Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 **Charity registration number 1145276 (England and Wales) Company registration number 07797470** ## **THE HOLIDAY HOMES TRUST** **(A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** D S Ranger R J Hurrion - Chairman I D Mackenzie M D Hebden R D Neville - Treasurer S O Kennedy **Charity number (England and Wales)** 1145276 **Company number** 07797470 **Registered office** C/o The Scout Association Gilwell Park Chingford London E4 7QW **Independent examiner** RMT Accountants & Business Advisors Ltd Gosforth Park Avenue Newcastle upon Tyne NE12 8EG **Bankers** Barclays Bank PLC Leicester Leicestershire LE87 2BB CAF Bank Ltd PO Box 289 West Malling Kent ME19 4TA Cambridge & Counties Bank Ltd 51 Newmarket Road Cambridge CB5 8EG Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 3| |Independent examiner's report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 16| Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ The trustees present their directors' report and accounts for the year ended 31 December 2024, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust'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). ## **Objectives and activities** ## _**Objectives and aims**_ The Scout Holiday Homes Trust was founded in 1969 by former Scouts to provide suitable self-catering holiday accommodation, in a welcoming family environment, for any family, or group, who has a member with special needs with their carers, single parent families and low-income families – in fact any family in which the quality of life is diminished by disability, infirmity or misfortune. On 28 December 2011 the activities, assets and liabilities of The Scout Holiday Homes Trust were transferred to The Holiday Homes Trust. The Trust currently provide ten holiday home caravans at ten locations around England and Wales, available for booking at weekly rates which are, on average, substantially less than the standard holiday park prices. At a board meeting held on 30 November 2024 the trustees reviewed the 2025 site fees, the likely caravan hire fees and concluded that there was a realistic possibility that the company would not trade at a profit and took the decision to close the company's operations at the end of the 2025 season. ## **Public benefit** The charity’s aims and achievements are set out within this report. The activities set out in this report have been undertaken to further the charity’s charitable purposes for the public benefit. The Trustees have complied with the duty under Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission and the trustees have paid due regard to this guidance in deciding what activities the charity should undertake. The attached graph visual shows the level to which the charity has been able to assist disadvantaged people. ## **Achievements and performance** _Significant activities and achievements against objectives_ - During the year the charity received £nil (2023: £nil) of restricted grants. - In addition, the charity received unrestricted donations/legacies totalling £3,400 (2023: £28,904). ## **Financial review** The Trust endeavours to maintain liquid funds in interest bearing accounts in order to maximise the interest earned on available funds. The level of reserves considered by the Trustees as being appropriate is £25,000. In addition, the Trust needs to ensure that funds are available to pay regular costs, mainly staffing costs, between holiday seasons. ## **Reserves policy** It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s 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 trust’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves is being monitored monthly throughout 2025 by the Trustees. - 1 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Major risks** The Trustees have identified the ownership of holiday caravans, the employment of staff, and the potential for any long-term or permanent staff health problems as being major risks to the Trust. The Trustees are managing the financial impact of the occurrence of those major risks by maintaining a reasonable level of insurance cover against them. It is possible that at sale of the caravans they will not produce the book value meaning a restricted fund loss, this would be met out of unrestricted reserves. ## **Plans for future periods** The 2024 results have seen a continued increase in costs, the charity's income from caravan hire net of vat has been consistent and hire income for the year was £108,192 (2023: £108,703). Bookings for 2025 are promising, however, the decision to cease trading at the end of the 2025 season has been made. ## **Structure, governance and management** ## _**Governing document**_ The company was registered under the terms of the Charities Act 2006 in October 2011. It is a private charitable company, limited by guarantee, incorporated on 5 October 2011. The governing instruments are the Memorandum and Articles of Association which were adopted in revised form on 28 December 2011. ## _**Directors and trustees**_ The trustees, who are also the directors for the purpose of company law, and who served during the year were: D S Ranger R J Hurrion - Chairman I D Mackenzie M D Hebden R D Neville - Treasurer S O Kennedy J A Gerety (Deceased 9 November 2024) R Panton (Resigned 1 January 2024) ## **Recruitment and appointment of trustees** Trustees are appointed by the National Executive Committee and are selected from volunteers available at the time of a vacancy in the Trustee body. Teams of volunteers are used to provide local management of the Trust’s caravans and chalets based at holiday parks around England and Wales. The Trust has links with The Scout Association and various local Scout charities in England and Wales. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. - 2 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 # **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_ ## **Statement of Trustees' responsibilities** The trustees, who are also the directors of The Holiday Homes Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees' report was approved by the Board of Trustees. R J Hurrion - Chairman ## **Chairman** 1 September 2025 - 3 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF THE HOLIDAY HOMES TRUST** I report to the trustees on my examination of the financial statements of The Holiday Homes Trust (the trust) for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the trustees of the trust (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. Having satisfied myself that the financial statements of the trust are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## **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 that in any material respect: - 1 accounting records were not kept in respect of the trust as required by section 386 of the Companies Act 2006. - 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 Companies Act 2006 other than any requirement that the financial statements 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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I report to the trustees on my examination of the financial statements of The Holiday Homes Trust (the trust) for the year ended 31 December 2024. I draw your attention to note 1.2 of this report in order to enable a proper understanding of the financial statements to be reached. (s.0 by: .............................. ## **Stephen Slater BA (Hons) FCA** ## **for and on behalf of RMT Accountants & Business Advisors Ltd Gosforth Park Avenue Newcastle upon Tyne NE12 8EG** 26/09/2025 Dated: ......................... - 4 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## **FOR THE YEAR ENDED 31 DECEMBER 2024** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
3,400
-
Charitable activities
**4**
108,192
-
Investments
**5**
3,077
-
Other income
**6**
-
-
**Total income**
114,669
-
**Expenditure on:**
Raising funds
**7**
-
100
Charitable activities
**8**
121,280
47,671
**Total expenditure**
121,280
47,771
**Net expenditure and**
**movement in funds**
(6,611)
(47,771)
**Reconciliation of funds:**
Fund balances at 1 January
2024
93,769
111,408
**Fund balances at 31**
**December 2024**
87,158
63,637|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
3,400
28,904
-
108,192
108,703
-
3,077
1,678
-
-
-
2,321
114,669
139,285
2,321
100
-
155
168,951
111,253
45,942
169,051
111,253
46,097
(54,382)
28,032
(43,776)
205,177
65,737
155,184
150,795
93,769
111,408|**Total**
**2023**
**£**
28,904
108,703
1,678
2,321
141,606
155
157,195
157,350
(15,744)
220,921
205,177| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. - 5 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET** ## _**AS AT 31 DECEMBER 2024**_ ||||**2024**||**2023**|| |---|---|---|---|---|---|---| ||**Notes**|**£**||**£**|**£**|**£**| |**Fixed assets**||||||| |Tangible assets|**14**|||101,991||149,662| |**Current assets**||||||| |Debtors|**15**|97,296|||99,712|| |Cash at bank and in hand||74,296|||102,499|| |||171,592|||202,211|| |**Creditors: amounts falling due within**|**17**|||||| |**one year**||(102,025)|||(121,437)|| |**Net current assets**||||69,567||80,774| |**Total assets less current liabilities**||||171,558||230,436| |**Creditors: amounts falling due after**||||||| |**more than one year**|**18**|||(20,763)||(25,259)| |**Net assets**||||150,795||205,177| |**The funds of the trust**||||||| |Restricted income funds|**21**|||63,637||111,408| |Unrestricted funds|**22**|||87,158||93,769| |||||150,795||205,177| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024. 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. The financial statements were approved by the trustees on 1 September 2025 R J Hurrion - Chairman ## **Chairman** Company registration number 07797470 (England and Wales) - 6 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1 Accounting policies** ## **Charity information** The Holiday Homes Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is C/o The Scout Association, Gilwell Park, Chingford, London, E4 7QW. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the trust's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 trust is a Public Benefit Entity as defined by FRS 102. The trust has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the trust. 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 board has taken the decision to cease trading at the end of the of 2025 season, therefore trading will cease within twelve months following the approval of these financial statements. The accounts have therefore not been prepared on a going concern basis. As the closure date could still be more than one full reporting period away, the effect of winding down activities and identifying closure related liabilities and the effect of the carrying value of assets is not affecting this reporting period. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds represent donations and grants received for specific purposes within the charitable objectives. ## **1.4 Incoming resources** Income is recognised when the trust 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 trust 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. All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Income received in advance of accommodation rental is deferred until the criteria for income recognition are met. Turnover is measured at the fair value of the consideration received and represents amounts receivable for services provided in the normal course of business, net of discounts, VAT and other sales related taxes. - 7 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **1 Accounting policies** ## **(Continued)** ## **1.5 Resources expended** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. ## **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. Tangible fixed assets are stated at cost less depreciation. The cost of minor additions or those below £500 are not capitalised. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Caravans 10% and 15% straight line for more recent purchase 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 trust 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 trust 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 trust's balance sheet when the trust 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. - 8 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **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 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the trust’s contractual obligations expire or are discharged or cancelled. ## **1.10 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 trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the trust’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 reviewed on an ongoing 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 and future periods where the revision affects both current and future periods. ## **Critical judgements** ## **Assessing indicators of impairment** In assessing whether there have been any indicators of impairment of assets, the trustees have considered both external and internal sources of information such as market conditions and experience of recoverability. - 9 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** - **2 Critical accounting estimates and judgements** ## **(Continued)** ## **Key sources of estimation uncertainty** ## **Determining residual values and useful economic lives of tangible fixed assets** The company depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes. Judgement is applied by trustees when determining the residual values for tangible fixed assets. When determining the residual value trustees aim to assess the amount that the company would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices. The carrying amount of tangible fixed assets at the reporting end date was £102,000 (2023: £157,000). It is likely that at the end of the 2025 season the sale proceeds of caravans will not meet their book value resulting in a restricted fund loss that will need to made up by a transfer from unrestricted funds. ## **3 Donations and legacies** |**Unrestricted Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
Donations and gifts
3,400
28,904
**4**
**Charitable activities**
**2024**
**2023**
**£**
**£**
Holiday accommodation - Rent receivable
108,192
108,703
**5**
**Investments**
**2024**
**2023**
**£**
**£**
Interest receivable
3,077
1,678|**Unrestricted Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
Donations and gifts
3,400
28,904
**4**
**Charitable activities**
**2024**
**2023**
**£**
**£**
Holiday accommodation - Rent receivable
108,192
108,703
**5**
**Investments**
**2024**
**2023**
**£**
**£**
Interest receivable
3,077
1,678|**Unrestricted Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
Donations and gifts
3,400
28,904
**4**
**Charitable activities**
**2024**
**2023**
**£**
**£**
Holiday accommodation - Rent receivable
108,192
108,703
**5**
**Investments**
**2024**
**2023**
**£**
**£**
Interest receivable
3,077
1,678| |---|---|---| |||**2023**
**£**
108,703| |||| |||| ||**2024**
**£**
3,077|**2023**
**£**
1,678| - 10 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **6 Other income** |||**Restricted**|**Restricted**| |---|---|---|---| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||Net gain on disposal of tangible fixed assets|-|2,321| |**7**|**Expenditure on raising funds**||| |||**Restricted**|**Restricted**| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||**Fundraising and publicity**||| ||Other fundraising costs|100|155| |**8**|**Expenditure on charitable activities**||| |||**Total**|**Total**| |||**2024**|**2023**| |||**£**|**£**| ||**Direct costs**||| ||Site fees|50,197|44,405| ||Site insurance|3,397|2,364| ||Rates and water|(149)|1,733| ||Site cleaning|11,401|12,205| ||Site repairs|13,577|12,479| ||Electricity and gas|6,395|6,490| ||TV licence|1,193|1,590| |||86,011|81,266| ||**Share of support and governance costs (see note 9)**||| ||Support|82,040|75,329| ||Governance|900|600| |||168,951|157,195| ||**Analysis by fund**||| ||Unrestricted funds|121,280|111,253| ||Restricted funds|47,671|45,942| |||168,951|157,195| - 11 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **9 Support costs allocated to activities** |Staff costs
Depreciation
Insurance
Sundry expenses
Office and committee expenses
Printing and publicity
Trustee expenses
Other staff costs
Loan interest
Governance
**Governance costs comprise:**
Independent examiner's fee|**Total**
**2024**
**£**
30,991
47,671
-
172
1,579
324
674
-
629
900
82,940
**2024**
**£**
900
900|**Total**
**2023**
**£**
29,261
42,797
56
95
1,044
1,016
890
72
98
600| |---|---|---| |||75,929| |||**2023**
**£**
600| |||600| All cost incurred have been in the pursuit of the objectives of the charity and thus all support costs have been allocated to charitable activities. The examiner's remuneration amounts to an Independent examiner's fee of £900 (2023: £600). |**10**|**Net movement in funds**|**2024**|**2023**| |---|---|---|---| |||**£**|**£**| ||The net movement in funds is stated after charging/(crediting):||| ||Depreciation of owned tangible fixed assets|47,671|42,797| ||Loss/(profit) on disposal of tangible fixed assets|-|(2,321)| ## **11 Trustees** None of the trustees (or any persons connected with them) received any remuneration during the year, but 3 of the trustees were reimbursed a total of £674 for travelling expenses (2023: 4 were reimbursed £890) due to the directors of the company. - 12 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **12 Employees** The average monthly number of employees during the year was: |Management and administration
**Employment costs**
Wages and salaries
Pension and other costs|**2024**
**Number**
2
**2024**
**£**
29,084
1,907
30,991|**2023**
**Number**
2| |---|---|---| |||**2023**
**£**
27,953
1,308| |||29,261| There were no employees whose annual remuneration was £60,000 or more. ## **13 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. ## **14 Tangible fixed assets** |**Cost**
At 1 January 2024
At 31 December 2024
**Depreciation and impairment**
At 1 January 2024
Depreciation charged in the year
At 31 December 2024
**Carrying amount**
At 31 December 2024
At 31 December 2023|**Caravans**
**£**
358,512| |---|---| ||358,512| ||208,850
47,671| ||256,521| ||101,991| ||149,662| - 13 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** |**15**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**16**
**Loans and overdrafts**
Bank loans
Payable within one year
Payable after one year
**17**
**Creditors: amounts falling due within one year**
**Notes**
Bank loans
**16**
Deferred income
**19**
Trade creditors
Other creditors
Accruals
**18**
**Creditors: amounts falling due after more than one year**
**Notes**
Bank loans
**16**
**19**
**Deferred income**
Arising from income received in advance|**2024**
**£**
31,215
7,673
58,408
97,296
**2024**
**£**
24,763
4,000
20,763
**2024**
**£**
4,000
43,352
53,023
750
900
102,025
**2024**
**£**
20,763
**2024**
**£**
43,352|**2023**
**£**
29,030
15,174
55,508| |---|---|---| |||99,712| |||**2023**
**£**
29,259| |||4,000
25,259| |||**2023**
**£**
4,000
46,027
54,788
848
15,774| |||121,437| |||**2023**
**£**
25,259| |||**2023**
**£**
46,027| - 14 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** |**19**
**Deferred income**
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 January 2024
Released from previous periods
Resources deferred in the year
Deferred income at 31 December 2024
**20**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**(Continued)**
**2024**
**2023**
**£**
**£**
43,352
46,027
46,027
48,008
(46,027)
(48,008)
43,352
46,027
43,352
46,027
**2024**
**2023**
**£**
**£**
1,907
1,308| |---|---| The trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the trust in an independently administered fund. ## **21 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. |**At 1**
Caravan purchase fund
**Previous year:**
**At 1**
Caravan purchase fund|**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
111,408
-
(47,771)
63,637
**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
155,184
2,321
(46,097)
111,408| |---|---| The purpose of the restricted funds are shown below: ## **Caravan purchase fund** This represents funds donated solely for the purchase of replacement caravans, which are used to generate rental income. - 15 - Docusign Envelope ID: FC8F9498-69DB-4A86-A3FB-1F360EB48E16 ## **THE HOLIDAY HOMES TRUST (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024** ## **22 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At 1**
General funds
**Previous year:**
**At 1**
General funds|**January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
93,769
114,669
(121,280)
87,158
**January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
65,737
139,285
(111,253)
93,769| |---|---| ## **23 Analysis of net assets between funds** ## **Current year** |**Unrestricted**
**funds**
**Restricted**
**funds**
**2024**
**2024**
**£**
**£**
Fund balances at 31 December 2024 are represented by:
Tangible assets
-
101,991
Current assets/(liabilities)
107,921
(38,354)
Long term liabilities
(20,763)
-
87,158
63,637|**Total**
**2024**
**£**
101,991
69,567
(20,763)
150,795| |---|---| ## **Prior financial year** |**Unrestricted**
**funds**
**Restricted**
**funds**
**2023**
**2023**
**£**
**£**
Fund balances at 31 December 2023 are represented by:
Tangible assets
-
149,662
Current assets/(liabilities)
119,028
(38,254)
Long term liabilities
(25,259)
-
93,769
111,408|**Total**
**2023**
**£**
149,662
80,774
(25,259)
205,177| |---|---| ## **24 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). - 16 -