Doojsign Erwelope ID.. EEC28031-IOA542E6-9fjE9-B31658609D37 hc.Kofi Bolton Community and Voluntary Services Annual report and financial statements Year ended 31 March 2024 Company number: 2615057 Charity number: 1003123 Docusign Envelope ID.. EEC28031_1 0A￿2E6.9I Eg.B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEEs/DIRECTORS YEAR ENDED 31 MARCH 2024 CONTENTS Legal and Administrative Details Report of the trustees (directors) 2-12 Independent Auditor's Report 13-15 Statement of Financial Activities 16 Balance Sheet 17 Statement of Cash Flows 18 Notes to the Financial Statements 19-32 Docusign Envelope ID., EEC28031-10A542E6-91 E9-B31658B09D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIREcfoRS YEAR ENDED 31 MARCH 2024 Legal and administrative detail TrusteeslDirectors Mrs S Hilton Mr D Holden-Locke (appointed 12110123) Mr D A Kay (Treasurer) MsGEKay Mr B Lyon Mrs J Maher (Vice Chair) Ms S Z Makkan (appointed 12110123) Rev P Mason (Chair) Ms F Noden Mr V Patel Mr M Smith Bolton Council Nominated Representatlve to the Board of Trustees Councillor R Jiva (appointed 12110123) Company Secretary and Chief Off icer Ms D Yates-obé Registered Office The Bolton Hub Bold Street Bolton BL1 1LS Auditor Smith & Goulding 24 Southport Road Chorley PR7 1LD Bankers Royal Bank of Scotland plc 4648 Deansgate Bolton BL1 1BH Docuslgn Envelope ID.. EEC28031-10A542E6-91 E9-B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIRECTORS YEAR ENDED 31 MARCH 2024 The trustees present their annual report and the audited financial statements of the charty for the year ended 31 March 2023. Governing document Bolton Community and Voluntary Services (the organisation) is a charitable company limited by guarantee, incorporated on 24 May 1991 and registered as a charity on 7 June 1991. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The Articles of Association were updated by Special Resolution on 23 September 2021. In the event of the company being wound up, members are required to contribute an amount not ex￿edIng £1 . Charitable objects Bolton Community and Voluntary Services (CVS) is a charitable company which exists to support voluntary and community organisations and Promote voluntary action. The objects as stated in our Articles of Association are.. To proinote any charitable pU￿OseS for the benefit of the public, principally but not exclusively in the Metropolitan Borough of Bolton (hereinafter called the 'area of benefit ) and, in particular, but not exclusively, to build the capacity of voluntary and community sector organisations and prDvide them with the necessary support, information 817d seNices to enable them to pursue or contribule to any charitable p￿￿Ose,. provided that in pursuing the Objects, the Charity shall pay due regard to the needs of minonty or disadvantaged groups including ethnic minorities, and the promotion of community cohesion,. To pmmote, organise and facilitate co-operation and partnership working between voluntary and community sector, statutory and other relevant bodies in the achievement of the above pU￿OseS within the area of benefit. Public benefit Each year ourtrustees review our priorities and activities to ensure they continue to reflect our aims. In carrying out this review, the trustees have considered the Charity Commission's general guidance on public benefit and are firmly of the belief that the organisation continues to meet the public benefit requirement through its activities. Membership Bolton CVS is a membership organisation, with 632 members at 31 March 2024 activety delivering programmes and activities in Bolton. Our membership is crucial to our work and is open to all VCSE sector organisations operating across the Borough of Bolton that fall within our criteria. The voice of the VCSE sector in Bolton is amplified. heard and has influence through the critical mass and mixture of expert providers of all sizes that includes community networks, community champions, campaigners. social movements. organisations, social entrepreneurs. groups, charities and other organisations that exist with the primary purpose of doing good and building stronger communities. Docjjsign Envelope ID.. EEC28031-10A542E6-91 E9-B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIREcfoRS YEAR ENDED 31 MARCH 2024 Core Purpose To work alongside Bolton's Voluntary, Community and Social Enterprise sector, supporting them to do what they exist to do, as well as they possibly can. The values that underpin our work are: We are collaborators We mutually build lasting relationships and share knowledge to achieve the greatest impact in our communities. We are evolving We proactively seek opportunities to learn, develop new ideas and adapt so that we, and those we support, respond to change in relevant and sustainable ways. We are here We are committed to providing timety support to encourage, motivate and guide organisations in further developing the skills and Confiden￿ to do what they do best. We are influencers We positively contribute to decisions, boldly advocating that the VCSE sector is heard and valued as an equal partner. We are progressive Collectively, we look to the future and explore new ways of doing things, with inclusivity and equity at the core. We present our Annual Trustees Report and Accounts to the membership every year at our Annual General Meeting for adoption, as well as updating on our progress, performance and collective achievements. All organisational activity is aligned to the charitable objects as stated on the previous page. Docusign Envelope ID.. EEc28o31-10A￿2E6-9l Eg-831658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIRECTORS YEAR ENDED 31 MARCH 2024 Our People At 31 St March 2024, Bolton CVS had 31 members of staff. The Senior Leadership Team is made up of the: Chief Executive; Deputy Chief Executive and Head of Finance. Bolton CVS has an active team of volunteers, supporting our work acTOSS a number of programmes includes grants delivery. There are 11 Trustees who donate their time to provide strategic leadership for the organisation and assess financial and operational performance. There is 1 'nominated representative,, a Councillor appointed by the Leader of Bolton Council at the beginning of each municipal calendar temi. Accountability & Governance Structure The following diagram summarises our accountability and governance structure, outlining strategic and operational accountability and meetings: Strutsgic Annual General Meeting (AGM) Board of Trustees Meeting Human Resources and Finance sub-committée Senior Leadership Team Operational Leadership T¢am Full Staff Team Meeting Docusign Envelope ID.. EEc28031-IoA￿2Efj-9l EbLB31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIRECTORS YEAR ENDED 31 MARCH 2024 The ethos at Bolton CVS is building one team through our'one Bolton CVS, commitment. To enable the effective delivery of services across the organisation, the whole team is organised into five core teams (as indicated below) for line management, coaching responsibilities and perf0rrnan￿ reporting. The diagram below outlines the teams, structure and decision-making structure for the organisation: Tnrtt•os VeAu•8 and FaclUtl•s T•am VCSE Cupaclty 8ulkllng Fundlng - }' W•llbehig and and Impact Bolton CVS Volunt•• Recruitment and appointment of trustees Member organisations of Bolton CVS can nominate representatives to the Bolton CVS Board of Trustees and the opportunity to recruit Trustees begins ahead of the Annual General Meeting. If there are more candidates than vacancies on the Board, an election is held at the Annual General Meeting. Bolton Council nominates one of its elected members (councillors) to serve as a representative on its behalf. To ensure that the Board of Trustees is representative of the fvll range of voluntary and community organisations in the Borough and bring the necessary skills to the Board to achieve our objectives, the Board of Trustees has the right to co-opt up to four representatives for a one-year term. Docusign Envelope ID.. EEC28031-10A&42E6-91 E￿281658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIREcfoRS YEAR ENDED 31 MARCH 2024 Trustee terms, induction and board development Terms: The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Board of Trustees. Under the requirements of the Memorandum and Articles of Association, one thiTd of the members of the Board of Trustees shall retire annually and remain eligible for re*lection. The Honorary Treasurer is nominated by the Board of Trustees and appointed by the members of Bolton CVS as an ex officio member of the Board of Trustees. All trustees give of their time freely and no trustee remuneration was paid in the year. Trustees are required to disclose all relevant interests and register them with the Company Secretary and, in accordance with the Bolton CVS policy. withdraw from decisions where a conflict of interest may arise. The current trustees are listed on page 1. In addition, Mr I Ismail, Mrs V L Ramsden and Councillor A Taylor-Burke resigned 12110123 and Mr V C Patel resigned on 07108124. Induction: All new trustees that are appointed are invited to either a group or one-to-one induction session which provides an ovep4iew of the work of Bolton CVS and its projects, with an opportunity to meet the staff team. In addition to induction, new trustees are given a pack containing" The main documents which set out the operational framework for the charity including the Memorandum and Articles of Association - Charty Commission publications (e.g. Roles and Responsibilities of Trustees). A copy of the latest annual report and accounts. A copy of the organisational budget and future projections. Details of current and future plans and Operational Activity Plan. Board development Trustees are also invited to take part in training and development sessions throughout the year. There are regular strategic planning sessions. and all Trustees are invited to attend training through Bolton CVS'S Stronger Together training programme that will support their personal and professional development. Risk management The charity regularly conducts reviews of the current and emerging Tisks to which it is exposed. A cycle of financial projections, scenario modelling and Servi￿ reviews supports our organisational approach to risk, which also includes regular structural and safety reviews for our building offer. comprehensive risk register is maintained and a summary of significant Tisks is reviewed at each meeting of the Board of Trustees to escalate and to seek strategic input into developing the organisations systems or procedures in order to mitigate the iisks the charity fa￿s. Docusign Envelope ID.. EEC28031-10A542E6-91E9-B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIRECTORS YEAR ENDED 31 MARCH 2024 A financial plan has been developed to mitigate the loss of external funding for some of the charity's activities and this plan is reviewed regularly. along with future financial forecasts. Internal control risks are minimised by the implementation of procedures laid down in the financial controls policy. Procedures are in place to ensure compliance with health and safety regulations within the premises occupied by the charity (The Bolton Hub) and where staff work remotely. All risk piocesses and prO￿dureS are annually reviewed to ensure they continue to meet the needs of the charity. Key Areas of Work The work and activity of Bolton CVS is distributed across five operational teams with the following areas of focus: Team: Venue and Facilities Responsible for: 4 Ensuring the smooth day-to-day (and evening) running of the venue and facilities offer. + Maintaining a clean, safe and ac￿Ssible place for the whole Bolton CVS team, tenants and visitors. * Day to day cleaning and maintenance repairs, within and around the building. 4 Increasing aC￿sS and use of The Hub by community focussed organisations. + Ensuring the smooth running of all l.T. and communication stems and bein the oint for escalation. + Processing all income and expenditure transactions for Bolton CVS * Processing payroll and pension for Bolton CVS. + Producing quarterty management accounts, fsnance reports and yearend finan￿ reports. 4 Ensuring the smooth and effective delivery of all grants and community investment programmes. + Reporting on the reach and impact of community investment and grants programmes + Supporting the delivery of our funded engagement programmes. Strengthening the relationships with health and care partners in the public sector. + Delivering a strategic Wellbeing and Health development programme. Responding to consultations and policy development and building the VCSE sector evidence base. Ensuring strong connectivity with the VCSE sector across all wellbein and health ro rammes. Finance Funding Strategic Wellbeing and Health Docusign Envelope ID.. EEC28031-1 OA542E&91E9-B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEESIDIRECTORS YEAR ENDED 31 MARCH 2024 VCSE Capacity Building Delivering Bolton's VCSE Local Infrastructure Support offer, wilh a focus on impact and social value. 4 Effective start-to-end support for volunteers and volunteer involving organisations. * Increasing awareness of safeguarding and governan across VCSE sector organisations. * Delivering the Bolton CVS events calendar and increasing our engagement in communities. Ensuring consistency and clarity across all Bolton CVS communication out uts internal and external 4 Promoting and profiling the work and impact of Bolton CVS, its members and wider VCSE sector + Delivering training and support to help the VCSE effectively demonstrate their impact and promote their services Leading on digital engagement, ensuring Bolton CVS has strong and positive presence online as well as coordinating purposeful in person events + Ensuring Bolton CVS internal and external stakeholder communications, written, visual or otherwise, remain relevant and brin added value to our wider offer. Communications and Impact Key achievements in the year Around £1,969,307 in grants and investments approved in the period to a multitude of groups and organisations. The 6 priorities of Bolton's Fund are driven by Bolton's Vision 2030. The priority areas of focus are informed through Bolton's Joint strategic Needs Assessment (JSNA), co-design with communities and community intelligence: Children getting the best start in life. Promoting healthy lifestyles and preventing ill health. Empowering everyone in Bolton to reach their potential and take control of their lives. Fair employment and good work for all. Protecting and improving our environment to ensure a healthy standard of living for all. Stronger, cohesive, more confident communities, in which people feel safe, welcome and connected. Docusign Envelope ID.. EEC28031-10A542E&91 E9.B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIRECTORS YEAR ENDED 31 MARCH 2024 In 2023124 our headline numbers include: 93 eBulletins delivered to 2,589 people across the sector (weekly, TGI Friday, Funding, Proper Good and Stronger Together training PTogramme). 252.343 Website hits 52 training sessions with 448 participants. 438 volunteering enquiries managed, 310 individuals received ono to one support, 186 direct connections made to volunteering opportunities 233 people were signposted to the Volunteer Pa5SPOrt training with 58 people completed this training as part of their volunteer journey 293 VCSE groups and organisations supported in a development capacity For more detailed information about our work throughout 2023124 and case studies that bring some of that work to life, please see our Annual Report available on our website. Financial review Our total funds at 31 March 2024 stand at £3,544,976 of which £449,040 is unrestricted funds and £3,095,936 is restricted. £646,402 of the restricted funds relates to the book value of The Bolton Hub building. Reserves policy The Board of Trustees has examined the charity's need for reserves in light of the main risks to the organisation. The charty needs reserves to protect its current activities, in order to allow the trustees to meet their day-to-day responsibilities and to ensure that it continues to operate on a going concern basis. The trustees consider the minimum level of free reserves needed to achieve this is three to six months, running costs, including salaries. The level of free reserves at the balance sheet date is as shown below. It brings us close to achieving our base target level. Unrestricted funds at 31 March 2024 £449,040 Less.. book value of fixed assets representing unrestricted funds. £58,677 Less.. designated for the developmenumaintenance of the Bolton Hub and for service development £30.000 Free reserves at 31 March 2024 £360.363 Investment policy A significant proportion of the charity's funds are to be spent in the short term and a prudent amount has been kept available to maintain a healthy cash flow. We have specific investments held under the Big Bolton Fund which are invested in line with our organisational policy and with approval from the Board of Trustees. Our investments are deemed to be low risk. Docusign Envelope ID.. EEC28031-IOA542E6-91 E9-B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIRECTORS YEAR ENDED 31 MARCH 2024 Principle funding sources Principle funders include Bolton Council. Greater Manchester Combined Authorit, 10GM, Bolton at Home, UK Lottery (via Bolton Carers Support) and GMCVO. These organisations either directly funded or work or provided investment for Bolton CVS to distribute as grants and community ivestments during the year. We also generated income from the The Bolton Hub rents and the delivery of services. Income Analysis by Funder I Source Total Income 2023-2024- £3,509,715 Greater Manchester MH NHS £30,000 Bolton Wanderers in the Community £28,000 Bolton GP Federation £30,655 Bolton Community H £28.8 es Royal Bolton Hospital £22,981 Bolton & South Lancs. CRP £37,129 GMCVO £91,086 Bolton c&&s Support_ U £106.167 Other Income (Less than £20.0001 £36,463 ome £115,689 IOGM £136,287 4% Bolton CVS Generate £230,291 Boltor* Coundl £1,537,591 44% Greater Manchester Co £1,078,576 31% Authorlty 10 Docusign Envelope ID= EEC28031-10A542E6-91 E9-831658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIRECTORS YEAR ENDED 31 MARCH 2024 Plans for 2024125 Bolton CVS will continue to strive for excellence in delivering infraslructure support to Bolton's VCSE sector. Areas of further development in 2024125 include.. Contribute to the ongoing co-design of the Bolton VCSE 5 year Strategy. Co-design Bolton CVS 3 year Strategy Review and impiove VCSE sector training programme offer Development of membership offer Further develop and embed customer relations management (CRM) system and website,. adding social enterprise focused and member only pages. Co-design terms of Teference for each of our Voice & Influence spa￿s, creating further focus and clarity around the unique purpose of each network, forum and collaboration space. Review gaps in provision and introduce new spaces as needed by the VCSE sector. Create a new Equity, Diversity, Inclusion and Belonging strategy and evolve our practises to ensure we Provide increasingly accessible and purposeful services, spaces and support. 'Big Ticket, events in 2024125 will include: Q1- Volunteers Week Q2 - An Evening with Bolton CVS Q3 - Bolton CVS AGM and Bolton's Fund 5 Year Celebrations statement of Trustees, Responsibilities The trustees who held office during the year are set out on page 1. The trustees (who are also directors for the purposes of company law) are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting practi￿). Company law requires the trustees to prepare financial statements for each financial year which give a true and tsir view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. 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 judgments 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. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. Docusi9n Envelope ID.. EEC28031-10A542E6-91E9-B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES REPORT OF THE TRUSTEES/DIRECTORS YEAR ENDED 31 MARCH 2024 The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. The tiustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions. Statement of disclosure to auditors So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware. Additionally, the directors have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to estsblish that the charity's auditors are aware of that information. Appointment of auditor A resolution for the reappointment of Smith & Goulding as auditor for the financial year ending 31 March 2025 will be proposed at the forthcoming Annual General Meeting. Approval of report In preparing this report advantage has been taken of the small companies, exemption. This report was approved by the board and signed on its behalf by: DocuS*Jned by,. 6B9CZ4327EF8417 22 October 2024 Rev P Mason Chair October 2024 12 Docusign Envelope ID.. EEC28031-1 OA542E&91Eg-B31658609D37 INDEPENDENT AUDITOR5, REPORT TO THE MEMBERS OF BOLTON COMMUNifi AND VOLUNTARY SERVICES YEAR ENDED 31 MARCH 2024 Oplnion We have audited the financial statements of Bolton Community and Voluntary Services for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice)- In our opinion the financial 5tatements'. give a true and fair view of the state of the charitable companYs affairs as at 31 March 2024 and of its incoming resources and application of resources for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in ￿CordanCe wrth the requirements of Companies Act 2006. Basis of opinion We conducted our audit in accordance with International Standards on Audrf(ing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevantto our audit ofthefinancial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethiGal responsibilities in accordancewith these requirements. We believe that the audil evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's abilily to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other infomiation The other information compri5e5 the infomiation included in the annual report, other Ihan the financial statements and our auditor's reportthereon. Thetrustees are responsible forthe other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material m isstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlon on other matter prescrlbed by the Companies Act 2006 In our opinion based on the work undertaken in the course of our audit.. the information given in the trustees, report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements., and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. Docusign Envelope ID.. EEC28031-10A542E&91Eg-B31658609D37 INDEPENDENT AUDITORS, REPORT (CONTINUED) TO THE MEMBERS OF BOLTON COMMUNITY AND VOLUNTARY SERVICES YEAR ENDED 31 MARCH 2024 Matters on which we are requlred to report by exceptlon In light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of tNstees' remuneration specrfied by law are not made" or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the statement of trustees. responsibilities, the trustees (who are also directors of Bolton Community and Voluntary Services for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessaryto enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realislic alternative bul to do so. Auditoff s responsibilities for the audit of the financial statements Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an audttor's report that includes our opinion. Reasonable assurance is a high level of assurance bLrt is not a guaranlee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of irregularities including fraud. Our approach to identsfying and assessing the risks of material misstatement in respect of i￿egUlar1ties, including fraud and non-compliance with laws and regulations, was as follows-. the engagement partner ensured that the engagement team collectively had the appropriate competence. capabilities and skills to identÈfy or recognise non-compliance with applicable laws and regulations- we identified the laws and regulations applicable to the charitable company through discussions with trustees and other management, and from our commercial knowledge and experience of the charity sector- we focused on specrfic laws and regulations which we considered may have a direct material effect on the fsnancial statements or the operations of the charity, including the Companies Act 2006, taxation legislation and data protection, employment, environmental and health and safety legislation- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence., and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 14 DocusFgn Envelope ID.. EEC28031-10A542E6-91 E9.B31658609D37 INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF BOLTON COMMUNITY AND VOLUNTARY SERVICES YEAR ENDED 31 MARCH 2024 We assessed the susceptibility of the company's financial statements to material misstatement, including obtsining an understanding of how fraud might occur, by.. making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual. suspected and alleged fraud- and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analytical procedures to identify any unusual or unexpected relationships; tested journal entries to identrfy unusual transactions- and assessed whether judgements and assumptions made in detemiining the accounting estimates were Indi￿tiVe or potential bias. In response to the risk of irregularities and non-compliance wilh laws and regulations, we designed procedures which included, bLrt were not limrted to: agreeing financial statement disclosures to underlying supporting documentstion., reading the minutes of meetings of those charged with governance; enquiring of management as to actual and potential litigation and claims., and reviewing correspondence with relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would b￿Orne aware of non- compliance. Audf(ing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, rf any, Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is I￿ated on the Financial Reporting Council's website at.. www frc or -uklaudktorsres onsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit has been undertaken so that we rnight state to the charitable company's members those matters we are required to state to them in an audiLorfs report and for no clher purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the members as a body. for our audit work. for this report, or for the opinion we have formed Andrew Simm Bsc FCA, Senior Ststutory Auditor For and on behalf of Smlth & Gouldlng Limited Chartered Accountsnts and Statutory Auditors 2 - 4 Southport Road, Chorley, Lancashire PR7 1LD 23 October 2024 15 rrirri Ln ro o) LO ¢wm Docusign Envelope ID.. EEC28031-1QA542E6-91 E9-B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES BALANCE SHEET AS AT 31 MARCH 2024 Notes 2024 2023 Fixed assets Tangible assets Investments 705,259 280,783 718,608 280,783 986,042 999,391 Current assets Debtors Cash at barik and in hand 906,831 1,789.564 288.645 2,619,339 2,696,395 2,907,984 Credftors: amounts falling due withln one year io 1137.4611 1743,503) Net current assets 2,558.934 2,164,481 Net assets li 3,544,976 3,163,872 Funds Unrestricted fund5 Restrirted fund5 12 449,040 3,095.936 341,111 2,822,761 12 Total funds 3.544.976 3,163,872 These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2￿6 relating to small companies. 22 October 2024 and signed on its behalf by: The financial statements were approved by the board on Do¢uSllln￿ by.. Rev Chair 327EF8417... ason Company registration number: 2615057 17 Doojsign Envelope ID.. EEC28031_10A542E&91Eg_B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2023 2023 Reconciliation of net income/{expenditure} to net inflow from operating activities Net incomel(expenditurel for the year 381,104 1485,062) Adjustments for.. Depreciation Investment income Decreasellincreasel in debtors Increaselldecreasel in creditors 18.992 142.4681 1618,1861 1606,0421 17.701 (11,634) 206,728 566,091 Net cash {used in)Iprovided by operating actiVbtie5 1866,6001 293,824 Cash inflow/(outflow) from Investlng activitles Investment income received New investments made Purchase of tangible fixed assets Loan repayments made 42,468 11,634 1170,000) {22,630) {6,000} 15,6431 Net cash generated from/lused In) Investlng artlvftles 36,825 1186,996} Net Idecreasellincrease in cash and cash equivalents in the year 1829,7751 106,828 Cash and c35h equivalents brought forward 2,619,339 2,512,511 Cash and cash equivalents carried fonvard (see below) 1,789,564 2,619,339 Analysls of cash and cash equlvalents Cash at bank and in hand Cash in short term deposit accounts 2,217 1,787.347 2,028 2,617,311 1,789,564 2,619,339 18 Docusign Envelope ID: EEC28031-10AU2E6-91 E&B31658609D37 BOLTON COMMUNITY AND VOLUNTARY SERVICES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Accounting policles Bolton Community and Voluntary Services (Bolton CVSI is a private company limited by guarantee and incorporated in England and Wales. Its registered office is The Hub, Bold Street, Bolton. Accountlng conventlon The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companie5 Act 2006, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffective l January 20191. The charity is a public benefit entity as defined by FRS 102. The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these accounts are rounded to the nearest £.The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. Golng concern basls At the time of approving the accounts the trustees have a reasonable expectation that the charity ha5 adequate resources to continue in operational existence for the foreseeable future. The trustees therefore continue to adopt the 80in8 concern basis of accounting in preparing the accounts. Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds are unrestricted funds which the trustees decide should be set aside for specific projects or purposes. Restricted funds are Subject to specific conditions imposed by donors as to how they may be used. Expenditure which meets these criteria is allocated against the relevant fund. Income, including grants Income is recognised on a receivable basis and is reported gross of related expenditure. Income is recognised when the charity has entitlement to the funds, any performance conditions have been met or are fully within the control of the charity, it is probable that the income will be received and the amount Can be measured reliably. Grants are generally recognised on receipt, or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. Grant income received or invoiced in the period which relates to a performance-related condition fulfilled in 3 later period is deferred to that later period. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the 8rants will be received. Income from services such as payroll and trainin8 is reco8nised once the service has been provided, whilst income from rent of office space and room hire is recognised in the period to which the rental relate5. Income from other fundraising activities is recognised once the event has taken place and monies have been received. Donations are recognised once the charity has been notified of the gift. unless conditions require the deferral of the amount. 19 Docusign Envelope ID.. EEC28031_1 OA&42E&91 E￿￿316S860gD37 BOLTON COMMUNITY AND VOLUNTARY SERVICES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headingsthat a88regate all costs related to that category. Expenditure is recognised once there is a legal or constructive obligation to make a poyment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Costs of raising funds comprise the costs of trading and similar activities and the associated support costs of those activities. Such activities include payroll and training services. renting of offices and hire of rooms. Charitable expenditure comprises those costs directly incurred by the charity in the delivery to beneficiaries of its core activities and services, including Erants administration. The support costs associated with delivery of these activities and se￿iceS is also included. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Support costs include those central functions which assist the work of the charity but do not dirertly undertake charitable artivities. They are allocated to the activity cost categories on bases consistent with the use of the resources, a5 Set out in note 3. Transfers between funds Transfer5 between fund5 arise when expenditure 15 incurred in one fund which can be funded or part- funded by income of another fund. Transfers may also be made from unrestricted funds to clear excess expenditure over income arising in restricted funds. Penslons The company subscribes to a defined contribution scheme covering the majority of its permanent employees. The assets of the scheme are held separately from those of the chority- The pension costs charged in the financial statements represent the contributions payable by the company during the year. Operating leases Operating lease rentals are charged to the Ststement of Financial Activities as incurred. Tangible fixed assets Depreciation 15 provided on all tangible fixed assets at r3tes calculated to write off the cost of each asset over its estimated useful life. taking into account estimated residual value. as follows= Freehold building Telephone equipment Furniture. fittings and equipment Computer equipment straight line over 100 years straight line over 3 years 25% pa on a reducing balance basis 25% pa on a reducing balance basis i.io Investments The charity's investments comprise of bank dep051ts. Income from these investments is recognised when the conditions for receipt of the income are met and there is adequate certainty of receipt Isee Note 1.41. 20 Docusign Envelope ID: EEC28031-10A542E6-S1E9-B31658609D37 BOLTON COMMUNITY AND voiuMfARY SERVICES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 i.ii Debtors Trade and other debtors are recognised atthe settlement amount due. 1.12 Cash at bank and in hand Cash at bank and in hand includes cash and short term hi8hly liquid bank deposits. 1.13 Creditors Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Deferred income is income which is included in the year in debtors or has been received into the bank, but which relates to a subsequent period. such as a grant relating specifically to a future period. It is recognised in the Statement of Financial Activities of that period. 1.14 Financial instruments 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 contrartual 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 ri8ht to set off the reco8nised 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 Basic financial assets, such debtors and cash and b3nk balances lindudin8 bank deposits held as fixed asset investments), are accounted for as per notes 1.11 and 1.12. Baslc financial liabilitles Basic financial liabilities, which include creditors, are recognised as per note 1.13. 21 Docusign Envelope ID.. EEC28031-1 0￿2E6-g1ES-B316s66OgD37 BOLTON COMMUNITY AND VOLUNTARY SERVICES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Details of incoming resources 2023 Total funds 2023 Total funds Unrestricted funds Restricted funds Incorne relating to charitable activities BMBC- Chief Executive's Department BMBC- Strategic Health Development BMBC- Standing Together BMBC- Small Grants and other BMBC- Bolton'5 Community Fund BMBC- UKSPF Environmental BMBC- Family Hubs Bolton at Home NHS Bolton Hospital FT Eric Wright small grants programme Greater Manchester Combined Authorlty GP Federation Health Programme5 IOGM- UKSPF Workforce Programme UK Lottery Unlocking Wellbeing BWITC/Lightful Digital Skills Programme Other grants 225,(NJO 60,971 120,000 63,773 959.610 121,727 27,922 135,780 24,196 225,0 60,971 120,000 63,773 959,610 121,727 27,922 135.780 24,196 220,833 60.971 120.000 48.666 1,225,202 118,S79 112.887 15,000 593,750 161,786 1.114,826 1,114,826 74.339 106,167 74,339 106,167 28,000 235,944 28.000 52.781 183,213 225,788 80.781 3,217.524 3.298.305 2.903,462 Other trading and income generating activitles Rent5 and room hire Training and other income 165,390 2,578 165.390 2,578 147,008 46,574 167.968 167,968 193,582 Net income tor the year This 15 Stated after charging.. 2024 2023 Depreciation Auditor's fees (including VATI 18.992 5,4QO 17,701 4,500 22 Docusign Envelope ID.. EEC28031-IOA542E6-91 E9-B31658609D37 BOLTON COMMUNITY AND VOWNTARY SERVICES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Expendfture 2024 2023 Raisin8 funds Employment costs Depreciation charges Fundraising resources and other trading costs Insurance, telephone. office costs and IT Premises and utility costs 50,709 8,811 10,338 31,260 59.017 54.941 6,029 8,764 13,048 38,728 160,135 121,510 Charitable activities Grants payable (note 15) Employment costs Bank charges, loan interest and similar costs Depreciation charges Insurance. telephone, office Costs and IT Meetings and travel costs Premises and utility costs Publicity and communication Subscriptions, consultancy and professional fees Training costs Other expenditure. including volunteer costs 1,969,307 842,600 l.(XJ7 10,181 47.854 3,406 20,872 11,953 19.680 41,545 71 2,562,064 762.683 1,927 11,672 63.195 4,657 13,630 12,652 23,947 14,284 1.529 2,968.476 3,472,240 Support costs and governance costs Included above are support costs of £167,616 12023 £161,258) in respect of salaries, premises costs, IT expenditure and legal and professional fees, amongst other thing5, which are netessary to underpin the services which Bolton CVS provides, Governance costs of £8,928 {2023 £7,380) are included in the expenditure on charstable activities. Staff costs and numbers Staff costs were as follows.. 2024 2023 Salaries, benefits and secondment National insurance costs Employer's pension contributions 779,663 63,728 49,918 716,772 55,927 44,925 893,309 817,624 The average number of employee5 over the course of the year was 3012023: 331. consisting of 2612023: 291 service staff and 412023: 41 management and administration staff. No employee received emoluments of more than £60,(N)O. The total of remuneration and benefits applicable to key management personnel. excluding national insurance cost, was £169,961 (2023 £159,418). Penslon costs The charity subscribes to a defined contribution pension Scheme in respect of the majority of its permanent employees. The scheme and its assets are held by independent managers. The pension costs shown in note 4 represent Contributions due from the company in the year. 23 Docuslgn Envelope ID.. EEC28031-10A542E&91 E9-B31658609D37 BOLTON COMMUNITY ANO VOLUNTARY SERVICES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Trustee5 and other relhted parties With the exception of the following, the trustees received no remuneration or benefits during the year, nor were any trustees, expen5e5 reimbursed. The charity's main in5vrance policy include5 an element of trustee indemnity taken out for business purposes and not as a benefit to the trustees. Due to the nature of the charity's transactions, there are numerous transactions with other charities and organisations with which Some of the trustees have an association. These are undertaken on an arm's len8th basis, which the charity is able to demonstrate. The Treasurer, Mr D Kay, is a minority shareholder in Beech Business Services Limited, wh ich invoiced accounting, software subscription and related services to the value of £2,644 plus VAT during the year12022 £2,511 plus VATI. Nothing was owing to Beech Business Services at year end. These service5 are provided on an arm's length basis and approved by the Board of Tru5tee5. Tangible fixed ?55et5 Computer & telephone equipment Furniture, rittin85 & equipment Freehold property Total Cost At l April 2023 Additions Disposals 750,000 44,684 3,094 69,353 2,549 864,037 5,643 At 31 March 2024 750,OCKI 47,778 71,902 869,680 Depreciation At l April 2023 Charge for the year On disposals 67.5iJ) 7,5LM) 33,883 2,973 44,046 8,519 145,429 18,992 At 31 March 2024 75.000 36.856 52,565 164,421 Net book value At 31 March 2024 675,000 10,922 19,337 705,259 At 31 March 2023 682,500 10,801 25.306 718.608 Imiestrnents Cash investments at cost Total At start of year Additions 280,783 At end of the year 280,783 24 Docusign Envelope ID.. EEC28031-1 0A￿2E6_9l E9.B31658609D37 80LTON COMMUNITY AND VOLUNTARY SERVICES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 Debtors 2024 2023 Trade debtors Prepayments and accrued income Other taxes and Social security 343,748 562,426 657 203.243 84,845 557 906,831 288,645 io. Creditors: arnounts falling due within one year 2024 2023 Trade creditor5 Accruals Deferred income Other creditors 16,433 108,586 12.168 274 15.722 667,007 60.500 274 137,461 743,503 Deferred income relates to grant income received for specific expenditure which partly, or wholly, takes plate in a later period. The amount deferred at year end equates to the portion still to be spent at that point. ii. Analysis of net assets between funds Unrestrlrted funds Restrirted funds Total At 31 March 2024: Tangible fixed assets Investments 58,677 103,000 287,363 646,582 177,783 2,271,571 705.259 280,783 2,458,934 Net current assets 449,040 3,095,936 3,444,976 At 31 March 2023: Tangible fixed assets Investments 64,781 103.000 173,330 653,827 177,783 1,991,151 718,608 280,783 2,164,481 Net current assets 341,111 2,822,761 3,163,872 25 O V Ln Ln 0￿M￿rnIn tfi 0¢ othriJ(DtsO com00m￿￿tt cn¢￿*mcnry co cri ro ￿ Lri Ln o1nThLn￿C0ts- mu)m (7> m (Tr A o Lo OrnfNrc oAriJo Mo￿0￿0 o rx LD Ln o Ln0￿￿￿j O •) Ln Or*0 i LD ommrowf OLn**r m¢wmo LD*mwr4 • Lfi Lrtr gi oi ¢ri ¢*rom ty Ln Ln v¢ ￿ Ln- ino> Lft Q m co u) fN- )0 O P) Ln oc4￿M o rrt cli ￿ O Li ¢rt Ln￿ty0 co￿0 Co0￿ fn¢ Lt) m (XJ o (ri o £ tPu7J c ca u w(J o o t C w) (a Ei 0)é