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2023-03-31-accounts

Company number: 3162873

Charity number: 1053806

Community Action Hampshire

Report and Financial Statements

31 March 2023

Community Action Hampshire

Report of the trustees

For the year ended 31 March 2023

Contents

Reference and Administratve Details 2
Report of the Trustees 4
Report of the independent auditors 17
Statement of Financial Actvites (incorporatng an income and expenditure account) 21
Balance sheet 22
Statement of Cash Flows 23
Notes to the Financial Statements 24

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Community Action Hampshire

Report of the trustees For the year ended 31 March 2023

Reference and Administrative Details

Charity Number: 1053806 registered in England and Wales Company Number: 3162873 incorporated and registered in England and Wales Registered Office: Westgate Chambers, Staple Gardens, Winchester, SO23 8SR Telephone: 01962 854971 Fax: 01962 841160 Website: www.actonhampshire.org Email: info@actonhampshire.org

Our advisers

Auditor: Sayer Vincent LLP, Invicta House, 108 – 114 Golden Lane, London EC1Y 0TL Principal bankers: Unity Trust Bank plc, Nine Brindley Place, Birmingham B1 2HB

Investment Managers: CCLA Investment Managers Ltd, Senator House, 85 Queen Victoria Street, London, EC4V 4ET

Directors and trustees

The directors of the company in office during the year and up to the date of this report, who are trustees for the purposes of charity law, were:

Michael Southgate (Chairman – resigned January 2023) Richard Barritt (Interim Chairman appointed January 2023) Savannah King Julie Amies Colin Brown (resigned December 2022) Katharine English Margaret Geary (resigned June 2023) Kate Shurety (appointed July 2022) Nagina Kalem (appointed March 2023) Sarah Quarterman (appointed March 2023) David Laing (appointed March 2023) Ian Bowes (appointed 3 April 2023) Dr Tika Ratna (appointed 1 July 2023)

Company Secretary:

Sarah Hurford-Potter (resigned October 2022) Denise Lavers (appointed October 2022)

Chair of the Finance Commitee:

Oliver Rowe

Key management personnel

Senior Leadership Team

Chief Executive Officer

Interim CEO Head of Operations Head of Finance and Contracts Head of Enterprise Head of Community (previously Head of VCSE Support and Engagement)

Leah Campbell – appointed April 2022 (previously Head of Charitable services) Kate Shurety – resigned July 2022 Denise Lavers – appointed May 2022 Sarah Hurford-Potter - resigned October 2022 Nikki Prentice-Jones – resigned March 2023 Nicky Judd – appointed July 2022

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Community Action Hampshire

Report of the trustees For the year ended 31 March 2023

Report of the Trustees

The trustees present their report and the audited financial statements for the year ended 31 March 2023.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Our Purpose and Activities

The objectives of the Charity are:

Our vision is of a strong voluntary, community and social enterprise (VCSE) sector in Hampshire, with a mission to help and inspire the VCSE sector to be the best it can be. All of our work is driven and underpinned by our values:

The trustees have given due regard to public benefit when planning the Charity’s activities, in accordance with Sections G2 and G3 of the Charity Commission’s General Guidance on Public Benefit (January 2008).

The Charity benefits organisations and communities by helping to provide the skills, knowledge, resources, advice and information needed to fully realise potential. These benefits are directly related to the aims of the charity and are fully compliant with Principles 1 and 2 of the Charity Commission Principles on Public Benefit.

Our key charitable activities can be summarised in four main categories:

  1. Hampshire VCSE Support

  2. Membership Network

  3. Partnerships

  4. Enterprise Services

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Community Action Hampshire

Report of the trustees For the year ended 31 March 2023

Achievements and Performance

1. Hampshire VCSE Support

Housing Services/ Hampshire Homes Hub

Hampshire Homes Hub (HHH, 2020-2022) was funded for 2 years by monies from the Government to start Community Led Housing Hubs. There was no local appetite from partners to keep the partnership continuing beyond the funded period. HHH was disbanded in June 2022 when the funding came to an end.

A new upfront payment model was adopted in June 2022. The services offered in the new model were enabling, housing needs surveys, bespoke research and consultation event support. This service brought in an income of over £30,000 from June 2022 to March 2023. However, this level of income is below the cost required to run the service and the decision was made by the Trustees and Senior Management Team at Action Hampshire in March 2023 to end the service in its current form.

There were changes in the team over 2022-23. The staffing levels reduced from 2.6 FTE to 1.8 FTE in June 2022, and then reduced again to 0.8 FTE due to a member of the team going on maternity leave in September 2022.

Between April 2022 and March 2023 we supported 10-15 community led housing groups and parish councils who want to deliver housing for their communities, in both urban and rural parts of the county. This has included providing advice about the different community led housing models and establishing a group, supporting parish council working groups (in Winchfield, Bighton and Eversley) and carrying out housing need surveys, as well as assisting with site finding, selecting a housing association and public consultations.

We have delivered an income through carrying out housing need surveys in Hartley Wintney and Owslebury, as well as providing direct enabling support. Additionally, we completed work with a local authority in June 2022 looking into housing affordability within the district and identifying price ranges that are affordable for households on the register. We also carried out a piece of work providing information on Community Self Build and supported a small housing co-operative with maintenance and funding issues.

One of our Rural Housing Enablers completed a 5-6 month consultancy role supporting another Rural Community Council with rural housing enabling work from October 2022, attending Parish Council meetings, liaising with local authority partners, managing incoming enquiries and supporting the new RHE at the start of their role.

12 homes will shortly be completed in Odiham and planning permission has been granted for 8 affordable homes in Curdridge. We have provided support to both schemes since 2012 carrying out housing need surveys, searching for sites, delivering consultation events, and facilitating working groups.

The team has continued to engage with active groups and parish/town councils to support them to progress a scheme as well as promoting our housing need survey and research services. We have kept partners updated with the changes in services – both in June 2022 and March 2023.

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Report of the trustees For the year ended 31 March 2023

2. Membership Network

Membership

Action Hampshire members can benefit from a range of offers, including guidance and information, support and training, one to one meetings with our CEO, membership of our Community Buildings Advice Service, discounted posts on our jobs board and a discount on our room hire costs.

Publications 2022 - 2023

We have continued to publish a weekly newsletter with information for the voluntary, community and social enterprise (VCSE) sector. The newsletter includes funding opportunities and information and support for organisations and their beneficiaries. We alternate between a member newsletter and a shorter general newsletter called – News You Can Use (NYCU).

MEMBER – Focus is on networking and connecting in Hampshire. Also includes information on governance, policy, good news stories, up and coming events, resources, surveys, support for our members, funding and urgent announcements.

NYCU – Focus is on urgent announcements and a snapshot of the types of resources, information and funding that users can get if they become a member.

We currently have about 250 member subscribers and 1340 NYCU subscribers. Our NYCU subscriber list has reduced by about 400 after we went through a subscriber clean up exercise – removing any subscribers that weren’t opening / engaging with our newsletter.

Our open rate is at an average of 40% (based on the last 10 editions), equating to an average of 678 people opening it each week. Subscriptions are increasing by about 6 people per week, and we are getting frequent e-mails thanking us for the newsletter and requesting us to include content.

3. Partnerships

After reduced delivery due to the COVID-19 pandemic, in 2022-23 Action Hampshire began growing our research and engagement. In addition to the continuation of some of our longstanding projects, we also secured new opportunities that have resulted in innovative collaborations and stronger working relationships with partners, such as the Hampshire & IOW Integrated Care Service (ICS) and local National Institute for Health & Care Research (NIHR) bodies. Through our research and engagement projects Action Hampshire has formed an effective bridge between statutory sectors and the expertise and lived experience of VCSE organisations and their communities.

Raising Voices in Research

Action Hampshire partnered with the Hampshire and Isle of Wight ICS, University Hospital Southampton, the University of Winchester and other VCSE organisations to deliver Raising Voices in Research, a programme that aimed to grow research engagement, through both the creation of networks and participation in

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Report of the trustees For the year ended 31 March 2023

research. We funded 11 VCSE organisations to undertake two workshops with their community members, to understand their perceptions and needs regarding research and how they would like to be communicated with about research opportunities. The data from the workshops was analysed and written into a Local Plan for Research and Pledge, that provides guidance to local researchers on how to engage underserved communities in research. Communications Toolkits were also produced to support VCSE organisations to engage their members and for local researchers to better engage underserved communities in research. The project was funded by NHS Research and Innovation.

Greening for Wellbeing

Funded by NIHR Clinical Research Network Wessex, Action Hampshire delivered a short-term project that aimed to understand if and how nature based VCSE organisations measure their impact. In addition to mapping green activities across Hampshire and Isle of Wight, we funded 14 VCSE organisations to participate in two workshops. During these sessions we discussed their perceptions of impact measurement, what tools they currently use to measure their impact, the barriers/challenges they face to measuring their impact and ideas of how they could address these.

State of the Sector Research

Every two years since 2009, Action Hampshire has undertaken the State of the Sector research, on behalf of the Hampshire CVS Network. The purpose of this research project is to develop an overall picture of the sector and to increase understanding of areas in which VCSE organisations are thriving and where they may require more support. Our 2023 edition of this research focused on the Cost of Living Crisis, as this is a widely recognised situation within UK society that has had significant socio-economic effects. To collect data, we undertook an online survey (197 respondents) and online interviews and focus groups (9 participants) with VCSE organisations in Hampshire (including Southampton, Portsmouth and Isle of Wight). Once the data had been analysed, we invited VCSE organisations to review the findings (13 participants). The findings were written into a report and an executive summary video was also created. These outputs were launched a few days before we hosted a well-attended online webinar about the research.

HIVCA

Through a series of task and finish and working groups that Action Hampshire facilitated, the proposed design of the VCSE alliance for the HIOW ICS was completed and a business case submitted. Partial funding has now been agreed so that elements of this model can now be established. This process laid important foundations for the VCSE sector to contribute to strategic development and delivery across the HIOW ICS, in a fair and effective way.

Communities Against Cancer

Our Communities Against Cancer (CAC) project funded by Wessex Cancer Alliance continued until March 2023. This saw 200 people access our Cancer Awareness Workshops and many VCSE organisations receive grants and support from Action Hampshire to help them deliver cancer awareness projects. Projects were aimed at helping people reduce their risk of cancer, understand signs and symptoms, cancer screening and the importance of seeking help early. There was a particular focus on reaching communities experiencing health inequalities with specific projects engaging with Black men and prostate cancer and Asian women and cancer screening. An evaluation of CAC was conducted by the University of Southampton Macmillan Research Group. The draft final report highlights the good practice and positive relationships built by the Action Hampshire Team with VCSE organisations, communities and the funder. Communities Against Cancer has been funded for a further 2 years with £200,000 funding to Action Hampshire (provided in yearly instalments of £100,000 per year from June 2024). Work continues to develop relationships with Wessex Cancer Alliance

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and the ICS to embed this work into their usual funding and provide long-term stability and funding to this project.

Communities Tackling Loneliness with Transport

Communities Tackling Loneliness with Transport is a 1 year pilot project funded by the Department for Tranpsort (DfT). Action Hampshire has been responsible for project managing the collaborative project and reporting to the DfT with progress reports and financial recording. The Hampshire-wide project involves three delivery partners – Age Concern Hampshire, MHA and Good Neighbours Network, each sharing in the funding and delivering a sustainable transport model to older residents who may be experiencing loneliness. The aim is for people to be able to access activities and social connection through using the new transport options. Age Concern Hampshire purchased an electric minibus. MHA leased four electric cars. Good Neighbours Network purchased an Electric Tri-shaw bike, electric cargo bikes and an electric van. The University of Winchester has also been a partner, conducting research with the participants. This has been to evaluate the project and determine whether loneliness rates and health and wellbeing measures have improved with the use of the transport models. The delivery of the pilots comes to an end in July 2023 with Action Hampshire’s work continuing in sharing the learning from the projects and engaging with the wider VCSE sector on the issue of loneliness, as a major health risk for physical and mental health within Hampshire communities. The University of Winchester evaluation report is due in early 2024.

Warmth Matters

The Warmth Matters programme, is funded annually by Scottish & Southern Energy Network (SSEN). The project has been funded over the past few years to help the energy sector reach vulnerable energy users and provide information. This has been delivered in partnership with Surrey Community Action as the SSEN area crosses over both Hampshire & Surrey areas. The project focuses on supporting eligible individuals and families to sign up for the Priority Services Register (PSR) so that they receive additional assistance in a power cut, whether planned or an emergency. This has been achieved through attending events and collaborating with VCSE partners to provide information and guidance to energy users in vulnerable groups. Due to restructuring at SSEN, funding for this year has not yet been received. However, the Warmth Matters work is continuing, and communication is progressing with SSEN to secure further funding for a project lasting until March 2025.

Community Buildings Support

Action Hampshire continues to engage with and support community buildings. The Basecamp (online platform) group for Community Buildings is well used as a place for sharing information and for peer support. Community buildings have been supported around funding, governance, sustainability, environmental initiatives, energy costs, becoming warm hubs, representation and rural issues. They continue to be engaged with other opportunities at Action Hampshire such as the Together for our Planet project. We also celebrate and showcase our community buildings, highlighting the important part they play as community hubs, increasing social connectedness and providing vital services for the health and wellbeing of communities.

Strategic representation

We have continued to support and represent the sector through Hampshire Leadership Forum, Hampshire Rural Forum, Ukraine Support Group, Hampshire Domestic Abuse Partnership Board, HIOW solutions (engagement) group, HCC mental health and poverty, and its subgroup mental wellbeing and green spaces and taking part in ad hoc opportunities such as HCC’s Public Health event.

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Report of the trustees For the year ended 31 March 2023

The strong foundations we’ve set in 2022-23, has meant we have many projects lined up for the 2023-24 financial year:

Fraton Big Local

Action Hampshire is the “Locally Trusted Organization” for Fratton Big Local (FBL) – a £1,000,000 10 year project aimed at regenerating the Fratton area. This means we are supporting the Fratton Big Local Board with community developments, finance and project management expertise that will support them to invest in the future of Fratton. The Big Local programmer is managed nationally by Local Trust and is funded by the Big Lottery Fund.

The FBL Partnership has continued to support the Fratton Road Traders Association. This year has been different due to the COVID-19 Pandemic and the passing of her late Majesty the Queen. Whilst we haven’t been able to do all of our normal annual events, FBL has been able to hold various other events.

FBL has also started the process of exploring opening a community Pantry in Fratton, which we hope to have open during the next year.

Other FBL activities during the year included:

Whilst the annual Fratton Family Festival could not take place, FBL hope to hold it this next year!

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Community Action Hampshire

Report of the trustees

For the year ended 31 March 2023

4. Hampshire VCSE Support

From July 2022 to March 2023, the Enterprise team successful won and delivered the Accelerating Women’s Enterprise (AWE) programme in partnership with the School for Social Entrepreneurs Dartington team. The key aims of the programme were to support women who face multiple barriers into enterprise and to increase the sustainability of struggling early-stage women-owned businesses and social enterprises. The programme consisted of a combination of action learning programmes, online training, a residential intensive weekend, mentoring and peer networking access support.

It made an incredible impact and difference to the 37 women who we supported through the three programme elements:

Sofa Sessions

To support women with their business idea or to turn a community or voluntary project into a social enterprise.

Nuts & Bolts

Giving women the practical skills to run a business that helps the community or the environment, and how their work can achieve positive change.

Accelerator Weekend

For female leaders who have been running their business for at least 2 years, who need time to reflect, restore. and re-energise

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Report of the trustees For the year ended 31 March 2023

Mentoring

Additional sessions

AWE participant Case Study

Susanna Edwards, The School of Creative Wellness

Meet Susanna Edwards, a former university programme leader, created The School of Creative Wellness at the end of 2022 after experiencing poor mental wellbeing after caring for her father through a long period of ill health and finding that her life lacked balance and joy. After re-training as a yoga teacher and rekindling her love of letterpress, Susanna has created ‘Back to You’ and ‘Breathe then Reach’ programmes to help women to find clarity, balance and joy; providing self-care practices & wellbeing services.

During her time on the Accelerating Women's Enterprise (AWE) programme, Susanna initially explored and defined the concept behind her business in a group setting that was kind and collaborative. “The format of the workshops were dynamic and interactive with an amazing team going above and beyond to nurture, educate and enable us to pursue our passions with realism and care.” says Susanna.

Susanna attended the Women’s Enterprise Sofa Session workshops in 2022, which helped her explore her vision and purpose to develop her business idea in a supportive group of like-minded women. Susanna has progressed to the Nuts & Bolts workshop sessions, which teach practical skills on how to run a business and how her work can achieve positive change. Since the beginning of the course, she has left employment and launched her business and the Nuts and Bolts is really keeping her on track in every aspect of delivery.

One of the most useful aspects of the course according to Susanna were the in person dynamic workshops which fostered collaborative working and sharing, the volume of support and resources and the community and networks built. Susanna sys, “The Project lead, Jen, has a theatre background and her approach enabled us to work in a highly engaging, inspiring and productive way. There is so much content, and it was delivered with care, innovation, and aplomb. The guest speakers were so well curated and left me feeling inspired and

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Report of the trustees For the year ended 31 March 2023

full of ideas to implement. The learning environment was vibrant, and I could really open up in a safe caring space about my ideas, my feelings and felt so much support. I loved contributing and listening and sharing in person and the virtual learning environment, introduced in the Nuts and Bolts gives me time to digest and continue learning and interacting outside of the in-person sessions. The Motivational Maps uncovered deep behavioural and attitude insights that were ‘revelationary’ and tied them to how to operate understanding my strengths and vulnerabilities to work in the best way possible.”

Participant feedback

Suanna continues, "My main issues when I joined was that I was working in isolation and being alone and my breakthrough at the end is the realisation that I don’t have to do it alone. It was more than a perception that a reality and with that in mind I’ve delegated my logo design. After exploring more I’ve paired back my steps and instead of seeking to work in school straight away, I’m going to start doing a few workshops in the library."

I’m now connected with another group member to collaborate on our businesses together. I would never have known where or how to connect in this way before I did this course. I’m so grateful that I was able to be honest about where I was at the start – which was confused, overwhelmed, and thinking of giving up – to optimistic, I have a sense of clarity that I just didn’t have before and I’m ready for action! Most of all I feel supported and able to ask for help when I need it. Watch this space!”

"This course has made a massive difference to my life and to my family’s life. I’m now so much more confident and able to express how I feel about not just my business but for myself personal I have found my voice again. I can do this and I will.” “The weekend away was amazing. The connection with human beings was so important to me and in helping me be better at my business, I loved having dinner together, playing games and being our true playful selves, I really loved that.”

The School for Social Entrepreneurs Lloyds Start Up programme

The current Lloyds funding for School for Social Entrepreneurs Start Up programme came to an end in October 2022 after 13 years. During this time SSE Hampshire have supported over 220 social entrepreneurs – over the last 4 years alone nearly 8,000 people have benefitted from their enterprises; the impact of this programme has been incredible.

Over the last 12-month period, the Social Enterprise team have delivered the following learning programme session:

15 StudyDays
8 Acton Learningsets
1 Graduaton celebraton event

The 2022 Graduating Students are featured in annual year book, which is saved on the Action Hampshire website via this link: SSE-2022-Student-Yearbook-FINAL.pdf (actonhampshire.org.uk)

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Community Action Hampshire

Report of the trustees For the year ended 31 March 2023

Financial Review

Net Incoming/Outgoing Resources

The charity budgeted to operate at a deficit in the year to 31 March 2023, and while income was broadly in line with budget, increased operating expenses, the dilapidation provision and a loss on investments increased the actual deficit. The charity is addressing increased operating costs as part of the three-year strategic plan explained below.

Unrestricted funds show net outgoing resources for the year of £709,942 before accounting for an actuarial gain on the pension fund of £1,496,000 and a loss on investments of £87,941. Restricted funds show net incoming resources for the year of £126,979.

The charity received core infrastructure funding from Hampshire County Council, totalling 5% (2022: 8%) of its grant income for the year. A further 5% (2022: 7%) of grant income was provided by Defra via an agreement with Action with Communities in Rural England (ACRE). Grants from all sources represent 85% (2022: 47%) of the charity’s total incoming resources.

The statement of financial activities shows income and expenditure in respect of each of the charity’s main areas of activity.

Reserves, Investment Policy and Going Concern

The charity’s reserves increased significantly in early 2014 as a result of the sale of its single major asset, Beaconsfield House. Before the sale this had been Action Hampshire’s operational base. The sale proceeds were invested in a planned way to support and develop the organisation, securing its ability to meet the needs of current and future members in an increasingly difficult financial environment, and also to fund the ongoing cost of its leased premises at Westgate Chambers.

In August 2013 the Board appointed CCLA as external investment managers and takes their advice in investment strategy. Long term investments have been made in a range of CCLA funds, with the object of securing a sustainable income while maintaining capital value. CCLA reports regularly to the Investment Group and to the Board. Investment income for the year of £64,820 was under target and like many charities, the market value of investments fell during the year. Full details of the 2022-23 performance are given in the financial statements in note 18.

The Board maintains current accounts with Unity Trust Bank plc and Lloyds Bank plc.

The Board aims to maintain free reserves of at least six months of unrestricted expenditure. The trustees consider that this is the minimum required to manage variations in income generation and timing, unexpected expenses and variable investment returns without impacting support for our members and beneficiaries.

At 31 March 2023, six months of unrestricted expenditure was £493,187 and after taking into account the pension scheme liability, unrestricted reserves were £1,434,859. Of these £nil related to fixed assets. Designated funds totalling £400,000 were held in respect of the implementation of the three-year strategic plan.

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Report of the trustees For the year ended 31 March 2023

Community Action Hampshire

Unrestricted reserves represent 20.6 months’ worth of unrestricted expenditure. This is in excess of the minimum required level but the senior leadership team and trustees are aware that the charity can only continue to operate at a deficit for a limited period and so have developed and implemented a new threeyear strategic plan aimed at taking advantage of emerging opportunities, and strengthen the operations and finances of the charity to maximise the long-term support for our members and beneficiaries. The strategic plan is expected to be completed during the financial year to 31 March 2026 and by then the charity should not be operating at a deficit.

The board have set aside designated reserves of £400,000 to see the organisation through the planned deficits during this transition.

There is no expectation that the pension fund will need to be distributed in full during the next twelve months and therefore there will be no requirement to make good the pension scheme liability of £208,000. Further details are provided in Plans for Future Periods below.

As at 31 March 2023, the charity had cash reserves of £75,363, together with £216,025 and £1,869,594 of investments held in the CCLA COIF Charities Deposit and Investment Funds respectively.

Restricted funds are designed to be self-sufficient and to support themselves from their own reserves.

Plans for Future Periods

Grant income from both local and national government has declined significantly over the last few years, and so the new Strategic Plan positions the Charity to cope with further reductions in future years and also the possibility that grant income may cease entirely. Work has been underway for a number of years to reduce the organisation’s reliance on grant income, and the senior management team continues to work on diversifying its income streams.

The charity has notified its landlord and another charity which shares its office space that it intends to vacate the Westgate Chambers premises when its lease ends on 28th January 2024. Office space has not been utilised fully since the increase in staff working from home, and the cost savings from vacating the premises provides an opportunity to use other more convenient and cost-effective spaces for meetings or other functions as required.

The charity’s defined-benefit pension scheme was closed to new members from January 2019 and the Board decided to close the pension scheme to the remaining active members from September 2023. Responsibility for managing all accrued obligations up to that date is being transferred to the local authority Pension Services and all active members in the scheme have been enrolled in the charity’s defined-contribution pension scheme.

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Community Action Hampshire

Report of the trustees For the year ended 31 March 2023

Structure, Governance and Management

Governing Document

Community Action Hampshire, whose operating name is Action Hampshire, is a company limited by guarantee and is a registered charity. It was incorporated in 1996 and was previously an unincorporated association formed in 1951.

As of 31 March 2023, Action Hampshire had 90 full voting members. Full members comprise voluntary, community and social enterprise organisations (including unincorporated groups and individuals). Associate members are private or public sector organisations with an interest in the voluntary, community or social enterprise sector, including social enterprises that are private limited companies.

The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

The governing document is the company’s Articles of Association, a single document adopted at a general meeting held in November 2009 to reflect the Companies Act 2006. Revised and updated Articles of Association were adopted at the Annual General Meeting in November 2013, but with no change to the charity’s objects.

Recruitment and appointment of trustees

When recruiting trustees, the organisation ensures that the Board has a comprehensive range of skills and that the trustees come from all areas of Hampshire.

Trustees elected for the first time must be proposed by a member. Members elect trustees at the Annual General Meeting. The number of trustees shall not exceed twelve nor be less than five, of whom a simple majority must be elected. At 31 March 2023, there were 9 trustees. The trustees may act notwithstanding any vacancies in their number.

In accordance with the Articles of Association, one third of the non-co-opted trustees stands down at the Annual General Meeting and can seek re-election. No trustee may serve continuously for more than nine years unless holding the office of chairman. Trustees can be co-opted by elected trustees; they leave office at the Annual General Meeting following their co-option unless re co-opted.

Inducton and training of trustees

New trustees receive a full, planned induction. They are fully briefed on their legal responsibilities under charity and company law, the content of the Articles of Association, the committee and decision-making processes, the business plan, and recent financial performance of the charity. During the induction period they meet key employees and other trustees. All trustees are expected to attend trustee training events and, when possible, organisational training events and away days.

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Report of the trustees For the year ended 31 March 2023

Organisaton

The Board of trustees is responsible for setting the overall direction and policies of the organisation. The Board also has a Finance Committee. The Chief Executive is responsible to the Board for the implementation of policies and decisions.

Related partes

None of our trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or senior manager of the charity with any supplier or contractor must be disclosed to the full Board of trustees in the same way as any other contractual relationship with a related party. Related party transactions are reported in note 10.

Pay policy for senior staf

The Board of trustees, and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day-to-day basis. All trustees give their time freely and no trustee received remuneration in the year. Details of trustees’ expenses and related party transactions are disclosed in note 8 and note 10 to the accounts.

The pay of senior staff is reviewed annually and normally increased in accordance with cost-of-living increases, when finances allow.

Risk Management

The trustees have a risk management strategy which comprises:

This work has identified that financial sustainability is the major financial risk for the charity. Active management of the charity’s working capital and regular cash flow forecasting are key elements in the management of this risk, drawing down on earnings and capital from long-term investments when needed. In April 2019 the charity entered a partnership with IncuHive, a local company marketing co-working space. This has generated additional income for the charity using unoccupied space in the Winchester premises.

Attention has also been drawn to non-financial risks arising from shortfalls in staffing, governance and legal obligations. These risks are managed by having robust policies and procedures in place across all operational areas.

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Report of the trustees For the year ended 31 March 2023

Fundraising

The charity does not currently carry out significant fundraising, and therefore we have nothing to report regarding any of the legal requirements relating to fundraising.

Trustees’ responsibilities in relation to the financial statements

The trustees (who are also directors of Community Action Hampshire for the purposes of company law) are responsible for preparing the report of the trustees and the financial statements in accordance with applicable law and United Kingdom Accountancy Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The trustees’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.

By order of the Board of trustees

Richard Barritt Chairman 13 December 2023

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Independent Auditor’s Report

to the members of Community Action Hampshire

Opinion

We have audited the financial statements of Community Action Hampshire (the ‘charitable company’) for the year ended 31 March 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Community Action Hampshire's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the trustees’ annual report, than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge

17

Independent Auditor’s Report

to the members of Community Action Hampshire

obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

18

Independent Auditor’s Report

to the members of Community Action Hampshire

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

19

Independent Auditor’s Report

to the members of Community Action Hampshire

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Fleur Holden (Senior statutory auditor)

13 December 2023

for and on behalf of Sayer Vincent LLP, Statutory Auditor

Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

20

Community Action Hampshire

Statement of Financial Activities (incorporating an income and expenditure account)

for the Year Ended 31 March 2023

Notes
INCOME FROM
Donations and legacies
3
Charitable activities
6
Support for VCSE sector
Support for community-led action
Celebrating diversity and tackling disadvantage
Consultancy, advice and training
Other trading activities
4
Investment income
5
Total
EXPENDITURE ON
Raising funds
7
Charitable activities
8
Support for VCSE sector
Support for community-led action
Celebrating diversity and tackling disadvantage
Consultancy, advice and training
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
58,943
-
37,628
-
3,590
111,451
64,820
276,432
48,496
250,075
337,406
187,154
163,243
986,374
(87,941)
(797,883)
1,496,000
698,117
736,742
1,434,859		 Restricted
funds
£
-
123,234
186,623
851,854
-
-
-
1,161,711
4,209
109,171
161,179
746,344
13,830
1,034,733
-
126,978
-
126,978
64,985
191,963		 2023
Total
funds
£
58,943
123,234
224,251
851,854
3,590
111,451
64,820
1,438,143
52,705
359,246
498,585
933,498
177,073
2,021,107
(87,941)
(670,905)
1,496,000
825,095
801,727
1,626,822		 2022
Total
funds
£
50,646
98,576
136,684
200,761
14,467
92,633
73,378
667,145
22,095
268,761
498,547
433,508
-
1,222,911
238,651
(317,115)
761,000
443,885
357,842
801,727

The notes form part of these financial statements

21

Community Action Hampshire (Registered number: 03162873)

Balance Sheet
31 March 2023
Notes
FIXED ASSETS
Investments
18
CURRENT ASSETS
Debtors
19
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
20
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
PROVISIONS FOR LIABILITIES
22
PENSION LIABILITY
25
NET ASSETS
FUNDS
24
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2023
£
2,088,819
109,296
75,363
184,659
(288,656)
(103,997)
1,984,822
(150,000)
(208,000)
1,626,822
1,434,859
191,963
1,626,822		 2022
£
2,434,340
54,639
120,165
174,804
(221,417)
(46,613)
2,387,727
-
(1,586,000)
801,727
736,742
64,985
801,727

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 13 December 2023 and were signed on its behalf by:

............................................. R Barritt - Trustee

The notes form part of these financial statements

22

Community Action Hampshire

Statement of Cash Flows
for the Year Ended 31 March 2023
2023
Notes
£
Cash flows from operating activities
Cash generated from operations
28
(367,202)
Net cash used in operating activities
(367,202)
Cash flows from investing activities
Purchase of fixed asset investments
(212,420)
Sale of fixed asset investments
470,000
Interest received
64,820
Net cash provided by investing activities
322,400
Change in cash and cash equivalents in
the reporting period
(44,802)
Cash and cash equivalents at the
beginning of the reporting period
120,165
Cash and cash equivalents at the end of
the reporting period
75,363		 2022
£
(586,295)
(586,295)
(73,327)
590,000
73,378
590,051
3,756
116,409
120,165

The notes form part of these financial statements

23

Community Action Hampshire Notes to the Financial Statements for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Community Action Hampshire is a charitable company limited by guarantee and is incorporated in the United Kingdom. The registered office address is Westgate Chambers, Staple Gardens, Winchester, SO23 8SR.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.

Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The charity has net assets of £1,626,822 at the year end. Net current liabilities are £103,997, but the charity has a cash balance of £75,363 and investments of £2,088,819. There was a net increase in funds for the year of £825,095, though £1,496,000 related to actuarial gains on the defined benefit pension scheme. The charity has exited the pension scheme post year end. Although the charity made an operational deficit of £670,905, the balance sheet remains strong. On this basis, the trustees consider it appropriate to prepare the financial statements on the going concern basis. This assumes that the charity will continue in operational existence for the foreseeable future. In making this assessment the trustees have reviewed the balance sheet, the likely future cash flows of the charity and have considered the funds available at this point in time.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Interest on funds held on deposit and income from investment funds is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the income paid or payable by the bank or fund.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

24

continued...

Community Action Hampshire

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Expenditure

Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.

Allocation and apportionment of costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned based on staff time attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area of literature occupied by each activity.

Redundancy / Termination payments

Termination benefits are measured at the best estimate of the expenditure required to settle the obligation at the reporting date. If the expected settlement date of the termination payments is 12 months or more after making the provision and the effect would be material, the present value of the obligation is calculated using an appropriate discount rate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 20% on straight line basis Computer equipment - 33% on straight line basis

Fixed assets are capitalised where the purchase price exceeds £1,000. Depreciation and amortisation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity participates in a defined benefit pension scheme. The assets of the scheme are held and managed separately from those of the charity.

The charity has adopted the full requirements of Financial Reporting Standard 102 - Accounting for Defined Benefit Schemes (FRS102). Current or past service costs and gains, as determined by the scheme’s actuary, are charged to the statement of financial activities. Pension finance costs or income are included within total resources expended or incoming resources as applicable. Actuarial gains and losses arising are recognised within ‘gains and losses’ on the statement of financial activities.

The deficit on the scheme, representing the shortfall of the value of the scheme assets below the present value of the scheme liabilities is recognised as a liability on the balance sheet to the extent that the employer charity has a legal or constructive obligation for the liability. A corresponding pension reserve is included within total unrestricted funds.

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

25

continued...

Community Action Hampshire

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading 'Net gains/(losses) on investments' in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

Non-listed investments

Non-listed investments are recognised at cost.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. DONATIONS AND LEGACIES

Unrestricted
Restricted
funds
funds
£
£
Donations
443
-
Grants
58,500
-
58,943
-		 2023
Total
funds
£
443
58,500
58,943		 2022
Total
funds
£
-
50,646
50,646

Grants received, included in the above, are as follows:

Hampshire County Council (HCC)
OTHER TRADING ACTIVITIES
Unrestricted
funds
£
Rental income
90,958
Training, membership fees and other
income
20,493
111,451		 Restricted
funds
£
-
-
-

4. OTHER TRADING ACTIVITIES

26

continued...

Community Action Hampshire

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

5. INVESTMENT INCOME

Unrestricted
Restricted
funds
funds
£
£
Interest and dividends
64,820
-
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Support for VCSE sector
CJRS
Support for VCSE sector
Fees and contracts
Support for VCSE sector
Grants
Support for community-led action
Fees and contracts
Support for community-led action
Grants
Celebrating diversity and tackling
disadvantage
Fees and contracts
Celebrating diversity and tackling
disadvantage
Fees and contracts
Consultancy, advice and training

6. INCOME FROM CHARITABLE ACTIVITIES

7. RAISING FUNDS

Raising donations and legacies

Staff costs
Sundries
Support costs
CHARITABLE ACTIVITIES COSTS
Support for VCSE sector
Support for community-led action
Celebrating diversity and tackling
disadvantage
Consultancy, advice and training		 Unrestricted
funds
£
19,427
6,482
22,587
48,496
Direct
Costs (see
note 9)
£
172,728
247,169
90,454
89,028
599,379		 Restricted
funds
£
-
-
4,209
4,209
Grant
funding of
activities
(see note
10)
£
6,600
2,594
621,018
-
630,212		 2023
Total
funds
£
19,427
6,482
26,796
52,705
Support
costs (see
note 11)
£
179,918
248,822
222,026
88,045
738,811

8. CHARITABLE ACTIVITIES COSTS

27

continued...

Community Action Hampshire

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

9. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Other staff costs
Operating costs
10.
GRANTS PAYABLE
Support for VCSE sector
Support for community-led action
Celebrating diversity and tackling disadvantage		 2023
£
338,404
1,760
259,215
599,379
2023
£
6,600
2,594
621,018
630,212		 2022
£
475,193
982
188,446
664,621
2022
£
-
9,066
136,390
145,456

Wessex Cancer Alliance / Communities Against Cancer funding - grants paid £91,188 (2022: £134,208) 32 grants (2022: 28) were paid to eligible community groups/organisations, ranging in value from £760 to £5,000 (2022: £400 to £3,000).

Fratton Big Local Community Grants funding - grants paid £2,594 (2022: £9,066)

4 grants (2022: 4) were paid to eligible community groups in Fratton, ranging in value from £285 to £934 (2022: £600 to £6,759).

ICS Rend - grants paid £39,100 (2022: None)

16 grants were paid to eligible community groups, ranging in value from £500 to £3,460

NIHR - grants paid £6,600 (2022: None)

10 grants were paid to eligible community groups, ranging in value from £600 to £1,200

NAVCA Cost of Living - grants paid £4,500 (2022: None) 6 grants were paid to eligible community groups, of £750 each

Department for Transport Tackling Loneliness- grants paid £486,230 (2022: None)

4 grants were paid to eligible charity's/organisations ranging in value from £37,493 to £177,658.

28

continued...

for the Year Ended 31 March 2023

Community Action Hampshire

Notes to the Financial Statements - continued

11. SUPPORT

Support costs are as follows:

Management

Raising
donations
and
legacies
£
Wages
9,028
Social security
1,591
Pensions
6,286
Other staff costs
82
Operating costs
9,473
Independent examination
-
Auditor's remuneration
336
26,796
Celebrating
diversity
Consultancy,
and
advice
tackling
and
disadvantage
training
£
£
Wages
74,799
29,662
Social security
13,176
5,225
Pensions
52,086
20,655
Other staff costs
689
273
Operating costs
78,492
31,126
Independent examination
-
-
Auditor's remuneration
2,784
1,104
222,026
88,045		 Support
Support
for
for VCSE
community-le
sector
action
£
£
60,613
83,826
10,677
14,766
42,208
58,373
558
772
63,606
87,965
-
-
2,256
3,120
179,918
248,822
2023
2022
Total
Total
activities
activities
£
£
257,928
243,424
45,435
-
179,608
-
2,374
4,162
270,662
148,488
-
3,251
9,600
-
765,607
399,325

Activity Basis of allocation Management Staff time attributable to each activity

12. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Independent examination fee (excluding VAT)
Operating lease rentals - property
Operating lease rentals - other
Auditor's remuneration (excluding VAT)		 2023
£
-
86,000
446
9,600		 2022
£
3,800
92,484
484
-

13. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

Trustees' expenses represent the payment or reimbursement of travel and subsistence costs totalling £65 (2022: £0) incurred by 2 (2022: 0) members relating to attendance at meetings of the trustees.

29

continued...

Community Action Hampshire

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

14. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2023
£
615,759
45,435
179,608
840,802		 2022
£
470,581
42,476
211,611
724,668

The average monthly number (headcount) of employees during the year was as follows:

Supporting for VCSE sector
Support for community-led action
Celebrating diversity/tackling disadvant
Consultancy, advice and training
Support and admin		 2023
5
5
4
3
8
25		 2022
5
5
3
-
8
21

No employees received emoluments in excess of £60,000.

The total employee benefits including pension contributions and employer's NI of the key management personnel were £186,000 (2022: £155,000).

Total redundancy payments for the year were £49,060 (2022: £Nil). These payments were accrued at the balance sheet date.

Employer pension contributions are split between:

2023
£
Operating costs of defined benefit pension schemes
171,000
Employer’s contribution to defined contribution pension schemes
8,608
179,608
15.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
50,646
-
Charitable activities
Support for VCSE sector
9,123
89,453
Support for community-led action
500
136,184
Celebrating diversity and tackling
disadvantage
16,370
184,391
Consultancy, advice and training
14,467
-
Other trading activities
92,633
-
Investment income
73,378
-
Total
257,117
410,028
EXPENDITURE ON
Raising funds
22,095
-
Charitable activities
Support for VCSE sector
143,125
125,636
Support for community-led action
191,589
306,958
Celebrating diversity and tackling
disadvantage
241,132
192,376		 2022
£
202,000
9,611
211,611
Total
funds
£
50,646
98,576
136,684
200,761
14,467
92,633
73,378
667,145
22,095
268,761
498,547
433,508

30

continued...

Community Action Hampshire

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
funds
funds
£
£
Total
597,941
624,970
Net gains on investments
238,651
-
NET INCOME/(EXPENDITURE)
(102,173)
(214,942)
Transfers between funds
(122,106)
122,106
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes
761,000
-
Net movement in funds
536,721
(92,836)
RECONCILIATION OF FUNDS
Total funds brought forward
200,021
157,821
TOTAL FUNDS CARRIED FORWARD
736,742
64,985
16.
INTANGIBLE FIXED ASSETS
COST
At 1 April 2022 and 31 March 2023
AMORTISATION
At 1 April 2022 and 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
17.
TANGIBLE FIXED ASSETS
Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 April 2022 and 31 March 2023
36,586
12,977
DEPRECIATION
At 1 April 2022 and 31 March 2023
36,586
12,977
NET BOOK VALUE
At 31 March 2023
-
-
At 31 March 2022
-
-		 Total
funds
£
1,222,911
238,651
(317,115)
-
761,000
443,885
357,842
801,727
Computer
software
£
24,857
24,857
-
-
Totals
£
49,563
49,563
-
-

31

continued...

Community Action Hampshire

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

18. FIXED ASSET INVESTMENTS

FAIR VALUE
At 1 April 2022
Additions
Disposals
Change in fair value
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
There were no investment assets outside the UK.
Analysis of investments:
CCLA COIF Charities Investment Fund
CCLA COIF Charities Deposit Fund
Investment in Subsidiary - AH Activate Ltd
Investment in Community Infrastructure Partnership CIC
Investment in Cirican		 2023
1,869,594
216,025
100
100
3,000
2,088,819		 Investments
£
2,434,340
212,420
(470,000)
(87,941)
2,088,819
2,088,819
2,434,340
2022
2,407,536
23,605
100
100
3,000
2,434,340

The charity owns 100% of the share capital of AH Activate Limited, a company limited by shares (company number 10495826) and based in the UK. There is no activity within AH Activate Limited and consolidated accounts have therefore not been prepared. The company has a share capital of £100.

During 2019/20 the charity made a £3,000 investment in Cirican LLP, a Limited Liability Partnership with ACRE and 16 other Rural Community Councils.

During 2019/20 the charity made a £100 investment in Community Infrastructure Partnership a Community Interest Company with 6 other CVSs.

19. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income		 2023
£
63,559
45,737
109,296		 2022
£
30,801
23,838
54,639

32

continued...

Community Action Hampshire

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

20. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
Deferred income
Accrued expenses
Deferred income
Deferred income at 1 April 2022
Resources deferred in the year
Amounts released from previous years
Deferred Income at 31 March 2023		 2023
£
172,257
5,223
3,003
22,230
85,943
288,656
£
178,308
22,230
(178,308)
22,230		 2022
£
25,575
6,709
2,218
178,308
8,607
221,417

Deferred income comprises £13,230 Barrow Cadbury funding for a project that commences April 23 and £9,000 for training courses held post year end.

21. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
22.
PROVISIONS FOR LIABILITIES
Provision for dilapidation		 2023
£
71,667
2023
£
150,000		 2022
£
86,000
2022
£
-

The charity has given notice to leave the premises they occupy and as such a provision for dilapidations has been made at the best estimate of the amount that will be payable.

23. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Investments
Net current assets/(liabilities)
Provision for liabilities
Pension liability		 Unrestricted
funds
£
2,088,819
(295,960)
(150,000)
(208,000)
1,434,859		 Restricted
funds
£
-
191,963
-
-
191,963		 2023
Total
funds
£
2,088,819
(103,997)
(150,000)
(208,000)
1,626,822		 2022
Total
funds
£
2,434,340
(46,613)
-
(1,586,000)
801,727

COMPARATIVE ANALYSIS OF NET ASSETS BETWEEN FUNDS

Investments
Net current assets/(liabilities)
Pension liability		 Unrestricted
funds
£
2,434,340
(111,598)
(1,586,000)
736,742		 Restricted
funds
£
-
64,985
-
64,985		 2022
Total
funds
£
2,434,340
(46,613)
(1,586,000)
801,727

33

continued...

Community Action Hampshire Notes to the Financial Statements - continued for the Year Ended 31 March 2023

24. MOVEMENT IN FUNDS

At 1.4.22
£
Unrestricted funds
General fund
898,785
Designated Funds
Westgate Chambers Lease and
Maintenance
100,000
Action Hampshire Business Development
50,000
Fair Value reserve
1,273,957
Pension reserve
(1,586,000)
3 year strategy
-
736,742
Restricted funds
Rural Community Action Network
4,483
VCSEP
4,750
Fratton Big Local
22,346
Scottish & Southern Electricity Network
440
Wessex Cancer Alliance
-
HIVCA
15,657
Hampshire Rural Forum
575
HIWCF Strategic Digital Funding
16,734
Tackling Loneliness
-
ICS REND
-
NIHR Greening for Wellbeing
-
Accelerating Women in Enterprise
-
64,985
TOTAL FUNDS
801,727
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
185,474
Designated Funds
Westgate Chambers Lease and
Maintenance
90,958
Fair Value reserve
-
Pension reserve
-
276,432
Restricted funds
Rural Community Action Network
44,675
VCSEP
6,001
Fratton Big Local
135,947
Scottish & Southern Electricity Network
11,000
Wessex Cancer Alliance
176,978
HIVCA
22,000
Hampshire Rural Forum
-
HIWCF Strategic Digital Funding
-
Tackling Loneliness
566,876
ICS REND
87,000
NIHR Greening for Wellbeing
15,000
NAVCA Cost of Living Fund
10,000
Accelerating Women in Enterprise
86,234
1,161,711
TOTAL FUNDS
1,438,143		 Net
movement
in funds
£
(534,973)
(56,969)
-
(87,941)
1,378,000
-
698,117
(4,483)
(4,750)
14,008
2,731
41,243
(3,776)
(575)
(16,734)
61,825
27,519
5,970
4,000
126,978
825,095
Resources
expended
£
(720,447)
(147,927)
-
(118,000)
(986,374)
(49,158)
(10,751)
(121,939)
(8,269)
(135,735)
(25,776)
(575)
(16,734)
(505,051)
(59,481)
(9,030)
(10,000)
(82,234)
(1,034,733)
(2,021,107)		 Transfers
between
funds
£
(306,969)
(43,031)
(50,000)
-
-
400,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Gains and
losses
£
-
-
(87,941)
1,496,000
1,408,059
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,408,059		 At
31.3.23
£
56,843
-
-
1,186,016
(208,000)
400,000
1,434,859
-
-
36,354
3,171
41,243
11,881
-
-
61,825
27,519
5,970
4,000
191,963
1,626,822
Movement
in funds
£
(534,973)
(56,969)
(87,941)
1,378,000
698,117
(4,483)
(4,750)
14,008
2,731
41,243
(3,776)
(575)
(16,734)
61,825
27,519
5,970
-
4,000
126,978
825,095

34

continued...

Community Action Hampshire

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

24. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.21
£
Unrestricted funds
General fund
1,191,715
Designated Funds
Westgate Chambers Lease and
Maintenance
100,000
School for Social Entrepreneurs
Development
35,000
Action Hampshire Business Development
50,000
Fair Value reserve
1,035,306
Pension reserve
(2,212,000)
200,021
Restricted funds
Rural Community Action Network
-
VCSEP
4,750
Fratton Big Local
64,068
COMF
16,835
HIVE NHS First Responders
1,546
Solent LEP
11,825
Scottish & Southern Electricity Network
9,000
Hampshire Homes Hub
49,797
School for Social Entrepreneurs
-
HIVCA
-
Hampshire Rural Forum
-
Power to Change
-
HIWCF Strategic Digital Funding
-
157,821
TOTAL FUNDS
357,842		 Net
movement
in funds
£
(133,562)
(72,262)
-
-
238,651
626,000
658,827
4,483
-
(41,722)
(16,835)
(1,546)
(11,825)
(8,560)
(133,535)
(40,180)
15,657
575
1,812
16,734
(214,942)
443,885		 Transfers
between
At
funds
31.3.22
£
£
(159,368)
898,785
72,262
100,000
(35,000)
-
-
50,000
-
1,273,957
-
(1,586,000)
(122,106)
736,742
-
4,483
-
4,750
-
22,346
-
-
-
-
-
-
-
440
83,738
-
40,180
-
-
15,657
-
575
(1,812)
-
-
16,734
122,106
64,985
-
801,727

35

continued...

Community Action Hampshire

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

24. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Funds
Westgate Chambers Lease and
Maintenance
Fair Value reserve
Pension reserve
Restricted funds
Rural Community Action Network
VCSEP
Fratton Big Local
COMF
HIVE NHS First Responders
Solent LEP
Scottish & Southern Electricity Network
Hampshire Homes Hub
School for Social Entrepreneurs
Wessex Cancer Alliance
HIVCA
Hampshire Rural Forum
Catalyst Digital
Power to Change
HIWCF Strategic Digital Funding
TOTAL FUNDS		 Incoming
resources
£
164,484
92,633
-
-
257,117
46,095
17,500
52,723
-
(9,000)
26,100
-
19,866
37,353
179,091
25,000
5,300
10,000
-
-
410,028
667,145		 Resources
expended
£
(298,046)
(164,895)
-
(135,000)
(597,941)
(41,612)
(17,500)
(94,445)
(16,835)
7,454
(37,925)
(8,560)
(153,401)
(77,533)
(179,091)
(9,343)
(4,725)
(10,000)
1,812
16,734
(624,970)
(1,222,911)		 Gains and
losses
£
-
-
238,651
761,000
999,651
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
999,651		 Movement
in funds
£
(133,562)
(72,262)
238,651
626,000
658,827
4,483
-
(41,722)
(16,835)
(1,546)
(11,825)
(8,560)
(133,535)
(40,180)
-
15,657
575
-
1,812
16,734
(214,942)
443,885

Purposes of restricted funds:

Hampshire Rural Forum

Funding for Action Hampshire to provide the secretariat role for the Hampshire Rural Forum.

Power To Change

Funding to run the Community Business Trade Up programme.

Wessex Cancer Alliance

Funding to cover a social capital project to raise awareness of signs and symptoms of cancer, cancer screening and support early diagnosis within local communities

Fratton Big Local

Grants from Big Local to support the Fratton Big Local project in Portsmouth

Rural Community Action Network

The charity receives funding from Action with Communities in Rural England to finance the work of the Hampshire Rural Community Council

School for Social Entrepreneurs

The school offers a programme for individual social entrepreneurs to develop enterprises working for social benefit. From 2012 Lloyds Bank has been the main sponsor of the programme, with additional sponsorship from PwC for a separate short programme.

VCSEP

NAVCA -VCSEP Local Infrastructure Network Grant to support Action Hampshire's liaison role with the National Emergency Partnership.

36

continued...

Community Action Hampshire

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

24. MOVEMENT IN FUNDS - continued

COMF

Covid Outbreak Management Fund grant to focus on assessing impact of Covid on the Sector and its capacity to support the recovery.

HIVE NHS First Responders

Grant from the NHS to carry out research into volunteering during the pandemic in wider Hampshire. Action Hampshire have been commissioned to liaise with all the CVSs across Hampshire, Southampton and IOW to get data from their volunteer centres.

Solent LEP

Provision of Action Learning facilitators for the Solent LEP Peer to Peer Network Programme.

Scottish and Southern Electricity Network

Providing free, accessible and practical information to assist with day to day budgeting, saving money, saving energy and staying safe easier to understand.

HIWCF Strategic Digital Funding

Delivery of training, workshops and coaching aiming to build digital capacity in the sector.

Catalyst Digital

Developing 'digital' expertise within Action Hampshire.

Hampshire Homes Hub

Funding received from the Community Led Homes Enabler Hub Programme, funded by Ministry of Housing, Communities and Local Government’s (MHCLG) Community Housing Fund.

ICS Rend

Funding to support the ICS area Hampshire & Isle of Wight to be part of the Embedding the VCSE sector in ICS programme.

NIHR Greening for Wellbeing

Grant payment for Action Hampshire to deliver Greening for Wellbeing; looking at impact measurement of green/nature activities with underserved communities, including onward grants to VCSE organisations.

Accelerating Women in Enterprise

Funding from the School for Social Entrepreneurs, plus match funding, to accelerate women in enterprise.

Tackling Loneliness

Delivery of Communities Tackling Loneliness with Transport in Hampshire project

Purposes of designated funds:

Westgate Chambers Lease & Maintenance

Funding to provide towards the costs of leasing and maintaining Westgate Chambers, Winchester for the remaining years of the lease.

Action Hampshire Business Development

Funding to support the development of new business initiatives at Action Hampshire, this was delayed due to COVID and is planned to be spent over the next two years.

School for Social Entrepreneurs Development

Funding to support the 5 year contract period of the School for Social Entrepreneurs Hampshire. Transfers between funds

3 year strategy

Funding to provide towards the cost of investment in business development and operational costs particularly over the first two years, and significant changes at the organization relating to pensions, digital tools and business development.

37

continued...

Community Action Hampshire

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

25. EMPLOYEE BENEFIT OBLIGATIONS

The disclosures below relate to the funded liabilities within the Hampshire County Council Pension Fund (the Fund) which is part of the Local Government Pension Scheme. Action Hampshire participates in the Fund which up to 31 March 2014 provided defined benefits based on members' final pensionable salary. From 1 April 2014 the scheme provides benefits based on members' career average salary, with preserved rights for benefits earned under the final salary provisions.

Membership of the Local Government Pension Scheme was open to all the charity’s existing employees as at 31 December 2018, new employees from 1 January 2019 are eligible to join the NEST pension scheme. The employer’s contribution to the LGPS for 2022/23 is 21.8%, and the employee’s contribution is between 5.5% and 8.5% of gross salary. All contributors to the LGPS receive regular information from the Hampshire Pension Fund.

In accordance with Financial Reporting Standard 102, disclosure of certain information concerning assets, liabilities, income and expenditure related to pension schemes is required.

Post balance sheet event

Subsequent to the year end the charity negotiated that all 7 members of staff would leave the Hampshire County Council Pension Fund, which is part of the Local Government Pension Scheme (LGPS) on 31 August, and would transfer into the NEST pension scheme. The charity is currently waiting to hear from the LGPS whether there is an exit fee from the scheme. The charity has received an Indicative Exit Valuation from Hampshire Pension Services which worked to an assumed exit date of 1 July 2023. This valuation report shows a small surplus in the scheme for CAH as at 31 July 2023 of £0.182m. The pension service has confirmed that in the event of an actual exit, any surplus would be retained in the Fund, in line with the subsumption commitment in place and provided by Hampshire County Council.

Contributions for the year ending 31 March 2023

The Employer's regular contributions to the Fund for the accounting period ending 31 March 2023 are £54,000 (2022 £72,000). At 31 March 2023 outstanding contributions were £Nil (2022 £Nil).

The charity also makes payments to NEST, a defined contribution scheme. The costs for the period was £8,608 (2022: £9,611). At 31 March 2023 outstanding contributions were £1,986 (2022 £Nil).

Defined benefit Defined benefit
pension plans
2023 2022
£ £
Fair value of assets 5,164,000 5,740,000
Present value of defined benefit obligation (5,372,000) (7,326,000)
(208,000) (1,586,000)

The amounts recognised in the Statement of Financial Activities are as follows:

Current service cost
Net interest from net defined benefit
asset/liability
Past service cost
Actual return on plan assets		 Defined benefit
pension plans
2023
2022
£
£
129,000
156,000
42,000
46,000
-
-
171,000
202,000
(599,000)
275,000

38

continued...

Community Action Hampshire

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

25. EMPLOYEE BENEFIT OBLIGATIONS - continued

Changes in the present value of the defined benefit obligation are as follows:

Opening defined benefit obligation
Current service cost
Contributions by scheme participants
Interest cost
Actuarial losses/(gains)
Benefits paid
Remeasurements:
Actuarial (gains)/losses from changes in
demographic assumptions
Actuarial (gains)/losses from changes in
financial assumptions
Actuarial (gains)/losses from
changes in liability
experience		 Defined benefit
pension plans
2023
2022
£
£
7,326,000
7,645,000
129,000
156,000
15,000
20,000
195,000
159,000
-
(486,000)
(198,000)
(168,000)
(30,000)
-
(2,316,000)
-
251,000
-
5,372,000
7,326,000

Changes in the fair value of scheme assets are as follows:

Opening fair value of scheme assets
Interest income
Contributions by employer
Contributions by scheme participants
Actuarial gains/(losses)
Benefits paid		 Defined benefit
pension plans
2023
2022
£
£
5,740,000
5,433,000
153,000
113,000
53,000
67,000
15,000
20,000
(599,000)
275,000
(198,000)
(168,000)
5,164,000
5,740,000

The amounts recognised in other recognised gains and losses are as follows:

Actuarial (gains)/losses from changes in
demographic assumptions
Actuarial (gains)/losses from changes in
financial assumptions
Actuarial (gains)/losses from
changes in liability
experience
Actuarial gains
Asset gains(losses)		 Defined benefit
pension plans
2023
2022
£
£
30,000
-
2,316,000
-
(251,000)
-
-
486,000
(599,000)
275,000
1,496,000
761,000

39

continued...

Community Action Hampshire

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

25. EMPLOYEE BENEFIT OBLIGATIONS - continued

The major categories of scheme assets as a percentage of total scheme assets are as follows:

Equities
Government Bonds
Property
Multi Asset Credit
Cash
Other		 Defined benefit
pension plans
2023
2022
57.60%
55.70%
16.50%
18.00%
6.80%
6.90%
-
9.20%
1.10%
0.90%
18.00%
9.30%
100.00%
100.00%		 Defined benefit
pension plans
2023
2022
57.60%
55.70%
16.50%
18.00%
6.80%
6.90%
-
9.20%
1.10%
0.90%
18.00%
9.30%
100.00%
100.00%
100.00%

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):

2023 2022
Discount rate 4.70% 2.70%
Future salary increases 3.70% 4.00%
Future pension increases 2.70% 3.00%
CPI inflation 2.70% 3.00%
Pension accounts revaluation rate 2.70% 3.00%

The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement age 65 are:

At 31 March At 31 March
2023 2022
Current pensioners
Males 23.3 years 22.9 years
Females 25.7 years 25.4 years
Future pensioners*
Males 23.8 years 24.7 years
Females 26.7 years 27.1 years

26. RELATED PARTY DISCLOSURES

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

Julie Amies, a Trustee appointed in October 2019 is CEO of Energise Me, a charity which has rented 2 rooms in Westgate Chambers from March 2018. Rental income received from Energise Me during the year end 31 March 2023: £32,400 (2022: £32,400).

27. POST BALANCE SHEET EVENTS

Information regarding the exit of the defined benefit pension scheme is given in note 25.

40

continued...

Community Action Hampshire

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

28. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Losses/(gain) on investments
Interest received
Increase in provision
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Difference between pension charge and cash contributions
Net cash used in operations
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.22
£
Net cash
Cash at bank and in hand
120,165
120,165
Total
120,165		 2023
£
(670,905)
87,941
(64,820)
150,000
(54,657)
67,239
118,000
(367,202)
Cash flow
£
(44,802)
(44,802)
(44,802)		 2022
£
(317,115)
(238,651)
(73,378)
-
121,745
(213,896)
135,000
(586,295)
At 31.3.23
£
75,363
75,363
75,363

29. ANALYSIS OF CHANGES IN NET FUNDS

41