Company registration number: 02448308 Charity registration number: 1006660
DEARNE VALLEY VENTURE TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting Angels Limited Chartered Management Accountants 46 Broadway Swinton Mexborough South Yorkshire S64 8HF
Dearne Valley Venture Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2—3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities (including Income and Expenditure Account) | 5 |
| Comparative Statement of Financial Activities (including Income and Expenditure Account) | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8—12 |
Dearne Valley Venture Reference and Administrative Details For The Year Ended 31 December 2024
| Trustees | Mrs Andrea Birkin - Secretary (appointed 11/12/2024) |
|---|---|
| Mr Alan George - Chairman (appointed 11/12/2024) | |
| Mrs Nicola Lovell - Director (appointed 11/12/2024) | |
| Mrs Deborah Pearson - Director (appointed 11/12/2024) | |
| Mr Nigel Roberts - Director (appointed 11/12/2024) | |
| Mrs Helen Scott - Director (appointed 11/12/2024) | |
| Mrs Josephine Peace - Secretary (resigned 11/12/2024) | |
| Mr Ronald Binks - Director (resigned 11/12/2024) | |
| Mrs Emma Bruce - Director (appointed 11/12/2024) (resigned 14/04/2025) | |
| Mr Terry Clarkson - Director (resigned 22/05/2024) | |
| Mrs Miriam Dickinson - Director (appointed 11/12/2024) (resigned 14/04/2025) | |
| Mrs Marie Emmett - Director (appointed 22/05/2024) (resigned 11/12/2024) | |
| Mrs Jill Jevons - Director (appointed 22/03/2024) (resigned 11/12/2024) | |
| Mr Malcolm Jevons - Chairman (resigned 11/12/2024) | |
| Mrs Susan Phillips - Director (appointed 22/05/2024) (resigned 11/12/2024) | |
| Mrs Paula Walford - Director (appointed 22/05/2024) (resigned 11/12/2024) | |
| Mrs Ruth Waterworth (resigned 22/05/2024) | |
| Charity Number | 1006660 |
| Company Number | 02448308 |
| Principal Address | Dearne Renaissance House |
| Priory Road | |
| Bolton upon Dearne, Rotherham | |
| South Yorkshire | |
| S63 8AE | |
| Registered Office | Dearne Renaissance Centre |
| Priory Road | |
| Bolton upon Dearne, Rotherham | |
| South Yorkshire | |
| S63 8AE | |
| Independent Examiner | Robert Lee FCMA, CGMA |
| Accounting Angels Limited | |
| Chartered Management Accountants | |
| 46 Broadway | |
| Swinton | |
| Mexborough | |
| South Yorkshire | |
| S64 8HF | |
| Bankers | Lloyds Bank plc |
| 25 Gresham Street | |
| London | |
| EC2V 7HN |
Page 1
Dearne Valley Venture Company No. 02448308 Trustees' Report For The Year Ended 31 December 2024
The trustees present their report and the financial statements for the year ended 31 December 2024.
Objectives and Activities
Aims and Objectives
The objectives set out in the governing document are:
To relieve poverty and to advance education amongst persons in the Dearne Valley area of South Yorkshire, with particular regard to such persons who are struggling financially, whether unemployed or employed, through the provision of training and through such other charitable means as may be deemed appropriate.
To advance and encourage the provision of facilities of leisure time occupation for the benefit of the aforesaid persons in the interests of social welfare and with the object of improving the quality of life of such persons.
Public Benefit
Dearne Valley Venture is an independent organisation, owned and governed by the people who live within the Dearne Valley. This independence allows us the freedom to advocate and react on behalf of our membership and the wider public in an impartial way. The main activities are to provide a life-long learning resource and to support people in need. We help people to build relationships and reduce social exclusion, so that they can fulfil their potential and contribute to society. The activities we offer are in response to local need and requests.
Our long-running project, Links 4 Families (formerly Links 4 Youth), provides a range of activities for families and young people. The project is funded by the National Lottery Community Fund and employs two part-time staff. In 2024, the project continued to work with families, adults and children. Offering a variety of outings and events. Another aspect of the work is arranging training courses so that local people can gain valuable knowledge and skills. Our staff and volunteers continue to work with some of the communities ‘hardest to reach young people, who may suffer from low self-esteem, lack confidence and have no aspirations. Also supporting young people involved with, or on the fringes of, drug/alcohol use. Our building, Dearne Renaissance Centre (managed by our wholly owned subsidiary, Dearne Partnership Venture) has been closed for refurbishment since October 2023, re-opened in July 2024. Since re-opening we have secured three long term room renters, also several regular hourly room rentals. We continue to work hard in order to promote the building and facilities available within the building.
The requirements of our funders have all been met, thanks to the commitment and dedication of our staff and volunteers. Regular monitoring and reports are required to demonstrate the standards set are being met, and the desired outcomes are being achieved.
The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Related parties
Dearne Valley Venture holds 100% of the issued share capital of Dearne Partnership Venture Limited (registered company number 06172408), following the transfer of shared from Barnsley Dearne Community Partnership. The company is now a wholly owned subsidiary of Dearne Valley Venture.
Dearne Partnership Venture Limited was formed to purchase and manage the former Lacewood Primary School, now Dearne Renaissance Centre. The object of the company is to procure profits and gains for the purpose of paying them to Dearne Valley Venture.
Financial Review
Financial Position
The statement of financial activities shows a deficit for the year of £18,140 (2023 surplus of £9,254). The total funds at the year end stand at £14,030 (2023 £32.170).
Details of funding received during the year are set out in the accounts.
The charity’s main funder is the National Lottery Community fund and the current three-year grant ended in August 2024. An application for continuation funding has been submitted and denied.
Therefore, the Links 4 families project was dissolved in December 2024 due to lack of funding.
Structure, Governance and Management
Page 2
Dearne Valley Venture Trustees' Report (continued) For The Year Ended 31 December 2024
Governing Document
Dearne Valley Venture is a registered charity with the Charity Commission and a company limited by guarantee. The affairs of the charity are governed by its Memorandum and Articles of Association, dated November 1989, most recently amended 26th January 2004. The company has no share capital and the liability of each member in the event of winding-up is limited to a sum not exceeding £1.
Membership of the organisation is open to any individual, living or working in the area, who supports the objectives of the charity; and to any voluntary organisation and other bodies active in the area which supports the objectives of the charity. Dearne Valley Venture is governed by a Council of eight members, elected annually at the Annual General Meeting by representatives of the member groups. The new Council then meets to appoint the Executive for the forthcoming term of office. The Council members are the Trustees of the charity any may exercise all powers of the charitable company. All the council members are volunteers bringing a cross-section of varied experience and skills that enhance and guide the decision making of the council. Training that may be required is provided by the specialist training bodies, to ensure that any new legislation and policies are fully understood. The Executive and Council reserve the right to co-opt additional members should there be a vacancy due to a prolonged illness, death or resignation of an elected member.
There is no executive manager responsible for day-to-day management of the charity. M Jevons, the current Chairperson, is therefore the ultimate line manager for staff.
Trustee Selection Methods
The Trustees are also the directors of the charity for the purpose of company law. The Trustees are elected at the Annual General Meeting. In accordance with the Articles of Association, all of the Trustees are required to retire each year. The Trustees may at any time co-opt other persons to fill any casual vacancies occurring between Annual General Meetings.
Trustee induction and training.
Each new trustee is given a copy of the constitution and the latest Trustee’s annual report and accounts, on or before appointment. New Trustees are also given an induction to the organisation and the opportunity to meet project staff. Trustees are encouraged to read the Charity Commission guidance on Trustee Responsibilities.
Trustees are informed of major risks when appointed and made familiar with how Dearne Valley Venture operated as a charity in the local community. Risk assessments are carried out for all activities.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
The trustees' report was approved by the board of trustees and signed on its behalf by:
Mrs Andrea Birkin Trustee 31/10/2025
Page 3
Dearne Valley Venture Independent Examiner's Report to the Trustees of Dearne Valley Venture For The Year Ended 31 December 2024
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.
Responsibilities and Basis of Report
As the charity trustees of the Company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent Examiner's Statement
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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
-
the accounts 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 accounts 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 accounts to be reached.
Robert Lee FCMA, CGMA 31/10/2025 46 Broadway Swinton Mexborough South Yorkshire S64 8HF
Page 4
Dearne Valley Venture Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 December 2024
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies 3 Charitable activities: Income from charitable activities EXPENDITURE ON: Charitable activities: 4 Expenditure on charitable activities NET (EXPENDITURE)/INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 12 |
Unrestricted funds £ 750 - |
Restricted funds £ - 63,108 |
2024 Total funds £ 750 63,108 |
2023 Total funds £ - 72,189 |
|---|---|---|---|---|
| 750 | 63,108 | 63,858 | 72,189 | |
| 75 | (82,073) | (81,998) | (62,935) | |
| 825 | (18,965) | (18,140) | 9,254 | |
| 825 4,058 |
(18,965) 28,112 |
(18,140) 32,170 |
9,254 22,916 |
|
| 4,883 | 9,147 | 14,030 | 32,170 |
The Statement of Financial Activities includes all gains and losses recognised in the year. All the activities of the charitable company are classed as continuing. Comparative figures for each fund are shown in notes to the accounts
The notes on pages 8 to 12 form part of these financial statements.
Page 5
Dearne Valley Venture Comparative Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 December 2024
| Notes INCOME AND ENDOWMENTS FROM: Charitable activities: Income from charitable activities EXPENDITURE ON: Charitable activities: 4 Expenditure on charitable activities NET INCOME NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: Total funds brought forward TOTAL FUNDS CARRIED FORWARD 12 |
Unrestricted funds £ - |
Restricted funds £ 72,189 |
2023 Total funds £ 72,189 |
|---|---|---|---|
| - | (62,935) | (62,935) | |
| - | 9,254 | 9,254 | |
| - 4,058 |
9,254 18,858 |
9,254 22,916 |
|
| 4,058 | 28,112 | 32,170 |
The notes on pages 8 to 12 form part of these financial statements.
Page 6
Dearne Valley Venture Balance Sheet As At 31 December 2024
| Notes FIXED ASSETS Investments 9 CURRENT ASSETS Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 10 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: Amounts Falling Due After More Than One Year NET ASSETS FUNDS OF THE CHARITY Restricted Funds Unrestricted Funds TOTAL FUNDS 12 |
Unrestricted funds £ 100 |
Restricted funds £ - |
2024 Total funds £ 100 |
2023 Total funds £ 100 |
|---|---|---|---|---|
| 100 2,114 |
- 5,147 |
100 7,261 |
100 30,226 |
|
| 2,114 - |
5,147 (1,500) |
7,261 (1,500) |
30,226 (825) |
|
| 2,114 | 3,647 | 5,761 | 29,401 | |
| 2,214 | 3,647 | 5,861 | 29,501 | |
| 2,669 | 5,500 | 8,169 | 2,669 | |
| 4,883 | 9,147 | 14,030 | 32,170 | |
| 9,147 4,883 |
28,112 4,058 |
|||
| 14,030 | 32,170 |
For the year ending 31 December 2024 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Mrs Andrea Birkin
Trustee 31/10/2025
The notes on pages 8 to 12 form part of these financial statements.
Page 7
Dearne Valley Venture Notes to the Financial Statements For The Year Ended 31 December 2024
1. General Information
Dearne Valley Venture is a company limited by guarantee, incorporated in England & Wales, registered number 02448308 and registered charity number 1006660. The registered office is Dearne Renaissance Centre, Priory Road, Bolton upon Dearne, Rotherham, South Yorkshire, S63 8AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "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) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The charitable company is a Public Benefit Entity as defined by FRS 102.
2.2. Going Concern Disclosure
The trustees have not identified any material uncertainties related to events or conditions that may cast significant doubt about the charitable company's ability to continue as a going concern.
However, it is noteworthy that there was a cessation of the charity's main grant from the National Lottery Community Fund in August 2024 and the subsequent denial of an application for continuation funding. The lack of funding necessitated the dissolution of the charity's principal activity, the 'Links 4 Families' project, in December 2024.
As referenced in the trustees report, the charity building, Dearne Renaissance Centre (managed by the wholly owned subsidiary, Dearne Partnership Venture) was closed for refurbishment since October 2023, re-opened in July 2024. Since re-opening there are three long-term room renters, also several regular hourly room rentals.
The charity continues to work hard in order to promote the building and facilities available within the building.
2.3. Fund Accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.
Restricted funds are to be used for specific purposes as laid down by the donor.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2.4. Incoming Resources
All material incoming resources have been included in the Statement of Financial Activities when the charity is entitled to the income, when any performance conditions attached are met, when it is probable that the income will be received and when the amount can be measured reliably.
2.5. Donated Goods and Services
Donated facilities and services are recognised in the accounts, at the amount the charity would pay in the open market for a service equivalent to that being donated, when the charity would otherwise have purchased them and the value can be measured reliably.
Donated goods for the charity's own use are recognised as income, at their fair value. The contribution of general volunteers is not recognised as income in the charity accounts.
2.6. Resources Expended
All expenditure is included on an accruals basis and is recognised as a liability is incurred.
The charity is not registered for VAT and accordingly resources expended are shown gross of irrecoverable VAT.
Cost of raising funds includes all expenditure incurred to raise funds for charitable purposes, including costs of all fundraising activities and cost incurred in seeking donations, grants and legacies.
Expenditure on charitable activities includes all resources applied by the charity in undertaking work to meet its charitable objectives.
2.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
Page 8
Dearne Valley Venture Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
2.8. Taxation
The charity is exempt from tax as all its income is charitable and applied for charitable purposes.
3. Income from Donations and Legacies
| . Income from Donations and Legacies |
|||
|---|---|---|---|
| Donations and gifts . Analysis of Expenditure Expenditure on charitable activities Expenditure on charitable activities . Support Costs Employee costs Premises expenses General administration Premises expenses General administration |
Activities undertaken directly £ 48,785 |
2024 Unrestricted funds £ 750 |
2023 Unrestricted funds £ - |
| Support costs (see note 5) £ 33,213 |
2024 Total £ 81,998 |
||
| Activities undertaken directly £ 41,500 |
Support costs (see note 5) £ 21,435 |
2023 Total £ 62,935 |
|
| 2024 Expenditure on charitable activities £ 17,357 14,007 1,849 |
|||
| 33,213 | |||
| 2023 Expenditure on charitable activities £ 517 20,918 |
|||
| 21,435 |
4. Analysis of Expenditure
5. Support Costs
Page 9
Dearne Valley Venture Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
6. Independent Examiner's Remuneration
During the period, the cost of the indepent examination and accountancy services, provided by Accounting Angels Ltd was £1,500
7. Staff Costs
Staff costs were as follows:
| taff costs were as follows: | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Wages and salaries | 48,904 | 41,500 |
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.
8. Average Number of Employees
Average number of employees during the year was: 2 (2023: 2)
9. Investments
| Cost or Valuation As at 1 January 2024 As at 31 December 2024 Provision As at 1 January 2024 As at 31 December 2024 Net Book Value As at 31 December 2024 As at 1 January 2024 |
Listed £ 100 |
|---|---|
| 100 | |
| - | |
| - | |
| 100 | |
| 100 |
10. Creditors: Amounts Falling Due Within One Year
| Other creditors Accruals and deferred income 11. Loans Amounts due from Dearne Partnership Venture Amounts falling due between one and five years: Other loans |
2024 £ - 1,500 1,500 2024 £ (8,169) |
2023 £ 825 - |
|---|---|---|
| 825 | ||
| 2023 £ (2,669) |
Page 10
Dearne Valley Venture Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
12. Movement in Funds
| Unrestricted funds General: General unrestricted fund Restricted funds BMBC - Barnsley Better Bonds BMBC - Redundancy CRT - Coalfield Regeneration Trust DMBC - A&E Reduction DMBC - Youth Extension National Lottery Community Fund Total restricted funds Total funds Unrestricted funds General: General unrestricted fund Restricted funds BMBC - Barnsley Better Bonds DMBC - A&E Reduction DMBC - Youth Extension National Lottery Community Fund Total restricted funds Total funds |
As at 1 January 2024 £ 4,058 - - - 3,931 9,092 15,089 |
Income £ 750 3,500 17,357 2,000 - 12,289 27,962 |
Expenditure £ 75 (3,500) (17,357) (2,000) (400) (21,381) (37,435) |
As at 31 December 2024 £ 4,883 - - - 3,531 - 5,616 |
|---|---|---|---|---|
| 28,112 | 63,108 | (82,073) | 9,147 | |
| 32,170 | 63,858 | (81,998) | 14,030 | |
| As at 1 January 2023 £ 4,058 (750) - (3,197) 22,805 |
Income £ - 750 3,931 12,289 55,219 |
Expenditure £ - - - - (62,935) |
As at 31 December 2023 £ 4,058 - 3,931 9,092 15,089 |
|
| 18,858 | 72,189 | (62,935) | 28,112 | |
| 22,916 | 72,189 | (62,935) | 32,170 |
National Lottery Community Fund a three-year grant for the Links 4 Families project which will provide a range of activities devised by the community to address the spiral of deprivation experienced within the Dearne Community. The grant will fund a part time Development Worker and a part time Outreach Worker, together with general running expenses and travel/training for staff and volunteers.
DMBC: Youth Extension Project a grant to fund a Youth Project Worker, to work alongside Links 4 Families, to extend activities and to reach more young people and families.
DMBC: A&E Reduction - a grant to provide basic first aid kits and safety equipment, together with information and advice to ease the worry for families, with the aim of avoiding visits to A&E
- Transactions with Trustees
Page 11
Dearne Valley Venture Notes to the Financial Statements (continued) For The Year Ended 31 December 2024
None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.
14. Related Party Disclosures
At the year end, a sum of £2669 was due to the chairty from Dearne Partnership Venture Limited (reigstered company number: 06172408), a company wholly owned by the charity.
15. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 12