The trustees, who are also the directors of Torbay Holiday Helpers Network (THHN) for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the THHN and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the THHN will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the THHN and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the THHN and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees present their annual report and financial statements for the year ended 31 July 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 THHN'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 charitable objective is to provide free holidays to families resident in the UK who have seriously ill children (life limiting/threatening); who are bereaved - having lost a child or parent (including bereaved couples) and to families who have a terminally ill parent.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the THHN should undertake.
Holidays
The holidays THHN offer are never going to cure any illnesses or change diagnosis, but what we do offer is a positive distraction for families who are all living nightmares and giving them a chance of some quality family time to make special memories to treasure forever.
THHN provided 28 families with holidays over the past 12 months which is a wonderful achievement considering that our referring agencies are still not back having the same contact with families as they did pre covid. We are still finding that the number of referrals remains lower than before covid and due to health concerns, we had 5 arranged holidays cancelled in the weeks and days leading to the planned holiday.
This brings the total number of families provided with a THHN memory making holiday to 922.
We would like to thank all THHN’s supporters and volunteers who make these free memory making holidays possible.
Referrals
We continue to receive referrals from all over the UK from our list of over 50 organisations, which consists of registered charities, hospices, NHS medical and health care professionals.
Beach Hut
We are still able to offer our families the use of a traditional beach hut at Preston Sands and this is very popular especially with families with young children. Our thanks go to our volunteer Caroline who maintains the beach hut and makes sure it is well equipped with fun beach activity items.
Donations
We are a community of people and value all, for whatever they can give the charity. Donations are always very much appreciated and enable the charity to maintain the two Lodges at Devon Hills Holiday park.
Over the year we have continued to receive some support from local businesses and attractions.
Linus Project
Rockfish Seafood Restaurant
Angels and Mavericks Choir
St Marychurch and Babbacombe Conservative Club
Volunteers
We are so incredibly grateful to each volunteer who has offered up their free time to support the charity.
The charities Steering Group (all volunteers) have continued to meet regularly and thanks to their dedication and hard work have continued to ensure the charity remains stable and still able to offer free holidays to families.
Business Supporters
We once again have had some fantastic support from local attractions, providing free entry to all families on a THHN holiday, this is so enjoyed and appreciated by all the families.
Pennywell Farm
Kents Cavern
Babbacombe Model Village
Woodlands Theme Park
Dartmouth Steam Railway
Bygones
Babbacombe Theatre
Babbacombe Cliff Railway
Vue Cinema
Waves swimming Pool
Pirate Golf
Dartmoor Otters and Buckfast Butterflies
The support we receive from our local businesses, hospitality and tourist attractions, traditionally are a major cog in providing fun filled family holidays and we look forward to receiving their support in the coming years.
The Charity's funds although healthy are on the decline as fundraising is so much harder in times of financial hardship. We have offered the THHN Family Grant Scheme to some families during this period due to specific needs of families and these were authorised by the Charity's Steering Group.
Fundraising
This year the City to Sea Marathon was organised in conjunction with a commercial partner, ‘Winding Paths’. They organised the event providing THHN with free places to the event and also providing THHN with a percentage of each entry sale.
Unfortunately, due to the change of date of the Torbay Half Marathon to September, we were unable to organise the Schools challenge half marathon event and the event Fun Run.
Our main goal, and focus, is to continue to provide families who fit our criteria with free action packed, and fun filled holidays, here on the English Rivera. To continue to highlight the work of the charity so that families who are affected by serious illness or bereavement can benefit from one of our free holidays.
The THHN is a company limited by guarantee (incorporated 1 July 2011) and does not have a share capital. The constitution allows the non-use of "Limited" in the name. In the event of the charitable company being wound up members are required to contribute an amount not exceeding £10.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Torbay Holiday Helpers Network (THHN) (the THHN) for the year ended 31 July 2024.
Having satisfied myself that the financial statements of the THHN are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the THHN’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the THHN as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Torbay Holiday Helpers Network (THHN) is a private company limited by guarantee incorporated in England and Wales. The registered office is 7 St Paul's Road, Newton Abbot, Devon, TQ12 2HP.
The financial statements have been prepared in accordance with the THHN'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 THHN is a Public Benefit Entity as defined by FRS 102.
The THHN 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 THHN. 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.
These financial statements are prepared on the going concern basis.
In December 2024 the Trustees decided to make the decision that the Charity would begin the process of closing the Charity. Further details can be seen at the Charity's web site www.thhn.co.uk which explains how the assets of THHN will be eventually dealt with.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the THHN has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
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.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the THHN reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The THHN 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 THHN's balance sheet when the THHN 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.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the THHN’s contractual obligations expire or are discharged or cancelled.
None of the trustees (or any persons connected with them) received any remuneration or benefits from the THHN during the year.
There were three Trustees in the year but no employees
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.
In March 2025 the Lodge at 14 South Hams was sold for £24,335 and this will be reflected in the 2025 accounts.
As stated elsewhere in these Financial Statements the Charity in the process of closing and transferring its assets to an Exeter based Charity called Dream-A-Way, and further details can be seen on THHN's website.
There were no disclosable related party transactions during the year (2023 - none).