REGISTERED COMPANY NUMBER: 08301552{England and Wales) REGISTERED CHARITY NUMBER: 1153287 (England and Wales) HOME-START HERTFORDSHIRE (A company Llmlted by Guarantee) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 HOME-START HERTFORDSHIRE Contents Page Lègal and Admlnlstrative Informatlon Report of tho Trustees (Includlng Dlr•ctors' Report) 3-10 Independent Examlner's Report 11 Statement of Flnanclal Actlvltles Ilncludlng Incomo and Expondlturo Account> 12 Statement of Flnanclal Posltlon 13 Notes to the Flnanclal Statemonts 1&25 HOME.START HERTFORDSHIRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees G Christey A Eamshaw- Treasurer (Appointed 5 July 2024) R Firth B Gould J Gregory - Chalr D Humble (Appointed 15 September 2023) S Morgan (Appointed 23 June 2023) R Taylor (Appointed 1 D8cember 2023) S Whittaker C Wilson P Hart (Resigned 6 October 2023} S Hawley (Appointed 15 September 2023 and resigned 26 April 2024) P Magee (Resigned 19 September 2023) A Watts (Resigned 8 June 2023) Chlef Ex•cutlvo Offlc•r S Moody Charlty Commlsslon Reglsteffjd Charlty Number 1153287 (England & Wales) Companlos Hou8• Registered Company Number 08301552 (England and Wales) Reglstered offlce 5 Bedwell Park, Stevenage, Herts. SG11 NB Accountant Beyond Profit, G104 8olton Arena, Arena Approach, Horwi¢h, Bolton, 8L6 6LB Ind•pend•nt Examln•r Neil C Harding, Bradshaw Johnson Chartered Accountsnts, Croft Chambers, 11 Bancroft. Hitchin, Herts, SG5 1JQ Bankers CAF Bank Ltd, 25 Klngs Hlll Avenue, Klngs Hill, West Malllng, Kent, ME19 4JQ Sollcftors DAS Law. DAS Parc, Greenway Court, Bedwas, Caerphilly. CF83 8DW HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES (Including Dlrectors, Report) FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006. present their report with the financial slatements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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 the Republic of Ireland {FRS 102) {effective 1 January 2019). The charity trustees have complied with 'duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their duties or powers,. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its goveming document. a deed of trust, and constitutes a limited company as defined by the Companies Act 2006. Structure Home-start Hertfordshlre was incorporated on 21 $1 November 2012 as 8 company limited by Guarantee not having Share Capital and was registered as a Charity with the Charities Commission on 7 August 2013. The charity is govemed by a Board of Trustees led by the Chairperson. The trustees must hold at least four meetings a year with at least one meeting being held in person. Every trustee has one vote on each issue. The Trustees all contrlbute their time voluntarily and have confimed that they have no interest that conflict with the Interests and activlties of the charity. The trustees. who are also the directors for the purpose of company law, and who senled during the year and up to the date of signature of the financial ststements were: G Christey A Earnshaw- Treasurer (Appolnted 5 July 2024) R Firth B Gould J Gregory - Chair D Humble (Appolnted 15 September 2023) S Morgan (Appointed 23 June 2023) R Taylor (Appointed 1 December 2023) S Whittaker C Wilson P Hart {Resigned 6 October 2023) S Hawley (Appointed 15 September 2023 and resigned 26 April 2024) P Magee {Resigned 19 September 2023) A Watts (Resigned 8 June 2023) R•crultment and appo5ntment of trusteos Trustees are elected by the Members or co-opted by the trustees. A twstee's initial term of office after election shall be for a period of four years (being the period between each annual general meeting rather than calendar years). A trustee may be elected for another temi of four years. totalling a maximum consecutive term of eight years. The Chair has the power to allow elected Trustees to stand for a third term in exceptional circumstances. The trustees may at any time co-opt an individual as a trustee to fill a vacancy in their number or as an additional trustee. but a co-opted trustee holds office only until the next AGM. HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES (Includlng Directors, Report) FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES Scheme ObJectlv8s Home-start Hertfordshire (HSH) operates on a simple yet profound belief-that every child deserves a safe and supportive slart in life. and every parent should have the guidance needed to make that possible. Home-start Hertford8hire covers the boroughs of Broxbourne, Dacorum, East Hertfordshire, North Hertfordshire (excluding Royston). Stevenage, St Albans and Walwyn Hatfield. Our objectives are., to safeguard, protect and preseNe the good health. both mental and physlcal of children and parents of children to prevent cruelty to or maltreatment of children to relieve sickness, poverty arKI need amongst children and parents of chlldren to promote the educatlon of the publlc In better standards of child-care within their respective areas, The Servlco The Home-start network conslsts of Home-stsrt UK and affilialed local Home-starts throughout the UK. Together they fomi the Hom6-Start Service, delivering one-to-one practlcal and emotional support to young famllles. Each Local Home-Start18 an independently regislered charity that supports families in a way that reflects the needs within th8 community they Serve. Home-start Hertfordshlre provides bespoke SUPPOrt to fami118s dealing wlth diverse challenges, such as isolation and loneliness, disability. abuse, and poor mental health, as well as the oVe￿heIMeng demands of parentlng. Our work is not just about immediate relief bLA empowering parents, building thelr confidence to create a stable and nurturing environment for their chlldren. The core of Home-start Hertfordshire's work lies in Its volunteer-led approach. Our volunteers are not just people from the community: they are the cornerstones of the charity, extensively trained to provide tallor-made support. They visit famlly homes weekly. for up to 6-9 months, offering not only practical assistance and advice but a listening ear and a shoulder to lean on - elements that are often as vital as any physical aid. Support to parents is free, confidential and non-judgemental. Famllies report a huge and positive Improvement In their lives and the lives of their families, because of the service. The stories of change are both heart-wrenching and heartwanning. Picture a young mother, overwhelmed and isolated, her p8rtner working long hours, her family miles avRy. When her Home-start volunteer steps through the door. it's not just help that arrives, but hope. There's also the tale of the single father, battling depression, who found in his volunteer not just a guide, but someone who gave him the belief that he could be a good dad. These are the everyday victorles of Home-start Hertfordshire. HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES (includlng Dlrectors, Report) contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERFORMANCE The Busln•ss Plan In November 2022. we launched our five-year strategic plan 'Moving Forward with Families,, where our vision is that 'every parent has access to the support they need to give their children the best start in life,. The first year of that plan focused on securing the foundations: Ensuring the governance of the charity is robust with new trustees joining our Board, who have added diversity and additional skills. We have assured ourselves that there are the appropriate systems. policies and procedures in place, enabling all staff to work safely, efficiently and effectively within their boundaries. Investment was required in order to deliver this plan resulting in a £124k increase in our cost base with the biggest contributions Ilsted below: £45k relates to in kind services provided to the charity with £40k of these seNices being allocated to fundraising costs. Accounting correction moving away from retrospective payment of NJC Alignment of both NJC and non NJC staff salaries to this financial year's NJC scales, which were unprecedented due to the cost-of-living crisis. Additional costs of grant writers to support complex grant applicatlons prfor to Ihe additional headcount recruitment to support both the offlce administration and events and fundraising team as both safeguarding and reportlng of more complex famlly situations and the need for ever mor8 resourcefulness in fundralslng added additional workload. Additional costs as we expand our family groups to support the demand for our serrfices and achieve our long-temi growth strategy. Outsourcing of our financ8 function to Beyond Profit. Going forward we will only see one NJC alignment, we are conducting a full review of the famlly group structure to ensure most effective use of funds and control of expenditure, whilst leveraging our newly formed Ambassador Group to support fundraising. We will also see the benefit of outsourcing the finance functlon following the departure of the finance manager as we move into the second year of this arrangement. Fundlng Despite the addltlonal investment in fundralslng in 23-24. the level of competition for grants has meant that the success we have had this year has been to maintain income levels rather than significantly grow them. but as this is a long tem fundraising strategy the investment that has been made this year will hopefully see returns in the next few years in order Ihat the charity can continue to meet the ever increasing demands being placed upon it and the ever increasing complex needs of the families that we are supporting. The driving factor here has clearly been the coSt￿f-11vIng crisis majorfy impacting on grant funding availability. Charity Excellence reported that following the 2023 Spring budgel, 860/0 of charities will be worse off, of which nearly a third (32 % ) face significant financial challenges and another third (34Q/o) have a serious cash flow problem or have. or may have, to consider reducing or closing senlices, making staff redundant. merging or closin9 their charity. HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES {Includlng Dlrectors. Report) contlnued FOR THE YEAR ENDED 31 MARCH 2024 As we felt the effects of the govemment belt tightening and general cost of living impact, we fully reviewed our revenue streams to focus on areas over which we had more control such as fundraising activlties, campaigns and events, with our annual gala dinner, pancake race and Big Give campaign all exceeding fundraising targets. We have created an income generation plan with a longer-term foGUS and continue to make applicatlon for multi-year grant funding and opportunities to work with corporates and donors over a longer period. This is vital to both secure the level of funding we require but also to ald our plannlng as the number of families that require our support, and the complexity of their needs has steadlly increased as the cost- of-living crlsis detrimenlally effects their lives. Home-start Hertfordshlre's Income 2023-24 CaTptyai• Fufvjlr The Famllles & Volunteers The key focus of our support to families remalns our volunteer-based home visiting sarvices, alongslde the communlty-based Family Groups. In October 2023, we launched a second Family Group in Stevenage, due to Identlfied demand In the area. and to ease the pressure from the original Stevenage group which was over-capacity. HSH now operates 9 Family Groups throughout the County. During the year, we supported 376 families, including 525 children under the age of 5. and ended the year with 84 volunteers. In addition to this as complexlty of needs has grown. time spent supporting each family ha8 lengthened, from an average of 6 to 8 months. Recruitment of volunteers has also been increasingly difflcult across the charity sector. again as a direct impact of the costryof-living crisis as, for example, their free time is taken up working additional hours or supporting their own children with childcare. However, despite the challenges w8 have continued to deliver a high quality and professional service to families SO Ihat they receive the support they need to help their children thrive. Our volunteers, guided by our dedicated staff. remain the core of the organisation providing invaluable support to parents and families, We also thank all our ambassadors, fundraisers, donors, corporate partners, Trustees and Patron for the support they give without which we would not achieve what we do. The leadership of the charity has developed with our Chief Executive Officer, creating a strong team around her, who are focussed on the future and delivering support to those who most need it. The Trustee Board has grown and become more diverse representing the community as well as enhancing the sklll sets of the Board. HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES {inGludlng Dlrectors, Report) contlnued FOR THE YEAR ENDED 31 MARCH 2024 Quality Assurance To ensure that we are well govemed, all Home-start charities undertake both a three yearly Quality Assurance Audit with Home Start UK and Trustees undertake an annual Quality Assurance Self-Assessment activity. This includes a rigorous examination of our documentstion, policies and procedures. as well as day to day running of the charity. The self- assessment activity was completed in 22123 and an action plan developed and completed. The charty has also set its risk appetite and maintains its own risk register which is reviewed regularly by Trustees at Board meetings. Looklng to th• Future As we look to the future, our 2024125 Business Plan focusses on consolidating our work achieved in year 1 and building on this. Key to this will be our Corporate Ambassadors Group which will help us dlv8rsify our income sources and develop this area of funding. The impact of Hom8-Stsrt Hertford8hire stretches beyond the irnmedlate famSly to the broader communty. It fosters an environment of mutual support and collective growth, ensuring children grow up in communities that care, and where parents have the network, they need to thrive, not just survive. However, like many charities, HSH faces its own challenges. Family's needs have been exacerbated by ongoing Socioeconomlc issues, resulting in an increase in families In crisis. Funding and resources cannot keep up wlth the demand and with the current financial instability the usual sources of funding are no longer available, leaving the charity relying heavily on donations, corporate support and community goodwill to sustain its essential services. Whilst it has been a tough year, the actlons taken this year have been about securing a posltlve future for the charity, recognising Ihe value of our staff and putting Into place the extra investment required to rnOV8 the charity foDhiards to grow our income stream in order to meet the growing demands for the servlces offered. Supporting Hertfordshire is more than charity; it is an investment in the future of the community and its families. To donate vlsit www.home-startherts.or .uk. FINANCIAL REVIEW Treasurors Report The financial yaar 2023124 was our eighth year as a fully operating organisation, supportlng families in the boroughs of Broxbourne, Dacorum, East Hertfordshire. North Hertfordshire (excluding Royston), Stevenage, St Albans and Welwyn Haffield. 202312024 was a difficult year as the cost•of-living crisis Impacted the charity. Throughout the year our fundraising activities outperfomied our expectatlons with record levels of funding raised. However, in the last quarter. the national picture of lack of grant availability and grants being wlthdrawn mid process severely impacted the charitles income. We secured income of £419,249 (which includes donated gifts and services of £52,104) and had lo heavily draw on our reserves at this late stage. The Charity implemented short lenn measures to address this as well as a 202412025 Business Plan which sets out how the Charty will recover its position and reseries. We also reviewed the approach to income generation. implemenled robust cost control measures and our financial oversight processes to ensure the delivery of the plan. My personal thanks, along with the board. goes to all staff. volunteers, trustees and board members for all your support and help in achieving what we have. HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES (Includlng Directors. Report) contlnued FOR THE YEAR ENDED 31 MARCH 2024 We are now consolidating following a period of gr0￿h at Home-start Herts and delivering the 2024125 business plan combining both the actual income and expenditure, our final position for 202312024 was a deficit of £81,630. Fonanclal Summary 2023-24 2022-23 Income £419,249 £351,573 Expenditure £500,879 £376,779 The charlty Is hugely grateful to the companies, funders and donors who contlnue to support us through thelr donations and fundfaislng. An extensive list of supporters can be found in the 202&2024 impact report, and we would especially like to thank the following: The many indlvidual donors and especially those who hava signed up to regular monthly glvlng. We appreciate the support from local community groups such as Rotary clubs, Inner Wheel, Round Tables, Soroptlmists, Freemasons, and churches including Berkhamsted Sunnyside Church, St. Albans Cathedral and St Ma￿5 Welwyn. Our supporters who have undertaken fundrdising challenges, tho88 who have sponsored them. all those who pledged and donated to our Big Glve Christmas match funded campaign and other appeals during the year. We were also a beneficiary of the county-wide Helplng Herts Campaign which Included a matched funded sponsorad walk last year. Our grant funders, the local and county counclls and indNidual county counclllors who have supported us with grants and donations, enabling us to continue and expand the work we do. All who took part in our fundraising events and the companies who provided sponsorship to enable them to be successful, especialty St. Micha81's Manor Hotel for providing the venue for our annual fundraiser free of charge, and those who sponsored the annual St Albans Pancak8 Festlval. Corporate relations is an area that we have continued to build, and whilst companles In the Herts area have themselves faced increased costs resultlng in reduced financial donations to prior years, the charity has been able to secure continued support from companies who hava generously donated their services and expertise in kind. These companies Includ8 No Nonsense Design, Heart Hertfordshire and St Michael's Manor Hotel - and the support of our patron Ken Follett and The Follett Trust. Resorvos pollcy At the end of the financial year. the charity held £128.188 in reserves (2023: £209,818) of whlch £111.540 were unrestricted resenies (2023., £190,295). The trustees have set a reserves policy which requires: a) resenies are maintained at a level which ensures that Home-start Herts core activity Gould continue during a period of unforeseen difficulty. b) a proportion of reserves are maintained in a readily realisable fomi. HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES (Includlng Dlrectors, Report) contlnued FOR THE YEAR ENDED 31 MARCH 2024 The calculation of the required level of reserves is an Integral part of the schemes planning. budget and forecast cycle and takes into account.. Risks associate with each stream of income and expenditure being different from that budgeted Planned activity level Organisats'on's commitments. Having considered the risk, activity and commitments of the organisation, trustees have agreed that the scheme needs to retain a level of reserrfes bet¥veen 3- and 6-months running costs. plus redundancy and unspent restricted funds. If reserves are consisteniiy above 6 months running costs, the trustees wlll discuss how the excess could be spent In line with the charity's aims. The free reserves of the charity at the end of the year have been calculated lo cover 2 monlhs of running costs plus redundancy (based on the budg8ted expenditure for 24-25). To cover 3 months of running costs plus redundancy, the charity has calculated It wlll need to hold £162,065 in unrestricted reserves. HOME.START HERTFORDSHIRE REPORT OF THE TRUSTEES (Includlng Dlrector8' Report) contlnued FOR THE YEAR ENDED 31 MARCH 2024 Trustees, Responslbllltleg in Relatlon to the Flnanclal Statements The trustses (who are also the dir6Ctors of Home-start Hert10rdshi￿ for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accountlng Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires tha trustees to prepare the financial statements for each financi81 year which give a true and fair view of the state of affairs of the charltable company and of the Incoming resources and application of resources, Including the income and expenditure. of th8 charitable company for that period. In preparing these finanGlal statements, th8 trustees are required to select suitabl8 8ccounting pollcies and then apply them consistently; observe the methods and principl8s of Charlty SORP 2019 (FRS 102)., make judgements and estimates that are reasonable and prudent: stste whether applicable UK accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concem basis unless it is Inapproprlate to presume that the charitable company wlll continue in business. The trustees are responsible for keeping proper account5ng records whlch disclose wilh rea80nable accuracy at any time the fin8nclal position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Gharitable company and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities. In addition, the Trustees have taken advantage of the small companies, exemptions provided by section 41 SA of the Companies Act 2006. This Annual Report was approved by the Board of Trustees on ...... and slgned on their behalf by". Julia regory - Chair 10 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HOME-START HERTFORDSHIRE Independent examiner's report to the trustees of Home-start Hertfordshire {'the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. R•sponslbllltles and basls of report As the charity's trustees of the Company (and also its directors for the purpose of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companias Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not requlred to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act.). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examlner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examinatlon. I confirm that no matters have come to my attention In connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records., or 3. the accounts do not comply with the accountlng r8quir8ments of Section 396 of the 2006 Act other than any requirement that the accounts glve a true and fair view which Is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance wlth the melhods and principles of the Statement of Recommended Practice for accountlng and reporting by charftles (applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland {FRS102)). I have no concerns and have come across no other matters in conneclion with Ihe examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be ￿aChed. Neil C Harding Bradshaw Johnson Chartered Accountants Croft Chambers 11 Bancroft Hitchin Hertfordshire SG5 1JQ HOME-START HERTFORDSHIRE STATEMENT OF FINANCIAL ACTIVITIES (Includlng Income and Ex￿ndIture Account) FOR THE YEAR ENDED 31 MARCH 2024 Unrgstrlcted Rgstrictsd TOTAL Unr8Stri¢ted Restrictod TOTAL 2023 2023 2023 Restated Restated Restated Note 2024 2024 2024 INCOME FROM.. Donations and legacies Other trading adivrties Investment8 238,380 34,290 2,306 151 144,142 382,502 34,290 2,306 196,784 34,868 371 117,364 314,148 34.868 371 Other incor 2,186 2.188 TOTAL INCOME 276,107 144,142 419,249 234,209 117,364 351,573 expENDITURE ON: Raising funds Charitable activitia$ 106,176 106,175 247,687 147,017 394,704 41,073 41,073 200,938 134,768 335,706 242,011 134,768 376,779 TOTAL EXPENDITURE 363,862 147,017 500,879 NET (EXPENDITUREVINCOME (78,755) (2,8761 181,6301 (7,802) (17,404) (25,208) Transfer between lund8 NET MOVEMENT IN FUNDS 15 (78,755) 12,875) 181,630 {7,802} {17,404) (25.206} Fund balan￿5 brought lo￿ard 190,293 19,523 209,818 198,097 36,927 235.024 TOTAL FUNDS CARRIED FORWARD 111,540 16,648 128,188 190,295 19.523 209,818 The statement of financlal actlvltle8 includes 811 galns and losses recognlsed during Ihe year. All income and expendilure derive from contlnuing activities. The statement of financial aclNities also complies with the requirements for an income and expenditure account under Ihe Companies Act 2006. The notes on pages 14 to 25 fomi part of the financial statements 12 HOME-START HERTFORDSHIRE STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2024 Company number: 08301552 Notes 2024 2023 FIXED ASSETS Tangible assets 2.603 CURRENT ASSETS Debtors Cash at bank and in hand 12 3,828 152,848 3,100 261,799 156,676 264,899 CREDITORS . arrt+unts falling due within one year 13 128,488 (57,684> NET CURRENT ASSETS 128.188 207,215 NET ASSETS FUNDS Unrestricted Restricted 128,188 209,818 15 15 111,540 16,648 128,188 190,295 19.523 TOTAL FUNDS 209.818 The company was entitled to exernption from audit under s477 of the Companies Act 2006 relating to small companies but as this company is a charity, it is subject to independent examination under the Charities Act 2011. The members have not required the company to obtsin an audSt in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibillties lor complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared In accordance wlth the provisions applicable to small companies subject to the small companies regime and in accordance with SORP FRS102. The financial statemenls were approved and authorlsed for Issue by the Board on and signed on Its behalf by: J M Gregory Chair The notes on pages 14 to 25 fom part of the financial statements 13 HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the finanGial statements are as follows: Basls of preparlng flnanclal stat•m•nts The financial statements have b&en prepared in accordance with 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 (SORP FRS102) (effective 1 January 2019). the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). Ihe Charitie8 Act 2011 and the Companies Act 2006. The charfty constitutes a public benefit entity as defined by FRS 102. The financial statements are prep8r8d in sterting. which is the functional currency of the charity. Monetary amounts Sn these financial statements are rounded lo the nearest £. A88et8 and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the ￿levant accounting policy note. b. Pr•paratlon of th• accounts on a golng conG•rn bas18 The trustees consider that there are no material uncertalntles about the charltable company's ability to conts'nue as a golng concem. The trustees have made no key Judgments which have a significant effect on the accounts. The trustees do not consider thal there are any sources of estimatlon uncertainty at the reporting dale that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the nexl reporting period. c. Income recognttlon Income is recognised when the charlty has entltlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can b8 measured reliably. Cash donations are recognised on receipt. Other donations are recognised once Ihe charity has been notified of the donation, unless perforniance 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. Income eamed from fundraising events and Irading actsvilies to raise funds for the charlty are recognised when entitlement has occurred. In￿rne from government and other grants. whether 'capital' granls or 'revenue' grants, is recognised when the charity has enlillement to the funds. any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 14 HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (contlnu•d) FOR THE YEAR ENDED 31 MARCH 2024 d. Donated glfts and services Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102). general volunteer time is not recognised. On receipt, donated professional seNiGes and donated facilities are recognised on the basis of Ihe value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. a corresponding amount is then recognised in expenditure in the period of receipt. •. Int•r•st rocelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is nomially upon notification of the interest paid or payable by the Bank. f. Fund accountlng Unrestricted fvnds 8re avallable to spend on activities that further any of th8 purposes of charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. g. Exp•ndlture Expenditure Is recognised once there is a legal or constructive obligation to make a payment to a third party, It is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure 18 accounted for on an accruals basis and has been classified as the aggregate of all costs related to a category under the following headings: Costs of raising funds includes the Costs in relation to fundraising events, seeking and following up voluntary contributions and donations from supporters and grant writing consultants. Expenditure on charitable activities includes the costs undertaken to further the purposes of the charity and their associated support costs. - Other expenditu￿ represents those items not falling inlo any other heading. Where necessary. the comparatlve figures have been reanalysed to different headings within the accounts in order to increase transparency and to enable the user to have a greater understanding of the activities and operations of the charity. Irrecoverable VAT Is charged as an expense against the activity for which expenditure arose. h. Allocation of support costs Support costs are those functions that assist Ihe work of the charity but do not directly relate lo either cost of raising funds or charitable activities. These costs are all allocated to charitable activities. 15 HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 l. Tanglbl• flxed ass•ts Individual fixed assets costing £1.000 or more are caprtali8ed at cost and ar8 depreclaled over their estimated useful economic lives on a straight-line basis as follows: Compuler equlpment 330/0 Stralght-line basis J. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. k. Cash at bank and In hand Cash at bank and cash in hand Includes cash and short term highly liquid Investmenls wlth a short maturlty of three months or less from the dale of acquisition or opening of the dep08it or slmilar account. l. Crodltors and provlslons Creditors and provisions are recognlsed whore th8 charlty has a present obllgation resulting from a past event that wlll probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured or estimated reliably. Credltors and provisions are normally recognised at their settlement amount after allowing for any trad8 discounts due. m. Flnanclal Instruments The charlty only has financial assets and flnanclal Ilabilitles of a klnd that quallfy as basic financial instruments. Basic financial instruments are initially recognlsed at transaction value and subsequently measured at their settlement value with the exception of bank loans which are 8ubsequ8ntly measured at amortised cost using the effective Interest method. P•n8lons Employees of the charty are entitled to join a defined conlribution 'money purchase, scheme. The charty's contribution is restricted to the contributions disclosed in note 9. Corporatlon Tax The charity is exempt from tax on income and galns falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Acl 1992 lo the extent that these are applied to its charitable objects. No tax charges have arisen in the charlty. p. Legal status of the charltablo company Home-start Hertfordshire is a charltable company Incorporated in England. The registered office is S Bedwell Park, Slevenage, Hertfordshire, SGI 1 N8. The members of the charitable company are the Twstees named on page 2. In the event of the charitable company being wound up, each trustee has undertaken to contribute to the assets of the charitable company such amounts as required, but nol exceeding £1, This guarantee extends until one year after a trustee ceases to be a member. The trustees control the charitable company. 16 HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES Unrostrlctod R•strlcted TOTAL Unrestricted Restricted TOTAL 2023 2023 2023 Restated Restated Restated 2024 2024 2024 Donats'ons Donated gifts and servlces Fundraising activltles and carrpaigns Grants Statutory funding Corporate funding 43,244 62,104 43,244 52,104 20,990 6.670 350 21.340 6,670 58,871 68,871 31,995 31,995 38,051 108,778 146,829 35,364 36,364 46,090 49,666 1.159 86,304 73,484 43,550 123,130 44,709 86.304 46,090 238,360 144,142 382,602 196,784 117,364 314,148 Analy•l• of r•¢•lpt• of govommont grants {Includod abov•) 2024 2023 Broxboume 8orough Council Hert3 County Council Local Councillor grants North Herts Dlstrict Council St Abans District Council Welwyn Haffield Borough Council 2,000 2,600 6,900 4,120 10,000 9,844 36,384 13.359 8,850 12.500 10,000 44.709 Fundraising activities and campaigns income in the prior year has been reanalysed from Fundraising events (see note 3) as the nature of this income is that it has been freely given without the donor receiving any benefit in return and therefore does not qualify as trading activity income. INCOME FROM OTHER TRADING ACTIVITIES Unr•strl¢t•d Restrlctod TOTAL Unrestricted Restricted TOTNL 2023 2023 2023 Restated Restated Restated 2024 2024 2024 Fundraising events 34,290 34,290 34,290 34,290 34,868 34,868 34,868 34,868 Fundraising activities and campaigns income in the prior year has been reanalysed from Fundraising events above to Donations and Legacies (see note 2) as the nature of this income is that it has been freely given without the donor receiving any benefrt in retum and therefo does not qualify as trading activity income. 17 HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMEKfs (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENTS Unr•strl¢ted Restrlcted TOTAL Un￿striCted Restricted TOTAL 2023 2023 2023 Restated Restated Restated 2024 2024 2024 Interest receivable 2,306 2.306 371 371 2.306 2,306 371 371 Inter681 receivable was Included wlthin other Income In the prlor year accounts but has been reanalysed as investment income above for comparatlve purposes. RAISING FUNDS Unr••trlct•d R•8trlct•d TOTAL Vnrestricted Restrictod TOTAL 2023 2023 2023 Restated Restated R•stated 2024 2024 2024 Fundralsing ¢08ts Consultancy costs Staff costs 60,007 12,279 43,889 106,175 $0,007 12.279 43.889 8.448 3,855 28,770 8,448 3,855 28.770 106.175 41,073 41,073 The prior year flgures have shown above have been reanalysed from charitable actfvltl8s (note 6) for comparative purposes. 18 HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES Charitable Expenditure 2023 Restated Charitable Expenditure 2024 Staff costs Premises costs Almin costs Family Group costs Family Support costs Trips and Activities Subscriptions Telephone Training and recruitrrent Travel Volunteer costs 297,857 15,985 3,255 15,626 9,318 1,608 582 3,535 1,150 11,628 2.012 264,773 14.240 3,817 8,042 10,174 1,521 576 2,315 2,083 7.809 1,493 362,556 23,318 8,830 316,843 10.246 8,617 Support costs (see note 7) Governance costs (see note 7) TOTAL EXPENDITURE 394,704 335,706 Unrestricted fvnds Restricted funds 247,687 147,017 394,704 200.938 134,768 335,706 The costs of raising funds in the prior year have been reanalysed from charitable activities above and are now shown within note 5 for comparative purposes. 19 HOME.START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 SHARE OF SUPPORT AND GOVERNANCE COSTS Support Govornanco Co8t8 Cost8 Support Governance Costs Costs 2023 2023 Reststed Restated TOTAL TOTAL 2023 Restated 2024 2024 2024 A£countancy feès AGM fees HSUK fees Insurance Independent exanwnats'on fee IT costs Professional fees 10,270 10,270 200 6,328 1,402 200 6,328 1,402 6,084 1,663 6.084 1.663 870 870 10,246 12.548 soo 12,548 soo 10,248 23,318 8,830 32,148 10,246 8,617 18,863 All costs were for Charitable Ath'vities. NET INCOMEIIEXPENDITURE) Net inconN8l No employee received total employee benefits (excluding employer pension costs) of more than £60.000. The average number of staff employed during the period was 17 (2023: 18). The key management personnel of the charity comprise the Trustees. the CEO. the Business Development Manager, the Sen4ice Delivery Manager, the Finance Manager and the Office Manager (who started in Sept 2022). The Finance Manager left at the end of June 2023 and the Trustees decided to employ the services of an outsourced finance provider rather than fill the vacant role. The total employee benefits of the key management personnel of the charity were £170,850 (2023: £145,600). 10. TRUSTEES, REMUNERATION AND EXPENSES, AND RELATED PARTY TRANSACTIONS The trustees all glve freely their time and expertlse wlthout any fomi of remuneration or other benefit in cash or kind. During the year. there was no reimbursement of costs to trustees (2023: £nil), The￿ are no donatlons from related parties which are outside the nonnal course of business and no restricted donations from related parties. No trustee or other person related to the charlty had any personal interest in any contract or transactlon entered into by the charity, includlng guarantees. during the year (2023: £nil}. Trustees indemnity insurance Is covered in the Charity insurance policy. 21 HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 11. TANGIBLE FIXED ASSETS Computer Equipment Total Cost . At l April 2023 Additions Disposals 16,169 16,169 At 31 March 2024 16,169 16,169 Oepreclation . At l Aprll 2023 Charge for the year Disposals At 31 March 2024 13,566 2,603 13,566 2,603 16,169 16,169 NBV at 31 March 2024 NBV at 31 March 2023 2,603 2,603 Net book value at 31 March 2024 represents fixed assets used for charitable purposes. 12. DEBTORS 2024 2023 Trade debtors Pr•payrrent8 & accru•d incoff 3,100 3,828 3,828 3,100 22 HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 13. CREDITORS . Amounts falllng due wlthln one year 2024 2023 Trade creditors Social security and other taxes ruals and deferred incoffe Other creditors 386 3.877 22.244 1.981 1,595 3,901 50,161 2,027 28,488 57,684 Deferred Income brought forward An￿untS released lo incom8 earned from charitable activities ￿n￿Unt def8rred in period D•f•rr•d Incom• ¢arrl•d forward 42,500 (42.500) 14. PENSIONS The charitsble company operates a defined contrlbutlon pension scheme for qualifylng employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At 31 March 2024, the amount outstsnding was £1,981 (2023: £1,134). 15. MOVEMENT IN FUNDS Balance at Incoming Resources Balance at l April 2023 Resources Expended Transfer$ 31 March 2024 Unrestricted Funds 190,295 275,107 {353,862) 111,S40 Restrfcted Funds 818 Hopes, Big Futures North Herts St Albans Stevenage Welwyn Hatfield Dacorum East Herts Herts County Council Hitchin Youth Trust HCF- Stevenage Family Group TNL Cost of Livin8 2,500 19,620 13,250 7,500 11,544 1,000 3,950 {1,9641 (17,5571 {13,750) 14,867) {13,744) (2,000) (4,250) {6,8741 {5.233) 12,500) 74,278 {74,278) 144.142 (147,0171 536 5,348 3,285 soo 518 2,200 1,000 300 6,647 2,573 2,500 3,151 4,773 2,840 5,500 19.523 16.648 Total Funds 209,818 419,249 {500,8791 128,188 23 HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS {contlnued) FOR THE YEAR ENDED 31 MARCH 2024 15. MOVEMENT IN FUNDS (continued) Prevlous reportlnq perlod Balance at Incoming Resources Balance at l Apr 2022 Resources Expended Transfers 31 Mar 2023 Unrestricted Funds 198,097 234,209 (242,011) 190,295 Restrlcted Funds North Herts St Albans Stevenage Welwyn Hatfield Dacorum East Herts Herts County Council Hitchln Youth Trust HCF . CFG HSUK- Volant HSUK- Pears HCF- Stevena8e Family Group Tesco Awards for All Co-op Garfield Weston Four Acre HCF HSUK- Brook Trust HSU K- White Stuff Shanty Restrkted Funds 9,940 4,194 1,587 3,000 700 3,060 2,703 2,531 13,250 11,850 2,500 2,450 1,350 300 12,200 5,145 (19,905} 115,544) 13,569) {3,250) (1,050} (3,0601 18,256) {S,103) {3,000) (2,500 (3,7121 12,5(X)) 2,875 {2,875) 10,00) (10,000) 2,323 (2,323} 30,000 130,(J)01 2,021 12,0211 5CK) (5001 7,6(Xl {7,600) 6,OlX) {6,000) 2,000 (2,lY)O} 117,364 {134,768) 3,285 5(MJ 518 2,200 1,000 300 6,647 2,573 2,5(X) 3,712 2,5(J) 36.927 19.523 Total Funds 235,024 351,573 {376,7791 209,818 The purpose of each restricted fund 18: Big Hope, Blg Futures To provide educational resources for use by the charity. North Herts To provide support to families living in the North Herts area of Hertfordshire. St Albans To provide support to families living in the St Albans area of Hertfordshire. 24 HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2024 Stevenage To provide support to families living in the Stevenage area of Hertfordshire. Wolvryn Haffield To provide support to families living in the Welwyn Haffield area of Hertfordshire. Dacorum To provide support to familles living in the Dacorum area of Hertfordshire. East Herts To provide support to families living in the East Herts area of Hertfordshire. Herts County Councll To provide support to families living in Hertfordshire through the provision of supermarket vouchers and the purchase of goods and equipment on behalf of families who are suffering financlal deprivation. Hltchln Youth Trust To fund the runnlng of the family group at the Hitchin Youth Trust, Hltchin. HCF- St•v•nag• Famlly Group To fund the running of the family group at St Nicholas Communlty Centre, sievenage. TNL- Cost of Llvlng To support the charity with the costs of existing delivery staff, volunteer costs and specific charity overheads as agreed with the National Lottery. 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestrlcted Restrkted Funds Funds Total Funds Tangible f ixed assets Net current assetsllliabilitles) 111,540 111,S40 16,648 16,648 128,188 128,188 Prevlous reporbng perfod Unrestrlcted Restricted Funds Funds Total Funds Tangible f ixed assets Net current assets1lliabilities) 2,603 187,692 190,295 2,603 207,215 209,818 19,523 19,523 25