## **HEARTS AND HELPERS**
**Charity Incorporated Organisation (C.I.O)**
## **Financial Statements**
**For the period ended**
## **29[th] February 2024**
**Registered Charity No: 1183267**
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## **HEARTS AND HELPERS**
Year Ended 29[th] February 2024
## **Principal address:**
The Selby Centre Selby Road London N17 8JL
## **Trustees/Committee Members:**
Lois Anderson Jubedul Miah Mark Hutchings
## **Governing document**
The organisation is operated under the rules of its constitution.
## **Accountant:**
TACTS Accountant Chartered Certified Accountant 61 Fountains Crescent London, N14 6BD
**Bank:** Barclays
2
## **HEARTS AND HELPERS**
## **FINANCIAL ACCOUNTS**
## **FOR YEAR ENDED 29[th] FEBRUARY 2024**
## **CONTENTS**
## **Pages**
- **4-7. Trustees Report**
**8. Accountant’s Report**
**9. Income and Expenditure**
**10. Balance Sheet**
## **11-13. Notes to the Accounts**
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## **HEARTS AND HELPERS**
Year Ended 29[th] February 2024
## **Annual Report**
The committee are pleased to present the financial report for the period ended 29[th] February 2024, the first accounting period of the Charitable Incorporated Organisation.
## **Structure, Governance and management**
Hearts and Helpers is a charitable Incorporated Organisation (CIO), registered with the Charity Commission and governed by its constitution, dated 07[th] May 2019.
If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
The affairs of the charity are managed on a day-to-day basis by the trustees, who may exercise all the powers of the CIO.
The trustees of served during the year are shown on page 2 of this report.
## **Appointment of Trustees**
In accordance with the terms of the constitution, there must be at least three charity trustees. If the number falls below the minimum, the remaining trustees can act only to call a meeting of the trustees or appoint a new trustee.
The charity trustees may not appoint any charity trustee if as a result the number of charity trustees would exceed the maximum.
Each new trustee is given a copy of the constitution and the latest trustees’ annual report and accounts, on or before appointment.
## **Charitable Objects**
TO RELIEVE POVERTY, ADVANCE EDUCATION AND PROMOTE AND PROTECT HEALTH FOR THE PUBLIC BENEFIT, IN PARTICULAR TO PROVIDE SUPPORT FOR THE HOMELESS AND THOSE WHO ARE DISPLACED OR DISADVANTAGED DUE TO THEIR SOCIAL OR ECONOMIC CIRCUMSTANCES IN PARTICULAR BUT NOT EXCLUSIVELY BY: 1. PROVIDING BACKPACKS FILLED WITH VARIOUS LIFE CHANGING NECESSITIES; 2. PROVIDING COUNSELLING & RELIEF SERVICES THROUGH THE USE OF MEDIATION AND SPECIFICALLY DESIGNED EDUCATIONAL WORKSHOPS.
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## **Objectives, Activities and Achievements**
## **Main objectives:**
- To support people, within our community, affected by homelessness and insecure housing with essential goods and services to create long term stability.
- Address the negative impact of poverty and homelessness on the mental health and wellbeing of our beneficiaries by offering workshops, community activities, and safe spaces for them to access.
- Provide rough sleepers with essential goods and services to ease day to day struggles.
- Provide former rough sleepers and those on a low income, with support when transitioning to a new accommodation.
- Ensure the long-term infrastructure and funding of our charity, so that we can support our beneficiary’s long term.
## **Main activities:**
To fulfil our objectives, we conducted the following:
- Improved and finished our wellbeing allotment spaces.
- Provided workshops designed to boost mental health and wellbeing.
- Provided rough sleepers with day-to-day essentials including coats, hygiene kits and footwear.
- Supported former rough sleepers to transition into longer term accommodation by providing white goods, furniture, soft furnishes and home starter kits.
- Supported households in temporary accommodation (hotels, hostels etc,) with everyday needs (food, hygiene kits and relief in our allotment spaces.)
- Supported low-income households, once housed, by providing white goods, furniture, soft furnishes and home starter kits.
- Provided a consistent food parcel delivery service for low-income households.
- Provided holiday support for low-income households and families fleeing domestic abuse over the Christmas period.
- Engaged in support with Enfield Voluntary action to improve our case for support and funding.
- Community drives to support our rough sleeper outreach work.
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## _**Achievements and performance, including reporting on its public benefit:**_
- 156 clients supported within workshops to support wellbeing and mental health.
- 220+ rough sleepers provided with day-to-day essentials, footwear, coats, and health care packages.
- 4 volunteer led trainer drives to collect footwear and essentials for rough sleepers. This included 180 coats, and 263 pairs of trainers.
- 5 rough sleepers assisted with an application for supported accommodation.
- Supported 27, low income, recently rehoused households with whitegoods and furniture.
- 150+ households supported with consistent food parcels throughout the year.
- 430kg of vegetables grown and provided to low-income households.
- Applied for 18 funding bids to secure the charities long term stability.
- Recognised with a 'Community Partners' Award from Oasis Hub Hadley.
## **Reserves policy and going concern**
The Board has assessed the charity’s requirements for reserves in the light of the main risks to the organisation. As a result, the Board has approved a policy whereby the unrestricted funds not committed, should be held in reserve and maintained at a level which ensures that Hearts and Helper’s core activity could continue during a period of unforeseen difficulty. The target reserve amount represents at least 6 months’ (26 weeks) expenditure and will be reviewed annually.
## **Risk management**
The trustees have a risk management strategy which comprises:
● an annual review of the principal risks and uncertainties that the charity undertakes.
● the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
● the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
The Trustees constantly review risks relevant to the charity. Any risks identified are reported to the Trustees and decisions made on how to minimise risk.
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## **Trustees and their responsibilities**
Charity trustees are the people who serve on the governing body of a charity. They may be known as trustees, directors, board members, governors or committee members. The principles and main duties are the same in all cases.
Trustees have, and must accept, ultimate responsibility for directing the affairs of a charity, and ensuring that it is solvent, well-run, and meeting the needs for which it has been set up.
## **Our volunteers**
Hearts and Helpers is very involved in the community and relies on voluntary help. Around 20 volunteers assisted with our on-going activities. We wish to thank our volunteers for their loyal support and contribution.
## **Future plan**
The charity is planning to recruit more trustees to strengthen governance. We have been successful with the Big Lottery Reaching Community grant and we are looking forward to successfully deliver on this project activities for the forthcoming years. We will continue to apply for funding to sustain the organisation activities.
Signed on behalf of all members,
J Miah (Trustee) Date: 26/11/2024
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## **ACCOUNTANT’S REPORT**
## **Hearts and Helpers for the year ended 29[th] February 2024**
In accordance with your instructions, we have compiled these accounts in order to fulfil your statutory responsibilities from the accounting records, information and explanation supplied to us.
It is your duty to ensure that Hearts and Helpers has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Hearts and Helpers.
We have not been instructed to carry out an audit/independent examination or a review of the financial statements of Hearts and Helpers due the in income below the threshold of £25,000. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
TACTS Accountant Chartered Certified Accountant 61 Fountains Crescent London N14 6BD
Date: 26/11/2024
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||**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|**HEARTS AND HELPERS**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||**INCOME AND EXPENDITURE FOR**||**THE PERIOD ENDING 29TH FEBRUARY 2024**||||||||||
||**INCOMING RESOURCES**
Donation
**Income from Charitable Activities:**
The National Lottery Community Fund
Enfield Neighbourhood Fund
**TOTAL INCOMING RESOURCES**
**RESOUCES EXPENDED**
**Charitable Expenditure**
Sessional Workers & Staff Cost
Community Activities and Events
Storage & Allotments Costs
Office Rent and Venue Hire
Utilities
Office and Admin Expenses
Professional Fees
Publicity and Advertisement
Volunteer Expenses
Travel and Transport
Insurance
Renovation and Maintenance
Depreciation
**TOTAL RESOUCES EXPENDED**
**Net Incoming/Outgoing resources**
**FUNDS BROUGHT FORWARD**
**FUNDS CARRIED FORWARD**||**Unrestricted**
**Funds**
**£**
21
-
-
**21**
5,009
-
-
92
221
869
1,530
-
295
844
-
-
416
**9,276**
(9,255)|||**Restricted**
**Funds**
**£**
-
10,000
-
**10,000**
4,500
3,242
2,302
970
-
-
-
231
-
-
945
736
**12,927**
(2,927)|||**Funds**
**2024**
**£**
**21**
**10,000**
**-**||**Funds**
**2023**
**£**
10,021
-
15,776||
||||||||||||||
|||||||||||**10,021**||**25,797**|
|||||||||||**9,509**
**3,242**
**2,302**
**1,062**
**221**
**869**
**1,530**
**231**
**295**
**844**
**945**
**736**
**416**||16,121
6,213
15,666
5,681
587
8
1,744
78
-
2,118
459
3,546
416|
|||||||||||**22,203**||**52,637**|
||||||||||||||
|||||||||**(12,182) **(26,840)|||||
||||||||||||||
|||||**11,007**|||**2,927**|**13,934**
**40,774**|||||
||||||||||||||
|||||**1,752**|||**-**|**1,752**
**13,934**|||||
There were no recognised gains or losses for the above period other than those shown in the income and expenditure for the above financial year. All incoming resources and resources expended are derived from continuing activities.
(The notes attached form part of these financial statements)
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## **HEARTS AND HELPERS BALANCE SHEET AS AT 29TH FEBRUARY 2024**
|Notes
**Fixed Assets**
Tangible assets
(6)
**Current Assets:**
Debtor
(10)
Cash at Bank and In Hand
**Current Liabilities:**
**Creditors:**
Amount falling due within one year
(9)
**Net Currents Assets**
**Net Assets**
**As Represented By**
Unrestricted Fund
Restricted Fund
(8)
**Total Funds**||**2024**
**£**
999
1,380
2,113
2,740
**753**||**2023**
**£**
1,415
-
13,410
891|
|---|---|---|---|---|
|||||**12,519**|
||||||
|||**1,752**||**13,934**|
|||1,752
-||11,007
2,927|
|||**1,752**||**13,934**|
(The notes form part of this account)
The accounts were approved by the Committee Members on 26/11/2024 and signed on their behalf by: -
……………………….........
(Trustee) J Miah
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## **HEARTS AND HELPERS Year Ended 29[th ] February 2024**
## **Notes to the accounts**
## **ACCOUNTING POLICIES**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## a) Basis of preparation
The financial statements have been 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Hearts and Helpers meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
## b) Preparation of the accounts on a going concern basis
The Charity trustees are of the view that measures taken subsequent to the year-end to reduce operating costs and successful in applying for continuation funding have secured the immediate future of the Charity for the next 12 to 18 months and that on this basis the charity is a going concern.
## **1. Cash Flow Statement**
The trustees have taken advantage of the exemption in Financial Reporting Standard No 1 (revised) from including a cash flow statement in the financial statements on the grounds that the charity is small.
## **2. Incoming Resources**
Income is recognised in the period to which it relates, unless specified otherwise by the funder. Project funding is, in general, repayable if not expended within the relevant project. Such income is only recognised to the extent that it ceases to be repayable. The income is accounted for on a receivable basis.
## **3. Resource Expended**
Resources expended are included in the Statement of Financial Activities inclusive of VAT which cannot be recovered. Direct charitable expenditure include includes the direct costs of the activities. Where such costs relate to more than one functional cost category, they have been apportioned in line with the direct costs of the relevant service.
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## **Notes to the accounts (Cont.)**
## **4. Support Cost**
Allocation of support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, and governance costs which support the Charity activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 11.
## **5. Taxation**
Hearts and Helpers is a registered charity and is not liable for corporation tax on its income under section 505 of the Income and Corporation Taxes Act 1988 to the extent that it is applied to its charitable activities.
## **6** . **Tangible fixed assets**
Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided to write off the cost, of all fixed assets over their expected useful life as follows: -
Fixtures and Fittings - 20 % straight line Plant and Machinery - 20 % straight line
|**Cost**
At Cost
Carried Forward
**Depreciation**
Brought forward
Charge for the year
Carried Forward
**Net Book Value**
As At February 2024
As At February 2023|Fixtures and
Fittings
£
425
425
170
85
255
170
255|Plant &
Machinery
£
1,655
1,655
495
331
826
829
1,160|**Total**|
|---|---|---|---|
||||**£**
**2,080**|
||||**2,080**|
||||**665**
**416**|
||||**1,081 **|
||||**999**|
||||**1,415**|
## **7. Reserves**
The Unrestricted Funds are expendable at the discretion of the trustees in furtherance of the objects of the charity.
|At 1st March 2023
Surplus/(Deficit) for the year
Transfers between funds
At 29th February 2024|**Unrestricted**
**funds reserve**
**£**
11,007
(9,255)
-
**1,752**|**Restricted funds**
**reserve**
**Total**
**£**
**£**
2,927
**13,934**
(2,927)
**(12,182)**
-
**-**|
|---|---|---|
|||**-**
**1,752**|
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## **HEARTS AND HELPERS Year Ended 29[th ] February 2024**
## **Notes to the accounts (Cont.)**
## **8. Analysis of Restricted Fund**
|**.Analysis of Restricted Fund**||
|---|---|
|Enfield Neighbourhood Fund
National Lottery Com. Fund|**Balance 1st**
**March 2023**
**Incoming**
**resources**
**Outgoing**
**resources**
**Balance 29th**
**Feb 2024**
**£**
**£**
**£**
**£**
2,927
-
2,927
**-**
-
10,000
10,000
**-**|
||**2,927**
**10,000**
**12,927**
**-**|
## **Purpose of Restricted Fund:**
To support mental health and wellbeing and tackling cost of living crisis.
## **9. CREDITORS (ACCRUALS)**
|Professional Fees
Other Creditors
**0. Debtors**
Other debtors|**2024**
**£**
**785**
**1,955**
**2,740**
**2024**
**£**
**1,380**|**2023**
**£**
-
891|
|---|---|---|
|||891|
|||**2023**
**£**|
|||-|
## **10. Debtors**
## **11. Support and Governance cost**
|Office and Administration Cost
Utilities
Professional fees
Insurance
Renovation and Maintenance
Depreciation|**General**
**Support**
**£**
869
221
745
-
736
416
2,987|**Governance**
**£**
-
-
785
945
-
-
1,730|**Total**
**£**
**869**
**221**
**1,530**
**945**
**736**
**416**|
|---|---|---|---|
||||**4,717**|
## **12. Staff and Sessional Workers**
Total staff and sessional workers costs were £9,509 in this financial year.
There were 1 part-time employee on payroll and 5 self-employed workers.
Trustees are not remunerated.
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