REGISTERED COMPANY NUMBER: 08301552 (Engtsnd andW8les) REGISTERED CHARITY NUMBER: 11532871England and Wales) HOME-START HERTFORDSHIRE (A company Llmitad by Guarantee) ANNUAL REPORT AND UNAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
HOME-START HERTFORDSHIRE Contents Page Legal and Admlnistratlve Information Report of the Trustee3 {Including Dlrectors, Report 3-10 Independent Examlnefs Report 11 Statement of Flnanclal Actlvltles (Includlng Income and Expgndlture Account) 12 Statement of Flnanclal Po$ltlon 13 Notes to the Flnanclal Statsments 14-26
HOME-START HERTFORDSHIRE LEGALAND ADMINISTRATIVE INFORMATION Trustoos J Gregory G Christey A Earnshaw Treasurer R Firth B Gould D Humble S Morgan R Taylor M Tye S Whittaker C Wilson Z Wright S Hawley Chair Appointed 5 July 2024 Resigned 27 September 2024 Appointed 27 September 2024 Appointed 18 November 2024 Resigned 26 April 2024 Chlef Executlve Offlcor S Moody (left December 2024) Charlty Commlsslon Registered Charity Number 1153287 (England & Wales) Companies House Registered Company Number 08301552 (England and Wales) Reglstered offlce 5 Bedwell Park. Stevenage, Herts, SG11 NB Accountant Beyond Profit, Bolton Arena, Arena Approach, Hor¥vich. Bolton, BL6 6L8 Independent Examlner Neil C Harding, Bradshaw Johnson Chartered Accountants, Croft Chambers, 11 Bancroft, Hitchin, Herts, SG5 1JQ Bankers CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent. ME19 4JQ Sollcltors DAS Law, DAS Parc, Greenway Court. Bedwas, Caerphilly, CF83 8DW
HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES {Includlng Dlre¢tors' Report) FOR THE YEAR ENDED 31 MARCH 2026 The Trustees who are also directors of the charity for Ihe purposes of the Companies Act 2006. present their report with the financial statements of the charity for the year ended 31 March 2025. The Trustees have adopted the provisions of Accounting and Reporting by Charities". Statement of Recommended Practice applicable to Gharities preparing their accounts in accordance with the Flnancial 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 governing document, a deed of trust, and constitutes a limited company as defined by th6 Companles Act 2006. Structure Homa-start Hertfordshire was incorporated on 211t Novamber 2012 as a company limited by Guarantee not having Share Capitsl and was registered as a charity with the Charities Commission on 7 August 2013. The charity is governed by a Board of Trustees led by the Chairperson. The Trustees must hold atleast four meetings a year with at least one meeting being held in person. Every trustee has one vote on oach issue. The Trustees all contribute their time voluntarily and have confirmed that they have no intar8St that conflict with the interests and activities of the charity. 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: J Gregory G Christey A Earnshaw Treasurer R Firth B Gould D Humble S Morgan R Taylor M Tyre8 S Whittaker C Wilson Z Wright S Hawley Chair Appointed S July 2024 Resigned 27 September 2024 Appointed 27 Seplember 2024 Appointed 18 November 2024 Resigned 26 April 2024 Recrultment and appolntment of Trustees Trustees are elected by the Members or Copted by the Trustees. A Trustee's initial term of office after election shall be for a period of four years (being the period betsve8n each annual general meeting rather than calendar years). A Trustee may be elected for another term 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 GOvQPted Trustee holds office only until the next AGM.
HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES (including Directors, Report) FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND ACTIVITIES WHAT WE DO Scheme Objectives HSH operates on a simple yet profound beliethat every child deserves a safe and supportlve start in life. and every parent should have the guidance needed to make that possible. Home- Start Hertfordshire Covers the boroughs of Broxbourne, Dacorum. East Hertfordshire, North Hertfordshire (excluding Royston), Stevenage, St Albans and Welvryn Hatfield. Our objectives are: to safeguard, protect and preserve the good health, both mental and physical of children and parents of children to prevent cruelty to or maltreatment of children to relieve sickness, poverty and need amongst children and parents of children to promote the education of the public in b8tt8r standards of child-care within their respective aa3. Tho Sarvice The Home-start network consists of Home-start UK and affiliated local Home-starts throughout the UK, Together they form the Home•Start Service, delivering one-trTrone practical and emotional support to young famili88. Each Local Home-start is an independently registered charity that supports famllies in a way that reflects the needs within the community they serve. Home-start Hertfordshire provides baspoke support to families dealing wllh dlverse challenges, such as isolation and loneliness, disabilily, abuse, and poor mental health, as well as the overwhelming demands of parenting. Their work is not just about immediate relief bul empowering parents, building Iheir confidence to create a stable and nurturing environment for their children. The core of Home-start Hertfordshire's work lies in its volunteer-led approach. These volunteers are not just people from the community; they are the cornerstones of the charity, extensively trained to provide tailor-made support. They visit family 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. confidantial and non-judgemental. Families report a huge and positive improvement in their lives and the lives of their families, because of the servi. The stories of change are both heart-wrenching and heartwarming. Picture a young mother. overwhelmed and isolated. her partner working long hours, her family miles away. 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 singla father, battling depression, who found in his volunteer not just a guide. but someone who gave him the believe that he could be a good dad. These are the everyday victories of Home-start Hertfordshire. AcHIEVEmEr AND PERFORMANCE The Bu51ness Plan In November 2022. we launched our five-year strategic plan 'Moving FoNiard with Families., where our vision is that 'every parent has access to the support they need to give their children the best start in Ilfe..
HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES (inGluding Directors. Report) FOR THE YEAR ENDED 31 MARCH 2025 We have made great progress against this plan and the foundations we secured in year 1 remain in place: Ensuring the governance of the charty is robust with the Board comprising a diverse group of Trustees wlth a variety of appropriate skills. Appropriate Systems, policies and procedures, enable all staff to work safely, efficiently and effectively within their boundaries. How&ver. economic challenges have significantly impacted UK charities, especially srnaller on88 like us through reduced public and govérnment funding. increased operational Gosts due to inflation, and a rise in demand for services. This economic strain has led to reduced incom8, increased and more complex referrals and workloads. and operational challenges. We have managed this situation effectively with increased scrutiny of our monthty cashflow and laser focus on our costs which came in £78k under budget as a result of: Non replacement of our CEO post her resignation, with Trustees plcking up strategic leadership Non replacement of the rolling Business Support Officer vacancy Delaying the introduction of a CRM systam Movement of a proportion of the work undertaken by Beyond Profit back to our inhouse Finance Officer Savings against utilities as wa soughl to move to the lowest cost providers The contingency cost instigated to support us against inflation remained unused as wo steered our way through the cost savings Going forward we will continue to review our operating costs to ensure that our funding projection is higher than our expendllure to support growth of our reserves. Fundlng We have faced increased financlal pressure due to falllng individual donations, declining public funding. and intsnse competition for grants, despite the growing level and complexity for the service we offer. Despite this the charity managed to deliver income levels just shy of 23-24 levals but £139k behind our budget. Key areas: The largest miss came from fundraising events at-£66k, as we struggled lo secure local corporate support to support our planned events, notably the golf days Our Corporale funding stream also missed budget by -£42k as we saw our Ambassador Group deliver ServIS to the charity in kind but struggled to engage longer term charity funding synergy. Grant funding missed budget by -£22k, which was a -£1 Ok reduction on 23-24 despite grant applications surging by a reported 30-50%, with some foundations seeing their numbar double. Donations missed the budget by -£6k reflecting the financial struggles across the board
HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES {Including Directors. Report) FOR THE YEAR ENDED 31 MARCH 2025 Income 2024-25- £397,793 •Grant Fundiiy É137.628 • FundralstngEvents £94,158 Campaigns £54.843 Donations £53.32S • In1nd Donations £36,450 Statutory £11,698 • Corporate £7,489 Olhef £2.204 We continue to review our fundraising capabilities and are looking to build on our areas for success noxt year with our Gala dinner moving to a bigger vanue as we hava reached capacity with our current location, and growth of our Pancake Festival. In summary our income levels of £397.793 fell £53,606 short of covering our expenditure of £451 ,399, eating into our reserves, with future savings identified for next year The Familios and Voluntèars The core focus of Home-start Hertfordshire's work remains its volunteer-led home visiting serrfice, supported by community-based Family Groups. During the financial year 2024125, Ihe charity facilitated 9 Family Groups across H@rtfordshire, providing direct support to 217 families, including 341 children under Ihe age of five, Ihrough the involvement of up to 88 trained volunteers. The referral needs of families have continued to grow in cornplexity, with mental health emerging as the predominant issue. Increasing levels of anxiety, isolation, and low confidence among parents have been obserded. The cost-of-living crisis has further exacerbated these difficulties, particularly for families already facing financial hardship. In some cases, families were forced to make difficult choices between essential needs. The charity provided assistance through signposting and referrals to other organisations offaring targeted financial or practical support.
HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES (includlng Directors, Report) FOR THE YEAR ENDED 31 MARCH 2025 Volunteers, supported and guided by the staff team, remain central to the charity's service delivery and success. Volunteer recruitment and retention presented ongoing challenges during the year, reflecting national trends and the continued economic pressures on households. Some volunteers were required to take on caring responsibilities for grandchildren or return to employment for financial reasons. Despite these challenges, volunteers continued to provide high-quality. consistent support to families throughout Hertfordshire, helping to ensure that children have the best possible start in lif8 and are supported to thrive. Wa extend our heartfelt thanks to our amazing team and volunteers, alongside our ambassadors, fundraisers, donors, corporate partners, Trustees and our former Patron for their ongoing commitment and generosity, without which our aGhievements would not be possible. Quallty Assurance During FY 2024125, Home-start Hertfordshire commenced participation in Home-start UK'S Quality Assurance Programme. This is a comprehensive two-year process of self-assessment against national quality standards, This programme supports the charity in systematically reviewing its governance, management and service delivery practices. It emphasises continuous improvement and organisational leaming. ensuring that we maintain the highest standards of effectiveness, accountability and support for families across the county. At the date of reporting, Home-start Hertfordshire has achieved strong results, with our submlssions assessed as robust and of a high standard, demonstrating excellent outcomes across key practice areas. Thes8 findings reflect the charity's ongoing commitment to quality service, responsible practs'ce and meaningful support to families throughout Hertfordshire. Looking to the Future As we look to the future, our 2025126 Business Plan focusses on realigning our cost base to ensure we can operate successfully within the realms of the funding we have consistently delivered across Ihe last few years. The impact of Home-start Hertfordshire stretches beyond the immediate family to the broader community. 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, nol just survive. However. like many Gharities. HSH faces its own challenges. Family's needs have been exacerbated by ongoing socioeconomic issues, resulting in an increase in families in crisis. Funding and resources cannot keep up with the demand and with Ihe curtent 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 essèntial services. Whilst it has been a tough year, the actions taken this year have been about securing a positive future for the charity, recognising the value of our staff and putting into place the extra investment required to move the charity forwards to grow our income stream in order to meet the growing demands for the services offered. Our Ambassadors Group continues to be a route where we
HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES (includlng Dlrectors, Report) FOR THE YEAR ENDED 31 MARCH 2025 seek to work with them to diversify our income sources and develop new areas of funding. Home- Start Herts is also looking at the ways in can work in partnership with other organisations who have similar aims and objectives. Supporting Hertfordshire is more than charity; it is an investment in the future of the community and its families. To donate visit www.home-startherts.or FINANCIAL REVIEW Treasurers Report The financial year 2024125 was our ninth year as a fully operating organisation, supporting families in the boroughs of Broxbourne, Dacorum, East Hertfordshire. Norlh Hertfordshire (excluding Royston), Stevenage, St Albans and Welwyn Hatfield. 202412025 was another difficult year as small charities continue to be impacted by aconomlc challenges, impacting the cost of living and directly impacting public and private funding whilst Inflation drives up costs. Our dillgent cost control alongside facing into tough decisions not to replace some vacancias supported us to Partially offset some of this miss to funding. We secured income of £397,793 and had to draw on our reserves but remain within our 2-4 month plus redundancy costs policy. Combining both Ihe actual income and expenditure, our final position for 202412025 was a deficit of £53,606. We continue to consolidate in line with economic predictions with plans in place to further reduce costs and dellver income higher than expenditure to build back our reserves and recover our position as we move through 202512026. IAY personal thanks, along with the board, goes to all staff, volunteers, Trustees and board members for all Ihe support and help in achieving tha lavel of support we have provided. Financial Summary 2024-25 2023-24 Income £397,793 £419,249 Expenditure £451.399 £500,879 The charity is hugely grateful to the companles, funders and donors who Gontinue to support us through their donations and fundraising. An extensive list of supporters can be found in the 2024- 2025 irnpact report. We would especially like to thank the following: The many individual donors and especially those who have signed up to regular monthly giving. We appreciate the support from local community groups such as Rotary clubs, Inner Wheel, Round Tables, Soroplimists, Schools, Freemasons, and churches including Sunnyside Church, St. Albans Cathedral & Abbey and St Mary's Welwyn.
HOME-START HERTFORDSHIRE REPORT OF THE TRUSTEES (includlng Dlrectors, Report) FOR THE YEAR ENDED 31 MARCH 2025 Our supporters who have undertaken fundraising challenges and those who have sponsored them and all those who pledged and donated to our Big Give Christmas match funded campaign and other appeals during the year. We were also a beneficiary of the county-wide Helping Herts campaign which inGluded a matched funded sponsored walk last year. Our grant funders. borough and county councils and individual county councillors who have supported us with grants and donations enabling us to continue and expand the work we do. All who took part in our fvndraising events including our Great Gatsby Gala dinner and annual St Albans Pancake Festival, and the companies who provided sponsorship to enable them to be successful. We have banefitted from génerous corporate donations and in-kind expertlse from companies and individuals based in Hertfordshire. These include No Nonsense Design. Heart Radio, Holiday Inn Express and Taylor Watton whose team fundraised and refurbishedltransfomed our Stevenage Office- and the support of our patron Ken Follett and The Follett Trust. Reserves policy At the end of the financial year, the charity held £74,582 in reserves (2024., £128,188) of which £68,909 ware unrestricted reserves (2024.. £111,450) The Trustees have set a reserves policy which requires: a) reserves are maintained at a level which ensures that Home-start Herts core actlvlty could continue during a period of unforeseen difficulty. b) a proportion of reserves ara maintained in a readily realisable form. The calculation of the required level of reserves is an integral part of Home-slart Herts planning. budget and forecast cycle and takes into account.. Having considered the risk. activty and commitments of the Ofganisation. Trustees have agreed that Home-start Herts needs to retain a level of reserves bebNeen 3- and 6-months running costs, plus redundancy and unspent restricted funds. If reserves are consistently above 6 months running costs, the Trustees will discuss how the exce&8 could be spent in lina wlth tha charitys aims. Subsequent to the year end the Trustees have reviewed the reseeS policy and have determined that th8 raseNes should be between 2 to 4 months of running costs. The free reserves of the charty at the end of the period are £68,909 (this is calculated by taking the unrestricted funds and deducting any fixed assets).
HOME4TART HERTFORDSHIRE REPORT OF THE TRUSTEES (includlng Dlre¢tors' Report) contlnued FOR THE YEAR ENDED 31 MARCH 2025 Trustees, Responslbilitles In Relatlon to the Flnanclal Statements The Trustees (who are also the d1CtorS of Home-start Hartfordshire for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the TrLAStees to prepare the financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, th8 Trustees are required lo selecl suitable accounting policies and thon apply them consistently; obse8 Ihe methods and principlas of Charity SORP 2019 (FRS 102); 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: prepare the financial statements on the going concern basis unless it is inappropriate to presuma that the charity will continue in business. The Trustees are sponSible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Compani•$ Act 2006. They are also responsible for safeguarding the assets of the charity 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 provid8d by section 415A of the Companies Act 2006, This Annual Report was approved by the Board of Trustees on ...,..,........ and signed on their behalf by: Julia Gregory- Chair 10
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF HOME-START HERTFORD HIRE Independent examlnerfs 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 y8ar ended 31 March 2025. Re8pon8lbllltle8 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 Companies Act 2006 ('the 2006 Act.). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 AGt and are eligible for independent examination, I report in respèct of my examinatlon of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Acl,). 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 examinerfs statement Since your charity's gross income exceeded £250,000 your 8xaminer must be a member of a listed body. I can confirm that l am qualified to undertake the examination b8cause l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the Ilsted bodies. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Saction 386 of the 2006 Act; or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charits'e8 (applicable to charities preparing their accounts in accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Neil C Harding Bradshaw Johnson Chartered Accountants Croft Chambers 11 Bancroft Hitchin Hertfordshire SGS 1JQ 11
HOME-START HERTFORDSHIRE STATEMENT OF FINANCIAL ACTIVITIES (includlng Income and Expendlture Account FOR THE YEAR ENDED 31 MARCH 2026 Unrestrlct•d R•$trleted TOTAL Unrestrlcted Restricted TOTAL 2025 2028 2025 2024 2024 2024 Note INCOME FROM: Donations and legacies Other trading activities Investments 256,307 94,156 1.795 409 45,126 301,433 94,156 1,79S 409 238,360 144,142 382,502 34.290 34,290 2.3C 151 2.306 151 Other incon TOTAL INCOMÉ 362.667 46.126 397,793 275,107 144.142 419,249 EXPENDITURE ON: Raising funds Charitable actlvllies 91,418 301,176 392,594 91,418 58.805 369,981 58,806 451,399 106.175 106,175 394,704 247.687 147,017 TOTAL EXPENDITURE 353,862 147.017 500,879 NET {EXPENOITUREIIINCOME 139,9271 {13,879I 153,606) {78.755) {2,875) (81.8301 Transfer bètrrnèn furKI3 {2,704 Z,704 (42,631) (10,9761 {53,806) 178,755) NET MOVEMENT IN FUND8 15 12.8751 181,630) Fund b¥lancas brought lorward 111,540 16,648 128,188 190,295 19,523 209,818 TOTAL FUND8 CARRIED FORWARD 88,909 5,673 74,682 111,540 18.848 128 188 The statement of financial a¢tivrties includes all gains and losses recognised during Ihe year. All income and expenditure derive from continuing activlties. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The notes on pages 14 to 25 form part of the financial statements 12
HOME-START HERTFORDSHIRE STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2025 Company number: 08301552 Notes 2025 2024 FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors Cash at bank and in hand 12 2.146 94,263 96,409 3.828 152,848 158,678 CREOITORS . amounts falling due wlthin one year 13 121.8271 (28,488) NET CURRENT ASSETS 74.582 128,188 NET ASSETS FUNDS Unrestricted Restrictad 74,682 128,188 15 15 68,909 5,673 111,540 16.648 TOTAL FUNDS 74.582 128,188 The company was entitled to exemption from audit under $477 of the Companies Act 2008 relating to small companies but as this Company is a charity, it is subject to independant examination under the Charities Act 2011. The member8 have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for comptying wilh the requiraments of the Companie8 Act with respect to accounting records and the pr8paration of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with SORP FRS102. The fi ancial statem were approved and authorised for Issue by the Board on . .1.1...2£)1¥......... and signed on its behalf by". (rvffl o y* J M Grogory Chalr The notes on pages 14 to 25 form part of the financial statements 13
HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. ACCOUNTING POLICIES The prinGipal accounting policies adopted, judgmants and key sources of estimation UnrtaInty in the preparation of the financial statements are as follows: Basis of preparlng financlal statements The financial statements have been prepared in accordance with Accounting and Reporling by Charities.. Statement of Recommended Practice applicable to Charities preparing thèir 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). the Charities Act 2011 and the Companies Act 2006. The charity constitutes a public benefit entty as defined by FRS 102, The financial statements are prepared in sterling. which is the functional currency of th8 charity. Monetary amounts in these financial statements are rounded to the nearest £. Assets and liabilits-es are initially reGognised at historical cost or transaction valua unless otheThvise stated in the relevant accounting policy note. b. Preparatlon of the accounts on a golng conc8m ba818 The Trustees conslder that there are no material uncertainties aboLrt the charitable company's ability to continue as a going concern. The Trusts8s have made no key judgment8 which have a slgnlficant effect on the accounts. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a matarial adjustment to the carrying amount of assets and liabilities wrthin the next reporting period. Income recognltlon Income is recognised when the charity has entitlement 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 be measured reliably. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donats'on, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations reived under Gift Aid or deeds of covenant is recognised at the time of the donation. Income earned from fundraising events and trading activities Io false funds for the charity are recognised when entitlement has occurred. Income from government and other grants, whether 'capital' grants or'revenue, grants, is recognised when the charity has entitlement 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 (contlnued) FOR THE YEAR ENDED 31 MARCH 2026 d. Donated glfts and services Donated professional services and donated facilities are recognised as income when th8 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 Ihe Charities SORP (FRS 102), general volunteer time is not recognised. On receipt, donated professional services and donated facilities are recognised on the basis of the 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 benefft on the open market", a corresponding amount is then recognised in 8xpenditure in the period of receipt. e. Interest recelvabla Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is nomally upon notification of the interest paid or payable by the Bank. f. Fund accountlng Unrestricted funds are available to spend on activities that furthèr any of the 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. Expendlture Expenditure is recognlsed once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will b8 required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified as the aggregate of all costs related to a category under Ihe following headings.. Costs of raising funds includes the Cosls in relation to fundraising events, seeking and following up voluntary contributions and donations from supporters and grant writing consultants. Expenditur8 on charitabla actlvltles includes the costs undertaken to further th6 purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading. Iriecoverable VAT is charged as an expense against th8 activity for which expenditure arose. h. Allocatlon of support costs Support cosls are those functions that assist the work of the charity but do not directly relate to either cost of raising funds or charitable activities. These costs are all allocated to charitabl8 activities. 15
HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 202S l. Tanglble flxed assets Individual fixed assets costing £1.000 or more are capitalised at cost and are depraciated over their estimated useful economic lives on a straight-lina basis as follows: Computer equipment 33 /0 Straight-line basis 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 tradè discounts due. k. Cash at bank and In hand Cash at bank and cash in hand includes cash and short tem highly liquid investments with a short maturity of Ihree months or less from the dat8 of acquisition or opening of the deposit or sirnilar account. l. Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can b8 measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowlng for any trade discounts due. m. Flnanclal Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instrumenls. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exptIOn of bank loans which are subsequently measur8d at amortised cost uslng the effectiv8 interest method. n. Penslons Employees of the charity are entitled to join a defined contribution 'money purchase, scheme. The charity's contribution Is restricted to tha contributions disclosed in note 9. o. Corporatlon Tax The charity is exempl from tax on income and gains falling withln Chapler 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. p. Legal status of the charltable company Home-start Hertfordshire is a ¢haritable company incorporated in England. The registered office is 5 Bedwell Park, Stevenage, Hertfordshire. SG1 1 N8. The members of the charitable company are the Trustees 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 not exceeding £1. This guarantèe 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 2025 DONATIONS AND LEGACIES Unrogtrlctsd Restrlcted TOTAL Unrestricted Reslncted TOTAL 202S 2025 2026 2024 2024 2024 Donats'ons Donaled gifts and seNices Fundraising activitles and campaigns Grants Slalulory funding Corporate funding 52.825 36,450 soo 53,325 36,450 43,244 52,104 43.244 52,104 S4,843 $4,843 58,871 58.871 1fA.700 32,928 137,628 11,698 11,698 7,489 38,051 108,778 146.829 35.364 35,364 48.090 7,489 46,090 238.380 286,307 45,126 301.433 144.142 382.502 Analy818 of recelpt• of gov•mm•nt grant8 (Includod above 202S 2024 Broxboume 8¢Jrough Council East Herts Council Herts County Council Local Councillor granls North Hefts District Council St Abans Distriei Council Stevanage Borough Council Welvryn Haffield Borough Council 2,C#JO 3,000 2,$00 6,900 4120 10,000 500 2,058 3,200 soo 11,698 35.364 INCOME FROM OTHER TRADING ACTIVITIES Unre8tr1cted R••trl¢tod TOTAL Unr8stried Restrlcted TOTNL 2028 2026 2025 2024 2024 2024 Fundraislng events 94.156 94,156 34.290 34.290 94,166 94,156 34.290 34,290 INVESTMENTS Unr•$trlctsd Re$trl¢t•d TOTAL 2025 2025 2025 Unrestrl¢ted Restricted TOT AL 2024 2024 2024 Interest rec8ivable 1,795 1,795 1,795 1,79S 2,306 2,306 2,306 2,306 17
HOME-START HERTFOROSHIRE NOTES TO THE FINANCIAL STATEMENTS (continuedl FOR THE YEAR ENDED 31 MARCH 2025 RAISING FUNDS Unrestrlctod Réstrl¢t?d TOTAL Unrestrict8d Rostricled TOTAL 2025 2025 2025 2024 2024 2024 Fundraising costs Consultancy costs staff costs 50,027 385 41.008 50,027 385 41,006 50,007 12,279 43,889 50,007 12,279 43.889 91,418 91,418 106,175 106.175 CHARITABLE ACTIVITIES Charitable Expondlture 2025 Charitable Expenditure 2024 Stsff costs Premises costs Adrrin costs Family Group costs FalY Support costs Trips and ktivitl88 Subscriptions Telephone Training and recruitment Travel Volunteer costs 278.621 8,374 3,556 12,385 6,381 796 591 2,631 297,857 15,985 3.255 15.626 9.318 1,608 582 3,535 1,150 11,628 2,012 10,086 999 322.400 26,476 11,105 362,556 23,318 8,830 Support costs (see note 7) Governance costs (see nots 7) TOTAL EXPENDITURE 359.981 394.704 Unrestricted funds Restricted funds 301,176 58,805 359,981 247.687 147,017 394.704 18
HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2025 SHARE OF SUPPORT AND GOVERNANCE COSTS Support Governan¢e Costs Costs 202S 2025 TOTAL Support Govemance Costs Costs 2024 2024 TOTAL 202S 2024 Accountancy fees AGM fees HSUK fees Insurance Independent examinatlon fee IT costs Legal Fees Professional fees Trustee eypenses 12,28S 12.285 15 7,546 1,878 10.270 10,270 200 6,328 1,402 15 200 6.328 1,402 1,878 1,060 1,060 14,191 480 81 45 900 900 12,548 14,191 12,548 81 46 500 500 26,476 11,105 37,581 23,318 8,830 32.148 AJI costs were for Charitable Activities. NET INCOMEI{EXPENDITUREI Net incomel(expenditurel Is staled after charging 2025 2024 Depreciation Independent exanlnors foe 2,603 900 1.060 19
HOME4TART HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THÉ YEAR ENDED 31 MARCH 2025 STAFF COSTS AND KEY MANAGEMENT PERSONNEL 2025 2024 Wages and salaries Social security costs Erroloyerfs pension costs 293,918 17,145 8,564 312.378 19.145 10,223 319,627 341.746 Allocatsd as follows: Cost of raising ftjnds Charitable activities 41.006 278.621 43,889 297,857 319,627 341,746 No employee received total enployee banefits (excluding •mployor pension costs) of mre than £80,000. The average nuntsr of staff eny)loyed during the perlod was 16 (2024: 17). The key nk?nagent personnel of the charity comprise the Trustees, lh8 CEO, the 8usiness DevelopEnt Manager, the Service Delivery Manager and the Finance Manager. The Chief Executive left the organisation in Decen*er 2024. The Trustees have decided that currently they are not recruiting lor the role, The total enwloyee beneffts of the key management personnel of the charity were £147,395 (2024: £170.850). 20
HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2025 10. TRUSTEES, REMUNERATION AND EXPENSES, AND RELATED PARTY TRANSACTIONS The Trustees all give freely their time and expertise without any fom of remuneration or other benefit in cash or kind, During the year one Trustee claimed eypenses totalling £45 for attendance at a fundraising event where they were reprasenting the charity {2024: £nil) There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. No trustee or othar parson related to th8 charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2024: £nil). Trustees indemnity insurance is covered in the Charity insurance policy. 11. TANGIBLE FIXED ASSETS Computer Equipment Total Cost: At l April 2024 Addition5 Dlsposals At 31 March 2025 16,169 16,169 16,169 16,169 Depreciation At l Aprll 2024 Char8e for the year Disposals At 31 March 2025 16.169 16,169 16,169 16.169 NBV at 31 March 2025 NBV at 31 March 2024 Net book value at 31 March 2025 represents fixed assets used for charitable purposes. 21
HOME-START HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS Icontinued) FOR THE YEAR ENDED 31 MARCH 2025 12. DEBTORS 2025 2024 Prepayments & ac¢ru8d incoff 2.146 3.828 2,146 3.828 13. CREDITORS . Amounts falllng du• within one year 2025 2024 Trade creditors Social secuflty and other taxes Accruals and deferred incom8 Other creditors 2,141 2.627 15,588 1,471 388 3,877 22,244 1,981 21,827 28,488 14. PENSIONS The charitable company operate8 o dafined Contrlbullon pension scheme for qualifying employ8as. The 098&ts of thè schem8 are held separal8ly from those of the charity in an Independently adnynistered fund. At 31 March 2025, the amount outstanding was £1,471 (2024.. £1.981). 22
HOMETART HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (continued FOR THE YEAR ENDED 31 MARCH 2026 15. MOVEMENT IN FUNDS 8alance at Incoming Resources Balance at l April 2024 Resources Expended Tran5fer5 31 March 202 Unrestrlcted Funds 111.540 352,667 1392,5941 12,7041 68,909 Restricted Funds Bl8 Hopes. Big Futures North Herts St Albans Stevenage Welwyn Hatfield Dacorum East Herts Herts County Councll Hitchln Youth Trust Letchworth HCF- Stevenage Farnlly Group John Apthorp 536 5,348 {530} 14.3991 {4,8401 111.6291 (200) {400) {8,71)0) {4,635) 12.8401 (16,0671 11371 14,4281 158,805) 2,058 4,840 11.0 200 400 8,700 3,007 3.151 2,522 4,773 2,840 138 13,5CK) 2,567 137 4,428 45,126 16.648 2,704 5,673 Total Funds 128,188 397,793 {451,3991 74,582 23
HOME4TART HERTFORDSHIRE NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2026 15. MOVEMENT IN FUNDS (continued Previou5 reportlng perlod 8alance at Incoming Resources 8alance at l April 2023 Resources Expended Transfers 31 March 2024 Unrestricted Funds 190,295 27S,107 1353,8621 111.540 Restrlcted Funds Big Hopes, Big Futures North Herts St Albans Stevena8e Welwyn Hatfield Dacorum East Herts Hert$ County Council Hitchln Youth Trust HCF- Stevenage Family Group TNL Cost of Llving 2,SOO 19,620 13,250 7,500 11,544 1.000 3,950 (1,9641 117,557) 113,750) 14,8671 113.744) 12,CNJOI 14,2501 16,8741 15.2331 12,500) 74,278 174,278 144,142 (147,017) 536 5.348 3,285 500 518 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 1500,8791 128,188 The purpose of each restricted fund Is: 818 Hopes. Bi8 Futures To provide educational resources for use by the charlty. North Herts To provide support to familles livin8 In the North Herts area of Hertfordshire. St Albans To provide support to families living In the St Albans area of Hertfordshire. Stevena8e To provide support to famllles Ilving in the Stevena8e area of Hertfordshire. Welwyn Hatfield To provide support to families living in the Welwyn Hatfield area of Hertfordshlre. Dacorum To provide support to families living In the Dacorum area of Hertfordshire. East Herts To provlde support to famllies livlng in the East Hert5 area of Hertfordshlre. Herts County Councll To provide support to families living in Hertfordshire through the provision of supermarket vouchers and the purchase of goods and equiprnent on behalf of famllles who are sufferin8 financlal deprfvatlon. 24
HOME-START HERTFOROSHIRE NOTES TO THE FINANCIAL STATEMENTS (contlnued) FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS (continued) Hitchin Youth Trust To fund the running of the family group at the Hitchin Youth Trust. Hitchin. Letchworth To provide support to families livin8 in the North Herts area of Hertfordshire. HCF - Stevenage Famlly Group To fund the runnln8 of the family group at the St Nicholas Community Centre, Stevenage. John Apthorp To sUPPOrt the charity with the purchase of laptops. 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestrlcted Restrfcted Funds Funds Total Funds Tangible fixed assets Net current assets/(liabilitSes) 68,909 68,909 S,673 5,673 74,582 74,582 Prevlous reportlnq perfod Unrestrlrted Re5tr1cted Funds Funds Total Funds Tangible fixed assets Net current assets/{Ilabilities) 111,540 111,540 16,648 16,648 128.188 128,188 25