**COMPANY REGISTRATION NUMBER: 09978585** ## **CHARITY REGISTRATION NUMBER: 1173979** ## **The Habitat First Foundation Company Limited by Guarantee Unaudited Financial Statements** ## **31 December 2021** ## **LEAMAN MATTEI** Chartered accountants Suite 1, First Floor 1 Duchess Street London W1W 6AN ## **The Habitat First Foundation** ## **Company Limited by Guarantee** ## **Financial Statements** ## **Year ended 31 December 2021** ||**Page**| |---|---| |Trustees' annual report (incorporating the director's report)|**1**| |Independent examiner's report to the trustees|**4**| |Statement of financial activities (including income and|| |expenditure account)|**6**| |Statement of financial position|**7**| |Notes to the financial statements|**8**| **The Habitat First Foundation** ## **Company Limited by Guarantee** ## **Trustees' Annual Report (Incorporating the Director's Report)** ## **Year ended 31 December 2021** The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2021. ## **Reference and administrative details** **Registered charity name** The Habitat First Foundation **Charity registration number** 1173979 **Company registration number** 09978585 **Principal office and registered** Unit 4, Priory Court **office** Cirencester Gloucester GL7 5JN England ## **The trustees** Mr H Watson Mr W Vicary Mrs R Haines Mr R Paxton Mr R Paxton **Independent examiner** Sonia Yeshin, BFP FCA Suite 1, First Floor 1 Duchess Street London W1W 6AN ## **Structure, governance and management** The Habitat First Foundation is a company limited by guarantee governed by its Memorandum and Articles of Association dated 18 July 2017. It was registered as a charity with the Charity Commission on 27 July 2017. The trustees who have served during the year and since the year-end are set out on page 1. The power to appoint new trustees is exercised by a majority in number of existing trustees. Where there is a need for new trustees, this would be identified by the remaining trustees. Trustees meet regularly during the year to agree the broad strategy and areas of activity for the charity. Trustees consider reserves and risk management policies and performance. The day-to-day administration of the charity lies with the Executive Director. The trustees have examined the major strategic, business and operational risks which the charity faces and confirms that systems have been established to enable continuous monitoring of such risks so that appropriate steps can be taken to lessen these risks. **1** ## **The Habitat First Foundation** ## **Company Limited by Guarantee** **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 December 2021** ## **Objectives and activities** The Habitat First Foundation is a charity based in the Cotswolds and was created by the owners of the Habitat First Group. The Foundation's objective is the relief of sickness and the promotion of, in particular but not exclusively children and former members of the armed forces who are mentally or physically disabled. The ultimate goal is to build a unique property for providing or assisting in the provision of respite holidays at each of Habitat First Group's sites across the Cotswolds, Dorset and Devon. ## **Public benefit statement** We are conscious that the Charities Act 2011 emphasises the requirement that all charities of every kind must be able to demonstrate that their work is of direct benefit to the public. We believe that ultimately the activities we will fund through all income streams, covering a wide range of issues, which we categorise under arts and culture, education and media environment, human and social rights, and medical, are demonstrably of public benefit as they will provide the much need respite to members of of the public who need it the most. ## **Achievements and performance** It is relatively early days in the Charity's fund raising history, but The Habitat First Foundation remains on course to achieve the goal of building up enough capital to achieve its ultimate goals over the next few years. ## **Financial review** The organisation is reliant on donations, the income from which was £46,120. For the year ended 31 December 2021, a surplus of £44,320 for the year has been achieved which utilises funds brought forward from the previous year. At the end of the financial year net current assets were £86,205 ## **Reserves policy** In view of the nature of the Trust's activities, the trustees have no policy on reserves. Rather, they seek to ensure that liabilities can be paid as they fall due without accumulating unnecessarily high cash balances. ## **Small company provisions** This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. **2** ## **The Habitat First Foundation** ## **Company Limited by Guarantee** **Trustees' Annual Report (Incorporating the Director's Report)** _**(continued)**_ ## **Year ended 31 December 2021** The trustees' annual report was approved on 23 September 2022 and signed on behalf of the board of trustees by: Mr R Paxton Trustee **3** ## **The Habitat First Foundation** ## **Company Limited by Guarantee** ## **Independent Examiner's Report to the Trustees of The Habitat First Foundation** ## **Year ended 31 December 2021** I report to the trustees on my examination of the financial statements of The Habitat First Foundation ('the charity') for the year ended 31 December 2021. ## **Responsibilities and basis of report** As the trustees of the company (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 ('the 2006 Act’). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the 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 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: 1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 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 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 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). **4** ## **The Habitat First Foundation** ## **Company Limited by Guarantee** ## **Independent Examiner's Report to the Trustees of The Habitat First Foundation** _**(continued)**_ ## **Year ended 31 December 2021** 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. Sonia Yeshin, BFP FCA Independent Examiner Suite 1, First Floor 1 Duchess Street London W1W 6AN **5** ## **The Habitat First Foundation** ## **Company Limited by Guarantee** ## **Statement of Financial Activities (including income and expenditure account)** ## **Year ended 31 December 2021** |||**2021**|**2021**|2020| |---|---|---|---|---| |||Unrestricted||| |||funds|**Total funds**|Total funds| ||**Note**|**£**|**£**|£| |**Income and endowments**||||| |Donations and legacies|**5**|46,120|46,120|36,480| |||``|``|``| |**Total income**||46,120|46,120|36,480| |||``|``|``| |**Expenditure**||||| |Expenditure on charitable activities|**6,7**|1,800|1,800|1,710| |||``|``|``| |**Total expenditure**||1,800|1,800|1,710| |||``|``|``| |||``|``|``| |**Net income and net movement in funds**||44,320|44,320|34,770| |||``|``|``| |**Reconciliation of funds**||||| |Total funds brought forward||41,885|41,885|7,115| |||``|``|``| |**Total funds carried forward**||86,205|86,205|41,885| |||``|``|``| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. **The notes on pages 8 to 12 form part of these financial statements.** **6** ## **The Habitat First Foundation** ## **Company Limited by Guarantee** ## **Statement of Financial Position** ## **31 December 2021** |||**2021**|2020| |---|---|---|---| ||**Note**|**£**|£| |**Current assets**|||| |Cash at bank and in hand||94,205|48,085| |**Creditors: amounts falling due within one year**|**12**|8,000|6,200| |||``|``| |**Net current assets**||86,205|41,885| |||``|``| |**Total assets less current liabilities**||86,205|41,885| |||``|``| |**Net assets**||86,205|41,885| |||``|``| |**Funds of the charity**|||| |Unrestricted funds||86,205|41,885| |||``|``| |**Total charity funds**|**13**|86,205|41,885| |||``|``| For the year ending 31 December 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: - 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; - The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime. These financial statements were approved by the board of trustees and authorised for issue on 23 September 2022, and are signed on behalf of the board by: Mr R Paxton Trustee **The notes on pages 8 to 12 form part of these financial statements.** **7** **The Habitat First Foundation** **Year ended 31 December 2021** # **Company Limited by Guarantee** **Notes to the Financial Statements** ## **1. General information** The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit 4, Priory Court, Cirencester, Gloucester, GL7 5JN, England. ## **2. Statement of compliance** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. ## **3. Accounting policies** ## **Basis of preparation** The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. ## **Going concern** There are no material uncertainties about the charity's ability to continue. ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## (a) Significant judgements No critical accounting judgement was made by management in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. **8** **The Habitat First Foundation** # **Company Limited by Guarantee** **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 December 2021** ## **3. Accounting policies** _**(continued)**_ ## **Judgements and key sources of estimation uncertainty** _**(continued)**_ (b) Key sources of estimation uncertainty No critical sources of estimation uncertainty were made by management in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. ## **Incoming resources** All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. **9** ## **The Habitat First Foundation** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 December 2021** ## **3. Accounting policies** _**(continued)**_ ## **Financial instruments** A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. ## **4. Limited by guarantee** The charity is is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. ## **5. Donations and legacies** ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| |---|---|---|---|---| ||Funds|**2021**|Funds|2020| ||£|**£**|£|£| |**Donations**||||| |Donations|46,120|46,120|36,480|36,480| ||``|``|``|``| |**Expenditure on charitable activities by fund type**||||| ||Unrestricted|**Total Funds**|Unrestricted|Total Funds| ||Funds|**2021**|Funds|2020| ||£|**£**|£|£| |Support costs|1,800|1,800|1,710|1,710| ||``|``|``|``| ## **6. Expenditure on charitable activities by fund type** **10** ## **The Habitat First Foundation** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 December 2021** ## **7. Expenditure on charitable activities by activity type** |||**Total funds**|Total fund| |---|---|---|---| ||Support costs|**2021**|2020| ||£|**£**|£| |Grants|–|–|510| |Governance costs|1,800|1,800|1,200| ||``|``|``| ||1,800|1,800|1,710| ||``|``|``| |**Analysis of support costs**|||| |||**Total 2021**|Total 2020| |||**£**|£| |Finance costs||–|510| |||``|``| |**Independent examination fees**|||| |||**2021**|2020| |||**£**|£| |Fees payable to the independent examiner for:|||| |Independent examination of the financial statements||1,800|1,200| |||``|``| ## **8. Analysis of support costs** ## **9. Independent examination fees** ## **10. Staff costs** The average head count of employees during the year was Nil (2020: Nil). No employee received employee benefits of more than £60,000 during the year (2020: Nil). ## **11. Trustee remuneration and expenses** No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. ## **12. Creditors: amounts falling due within one year** ||**2021**|2020| |---|---|---| ||**£**|£| |Accruals and deferred income|1,800|1,200| |Other creditors|6,200|5,000| ||``|``| ||8,000|6,200| ||``|``| **11** ## **The Habitat First Foundation** ## **Company Limited by Guarantee** ## **Notes to the Financial Statements** _**(continued)**_ ## **Year ended 31 December 2021** ## **13. Analysis of charitable funds** ## **Unrestricted funds** |**Unrestricted funds**||||| |---|---|---|---|---| ||At|||**At**| |1|January 202||**31 December**|| ||1|Income|Expenditure|**2021**| ||£|£|£|£| |General funds|41,885|46,120|(1,800)|86,205| ||``|``|``|``| ||At|||At| |1|January 202||31 December|| ||0|Income|Expenditure|2020| ||£|£|£|£| |General funds|7,115|36,480|(1,710)|41,885| ||``|``|``|``| |**Analysis of net assets between funds**||||| ||||Unrestricted|**Total Funds**| ||||Funds|**2021**| ||||£|**£**| |Current assets|||94,205|94,205| |Creditors less than 1 year|||(8,000)|(8,000)| ||||``|``| |**Net assets**|||86,205|86,205| ||||``|``| ||||Unrestricted|Total Funds| ||||Funds|2020| ||||£|£| |Current assets|||48,085|48,085| |Creditors less than 1 year|||(6,200)|(6,200)| ||||``|``| |**Net assets**|||41,885|41,885| ||||``|``| ## **14. Analysis of net assets between funds** **12**