implementation of our Exceptional Person-Centred Care (EPC) strategy, a root and branch approach to reposition our teams to deliver this.

  3. Ensure the smooth transition of staff into the expanded charity and further strengthen the values-based approach to recruitment, training and delivery.

  4. Launch a new pathway of the Building Futures programme, funded through local authority SEND route, rather than Adult Social Care resulting in 2 separate year A groups and 5 concurrent year groups overallsome of which will be based in the neighbouring town of Woking.

  5. To increase our fundraising and communications operations.

  6. To modernise our financial procedures and bring the department more in line with operational need.

  7. Continue to respond effectively to the Covid-19 pandemic.

  8. Investigate and introduce new central technology solutions to further aid efficiency and growth.

  9. Review and make appropriate changes at governance level- with a focus on appropriate subcommittees, external representation, and the make-up of the Board of Trustees.

  10. 2 -

HALOW PROJECT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Achievements and Performance

Each year this report is a chance to reflect on the many achievements that our young people and the company have achieved in that time. We are grateful to all those who have been a part of this organisation and we hope you will continue to join us in meeting the ongoing challenges of nurturing and enabling independence in young people with a learning disability in Surrey and surrounding districts. Feedback from young people and families on halow staff continues to be good, remarking on the positive relationships formed, the progress made towards their goals and the safety and happiness of young people accessing halow services.

The Trustees (Company Directors) are pleased to report progress in all areas identified in 2021-2022 and it is a credit to our teams that, despite the huge challenges to our operations as a result of the ongoing impact of COVID-19, we were able to deliver services for more young people than in previous years, have invested further in the quality of our services, have made real and sustainable change to further secure the charities priorities and future, and end the year in a healthy financial position.

Everyone at halow wishes to thank all our young people, families, staff, volunteers, commissioners, funders and supporters for your support for our work this year and we would particularly like to thank Surrey County Council for their engaging and committed approach in continuing to support us.

Our 2021-22 Plans and Achievements:

1. Continue to deliver high quality, innovative, and person-centred services and to exceed expectations of the young people themselves, families, commissioners and the local community.

Aim: To continue to raise the bar in all our services.

2021-22 Achievements

Our Services have all maintained their strong reputations with all stakeholders, which can be evidenced through our regular surveys, person centred reviews, and tracking of both compliments and complaints.

Our Building Futures, A Reason To Get Up and Social Activities services have all delivered an increased amount of service this year- a clear follow on from our departmental reviews, stakeholder connections, quality and innovation focus, and related recruitment.

ARTGU has delivered an extra ‘cook and grow’ session on Monday to compliment our existing delivery. Building Futures expanded to an extra year group in Sept 2021 and will again in Sept 2022 and be based in Woking. Social Activities is delivering a greater number and variety of sessions than ever before. In Supported Living and our outreach service the focus has been on further increase of quality, rather than growth, and we have opted not to expand in some areas for this reason.

Our plans for 2022-23 include:

HALOW PROJECT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

2. Continue the implementation of our Exceptional Person-Centred Care (EPC) strategy, a root and branch approach to reposition our teams to deliver this.

Aim: Provide a better structure both internally and at a governance level to allow our teams to implement our EPC aims for our service users.

2021-22 Achievements

We have further resourced our training, with a dedicated 2.5 days per week role; and a new fulltime role to focus on recruitment and volunteering. We secured funding for the development of these roles. They have delivered our first bespoke development days for frontline workers (covering numerous training needs), and have been a big success.

Our restructure has led to the more senior role of Head of Care Services, and a better resourced team of officebased roles, and senior buddies in houses. Early improvements in the time were already evident by the end of April 2022.

Our governance has increased across the charity - with managers visiting services more, and board members reviewing quality regularly.

Towards the end of the year a new recruitment campaign for supported living roles also started to bear fruit, which is a promising sign. The new fulltime communications role has had a clear impact on this too.

The on-call function has also been further improved - most notably with the increased care team filling more of the rota (reasonably), especially at the key time of weekends, thus providing better support to our service users.

Our plans for 2022-2023 include:

HALOW PROJECT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

3. Ensure the smooth transition of staff into the expanded charity and further strengthen the valuesbased approach to recruitment, training and delivery.

Aim: To ensure our recruitment is efficient in a challenging market, most notably in terms of not losing candidates. New staff should feel part of one inclusive and dynamic team whose main goal is to enhance the lives of young people with learning disabilities.

2021-2022 Achievements

Our plans for 2022-2023 include:

HALOW PROJECT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

4. Launch a new pathway of the Building Futures programme, funded through local authority SEND route, rather than Adult Social Care resulting in 2 separate year A groups and 5 concurrent year groups overall- some of which will be based in the neighbouring town of Woking.

Aim: To continue to work closely with Surrey County Council’s SEND (Special Educational Needs and Disabilities) team to introduce the planned new year group for September 2021, and September 2022; whilst supporting the drive for referrals internally.

2021-22 Achievements

Programme awarded ‘Highly Commended’ at national 2021 ‘Children And Young People Now Awards’.

Building Futures is mainly funded by local authority commissions but also relies on grants and awards from generous trust funders. We maintained an excellent working relationship with the SEND team through regular communication and briefings, and fundraising to the programme has also performed reasonably well despite the ongoing impact of COVID-19.

Our plans for 2022-23 include:

HALOW PROJECT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

5. To increase our fundraising and communications operations.

Aim: following a department review, increase operations recognising the need for change, and especially following the impact of COVID-19.

2021-22 Achievements

Our plans for 2022-2023

6. To modernise our financial procedures and bring the department more in line with operational need.

Aim: Enhance finance operations.

2021-22 Achievements

Our plans for 2022-2023

HALOW PROJECT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7. Continue to respond effectively to the COVID-19 pandemic.

Aim: To keep young people at the heart of the decisions we make whilst ensuring the ongoing health of the business and the welfare of staff.

2021-22 Achievements

Our plans for 2022-2023

With the pandemic now hopefully endemic, this will not form a separate aim going forward.

8. Investigate and introduce new central technology solutions to further aid efficiency and growth.

Aim: To continue to move forward digitally to enable more mobility, have better record keeping/reduced paperbased systems, improve efficiency, and reduce duplication of information generally.

2021-2022 Achievements

Our plans for 2022-2023 include:

9. Review and make appropriate changes at governance level- with a focus on appropriate subcommittees, external representation, and the make-up of the Board of Trustees.

Aim: To strengthen our governance in line with best practice to ensure that the organisation continues to be run in the best possible way; attracts new talent onto the Board; is more agile in its decision-making; and remains attractive to funders.

2021-2022 Achievements

Our plans for 2022-23 include:

HALOW PROJECT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Statement of compliance with Charity Commission guidance

The Trustees have paid due regard to guidance issued by the Charity Commission's guidance on public benefit and what activities they should undertake.

Use of volunteers

halow is supported by a small group of dedicated regular volunteers who enable more young people to take part in the daytime activity and learning programmes, and support halow at fundraising events. Volunteers are supported with training, complete DBS checks, and undertake weekly COVID-19 testing.

Fundraising standards

halow subscribes to the Fundraising Regulator’s Fundraising Promise. In addition to this, we are developing our own promise to supporters which includes the following:

Honesty, transparency and accountability are key values for us and we encourage and support all staff to uphold these values in the work they do. For our fundraising team this involves:

Our fundraising activities are undertaken by a dedicated team of in-house staff:

Their work is reviewed by the Director, who is also involved in fundraising activity, and by a fundraising specialist on our Board of Trustees.

We do not engage any other external agencies to fundraise or engage with donors on our behalf. Over the past year we received no complaints about our fundraising. We define a complaint as an expression of dissatisfaction from a supporter or funder. No complaint is ever disregarded, and all complaints are passed on to colleagues and managers and we seek always to learn from these and to use this learning to inform future fundraising practice.

As a charity that supports some of our community’s most vulnerable young people, we have strict guidelines with regard to soliciting funds from anyone who may be classed as vulnerable (through reduced mental capacity, poverty or ill health). Although many of our young people are keen to support our fundraising through sponsored events, attending our carol service or helping on the stand at a community fundraising event, we never ask our young people to make a donation to the charity either face to face or through a fundraising appeal. All staff and contractors are trained and supervised to ensure that when we are aware of a person’s vulnerability, it is not appropriate to solicit funds from them. Where a frail or elderly individual expresses interest in leaving a gift in their will, we always encourage them to speak to their family first to ensure that we do not influence their decision.

HALOW PROJECT

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Financial review

The financial accounts for the year to 31 March 2022 show a net deficit of £98,427 as shown on the Statement of Financial Activities on page 15.

The cash flow statement shows a decrease in cash and cash equivalents of £32,939 during the year.

Income overall decreased by 16% over the year. This was essentially a reflection of the inability to organise many of the face-to-face fundraising activities due to COVID-19. This included halow’s annual bike ride, events at Goodwood and the Ace car quiz all of which, circumstances permitting, will reappear as soon as is possible.

Reserves Policy

At the end of the year, total income funds held were £248,983 (2021: £347,410).

This sum includes restricted funds, which are subjected to specific conditions by donors as to how they may be used, at a total of £8,792 (2021: £1,411).

The unrestricted funds held at the end of the year were £240,191 (2021: £345,999) of which a total of £12,983 (2021: £42,829) was committed for expenditure within 2022/23.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months’ expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

Structure, governance and management

Governing document

The charity is a company limited by guarantee, incorporated on 19 May 2006 and registered as a charity. The company was established under a Memorandum of Association which defined the objects and powers of the charitable company and is governed under its Articles of Association.

The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr J Stevens

Mr M Day Ms S Hill Mr M McArthur Mr R Meins Mr T Oliver Mr C Evans

Recruitment and appointment of new trustees

Current Trustees are already familiar with the practical work of the charity. Prior to the appointment as a new Trustee, the candidate is met by individual Trustees and officers of the charity to ensure that he/she is fully aware of the requirements and the statutory duties of a Trustee, and to ensure that the person is suitable to hold such an appointment.

halow project has a Board that met every two months in 2021-22. It is responsible for the strategic direction and policy of the charity. At present the Board has 6 members from a variety of professional backgrounds relevant to the work of the charity. A number of sub-committees and a scheme of delegation is in place and day to day responsibility rests with the Directors (Chief Executive) and the senior leadership team.

No new trustees have permanently joined halow this year, but we expect new people to join in 20222023, as raised.

HALOW PROJECT TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUEO) FOR THE YEAR ENDED 31 MARCH 2022 Pay scales have been Sel for all 18¥els of staff thrwh benchmarkthig and reguk2r re¥ivw of the employment rn8rket. If ffinanaally knable. Pr￿)￿$S1Ort up a jcprekted pay scale is d￿ded aftar considering the 8¢hievernenls of indM¢Juals arbj teams during the year. h•low proie¢t 18 committed to payirrfj all staff at least the Real INiry Ivage. Trustees do ￿1 receive remuneratim fortheir 5eM(%s lo the tharity. Statsm•nt of Trnst•è responsibilities The Trustees, who are also the directors of hah7 Prc¥eca for the pury>ose of company law, are responsiblg for preparing the Trustees Report and the fina￿la1 statements in 3￿rdanCe wilh appluble law and United Kingdom Accounting Standards (Uniied Kin9th)m Ggn¢rtyA• Accounbng Piacts'c81. Company Law requires the Tnjslees Its prepare financ4al statements ￿ oach finanrial year whith gwe a true and fair wew of th• statè of #ff8irs ot the charity and of the Ir￿0M•n9 ￿$out¢85 and application of resourc8s. induding the income and expenfjiture. of Ihe tharitable company for Ihal yw. lrt preparing these finanaal statements. the Twsta8s are required to: . select SUlta￿e acc4Junting poloes and Ih¢n appty Ihem owws1￿.. - observe the molhods and w"nciFAes in the Charilies SORP: - mak8 judgements and eslimales that are rea$￿able and pwdenl: and p￿pa￿ Ihe financial statements on the goir¥J COnc￿n basis unless rt is inappropriate lo presume that Ihe charity wll continue in operaiion. The Trustees are responsible ts keeF%ng alequato acrounliNJ re&yds th disdose with ￿asOnable S￿raCY at any time the finanaal position of the chanty ana enable them lo ensure Ihat the financial 51alemenls comply wrth the Companies A(a 20(b. a￿ also resixjwble for safeguard¥)g the asse15 of the charity and her￿ for taking ￿8$ortable step$ the prevention and detec1￿￿ of fra￿1 and other irregularities. The Twstees arè responsitrAe for the maintenanlx and integfity of the chanty and financial infcwmalhjn induded on the ch8riVs website. Legi￿allon in the Unrted ￿"n￿J0M goming the wepawaiion and dissemination of financial $18lern*nts may dtffer from legi$￿tIon in olherjurisdictions. Dl8elosurn of Inforniatlon to audltor Eath of Ihe Trustees has confirrned thal there is no lnforrna￿Tr of they are aware which is ￿levant to the audit. b4Jl of which the auditcK is unaware. They have further confwmEd that they have tsken approwate steps to identsfy such relevant informalion lo estabk'sh that the audrtof 15 aware o15uch info￿ation. report was aFvroved by Ihe Board of Truste8S. Mr J Stsven• Dated.. 11

HALOW PROJECT

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HALOW PROJECT

Opinion

We have audited the financial statements of halow Project (the ‘charity’) for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

HALOW PROJECT

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HALOW PROJECT

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

HALOW PROJECT

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HALOW PROJECT

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Southey (Senior Statutory Auditor) for and on behalf of Azets Audit Services 8 December 2022 Chartered Accountants Statutory Auditor Ashcombe Court

Ashcombe Court Woolsack Way Godalming Surrey United Kingdom GU7 1LQ

HALOW PROJECT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Current financial year
Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
2
105,075
16,599
Charitable activities
Building Futures
3
332,912
33,256
Social Activities
3
22,985
1,700
A Reason To Get Up
3
37,133
5,500
Buddy Support Services
3
251,207
-
Supported Living
3
774,097
-
SCC Infection Control & Workforce Capacity
3
55,359
-
Fundraising activities
4
166,509
-
Total income
1,745,277
57,055
Expenditure on:
Raising funds
5
133,150
11,478
Charitable activities
Building Futures
6
484,573
30,096
A Reason To Get Up
6
136,532
6,000
Social Activities
6
88,199
2,100
Information and Awareness Raising
6
75,082
-
Buddy Support Services
6
269,910
-
Supported Living
6
663,639
-
Total charitable expenditure
1,717,935
38,196
Total resources expended
1,851,085
49,674
Net (expenditure)/income for the year/
Net movement in funds
(105,808)
7,381
Fund balances at 1 April 2021
345,999
1,411
Fund balances at 31 March 2022
240,191
8,792		 Total
2022
£
121,674
366,168
24,685
42,633
251,207
774,097
55,359
166,509
1,802,332
144,628
514,669
142,532
90,299
75,082
269,910
663,639
1,756,131
1,900,759
(98,427)
347,410
248,983		 Total
2021
£
123,068
309,512
1,450
32,578
111,903
768,470
23,287
188,111
1,558,379
130,151
461,366
118,921
103,185
101,189
103,711
551,193
1,439,565
1,569,716
(11,337)
358,747
347,410

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

HALOW PROJECT

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2022

Prior financial year

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
2
119,768
3,300
Charitable activities
Building Futures
3
309,512
-
Social Activities
3
1,450
-
A Reason To Get Up
3
32,578
-
Buddy Support Services
3
111,903
-
Supported Living
3
768,470
-
SCC Infection Control & Workforce Capacity
3
4,287
19,000
Fundraising activities
4
98,266
89,845
Total income
1,446,234
112,145
Expenditure on:
Raising funds
5
130,151
-
Charitable activities
Building Futures
6
364,386
96,980
A Reason To Get Up
6
111,421
7,500
Social Activities
6
101,035
2,150
Information and Awareness Raising
6
101,189
-
Buddy Support Services
6
103,711
-
Supported Living
6
551,193
-
Total charitable expenditure
1,332,935
106,630
Total resources expended
1,463,086
106,630
Net (outgoing)/incoming resources before transfers
(16,852)
5,515
Gross transfers between funds
4,104
(4,104)
Net (expenditure)/income for the year/
Net movement in funds
(12,748)
1,411
Fund balances at 1 April 2020
358,747
-
Fund balances at 31 March 2021
345,999
1,411		 Total
2021
£
123,068
309,512
1,450
32,578
111,903
768,470
23,287
188,111
1,558,379
130,151
461,366
118,921
103,185
101,189
103,711
551,193
1,439,565
1,569,716
(11,337)
-
(11,337)
358,747
347,410

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

HALOW PROJECT BALANCE SHEET AS AT31 MARCH 2022 2022 2021 Fixed ass•ts Tangible a55ets 12 26,679 26,617 CuTh•nt assèts Debtors Cash at bank atwj in hand 13 135.460 305.252 145.343 338,191 440.712 4B3.534 Cr¢ditord: amounts falllng du• within one year 14 1218.408) 1182,741} Nel current assets 222.304 320,793 Totsl ass•ts lu$ Current Imbilities 248.983 347.410 Incom• funds Restricted funds Unrestricted fijr 8,792 240.191 1.411 345,999 248.983 347,410 an ststem￿S were approved by the Twstees on..... ... ... Mr J Stevens Trustee Company Reg18trntk>n No. 05822301 17_

HALOW PROJECT

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
23
Investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
(11,403)		 £
(21,536)
(11,403)
(32,939)
338,191
305,252		 2021
£
(20,116)		 £
87,104
(20,116)
66,988
271,203
338,191

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

halow project is a private company limited by guarantee incorporated in England and Wales. The registered office is Carroll House, 11 Quarry Street, Guildford, Surrey, GU1 3UY, United Kingdom.

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 Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

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

1.2 Going concern

The charity has been impacted by the coronavirus pandemic during the year due to being forced to forgo many fundraising activities. However, despite this, the charity has remained in a surplus at the year end and therefore at the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

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 donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised 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 recognised on receipt. Other donations are recognised 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 recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Buddy Support Services and Supported Living income is included in the financial statements as it becomes receivable.

The charity receives government grants in respect of projects aimed at vulnerable young people. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.

In addition, the charity received Coronavirus Job Retention Scheme (CJRS) funding during the year which is recognised in the Statement of Financial Activities on an accruals basis.

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure is inclusive of VAT.

Costs of generating funds comprise the costs associated with attracting donations and legacies and the cost of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and service for its beneficiaries. It includes both costs that can be allocated directly to such services and those costs of an indirect nature necessary to support them.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Support costs are allocated between charitable activities on the basis of the proportion of staff working on each activity, with the exception of Information and Awareness Raising which is allocated on the basis that it represents 35% of the fundraising function.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. There is a minimum threshold of £250 for capitalising fixed assets.

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:

Fixtures and fittings 25% on cost

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 net income/(expenditure) for the year.

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 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.

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank 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 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 as payable within one year are not amortised.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Donations and legacies

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
75,552
16,599
Grants receivable
29,523
-
105,075
16,599		 Total
Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
92,151
43,998
3,300
29,523
75,770
-
121,674
119,768
3,300		 Total
2021
£
47,298
75,770
123,068

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Donations and legacies
Donations and gifts
Donations
Corporate donations
Gift aid
Other		 37,793
27,481
10,278
-
75,552		 -
16,599
-
-
16,599		 37,793
44,080
10,278
-
92,151		 19,347
20,097
4,296
258
43,998		 (Continued)
-
19,347
3,300
23,397
-
4,296
-
258
3,300
47,298		 (Continued)
-
19,347
3,300
23,397
-
4,296
-
258
3,300
47,298
47,298

2 Donations and legacies

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

3 Charitable activities

Income from charitable activities
Analysis by fund
Unrestricted funds
Restricted funds		 Building
Futures
2022
£
366,168
332,912
33,256
366,168		 Social
Activities
A Reason To
Get Up
2022
2022
£
£
24,685
42,633
22,985
37,133
1,700
5,500
24,685
42,633		 Buddy
Support
Services
2022
£
251,207
251,207
-
251,207		 Supported
Living
SCC Infection
Control &
Workforce
Capacity
2022
2022
£
£
774,097
55,359
774,097
55,359
-
-
774,097
55,359		 Total
2022
£
1,514,149
1,473,693
40,456
1,514,149		 Total
2021
£
1,247,200
1,228,200
19,000
1,247,200

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

3 Charitable activities

(Continued)

For the year ended 31 March 2021

Income from charitable activities
Analysis by fund
Unrestricted funds
Restricted funds		 Building
Futures
£
309,512
309,512
-
309,512		 Social
Activities
A Reason To
Get Up
£
£
1,450
32,578
1,450
32,578
-
-
1,450
32,578		 Buddy
Support
Services
£
111,903
111,903
-
111,903		 Supported
Living
SCC Infection
Control &
Workforce
Capacity
£
£
768,470
23,287
768,470
4,287
-
19,000
768,470
23,287		 Total
2021
£
1,247,200
1,228,200
19,000
1,247,200

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

4 Fundraising activities

Unrestricted Unrestricted Restricted Total
funds funds funds
2022 2021 2021 2021
£ £ £ £
Volunteer-led fundraising 91,489 85,949 - 85,949
Fundraising events 74,199 11,990 89,845 101,835
Trading 821 327 - 327
Fundraising activities 166,509 98,266 89,845 188,111
Raising funds
Unrestricted Restricted Total Unrestricted
funds funds funds
2022 2022 2022 2021
£ £ £ £
Fundraising costs
Fundraising activities 41,667 4,599 46,266 27,115
Fundraising events 3,105 - 3,105 1,065
Staff costs 26,612 6,879 33,491 38,480
Support costs 57,504 - 57,504 61,291
Fundraising costs 128,888 11,478 140,366 127,951
Trading costs
Trading 329 - 329 -
Support costs 3,933 - 3,933 2,200
Trading costs 4,262 - 4,262 2,200
133,150 11,478 144,628 130,151

5 Raising funds

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

6 Charitable activities

Staff costs
Direct costs
Share of support costs (see note 7)
Share of governance costs (see note 7)
Analysis by fund
Unrestricted funds
Restricted funds		 Building
Futures
A Reason To
Get Up
2022
2022
£
£
224,133
59,366
101,498
21,728
325,631
81,094
176,935
57,504
12,103
3,934
514,669
142,532
484,573
136,532
30,096
6,000
514,669
142,532		 Social
Activities
Information
and
Awareness
Raising
2022
2022
£
£
42,535
18,034
19,408
19,240
61,943
37,274
26,541
35,387
1,815
2,421
90,299
75,082
88,199
75,082
2,100
-
90,299
75,082		 Buddy
Support
Services
Supported
Living
2022
2022
£
£
213,684
592,476
18,418
14,454
232,102
606,930
35,387
53,079
2,421
3,630
269,910
663,639
269,910
663,639
-
-
269,910
663,639		 Total
2022
£
1,150,228
194,746
1,344,974
384,833
26,324
1,756,131
1,717,935
38,196
1,756,131		 Total
2021
£
903,885
110,779
1,014,664
410,177
14,724
1,439,565
1,332,935
106,630
1,439,565

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

6 Charitable activities

(Continued)

For the year ended 31 March 2021

Staff costs
Direct costs
Share of support costs (see note 7)
Share of governance costs (see note 7)
Analysis by fund
Unrestricted funds
Restricted funds		 Building
Futures
A Reason To
Get Up
£
£
212,484
52,579
58,410
7,735
270,894
60,314
183,872
56,576
6,600
2,031
461,366
118,921
364,386
111,421
96,980
7,500
461,366
118,921		 Social
Activities
Information
and
Awareness
Raising
£
£
41,914
20,720
2,664
16,978
44,578
37,698
56,576
61,291
2,031
2,200
103,185
101,189
101,035
101,189
2,150
-
103,185
101,189		 Buddy
Support
Services
Supported
Living
£
£
72,175
504,013
12,000
12,992
84,175
517,005
18,859
33,003
677
1,185
103,711
551,193
103,711
551,193
-
-
103,711
551,193		 Total
2021
£
903,885
110,779
1,014,664
410,177
14,724
1,439,565
1,332,935
106,630
1,439,565

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7
Support costs
Support
costs
Governance
costs
£
£
Staff costs
294,906
-
Depreciation
11,341
-
Operating lease charges
38,250
-
Premises costs
43,669
-
Computer costs
18,276
-
Printing, postage and
telephone
11,463
-
Staff welfare and
expenses
20,309
-
Sundry expenses
2,986
-
Bank charges
238
-
Bad debts
899
-
Accountancy fees
-
13,767
Legal and professional
-
11,548
HR consultancy
-
4,942
442,337
30,257
Analysed between
Fundraising
57,504
-
Trading
-
3,933
Charitable activities
384,833
26,324
442,337
30,257
8
Net movement in funds
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets
Operating lease charges		 2022Support costs Governance
costs
£
£
£
294,906
327,148
-
11,341
11,612
-
38,250
37,800
-
43,669
44,639
-
18,276
16,629
-
11,463
10,524
-
20,309
16,293
-
2,986
6,046
-
238
217
-
899
560
-
13,767
-
11,985
11,548
-
-
4,942
-
4,939
472,594
471,468
16,924
57,504
61,291
-
3,933
-
2,200
411,157
410,177
14,724
472,594
471,468
16,924
2022
£
11,341
38,250		 2021
£
327,148
11,612
37,800
44,639
16,629
10,524
16,293
6,046
217
560
11,985
-
4,939
488,392
61,291
2,200
424,901
488,392
2021
£
11,612
37,800

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

9 Auditor's remuneration

The analysis of auditor's remuneration is as follows:

Fees payable to the charity's auditor and associates:
Audit of the charity's annual accounts
Other services to the group
- the audit of the charity's subsidiaries
Total audit fees		 2022
£
10,500
3,267
13,767		 2021
£
10,500
-
11,985

10 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

11 Employees

Number of employees

The average monthly number of employees during the year was:

Administrative
Fundraising
Operational
Management
Employment costs
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was £60,000 or more
were:
£60,000 - £70,000		 2022
Number
7
2
72
1
82
2022
£
1,334,761
107,942
35,922
1,478,625
2022
Number
1		 2021
Number
10
2
59
1
72
2021
£
1,142,219
94,926
32,368
1,269,513
2021
Number
-

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

12 Tangible fixed assets

Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation and impairment
At 1 April 2021
Depreciation charged in the year
At 31 March 2022
Carrying amount
At 31 March 2022
At 31 March 2021
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
14
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
15
Trade creditors
Other creditors
Accruals		 Fixtures and fittings
£
79,931
11,403
91,334
53,314
11,341
64,655
26,679
26,617
2022
2021
£
£
28,650
42,355
-
3,457
106,810
99,531
135,460
145,343
2022
2021
£
£
26,249
21,367
67,966
32,878
10,189
14,112
100,207
83,855
13,797
10,529
218,408
162,741		 Fixtures and fittings
£
79,931
11,403
91,334
53,314
11,341
64,655
26,679
26,617
2022
2021
£
£
28,650
42,355
-
3,457
106,810
99,531
135,460
145,343
2022
2021
£
£
26,249
21,367
67,966
32,878
10,189
14,112
100,207
83,855
13,797
10,529
218,408
162,741
91,334
53,314
11,341
64,655
26,679
26,617
2021
£
42,355
3,457
99,531
145,343
2021
£
21,367
32,878
14,112
83,855
10,529
162,741

HALOW PROJECT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

15 Deferred income

2022 2021
£ £
Arising from Deferred income 67,966 32,878

Deferred income is included in the financial statements in relation to services invoiced in advance.

16 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £35,922 (2021 - £32,368).

17 Movement in Funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Current year

Current year
Movement in funds
Balance at 1 Incoming Resources Balance at 31
April 2021 resources expended March 2022
£ £ £ £
The Edward Gosling Foundation: IT 511 - - 511
Community Foundation for Surrey - 17,000 (11,879) 5,121
Hedley Foundation - 4,000 (4,000) -
Guildford Poyle Charity - 4,599 (4,599) -
The Coleman Charitable Trust - 1,000 (1,000) -
Percy Bilton Charity 400 - (400) -
Douglas Arter Foundation 500 - (500) -
AXA XL grant - 15,256 (15,256) -
No Fear Bridge - 10,000 (10,000) -
SCC Send - 4,000 (840) 3,160
Co-op Local Community Fundraising - 200 (200) -
YFM Private Equity - 1,000 (1,000) -
Total Restricted Funds 1,411 57,055 (49,674) 8,792

HALOW PROJECT

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

17 Movement in Funds

(Continued)

Edward Gosling Foundation

Funding was provided for the purchase of five laptops and reading mats.

Community Foundation for Surrey

Funds received to go towards the costs to expand and develop volunteering programmes.

Hedley Foundation

Funds received to provide introductory construction skills training and qualification for young people with learning disabilities.

Guildford Poyle Charity

Funds provided to facilitate remote services provided in lieu of face to face sessions.

The Coleman Charitable Trust

Funds provided to enhance remote support services.

Percy Bilton Charity

Funds provided for the purchase of musical instruments.

Douglas Arter Foundation

Funds provided for the purchase of specific ARGTU project items.

COVID-19 funding

Various grants were provided to support the charity during the pandemic, which included some core costs in respect of changing operations from face to face to remote and the purchase of specific equipment to enable remote services. All of this funding was spent in the year.

AXA XL grant

Funds received to be spent on running costs of the BFG project.

No Fear Bridge

Funds received to be spent on running costs of the BFG project.

YFM Private Equity

Funds received via a private equity donation, for the provision of ARTGU and Social Activities.

HALOW PROJECT

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

17 Movement in Funds

(Continued)

Prior year

Prior year
Movement in funds
Balance at 1 Incoming Resources **Transfers ** Balance at 31
April 2020 resources expended March 2021
£ £ £ £ £
The Edward Gosling Foundation: IT - 4,615 - (4,104) 511
Gardening for DISA - 1,000 (1,000) - -
W S Limited - 3,300 (3,300) - -
Guildford Poyle Charity - 5,000 (5,000) - -
The Coleman Charitable Trust - 2,500 (2,500) - -
Percy Bilton Charity - 400 - - 400
Douglas Arter Foundation - 500 - - 500
COVID-19 Funding - 94,380 (94,380) - -
Total Restricted Funds - 111,695 (106,180) (4,104) 1,411
18 Analysis of net assets between funds
Unrestricted Restricted
Total		 Unrestricted Restricted Total
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Fund balances at 31
March 2022 are
represented by:
Tangible assets 26,679 - 26,679 26,617 - 26,617
Current assets/(liabilities) 213,512 8,792 222,304 319,382 1,411 320,793
240,191 8,792 248,983 345,999 1,411 347,410

HALOW PROJECT

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

19 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2022
£
12,983
287
13,270		 2021
£
42,829
26,525
69,354

20 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2022 2021
£ £
Aggregate compensation 68,967 114,765

21 Company limited by guarantee

halow project is a company limited by guarantee and accordingly does not have any share capital. Each director has pledged to contribute £1 in the case the charitable company becomes insolvent.

22 Charges held

A charge is held by Property Investment Holdings Limited for the sum of £8,519 (and such other sums as may be deposited by the company from time to time pursuant to the terms of the said deed) the interest from time to time accrued and any sums from time to time deposited in respect of value added tax.

HALOW PROJECT

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

23 Cash generated from operations 2022 2021
£ £
Deficit for the year (98,427) (11,337)
Adjustments for:
Depreciation and impairment of tangible fixed assets 11,341 11,612
Movements in working capital:
Decrease in debtors 9,883 84
Increase in creditors 20,579 70,043
Increase in deferred income 35,088 16,702
Cash (absorbed by)/generated from operations (21,536) 87,104
24 Analysis of changes in net funds
The charity had no debt during the year.