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2024-03-31-accounts

The Honeypot Children’s Charity Annual Report & Accounts: Year Ended 31 March 2024

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Contents

Activities & Objectives 4
A Message from our Chief Executive 6
Service Delivery & Output 8
Honeypot Case Studies 14
Service Delivery Impact 16
Your Support over the Past Year 24
Fundraising & Communications 25
Financial Review 33
Statement of Trustees’ Responsibilities 34
Independent Auditor’s Report 36
Financial Statements 39

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 (resigned 23 June 2023) Verne Grinstead Natalie Rebeiz Tom Putter Andrew Chalkley (resigned 23 June 2023) Oliver Harrison

Leadership Team

Simmi Woodwal Chief Executive Phil Gellhorn Director of Finance Anthony Cummings Director of Income Generation Jenny Ray Director of Strategic Development and Interim Director of Operations

Elaine Hiskett Personnel Manager

Auditors

Knox Cropper LLP 5th Floor 65 Leadenhall Street London EC3A 2AD

Bankers

Barclays Bank 1 High Street Bracknell RG12 1DR

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Honeypot House, Hampshire

Honeypot Pen y Bryn, Powys

Honeypot Dalleagles, East Ayrshire

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Activities & Objectives

f Wellbeing Services

Our Organisation

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

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 in the long term to support 10,000 young carers annually with an early intervention, holistic, multi-support basket of Wrap-Round services that meet a wide range of needs. The number of young carers coming to Honeypot continues to rise.

Honeypot provides healthy eating and nutrition, to ensure mealtimes for young carers comprise of healthy, nutritious meals and good eating habits are learned and acquired from an early age.

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 six key areas of support:

f 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.

f Residential Respite Breaks

We also provide resources to assist young carers to develop coping strategies for stress, anxiety, worry and low self-esteem. Receipt of these resources often creates the pathway for a young carer or vulnerable child to access other support from Honeypot.

These stress-busting breaks have been at the heart of Honeypot for nearly 30 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 houses throughout Great Britain so that a young carer living anywhere in the United Kingdom can access our services.

f Social and Emotional Active Learning (SEAL)

Young carers aged 5 to 12 years have been hidden. They have been hidden from government funded services and from widescale public philanthropic support.

A SEAL education booster 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.

Leading research, and reports that aim to identify the issues facing carers and the services needed to support carers, mostly focus on adult and young adult carers.

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

Through nearly 30 years of providing services for young carers across large geographical areas of England, Wales, and Scotland, Honeypot has acquired a deep understanding of the issues hampering their ability to experience happy childhood memories and build brighter futures.

Stage 3: Post-residential, where the Honeypot 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.

f Digital and Face to Face Outreach

We employ this understanding and insight to give young carers a voice, with the aim of ensuring that their needs are considered and provided for at national, regional and local governmental levels, and that our tried and tested model of best service practice for meeting these needs is disseminated and adopted.

Young carers are often lonely, isolated, and socially excluded. We provide them with group activities online to facilitate shared life experiences, to connect, make friends, and access peer support. We also provide Memory Making Days where inner-city children can experience the joys of visiting a farm or the beach.

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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 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 in the short and longer term.

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A Message from our Chief Executive

A Year of Strong Strategic Focus

Over the past year Honeypot has achieved remarkable successes. In pursuit of our strategic objective of greater breadth of support for young carers, Honeypot reached an all-time high, with 4,720 children receiving Honeypot’s services over the past year.

In pursuing our other strategic objective of greater depth of support for young carers, Honeypot services enabled nearly 100% of all the children who received our services to experience substantial or significant improvements in their mental wellbeing and happiness.

These outstanding results were achieved against a backdrop of extremely challenging circumstances: double digit inflation, a cost-of-living crisis that impacted severely not just on Honeypot but the whole charitable sector, the lingering scars of Covid lockdown still causing poor mental health and reduced wellbeing of a generation of children, and young carer families on a financial tightrope experiencing severe deprivation.

The Trustees, senior leadership team, and management of Honeypot conducted a ‘deep dive’ to identify how these outstanding results were achieved in the face of such severely challenging circumstances.

The single greatest driver of Honeypot’s success was its laser sharp focus on relentlessly following its five-year strategy. The year past was the fourth year of this strategy, one which had consistently delivered remarkable improvements year on year. It is my pleasure to share with you key features of this strategy.

A Focus on the Fundamentals

There were three key fundamentals that underpinned the success of our strategy in 2023/24:

Honeypot continued its commitment to delivering a package of holistic Wrap-Round services, which met the multiple needs of young carers. Our services reduced anxiety and stress, alleviated loneliness, and isolation, built confidence and self-esteem, and provided essential items no child should be without. Our multi-service model delivered greater positive benefits to young carers than a single service or limited range of services.

In the Service Delivery Output and Impact sections of this report is an outline of how Honeypot’s range of nine interlacing support services greatly enhanced the number of young carers we were able to support. There are also details of how these services provided greater positive impact on the wellbeing and happiness of young carers.

I pay heartfelt tribute to Honeypot’s dedicated service teams for delivering these life enhancing benefits for young carers. I sincerely thank the hundreds of governmental organisations, local authorities, health bodies, social work teams, schools and other organisations within the UK child welfare network who worked in partnership with Honeypot to deliver this success.

Over the past three years Honeypot has pursued a strategy of expanding and diversifying the range of income sources it relies upon to fund our services, beyond its traditional three main sources, namely income from corporates, from Trusts and Foundations, and from community groups and individuals.

You will read in the Fundraising & Communications section of this report how key ‘new’ income sources, such as our appeals and government funding, became, after three years of consistent income generation, stable and sustainable core sources of funding. £1 in every £5 we raise now comes from these income sources.

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Additionally, in the Fundraising & Communications section we demonstrate how we continued this process of developing new income streams. We report how activities commenced to build strong foundations for the future growth of our Patrons Club, with the aim of securing funding from high-net-worth philanthropists. We anticipate this campaign will yield substantial income in the coming years.

Honeypot launched a new legacy campaign to redress the under-provision of legacy income received, compared to many children’s charities. The work, conducted over the past year, is anticipated to yield substantial income in the coming years.

I pay tribute to our skilled and trusted fundraising and communications team. Their high-octane networking, reaching out and engaging tens of thousands of potential and actual supporters over the past year, ensured Honeypot was in the hearts and minds of larger segments of the British public. This was undertaken with creativity, innovation, and warmth.

Sincere thanks to each and every corporate, trust, major philanthropist, organisation, legator and individual who donated over the past year. The number of supporters topped several thousand.

Special thanks to St George and The Berkeley Foundation, Richard Porter Family Foundation, Mr Simon Clarke and the Spoilt Ramblers, Tresanton Trust, POM Trust, Barry and Peggy High Foundation, Girdlers Company Charitable Trust, and Addleshaw Goddard.

Special thanks also to the thousands of individual donors who supported our appeals. Together, they provided the single largest source of funding in 2024. We thank the Big Give for being a consistent pillar of support for our matched funding appeals over many years, helping to raise a cumulative amount that exceeds £500,000. Thanks also to Charity Extra for hosting a large annual appeal.

BBC Radio 4 hosted a Honeypot matched funding appeal over the past year, which raised one of the highest sums achieved by any charity. It was especially poignant that, Jaiden, who was a Honeypot young carer in his childhood, made the appeal as a young adult. Jaiden shared the challenges he faced when caring and gave insights into the essential support Honeypot gave to help him cope and thrive.

None of these matched funding appeals would have been possible without The Betty Messenger Charitable Foundation who generously matched £1 for £1 every donation made to our appeals.

f Skilful management and deployment of Honeypot’s finances

Honeypot has benefitted greatly from record breaking financial support over the past three years. This support enabled Honeypot to build financial reserves effectively managed by Honeypot’s finance team, enabling several new services to become embedded within our core offering, as well as providing funds to enhance and expand long standing core services.

Service growth and consolidation was achieved while maintaining our strategic financial goal of retaining up to six months of free reserves.

Honeypot is now in a much stronger position to attract greater financial support from a wider range of Trusts and Foundations, corporates, government funding programmes, organisations, and individuals who fund work over a range of philanthropic priorities.

Our services are now relevant and attractive not just to funders who wish to support young carers, but also funders who wish to redress inequality in education opportunities and provide children who need additional education boosters.

Honeypot is also attractive to funders who wish to redress material lack and increase mental wellbeing, or alleviate loneliness, isolation, and exclusion. Without the skilful management of finances, Honeypot would not have been able to expand its range of services.

You will read in the Financial Review and Financial Statements sections how our restricted and designated reserves were managed and allocated.

I pay tribute to our skilled finance team who achieved the balance of financial stability and sustainability, while prudently providing the funds to achieve growth and expansion.

Honeypot is immensely fortunate to have the support of a highly committed and loyal Board of Trustees, who bring a wealth of knowledge, wisdom, insight, and experience to our organisation. They span several sectors, including finance, business, psychology, marketing and communications.

Our Trustees provide a guiding hand to our organisational strategy, enabling it to be strategic, measurable, achievable, realistic, and timely. Without our Trustees input, Honeypot’s strategy would not perform as well as it has. Sincere thanks to all Honeypot’s Trustees.

Simmi Woodwal Chief Executive

The relentless and unstinting pursuit of Honeypot’s strategy carried us through the tough times of 2023/24, leaving our charity even stronger.

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Service Delivery & Output

Our Strategic Approach

This section reflects the completion of the fourth year of Honeypot’s five-year strategy. The strategy was predicated on three key objectives:

Strategic Objective 1: Building a diversified range of support services, known as our Wrap-Round Service.

Strategic Objective 2: Achieving greater breadth of service support (reaching more young carers) and greater depth of service support (meeting their needs more impactfully).

Strategic Objective 3: Sharing and promoting our best practice service model, to indirectly support many more young carers.

Our overarching strategic objective for service output reflected our organisation’s vision for young carers:

A continuous improvement process to achieve = greater breadth of support for young carers (supporting more young carers) + greater depth of support for young carers (meeting their needs more impactfully).

In 2024, our overarching strategic objective was achieved: 4,720 young carers supported (3,518 in 2023) + 100% improvement in wellbeing (as discussed in our service impact section).

Achieving Strategic Objective 1: Building a diversified range of services

Our diversified services strategy is built on the theory of the Hierarchy of Needs model identified by Professor Abraham Maslow. This theory posits that to effectively fulfil a person’s high-level needs, such as self-actualisation and being all one can be, lower-level needs must first be met, such as social acceptance and belonging.

Maslow’s Hierarchy of Needs

Today, Honeypot provides young carers and other disadvantaged children with an early intervention, holistic, multi-support service which meets more of their needs. The diagram below shows how our diverse services met different levels of need across the different levels of Maslow’s theory of the Hierarchy of Needs.

Honeypot’s Response

SEAL Education Booster Breaks; Self-actualisation Residential Respite Breaks; Wellbeing Wallets; Desire to be all one can be Parent & Child Workshops; Pastoral Support SEAL Education Booster Breaks; Esteem Residential Respite Breaks; Wellbeing Wallets; Self-esteem, respect, status, recognition Parent & Child Workshops; Pastoral Support Residential Respite Breaks; Love and belonging Memory Making Days; Friendship, sense of connection Digital Group Activities Pastoral Support; Safety Wellbeing Grants; Resources, health Healthy Eating & Nutrition Physiological needs Wellbeing Grants; Food, clothing, sleep Healthy Eating & Nutrition

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Achieving Strategic Objective 2: Greater breadth and depth of service support

Throughout the past year Honeypot consistently assessed, surveyed and measured the outputs of our services, and the depth to which our services positively impacted the lives of young carers.

Honeypot believes the evidence we recorded and collected demonstrates the efficacy of this holistic, multi-service model. We present some of these measures in this section and in the next Service Impact section.

Our expanded services supported 4,720 young carers over the past year, an increase of 36% over the previous year, which was also an improved output. This is the largest number of young carers and vulnerable children Honeypot has ever supported.

There are many more young carers who need support but do not receive it. Being able to support more young carers is the driver for our growth and expansion.

Achieving Strategic Objective 3: Disseminating and encouraging adoption of our early intervention, holistic, multi-service model

Honeypot is immensely ambitious about young carers. We wish to support tens of thousands, with services that enrich and transform lives. Honeypot is however physically constrained. Our houses running at maximum capacity can provide respite breaks for 2,268 young carers over 12 months.

We run three-day respite breaks every week, and respite breaks back-to-back, with four-day SEAL breaks for most weeks. Our SEAL break, when eventually running from all our houses, cannot provide support for more than 720 children.

In order to overcome these constraints, Honeypot aims to disseminate and promote the adoption of our early intervention, holistic, multi-service support model with government and with a wide range of stakeholders within the UK’s child welfare network.

Our long term developmental goal is to share this model and the supporting evidence of its efficacy with children’s charities, government commissioners, policy makers, and statutory organisations such as schools, to work with Honeypot to support tens of thousands more young carers and disadvantaged children.

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Our Individual Services

Since 1995 Honeypot has been dedicated to enhancing the lives of young carers aged 5 to 12 years old. If left unsupported, young carers run the risk of sacrificing their childhood and the chance to build a productive, fulfilling future due to caring for a sick or disabled parent or sibling for as much as 30+ hours a week.

They voluntarily assume these responsibilities at an age when they should be focusing on their own growth and development. These young carers support parents or siblings with chronic illnesses, disabilities, mental health issues, or substance dependencies, facing challenges that can impact on their education, emotional wellbeing, and social opportunities.

Wrap-Round Services for Lasting Change and Immediate Support

Honeypot provides an integrated and mutually reinforcing range of early intervention services, known as Wrap-Round services. These services are designed to support young carers holistically, addressing their diverse needs and enhancing their overall wellbeing.

They include regular respite breaks at a Honeypot house in England, Wales or Scotland, where children can enjoy a unique environment and experience the opportunity of everything and everyone being dedicated to helping nurture and support them.

Our respite breaks provide both recreational activities and social developmental activities that enable the children to learn the skills of forging friendships, in a safe, nurturing environment. With the high staff to child ratio, 1:4, on a break the children receive personal support to learn new skills such as swimming or cycling or speaking in front of a group.

Additionally, Honeypot also organises educational and enrichment workshops and activities, which focus on the development of life skills, confidence-building, and acquiring academic skills.

We provide children with a comprehensive range of Wrap-Round services designed to support lasting change and address their immediate needs:

Residential Respite Breaks

Respite breaks provide greatly needed relief from the stresses of caring, offering a much-needed escape from the daily responsibilities of looking after a sick or disabled family member. These breaks allow young carers to relax, recharge, and engage in enjoyable activities, promoting their overall wellbeing.

During respite breaks, they have the opportunity to connect with peers facing similar life challenges, fostering a sense of community and peer support. These experiences not only give young carers a break from their caregiving duties but also help them develop new skills, build self-esteem, and create happy lasting childhood memories.

Young carers return from respite breaks to their roles with renewed energy and a positive outlook, better equipped and better able to cope with caring. We help young carers to balance their caregiving responsibilities with their own personal growth and development.

From April 2023 to March 2024, Honeypot provided 129 respite breaks and welcomed 1,424 children to our houses.

By offering a range of holistic and synergistic integrated services, Honeypot ensures that young carers receive life enhancing support to enable them to be all they can be. Our services consistently aim to empower young carers to balance their caregiving responsibilities with their own personal development and happiness.

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Social Emotional Active Learning Booster Breaks

Social Emotional Active Learning (SEAL) is a vital component of our service offering, aimed at fostering the social and emotional development of children.

Honeypot’s approach combines interactive and experiential learning activities in the very rich child friendly environment of a Honeypot house, away from their home or school. These breaks help children build essential skills such as self-awareness, emotional regulation, empathy, and effective communication.

Through a focused curriculum, which includes adaptable indoor and outdoor sessions, and using group discussions and collaborative projects, children engage in activities that mirror real-life situations, empowering them to practice problem-solving and conflict resolution in a supportive environment.

SEAL not only enhances emotional literacy but also promotes a positive culture where mutual respect and understanding thrive, and these skills can be translated back into the school environment.

We are proud to offer schools our SEAL educational booster programme, which is quality-assured and recognised by Hampshire County Council.

Honeypot holds the Learning Outside the Classroom Quality Badge endorsed by the Department of Education. This badge validates the learning content and recognises the high standards of safety that organisations provide for children who access their services.

Our SEAL programme is delivered over three to four weeks. Honeypot ensures all participating schools have convenient and well timed pre and post SEAL collaboration sessions that harmonise the learning needs the school has identified the children have, with the SEAL content the children receive at Honeypot. This process ensures that every SEAL experience is tailored to the specific needs of each child.

From April 2023 to March 2024, Honeypot provided 33 SEAL breaks for 384 children.

Digital Workshops

Honeypot’s digital workshops offer a flexible and accessible means of supporting young carers in groups that are geographically widespread. These online sessions cover a range of activities, such as baking, arts and crafts, and drama.

By participating in interactive virtual group activities, young carers connect with peers who share similar life challenges. This experience helps to reduce the loneliness and isolation of caring. The digital format allows them to engage in these workshops at convenient times for them, and at times that accommodate their caring schedules.

These workshops are delivered by skilled practitioners, who are adept at encouraging children with low selfesteem to find their voice and confidence to engage and contribute to group activities. Digital workshops empower young carers.

Memory Making Days

Most of the young carers Honeypot supports do not have access to the experience of a fun day out with family. Many inner city young carers have never visited the countryside, a beach, or a nature park.

Honeypot’s Memory Making Days offer disadvantaged young carers fun day out experiences where all their needs are provided for throughout the day. Our Memory Making Days enable young carers to create happy lasting memories.

By participating in a Honeypot Memory Making Day, young carers experience new adventures, build friendships, and enjoy themselves devoid of the weight of their usual duties. These experiences help boost the children’s emotional wellbeing and self-esteem.

Memory Making Days emphasise the importance of self-care and leisure, reinforcing the idea that young carers deserve time for themselves to relax and have fun, just like their peers. Participants leave knowing that they are valued as individuals.

From April 2023 to March 2024, Honeypot provided 26 Memory Making Days for 372 children .

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Pastoral Services

Pastoral Services play a crucial role in supporting the emotional and psychological wellbeing of young carers. These services provide a compassionate and understanding environment where young carers can express their feelings, discuss their challenges, and receive personalised support.

Through regular check-ins, Honeypot’s pastoral team helps young carers to develop coping strategies, build resilience, and improve their mental health. These services include guidance about managing the complexities of their caregiving roles, fostering a sense of stability and security.

By addressing the emotional needs of young carers, our Pastoral Services ensure that these children receive the support they need to thrive both in their caregiving duties and personal lives.

We provide non-urgent wellbeing support for children and their families before their feelings of being unable to cope grow into a life crisis. Honeypot signposts children and families to specialist services and assists young carers and their families to access statutory support and support offered by specialist non-profit organisations. The families who receive our Pastoral Services are those not already supported through complex statutory provision.

Our Pastoral Services provide wellbeing resources, which we distribute to thousands of children. These materials help young carers to work independently, or with their parent or a teacher, to develop coping strategies for stress, anxiety, worry and bullying. Through these resources Honeypot encourages further engagement with our Pastoral team.

Our Pastoral Services have achieved numerous successes, such as:

These achievements have involved coordinated efforts with families, social workers, teachers, and other professionals as part of our approach of working with multi-disciplinary teams.

We continue to support families through difficult and distressing circumstances; a service of great value which is not easily quantified. Families regularly express deep appreciation for our Pastoral Services.

Wellbeing Grants

Honeypot provides Wellbeing Grants, up to the value £250, to support young carers and their families to purchase items no child should be without, such as new clothes for school or a clean new bed.

The fund also aims to help young carers overcome social isolation, achieve educational progress, or support their emotional wellbeing. Through this fund, we have provided items and services such as horseriding therapy, laptops, trampolines, cabin beds, a writing desk and chair for a child who needed a quiet place to do their homework.

Our Wellbeing team seeks to ensure that children and families receiving Wellbeing Grants feel valued and their unique circumstances are understood and addressed with great sensitivity.

From April 2023 to March 2024, Honeypot distributed 220 Wellbeing Grants .

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Healthy Eating and Nutrition

Parent and Child Workshops

The Healthy Eating and Nutrition Service is dedicated to promoting the physical and emotional health of young carers through nutritional education and support. This service comprises:

Parent and Child Workshops provide an invaluable opportunity to strengthen family bonds and support early childhood development.

These workshops are designed to engage both parents and young children in activities that foster learning, communication, and emotional connection.

Through playful and educational exercises, parents gain insights into their children’s developmental needs and learn effective strategies to support their growth.

Food vouchers aim to improve dietary habits and overall health of young carers and their families. By providing food vouchers, this service ensures that families have access to fresh, nutritious ingredients essential for preparing balanced meals.

Experienced staff provide engaging activities and guided discussions, where families can learn effective coping strategies, improve their problem-solving skills, and enhance their emotional resilience.

These sessions also offer a platform for parents to share experiences, ask questions, and receive guidance from staff and their peers.

Alongside the vouchers, young carers and their families receive practical guidance and resources on healthy eating, including recipes, meal planning tips, and nutritional education.

By participating in these workshops, families can create a supportive home environment that enhances the child’s school experience, building a foundation for lifelong learning and strong family relationships.

The healthy eating and nutrition workshops that we run during respite breaks are designed to engage children and their families in interactive learning experiences, emphasising the importance of nutrition and balanced meals to overall wellbeing.

Ultimately, the Healthy Eating and Nutrition Service empowers young carers and their families to adopt healthier lifestyles, fostering long-term benefits for their physical and mental health. Reflecting our early intervention service model, Honeypot aims to help young carers and vulnerable children develop healthy eating habits at an early age so that they remain with them for a lifetime.

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Honeypot Case Studies

Jaiden’s Story

Aged 12...

Jaiden cares for his mother, Sheila, around the clock. Sheila has lupus, respiratory, and mobility problems.

They live in a crime-ridden neighbourhood in Croydon, where knife crime is rife. Jaiden is the flip-side of the knife crime generation. He is caring, loving, responsible, selfless.

Jaiden loves coming to Honeypot House where he is the basketball king! He loves seeing his friends and enjoying the beautiful, fresh countryside estate of Honeypot House.

Like all children, Jaiden has hopes and dreams. He dreams of being an artist when he is older.

Aged 18...

Jaiden, now immersed in his studies, has a deep passion for acting. Once he completes his education, he aims to pursue a career in drama and become a professional actor.

Recently, Jaiden represented Honeypot in a Radio 4 fundraising appeal and starred in a short film with Lambeth Council, focusing on the eradication of violence against women.

He has just excelled in his A-Levels and will be going to Bath Spa University to study Drama and Acting.

Reflecting on his experiences with Honeypot, Jaiden says, “At Honeypot, I got to experience things I had never done before, including meeting the Prime Minister. It gave me the belief that I can achieve anything I set my mind to.”

Jaiden continues to support Honeypot and recently participated in a Memory Marking Day at the theatre with a group of young carers from Barnet. Many young carers now look up to him and are inspired to pursue their own goals, following in his footsteps.

Scan the QR code to watch a short film about Jaiden when he was 12

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Honeypot isn’t just a charity or after-school club, to us as a family it is so much more!

Leah’s Story

Leah, aged 7, helps care for her Mum, Sally, who has multiple seizures a day. She helps with everything including mobility, getting dressed, and other essential day-to-day tasks. She is a major emotional support and is always there when Mum needs her. Leah is her rock!

Leah has struggled with coming to terms with having a disabled parent, often bullied by her peers, saying she “didn’t have a real Mum” . She became very reclusive and struggled with school and socialising.

On her first break to Honeypot Leah experienced swimming for the first time. She made friends through the many amazing activities she enjoyed, from crafting to pizza making. She found a place where she could relax and be herself.

Mum says, “Leah has come to appreciate her own self worth, thanks to the one-to-one support of Honeypot’s amazing team. She felt like a superhero, her superpower being a young carer, so only she could access the super headquarters!”

Leah and her older sister, Izzy, have accessed many of Honeypot’s services, which are tailored to each child. They have attended several respite breaks, building confidence, resilience and making many happy memories each time.

They have joined amazing Memory Making Days, such as trips to activity parks or skiing, having experiences they otherwise wouldn’t have. Leah has also benefited from Honeypot’s Wellbeing Fund, with a brand new bike so she can learn how to ride!

The memories are pride of place in Leah’s bedroom; keep-sakes such as photos of her with Honeypot team member, Tangie, reminding her of the many happy memories she has in her magical place.

Leah loves receiving the birthday cards, Christmas fun books and regular Wellbeing Wallets that Honeypot sends. “They remind her she is special, not only to us as her parents, but to Honeypot too,” says Mum.

Scan the QR code to watch a short film about Leah and her family

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Service Delivery Impact

Honeypot’s Methodology and Strategy for Measuring and Developing Impact

Impact is defined as the measurement of the extent to which an organisation’s services achieve positive improvements in the lives of the beneficiaries it serves.

Honeypot employs a precise theory of change which defines the relationships between its Inputs, processes, outputs, and outcomes. A summary of Honeypot’s theory of change is presented below:

INPUTS: PROCESSES: f Resources f Service activity f Partnerships f Budgeting f Funding f Planning f Staff f Strategy f Volunteers f Operational plans f Stakeholders f Continuous f Models of best improvements practice f Measurement f Research f Analysis f Referring f Feedback loops organisations

OUTPUTS: OUTCOMES: f Actual services f Strategic delivered f Measurable f Numbers of young f Realistic carers supported f Achievable f How they were f Timely supported improvements in f Geographical reach the lives of young f Demographic carers as a result spread of receiving our services

Honeypot has been building its impact measurements over several years, in the following ways:

Please refer to the case study on page 14 which relates how, with Honeypot’s support, a young carer called Jaiden, who was referred to Honeypot six years ago, progressed from experiencing feelings of loneliness and isolation to being the confident young adult he is today, fulfilling his hopes and dreams.

This report highlights the transformational role Honeypot’s support services play in the lives of young carers, the challenges these children face, and the impact of Honeypot’s programmes in fostering a supportive environment where young carers can thrive.

Through analysis and case studies we present evidence for the effectiveness of our services in improving their wellbeing and helping to put young carers on a positive life trajectory to a brighter future.

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Residential Respite Breaks

f Quotes from children about their break

“I enjoyed using the clay and going swimming”

“I made new friends and visited new places”

“It is so fun I would stay forever”

“Having fun for the first time in five months”

“Honeypot staff are lovely, it’s a really happy environment”

f What was the best thing about your break?

f How do you feel after the break?

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3%
12% Much happier
1%
A bit happier
Not so happy
84% Don’t know
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“Getting a break from my brother”

“Going to Paulton’s Park”

“The food was great”

“Making new friends and getting a good night’s sleep” “The best thing about the break was all the activities”

f What was your most proud achievement?

“Learning to swim”

“Making new friends, because I am very shy”

“Being able to ride a bike on my own”

“I stayed away from home for the first time”

“I achieved coming away from home without my family and staying with other people”

f Would you like to come back to Honeypot?

99% of the children said yes. Only 1% indicated they would not return because they missed their family, siblings, or the parent they care for.

Quote from a parent whose child was resistant to attending a Honeypot respite break. With the help of Honeypot’s skilled staff, the child was given enough reassurance to agree to attend.

“I would just like to thank you all so much for looking after my son and showing him an amazing time. He wants to come back now! You have given a little boy memories to last a lifetime so thank you.”

Feedback from referring organisations

“The amount of trust and freedom that was given to the young carers was remarkable. Children were encouraged to make the house feel their own, to make the most of the experience, be it in organised activities or through free play. The team were fantastic!”

“Everything was perfect. The house is beautiful and fully equipped with everything the children could need or want - a home from home. The staff were wonderful - so kind, friendly and patient with our carers. The respite break was very well planned - lots of fun activities suitable for every one of the wide age ranges we had with us, a visit from Santa with an extremely generous gift, delicious food. Transport was provided which was a massive help. Cannot fault one thing about the day.”

“This was an amazing day for the young carers that came along. For them to have the time and space to explore, form friendships, try new experiences, and overall just be children, was what the day was all about. It is hard to put into words how the overall positive outcomes for this day will have such an impact on their lives. Hearing them talk about the day in a positive way and share their experiences with those at home is just perfect. Honeypot staff very quickly ensured that the children were the lead for the day, from the start when Honeypot staff introduced themselves to the young carers, to making the positive experiences of each child personal to them, made the whole atmosphere relaxed and stimulating.”

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% of children who believed their confidence improved:

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Much better
10%
20%
A bit better
No different
Worse
70%
Don’t know
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% of children who believed their independence improved:

----- Start of picture text -----
Much better
20%
A bit better
60% No different
20%
Worse
Don’t know
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% of children who believed their resilience improved:

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60% 40%
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----- Start of picture text -----
Much better
A bit better
No different
Worse
Don’t know
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% of children who believed their communication improved:

Social Emotional Active Learning (SEAL)

Survey results of the positive impact of SEAL education boosters, using the statistically validated Stirling Children’s Wellbeing Scale:

Pupil feedback

“The break has refreshed my brain; I feel happy again” “Honeypot taught me how to collaborate with others” “Improved communication – I’m speaking more in class” “Gained more resilience from spending the whole week” “Reminiscing with old friends was wonderful”

“I cannot choose just one thing! It was the best trip ever! I want to go back again and again”

Parent feedback

“It has helped build her confidence in herself and who she is and how she feels. Bullying has given her self-belief a knock recently, so spending time in a small group of children, building closer bonds and just having time focused on them has really given her a boost. And just time to have some fun without worrying.”

“I have seen a big different in her since going to Honeypot. She is definitely more independent.”

School feedback

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Much better
20%
A bit better
80% No different
Worse
Don’t know
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“Thank you for the wonderful experience you gave our children at Honeypot. The children loved all the varied activities that they got to engage with. They felt privileged and special, due to how well they were looked after by your lovely staff team.

“From the moment we engaged with you, every aspect of the residential was taken care of. We really appreciated your support and enthusiasm and look forward to sending more of our children next year.”

The Honeypot SEAL break has enabled 11 pupils from our school to flourish in all aspects of their social and emotional learning. To see their confidence, resilience and happiness grow has been amazing to watch.

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The trip provided lots of
socialising and reflective
language, which enhanced the
children’s speaking and listening
skills. They felt important and that they
were ‘seen’ during the trip, boosting
their self belief and self worth.
The time away from their home
environment gave some children the
necessary space to reflect on their
current worries and needs.
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As a school, we are so grateful to Honeypot and the wonderful staff who provide such a unique opportunity. Honestly, we are so thankful for Honeypot!

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Identified Positive Impacts of Wellbeing Grants

Wellbeing Grants have been instrumental in fostering positive changes for children from across diverse communities. By providing essential resources and support, grants have significantly enhanced the mental, emotional, and physical wellbeing of beneficiaries. Through analysis and testimonials, we identified the tangible difference that grants made to children’s lives, emphasising the importance of investing in wellbeing.

Our grants have been crucial in supporting families, offering financial assistance to enhance their overall health and quality of life. These grants have benefited a diverse group of recipients, with 38% male and 62% female, ensuring inclusive support that addresses the unique needs of each family member.

Total grants distributed this year was 220 , with an average grant of £230.93 .

Application requests are itemised as follows:

Technology_(eg: tablets/laptops)_
 43%
Extra-curricular activities
 25%
(eg: football, gymnastics, drama, horse riding, music)
Furniture/household items
 15%
Clothing

 12%
Household appliances
 4%
Supermarket vouchers

 1%

Of the families that applied for a grant:

The parents/guardians of our Honeypot children identified the negative impact the caring role has on their child as follows:

Self-harm

Anxiety/stress/worry

Anger/frustration Victim of bullying Poor concentration

Physical impact Excessive tiredness

Lack of confidence

Social isolation/loneliness

0 25 50 75

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Wellbeing Grant examples and recipient feedback

Our young carers and their families are deeply appreciative of the grants, as evidenced by the following feedback.

We paid for a young carer to attend a fashion design course during the summer holidays. This is her email to Honeypot:

“Thank you for paying for my sustainable fashion design course at Arts University Bournemouth, I really enjoyed it. Over the course of the week, I created some dungarees and a pocket bag out of two pairs of old jeans, two shirts out of two charity shop shirts (I cut them in half and sewed them together), and an evening bag made of this gold crinkly fabric and lined with old jogging bottoms. At the end of the week, we had an exhibition of all our designs. Thank you for this opportunity and I hope to see you soon.”

Her Mum also sent her own thanks: “She loved the course and was quite sad when it ended but it has encouraged her to do more sewing and designing at home and she definitely has her own fashion style now! Many thanks for the grant, I would have struggled to find the funds for her to do the course and it has ignited a passion that she did not know was there.”

One family, whose 10 year old helps care for her mother and brother, expressed profound gratitude for the support provided by the Wellbeing Grant. The money was used to purchase paint, wallpaper, a bookcase/storage cupboard, and a rocking chair to revamp the young carer’s bedroom. The family said:

“We have transformed her room during the Christmas Holidays, she is absolutely delighted with how it has turned out and loves her wisteria wall and rocking chair! Thank you so much for helping us to give her a space that she can call her own, where she can go to unwind.”

An 8 year old young carer, who supports her mum, received a grant for a week-long arts and crafts course at Fairthorne Manor YMCA during the summer holidays. Additionally, we provided supplies for her to enjoy crafting at home with her Mum.

“Thank you so much again for the crafts, we have had some great fun making cards (had a lot of birthdays in June). We had such fun, thank you, we even had the glue in her ponytail. Thank you all so much for Fairthorne - the friends that she is going with, one of them is doing the art one with her, so she is mega happy. Much appreciation to all of what Honeypot have done.”

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Pastoral Support Service

After a successful period of inviting families to this new service in 2022, we supported 64 new families in the year 2023-24 and continued to provide support to all previously recruited families. The Pastoral Support Service also supported 48 external enquiries around accessing services for carers.

Wellbeing Wallets

A total of 42 families (50 children) received the Wellbeing Wallet packages during this period. The resources were developed to support key areas of need such as: worry, positivity, emotions, resilience, self-esteem, and coping with change.

Stirling Wellbeing score data related specifically to emotional wellbeing, from before and after receiving the wallets, increased by 11% with an overall improvement of 14% .

Parent feedback

“We really enjoyed receiving the packs, my daughter was excited that it was addressed to her. As a whole, we found them very positive. Thank you!”

“We loved receiving the packs and my son would complete them and go back to them at times too. He found them easy to understand and follow, with my support.”

“My daughter enjoyed doing the activities in the pack.”

“We both looked forward to receiving the packs because it was time just dedicated to time together.”

“We loved the packs. The kids enjoyed them arriving and opening them up to see what was inside.”

“It works for me and my child.”

“They were bright, colourful and easy to read. My daughter loved receiving and completing them.”

Schools

Wellbeing activity booklets developed to support the mental wellbeing of all children were also distributed to 2,000 children across 25 schools in Hampshire and Wales.

Healthy Eating and Nutrition

In today’s fast-paced world, maintaining a healthy lifestyle is vital, with healthy eating at its core. Proper nutrition significantly impacts on our physical health, mental clarity, and emotional stability.

We have supported our young carers to understand the essential nutrients of healthy eating, the benefits of balanced meals, and practical tips for incorporating wholesome foods into daily life, leading to a more vibrant and fulfilling existence.

In 2023/24 we distributed vouchers to 249 children who each received 4 x £25 vouchers (£100 in total) across the financial year. Overall, we allocated £24,900 .

Parent feedback

“I cannot tell you how grateful we are for them. The vouchers have enabled my young carer to eat nutritious food which is ready in a short time! My life as a single mum with my disabled son and my daughter is often fraught, and money is tight, and so is time. My daughter has learnt a lot about nutrition and nutritious food, and we are so grateful for the vouchers. Thank you!”

“My daughter helps with the weekly food shop and when we received the supermarket voucher, we gave it to her to choose what food she wanted to get and what meals we would prepare with it. She picks gluten free barbecue chicken fajitas and made teriyaki chicken, as well as treating herself to some gluten free biscuits. She really enjoyed being able to give the voucher to the cashier and pay with something of her own.”

“We had not expected to receive the voucher, and my daughter really enjoyed being able to pay for the shopping as well as helping pick things out and put the shopping list together. She does a lot to help me at home even though she is autistic herself, she also suffers with anxiety but she makes sure I take my medication every morning. She helps to cook and prepare meals, and she cares for our pets. Having some recognition for all that she does from someone outside of our family unit really helps to build her self-esteem and validates the things she does.”

“Thank you very much. We really do appreciate it, both boys will be very happy choosing the ingredients to make main meals and healthy treats with.”

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Nutrition Case Study

Pippa, a 12 year old young carer for her disabled sister with complex needs, faces significant challenges at home due to her sister’s violent behaviour. Pippa helps with house chores and caregiving, finding respite at Honeypot breaks.

Since participating in workshops and receiving vouchers, Pippa’s sister, who has ASD and a restricted diet, has started trying new foods. The vouchers have greatly assisted the family, whose weekly food budget is £60. They saved the last voucher for Easter, appreciating the help during rising costs.

With her first voucher, Pippa was challenged to feed her family of four from Friday evening to Monday morning. She planned meals, made a shopping list, and shopped at Aldi, staying within the £25 budget. For Easter, she faced a tougher challenge: budgeting from Monday to Friday.

Mum commented: “Pippa has made various nutritious meals, such as Mexican wraps, pasta bake, and toad in the hole with vegetables, drawing inspiration from workshop recipes like pizzas. The programme has significantly improved her budgeting and cooking skills.”

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Your Support over the Past Year
CHRISTMAS
MEGA
MATCHED
FUNDING
APPEAL
£400k
£200k
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You cycled for us
You got muddy for us
You left legacies to us
You celebrated with us
You partnered with us
You ran for us
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Fundraising & Communications

Our Fundraising Strategy

The cost of living crisis and double-digit inflation over the past 12 months created one of the toughest environments in which to raise charitable donations. In 2024 Honeypot completed the fourth year of its five-year fundraising strategy, a strategy which carried Honeypot through these challenging times.

Sufficient funds were raised over the past 12 months to fund our core services, including residential respite breaks and SEAL education booster programmes, which both ran at full capacity throughout the year. Additionally, Honeypot enhanced and expanded its range of support services for young carers, including a healthy eating and nutrition service, and a large-scale distribution of thousands of Wellbeing resource packs to enable children to cope with stress, anxiety, and worry.

In summary, our fundraising and communications strategy was threefold:

1. Diversifying and Expanding New Sources of Income

Despite lower income from Trusts and Foundations, traditionally a major source of funding for Honeypot, our strategy of diversifying and expanding different types of income sources was crucial to raising the funds needed for our core services to operate at maximum capacity.

Our diversified range of income sources were:

Appeals

Honeypot has been building up annual appeals for several years. We employed digital fundraising and social media to mobilise large numbers of individuals, corporates, and community groups, existing and new.

Honeypot benefited substantially from engaging with high performing appeal websites and platforms, including The Big Give, Charity Extra, and BBC Radio 4, to reach thousands of people. Appeals were the largest single source of funds in 2024.

Honeypot ran five appeals: the Summer Big Give appeal raising £105,000, the Christmas Big Give appeal also raising £105,000, the BBC Radio 4 Appeal raising £44,000, and the Christmas Mega Matched Funding Appeal raising £400,000, side by side with running a dedicated matched fundraising appeal for one large corporate supporter, raising nearly £100,000.

f For the future

We will embed our annual appeals within a yearly cycle of fundraising and continue to approach prior contributors and reach out to new contributors via social media. We will keep appeal supporters undated and informed about the impact their donations have and the work they help to fund.

We will endeavour to source matched funding for individual corporates, groups and organisations, and family trusts, should any wish to run a bespoke matched funding appeal for Honeypot, where the funds raised are doubled from a matched funding pot.

We will build the marketing collateral that supports the compelling communications of our appeals, including videos showing how our work transforms young carers’ lives and case studies that illustrate the depth of impact of our services on young carers.

Investigate fundraising platforms that reach communities and populations outside of the United Kingdom with a particular emphasis on the USA, Germany and Belgium, from where significant funding has already been received.

We observed the immense impact social media influencers who supported our appeals had for reaching new audiences. We will make concerted efforts to consolidate our relationship with existing influencers who support Honeypot, as well as reaching out to new influencers.

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Government Grants

Honeypot benefited from two large government grants for our work with Welsh young carers: Amser Short Breaks Scheme, and The Carers Support Fund Wales. We received the good news in February 2024 that the Welsh Government’s Amser Short Breaks Scheme awarded Honeypot continuation funding until March 2025. These funds, with a combined value of nearly £250,000 were administered on behalf of the Welsh Government by The Carers Trust, Wales.

f For the future

Honeypot will consolidate and build its funding relationship with the Welsh Government and investigate the availability of government funding for our work in Scotland and England. We aim to reach out to local, regional, and national government funding programmes and to appoint a Senior Statutory Funding Manager to drive this important area forward.

Legacy Income

Honeypot was deeply grateful to legators who left a gift in their Wills over the past 12 months. Honeypot invested substantial resources to raise the profile of legacy giving over the past year. We met the request from many people to receive Honeypot’s Legacy Brochure, Caring Together For Young Carers . We will continue to disseminate our legacy brochure to interested parties.

We will encourage and welcome a close relationship with people who have made, or are thinking of making, a provision in their Will to Honeypot, with invitations to visit our services and see first-hand the difference our support services make to young carers’ lives. We will offer people leaving a gift in their Will, or their Executors, the opportunity to dedicate a Honeypot service in memoriam, to leave a lasting testament to the legator.

Honeypot subscribed in 2024 to a discretionary legacy notification service. We receive notifications of estates where a provision was in a Will for gifts to charities that support disadvantaged children. The choice of charity was at the discretion of the Executors, and we invite these Executors to consider Honeypot and are available to meet them to discuss their requirements.

f For the future

We will launch our new legacy group, All Out For Honeypot , which will provide a range of entertaining events and activities for people leaving a gift in their Will and give legators and members of Honeypot the opportunity to get to know each other.

We intend to write to Executors of discretionary Wills to make them aware of our work and invite them to join personal tours of our services to find out more about how we support young carers.

By advertising in important legal publications, we will make solicitors aware of Honeypot’s work. A menu of sponsorship opportunities will be offered to perpetuate the name of the legator.

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Patrons’ Club

Honeypot has benefited magnificently from the generosity of individual philanthropists and families. Over the past months the fundraising team revisited an initiative, the Patrons’ Club, which was launched prior to the Covid pandemic, but had to be curtailed when Covid struck.

This club is aimed at high net worth individuals who can commit to giving £5,250 per annum for two years, renewable on a rolling basis. The Patrons’ Club has the potential to transform Honeypot, by providing the stable and predictable income that facilitates the longterm planning and development of services.

f For the future

We look forward to holding special Patrons’ Club networking events, personal tours of our services, providing inside track briefings, complimentary seats at our biennial party, marketing and communications support for patrons who wish to include the communication of their patronage within their CSR/ social impact reporting.

We aim to secure 250 patrons over the next three years. Patrons will provide the stable and predictable income to transform the lives of young carers.

Community Fundraising

With the opening of a house in East Ayrshire, Scotland in 2023, to add to our houses in England and Wales, Honeypot became a national charity. Honeypot has traditionally received large scale support from communities within the vicinity of its houses.

Over the past 12 months Honeypot was deeply gratified to witness the rallying round of markedly large numbers of community groups, organisations, and individuals, especially in the Hampshire area and London.

Groups, organisations, schools, Trusts and Foundations, businesses, and corporate enterprises and very many individuals from the Hampshire, Southampton, Bournemouth, Christchurch, and Poole regions and further afield gave generously to support young carers. These communities may rightly be thought of as the heartland of Honeypot.

Honeypot’s Trustees and Directors were thrilled and delighted by how rapidly community organisations, groups, and associations, as well as companies and Trusts and Foundations in Scotland supported our new house and the services we run from it for Scottish children. Amongst our key supporters were Maven Capital, The Rotary Club, The 9CC Group and The Scottish Children’s Lottery.

f For the future

Honeypot’s professional teams will continue to seek to network, engage and welcome community support within the vicinity of our houses, creating and fostering close and open relationships.

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A Bespoke Honeypot Challenge Event

It has been Honeypot’s dream to create its own bespoke challenge event, an event to excite and engage a wide range of corporate supporters, groups, and individuals. Thanks to Messer’s John and Jamie Pocock, a long-distance bike ride from Honeypot House in Hampshire to our house in Powys, Wales was conceived, and development commenced. This event is called House to House.

f For the future

Our 225-mile, House to House bike ride will be held from 1st to 4th August 2024. We aim to recruit riders of all abilities. A one-day option will also be offered for those who wish only to ride one of the legs of this event.

Influencers are being invited to participate in riding the course, which is important for reaching hundreds of thousands of followers on social media. By doing this we aim to raise the level of awareness and understanding of the challenges young carers face, and how Honeypot’s services provide an effective model of service provision for young carers.

We aim to develop House to House for the long-term. In common with many of the large bespoke charity challenge events which start off with modest numbers of participants and grow over several years into mass participation events, Mr John Pocock and Honeypot aim to develop House to House into a major cycling challenge event in the UK.

2. Consolidating our Three Main Sources of Income

While diversifying our income sources enabled Honeypot to spread the risk of a downturn in core income, we endeavoured not to lose sight of the crucial importance of our three core sources of funding: Trust & Foundations, corporate partnerships and community fundraising. We continue to invest in these areas and innovate to improve their returns in the following ways:

Corporate

Our full-time staff of Senior Corporate Partnership Managers worked with our marketing and communications team, under the guidance and direction of the Director of Income and Communications, to deliver a first-class experience for corporate partners in 2024.

They provided innovative events, inspiring volunteering opportunities, and engaging fundraising activities, supported by powerful marketing and communications to inform the staff of corporate partner businesses of the life-enhancing effect their support was making.

We were delighted to have secured a high level of corporate partnership retention, as well as seeing new partners join in 2024. There are corporate partners who have supported Honeypot for many years, including The Berkeley Foundation and St George who are in their 10th year with Honeypot. They are the bedrock of Honeypot.

We were immensely pleased to welcome all our new corporate partners in 2024, especially Addleshaw Goddard who entered into a substantial three-year partnership with the goal of raising a six-figure sum.

f For the future

We will appoint a Senior Corporate Partnerships Manager to develop corporate partnerships in Wales, The Midlands, The Wirral, and Greater Manchester regions. Our Fundraising Manager for Scotland has a substantial remit to develop corporate partnerships across Scotland.

We intend to develop a range of first-class challenges and events, diverse fundraising opportunities, engaging volunteering portfolios, excellent stewardship, and powerful communications to achieve a high level of satisfaction and fulfilment for our corporate partners.

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Trusts and Foundations

Due to key roles being vacant in our Trusts and Foundations team, combined with an exceptionally large charitable foundation who had supported Honeypot generously for many years winding up, it was a challenging year for achieving the budgetary target for Trusts and Foundations Income.

Nonetheless, income was maintained at a substantial level, due in large part to our deeply committed, long standing Trust and Foundation supporters. We were immensely thankful to all Trusts and Foundations who supported Honeypot over the past 12 months, especially The Berkeley Foundation, Tresanton Trust, Barry and Peggy High Foundation, The POM Trust, The Girdlers’ Company Charitable Trust, and The Richard Porter Family Trust.

Several Trust and Foundation supporters accepted our invitation to visit Honeypot services. Strong feedback was received from visitors expressing how gratified they were to see the ways in which the children were nurtured, supported, and helped to develop confidence and resilience.

Honeypot is cognizant of the need to clearly report services outputs, outcomes, and impact of our work in total as well as for individual grants. More resources were devoted over the past 12 months to enhancing and deepening our recording, reporting and use of validated impact measurements.

f For the future

Honeypot has moved from being a single service organisation supporting young carers, to being a multi service organisation that functions in different areas of need to support young carers and other disadvantaged children.

This presents opportunities for funding from a more diverse range of Trusts and Foundations. In addition to our stress-busting Residential Respite Breaks, Honeypot provides a validated and recognised education booster programme that was attractive to Trusts and Foundations wishing to redress a lack of fairness and equality in support for children underachieving in education.

Honeypot arranges group activities and Memory Making Days out for lonely, isolated, and marginalised children. Wellbeing services were provided to reduce stress and anxiety and build good mental health and resilience.

Additionally, Honeypot provides early intervention, holistic, multi-support services to children with multiple needs, which meet the funding criteria of Trusts and Foundations that are focused on maximising the overall impact on the quality of life of children and supporting models of best practice.

Below is a diagrammatic representation of our early intervention, holistic, multi-service model.

This work ensured Honeypot was able to produce high quality progress reports to Trusts and Foundations that met their need to have transparent information of how their grants improved young carers lives.

Maslow’s Hierarchy of Needs

Self-actualisation

Esteem

Love and belonging

Safety

Physiological needs

Honeypot’s Model of Service Delivery

SEAL Education Booster Breaks; Residential Respite Breaks; Wellbeing Wallets; Parent & Child Workshops; Pastoral Support

SEAL Education Booster Breaks; Residential Respite Breaks; Wellbeing Wallets; Parent & Child Workshops; Pastoral Support

Residential Respite Breaks; Memory Making Days; Digital Group Activities Pastoral Support; Wellbeing Grants; Healthy Eating & Nutrition Wellbeing Grants; Healthy Eating & Nutrition

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3. Giving Young Carers a Voice

For many years young carers were hidden: from society, hidden from large-scale philanthropic support by the general public, hidden from large grant awards from a large number of Trusts and Foundations who support services for disadvantaged children, and hidden from widescale support by corporates. Young carers were not recipients of large-scale government backed funding programmes.

While young carers are still in the main hidden, there are signs that this is changing. This is, in part, due to a recent spike in interest by the media, including national press and TV and radio broadcasting.

Interest and support for young carers is also being stimulated by the occurrence of large-scale social research which quantified the extraordinarily high level of caring amongst children and young people in the UK. Leading researchers in the field of young carers, such as Professor Saul Becker, believe there are over one million young carers in the UK.

As a national young carers’ charity, Honeypot engages and supports a substantial number of young carers across several regions of the UK, working with hundreds of organisations within the UK child welfare network who refer children to Honeypot.

We are well positioned to understand the issues facing young carers. Honeypot has knowledge and evidence for the effectiveness of services that meet the young carers needs. We are able to identify when the needs of young carers are being overlooked and their voice not being heard.

Over the past year, Honeypot has been giving young carers a voice in the following ways:

f Speaking up and speaking out for young carers

We have recently seen several important large scale carer studies in the UK, which identified gaps in the support for carers. These studies make recommendations and create government funding for carers.

Many of these studies focused strongly on adult and young adult carers. Young carers were often overlooked or under-represented. Honeypot has begun speaking up for young carers, highlighting their unmet needs and the potential to perpetuate the under provision of support for young carers due to poor consideration of the issues and challenges facing them.

f Promoting our model of best practice

Honeypot collected impact data and measurements that demonstrated the effectiveness of our early intervention, holistic, multi-service support model. We have reached out to commissioners and providers of support services to share our service model, presenting evidence that showed the effectiveness of our services.

We believe that our early intervention, holistic, multi support service has the potential to become a model of best practice, which can benefit many more young carers than we support directly.

f Magnifying the young carer voice

There were a small number of incisive studies of the challenges young carers face, such as A Fairer Future for Young Carers in Education carried out by The Carers Trust. This study established that only 4 in 10 young carers who were underachieving in school received additional support.

Honeypot brought the experience, knowledge and evidence we have accumulated to show the effectiveness of our SEAL education booster programme to support the Carers Trust’s research.

Through collaborating in this way, Honeypot sought to highlight the importance of research such as this. We also presented our own impact measurements of our SEAL education booster programme to demonstrate that such inequalities in education support for young carers can be addressed effectively.

f For the future

Honeypot will consistently employ validated impact measurements for its services, to build the evidence base for the effectiveness of our SEAL education booster programme over the long term.

We will continue to share the evidence for our early intervention, holistic, multi-service model with a view to stimulating wider scale dissemination and adoption of this model by service providers and government commissioners.

The aim is to continue to grow and develop our communications reach, through social media networks, digital media, collaborations with national media bodies such as the BBC and Good Morning.

We intend to significantly surpass the 1,000,000 people we reached out to in 2024, to raise their level of awareness, interest, desire, and action to improve young carers’ lives.

We will scan the output of quality research relating to carers and identify consultation forums and consultation processes that lead to government policy and funding for carers, and endeavour to see the successful securing of provision for meeting the needs of young carers as part of governmental funding priorities.

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Financial Review

Year ended 31 March 2024

The overall gross income of the charity was £2,236,298 for the 12 months ended 31 March 2024. A year financially where it proved challenging to meet the full cost of the charity’s expenditure programmes and where recruitment of staff again proved to be difficult and challenging.

The charity was fortunate to have the support of the Trustees in putting on another successful fundraising Honeypot Party at the Dorchester Hotel on 7th March 2024 – and this raised £301K gross income.

That proved to be very helpful in the accounts but overall a deficit financially for the year was the main result as the charity maintained its commitment to full occupancy and the Scotland house programme took off with respite breaks and memory making days occurring during the year.

The gross reported expenditure of the charity was £2,630,091 for the 12 months ended 31 March 2024, a marked increase on the previous year (31 Mar 2023: £2,231,754).

There were significant depreciation charges arising from the renovation of the new Scotland house, increased provision of SEAL breaks during the year, and the start of a new expenditure programme at the Scotland house, to provide respite breaks and memory making days. Charitable spend in the year was just under 80 pence in the pound at 79 pence (12 months period ended March 2023: 80p).

Investments

The Trustees remain cautious about investments and currently have an investment in government gilts with a return of around 4%. Other spare cash continues to be kept in short notice savings accounts paying 1% to 4% 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 £740,569 (year ended March 2023: £531,309) or 3.4 months of total operating expenditure (year ended March 2023: 2.85 months).

Operational restricted funds reduced very substantially as monies held for respite breaks and SEAL breaks were spent down (reducing from £743K at the start of the year to £275K at the end of the year).

Designated Funds

The 3rd house fund was spent during the year with renovating the new property in Scotland but £150K was temporarily transferred at the end of the year from the 4th house fund to enable the charity to complete an extension at Dalleagles and create an additional space/arts room for the children.

As part of this facilitation, a sum of £93K was also additionally transferred from restricted funds to enable this project to be completed.

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

Fixed Asset Fund
Third House Fund
Fourth House Fund
Matched Giving Fund
Total		 £950,571
£243,330
£350,000
£200,000
£1,743,901

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Statement of Trustees’ Responsibilities

Reference and Administrative Details

The Trustees present their report along with the financial statements of the charity for the period ending 31 March 2024. 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:

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 the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, the Charities Accounts (Scotland) Regulations 2006, and the provisions of the CIO constitution..

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.

The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Structure, Governance and Management

The Honeypot Children’s Charity is constituted as a CIO following its successful incorporation on 27 June 2019. The Board of Trustees is governed by the constitution, and Trustees are responsible for controlling the management and administration of the charity. The constitution limits the number of Trustees to between three and twelve.

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

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 CEO and 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 fundraising activities to ensure that the operations of the charity can be achieved.

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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.

The key risk to the charity is reputational risk which the Board seeks to minimise by active oversight and robust review by its sub-committees.

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 our swimming pool at our Wales site to use clean energy and sell back excess energy to the grid.

Reducing our emissions resulting from our charity operations and increasing the use of clean energy across our sites remains a significant goal. We are engaging with our contractors and suppliers to ensure best practice within their own ECG record in respect of diversity and inclusion, waste and recycling, and reducing emissions.

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 3rd October 2024 and signed on their behalf by:

Laurie Oppenheim (Oct 17, 2024, 10:08am)

Laurie Oppenheim Chair of the Board of Trustees

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Independent Auditor’s Report

Opinion

Conclusions relating to going concern

We have audited the financial statements of The Honeypot Children’s Charity (the ‘charity’) for the year ended 31 March 2024 which comprise Statement of Financial Activities, Balance Sheet, Statement of the Cash Flows and notes to the financial statements, including significant accounting policies.

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.

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).

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

In our opinion the financial statements:

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. Our opinion on the financial statements does not cover the other information and 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.

Basis for opinion

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.

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 responsibilities for the audit of the financial statements section of our report.

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 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 have nothing to report in this regard.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

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Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 requires 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 responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

Irregularities, including fraud, are instances of noncompliance 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 or misrepresentation.

A further description of our responsibilities is available on the FRC’s website at: www.frc.org.uk/library/ standards-codes-policy/audit-assurance-and-ethics/ auditors-responsibilities-for-the-audit

This description forms part of our auditor’s report.

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Use of our report

This report is made solely to the charity’s Trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006.

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.

Shoaib Arshad (Oct 17, 2024, 10:38am)

Knox Cropper LLP

Chartered Accountants and Statutory Auditors 65 Leadenhall Street London EC3A 2AD

Knox Cropper LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006.

38

Financial Statements

The Honeypot Children’s Charity Statement of Financial Activities Year End 31 March 2024

----- Start of picture text -----
Unrestricted Restricted Totals Totals
Funds Funds 31 Mar 2024 31 Mar 2023
Notes £ £ £ £
Income
Donations and legacies 2 1,571,444 256,487 1,827,931 2,337,166
Other trading activities 3 367,788 - 367,788 76,064
Income from investments 2 36,879 - 36,879 16,659
Income from charitable activities 2 3,700 - 3,700 14,230
Total income and endowments 1,979,811 256,487 2,236,298 2,444,119
Expenditure
Expenditure on raising funds 3 543,931 - 543,931 446,486
Expenditure on charitable activities 4 1,340,506 745,654 2,086,160 1,785,267
Total expenditure 1,884,437 745,654 2,630,091 2,231,754
Other recognised gains/losses
Unrealised profit/(loss) on investment assets 9 1,375 - 1,375 (1,207)
Total expenditure and other recognised
1,883,062 745,654 2,628,716 2,232,961
gains/losses
Net movement in funds 96,749 (489,167) (392,418) 211,159
Fund balances brought forward at 1 April 2023 2,387,721 1,449,384 3,837,105 3,625,946
Fund balances carried forward at 31 March 2024 2,484,470 960,217 3,444,687 3,837,105
----- End of picture text -----

All income and expenditure relates to continuing activities.

There were no recognised gains or losses for 2024 other than those included in the Statement of Financial Activities.

39

The Honeypot Children’s Charity Balance Sheet Year End 31 March 2024

----- Start of picture text -----
31 Mar 2024 31 Mar 2023
Notes £ £
Fixed assets
Tangible assets 8 1,491,055 1,560,595
Investments 9 510,602 500,331
2,001,657 2,060,926
Current assets
Debtors 10 220,891 75,786
Short term deposits and savings accounts 1,151,994 1,793,441
Cash at bank and in hand 325,242 141,222
1,698,127 2,010,449
Creditors: amounts falling due within one year 11 (255,097) (234,270)
Net current assets 1,443,030 1,776,179
Total assets less current liabilities 3,444,687 3,837,105
Net assets 3,444,687 3,837,105
The funds of the charity:
Unrestricted funds
General funds 16 740,569 531,309
Designated funds 16 1,743,901 1,856,412
2,484,470 2,387,721
Restricted funds 17 960,217 1,449,384
Total charity funds 3,444,687 3,837,105
----- End of picture text -----

The financial statements on pages 39 to 50 were approved by the Board of Trustees on 3 October 2024 and signed on their behalf by:

Laurie Oppenheim (Oct 17, 2024, 10:08am)

Laurie Oppenheim Chair of the Board of Trustees

40

The Honeypot Children’s Charity Statement of Cash Flows Year End 31 March 2024

31 Mar 2024 31 Mar 2023
Notes £ £
Net cash provided by operating activities
15
(405,992)
732,315
Cash fows from investing activities:
Interest income
36,879
16.659
Net (additions)/disposal of tangible fxed assets
(79,418)
(390,347)
Net (additions)/disposal of investment income portfolio
(8,896)
(501,536)
Net cash provided/(used) by investing activities (51,435) (875,224)
Increase (decrease) in cash and cash equivalents in the year (457,427) (142,909)
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 1,934,663
1,477,236		 2,077,572
1,934,663

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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 comprises 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 include 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 shouldn’t normally depreciate) and is calculated in order to write off the cost less estimated residual value over their 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

42

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 a 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 6%.

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.

1.12 Cash at bank and in hand

Cash at bank and cash 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.

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.

43

2. Income

----- Start of picture text -----
31 Mar 2024 31 Mar 2023
£ £
Trust & Grants 482,767 1,124,137
Corporate donations 362,618 631,372
Individual donations 779,546 479,351
Community fundraising 203,000 102,305
Total donation and legacy income 1,827,931 2,337,165
Interest receivable on deposit bank accounts and investment income from gilts 36.879 16,659
Total income from investments 36,879 16,659
Other contributions 3,700 14,230
Total income from charitable activities 3,700 14,230
----- End of picture text -----

3. Expenditure on raising funds

----- Start of picture text -----
Activities
Support
undertaken 31 Mar 2024 31 Mar 2023
costs
directly
£ £ £ £
Donation and legacy income 1,827,931 - 1,827,931 2,337,165
Cost of generating donation and legacy income (245,787) (65,262) (311,049) (337,675)
Net donation and legacy income 1,582,144 (65,262) 1,516,882 1,999,490
Other trading activities income 367,788 - 367,788 76,064
Cost of generating trading activity income (167,620) (65,262) (232,882) (108,811)
Net fundraising events and hire of facilities income 200,168 (65,262) 134,906 (32,747)
Total fundraised income 2,195,719 - 2,195,719 2,413,229
Total costs on raising income (413,407) (130,524) (543,931) (446,486)
Net donation, legacy & fundraising income 1,782,312 (130,524) 1,651,788 1,966,743
----- End of picture text -----

4. Expenditure on charitable activities

----- Start of picture text -----
Activities
Support
undertaken 31 Mar 2024 31 Mar 2023
costs
directly
£ £ £ £
Respite breaks and digital outreach 1,564,067 522,093 2,086,160 1,785,267
Total charitable expenditure 1,564,067 522,093 2,086,160 1,785,267
----- End of picture text -----

During the year there was £745,654 of restricted charitable expenditure (year ended March 2023: £547,721). 44

5. Support costs

----- Start of picture text -----
Fundraising:
Fundraising: Charitable
Donations 31 Mar 2024
Events activities
& Legacies
£ £ £ £
Finance, audit and payroll costs 16,636 16,636 133,092 166,364
Executive and professional costs 35,660 35,660 285,283 356,603
Premises and IT costs 10,882 10,882 87,051 108,815
Other office support costs 2,084 2,084 16,667 20,835
Total support costs 65,262 65,262 522,093 652,617
----- End of picture text -----

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

----- Start of picture text -----
31 Mar 2024 31 Mar 2023
£ £
Wages and salaries 1,281,157 1,282,602
Social security costs 130,011 127,532
Pension costs (money purchase scheme) 75,310 58,359
Total staff costs 1,486,478 1,468,493
----- End of picture text -----

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

The leadership team comprises of the Chief Executive, Director of Income and Communications, Director of Operations, Director of Special Projects, Director of Finance, and Personnel Manager. Total benefits paid in the year ended 31 March 2024 were £446,498 (year ended March 2023: £415,187).

Trustees neither received nor waived any emoluments during the year. Trustee travel expenses during the year were: £610 (year ended March 2023: £nil).

7. Staff numbers

The average number of employees analysed by function was:

----- Start of picture text -----
31 Mar 2024 31 Mar 2024 31 Mar 2023 31 Mar 2023
Full-time Part-time Full-time Part-time
Charitable activities 13 31 17 24
Cost of generating funds 6 2 6 2
Management and administration 2 4 2 3
Total number of employees 21 37 25 29
----- End of picture text -----

45

8. Tangible fixed assets

----- Start of picture text -----
Freehold Fixtures
Motor
land & & Equipment 31 Mar 2024
vehicles
buildings fittings
£ £ £ £ £
Cost
At 1 April 2023 1,510,360 681,526 178,781 153,073 2,523,740
Additions - 43,265 36,153 - 79,418
At 31 March 2024 1,510,360 724,791 214,934 153,073 2,603,158
Depreciation
At 1 April 2023 326,510 362,642 161,421 112,572 963,145
Charge for the year 26,208 96,330 16,295 10,125 148,958
At 31 March 2024 352,718 458,972 177,716 122,697 1,112,103
Net book value
At 31 March 2024 1,157,642 265,819 37,218 30,376 1,491,055
At 31 March 2023 1,183,850 318,885 17,360 40,501 1,560,595
9. Fixed asset investments
31 Mar 2024 31 Mar 2023
£ £
(1) Government gilts purchase 501,536 499,155
Other cash and income 7,689 2,381
Book value of investment at 31 March 2024 509,225 501,536
Unrealised investment gains at 31 March 2024 1,375 (1,207)
Market value at 31 March 2024 510,600 500,329
Original cost at 31 March 2023 500,000 500,000
(2) Unquoted UK investment at cost 2 2
At 31 March 2024 510,602 500,331
----- 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 2024 the gilts had earned £9,225 in income and had an unrealised gain on the investment of £1,375. The market value of the investment as at 31 March 2024 was £510,600.

(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 2024 was £nil. The company was dormant throughout the year.

46

10. Debtors and prepayments

----- Start of picture text -----
31 Mar 2024 31 Mar 2023
£ £
Trade debtors 28,670 9,533
Accrued income 77,703 11,461
Tax repayment claim 18,319 13,294
Other debtors 6,083 8,724
Prepayments 90,116 32,774
Debtors: amounts falling due within one year 220,891 75,786
----- End of picture text -----

11. Creditors: amounts falling due within one year

----- Start of picture text -----
31 Mar 2024 31 Mar 2023
£ £
Trade creditors 103,278 29,520
PAYE & National Insurance 34,570 33,886
Other creditors 8,684 8,197
Accruals 75,918 149,184
Deferred income 32,647 13,483
Creditors: amounts falling due within one year 255,097 234,270
----- 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 2024), an amount received for the 2024 House to House cycle event, and payments for respite breaks happening after the year end.

----- Start of picture text -----
£
Balance as at 1 April 2023 13,483
Amount released in year (2023 London Marathon) (13,483)
Amount deferred in year (2024 London Marathon) 3,947
Amount deferred in year (2024 House to House event) 20,000
Amount deferred in year (2024 Respite Breaks) 8,700
Balance as at 31 Mar 2024 32,647
----- End of picture text -----

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13. Operating lease commitments

At 31 March 2024 the charity had commitments under a non-cancellable operating lease on land, buildings and motor vehicles as follows:

----- Start of picture text -----
31 Mar 2024 31 Mar 2023
£ £
Due within 1 year 1,662 6,646
Due between 2-5 years 18,535 20,207
Total lease commitments 20,197 26,853
----- End of picture text -----

Total spent in the year on operating leases was £6,646 (year ended March 2023: £32,533).

14. Analysis of net assets between funds

----- Start of picture text -----
Restricted Designated General Total
Funds Funds Funds Funds
£ £ £ £
Fund balances at 31 Mar 2024 are represented by:
Tangible fixed assets 540,484 950,571 - 1,491,055
Investments - - 510,602 510,602
Current assets 419,733 793,330 485,064 1,698,127
Current liabilities - - (255,097) (255,097)
Total funds 960,217 1,743,901 740,569 3,444,687
----- End of picture text -----

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

----- Start of picture text -----
31 Mar 2024 31 Mar 2023
£ £
Net movement in funds (392,418) 211,159
Add back depreciation charge and loss on disposal 148,958 145,062
Add back losses/(gains) on investment assets (1,375) 1,207
Deduct investment income (36,879) (16,659)
(Increase)/decrease in debtors (145,105) 298,680
Increase/(decrease) in creditors 20,827 92,866
Net cash used in operating activities (405,992) 732,315
----- End of picture text -----

48

16. Unrestricted funds

----- Start of picture text -----
31 Mar 2023 Income Expenditure Transfers 31 Mar 2024
£ £ £ £ £
General Reserve 531,309 1,979,811 (1,772,090) 1,539 740,569
Designated Funds
Fixed Asset Fund 997,125 - (110,972) 64,418 950,571
Third Honeypot House Fund 59,287 - - 184,043 243,330
- -
Fourth Honeypot House Fund 500,000 (150,000) 350,000
Matched Giving Fund 300,000 - - (100,000) 200,000
1,856,412 - (110,972) (1,539) 1,743,901
Total unrestricted funds 2,387,721 1,979,811 (1,883,062) - 2,484,470
----- 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 Matched Giving Fund represents funds from donors who have given permission to use their funds as a matched giving funder in Honeypot appeals.

17. Restricted funds

----- Start of picture text -----
31 Mar 2023 Income Expenditure Transfers 31 Mar 2024
£ £ £ £ £
-
Respite breaks & outings 245,400 171,177 (383,544) 33,033
SEAL breaks 447,468 34,000 (247,500) - 233,968
Children’s Breaks Fund 692,868 205,177 (631,044) - 267,001
-
Wellbeing Fund 50,315 8,851 (50,316) 8,850
-
Wellbeing Fund 50,315 8,851 (50,316) 8,850
-
Equipment 706,201 42,459 (64,294) 684,366
-
Equipment Fund 706,201 42,459 (64,294) 684,366
Total restricted funds 1,449,384 256,487 (745,654) - 960,217
----- 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 £8,863 (year ended March 2023: £8,197).

19. Related party transactions

The amount of charitable donations from Honeypot Trading Ltd, the 100% subsidiary, was £nil (year ended March 2023: £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 £11,520 (year ended March 2023: £12,000).

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.

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Ww.honeypot:org. uk ctiildhoo (/

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)

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