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2022-03-31-accounts

The Honeypot Children’s Charity Annual Report & Accounts 2022

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Contents

The Honeypot Children’s Charity

Charitable Incorporated Organisation No: 1184132

Activities & Objectives 3
A Message from our Chief Executive 4
Service Delivery & Output 6
Honeypot Case Study 10
Service Delivery Impact 12
Your Support over the Past Year 16
Fundraising & Communications 17
Future Developments 20
Financial Review 22
Statement of Trustees’ Responsibilities 23
Independent Auditor’s Report 25
Financial Statements 28

26-28 Hammersmith Grove London W6 7BA

www.honeypot.org.uk

Trustees

Laurie Oppenheim (Chair) Mary Davis Hugh Whitaker Verne Grinstead Michael Steele (resigned 22 June 2022) Natalie Rebeiz Michael Jolliffe (resigned 20 September 2021) Tom Putter Andrew Chalkley Oliver Harrison (appointed 17 August 2022)

Leadership Team

Simmi Woodwal (Chief Executive) Nagindra Chungh (Director of Operations) Phil Gellhorn (Director of Finance) Anthony Cummings (Director of Income and Communications)

Jenny Ray (Director of Strategic Development) Elaine Hiskett (Personnel Manager)

Auditors

Azets Audit Services Secure House Lulworth Close Chandlers Ford Southampton SO53 3TL

Solicitors

Simkins LLP Lynton House 7-12 Tavistock Square London WC1H 9LT

Bankers

Barclays Bank 1 High Street Bracknell RG12 1DR

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Activities & Objectives

Our organisation

Honeypot is the only children’s charity in the UK which provides consistent and long-term support for young carers, aged 5 to 12 years old.

Depending on the age they first come to us, we support children for up to eight years. We aim to support 3,000 young carers annually with a tailored basket of Wrap-Round services that meet a wide range of needs. The number of young carers coming to Honeypot is rising.

Young carers make many sacrifices in looking after a sick or disabled family member, for 30 hours or more in a typical week. Honeypot ensures that young carers do not lose out on their chance of a happy, fulfilling childhood, and we aim to guide them onto a positive pathway so they can build brighter futures.

We achieve these goals by focusing on four key areas of support:

Residential Respite Breaks

These stress busting breaks have been at the heart of Honeypot for more than 25 years and form the backbone of our organisation.

Social and Emotional Active Learning (SEAL) Prior to the SEAL break there is a six-week period where Honeypot staff consult with the school and the parents to understand the challenges the child faces. The insights and information obtained enable Honeypot to focus and address individual children’s challenges over an intensive four-day residential break. The children receive 30 hours of active learning experiences with the aim of building resilience and self-belief that they can succeed in education.

Our objectives

Honeypot’s overarching objective is to alleviate the detrimental impact on children as young as five who are involved in caring for a sick family member.

We aim to:

Our long-term objectives are to deliver greater breadth and depth of support for young carers. Greater breadth simply means supporting greater numbers of young carers through expanding all our services, such as opening more Honeypot Houses. Greater depth of support means meeting more of the needs of young carers with greater impact, both for the short and longer term.

Digital and Face to Face Outreach

Young carers are often lonely, isolated, and socially excluded. We provide them with after-school and weekend clubs online, as well as special Memory Making Days where deprived inner-city children experience the joys of visiting a farm or the beach.

Wellbeing Services

As all the children we support are referred to Honeypot by agents within the child welfare network, we support young carers with deep-rooted needs. We ensure, via a range of wellbeing interventions, such as our Wellbeing Grants, that the children can access essential life items they lack, such as a new bed or new school clothes.

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A Message from our Chief Executive

A year of substantial growth and development

Reflecting over the past year fills me with much pride and admiration for Honeypot’s team achievements. I pay tribute to our Children’s Services team and to our generous financial supporters. I thank our hard working and dedicated office and fundraising teams, and pay special tribute to our Trustees, who selflessly gave of their skills, talents, and resources.

Growth in our services

Honeypot’s operations staff achieved a greater breadth and depth of support for young carers over the past year by focusing on developing four key areas.

The team drove Residential Respite Breaks in the direction of full capacity occupancy at both of our houses, leaving behind the trauma of closed houses during Covid.

They laid the groundwork for upscaling SEAL, our Residential Respite Breaks that build a child’s resilience and self-belief that they can succeed in education. In 2022-23, SEAL will be delivered almost weekly during term time at both our houses.

The team innovatively engaged socially isolated young carers, creating after-school clubs online running in batches of 18 weeks, to give the children the experience of being part of a social group with the aim of building peer support.

We also increased our Memory Making Days and weekend Swarm sessions to give the children the human peer group interaction they otherwise lack.

Without the most essential needs in life of a child being met, there can be little progress in their development. Honeypot’s Wellbeing Service distributed Wellbeing Grants to many disadvantaged young carers, giving them new school clothes, a fresh clean bed, and other essential items they desperately needed.

I sincerely thank all our operating staff for their sterling efforts in achieving so much more for young carers.

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Growth in our income

I am in awe of the generosity of our financial supporters, who donated over £2.6million in the past year. This is by far the largest sum ever received by Honeypot!

Across the board supporters excelled. We had more corporate Charity of the Year partnerships than ever, for which I thank each and every one. I pay special mention to The Body Shop, who ran a national Christmas fundraising campaign for Honeypot across all its branches, raising an amazing six-figure sum. Thanks also go to our longstanding corporate supporters, including Paperchase and St George and the Berkeley Foundation.

Our steadfast and generous Trusts and Foundations supported Honeypot magnificently, as did new ones. Thank you all. I especially thank the Betty Messenger Charitable Foundation, The Girdlers’ Company, The Tresanton Trust and the POM Trust, who have been supporting Honeypot for many years.

Many community groups supported Honeypot. I pay tribute especially to Walhampton School, the community groups of Hampshire and the New Forest, and the London Freemasons Charity, who donated most generously.

Individual giving broke all records, with over a thousand donors contributing especially to our £1million matched funding appeal and our Summer Big Give. Thanks to the Richard Porter Family Foundation for providing a matching donation in the form of the purchase of a Scottish property on behalf of The Honeypot Children’s Charity. Thanks also to The Childhood Trust for their highly generous support, once again providing matched funding for the Summer Big Give.

Our biennial Honeypot Party raised a large six-figure sum. I wish especially to thank Mary Davis and Natalie Rebeiz and our other Trustees, who expended many hours to deliver a very special 25th Anniversary Party. Many thanks to the generous party sponsors: Simplify, St George, Selwoods, Royal Bank of Canada, The Richard Porter Family Foundation.

I would also like to express my thanks to our celebrity ambassadors, in particular Gabriel Martinelli of Arsenal Football Club, who scored magnificently, both for Arsenal and Honeypot!

The year ahead

The year ahead is planned as a year of building. I can confidently relate that our third house will open in the coming year, in Scotland. This will enable Honeypot to support a further 1,000 young carers each year, when at full capacity occupancy.

We will open an all-weather heated swimming pool at our house in Hampshire. The children who come for a Residential Respite Break love the experience of having their own pool, where many learn to swim, and everyone has great fun!

We will see our Residential Respite Breaks run at full capacity throughout the year and our SEAL breaks run close to weekly during term-time.

Our Wellbeing Service will continue to expand, providing many disadvantaged children with essential life items they lack. We have aspirational plans to increase the range of ways we promote the wellbeing of young carers.

The year ahead will be one of building greater breadth and greater depth of support for young carers. Greater breadth simply means many more will be supported by us, and greater depth means the extent to which we positively impact on the challenges and needs of young carers will be intensified in the coming year.

‘Nothing is as powerful as an idea whose time has come.’ All signs indicate that Honeypot’s time has come. Please continue to be part of the Honeypot success story, for the benefit of many thousands of disadvantaged young carers.

Simmi Woodwal Chief Executive

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Service Delivery & Output

Steering Honeypot from one uniquely challenging year, through another challenging year

The year to 31 March 2021, a year of national Covid lockdown, was immensely challenging both for young carers and for the Honeypot charity. While we developed innovative remote, online support services during lockdown, it was always anticipated that the following year would also raise many challenges.

The past year to 31 March 2022 proved to be hugely difficult for Honeypot to reinstitute our Residential Respite Breaks. We faced the hurdle of reconnecting with our network of referring organisations, with whom we had not worked for over a year. We had lost staff during Covid, which necessitated a large-scale recruitment effort.

We worked hard to rise from no children attending respite, to rebuilding our services and returning to full capacity occupancy of our respite houses. We sought simultaneously to maintain excellent digital and remote support services. At the beginning of the new year, we also committed to pilot and develop services that would redress the deep-rooted negative impact Covid had on the wellbeing of young carers.

The challenge of recommencing our Residential Respite Breaks was far less daunting than it could have been. Honeypot planned for opening while Lockdown was still in effect, thereby enabling us to recommence our services efficiently and effectively.

We recommenced Residential Respite Breaks

Honeypot employed health and safety experts to help put in place provisions to ensure children would return safely to Honeypot for residential stays. We recruited a substantial number of staff to fill the vacancies we had at the end of Covid. We reconnected with our network of referring organisations who, themselves, had been closed for over a year.

As a result of all these efforts, Honeypot was functionally ready and delighted to welcome children back for breaks from August 2021.

Between August 2021 and March 2022, we delivered 56 breaks and welcomed 437 children to the houses. We rebuilt capacity, putting us in the position to run 124 breaks for 1,488 young carers over the coming year, from 1 April 2022.

Our respite breaks are our core service. We give children time away from their usual caring routines and an opportunity to relax and play with other children with similar shared experiences.

Through the breaks, children were given the opportunity to develop their social skills, to make friends and take part in activities to develop their key life skills that will support them beyond their caring duties. Additionally, the break gives children a sense of belonging and a chance to develop lifelong connections through friendships.

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We piloted new Social and Emotional Active Learning breaks (SEAL)

Young carers underachieve in education. They score nine GCSE grades less than the national average. While the detrimental effect of Covid lockdown on children’s education has been a cause for national concern, the detrimental effect on young carers’ education was a cause for even greater worry.

Honeypot launched a new pilot residential break, modelled on our SEAL programme, at Honeypot House Hampshire in September 2021. SEAL aims to build young carers’ confidence, resilience, and self-belief that they can succeed in education.

We have tracked, assessed, and measured the positive impact of our pilot SEAL programme over six residential breaks run in 2021-22. The evidence for the effectiveness of SEAL is compelling. We will aim in 2022-23 to upscale SEAL to run over most weeks during term-time.

The Social and Emotional Active Learning programme is separate from our Residential Respite Breaks and is run in partnership with schools. The SEAL programme has been an enormous achievement and following each break we received incredibly positive feedback.

Honeypot introduced the SEAL programme to target specific learning needs, and to offer more personalised time in a group setting for children who struggle in larger groups at school. In small groups we can focus on the needs of each individual child, and help them to develop their skills and confidence so that they can benefit from, and succeed in, education.

The key to this is enabling children who participate in SEAL to recognise the skill set they already possess and to be confident to use and develop these skills.

The SEAL programme extends over six weeks, starting with two weekly sessions in schools, followed by a four-day residential break and subsequent group online sessions. It concludes with a session held in school.

The programme was developed over months, making it more bespoke for a child’s individual needs. SEAL encourages and enables them to self-regulate and become more self-aware of their emotions and wellbeing.

Children develop the confidence to share their ideas in groups and they learn to respond positively when challenged and to think more deeply. We inspire personal growth through reflection, collaboration, and communication. Throughout the programme, children explore their goals and aspirations for the future.

The programme combines the playful elements of our respite breaks with a stronger focus on educational workshops and group activities to tackle:

In October 2021 we were able to launch the programme in Wales, and it has been a huge success. Across the houses we have delivered six breaks for 43 children.

We built the capacity over the past year to be able to run 40 SEAL breaks for 480 young carers in the year commencing 1 April 2022, with a view to expanding further in future years.

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Honeypot continued to develop and deliver online workshops and face to face Memory Making Days

When Covid first impacted majorly in 2020 by curtailing Honeypot’s face to face support services and shutting our houses down, we could have frozen into inactivity. Rather, we immediately and urgently launched a range of new online digital and remote support services, such as our ‘respite breaks’ online and our Hive interactive website.

These services proved to be so popular and effective in bringing relief from the stress and anxiety children experience when caring for a sick or disabled adult, that we have made them core services beyond Covid.

Over the past year we have run a range of digital outreach services as part of our enhanced package of support we offer young carers, called our Wrap-Round services. We sought to combine our Residential Respite Breaks with online outreach sessions and Memory Making Days and provide Wellbeing Grants to young carers.

By providing a range of services we were able to achieve an incomparably greater positive depth of impact on the multiple needs of young carers.

Over the past year, Honeypot offered a variety of workshops that were delivered after school hours and at weekends. These workshops helped children to make new friends across the country. Workshops built their character, confidence, and social skills. The workshops provided a range of activities that were engaging and fun, and enabled children to relax and reduce their anxieties by creating happy memories.

These workshops supported children socially and emotionally, enabling them to further develop real life skills which will support them in the future. The workshops helped children to develop better relationships with families and peers. They raised children’s goals and aspirations in life, and fostered a positive and confident attitude to the outside world. We offered 2,685 places and 211 sessions for children to take advantage of and join in the activities.

Honeypot supports many young carers who live in inner city areas. These are mainly children who have never been to the seaside, or beach, or visited the countryside. Honeypot offers these children such experiences in the form of Memory Making Days.

These days have been a success story and children enjoy every precious moment and become engrossed in the day’s activities, whether that be at the house, at a theme park or a day out exploring.

It is an opportunity for children to make new friends and take a break from their everyday caring responsibilities, for them to just be children. It gives young carers the opportunity to simply relax and enjoy themselves before going back to their life of caring.

We provided Wellbeing Grants to disadvantaged young carers

During lockdown we launched the Wellbeing Fund as part of our Wrap-Round services to support families with whom we work who are financially disadvantaged, often because of illness or disability.

Inequality of opportunity to access basic resources not only has practical implications but can also impact on the self-esteem and confidence of a young carer. The fund is a vital part of our services to help Honeypot children access a wide range of resources so that they can enjoy some of the essential items that their peers may take for granted.

In this financial year we received 128 applications (46 boys, 82 girls) with a wide range of requests as follows:

Technology items 35 27%
Beds/mattresses 16 13%
White goods 10 8%
Extra-curricular clubs/fees 19 15%
Days out 14 11%
Bicycles 4 3%
Musical instruments 2 1%
Other_(furniture, school trips, cameras,_ 28 22%
bus passes, art materials, school uniform)

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2,685
workshop places
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437 young carers had residential respite breaks

----- Start of picture text -----
respite
56 breaks
6 SEALbreaks
----- End of picture text -----

We vet each application carefully to ensure the need is genuine and not available through another source. We do not give cash grants. Successful applications lead to an approved product or service being purchased by Honeypot and supplied to the family directly. Wellbeing Grants supported families to overcome their stress and anxieties by meeting the children’s essential needs.

Over the past year we built the infrastructure and capacity to upscale our grants programme so that from 1 April 2022 we can provide many hundreds more Wellbeing Grants to disadvantaged young carers.

Conclusion

The pandemic has presented us with significant challenges but has also given us the opportunity to grow and strengthen our services. We will continue to enhance our services and help children to achieve their goals and aspirations by providing them with resources and skills that will help them to succeed in their future.

We try to ensure children continue to self-reflect positively and recognise their self-worth and individuality. We foster an awareness in young carers of just how special they and their caring role are. We help them to see how they are appreciated by organisations that are part of the social work and care system. We will continue to provide innovative opportunities for children to discuss and share their thoughts and ideas, which are listened to and acted on by Honeypot’s skilled Children’s Support Leaders.

We have had so many positive messages from families about how a Wellbeing Fund item has changed the life of individuals. We ensure all our services are designed to:

We have rebuilt Honeypot’s capacity to support many more young carers in the coming year(s), by recommencing core services and instituting new ones.

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Katie’s story...

Katie was referred to Honeypot for a SEAL break by her primary school. The children referred often lack confidence and struggle with elements of social interaction, however on arrival it was clear to staff that Katie found things more difficult than most.

On her first evening she sat in the corner of the dining table gripping the edges of an empty plate, unable to bring herself to engage with the rest of the children chatting around her. She made no eye contact and, despite the best efforts of the team, wouldn’t talk or come to the kitchen for her dinner. She was overwhelmed, the team even considered that a return home may be best.

SEAL activities are designed to support social engagement, build confidence, and allow children to push themselves. The activities enabled Katie to begin to engage with the group, and slowly she began to grow in confidence. When playing outdoors, Katie explained she could not ride a bike as she felt her neighbourhood was too scary, but she would like to try here.

Over the next two days Katie made great progress. Her determination in learning to ride a bike and SEAL activities gave her more confidence to speak to the other children. She even joined in the conversation about how she would like to improve her hometown. Most children reasonably stated a new shop or park, but Katie wanted cars reduced to cut air pollution.

On a few occasions, Katie chose to speak with staff about things that worried her – most especially her fears for a parent who was seriously and chronically ill. She explained how she has always known her home address to tell the ambulance where to come when she calls them, or how she helps her parent with medicines and other tasks.

It was clear Katie was a ‘hidden’ young carer and that her caring responsibilities weighed very heavily on her. The Honeypot staff spoke to the family about her progress, and they explained her caring responsibilities.

By the time Katie finished her SEAL break she was chatty, smiley, much more confident in the group and a pro on the bike!

We received this response from Katie’s school a few weeks later...

The children returned to school full of stories and happy memories. It was lovely to see the bonds they had created with children they did not previously know. Katie presented as a completely different child, approaching me for a hug and initiating conversation, which is very unlike her usual quiet self… she has really grown in confidence in such a short time!

Katie later on returned for a respite break, she arrived full of joy to tell the SEAL staff all about the bike she got for Christmas! She has built upon all the skills she learnt on her SEAL break, playing and chatting with a completely new group of children.

While on respite she also discovered her love of drawing. The wellbeing fund awarded Katie arts and crafts materials so she can continue to pursue her passions at home, giving her an outlet away from her responsibilities.

The complimentary nature of our SEAL, respite and wellbeing fund shows the importance of ongoing support for young carers. Katie is very intelligent and has a great understanding of the wider world. She loves science and wants to be an astrophysicist or cosmologist when she is older.

Drawings by Katie

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Service Delivery Impact

The difference we make

Due to the challenges of caring for a sick or disabled family member, young carers, at a young age, manifest high levels of stress and anxiety, have low self-esteem, underachieve in education, and have poor social skills.

Honeypot puts great emphasis on assessing, measuring, and analysing the degree to which our services achieve a positive impact on a young carer’s life. We employ a wide range of measures involving referring organisations, parents, and the children themselves.

Our aim is to create and deliver support services that are built on an evidence-base of the high positive impact these services have in meeting young carers’ needs. How we develop and deliver our services at Honeypot is informed by surveys and observations of, and feedback from, young carers.

We also employ the Stirling Children’s Wellbeing Scale, a statistically validated tool that is widely recognised as accurately measuring a child’s subjective and objective psychological wellbeing.

Honeypot has a robust impact measurement system in place that ensures that our services are constantly evolving to meet the demands of our children.

Every area of Honeypot’s service delivery has been shaped by the opinions of the children we care for, and all our staff possess a reflective attitude that is sensitive to the views and wishes of those children.

What did you think about the break?

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Amazing
25%
Good
Not so good
Don’t know
75%
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How did you feel after the break?

----- Start of picture text -----
8% Much happier,
less worried
25% A bit happier,
less worried
About the same
as before
Less happy,
67% more worried
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What children say about our respite breaks

Thank you for helping me to be my true self over my stay at Honeypot.

It was lots of fun.

Going to the beach was really fun.

Honeypot is the best!

Well, I love that everyone is kind.

First I was worried about my Mum and Dad and now I’m less worried.

You guys are really, really, really, really, really, really amazing!

Did you make happy memories?

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10%
All of the time
Most of the
time
Some of the
time
Not at all
90%
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Social and Emotional Active Learning (SEAL)

Stirling Children’s Wellbeing Scale - survey outcomes from a SEAL break - School A:

Feedback from a school SEAL break

What positive outcomes, if any, do you believe the SEAL break had for the children?

All children on the break improved their emotional wellbeing and eight children improved their psychological wellbeing.

Average scores for emotional wellbeing:

Average scores for psychological wellbeing:

Average scores for whole group wellbeing:

Having the pre and post break assessment sessions has given the SEAL leader an understanding of the children’s individual and group identity, learning about how they interact with peers, enabling the leader to refine the activities to meet the needs of the children.

The programme is designed to give children the opportunity to socialise with peers and build their skills. The steps children make during the programme to develop their social and psychological wellbeing is reflected when they are back in school, in making the right choices and taking ownership of their actions.

Have you noticed any changes in children since returning to school? If so, please give us as much feedback as possible.

What could we do to improve the SEAL break further?

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Emotional wellbeing Psychological wellbeing
School B School B
Pre-break Post-break Pre-break Post-break
30 30
25 25
20 20
15 15
10 10
5 5
0 0
1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10
Individual child Individual child
Score Score
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Wellbeing Fund

Examples and feedback from some of our Honeypot families who received items from the Wellbeing Fund:

Ellie, aged 8, was able to enjoy and benefit from more of our Wrap-Round services in the form of our digital workshops, after school and at weekends, through the purchase of a tablet. Upon receipt her Mum stated Ellie “was over the moon. ”

Online services

We are committed to providing online support services with a range of after-school and weekend clubs delivered by our expert staff.

Our online sessions have been a huge success with our Honeypot children. They enjoy the variety of activities on offer and there is something for everyone to join in.

One of our Honeypot parents sent us the email below:

Another application received was from a family who, due to shielding during the pandemic, have had to home-school their son. They applied for a grant to enable them to purchase a laptop for him to access online e-learning on offer from the school. We received the following feedback from the parents:

“My daughter has been supported by Honeypot for the last few years and is now 13. We wanted to say a huge thank you for the care and support you have provided to her. The weekly Swarm social groups during the pandemic have been invaluable, I could see and hear her relax and have fun.

“Our package arrived yesterday. We haven’t set it up yet, but all looks to be perfect. Thank you so much and bless you all for this wonderful gift. You are amazing, we are forever in your debt. You really have helped us out so much. Thank you to infinity.”

On her first respite break my daughter met another young carer and they have been firm friends ever since. The three times she has been with you she has come home exhausted, exhilarated and full of stories of fun.”

Quotes from children:

By supporting children with the grants, we are ensuring children’s social and emotional wellbeing is catered for. These grants also give children the chances in life they deserve by having the necessary items they need to support them to succeed in life and their education.

Thank you I enjoyed myself very much

It’s the best club out of clubs and swimming and tennis

It was awesome I loved it!

Identified positive impacts of Wellbeing Grants

Thank you for being here and supporting me

The parents/guardians of Honeypot children identified the positive impacts the grant would have for their child and family (more than one choice could be selected):

Reduce anxiety/low mood

Enable childhood pursuits

Overcome social isolation/loneliness

Develop a skill/hobby

Facilitate education

Improve educational outcomes Mitigate caring responsibility Obtain household necessities

0 25 50 75

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Conclusion

The services Honeypot delivers are having a positive impact on the young carers and vulnerable children’s wellbeing and are meeting their multiple needs.

Honeypot is committed to providing services that improve children’s ability and confidence to engage and succeed in learning.

We are seeing children positively developing their social skills through an increased sense of self-esteem, belief in their own capabilities, and social confidence.

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Your Support over the Past Year
£1MILLION
APPEAL
REACHED
AND
MATCHED
£1M
£500k
You celebrated with us
You golfed for us
You gave grants to us
You partnered with us
You ran for us
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Fundraising & Communications

Our fundraising strategy

Over the past year the fundraising team has pursued a strategy of developing a greater range of income generating activities to ensure there was not too heavy a reliance on our small number of core supporters. This strategy helped to spread the risk of major donors not renewing their support, and it resulted in an increase in the total income received.

Honeypot’s fundraising department was challenged to generate substantial increases in its voluntary income, to enable our services to meet the burgeoning demand. We sought to avoid greater financial reliance on our existing supporters, who were already giving more generously.

Therefore, we pursued a strategy of developing new income sources as well as presenting a compelling range of giving opportunities to support new services. We also concentrated much more strongly on our donor’s experience of working in partnership with us, to ensure that we provided a satisfying, motivating, and rewarding experience.

We organised our activities around the following strategic priorities.

Strategic priority 1:

Seizing the opportunity to develop areas of income generation with untapped potential.

Honeypot has been supported magnificently for many years by Trusts and Foundations, corporate partners and, every two years, our iconic Honeypot Party. While we have also been supported by individuals making personal donations, especially through our annual Big Give appeals, we made a concerted effort to improve the income generated by our appeals.

We ran an innovative campaign called our ‘£1Million Matched Giving Appeal’. The Richard Porter Family Foundation provided a matching pot for this appeal to double donations.

A large number of Honeypot’s supporters rose to this challenge by collectively donating £427,000. This resulted in a 1,000% increase in the level of giving to our previous best appeal. This result was a game changer.

Our Summer Big Give Appeal also saw a substantial increase on previous years, with a 400% increase in income. We sincerely thank The Childhood Trust and our other generous sponsors who created the matching pot.

For the future:

We will aim to emulate the success of our £1Million Matched Funding Appeal and Summer Big Give Appeal in 2022-23, to enable Honeypot to support greater numbers of young carers with even more far reaching and impactful services.

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Strategic priority 2:

Offering highly fundable and attractive projects.

Every new service or major development at Honeypot presents an opportunity to offer an exciting project to fund. We were able to offer a range of projects for funding which had clear objectives, benefits, and a positive impact on young carers’ lives. Honeypot saw substantial increases in income due to funders wishing to champion our range of innovative projects.

We were deeply grateful to several funders who collaborated with us to create or develop new services and new facilities. Thanks to The Masonic Charitable Foundation who enabled Honeypot to create the London Freemasons Wellbeing Fund, and the thousands of donors who continued to develop the Wellbeing Fund.

Special thanks to the very many supporters in the Hampshire district for generously supporting our project to create an all-weather swimming pool. The establishment of a third Honeypot house in Scotland also proved to be a project that attracted massive interest and support.

For the future:

We aim to continue to offer highly fundable, impactful, and well-defined projects. These projects enable the development of services that we have either piloted and collected the evidence as to their effectiveness or have researched and know there is a strong need.

Strategic priority 3:

Providing high quality supporter engagement and stewardship.

In 2021-22 Honeypot received the largest support from corporate funders ever. Underpinning our success was our ability to offer a highly engaging donor support package to funders which consisted of:

Honeypot succeeded in attracting high-profile corporate partnerships in 2021-22, including a national fundraising and awareness raising campaign with The Body Shop.

For the future:

Honeypot will endeavour to enhance its supporter engagement and stewardship in 2022-23, providing fulfilling and rewarding experiences for all our corporate supporters.

Strategic priority 5:

Putting our case for support to funders interested in funding a wider range of children’s needs.

In 2020 Honeypot launched its Wrap-Round support services, which reflected the much greater range of needs of young carers that Honeypot supported.

Our Wrap-Round services enabled us to apply to a wider range of funders. We were able to appeal not just to funders who wish to donate to support Residential Respite Breaks but also those interested in building the resilience and self-belief of young carers to succeed in education (SEAL), those wishing to meet the basic needs of disadvantaged children for essential items they lack (Wellbeing Fund), those marginalised and socially excluded children who lack a peer network and opportunities to mix with other children (digital and face to face outreach).

For the future:

Strategic priority 4:

Developing new areas of fundraising.

Honeypot aimed to launch a Patrons’ Club in 2020 for high-net-worth individuals, corporates, trusts, and organisations who can commit to at least two years of funding at a substantial level. The Patrons’ Club was conceived to provide Honeypot with secured advanced funding to enable long term planning and development of services. Due to Covid, we were forced to curtail this initiative.

The Patrons’ Club was to be built around networking opportunities, including a Patrons’ annual reception, Patrons’ private tour of Honeypot House, Business Breakfast, delivery of a benefits package to Patrons’ including seats at the biennial Honeypot Party, and the right to use the appellation ‘Company name are proud to be Patrons of the Honeypot Children’s Charity, supporting thousands of disadvantaged young carers’. We aim to re-launch the Patrons’ Club in 2022-23.

Honeypot has never run a concerted legacy campaign asking people to leave a gift in their will to Honeypot. In 2022-23 we aim to deliver a legacy campaign that clearly outlines our case for support.

For the future:

We will seek to develop new areas of fundraising by launching a Patrons’ Club, a legacy campaign, and other fundraising activities that are new to Honeypot.

All our fundraising activities, including Trusts and Foundations, corporate, community and individual giving, will seek to engage with a wider range of funders interested in meeting a diverse range of young carers’ needs by funding our Wrap-Round services.

19

Future Developments

Looking ahead

Honeypot is committed to delivering substantial progress in the breadth and depth of support services we provide young carers on a yearly basis to realise its bold, transformational, long-term strategy. The strategy is encapsulated in two overarching strategic goals:

1) Greater breadth = building a national network of Honeypot Houses so that many more young carers located anywhere in the UK can come to a Honeypot house for a respite break.

2) Greater depth = achieve greater depth of impact of our services by providing a comprehensive and integrated basket of Wrap-Round support services that meet more of the complex, multiple needs of young carers.

New house openings and running all our existing houses at full capacity

Honeypot is on track for opening its third house, in Central West Scotland, in the coming 12 months. We aim to get this house up to full capacity occupancy over the next 24 months, with respite breaks running over most weeks throughout the year.

We will also continue to run our existing houses in the New Forest and Powys, Mid Wales, at full capacity occupancy most weeks throughout the year. At this pace we will be able to provide more than 3,000 young carers annually with our life enhancing respite breaks.

A key target is to continue to survey and investigate suitable new sites for further Honeypot respite houses, which we aim to open in areas of deprivation and greatest need, where there is a viable network of child welfare agents to refer young carers to Honeypot.

Focusing strongly on four key areas and intensifying our support within them

Honeypot pursues a strategy of focusing strongly in four key support services areas, as demonstrated in the diagram below.

----- Start of picture text -----
Residential
Respite
Breaks
Honeypot’s
Social and mission to Digital
emotional deliver integrated and face
active Wrap-Round to face
learning support outreach
services
Wellbeing
----- End of picture text -----

By focusing on four key areas, we aim to be able to develop, expand and intensify our level of service provision within these areas to achieve greater depth and impact of services in meeting the complex multiple needs of young carers. Additionally, we aim to intensify the support we provide within each of these four key areas:

Wellbeing Support Service

We will extend our support beyond our Wellbeing Grants, which provide essential life items deprived young carers lack. We will provide ‘wellbeing through nutrition’ whereby young carers who come to Honeypot for a respite break during school holidays will not only receive tasty nourishing meals throughout their break, but we will also provide healthy nutritious meal ingredients throughout the entire school holiday when free school meals are not available.

20

Social and Emotional Active Learning We will extend our SEAL breaks, which build the resilience and self-belief of young carers so that they can succeed in education. We will offer SEAL breaks as a large-scale service run over most academic weeks in the year.

We intend to expand SEAL into a major support service of Honeypot Residential Respite Breaks for children living in greater London, the South and South Coast, and North Wales, extending towards Greater Manchester and down to Birmingham and the Midlands. We will also extend SEAL, in the medium term, into Scotland serving the central belt of Scotland, where 80% of the population live.

Digital and Face to Face Outreach

In early 2020, Covid compelled Honeypot to embrace digital media for the delivery of services. We learned important lessons which post-Covid lockdown we have built into our core digital services offering. We will continue to deploy and expand our digital footprint to provide after-school and weekend clubs for socially excluded young carers, engaging especially hard to reach children.

Honeypot recognises the opportunity that digital media presents to develop the content of our services in a new, creative, and exciting way, which particularly appeals to the young generation. We have successfully piloted online respite breaks, and social and emotional active learning online, in a format and style suited to this media. We will continue to develop our digital services offering.

Residential Respite Breaks

We will have our third house open for children to come for a respite break in 2022-23. We will run our existing houses at full capacity occupancy for most of the year. We will provide mini respite breaks within remote communities for children who would otherwise miss out on a Honeypot respite break experience.

There are several other key factors underpinning our future plans for developing the breadth and depth of support we provide for young carers. We present here a diagram which summarises these nine key factors that underpin our future developments.

Nine-point strategy for achieving greater breadth of support

National network of Honeypot Greater Houses Recruitment deployment of more of digital referring technology partners

Service Continuous delivery quality through improvement referrers

Partnerships with specialists

Work with Continuous local and development national in 4 strategic Government Research the service areas breadth of need of our beneficiaries

Five-point strategy for achieving greater depth of support

Tailored basket of Wrap-Round services for each child

Create a Partner with feedback loop specialist from research service into service providers development

Measure Intensify and research support in our the positive 4 strategic impact of areas of service our services activity 21

Financial Review

Year ended 31 March 2022

The overall gross income of the charity was £2,617,809 for the 12 months ended 31 March 2022. A very successful year financially speaking with income exceeding expectations against a backdrop of continuing uncertainty and some operational restriction.

The charity was very fortunate to be the beneficiary of a charity of the year relationship with The Body Shop, and to run a very successful Honeypot Party at the end of the financial year.

The gross reported expenditure of the charity was £1,766,145 for the 12 months ended 31 March 2022. Charitable spend in the year remained at 70 pence in the pound (12 months period ended March 2021: 70p).

The charity was finally able to re-instate children’s breaks from August 2021, initially quite carefully, to ensure that all protocols around the safety of children and staff were in place. During the year some breaks were unavoidably cancelled due to Covid and staffing difficulties. Since re-opening for children’s breaks in August 2021, the charity has made strenuous efforts to bring the staff complement up to full capacity and that is now in place.

We are pleased to say that we have made some promising first steps in raising funds for our swimming pool development at our Hampshire New Forest house. We raised during the year £100,924 as a result of our £1m Appeal, and this now takes the total funds raised for this project to £120,924.

Investments

The Trustees remain cautious about investing the charity’s surplus cash and, consequently, spare cash reserves are kept in short notice savings accounts paying 0.75% – 1% interest per annum.

Reserves policy

The Trustees are currently operating a policy whereby the reserves held by The Honeypot Children’s Charity should be a maximum of six months of resources expended. This would enable current activities to continue in the short-term should funding drop significantly, something that cannot be discounted.

Currently, unrestricted general funds stand at £490,075 and operational restricted funds stand at £728,623 giving a total for operating funds of £1,218,698 (period ended March 2021: £1,041,923) or 8.2 months (period ended March 2021: 9 months). It should be emphasised that most of the operational restricted funds will be spent in the new financial year 2022-23.

At the end of the financial year £200,000 was transferred to the Third Honeypot House Fund and £500,000 transferred to the Fourth Honeypot House Fund from the General Fund. It brings the level of designated funds to a new amount of £1,620,807 and is comprised as follows:


is comprised as follows:
Fixed Asset Fund

Third Honeypot House Fund

Fourth Honeypot House Fund

Continuing Operations Fund

 £708,359
£382,448
£500,000
£30,000
£1,620,807

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Statement of Trustees’ Responsibilities

Reference and administrative details

The Trustees present their report along with the financial statements of the charity for the period ending 31 March 2022.

The Honeypot Children’s Charity is registered with the Charity Commission under registration number 1184132 and is governed by a Board of Trustees.

The Trustees are required under the Charities Act 2011 to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year.

In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:

(a) Select suitable accounting policies and apply them consistently.

(b) Make judgments and estimates that are reasonable and prudent.

(c) State whether applicable accounting standards and statements of recommended practice have been followed, subject to any departures disclosed and explained in the financial statements.

(d) Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Trustees are responsible for keeping accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with applicable law and regulations.

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.

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Structure, governance and management

The Honeypot Children’s Charity is constituted as a CIO following its successful incorporation on 27 June 2019.

The Board of Trustees is governed by the constitution, and Trustees are responsible for controlling the management and administration of the charity. The constitution limits the number of Trustees to between three and twelve.

Recruitment and selection of potential Trustees is performed by current Trustees and the Chairman. Once appointed, the Trustee is presented with a New Trustees’ pack that outlines the policies and procedures of the charity and the Trustees’ specific responsibilities. The induction process also includes a visit to one of the Honeypot houses.

Full Board of Trustees meetings are held four times a year to review and agree major areas of policy. The agenda for these meetings also addresses performance, budgets, future strategy, and risk management.

Responsibility for reviewing key areas of activity and policy is delegated to sub-committees that report back to the Trustees’ meetings. The sub-committees operate within specific terms of reference agreed by the Board and include specialist co-opted members as well as Trustees. The day-to-day running of the charity is delegated to the Chief Executive and the Senior Leadership Team.

Income

The Fundraising Sub-Committee is responsible for the review and delivery of the Fundraising activities to ensure that the operations of the charity can be achieved.

Risk policy

We actively review the major risks, which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with a periodic review of fundraising activities and the financial system controls, will provide sufficient resources in the event of adverse conditions.

A risk register is maintained, and we consider carefully the four major areas that the charity deems itself to be at risk: charity governance and direction, financial, adults and children, and premises and property.

Public benefit

Our charitable activities at present support children residing in London, the South East, South West, West Midlands, Wales and North West of England.

When planning activities for the year, the Trustees have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance for the relief of those in need by reason of financial hardship or other disadvantage. We are actively making plans to open a third house in Scotland in the next six to twelve months.

The current Sub-Committees are:

Approval

Policy

The Children’s Services Sub-Committee has responsibility for ensuring that the Honeypot service is achieving the strategy of the Board of Trustees while adhering to current legislation. The committee oversees the management of health and safety and other operational risk factors.

This report was approved by the Trustees on 10 October 2022 and signed on their behalf by:

Finance

The Finance and Administration Sub-Committee is principally concerned with overseeing the financial wellbeing of the charity and its ability to deliver the strategy laid down by the Trustees. The sub-committee is responsible for ensuring that internal and external controls are in place and effective in meeting current legislation, propriety, and risk management.

Laurie Oppenheim Chair of the Board of Trustees

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Independent Auditor’s Report

Opinion

We have audited the financial statements of The Honeypot Children’s Charity (the ‘charity’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and notes to the financial statements, including significant accounting policies.

The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report.

We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

26

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.

This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, misrepresentation, or the override of internal control.

Use of our report

This report is made solely to the charity’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an auditor’s report and for no other purpose.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Azets Audit Services

Chartered Accountants Statutory Auditor Secure House Lulworth Close Chandlers Ford Southampton SO53 3TL

Date:

Azets Audit Services is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

----- Start of picture text -----
27
----- End of picture text -----

Financial Statements

Statement of Financial Activities

----- Start of picture text -----
Unrestricted Restricted
31 Mar 2022 31 Mar 2021
Funds Funds
Notes £ £ £ £
Income
Donations and legacies 2 1,496,238 667,729 2,163,967 1,518,523
Other trading activities 3 446,134 - 446,134 237,160
Income from investments 2 3,708 - 3,708 3,044
Income from charitable activities 2 4,000 - 4,000 -
Government grants: Furlough scheme - - - 114,795
Other income - - - 583
Total income and endowments 1,950,080 667,729 2,617,809 1,874,105
Expenditure
Expenditure on raising funds 3 526,508 - 526,508 421,460
Expenditure on charitable activities 4 551,317 688,321 1,239,637 1,024,619
Total expenditure 1,077,825 688,321 1,766,145 1,446,079
Other recognised gains / losses
Profit / (loss) on investment assets 9 - - - 15,634
Net movement in funds 872,255 (20,591) 851,664 443,660
Fund balances brought forward at 1 April 2021 1,238,626 1,535,656 2,774,282 2,330,622
Fund balances carried forward at 31 March 2022 2,110,881 1,515,064 3,625,946 2,774,282
----- End of picture text -----

All income and expenditure relates to continuing activities.

There were no recognised gains or losses for 2022 other than those included in the statement of financial activities.

28

Balance Sheet

----- Start of picture text -----
31 Mar 2022 31 Mar 2021
Notes £ £
Fixed assets
Tangible assets 8 1,315,310 1,365,882
Investments 9 2 2
1,315,312 1,365,884
Current assets
Debtors 10 374,466 117,562
Short term deposits 1,754,484 977,196
Cash at bank and in hand 323,088 393,719
2,452,038 1,488,477
Creditors: amounts falling due within one year 11 (141,404) (80,079)
Net current assets 2,310,634 1,408,398
Total assets less current liabilities 3,625,946 2,774,282
Net assets 3,625,946 2,774,282
The funds of the charity:
Unrestricted funds
General funds 16 490,075 296,836
Designated funds 16 1,620,807 941,790
2,110,882 1,238,626
Restricted funds 17 1,515,064 1,535,656
Total charity funds 3,625,946 2,774,282
----- End of picture text -----

The financial statements on pages 28 to 39 were approved by the Board of Trustees on 10 October 2022 and signed on their behalf by:

Laurie Oppenheim Chair of the Board of Trustees

29

Statement of Cash Flows

31 Mar 2022 31 Mar 2021
Notes £ £
Net cash provided by operating activities
15
727,264
Cash fows from investing activities:
Interest income
3,708
Tangible fxed asset additions
(24,315)
Disposal of investment income portfolio
-		 498,735
3,044
(5,807)
141,338
Net cash provided / (used) by investing activities (20,607) 138,575
Increase (decrease) in cash and cash equivalents in the year 706,657 637,310
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 1,370,915
2,077,572		 733,605
1,370,915

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Notes to the Financial Statements

1. Accounting policies

1.1 Basis of preparation and assessment of going concern

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 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The charity constitutes a public entity as defined by FRS 102.

1.2 Fund accounting

General funds are unrestricted and available for use, at the discretion of the Trustees, in furtherance of the general objectives of the charity, but have not been designated for other purposes.

Designated funds are unrestricted funds but have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which will be used in accordance with specific restrictions imposed by donors or have been raised by the charity for particular purposes. Expenditure that meets the criteria is charged to the fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.3 Incoming resources

Donation and legacy income is received by way of donations and gifts and is included in full in the statement of financial activities when receivable.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that the probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received by the estate.

Grants and other income are 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.

Other trading activities comprise of amounts receivable from specific events held during the year inclusive of gift aid tax repayment claims.

Income from investments includes bank interest receivable during the year.

No amounts are included in the financial statements for services donated by volunteers. Other gifts in kind are recognised at a reasonable estimate of their value.

Accrued income is recognised where it is probable that entitlement exists, subject to any conditions of receipt.

Income from charitable activities relates to monetary contributions towards use of the houses in Hampshire and Wales. They are recorded as received.

1.4 Resources expended

Expenditure is accounted for on an accruals basis and allocated to the appropriate heading in the accounts. Expenditure on raising funds includes the costs incurred in generating donation and legacy income and fundraising costs. These costs are regarded as necessary to generate funds that are needed to finance charitable activities.

Charitable activities expenditure enables the charity to meet its charitable aims and objectives.

Support costs are those costs which enable fund generating and charitable activities to be undertaken. These costs include central premises costs and central management costs such as finance, administration and human resources. These costs have been apportioned on a basis of time spent on each of the direct activities.

Resources expended include attributable VAT which cannot be recovered.

1.5 Tangible fixed assets

Tangible fixed assets costing more than £2,000, and computer equipment, are capitalised and included at cost. Depreciation is applied to all tangible fixed assets with the exception of freehold land (due to the fact that it should not normally depreciate) and is calculated in order to write off the cost, less estimated residual value over expected useful lives as follows:

Freehold land Nil Freehold buildings 2% straight line Fixtures and fittings 20% straight line Equipment 25% straight line Motor vehicles 25% reducing balance

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On each of the homes in Hampshire and Wales, £100,000 is deemed to be the value attributed to the freehold land valuation, on which depreciation is not charged.

Donated assets are capitalised at the value of the cost to the donor or, if not new, at the current market value. The value of the donation is credited to the statement of financial activities.

1.6 Operating leases

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

1.7 Consolidation

The results of the charity’s trading company have not been consolidated on a line by line basis due to the insignificant level of activity. Any trading profit donated by way of gift aid is included in income from investments.

1.8 Pensions

The charity makes payments to a defined contribution scheme on behalf of employees. The contributions are treated as an expense in the year. The contribution by employees is 3% and by the employer 5%.

1.9 Short term investments

Short term investments are held to seek a return on low risk cash deposit bank accounts.

1.10 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.

1.13 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.14 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.

The Trustees have considered the likely future cash flows of the charity and have considered the balance sheet facilities available at this point in time.

Although Covid restricted many of the charity’s operations during the financial period, including forced closure of the respite properties, there was an increase in the number of cash donations received during this time.

The Trustees consider that the charity has sufficient cash to continue for the coming months, and is therefore considered to be of going concern. The financial statements have been prepared on a going concern basis.

1.15 Redundancy and termination payments Redundancy and termination payments are recognised as a liability and an expense when the charity is committed to the termination of employment before normal retirement date or end of employment contract.

1.11 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.12 Creditors and provisions

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 be measured or estimated reliably.

Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

32

2. Income

----- Start of picture text -----
31 Mar 2022 31 Mar 2021
£ £
Trust & Grants 787,956 701,671
Corporate donations 652,525 282,164
Individual donations 628,353 449,331
Community fundraising 95,133 85,357
Total donation and legacy income 2,163,967 1,518,523
Interest receivable on deposit bank accounts 3,708 3,044
Total income from investments 3,708 3,044
Other contributions 4,000 -
Total income from charitable activities 4,000 -
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3. Expenditure on raising funds

----- Start of picture text -----
Activities
Support
undertaken 31 Mar 2022 31 Mar 2021
costs
directly
£ £ £ £
Donation and legacy income 2,163,967 - 2,163,967 1,518,523
Cost of generating donation and legacy income (329,727) (94,551) (424,278) (345,130)
Net donation and legacy income 1,834,240 (94,551) 1,739,689 1,173,393
Other trading activities income 446,134 - 446,134 237,160
Cost of generating trading activity income (54,955) (47,275) (102,230) (76,330)
Net fundraising events and hire of facilities income 391,179 (47,275) 343,904 160,830
Total fundraised income 2,610,101 - 2,610,101 1,755,683
Total costs on raising income (384,682) (141,826) (526,508) (421,460)
Net donation, legacy & fundraising income 2,225,419 (141,826) 2,083,593 1,334,223
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4. Expenditure on charitable activities

----- Start of picture text -----
Activities
Support
undertaken 31 Mar 2022 31 Mar 2021
costs
directly
£ £ £ £
Respite breaks and digital outreach 908,709 330,928 1,239,637 1,024,619
Total charitable expenditure 908,709 330,928 1,239,637 1,024,619
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During the year there was £688,321 of restricted charitable expenditure (year ended March 2021: £363,919).

33

5. Support costs

----- Start of picture text -----
Fundraising:
Fundraising: Charitable
Donations 31 Mar 2022
Events activities
& Legacies
£ £ £ £
Finance, audit and payroll costs 24,758 12,379 86,652 123,789
Executive and professional costs 43,010 21,505 150,537 215,052
Premises and IT costs 19,558 9,779 68,454 97,791
Other office support costs 7,225 3,612 25,285 36,122
Total support costs 94,551 47,275 330,928 472,754
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6. Staff costs, Trustee remuneration and expenses, and the cost of key management personnel

----- Start of picture text -----
31 Mar 2022 31 Mar 2021
£ £
Wages and salaries 984,815 874,626
Social security costs 96,842 80,905
Pension costs (money purchase scheme) 41,457 37,574
Total staff costs 1,123,114 993,105
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During the year, four employees received remuneration greater than £60,000: one in band £110-120k, one in band £80-90k, two in band £60-70k (year ended March 2021: one in band £90-100k, one in band £70-80k, one in band £60-70k).

The leadership team comprises of the Chief Executive, Director of Income and Communications, Director of Operations, Director of Strategic Development, Director of Finance, and Personnel Manager. Total benefits paid in the year ended 31 March 2022 were £375,615 (year ended March 2021: £289,179).

Trustees neither received nor waived any emoluments during the year. Trustee travel expenses during the year were: £nil (year ended March 2021: £nil).

7. Staff numbers

The average number of employees analysed by function was:

----- Start of picture text -----
31 Mar 2022 31 Mar 2022 31 Mar 2021 31 Mar 2021
Full-time Part-time Full-time Part-time
Charitable activities 12 16 7 2
Cost of generating funds 6 2 6 3
Management and administration 2 4 1 4
Total number of employees 20 22 14 9
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34

8. Tangible fixed assets

----- Start of picture text -----
Freehold Fixtures
Motor
land & & Equipment 31 Mar 2022
vehicles
buildings fittings
£ £ £ £ £
Cost
At 1 April 2021 1,510,360 355,958 252,441 153,073 2,271,832
Additions - 18,277 6,038 - 24,315
Disposals - (65,870) (96,884) - (162,754)
At 31 March 2022 1,510,360 308,365 161,595 153,073 2,133,393
Depreciation
At 1 April 2021 274,043 314,233 236,602 81,072 905,950
Charge for the year 26,260 21,338 9,289 18,000 74,887
Elininated on disposal - (65,870) (96,884) - (162,754)
At 31 March 2022 300,303 269,701 149,007 99,072 818,083
Net book value
At 31 March 2022 1,210,057 38,664 12,588 54,001 1,315,310
At 31 March 2021 1,236,317 41,725 15,839 72,001 1,365,882
9. Fixed asset investments
31 Mar 2022 31 Mar 2021
£ £
St James's Place investment portfolio - 125,704
Unrealised investment losses - -
Gain on disposal - 15,634
Disposal during year - (141,338)
Market value at 31 March 2022 - -
-
Original cost - 12 Feb 2020 150,000
Cost at 31 March 2022 - -
Unquoted UK investments at cost 2 2
At 31 March 2022 2 2
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The unquoted fixed asset investment comprises 100% of the issued share capital of Honeypot Trading Limited, the trading arm of the charity, company number 03806058. All taxable profits are transferred to the charity. The net value of the company at 31 March 2022 was £nil. The company was dormant throughout the year.

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10. Debtors and prepayments

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31 Mar 2022 31 Mar 2021
£ £
Trade debtors 232,174 581
Accrued income 50,466 40,958
Tax repayment claim 34,277 9,732
Other debtors 17,282 18,178
Prepayments 40,267 48,113
Debtors: amounts falling due within one year 374,466 117,562
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11. Creditors: amounts falling due within one year

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31 Mar 2022 31 Mar 2021
£ £
Trade creditors 64,768 35,489
PAYE & National Insurance 32,357 18,801
Other creditors 12,044 9,121
Accruals 29,995 16,668
Deferred income 2,240 -
Creditors: amounts falling due within one year 141,404 80,079
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12. Deferred income

Deferred income comprises advance sponsorship donations received in the year relating to the London Marathon (taking place in October 2022), and a golf event (taking place in Hampshire in June 2022).

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£
Balance as at 1 April 2021 -
Amount deferred in year (2022 London Marathon) 600
Amount deferred in year (2022 Hampshire golf event) 1,640
Balance as at 31 Mar 2022 2,240
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13. Operating lease commitments

At 31 March 2022 the charity had commitments under a non-cancellable operating lease on land, buildings and motor vehicles as follows:

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31 Mar 2022 31 Mar 2021
£ £
Due within 1 year 23,935 79,368
Due between 2-5 years - 23,476
Total lease commitments 23,935 102,844
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Total spent in the year on operating leases was £70,518 (year ended March 2021: £55,762).

14. Analysis of net assets between funds

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Restricted Designated General Total
Funds Funds Funds Funds
£ £ £ £
Fund balances at 31 Mar 2022 are represented by:
Tangible fixed assets 606,952 708,358 - 1,315,310
Investments - - 2 2
Current assets 908,112 912,449 631,477 2,452,038
Current liabilities - - (141,404) (141,404)
Total funds 1,515,064 1,620,807 490,075 3,625,946
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15. Reconciliation of net movement in funds to net cash flow from operating activities

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31 Mar 2022 31 Mar 2021
£ £
Net movement in funds 851,664 443,660
Add back depreciation charge and loss on disposal 74,887 79,560
-
Add back losses / (gains) on investment assets (15,634)
Deduct investment income (3,708) (3,044)
Increase / (decrease) in debtors (256,904) (2,600)
Increase / (decrease) in creditors 61,325 (3,207)
Net cash used in operating activities 727,264 498,735
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16. Unrestricted funds

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31 Mar 2021 Income Expenditure Transfers 31 Mar 2022
£ £ £ £ £
General Reserve 296,836 1,950,080 (1,050,805) (706,036) 490,075
Designated Funds
Fixed Asset Fund 729,342 - (27,019) 6,036 708,359
Third Honeypot House Fund 182,448 - - 200,000 382,448
- - -
Fourth Honeypot House Fund 500,000 500,000
Continuing Operations Fund 30,000 - - - 30,000
941,790 - (27,019) 706,036 1,620,807
Total unrestricted funds 1,238,626 1,950,080 (1,077,824) - 2,110,882
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The General Reserve represents free funds of the charity, which are not designated for any particular purpose.

The Fixed Asset Fund has been set up to assist in identifying those funds that are not free funds and it represents the net book value of the tangible fixed assets, except for those funded from the Honeypot House Fund and the Wales House Fund. The expenditure for the year relates to depreciation charged on those assets.

The Third and Fourth Honeypot House Funds have been set up to assist in identifying those funds that have been designated to aid the strategic goal of the charity, which is to reach more children through additional accommodation.

The Continuing Operations Fund has been set up to allow the charity to be able to maintain operations in the event of a disaster or unforeseen event occurring to the charity. The fund acts as additional cover beyond the standard insurance covers, should it ever be needed.

17. Restricted funds

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31 Mar 2021 Income Expenditure Transfers 31 Mar 2022
£ £ £ £ £
-
Respite breaks & outings 511,737 469,305 (600,147) 380,895
SEAL breaks 329,728 60,000 (42,000) - 347,728
- -
Wellbeing Fund 37,500 (15,818) 21,682
Children’s Breaks Fund 841,465 566,805 (657,965) - 750,305
-
Equipment 694,191 100,924 (30,356) 764,759
-
Equipment Fund 694,191 100,924 (30,356) 764,759
Total restricted funds 1,535,656 667,729 (688,321) - 1,515,064
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The Children’s Breaks Fund represents incoming and outgoing monies that have been received and spent in accordance with specific donor requests, relating to respite breaks, SEAL breaks and outings.

The Wellbeing Fund was created at the end of the financial year March 2021. It was created to allow beneficiaries of the charity the opportunity to access small grants up to the value of £250 to assist in their day-to-day lives.

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17. Restricted funds cont.

The Equipment Fund has been set up to provide for new equipment at both houses.

The classification of restricted funds was changed in the financial year 2021/22 to better show the types of funds that the charity had received. Previously, restricted funds were shown by geographical location, ie Hampshire and Wales. In these accounts the classification has been changed to show that all restricted funding falls under two main categories: Children’s Breaks and Equipment. It is considered that this is more useful information than the previous format which showed funds by geographical area. The change in the format of the restricted funds has not changed the overall balances going forward at the start of the 2021/22 year.

18. Pension contributions

The amount outstanding at the year end was £12,038 (year ended March 2021: £9,115).

19. Related party transactions

During the year ended 31 March 2022 the Trustees of the charity and their spouses made payments (donations and payments for auction prizes, and tickets to The Honeypot Party) to the charity for £81,585. For year ended 31 March 2021 the equivalent was £840, as there was no Party that year.

20. Control

The ultimate controlling parties are the Trustees listed on page 2.

21. Auditor’s remuneration

The auditor’s remuneration constituted an audit fee of £7,331 (year ended March 2021: £6,600) and payroll bureau fees of £3,600 (year ended March 2021: £4,974).

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The Honeypot Children’s Charity 26-28 Hammersmith Grove London W6 7BA www.honeypot.org.uk

Charitable Incorporated Organisation No: 1184132 40