Southampton Voluntary Services (A Registered Charity & Company Limited by Guarantee) Trustees Report and Financial Statements For the Year Ended 31 March 2024 Charity number 1068350 Company number 3515397
Southampton Voluntary Services (A Registered Charity aDd Company Limited by Guarantee) Trustees Report and Financial Statements for the year ended 31 March 2024 Contents Page Report of the Executive Committee: 1-12 Independent Examiner report 13 Statement of financial activities 14 Balance sheet 15 Statement of cash flows 16 Notes to the financial statements 17-23
Southampton Voluntary Services Jleport of the Executive Commitlee for the year ended 31 March 2024 The Executive Committee presents its report and the audited financial statements for the year ended 31 March 2024 Reference and administrative information Charity name Charity registration number Company registration number Registered office & operational address Southampton Voluntary Services 1068350 3515397 Voluntary Action Centre Kingsland Square. St Mary Street Southampton, S014 1NW Executlve Committee The following, who are considered directors for the purposes of Company law and Trustees for the purposes of Charity law, have served in office between the start of the year (or date of appointment if later) and the date of this report: S Ramsey" K Lites, C Rogers ° Chair Vice Chair Honorary Treasurer, Chair of Finance sub- Committee J Noon {nominated SCC) M J Carnegie D G Wrighton P Hull K Rowlinson P Aubrey-Harris' V Ugwoeme Denotes member of Finan Sub-committge Resigned 1810112024 Appointed 1810112024 Company secretary R Kurn Independent Examiner Morris Crocker, Station House, North Street, Havant. P09 1QU Bankers The Royal Bank of Scotland, 156 High Street, Southampton S014 2NP Barclays Bank UK plc, Eastleigh Bus Ctr, 20-25 Upper Market Street, Eastleigh. S050 9FD Virgin Money formally Clydesdale Bank plc, Bering House, Mariner Court, Clydebank G812NR Close Brothers, 10 Crown Place, London, EC2A 4FT Scottish Widows, PO Box 883, Leeds. LS19TY Sollcitor Paris Smith. No. 1 London Road, Southampton S015 2AE
Soiith2mpton Voluntary Services Ilepoi"t of l.he Executive Committee for the year ended 31 March 2024 (Continued) Our aims and objectives Pur oses and aims SVS'S purposes, our Charitable Objects, are stated in our Memorandum and Articles of Association and form the basis of our registration as a charity. These documents were prepared on incorporation in 1997 and two small amendments not affecting the Charitable Objects were made to the Articles of Association at the AGM in October 2007. Our Charitable Objects remain as set out in 1997, as follows". "To promote any charitable purposes for the benefit of the community in the area of the administrative authorities comprising the historic county of Hampshire (including Portsmouth and Southampton) and in particular, the City of Southampton, and if the directors ofthe charity shall so decide, in any ofthe administrative authorities immediately adjoining, and in particular the advancement of education, the protection of health and the relief of poverty, distress and sickness . Ensurin our work delivers our aims We review our aims, objectives and activities each year and normally carry out a comprehensive -appraiSal every three years in the preparation of ourthree year Forward Plan documents. The annual reviews look at whatwe achieved and the outcomes of our work in the previous Iwelve months. The review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us to ensure that our aims, objectives and activities remain focused on our stated purposes. We have paid due regard to the guidance contained in the Charity Commission's general guidance on publlc benefit when reviewing our aims and objectives and In planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. The Charitable Objects are summarised in SVS'sVision. Qrganisational Values, Mission Statement and Key Aims which were reviewed and updated with input from trustees and stakeholders in early 2019. Vvhilst Ouf established tramework of three year forward planning has been less suited to the unprecedented levels of uncertainty we have been experiencing, in this reporting period we have commenced a process of Strategic Planning, to revisit and refresh our organisational strategic intentions, in line with our Charitable Obj'ects and public benefit, with engagement with all organisational stakeholders. This set of strategic intentions will be published in late 2023, alongside a re-fresh of our organisational values, vision, and mission. SVS'S Vision is of "Southampton is a cily where everyone is inspired to make positive contributions fo their communities." SVS'S Organisational Values are defined as.. Passion SVS believes voluntary action is built on the passion of people and communities to make a positive difference. Inclusiveness SVS believes that the voluntary ethic is best upheld when organisations promote equality and diversity and are open, democratic, accessible and accountable to their users, members and the wider community., Independence- SVS will be a strong and independent voice forthe sector. supporting best practice in autonomous organis£tions- Innovation SVS will support organisational resourfulneSs, flexibility and adaptability, through innovative, original ideas and creative solutions- Partnershlp - SVS is committed to positNe partnership work to create shared thinking and find solutions to meet local needs. The Mission Statement is that"SVS aims to support a vibrant voluntary and community sectorwith a strong voice and the best of support. SVS actively promotes voluntary action and the provision of essential services to vulnerable communities." The focus of our work Our main objectives for the year are summarised in our strapline, "Promoting Voluntary Action" and in the eight Key Alms which are.. Voluntary Sector Support Services and support- SVS will promote the effectiveness of local voluntary and community groups by providing them with a range of services including access to practical facilities. such as meeting rooms, office services, and more involved supportthrough general and specialist advice and information including regular newsletters, website, training and funding advice.
Southampton Voluntary Services Repoi't of the Executive C"ommittee for tlie year ended 31 March 2024 (colltinue<l Liaison as a focal point for the local voluntary and community sector in Southampton, SVS will encourage networking between individuals and groups within the sector. and belween local groups and the statutory and private sectors. SVS will also help different communities to organise their own networking activity- Representation - with government encouraging involvement of voluntary and community groups in shaping and delivering services. SVS will enable the VEWS of local groups to be represented strategically at local, regional and national levels- Development work - SVS will help identify gaps in service provision and work with groups to develop new and innovative seNices to meet these needs., Strategic partnerships- SVS will work in partnership with local government and other statutory agencies to shape and deliver services to meet city needs-, Promoting volunteering and voluntary action SVS will use its resources to promote volunteering in Southampton and to facilitate increased opportunity for voluntary action as an expression of active citizenship and civil society.. SVS Services Quality Services - SVS will delNer good quality services to meet the individual needs of vulnerable communities., Governance Governance and performance - SVS will derrK)nstrate best practice in governance by upholding the standards within the Good Governance Code for the Voluntary and Community Sector. How our activities deliver ublic benefrt Our main activities and who we try to help are described in "who used and benefited from our services" and our achievements and performance in the year are assessed in the °review of the year". All our charitable activities are undertaken to further our charitable purposes, as embodied in our Charitable Objects, Vision and Mission Statement, for the public benefit. Who used and benefited from our services? Our wide-ranging Principal Activities are set out belowtogetherwtth the individuals and groups, mainly based within the city of Southampton. that benefit from these acts-vities: Voluntary Sector Support.. Developing, connecting. influencing and representing the voluntary and community sector through providing leadership, information. good practice. netN4orks and capacity building., Promoting Volunteering and Voluntary Action: Involving volunteers. promoting volunteering and voluntary action in all sectors- Services to meet the needs of individuals: Community Roots: A recovery focused. allotment based horticultural project providing supported volunteering opportunities for people with additional support needs, including those who may have experienced mental health problems, substance and alcohol use, and homelessness. Healthwatch Southampton: The local consumer champion for health and social care. Healthwatch Southampton (HWS) listens to the views and experiences of the public and patients and uses its influence to affect commissioning and service provision decisions and practice. HWS also offers an information, advice and signposting service. Shopmobility: Provision of wheelchairs and scooters to people with limited mobility enabling them to access the city centre and access shops. amenities and services independently. SO"Linked: contract enabling delivery of SVS community development functions alongside community navigation to enable members of the public to find the support they need in the community. This work is led by SVS and delivered through subcontract arrangements with our partners SoGial Enterprise Link, Spectrum CIL. and TVdlCS. Summa review of the ear This report covers the period 1st April 2023_ 3151 March 2024. a period characterised by unfavourable economic conditions and a bleak financial forecast that has affected our beneficiaries and main public funding bodies. This in turn has impacted on the services we offer as an organisation. with several pieces of work no longer being funded as detailed below. Amidst this we have also undertaken new. and exploratory. pieces of work as opportunities have presented themselves, also detailed below. SVS Executive Committee. our charity trustees and company directors. led by Chairperson Stephanie Ramsey, have shown great leadership through what has been a challenging year. The Executive Committee meet bi-monthly, and have also convened a number of sub-groups focusing on finance, organisational risk, and future strategy. Executive Committee members are now linked to key personnel in the organtsation to better understand SVS, work and projects.
Southampton Voluntary ServRces Repoi't of Ilie Executive Committee for the year endcd 31 Mai'ch 2024 (¢Trnttnued) Internally, SVS has strengthened its IT and digital infrastructure over the year. migrating from an in-house server to cloud based services, which ha5 enabled us to increase security and mitigate risk. We have also adopted a new HR system that has streamlined many of our HR processes and driven efficiencies. We have rebuilt our website infrastructure to iron out malware threats and a in a process of website redesMJn. Staff retention has remained high throughout the year. albeit affected by redundancies due to funding ending. We have also successfully recruited to several posts, bringing new skills and experience into the organisation. Equity, diversity and inclusion {EDI) has been further embraced during the year in line with SVS, ambition to increase diversity to better reflect the communities we serve. SVS CEO and Honorary Treasurer have been participating in a Socal EDI leadership programme. with a cohort of local leaders. and are currently planning activity to take fotward in the city Ovefarching themes of the year include: Public Finances - the strain on public finances has been ever apparent, with Southampton City Council narrowly avoiding a section 114 notice. The Hampshire and Isle of Wight Integrated Care Board (ICB) have also had to make large savings. This has affected the funding relationship with the sector, and we working to demonstrate the value the sector returns on investment. Changing Structures - this is most visible within the health landscape, with the move from place based Clinical Commissioning Groups to a much larger system based Integrated Care Board {ICB). Within the new system NHS community and mental health trusts are also merging to fomi larger organisations. Relationships with the sector are needing to be rebuilt as key connections are lost. Redesign I transformation - the need to deliver public services within reduced budgets is leading to transformation at pace, and it can be challenging to understand how change is being implemented. Collaboration - a welcomed. and growing. realisation that sector organisations need to stand together and collaborate if they are to survive and thrive in the current climate. However, this is also tempered by an apparent reduction in some of the'integrated" arrangements between health and local government that have been developed over the recent past. Uncertainty - re-procurement of local services provided by the VCSE is currently undefway, leading to great uncertainty for the organisations involved. New opportunities- new partnerships have emerged over the year, presenting new and exciting opportunities. This has been most evident within health and research. building on our relationships with Universities and Public Health.. Sector su ort and infrastructure The SVS led SO:Linked programme "supporting Southampton's communiti'es and people". continues to be the main delivery vehicle for our community development work, alongside partners TWICS and Social Enterprise Link. The community navigation aspect of this integrated commisstoning unit (NHS I local government} contract was delivered by partners Spectrum CIL, Solent Mind and Southampton AlzheirrEr's Society, until a substantial cut in the health funding led to Alzheimer's Society and Solent Mind ceasing delivery. However. some additional funding was provided to undertake discharge navigation at Southampton General Hospital. Other projects delivered under the SO"Linked banner have included.. SO:LetsConnect - This partnership project has helped to remove barriers to digital access, by upskilling individuals and providing low cost I no cost tech solutions. Our tech community partner in this work, Drop the Mask, have taken an enhanced role in the projec( with administrative support provided through SVS business support team. This work came to an end in-year. Domestic Navigation - Working closely with Adult Social Care this strand of work enabled clients to access domestic help (cleaning, shopping, etc) by working with local sector organisations. and freed up local domiciliary care workers, time to focus on personal care thereby reducing pressures on the local system, at a time when recruitment and retention of care workers was proving challenging. This work came to an end in-year. SO: LID- Our Local Information Directory has provided a go to digital space to identify local services, support, activities. funding and more. This is an invaluable resource for our navigators, social prescribers in the city, the VCSE (Voluntary Community Social Enterprise sector). and statutory partners. We have now rebuilt the platforms infrastructure following issues with malware Southampton Green Netsvork - Co-ordinated by SVS and Solent Mind this neiwork brings together over 50 organisations, of all sizes, to collaborate on the green l environmental agenda within Southampton. The network
Soulhampton Voluntary Services Ilepoi"t ol the Executive Coiiiinittee for thc year ended 31 March 2024 (contillmcd) has worked closely with a University of Southarnpton researcher to develop impact measurement tools for green social prescribing. Dementia Friendly Southampton- SVS continued to deliver this workstream. within SO'.Linked, until the year end when the contract finished. Thework raised awareness of dementia and coordinated the Dementia Network, through which 30°/0 of the contract value was distributed in small grants. SO: Lotto- our local lottery scheme with GatheNell has continued and over the last 12 months has raised a total of £9,796.80 for 60 local good causes. £1.375 of prizes have been distributed to players in the same period. Southampton Health and Care Alliance - a number of coproduction events were held to shape this network which aims to work closely with local health and social care. The network continues to be developed. Friday Forum - we continue our monthly collaboration f(Kused Friday Forum for the sector with a different theme each month. The forum is well attended with between 15 - 65 organisations joining each month. Volunteering Development - we have continued our volunteer brokerage offer through digital means and continue to work to raise the profile of volunteering and disseminate best practice. As of year end we have recruited a new Volunteer Development Worker, and we look forward to reporting on the impact of this work in the future. Leadership and Advocacy- our extensive networks mean we a well placed to ensure a strong, sector voice at the city's strategic partnerships. This includes Adults. and Children's. Safeguarding Boards, Safe City Partnership, Reducing Drug Harm Partnership, Children and Young People's Partnership Board, Health and Wellbeing Board, amongst others, and various working groups. This enables the sector a level of influence in the local policy environment, and ensures the sector are well sighted on local developments and opportunities for collaboration. Hampshire and Isle of Wight VCSE Heakh and Care Alliance {HIVCA) - this Integrated Care System wide collaboration aims to build stronger relationships and joint working. SVS CEO is a member of the leadership committee. Group Support - supporting local organisations continues to be a key focus through training, acting as an election Commissioner, helping to resolve conflict, finding funding, and all areas of governance and management of an organisation. Research Unit- SVS has strengthened links with research organisations over the last three years, with a view to enabling further reach into local communities through community organisations and developing opportunities for local people to have a voice about what is important to them. This is germane given the UKRI {United Kingdom Research & Innovation) strategic focus on public engagement in research and the Civic University agenda. We have been involved in several projects during the year" In-Residence- working closely with University of Southampton our project this year has been research into impact measurement for Green Social Prescribing activities, through the Green Network. CPAR legacy projects - following our programme of community participatory action research wilh Southampton Public Health and The Young Foundation we have funded £50k worth of coproduced projects that respond to the initial research findings. We Value - a collaborative project with University of Brighton and University of Southampton as part of the Infrastructure for Port Cities and Coastal Towns project to explore local shared values. Coproduction Corner - funded by the Centre for the South policy unit, this project is exploring how coproduction can form an integral part of policy development. Health Determinants Research Collaboration a partnership between local universities, Southampton City Council, and SVS that aims to introduce a research and evidence based decision making structure into all of the council's work, with priorities set thiough public involvement and community engagement. This programme will operate over five years. Services to the ublic Whilst the development and delivery of new public facing services is no longer a strategic priority for SVS, preferring to work collaboratively with our membership on such endeavours. we do still deliver some public services. Healthwatch Southampton (HWS) - the project's refreshed Strategic Group have undertaken an update of their governance and membership. Work in year has included The Big Conversalion on Dentistry, GP website audit, Accessible Information Standard. and the experience of people living with dementia, and their carers, in hospital.
Southampton Voluntary Services Report of the Executive Committee for the year ended 31 March 2024 (continued) Future priorities are currently being set and a full HWS Annual Report will be published on the Healthwatch Southampton website on the 30th June 2024. City Shopmobility - having finished the previous year with a substantial project deficit, City Shopmobility moved premises into the West Quay Shopping Centre, with a view to reducing costs and increasing revenue. This had an impact on project sustainability, and we are thankful to West Quay for their support. However, the partial funding the project has received for many years from Southampton City Council, was brought to an end with the non-renewal of the contract from May 31 St 2024. Fortunately, we have been able secure funding from West Quay until 31st December 2024, when a review will take place. We hope this collaborative working continues and look ft)tward to the opportunities this may bring. Community Roots - numerous new opportunities have arisen for the project, which have been taken forward by the project's new coordinator. Three group5 are currently engaged in tending to the allotment, and our close relationship with drug treatment service CGL continues. with new partnerships with Hampshire Probation, and company Utilita. The project has also started to support peop who are at risk of losing their allotment, due to illness, in collaboration with Southampton City Council. We are all looking fofward to this year's growing season. Finally, a massive thanks to all SVS staff, volunteers, and trustees for your respective contributions. You, our people, are SVS, biggest asset, and we couldn't do what we do without your teamwork, creativity and energy. Thanks, are also due to our partners. supporters and funders, and SVS Icd(s forward to your ongoing support into the future. The Role of Volunteers in our Servlce Provision In all aspects of SVS work and service delivery we have teams of active volunteers who enhance our work and the services we offer to the public. Some of our SVS volunteers have themselves experienced unemployment, whilst others have additional support needs or are in recovery from addictions or health problems, so our experience in working with and involving them provides an excellent grounding for the work we do in encouraging others to actively involve volunteers. SVS is proud and infinitely grateful for the commitment and contribution in terms of creativity, enthusiasm and the substantial donation of all our volunteers, time and effort, which to us is priceless. However, this contribution can be quantified in monetary value using the 2023 median hourly earnings from ASHE by Office of National Statistics. This means the sum of 3020 volunteer hours contributed by approximately 30 volunteers is equivalent to £47,958. a massive contribution and we thank each and every one of you. Financial review Financial overview This is an increasingly challenging time within our sector with major funding uncertainties, a turbulent external environment and the increasing impact of procurement and tendering. We continue to fa uncertainty over parts of our income and to deal with late decisions over funding income. but we plan, recognising that these are aspects of the environment in which we operate. In this context, SVS achieved a planned outcome forthe yearwith a net decrease in its unrestricted general fund of £2.303 (note 13). Restricted funding will by its nature involve situattons where funds are received in one year and spent in a different year. resulting in situations where net surpluses or deficits arise. In the current year our total Restricted funding reserves decreased by £48,163 {2023: increase £964). Our reseryes policy is set out in more detail below. The net movement in funds was £50,466 (2023".£165,580). The SVS Balance Sheet remains appropriate for an organlsation of our size, with appropriate liquidity. ecifics Total incoming resources amounted to £742,414 compared with £885.516 for 2023. a decrease of c160/0. Total resources expended amounted to £792,881, a decrease of c10Vo compared with the previous yearfs figure of £884,936 Total funds at the year-end amounted to £1.711.407 {2023: £1,761,873) which is made up as follows.. 2024 2023 Restricted reserves Designated reserves held for future project expenditure set aside for VAC depreciation and for essential future operating expenses 327,407 1,295,729 375,570 1,295,729
Southampton Voluntary Services RLp(brt of the Executive Committee for the year ended 31 March 2024 {¢onltnued} General reserves Pension reserve see below as discussed above 88,271 90,574 Total funds 1,711,407 1,761,873 General reserves now stand at £88.271 {2023: £90.574). The decrease of £2.303 comprises the unrestricted deficit. As shown below. general reserves are in the form of current assets (1000/0) and fixed assets (NIL). 2024 2023 Fixed assets Current assets - free reserves 88.271 90,574 Total general reserves 88,271 90,574 The Charity's free reserves may decrease significantly, as future essential expenditure on fixed asset replacement becomes inevitable. Accordingly, these reserves are held principally to give some protection against future uncertainties and are not available for short-term expenditure. Princi al fundin sources Voluntary Sector Support and Promoting Volunteering and Voluntary Action are funded through contracts from Southampton City Council (SCC) together with sizeable contributions from the Hampshire & Isle of Wight Integrated Commissioning Board. Southampton University and various smaller funding streams, some of which also derive from SCC. The SVS Services are primarily funded through a mix of grants, contracts and charitable trusts. Fundraisin olic SVS welcomes donations and in-kind contributions from business and other supporters, especially with respect to our service delivery work to the public. SVS undertakes limited fundraising from the public to support its voluntary sector support work where it is compatible with our aims and supportive to the many of the voluntary and community groups that we exist to support. SVS Seryices maintain annual fundraising activities to sustain their basic services, and these have been increased universally in the past year in response to the constrainls of public funding to ensure their sustainability to meet public needs. The Charity conducts all its fundraising activity in line with the Fundraising Regulator Code of Fundraising Practice and is pleased to confirm that it has received no complaints in relation to its fundraising activity over the course of the 2023- 24 year. Investment olic The Executive Committee. having regard to the liquidity requirements of the charity and the reserves policy, have reviewed and operated a policy of keeping available funds in competitive interest-bearing deposit accounts and seek to achieve a rate of deposit interest which matches or exceeds inflation as measured by the retail prices index. However, due to the current economic climate, we have several fixed term bonds and are achieving slightly less than the current RPI inflation rate. The Executive Committee, mindful of public concern regarding the liquidty of banking institutions, periodically review the allocation of funds to individual banks and have diversified the range of accounts held to maximise protection of funds under the banks guarantee system. The Executive Committee believes that SVS would be eligible to receive compensation through the Financial seices Compensation Scheme on the failure of a UK registered bank and considers that investment in four banks both minimises the risk of losing charitsble funds and the risk of losing liquidity due to bank failure. Remuneration Polic The Directors and the board of Trustees and the senior management team comprise the key management personnel of the Charity. The charity Trustees ultimately hold the responsibility for setting the remuneration levels for the staff within the organisalion including the senior staff. The individual salaries of senior staff members remain lower than £50,000. I n 2013 the Executive Committee elected to move away from the NJC pay scales and to adopt a more standardised approach to pay structures and allow the organisatton to focus on narrowing the gap between the highest and lowest
Soiithampton Voluntary Services Reporl of the Executive Committee for the year ended 31 Marcli 2024 (¢ontinued> paid staff. They chose to review any salary increaselpay award on a fixed amount rather than the percentage increase previously used, thus reducing the gap to attract and keep appropriately qualified staff. In line with our commitment to our lowest paid staff we have also adopted the Living Wage scheme within the organisation. As at the 31 $1 March 2024 we calculated our gender pay gap as follows'.- Median and mean male & female hourly earnings : Male Hly Eamings 19.09 19.23 Female HIV Earnings 19.49 19.49 Single Figure Paygap % -2.10Y. Difference Median 0.40 Mean 0.26 -1.37% Mean male & female hourly eamings by quartile: Mean Male Hly Eamings 24.94 Mean Female Hly Earnings Mean single figure pav gap% Difference % Male Yo Female Quartile 1 Quartile 2 Quartile 3 Quartile 4 24.94 loo% 0% IOOYO loo% oy. loo% 19_49 -18.71 19.49 19.49 13.25 13.25 0% Reserves olic The Executive Committee has examined SVS'S requirements for reserves considering the main risks to the organisation and in line with ils policy to do so on an annual basis following detailed scrutiny and recommendations by its Finance sub-committee which is itself guided by the Charity Commission guidance on charity reserves. In light of the increased uncertainty around public sector funding and the Unpredented times during the Pandemic, the Executive committee has reviewed its position and feel that due to recent experience and the prevailing climate. a more prudent approach is currently required and that its policy should be strengthened so that the unrestricted funds and restricted project funds not committed or invested in tangible fixed assets held by the charity, should be at least 6 and if possible 12 months of the expenditure together with our best estimate of future capital expenditure in order to provide sufficient time to seek alternative funding or to properly wind down services if absolutely necessary in the event of loss of public sector funds. This is consistent with our assessed risk register which the Executive Committee and senior staff jointly review overall on annual basis and as required when substantive changes or developments occur relevant to specific areas identified on the risk register. The charity needs reserves to enable it to continue to operate as an ongoing concern. The Executive Committee consider the reserves held on the balance sheet to be at an adequate level. as set out further below, to meet their responsibilities and commitments. protect and advance its current acb'vities. Based on budgeted expenditure for the year commencing 1st April 2022, the target is for free reserves of be[een £75,000 and £150.000 in unrestricted funds and of between £375.000 and £750,000 in restricted project funds. The reserves are needed to meet the working capital requirements of the charity and the Executive Committee are confident that at this level they would be able to continue in the short term the current activities of the charity in the event of a significant drop in funding. The present level of free unrestricted reserves, being the unfestricted reserves excluding those represenled by fixed assets and those held for designated purposes, is £88.271 which fralls within the target. The Executive Committee are satisfied that the level of free reseNes is acceptable having taken note of SVS'S policy of increasing reserves together with the existence of certain designated reserves and recognising SVS'S expected future capital expenditure. The present level of free restricted reserves, being restricted reserves excluding those represented by fixed assets, is £327,407. The Executive Committee has concluded that these reserves are adequate based on the SVS Projects, policy of increasing reserves. In the short term the Execulive Committee has also considered the extent to which
Sollthampton Voluntary Services Repoi'l of the Fxeeutive Coiiiiiiittee for the year ended 31 March 2024 {coo¢inued} existing activities could be curtailed, should such action be required. In volatile financial circumstsnces, having adequate reseNes has meant that we have been able to avoid issuing precautionary redundancy notices linked to SCC or other bodies grants and tendering outcomes. Future Sustainabilit and The Green A enda As part of our commitment to the Green Agenda we are now monitoring our carbon footprint. We currently have two buildings for which we will monitor. Our starting point this year is far less than normal due to the pandemic and the closure of both buildings for almost a year, however we will make direct comparisons in the next year. We also have solar panels which retum to the grid. Plans for the future eriod Our established cycle of three year forward planning is currently less suited to the unprecedented level of uncertainty we are facing, as detailed elsewhere in this report. SVS Executive Committee are therefore taking a year-by-year approach to planr¢ing, supported by members, views articulated in the SVS membership survey. Structure, governance and management Governin document and member or anisations Southampton Voluntary Services {SVS) is a charitable company limited by guarantee. The company was established under a Memorandum of Association which stated the objects and powers of the charitable Company and is governed under its Articles of Association In the event of the company being wound up members are each required to contribute an amount not exceeding £1. There are currently over 470 membern, Main voluntary and community organisations that operate in Southampton and the surrounding area. Recruitment and A ointment of Executive Committee The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Executive Committee. Under the requirements of the Memorandurn and Articles of Association the members of the Executive Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. at which time members also vote annually for the Chair, Vice Chair and Honorary Treasurer. There are two trustees who are Councillors nominated by Southampton City Council. All members of the Executive Committee give their time voluntarity and received no benefits from the charity. Expenses reclaimed from the charity are set out in note 2 to the accounts. The Executive Committee monitors the skill requirements for the trustee body and carries out periodic specific reviews of skills and sector experience. When additional trustees are required or a trustee retires, nominations for election are sought from member organisations and vacancies are filled by suitable co-options in the interregnum. Trustee induction and trainin New trustees receive a detailed induction pack (including the Memorandum and Articles, the latest rinancial statements and the Charity Commission's guide "the Essential Trustee") and have an induction meeting with the Chief Executive. Feedback from new trustees about their induction has been very positive. Additionally, new and existing trustees are invited and encouraged to attend the regular trustee training sessions available to trustees of all member organisations via the SVS Trustee Development Programme. An annual Financial Management briefing is provided for the whole Executive Committee. The Trustee induction pack has been VieWed and updated during the year. Risk mana ement The Risk Assessment Report is updated and reviewed annually by the Executive Committee, focusing on the major external and internal risks to which the charity is exposed. The new Charity Commission guidance was used to prepare and vieW the risk assessment. alongside guidance on risk assessing different aspects and impact areas due to Covid-19. The key risks identified in the 2023124 risk assessment exercise were broadly in line with the previous reviews. short-term initiatives, arrears l outcome funding. late signing of contracts, delayed payments and adequacy of reserves to meet obligations diminishing funding pots and increased competition" the loss of a key contracts from the increased pressures assoctated with tendering and procurement practices and reduced public expenditure and the associated reducts.on of services being commissioned changed political priorities from national and local govemment. 10
Soiithampton Voluntary Servlees Report of the ExeeutKve Comniittee for the year ended 31 March 2024 (continucd) demographic and social changes with poverty and social exclusion, high deprivation and an increasing strain on SVS'S scarce resources including capacity to fully harness changes in the volunteering profile and enqu iries., the charity's financial planning being adversely impacted by funding uncertainties and the impact of the other key risks set out here. increases in cost of living affecting beneficharies and the financial stability of the charity, particularly in relation to longer term fixed-price contracts. reliance on key staff and impact on organisational memory in case of leaving; data security and safety" risk of cyberattack and potential for inadvertent breaches of GDPR., staff health and wellbeing in light of remote working during the pandemic- ability to deliver on contracts due to pandemic, financial pressures due to decreased revenue and fundraising opportunities- robustness of digital systems to safely operate in a remote working environment-, The Executive Committee ensures, where appropriate, that systems or procedures are in place lo mitigate the risks the charity faces as identified through the comprehensive risk review process, including both the key risks set out above and other lesser risks. Or anisational Structure and Governance The organisational governance and management are headed up by an Executive Committee which meets five times a year. The Executive Committee consists of elected and nominated trustees. The Executive Committee is responsible for the strategic management of all current work and for the oversight of development in line with its Vision, Mission Statement and Charitable Objects. At present the Committee has ten members from a variety of professional backgrounds relevant to the work of the charity. The Company Secretary also attends the Committee but has no voting rights. The Committee has adopted the Good Governance Code for the Voluntary and Community Sector. The Executive Committee is supported by the Finance sub-committee who scrutinise the details of the management accounts, look at relevant financial issues and make recommendations to the full Executive Committee, including in respect of the Executive Committee's annual review of financial policies. This Committee also communicate with SVS'S external Independent Examiner and make recommendations in respect of the external Independent Examiner appointment, reporting back to the Executive Committee- receiving an unqualified examination opinion from a reputable accountancy firm is a key ongoing priority. The work of the Finance sub-committee includes an annual review of the charity Commission internal financial control self-checklist for charities. The day-to-day management of the organisation is delegated to the Chief Executive, Mr R Kurn, who reports regularly to the Executive Committee and is also the Company Secretary. Line management arrangements through team leaders are in place as is regular supervision for staff and volunteers as well as a Joint Progress Review process. Related arties The relationships beeen the charty and related parties, together with details of any related party disclosures. are set out in note 2 to the financial statements. statement of Trustees. responsibilities The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with the Companies Act 2006 and for being satisfied that the financial statements give a ttue and fair view. The Trustees are also responsible for preparing the financial statements in accordance with United Kingdom Accounting 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements. the Trustees are required to: select suitable accounting policies and then apply them consistently- make judgments and estimates that are reasonable and prudent", state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements-, prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
Southampton Voluntary Services Report of the Executive CoDimittee for the year ended 31 Marcb 2024 (contittued The Trustees are responsible for keeping adequate accounting records that show and explain the charity's transactions, disclose with reasonable accuracy at any time the financial position of the charity, 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Financial statements are published on the charity's websrte in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements, which may vary from legislation in other jurisdictions. The maintenance and integrity of the charity's website is the responsibility of the Trustees. The Trustees, responsibility also extends to the ongoing integrity of the financial statements contained therein. Members of the Executive Committee Members of the Executive Committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1. In accordance with company law, as the company's directors, we certify that: so far as we are aware, there is no relevant financial information of which the company's independent examiner is unaware., and as the directors of the company, we have taken all the steps thatwe ought to have taken in order to make ourselves aware of any relevant independent examiners informakn'on and to establish that the charity's independent examiner is aware of that information. The financial statements have been prepared in accordance with Accounting & Reporting Charities: Statement of Recommended Practice applicable in the UK and Republic of Ireland (FRS102) (Effective 1 January 2019) (Charities SORP(FRS102)), Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006. Approved by the Executive Committee on 18th Juty 2024 and signed on its behalf by: GlLe S Ramsey Chair C Rogers Treasurer 12
South2tmpton Voluntary Services In(lependent Examiner's Report to the Trustees of Southamplon Voluntary Services 'oR' tlie year ende(131 March 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTHAMPTON VOLUNTARY SERVICES Independent examiner's report to the trustees of Southampton Voluntary SeNices {'the Company'} I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responslbilitles and basis of port 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 accordan with the qUirementS of the Companies Act 2006 ('the 2006 Act,). Having satisfied myselfthat the accounts of the Company are not required to be audited under Part 18 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 ACV). 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 Since your charity's gross income exceeded £250.000 yourexaminer must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a registered member of ICAEW which is one of the listed bodies. 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 the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination- or the accounts have not been prepared in accordance with the methods and principles of the 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 Republi¢ of Ireland (FRS 1021) I have no concerns and have come across no other matters in connection with the examination to which attenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. S Mackie FCA Morris Crocker Chartered Accountants Station House North Street Havant Hampshire P091QU
Southampton Voluntary Services Statement of financial Activities (including Income & Expendlture Aeeount) For tlie year ended 31 Mareh 2024 Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Total fijnds 2023 Note Income Income from charitable activities 19.058 882,067 Income fmm other generated funds.. Investment income other income 10 23,829 23,829 2,940 509 3,449 23,873 23.873 Total Income 18 42,931 742.414 885,516 Expenditure Charitable activities.. General expenditure Pension scheme net service cost Charitable activities expenditure 11 45,234 747.646 792,880 875,936 9,000 884,936 45,234 747,646 792,880 Total expenditure 18 747,646 792.880 884,936 Net (expenditure) (2,303) 148,163) (50,466) 580 Other recognised gains and losses Actuarial gains on defined benefit pension schemes 165,000 Net movement in funds (2.303) 148,163) 150,466 165,580 Reconciliation of funds Total funds brought forward 1.386,303 375.570 1,761,873 1,596,293 12. 13 Total funds carried forward 1,384.000 327.407 1,711,407 1,761,873 The notes on pages 17 to 23. incorporating the Accounting Policies on pages 17 to 18, form part of these accounts. The Statement of Financial Activities includes all gains and losses recognised in the year. All amounts relate to continuing activities.
Southampton Voluntary Services Balance Sheet as at 31 March 2024 Note 2024 2023 Fixed assets Tangible assets 532,915 559,442 Current assets Debtors Cash at bank and in hand 151,163 1,097,772 1,248,935 106,354 1,181,621 1,287,975 Liabilities Creditors: amounts falling due within one year 70,443 85,544 Net current assets 1.178.492 1,202,431 Net assets excluding pension liability 1,711,407 1,761,873 Defined benefit pension scheme liabilty Net assets includFng pension liability 1,711,407 1,761,873 The funds of the charity Restricted funds 13 375,570 Unrestricted funds." Designated General Unrestricted income funds excluding pension reserve Pension reserve Total unrestricted funds 12 12 1,295,729 88,271 1,384.000 1,295,729 90,574 1,386,303 12 1.384,000 1,386,303 Total charity funds 1,711,407 1,761,873 The notes on pages 17 to 23, incorporating the Accounting Policies on pages 17 to 18. form part of these accounts. For the financial year in question the company (03515397) was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These financial statements were approved by the Board on 18th July 2024 and were signed on its behalf by: S Ramsey Chair C Roge Treasurer 15
Southampton Voluntary Services Cash Floivs as at 31 March 2024 Statement of cash flows for the year ended 31st March 2024 Note 17 2024 2023 Cash used in operating acttvities (107,678) 47,045 Cash flows from investing activities Investment Income 2,940 23,829 Cash provided by investing activities 23,829 2,940 Increasel{Decrease) in cash in the year 183,849) 49,985 Cash at the beginning of the year 1,181,621 1,131,636 Total cash at the end of the year 1,097.772 1,181,621 Ici
Southampton Voluntary Services Notes to the Financial Statenients foi" the year ended 31 March 2024 Accounting policies 1(a> Basis of preparation Soijlhampton Voluntary Services is a charitable Company limited by Guarantee. The Company is regislered in England and Wales and its registered olfice is set out on page 2 The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2019) (Charities SORP (FRS102)}, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102) and the Companies Act 2006. The charity is a public benefit entity and considered by the Trustees to be a going concern. 1{b) Funds structure Funds held by the charity are erther.. Unrestricted general funds these are funds which can be used in accordance with the objects at the discretion of the trtjstees. Designated funds these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects. or Restricted funds - these are funds that 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 given for particular restricted purposes or where the funder requires any surpluses under services agreements to be retained for that specific project. 11c) Income Income from charitable activities arises solely in the UK and includes income received under grants, contracts and service level agreements. Amounts related to future periods are shown as deferred income. Incoming resources are recognised when the charity's enlitlement to the resources is confirmed, it is probable that the resources will be received, and they can be measured with reliability. 1 Id) Expenditure- direct charitable* governance and support costs Expenditure is recognised on an accruals basis. Most expenditure is directly categorised as expenditure on charitable activities. The benefit of this direct categorisation of resources expended is that there is no unallocated expenditure or 'support costs,. 1{e) Tangible fixed assets Tangible fixed assets are depreciated on a straight line basis over their estimated useful lives as follow5.. Asset cate Voluntary Action Centre (VAC) Office & project equipment Computer equipment Useful life 40 years 5 - 20 years 2 years No depreciation is provided on the land element of the Voluntary Action Centre. All assets of £1 k are capitalised and full year depreciation is applied on year of acquisition. 1(fj Impairment of assets Assets that are subject to depreciation are assessed at each reporting date to determine whether there is an indication that the assets are impaired. IAlhere there is an indication that an asset may be impaired, an impairment loss is recognised for the amount by which the assets net book value exceeds its recoverable amount. The recoverable amount is the higher of its fair value or its value in use. As the assets are held for the charitable service potential to its beneficiaries, it is appropriate to regard value in its use as the assets seiCe potential measured by its replacement value. The replacement Cost is the lowest economic cost that would be incurred in replacing the assets service potential.
Southampton Voluntary Services Notes to the Fin2ncial Statenient$ for the year ended 31 March 2024 11g) Flow through funding The charity deals with the onward payment of costs on behalf of some other organisations. These sums are excluded from both incoming and expended resources on the basis that they do not represent incoming or expended resources for the charity itself. The amount of flow through incoming and outgoing funds during the ye8rwere £nil (2023.. £169,164} and £27,125 {2023: £177,346) respectively and the funding held at the year-end was £56,452 (2023: £95,081). 1{hl Debtors Trade and other debtors, relating mainly to grant monies due. are recognised on the Balance sheet. Prepayments are valued at the amount prepaid 1{1) Cash and Bank Cash at bank and cash in hand includes cash and short tenn highly liquid Tnvestments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1ti) Creditors Creditors are recognised where the chatty has the present obligation resulting from a past event 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. l(k) Financial instruments The charity has the financial assets or financial liabilities of a kind that qualify as basic financial instruments. The basic financial instruments are rewgnised at transaction value and recognised at their settlement Value. 1(1> Judgements and applying accounting policies and key sources of estimation uncertainty. In preparing these financial statements, the directors have made the following judgements. Determine whether there are indicators of impaim)ents rf fixed assets_ Factors taken into consideration in reaching a decision include the service potential of the property and its Ljnderlying replacement cost. In preparing the accounts key areas of estimation have been made • Tangible fixed assets are depreciated over their useful lives considering residual values, where appropriale. The actual lives of the assets and the residual values are assessed annually and may vary depending on several factors. In reassessing asset lives, factors such as charitable use and maintenance programmes are considered. • A provision is made for the deficit arising on the charity's share of Ihe Local Government Pension Scheme. The trustees review the underlying actuarial assumptions and make the appropriate judgments and changes required as suitable to the charity. Related party disclosures 21al Control of the charity Throughout the year, the charity was controlted ultimately by its members who Tneet annually at the Annual General Meeting. The directors elected by the members govern the affairs of the charitable company beeen Annual General Meetings. 2(bl Directors I trustees remuneration and expenses No remuneration was paid to any directors l trustees in the year and no director I trustee waived the right to any remuneration in the year. Trustee expenses have been reimbursed in the year to the value of £Nil12021'. £Nil). 18
Southampton Voluntary Services Notes to the Financial Statements for the year ettded 31 March 2024 Tangible fixed assets Voluntary Action Centre Office & project equipment Computer equipment Total Cost: As at 1 April 2023 Additions As at 31 March 2024 1,220,093 151,767 119,635 1,491,495 1,220,093 151.767 119,635 1491,495 Depreciation.. As at 1 April 2023 Charged in the year As at 31 March 2024 660,651 26,527 687.178 151,767 119,635 932,053 26,527 958,580 151,767 119.635 Net book value: As at 1 April 2023 559,442 559,442 As at 31 March 2024 532 915 532.915 All fixed assets are held at historic cost. Included in Voluntary Action Centre is £159,000 of freehold land which has not been depreciated. Debtors 2023 2023 Grants ceiVable Other debtors 146.319 4,844 151,163 103,393 2,961 106,354 All amounts are due within one year from the balan sheet date. Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals & Deferred Income 31,165 39,278 70,443 8,822 76,722 85,544 Deferred Income 2024 2023 Brought Forward Amount released to Income Resources Amount Deferred in the year Analysis of Net Assets between funds Pension scheme liability Net current assets Fixed assets Total Restricted funds Unrestricted funds.. Designated funds General funds Pension reserve At 31 March 2024 14 327,407 327,407 13 13 39 532,915 762,814 88,271 1,295,729 88,271 532.915 1,178,492 1711407 19
Southampton Voluntary Services Notes to the Financial Statements for the year ended 31 March 2024 Pension scheme liabilÈty Net current assets Fixed assets Total Restricted funds Unrestricted funds.. Designated funds General funds Pension reseNe At 31 March 2023 14 375,570 375,570 13 43 39 559,442 736,287 92.574 1,295,729 92,574 559.442 1.204,431 1,763,873 Net lexpenditure) for the year 2024 2023 Net (expenditure) for the year is stated after charging: Depreciation Independent Examination (including VAT) 26,527 1,200 28.659 1,100 Staff Costs 2024 2023 Salaries and wages Social security costs Pension costs: HCC Pension Fund- cash basis stakeholder scheme- matched contributions 352.747 27,445 368,953 30,353 4,481 9,686 413,473 11,802 391.994 No employees received remuneration more than £60.000 (2023: 1) Key Management personnel comprise of the Chief Executive Officer, the Senior Manager Business & Finance and the Senior Manager Operations & Programmes. The total benefits received by key management was £144,390 (2023.. £144,363) Average number of employees.. 2024 2023 Project workers (full time) Management and administration (full time) Project workers (part time) Management & Administration (part time) 18 18 Income Unrestricted Restricted funds funds Total 2024 Totsl 2023 Unrestricted income: Office & Other 42,931 42,931 16,410 Restricted income (note 14).. Restricted Projects Shopmobility 646,021 53.462 699 483 646,021 53,462 742 414 823,163 45,943 885,516 42,931
Southampton Voluntary Services Note8 to tlie Financial Statements for the year ended 31 Mareh 2024 10 Investment income All of the charity's investment income arises from interest bearing deposit accounts. 11 Expenditure Unrestricted Restr(eted funds funds Total 2024 Total 2023 Core management & support costs Restricted expenditure (note 14}. Restricted Projects Shopmobility 45,234 45,234 16,794 696.922 50.724 747.646 696,922 50,724 792,880 810,178 57,964 884.936 45,234 12 Unrestricted funds At1Apr At31 2023 Movement Transfers Mar 2024 Note Desi VAC Propety Staffing reserve Building maintenance Computer and office equipment Legal nated funds 559.442 510,651 142,636 30,000 20,000 33.000 1,295,729 {26,527) 26,527 532,915 537,178 142,636 30,000 20,000 33,000 1,295,729 General funds General reserve 90,574 2,303 88,271 Other funds Pension reserve 3g 156.000 156.000 Total unrestricted funds 1.221,687 164,616 1,384,000 At1Apr At31 2022 Movement Transfers Mar 2023 Note Desi VAC Propety Staffing reserve Building maintenance Computer and office equipment Legal nated funds 585,969 484,124 142.636 30,000 20,000 33.000 1,295,729 (26,527> 26,527 559,442 510.651 142,636 30,000 20,000 33,000 1,295,729 General funds General reserve 81,958 8.616 90,574 other funds Pension reserve 156,000 156,000 Total unrestricted funds 1,221,687 164.616 1,386.303 The VAC depreciation reserve was set up when the Voluntary Action Centre was built in 2003 and represents the remaining net book value of the VAC. Each year a transfer is made to release from the reseNe into the Property fund an amount equal to the annual property depreciation. The total of these two reseNes equates to the cost price of the VAC less impairment provisions.
Southampton Voluntary Services Notes to tlie Financial Statements for the year ended 31 March 2024 The other designated reserves are funds set aside for specific purposes essential for the future operation of the charity in the short to medium term. Transfers are made between these funds and the general reserve as required. The Pension reserve was set up as a result ofthe implementation of SORP 2005 and continued under SORP 2015. This introduced the new heading of°Defined benefit pension scheme liability. into the assets and liabilities section of the balance sheet, matched by the introduction of a specific negative Pension reserve in unrestricted funds. q 3 Restricted funds At1Apr Incoming 2023 resources Outgoing resources Transfers At31 Mar 2024 Volunta Sector Su ort Community development Icapacity building Health Voluntary sector training Community Roots Healthwatch Fairness Commission Pippa VAC contributions SO Linked YPF Trust SO Lets Connect Buildings & I nnovations Access to Work Total- Voluntary Sector Support 106,063 73,572 9,988 26,048 40.282 2,747 5,061 8,659 28,206 100 87.217 6,358 36,107 41,383 (44,111} (42.291) 98,059 72,664 9,988 22,907 46,312 2,747 5,061 4,459 22,813 3,020 49,012 6,358 3.600 141,663 (6,741) (135.633) (4,200) (416,010) (2,080) (38,205) 410,617 5,000 7,651 646, 021 7,651 (696.922) 394.301 343, 400 Pro ecls Shopmobility - General fund Shopmobility - Charitable and other funds Subtotal - Shopmobility 4,883 23.614 (18.731) 4,883 20,876 (15,993) 53.462 53,462 50.724 (50, 724) Total- Projects 18.731 53,462 50. T24 15,993 375.570 699.483 747,646 327,407 At1Apr 2022 Incoming resourees Outgoing resources Transfers At31 Mar 2023 Volunta Sector Su ort Community development Icapacity building Health Voluntary sectof training Community Roots Healthwatch consultation Fairness Commission Pippa VAC contributions SO Linked YPF Trust SO Lets Connect Buildin s & Innovations Total- Voluntary Sector Support 74,625 81,553 9,988 25,599 39.394 2,747 5,061 8.659 42,469 57,527 92,352 (26,089) (100,333) 106.063 73,572 9,988 26,048 40,282 2,747 5,061 8,659 28,206 100 87,217 6,358 394,301 3,703 180,891 (3.254) (180,003) 450,200 10,000 28,490 (464,463> (9,900} {26,1361 84,863 6,358 381,316 823, 163 (8t0. 178) Pro'ects Shopmobility - General fund Shopmobility - Charitable and other funds Subtotal - Shopmobility 4.883 11.593 (6, 710) 4,883 23,614 (18,731) 45.943 45. 943 57.964 (57.964)
Southampton Voluntary Services Notes to tlie Financial Statements for the year ended 31 March 2024 Total Projects 45.943 57.964 374.606 869. 106 868. 142 375. 570 14 Government grants Income from govemment contractlgrants comprises perfomiance related contracvgrants by the local authority to fund the core activities and projects during the year. Revenue funding from the council amounted to £576,432 (2023.£724,875) Cash paid to Southampton City Council amounted to £10,831 (2023.. £10,377). Balances included in debtors are £120.406 (2023. £92,580) & creditors are £nil {2023.' £54}. 15 Corporation Tax The charity is exempt for tax on income and grants falling within Taxes Act to the extent that there are applied to its charitable objects. 16 Reconciliation of net movement in funds to the net cash flow from operating activities 2024 2023 Net Movement in funds {50.466) 26,527 (23,829) 165,580 Add back depreciation charge Less Investment income 28,659 (2,940} {156.000) 13,522 (1,776> Pension Movement Decreasel(Increase) in debtors (Decrease)Ilncrease in creditors (44.809) (15.101) Net cash used in operating activities 107,678 47,045 17 Financial Instruments 2024 2023 Financial assets Financial assets that are measured at amortised cost 1,248.935 1,287 975 Financial liabilities Financial liabilities measured at amortised cost 70.443 85,544 18 Prior year income & expenditure Unrestricted Funds Restricted Funds Total Funds 2023 Total Income 16.410 869,106 885,516 Totsl Expenditure 16,794 868,142 884,936