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2023-03-31-accounts

The Honeypot Children’s Charity Annual Report & Accounts: Year Ended 31 March 2023

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Contents

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 23
Financial Review 28
Statement of Trustees’ Responsibilities 29
Independent Auditor’s Report 31
Financial Statements 34

The Honeypot Children’s Charity

Charitable Incorporated Organisation England and Wales (No. 1184132) Scotland (No. SC052213)

227 Shepherd’s Bush Road London W6 7AS

www.honeypot.org.uk

Trustees

Laurie Oppenheim (Chair) Mary Davis Hugh Whitaker Verne Grinstead Natalie Rebeiz Tom Putter Andrew Chalkley Oliver Harrison

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 3,500 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 five key areas of support:

> Residential Respite Breaks

These stress busting breaks have been at the heart of Honeypot for more than 26 years and form the backbone of our organisation. We have houses in England, Wales and Scotland. In the long- term Honeypot aims to open a comprehensive network of Honeypot Houses throughout Great Britain.

> Social and Emotional Active Learning (SEAL) A SEAL education booster break is run in three stages:

Stage 1: Pre-residential, where Honeypot’s team consults with the school, parent(s) and the child to establish the specific learning challenges of each child.

Stage 2: Intensive four-day residential education break, where a tailored programme of 30 hours of active learning is provided.

Stage 3: Post-residential, where Honeypot’s team follows up with the child and their school to embed the new level of confidence and self-belief the child has to succeed in education.

> 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. Honeypot provides healthy eating and nutrition to ensure mealtime for young carers comprises healthy, nutritious meals and not sugary drinks and snacks.

> Pastoral Care

Post-Covid lockdown, many young carers have been left mentally fragile. Honeypot provides pastoral care for overwhelmed young carers and their families, to help them cope with their challenges. Sadly, our pastoral care is in great demand.

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.

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A Message from our Chief Executive

A year of innovation and growth

Honeypot’s dedicated professional team, guided by Honeypot’s Trustees, and supported by generous financial contributors, delivered outstanding results over the past twelve months. The successes of the past year were driven by innovation: innovative services, fundraising, strategy, and day-to-day management.

Applying digital technology, we delivered innovative after-school and weekend clubs online, that alleviated the loneliness and isolation so many young carers experienced.

Honeypot responded to the great deprivation that we were witnessing amongst young carers by increasing the number of Wellbeing Grants we awarded for essential life items no child should lack.

Supported by the Welsh Government, we also launched a healthy eating and nutrition service that ensured mealtimes comprised of healthy and nutritious food, and not sugary drinks and snacks.

We tackled mental fragility of a generation of young carers who lived through Covid lockdown. Honeypot launched a new Pastoral Care service that supported overwhelmed children and their families, enabling them to cope more effectively. This was Honeypot’s urgent response to an urgent need.

I am confident that Honeypot has embedded the drive, creativity, and determination to ensure we continue to innovatively respond to the changing needs and challenges of young carers.

Innovative fundraising

The innovative services we delivered

For several years, Honeypot has made concentrated efforts to effectively measure the positive impact of our services in meeting the needs of young carers. Assessing the data, and understanding what worked well, enabled us to develop our services to achieve greater positive impact for young carers.

We innovated our respite breaks: enriching and enhancing the content of our residential respite breaks with creative activities and memorable moments children will cherish for years.

Through the Richard Porter Family Foundation we acquired, on a long lease at a peppercorn rent, a new house in Scotland, and finalised preparations to commence respite breaks and welcome the first group of young carers in early August 2023.

Our SEAL education boosters were innovatively reconfigured as a three-week programme. We devoted more time to understanding the individual needs of children coming on education booster breaks and tailored these to ensure we built children’s resilience and self-belief that they can succeed in education.

2023 was a bumper year! Our financial supporters contributed £2.4million, the largest amount received in a year when there was no Honeypot biennial fundraising party. We achieved success in all areas, by providing innovative fundraising opportunities.

Honeypot presented potential funders with a range of innovative projects, such as our Education Booster Programme, Healthy Eating and Nutrition Service, Pastoral Care Service. Trusts and Foundations, corporates, groups, and individuals generously sponsored these projects.

Special thanks to Munich Re for choosing Honeypot to receive substantial funds for our Social and Emotional Active Learning (SEAL) education booster programme, and the Welsh Government for funding healthy eating and nutrition. Thanks to all our corporates, trusts and groups and individuals for supporting a wide range of innovative projects.

Special thanks also, to our long-standing supporters, The Betty Messenger Charitable Foundation, St George and The Berkeley Foundation, Tresanton Trust, POM Trust and Girdlers’ Company Charitable Trust.

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Special thanks to the Richard Porter Family Foundation, Mr Simon Clarke and the Spoilt Ramblers for providing Honeypot’s new house in East Ayrshire, Scotland.

Our innovative volunteering programme appealed to many funders, especially corporates who wished to give time as well as money. Corporate staff related how they experienced great satisfaction when participating in our multifaceted volunteering programme, which included volunteering to help the children on education booster breaks or joining groups of young carers on special memory making days out to venues such as Mudchute Farm.

Honeypot provided a rich range of fundraising events and activities, such as: places in the London Marathon and other marathons, half-marathons, and a diverse range of challenge events. We also held social events such as our evening at the Comedy Store, our Christmas Carol Concert at Romsey Abbey, open days at our houses, Sporting Chance Prize Draw, and our Virtual Million Step Challenge. We aimed to offer something for everyone over the past year.

We employed innovative technology to support fundraising appeals. Our real-time doubling of donations, Christmas Mega Matched Funding Appeal, titled Putting the Fun back into Christmas for Young Carers , raised more than £400,000. Thousands of donors participated in this appeal and our Summer Big Give Appeal, too. Sincere thanks to every donor whose collective giving enabled Honeypot to provide services for many young carers.

The Honeypot team were also delighted to support the innovative fundraising ideas and events of our donors. We enjoyed supporting events, large and small, from St George and The Berkeley Foundation’s mega five aside football tournament to a young boy who did a sponsored sleep out under canvas for Honeypot. I wish to offer heartfelt thanks to each and every donor.

I especially thank the Trustees of The Betty Messenger Charitable Foundation for their truly transformative support over the past year, providing the largest one off donation Honeypot has ever received.

The year ahead

My commitment to our young carers and our supporters is that in the coming year the Honeypot team will continue to find innovative and exciting ways to support young carers in a way that meets their many needs more impactfully. We will provide innovative fundraising and volunteering opportunities to make fundraising for Honeypot a rewarding and fulfilling experience for our voluntary contributors.

Thanks to everyone who partnered with Honeypot to give thousands of young carers happy childhood memories and brighter futures.

Simmi Woodwal Chief Executive

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Service Delivery & Output

The range of Wrap-Round services that Honeypot provides to achieve lasting positive change in young carers’ lives, as well as meeting their more pressing needs, are listed below:

Ongoing development of service delivery

For several years the Honeypot Services Team have focused on developing an enhanced model of service delivery. Our services have developed from a single service, namely Residential Respite Breaks, to a multi service offering.

We have based the development of our services on psychological theory, which posits that the highest level of need for an individual is to self-actualise and be all they can be.

Maslow’s Hierarchy of Needs states that selfactualisation cannot be achieved without an individual first meeting their lower level needs, such as the social need for belonging, and the physical need for food and essential physical items.

A child having caring responsibilities can be a very challenging experience and have a negative impact on their happiness, health, and their ability to be all they can be. Caring, though, can have positive effects on a young person too.

Honeypot has developed a holistic approach to service delivery, whereby a multi-service offering is provided to meet the multiple needs of young carers. This is known as Honeypot’s Wrap-Round support services. We aim to tailor these services to meet the individual child’s multiple needs.

The skills, emotional maturity, and sensitivity to the needs of others that young carers develop due to their caring duties, are skills and qualities that Honeypot seeks to tap into and employ as a springboard for addressing the negative impact of caring. Caring can be a rewarding experience for young carers and their families.

Honeypot provides its Wrap-Round support services to an increasing number of young carers. Our services provide a fulfilling experience for young carers, so they can enjoy their time at Honeypot.

Residential Respite Breaks

Honeypot’s Residential Respite Breaks provide young carers with the opportunity to take a break from their primary caring responsibilities. We give our young carers the chance to engage in experiences that give them the freedom to enjoy just being a child.

Our staff provide the experiences necessary for our young carers to have the time to be happy, carefree children. Providing children with the opportunity to have a break from their usual caring routines impacts positively on their quality of life.

On a respite break young carers exchange stories with children who have similar life circumstances and challenges and they learn the skills and confidence needed to interact socially and create friends for life.

To enhance the level of support we provide to young carers, we have added several new services throughout the past year. We have also reviewed and assessed our long-standing respite break service and applied many elements from our new services to our breaks, to make them more positively impactful and fulfilling for young carers. Young carers appreciate and look forward to our breaks, which helps to lessen their feelings of isolation and loneliness.

Providing the children with a break from their typical caring responsibilities enhances their quality of life, keeps them healthy, and makes them feel more capable of handling their caring duties.

For Honeypot, as a charity, it is crucial to ensure that the young carers are taking a complete break from their caring responsibilities.

From April 2022 to March 2023, Honeypot delivered 117 breaks and welcomed 1,346 children to Honeypot’s houses.

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Social Emotional Active Learning (SEAL)

Under the leadership of our SEAL Children’s Services Leaders (CSL), our SEAL programme has gone from strength to strength. The aim of the programme is to support groups of 12 children who are struggling with everyday school life. These are disadvantaged children, who fall into one or several of the following categories:

----- Start of picture text -----
SELF
AWARENESS
SOCIAL SELF
AWARENESS MANAGEMENT
CORE SEAL
CONCEPTS
RESPONSIBLE
RELATIONSHIP
DECISION
SKILLS
MAKING
----- End of picture text -----

From April 2022 to March 2023, we delivered 15 SEAL breaks and 168 children engaged in the programme.

The programme is delivered over 3 to 4 weeks, ensuring all schools have convenient, well-timed pre and post school sessions that wrap around the main four-day SEAL residential at Honeypot. SEAL is recognised as an accepted out-of-school intervention by the Department of Education.

The programme has helped schools and children to become more aware of and knowledgeable about themselves. It has helped children to focus on and understand their attitudes and beliefs, while also boosting their motivation.

Through a nurturing approach, which helps children surmount obstacles they may experience in school, we provide an environment that is encouraging for children and supports their self-development.

Honeypot’s SEAL programme dovetails with in-school interventions for children in need, enabling the school to build on the progress achieved by a child participating in a SEAL education booster programme, to further strengthen and reinforce the positive progress made.

In August 2022, Honeypot’s Children’s Services Leader developed a more rigorous, focused SEAL curriculum, which includes adaptable indoor and outdoor sessions. These are centred around five core SEAL concepts, defined by the Collaborative for Academics, Social and Emotional Learning (CASEL), which are widely used internationally.

Themes and skills learned:

Concepts:

Self Good to be me Awareness Changes Aspirations Self Problem solving Management Perseverance Independence Presenting Responsible Community Decision Environment Making Changes Life skills Relationship Relationships Skills Empathy Communicating Diversity Listening Collaboration Social Community Respect others Awareness Environment Independence Empathy Diversity

By working in accordance with CASEL competencies, Honeypot was able to offer schools a quality-assured intervention, aimed at enriching the development of children’s social and emotional wellbeing, working alongside any mental health initiative in which they were already engaged.

In January 2023 Honeypot achieved the Learning Outside the Classroom Quality Badge , a globally renowned sign of high-quality educational offering.

The Department of Education has approved this national accreditation since it is the only one that recognises learning and safety for all providers of learning outside the classroom.

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Digital Workshops

Our digital service continues to intertwine with our other offerings. Digital Workshops also retain importance as a sign to children that we are accessible and available if they need us. Our themed sessions during the holidays engage children in some inspiring workshops. Our Swarm sessions that are delivered after school support children in their favourite topics, such as baking, art and crafts, quizzes and much more.

Memory Making Days

These memory days offer our young carers the chance to create unique memories that they will enjoy for a lifetime, because we all know that young carers need to be able to take time for themselves. Each child who participates values these days because they meet other young carers, make new friends, experience new opportunities, and simply enjoy themselves without feeling stressed or lonely. Just like the rest of us, young care takers need to be able to take breaks occasionally.

Pastoral Support Service

The Pastoral Support Service continues to strive to meet the strategic outlook of the charity of delivering greater breadth and depth of support for young carers. The service exists to ensure the children registered with Honeypot can access each element of our current service provision, and to develop support services that enhance our current offering.

We support families by signposting them to advocacy and specialist service providers who can assist a child or their family in the often complicated process of accessing these services. Honeypot assists young carers and their families to access organisations and resources that help to address a range of issues the child might experience.

We also help the parent(s) to access benefits advice, budgeting, counselling and much more. Honeypot’s Pastoral Service has helped families to gain access to much needed benefits by supporting them with completing formal applications for assistance that they might not be able to complete by themselves.

Our Pastoral care service has helped families to get appropriate and sufficient support from mental health specialists during a crisis and supported parents in getting further Special Educational Needs resources.

Contact has been made with families, social workers, teachers, and a range of other organisations who exist to further the wellbeing of children in need. We have worked with these organisations to deliver multi-disciplinary team support. We continue to support families throughout difficult and distressing circumstances - the value is not easily quantified but is regularly expressed by our families.

The Pastoral Support Service has identified children who were unable to attend a respite break due to personal circumstances. Honeypot developed sets of cards that are sent in batches over time.

These cards form Wellbeing Wallets, which are designed in conjunction with the families to address the issues the child has, to provide them with a resource that helps them to understand and cope more effectively with their issues and challenges.

Over the past year the Pastoral Support Team has developed sets of packs covering issues such as:

A wallet is sent out each month and family members work together on these and communicate the progress they have made to Honeypot’s Pastoral Lead.

It is wonderful to spot the bright yellow envelope every month! For me and [my daughter] it has brought us much closer. We both have changed and learned from the little projects in the letters.

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----- Start of picture text -----
149
families given
£100
food vouchers
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Wellbeing Grants

The demand for Wellbeing Grants is increasing each year. More and more deprived children are receiving our assistance so that they can obtain necessities that improve their wellbeing but, most importantly, so that they can be a part of their community and feel equal amongst their peers.

Parents have thanked us for accessing the products for their children and have given Honeypot strongly positive feedback.

As an example, the family of a young carer applied for a Wellbeing Grant for their 12 year old daughter for a high-sleeper bed and mattress, due to her old bed being broken. Her parents wrote:

“Thank you!! We now have a very happy girl, bless you all! We really appreciate all your help. She really does love her new bed! She said it’s so comfortable and she had the best night’s sleep in it! Thanks again.”

An 11 year old carer, received a new tablet and headphones, purchased via the Wellbeing Fund. Her Mum wrote:

“The hugest of thanks to everyone at Honeypot for showing such kindness by buying Jessica a tablet and headphones, so that she can now easily do her homework. She is absolutely delighted with them! A little bit of Honeypot will be with her every day that she uses it... so this means a lot to her.”

Healthy Eating & Nutrition Wellbeing Support

This is one of our new services that was launched in October 2022. We aim to motivate children to think about what they eat and the food choices they make, and give them the knowledge and skills to make healthier decisions.

While on their respite break with us, they are introduced to the idea of healthy eating through casual conversations at the dinner table about choosing healthy foods and practicing good eating habits.

Children are encouraged and made welcome to participate in a series of our digital workshops about nutrition and healthy eating, as well as participating in cooking classes where they prepare a healthy meal for their family and are empowered to help with meal preparation and baking sessions during the break.

At various times during the year, parents receive a series of four £25 coupons for the supermarket of their choice. Some positive comments from the families:

“Firstly wow! I honestly can’t thank you enough! Thank you all for this, it’s beyond a massive help to us right now.”

“The vouchers will be a huge help in the current climate. Thank you so much again.”

“Thank you so much though, it really is so kind of you to be able to send us these food vouchers, we really appreciate it.”

Some families who are under financial strain, and those at-risk low-income families, have found these vouchers to be a lifeline. By helping families receive basic meals, we are filling a key gap.

Parent & Child Thrive

This programme consists of two separate days onsite where parents are encouraged and assisted to build positive relationships, promote play, learn how to budget and are given information about healthy eating and nutrition.

The programme was very well received with feedback from the participating school being most encouraging and complimentary. Based on the success of these pilot sessions, five further Parent & Child Thrive programmes are planned for 2023/24.

Our highest priority continues to remain available to young carers whose home lives have, in many cases, become more difficult since Covid-19.

We will continue to provide our Wrap-Round services to young carers in need. We also prioritise work that enables Honeypot to reach out to organisations and young carers who do not know what services are available to them.

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Honeypot Case Study

Meet the Derrigan Family

Wellbeing Fund

The family has benefitted from a new washing machine, laptop, and grocery vouchers through Honeypot’s Wellbeing Fund and Healthy Eating and Nutrition Service.

Brodie (12) and her twin brothers, Lochlan and Carter (8), have joined numerous Honeypot respite breaks. The family has also benefitted from the Wellbeing Fund and our Healthy Eating and Nutrition Service.

“It has been life changing. Having four children can be hard. I used to have to put multiple washing loads in, now I can just do one! Our other machine was so old. I was having to do the washing outside.

The twins and their sister help out with everything from housework and cleaning to cooking. Their other sister, Quinn (11), has mental impairment, mobility issues and struggles with most tasks. Brodie, Lochlan and Carter are the crucial extra pair of hands for their parents.

“It was horrendous in the winter. The children were shining a torch for me. Now I have one in the house, it’s changed my life! Plus, it’s more economical so we are saving money that way. We go through so much bedding and clothes; everything gets cleaned properly now.”

“I don’t want to say they get a little bit jealous, but it must be hard as we always have to put Quinn first,” says their Mum, Ann Derrigan.

The family can’t afford a TV and asked for a laptop for Brodie as she is the older of the siblings.

Brodie and Quinn used to share a room. Brodie really struggled mentally. It was difficult for everything to be centred around Quinn. Brodie struggled having less attention and time devoted to her needs.

“She is so happy with it. Not only using it for homework but also for Netflix. She has her own space in her room to relax and watch the programmes she loves. It is brilliant. I can see how much she is benefitting from having a possession that’s hers.”

Ann believes the best thing about the respite breaks are the opportunity to meet others in a similar situation. They felt at home straight away. The opportunity to just be children and have fun with no responsibilities was so needed.

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Healthy eating for all the family

The family has also benefitted from Honeypot’s new meal vouchers service, to help families with healthy eating and nutritional support in the school holidays. While on a respite break, they learned all about cooking healthy food and making easy meals.

The food vouchers were sent to the family directly after the residential break, where they learned new food preparation skills, so they can continue to create great tasty and healthy meals. The family has decided to keep the latest vouchers for the summer and use them for days out in the park to have a picnic.

Ann says, “It will be amazing to go to the grocery store and let them pick what they want instead of having to think of how much everything will cost. Money doesn’t last on a weekly shop, at least this will mean another activity we can do together as a family.

“We can do that three or four times now thanks to Honeypot. We wouldn’t be able to eat out logistically with Quinn, or afford to, so we can go out for the day and they can play. I’m really looking forward to it.”

Ann believes Honeypot may be summed up as a ‘worry free experience’ for both the parents and the children. When the children go on a respite break, Ann knows they will have the best time and come back happy.

“The service you provide is amazing. They keep asking when they are going again. All the teddies, arts and crafts materials, colouring books they receive on a break is so special. They really feel like they have someone there to support them. I 100% recommend Honeypot to other families. I wish they could go every other month on respite, but the birthday cards and memory making days in between really help.”

Worries for the future

Ann is worried that having a member of the family that heavily relies on everybody else could impact the children in the future.

Brodie has suffered socially and emotionally. It can be hard to understand Quinn or form a relationship with her. Brodie detaches herself. As she is the oldest, she may feel the most pressure, plus she is very empathetic. Young carers grow up and mature a lot quicker than other children.

“I can imagine there are a lot more hidden young carers in her school, and there’s no funding to help them.”

This is the amazing thing about Honeypot, it’s a place where everything is about them. We couldn’t afford to go on a break so it’s a lifeline for us. They come back so happy and rejuvenated. I can see they have grown in independence!

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Service Delivery Impact

Residential Respite Breaks

Honeypot strives to deliver impactful services of a measurably high quality. We aim to support and enable young carers to fulfil their potential. Every residential respite break at Honeypot makes a positive difference to young carers.

These breaks reduce the stress and anxiety children experience when constantly carrying out onerous care duties for a sick or disabled family member. Respite breaks enable children to make happy memories and boost their confidence and self-belief.

Honeypot has devoted considerable resources to developing reliable and statistically validated measures of the positive impact our services achieve for young carers. The data we collect ensures the services we deliver achieve the output stated goals of our services.

These service outputs and outcomes are necessary to meet the physical and psychological needs of young carers. This process of continuous service development, based on assessing the benefits young carers derive from receiving them, ensures that the goals, objectives and design of our services are strongly beneficiary-driven.

I don’t have so much responsibility and I’m not worried about everything.

Since I’ve been here I’ve felt myself and much happier.

I made new friends and I got to ride a go kart!

f What was the best thing about your break?

“Getting a break and a having a rest” “The food”

“Making new friends”

“The food and the activities”

f What was your most proud achievement?

“I’m most proud of the den I built in the forest” “Learning new things because they were fun” “Football, because I got better”

“Coming out of my comfort zone”

“Learning how to ride a bike”

f How do you feel after the break?

----- Start of picture text -----
9%
Much happier
A bit happier
Not so happy
Don’t know
91%
----- End of picture text -----

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% of children who believed

Social Emotional Active Learning (SEAL)

Survey methodology - The Stirling Children’s Wellbeing Scale - a highly statistically validated measurement framework that establishes improvements in a child’s subjective or emotional wellbeing and in their objective or psychological wellbeing.

Pupil feedback

“I think I talk a lot more as I answer questions now, before Honeypot I didn’t put my hand up much.’

“I feel my motivation and resilience is better… if there is something hard, I try more.”

“I feel more resilient because I didn’t give up. My motivation is better and I had to communicate more. I feel better about myself.”

Parent feedback

“He took part in challenges and gained skills he hasn’t done before. He is much better at overcoming disappointment.”

“Time at Honeypot made her feel understood, accepted for who she is and improved her self-confidence.”

“They’re much calmer and better at controlling their emotions.”

School feedback

“The trip has been so beneficial to our children, it has provided them with an amazing opportunity.”

“The break was excellent and staff are amazing. Taught the children so much.”

“The children all felt listened to, valued and understood. The positive relationships with the adults from Honeypot was very successful.”

SEAL has been a very successful intervention and schools have seen the benefits when children return to the classroom.

When asked, ‘Was there anything that you feel has been unhelpful, or that we could improve on further?’ one teacher responded:

“Not Honeypot, but me as a teacher. Now I know how it all works, I feel I can plan to build on the experiences and outcomes, and use the experience pre and post session to support the children to reflect back and use what they have learnt better in school.”

their confidence improved:

----- Start of picture text -----
Much better
A bit better
30%
No different
70%
Worse
Don’t know
----- End of picture text -----

% of children who believed their independence improved:

----- Start of picture text -----
Much better
10%
A bit better
40%
No different
Worse
50%
Don’t know
----- End of picture text -----

% of children who believed their resilience improved:

----- Start of picture text -----
Much better
10%
A bit better
No different
Worse
90%
Don’t know
----- End of picture text -----

% of children who believed their communication improved:

----- Start of picture text -----
Much better
A bit better
40%
No different
60%
Worse
Don’t know
13
----- End of picture text -----

Wellbeing Grants

Our Wellbeing Grants continue to form a successful part of our Wrap-Round services, making life easier for some children and their parents.

A young carer helps to look after her twin brother who has spastic diplegia cerebral palsy, frontal lobe epilepsy, severe global developmental delay, severe SPD and PICA, autism, sleep issues and hypermobility She and her mum applied for a Wellbeing Grant for equine therapy sessions.

After receiving the grant mum sent us an email, saying:

“She loves the horses, and it really helps with her anxiety and autism. She loves attending the sessions and also did a 2-hour session in the school holidays and met some really nice people. Thank you so much again for the funding for her to be able to do this.”

Application request are itemised as follows:

Technology_(eg: tablets/laptops)_
Furniture/household items
Clothing
Music lessons/instruments		 40%
10%
5%
8%
Education/tutor 5%
Bike 5%
Therapy_eg: play_ 2%
Extra-curricular clubs/fees 25%
(eg: football, gymnastics, drama, horse riding)

Of the families that apply for a grant:

Analysis of data collected as part of our Wellbeing Grant application process:

Ethnicity: White British
Mixed White/Black African
Mixed other
Black/Black British
Asian
Other
0 25 50 75
Who the children
care for:		 Mum
Dad
Sibling
Mum and sibling
Dad and sibling
0 25 50 75
Impact caring role
has on the child:		 Self-harm
Anxiety
Anger/frustration
Victim of bullying
Poor concentration
Physical impact
Excessive tiredness
Lack of confdence
Social isolation/loneliness
School absence
0 25 50 75

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Pastoral Services

Parents of 162 children have received email or telephone support. Of these, 66% have received support on multiple occasions. 100% have been signposted to access a further service from our Wrap-Round provision at Honeypot.

Of the children whose parents registered for pastoral support, 27% have been signposted to access services from their local young carers’ organisation.

Of the children whose parents registered for pastoral support, 41% have been signposted to access services from other service providers including their GP, school, Citizens Advice, local authority SEND teams, mental health support providers, and other charities including Sibs (for brothers and sisters of disabled children).

Parents who responded to our experience survey gave an average rating of 9.6 out of 10 for their interaction with Honeypot’s pastoral team.

Feedback from Parents/Guardians:

“Clare will check in with us regularly, giving fantastic advice and support which has been invaluable to us as a whole family.”

“They have been so very supportive with regards not just to issues with my daughter, but also my son and step daughter.”

“Really understood what I needed help with and helped with signposting.”

“Thank you so much for your support it means a lot for us. We really, really appreciate Honeypot is with us at this hard time.”

“[My daughter] is doing well thank you. We implemented all the advice you gave us, some of which helped at the time and other bits continue to.”

“You’ve been so helpful in directing us with other things and I think your own personal experience really helps in terms of understanding our needs.”

Wellbeing Wallets

This is a service we have developed as part of our pastoral support for children who are not ready for a respite break, or those that identified as needing support when on the break. This allows them to build skills that support their emotional and social needs.

We asked parents which areas they thought their child could benefit from support. Their responses were:

f
f		 Anxiety/stress/worry
Confdence building		 129
105
f Building resilience 101
f Managing anger/frustration 90
f
f		 Social isolation
Difculties at school		 89
51
f Coping with bullying 49
f
f
f
f		 Coping with puberty
Coping with divorce/separation
Changing schools
Identity (including gender)		 46
23
17
15
f Other 11

Based on 150 responses, we developed resources to support key areas of need: worry, positivity, emotions, resilience, self-esteem, and coping with change.

Feedback from Parents/Guardians:

“[My daughter] is really enjoying receiving them and looks forward to them coming in the post.”

“He has loved getting the wallets and loves that they come in a yellow envelope, so he knows that’s his.”

“We did the cards as a family, and it was nice to talk about issues as a family. The cards were a good idea to help us discuss our stresses and come up with coping strategies.”

“We also received the yellow cards at the weekend, which started a great conversation about how she was feeling and how she thought of herself.”

“[My daughter] is really enjoying receiving and completing the wellbeing packs that you have been sending.”

----- Start of picture text -----
15
t
s
l
h
B
h
n
No one likes me
I like me
I give up
I'll keep trying
I am a bad person
I did something bad
I'm so stupid
I made a mistake
I am not enough
I am enough
I can't
I can
INSTEAD
OF THIS SAY THIS
Sometimes the way we talk to ourselves can reduce ourself esteem even more.
The next time you think one of these thoughts or something else
negative, try swapping it for a sentence that is more positive so
you can build your self worth
SELF TALK SWAP
e
i
a
h
Meditation can help us to create a
calm environment to move us from a
feeling of anger or worry to one
where we feel relaxed or happy
As children it can help to try this for a
short time to practice being still and
quiet. Even a couple of minutes can be
the break we need to calm us down
and stop feelings of anger taking over.
On the next page you will find a script to
help you focus on YOU rather than the
outside world and the things that may be
making you feel a certain way
MEDITATION
start
here
When you experience something worrying, your breathing
becomes more shallow and faster. Deep breathing helps get more
oxygen into your bloodstream. It has a physical effect on your body
to help you calm down and stop you worrying. Trace the shape
slowly with your finger to help slow down your breathing.
Breathe out for 3 seconds
USING SHAPES TO
LEARN DEEP BREATHING
LAZY EIGHT
TRIANGLE
BREATHING
start
here
a
g
l
e
t
Specific – state exactly what
will be done
Measurable – be clear what
success will look like
Achievable – know it is possible
Realistic – know it is practical
Timely – state when it will beachieved
SMART GOAL SETTING
Goal setting is important because it gives you a sense of
purpose that can improve your confidence and build your self-
esteem. It also helps you to focus and make better decisions.
Example: Instead of 'I want to be better at football' try 'I
would like to improve my dribbling by practicing for 5
mins after school each day for the next week'
t
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Hold for 3 seconds
n o
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Breathe in for 3 seconds
s
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B
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----- End of picture text -----

----- Start of picture text -----
Your Support over the Past Year
CHRISTMAS
MEGA
MATCHED
FUNDING
APPEAL
£400k
£200k
You golfed for us
You gave grants to us
----- End of picture text -----

----- Start of picture text -----
You volunteered for us
You ran for us
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16

Fundraising & Communications

Our fundraising strategy

Over the past twelve months, Honeypot has successfully delivered the goals and objectives of the third year of its five-year income strategy.

This strategy has yielded year-on-year double-digit income growth. The main driver of income growth was the development of our services, with a virtuous feedback cycle being created between the increase in income and growth in services.

As our income has increased, finances were made available to fuel the growth of our services. As our services have grown, our income has continued to increase from donations from contributors wishing to see more services for a greater number of young carers.

All this forward movement occurred against the backdrop of exceptionally high unmet demand.

----- Start of picture text -----
Diversification
of our income
sources
HR Excellence
recruitment in donor
and stewardship and
retention engagement
Five-year
Income and
Communications
Strategy
National media (delivery in Extraordinary
partnerships year 3) donor journey
Clearly defined Communication
and highly and promotion
fundable of Honeypot’s
projects service model
----- End of picture text -----

----- Start of picture text -----
17
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Strategic objective 1: Diversification of our income sources

Our strategy put great emphasis on developing a wide range of fundraising campaigns and income sources to avoid too heavy reliance on a few large funders. Over the past year, we diversified income as follows:

> Continued to develop ‘mass giving’ appeals

Employing an innovative and interactive real time fundraising platform, our Christmas 2023 matched funding appeal raised substantial income.

Titled Putting the fun back into Christmas for Young Carers , the appeal was supported by nearly 1,000 contributors who collectively donated a six-figure sum. In addition, our long-standing Summer Big Give Appeal, Champions for Children , raised £83,000, the largest amount we have ever raised from an appeal not run at Christmas. We are immensely grateful to the providers of such excellent fundraising platforms.

Looking forward > we will continue to develop our mass appeals, aiming to attract thousands more donors, using innovative appeal platforms. Honeypot has been awarded a BBC Radio 4 appeal slot, on 24th of September 2023, which we hope will continue to attract substantial numbers of new, as well as existing supporters.

> Succeeded in attracting Government funding

Honeypot has never received funding from the UK Government for young carers’ services. In 2022-23 Honeypot was awarded two large grants from the Welsh Assembly for young carers in Wales.

One grant of £72,000 was given to create a new Healthy Eating and Nutrition Service. The second grant of circa £98,000 was to finance short breaks. Income from both grants is phased in instalments and most of the funds will be received in our 2023-24 financial year.

Looking forward > we will continue to apply for Government funding for our young carer services in Wales, England and Scotland.

> Developed legacy materials

Children’s charities often benefit from people leaving a gift in their Will. In the past Honeypot has received generous legacies, but our this source of income is well below what it can be.

Over 2022-23 we developed a strategy and accompanying marketing materials to assist people to become aware of the massive impact a legacy to Honeypot can make. We have seen increased interest in receiving our new legacy guide entitled Guide to leaving a legacy to The Honeypot Children’s Charity , with very notable gifts received.

Looking forward > Honeypot aims to recruit solicitors to assist people in finding out more information about leaving a legacy to Honeypot when making a provision in their Will for a charity. We also intend to subscribe to Smee and Fords Discretionary Legacy Notification Service to enable us to identify estates where a provision has been left for a gift to a children’s charity.

18

Strategic objective 2: Excellence in donor stewardship and engagement

Honeypot appreciates that more and more funders wish to be involved with the charity they support in addition to providing funding. Over the past year Honeypot intensified its donor stewardship and engagement opportunities:

Looking forward > Honeypot aims to enhance its donor stewardship and engagement opportunities to make the donor experience even more rewarding and fulfilling for individual donors or organisational and corporate staff members. We also aim to enhance our joint working with corporate and organisational partners to contribute to achieving their ESG or B Corp goals and objectives.

19

Strategic objective 3: Extraordinary donor journey

Over the past year Honeypot continued its longterm strategy of taking our supporters on an extraordinary donor journey over the life of the partnership.

We pride ourselves in building relationships that are varied and developmental. We grow with our partners, and we aim for our partners to grow with us. How we achieved this over the past year:

We involved our partners in service development and in collaborating with us to upscale the numbers of young carers our services could accommodate.

An example of this process was a charitable trust that commenced supporting Honeypot nearly a decade ago, originally with a relatively modest grant.

Its Trustees had the opportunity to give advice and feedback. They monitored and tracked the progress Honeypot made in delivering its plans for upscaling services.

The trust decided to spearhead many of the plans for introducing new services and upscaling the level at which services were being delivered. The relationship between Honeypot and the trust became a close and active partnership.

The trust decided to wind up in 2022-2023 and in so doing awarded Honeypot the largest single grant it has ever received, ensuring that we could continue to develop new services and upscale them under the banner of our Wrap-Round range of services to meet more of the needs of a greater number of young carers.

Looking forward > Honeypot will continue to take partners on a rich and varied donor journey.

Over the years the trust had a series of meetings with Honeypot’s CEO and Directors to understand the strategy that was being followed and the goals and objectives Honeypot was striving to achieve.

20

Strategic objective 4: Greater appreciation of Honeypot’s service model

Due to more intensive communication from Honeypot, our model of service provision became more transparent and better understood by a greater number of supporters.

Our service model is built around a body of research that supports two hypotheses:

Our holistic approach is based on the work of the American psychologist, Professor Abraham Maslow and his theory of the Hierarchy of Needs. This model states that needs lower down the hierarchy must be satisfied before individuals can attend to higher needs.

Honeypot’s service model of a Wrap-Round support service provides an early intervention, holistic approach that meets the lower and higher level needs of a child to help them achieve self-actualisation and be all they can be. This is a model that a growing number of Honeypot’s supporters have generously supported.

Looking forward > we will continue to forge links between all our services to provide more children with a comprehensive and tailored Wrap-Round support package of services that meets more of the needs they have at all levels leading to self-actualisation.

Maslow’s Hierarchy of Needs

Self-actualisation

Desire to be all one can be

Esteem

Self-esteem, respect, status, recognition

Love and belonging Friendship, sense of connection Safety Resources, health Physiological needs Food, clothing, sleep

Honeypot’s Response

SEAL education booster breaks; Residential Respite Breaks; Wellbeing Wallets; Thrive Parent & Child; Pastoral Support

SEAL education booster breaks; Residential Respite Breaks; Wellbeing Wallets; Thrive parent and Child; Pastoral support

Residential Respite Breaks; Memory Making Days; After School & Weekend Clubs online Pastoral Support; Wellbeing Grants; Healthy Eating & Nutrition Wellbeing Grants; Healthy Eating & Nutrition

21

Strategic objective 5:

Clearly defined and highly fundable projects

Due to the large-scale expansion of Honeypot’s services, especially over the past four or five years, we have had the opportunity to provide clearly defined and demarcated service packages for donors requiring a project to sponsor. These individual service packages had clear outputs, outcomes and impact goals and objectives that donors could monitor and track.

As our new services were running at a sub-optimal level, supporting far fewer children than the level of demand, opportunities for donors to champion and help upscale them arose. By providing services that served different areas of interest, Honeypot was able to span a wider range of programmes and be relevant to more funders.

For example:

Looking forward > funders can partner with Honeypot to upscale the level at which we operate these new services to meet more of the demand.

Strategic objective 6: Develop national media partnerships

Honeypot has devoted substantial resources to raising the level of awareness within the general public of the plight of unsupported young carers in the UK. We developed a range of compelling case studies of the children and families we support.

We also implemented statistically validated methods of measuring the impact of our services on the subjective and objective (psychological) improvements in the wellbeing of the children receiving our services. This information and evidence attracted the attention of the UK’s national media as a subject that the public need to know.

Looking forward > Honeypot is already in discussion with both the BBC and ITN regarding nationwide communications to make people aware of the situation of hundreds of thousands of young carers in the UK. We seek to achieve national awareness coverage.

Strategic objective 7:

HR policy of recruiting only senior fundraising, marketing and communications staff

Honeypot has pursued a strategy of recruiting only highly qualified senior fundraising and communications staff with an outstanding track record of success. This strategy has enabled Honeypot to provide the high quality service that corporates, community organisations and trusts wish to receive.

Looking forward > Honeypot will continue to run a rich staff development programme to retain our outstanding income and communications team.

----- Start of picture text -----
22
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Future Developments

Honeypot history Honeypot history Honeypot history Honeypot history Honeypot history Honeypot history Honeypot history Honeypot history Honeypot history 1996 - 1996 - 1996 - 2023: making happy childhood memories and building brighter futures 2023: making happy childhood memories and building brighter futures
1996
Initially
established
as the
Honeypot
Home
Charity
byLisa
Stratton
1996
First
Respite
Break
at Honeypot
House in
Hampshire		 2000
We start
hosting
Weekend
Respite
Breaks
2001
Honeypot
specialises in
supporting
children who
areyoung
carers		 2002
Outreach
support
launches
with our
frst
Play Bus
2003
Our1,000th
childtakes
a Respite
Break		 2007
Swimming
Poolopens
at Honeypot
House
2008
Simmi
Woodwal
joins
Honeypot
as CEO		 2009
Adventure
Playground
added to
Honeypot
House
2011
5,000th
support
sessionfor
young carers		 2021
Pastoral
Care
Servicefor
young carers
who are
struggling to
cope
2022
An army of
supporters
donate
£1M+to our
newMega
Matched
Funding
Appeal
2021
25,000th
support
sessionfor
young carers
2019
Social and
Emotional
Active
Learning
(SEAL)
service
to help
children who
underachieve
at school
2021
Delivered
frst 3-day
online
Respite
Break
during Covid
lockdown
2016
Memory
Making
Dayswhere
corporate
partners join
the children
for special
days out
2018
Radio 4
Appealby
a graduate
young carer
exceeds all
expectations
2016
10,000th
support
sessionfor
young carers
2015
Partnership
with the
England
Football
Foundation
2023
Expand
ourWrap
Round
Support
Service=
Respite +
Outreach
+ SEAL +
Wellbeing
+ Pastoral
Care +
Healthy
Eating and
Nutrition
2022
Honeypot
raises
£2.6million
the largest
sum ever
given in a
year
2023
Honeypot
commences
planning to
open a
Fourth
House
2015
Green
Days for
corporate
partners to
help with
building and
maintenance
work at our
Honeypot
Houses
2016
The
October
Club’s
charity of
the year
raising funds
to buy a
second
house
2016
Second
Honeypot
House
opens in
Pen y Bryn
Wales
2019
Partnerships
withBank
of America
and
10 Downing
Street
raising£1M+
2020
Honeypot
secures
partnerships
withover 40
companies
2021
Integration
of all
Honeypot
services into
ourWrap
Round
Support
Service=
Respite +
Outreach
+ SEAL +
Wellbeing
2021
The Masons
fund a new
service
called
Wellbeing
Grants
providing
children with
the essential
life items
they lack
2023
Healthy
Eating and
Nutrition
Service
promoting
healthy diets
2022
The biennial
Honeypot
Partyis
dedicated to
celebrating
our25th
Anniversary
raising
£600,000
2022
The Body
Shophosts
a national
Christmas
fundraising
campaign
raising over
£300,000
2023
Third
Honeypot
House
opens in
Dalleagles
East Ayrshire
Scotland

Looking ahead

The infographic above represents Honeypot’s timeline of milestones achieved and the rapid increase in the speed of change the charity is experiencing. There were as many major milestones met over the past four years as were achieved in the preceding 22 years.

The speed of growth and development of Honeypot’s services over the past four years is remarkable. Our organisation has achieved large-scale step changes in the breadth of service delivery.

More young carers are being supported by Honeypot and greater depth of impact on the needs of young carers is being delivered.

Against this backdrop of rapid growth, Honeypot looks boldly to the future with an aspirational plan to achieve further large-scale step changes in our capacity to deliver services for young carers.

In the foreseeable future we aim to support substantially greater numbers of young carers than we are currently able to do, and we aim to meet their multiple needs more comprehensively.

We must expand to meet the annual demand from tens of thousands of unsupported young carers who need our services.

We aim to follow a long term, year-on-year growth strategy to build the capacity to support many more disadvantaged young carers.

Strategic objective 1: Develop a national network of Honeypot Houses

Honeypot refurbished and prepared our new house in East Ayrshire, Scotland for the arrival of our first group of young carers in August 2023. Honeypot now has a significant presence in England, Scotland and Wales.

We ran our Houses in England and Wales at full capacity of 63 residential respite breaks and created the capacity to upscale our SEAL breaks to 19 per house, per year. We are able to run residential breaks for up to 2,000 young carers each year.

From September 2023 our house in Scotland will run at 25% capacity in year one, 50% capacity in year two and 100% capacity in year three, bringing Honeypot’s capacity to support up to 3,000 children annually through our residential respite and SEAL breaks.

By the beginning of year three of the development of our third house, Honeypot will commence the process of establishing a fourth house. This house will also run at 25% capacity in year one, 50% in year two and 100% in year three. Within five years, with all four houses running at full capacity, Honeypot will support 4,000 children yearly with residential respite and SEAL education booster breaks.

In the long-term, Honeypot aims to develop several new houses on a three to five-year cyclical basis, adding 1,000 young carers to our capacity with the completion of each cycle.

23

Strategic objective 2:

Consolidating, developing, and upscaling our relatively new support services

Over the past three to four years, Honeypot has introduced a range of new services. These included: SEAL Education Booster Breaks; Wellbeing Grants; Healthy Eating and Nutrition; After School and Weekend Clubs Online; Memory Making Days, Pastoral Support; Thrive Parent and Child, and Wellbeing Wallets.

In the short to medium term we aim to upscale these services to achieve our long term organisational strategy, which is encapsulated in two overarching strategic goals.

Honeypot’s organisational strategy:

In pursuit of this strategy, Honeypot has been focusing strongly on four key service areas:

----- 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
(SEAL) services
Wellbeing
----- End of picture text -----

We expand this diagram opposite to show the full range of services that sit within these four key service areas, and a detailed representation of all Honeypot services at the end of the 2022-23 financial year.

24

----- Start of picture text -----
Residential
Respite
Breaks SEAL
Introduction Education
of new Booster
services Breaks
Digital
and face Honeypot’s Wellbeing
to face mission to Grants
Outreach deliver integrated
Wrap-Round
support
services
Healthy
Wellbeing
Eating and
Wallets
Nutrition
Thrive
Pastoral
Parent and
Support
Child
----- End of picture text -----

Wrap-Round Support Services

> Residential Respite Breaks are stress busting respite breaks at one of our beautiful houses in rich green countryside in England, Wales or Scotland. They alleviate the anxiety a child experiences when caring for a sick or disabled family member for many hours a week. Children make happy childhood memories on a Honeypot break that they carry with them through their lives.

> SEAL Education Booster Breaks build children’s confidence to succeed when they are underachieving in school due to poor confidence and self-belief.

> Wellbeing Grant s for disadvantaged children to buy the essential life items they lack, such as a clean bed, or new school clothes.

> Healthy Eating and Nutrition support provides food for children and families on low incomes, who receive free school meals from the Government during term time, but survive on sugary drinks and snacks during school holidays when there are no free school meals available.

> Thrive Parent and Child enables parent and child to build better communication skills, and appreciate the range of personal and life skills that exist within their families in order to build confidence and self-belief in the value of the individual.

> Intensive Pastoral Support for children who are overwhelmed by caring for a sick or disabled family member, are struggling and need extra help to cope.

> Wellbeing Wallets are a series of resource cards sent to young carers to help them cope with stress and anxiety and build their confidence and self-belief.

> Digital and Face-to-Face Outreach provides after school and weekend clubs online for lonely and isolated young carers who must be at home and on hand to help a sick or disabled family member. Clubs assist young carers to build social skills and the confidence to interact with other children.

> Memory Making Days give young carers fun days out to a theme park, farm, nature reserve or the beach. These are experiences young carers never normally receive.

> Introduction of new services is a provision we make in our strategy to be sensitive and alert to urgent or essential emerging needs of young carers as they arise. Honeypot’s clear strategy is to focus strongly on our existing range of services, in order to use all our resources to upscale them to full capacity.

We do still retain a degree of flexibility in order to be responsive to emergent issues, such as the Covid pandemic or the spiralling cost of living crisis, and respond to them with services to meet the need(s) they create for young carers.

25

Strategic objective 3:

Focus on developing our model of service delivery

All at Honeypot are delighted by the degree of success that has been achieved over the past several years in our endeavours to grow both our services and the voluntary income to fund those services.

The single most important factor that has driven this success has been a clear and compelling organisational strategy underpinned by an effective model of service delivery.

Moving forward, Honeypot will continue to focus on being true to its long term organisational strategy (as summarised in strategic objectives 1 and 2 before) and continue to strengthen and develop our model of service delivery.

In summary, Honeypot’s service delivery model is based on two hypotheses >

Our holistic approach is based on the work of the American psychologist, Professor Abraham Maslow and his theory of the Hierarchy of Needs. This model states that needs lower down the hierarchy must be satisfied before individuals can attend to higher needs.

We referred to this model on page 21 in the fundraising section of this annual report. We reproduce it again here for ease of reference.

Maslow’s Hierarchy of Needs

Self-actualisation

Esteem

Love and belonging

Safety

Honeypot’s Model of Service Delivery

SEAL education booster breaks; Residential Respite Breaks; Wellbeing Wallets; Thrive Parent & Child; Pastoral Support

SEAL education booster breaks; Residential Respite Breaks; Wellbeing Wallets; Thrive parent and child; Pastoral support

Residential Respite Breaks; Memory Making Days; After School & Weekend Clubs online Pastoral Support; Wellbeing Grants; Healthy Eating & Nutrition

Physiological needs

Wellbeing Grants; Healthy Eating & Nutrition

26

Strategic objective 4:

Forming synergistic strategic partnerships with other not-for-profit organisations and forging partnerships with specialists

Honeypot has a distinct set of competencies, capabilities, resources, and infrastructure built up over nearly 30 years.

As an example, we work with over 200 referring organisations within the child welfare network, including social work teams, school pastoral care personnel, Head Teachers, GPs and district health nurses, as well as local authority care centres.

Honeypot believes in, and seeks to, forge strategic partnerships with organisations who can bring their specialisms, competences and capabilities to enhance our own in a synergistic partnership where the whole is greater than the sum of the parts.

For the future, Honeypot will continue to seek to form and work in partnership with other specialist organisations.

*t4-" I,, i.

Financial Review

Year ended 31 March 2023

The overall gross income of the charity was £2,444,119 for the 12 months ended 31 March 2023. A successful year, financially speaking, with income exceeding expectations where recruitment of staff again proved to be difficult and challenging.

The charity was very fortunate to be the beneficiary of the Betty Messenger Charitable Foundation to the extent of £700,000. This proved an enormous help to the charity in enabling it to carry on and develop its operational programmes.

The gross reported expenditure of the charity was £2,231,754 for the 12 months ended 31 March 2023, a marked increase on the previous year (31 March 2022: £1,766,145). Charitable spend in the year rocketed to 80 pence in the pound (12 months period ended March 2022: 70p). This was due, despite the challenging recruitment problems, to a substantial increase in the charity’s activity by introducing and developing two services: the Pastoral service and extending the Wellbeing service.

The charity was fortunate during the year to acquire a third property in Ayrshire, Scotland, which is completely due to the generosity of the Richard Porter Family Foundation. The charity has agreed a long lease on the property at a peppercorn rent.

Investments

The Trustees have remained cautious about investments but took the decision during the year to invest some available money into government gilts with a return of around 4%. Other spare cash continues to be kept in short notice savings accounts paying 1%–3% 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 £531,309 and operational restricted funds stand at £743,182 giving a total for operating funds of £1,274,491 (period ended March 2022: £1,218,698) or 6.8 months (period ended March 2022: 8.2 months).

It should be emphasised that, despite the challenging recruitment situation, large efforts will be made to spend down the operational restricted funds during the financial year 2023-24.

Designated funds

The bulk of the 3rd House Fund was spent during the year with renovating the new property in Scotland. Under the wishes of a donor, £300,000 was transferred from the General Fund to be used at the charity’s complete discretion for a matched funding appeal.

The overall state of the designated funds held by the charity is as follows:


charity is as follows:
Fixed Asset Fund

Third Honeypot House Fund

Fourth Honeypot House Fund

Matched Giving Fund

 £997,125
£59,287
£500,000
£300,000
£1,856,412

29

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 2023.

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.

Structure, governance and management

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

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.

The current Sub-Committees are:

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.

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.

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.

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.

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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.

ESG reporting (Environmental, Social and Governance)

The charity is currently undertaking a review of its Environmental, Social and Governance reporting under the following banners:

Overall, the charity provides a public benefit and seeks to do so in a sustainable way and by minimising any negative environmental impacts.

Current initiatives include the use of solar panels on the roof of the swimming pool at our Wales site to use clean energy and sell back excess energy to the grid.

Reducing our emissions resulting from our business operations, and increasing the use of clean energy across our sites is a significant policy goal.

Public benefit

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

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.

Approval

This report was approved by the Trustees on 2 October 2023 and signed on their behalf by:

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 2023 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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ri

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:

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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.

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Financial Statements

Statement of Financial Activities

----- Start of picture text -----
Unrestricted Restricted
31 Mar 2023 31 Mar 2022
Funds Funds
Notes £ £ £ £
Income
Donations and legacies 2 1,855,125 482,041 2,337,166 2,163,967
Other trading activities 3 76,064 - 76,064 446,134
Income from investments 2 16,659 - 16,659 3,708
Income from charitable activities 2 14,230 - 14,230 4,000
Government grants: Furlough scheme - - - -
Other income - - - -
Total income and endowments 1,962,078 482,041 2,444,119 2,617,809
Expenditure
Expenditure on raising funds 3 446,486 - 446,486 526,508
Expenditure on charitable activities 4 1,237,546 547,721 1,785,267 1,239,637
Total expenditure 1,684,032 547,721 2,231,753 1,766,145
Other recognised gains/losses
Unrealised profit/(loss) on investment assets 9 (1,207) - (1,207) -
Net movement in funds 276,839 (65,680) 211,159 851,664
Fund balances brought forward at 1 April 2022 2,110,882 1,515,064 3,625,946 2,774,282
Fund balances carried forward at 31 March 2023 2,387,721 1,449,384 3,837,105 3,625,946
----- End of picture text -----

All income and expenditure relates to continuing activities.

There were no recognised gains or losses for 2023 other than those included in the statement of financial activities.

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Balance Sheet

----- Start of picture text -----
31 Mar 2023 31 Mar 2022
Notes £ £
Fixed assets
Tangible assets 8 1,560,595 1,315,310
Investments 9 500,331 2
2,060,926 1,315,312
Current assets
Debtors 10 75,786 374,466
Short term deposits and savings accounts 1,793,441 1,754,484
Cash at bank and in hand 141,222 323,088
2,010,449 2,452,038
Creditors: amounts falling due within one year 11 (234,270) (141,404)
Net current assets 1,776,179 2,310,634
Total assets less current liabilities 3,837,105 3,625,946
Net assets 3,837,105 3,625,946
The funds of the charity:
Unrestricted funds
General funds 16 531,309 490,075
Designated funds 16 1,856,412 1,620,807
2,387,721 2,110,882
Restricted funds 17 1,449,384 1,515,064
Total charity funds 3,837,105 3,625,946
----- End of picture text -----

The financial statements on pages 34 to 45 were approved by the Board of Trustees on 2 October 2023 and signed on their behalf by:

Laurie Oppenheim Chair of the Board of Trustees

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Statement of Cash Flows

31 Mar 2023 31 Mar 2022
Notes £ £
Net cash provided by operating activities
15
732,315
727,264
Cash fows from investing activities:
Interest income
16.659
3,708
Net (additions)/disposal of tangible fxed assets
(390,347)
(24,315)
Net (additions)/disposal of investment income portfolio
(501,536)
-
Net cash provided/(used) by investing activities (875,224) 20,607
Increase (decrease) in cash and cash equivalents in the year (142,909) 706,657
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2,077,572
1,934,663		 1,370,915
2,077,572

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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 Purchase of gilts

The Trustees approved the purchase of government gilts as a means of making reasonable use of surplus cash funds. The Trustees continue to be very cautious with investments. A small range of gilts were purchased with redemption dates between 2026 and 2028.

1.11 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.

1.12 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.

1.13 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.

1.14 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.

1.15 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.

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.

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2. Income

----- Start of picture text -----
31 Mar 2023 31 Mar 2022
£ £
Trust & Grants 1,124,137 787,956
Corporate donations 631,372 652,525
Individual donations 479,351 628,353
Community fundraising 102,305 95,133
Total donation and legacy income 2,337,165 2,163,967
Interest receivable on deposit bank accounts 16,659 3,708
Total income from investments 16,659 3,708
Other contributions 14,230 4,000
Total income from charitable activities 14,230 4,000
----- End of picture text -----

3. Expenditure on raising funds

----- Start of picture text -----
Activities
Support
undertaken 31 Mar 2023 31 Mar 2022
costs
directly
£ £ £ £
Donation and legacy income 2,337,165 - 2,337,165 2,163,967
Cost of generating donation and legacy income (217,836) (119,839) (337,675) (424,278)
Net donation and legacy income 2,119,830 (119,839) 1,999,490 1,739,689
Other trading activities income 76,064 - 76,064 446,134
Cost of generating trading activity income (47,941) (60,870) (108,811) (102,230)
Net fundraising events and hire of facilities income 28,123 (60,870) (32,747) 343,904
Total fundraised income 2,413,229 - 2,413,229 2,610,101
Total costs on raising income 265,777 (180,709) (446,486) (526,508)
Net donation, legacy & fundraising income 2,147,452 (180,709) 1,966,743 2,083,593
----- End of picture text -----

4. Expenditure on charitable activities

----- Start of picture text -----
Activities
Support
undertaken 31 Mar 2023 31 Mar 2022
costs
directly
£ £ £ £
Respite breaks and digital outreach 1,357,923 427,334 1,785,267 1,239,637
Total charitable expenditure 1,357,923 427,334 1,785,267 1,239,637
----- End of picture text -----

During the year there was £547,721 of restricted charitable expenditure (year ended March 2022: £688,321).

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5. Support costs

----- Start of picture text -----
Fundraising:
Fundraising: Charitable
Donations 31 Mar 2023
Events activities
& Legacies
£ £ £ £
Finance, audit and payroll costs 28,557 14,279 99,951 142,787
Executive and professional costs 60,329 30,165 218,961 309,455
Premises and IT costs 26,234 13,117 91,821 131,172
Other office support costs 4,719 3,309 16,611 24,639
Total support costs 119,839 60,870 427,344 608,053
----- End of picture text -----

6. Staff costs, Trustee remuneration and expenses, and the cost of key management personnel

----- Start of picture text -----
31 Mar 2023 31 Mar 2022
£ £
Wages and salaries 1,282,602 984,815
Social security costs 127,532 96,842
Pension costs (money purchase scheme) 58,359 41,457
Total staff costs 1,468,493 1,123,114
----- End of picture text -----

During the year, five employees received remuneration greater than £60,000: one in band £100-110k, one in band £80-90k, three in band £60-70k (year ended March 2022: one in band £110-120k, one in band £70-80k, two 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 2023 were £415,187 (year ended March 2022: £375,615).

Trustees neither received nor waived any emoluments during the year. Trustee travel expenses during the year were: £nil (year ended March 2022: £nil).

7. Staff numbers

The average number of employees analysed by function was:

----- Start of picture text -----
31 Mar 2023 31 Mar 2023 31 Mar 2022 31 Mar 2022
Full-time Part-time Full-time Part-time
Charitable activities 17 24 12 16
Cost of generating funds 6 2 6 2
Management and administration 2 3 2 4
Total number of employees 25 29 20 22
----- End of picture text -----

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8. Tangible fixed assets

----- Start of picture text -----
Freehold Fixtures
Motor
land & & Equipment 31 Mar 2023
vehicles
buildings fittings
£ £ £ £ £
Cost
At 1 April 2022 1,510,360 308,365 161,595 153,073 2,133,393
Additions - 373,161 17,186 - 390,347
At 31 March 2023 1,510,360 681,526 178,781 153,073 2,523,740
Depreciation
At 1 April 2022 300,303 269,701 149,007 99,072 818,083
Charge for the year 26,207 92,941 12,414 13,500 145,062
At 31 March 2023 326,510 362,642 161,421 112,572 963,145
Net book value
At 31 March 2023 1,183,850 318,884 17,360 40,501 1,560,595
At 31 March 2022 1,210,057 38,664 12,588 54,001 1,315,310
9. Fixed asset investments
31 Mar 2023 31 Mar 2022
£ £
(1) Government gilts purchase 499,155 -
Other cash and income 2,381 -
Book value of investment at 31 March 2023 501,536 -
Unrealised investment losses at 31 March 2023 (1,207) -
Market value at 31 March 2023 500,329 -
Original cost at 31 March 2023 500,000 -
(2) Unquoted UK investment at cost 2 2
At 31 March 2023 500,331 2
----- End of picture text -----

(1) The charity, through its Manchester-based stockbroker, Arnold Stansby & Co Ltd, invested £500,000 in purchasing two Government gilts for the sum of £499,155 with £845 in cash held over. By 31 March 2023 the gilts had earned £1,536 in income and had an unrealised loss on the investment of £1,207. The market value of the investment as at 31 March 2023 was £500,329.

(2) 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 2023 was £nil. The company was dormant throughout the year.

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10. Debtors and prepayments

----- Start of picture text -----
31 Mar 2023 31 Mar 2022
£ £
Trade debtors 9,533 232,174
Accrued income 11,461 50,466
Tax repayment claim 13,294 34,277
Other debtors 8,724 17,282
Prepayments 32,774 40,267
Debtors: amounts falling due within one year 75,786 374,466
----- End of picture text -----

11. Creditors: amounts falling due within one year

----- Start of picture text -----
31 Mar 2023 31 Mar 2022
£ £
Trade creditors 29,520 64,768
PAYE & National Insurance 33,886 32,357
Other creditors 8,197 12,044
Accruals 149,184 29,995
Deferred income 13,483 2,240
Creditors: amounts falling due within one year 234,270 141,404
----- End of picture text -----

12. Deferred income

Deferred income comprises advance sponsorship donations received in the year relating to the London Marathon (taking place in April 2023), and other events.

----- Start of picture text -----
£
Balance as at 1 April 2022 2,240
Amount deferred in year (2022 London Marathon and 2022 Hampshire golf event) (2,240)
Amount deferred in year (2023 London Marathon) 13,483
Balance as at 31 Mar 2023 13,483
----- End of picture text -----

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13. Operating lease commitments

At 31 March 2023 the charity had commitments under a non-cancellable operating lease on land, buildings and motor vehicles as follows:

----- Start of picture text -----
31 Mar 2023 31 Mar 2022
£ £
Due within 1 year 6,646 23,935
Due between 2-5 years 20,207 -
Total lease commitments 26,853 23,935
----- End of picture text -----

Total spent in the year on operating leases was £32,533 (year ended March 2022: £70,518).

14. Analysis of net assets between funds

----- Start of picture text -----
Restricted Designated General Total
Funds Funds Funds Funds
£ £ £ £
Fund balances at 31 Mar 2023 are represented by:
Tangible fixed assets 563,471 997,125 - 1,560,596
Investments - - 500,331 500,331
Current assets 885,913 859,287 265,249 2,010,449
Current liabilities - - (234,271) (234,271)
Total funds 1,449,384 1,856,412 531,309 3,837,105
----- End of picture text -----

15. Reconciliation of net movement in funds to net cash flow from operating activities

----- Start of picture text -----
31 Mar 2023 31 Mar 2021
£ £
Net movement in funds 211,159 851,664
Add back depreciation charge and loss on disposal 145,062 74,887
-
Add back losses/(gains) on investment assets 1,207
Deduct investment income (16,659) (3,708)
(Increase)/decrease in debtors 298,680 (256,904)
Increase/(decrease) in creditors 92,866 61,325
Net cash used in operating activities 732,315 727,264
----- End of picture text -----

45

16. Unrestricted funds

----- Start of picture text -----
31 Mar 2022 Income Expenditure Transfers 31 Mar 2023
£ £ £ £ £
General Reserve 490,075 1,962,078 (1,583,658) (337,186) 531,309
Designated Funds
Fixed Asset Fund 708,359 - (101,581) 390,347 997,125
Third Honeypot House Fund 382,448 - - (323,161) 59,287
- - -
Fourth Honeypot House Fund 500,000 500,000
Matched Giving Fund - - - 300,000 300,000
Continuing Operations Fund 30,000 - - (30,000) -
1,620,807 - (101,581) 337,186 1,856,412
Total unrestricted funds 2,110,882 1,962,078 (1,685,240) - 2,387,721
----- End of picture text -----

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

----- Start of picture text -----
31 Mar 2022 Income Expenditure Transfers 31 Mar 2023
£ £ £ £ £
Respite breaks & outings 380,895 191,991 (1,562) (325,924) 245,400
SEAL breaks 347,728 211,740 - (112,000) 447,468
Children’s Breaks Fund 728,623 403,731 (1,562) (437,924) 692,868
-
Wellbeing Fund 21,682 63,000 (34,367) 50,315
-
Wellbeing Fund 21,682 63,000 (34,367) 50,315
Equipment Fund 764,759 15,310 (86,040) 12,172 706,201
Equipment Fund 764,759 15,310 (86,040) 12,172 706,201
Total restricted funds 1,515,064 482,041 (121,969) (425,752) 1,449,384
----- End of picture text -----

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17. Restricted funds (cont)

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 to allow the beneficiaries of the charity the opportunity to access small grants up to the value of £250 to assist them in their day-to-day lives.

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

18. Pension contributions

The amount outstanding at the year end was £8,197 (year ended March 2022: £12,038).

19. Related party transactions

The amount of charitable donations from Honeypot Trading Ltd, the 100% subsidiary, was £nil (year ended March 2022: £nil).

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 £12,000 (year ended March 2022: £7,331) and payroll bureau fees of £4,250 (year ended March 2022: £3,600).

22. Acquisition of the Scotland house - known as Dalleagles

The charity acquired a third house situated in Ayrshire, Scotland for the use of respite breaks. The property was acquired by the Richard Porter Family Foundation and leased to the charity on a long-term peppercorn rent. This was achieved in September 2022, and formally opened on 5 July 2023 after the property had been fully renovated.

47

The Honeypot Children’s Charity 227 Shepherd’s Bush Road London W6 7AS

www.honeypot.org.uk

Charitable Incorporated Organisation England and Wales (No. 1184132) Scotland (No. SC052213)

48