Gharity registration number 1054322 Company Tegistration number 3132487 (England and Wales) NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL LEGALAND ADMINISTRATIVE INFORMATION Trustees G Harris C Ruane L Jones S Mfilson K Bellis G Sandilands J Gardner N Donovan {Appointed 22 May 20241 Charity number 1054322 Company number 3132487 Registered office Naylor Leyland Centre Well Street Ruthin LL15 1AF Auditor Sage & Company Busines5 Advisors Lid 102 Bowen Court Sl Asaph Business Park Sl Asaph Denbighshire LL17 OJE Gamlins Solicilors Rhyl 33-37 Russell Ro8d Rhyl LL18 308 Sollcitorg
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL CONTENTS Page Trustees. report ststemenl of trustees, responsibilities Independent auditorfs report 10-11 Statement of financial activities 12-13 Statement of financial position 14-15 Slalement ot cash flows 16 Notes lo the finoncial 5talemenls 17-33
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Tlie trustees present their report and financial 31alements fDr the year ended 31 March 2024. NEWOL is a charity registered in Ilie Uniled Kingdom. The Charily Regi51ralion Number is 1054322. NEVWOL is incorporated as a company limited by guarantee and registered in Ihe United Kingdom, number 3132487. The accoLinls have been prepared iii accordance with the accounting policies set oul in note 1 to Ihe accovnls and coinply wilh the charity's conslilulion, the Companies Act 2006 and 'AccDunling and Reporting by Charities.. Slalemeiit of Recommended Practice applicable lo charities preparing Iheir accounts in accordancÈ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from 1 January 20161 Objectives and aetivities DVSC enables charities and community groups lo be niore effective and more connected, working together lo build a strong and vibrant Denbighshire. OVSC is a partner in Third Sector Support Wales,, a consoriium of the 19 Counly Volunl8ry Councils, Wales Covncil for Voluntary Aclion and Welsh Government. Thanks lo core funding from Welsh Government, we deliver Third Sector Support In Denbighshire, across four pillars of aclivily., Volunteering Good Governance Sustainable Funding Influencing & Engagement All our work and projects align wilh Ihis strategic framework o15UPPOrt and aim lo meet the 7 principles, and 5 ways ol working of the W811being of Future Generalioiis Act. The Iruslees have paid due regard lo guidance Issued by the Charity Commission in de¢iding what aclivilies the charity should undertake.
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perfomiance OVSC h85 canlinued to provide our services in support of the 3rd sector in Denbigh5hire. We provided granls and funding advice. volunteering support, governance advlce and helped our sector engage and influence our public sector partners, and Welsh Government. We also developed a deeper partnership beeen the 3rd Seclor and Belsi Cadwaladr University Health Board, and further extended our community led Dementia Awarenes5 Denbighshire project. In terms of new projects for 202&2024, DVSC has launched a major Key Fund project, as part of the UK Government's Shared Prosperity Fund. This rnajor projecl provides capital and revenue grants to the Denbigh5hire 3rd SectOT, aimed al improving 5uslainability snd resilience. Additional lo the grants, this Key Fund offers a range Df Ma5terclass training Courses, one to one coaching, action learning sets, and direct support lo new social enterprises. Finally. we have partnered with the Albert Gubay Foundation and Social Enterprise Academy to deliver a 2 year Schools Social Enterprise project with schools in Rhyl, building on the entrepreneurial skills and community leadership of children and young people in 6 5choo15 in Rhyl. In terms of new starters. we have appoinled both a Manager and a Monitoring Officer for our Key Fund project. The rest of the staff team has remained stable. We continue lo invest in our team, to support their growth, motivation and skills. We continue to work in a hybrid model Ihal supports flexibility and teamwork. We work hard lo nvrture our progre85ive. kind and supportive workplace culture. oard The Board has remained stable this year. with one Irustee leaving and one joining after the year end. Volunteering remains at the core of what we do and what we support. We celebrale, promote, match and support volunteers and work with our members to ensure they provide a quality experience for volunteer5. This year we have.. Organised two volunteer fairs and three VIO (Volunteering Involving Organizationsl neOrkIng events Collaborated with volunteer-led organisalions to raise awareness of their work Organised a VolunleerAwards ceremony Created 'Spollighl' awareness campaigns Supported volunteers wilh barriers to participation towards rewarding opportunities
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Goven?ance Providing advice on good governance is at the heart of DVSC'S role. We provide inforrnalion, advice, one lo on8 consvllancy, training and networking opportunitie5 for Third Seclor organisations Ihal iieed support in how Ihey operate and are governed. We provide access lo a range ol infomiation 5heels and 5ignposling lo the TSSW Knowledge Hub webs11e. A great deal of our Key Fund 321 Maslerclass programme is aimed at supporting how Third Sector organisations are sel up and run, for example how lo measure impact. an(J how lo manage change. Additionally we Tan one on one Build 115UPPOrt sessions for people startsng up and at early slages of development of social enterprises. Funding Grai?Is In 2023-2024, In addition lo the Key Fund. DVSC administered S different luiids across Denbighshire. 42 projects were funded, lotalling £207.980. To give an idea of demand. we had 100 lolal applications received across the grant founds, lolalling £534,110. Demenlia Aware Community Led Grant - 17 projects applied lor the gfanl. lotalling £69.296 in applications requested. 10 projects were funded. lolauing £41.182. Welsh Church Act Grant - 11 successful projecls lunded across Denbi9hshire, lolalling £5,291. This year, Ilie Welsli Church Acl Grant funde(J a variely ol different proiecls. including Food banks, arts and crafts courses, magazine workshops and a sensory garden. Youih Led Grant The youth-led panel assessed 11 applications lolalling £24,150, making four successful applications lolalling £7.804, benefiling 292 young people. Loneliness and Social Isolation Grant - Denbighsl)ire County Council IDCCI worked with DVSC lo continue lo run a Loneliness and Social Isolalion Granl. 14 projecls applied for ihe grant, lolalling £56,690. 7 projects were funded, lolalling £22.727. DVSC worked in partnership with Denbighshire County Council lo deliver the Volunlary Sector Grant. 32 projects applied for the grant. 10 projects were funded. iolalliiig £130.976. 60 volunleers contributed 10 the funded projects, and 294 beneficiaries benefitled from Ihe activllies. Key Fuiid.. DVSC wa5 successful in securing a major Key Fund projecl as part ol the UK Govemmenl's Shafed Prosperity Fund. The Key Fund is focused on making significant revenue and capilal grants 10 shore up the resilience and 5uslain8bilily of Ilie 3rd sector in Denbighshire. As well as grants, Ihe Key Fund also delivered a range of Masterclass training courses, one lo one consultancy and coaGhing, and Olher 5UPPOrt. Round One of the Key Fund was launched on 1st September 2023. In Rouiid One. £275.000 in Capilal and £303,789 in Revenue graiit were available, as well as £20,000 of smaller granls under the Acorn Fund lor new enlrepreneur5. A lolal of 82 applications lo the Key Fund were received from a diveT5e spread Of organisations and groups, and from a good range of geographic locations across the county- 33 grants were awarded lo 30 organisalions. 22 were Revenue granls and a further 11 were Capital gTanls The average Size of Ihe Revenue granls awarded was £13,807 The average size of ihe Capital grant5 awarded was £24.957 We awarded Key Fund grants of £598,789 in total in 2023-24.
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 We wish to thank the volunteer grant panellists for our Key Fund, Youth Grants and overall grants programmes, who ensure an independenl and objective communily voice is part of the process, mitigating bias, ensuring regional representation and leading io equitable and effective grant distribution. DVSC staff also lake part in Ihe pane15 of other maior regional funders including Gwynt Y Mor and Burbo Bank among others. We organise regular well attended Funding Fairs 13 across the county in 21241 and Meet the Funder events. and advise on other grants that organisations can apply for. Total Grants Awarded.. Fund Number of grants made Total allocated Welsh Church Act Fund Youth-Led Grants Demenlia-Aware Community Led Grant DCC Sociallsolalion & Loneliness DCC Voluntary Sector Grant Key Fund Round 1 11 £5,291 £7.804 £41.182 £22,727 £130.976 £598,789 10 10 33 Total 75 £806,769 InflLienciiig & Eng8genF8nt DVSC continues lo represent the Denbighshire Third Sector and help il lo work closely with Denbighshire County Council. Belsi Cadwaladr University Health Board. and a range of other public bodies. We do this through membership of.. Conw and Denbighshire Public Service Board Conwy and Denbi9hshire Area Integrated Service Board Denbighshire Integrated SeNice Forum Denbighshire Pan Cluster Planning Group .as well as many more. We also lake part in a number of other national forums and networks through Third Sector Support Wales including our Chief Officer being Chair of the Governance Praclilioner Group. In 2023 we established the Denbighshire Third Sector Influenrin9 Group, with represenlation from a range of sectors among the 14 voluntary members. We collectively look lo discuss, raise and communicate mallers ol concern and collective interesl to our public sector partners. Thi5 new Group mel 3 limes in the year.
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Partnership with 8etsi Cadwaladr University Health Board The role of DVSC'S Wellbeing Partnership Managei Is to ensure informalion is disseminaled between the various seclors across heallh and social care. We allend various meetings with Third sector organisalions, the Denbiglishire Counly Council and Belsi Cadwaladr University Health Board. For exarnple, OVSC along with other CVCS were asked lo be partners in a celebration event focused on what Social prescribiiig brings lo the community. This Involved various hours supparting Public Health in their reporting ol the added value from social prescribing and what il brings lo the health and wellbeing of those that lake part, resulting in a really well allended, valuable day. As well as bringing (he Third Sector into a range of meetings and events and building lasting partnerships, we contributed lo Ihe development of the Inverse Care Law piojecl and the development of Clusters. the delivery ol Regional Integration Fund and related proje¢ls, and hosling the North Wale5 Third Sector Network meeling in Denbighshire. Our work is held 109elher by the four Denbighshire ThiTd Sector Wellbeing Nelwork meelingg that we hold each year, Dementia Awar8 Denbighsl)ire Demenlia Aware Denbighshire 15 funded from the Welsh Government's Regional Integration Fund. 11 Is an eslablist)ed project supporling community-led support for people living with dementia 8nd their carers. In 2023-24 we delivered.. 36 Demenlia Friends Sessions lo speclfi¢ groups 11 public online ses510ns Creating a lolal of 519 Dementia Friends Created a replacemenl accredilalion scheme lo succeed the Alzheimer's Society 'Demenlia Friendly Communilies, scheme for Nonh Wales, in partnership with the North Wales Regional Partnership Board Or9anised 5 bi-monthly Dementia Aware Denbighshire Network meelings with a range of guest speakers We ran a lace-lo-face event in O¥iel House in March which was open lo all and exlremely well attended by professional6, members ol the public, people liviiig witli dementia aiid caTei's Cen Naylor Leyland Centre in Rulhin continues lo be our home flexible office space for our hybrid team to come together and work from, aiid a community building wilh excellent meeting and event facililies used by a diverse range ol Denbighshire'5 3rd Seclor organisalion5. We have invested this year in mDre modern table5 to ensure Ihal we can sel up for evenls more quickly and safely. We have also restarted a process wilh Denbi9h5hire Couiity Council around an asset transfer of the buildiiig from DCC'S Corporate Trusteeship lo DVSC'S ownership, wliich we hope lo complete in 2025. Flnancial review Financial performance showed an increase iii income to £1.327.742 from £815.595 in 2022-2023. The charity ended the year with a surplus of £30,178. This perforrnance was p8rt1y due lo the scale and ambition of the Key Fund prDjecl and other new projects iiicluding Ihe Rhyl School Social Enlerpri8e project. 35 well as contiiiued arelul Inanagemenl of expendilLire. Risk Manageme171 The DVSC Board discusses the charity's risk register al Board meetings. Addilion311y the Bo3rd reviews risk when budget selling and Selling Ilie appropriale level of reserves. The Board are nolified Iii Ihe event of 5ignifi¢ant adverse variances lo the risk register and any Linexpecled impact outside the annual repDrling cycle.
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 ReseThes Policy The ReseNes Policy is reviewed annually. Qur Liquid Reserves al the start of the year was increased lo £235,232. DVSC'S reserves policy for the financial year, as agreed by the Board, wa5 based on the following requirements". Redundancy payments Salary in lieu of notice and other monies agreed as owed lo staff salary running costs (for the core leaml ideally not less than 3 months overheadslrunning costs ideally of not less than 3 months funds set aside for setNicing any long-lerm contracts the cost of repairs lo the building due lo repairing lease sufficient funds lo cover any deficit in resources for restricted projects, and to provide for the potential risk of funding being reclaimed grant fund5 Irestricled income) held in reserve until the grants are approved and disbursed Biidget sètfiiig The financial position Iwilh an increase in reserves) provided the Board with assurance that DVSC remains on a positive trajectory., and continues lo deliver business growth wilh signiff cant tree reserves. Looking lo the Fiilu The BDaTd remains committed lo developing DVSC'S SUPPDrt lo the sector whilst managing risks, and finances prudently. in line with their truslee duties. The focus for the year ahead is on delivering the Key Fund project, whilst learning more about what the sector needs and desSgning successor programmes. The Trustees, aim, working in partnership with ihe Chief Officer, is lo ensure that DVSC provides a sustainable sector support service in Denbighshire, with staff resource proportionate lo the funds provided. and with sufficienl inlernal capacity and capability lo meet new opportunitie5. DVSC has secvTily in lerms of its ¢ore Third Sector Support Wales grant from Welsh Government, agreed until end of March 2025. The Demenlia Aware Denbighshire project funding has been exlended a further year lo the end of March 2025 with a view to this being delivered until 2027. Our work with BCUHB is gTowing in impact and we look lo maintain this contract and lung term relationship. Risks on these funding SDurce5 have been assessed and informed the budget setting process. Structure, governance and management The Charity is a private limited company by guarantee without share capital. Registered Office.. Naylor Leyland Cenlre, Well Street, Ruthin, LL15 1 AF Advisers to the Company: Sr)licilors'. Gamlins, 31137 Russell Road, Rhyl LL18 3DB Bankers." BaTclay5 Bank Auditors.. Sage & Company Business Advisors Ltd. 102 8owen Court, StAsaph Business Pafk. St Asaph. LL17 OJE
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tlie Iruslees, wl)o are also Ihe directors for Ihe purpose of compaiiy law. aiid who served during the year and up lo Ihe dale of 5ignaltsre ol the financial slatemenls were- G Harris C Ruane L Jones Rl Hon D Hanson S Wlson K Bellis G Sandilands J Gardner N Donovan (Resigned 11 July 2024> {Appoinled 22 May 20241 Chief Officer.. Mr Toni Barham Legal responsibility for the control ol DVSC'S activities and funds lies wilh the 8oard of Director5. Day lo day leadership and management ol the charily is delegated lo the Chief Officer. Directors are appoii)led and retirè in accordance with the company's Articles of Association. The Articles were renewed in 2022 and Directors can seNe a rnaximuni of 2 terms and a lolal ol G yeaTS. The 8oard of Direclors colleclively ensure Ihal Ihe income and property of the Gharily is applied for the purposes sel out in the MemoTandum and Articles olAssocialion and for no olhei purposes. The Directors are responsible for all decisions in relation lo slrategy and budgets. DVSC'S Chief Officer reports directly lo the Board of Directors and is responsible for workiiig wilh and supporting the Board in line with the PTinciples and practice ol good govemance aiid providing day lo day leadShiP and management of the organisalion. Transactions wlth related parties There ale no Conflicts of interest lo repori in relation ta transactions with related partiés. Auditor In accordance with the company's arlicles. a resolution proposing that Sage & Compaiiy Busiiiess AdiAsors Lid be reappoiiiled as audilor of the company will be put at a General Meeling. Disclosure of audit i nfomation Each of the truslee5 has confimed Ihal there is iio infomiation of which Ihey are aware which is relevant lo the audit. but of which Ihe auditor is unaware. They have furlher confiTrned that Iliey have taken appropriate steps lo idenlify such relevant information and to e51abli5h that Ihe auditor 15 aware of such information.
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Each of the Iwstees has confirmed that there is no information of which they are aware which is relevant to the audit, bul of which the auditor is unaware. They have further confirmed that they have taken appropriale steps to identify Such relevant infomialion and to establish that the auditor is aware 01 such information. The trustees. report was approved by the Board ofTwstees. S Wilso Chair 29 August 2024
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 Tlie trustees, who are 8150 the directors of NEWVOL for Ihe purp05e of company law. are responsible for pieparing the Trustees, Report and the financial slalements in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Apted Accounting Practice). Company Law requires the trustees lo prepare financial slalements for each financial year which give a true and fair view of the slate of affairs of the charity and of Ihe incoming resources and applicaiion of resources. including the income and expendilure. of the charitable company for that year. In preparing these financial stalements, the trustees are required to.. select suilable accounting policie5 and then apply them consistently.. observe the methods and principles in the Chanlies SORP. make judgements and eslimales Ihal are reasonable and prudent: and prepare the financial slatemeiils on the going Goncern basis unless il is inappropriale lo presume Ihal the charity will continue in operation. The Iruslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any lime Ihe financial posilion of the ¢harily and enable 1hem lo ensure Ihal the financial slatemenls comply with the Companie5 Act 2006. They are also responsible for safeguarding the assets of the charity and hence foi taking reasonable steps for the prevention and +Jeleclion of fraud and oltter irregularities. The Iruslee5 are responsible for the mainlenance and inlegrily of the charity and financial infomalion included on the charity's web51te. Legislation in the Uniled Kingdom governing the preparalicn and disseminalion of financial statements may differ from legislalion In other jurisdictions.
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF NEINVOL Opinion We have audited the financial statements of NEW/OL (the 'charty'} for the year ended 31 March 2024 which omprise the slatemenl of financial activities. the statement of financial position, the slalement of cash llows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Th8 Financial Reporting Standard applicable in rhe UK and Republic ol Ireland (United Kingdom Generally AGcepted Accounting Pr3clice). In our opinion. the financial slatemenls.. give a true and fair view of the slate of the chatitable company s affairs as al 31 March 2024 and of ils incoming resources and application of resources. for the year then ended. have been properly prepared in accordance wilh United Kingdom Generally Arcepled Accounting Praclice,, and have been prepared in accordance with the requirements of the Companies Act 2006. Basis f or opinion We conducted our audit in accordance with Intemational Standards on Auditing IUKI {ISAs IUKI) and applicable law. Our respon5ibililies under those standards are further described in the Audilorfs Sponsibl1111es for Ihe oudil ol rh8 linancial slalemenls section of our reporl. We are independenl of the charity in accordance with the ethical requirernents that are relevant to our audit of the accounts in the UK, including the FRC'5 Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with Ihese requirement5. We believe that the audit evidence we have obtained is suiTicient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls. we have concluded Ih81 the Iwstees. use of the going concem b8S15 of accounting in the preparation of the financial statements is appropriate. 8ased on the work we have performed, we have not identified any material uncertainlies relating lo events or conditions thal, individually or collectively, may cast significant doubt on the charity's ability lo continue as a going concern for a period of at least e1Ve months from when the financial statements are aulhorised lor issue. Our re5ponsibililies and the responsibililies of the trustees with respect lo going concem are described in the relevant seclions of thi5 report. Other inf ormation The olher information eompris*s Ihe information included in the annual report Olhef than Ihe financial stalemenis and our audil0rf5 report thereon. The Iru51ee5 are responsible for the olhef information contained within the annual report. Our Dpinion on the financial 5talemenls does nol cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the course of Ihe audit. or otheiSe appears lo be materially misslated. If we identify such material inconsistencies or app3renl material misstalemenls. we are required lo delermine whelher this gives rise lo a malertal mi55t3lemenl in the financial slalemenls themselves. If, based on the work we have performed, we conclude that there is material mi5slatement of thi5 Dther information. we are required lo report that facl. We have nothing lo report in this regard. Matters on which we are required to report by exception We have nothin9 to report in respect of the following matters in relation to which the Charities (Accounts an¢J Reports) Regulations 2008 require us to ieport to you if, in our opinion.. the informalion given in the financial statements is inconslstenl in any material respect wilh the trustees, report, or sufficient accounting record5 have not been kept" or the financial statements are not in agreement with the accounting records- or we have not received all the infomalion and explanations we require for our audit. 10-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF NEWVOL Responsibilitie5 of trustee5 As explained more fully in the slalement of Iruslees, responsibililies, the Iruslees, who are also the direcloT5 of the charily for the purpose of company law, are responsible for the preparation ol l*e financial statements and for being satisfied that they give a Iiue and fair view, and for such internal conlrol as th? Iruslees determine is necessary lo enable the preparation of financial slalemenls that are free from material misslalemenl, whether due to frxud or error. In preparing the financial slalemenls, the Iruslees ale responsible for asse55in9 the charity's ability lo coiilinue a5 a gDing concern. disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Iruslees eilher iiilend lo liquidate the charitable compaiiy or lo cease operations. or have no realistic aliernalive bul lo do so. Audilorfs responsiljilities for the audit of th• financial statements We have been appointed a5 auditor under section 144 of the Charlties Act 2011 and report in accordance with Ihe Act and relevant regulalioiis made or having effect Ihereunder. Ou r objectives are lo oblaiii reasoiiable assuranc8 aboul whether the financial slalemenls as a whole 8re free from alerial misslalerneiit. wlielher due lo fraud or error. and Io issue an audilor's report that includes our opinion. Reasonable assuraiice is a high level of assurance. bul is not a guarantee Ihal an audit conducled in accordance with ISAS IUKI will always delecl a material misstatement when it exists. Misslalemenls can arise from fraud or eTror and are considered material if, individually or in the aggregate. they could reasonably be expected lo Influence Ilie econoinic decisions of users taken on the basis Df these financial glalemenls. As part of audit in accordance wilh ISAS IUKI, we exercise professional judgement and maintain professional sceplicism throughout the audil. Tlie extent lo which our procedures are capable of delecling irregularities, including fraud. is detailed below. A further descriplioii of our responsibilities is available on the Financial Reporting Council's website al.. hltps'.11 www.frc.org.uklauditDrsresponsibililies. This description forms part ol our auditor's report. Use of our report This report Is made solely lo the charity's trustees. as a body, in accordance with part 4 of the Charities (Accounts and Reportsl Regulations 2008. Our audit work has b¢¢n undertaken so that we rnight slate lo the charity's Irusiees those maller5 we are required lo stale lo them ii) an audilors, report ai)d for no other purpose. To the fullest exleiil permitted by law, we do not accept or assume responsibility to anyone other than Ilie charity and the charity's Iruslees as a body. for our audil work. for this report. or for the opinions we have formed. 01 ChTlStopher Mo s BA ACA (Senlor Statutory Audilorl for and on behalf of Sage & Company Business Advisors Ltd 29 August 2024 Chartered Ac¢ountant3 Statutory Auditor 102 Bowen Court Sl Asaph Business Park Sl Asaph Denbighshire LL17 OJE Sage & Company Business Advisors Lid is eligible for appoinlmenl as auditor ol the charity by virtue ol ils eligibility for appoinlmenl as aLJdilor of a company under Section 1212 of the Companies Act 2006.
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NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL STATEMENT OF FINANCIAL POSITION AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Intangible 355e15 Property, plant and equipment 16 15 1 ,200 32,405 1,800 40,101 33,605 41,901 Current assets Trade and other receivables Cash at bank and in hantl 17 54,427 471,399 105,889 392,086 525,826 117,6971 497.975 {25,7091 Current liabilitie5 18 Nel current assets 508.129 472,266 Total assets less current Ilabllltles 541,734 514,167 Non-current liabilities 19 {5,2221 (7,833) Net assets 536,512 506,334 Income fund5 Restricted lunds 21 57,362 71.707 Designated funds General unrestricted funds 22 539 478,611 1,031 433,596 479,150 434,627 536,512 506,334 14-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL STATEMENT OF FINANCIAL POSITION (CONTINUED) ASAT31 MARCH 2024 The direc1015 acknowledge their re5ponsibililies for complying wilh the requirements of ihe Companies Acl 2006 with respect lo accounting records and Ihe preparats'on of financial slatements. These financial slatemenls have been prepared in accordance with the provisions 8pplicable lo companies subject lo Ihe small companies regime. The financial slalemenls were approved by the Tru51ees on 29 August 2024 S Wilson Truslee Company registration number 3132487 15-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from opernting activities Cash generated from operations 28 78,72g 73,344 Investing activities Purchase of propety, plant and equipment Investmenl income received 11,416) 2,OOD 19.1331 382 Net cash generated fromllused in) investing activities 584 (8.751) Net cash used in financing actlvllie5 Net increase in cash and cash equlvalents 79,313 84,593 Cash and cash equivalents at beginning of year 392,087 327,494 Cash and cash equivalents at end of year 471,401 392,087
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information NEWOL is a private compsny limited by guarantee incorporated In England and Wales. The registered office is Naylor Leyland Cenlre, Well Sli eel, Ruthin, LL15 1 AF. 1.1 Accounting conventlcn The financial statements have been preparod in accordaiice with the charity's MemoTandum of Association the Companies Acl 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102,1 and the Charitie5 SORP "Accounting and Reporting by Charities.. Slalemenl ol Recommended Practice applicable lo charitie5 prepariiig their accDunls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The charity is a Public Benefit Entily as defined by FRS 102. The financial slalements are prepared in sterling, wliicli is the functional currency of the ch8rily. Monetary amounts in these financial s121ements are rounded to the nearest £. rhe financial slalemenls have been prèpared under the hSstOriCg1 Gost coiivenlion. 1.2 Golng concern Al the time of approving the financial slalements, the Iruslees have a reasonable expectation that the charity has adequate resources lo continue in operatlonal existence for the foreseeable future. Thus the Iruslee5 continue to adopt Ihe going concern basls of oc¢ounling in preparing the finaiicial slatemenls. 1.3 Charltable funds Unreslricled fund5 are available for use al the discretion of the Iruslees In furtherance of Ihelr charitable objectives. Restricted funds are subject to specific conditions by doiiors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial slalemenls. Endowment funds are subject to specific conditions by donors that the capilal musl be m8int8ined by the charily. 1.4 Income Income generated from charitable activities is recogiiised upon receipt. Investment, membership and other income are recognised on an accruals basis. Income is defeired only when income is received in advance at the year end and the perfomiance criteria relates lo a future accounting period. In accordance with the Charitie5 SORP IFRS 1021. the economic Contribution of volunteers 15 not recognised iii the financial statemen15. Further details of the contiibulion made by volunteers can be foLind in the Trustees Report. 1.5 ExpEndlture 17-
NEVVVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AccountirF9 policies (Continued) Expenditure on charilable activities is recognised once there is a legal or conslTuclive obligation committing charity lo the expenditure. Contractual arrangements are recognised as goods and services are supplied. Expenditure is classified under the following activity headings.. Expenditure on charitable activities indudes all activities undertaken to further the purposes of the Gharity and their associatèd support costs. Governance costs include those incurred in the govemance of the charity and its assets and are primarily associated with conslilutional and slatutory requirements. Support costs include central functions and have been allocated to activity Cost categories on a basis consistent with the use of resources.. this is done on the basis of stsff time attributed to each activity cost category. 1.6 IntangSble fixed agsets other than goodwill Intangible assels acquired separately from a business are recogni5ed at cost and are subsequently measured al cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill al the acquisition dale where it is probable that the expected future economic benefits that aTe attributable to th8 asset will flow lo the enlily and the fair value of the asset can be measured reliably-. the intangible asset arises from conlraclual or other legal rights. and the intangible asset is separable from the entity. Amortisalion is recognised so as to write off the cost or valuation of assels less their residual values over iheir useful lives on the following bases.. Website Straight line over 4 years 1.7 Property, plant and equlpmenl Property, plant and equipment are initialty measured at cost and sub5equenUy measured al cost or valuation, nel of depreciation and any impairment losses. Deprecialion is r¢cognised $0 33 to write off the GO•t or valuation of a55et8 Ic55 Iheir residual values over their uselul lives on the following bases- Leasehold improvements Computers Straight line over 7 years Straighl line over 3 years The gain or1055 arising on the disposal of an asset is delemiined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the staiemenl of financial activities. 1.8 Impaimient of non-current assets At each reporting end date, the charity reviews Ihe carying amounts of its tangible and intangible assets to determine whether there is any indicats.on that those assets have suffered an impairment loss. If any Such indication exists. the recoverable amount of the asset is eslimaled in order to determine the extent of the impaimienl Ioss lif anyl- 1.9 Cash and cash equivalents Cash and cash equivalenls indude cash in hand. deposits held at Gall with banks. other short-lerm liquid investmenls with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 18-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accou nting policies Iconlinuedl 1.10 Financial instruments The charity has elected lo apply the provisions of Section 11 'Basic Financial Inslrumenls, and Section 12 'Olher Fiiiancial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial inslrumenls are recognised in the charity's balance sheet when Ihe charity becomes party lo the conlraclual provisions of the inslrumenl. Basic financial assets Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured al Ir8nsaclion price including transaction costs and are subsequently carried al amorlised cost using the effective interest method unless the arrangement conslituleg a financing transaction, where the transaction is measured al the present value of the future receipts discounted al a market Tale of inleresl. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, Including trade and other payables and bank loans are InStially recognised al transaction price unless the arrangement conslilules a financing Iransaclion, where the debt instrument is measured al the present value of the future payments discounted al a mgrkel rale of interest. Financial liabilities classified as payable within on8 year are not amortlsed. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 1.11 Relirement benefits Payments lo defined GontribulSon relirernent bellefit schemes are charged as an expense as they fall due. Crltlcal accounting estimates and judgements In the application of the charily's accounting policies, the trustees are required lo make judgements, eslimales and 8ssumplions about the carrying amount of assels and liabilities that are not readily apparent fiorr other sources. The estimates and associated assumptions are based on historical experience 8nd other factor5 that are considered lo be relevant. Actual results may differ frorn these eslimales. The eslimales and iinderlying assumptions are reviewed on an ongoiiig basis. Revisions lo aceounling estimates arp recognised in the period in which the estimate is revised where the revision affects only Ilial period, or in the period of the revision and future periods where the revision affects both current and luture periods. 19-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities General Activities 2024 General Activities 2023 Management lee Other income 1,514 11,236 17.590 17,590 12,750 Analysis by lund Unrestricted funds - general Unrestricted funds - designated Reslricled funds 16,640 11.236 1.514 950 17,590 12,750 Other trading activitles Unrestricted Unrestricted Restricted funds funds lunds designated designaled 2024 2023 Total 2023 2023 Lettin9 and licensing arrangements 433 7,865 {53) 7.812 Inve51ments Unrestricted Unrestricted funds funds general general 2024 2023 Inleresl receivable 2,000 382 20-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donations and legacies Unrestricted Unrestricted Restrlcted funds funds funds general designated Total 2024 Total 2023 Donations and gifts Grants receivable 500 500 1,307,219 210,719 1 ,096,500 794,651 210,719 500 1 ,095,500 1 ,307,719 794.651 For the year ended 31 March 2023 194,279 29,266 571,106 7g4,651 Donations and glft8 Olher 500 500 500 soo Grants recvivable lor core activities WCVA Oenbighshire CC Bets1 Cadwaladr Cadvryn Clwyd Foodsense Wales Market Hall Albert Gubay Foundalion Gwynedd CC 200,052 10.668 6.650 283.735 40,456 206,702 294,403 40,456 190,463 397,936 40,663 126,007 7,500 29,266 23,373 742,286 23,373 742,286 210,720 1,096,500 1,307,220 791 ,835 Raising funds Unrestricted Unrestricted fund5 fund¥ general general 2024 2023 Depre¢ialion and impairment 9,712 23,412 9,712 23,412 21
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Staff costs Staff travelling expense5 Printing, st81ionery & photocopying Computer running expenses Office deaning Telephone Advertisinglpromotion Insurance Renl & premises Subscription5 Translation Maintenance & repairs Professional fees Meelingltraininglseminar expenses Trustee expenses Bad debt write off Rulhin Market Hall Projed disposal Project costs 266.744 3.113 1,175 7,620 228.251 3,842 647 5.143 137 1.660 14,880 1,230 8,064 182 1.203 12,439 4.164 2,755 58 780 34,177 249,043 2,552 3,939 1.500 10,444 237 1,862 5,490 4,969 11,9S4 63 37,095 358.757 568,655 Grant funding of activities (see note 101 786,728 151,044 Share of support costs Share of govemance costs 131,735 9,030 107,357 7,770 1,287,852 834,826 Analysis by fund Unreslricied lunds - general Unrestricted funds - designated Reslricled funds 188,816 1,425 1,097,671 1,287,852 For the year ended 31 March 2023 Unre5tricled fund5- general Unre5tricled funds - designated Restricted funds 202,036 37,614 595,176 834.826 22-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustee5 Expenses lolalling £28.9912023 £1.259.96) were reimbursed lo 1 12023 - 11 Iruslees. None of the Iruslees (or any persons connected with them) received any other remuneration or benefits fiDm the charity during the year. 10 Grants payable 2024 2023 Grants lo individuals (sorted by projecti.. Gwirvol Youth Shared Prosperily Fund DCC Volunalary Organisations Welsh Churches Age Friendly Nation Croeso Cynnes Warm Hubs RIF DAC Loneliness & Social Isolation Lollery Young Dragons Winter Pressures 7,804 578,874 130,976 5,291 4,960 9.534 33.240 38,793 34,558 7,010 22,727 40,804 22.727 252 222 786,728 151.044 During the year. Denbighshire Volunlary Services Council was given the lask of dislribuling grant monies on behalf of other organisations. as detailed above. Thè monies received for distributioii is not inoome of Denbighsliire Voluntary Services Council. A management charge was levied lo the levant organisalion for this service. 11 EmpSoyees The average monlhly number of employeeslDVSC assooales during Ihe year was.. 2024 Number 2023 Number 10 Employment Costs 2024 2023 Wages and 5alarie5 other pension costs 304,654 22.696 240,904 18,083 327,350 258,987 23-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Employee5 (Continued) DVSC also ha5 35 {2023- 321 regular volunteers, including the trustees. There were no employees whose annu81 remuneraliDn was more than £6a,000. 12 Taxation The charity is exempl from lax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the exlènt that these are applied lo ils charitable object5. 13 Support costs Support Governance costs costs 2024 Support Governance costs costs 2023 Staff costs Accountancy fees 6ook-keepin9 fees Bank charges Qlher support costs 88,538 8,527 5,720 146 30,804 86,538 8,527 5,720 146 30,804 88,348 9,253 3,707 192 25,857 68.348 9,253 3,707 192 25,857 Audit and accountancy fees 9,030 9,030 7,770 7,770 131,735 9,030 140,765 107,356 7,770 115,127 Analysed beeen Charitable aclivilies 131,735 9,030 140,785 107,357 7,770 115,127 Governance costs includes paymen15 to the auditors of £9,030 12023 £7,770} for audit and accounlancy fees. 14 Transfers Transfers relate to the transfer of fixed assets and the managelnenl fee from ea¢h restricted fund to the unreslricted. core fund. 24-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Property. p13nt and equipment Leasehold Improvgrnents Computers Total Cost At 1 April 2023 Additions 63,780 14,871 1,416 78,651 1,416 Al 31 hAarch 2024 63,780 16,287 80,067 Depreciation and Impalrment Al 1 April 2023 DepreGialion chaiged in the year 25,469 9,112 13,081 38,550 9,112 Al 31 March 2024 34,581 13.081 47,662 Carrying amount At 31 March 2024 29,199 3,206 32,405 At 31 March 2023 38,311 1,790 40,101 16 Intangible fixed assets Wobsile C05t Ai 1 April 2023 and 31 March 2024 2,400 Amortisatlon and Impaimient Al 1 April 2023 Amortisation charged lor the year 600 600 Al 31 March 2024 1,200 Carrying amount Al 31 March 2024 1,200 Al 31 March 2023 1,800 25-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Trade and other receivable5 2024 2023 Amounts falling due within one year.. Trade receivables Prepayments and accrued income 24,699 29,728 100.928 4.961 54,427 105,889 18 Current liabilities 2024 2023 Notes Other taxation and social se¢urity Government grants Trade payables Other payables Accruals and deferred income (3,2791 7,609 1,554 1,776 10,037 (5,0001 16,651 2.670 1,284 10,104 20 17.697 25.709 19 Non.cumpnt liabilities 2024 2023 Notes Government grants 20 5,222 7,833 20 Government grants 2024 2023 Deferred income is included wilhin.. Current liabililie5 Non-current liabilities 7,609 5,222 16,651 7,833 12.831 24,464 Movements in Ihe year". Deferred incorTre at 1 April 2023 Released from previous period5 Resource5 deferred in the year 24,484 1840,148) 828.495 71,586 161.142} 14,040 Deferred income at 31 March 2024 12,831 24,484 -26-
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NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Designated funds The income funds of ihe charity include the following designaled funds which have been set aside out of unrestncted funds by the trustees for specific purpose5'. Movement In fund5 Movement in funds Incoming resourees Incorning resourees R•sourees expended Balance at 1 April 2023 Rg8ourc¢¥ 8alaDse a¢ xpended 31 Narch 2024 Market Hall 38,645 137,614) 1,031 933 11,425) 539 38,645 {37,6141 1 ,031 933 11,425) 539 In 2020 an arrangement was entered into with Denbigh5hire County Council to repurpose Rvlhln Market Hall as a social enterprise market and event space. Through the support of a Community Renewal Fund ICRFI, in partnership with Cadwyn Clwyd. the project was successfu51y completed and in December 2022 was spun out to Ruthin Artisans Marke15 CIC lo manage. Whilst standing back from the daily operations of the venture the Trust will continue lo monitor the future activities lo ensure they remain consislenl with the objectives as agreed with Denbighshire County Councll. -30-
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NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Retirement benefit schemes Delined contribution schernes The charity operates a defined conlribulion pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Gharity in an independently administered fund. The charge to profil or loss in respect of defined contribution schemes wa5 £22,696 {2023 £18,0831. 25 Related party Iransactlons Remuneratlon of key mana9ement personnel The remuneration of key m3nagemenl personnel 15 as follows. As restated 2023 2024 Aggregate cornpensalion 56,492 51,128 Transactions wilh related partles The following related party transactions took place during the year.. Book of You CIC., current Chief Officer was a director until 5 April 2022, and their partner wa5 a Director Paylnents ol £17,26312023'. £4.879), and re¢eipls of £8012023 £nill. NEWCIS.. ¢urrenl Trustee was a director. Payments of £42,71712023'. £1681, and receipts of £19212023.. £nil)- The Vvillow Collection CIC.. current employee was a director until 7 February 2023. Payments of £27,885 {2023.. £6,46gi. All transaction5 took place at arrns length. The following balances due from related parties were oulslanding at the year end.. £nil 12023. £72} Irom NEWCIS, of which a Trustee was a director. 32-
NEWVOL OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL NOTES TO THE FINANCIAL STATEMENTS (CDNTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Operating lease commitment$ Al the reporting end dale the charity had oulslanding commitments for future minimum lease payments under non-cancellable operaling leases, which fall due as follows: 2024 2023 Within one year Belween two and five years 5.500 9.625 5,500 15,125 15,125 20,625 27 Auditors Ethical Standards The relevant ciicumslaiices requiring disclosure in accordance with the requirements of APB Ethical Standard Provisions Available lor Small Enlilie5 are that, in common with many Cliarilies of our size and nature, we use our auditors lo ass1St with the preparation of the accounts. 28 Cash generated from op?ratlons 2024 2023 Surplu511deficill for Ihe year 30.178 142,6431 Adjuslmenls for.. Investment income recognised in slatemenl of financlal activities Depreciation and impairment of property, plant and equipment 12,0001 9,712 1382) 86.854 Movements in working capital.. Decrease in trade and other receivables Incre3selldecreasel in Irade and other payables Ioecreasel in deferred Income 51,462 1,030 111.6531 88,161 111,544) 147,1021 Cash generated from operatlons 78.729 73,344 29 Analysis of changes in net funds Tlie charity had no debi during Ihe year. 33-