REGISTERED COMPANY NUMBER: 03352359 (England and Wales) REGISTERED CHARITY NUMBER: 1063661
Report of the Trustees and
Financial Statements for the Year Ended 31 March 2023
for
Vauxhall Neighbourhood Council Limited
V & R Accountancy Services Limited Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
Vauxhall Neighbourhood Council Limited
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | to | 7 |
| Notes to the Financial Statements | 8 | to | 13 |
| Detailed Statement of Financial Activities | 14 | to | 15 |
Vauxhall Neighbourhood Council Limited
Report of the Trustees for the Year Ended 31 March 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
During the year Vauxhall Neighbourhood Council (VNC) has continued with its principal activity of promoting the interests of the inhabitants of Vauxhall and its immediate environments by providing services to protect good health, relieve hardship and distress, advance education and promote other activities which are beneficial to the community.
The company is a community organisation providing education and training to local residents as well as facilities, advice and support; it is also an umbrella group for other local community organisations. VNC's main objective to date has been to strengthen local neighbourhoods and empower residents whilst improving the range and quality of local service provision to meet the diverse and changing needs of people living in a very deprived area of Liverpool.
The Trustees have paid due regard to the public benefit guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
It has been a challenging year for the organisation and following a thorough review of all aspects of the organisation a new development strategy has been developed to prepare VNC for the future and to improve sustainability. Additional support within the areas of business development, financial management and project management will enable the organisation to grow and build on what has been achieved to date and ensure the achievement of core aim and encapsulated within the mission statement:
"To relieve hardship, improve education, preserve good health, promote employment opportunities, and to provide and assist in the provision of facilities in the interest of social welfare and recreational activities of the community".
This is needed now more than ever and VNC has a strong direction and will to make this happen. Performance in the past year has been severely affected due to the pandemic and the restrictions the country has been under. The organisation has responded and reacted proactively to local needs by stepping up and providing support to those most vulnerable within the communities in which we work.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
VNC continue to provide a community food pantry where local residents can access food and shopping bundles.
VNC host a Youth Holiday, Activity and Food Project through half-terms, Easter, Summer and Winter breaks to provide a full programme of activities as well as substantial hot food through the day.
VNC continues to be home to a number of tenants that provide valuable services to the wider community. Amongst the tenants is the Vauxhall Community Law and Information Centre, who are expanding and this will enable them to provide greater access to justice for the community on a range of social welfare issues.
Collaborative working between VNC and Alt Valley Community Trust is going from strength to strength and this extends the reach and support we are able to provide to greater numbers as well as the breadth of activities and initiatives.
VNC also provides space for a number of local groups operating across the VNC catchment area who may struggle to meet without this support.
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Vauxhall Neighbourhood Council Limited
for the Year Ended 31 March 2023
Report of the Trustees
FINANCIAL REVIEW
Total incoming resources for the year amounted to £228,132 (2022: £250,992) and total resources expended amounted to £445,549 (2022: £345,719) giving a deficit of £217,417. Expenditure for the year includes depreciation against assets of £94,501.
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to three month's expenditure. The Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised. The Trustees recognise free reserves need to be increased and are reviewing options to improve the current position.
The Trustees remain satisfied that the charity is a going concern.
The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
FUTURE PLANS
The food pantry is going from strength to strength but greater provision is required in the local community. We are looking to secure further funding to allow us to expand our current offer and reach a higher proportion of people in need in the wider community.
We are also looking to secure funding to redevelop dilapidated community space to meet the emerging requirements of community group meetings, small community conferences, community consultations, etc.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
The trustees at the first meeting following the AGM will appoint the officers and can also appoint co-opted/advisory members who can retain office without voting rights until the next AGM. Sub committees and advisory committees can also be established by the Committee as and when required to carry out various functions such as development, personnel, membership, finance, policy etc. No subcommittee has delegated powers to operate or incur expenditure without the Committee of Management approval. The day to day operation of the company is delegated to staff under the direction of the Chief Executive, Pauline Connolly.
New trustees are made aware of their responsibilities under charity and company law and are appraised as to the aims and operation of the charity.
Remuneration of senior staff is benchmarked against similar organisations.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
03352359 (England and Wales)
Registered Charity number
1063661
Registered office
Vauxhall Millennium Resource Centre Silvester Street Liverpool Merseyside L5 8UX
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Vauxhall Neighbourhood Council Limited
Report of the Trustees for the Year Ended 31 March 2023
Trustees
J Donnelly A Jennings R Morley Mrs P Connolly (appointed 11.7.22)
Independent Examiner
V & R Accountancy Services Limited Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
Approved by order of the board of trustees on 21 March 2024 and signed on its behalf by:
J DONNELLY
J DONNELLY (Mar 21, 2024 15:22 GMT)
J Donnelly - Trustee
Page 3
Independent Examiner's Report to the Trustees of Vauxhall Neighbourhood Council Limited
Independent examiner's report to the trustees of Vauxhall Neighbourhood Council Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
G J Rummens FCCA
The Association of Chartered Certified Accountants
V & R Accountancy Services Limited Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
21 March 2024
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Vauxhall Neighbourhood Council Limited
Statement of Financial Activities
for the Year Ended 31 March 2023
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 6,003 Charitable activities Employment training - Covid support - Community pantry - Community activities - Investment income 2 66,122 Total 72,125 EXPENDITURE ON Charitable activities Employment training 198,499 Community pantry 6,003 Community activities - Total 204,502 NET INCOME/(EXPENDITURE) (132,377) RECONCILIATION OF FUNDS Total funds brought forward (172,332) TOTAL FUNDS CARRIED FORWARD (304,709) |
Restricted funds £ - 54,043 - 7,876 94,088 - 156,007 139,083 7,876 94,088 241,047 (85,040) 970,062 885,022 |
31.3.23 Total funds £ 6,003 54,043 - 7,876 94,088 66,122 228,132 337,582 13,879 94,088 445,549 (217,417) 797,730 580,313 |
31.3.22 Total funds £ 390 145,644 30,272 9,960 - 64,726 250,992 335,759 9,960 - 345,719 (94,727) 892,457 797,730 |
|---|---|---|---|
The notes form part of these financial statements
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Vauxhall Neighbourhood Council Limited
Balance Sheet
31 March 2023
| Notes FIXED ASSETS Tangible assets 6 CURRENT ASSETS Debtors 7 Cash at bank and in hand CREDITORS Amounts falling due within one year 8 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 9 NET ASSETS FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 86,380 790 13,265 14,055 (25,874) (11,819) 74,561 (379,270) (304,709) |
Restricted funds £ 883,622 - 1,400 1,400 - 1,400 885,022 - 885,022 |
31.3.23 Total funds £ 970,002 790 14,665 15,455 (25,874) (10,419) 959,583 (379,270) 580,313 (304,709) 885,022 580,313 |
31.3.22 Total funds £ 1,064,503 30,441 34,536 64,977 (215,019) (150,042) 914,461 (116,731) 797,730 (172,332) 970,062 797,730 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
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continued...
Vauxhall Neighbourhood Council Limited
Balance Sheet - continued 31 March 2023
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 21 March 2024 and were signed on its behalf by:
J DONNELLY
J DONNELLY (Mar 21, 2024 15:22 GMT)
J Donnelly - Trustee
The notes form part of these financial statements
Page 7
Vauxhall Neighbourhood Council Limited
Notes to the Financial Statements for the Year Ended 31 March 2023
1. 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.
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.
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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Fixtures, fittings and equipment - at variable rates on reducing balance
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
Pension costs and other post-retirement benefits
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.
continued...
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Vauxhall Neighbourhood Council Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Rents received | 66,122 | 64,726 |
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.3.23 | 31.3.22 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 94,501 | 95,431 |
| Hire of plant and machinery | 2,710 | - |
4. 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
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Staff No employees received emoluments in excess of £60,000. |
31.3.23 4 |
|---|---|
6. TANGIBLE FIXED ASSETS
| COST At 1 April 2022 and 31 March 2023 DEPRECIATION At 1 April 2022 Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 |
Freehold property £ 4,322,015 3,340,655 86,440 3,427,095 894,920 981,360 |
Fixtures, fittings and equipment £ 725,651 642,508 8,061 650,569 75,082 83,143 |
Totals £ 5,047,666 |
|---|---|---|---|
| 3,983,163 94,501 |
|||
| 4,077,664 | |||
| 970,002 | |||
| 1,064,503 |
continued...
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Vauxhall Neighbourhood Council Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
| 7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 £ Trade debtors 790 Prepayments and accrued income - 790 8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 £ Other loans (see note 10) 6,000 Trade creditors 14,175 Social security and other taxes 2,511 Other creditors 188 Accruals and deferred income 3,000 25,874 9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.3.23 £ Other loans (see note 10) 379,270 10. LOANS An analysis of the maturity of loans is given below: 31.3.23 £ Amounts falling due within one year on demand: Other loans 6,000 Amounts falling between one and two years: Other loans - 1-2 years 122,731 Amounts falling due between two and five years: Other loans - 2-5 years 256,539 11. MOVEMENT IN FUNDS Net movement At 1.4.22 in funds £ £ Unrestricted funds General fund (172,332) (132,377) Restricted funds Millennium Building Fund 970,062 (86,440) The 64 Trust - 1,400 970,062 (85,040) TOTAL FUNDS 797,730 (217,417) |
31.3.22 £ 28,014 2,427 30,441 31.3.22 £ 189,739 3,164 7,205 1,161 13,750 215,019 31.3.22 £ 116,731 31.3.22 £ 189,739 116,731 - At 31.3.23 £ (304,709) 883,622 1,400 885,022 580,313 |
|---|---|
continued...
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Vauxhall Neighbourhood Council Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 72,125 Restricted funds Millennium Building Fund - Veolia Environmental Trust 56,700 The 64 Trust 35,832 Liverpool Charity and Voluntary Services 30,704 Rotunda Ltd 8,011 Workers Educational Association 8,000 Feeding Liverpool 7,876 National Lottery Fund 7,884 Torus Foundation 1,000 156,007 TOTAL FUNDS 228,132 Comparatives for movement in funds At 1.4.21 £ Unrestricted funds General fund (164,045) Restricted funds Millennium Building Fund 1,056,502 TOTAL FUNDS 892,457 |
Resources Movement expended in funds £ £ (204,502) (132,377) (86,440) (86,440) (56,700) - (34,432) 1,400 (30,704) - (8,011) - (8,000) - (7,876) - (7,884) - (1,000) - (241,047) (85,040) (445,549) (217,417) Net movement At in funds 31.3.22 £ £ (8,287) (172,332) (86,440) 970,062 (94,727) 797,730 |
|---|---|
continued...
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Vauxhall Neighbourhood Council Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
11. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Millennium Building Fund The 64 Trust Awards for All Liverpool Charity and Voluntary Services Rotunda Ltd Workers Educational Association TOTAL FUNDS |
Incoming resources £ 174,530 - 16,667 9,960 22,600 15,235 12,000 76,462 250,992 |
Resources Movement expended in funds £ £ (182,817) (8,287) (86,440) (86,440) (16,667) - (9,960) - (22,600) - (15,235) - (12,000) - (162,902) (86,440) (345,719) (94,727) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| At 1.4.21 £ Unrestricted funds General fund (164,045) Restricted funds Millennium Building Fund 1,056,502 The 64 Trust - 1,056,502 TOTAL FUNDS 892,457 |
Net movement in funds £ (140,664) (172,880) 1,400 (171,480) (312,144) |
At 31.3.23 £ (304,709) 883,622 1,400 885,022 580,313 |
|---|---|---|
continued...
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Vauxhall Neighbourhood Council Limited
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Millennium Building Fund Veolia Environmental Trust The 64 Trust Awards for All Liverpool Charity and Voluntary Services Rotunda Ltd Workers Educational Association Workers Educational Association Feeding Liverpool National Lottery Fund Torus Foundation TOTAL FUNDS |
Incoming resources £ 246,655 - 56,700 52,499 9,960 53,304 23,246 8,000 12,000 7,876 7,884 1,000 232,469 479,124 |
Resources Movement expended in funds £ £ (387,319) (140,664) (172,880) (172,880) (56,700) - (51,099) 1,400 (9,960) - (53,304) - (23,246) - (8,000) - (12,000) - (7,876) - (7,884) - (1,000) - (403,949) (171,480) (791,268) (312,144) |
|---|---|---|
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
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Vauxhall Neighbourhood Council Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 6,003 | 390 |
| Investment income | ||
| Rents received | 66,122 | 64,726 |
| Charitable activities | ||
| Training income | - | 41,695 |
| Grants | 156,007 | 144,181 |
| 156,007 | 185,876 | |
| Total incoming resources | 228,132 | 250,992 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 76,876 | 117,804 |
| Social security | 6,438 | 7,776 |
| Pensions | 1,420 | 298 |
| Direct training costs | - | 17,599 |
| Other charitable costs | 56,431 | 22,419 |
| Donations | - | 25,000 |
| 141,165 | 190,896 | |
| Support costs | ||
| Management | ||
| Hire of plant and machinery | 2,710 | - |
| Rates and water | 31,178 | 8,545 |
| Insurance | 8,660 | 7,706 |
| Light and heat | 67,626 | 16,572 |
| Telephone | 277 | 1,300 |
| Postage and stationery | 1,138 | 2,075 |
| Sundries | - | 365 |
| Subscriptions | 1,231 | 1,258 |
| Repairs and renewals | 82,457 | 10,330 |
| Motor and travel expenses | 4,690 | 220 |
| Depreciation of freehold property | 86,440 | 86,440 |
| Depreciation of fixtures & fittings | 8,061 | 8,991 |
| 294,468 | 143,802 | |
| Finance | ||
| Bank charges | 666 | 593 |
| Governance costs | ||
| Accountancy and legal fees | 3,000 | 3,000 |
| Carried forward | 3,000 | 3,000 |
This page does not form part of the statutory financial statements
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Vauxhall Neighbourhood Council Limited
| Detailed Statement of Financial Activities | ||
|---|---|---|
| for the Year Ended 31 March 2023 | ||
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Governance costs | ||
| Brought forward | 3,000 | 3,000 |
| Professional and consulting | 6,250 | 7,428 |
| 9,250 | 10,428 | |
| Total resources expended | 445,549 | 345,719 |
| Net expenditure | (217,417) | (94,727) |
This page does not form part of the statutory financial statements
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