Hosting is the physical location where your website lives. Your site sits on a Server which holds the information about the website and is plugged into the internet to allow users to visit your site
There are different types of hosting, but the most common is shared hosting where several sites are on the same server. If you want to have increased speed and security you can opt for dedicated hosting but these are generally a lot more expensive.
Our hosting is charged on an annual basis which covers the hosting of the site as well as e-mail accounts and bandwidth (the amount of traffic allowed) to the site.
As standard you receive 200Mb space and 10 email accounts.