llntorA¢t IMPROVING UVES AND COMMUNrriES THROUGH LEARNING. LEISURE, SHARING AND SUPPORT 11ERACT CHELMSFORO UMITED Annual Report & Financial Statements For the year ended 31 March 2023 dmund Carr Ch(¢fi*r4d A¢¢•uB¢tsn¢S 146 New London Road Chelmsford Essex CM2 OAW IIIMIIM •ACIVcRI 21112123 COMPANIES HCiJSE Chelmsford THE NATIONAL LOTTERY ••'J COMMUNrrY FUND J City cour11 Essex Community Founédrion OntoFAct 01245 392053 mail@interact.org.uk InterAct Unil 63, Waterhouse Business Cent 2 Cromar Way Chelmsford Essex CMI 2QE www.interact.orE.uk InterActEssex @InterActEssex Reeistered Charity No. 1048631 A company Ilmited by guarantee in England and Wales No. 3087233
InterAct Annual Rwt- Year Ended 31 March 2023 CONTENTS Reference and administrative inforMatn Mission. Vision and Values Objectrves and Activlties Achievement5 and Perfomian Financial review 12 Future Plans 13 Stwclure, Governance and Managernent 13 Independent Examinerfs Report 15 Staternent of Financial Activities 16 Balance Sheet 17 Notes to the Financial Statements 19 Mak•ng a Olfference InterAct - 21,700+ 850+ hours provKiing opportunities to build social & life skills and In¢ase underslanding of mental health & person81 wellbeing parentslcarers, young people, volunteers and I professionals equipped with new skills 350+ leisure, leaming and sharing aclivities 4,300+ i xA860+ I children. young people & I families supported 22 Volunteers vkIe[l 63+ hours oftheir time hours respite from caring responsibilities
@ACE Ann1 Report- Year Ended 31 March 2023 The Trustees present theirAnnual Rewrt together with the financial statements of the charity for the year ended 31" March 2023. The Annual Report serves the purposes of both a Trustees, Report and a Directors. Report under company law. Thelinancial statements comply with the charit Art 2011. the CoMpanACt 26, the Memorandum ènd Artitles of Association, the Statement of Recommended Practice ISORPI applicable to charitie5 preparing their accounts in actordance with the Financial Reportin6 Standard applicable in the UK and Republtc of Ireland IFR5 1021. REFERENCE AND ADMINisfRATIVE INFORMATION Charity Name: InterAd Chelmsford Limited Charity Reglstration No: 1048631 Company Registration No= 3087233 Registered and Principal Office: Unit 63 Waterhouse Business Centre. 2 Cromar Way, Chelmsford. CMI 2QE Trustees and Directovs Jenny McLean Debbie Knight Heather Moore Mark Hagon Caroline Clements lèppointed 21 April 20221 Matthew Eaves (appointed 29 September 20221 John Tweddell (resigned 6 April 20221 Lisa Mathew5 Iresigned 21 October 20221 Chlef Executl¥e: Svsie Nankivell lapKx)inted 31 May 20221 Anita Goldsmith Iresigned 31 May 20221 Patrons: Lord Petre Lady Patricia Stewart M8E BA Arch (Londl RIBA FRS Dave Monk LL.B MSC Etholle George Independent Examlners Edmund Carr LLP, 146 New London R¢)ad, Chelmsford, E$5ex CM2 OAW Bankers CAF Bank Ltd, Kings Hill, West Mallin& Kent ME19 4TA
InterAct Annual Rwt- Year Ended 31 March 2023 MISSION, VISION AND VALUES MISSION: Impvoving Uves and COMM•tieS through Leamin& Leisure, Sharing and Support Our mI10n champions people to have increased choice to make informed decisions about their lives, empowerinB them to fully participate in their community and ciety. and to reach their fvll potential. We support people to actively participate in their communities and lead fulfilling lives. To be able to do more. and need le5S SUPPOrt - with a common theme of helpin6 others to help ihemsefve5. V1510N: CommuDlties in whi¢h ourinterdepen(lence is valued, and where we work together to include the excluded and to create a fair world To achleve our Vision we: Actively promote personal and social development. choice, inclusion and opportunity through providing a range of high-quality, person-centred community services and training Support people io build better lives- touraging empowem7ent and resilience, increasing confidence, reducing isolation and loneliness. focusing on indwidual needs and strivingto achieve long-term sustainable change Help vulnerable people be inlormed throu8h support services. community training. brokerage and si8npostin8 Through the provision of these seICe$. we seek to make a demonstrable contribUtn to the INes and wellbeing of children, young people, adults and communities. Our Values underpln all ih* we dty. Inspiri- we are creative, encouraging and ambliu$ Non-distriminatory- we respect ènd embrace the dwerstty of the communities in which we work Trustworthy- we develop trust and strNe for people to fulfil their potential Empowering- we help people to help themselves ReSponsi- we meet the changing needs of people and communities Accountable- we base our work on the needs of the people we support Cornmltment- we are Committed to providing quality. person<entred services Toðer- we work in partnership wrth people and with other organisations to SUPPOrt people to make significant changes in their live5 InterAct is committed to safeguarding and promoting the welfare of Children. Young People and Vulnerable Adults and expects all staff and volunteers to share this commitment. All p05t holders are Subject to a Satisfactory enhanced Disclosure and Barring Servrce check. 08JEUIVES ANO ACTivmES InterAct exists to support disabled and disathantaged adults. children, families, parents, carer5 and young people. and works with organisations. individuals and communities who support thern. Our overall aim is to inform, support and emwwer peOe to increase their independence, choice and control, and to realise their aspiration5 and plav full part in society. The objects of the charity- The advancement of education and training for employment partKularty amongst a¢Jults and young people with physical or leaming disabilities, those who have or are recovering from mental health problems and the lon8-term unemployed The relief of sufferin& provision of support and tackling of issues of social exclusion by the provision of servtces, including promotin8 inclusion. health and wellbein& counsellin& advice. mentoring and befriendin& and advocacy The relief of poverty
Annual Repwt- Year Ended 31 Mah 2023 To achieve these aims InterAct has strurtured its seNice delr¥ery around four core areas of work: Children, Young People & Family Emotional Mental Health & Wellbeing Connected Communities Consultancy & Training Working within these areas InlerArt provides a range of safe. htgh quality, person-centfed integrated seryices and opportunities.. Social and leisure opportunities Leaming opportunities Training opportunities Volunteering and peer support opportunit5 Information, advice and support. and signpostiryd Stakeholder participation and involvement Thematic areas indude- Special Educational Needs and Disabilty Health and Wellbeing Family Resilience Transition Planning ducation and Employment Community Buildin& Connectin8 and Participation Personal and Social Development Professional Development PUBUC BENEFIT We have referred to the Charity Commission's guidance on public benefit when planning our activities. The CharItS achievements and performance illustrate how the mission and vision have been pursued to derive public benefit. CONTExr SEND provision issues in Essex: SEND (Special Educational Needs and Disabililiesl provision issues can encompass a range of thallenges related to the support and services provided to children and young people with special educational needs and disabilitie5. These can vary but may include-
IntsrAct Annual Rwt- Yr Ended 31 March 2023 , Issue knpa¢ts eni In Essex La¢lr Qf fvndlng Slaff sh¢)rtag M•nt•l h1th Shortap of Special staff. Msouw arml oljw support ser¥i¢es La( oltaiowod supptyl (e.g. s8¢h & languw, rx¢wtional tlw} , Trnn¥ilion ¥pport 8aTfi•r5 to I110Th '" LadLol•Jptg of n¥iweam by (ihlren vlilh SEND Excess domwnd tap ', Legal di5PUtes, rfO10nS ofchildren & A(X 21114 nol met TTrnsPOrt h$u•$ I Poor att4ndarA ¥rxYor parllcipatyon kn educati Late as8essm•nl dweh)pmenl for affected dTn Pargntsl engag•m•nt ,. Lxk oi c4iordinalw)n b•t¥Mn sd¥1 l extr&curriAl¥and hom• Irf• Addressin8 these issues requires collaboratn between local autIrItIes. schools. parents and support organisations as well as ongoing evaluation and adjustment to policies and prattices. Advocaty, increased fundin8 and a commitment to indusive education practices are also key success factors for Essex. Current {U¢S with mental health support in Emex: Similarly, these issues affect our work in supporting mental health in Essex.- Issue Impacts Exignt in Essex La¢k •f fvDdln• Slwjrtaw of r•sourc8s or 51aff caus• kng WAfitimeg for Ie sèeking hglp IJn¢1•I•d l Fra9mPrted l thj¢Mnted GBre ft>r indr¥vJua15Tilh rxxiwkn phyxal lrnentall 50¢ial ne•h Lack olstaft Lack of cr1510 car• ' W In ¢ths larrvJ uryrt help11 Lack of spe¢l•llsts ¢wIra1 eomp•t•ny Potentlally ser¥ices l) areas 4h a olaAbJrg & bxkwtyJnds Ina¢¢urat• data
InterAct Annual Report- Year Ended 31 March 2023 IERAcr ACHIEVEMEpifs AND PERFORMANCE This year we have been able to deliver a full and varied programme of pro¥isK)n for youn8 people. families and individuals who were all able to take advanta8e of our wide range of yoirth clubs, holiday activities and trainin8 course5/workshop5. Impact 2022- 23: We supported over 850 children, young people. familtes, and members of the local community to aspire and achieve Iheir aspirations, increase their cholos and in(lependence and improve their emotional, mental health and wellbeing. This work was supported by more than 22 indrrfiduats contributing in excess of 63 volunteer hours. In total we provided 21,7(X)+ hours of opportunities to build social & life skills and intaSe undetstanding of mental health & personal wellbeing. Achievements 4 Successfully secured the Essex Short Breaks clubs and ActNities contracl as part of a collaboration of seven other providers: "SEND Sensation" 4 Identrfied and secured funding to delrler Mental Health. Resilience and suicide prevention trainin8 Retained a committed paid and volunleerworkforce Awarded the Mindful Employer Charter for Employers Positive About Mental Heafth Relocation: The primary obSertlves of this loCatIon We to move to a rnore suitable venue and to become more independent - whilst minimi5in8 disruptwjn to service delNery. Folk)wine the extension of interim contracts for CEO and Young People Team Project Manager. these objertbves have been largely achieved and w411 be completed in the coming months. In the past year the InterAct team has successfulty settled into new pMiseS at the W*erhouse Buslness Centre, adapting to new processe5 and other changes and si8nifTrcantly bmproving our back-offi operations. The Waterhouse Busine55 Centre makes our team feel very welcome. while accountants Edmund Carr now provide bookkeeping and payroll services. The team has also been trialling a new accounting system Ixerol and new payroll system IBrightPayl, both of which offer signrficant process improvements. We have also established a new contract for reliable, comprehensNe and costoffertive IT supwt. Resources are unchanged, wrth services still in- house. The decisions to engage external providers for financial and IT support will both be reviewed at the end of thls flnancial year, but both have so far proven cost-efferti¥e. effitieni and reliable. Key contracts and service5: InterA£t Y¢)un Peo Our dedicaled team of #aff and volunteers provides an opportunrty lor chbldren and young people to develop vital life skills in or(Jerto identify 8oals and aspirations and to maximrse their life chances . all whilst enjoying the chance to make friends and enjoy new experiences. During the year our group activilies and clubs included- • Term-time. communsty-based artpilts Youth and after-school clubs School holiday activities and day trips ifvernight triPS
InterAct Annual Rem- Yr Ended 31 March 2023 Essex Short Breaks Clubs & Activities {ESBCAI AitivAte Holiday programme Together Club Teim time & holiday Ktivitses fol young people aged 8-18 with Learnlns dlffi¢ultles. Autlyn and Spe¢ial Educational Needs & Disabllltles ISENDI Holiday arti¥itses lor youn8 people WI are in reteipt of benefit-based free sthool mea Supporting young people appmachlng adulthood lated 19+1 Although this collaboration has made progress in implementin8 the ESBCA contract, we are still experiencing signrficant challenges. We continue to negotiate the finer details of the contract including the registration, bookin8 and payment Systems and pressure to adapt our services to meet the emerging needs of the collaborative service provision- without losing sight of our own vision and style of service provision. We are of course committed to consolidatin8 this seThice successfully acr055 Mid & North Essex for all young people. regardless of age. need and locatlon. We have now delivered the AciivAte holiday activitie5 durin8 the Easter and Summer periods successfully and are all set to continue provision during the Christmas break. We also expect to re1ve further funding to provide the ser¥ice in the Autumn half term, although this is not a legal requirement for the local government. The majority of the places we allocated for young people were taken up in both holiday periods and the service continues to introduce our services to faMilS who previously had not used our services. Following a teMrary reduction in attendance, we plan to increase numbers again by deliverin another food education programme, fundin8 for which we have once again been awarded. We are still ambitious to replicate this group in Colchester & Clacton and have submitted a number of funding bids accordingly which are Still awaiting decisions. Emotional Mental Health and Wellbei ser¥i¢es: Our broad range of resilience courses, and nationally recognised Mental Health First Ard IMHFAI training promote positive mental health. These inspire and enable people- many of whorn have experienced difficult lrfe cirtumstances. anxiety. or stress- to cope with life's challenges and take control of their future direction. EwJ¢ Le•mln8 Parlnershlp Fund IELPF) In this quarter we have tompleted the delivery of the 2022-23 contract delNerin8 a cornbinatn of Mental Health First Aid IMHFAI training and Resilience courses. Final reports are being submitted but we aim to meet targets in order to secure full payment. It is still not clear as to the focus of the new contract for 2023- 24 procured by ELPF and whether it would be appropriate for InterAct. Attordin8 to dtscussions, the commissioners hope that the National Government will make an annOUnrnent in Autumn 2023. -Hyper L¢xaf Colchester Calaly5t Fund ISul¢lde Post¥ention & Prevention Workshap5) We have submitted another bid for an equivalent contract to this year lo be delivered in 2023- 2024 rf successful. Fee-Payin8 Train•n8 We continue to promote our training services to attrart fvrther uptake. Funding The contract with an external fundraising sen4ice has achieved varying degrees of SUC$5. Going forward we will be independentty identifying potential fvnds and bidding a5 appropriate. These will, rf successful, provide InterArt with a source of furtherfunding for a wider range of services.
InterAct Annual Report- Y&r Ended 31 March 2023 Volunteering The pandemic understandabty led to a Signift decrease in the number of volunteers engIng with InterAct. However. we are gradually attrarting new volunteers. primarily as youth workers and admini51rators. Partlclpatlon Our programme of activities and leaming opportunities allows all those who engage with wr servKes to offer suggestions for positive developments and constructive criticism. This influences our decisions and services, for example via- Contributing to the content and development of InterAcVs young people's actNity progrimme O Feedback to funders to endorse the posrtive impact achieved by our servKes Providing evidence to support applications for further funding Participating in consultatn events aboul the experiences of young people with special educational needs and disabilitres both locally. and nationally Partnershlps InterAcVs focus on building partnerships allows ihe organisation to add value to our services. contribute to the development of stronger links to the wider community and collectNety achieve a greater impact. We continue to work c105ety with Essex County Counol and a range of mutti-agency professionals acr055 education. health, social care and the voluntary sector to provide coordinated support for families and to utilise our joint skills and resources- adding value and maximFsing opportunities for collal)oration. Partner Joint Acti11¢$ Essex Council for Voluntsry Youth Servlce5 {ECVYSI As joint Mefflbe of Mid4ssex Cluster Group, we support youth voice consultatK)ns: one staff member serves a5 ECVYS Treasurerlrrustee C¢un<il for Disabled Children (CDC) Linking with specialist networks we engage in opportunriies to increase the partKipation. voKe and autonomy of young peop with disabilities Essex Youth Servkes We share purpose-bJiM youth premises We support families and young people in financial difficulty to access the full range of our services We have joined a collaboration of seven service providers who have Successful bid to deliver the Essex Short Breaks Clubs and ALtivitie5 Contract Acllve Ew¥ SEND Sensatlon
Annual Rewt- Year Ended 31 March 2023 HOW INTEIIAcf MAKES A DIFFERENCE The regular feedback we receive from the children. yourY8 people. famil5 and individuals we 5UPPOrt indicates the quality and value of the actNities and services we offer. Feedbock romo un rson.. Feedbock rom ren cur$.. i) QV Feedbock romo Two yeurs ogo we reported on Sommy. who hod been ottending InterAcfs club and urtivitie5for three yeors. Hoving initiolly struggled to listen ¢7nd tolollow instnKtions. he hod developed enough independence ond self-monogement to eventuolfy porticipote without o one-tTrone corer- ond hod become an ortive ond populor member of the club. Todoy we ore delightedto report thotsofnmyhos continued to enioyoll oAlnterArfs many orti¥ities-from Clip n Climb to cooking. Arorn holidoy outings to evening wt71ks. In $0 doing he hos developed his confidence, communict7tion and other life skills to the point where he hos been oble tofind work- os both greenkeeper ond with o corpentry group! In addition, he has won o ploce ot ChelmsAord College. As InterAcVs mission is to help people make positive pmgress ond to live happy ondfulfilling lives. Sommrfs experience is a greot example of whot we do. 4iu 10
Unt@rhct Annual Report- Year Ended 31 March 2023 Sammy s mother, Jo, commented.. -one olour goo15for Sommy hos been to see if he mightultimately join the workforce- doing meaningful work thot wouldolso odd meaning to his own life. Thanks to the wonderful team ot InterAct, he hos developedfor13eyond our expertotions. ond is now working in two different roles. Not only thot, he is going to leorn more skills ot Chelmsford Collegefrom September. We reolly con't thonk the staff and the or9onisation ot InterAct enou9h- they hove been obsolutelyfvnt05ticl~ Feedbuck on the Mentol Health FirstAidcourse.' °Who will benefitfrom the informotion you hove goinedfrom this coursey Iword-cloud shows more frequently cited responses in larger fonts) -PEOPLE IN CENERAL olleagues /STUDENTS & YOUNC PEOPLE Client Mys Feedbo k on the Pre- ond Postvention course.. "Whot will you do differenttylollowing this workshop. 8e klnder to myself Re-look ot the chority heolth + wellbeing progromme Check-irt on motes Encourage those wirh suicidol thoughts to tolk- rGther than ovoid the subject Ask twice ifsomeone is okoy Stop otting withfeelings ondemotions thot ore ounter- produrtive Alwoys remember thotpeople ore suAferirtg 0 loss 8e reody to talk aboutsuldde Discuss more with colleogues & shore the leorning. Shore -Help is ot ht7nd~ booklets ond notices Sign-post re50urcesfvrp05t-bereovement Ask different questions & use different longuoge Supportfamilies ofter the sod event Tolk more openly about my o¥vnAeelings Think obout/refrume the lunguage l use in the contextolsuicide 8e more mindful Hove o broader understonding of the ripple ejftct [* more reoding Urom suggestions todoyj Toke time to evoluate
llurterhct Annual Report- Year Ended 31 March 2023 22 HNANCIAL REVIEW Results of the year to 31 Marth 2023 are set out in the statement of financial activities. These show a £49k r15e In income from donailons and yants (almost doubling to £IOlkl which helped to raise totsl ItKome to £3rn1£319k in 20211221. The chan8e in income was matched by a £56k increase in expendftu on tharitsble 1¥71 to £366k. There was also a £I6$a¥7 (on the cost of raisiftg fundsl- in line wrth tyJrs¢ated goal of reducin8 costs where possible). which turned last yearfs deficit of £17k into an operntln8 Surplus of ovèr £lk. The Balance Sheet is lar8ely unthanged from prior year. with £410k In totsl frd$ of whith £303k are unrestricted lincluding £118k de5i8nated to the Development Fundl and £107k are restricted. That represents a net £20k shiftfrom uniestritted to restrirteo funds compared to prior year. InterAct is tlependent on a wde range of funding sources induding grnnt making trusts. statutory a8encies and community fundraising. We are indebted to all the in¢Siwduals, familie5 and oanisatIonS in the voluntary. social enterprise. statutory, and ommercial sector for their continued support of the Charirfs work. Thank you tg everyone who has giveii their time and support to InterArt withoutwhich we could not sustain our services. Included amongst our don(x5 are.. Stonebond. MARKS& sPENR COMMUNITY Essex Community Foundation EALC appy oundafion, ¢. neighbourly FOVNOA71ON Communlty Fund The Bally Thomas Essex Youth Trust Charitable Fund 1r TheMonlvqeSumlly 5he•fvldPomchJolChwch Organisations we have worked wilh to imwove mental health in the workplace and in Communities indude.. Barnardo's- Basildon Parents 4 Parents- Braintree Districi Counul- Brentwood Di£ese- Castle Point CVS-Chelmsfofd CVS- Chelmsford Diocese- Citizens Advice Essex- Q>lchester Korban ProJert- Community 360- Essex County Council - E55ex Fire & Rescue- Extra Support fof Families- First Site- First Stop- Futures in Mind- Home Stsrt Essex- Hope House- Ideas Hub- Kintsu8i Hope- Maldon & District CVS- MHFA En8land- papw1h Trust- Provide- Royal Deaf Association- Southend-on-sea Borough Council- Swan Housin8Association-Tendrin8 Distrirt CwncFI- Tendring Distritt Primary khools- West Essex CCG Rèsems Polory The policy of the or8anisation continue5 to be a commitment to buikl upon unrestricted fvnds and maintain an appropriate level ol reseryes to safeguard the Charitvs attivities in the event of a signifitant shortfall in fundin& thus allowing us time to consider how funding could be replaced. artivities changed. orto mana8e a wind down of activities. Additionally. we have a commitment and a respgnsibility to act responsibly to our employees and to PrOe assurance to our p¥tners. The reseryes policy also provsdes for desi8nated funds, which the Trustees Continual rewew. Ha¥ing revièwed the CharlS requirements for rÈser¥e and given due consideration to the risks and opportunities. the Twstees believe that unrestricted funds should be a minimum of six months. operating costs. With totsl expenditure this year of £375k. current unrestricted funds of £303k represent a healthy 9 rnonths ol operailrf tosts. Resèrves requirements are reviewed and updated monthly. and evaluata byTrustees at our quarterly Trustee meetings. The 5trate8y is to ¢ontinue to build unrestricted reserves thro planned Operati surplu5e5 where possible. 12
rtorAct Annual Repwt- Year Ended 31 Marth 2023 Pensions A provision for deficit Contributions to the InterAct pension 5drne is included within the accounts. Thè net present value of all future experted defiot ¢ontributions as at the year*nd amounted to £851. 5tmenl Poll¢v . Any surplus cash flow Is moved from our Current Kcount into an interest bearing deposit ac¢tsunL maximising retum. and minimi5ing any risk. Pay Pollcy lof Senknr Staff The Charivs pay strate8y Is a8reed by the Board of Trustees. indudin8 the remuneration of key fflana8ement personnel, and is reviewed annu311v. PLANS FOR THE FUTURE Deliverin8 safe, responsbve. high quality. person-centred services continues to lie at the heart of our or8anisational strategy. Evidence shows that the number of young people with arnIng disabilities is expected to in(ase. Allied to thbs the number ol people expeiiencin8 poor mental health continues to grow. We will continue to focus on consolidating and strengihening our organisation to ensure we are well placed to meet identified needs. Contlnuing to build links with local OrganlI0n5 and businesses Devek)ping use of technology Growin8 and adapting our services to meet identid need Improving monitoring and evaluation PreseNing the high quality Servi and training we currently offer Reviewing and impro¥in8 polioes. procedures and management controls Diversifying our income Reviewing our strategy to ensure it 15 relevant and sustainable sThucruRE GOVERNANCE AND MANAGEMENT Govemin8 Document InterArt is a company limiled by guarantee. We were formed in 1992. and became a registered charity on the 12th August 1995. InterAct is regiSted as 8 charity with the Charity Commission for England and Wale5, and is governed by its Memorandum and Articles of Association. The director5 of the company are also charity Trustees for the purposes of charity law. Trustees are appointed by the Board of Trustees. in accordance WTth the Charity's governing document. In the event of the charitable company being wound up the liability of each member is limited to maximum of£lO. Appointment ol Trustees The Trustees seek to build a 8oard with a drverse range of skilb, experience and outlcK)ks needed to provide effective direction and oversight. who can add new dimensions and fresh ins¥hts to our work. Tru5tee5 repsent rnembers of the community who can support and influence the objectNes of the charity. Trustees are recruited as and when required through a variety of routes including word of mouih. promotion via newsletters. bcal community voluntary servi5 and other networks. Trustees come from all walks of lrfe brirbging with them experience of the commercial sector. disability. education, safeguardin& social ca, finance, marketin& personnel, social media and the voluntary sector. Regular skills audits a conducted to guide the recruitment of new Trustees. prpeCtIve Trustees are invited to meet with the Chair of Trustee5 and the Chief ExecutNe to discuss the responsibilities of being a Trustee and what they can bring to the organisation. Successful applicants are then invited to meet the Board, and proposed for elertion. All Trustees are subject to a satisfartory Disclosure and Barring Service theck and give thelr time voluntarily. Inductlon and tralnln8 Trustees are provided with an induction pack which includes details of their govemance re5pon5ibilrties and legal obligations, an overview of the operation of the charty. theTru5tee decision-makin8 process. Strategic 1Ction. key
InterAct Annual Report- Year Ended 31 Mah 2023 risks. cent financial perfomiance and further rnforn7ation drawn from Charity CommlssKin publicatitins. The induction process abo includes the opportunity to meet Staff and visit operational activities. Or8anlsatlonal structure InterAct's Board of Trustees meets quarterty and are responsible for the strategic direction and policies of the charity. Sub-committees are formed as required and all report to the Board of Trustee5. To facilitate effective operat*)ns the day-to-day management of the charity 15 delegated to the Chief Executrve, who reports to the Board of Trustees, and to the Senior Management Team1SMTI who have lead areas of responsibility across the Qrganisation and report to the Chief Executive. No employee received remuneration of More than £60,1I)O durin8 the year. Related parties None of our Trustees recerve remuneration or other benefrt from their work with the charity. In the Current year there are no related party transactions to be reported, other than the donation from InterA¢t Projerts Limited. Risk Management The Trustees in consultation with ihe Senior Management Team have a risk manaBement strateby which identifies and assesses risks, prioritises them in temis of wtential impact and likelihood of occurrence, and identifies controls to mttigate those risks. Trustees re8ulady review the ri5k5 to which the charrty could be exposed. particularly those related to the operations and finances of the charity. Trustees are satisfied that the charty has taken all reasonable steps to minimise rlsk, and has policies and procedures in place lo mr¢igate exposure to the major risks. Risk management processes are subject to periodic Vw- and prioritte5 adjusted as new risks arise and others become s$ signrficant. The challenging fundinB climate continues to highlight the need to maintain è tight control on expenditu and to have plans in place to reduce expenditure should the need arise. Approved by the Board of Trustees and si8ned on its behalf by: D Knight D Knight Trustee 14
IDterAct Chelm25ford IAmited Independent Examintr's Report to the trustees of IDterAct Chelmsford Limited ('the CompaDy') I report to the charitable company rnjsitts on my examinalion of the accounls of thc company for the year ¢nd¢d 31 March 2023 which are sa out on pa8es 16 to 33. R¢$ponslbllldt$ atyd ba$is of report As the charity trUCeS ofthe company (and also its dir01$ for th¢ putposes ofcompany law) you are rc5p¢Jn5ible for the preparation of Ihe a¢¢ounts itt ac£orda#ce with ihe rtquirtmenis of ihe Companie5 Aa 2Crt)6 ('the 2006 Aci,). Having satisfied myself thai ihe accounts of the ¢omp)ny are r¢quid io b¢ audit¢d under Part 16 ofthe 2006 A¢¢ and are eligible for irtdependeni examination. I report in respect of my examination ofyouT company's a¢¢ounlS as carried out under stciion 145 of the Charities Aa 2011 (-"Ihe 201 l Act.). In urying out my examinat20n I have followed the Directions given by the Charity Commission under 110 145(5Xb) of the 2011 Act. lttdtpt#dtht txmiDer's st#ttme•t Since thc company'5 gross in¢ome ex¢¢ed¢d £250,(KK) your examirter M$1 be a meMr of a body listed in section 145 of ihe 2011 A¢i. l ¢onfinn thai l am gualified io underthke ihe cxaminaiion because l arn a member of The As%)ciation of Chartered Certified Accountsnls. whi¢h is one ofthe list bodies. I have eompldtd my examinatiot). I confjnn no mallers have come to my attention in ¢Onn¢C¢ion with the examination giving me cause io believe.. accounting records re noi keo in r¢sp¢¢L of the Company &s req¥iTed by seciÉon 386 of the 2006 Act,. or 2. th¢ a¢¢out)ts do not accord with ihose records: or 3. the accounts do noi comply wih ihe x¢ounling Tequirements of se¢tion 396 of th¢ 2006 Aa other ihan any quirement that the a¢¢ouniS give a 'trne and fair view. which is a maner considered as part of an indeFndent examinaiioft. or 4. (he accounts have noi been prepared in a¢¢ordaDce ivtth the methods and principle5 01 Ihe Statemenl of Recommethd¢d Pra¢¢i¢¢ for ¥¢ouniin8 and reJx)rtin8 by chariiies applicablc 10 charilie5 pf¢paTing th¢ir accounts in accordance with thc Financial Reporting Stsndard appliuble in th¢ UK and Republic of Ireland {FRS 102). I have no concerns and have come acTOS5 no other matters in ronnliOn with the ex)nJination io whi¢h aneniion should be drdiTrm in ihi5 report in ordcrto enable a proper understandirjg of the io be reached. S A Morrell Sandra Morrell FCCA 146 New London Road Chclrnsford Essex CM2 OAW d: 19 Detémter 2023 PaR¢ 15
IMterA¢¢ Chelmsford Limited Stat¢m¢DI of FiDath¢i#l A¢¢ivilies for the Year Ended 31 March 2023 n¢lnding ltt¢ome and Expenditsre Account Other Comprehensive Income) Tot41 2023 TotAI 2022 Rtstritted N•te gDd EDdowments from: Donaiions and Brants ChaTi¢able a¢iivitie$ Other trading activities Invesimeni income 21 J24 80.406 261.913 10.096 IOJ.730 261.913 10.271 2,910 52,716 254.595 12,013 74 175 2.910 Total income 24.409 352.415 376 824 319,398 Exptnditun •D: Raising funds Charitable activiti¢$ 9.257 35,453 9,257 365.864 25.786 310,510 330,411 Total expcnditu 44.710 330.41 375.121 336.296 Net (¢xpendityrtYin¢om¢ {20,301) 22,(MM 1,703 (16,898 Net movemcN in funds (20,301) 22,(MM 1,703 116,898) Rrt•rteiliatio* of fuDds Total filnds brou8ht forward Total funds carried forward 323,253 85,070 408,323 425,221 19 302.952 107,074 410.026 408,323 All of the ¢h#ritable Company's activities dewyvc from n¢$nUIng opratIonS during the alN)vc two pcriod> P4e 16
InterArt Chelmsford Limited (Registration number: 3087233) Balante Shett as at 31 2023 2023 2022 Nott Fixed assets Investmenis 14 Curr¢DI a55ets Debt(>rs C&sh ai bank and in hand 15 16 19,148 416.557 10,307 449,870 435.705 460.177 Crnditors.. Atybwthts fallinz du¢ wilhitt oDt y¢r 17 {24,830) 50.521) Nel eurrent assets 410.875 409,656 Jyel ass¢ts ¢x¢ludlng p¢Dsion libillty 410.877 409,658 Pen$ion scheme liability 18 {851) {1.335 Net assets l¢lydthg pe•5iots l¥blllty 410,026 408.323 FuDd$ of the tharltable tOmPaDy: Restritttd intome fnd$ Restritied fvnd$ 19 107.073 85,070 Unrestrl¢ttd intomt tksign#i¢d futtds Unrestricted funds Pensiort resetve 17.608 186,196 851) 117,608 206.980 (1,335} Tothl unr¢strirl¢J fvt 302,953 323.253 Total fyknds 19 410,026 408,323 For the rjnancial year ending 31 March 2023 ihe chari¢able company was eniiiled io eMlOn from audit under seaion 477 of ihe Companies A¢t 2006 l811#g io small compaffiies. DIrlorS. responsibilitics= The m¢MrS have rhoi required the ¢haritsblc company io obtsin an audit of ILS accounts for ihe year in question in ¥¢ordOTt¢e with Srfiion 476", athd The direclors acknowlcdge Ihcir Tesp0Tr5ibililies for c(Hnplying with the requirement5 of the Act with re5]Kd 10 a¢counling records and ihe prepornlion of a¢count& Th¢se financial #*¢m¢n15 have been prepared in a¢¢othce with thr special provisions relating to tompanies subjeci to the small companies re8ime withirt Part 15 of Ihe Companies Ad 2006. Pag¢17
l•terAct Chelmsford Limited (Regislration mumber: 3087233) BalaDCt Sheet as gt 31 March 2023 1gtkThxmbir2023 The financial stsiemtnts on pa8¢s 10 33 w%re approv¢d by th¢ tnw¢e5, and authorised for issue on ............. ...... and signed on their behalfby: D Knight D Knight TnLsi¢e Poge 18
InteTArt Cbelmsford Limited Notes lo the FillaDcial Sttements for tht Yegr Ended 31 Mrch 2023 I Charitable t•wpny si#llls The chariiable company is limiied by giiarantee. in¢£rporated in England & Watts, and consequently does not have share ¢apiiaS. Each tsf the trneeS is liable to contrbbute an amount not ¢x¢ttding £10 toMrd$ the assets of ihe ¢h4ritsblc company in ik eveni of liquallOn. Swmrnary of 5igTrifKan¢ atrounling polities ¥nd X¢COUDtiDt estimates The princi[ o¢counling policies applsd in ihe preparaiion of these finamc1 Statements are sei out below. These policies have been corLsisient2y applied io all ihe years presenied. Otherwry stsied. Stgttmtnt of tomplia•¢e The fjnancial sthiemenis have been prepared in ac¢ordan¢¢ with A¢¢ountinK and Reponirtg by Charities: Statemet)I of Recomm¢r)d¢d Prdclicc appliuble io charities Preparing their ac¢ounts in accordance with the Fbnancial Reporiing Siartdard appli¢able in lh¢ UK and Republi¢ of Ireland (FRS 102) (eff¢c¢iv¢ l January 20191- {Chariit¢s SORP IFRS 102)), th¢ FIncIal Reponing Standard applicable in the UK and Republic of Irelattd IFRS 102). They also comply wilh the CompLeS Aci 2(X)6 and Chatities Aci 2011. Basis of prtpratlon InierAci Chelmsford Limited mth$ the defirtilion of a publi¢ IMfit entity und¢r FRS 102_ Asset$ and liabililies 3re inilially recognised at hyAoric ¢oM or iran5actioTh valuc unlcs5 oihemry5e slated in the relevant accouniing policy tes. The ITuses consider Ihai Ihert are no merial unrertainlies about the charitable compaDy's ability io ¢ontinue as o going concern nor any SignifinI areas of uncthainty affect the caThying value of assets held by the charitable company. Group ¥rtOllht$ pnpr¢d The charity ha$ thken advantage ofthc ¢xwption Prnvid by Section 139 of th¢ Charrli¢5 A¢t 2011 nol lo prepare group accounts.. All income is reeognised once the ¢h*itable comp¥ry Iws entitlement io th¢ ii)com¢, il is probable th¥1 th¢ income Ivill be received and thc amount of ihe incomt rcttivable can be me&sured reliabfy. Pa8t 19
InterA¢t Ch¢lmsford Limited Notes to the Fin8nctal Statements for the Ytar Ended 31 March 21123 Donations are rccognised when ihe charitsble company has b¢en nlfyed in WTiiing of both the amouni ar 5rNl¢tD¢nl date. In th¢ eveni ihai a donaiion 15 subject lo condilion5 thai rtquire a l¢v¢l of FKrforniance by the Chariiable company before the charitsble company is tniiiled to the funds. Ihe income is dtftrred and not rognised uniil either those conditions are fully m¢L or the fuifilment tsf those tondition5 15 wholly within the ¢Mtrol of the chariiable company and li is Probable ihat these tonditions will bt fulfilled in the rtwTrrtin8 period. Gr47nts recelvable Granls are recogni%d when the thaTithble company has an eniiilernenl to ihc hjnds and any condiiions linked to thc grnnis have been mei. Where rrfomian¢e ¢ondilion$ w¢ att•¢hed to the grant Jnd ar¢ yet io b¢ md, the income is recognised as 8 liability and included on ihe balance she as deferred irKome to be released. DelerreA7incon tkferred in¢om¢ rew¢sents amowjts received for firturc periods and is r¢leas¢d to irKoming resouT¢es irt th¢ period for which it ha5 been received. Such income is only deferred when the donor specifies thai the 2fdnr or donation fflU only be used in fviurt accolIng pEriod5 or ihe donor ha5 imposed Conditions which rnuA be mei before ihe charity has unconditional enttilement. EXndItTe EXp¢ndiiU is OgniSed on¢¢ there is a legal or ronstwudive obligation lo make a paymenl to a third party, il is probable ihai sciilemeni will be required and the am(¢ of the obli8aiion can be meawred nliably. Expenditu inrlud¢s any iwrecoverable VAT. R4tslh8f4ttds These are tosis incurred in attracting Yoluntary in¢om¢, the martagemeni of inv¢5tyn¢nt$ attd thi)se incuntd in trading artivitics rdise fund> Choriible 4alvld Charitabl¢ ¥livities irtlude expenditure a550Ciat¢d with tk running of programmcs and inrlude both ihe diretl Costs and support C05t5 relating to ihose aciiviiies. Support to$ts Supw>rt ¢OSts includ¢ managem1 aTrJ adminis¢rJtivr fiw¢iions athl hav¢ b¢¢n rccovtred from PTogrammes via an expenditu usage 0rhead. Support eosts are allocated b&sed upon ihc proportion. of the directly attributable exnditr¢. Covern8nee costs Governance co#s include ihose incurred in the gov¢man¢¢ of the charity and its wets and ¥e primarily associated Iviih ¢onsiilulional and si8(0ry Ttquiremen Pagc 20
InterAct ChelJDsford Limited Notes to the Fi•an¢ial StatemeDts for the Ytar Ended 31 March 2023 Covtrnment grADts Government grdnts are reCognid based on th¢ model and are Mre ai the fair va]ll¢ of ihe ossei received OT re¢eivable. Grartis or¢ ¢lassifJed &s relatin8 eiiheT to Tev¢nue or io &ss¢ts. Qrant5 relating to rev¢nue are r¢cogni5ed in income over Ihe riod in which Ihc relaled costs art recognised. Tax•tion The charitable company is considered to p855 le5 Set in Paragraph I Schethile 6 of the Finance Act 2010 and therefore it meets ihe definition of o ¢h8riiabl¢ ¢ompany for UK corporation 1Ox piirpoges. Accordingly, lh¢ charilablc company is poteniially exempt from taxation in respecl of income or capi1 gains reccivcd w'iihin ¢ai¢gories rovcrcd by Chapter 3 Part I l of ihe CoTporation Aa 2010 or Section 256 of the Taxalion of Chargeable Gabns Aci 1992, 10 the exieni Ihai such income org3iNs ¥e applied exclushvety io Charlble purposes. DepreeiatioTh anJorti5ti0 DepTecialion is providcd on iangible fixed assths $0 15 10 lIe off the c05t or valuation, less any estimated restdual value, over their exFCted uscful e¢onomi¢ life as follows= Asid tl*ss Cornpuier equipment Fixtures & fittines Moior vehicles Depreri•liop w¢thod ##d rxte 33% of w51 25Y• of cosr 33% of ¢0 Fixed asset iThvestmtDts Inve51ments sn subsidiaries are recorded ai C05L Trgd¢ d¢btors TTad¢ aThJ oiher debtor5 are recognIs at the seulemeni arno1 due. Prepayrnents arc valued th¢ amouni prwaid. Cash And t•$h equiv#letsts Cash and cash ul¥8]ents ¢omwise ¢ash on hand aThJ bank deposits. Trade creditors Crcdiiors are retogni$ed where the tharity has a PTestt)i obligaTion rcsulting from a past event thai will probably resul¢ itt ihe irdn5fer of fiJnds lo a third party and the amount due io settle the obligaiion can be measured or emimaied reliably. Cr¢diiOts ère norn)ally r¢¢ogn¥s¢d ai their scNlement amounL Fwnd strthcture Unre$iriti¢d gencral fiuKls - Ihese are ndS whi¢h ¢an be used in accordancc with the chaTi¢able objttis al thc discreiton of ihe Intstee& Designatcd funds- thcse arc fimd5 Set asidc by the inteS oui of unrestricied fvnds for specific future purposes or PTOj¢¢iS. Pagc21
Inl¢rAct Cbelmsford Limited Notes to the Finap¢ial Statements for ihe Year Ended 31 March 2023 Rtsirictcd fund5 - these are fund5 th can only be used for particular rcstricted purposes within tk obj¢¢ts ofthe ¢harity. Restriciions arise ivhen spe¢ified by the donor. PensioTrs and other post ttliremtnt obiiEatAO•S The charity makes paymenis 10 TPT ReiiTemeni Soluiions whith is a a multi-employer defined benefil pension s¢hem¢ a¢¢ounied for as a defin contribution scheme. These payments include deficit contribulions. Futther InfOallOn on th¢ sckme is sknwn in the notes LO the financial sthments. Flh#nelal knstrntheJts CIt7S5ificulion The charitable company only has financial assets and fjnancial liabilitie5 of a kind ihat qualify as basic financial insiNm¢nis. Ba51c financi illslruments at¢ Initio]ly recognised at transa¢iion value and subs¢qu¢nily measLtred ai I1r 5c¢tkrn¢nl val. 3 ID¢ome froN dontions and legaties Unrestrieted fud5 Rtstrltted fund5 Tot*1 2023 Totgl 2022 Do[10nS recervable Gov¢mm¢ni 8raNs Gifi Aid donations from 5ubsidiJric5 4,649 80,406 85,055 40,665 2,776 9,275 16,675 16.675 21.324 80,406 101730 52.716 Pagt 22
JDlerAtt Chelmsford Limited Notes to the Fibattcial Stattments for the Year EDded 31 March 2023 4 In<•me from rb#ri¢ablt Xlivities UnrestTirted Restricted r¥thd$ Tolal 2023 Totxl 2022 Young People's Services and Ejnotionaj Mental Hcalth & Wellbeing Cli¢nt and leamer rontribuiions 217,879 44.034 217.879 44.034 206,803 47.792 261.913 261.913 254.595 S Ine•mt from othtr trading xlivitit5 Urestritted Reslrkt¢d Total 2023 Totl 2(122 Oth¢r in¢ome 175 10.096 10,271 12.013 175 10.096 10,271 6 I¢$I¢D1 in¢•me UvArestricted Restritted Total 2023 Total 2022 Intere receivable and similar income- Inierem r¢ttiv4ble on bank d¢posits 2.910 2.910 74 Page 23
InterA¢t Ch¢lmsford Limited Notes to the Finan¢ial Stattments for th¢ Year Ended 31 March 2023 7 Expenditure on tharitxblt adlvltles Activity d¢rtlLt dirtttly Attivity support tosts 2023 Youn8 People'5 Services Emoiional M¢Mal Health & Wellbeing 188.185 82,175 59,601 35,903 247,786 118,078 270.360 95.504 365,864 Activity uAdtrtke dirtrtty Adivity support t•sts 2022 Yourtg People's Sthwice5 Emotional Menial Health & Wellbeing 163.959 90.157 42.598 13.796 206.557 103,953 254,116 56,394 310,510 8 . Analysis of iovtrts••¢e •Dd wpport costs Support tosts allorated to tbarilabje attivities Gover•anre Administration ¢osts Total 2023 Total 2022 St•ifcts YounE Peopl¢'s Services Emotional M¢n¢al Health & Wellbeing 2.548 1,212 41.538 19.986 20,480 9.740 64,566 30.9J8 42.598 13,796 61,524 30.220 95,504 56,394 Covernince tosts Ttstal 2023 20Z2 Independenl cxamineT fees Examination of Iht financio15tstemenlS Oihcr fee5 paid to examiners 2.010 1,750 1.850 1,650 3,760 3,500 Pa8£ 24
loterArt Chelmsford Limited Notes to the Fillanrial Statements for tht Year Ended 31 Marth 2023 9 Net Intomingloytgoing rtso•tt Net IncominW(oui8oin re50urce5 for ihe year include.. 2023 2022 Deprecialion of fixed &55ets 6.458 10 Trusttts Rm4#triiott tt•J txpethsts No irus¢¢e& nor any rKrson5 connxied with them. have received any remuneration from th¢ ¢hariTablt MpanY during ihe year. No trustees have received any reimbursed exFn5es or any otkn tnefit$ from the tharity dwing the ycar. I I Stff costs The aggregate payroll costs were &8 follow". 2023 21J22 St•ff ¢•Mts during tht y¢•r wr¢: Woges and saiari¢s Social 5e£uTIry Costs Pension costs 222,556 12,375 10.076 193,816 12,124 10,202 245.007 216.142 The Jnonthly averdge number of persons (irKluding senior man4erneni I leadership m) employed by the charilable company dwiD8 the year expressed by h¢*1 &$ follows: 23 2022 Toi81 20 19 10 {2022- 10) ofihe èL¥)ve employees parti¢ipotcd in Defined Contsibution Pension S¢heme& Coniribuiion$ 10 the employee pension schemes for the year totsll¢d £10.076 (2022- £10,202}. No employee (C)Ved emoluments ofmorc than £I,(m} during the y. The total ernployee knefiis of the key managemeni person] of ihe ¢haritsble company wtre £50,464 (2022 - £60,416). Pag¢ 25
IAterAet Chelmsford Limited Notes to the Filancial Statements for the Year Ended 31 Mareb 2023 12 TaxAtIo The charilable comwdny Is a regi&ter¢d charity aNI 15 therefore exemo from t&xaiion. IJ TaD#ibl¢ rued $t15 FnItre eq¥1pw1 otor v¢hirl Tolal Cost Ai l April 2022 Disposals 17.021 17.021 18. 36.016 17.021 At 31 March 2023 18.995 18.995 D¢pr¢¢iallo At l April 2022 Eliminated on disposals Al 31 Mar¢h 2023 17.021 17.021 18,995 36.016 18,995 18,995 Net book vglu¢ At 31 March 2023 At 31 March 2022 14 Fixed #sstt kntstmtts 2023 2(122 Shares in 8mup undertakings and panicipating inter¢sTS Pag¢ 26
IDlerAd Chelmslord Limiled Notes ¢0 the Financial St#temeDts for the Year Ended 31 March 2023 Shares in group vNdert•kiDgs apd parficipaliDg iw¢¢r¢sts Swbsldlary dertxklDg$ Tot81 C05t At I April 2022 At 31 March 2023 Nei book Ai 31 March 2023 At 31 Mar¢h 2022 Delaib of undertaklngJ Ddails of the investments in whi¢h The ¢1oriiable ¢omp•)y Iw)Ids 20% or mort of the nominal value of any ¢lass of share capital are follows-. C•¥tttry •f iDtorportion Proyortiott of votithg rlghts Printipgl aDd shares beid activity Undertking Holding 2023 2022 Subsidiary uThdertakings Manages Moulsham Mill Business Cenire In¢¢rAu Project$ Limit England and Wales Ordin lo Page 27
InterAct Chtlmsford limited Notes ¢0 the FinD¢ial St¥tements for the Year Ended 31 March 2023 S•bsidiarie5 DuTing the year. InierA¢t Proj¢¢i Lirniicd (Comwy number 02772864) paid InierA¢i aKlmsfoTd Limi donations of £9,27512021.. £14.952) under Gift Aid. 15 Dth•rs 202J 2022 Trade debior5 Oih¢r debtors 13.684 5,464 9.227 19,148 10,307 16 C•sh tash ¢qlY#lts 2023 2022 C&sh ai bank and in hand 416,557 449,870 17 Cr¢dil•rs". amo•nts f¥1% du¢ with¥Th •ne y¢T 2023 2022 Trade Creditors Other taxaiion and so¢ial securiry OiheT ¢idiiors Accruals Deferred income 13.2A) 3.952 1.873 3.720 1,995 2,639 4.453 2.462 4.210 36,757 24,830 50,521 21123 2022 Deferred income ai l April 2022 ResouT¢es defcrr¢d in the Period Amounts Telcastd from prcviou5 periods 36.757 8,509 32,798 4,550 34.762 Deferred intomt It ycar end 1.995 36.757 P4¢ 28
IDterAd Chelmsford Limited Notes to iht Fitsan¢ial Statements for the Ytar Ended 31 Marck 2023 18 Pttssion and other schemes DtfiThed b¢Dtfit pensioD stb¢th TPT Rdlrethttht Soluti•ns The charily parti¢ipaies in a pensi s¢hem¢ thini51¢r¢d by IPT R¢tirem¢M Soluliorts (fonnerly The Pensions Tru51). a multi<mployer scheme which provides benefits 10 some 638 non-associaied participaiin8 employers. The scheme is a defined benefit h¢Ie in ihe UK. It is FM)ssible for th¢ charity io obiaiTr suffJ¢ieni infotmaiion 10 enable it io accoum for the scheme a defined benefjt scheme. Therefore it acColS for the scheme as a defined coniribuiion s¢heme. Th¢ sch¢me is subj¢¢t 10 the fvnding Icgislaiion ouiliTKd In the PenslOn5 Acl which cajnt into for¢e on 30 Dc¢¢mber 2005. This. iogether with documents imued by the PenSFOnS Regulator and Technical Actuarial Standards issued by the Finan¢1 Reporting Cout)¢il, sei tyji the frnnewwk for fing defmed benefit o¢¢upational pension 5ch¢mes in th¢ UK. The scheme is classified &8 a 'l-Man standing arrniKemtnt. Therefore the charity 15 p)ierttially liable for other participating employeTS' obligaiions if ihose employers are unable io meet their Share of the schem¢ deficil following withdrawal from thc heMe. Panicipaiing cmployers are legally re9uired io meet their share of the scheme defjcii 00 an anrbuity pur¢hw basi5 on WIthdrnw from the %hemc. The date of the mom rettni comprehensive aciuarial valuation wa$ 30 Sepiemkr 2020. This valuation shoived et$ of£800.3m. liabtlities of £831.9m ond a deficit of £31.6m. To eliminale thi5 fvnding shortfall. thc Trustcc has &8ked Ihe participating employers io pay addiiional coniribuiions io the xheme &$ follows.. Deficit contributions.. From l April 2022 10 31 January 2025.. £3.312, annum (payabk monthly) Unless a conccssion has bEen agretd with th¢ TTU51ee thc tm lo 31 January 2025 appli¢5. The recovery plon ¢ontritWlions arc allo¢aied to cath participating ¢mployer in line ivith their c5timated shar¢ of thc Series l and Serie5 2 schcme liabilitie R¢cDtscilialithT ofsch¢mf tissets Affdl¥ab¥lilies lo •Jsets udli4bilirfie5 recoznised The amounis re¢ognis¢d in the ##temeni of financial p)silioth &8 follows: 2023 2022 Preseni valu¢ of d¢fJned ben¢fii oblig¥ion 851 (1.335 Pa8e 29
InterAct Chelmsford Limittd Notes to the Financial St4temeDts for th¢ Year Endtd 31 March 2023 Changes in the defined benefit obligation arc as follo= 2023 Present value at start of year IniereM cost Aduarial gains and Ios5e5 Contributions by 5theme participants ,335 26 123) 487 Present value at end of y¢or 851 The prin¢ipal a¢iuaTial a&sumption$ the Swemcni of fIrn¢la] posilion datc are a5 follow$- 2023 2022 D:s¢ouo¢ rat¢ 5.S2 2.35 19 Funds BalaThr¢ #i 31 Bilts¢t at I April 21122 R¢5our¢¢s exptnded rere¢S TrD5feTs 2023 Gerteral funds 205.645 24.409 (44.709) 185,345 Designrfledl4nrf5 Development fund 117.608 17.608 Toi#l UnrtSirl¢t¢d 323 253 24,409 144.709) 302,953 Re5tritttd Young People's SeTVi¢eS Emo¢ional Menthl Health & Wellbeing 58.667 250.489 {228,381} 80.775 26.403 101.Y26 (102,031 26.298 Total restricted 85.070 352.415 (330.412) 107,073 To¢#1 fwwds 408.323 376.824 (375,121 410,026 Page 30
InterAtt Chelmsford Limited Notes to the Financial Statemtbts for the Year EDded 31 Mareb 2023 Prlorye•r." Bglanr¢ xt 31 Mareh 2022 BalAntt at I April 2021 Re50vrees expended 50Mr¢ UDr¢strieted fund5 General fvnds 28,449 (4,922) 205,645 Development fimd Capilal Appeal fund 117.608 117,608 (1.000 118.608 (l.(M)O 117,608 To¢AI Unrestricted fwA*Js 299,726 28,449 {4,9221 323,253 Rt5¢ricted Young People's Services Emoiional Men¢al Health & Wellbeing 75.823 210.265 (227.4211 SB.667 49,672 80.684 {103.953) 26.403 Total r¢s¢ri¢ttd funds 125.495 331.374 85,070 Tot#l fundj 425,221 319.398 (336.296) 408.323 Th¢ specifi¢ PUTPOSeS for which the funds are lo appliesj are as follows: D¢signai¢d Futhds The trnsiees have thsi8natd a Develowncnl 10 providc funds to assisl the ¢rtatioTh of projects aftd Ihe extension ofexisling ones. This is in accordance wilh tru5ttts' poltcy on rcsetves. The Capitsl Appeal Fund for xcessible adaptaiiorL% refi1lshment and renovaiion of the"Aspire Centre" Restyi¢ted Fund5 Emotional Menial Healih & Wellbeing.. Funds Éiven srrtRfi¢ally th prornoie emotional mental h¢a]Ih and wellb¢in8 have bE¢n targel¢d ai ar¢as to build r¢sili¢nce. Yourtg P¢opl¢'s Swvi¢es.. Fund5 given 10 support OUT th wimarily wilh yo& people with learning di5abilitits. Pag¢31
lthterA¢t Chelmsford Limited Notes to the Fin%ncil Statements for the Ye4r EDded 31 Mareh 2023 20 A Tralysis of Det assets bttwttl fuDds Totaj #i 31 Mareb 2023 Uwi¢strldtd funds Dtsignt¢d d5 Restricted fuDds Fixed 355el inve5tmtnts Current assets Curreni liabililie5 Pension sch¢rne liabiltty To¢al nei assets 211,024 (24.830} 851 117.608 107.073 435,705 (24,830) 851 185.345 117.608 107,073 410,026 Total futhds •t 31 Marth 2(122 Vnrt5tridtd fwpd5 De5iZnttd furtd5 Restrlcted funds Fixed asset inve51menlS Current a5SC15 Current liabililies Pension scheme liability 257,499 (50.521) (1.335 117,608 85,070 460,177 150.521) {1.335 Total net assets 205.645 117.608 85,070 408,323 2] Related party transactions During rhe ytar the ¢haritabl¢ company made the following related party transa¢tior: IDterAtt Projects Limited In the year ended 31 M3rth 2023 InterAti Proj¢¢ts Lijnitrd donated £16.675 (2022.. £9,275} io ihe chwity under Gift Aid. Al th¢ balancc sheet date amount (hje 10 InierAct Projccts Limiied was £1.464 {2022- £Nil}. Pa8e 32
IDterAct Chelmsford Limited Notes to ihe Fin¥nci21 Statements for the Ytr Ended 31 March 2023 22 Prior year Stat¢rntnt of FiTh•tiAI Attivitits Total 2022 Unrestrittrd Restritted Nole IDtome and EDdoww¢ots from: Donation5 and grants Chariiable activitie5 OihEr irading ac¢iYities lThvesMeni ineomt 22.478 30.238 254.595 6,116 52.716 254,595 12,013 74 5.897 74 Toial rn¢om¢ 28.449 290.949 3F9.398 Raising fimds Chariiable activitie$ 4.922 20,864 310,510 25,786 310,510 Total expendilure 4.922 331.374 336.296 Net incomcl{expcndiiure) 23,527 40.425 16,898 movem¢ni in funds 23,527 (40,425) (J6,898} Reconcilialion of fuDds ToTal funds brought forward 299,726 125,495 42522) Toral ndS carried fon%wd 19 323.253 85,070 408.323 Page 33