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2023-12-31-accounts

REGISTERED COMPANY NUMBER: 13260410 (England and Wales) REGISTERED CHARITY NUMBER: 1194547

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE HOTHOUSE AT REDHOUSE

Wallace Crooke Walsall Limited Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT

THE HOTHOUSE AT REDHOUSE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5 to 6
Notes to the Financial Statements 7 to 11
Detailed Statement of Financial Activities 12

THE HOTHOUSE AT REDHOUSE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity's objects are to advance the Christian faith and the education of children and young people in particular by the provision of a safe environment for them to gather for educational, recreational and other leisure time activities so as to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society and their conditions of life may be improved.

The trustees have paid due regard to guidance issued by the Charity Commission on public benefit and feel that this has been achieved by their efforts to maximise the trust's income and provide its services to the local community.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

2023 saw encouragement in working more closely with members of the nearby Tynings Lane CofE church. Through discussions with the church committee, it gradually became clear to the Trustees and central staff team that this is the shape of the future and working together will enable the Hothouse to better fulfil our charitable aims.

The second encouragement in 2023 was the development of the work with local teenagers. Numbers at the weekly youth meeting average 14 and some of the older members are starting to take leadership responsibility.

During 2023 changes within the Hothouse staff team began. The present team leader Amie Iddon who invaluably developed the Christian ethos of the charity and led on our 'outward-facing' care for young people and their families on the Redhouse estate, reduced her hours as she began training for ordained ministry in the Church of England. The Trustees are very grateful for her continuing involvement in a smaller and more focussed role. By juggling the hours each staff member works and by appointing another part-time leader (who also works with the Tynings Lane church) the regular programme has continued.

In 2024 more staff changes are expected - and so the Trustee are looking carefully at succession planning. The Hothouse has welcomed more volunteer support from local churches, which will be of great assistance in 2024. Our thanks to staff and volunteers for helping the Hothouse make a positive difference in people's lives.

FINANCIAL REVIEW

Financial position

The Charity has been very well supported by the local church and local charities in 2023 to a greater extent than expected.

Income for 2023 was £45,458 (2022 - £38,387) and costs remained steady at £47,952 (2022 - £47,348). Unrestricted reserves for 2023 were £112,925 (2022 - £115,658).

This has given the Hothouse extra time to explore fresh funding support in 2024 for the ministry in 2025. The funding needs will flow from the next 'chapter' of service to the wider community and the new staffing structure required to deliver this care.

The Trustees are grateful for the goodwill and support of local people and we are most grateful to the Lord for blessing these initiatives.

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THE HOTHOUSE AT REDHOUSE

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023

FINANCIAL REVIEW

Reserves policy

The Trustees reviewed the Reserves Policy during 2023 and expect the Unrestricted reserve amount to be in excess of £15,000. This figure is modelled on three months core expenditure which the Trustees have determined to be acceptable as part of their ongoing approach to risk management.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

13260410 (England and Wales)

Registered Charity number

1194547

Registered office

Aldridge Parish Church, Church Office 14 The Green Aldridge Walsall WS9 8NH

Trustees

Patrick Stephen Doel Minister Of Religion Suzanne Jane Letts Chartered Accountant John Howard Wearing Solicitor The Venerable David Lee Retired Archdeacon Annette Rosemary Homer Retired Headteacher (appointed 9/2/2023) Rachel Ann Sedgwick

Company Secretary

Independent Examiner

Richard Smallwood FCCA, ACA Wallace Crooke Walsall Limited Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT

Approved by order of the board of trustees on 30 April 2024 and signed on its behalf by:

The Venerable David Lee - Trustee

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HOTHOUSE AT REDHOUSE

Independent examiner's report to the trustees of The Hothouse At Redhouse ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Richard Smallwood FCCA, ACA The Institute of Chartered Accountants in England and Wales

Wallace Crooke Walsall Limited Chartered Accountants Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT

30 April 2024

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THE HOTHOUSE AT REDHOUSE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
33,998
Investment income
3
6,600
Total
40,598
EXPENDITURE ON
Charitable activities
4
CHARITABLE
42,670
NET INCOME/(EXPENDITURE)
(2,072)
RECONCILIATION OF FUNDS
Total funds brought forward
114,997
TOTAL FUNDS CARRIED FORWARD
112,925		 Restricted
fund
£
4,860
-
4,860
5,282
(422)
661
239		 2023
Total
funds
£
38,858
6,600
45,458
47,952
(2,494)
115,658
113,164		 2022
Total
funds
£
33,508
4,879
38,387
47,348
(8,961)
124,619
115,658

The notes form part of these financial statements

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THE HOTHOUSE AT REDHOUSE

BALANCE SHEET 31 DECEMBER 2023

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
9
72,000
CURRENT ASSETS
Cash at bank
42,119
CREDITORS
Amounts falling due within one year
10
(1,194)
NET CURRENT ASSETS
40,925
TOTAL ASSETS LESS CURRENT
LIABILITIES
112,925
NET ASSETS
112,925
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
-
239
-
239
239
239		 2023
Total
funds
£
72,000
42,358
(1,194)
41,164
113,164
113,164
112,925
239
113,164		 2022
Total
funds
£
72,000
44,645
(987)
43,658
115,658
115,658
114,997
661
115,658

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

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THE HOTHOUSE AT REDHOUSE

BALANCE SHEET - continued 31 DECEMBER 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 30 April 2024 and were signed on its behalf by:

The Venerable David Lee - Trustee

The notes form part of these financial statements

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THE HOTHOUSE AT REDHOUSE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Investment returns are recognised when receivable and the amount can be measured reliably by the charity.

Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Expenditure

All expenditure is accounted for on an accruals basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds can only be used for particular restricted purposes within the objects of the charity.

Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

2. DONATIONS AND LEGACIES

2023 2022
£ £
Cooper and Jordan Trust 18,000 14,562
Other donations and gift aid 20,858 19,446
38,858 33,508

continued...

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THE HOTHOUSE AT REDHOUSE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

3. INVESTMENT INCOME

INVESTMENT INCOME
2023 2022
£ £
Rents received 6,600 4,761
Deposit account interest - 118
6,600 4,879

4. CHARITABLE ACTIVITIES COSTS

CHARITABLE
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Rates and water
Insurance
Light and heat
Telephone
Sundries
Activities
Repairs and maintenance
Independent examination fee		 Direct
Costs (see
note 5)
£
47,952
2023
2022
£
£
31,814
29,718
682
220
1,280
1,098
1,056
879
493
713
1,601
722
8,146
8,559
1,566
4,439
1,314
1,000
47,952
47,348

5. DIRECT COSTS OF CHARITABLE ACTIVITIES

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

continued...

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THE HOTHOUSE AT REDHOUSE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

7. STAFF COSTS

Wages and salaries
The average monthly number of employees during the year was as follows:
Charitable activities
No employees received emoluments in excess of £60,000.
8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
27,347
Investment income
4,879
Total
32,226
EXPENDITURE ON
Charitable activities
CHARITABLE
41,069
NET INCOME/(EXPENDITURE)
(8,843)
RECONCILIATION OF FUNDS
Total funds brought forward
123,840
TOTAL FUNDS CARRIED FORWARD
114,997		 2023
£
31,814
31,814
2023
3
Restricted
fund
£
6,161
-
6,161
6,279
(118)
779
661		 2022
£
29,718
29,718
2022
3
Total
funds
£
33,508
4,879
38,387
47,348
(8,961)
124,619
115,658

continued...

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THE HOTHOUSE AT REDHOUSE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

9.
TANGIBLE FIXED ASSETS
COST
At 1 January 2023 and 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accruals and deferred income
11.
MOVEMENT IN FUNDS
Unrestricted funds
Unrestricted funds
Restricted funds
Restricted funds
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
Unrestricted funds
Restricted funds
Restricted funds
TOTAL FUNDS		 At 1/1/23
£
114,997
661
115,658
Incoming
resources
£
40,598
4,860
45,458		 Freehold
property
£
72,000
72,000
72,000
2023
2022
£
£
1,194
987
Net
movement
At
in funds
31/12/23
£
£
(2,072)
112,925
(422)
239
(2,494)
113,164
Resources
Movement
expended
in funds
£
£
(42,670)
(2,072)
(5,282)
(422)
(47,952)
(2,494)

continued...

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THE HOTHOUSE AT REDHOUSE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023

11. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1/1/22
£
Unrestricted funds
Unrestricted funds
123,840
Restricted funds
Restricted funds
779
TOTAL FUNDS
124,619
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
Unrestricted funds
32,226
Restricted funds
Restricted funds
6,161
TOTAL FUNDS
38,387		 Net
movement
At
in funds
31/12/22
£
£
(8,843)
114,997
(118)
661
(8,961)
115,658
Resources
Movement
expended
in funds
£
£
(41,069)
(8,843)
(6,279)
(118)
(47,348)
(8,961)

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

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THE HOTHOUSE AT REDHOUSE

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 38,858 33,508
Investment income
Rents received 6,600 4,761
Deposit account interest - 118
6,600 4,879
Total incoming resources 45,458 38,387
EXPENDITURE
Charitable activities
Wages 31,814 29,718
Rates and water 682 220
Insurance 1,280 1,098
Light and heat 1,056 879
Telephone 493 713
Sundries 1,601 722
Activities 8,146 8,559
Repairs and maintenance 1,566 4,439
Independent examination fee 1,314 1,000
47,952 47,348
Total resources expended 47,952 47,348
Net expenditure (2,494) (8,961)

This page does not form part of the statutory financial statements

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