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2025-03-31-accounts

The Honeypot Children’s Charity Annual Report & Accounts: Year Ended 31 March 2025

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Contents

Activities & Objectives 4
A Message From Our Chief Executive 6
Our Year In Numbers 8
Service Delivery & Output 9
Services Looking Forward 10
Young Carer Case Study 11
How You Supported Us 12
Fundraising & Communications 13
Thank You To Our Supporters 18
Financial Review 20
Statement Of Trustees’ Responsibilities 22
Independent Auditor’s Report 24
Financial Statements 27
Notes To The Financial Statements 30

The Honeypot Children’s Charity

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

Spaces 12 Hammersmith Grove London W6 7AP www.honeypot.org.uk

Trustees

Laurie Oppenheim Chair Hannah Constantine Mary Davis Verne Grinstead (resigned 1 Dec 2024) Oliver Harrison Richard Houseago (appointed 28 April 2025) Alex Kenny (appointed 28 April 2025) Ilaria Magagnoli Tom Putter Natalie Rebeiz

Leadership Team

Simmi Woodwal Chief Executive Phil Gellhorn Director of Finance Jenny Ray Director of Operations and Strategic Development

Elaine Hiskett Personnel and Training Manager Henrietta Yoxall Head of Marketing and Communications Madeleine van Hilten Head of Lottery and Statutory Grants

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 - opened in 1996

Honeypot Pen y Bryn, Powys - opened in 2016

Honeypot Dalleagles, East Ayrshire - opened in 2023

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Activities & Objectives

Our Organisation

The Honeypot Children’s Charity is the only children’s charity in the UK to provide 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 every year.

Young carers make many sacrifices in looking after a sick or disabled family member for 50+ 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 Residential Respite Breaks

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 across the nation so that a young carer living anywhere can access our services.

f Social and Emotional Active Learning (SEAL) Programme

Our SEAL education booster breaks are run in three stages:

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

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

Stage 3: Post-residential, where 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 help them succeed in education.

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f Memory Making Days

We also provide additional Memory Making Days where young carers can experience the joys of a special day out together. These face-to-face days enable young carers to socialise with other young carers, and explore new activities in their communities which they might otherwise not have access to.

Visits can include a trip to a zoo, an aquarium, a farm, or even a theme park. These fun days out help to reduce feelings of isolation and give young carers a chance to develop lasting relationships with other young carers.

f Wellbeing Services

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

Honeypot also provides healthy eating and nutrition support to ensure mealtimes for young carers comprise healthy, nutritious meals, and that good eating habits are learned and put into practice from an early age.

f Pastoral Care

Honeypot provides pastoral care for often

overwhelmed young carers and their families, to help them cope with their challenges. We also provide resources to assist young carers in developing coping strategies for stress, anxiety, worry and low selfesteem. Receipt of these resources often creates the pathway for a young carer or vulnerable child to access other support from Honeypot.

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

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

We use our knowledge and expertise to speak out on behalf of young carers, raising awareness of the issues they face.

A Message From Our Chief Executive

What Drove Our Progress This Year

There were three key fundamentals that underpinned the success of our strategy in 2024/25:

f Early, holistic wrap‑round support remains our core strength

From respite breaks to wellbeing activities, play, peer connection, and practical help, our unique, multi-service model continues to meet the wide-ranging needs of young carers.

f Growing reach across three nations

With the development of our Scottish house, we are on the journey to true nationwide provision. Alignment across all three houses will allow us to share best practice and deliver consistent quality.

A Year of Building Capacity

As we close 2024/25, I am proud to share how The Honeypot Children’s Charity has continued to stand beside young carers across the UK - children who give so much of themselves to support loved ones.

f Diversifying and securing income for long term impact

We expanded beyond traditional fundraising by investing in a dedicated Statutory and Lottery Development resource, initiating and strengthening relationships with local authorities, devolved government partners, and national lottery funders - critical as we scale up our services in Scotland.

Thanks to our supporters, more children received time to play, rest, build friendships, and just be children. This year we completed 10,801 interventions as part of our wrap-round service and we supported 1,632 young carers aged 5-12 with respite breaks.

We also launched our first Honeypot Patrons’ Club to engage major donors in longer term commitments that will safeguard the future of our services for young carers.

This has been a year of building capacity and strengthening foundations so we can reach and support more young carers, more deeply, in the years ahead.

f Elevating our voice

We continued to develop our services in Scotland, bedding in teams and hiring our first Fundraising Manager for the region. We also created a dedicated Marketing and Communications function to raise Honeypot’s profile, ensure the voices of young carers are heard, and help to grow the income that sustains our services.

Our new Marketing and Communications team will help Honeypot cut through - a vital step if we are to ensure that young carers are seen, understood, and supported by the wider public, policymakers and funders.

We did all this while navigating ongoing cost-of-living pressures on families and on the voluntary sector, rising demand for support, and increasing mental health concerns among the children we serve.

Even in this context, our services continued to deliver measurable improvements in wellbeing, confidence, and childhood joy. We are delighted to see that 95% of children felt happier after a Honeypot visit and 98% felt less isolated.

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A Year of Building for 30 – Looking Ahead (next 12-24 months)

In the year leading to our 30th anniversary, we will strive to turn momentum into action in the following areas:

f Scottish house at capacity

Scale up operations in Scotland to ensure we serve young carers at a level comparable to England and Wales.

f Introduce SEAL programme to Scotland

Launch at a reduced level initially, and then learn, adapt and build towards full delivery of the programme.

Strengthen relationships with government, education, and local authority partners to underpin long-term service delivery.

Increase awareness, reach new audiences, and convert profile into greater support for young carers.

f Equal play for every child

Create new play areas in our Welsh and Scottish houses so that all three Honeypot houses offer the same high-quality, child-centred experiences as Honeypot House in England.

With Gratitude

I am incredibly proud of the Honeypot team who go above and beyond to deliver our services.

To every member of our Honeypot community - staff, volunteers, Trustees, funders, partners, and all who gave their time, energy or resources - thank you. Your belief in young carers, and in Honeypot’s mission, transforms generosity into lasting impact.

Together, we are writing the next chapter of Honeypot’s story. As we step into our 30th anniversary year, we are determined to use this milestone as a launchpad - reaching more young carers, earlier, and with the deep, meaningful care they need and deserve.

With heartfelt thanks,

Simmi Woodwal Chief Executive

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Our Year In Numbers

Wrap-Round Service

10,801 interventions through our complete wrap-round service

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Respite Breaks
England 62
Scotland 23
Wales 58
Total 143
1,632 children
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Memory Making Days
England 14
Scotland 9
Wales 12
Total 35
407 children
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Meals Served

Respite 9,792 SEAL Breaks 2,420 Memory Days 407

Total 12,619

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SEAL Learning Breaks
England 6
Wales 15
Total 21
SEAL: Social and Emotional
Active Learning
242 children
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Service Hours
Respite 4,576
SEAL Breaks 1,155
Memory Days 280
Total 6,011
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Wellbeing Fund

176 grants awarded to purchase items that assist with education, wellbeing or personal development

Home Deliveries Winter Fun Packs 2,434 Wellbeing Packs 2,680 Birthday Cards 2,844 Total 7,958

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Total value £42,424
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Service Delivery & Output

Service Delivery Overview

In 2024/25, The Honeypot Children’s Charity continued to deliver a wide range of services that brought relief, joy, and lasting support to young carers aged 5 to 12.

Over the course of the year, these services helped to ease the day-to-day pressures these children face at home, while creating moments of respite and opportunities to thrive.

From residential breaks to our educational booster breaks, from emotional wellbeing to practical grants and joyful memory-making experiences, each strand of support played a part in ensuring young carers felt seen, valued, and able to simply be children.

f Residential Respite Breaks

In 2024/25, we delivered 143 respite breaks, welcoming 1,632 children to our Honeypot houses. These supervised stays offered time to rest, play, and build friendships in a safe and nurturing environment, boosting confidence, self-esteem, and a sense of belonging.

f Social Emotional Active Learning (SEAL) Programme

We held 21 SEAL breaks for 242 children during the year. These focused learning residentials help children develop emotional resilience, communication, and confidence in a nurturing environment – skills that support them in their everyday lives.

f Memory Making Days

We hosted 35 Memory Making Days, giving 407 children the chance to experience joy and freedom away from their daily caring responsibilities. These fun and enriching outings help reduce stress and foster a sense of belonging.

f Pastoral Support

Our pastoral team supported children and families with emotional wellbeing guidance, referrals, and coping strategies. In 2024/25, we also distributed 2,680 Wellbeing Activity Packs , filled with practical tools to support mental health, self-esteem, and resilience at home.

f Wellbeing Grants

We awarded 176 grants of up to £250 each, to help families meet essential needs - from beds and school clothing to tech and household items - reducing hardship and improving quality of life at home.

An additional 300 families received microgrants to enjoy shared experiences like a family day out at Alton Towers or a meal at Pizza Express. These special moments brought joy, not just to the young carer, but to the whole family - including cared-for siblings and parents.

f Healthy Eating and Nutrition

Our Healthy Eating & Nutrition scheme reached 302 children, supporting families through supermarket vouchers and fun, educational nutrition workshops.

These initiatives improved access to balanced meals and empowered young carers to get involved in meal planning and preparation - fostering healthier habits and strengthening wellbeing across the household.

Every one of these services reflects Honeypot’s belief that young carers deserve early, holistic, and consistent support - not just to cope, but to grow, connect and flourish.

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Services Looking Forward

Looking Ahead: Supporting Young Carers in 2025/26

In the year ahead, Honeypot will continue to deliver a diverse and impactful programme of services to support young carers aged 5 to 12 across the UK. Our approach remains rooted in early intervention, emotional wellbeing, and creating opportunities for joy, rest, and personal growth.

We know the difference that trusted, wrap-round support can make. Every element of our planned delivery in 2025/26 is designed to offer young carers not only a break from their caring responsibilities, but also a boost to their confidence, resilience, and overall happiness.

Wellbeing Wallets are creative, child-friendly resource packs filled with tools and activities to help children manage stress, anxiety, and emotions. These are distributed across all regions and encourage selfreflection, emotional regulation, and resilience building.

f Bringing Families Together: 150 Microgrants

These microgrants allow families to enjoy shared experiences - like a trip to the cinema or a family meal out - that would otherwise be unaffordable. These moments strengthen family bonds and support the wellbeing of both the young carer and their loved ones.

f Residential Respite Breaks: 155 planned

These multi-day stays at our Honeypot houses will provide young carers with much-needed time to rest, play, and be children. In a safe, nurturing environment, they will be supported by a high staff-to-child ratio and encouraged to build confidence, develop friendships, and enjoy a break from their daily responsibilities.

f Supporting Emotional Growth: 32 SEAL Programmes

Our SEAL Programme residentials help young carers build resilience, emotional literacy, and social confidence. In 2025/26 we will offer both full-length and shorter SEAL Lite versions, designed to equip children with coping strategies for school and home life.

f Creating Lasting Memories: 14 Memory Making Days

Memory Making Days offer young carers joyful, enriching days out - such as beach or activity park visits. These experiences provide a vital contrast to their caregiving roles and help build a sense of belonging, fun, and freedom.

f Early Introductions: Six Bumble Days for the Youngest Carers

Specifically designed for 4 to 6 year-olds in Scotland, Bumble Days offer a gentle introduction to the Honeypot experience. These short, themed visits help young carers become familiar with staff and surroundings before attending a full residential, laying the groundwork for successful future engagement.

f Nourishing Body and Mind: 150 Children to Receive Nutrition Support

Through our Healthy Eating and Nutrition scheme in Wales, 150 young carers will benefit from supermarket vouchers and hands-on food education. These initiatives help families access nutritious meals and empower children to take part in cooking and healthy eating practices at home.

f Meeting Practical Needs: 26 Wellbeing Grants

These small grants of up to £250 each will help families afford essential items such as school uniforms, beds, or learning tools. Focused on removing barriers to wellbeing, they provide tangible support that improves quality of life and supports the dignity of young carers.

This compassionate and ambitious plan reflects Honeypot’s commitment to helping young carers experience a happier, healthier childhood. By delivering both structured interventions and joyful experiences, we continue to build a support system that addresses the emotional, social, and practical needs of young carers across the UK.

In our 30th year, we will remain as focused as ever on delivering the care every young carer deserves - early, consistently, and with heart.

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Young Carer Case Study

Meet Max – a 10 year old Young Carer

Max’s Dad had an unexpected and severe stroke 18 months ago at Christmas. He was only 50 at the time. Since the stroke, Dad is no longer mobile, having to use a wheelchair and a mobility scooter to get around.

He also has significant mental health issues, as well as a profound speech impediment, which makes it very difficult for him to communicate.

Max now supports his Mum in caring for his Dad, helping with everyday tasks around the home, like lifting and carrying things that Dad can no longer do, helping him to get dressed, and helping him to communicate.

Sadly, he still cannot say Max’s name. Max really struggled after his Dad’s stroke, he is autistic and the situation caused him to worry.

“It’s sad because I cannot go out and play with my Dad, or kick a ball about with him like other kids do.”

Unfortunately, Max’s Mum, after struggling for a year, had to give up her job in the NHS in order to support Dad full time. This means that money has been very tight for the family as they have lost both incomes in the last year and Mum is no longer able to take Max out to do lots of the things his friends are doing. She thought that Honeypot would be able to help him.

When Max first went to Honeypot, he was worried about what it would be like but he absolutely loved it! It was great for Max to meet other young carers like himself and to realise that he is not alone. Max said it really helped him to know that they were all the same, but that being a young carer wasn’t something they talked about: “We were there to just forget about it.”

“My favourite thing was playing football outside with the others. I felt happier after coming back from Honeypot House.”

And it wasn’t just about him – as a parent it was so good for me to have a break too. If I’m happier I am able to be a better parent to Max. I feel very guilty he won’t get a holiday for the foreseeable future, but the stay at Honeypot House is even better than any holiday due to all the activities the children can do. ‑ Max’s Mum

How You Supported Us

Thank you to everyone who got active, got creative, and helped to support us this year. These are just a few of the amazing things you did!

You volunteered for us

You drove for us

You got muddy for us

You danced for us

You sang for us

You dressed up for us

You ran for us

You cycled for us

You walked for us

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Fundraising & Communications

Our Income Sources

The fundraising team at Honeypot has continued to develop a broader range of income-generating activities and has invested in new areas – particularly in lottery and statutory funding.

Our diversified range of income sources includes:

National Lottery Community Fund and seek new government funding streams in Scotland.

Through ongoing engagement with local authorities and careful monitoring of procurement portals, we will continue to identify and apply for suitable grants and contracts. We also aim to build strong partnerships with referrers and delivery partners to strengthen the quality and reach of future applications.

Together, these efforts will help us extend our support to more young carers, in more communities, than ever before.

Government and Lottery Funding

f Strengthening foundations, expanding reach

This year, Honeypot continued to benefit from valued government and lottery funding that enables us to deliver vital support to young carers across the UK. We received two grants through the Carers Trust - £73,590 from the Short Breaks Scheme and £27,720 from the Carers Support Fund - both administered on behalf of the Welsh Government.

In addition, we secured two £20,000 Awards for All grants from the National Lottery Community Fund to support our work in England and Wales. We also built valuable relationships with local authorities, including New Forest District Council and South Ayrshire Health & Social Care Partnership, and were accepted as a Holiday and Activity Programme (HAP) provider by Hampshire County Council for 2025/26. These successes demonstrate the growing recognition of Honeypot’s work at both local and national levels.

To support these efforts and strengthen future bids, our senior leadership team undertook the Voluntary, Community and Social Enterprise (VCSE) sector strength checker process to better understand our organisational strengths and identify opportunities for development.

f Looking forward

We are now focused on unlocking larger-scale funding to broaden our impact across all three regions. We plan to explore wider opportunities through the

Legacy Income

f Leaving a lasting gift for young carers

We are deeply grateful to every supporter who chooses to leave a gift to Honeypot in their Will. These incredibly thoughtful gestures help ensure that future generations of young carers can access the support they need, create joyful childhood memories, and build brighter futures.

Over the past year, our focus has been on raising awareness among existing donors about the lasting impact of legacy giving. We also reached new audiences by advertising in the Law Society Gazette’s Charity and Appeals Directory for 2025. In addition, we continue to receive notifications of estates where a gift has been pledged to charities supporting children or carers - and we reach out to Executors with an invitation to consider Honeypot.

f Looking forward

We are committed to building strong, personal relationships with those who have pledged, or are considering, a legacy to Honeypot. We warmly invite them to visit our services and see first-hand how their future gift can create real and lasting change.

Legacy giving is built on trust and connection - and this was beautifully illustrated by a neighbour of Honeypot House in the New Forest. A dedicated supporter for over eight years, he passed away having left a generous gift in his Will. During his lifetime, he told us:

Although I live about 100 yards as the crow flies from Honeypot House, it is completely hidden behind trees. But I hear the happiness in the voices of the children as they play in the grounds. There is no better sound.

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Mass Appeals

f Growing a network of support

We continued to develop our annual giving appeals as a key source of income, running three successful appeals over the year which collectively raised £373,000. We have employed a mix of digital fundraising and social media to promote these appeals to individuals, corporates, and community groups, both existing and new.

Our long-standing Summer Big Give appeal entitled ‘ Giving young carers the key to unlock a brighter future ’ was supported by 204 generous donations. Our Christmas Big Give appeal ‘Hopes and Dreams’ was supported by 72 donations. We also ran a further Christmas giving appeal, which received 464 donations and was supported by Charity Extra and our corporate partner Addleshaw Goddard.

All of these appeals were made possible by unlocking generous matched funding pots and we would like to thank The Childhood Trust, The Betty Messenger Charitable Foundation, The Reed Foundation, The Tresanton Trust, and The PAN Foundation. We also want to thank all of our supporters for their incredibly generous donations.

f Looking forward

In the year ahead, we will continue to embed annual appeals into our fundraising calendar - reaching out to both long-standing and new supporters across our networks. We will ensure that donors are kept close to our work, with regular updates that show the difference their generosity makes to young carers’ lives.

We will seek to secure matched funding pots for corporate partners, family trusts, and community groups who wish to run their own bespoke appeals - doubling the impact of every pound raised. We will also build inspiring marketing collateral and campaigns to support engaging communications for our appeals, including stories that highlight the depth of impact of our services on young carers.

Our appeal campaigns will be supported by compelling storytelling, case studies that highlight the depth of our impact, and powerful videos that bring young carers’ experiences to life. With each appeal, we aim not just to raise funds, but to inspire action, build understanding, and grow our community of supporters who stand with young carers.

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Major Donors: The Patrons’ Club

f Championing long‑term support

Honeypot has been deeply fortunate to receive the generosity of individual philanthropists and families who believe in giving young carers the future they deserve. This year, we launched our new Patrons’ Club which was aimed at individuals, or couples, who can give £5,000 or upwards.

The Patrons’ Club offers a powerful way for supporters to invest in the long-term future of our work. With sustained income, we can plan more confidently, grow services more strategically, and reach even more young carers with the care they need.

To mark the launch, we hosted our first Patrons’ Club reception with the generous support of the grand Hotel Café Royal in London’s Regent Street. The evening brought together corporate partners, philanthropists, and families for an inspiring night of connection and storytelling. Guests heard directly about Honeypot’s impact - and many were moved to take the next step by joining the Patrons’ Club.

f Looking forward

We will continue to grow our Patrons’ Club and welcome individuals, couples, and families who wish to support Honeypot. Members receive a bespoke programme of stewardship, including invitations to special events, visits to our Honeypot houses, and a twice-yearly newsletter that shares the difference their support makes.

The Patrons’ Club is more than a giving circle - it is a community of people helping to shape a better future for young carers. Together, we are building something lasting.

Community Fundraising

f Growing local support, one gift at a time

This year, our community fundraising efforts focused on building meaningful relationships - both in our long-established network around Honeypot House in Hampshire, and in new communities near Honeypot Dalleagles in Scotland.

At the heart of this work are our fundraising volunteers - passionate ambassadors who champion Honeypot in their local areas. From organising events and raising awareness to donating knitted bees and toys for children’s memory bags, their contributions are as creative as they are generous. In Hampshire alone, 55 volunteers came together to support young carers in the lead-up to Christmas 2024.

f Looking forward

Every act of kindness matters, and every gift deserves thanks. We know that showing supporters the real impact of their giving - from the smiles on children’s faces to the stories of hope they help create - is the first step in a longer journey. We will continue to attend community events and run collections to develop relationships with key support groups and local corporates.

We will also continue with our offer of house tours and talks about Honeypot’s work in order to raise awareness of the houses with the aim of inspiring continued involvement, welcoming more supporters into the Honeypot community and encouraging them to deepen their engagement - whether through regular giving, volunteering, or considering a legacy gift.

In Scotland, volunteer recruitment will be a key focus in the year ahead as we grow our grassroots presence. Together, our communities are making a lasting difference for young carers - and we are excited to grow that impact in the months ahead.

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Corporate Partnerships

f Shared values, shared impact

The corporate partnerships team has continued to uphold a high standard in partnership engagement and management. Many of our corporate supporters have stood alongside us for nearly a decade - a testament to the depth of their commitment to young carers and to the strength of our partnerships.

This year, our partners have embraced the cause with creativity, energy, and heart. From taking part in our legendary Comedy Night at The Comedy Store - where Jo Brand headlined alongside a fantastic lineup - to braving the mud and mayhem of Tough Mudder, their support has been as spirited as it is generous.

Our flagship partner, Addleshaw Goddard, led the way with their cross-office Big Quiz, while others ran their own fundraising activities, helping to raise significant funds and awareness for Honeypot. Eight determined runners also took on the 2025 London Marathon, raising over £40,000 in support of young carers.

Volunteering remained a key feature of our corporate partnerships. Staff teams rolled up their sleeves at our Honeypot houses, decorating for Easter, Halloween, and Christmas, and supporting outdoor maintenance during Green Days. Many also generously gave their time to host unforgettable Memory Making Days, offering children joy-filled outings they will never forget.

We were also delighted to welcome new corporate partners to the Honeypot family, including Pollen Street Capital, Simkins, Hilltop Honey, Kuoni, Puma Capital, Edmonds Elder, and Wyke Green Golf Course. Each new partner has brought enthusiasm and impact, helping to grow the reach of our work.

f Looking forward

We will be growing our corporate team with the addition of a new Senior Corporate Partnerships Officer, based in London, who will play a key role in building new relationships and deepening existing ones.

As we look ahead, we will remain focused on growing our network of like-minded organisations, developing new opportunities, and creating memorable experiences for partners and young carers alike.

Together, we are building a community of corporate changemakers - committed to helping young carers thrive.

Trusts and Foundations

f Navigating change, sustaining impact

In an increasingly competitive funding landscape - shaped by economic pressures and the rapid growth of AI-generated applications - many Trusts and Foundations are narrowing their focus, pausing open calls, or reevaluating their long-term strategies. Against this backdrop, we are particularly proud of the income secured from Trusts and Foundations this year.

We are deeply grateful to our longstanding funders whose continued belief in our work has helped us reach more young carers with greater consistency. These include The Tresanton Trust, The Girdlers’ Company Charitable Trust, Hodge Foundation, The Steel Charitable Trust, The Childhood Trust, and a family foundation who have asked to remain anonymous. It was especially heartening to welcome back both John Lyon’s Charity and Garfield Weston Foundation with new awards this year.

We also celebrated some exciting new relationships. The Reed Foundation backed us as our Champion Funder in the Big Give Christmas Challenge. The Hargreaves Foundation began funding our Social & Emotional Active Learning (SEAL) Programme, recognising the urgent mental health needs of children living in poverty.

The Hopper Trust offered a generous grant following a visit to Honeypot House in Hampshire, where they saw first-hand the life-changing difference our work makes. And two generous donors - Chellaram Foundation and Fonds Jean & Hélène Peters - supported the creation of a new Learning Studio at Honeypot Dalleagles in East Ayrshire.

f Looking forward

As we expand our reach into new parts of the UK, regional funding will become ever more important. In 2024-2025 we saw a welcome increase in regionally specific grants, and we plan to grow this area further in the coming year.

We are also evolving the breadth of our services - especially to support young carers who are often overlooked, such as younger children aged 5-7. Trusts and Foundations will play a vital role in helping us innovate and deliver new services where statutory support does not reach.

We remain committed to strong, transparent relationships with our funding partners, built on trust, shared values, and a joint commitment to helping young carers lead brighter, more joyful lives.

Marketing and Communications

f Amplifying our voice for young carers

This year, Honeypot took an exciting step forward by creating a dedicated marketing and communications function - an investment in raising both our voice and our visibility. With new expertise now in place, we are building the tools, strategies, and stories that will help more people understand who young carers are, what they face, and how Honeypot transforms their lives.

Our aim is twofold: to increase awareness of the challenges young carers experience, and to highlight the impact of our services in a way that deepens engagement, drives support, and ultimately ensures more children get the help they need - sooner.

f Looking forward

Looking ahead, and into our 30th year, we will continue to strengthen our communications and marketing presence, with a focus on storytelling, supporter engagement, and brand development. Whether through powerful campaigns, compelling content, or vibrant digital channels, we are committed to making sure the voices of young carers are heard.

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Thank You To Our Supporters

We would like to thank the following supporters in particular, as well as those who wish to remain anonymous.

Corporate Supporters

Acadian Asset Management Acupay Addleshaw Goddard LLP Afiniti Berkeley Group Bullion Vault Cocorose London Eaton Edmonds Elder Ernst & Young Services Ltd Faculty of Medicine - Imperial College London

Harneys Hilltop Honey Hotel Café Royal London Kuoni Loomis, Sayles & Company LP Maven Capital Morleys Stores Ltd Neuberger Berman Group LLC Pollen Street Capital Ltd Puma Capital Group Quilter REAL Fundraising

Rigby Capital Selwood Ltd Simkins LLP Simplify Solento Lounge, Lymington SPAR UK Sweet Project Holdings Ltd Tesco Stronger Starts TKMaxx and Homesense Volpi Capital LLP Wyke Green Golf Club

Trusts & Foundations

Unrestricted Grants

Anne Harris Children’s Fund ARAM Charitable Trust Garfield Weston Foundation Harapan Trust Homelands Charitable Trust Future Echo Charitable Trust R S Brownless Charitable Trust The Alchemy Foundation The Cannell Family The Brewers Foundation The Harold Hyam Wingate Foundation The Hopper Trust The Horners’ Charitable Funds The Rock Solid Trust The Sir James Roll Charitable Trust The Sisters of Poor Child Jesus Charity The Smile Charitable Foundation The O’Sullivan Family Charitable Trust The Paget Trust The Prince Foundation The Sterry Family Foundation The Tom Hunter Foundation The Tresanton Trust William Howarth Charitable Trust

Restricted Grants

AABIE Charitable Initiative AFC Bournemouth Cherries Community Fund Alice Ellen Cooper Dean Charitable Foundation Baron Davenport’s Charity Chellaram Foundation Christchurch Charitable Trust Delamere Dairy Foundation Dumbreck Charity Fonds Jean & Hélène Peters Green Man Trust Hodge Foundation Hopkins Sayer Charitable Trust James T Howat Charitable Trust John James Bristol Foundation John Lyon’s Charity New Forest Local Children’s Partnership Pobl Trust Powys Community Endowment Fund Shanly Foundation Sir Jeremiah Colman Gift Trust Southampton Charitable Trust The 9CC Group

The Blackwood Engineering Trust The Brothers Trust The Childhood Trust The February Foundation The Gilbert Lane Trust The Girdlers’ Company Charitable Trust The Hargreaves Foundation The James Frederick and Ethel Anne Measures Charity The Jenour Foundation The Joseph and Ann Slater Memorial Fund The Meikle Foundation The Millennium Stadium Charitable Trust The Percy Bilton Charity The Reed Foundation The Richard Kirkman Trust The Simon Gibson Charitable Trust The Steel Charitable Trust The Walter Guinness Charitable Trust Tipton & Coseley Building Society Charitable Foundation Waterside Community Fund

18

Government Funders

Community Organisations

Volunteers, Ambassadors & Individual Supporters

Carers Support Fund funded by Welsh Government and coordinated by Carers Trust Wales

Ayr Sovereign Chapter No.20 Brannfest Brockenhurst Needlework Fiesta Freemason Lodges Hampshire WI and Clubs Inner Wheel Clubs Milford on Sea WI MUSK (Milton Ukulele Strummers Klub) New Forest Meddlars Morris Dancers Parkstone Golf Club Ladies Section Rotary Clubs Southampton & New Forest MG Owners Club Southampton Tangent Club Southsea Lodge of Freemasons Woodpeckers Care Home, Brockenhurst (Colten Care)

Abbie Brown Gabriel Martinelli Ria Lina Steven Mackintosh Travis Nelson and Sigrid John Pocock

Holiday Activities and Food Programme 2025 funded by the Department for Education and coordinated by Hampshire County Council

Supporter Groups

Household Support Fund funded by the Department for Work and Pensions and coordinated by Hampshire County Council

Legators whose estates were distributed to Honeypot in 2024/25

Regular and payroll givers

Short Breaks Scheme funded by Welsh Government and coordinated by Carers Trust Wales

Volunteers across operations and fundraising

Lottery Funders

National Lottery Community Fund, Awards for All England

School & Colleges

National Lottery Community Fund, Awards for All Wales

Glendower Preparatory School King Edward VI Preparatory School Lord Wandsworth College Woodbridge High School

Scottish Children’s Lottery Trust

Local Authority Funders

Christchurch Town Council

Lymington & Pennington Town Council

New Forest District Council

New Milton Town Council

South Ayrshire Health & Social Care Partnership

19

Financial Review

Year ended 31 March 2025

The overall gross income of the charity was £2,153,047 for the 12 months ended 31 March 2025. 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 gross reported expenditure of the charity was £2,500,289 for the 12 months ending 31 March 2025, a small decrease on the previous year (31 March 2024: £2,630,091).

Despite the small decrease in total expenditure the charity was able to expand its Scotland programme at its Dalleagles House in East Ayrshire. Charitable spend in the year was 79p (31 March 2024: 79p).

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%- 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 £576,043 (31 March 2024: £740,569) or 3 months of total operating expenditure (31 March 2024: 3.4 months). Operational restricted funds for breaks stood at £303,795 for year ended 31 March 2025 (31 March 2024: £267,001).

Designated Funds

The Third House fund was spent during the year renovating the Dalleagles property in Scotland. £350K remains in the Fourth House Fund for use at a future date. Unrestricted fixed assets have a net balance of £1,191,160.

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

Fixed Asset Fund £1,191,160 Fourth House Fund £350,000 Total £1,541,160

20

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 2025.

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 applicable law and regulations.

They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Structure, Governance and Management

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

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

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

Full Board of Trustees meetings are held four times a year to review and agree major areas of policy.

The agenda for these meetings also addresses performance, budgets, future strategy, and risk management.

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

The current Sub-Committees are:

Policy

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

Finance

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

Income

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

22

Risk Policy

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

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

ESG reporting (Environmental, Social and Governance)

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

Overall, the charity provides a public benefit and seeks to do so in a sustainable way and by minimising any negative environmental impacts. Current initiatives include: the use of solar panels on the roof of 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 ESG 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, 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 22 October 2025 and signed on their behalf by:

Laurie Oppenheim Chair of the Board of Trustees

----- Start of picture text -----
23
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Independent Auditor’s Report

Opinion

We have audited the financial statements of The Honeypot Children’s Charity (the ‘charity’) for the year ended 31 March 2025 which comprise Statement of Financial Activities, Balance Sheet, Statement of the Cash Flows and notes to the financial statements, including significant accounting policies.

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

In our opinion the financial statements:

Basis for opinion

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

We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the Trustees’ annual report, other than the financial statements and our auditor’s report thereon.

The Trustees are responsible for the other information. 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.

If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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

24

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.

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.

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.

25

IYKE

Financial Statements

The Honeypot Children’s Charity Statement of Financial Activities Year End 31 March 2025

----- Start of picture text -----
Unrestricted Restricted Totals Totals
Funds Funds 31 Mar 2025 31 Mar 2024
Notes £ £ £ £
Income
Donations and legacies 2 1,484,213 501,940 1,986,153 1,827,931
Other trading activities 3 97,009 - 97,009 367,788
Income from investments 2 22,920 - 22,920 36,879
Income from charitable activities 2 46,695 - 46,965 3,700
Total income and endowments 1,651,107 501,940 2,153,047 2,236,298
Expenditure
Expenditure on raising funds 3 513,088 - 513,088 543,931
Expenditure on charitable activities 4 1,519,966 467,234 1,987,201 2,086,160
Total expenditure 2,033,054 467,234 2,500,289 2,630,091
Other recognised gains/losses
Unrealised profit/(loss) on investment assets 9 14,681 - 14,681 1,375
Total expenditure and other recognised
2,018,373 467,234 2,485,608 2,628,716
gains/losses
Net movement in funds (367,267) 34,706 (332,561) (392,418)
Fund balances brought forward at 1 April 2024 2,484,470 960,217 3,444,687 3,837,105
Fund balances carried forward at 31 March 2025 2,117,203 994,293 3,112,126 3,444,687
----- End of picture text -----

All income and expenditure relates to continuing activities.

There were no recognised gains or losses for 2025 other than those included in the Statement of Financial Activities.

27

The Honeypot Children’s Charity Balance Sheet Year End 31 March 2025

----- Start of picture text -----
31 Mar 2025 31 Mar 2024
Notes £ £
Fixed assets
Tangible assets 8 1,705,387 1,491,055
Investments 9 531,713 510,602
2,237,100 2,001,657
Current assets
Debtors 10 117,389 220,891
Short term deposits and savings accounts 702,811 1,151,994
Cash at bank and in hand 226,085 325,242
1,046,285 1,698,127
Creditors: amounts falling due within one year 11 (171,259) (255,097)
Net current assets 875,026 1,443,030
Total assets less current liabilities 3,112,126 3,444,687
Net assets 3,112,126 3,444,687
The funds of the charity:
Unrestricted funds
General funds 16 576,043 740,569
Designated funds 16 1,541,160 1,743,901
2,117,203 2,484,470
Restricted funds 17 994,923 960,217
Total charity funds 3,112,126 3,444,687
----- End of picture text -----

The financial statements on pages 27 to 38 were approved by the Board of Trustees on 22 October 2025 and signed on their behalf by:

Laurie Oppenheim Chair of the Board of Trustees

28

The Honeypot Children’s Charity Statement of Cash Flows Year End 31 March 2025

31 Mar 2025 31 Mar 2024
Notes £ £
Net cash provided by operating activities
15
(240,341)
(405,992)
Cash fows from investing activities:
Interest income
22,920
36,879
Net (additions)/disposal of tangible fxed assets
(324,488)
(79,418)
Net (additions)/disposal of investment income portfolio
(6,431)
(8,896)
Net cash provided/(used) by investing activities (307,999) (51,435)
Increase (decrease) in cash and cash equivalents in the year (548,340) (457,427)
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 1,477,236
928,896		 1,934,663
1,477,236

29

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 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, Wales and Scotland. They are recorded as received.

1.4 Resources expended

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

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

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

Resources expended include attributable VAT which cannot be recovered.

1.5 Tangible fixed assets

Tangible Fixed Assets costing more than £2,000 and computer equipment are capitalised and included at cost. Depreciation is applied to all Tangible Fixed Assets with the exception of freehold land (due to the fact that it 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:


follows:
Freehold land Nil
Freehold buildings 1.66% straight line
Freehold buildings - new build 3.33% straight line
Fixtures and fttings
20% straight line
Equipment 25% straight line
Motor vehicles 25% reducing balance

30

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.

A distinction is made on freehold buildings. Where the buildings are made with brick primarily, and are old and established, the depreciation is set at 1.66% with a deemed life of 60 years. Where the buildings are new build and partly built with brick, the depreciation is set at 3.33% with a deemed life of 30 years.

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%.

1.13 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.

1.9 Short term investments

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

1.10 Purchase of gilts

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

1.11 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.12 Cash at bank and in hand

Cash at bank and 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.

31

2. Income

----- Start of picture text -----
31 Mar 2025 31 Mar 2024
£ £
Trust & Grants 816,240 482,767
Corporate donations 244,101 362,618
Individual donations 774,922 779,546
Community fundraising 150,890 203,000
Total donation and legacy income 1,986,153 1,827,931
Interest receivable on deposit bank accounts and investment income from gilts
22,920 36.879
and loss of disposal on assets
Total income from investments 22,920 36,879
Other contributions 46,965 3,700
Total income from charitable activities 46,965 3,700
----- End of picture text -----

3. Expenditure on raising funds

----- Start of picture text -----
Activities
Support
undertaken 31 Mar 2025 31 Mar 2024
costs
directly
£ £ £ £
Donation and legacy income 1,986,153 - 1,986,153 1,827,931
Cost of generating donation and legacy income (306,905) (59,109) (366,014) (311,049)
Net donation and legacy income 1,679,248 (59,109) 1,620,139 1,516,882
Other trading activities income 97,009 - 97,009 367,788
Cost of generating trading activity income (87,965) (59,109) (147,074) (232,882)
Net fundraising events and hire of facilities income 9,044 (59,109) (50,065) 134,906
Total fundraised income 2,083,162 - 2,083,162 2,195,719
Total costs on raising income (394,870) (118,218) (513,088) (543,931)
Net donation, legacy and fundraising income 1,688,292 (118,218) 1,570,074 1,651,788
----- End of picture text -----

4. Expenditure on charitable activities

----- Start of picture text -----
Activities
Support
undertaken 31 Mar 2025 31 Mar 2024
costs
directly
£ £ £ £
Respite breaks and digital outreach 1,511,607 475,593 1,987,200 2,086,160
Total charitable expenditure 1,511,607 475,593 1,987,200 2,086,160
----- End of picture text -----

During the year there was £405,514 of restricted charitable expenditure (year ended March 2024: £745,654).

32

5. Support costs

----- Start of picture text -----
Fundraising:
Fundraising: Charitable
Donations 31 Mar 2025
Events activities
& Legacies
£ £ £ £
Finance, audit and payroll costs 16,536 16,536 132,288 165,360
Executive and professional costs 34,331 34,331 277,370 346,032
Premises and IT costs 7,901 7,901 63,204 79,006
Other office support costs 341 341 2,731 3,413
Total support costs 59,109 59,109 475,593 593,811
----- End of picture text -----

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

----- Start of picture text -----
31 Mar 2025 31 Mar 2024
£ £
Wages and salaries 1,427,339 1,281,157
Social security costs 139,928 130,011
Pension costs (money purchase scheme) 78,045 75,310
Total staff costs 1,645,312 1,486,478
----- End of picture text -----

During the year, four employees received remuneration greater than £60,000: one in band £120k-130k, one in band £80k-90k, two in band £60k-70k (year ended March 2024: one in band £110k-120k, one in band £80k-90k, three in band £60k-70k).

The leadership team comprises of the Chief Executive, Director of Operations, Director of Finance, Personnel & Training Manager, Head of Marketing & Communications, and Head of Lottery & Statutory Grants. Total benefits paid in the year ended 31 March 2025 were £335,181 (year ended March 2024: £446,498).

Trustees neither received nor waived any emoluments during the year. Trustee travel expenses during the year were: £nil (year ended March 2024: £nil).

7. Staff numbers

The average number of employees analysed by function was:

----- Start of picture text -----
31 Mar 2025 31 Mar 2025 31 Mar 2024 31 Mar 2024
Full-time Part-time Full-time Part-time
Charitable activities 14 26 13 31
Cost of generating funds 7 2 6 2
Management and administration 1 4 2 4
Total number of employees 22 32 21 37
----- End of picture text -----

33

8. Tangible fixed assets

----- Start of picture text -----
Freehold Fixtures
Motor
land & & Equipment 31 Mar 2025
vehicles
buildings fittings
£ £ £ £ £
Cost
At 1 April 2024 1,510,360 724,791 214,934 153,073 2,603,158
Additions 343,544 11,546 2,571 29,745 387,406
Disposals (62,918) (62,918)
At 31 March 2024 1,853,904 736,337 217,505 119,900 2,927,646
Depreciation
At 1 April 2023 352,718 458,972 177,716 122,697 1,112,103
Charge for the year 50,321 89,250 11,737 15,030 166,338
Depreciation eliminated (56,182) (56,182)
At 31 March 2024 403,039 548,222 189.453 81,545 1,222,259
Net book value
At 31 March 2025 1,450,865 188,115 28,052 38,355 1,705,387
At 31 March 2024 1,157,642 265,819 37,218 30,376 1,491,055
9. Fixed asset investments
31 Mar 2025 31 Mar 2024
£ £
(1) Government gilts purchase 507,677 501,536
Other cash and income 9,353 7,689
Book value of investment at 31 March 2024 517,030 509,225
Unrealised investment gains at 31 March 2024 14,681 1,375
Market value at 31 March 2024 531,711 510,600
Original cost at 31 March 2023 500,000 500,000
(2) Unquoted UK investment at cost 2 2
At 31 March 2025 531,713 510,602
----- 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 2025 the book value of the investment was £517,030. The market value of the investment as at 31 March 2025 was £531,711.

(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 2025 was £nil. The company was dormant throughout the year.

34

10. Debtors and prepayments

----- Start of picture text -----
31 Mar 2025 31 Mar 2024
£ £
Trade debtors 15,675 28,670
Accrued income 48,089 77,703
Tax repayment claim 2,043 18,319
Other debtors 3,978 6,083
Prepayments 47,604 90,116
Debtors: amounts falling due within one year 117,389 220,891
----- End of picture text -----

11. Creditors: amounts falling due within one year

----- Start of picture text -----
31 Mar 2025 31 Mar 2024
£ £
Trade creditors 35,588 103,278
PAYE & National Insurance 34,291 34,570
Other creditors 8,587 8,684
Accruals 54,777 75,918
Deferred income 38,016 32,647
Creditors: amounts falling due within one year 171,259 255,097
----- 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 2025), an amount received for the 2025 House to House cycle event, and payments for respite breaks happening after the year end.

----- Start of picture text -----
£
Balance as at 1 April 2024 32,647
Amount released in year (32,647)
Amount deferred in year (2025 London Marathon) 10,979
Amount deferred in year (2025 House to House event) 10,937
Amount deferred in year (2025 Respite Breaks) 16,100
Balance as at 31 Mar 2025 38,016
----- End of picture text -----

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13. Operating lease commitments

At 31 March 2025 the charity had commitments under a non-cancellable operating lease on land, buildings and motor vehicles as follows:

----- Start of picture text -----
31 Mar 2025 31 Mar 2024
£ £
Due within 1 year 11,387 1,662
Due between 2-5 years 40,852 18,535
Total lease commitments 52,239 20,197
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Total spent in the year on operating leases was £6,646 (year ended March 2024: £6,646).

14. Analysis of net assets between funds

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Restricted Designated General Total
Funds Funds Funds Funds
£ £ £ £
Fund balances at 31 Mar 2025 are represented by:
Tangible fixed assets 514,228 1,191,160 - 1,705,388
Investments - - 531,713 531,713
Current assets 480,695 350,000 215,590 1,046,285
Current liabilities - - (171,259) (171,259)
Total funds 994,923 1,541,160 576,044 3,112,127
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15. Reconciliation of net movement in funds to net cash flow from operating activities

----- Start of picture text -----
31 Mar 2025 31 Mar 2024
£ £
Net movement in funds (332,561) (392,418)
Add back depreciation charge and loss on disposal 110,156 148,958
Add back losses/(gains) on investment assets (14,681) (1,375)
Deduct investment income (22,920) (36,879)
-
(Increase)/decrease in debtors 103,502
Increase/(decrease) in creditors (83,838) -
Net cash used in operating activities (240,341) (281,713)
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16. Unrestricted funds

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31 Mar 2024 Income Expenditure Transfers 31 Mar 2025
£ £ £ £ £
General Reserve 740,569 1,651,107 (1,940,326) 124,693 576,043
Designated Funds
Fixed Asset Fund 950,571 - (78,048) 318,637 1,191,160
Third Honeypot House Fund 243,330 - - (243,330) -
- - -
Fourth Honeypot House Fund 350,000 350,000
Matched Giving Fund 200,000 - - (200,000) -
1,743,901 - (78,048) (124,693) 1,541,160
Total unrestricted funds 2,484,470 1,651,107 (2,018,374) - 2,117,203
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The General Reserve represents free funds of the charity, which are not designated for any particular purpose.

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

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

The 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

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31 Mar 2024 Income Expenditure Transfers 31 Mar 2025
£ £ £ £ £
-
Respite breaks & outings 33,033 285,112 (173,119) 145,026
SEAL breaks 233,968 113,800 (189,000) - 158,768
Children’s Breaks Fund 267,001 398,912 (362,119) - 303,794
Wellbeing Fund 8,850 - (8,850) - -
Wellbeing Fund 8,850 - (8,850) - -
-
Equipment 684,366 103,028 (96,265) 691,129
-
Equipment Fund 684,366 103,028 (96,265) 691,129
Total restricted funds 960,217 501,940 (467,234) - 994,923
----- 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 £8,587 (year ended March 2024: £8,863).

19. Related party transactions

The amount of charitable donations from Honeypot Trading Ltd, the 100% subsidiary, was £nil (year ended March 2024: £nil).

20. Control

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

21. Auditor’s remuneration

The auditor’s remuneration constituted an audit fee of £12,096 (year ended March 2024: £11,520).

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14,.1 r*S- 39

The Honeypot Children’s Charity Spaces 12 Hammersmith Grove London W6 7AP

www.honeypot.org.uk

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

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