The Family Holiday Association Trustees, Report and Financial Statements for the 16-month period ending 31 December 2020 •x FAhilLY HOLIDAY 4 ASSOCIATION Company Registration number 02301337 (England and Wales) Charity Registration number 8cxn62 (England and Wales) Charity Registration number SC048203 (Scotland) The charlty that gives families a break
Fonlty MfdayAwdatton Coundl Mr D J Burling Mr J M Appleby Ms J M Rldgway P A Harris (Chair) MrMJ C Saxc Mr J de Vial hts J Tucker Charfty number (Engtand and Wales) 8(KJ262 Charlty number (Scotland) SC048203 Company number 02301337 Prfndpal address 7-14 Great Dover Street Londc SE14YR Reg15tered office 7-14 Great Dover Street SE14YR Audttor CBW knjit Llmited 66 Prescot Street E18NN
Famlly Hoilday As*datt( Trustets, rtwi ftrwidai Jtatefflwts lor tre 16 pwknd to 31 lye a)20 Contents Chafr and CEO'S welco ...................................................................................... Vfsfon, purpose and publfc benefit............................................................................ Activities and achievements....................-..-.-...-...--..-.--.--.--.........-..-..--..-................ Achfevements agafnst ourstrategy........... ............................................................. Dlrectly provide short breaks and day trips. .............. Champlon holidays as a forts for goc#d.................................................................. Be an effective, well managed and better govemed waanlsatlon.................................. Maintain ourfinandal indeperKlence.................................................................... Utflise new techThkn to Comect breaks and days ¢wtwith families............................. Future ptans..........................................................................................-......... Finandal revlew................... Reference and adrnfnistrative detafls.................. Structure, 8ovemaKe and management................................................................... 12 Trustee's resp57b]I1tfeS In retation tofina1al staternents...................................... 15 Statement as to dlscl<)SLre to ow audltors...................................................... .. . .... 16 AIKlitor reappointment..................-..-..-..--........................................................... 16 Approval........................................-..--.--.--..--.-..-............................................. 16 Independent alIt(S report.....................................................--.-.............--..--...-. 17 5tatemert of financtal activities............................................................................ 20 Summary Income and expendfjtLYe accixmt................................................................ Balance sheet.........,...,............................................-..-..-..-.............................. 23 Staternert of cash flO....................... .....................................................--....... 25 Note5 to the finarKfal statements........................................................................... 26 11 The Board of Tnstees of Family Holiday Association presents Its report with the financial statements for the 16-month perfod ended 31 December 2020, which are al50 prepared to meet the requirernents for a directors. report and accounts for Companfes Act purpose5. The finandal statements have been prepared in accordance wSth the accounting poliaes set out In note 1 to the finandal statements and c¢)rnply with the charitys Articles of Association. the Cornpanies Act 21x16, the Charftles and Tnts Investment {5cotland) Act 2tQ5, the Charities AccoLnts (scotla1> Regulations 211)6 las amended) and "Accounting and Reporting by Charfties: Statement of RecllMended Practi applicable to charities preparlng thefr accowjts fn accordance wfth the Flnanclal Reporting Standard appllcabte in the UK and Re1C of Ireland (FRS 102) (effective 1 January 2019)".
frmny Assoclatkn Chair and CEO'S welcome As the only national charity dedicated to w5thng trnks and day trip5 for famllies in challengfng circumstances, we were fiyjnded on a belief that time away from horrE together can transform lfves for parents, carers and their thildren. For the first time in ow htstory, we were forced to dose ow service5 in March 2020 arKI Cae1 breaks and holldays we had ptanned for many familie5 who were looklng forward to a lifeline when the COVID 19 pandemic struck As the attention of the nation turned to we could best keep ourselves and each other safe, lockdown5 meant we all experienced a tiny taste of what it means to be unable to enjoy a break durlns a challengtng tlme. Our charfty SUppts families copfng on a low-inCne who rnay already be struggling. Thls pandernic has particuLarly affected them, impacting their finances more severely. maklng it harder for them to access education and sUprt seThices aThJ worsening exlstSng mertal health issues and experlences of dcffnestic abuse Isdation. The pandernlc has left rnore families more VUlnee than ever before. Durlng thfs financial Peri, we took deliberate decls5th)s to conserve re50wces, strengthen o governance and review our strategy to get reaty for the time *then wijuld be able to offer farnflie5 a break again. Thi5 flnandal year would have ended in 2020 tmrt havinq decided to align the main operating season for break5 With our finarKial perlod we changed the year erKI to 31 December 2020. The resultlng 16-rrK)nth financial period, c(xrknined with being largely unable to offer our c¢e services due to restrictTon5 on trave( arKI the irryact of social distancing measures, make this a truly unprecedented period. Inevitably a higher prnportion of our expenditure in the period has gone on raising furK15 than in previou5 years as we couldn't ¥Jend on sendlng families hdlday. That doe5 mean that we ended 2020 in a g(xxl financia( position with an unrestrfcted gJpIu5 of E630k and restricted funds of £103k. But that leaves our reserves above the range set by the Trustees. So, as well as resuming our charitable activitie5 as soon as we can safely do so, these excess furK15 will suPrt a rapid programrne of investment In 2021 aligned to a new Strategy. At the tlme of writlng. we are setting ready to welcome farnllies on a rnh needed break for the first tlme in over a year. We have a vital rde to play in the natfonal recovery yet to come and we are determined that they will be the first of mary. Phlllppa Harrls, Chalr and Kat Lee. 0
FllY lraY Asfodatkn TnJstee5' rewt f#al st•rthts for the 1&mL¥th pwbj to 31 DEC2020 Vision purpose and public benefit The Family Holfday Association fs the only national charity dedicated to providing breaks and day trips for famflles CLyfng w5th some of the t challenge5 ITfe can bring. We help UK familles coping on a low inccKne and often strugsllng w5th problems such as severe and tong-temi 7llness, bereavement, mental health Issues, disability and dcrntic violen. Each famlly we support is referred to U5 by a professlonal in the communlty. Our referral network includes teachers, sodal warkers, health visitor5 arKI other charities. Evidence shows that our work rets In strcfflger. healthier and happier faml(fe5 and c(xnrnunities. This finandal Peri our Board of Trustees spent tirne reftetting ffi Olf ViSi(m, mlssion and values and have refreshed these to make t11 fft fw the future. We rernaTn committed to our charltable objects 'to promote and wovlde acce5S to hotidays and day trips for famflies or rnemLEr5 of families which or who have need of such kK)Ildays or day trips for rest and recreatlon by reason of their youth, age, fll-health, disability, financial hardshlp or other disadvantage. Our updated vision is to transfom Ilves wfth the antfctpation, enjoyrrffit and memory of a break. We'll do this by glving farnllie5 a chance to enjoy time away together. To explore. To have new experiences. To meet new people. To have f. r Val are to be: POSITIVE We bring creatmty. inrK>vation and energy to our work. We focus on what can be achieved arKI we enjoy going beyK1 what people expect. We ask que5tfons and we want to know why? We seek out new ideas arKI are prepared to try and try agaln because that'5 how we learn. CuOuS PURPOSEFUL We are committed to our shared goals and we take deliberate decislons to progress towards them. We are proactive and corsidered. DYNAIAIC We adapt to the w(xld ariJurKI us, and we look ahead to anticipate change. We are energetic. nlrnble arKI re¥)LYSi. MINDFUL We Ilsten arKI we use what we learn to transform ITve5. We care abt farnilles, our sw1p0 ar each other. Our publfc benefft The Trustees have referred to the gutdance contained In the Charity CorrrnissSon's general 8uldance public beneflt when revSewlng tharity's objectives arKI actfvlties, arKI in plamlng Its future artlvlties. In particular, the Trustees consider how planrEd activitie5 wlll contrltxrte to the objectives and actfvltles that have been set. The Famlly Hotiday Assoclations, pthlic berfit is delivered ty working wlth the don*rtic travel and tourism industry to provlde breaks for familie5 who would otherw5se be unable to acces5 them.
Fanfty TrkJlldayAurKlatl And by ustng our unique SItiOn and mcffe than 45 years of experience to advocate for holidays to be recognised as an essential part of famlly life. All our trips and days out are in the UK. We don't offer experlences abroad. Spending quality tirne together as a famlly away friTh offer5 Wcne respite frorn daily hardship) a new sense of Optimlsrn and hope fw the future. For many of the children we help, a break offer5 the Chan to do sEthing for the first time. Everythlng from explwing a new environment. paddling in the sea. txrflthng a sandcastle or flying kite for the first tlme thr<Jugh to seeing landscw and even tILding5 *thich are dlfferent. The joy of slmply seeing other people smile can Ilft them tyrt of their everyday cares and wonfjes and enrfch their Ilves forr. There ts evidence that a family holiday can create lrfelang happy memorie5. Stronger relatlonsh7PS betw&n family members arKI an fnyroved quallty of life. family feedback tells U5 that a short break can lead to: increased partfdpat5on in educati(m and pald wNk improved leaming arKI behavIr at sctrKJoI more proxtive and positive attItleS t(rrtard5 other types of suPrt There is evidence that our charity5 w(ffk results In strLNiger, tralth1er and happier famflfes and communltles. Activities and achievements In the final financial period of our thrtryear strategy tached in 2018, we had no Idea how profoundly we would be impacted by covid. The tran5forniative irnpact of a break cannot be replicated onlfne, and (Jur Tnjrtees were c(rfident that when the pandemic wa5 over farnilies would be more in need of time away from home together than ever. So, whfle our ptans were forced to drastically change when the pandemic hit in Marth 2020, we have remained focussed on the same Strategic aiffG and the financial perforniance arKI goveman whlch underpfn our ability to deliver ow strategic objective5 and maintain our finandal sustafnabllfty. Thfs has requlred the Trustees to take dlfficult declsfons in this financial perfod, all of which have been done w5th the charity'5 miss1 a1 plIC benefit firnily in mind. Achfevements against our Strategy Dfrectly provlde short breaks and day trlps. Our aim Is to reach new cornrnunities and dcxknie the nwnber of famTlie5 we work with each year by the end of 2020. This flnandal peric... In the flrst part of the financial peri(MJ. we were gearing up to reach more famllles than ever before thanks to development of valuabte relati<nships with key partners wh) were donating acCOrrmati0n, attrattion arKI trarw(rt tlckets.
F¥nlly Holk1ay A5%latI( As a result of the government guldance to avoid non-essential travel and later national lockdown in March 2020 we cancelled all confirmed bookings to the end of June 2020 and notified our referrers that we would be pausing the asse5srnent of any applications already in CW Systems, or award of group trip wants tTl firttr*r notlce. We surveyed those referrers In early 2020 to KIetand the impact of the palemIC on the familie5 they 514JPOrt and cm their capaclty to Sup& them. This exposed a stark Increase In the challenges families faced, and a sense of real anxlety about the posed by going on a break in futwe. A lot of our famllfes have pecple who are vulnerable due to health problem5. 50 they are Scared of golng out, but also In desperate need of somethlng to look fttward to. It Is a really dlfficult tlme for a lot of people. l thlnk they wfll need a lot of rea55urance about hyglene and how %>dal dfstanclns on breaks can Referrer, Je 20ZO 96% of respondents said the impact or frequerKy of isdation had Increased because of the pandemlc. The figures were 95% for mental health issues, 88% for low CfidenCe and 78% for domestic violence. When lockdown re5trtctions were eased in early Jdyp we listened to the feedback we received from our referral network and <Jur breaks suppliers and used it to establish five key conditions vthich would need to be met In order for us to saKI families (m urfernight breaks agaln. 1. It must be safe for farnilies. 2. Breaks suppliers mist be operati(Thl, 3. Families must be able to travel to and from thelr break destlnatlon safely, 4. It must be posslble for them to receive adequate support fr(Th thefr referrer. 5. And the experferKe on offer must be fLn. Famlly I referred would need to be able to access amenltles and actfvltles to get the full hollday experlence as they have never had a hollday before so want to experlence all the fun and enjoymert of all the fadlftfes a caravan park ha5 to offer" Referrer, June 2020 These five key condition5 were r#rt met at any point during 2020 and as a result we did not offer any breals after 17th March. We received ¢eThn8 5UNXXt frorn our referrers for this decision. l absolutely understand and respert your dedslon you do such a great Job for our vulnerable famllles. Let's hope that you are able to offor your support sometlme In the future." Edwina, Farnfly Support Worker Overall, fn thls flnancial period we didn't meet afm of doubling nlrnber of famflles we worked with. We provlded 517 families with a sh(rt break We distributed 5 tickets to a single family f(r a day Ixrt.
F¥nKy Hallday A55oditl We supported 1 group. comwlslng a total of 45 funflles. whfch was made of 151 adults and thildren wSth a grant to have a day (xrt. It should be rx)ted that 505 of these family breaks or day trfps took place In September and October 2019 and were erroneously reported in the 2018119 annual report. Thls error has been caused by the dfsparity between our financial period whlch ends during the continuous 'holfday seascm, in hthich we offer IKeaks. What we leamed... We hadn't cansldered the possibllfty that travel would be restricted or banned amongrt the rf5ks for our service delivery. so we didn't have plans for how best to resporKI. This added to the stress and chauenge for staff, who were also deallng vrith their 4ywn personal experlences of the parKlernlc and could have been avoided. In the future we wSll consider this arKI similar scenartos in our ptannlng. Communicatfng CoMeX and hlghly entional messages to farnllles plarning a holiday wa5 rnade rnore challenging because we had no direct relationship with them. We rely on referrer5 to pass on infornation, but some were furloughed, rnade re(lundant, bereaved or unwell. In future we wlll develop a line of cornmunication with familie5 alongside their referrers. There are parts of our customer JOUrr over whfch we have no control or vi5ibfllty where families are communlcating directly with one of our suppliers. Thls made it challenging to ensure everyone received the right message at the right tfme so we will work to ensure we have oversiqht of erfery element of wocess. Charnpfon hollday5 as a force for good. Our alm Is to strengthen the erider base and brfng polKy makers. the travel and tourisrn industry and the social sector together to act for families. Thls financial perioL. We published our rert Into the long-term inyact of a break on families whlch demonstrated lastfng positive impacts on mental health. reduced Isolation and improved relationshlps within farnilie5 and between them and the profe55ional who referred them. We gained the support of Hannah Bardell MP agreed to Chalr an APPG on Inclusive Tourism. Tr inaugural rneeting of this group was scheduled f¢x 25 March 2020 and UnfOrt¢atelY c(xAd not take ptace. We planned an event with towism offidals In Scottish Goverrrt as part of our cffigoing relationshlp with them and 51t 5crtland to Prde breaks to low-lncome famllfes. The Ministers for Mental Health and Equalitie5 were Invited to rneet famiLTe5 and referrers who experienced one of our breaks and talk abcArt the drfference ft had rnade. Unfortunatelyi the event had to be canceLled due to the pandemic. We were an actfve partidpant in England's Indu5ive Tourisrn Action Grow, chaired by 51t England. WThat we leamed... We had made no contingency plars for a scenarfo where lfcY maker5, the travel and socfal sector5 would be fully occupled dealing with a pandemic. Thi5 meant we dith't have a way
FllY of contlnufng to further thTS Strategic aim in these arcumstances. Arguably we would have made little progress whatever our plans. thfs Situation exposed a weakness in (r planning processes we will address in the futwe. The unprecedented restrfctions on travel this >Ear have mafnstreamed a conversatfon about the value of takinq a bre& There fs a real opportunity for us to convene this conversation in support of our rnission as we rnove into 2(r21 and restrfctlons are eased. The discussion around inclusive t(thsm awrfjnw Ws and businesses has focussed on physical acce55ibility for those with a disability or Icm*terni health condftSon. We wlll work to raise awareness of the other barriers to accessing towiyn fKed by farnilie5 we work th. Be an effectlve. well managed and better governed organfsatton. Our aim 15 to strengthen our govemance and erswe we are robust fn the way our cryanSsatfon runs. Thfs financial perioL. Kat Lee Jolrd the charity in January 2020 as its new Chief Executive. We rapfdly adapted to worklns at hc#ne In I1 wlth govemment guldance and accelerated a plamed mfgratlon to Office 365 to suppcrt this. The Trustees purs1 a strategy of CaerVIng resources a5 far a5 P055ible in the Short tenn In order to be able to rneet the needs of fam?lies when break5 away frn home c(xAd resume. We furloughed staff involved in dellverfng breaks, looklng after our premlses and runnlng fundralsing events and scaled back resourcing in other areas. We undert<Jok a detalled strategic re4iew and Trustees and staff worf(ed (remotely) on developing the r£xt strategic directi<Jn for the charity. We found we were resourced to support the charity as it had operated prior to changes in its fwKling structure arKI digital developments seen Sn recent years we were missing 5(xne essential skll15 for the future. As a result, we took the dlfficult dedsion to rnake some changes to staffing structure whith resulted in redUndaY for four of our team. We gave notlce on the office premises the charity has CuPied Since 2011. We will adopt new ways of workTn8 which wlll reduce expenditure on premises in the future witlxxjt cornpromising on the quality of support for staff to fuLfiI thefr roles. We commissioned an iThJependent review of sovernance at the charfty to benchmark our perforrnance against the Charity Governance Code. The flndings and associated action plan will support Trustees to prioriti5e wcKk in the coming year. We changed our financlal year end. bringing it into Ilne wlth the hollday season and calendar year and brin8ing greater clarity and transparency for staff, Trustees and supporters. What we learned We have been ambitious abcmrt the scale and Pa of change we want to see at the charity, and that has been hard work for both staff and Board to dellver. espedally against the backdrop of the pandernic which has taken its own emotional t1. We wlll cont5rHJe to bulld supportive cture which values wellbeing alryide wtputs.
FanfjLy HolldayAsKc
As a small charfty recruiting to leader5hlp pos1t1$ wlthout the spending power of other5 in
our sector. offering flexlbflfty has enabled us to attract candidates wlth higher level skllls
and experlence than we would othwwise have Lwi able to do.
We can move qulckly. and we can make big charffjes when the Trustee5 and the staff team
work closely together and hold shared aim5. We will c
Famly Hdlday Aswdatlon We haven't made enough pmqress to bulld up new scwces of Income follow5ng the change In r relatlonshlp with TUI UK and Ireland who until 2018 were our primary source of funds. The impact of this has been mitlgated by the recelpt of slgnfficant legacy funds during tms and the previous finanaal period. The* fdS W't last forever though, and we need a programme of rapfd investment in furKlraising to halt declining Income in most areas and secwe the long.temi futwe of the tharfty. Utllfse new technology to connect breaks and days out wlth famllles who wlll benefit the most. Our aim 15 to develcp dlgital too15 to work wlth holiday pr(Nlder5 and attracti<Th to easfly match opportunltles hfjth famllfes. Thi5 financial perfod.., Staff were able to access our break5 b(ing Wem effectively from h(r arKI utilise it to manage cancellations and erK4uiries from referrer5 and families throughtxrt the year. What we learned... Furloughing meant that staff wfth less hands4Jn experfence of the breaks booldng system needed to use it. We hadn't considered thi5 in ow risk management and in future we will errsure better wrftten manuals are avallable for key processes. Future plans Key deVelOnertts far 2021 Tndude: l•o¥fng out of our office and secuAng new acct)nThthtfon to support hybrfd worklng Revlewing our trwnershSp of caravar Researching whith famflfes are now wble to access a break away frcln home together Revlewing and fmproving the Custo jcxwry for families Building our corporate 5UPPOrter pipeline arKI pfloting new ways to attract Indlvidual s4)porters Revlewing arKI redeveloping our brand and replacing ojr website Buildinq on great delivery partnerthlps wlth Vfslt Scotland, HF Holldays and YHA Establishing better mechanisrrLS for dialogue with families and referrer5 Implementing the finding5 of the governance revlew. Financial review DetslLs of the Famlly Holiday A550ciation income and eXPeIltUre for the 16.month perfod to December 2020 are set out on pages 20 to 21. Inc¢Jne fcr the 16-rMnth perSod was £1,935k {2018119: £1.907k): costs were £1.202k (2018119: £1,498k). The surplus in 2019-20 was £733k comwising an unrestricted surplus of £149k after designatinq £230k as a Flxed Asset FurKI arKI £250k a5 a Digital Investment Fwd (2018119: £0). Canled forward restrfcted funds were £103k12018119: £rKm).
Famlly TrhAlday *s%Klatkn The applfcatfon of funds In swort of the Famlly Holiday Association's tharitable activities is disclosed in note 8. At 31 Decemlkr 2020 total charity furKI balances Increased to £1.973k (2019: £1,240k). In N<wember 2019 Tr[lee5 decided to dewecEate caravan stod( over 8 years rather than 10: this ha5 resulted in an addltlonal depreciation In 2019120 as thts adJLStment is made. Dutlng the year the Famlly Holfday Associati{ received £73,629 fr(m the Coronaviru5 Jd) Retentlc Scheme. Thfs is shown as a separate grant fn the SncorrE note number 6 on. Re5erve5 pollcy In deflnlng Its reserve5 pAicyJ the Famfily Hcliday AsS0datfc has corsidered vthat level of free reserves it is approprfate for the charfty to hcAd in order to enswe its finandal SLlStainability, future 5trateglc development and cont[Ing to operats and dellver fts objectives arKI activities in the event that unforeseen and potentially financially damaglng circumstances arise. It has consldered the reliability and continuance of future income geneTatiiJn and fundfi, timing of cash flow and working capital requirements and cover for planned costs. Free reseries represent unrestricted furKls of the tharfty eXclJ1nI restricted arKI de51gnated funds. The determination of an appropriate reserves level is a key part of the strateglc planning process. The Trn5tees revlew the reserves level an amual basis. along w5th the risk assessment of key areas of income, as this provides the information an adequate level of reserve5 to be malntalned. The severe dlsruption the chaiity has ex[lerKed as a result of Cov119 durfng tms financial period and the gOIng risks related to Tt Is an example of why we hold such free reserves a1 the Trustees are aware that we may need to utilise free reserves durinq 2021 and beyond due to the uncertalnty currertly faced. Tnrtees conslder therefore that it would be to Set asfde an amount equivalent to betVen 40% and 60% of the forthcoming yearfs plarrnl exFEThlfture costs - for 2021 this would be between £71J6k arKI £1,058k. The free reserve5 at 31 December 2020 of £1.297k are £239k al the range of fts reserves policy. The Trustees aLso acknowledqe that a program of strategic irNestment fs needed at the charfty. The Board had planned to comrnentr a programme of investment in the charity during this financial period following the appointment of Kat Lee as Chief Executive, but this has largely been delayed because of the pandemic. The Trustees have agreed a defictt b1get for 2021 to facilitate the dellvery of strategic improvements. Thls is expected to brfng the free reseTh into the target range by the end of the year. Golng conc•rn The Trustees reviewed the Family Holiday ASsocSatl'S financial plans in January 2021, as part of their normal annual review. At that time, they were satisfied that there were sufficient resources to contlNe operating for the foreseeable future arKI accounts have been prepared in the knowledge that the Famfly Holiday Assodati¢Th is a financlally vSable organisation. Wlth regard to the next accounting period, the yEar ending 31 December 2021. the most significant areas that are likely to affect the tharfty's net assets aTe a treThl of declining income acr055 all Income streams and the accompanying Fryramme of rapid investment intded to turn thi5 trend around. 10
F•nlly Hollday A59xla We moved svAftly to erbsure our staff were able to operate remotely following government advice in 2020 and have refined our Set up over the year. We hope to retum to a hYid worklng model wlth some office based and hcffi)e working in the second half of 2021 but our capacity to 4)erate is not affected by the ability to O) so. We have delayed the start of Ixjr breaks season in 20Z1 to accommodate the national IKkdown and wfll concentrdte our service dellvery the secorKI half of the year, taking advantage of the flexibility In date5 we are affded when we breaks from other suppl5ers. We have actively reduced operating costs as far as p055ible, wlth(Krt detrimentally impattlng on our offer to families or capacity to ralse f. arKI we will continue to Teiiew aur plans ta identify any further cost Savings. The charfty has a strong balance strttt, wfth free reseThes of £1,297k and no Indlcation of any short term cashflow shortfall. Given the availability and liquidity of these unrestslrted funds. the Trustees believe the charfty wfll have Sufficient resources to meet its liabilitie5 as they fall due. As such, they remain satisfied that the charfty can crtinue operatlng for the foreseeable future and these accounts have been prepared a goirY4 c<Jncern basis. Reference and administrative details StatUS The organisation is a charitable company Ifmfted by guarantee, incorporated on 30 5epternber 1988 and havlng a share capital. The company was 'stered as a char6t on 25 October 1988. The Family Holiday Assodation is governed by its Articles of Association as adopted on 30 November 2018. 02301337 800262 SC048203 3 Gainsfffd Street, London SE12NE (to 1810412021) 7-14 Great Dover Street, London SE14YR (from 1910412021) Governing Document -comp.any number Charity number (England and Wales) Charity number (Scotland) Registered office and operational addre55 Trustees Phlllppa Harris. C air hlarf( Saxon. Treasurer Davld Burli John Appleby Julla Rfdgway John de Ifial Julie Tucker Jacqueline Kerslake Joelie Leader Ito 26 November 2020) Jonathan Scott to 9 Jul 2020 Kat Lee from 6 Janua 2020 Barclays Bank PLC. 89 Hatton Ga EC1 N 8DN CBW AlIt Limited, 66 Prescot Street. London E1 8NN Chief Executive Banker en, London Auditor 11
Famlly Hoilday A3soctatt Structure, governance and management Governfrg document The Famlly Holiday Association is a clanY limited by guarantee governed by its Articles of AssocTation dated 30 November 2018. It Is reglstered as a charity with the Charity Commlssion in England and Wales, and the Office of the Scottish Charity Regulator in Scotland. Appolntment of Trustees As set out in the Article5 of Association, the Board of Tru5tee5 comprises at least three Trustees. Board members may serve up ta two ternis of three Yea from the first meetlng at which the charfty accounts are adopted following their appointment. The Trustees may by a 75% majority dedslon decide that exceptfonal drcwlstances apply and accordingly that a Trustee may be reappointed for further term{5) of office. Trustees. Inductlon and tralnlng On appointment, new Trustees are prded with inforniatfon about the company including Its constitution, strategy and plans, finances, staffing strutture. Their attention Is drawn to relevant Charity Commfsslon guidar£e. They are offered the opportunity to meet w5th the chief executive and other staff for a full briefiry C the organisation's work aTrJ to vtsit the locati(Th fnTh whlch It operates. Organlsatl( The Board is reSpolIAe for the goVernae of the charity. The Tru5tee5 delegate the running of the organi5atlon to the chief executlve. Tr Board rrEets 6 times per year. Trustees The Trust&s who served during the year. aThJ their pattem of attendantr at Board meetin85, are shown in the table below. FAhilLY I. HOLIDAY • ASSOCIATION John leb David Burlfn John de Vial Phfll a Harrfs Jackie Kerslake Joelle Leader Julfa Rid Mark Saxon Julie Tucker. Jonathan Scott Chafr reasjrer nla n/a Key nla: not In post, O: did not atterKI. X.. attended 'obsence due to 111 health 12
Famlly Hoikfay AAodatkn The Board has delegated detailed aspects of its work durfng thls financial period to the Strate working group. The group fs a tlme-limited with no delegated decision-making authority. The Board mernbers who served cn the group were Phllippa Harris (Chair), Jackie Kerslake, Mark Saxon and Julia Rfdgway alongside Kat Lee wh) served as a ctropted member of the group. The strategy W07n8 group was crtituted To consider what the strateglc direction of charity wd have Ilkely been pdor to COVID- 19 to Serve as a baseline and Ffible long-temi Strategic goal. To investigate the potentfal 5cenari05 vthich any COVID-19 exit strategy Shld cader Incluthng tfmelines and resourdng requirements. To take any resulting recommendatlons for actfon to the Board f(Y approval. The Board has agreed to delegate detsiled aspects of its work to the Governan worklng group from January 2021. The group wlll be a tslimfted 8rn with no delegated decision-making authority. The Board members who will Serve on this group are Philippa Hanls {Chalr). John Appleby and Julla Rfdgway alon¥ide Kat Lee who will Serve as a ctropted member of the group. The governance working group wfll be c(Nlt To conslder the recommendation5 of the governance review in 2020 To prioritise, plan execute where appropriate attiorts requlred to implerrErt those recommendations the group ch005e to adopt. To take any resultlng recommendations for acticm to the Board fff approval. To complete the FHA governance marKwl al in place a schedule for subsequent annual r&rfew and update of Its contents a5 appropriate. The Trustees would like to reglster our thanks for the coMmftnt, fnput and Service of Jonathan Scott and Joelle Leader who stepped down on 9 Jdy 2020 aTrJ 26 November 2020 respectively, Key executlve personnel The key executive personnel Family Holiday Associat['S senior leadershlp team) at the end of the year were: Kat Lee, Cmef Executive; Jax Shaw, ExperferKes and Impatt Director. Tarun CIK>tsi, Finance and Resources Dirertor (left 30 April 2021). Mags Rivett had been appoSnted to the rcle of Ine an EngagerrEnt Director aTrJ started in on 4 January 2021. Llz Sell joined as Dlrector of FInae {interfm) C 26 April 2021. Related partles None of the Tntstees receives remunerntion or other benefit from their worf( w5th the charfty. Trustees are Invited to declare any relevant fnterests at each Board meeting, and formally requested to submlt an anwal register of interests. fomi. Board rnber5 have reported no relevant interests or transactions. Remuneratfon pollcy The Board is responsfble for considering Chief Executlve's remuneration. taking account of ski115 and experience required and sector norrrs for charities of similar 5Sze. Staff pay is reviewed annually in relation to the external economic environment and financial affordability for the Family Holtday Assoclatlon. 13
PIlY HoUdtyAs¥od•U Kat Lee'5 salary was £70,(KX) pw annum benefits of 5%. R15k management The Family Hollday Association's approach ts to minimise the organisation'5 exposure to reputatlonal, corrpliance. safeguarding and excessive finandal risk. whllst accepting and encouraging more risk in pursuit of ow mission and strateglc objectives. The Family Holiday As50clation's aFpetite for risk varfes according to the activity urKlertaken, and our acceptance of rfsk Is always subject to ensuring that FM)tential benefits aNI rfsks are fully understood before activltfe5 are auihorised, and that sensible ff£asures to mitigate risk are established. The Board follows a Comprehensi rlsk managet policy which clearly defines the roles of the Board. and senior staff in identifying and managing risk. and how the register of risks should be Used as a live document. The Iw risks currently identified by the Board, and their mitigatlon, are shown in the table below. Key risk ere Is dfsruption to our planned ply of breaks. Mitigation Pre-season checks In our caravans Close mmitorirrd of the government guklelfnes Proactive supplier management Diversification of purchased breals suppliers Recrultment of specfalist staff to increase capadty In frKo generatlon Diverslficatfon of supplter ltst to enable competftfve negotlattons for purchased breaks Reiationshlp deyelopmert with key partners sKh as Scotland and YHA. HF holiday5 cost of delfvering our seryl rKreases more qulckly than our ome e are unable to secure the skil15 e need to de(Iver our strategy Flexibility in working pattems and base locations offered Building a stmng and positive culture Strengthening relatlonshfps with extst5ng funder5 Scoplng wtential for new gJPFK+rters Reauited specialtst staff fn corporate fundraising and individual pandemlc furKlfng prforftles If n other areas such as NH5. oodbanks, homelessnes5. The Ttee5 are satlsfied that apprijpriate Steps are being taken to manage these risks, and that 5uffident procedures are in place to enable managent Tnstees to a55e55 effectivene55 of rlsk management. Compllance wfth the Charfty Gernance Code afm of the Charfty Governan Code ts to tr1p tharitie5 and thelr Trustees deveiq) h1¢) standards of governance. As a sector, we owe it to ow benefidarfes, stakeholders and supporter5 to demonstrate exemplary leadershlp and govemance. The Code is not a legal or regulatory requirement. Instead. the Code sets the seven principles and recommended practice for good Sovernance and fs dellberately aspirational, a tocl CtinUOuS improvement towards the hiqhest standards. 14
Fpffilly A59xkntfc We completed a self.assessment agafnst the Charity Governance Code in March 21no. This identified a number of areas in Nvhich CAJr performance was below the expected benthmark. As a result, the Trustees commissioned Jw Allen at Leading Governance to ccmduct an Independent govemance The revfew recommended actlons to on 1. Creatfon of a Governance Manual and Governance Calendar Dedsian Cover Sheet and Compliance Checkllst 2. Establishing Audit & RI and Norninati( & ReffAmeration Committees Agreeing and embedding the new values 4. Tralnfng and develowent for Board merrkn Board review presseS 5. Improvlng the way that stakeh(Ath can c(ICate with the Board The Governance Working Group will be reSp1ble for taklng forward these recommendatlons on behalf of the Board Sn the flr5t half of 2021. Trustee's responsibilities in relation to the financial statements The Trustees (who are also directors of the Family Holiday Association for the purposes of ccrpany law) are responsible for preparing the Trustees, anNal report Tncluding the strategic report and the financial statements in accordance wfth applicable law and UK Accountlng Standards (UK Generally Accepted Accounting Practice). Company law requlres the TrLStees to prepare financial Statements for each firwncial period which give a true and falrvlew of the state of affairs of the charttable grw and of the incoming resour5 and application of resource5, includlng the Incixne and expenditLre, of the charftable group for that perfod. In preparing these finandal Statements, the Trustees are required to: SeLert suitable account5ng pollcles arKI then apply cc1$tentlY Observe the methods and principle5 in Charlties SORP Make Judsernents arKI estimates that are reasonable and prudent State whether applicable UK AcCCn9 Standards arKI statements of recommended practlce have been followed, subject to ary materlal departure5 disclosed and explained in the financfal statements Prepare the financial statements (m the going c(xKern basis unless it is inapproprlate to presume that the charlty wlll contIn fn operati¢in. The Trustees are responble for keeping pr(w aCcOtIng records that disclose with reasonable accuracy at any time the financfal position of tPt charitable company enable them to ensure that the financtal statements comply vath the C<wnpanies Act 2(. They are also responslble for safeguarding the assets of the charitable compary group and hence for taking reasonable steps for the PreVenOn and detectfon of fraud and other irregularities. Statement as to disclosure to our aLxlitors In 50 far as the Trustees are aware= There Is no relevant audlt Inf0rniatf of whlch tl* charitable C1panY'S alItorS are unaware 15
Farnlly Holfdty The Trustees have taken all steps that tly to have taken to make themselves aware of any relevant audit infom)ation and to e5tabl15h that the auditor5 are aware of that inforniatlon. The Trustees are rewslble for the Maintenan and integrity of the corporate aTKI finandal Information included on the charitable company's websSte. Legislation in the United Kingd(xn governing the pparatfiffi and dissemlnatfon of financial statements may differ from leglslatlon In other Judsdlrtlors. Auditor reappolntment CBW Audit Ltd was reappointed as the charitable company's ajitOrS dfjng the year and has expressed Tts wflllngness to contirnE in that capacity. Approval The Trustee5' arnual reM was approved by Trustees 17 June 2021 and sfjgned on their behalf by rfJZ Philippa Harris Chair Mark Saxon Treasurer 16
THE FAMILY HOLIDAY ASSOCIATION
INDepENDEPTfAUDITOR'S REPORT
TO THE COUNCIL OF THE FAMILY HOUDAY ASSOCIATION
Oplnlon
have audited the financial slatements of The Farrnly Hofiday A$50ciation (the 'Ch for the period ended
31 Decernber 2020 whith comprise the statement of financial activititss, the sumrnary income and expenditure
account. the balan Shee¢ Ihe statement of cash 11ty4ts and tha notes to fmancial statements. induding a
summary of significant accounting pclictes. The fmandal reporting frarnework that has been applied in their
preparation is applicabte law and United lfjngdom A¢countw SdarLI5. including FRS 102 7he Finane1
R8portsng Standard opplkat¥e the UK 8nd Rewth off Ireland (United lfjngdom Genernlly Accepted
Accounting Practir).
In our opinion. the financtal statements:
give a true arKI lair blew of the State of the ¢harilai affaiT5 a5 at 31 December 2020 ond of ils
incoming resources and •plication of resoure£s. for th8 period Ihen ended:
have been propety wepared kn aco)rdance I1h United IQWM Genwaty Aed Pxountwig PraGtic•:
and
have been prnpared in Accordarui with 1ho rnwirements of the Companies Act 2006. the Charfllas and
Trustee Investrnenl (Scouand) Act 2Q)5 aThl reg¢kn 8 of th? Charitss Accwnts (S¢oUaNI) R¢gulaUon¥
2006 las amended).
BaslB for oplnlon
We conducted our audit in accardance with Internattonal Standards on Au(rrttng (UK) (ISAS {UK)) and appllcabl8
law. Our responslbifrtios under those standar
THE FAMILY HOLIDAY ASSOCIATION INDEPENDEKf AUDITOR'S REPORT (CONTIMIED) TO THE COUNCL OF THE FAMILY HOLDAY ASSOCIATION Matt•rn on whl¢h w• aro roqulred to roport by •xc•ptlon We have nothing lo report in respect of the foknyiig matkn in relatlon to whk the Chwitie5 (kcounts and Reports) Regulations 2008 and the Charities Accounts (Scolland) Regulatbns 20Cfj (as ended) requira u8 to report lo you rf. in our oplnlon: the inf(Kmatson grrfen in the finandal is inc(¥n5iStent in any rnaterlal respect ith the Coundfs report or sufficient and proper accounting reconls have not been kept or the financlal ststements are not in agreement wbth the accounting record&. ¢x we have not recer¥ed all the hfftinn8tTh and wlanalion5 rwulre k•r ow audiL R•8poMlbllltl•B of Councl A5 explained more fulty in the statenwt of Councifs re5pmsb, tr Coun, who are also the threctorg af the charity for the purpose of crmpany Ivw. are responsbl8 for the preparation of the financial statements and for being sattsfied that they gtve a true and fair vm¥. and for Swh intemal conlToI as the Councll detennine is necessary to enable the weparali¢Jn of fmncral Stalennts that we frne fram rnatsrlal wl8StatemenL whether due to fraud or error. In preparing the financial statements. the Coun1 •e wponslble for assessww th8 abilty to continue as a going ¢oncem, discloslng, as applicable. rnatters related to going concern and usSng the goyw concem basis of ac£ounting unless the Coun¢il eilher intend to liquidale Ihe tharitable COMP to cease operAtions. or have no mllstic altemalive but to do sa. Audltorf• rMponslblllU•8 for tho aud of the fln•nclal Blai•m have been appointed as auditor under sqckn 144 of Ihe Charties Pd 2011 wd section 44{1){c) of the Charitres and Tnjstee Investment (Sco11and) 2005 and rewi in accordance with the Acts and relevant regulations made or havtng effect thereunder. Our objectsves are to ubtstn reasonable assurance abrArt whether the fffrnncial statements as a whole are fr•• from material Mment whether due to fraud ernr. and to tssue an audllorfs repryl that includes our oplnion. ReasOne a5surdft is a h3h level of assurance but is not a guarantee that an audit conducted in 8ccordan¢e with ISAS (UK) will al4Yays d8tect a materlal misslment when it e515. Misstatements can arise from fraud or error arKI e considered material il, IndNiiduaty or in the aggregat&, Ihey could re350nably be expected lo Infiuence the econorrKc derision5 of uws l*en on basls of these financial statements. A further de6¢rSMlw of our responslblllties for the audit cl the financial statwnents 15 located on the Finandal Reporting Council's website at: hllpsJlW#.lLjknyEVn6lt1lItI?$. This descripth)n fomis part of our auditors reporL fr olour Mport Thi5 f8FIDrt Is made solety to the charitrs trustee5, a5 a W. in accortsce wKh part 4 of the Charittes {N£counts and Reports) Regulatlons 2008 and regulation 10 of the Charitles Accounts (Scotlandl Regulattons 2006. audit work has undertaken so that we might state to the charibks trustees those matters we are requl tate lo them in on autkors. report and for no othw pur1xe. To the fullest exiwrt miItted by law, v t or assume SponsIbl1ty to anycYM> other than the th&ity and the thaiTtrfs trustees as a bly, for rthis for th• OFMnions ha Icm)ed. our dlt Paul Woow {S•nlor Statutory Audtto for and on behalf of CBWAudft Umlt•d Chart•r•d A¢¢ountsnts Statutory Audltor 66 Prescot StsB8t LondDn E18NN
THE FAMILY HOUDAY ASSOCIATION INDEPENDENT AUDrroR'S REpoKf (CONTINUED) TO THE COUNCIL OF THE FAMILY HOUDAY ASSOCIATION CBWAuifrt Limited is afigble for app)Intrn8nt as au(rrtor of the charity by of ils efigbiw for appokrtment as auditor ofa company under of section 1212 of the Companies Act 200&
OP4
¢¥J •) e• ¢
THE FAMILY HOUDAY ASSOCIATION SUMMARY INCOME AND EXPENDrruRE ACCOUKr FOR THE PERIOD ENDED 31 DECEMBER 2020 All Incom• funds Perfod endod 31 D•c•mber 2020 31 August 2019 Gross ncome I.9343 1.9CI8.529 Total expendlture fram income fvnds 1,202,184 1,498,C67 Net kncome for th• p•rlod 731379 408.462
THE FAMILY HOLIDAY ASSOCIATION BALANCE SHEEr AS AT 31 DECEMB1 2020 2019 xed as80ts Tangible asse18 Investments 14 Is 230,647 130.481 301,537 127.515 361.128 429.052 Currnnt oM•ts Debto Cash at bank and in hand 133.543 1.SKI,445 128.029 717,227 1.n3,988 845,256 Crndltor8: amounts hlllng du• wtthln one yoar 17 (94.rffi) (34,378) Net cuThent assets 1.629.925 810.878 Total a•B•ts1•88 ¢urMnt I1111 1,991.053 1,239.930 Provl•lon• for IlabHIII88 (1 &500} Nèt a88•ts 1.972.553 1,239,930 Capltal fund• Endowffent funds Incom• fund• Restric funds 130,481 130.238 102.741 Designated funds General unrestricted funds 480,647 1258.684 1.109.692 1.739.331 1,109,6W2 1.972.553 1.239,930
THE FAMILY HOUDAY ASSOCIATION BALANCE SHEEr (copinNUED) AS AT 31 DECEMBER 2020 The cornpany 15 entilled to the exerytion from the autht requTrwMnt conlalned In section 477 of the Companles Act 20LE, far the period ended 31 December 2020, although an audtl has been canied out undw Sect 144 of the Chariti8s Act 2011. The dlrectar aCknuge5 her reswJnsiLMliti8s enwrDvJ that th• thaiity keep5 accountlng recorfs whlch compty with section 386 of the Act for preparing financial ststhents which give 2 true and falr vlw of the state of affairs of th8 company as at the end of the financial year and of its incoming resouw and apptAtIOn of resources, including its income and eypenditure, for the finan¢tal year in accordance wrth thé rnquirements of sections 394 and 395 and which otherwise compty wlth the requirements of thè Cryni•B Act 2006 relating to finandal statements. so lar as acable to the company. The members have nol required Ihe compary to obtain an audit of its ffftarti81 statements the requirements of the COmpare$ Act 2006. the per in questsn in accordance ryth seclion 476. These financial statements have been wepnr•d in acc(Xd wlth ts provwjns awllcable to cLryanie8 4e¢t to the small companles The arKI31 statements were apprrpMd ty the Cnl on ...-.................... Ms PA Harris (Chair) Tnts• Mr M J C Sax(m (Treasurer) TruBt•• Company Rogl•tratlon No. 02301337
THE FAMILY HOLIDAY ASSOCIATION STATEMEKf OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2020 2020 2019 Cash flovm from oporathg a¢tlvttl Cash gonerated Irn OpwatiS 315.225 Invostlng acllvltl•s Purchase oftsnglble flxed assets Proceeds on dIsw$ ol tangble frxed assets Investrnent income receivad (19.132) (42.277) 4.746 Nat cash u•0d In Inv•6tlng a¢tlvlll•8 (10.864) (14,878) Not •h Us In Ilnanclng acllvJtl•• N•t Incr•aM In ¢a8h and cash •quIVOn 873,218 300.347 Cash and cth eqiThdents at nring of 717.227 416.880 Cash and ¢•8h •qulvalMth at •nd of p•rfod 1.590.445 717,227
THE FAMILY HOUDAY ASSOCIATION NOTES TO THE FINANCIAL STATEMEKrs FOR THE PERIOD ENDED 31 DECEMBER 2020 Accountlng poll¢l•• Chartty Infonnatlon The Famity Hdklay Associati is a vate eompary limited ty guarantee iKorpordted In Englond and Wales. The reglslered office is 7-14 Great Dover Stree( LoThJon. SE14Y 1.1 Accountlng conv•ntlon The finanual slatements have been in accordance ith Ihe tgoveming docuThntJ, th• Companles Act 2006, the Charities and Trustee Inveslment (Scotlandl Act 2005, the Charibes A£counts (Scotland) Regulation5 2006 (as arrwded) and "Accounting and Rewbng by Charities.. Statement of Recommended Practrce applcable to charities preparing their acrots in arxordanc¢ wrth the Finanoal Reporting Standwd applicable In the UK and Republic of Ireland (FRS 102) {effectiv8 1 2019)" The charity 15 a Put¢ Berrfrt Entity as dthed by FRS 101 The financial statennts are ryepared in kng. is the functional Guwerry of charity. Nkjnetsry amounts In these ffinon¢io1 StsteM are rounded lo the rarest L The finanrial statements have been prepared under Ihe historical cost convenll¢Jn, rnoded to indude the valuallon of freehold properties and to Indude inveslrnent propwties arxl (xrtain financial instruments at falr value. The principal accounting pcliues adopted are set out below. 12 Golng conmrn Al the time of approvlng finani?al slateM. Iho c(r ha a reasonabl8 eypeclatton that the charity has adequate resour lo rnntinue in werntional ext6tence for the foreseeable future. Thus the Cwnal continue to alLyt Ihe wing bBsis ofaw)iwtsy in wepariTrJ the finanGWt statnent& IA Charltable fund• Unrestricted fund5 are avall)le tr use at the of the C0clI in furtherance of thelr tharilable objectives. Deslgnated funds ctynpri¥e funds which have been set aslde al the discxelion of the Council for speclfic Purposes. The purposes and usps ol the de%gnated funds are set out in the notes to the finanGlal slatements. Restrlcted fvnds are suiyect to spedfic (Thrfrti by donor5 a5 to they may be use(L Tho pu and uses of the restsicted fmds are set out in the notes to the finwclal statemen The endowment fund Is represented ty kxw temi Investhxnf4 the I(The fr(xn whth rny be used for charity's general PLYpose IA Incom• Income ig recognised when thè charity is legalty wrtitled to It after any perforn)Ce condittons havé b••n mec the amounts can be rrSured reliabIy. arKI it ts wobth that inry)nx bè raceivod.
THE FAMILY HOUDAY ASSOCIATION NOTES TO THE FINANCIAL STATEMEKrs (cop¥nNUED) FOR THE PERIOD ENDED 31 DECEMBER 2020 Accountlng pollcl {Contlnugd) Cash donatlons are recogNsed on Other drmatwm are recognlsed onea the charity has been notrfied of the donation. unless perfomiarKe conditkns requlre deferrdl the amounL Irme tax recoverable in relatIL to donaions rerni¥d under GiftAKI or deeds of covenant is recognised at the tirne of the donati¢)n. Glft8 in kind receId knclude th8 wow5ion of free holday4 design. iThtsng and publicty. Due to t1 vari•ty of types and sources af donated advertising, PR seNice4 nsurance and holKlay LvJoking savices, it is not ¢dered possble to value thes& However. the eslinated valu? of nUal report printing and cartan speufic donated holidays and travel arrangements are MKluded in the statsment of fanal acbvibes as Incomtng resowras expended when we distnbutsd. Lega¢¢es arn racognised on receipt c otherwlse ¥ the charity ha5 been notified of an iwpending distrknutlon. the amount is knryAn, and re¢eyt18 expe(W. If 7mDunt ts not kn. the legacy is treated a contingent asEeL 1.5 ExP•nd1I• Lwbilities are recJ)gnt5ed as soon as there is a legal or constructive obligation commlillng the Council to the axpvnditure. All exwditure is 8c%ounted for on an ac¢n basis and has been clAssiThed under the headings thal aggragate all costs related to the ¢atsgiJy. Costs of generntlng fund5 ccryrise of ts costs aswciatid with attsactiry voluntsry income and invesknert magnent fees. Grants payaLq8 arn payments made to thwd pBths in the furthernnce ofthe ch•itabl8 objective& Gov•rnanc• costs Govemance costs include costs of the W8Wdtion aKI examination of the Statutory accounts, tho costs of trustee me8ting$ and the cost of any Ipgal advKe to the mernb•rs on gtymnance or consliluuonal matters. Support costs Support costs includ• c•nlral fuKtv)ns 8nd h8¥e been akcated to activlty cost categ1¢8 on a basls consistent with the use of res(wJrtes for exarrple alloc8tWbg costs ty floor areas or per capila. staff costs by the time spent and other costs by ther us& 1.6 Tanglbl• flx•d aM•t• Tangible fixed assels are initialty meawred at t))st WKI subsequ)ty n85ured * G05t or valualiDn. net af depreciation and any knpatm)ent kMe& Depreciation is recognlsed $0 a5 to write off the cost rr of 8s58ts1•5s thèr rnsKlual vakws ovar their useful lives on the following ba. Carnvans Offte eqUMent 12.5% straight kne 25% strt kn• The gain or loss arising on Ihe disposal of an asset [5 detennwied a5 the dtfference tthRen the sal8 proceeds and the carryir#J v2lL* ofthe asse( and is recwisad in net incom81(expenditire) for the year.
THE FAMILY HOLIDAY ASSOCIATION NOTES TO THE FINANCIAL STATEMEKfs (CollED) FOR THE PERIOD ENDED 310ECEMBER 2020 A¢¢ounilng pollcl (Contlnu•d) 1.7 Fhted aM•t Inv••lm•nts Fixed asset Investrnents are initiaty measured al transaction price exduding tMsactK>n costs, and are ¥ubwuenfy measured at falr value at each reporting date. Changes Ni fair value arB recognised In net incomellexpenthtwe) lor Ihe year. Transactlon costs are expensed as incufred. 1.8 Impalmi•nt of Ilx•d ••Mts At each rwbng end date. the chwity the rxrrying amounts of tts tang assets to deterniine whether there is any indication that those assets have suffered an Thpawrn8nt If ary such iNlicatron exists. the recoverable amaunt of the asset is estimated in order to determin8 tho extent ofthe inyiment 1055 {11 ary). 1J Cash and cash U1val9Trts Cash and cash Ul¥dnts irthe cash in hd. de[$1 held at call wlh bks, other short4wm Itquid inveslments wtih orlglnal maturibes of three months ty I. and ovwdraft& Bank overctafts are shNn withln bOr4ng$ In current liabrtIeS. 1.10 Flnanclal Instrum•nts The charity has elected to ath th• wowsk)ns of Section 11 'Bas Fhandal Inthments, and Section 12 'Other Financial Instruments Issues. ol FRS 102 to al of its financlal inthments. Flnandal Instrmnts arn [sed in the sh88t vthen the thaiity becomes paty b the contractual FYo¥r5ions of the tnsbvmenL Financtal assets and liatrAliti88 we offse( the net amounts presented in the financial 5tatern, then there is a leg81ty enforceat4e right to set off the wnlsed amounts arnl there is an intention to settlè on net basis or to realise the asset and settte the liabibty slmultweousty. asle ffnan¢lalassets Basic fjnancial assets, whlch include debtorn aThJ cash and barth balances. are Initialty measured at transactron prfce Indudiig transaction costs and are sthequenty canied at wnortl8ed cost uslng the effective interest melhod unles5 th8 arrangement ¢orlitutes a financing transacoon. where the transaction is measured at the present value of the fubjrn receipL8 discounted at a market rate of inter66L Financial a85ets ctsss5fied as r&%i¥able within ane year ¥e not amortised. Bask flnandal IlabHItl•g BC finencial liabilittes, IndlIng Nedith and ar• knilialy retxgnised at transaction prke unless the arrangement const*utes a fjnanang transaction, whern Ihe debt instrument is measured at the present value of th8 future payments discounted at a mathel rate of interesL Financial liabiltbes classlfied as payabl? rythin one yr are not amortisoa. Debt instnments are subseryRnty cansed at cosL the dfective krterest rnte metho Trade credlth are obligatrons to pay for 9d$ or sepAces that have been acqutred h the ordlnary o)urse of operations frryn supplier5. Amounts payable are Classifi as current liabli rbes ff payment is due wtthin one year or18ss. If noc they are preserrted as rn<ullent liabilrbes. Tradè ttedrtors are reoyjnised initialty al Iransathn price and subsequenty measured at arnortised cost U5ng the effethe interest method. Derncognldon of ffnanclal Ilabllitles Financlal Ilabilitles are derecognised when dwrWG contrxtual ObgationS explre or we (ffischarged or ancelled.
THE FAMILY HOUDAY ASSOCIATION NOTES TO THE FINANCIAL STATEMEKrs (coKnNUED) FOR THE PERIOD ENDED 31 DECEIIBER 2020 Accountlng pollcl IContlnu•d) 1.11 ProVIOn8 Provisi0r are recogntsed when the (affty has a legal or con5trucU¥e present 0119ation a5 a result of past evenc it is probable that the Charity be reqwed to selde that oblhJaUon and a rnuable estlmate Gan be made of the amount of the obhgalion. The arnount recognised as a provig#M is bast estKnat• of the ¢SideratiOn r•quir•d to Sett th• present obligation at the reporbng end date. tng into attounl the rfsks and uncertaintles surrounding the obligation. V¥hete the effect of the time value of monty is material. the amount expected to be requlred to tue the obligation is recognised at rxesent value. When a provision is measured at present value, the unwindlng of the dixount is recawised as a fffwice cost in net inra)mel(expenditure) in the period in thi¢h it arises. 1.12 Employw b•n•llts Tho u)st of any unused hId entilleM rs recognised in the thich the IpIO,S 5eNiceG Temlnallon benefits are recogn1 nrr as an expense when the charity 15 demonstrably txmmitted to temilnate the empbyment of an eryloyee or to terminal>Jn beneffts. 1.13 R•tlr•rnont benoffts Payments lo defined contrbutlon retlremenl benrfrt arn d)gad as an expanse as they fal due. 1.14 Fund a¢¢ounllng polky unrestric income funds genwal funds that afe 8valle for use al the Cour$ dlscrellon In futherance of the objectives ofthe charity. Further delails of eath fvnd we dl8thsed In rnte 18. Chang• In accountlnq lIcY The Charity has revised its estimate of the usdul econo Ife of caravans - from 10 years to 8 years during the year. This is an the Tnth's assessment that the caravans are usualty sold after 8 year therefore. the depreciation thaTge should reflect tlms. This came into effect on 01 September 2019 and tha change was applied pro4JaCti¥ety. As a resulc a priN WK)d ajustment 15 not requyed. Crftkal a¢¢ountkng ••tknats• and Judg•m•nts In the appiication of the tha11S accounting polioes, the Counctl are rewired to rnake judgement estimates and assumptions &Sout th8 canwng amount of assets and llabimies that are not readily apparent from other sources. The estynates and associated asswrptians are based on historical experience and The estirat•S and undertying assumplions are miewed on an ongoing basi& Revisions to accounting estimates En recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of thg revIsn and future periods where the revision affects both current and future periods. Management do not consKler there to b8 ary matsria Il (x estimation and uOrtalnty r•quiring disclosure.
ThE FAMILY HOLIDAY ASSOCIATION NOTES TO THE FINANCIAL STATEMEKfs (COPrnNUED) FOR THE PERIOD ENDED 31 DECEIIBER 2020 Donatlon• and l•gacl•• fund8 q•n•ral 2020 fund8 fund5 general 2019 2020 2020 Donations &)d glfts 575.579 1.085.437 191,650 767.229 1.41i0,982 1.085,437 500,801 1.661,016 191.650 1,852,866 1P01,783 Investmonts funds g•n•r•l 2020 funds géner 2019 Income from listed investrnanis Interest receivJle 5,791 2.477 1.512 8.%8 4,746 Oth•r Incomo Unv•8trlcl lunds gon•rnl Total 2019 CVJRS grants recei¥Je 73,629
THE FAMILY HOUDAY ASSOCIATION NOTES TO THE FINANCIAL STATEMEKfs {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2020 Rahlng fvnd8 Unr••trlct•d Unrestrlctèd fund• funds g•n•ral ganeral 2020 2019 staging fundratsing events Staff costs Support o)sts 91.914 218,958 252.114 84,287 219,016 Costs of generatyig vokmtsry in(xffio 562.986 303.303 562,986 303,303 Ch•rft•bl• acdvld Dk•¢t Dlr•ct act1v1t1 actlvltl•8 2020 2019 staff casts Depreclallon and ryairment 216.503 75,223 241960 291.r26 242.960 Grnnt funding of actrth (see note 9) 149,919 643,445 Share of Pport cost5 (see nt* 10 Share of govwnance costs (see note 10) 174.115 23.438 294,587 13.772 639,198 1.194.764 An•ty818 by fund Unrestrrcted funds- gen•r81 Restricted funds 550,289 1,194,764 88.gX19 639.198 1,194,764
THE FAMILY HOUDAY ASSOCIATION
TES TO THE FINANCIAL STATEMENTS {COPrnNUED) FOR THE PERIOD ENDED 31 DECEMBER 2020 Grants payabl• Dlrect Dlrect actlvltlos actrrflties 2020 2019 Grants ta instituiior Grants to kndlwdu81$ 149,919 643,445 149,919 643,445 10 Support eO8ts Support Governance 2020 SuFVOrt Goveman 2019 218.360 111T13 218.360 113,773 79.530 86.347 5.428 79,530 88,347 5,428 E5tsbli5hment costs Printing, and stationary Subxripttons orKI donations Sundry and other costs Travel and subsistence Bank charges Depreclation (PfofityLoss an salo of fixed assets 4,700 4,700 2,195 68,496 2.195 68.496 1,e03 36.371 1,422 4,270 61504 1,803 36.371 1.422 4,270 65,504 5.054 25209 25.209 (10.411) (10.411) 9212 9,212 Legal and prrrtesthnal 14.438 14.438 5.372 8.41)0 5.372 8,400 Audltors rwnuneration 426,229 23.438 449,667 294,587 13,772 308,359 Anatysed betwe Fundraising Charitable acUv6ttes 252.114 174,115 252,114 23.438 197.553 29487 13,7T2 308,359 426229 23.438 449.667 294.587 13.772 308,359 The allocatlon of sUPPOrt costs to Furthlsing is unus• IW kn the perd wen Ihe restsktlon8 Imposed on our tharltsble acbwty thJring the Cowd pandemi GoveTrBnce costs ind185 payments to the wditors c1£8,40012019: £8,41XI) for autht fees.
THE FAMILY HOUDAY ASSOCIATION NOTES TO THE FINANCIAL STATEMEpifs {COlrnNUED) FOR THE PERIOD ENDED 31 DECEMBER 2020 11 Councll None ofthe Councl (or any pw50ns connected with them) recer any rernUnen thJrinq the period. 12 Employ Th• average monthty numberof emKdoyees the Perh wa 2020 Numbor 2019 Numb•r Experfence and Impact Income and Engagement Swrt Total 12 13 Empknyment cost• 2020 2019 nkges and 8al8rfes security msts Other pension costs 585,868 45,193 22,760 471,833 37,799 31,874 653.821 541,506 The number of emFtyes nUal remuneralw)n was £60,OLXI or more ware: 2020 Numbor 2019 Numb•r £80.000- £70.000 13 N•t gaInlI() on Inv••tm• Endowm•nt End¢y4vmt funds fvnds 21Y20 2019 Revaluation of Investsnents 243 4.345
THE FAMILY HOUDAY ASSOCIATION NOTES TO THE FINANCIAL STATEMEpirs (coKriNUED FOR THE PERIOD ENDED 31 DECEMBER 2020 14 Tanglbh flx•d a8••t• Offic• •wlpm•nt Co•t At 1 September 2019 Additiorr& Disposals 456,989 33.663 (41.198) N.782) 156,986 613.955 33.663 {105.980) At 31 December 2020 449.454 92,184 541,638 D•pr•clatlon and Impalmi•nt At 1 Septeff*er 2019 Depreciation charged in the perfod Eliminated in respect ol disposals 205,302 107,117 75.223 25,209 (37.078) (64,782) 312,419 100.432 <101,860) At 31 December 2020 243.447 310,991 Carrylng amount At 31 Deceffajer 2020 206,007 24.640 230,647 At31 August2019 251,687 49,850 301.537 Office eqUrnent inchjdes IokIng system Lrf£81.000 at cosL 15 Flxed 08•et Invo8tm•nts Unll¥t•d Inv••kn•nts Cost orvaluallon At 1 Septertier 2019 Valuation chang85 127.515 At 311)ecemb8r2020 130,481 Carylng amount At 31 Oecember 2020 130,481 At 31 August 2019 127,515
THE FAMILY HOUDAY ASSOCIATION NOTES TO THE FINANCIAL STATEMEpifs (CONTINUEI) FOR THE PERIOD ENDED 31 DECEIABER 2020 16 D•btor6 2020 2019 Amounts fallno du• lthln one year. Other debta Prepayments arKI accwed Incomè 8,750 124,793 3,029 125,000 133,543 128.IY29 17 Cr•dltov8: amounts falung due wlthln one yev 20 2019 othertaxauon aNI sacial seuxity Trade Creditors Other creditors Accruals defeffed inrxjme 5.942 66.739 738 20,644 9.661 15,402 915 94,063 34,378 18 Provlslons for Ilabllltle• 2020 2019 Provision for thpidalio 18,500 Mt)ments (Jn provis Provhlon for dllapklallons Additsonal prDVIanS in the year 18,5LXI 19 R•tlr•m•nt b•n•fit •ch•m•s Dofin•d contrlbutlon sthem Tho charity (Jperates a defined c0n1nUti0n pension sch8me for all qL•lng empYeeS. Thè assets of the stheme are held separately fram those of the chartty in an h-dependenty administered fiJnd. The charge to profft or loss in r•spect of deftt s(rn wag £30,930 {2019: £31.8741
THE FAMILY HOUDAY ASSOCIATION NOTES TO THE FINANCIAL STATEME15 (coi¥nNUED) FOR THE PERIOD ENDED 31 DECEMBER 2020 20 D•sIgnat fund• The income fuNJ$ of Ihe djarity indude the followirs dew fvnd5 which hm been set aside out of unrestrvaed fund¥ by the tsust¢es for specific purposes: ov•m•nt kn fund¥ 31 D•mb•r 21)ZO X119 FA$Sets Fund Digital Investment Fund 230.647 250,000 230,647 250.000 480,647 480,647 Flxed Asset Fund whlch equs trj the arrwjunt at the top of the Balance Sheet as the earying value of caravans and office equiFYnent This matching of Designated Funds to the fixed assets means that the amount in unrestricted fur#Js more accurately. This matching of D85ignated Funds to the fved assets means that the amount in unrestricied funds xcuralety wsents that is ayallable to spend. Dlultal Investmerrt Fund eamiarked for th8 tArrk to imwova charitys dlgltal ec system and enable the delivery of th8riVs strategr awrn.
THE FAMILY HOLIDAY ASSOCIATION NOTES TO THE FINANCIAL STATEppif8 (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2020 22 OperntlTtg l•as• commlthi•nts At the reporttng end date the thaity had txrtstthw (xThmilnwnt8 for firtur8 minimum lease paym?nts urKler nOn4ancellab (wating leases. whkh fal thè as f. 2020 2019 Wthin on• y•ar BefvRen two and fve year6 21,667 61000 65.NJO 21,667 130.000 23 R•lat•d party tran•acdon8 Th•re were rK disdosable rekited paty transaclirms thmiig Ihe perKxI (2019. nonel 24 Contlngants aM•t• The charity has received part pa>Thent frorn a larye legy lyjt the estate management wa• halted to the death of the executor. There is now signifKant uncertalnty around the current Yalue of the estate assets (IndudSng commercial aThl a non4JK based inveslment porttdio) or when they will be reallsed. As the legxy cannot be reliabty moasured oulslanding amount is not yet being recognlsed In the accounts. 25 Cash g•n•ratsd from oporatlons 2020 2019 Surplus for the parfcrfl 731622 412,807 Adjustments for. Invesknent income recognised in ¥tatement of fffianc4 adiths {Gain)Aoss on dlsposal of tsngtiile fixed assets Falr value gains arKt losses on investrmnts OeFnuatx>n and impairment aftaTrJible f1 assets {8.268} (10.411) {243) 1,432 (4,746) 9,212 {4.3451 65.504 Movements wi worklng capi (Increa) in debtors Increasel(decre8se) in creditus {Deuease) in pThisions 18,2351 59,685 18,500 (124,366) (38,841) Cash g•n•rat•d from 01110n* 884.oe2 315.225 26 Anaiy818 of ¢hang•8 In n•tfund8 The charfty had no debt Grng the yew.