Company Registration Number.. 2902472 Charity Registration Number. 1034697 COUNCIL FOR VOLUNTARY SERVICE NORTHNMPTON AND COUNTY (A Company Limrted by Guarantee) TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACZV8QB8 28103r2024 COMPANIES HOUSE A10
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COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY (A Company Limited by Guarantee) FOR THE YEAR ENDED 31 MARCH 2023 Company Registration Number. 2902472 Charity Registration Number." 1034697 Registered offirR'. 32- 36 Hazehvood Road Northampton NN1 1LN Directors and Trustees The directors of the chariiatAe company (the chanty) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. Names of trustees {directors> who served during the year arKI since the year end were as follows- Robert Goulboume- Chair George Hook Bernard Lock- resigned 31 May 2023 John Nightsngale- resigned 31 May 2023 Paul Jackson Bankers: Bardays Bank plc Northampton Company Secretary Vacant Sdicitor: Toller Hales Collcutt Northampton IndeperKlent Examiners.. DNG Dove Naish LLP Northampton
COUNCIL FOR VOLUNTARY SERWCE NORTHAMPTON & COUN (A Company limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2023 INDEX Report of the Executive cornttee IrKlependent Examiners Rep)rt ounting Polic4es 10-12 Statement of Financial Acliwties 13 Statement of Financial Position 14 Notes to the Financial Statements 15-21 SL2ff List 22
COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON & cOuy (A Company limited by guarantee) Page 1 REPORT OF THE EXECUTIVE COMMirrEE Forewords from the Chair On behalf of the Trustees (who are also Directors) of the Council for Voluntary Servi Northampton & County (cvs). I present this years 'Annual Report and Financial Statements for the year ended 31 March 2023., Looking back at the charity's aspirations for 2022 23 set out in the 'Looking ahead" paragraph, I can see thal we missed all four key components by quite away. One thing was true however, more resources and time was spent in protecb.ng our services against the rising pressures caused by the rising cost of living, and vthich continues to prove problematic. BLrt, throughout all the thanges the work of the Counal for Voluntary Service Northampton and County. continues to be ddivered by our dedicated S team, who as aVayS put the customers and ServIS first against whatever is going on elsewhere. Yet, despite the conlinued economic uncertainties that exists, there has been encouragement in the numbers of enquiries from voluntsry sector groups seeking our services. l am also pleased to share that trust have been openly honest aboLrt the charity's financial position and have shared their ideas about charvJes that can be made to improve the charity's future financial position. It is, as always, at this point of the report, where I give 'Thank you, to the stsff team for their ntinued commitrnent and loyalty to the work of the charity. despite the challenges being faced. Thank you. also goes to Ihe trustees and COTrtrustee for their continued support for the work and aims of the charity, and for thr frank and open contributions on actions that need to be taken to overcome the foreseeable challenges ahead. Going Concern Trustees are mindful that the Counc41 for Voluntary Service Northampton & County (CVS). rnh1 not be considered a 'going ConM,. based on the rrent yearfs financial results. IhThilst the staff team arKI Trustees have identified potential owortunthes to increase . tumover reduce expenditure these have not yet been sufficient to ensure the charity's financial sustainabilty in the longer-tem. Part of the assets held in the form of shares will be sold in order to pay our credf(ors as they fall due. More infonnation ab)ut the future of the chantys planned changes can be found on page 7 of this report under the heading 'Looking ahead.. Structure and Governance CVS Northampton & County is a Chariiable Cornpany Limited by Guarantee. having no share capital. It was incorporated on 25 March 1994 and was registered as a charty on 8 March 1994. The charity was established undef a Memorandum of Association which established the objects and powers of the chanty and is govemed under its Artides of Association. In the event of the chanty being wound up. every member. whilst a member and within one year of asing to be a member. undertskes to contribute an amount not exceeding £110 the costs. charge and expenses of the Company. CVS is managed by a voluntary Executive Boafd, which meet quarterly either personally or via ZOOM. lo make policy, strategic and personrEI decisions.
COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON & COUNTY {A Company limited by guarant) Page 2 REPORT OF THE EXECUTIVE COMMIThEE The Executive Committee directors {trustees) are appointed at the Annual General Meeting. At least one third must stand for re-election each year on a rotation basis. There can be up to fvielve trustees., there are Gurrently three. none of whom are nominees of major funders. The current members (trustees). who are also th'rectors of CVS Northampton & County, are listed at the front of these financial stateffnts. Upon election or appointment new Trustees are provided with 1ndLtion information and meet key staff. The day-t(Fday delivery of services was managed by a staff team of 3, regularly reporting to the Chair. Staff members durin9 the year are listed on page 22. CVS has a large membership in the County. and seNices are not restricte(I to members area. Objectives and Activities The Objects of CVS are to promote any charrtable purposes for the benefft of the Communty in Northamptonshire, and to promote and organise co-operation in achieving them. In addrtion to this. CVS aims to provide affordable accountancy and payroll services to community organisalions in Northamptonshire and beyond. CVS meets these objectives through contributing to County and other plans and strategies, through providing direct services to help voluntary organisations achieve their fvll potential, and through piloting programs that address new issues arKJ areas of need. CVS avoids reliance on grant funding and currently earns 411 of its income from fee5 for direct services, and from contracts to deliver innovats.ve projects. CVS nevertheless seeks grant funding for strategic develoKYnents that will accelerate aim of long-temi financial independence. In setting the objectives the trustees give careful consideration to the Ch*ty Commission's general guidance on public benefrt Public Benefrt CVS Northampton & County (CIIS). in planning and deliverirKJ of services to voluntary and community organisations gives serious consideration to the Charity Commission's general guidance on putAic benefrt and in particular to the seclors in which chanty provides services. Activities During the year we continued to pro%llde a full accourrtancy, independent examination. and payroll sep4ice to customers. Additionally. during the year CVS. on request. provides information and advice on issues affectirvJ the sector. And. where requested to, CVS Northampton will help Trustees l employees navigate the procedures to be applied when closing their charity.
COUNCIL FOR VOLUNTAR Y SERVICE NORTHAMPTON & COUNT (A Company limrted by guarantee) Page 3 REPORT OF THE EXECUTIVE COMMIThEE Achievements and Performance CVS charge modest fees for services provided. which are based on full cost recovery. The development and improvement to servi$ are as a dired result of involving and listening to our users, needs, before designing and delivering quality services, that the voluntary sector recognise to be of direct and pradical help in achieving their own objeth"ves. Each of our services combine professional expertise with an uThlerstanding of the votuntary and community sector built over 100 years plus expenen. Community Finance Service During the year. we have continued to help organisations across the County. Through listening to the usefs of our seNices and their needs, we have changed the way services are delivered. This means making use of appropriate technologies and digital platforms. which also make possible Servi expansion. Regrettably, as organisats'ons cease to operate, because of the impact of the pandemic and their funding siluab"on, we have lost bugness. But on a posttive note. CVS has gained new business fr¢Jm groups who requested our services. In 202212023 we handled £4.3m (in 2021122.. £4.1 m) on tehalf of our other organisahons. Our activities have remained static over that of the previous year, mainly due to the ¢ost-of-living increases. Independent ExaminationslAccountancy Services Independent Examinations. often referred to as IE'S. ensures that financial records kept by charities and voluntary organisations mplY with the Chanty Commissions, regulations. Also. that finanaal accounts are that vthich satisfy the Commissions, requirements. Trustees should. rf they do not require an audrt, have their reCOrdaccountS independently examined. The examination is a major part of good govemance and go¢)d ffinancial control. It is a safeguard for Trustees, donors. funders and users. It also gives Trustees assurance that they are meeting their legal obligations gardIng governan.
COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON & COUNTY (A Company limited by guarantee) Page 4 REPORT OF THE EXECUTIIE cOMMIEE Independent ExaminationslAccounlancy Services (conL) Funders will always request accounts and can be reassured of govemanc2 etc., if accounts have been independently checked. Although CVS does not carry out audits, we do prepare acc¢Junts. schedules and appropriate file documentation for audit, which can reduce audit costs. We work with many auditors across both North aThJ West Northamptonshire. Why do we prowde an IE sepiice? Because the funds of groups are limited, and this service can save a group a considerable amount of money. Payrolls CVS provides a qualty comprehensive payroll semce. which includes paying employees, sutffiissions to HMRC and general HR infomiation. all provided by highly trained and approachable staff. During the year 4140 payslips were produced, which means on an average month this one service supported 81 employers across the County. voluntary groups and charities. Wtth the Workforce Pension fully implemented. all groups need to be compliant. Our Workforce Pension Supwrt Service helps a number of organisations slay up to date. Accounting l Bookkeeping Services Although these servi$ have been around on a small scale f many years. V have not greatly advertised them. The services continue to grow by word of mouth, more than marketing. As funding across the sector reduces year on year making reSoUrS scarcer. it is a battle behveen meeting legislative requirements and delivering front line support. Responding to requests from the sedor to provide accounting support, CVS'S Trustees have supported the devdopment of this servi. which is delivered by qualffied staff The sepiice is flexible to meet the needs of indNidual organisations, and it is cost effective. Vvhether the function is perfomed in-house or at CVS'S offices or not, you have access and support from a friendly team. This service can indude (the list is not exdustve): Costings for funding applications Full cost-recovery budget seth'ng Day-to-day bookkeeping Cash flow forecasts. Preparing acxounts in a required fom)at Completing arKI submitting Grft Aid claims VAT Returns Financial procedures Financial systems
COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON & COUNTY (A Company limited by guarantee) Page 5 REPORT OF THE EXECUTIVE COMMIThEE Human Resource Assistsnce We continue to assist when asked and where can. Except where specffic arrangerrents are made. this SeiCe is not fvnded. Closure During Ihe year several tharities ask for assistan in winding up thwr charity. This work was carried out in a professional and sympathetic manner ensuring that thar legal obligations were met. General Support CVS handled many enquiries and calls for infomalionlsupport in the year. We monilor the issues". raised to identify the key areas where is needed. We are often the organisation that groups call on for support for finanaal, HR and governan proemS. even rf they are not users of our services. Staff I Volunteers Our staff and volunteers play a vital rde in the success of CVS. This. more than any other time. is greatly appreciated by the Trustees.
Page 6 COUNCILFORVOLUNTARYSERVICE NORTHAMPTON & COUNTY {ACompanyLimitedbyGuaranteel REPORT OF THE EXECUTIVE cOMMIEE ¢ontinued) Premlses Our activities are based in one suite in 32-36 Hazeknod Road, Northampton, NN1 1LN. Financial Review The year*nded figures at 31 March 2023 showed a better than expected closing balance £11,322 (2022: £18,479) Income from 'Unrestricted charitable activities. decreased during the year by £2,396 on the previous year, giving an overall defiat of £7.157 (in 2022.. the surplus was £13,149). Expenditure during the year e¢l saving made by paying fewer hours of overtime giving expenditure for the year of £82,167 lin 2022 £64,226). The accounts continue to re¢ognise a provision relats.ng to additional contributions payable to The Pension Trust Pension Scheme until 2025. The contributions payable is committed to be paid annually under an agreed deficil recovery plan. The provision recognised represents the net presenl value of the total contributions payable under the plan. The unwinding of the discount rale and movement brought about by chan9es in assumptions is recognised in the Statement of Financial Activities under Employment Costs. The addrtional deficrt contribLrtion for the year was £5,878. This affects the look of our Balan Sheet and SOFA but has not affected our ability to continue to operate. This provision, brought about by recognition of the long-tem liability. is largety outside of the charity's controi and does not affect the charity's short-term fuTrJing. Risk Assessment CVS Northampton & County does not believe it is subject to any substantial risk beyond the liabilities disclosed in its Annual Report and Accounts. However. as noted elsewhere, the longer tem) financial sustsinability of the chanty remains uncertain. CVS, however, has public. employer and wofessional indemnrty insurance to protect it in the event of a daim. Reserves and Inveslment Policies The current reseNe policy is to maintsin sufficient cash flow for known commitments, and replacement of certain assets. Most of CVS'S income is earned by way of fees generated throughoLrt the year. For reasons of convenience in transferring arKI depositing money. CVS Northampton & County's investsnent policy was chosen from the best deposit accounts available from CVS'S existing Building Society and Bankers.
COUNCIL Page 7 COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON & COUNTY IACompanyLimitedbyGuarantee) REPORT OF THE EXECUTIVE COMMirrEE (continued) Looking ahead Our focus wrll still be to support our ojstomers in whatever way we tsn. and to respond to demands for SeICe5 to both current and new dients. CVS Northampton will continue to support Voluntary & Communty sector organisations with advlce1assistsn. particularly on financial. govemance. business planning and HR matters. Where necessary, act a5 the Accountable Body for restricted funds, and manage funds on behalf of other organisations. These activities will be ¢harged on the basis of recovering all costs plus a small markup. The benefit of increased prices across all adivities and deregistering for VAT. are beginning to have an impact on the sUstaina'1ty of the charity. It is also clear that more time is needed for these changes to provide the required resuh of improving the lorvJer term financial sustainabilty of the charity- It Must also be noted. that some of the benefits of these changes have been lost due to the closure of charities within the Sector and. some of whom have provided sep4es to. Trustees recognise 'going concem. challenges faang the Council for Voluntsry Services and have begun the pro$5 of tying to secure grant funding, whilst acknowledgirvJ, that rf additional fvnding cannot be secured the charity may have to close. This report has been prepared in accordan wrth the speual provisions of Part 15 of the Companies Act 2006 relating to small companies. Signed on behalf of the executive cormiittee. Robe Goulbourne ChairlDirector Date 14th March 2024
Page 8 COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUN (A Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COUNCIL FOR VOLUNfARY SERVICE NORTHAMPTON AND couKrY I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 31 March 2023 which are set out on the attached pages. 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 preparats'on of the accounts in accordance wrth the requirements of the Companies Act 2006 {'the 2006 Act,). Having satisfied myselfthat the accounts ofthe company are not required lo be audf(ed under Part 16 of the 2006 Act and are eligib for independent examinalion, I reFQrt in respect of my examination of your company's accounts as carried oui under seclion 145 ofthe Charities Act 2011 {'the 2011 Ad')- In carrying out my examination I have followed the Directions given by the Charty Commission under section 145{5)(b) of the 2011 Act. Our instructions were extended from the above lo carry out addrtK)nal work by way of a review of the systems operab'ng on the handling of charty clients, monies (see note 17 to the accounts) and our report is extended accordingly. The work performed is not to the extent which would be required under a full audrt. Independent examlnerfs slatement I have cornpleted my examination. I confimi that no matters, olher than thal disclosed below, have come to my attentK)n in Connection wtth the examination gNing me uSe to believe that in any matenal respe. 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 wrth 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 accourrts give a 'true and tsir 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 Ststement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance bwth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in conneth.on with the examination to which attention shoukl be dravm in th report in order lo enable a proper understanding of the accounts to be reached other than thal disclosed below. Conclusions and qualrfication relating to going concern There is a material UnrtaInty regarding the charity's ability lo continue operating as a going concern. I have not recwved sufficient evKlence to confim that the charity is likely to have sufficient reserves to be able to continue in operation for at least 12 months from sign off of my report. My report is qUalifd in thi8 regard only. Please see pages 1 and 7 of the Trustees Report for further infomab"on.
Page 9 COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY (A Company Llmited by Guarantee) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY Report on the handling of charity clients, rnonles In respect of the extended instructions noted above we Carried out a review of the systems operating on the handling of charty clients, monies and report that we dKI not idenlify any errors or weaknesses in the system and that the system appeats to be operatirrfj effectively. Use of our report This ieport is made solely to the charrtable company's members, as a body. in accordance wrth Chapter 3 of Part 16 of the Compan$ Act 2006. Our independenl examination work has been undertaken so that we might stste to the charitable company's members those matters we are required to stale to them in an independent examinerfs report and for no other purpose. To the fullest extent pemitted by law. we do not 8pt or assume responsibility to anyone other than the charitable company and the charf(able company's members as a body. for our independent examination work, for this report. or for the opinions we have formed. NOla Fox FCA DNG Dove Naish LLP Eagle House. 28 Billing Road Ncrthamplon, NN1 SAJ Dale.. 20 fvknfch 202f
Page 10 COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON & COUNTY {A Company Limited by Guarantee) PRINCIPAL ACCoU1NG POLICIES The financial statements of the Charitable Company. which is a public benefft entty under FRS 102, have en prepared under the historical cost convention and in accordance with the Companies Act 2¢Th and the Statement of Recommended practi SORP {FRS102) issued on 1 October 2019. applicable UK Accounting Standards and the Charities Act 2011. The presentation currency of the financial statements is the PourKI Steding (£1 Format The company has taken advantage of the rKowsions of fv Companies Act 2006 and presented an income and expenditure account in the form of a statement of financial activities on the grounds that it enables the financial statements to show a true and fair view of the result for the penod. The prinupal accounting policies of the company are set out betow. Incoming Resources Voluntsry Income Voluntary income, including donations. legacies and grants that promde core funding or are of a general nature are recognised where fthe is entitlement. certainty of rept and the amount can be measured with sufficient reliabilty. Investment Income Interest is brought into account on a receivable basis and dividend income on a received basis. Income from Charilable Activities Income from charitable activities indudes income received under contrart or where entitlement to grant funding is subject to specific perfomance conditions is regniSed as earned. Grant income in this category provides funding to support perfomance activrties and is recognised where there is entitlement. certainty of receipt and the amount can be measured with sufficient rdiability- Resources Expended Expenditure is recognised when liability is incLrred. 1. The Costs of Generating Funds are those costs incurred in attracting voluntary in¢ome. 2. Charitable Activities indude expenditure associated with direct servi$ and membership support. 3. Govemance Costs indude those incurred in the govemance of the charity and its assets and are pnmarily associated wth constttLrtional arKI stalutory requirements.
Page11 COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON & COUNTY {ACompanyLimitedbyGuarantee) PRINCIPAL ACCOUNTING POUCIES Allocalion of Costs Support costs are those functions that assist the work of the charity but do not directly undertake charttable actiwties. Costs are allocated to functional he•Jings on the basis of direct costs plus overheads on a fair and reasonable estimated bags. Govemance Support costs rusteeslmeeting costs Independent Examination Salaries and relaled costs Office costs Accounting Subscriptions Property costs Professional fees 32 20 676 80 173 133 25 431 2.026 2,734 Investments Investments are induded at market vaue.. Leased Assets Payments made under operating leases are charged to income and expenditure account on a straight-line basis over the lease term. Contributions to Pension Funds The pension costs charged repent the amounts of contriixrtions payable to the scheme in respect of the accounting period. Tangible Fixed Assets and Depreciation Deprecialion is calculated to write down the cost of all tangle ffixed assets by instalments over the expected useful lives. The directors have set a materialty lever of £5k per individual item under which no purchase will be capitalised. Specthc policies a as follows Compulers and short life assets 2- 3 years straight method Lory life assets 5 - 10years straight line method At present the charity has no fixed assets. VAT CVS is partially registered for VAT, which is chargeable on rtain direct servi. Income and expenditu relab'ng to the services are shown exclusive of VAT. Illhere irrecoverable VAT applies expenditure is shown at athial cost.
Page 12 COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON & COUNTY IACompanyLimitedbyGuarantee) PRINCIPAL ACCOUNTING POLICIES Fund Accounting Funds held by the charity are either. Unrestricted General Funds - these are funds that can be used in accordance with the charitable obj'ects at the discretion of the Executive CnMittee. Designated Funds- these are funds set aside by the Executive Committee out of unrestricted funds for specific future purposes or projects. Restricted Funds - these are funds that only be used for particular restricted purposes within the objects of the charity. Restn'ctions arise when specified by the donor or when funds are raised for particular restrided wrposes. Further explanabons of the nature and wrpose of each fund is inclLKled in the notes to the financial statements. ReseNes Reserves a needed to bridge the gap between the spending and receiving of income. Direct suppjrt provided to the sector is invoiced on a time basis after completion. The trustees consider the ideal level to be between 3 - 6 months running costs to ensure adequate cash flow. Based on 2022- 23 figures for 6 months. this would te £41.083. Financial Instruments Cash and cash equivalents in the balance sheet comprise cash at banks and in har)d and short tem deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and re1vable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. Financial liabilrties and equity instruments are classffied according to the substance of the contractual arrangements entered into. equty instrument is any contract that ewdences a residual interest in the assets of the entity after deducting all of its financial liabiliiies. Where the contractual 019ationS of financial instruments {in¢luding share capital) are equivalent to a similar debt instrurnent, those financial instruments are classed as financial liabilities. Financial lia"l1t1eS are presented as such in the balan sheet. Finan costs and gains or losses relating to finanual liabilities are included in the profit and loss accounl. Finan costs are calculated so as to woduo a consL3nt rate of return on the outstanding liability- Where the contractual temis of share capital do Th)t have any terms meeting the definition of a financial liability then this is classed as an equty instrument. Dividends and distn'butions relats'ng to equity instruments are debited direct to equity.
. COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY IA Company Limit¢d by Gualantsel STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST PAARCH 2023 Pag¢ 13 2023 2022 Incom• from: Donation & legacies Charilable actiwties Inveslrnent income Total Income 1,000 73,013 952 74.96S 73,013 952 74.965 74,014 83 77.361 Expendire on: Raising funds Charrtable Activibes Total •xpÈnditu 82,167 82,167 82,167 82,167 64,226 64.226 Net gainsnosses on investnts 45 45 14 Nèt ineom¢lltMpendltur•l (7.15n (7,1sn 13,149 Transfer fwids Net 0ments In lundB (7,157) (7.15n 13,149 Rtrconclliation of funds-. Total funds brought forward 18.479 18,479 5,330 Total fund$ ¢airied forward 11.322 All incmie and expenditure derive from uYth"nUg a¢b"vthe$. The statement of financial aclivtts.es 1$ incrKporating the income and ex4Jenditure accounts and indudes all 9ains and lo&ses recognised during the year CVS Comlunty FM81
COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY IA C¢)rnpany Limited by Guarante•l STATEMENT OF FINANCIAL POSITION AS AT 31ST IMRCH 2023 Pag• 14 cnnY Numb•r.' 2902472 2023 2022 Fixed Assets Investments S,328 5,283 5.328 5.283 CurrefttAgsets Debtors Cash at Ba and in Hand 13.521 6,1CKJ 19.621 10,279 19.491 29,770 Cr•ditorn - Amounts lalling due within one y•ar (8,771) 18,9561 Nel current ass•tsllliabiliii•sl 10,850 20.814 Provision for lia.1111¢S (4,856) (7.618) Net a$ts1(lIabIl1f1o$j Charity Funds: Unrestrictedl designated réstr¥es Restn"ct•d.. CVS Projects 11 12 11.322 18.479 11.322 Analysls of Funds H•ld Balan¢e of Funds 18,479 18.479 11,322 The ¢harilable company is entitled to exemptKYb from wjrt under S•th"on 477 olthe Companies Act 2L6 lor the year ended 31 March 2023. The members have not required the dritable corrrfmny to obtain an audit of its ffinanrial statements for the year ended 31 March 2023 in accor(lance th Seth"on 478 of the Companies Act 2(M)6 The trustee5 acknovAedge SpOnsibl1$ f lal ensuring that the charitats4e company keeps accntIng recr¢ that compty Seclton$ 386 aThJ 387 of th Companies Act 20Cfj and Ibl weparing financial stalemenls which we a true arKI lairmew ofthe stale of affairs ofthe charitable company as al the end of each financial year and of its suwus or defiGit for eath finanGr¥l year in OrdanCe wth the requirements of Sections 394 and 39S and %thich 01hsSe cc*nply with Ihe requiTeffths of tlw CLMmpani•$ Act 2006 relating to financial statements, so far as appliCae to the charitable company. These finanoal statements have been pred in awd8n¢e vAlh the $rwal promisths of part 1S of the Companies Acl 2(Th relating to charitable small companies. The financial statements were apkxo¥ed by Ihe Execulive Committee on 12th December 2023. and Slgned on their behalf by.. Robert Goulboume Dlrectorlchalr The notes on page 15 to page 21 fomi part of these ffirrl statements.
' COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMEP Pag• 15 1 Incom• frorn donati*)ns and legacies: 2023 2022 Unr8Slrict•d R•stri¢ted Funds Funds Funds Funds Donations, le9acies & similar irming ces(reeS 3,264 2 Charltable activil•es: 2023 Unrestrlcted Restrfcted Fvnds Funds 2022 Funds Funds Fees. rent and hire incorne SutwJrie$ and other income 73.013 74,014 74.014 3 Investment income: 2023 2022 Diwdends TeceNable on (woted investments Intere51 recwvable 21 83 952 CVScrrfUrtrtY Firrdm? Ser
COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY IA Company Limited by Guarant••) NOTES TO THE FINANCIAL STATEMENTS Page 16 conlinued 4 Expendlture on charitabk aeti¥ib•s: Chaiitrb Total 2023 Total 2022 EmplJym8rit Costs Volunteers & olher eyr Office expenses Equipment r&m and 58.921 58.921 38,186 32 5,282 4.574 S.(1 533 5,107 5,109 Professtonal & FIrn¢111 costs Pramises tosts 2,026 10,368 118 10.486 11,860 n.924 3.243 82.167 64.226 4 Expendi? on ¢haril¥ble activiti Iconlbn4d} 2023 Staff Costs Dep'n ' Total Costs Charitable Activitie5 Governance Costs Support costs 58.921 20.CXJ3 78,924 699 82,167 $8,921 23,246 2022 Staff Costs Total Costs Charitable Activities Govemance Costs Support costs 38.186 22.875 2.734 431 26.040 61.061 2.734 431 64,226 38.186 Other cosls include Ilependent examiners fees of £1.580 (2o22..£1,2l aThJ rental agreement of£8.IXKJ {2022.' £8.0001. CV5 cornnty SBit
COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEIIIENTS Pag• 17 contin1 5 Tnmtees and Employe•s: 2023 2022 W•Je$ 8nd laries Pension defictt adjustwt Social sè¢urity costs Other pension ¢osts UnwirKling of pen$bx fft5ion 57.116 57,126 (20,400) 1.628 143 58.887 1.614 21 36.124 61 Travel The average number of employees by head count 4 {2022..4). On a fijlktime equivalenl basis, during the year was: 2023 2022 MaMI Activities and Communty Finance Team This exdude$ Volunteer help. Pension Scheme- CVS is a member of The PensiM$ Twust. and matrh employees. contribulion$ LV to 5% of gross salary. AI 30.09.2011 the Pension Trust had a trnial ¥alualion of the GruAI Plan revealed a d?rt of £147.6 million on a Technical Provisions basis. Because of this they have pul in a 10 year G0Very plan. Until that provision is reaGhed an employer wrthdrawing from the Stheme would incur a debt. In the case of CVS that has been e5tirnated as £31.443 al 30.09.22I£59.592 at 30.09.211. Hr¢•ver CVS has 2 acltve members ofthe Scheme and curTently the Trust8es Ikive no ten1m of Volunlarity withdrawng from the Scheme Ihus the lbi1Y doe$ not arise at this tiffle. Oyring the year £3,116 •Jdrfn8l payment has been made to re(luce thi5 liablty w the historical Pension Schem?. closed 2011. The addrtional deficit contributi¢)n required from CVS for the year from 1 2023 1$ £5.971, again this payment relates to the hisioric pension scheme. During the yeai the tnjstees re¢eived no remun¢rab"on 12022." £rMI). The to expenditwe reimlxlrsed lo Ihe trustees amounlgd to £nil. {2022".£32) No emoyee eamed in excess 01£60,(N)O durin9 Ihe year. Remuneration paid to DOrS in the year £nil. {2022:£nil)
COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY {A Company Lirnited by Guarant••l NOTes TO THE FINANCIAL STATEMENTS Pge 18 conlinued 6 Flx•d assets . Inv•stm•nts At Cost At Market Value 2023 2022 Cost orvaluation At 1 April 2022 UnrÈalised 9ainslOossesl on valuat Matured during the year Al 31 Mar¢h 2023 5.1(Kl 5.283 5,269 14 Itments ¢omprise: Quoled equitE5 Govemment t#)nd$ 1CM) 5.LKJO 5,100 283 5,CrfJO 5,283 5,328 Investments representing more than 5% of the tv1for value are: At 31.03.2023 At 31.03.22 National S8wng$ Bank 7 Debtorn.. 2023 2022 Trade debtor5 Prepayments HMRC- VAT 13,497 24 9.515 2B 736 10,279 13.521 8 Crèdltors: Amounts falllng due within on• y•ar 2023 2022 Other creditors Accruals HMRC - VAT payable {1.566) {1.3601 6.030 (1.6801 5,295 8,771 9 Provislms for liabilities 2023 2022 Prtiwsion at start ofFeriod Unwinding of the di$¢ount factor (Interest expense) DefKit contribution paid Impact of charoJes in assurnplK)ns Amendments to the contribution 5cheikJle Provision at erbJ of period (7.618) 1143) 2,775 137.456) 1216) 9.479 175 20,400 618 4.856 The provisiffi is the nÈt ent Ve of addrta1 contribub.ons payable to the The Pensions Tnjst Pension Scherne that arise from the def rècovery agreement and payable artty until Sèptember 2025. Th? rale ol discourrt used is 5.52%12022'. 2.35%)
' COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY IA Company Limited by Guarantml NOTES TO THE FINANCIAL STATEMENTS Page 19 10 Share ¢apital ¥nd members liability: The ¢panY 1$ limiled by guarantee aThJ does not have a share capital. In the event of the ¢ompany lg Aund up. every member. a memter and %sryihin one year of ceassng lo be a member, undertakes to contribute a Maxiff7 of £1 to meet the liabilities of the company. 11 Unrestrictedl Oesignated Funds: Of ihe unrestricted fvnd$ of the ¢omp8ny. 8 Cwtsin 8re de&"gnaied fvnds vthich have been sel aside by the Trustees for speufic purposes. 01.04.22 in 31.03.23 Value Desigrthd.. Corby VCS Designated Funds.. General RÈseNe 7( 17.779 17CQ) 7.202 7.202 11,322 11,322 Designated funds held on behaff of Corby VCS from their donaty.on to CVS. to cover any building Glo$ure ¢05t$ at the end of March 2023. The building has been purchased by a develor to be demdished and febuild into flat$. Council for Voluntary serv Norlhamplon and County is currentty depeTrJent on eamiNJ income to sustain its activities.Eamèd in¢ome is somets.mes im10d after wort is completed.Tl Trustees have designated 8 general ieserve to enabL ¢urreM commit1rt to be met.The aim of the general reseNe is to generaie 6- 9 months runnin9 Costs. The designated reserves are reviewEd nalty. or more frequent if aForopro1e. Reserves are bjilt up from unreslrKted leamed incorr) wKorr. C¢mp•r•tive Unre¥trictsdlD•sign•ted Funds: Ilo¥wn•nt Trnnsfws In Yoar At 31.03.22 01.21 Inv•stmgnt Valuo D•$ignalil lunds.. Cory VCS Designated funds.. G8neral Reserve 7Crf) 12,435 700 17,779 5.330 14 14 CVS Communty Fhats
COUNCIL FOR VOLUNTARY SERvice NORTHAMPTON AND COUNTY IA Company Limited by Guarantee) NOTES TO THE FINANCiAL STATEMENTS Pa9e 20 contlnued 12 Restrlcted Funds- The InMe fund8 of the irude restricted fuThJs comprising the fol balae$ of donations arKI lo be held on trust to be aPpld for specthc wrwise5. Al Incomlng Outgolng Twan5fw5 111.IM.22 R¢sour¢os Resou¢$ in year In year Al 31.03.23 There are no restricted fund in 2023. Comparative Restrlcted Funds: At In¢ominy Outgoing Trnnslers 31.03.22 In year in year There are no tricted fund Mi 2022. 13 Analysls ol Net Ass•ts Bèt•en Fund#: Fund balances at 31 March 2023 are presented by.. Fund5 Total Tangitde fixed assets Investments Cyrnt assets Current liabilities Provisions for liablts"es Total 5.328 19,621 {8.7711 4.856 11.322 5.328 19,621 (8.771} 4.856 11.322 CVS Ccmnmity Fwnt*
. COUNCIL FOR VOLUNTARY SERVICE NORTHAMPTON AND COUNTY IA Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEPI)ENTS Pag• 21 continued comparati Analysis of N•t Assets between Funds: Fund balances at 31 March 2022 are represented by." Funds Total Proiects Tangit4e fixed assets Investments Current assets CUrnt liabilities Provisi¢)n for liabilities Totsl 5.283 29,770 {8.956) 7.618 18.479 5.283 29.770 (8,9561 ,618 18.479 14 Leasing Commltments: At 31 March 2023, the company had anrwal ccrfnmilrnents under non-carKelab operating le85es as set out below.. Land and 8uilding 2023 Operating leases vthich ewre in.. 2022 Less than 1 year Within 2 . 5 years After more than 5 yea15 15 Pension4: The company make$ ppnston cwtribukns on behaN OfCerta efflployees t0 Wau5 morw- purchase schemes administered in funds independent from the company. Tl¥s arrnted to £1,628 in the year {2022".1.6141. PayrYnts ar¥ made from LmrestwKted luN1s. There is a cornmitmenl to make an additional payment in 202Y2024 of £5,971. 16 UltimatÈ Cmtrdling Party: The company is under the Mate control of its Exe¢utNe ComrThttee. the m•mbefs of wthi¢h are shown at the front of these ffinanci?I ststements. 17 Funds held on half of Third Partiès: Funds hekj and administered on tseha of extemal tNganisatw)ns Ma payroll and accountancy semces amounted to £4.3 milln forthe year12022 £4.1mlllh). Al 01.0&22 At 31.03.23 In 103.135 4.329.394 4.334.19) 98.339 le Legal Form The charity is a private wnpany mItsd by tywanlee registewd in ENJknd and Wales. Its registered office and ¢haiity numter are shown on page 1. CVS CarrfflunitF1rl0 SoTh
Page 22 COUNCILFORVOLUNTARYSERVICE NORTHAMPTON & COUNTY {ACompanyLimrtedbyGuarantee) STAFF LIST TO 31 MARCH 2021 FINANCE Head of Payroll Services Payroll Ccpcoordinator IE & Principal Accountsnt Administrator Christine Andrews Elaine Brennan Brenda Peers-Ross Janice Care CLEANING SERVICES Cleaner Janice Mccartney