The trustees presents its annual report and financial statements for the period ended 20 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The mission of Home from Home for the Elderly was to create a residential home for the elderly of Havering, where all residents would be treated with dignity, love and compassion and all staff would be treated in the same way. The envisaged home would be operated on a not-for-profit basis and would be open to all faiths and none.
The principal object of the charity is to provide for the relief of the elderly in need by reasons of age, disability or financial hardship who live in the London Borough of Havering by the provision of comprehensive support services including but not limited to support in the home, in the community and other forms of support and advice.
The trustees has paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
A Home from Home Board of Trustees meeting was held on Thursday 20th October 2022, where the Trustees discussed the following.
As the charity has progressed, the need to expand the vision had become clear, and it had been agreed at the point of writing the charity’s first business plan, that the charity should look to provide wrap around care for the elderly, starting with a befriending service, moving forwards to group socialising activities, then providing at home care services as well as maintaining the eventual goal of establishing a care home.
As time has gone on, the trustees have sought to implement an at home care service, following the principles of dignity, care and compassion, and on a not-for-profit basis – indeed subsidised where possible. Upon the receipt of a bequest from Jean Horan the Trustees had hoped to set the wheels in motion to provide this at home care service, but plans were interrupted by the Covid pandemic.
On reflection, it became clear that whilst the legacy received was substantial (in excess of £200k), the charity lacked the internal human resources infrastructure to operate such a scheme, even if agency workers were used – there simply was not the management capacity in place.
The Chair and Company Secretary spent time investigating possibilities to amalgamate with another charity.
At the meeting, the Trustees agreed that Home from Home would merge with another existing Charity – TuVida. TuVida has been operating in the local area of Havering and surrounding London boroughs and Essex for over thirty years providing at home care services and respite care for unpaid family carers. Initial conversations to explore a merger had progressed well so the Chair and Company Secretary were confident in recommending this merger to the Board of trustees.
The group social club currently run by Home from Home for the Elderly, known as the "Pass it on!" club, will continue to run but on an independent basis by Joanne Challis.
Once the merger is completed, Home from Home for the Elderly will cease to exist as a registered charity and a company limited by guarantee. TuVida has offered legal and administrative support in bringing this about.
The merger process began with changing the objects of the charity with the Charity Commission and transferring the assets of the charity to TuVida. The asset transfer took place on 19th March 2024. TuVida in partnership with the Trustees of Home from Home will process the closure of the organisation at Companies House and Charity Commission and then formally register the merger.
The ’Pass it on’ social club continued to operate successfully providing a range of activities for participants including singing sessions, board games, coffee and chat sessions. The benefits for both older and younger generations coming together were expressed on a regular basis by participants.
Since the Board Meeting in October 2022, there has been little financial activity, except for some payments from the bank account, and 4 regular donations.
Principal funding is from four regular donors who make donations monthly plus the previous legacy the organisation has not been able to spend.
On 16 March 2024, the charity activities and assets of Home From Home For The Elderly were transferred to East Midlands Crossroads - Caring for Carers (Company Registration Number 03128681 and Charity Registration Number 1051649).
With very little costs for the organisation, and the decision to merge with another charity, the organisation has not established a formal reserves policy taking into account guidance from the charity commission and companies house.
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate our exposure to the major risks.
The charity is a company limited by guarantee and was incorporated on 14 October 2011. The charity received its charitable status on 25 March 2012 and its registered charity number is 1146487.
The members of the trustees, who are also the directors for the purpose of company law, and who served during the period and up to the date of signature of the financial statements were:
The management of the charity is the responsibility of the Trustees. The founding Trustees were appointed on incorporation and charitable registration of the charity. Further to this, persons expressing an interest in becoming a trustee are invited to attend a meeting of the Board of Trustees to explain their interest in the charity and the skills and experience they have to offer. At the end of the meeting the potential Trustees are invited to leave, so that their suitability can be discussed and voted on. If deemed necessary references may be requested and further discussions may be held.
The Trustees are responsible for the day to day running of the charity.
Newly appointed trustees are asked to complete a fit and proper declaration, read the charity's procedures manual and strategic plan, and read the Charity Commission guidance on being a trustee. There is also an oral induction dealing with the philosophy, history and objectives of the charity.
Ongoing trustee development takes place at each meeting of the Board of Trustees.
The trustees' report was approved by the Trustees.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Home From Home For The Elderly for the period ended 20 March 2024, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 20 December 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Home From Home For The Elderly and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Home From Home For The Elderly and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that Home From Home For The Elderly has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Home From Home For The Elderly. You consider that Home From Home For The Elderly is exempt from the statutory audit requirement for the period, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of Home From Home For The Elderly. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
Home From Home For The Elderly is a company limited by guarantee. The members of the company are the Trustees named on the legal and administrative information page. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
Home From Home For The Elderly is a private company limited by guarantee incorporated in England and Wales. The registered office is 4 Havering Road, Romford, Essex, RM1 4QU.
These financial statements reflect the period 1 November 2022 to 20 March 2024. The comparative figures shown represent a twelve month period and are therefore not entirely comparable with the current period.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below.
On 16 March 2024, the charity activities and assets of Home From Home For The Elderly were transferred to East Midlands Crossroads - Caring for Carers (Company Registration Number 03128681 and Charity Registration Number 1051649).
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.
Investment income, gains and losses are allocated to the appropriate fund.
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Interest on funds on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discount due.
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.
In the application of the charity’s accounting policies, the trustees is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of employees during the period was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
On 16 March 2024, the charity activities and assets of Home From Home For The Elderly were transferred to East Midlands Crossroads - Caring for Carers (Company Registration Number 03128681 and Charity Registration Number 1051649).
There were no disclosable related party transactions during the period (2022 - none).