**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
-3-
## **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
-4-
## **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
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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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