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← Slough Council For Voluntary Service

2024-09-30-accounts

REGISTERED COMPANY NUMBER: 03523907 (England and Wales) REGISTERED CHARITY NUMBER: 1069086

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

FOR

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

Accura Accountants Ltd (Statutory Auditor) Langley House Park Road East Finchley London N2 8EY

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

Page
Chairman's Report 1
Report of the Trustees 2 to 8
Report of the Independent Auditors 9 to 12
Statement of Financial Activities 13
Balance Sheet 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 25

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

CHAIRMAN'S REPORT FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

Reflections from the Chair

On behalf of the Trustees, I am pleased to present the Chairman's Report for Slough CVS, covering the 18 months ending 30th September 2024. This period has been marked by significant activity and achievement, showing our commitment to supporting the voluntary sector and the wider community in Slough and RBWM.

Despite challenges like the cost-of-living crisis and pandemic recovery, Slough CVS has shown great resilience. Our team has worked hard to ensure our services continued and expanded to meet our community's needs.

I want to thank our staff, volunteers, and trustees for their hard work and dedication. Their efforts have been crucial to our success.

Although our annual accounts for the year ended 31st March 2023 were filed late due to external auditor submission issues (despite Slough CVS submitting on time), we remain transparent and accountable. To forestall any repetition of this circumstance we have appointed new auditors and changed our accounting year end to 30th September.

As we look ahead, we are energised by the strength of our partnerships and the potential for even greater community impact, we will continue to adapt to our community's needs, building a more resilient and connected Slough.

Jamie Green (Chairman)

26/06/2025

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SLOUGH COUNCIL FOR VOLUNTARY SERVICE (REGISTERED NUMBER: 03523907)

REPORT OF THE TRUSTEES FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

Summary

We are pleased to present the Annual Report and Financial Statements for Slough CVS for the period ending 30th September 2024. The financial statements comply with the Companies Act 2006, the Charity's Memorandum and Articles of Association, the Charities Act 2011 and 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).

This report outlines Slough CVS's activities, services, achievements, and challenges during the 2023–2024 financial year. It highlights the organisation’s growth, strategic priorities, partnerships, and outcomes across various initiatives. We continue to support and strengthen Slough’s voluntary and community sector, expanding services, addressing health inequalities, and working collaboratively through the #OneSlough model to meet the community’s changing needs.

Highlights

During the financial period, Slough CVS has focused on several key priorities, including:

Capacity Building and Volunteering

We revitalised the volunteer sector, launching multiple engagement events to recruit and connect individuals with local voluntary groups, delivered an expanded training programme and supported many groups to secure income.

Health and Wellbeing Initiatives

Our efforts to tackle health inequalities were complemented by a series of community-led initiatives. The Wellbeing Friends service continued to provide essential befriending support for isolated and vulnerable residents.

Tackling Health Inequalities

We expanded our community health initiatives and worked to reduce barriers to healthcare access.

Overview of Key Services and Initiatives

2023-2024 has been an extraordinary year of transformation and impact for Slough CVS. Despite evolving challenges, we have seen our community thrive through collaboration, innovation, and resilience.

During the financial period, we witnessed the power of local partnerships in action-from teaming up with Slough Borough Council and the NHS to mobilising hundreds of volunteers through our #OneSlough initiative. Together, we responded to urgent community needs, supported vital health and wellbeing campaigns, and provided over £2 million in funding to empower grassroots organisations. With each milestone, we have built a stronger, more connected community. Looking ahead, we are more motivated than ever to continue our work, create lasting change, and ensure Slough remains a place where everyone can thrive.

#OneSlough Partnership

In response to changing community needs, the #OneSlough model has grown, evolving from an emergency response initiative to a robust volunteer-driven partnership model. During the financial period, we maintained a central volunteer database of over 1,000 individuals and continued to strengthen collaborations with the NHS, local businesses, and Slough Borough Council to serve the community's needs.

#OneSlough Community Fund

In 2023-2024, the #OneSlough Community Fund played a vital role in supporting grassroots organisations, awarding grants to 44 community groups funding 78 projects providing over 10,940 interventions to residents.

The Fund supported projects that aligned with key local priorities, including health, social inclusion, and environmental sustainability. In partnership with local NHS, public health representatives, and businesses, we hosted a series of funding workshops and provided expert advice to applicants, ensuring the effective use of available resources.

Capacity Building and Training

Our training programme saw 1,374 attendees across 91 sessions, offering crucial skills for voluntary sector organisations. Topics included befriending, first aid, volunteer management, mental health, safeguarding, funding support and conflict resolution. We also provided training to groups in the Royal Borough of Windsor and Maidenhead to expand our reach and impact.

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SLOUGH COUNCIL FOR VOLUNTARY SERVICE (REGISTERED NUMBER: 03523907)

REPORT OF THE TRUSTEES

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

Our commitment to capacity building was evident through the delivery of 91 training sessions attended by approximately 1,000 individuals. The courses covered a range of topics, such as:

These sessions, delivered both online and in person, equipped local voluntary organisations with essential knowledge and skills to succeed in a rapidly changing environment. In 2023, we expanded our bespoke cultural competency and mental health training to over 200 statutory and NHS partners, working together to drive positive change and raise awareness of the needs of Black, Asian and diverse communities, including refugees and asylum seekers.

Volunteer Passport training was also delivered to WAM groups, covering five core areas: safeguarding, confidentiality and boundaries, communication, and equality and diversity.

In October 2023, we hosted a successful Diversity Day, funded by an Awards for All grant from the National Lottery, with over 100 participants. The event celebrated shared community experiences and featured workshops and panels on neurodiversity, specific ability needs, different faiths and cultures, and diverse gender identities.

Slough Quality Protects (SQP)

SQP is a comprehensive quality assurance programme designed for local community and voluntary organisations. It provides these organisations with a structured framework to demonstrate the quality of their services to a wide range of stakeholders, including service users, staff, volunteers, sponsors, statutory organisations, and other influential entities. As part of the application process for the #OneSlough Community Fund, applicants are required to complete the SQP accreditation to ensure they meet high standards of service delivery and operational effectiveness. This year, SCVS supported a total of 44 organisations in working towards achieving their SQP accreditation, providing guidance and resources to help them navigate the process and improve their service quality.

Funding Support

Slough CVS facilitated over £2.9 million in external funding for local groups. Through our funding advice services, we supported organisations in accessing grants and navigating the complex bid-writing process. We also continued to provide a comprehensive list of funding opportunities and workshops for local charities.

Volunteering

Our Wellbeing Friends service continued to support vulnerable and isolated residents, providing over 1,000 hours of volunteering. These volunteers not only alleviated loneliness but also helped improve participants' mental health by facilitating meaningful conversations and connections to other community resources.

Additionally, we strengthened our partnerships with local organisations including Ways into Work, offering tailored volunteering opportunities for individuals with learning disabilities and additional needs. This partnership resulted in successful placements in administrative roles and environmental projects, empowering individuals to build confidence and skills. Our NHS partnerships remained strong, with #OneSlough volunteers continuing to assist at Langley Health Centre's COVID-19 clinics, ensuring the smooth operation of vaccination services and improving patient experiences.

Health Inequality Initiatives

Slough CVS played a key role in addressing health disparities, particularly in underrepresented communities. Initiatives like the Health Ramadan event and health information sessions at Manor Green Medical Centre helped raise awareness and provided essential health resources. In total, we engaged over 2,000 residents in health-focused activities throughout the year. Slough CVS continued its work on tackling health inequalities by organising a series of health information events and wellness campaigns throughout the year. These included:

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SLOUGH COUNCIL FOR VOLUNTARY SERVICE (REGISTERED NUMBER: 03523907)

REPORT OF THE TRUSTEES FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

In collaboration with local health organisations, we organised additional sessions focused on mental health, smoking cessation, healthy weights, diabetes and other chronic conditions, ensuring our community was better informed and equipped to manage their health and wellbeing.

Community Connectors

Our Community Connectors service played a crucial role in reducing pressure on adult social care services. By providing a direct link to community-based services, the Connectors helped 940 clients navigate challenges related to housing, food insecurity, mental health, and general wellbeing. Through outreach initiatives and partnerships with local statutory and community organisations, the team successfully enhanced service delivery and built stronger networks across Slough.

Wellbeing for Slough Directory

The Wellbeing for Slough Community Directory, launched in 2023, is a comprehensive online resource that allows Slough residents to find activities and services to support their wellbeing. This project is a collaborative effort between Slough CVS, the voluntary sector, and statutory organisations and since has developed and grown with over 100 organisations listed enabling professionals and residents to find a social prescription to improve health and wellness long term.

Wellbeing Friends

The Wellbeing Friends befriending service has supported vulnerable residents with over 1,000 hours of volunteer help. Our Community Connectors service has also helped 882 clients, reducing pressure on adult social care.

Slough CVS Communications

The Slough CVS Communications (comms) team support all Slough CVS activities. This includes reviewing and proofreading all external documents and support with organisation and promotion of Slough CVS events and projects. The team maintain the Slough CVS, #OneSlough, Wellbeing for Slough Directory on a regular basis and ensure that the voluntary sector in Slough is well-informed, supported, and celebrated for their contributions, most notably through the #OneSlough Awards. They collaborate with Slough SBC, Public Health and Frimley Health to disseminate health information into the community.

Resource Centre and Community Hub

Slough CVS's Resource Centre at 27 & 29 Church Street has been a vital space for community organisations, hosting over 2,116 hours of activities and providing a venue for meetings, training, and events. Both 27 and 29 Church Street premises served as central hubs for various initiatives, offering a collaborative space for statutory and voluntary sectors to work together for the benefit of the community.

WAM Get Involved

Slough CVS has successfully delivered WAM Get Involved services, offering vital support and guidance to a network of over 300 charities, voluntary groups, and community organisations-made possible through external funding. These services include training sessions, online workshops, network forums, and news alerts featuring funding opportunities.

In 2024, the Voluntary and Community Partnership was formalised, bringing together partners such as RBWM, Windsor Ascot and Maidenhead Community Forum, Adult and Community Learning, and Berkshire Community Foundation. This collaborative effort established a dedicated forum to strengthen the voluntary sector through partnership working. The forum serves as a safe space for dialogue between voluntary and statutory stakeholders, while also facilitating the exchange of best practices, resources, and discussions on key challenges such as funding, volunteer recruitment, raising awareness, and ensuring diverse community representation.

Looking Ahead: Building for the Future

As we move forward, Slough CVS will continue to strengthen partnerships with statutory, voluntary, and business sectors to ensure a collaborative approach to tackling the challenges of the future. The #OneSlough model will remain central to our work, helping us navigate ongoing issues such as food and fuel poverty, inflation, and health inequalities.

Accolades & Recognition

In April 2023, Slough CVS was awarded the Volunteer Centre Quality Accreditation (VCQA), through the National Association of Voluntary and Community Action (NAVCA). This is the quality mark for organisations delivering local Volunteer Centre functions. It provides assurance to members of the public seeking volunteer opportunities, involving volunteer organisations, partners, commissioners and funding organisations, that the holder provides a high quality and effective local service. The accreditation is valid for 3 years.

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SLOUGH COUNCIL FOR VOLUNTARY SERVICE (REGISTERED NUMBER: 03523907)

REPORT OF THE TRUSTEES FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

Slough CVS is currently going through the LIQA (Local Infrastructure Quality Assurance) with NAVCA for which we will be assessed across four functions: Leadership and Advocacy, Partnerships and Collaborations, Capacity Building and Volunteering.

Conclusion

The year 2023-2024 has been one of resilience, growth, and positive change for Slough CVS. Despite the challenges posed by the cost-of-living crisis and health disparities, we have continued to strengthen our services, expand our reach, and build meaningful partnerships. We look forward to the coming years with optimism, confident in our ability to meet the evolving needs of the Slough and RBWM community and contribute to a healthier, more connected town.

Sustainability and Environmental Commitment

Slough CVS is committed to reducing its environmental impact. We use 100% renewable electricity at our premises and have implemented energy-efficient measures, including insulation and energy-efficient boilers. Our digital-first approach minimises paper use, and we have an active recycling programme.Slough CVS remains committed to sustainability, using renewable energy for our premises and reducing our carbon footprint through digital communications and efficient operations. We aim to increase our focus on sustainable practices and continue reducing our environmental impact.

FINANCIAL REVIEW

Financial position

Slough CVS's primary income sources remain grants, contracts with local authorities, and the NHS. We are committed to diversifying our funding base, including exploring donations via platforms like Local Giving and applying for grant income from a variety of sources, including The National Lottery. During the year we received rental income from our two properties at 27 and 29 Church Street. While the majority of our funding comes from statutory sources, we are working to grow income from donations and fundraising efforts in the coming years.

Slough Borough Council remains our largest contract, providing vital funding for infrastructure and adult care support services. Additionally, we worked on projects addressing health inequalities, generating revenue of £143,400.Operating results for the year were consistent with previous periods, with total funds at £1,493,357 (2023:£1,366,230) at year-end.

Fundraising Statement

Slough CVS primarily generates income through grants and contracts with statutory organisations, including the local council and NHS. We are working to grow our fundraising activities, encouraging donations through our website and local platforms. We do not use third-party suppliers for fundraising efforts and have not received any complaints during the year. Most of our funding comes from statutory sources, supporting core services, while additional funding from statutory and trust sources helps fund specific projects. A small portion of our income comes from property rental.

We have received no complaints during the year, and our website clearly outlines how the public can file complaints if necessary.

Investment policy and objectives

Slough CVS maintains three bank accounts: a current account, an instant access deposit account, and a term deposit account. Surplus funds are placed in the term deposit account, which earned an interest rate of 0.3% per annum.

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SLOUGH COUNCIL FOR VOLUNTARY SERVICE (REGISTERED NUMBER: 03523907)

REPORT OF THE TRUSTEES

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

FINANCIAL REVIEW

Reserves policy

Slough CVS maintains two unrestricted funds:

General Fund : Covers day-to-day operations, including project management for Slough Borough Council and managing our Church Street premises.

Pension Reserve Fund : Reflects our share of the Local Government Pension Scheme deficit.

We also have three restricted funds:

Youth Participation Fund : Supports youth activities in Slough. Capital Fund: Set aside for future capital projects. Home Slough Fund: Promotes arts opportunities in Slough.

In addition, three designated funds are maintained for property-related expenses, including the Leasehold Property Fund, Leasehold Additions Fund, and Sinking Fund for major property repairs.

The Directors are committed to maintaining a General Fund equivalent to at least 6 months of operating expenses, excluding property-related costs covered by rental income. The reserve level for the General Fund and Sinking Fund are adequate for the charity's needs.

Going concern

The Directors consider that sufficient funds are in place, having secured a three-year contract for the delivery of services from the Local Authority (with a further two years’ funding subject to performance), and that there are no material uncertainties regarding the Charity’s ability to continue as a going concern

FUTURE PLANS

Slough Borough Council continues to experience financial challenges with continued intervention from central commissioners following the 2021 issue of a Section 114 Notice, impacting non-essential spending. However, Slough CVS secured a 3+1+1-year contract from Slough Borough Council for infrastructure support services in 2023. While the charity is well-positioned with current funding and reserves, we are actively exploring new income streams to diversify funding sources, including a successful application to The National Lottery for three years core funding.

There are no immediate plans for major capital expenditure.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Slough CVS is a Charity registered with the Charity Commission under registration number 1069086. It is also registered at Companies House as a private charitable company limited by guarantee under company number 03523907

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. Slough CVS has 185 members who each contribute £1 in the event of winding up the company. The Board of Directors is elected every two years by the members to oversee the charity's affairs.

Recruitment and appointment of new trustees

The members elect a Board (which for historic reasons are referred to as the Council of Management) every two years to oversee the affairs of the charitable company.

Organisational structure

The day to day management of SCVS is undertaken by the Chief Executive Officer (CEO) who reports to the Chairman and Board. The CEO has written delegated approved by the Board sufficient to manage day-to-day operations. The Board meets approximately 6 times a year to consider major strategic and operational matters, including management accounts, the annual budget and the statutory accounts. There is also a subgroup of the Board (The Finance and General Purpose Committee) that meets on an ad hoc and more frequent basis when circumstances require. Volunteers have contributed greatly to the effectiveness of SCVS. Their expertise in the fields of financial and general administration has been particularly helpful.

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SLOUGH COUNCIL FOR VOLUNTARY SERVICE (REGISTERED NUMBER: 03523907)

REPORT OF THE TRUSTEES FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Induction and training of new trustees

Potential Directors undergo induction with the CEO and Chair. The induction comprises structure and function of SCVS' organisational roles and responsibilities and legal roles and responsibilities. Potential Directors are then introduced to staff and other board members. They are encouraged to spend time getting to know staff and members and are encouraged to attend a program me of both internal and external Governance training.

Key management remuneration

The Directors consider that the Board and the senior management team comprise the key management personnel responsible for controlling and operating the Charity. All the Directors give their time freely and are unpaid.

All staff salaries are reviewed annually, although they are not necessarily increased each year. Salary increases depend on market rates for similar positions in the voluntary sector and the financial position of the Charity at the time.

Related parties

No Director receives a salary or any other benefit from their work with the Charity. Some Directors are employees of charities or voluntary organisations that may have a direct or indirect interest in Slough CVS projects, and as such would be considered a related party. These circumstances are disclosed in the Register of Directors' Interests. Where appropriate, the Director would absent him or herself from relevant decisions or meetings.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

An annual risk review helps identify and prioritise risks and appropriate mitigation actions are taken. The charity has policies and procedures to manage identified risks.

A review of the risks to which the charity is exposed is conducted annually. The review looks at risks affecting the administration and staff of the charity. The risks identified were various e.g. operational, strategic and financial. Each identified risk was prioritised by allocating a judgement score on the level of the risk and the likelihood of each risk item. Actions as necessary were then identified and allocated to various staff or board members to mitigate those risks. Also, the charity has a series of robust policies and procedures in place to identify clearly the appropriate work practices, all of which are reviewed regularly.

One risk the directors have considered in particular is the risk associated with our membership of the Local Government Pension Scheme (the Scheme) which is a defined benefit scheme. On current and forecast contribution rates the directors consider the Scheme is affordable and, after due consideration of other relevant factors, intend to continue membership of the Scheme for the foreseeable future.

REFERENCE AND ADMINISTRATIVE DETAILS

Charity Number: 1069086 Company Number : 03523907 Registered Office: 27 Church Street, Slough, Berkshire SL1 1PL Auditors: Accura Accountants Limited, Langley House, Park Road, East Finchley, London N2 8EY Bankers : Bank of Scotland, 3rd Floor, 8 Lochside Avenue, Edinburgh, EH12 9DJ. Solicitors : Aston Bond, Windsor Crown House, 7 Windsor Rd, Slough SL1 2DX Insurers : Lark (Group) Ltd, Colman House, King St, Maidstone ME14 1DN

Director / Trustees

Jamie Green (Chairman) Dr Ambily Banerjee Thomas Conlin (Interim Treasurer) Gautam Saraogi Kameljeet Bhatti - appointed on 20/05/24 Andalina Kadri - resigned 16/12/2024

Key Management Personnel

CEO: Ramesh Kukar (retired 31st December 2023) Acting CEO: Asma Aziz (from 1st Novermber 2024) Director of Operations: Vicki Atherton

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SLOUGH COUNCIL FOR VOLUNTARY SERVICE (REGISTERED NUMBER: 03523907)

REPORT OF THE TRUSTEES

FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

EVENTS SINCE THE END OF THE PERIOD

Information relating to events since the end of the period is given in the notes to the financial statements.

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Slough CVS for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and UK 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

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

In so far as the trustees are aware:

AUDITORS

The auditors, Accura Accountants Ltd (Statutory Auditor), will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 25 June 2025 and signed on its behalf by:

J F Green - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SLOUGH COUNCIL FOR VOLUNTARY SERVICE

Opinion

We have audited the financial statements of Slough Council for Voluntary Service (the 'charitable company') for the period ended 30 September 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SLOUGH COUNCIL FOR VOLUNTARY SERVICE

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

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

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

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SLOUGH COUNCIL FOR VOLUNTARY SERVICE

Our responsibilities for the audit of the financial statements

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

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

To identify risks of material misstatement due to irregularities, including fraud and non-compliance with laws and regulations, we performed a risk assessment considering factors that could lead to such irregularities. Our procedures included:

• Enquiries of the Trustees and management regarding the Charity’s policies for preventing and detecting irregularities, and any known or suspected instances of fraud or breaches of relevant laws and regulations.

• Reading Board minutes and inspecting relevant policy and legal documentation.

• Performing analytical procedures to identify any unusual or unexpected relationships.

We obtained an understanding of the legal and regulatory framework applicable to the Charity through discussion with management and Trustees, drawing on our sector experience. This included laws and regulations that have a direct impact on the financial statements, such as those relating to financial reporting and taxation, as well as those that may not directly impact the statements but are fundamental to the Charity’s operations—such as employment and health and safety legislation.

As required by auditing standards, we limited our procedures for indirect laws and regulations to inquiries of management and review of regulatory correspondence. Where such matters are not disclosed or evident, an audit cannot be relied upon to detect non-compliance.

We communicated relevant risks to the audit team and remained alert to potential indications of fraud or non-compliance throughout the engagement. Based on our risk assessment, we designed audit procedures accordingly, including:

• Incorporating an element of unpredictability into the nature, timing, and extent of our procedures;

• Reviewing accounting for significant income streams against the Charities SORP;

In addressing the risk of fraud, we considered management’s ability to override controls and the potential for revenue recognition issues. Our procedures included testing journal entries, reviewing significant accounting estimates for potential bias, and evaluating the rationale behind unusual transactions. We discussed potential fraud risks and areas susceptible to misstatement with the engagement team.

While we conducted our work in accordance with auditing standards, we note that there are inherent limitations in any audit. The further removed non-compliance is from transactions captured in the financial statements, the less likely it is to be detected. Additionally, fraud carries a greater risk of undetected material misstatement due to its potential for concealment through collusion, forgery, or deliberate misrepresentation.

Responsibility for preventing and detecting fraud and ensuring compliance with laws and regulations rests with the Charity’s management and those charged with governance. Our procedures are designed to obtain reasonable assurance, but not to identify all irregularities that may exist.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SLOUGH COUNCIL FOR VOLUNTARY SERVICE

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

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

Mr Brian Melville Leighton FCCA (Senior Statutory Auditor) for and on behalf of Accura Accountants Ltd (Statutory Auditor)

Langley House Park Road East Finchley London N2 8EY

25 June 2025

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SLOUGH COUNCIL FOR VOLUNTARY SERVICE

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Other income
4
Total
EXPENDITURE ON
Charitable activities
5
Charitable activities
Movement on Pension Reserve
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
775,697
177
195,963
971,837
899,832
(61,000)
838,832
133,005
940,285
1,073,290		 Restricted
fund
£
47,707
-
-
47,707
53,585
-
53,585
(5,878)
425,945
420,067		 Period
1.4.23
to
Year Ended
30.9.24
31.3.23
Total
Total
funds
funds
£
£
823,404
955,668
177
1,495
195,963
138,711
1,019,544
1,095,874
953,417
1,059,770
(61,000)
(282,000)
892,417
777,770
127,127
318,104
1,366,230
1,048,126
1,493,357
1,366,230

The notes form part of these financial statements

Page 13

SLOUGH COUNCIL FOR VOLUNTARY SERVICE (REGISTERED NUMBER: 03523907)

BALANCE SHEET 30 SEPTEMBER 2024

30.9.24 31.3.23
Unrestricted Restricted Total Total
funds fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 12 248,733 - 248,733 256,653
CURRENT ASSETS
Debtors 13 110,177 - 110,177 83,005
Cash at bank 956,030 420,067 1,376,097 1,516,531
1,066,207 420,067 1,486,274 1,599,536
CREDITORS
Amounts falling due within one year 14 (185,650) - (185,650) (372,959)
NET CURRENT ASSETS 880,557 420,067 1,300,624 1,226,577
TOTAL ASSETS LESS CURRENT
LIABILITIES 1,129,290 420,067 1,549,357 1,483,230
PENSION LIABILITY (56,000) - (56,000) (117,000)
NET ASSETS 1,073,290 420,067 1,493,357 1,366,230
FUNDS 15
Unrestricted funds 1,073,290 940,285
Restricted funds 420,067 425,945
TOTAL FUNDS 1,493,357 1,366,230

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 25 June 2025 and were signed on its behalf by:

J F Green - Trustee

The notes form part of these financial statements

Page 14

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

CASH FLOW STATEMENT FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 Period
1.4.23
to
30.9.24
£
(140,257)
(140,257)
(177)
(177)
(140,434)
1,516,531
1,376,097		 Year Ended
31.3.23
£
(19,829)
(19,829)
(1,495)
(1,495)
(21,324)
1,537,855
1,516,531

The notes form part of these financial statements

Page 15

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

NOTES TO THE CASH FLOW STATEMENT FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Interest received
(Increase)/decrease in debtors
Decrease in creditors
Difference between pension charge and cash contributions
Net cash used in operations
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.23
£
Net cash
Cash at bank
1,516,531
1,516,531
Total
1,516,531		 Period
1.4.23
to
30.9.24
£
127,127
7,920
177
(27,172)
(187,309)
(61,000)
(140,257)
Cash flow
£
(140,434)
(140,434)
(140,434)		 Year Ended
31.3.23
£
318,104
5,280
1,495
182,245
(244,953)
(282,000)
(19,829)
At 30.9.24
£
1,376,097
1,376,097
1,376,097

The notes form part of these financial statements

Page 16

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

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.

The Slough Council for Voluntary Service (Slough CVS - the Charity) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.

Preparation of the accounts on a going concern basis

The Directors consider that sufficient funds are in place, having secured a three-year contract for the delivery of services from the Local Authority (with a further two years’ funding subject to performance), and that there are no material uncertainties regarding the Charity’s ability to continue as a going concern

Income

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

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Expenditure

All resources expended are accounted for on an accruals basis for all funds, inclusive of irrecoverable VAT. Where expenditure is directly attributable to specific activities it is allocated to those activities. In other cases costs may be attributable to more than one activity, in these cases the costs have been apportioned to the individual activities within charitable expenditure and governance costs in accordance with the Basis of Accounting described in detail above. Governance costs comprise all costs relating to the public accountability of Slough CVS and its compliance with regulation and good practice. These costs include costs relating to the statutory audit.

Tangible fixed assets

Assets are capitalised if their cost exceeds £1500.

In November 2012 Slough CVS acquired a 99 year lease on 27 and 29 Church Street from Slough Borough Council on a peppercorn rent. The capitalised amount for Leasehold Property in these accounts represents the acquisition cost of the lease and associated fees. The total cost of the lease is being written off over the life of the lease. In the financial year ended 31st March 2014 an extension was completed at 29 Church Street. The cost of this work has been capitalised and is being written off over 20 years.

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

Building- 1% straight line on cost

Leasehold improvements- 5% straight line on cost

Taxation

The Charitable Company is a charitable institution with exemption from UK taxation under section 505 of the Income and Corporation Taxes Act 1988.

Fund accounting

Unrestricted funds consist of donations, grants and other incoming resources receivable or generated for the objects of the Charity without further specified purpose and are available as general funds.

continued...

Page 17

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

1. ACCOUNTING POLICIES - continued

Fund accounting

Designated funds are amounts agreed to be set aside by the Directors for a specific purpose.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the respective funds, together with a fair allocation of management and support costs, taking into account the budgets for each of the Restricted Funds as approved by the respective donors.

Pensions

Slough CVS participates in the Local Government Pension Scheme, which is a defined benefits scheme providing pensions based on pay and length of service not contributions. Both the Charity and employees contribute to this scheme on a defined scale. The contribution made by the charity in defined pension benefit scheme is treated as expenses. The Charity stopped entry to the Scheme for new employees some years ago. New employees of Slough CVS hold personal pension plans which are defined contribution schemes. The Charity contributes to these plans and employees are free to choose their own contribution rates. Further details of both these schemes are detailed in note 14 to these accounts.

2. DONATIONS AND LEGACIES

Grants
Grants received, included in the above, are as follows:
SBC - Slough Adult Social Care / SPACE
NHS Trusts
Due to other stakeholders (Oneslough)
ACE - The Arts Council - re Home Slough
SPH-Community Champion Welbeing / Vaccination Project
Cadent
Other grants		 Period
1.4.23
to
Year Ended
30.9.24
31.3.23
£
£
823,404
955,668
Period
1.4.23
to
Year Ended
30.9.24
31.3.23
£
£
771,103
612,868
118,000
93,000
(171,311)
(254,444)
28,113
262,975
15,000
241,269
62,500
-
(1)
-
823,404
955,668

continued...

Page 18

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

3. INVESTMENT INCOME

INVESTMENT INCOME
Period
1.4.23
to Year Ended
30.9.24 31.3.23
£ £
Investment income 177 1,495
All the investment income is bank deposit account interest.

4. OTHER INCOME

OTHER INCOME
Other charitable activities
Rental income		 Period
1.4.23
to
Year Ended
30.9.24
31.3.23
£
£
67,278
58,167
128,685
80,544
195,963
138,711
138,711

Rental income arises from the offices and meeting rooms at our properties at 27 & 29 Church Street, which are let to a variety of voluntary organisations at below market rents. The item Other charitable activities includes income from support activities supplementary to our main contracts with Slough Borough Council and the Royal Borough of Windsor and Maidenhead.

continued...

Page 19

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

5. CHARITABLE ACTIVITIES COSTS

Total Expenditure

Unrestricted Restricted
General Pension SPH Fund Home
Slough		 Total Total
Funding Reserve Funding 2024 2023
£ £ £ £ £ £
Expenditure
Staff costs 629,908 629,908 487,172
Staff recruitment - - 429
Premises 52,352 52,352 72,318
Travel & subsistence 2,230 92 2,322 5,668
Training 7,465 7,465 16,486
Telephone 19,832 87 159 20,078 23,881
Office, post &
stationery		 8,726 467 149 9,342 44,935
Computer supplies 43,436 43,436 37,799
Provision: doubtful
debt		 5,000 5,000 -
Depreciation 7,920 7,920 5,280
Other expenditure 61,075 14,289 38,342 113,706 288,867
Governance:
Audit 6,850 6,850 5,610
Admin 13,005 13,005 44,772
Staff costs 42,033 42,033 26,554
Total expenditure 899,832 14,935 38,650 953,417 1,059,771
Movement on Pension
Reserve 61,000 61,000 282,000

continued...

Page 20

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

6. SUPPORT COSTS

SUPPORT COSTS
Governance
costs
£
Charitable activities 953,417
Movement on Pension Reserve (61,000)
892,417

7. NET INCOME/(EXPENDITURE)

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

Period
1.4.23
to Year Ended
30.9.24 31.3.23
£ £
Depreciation - owned assets 7,920 5,280
Auditors' remuneration 6,850 5,610

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 30 September 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the period ended 30 September 2024 nor for the year ended 31 March 2023.

9. STAFF COSTS

Staff costs and numbers 2024 2023
£ £
Salaries and wages 564,598 416,553
Social security costs 46,260 38,917
Pension costs 30,980 31,701
Adj: prior year pension short-term provision (11,930) -
629,908 487,170

No employee received benefits of more than £60,000. No directors were paid, neither were they reimbursed expenses in the year (2023: £nil). No directors received payment for professional or any other services supplied to the Charity (2023: £nil). The key management of the Charity (excluding the directors) comprise the Chief Executive Officer and the Director of Operations. The total employee benefits of the key management personnel were £119,848 (2023: £74,823).

The average monthly number of employees during the period was as follows:

Period
1.4.23
to Year Ended
30.9.24 31.3.23
Average monthly head count 15 16

continued...

Page 21

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES AS OF 31 MARCH 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES AS OF 31 MARCH 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES AS OF 31 MARCH 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES AS OF 31 MARCH 2023
Unrestricted Restricted Total
funds fund funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 451,424 504,244 955,668
Investment income 1,495 - 1,495
Other income 138,711 - 138,711
Total 591,630 504,244 1,095,874
EXPENDITURE ON
Charitable activities
Charitable activities 565,482 494,288 1,059,770
Movement on Pension Reserve (282,000) - (282,000)
Total 283,482 494,288 777,770
NET INCOME 308,148 9,956 318,104
RECONCILIATION OF FUNDS
Total funds brought forward 632,137 415,989 1,048,126
TOTAL FUNDS CARRIED FORWARD 940,285 425,945 1,366,230
11. CONNECTED CHARITIES
The Charity is affiliated to the National Association of Councils for Voluntary Service and the National Council
for Voluntary Organisations.
12. TANGIBLE FIXED ASSETS
COST
At 1 April 2023 and 30 September 2024
DEPRECIATION
At 1 April 2023
Charge for year
At 30 September 2024
NET BOOK VALUE
At 30 September 2024
At 31 March 2023		 Improvements
Long
to
leasehold
property
£
£
256,860
52,593
26,500
26,300
3,975
3,945
30,475
30,245
226,385
22,348
230,360
26,293		 Totals
£
309,453
52,800
7,920
60,720
248,733
256,653

continued...

Page 22

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
HMRC receivable
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
Holiday pay
Payments due to partners in SPACE consortium
Accruals and deferred income		 30.9.24
£
110,177
-
110,177
30.9.24
£
115,501
9,490
7,314
53,345
185,650		 31.3.23
£
60,560
22,445
83,005
31.3.23
£
108,451
3,127
133,443
127,938
372,959

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Deferred revenue represents grants received in advance from Slough Borough Council.

15. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated Fund
Restricted funds
Restricted
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Designated Fund
Restricted funds
Restricted
TOTAL FUNDS		 At 1.4.23
£
333,632
606,653
940,285
425,945
1,366,230
Incoming
resources
£
971,837
-
971,837
47,707
1,019,544		 Net
movement
in funds
£
140,925
(7,920)
133,005
(5,878)
127,127
Resources
expended
£
(830,912)
(7,920)
(838,832)
(53,585)
(892,417)		 At
30.9.24
£
474,557
598,733
1,073,290
420,067
1,493,357
Movement
in funds
£
140,925
(7,920)
133,005
(5,878)
127,127

continued...

Page 23

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1.4.22
in funds
£
£
Unrestricted funds
General fund
120,204
313,428
Designated Fund
511,933
(5,280)
632,137
308,148
Restricted funds
Restricted
415,989
9,956
TOTAL FUNDS
1,048,126
318,104
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
591,630
Designated Fund
-
591,630
Restricted funds
Restricted
504,244
TOTAL FUNDS
1,095,874		 Transfers
between
funds
£
(100,000)
100,000
-
-
-
Resources
expended
£
(278,202)
(5,280)
(283,482)
(494,288)
(777,770)		 At
31.3.23
£
333,632
606,653
940,285
425,945
1,366,230
Movement
in funds
£
313,428
(5,280)
308,148
9,956
318,104

16. CONTINGENT LIABILITIES

At 30th September 2024 there were no contingent liabilities known to the directors (2023: £Nil)

17. CAPITAL COMMITMENTS

At 30th September 2024 there were no capital commitments (2023: £Nil)

continued...

Page 24

SLOUGH COUNCIL FOR VOLUNTARY SERVICE

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 1 APRIL 2023 TO 30 SEPTEMBER 2024

18. RELATED PARTY DISCLOSURES

Salaries to key management personnel which comprise of the Chief Executive Officer and the Director of Operations were the only related party transactions during the period ended on 30th September 2024 £119,848 (2023:£74,823).

19. POST BALANCE SHEET EVENTS

Subsequent to the year-end, the Charity received a cessation valuation from the Scheme actuary dated 12 March 2025, estimating a potential cessation liability of £475,332 as at 31 January 2025. This relates to the Charity's planned withdrawal from the Scheme and is treated as a non-adjusting post balance sheet event.

20. PENSIONS

Slough CVS participates in a Local Government Pension Scheme (the Scheme). The Scheme is a multi employer defined benefit scheme and is contracted out of the Second State Pension. The administering authority for the Scheme is the Royal Borough of Windsor and Maidenhead and it is administered in accordance with the Local Government Scheme Regulations 2013.

Members of the Scheme accrue an index linked pension and receive other benefits including a lump sum on retirement according to salary and length of service. The Charity contributed an amount of 5.9% of the gross salary of the member of staff in the Scheme in the year. The employee in the Scheme contributed 2.4% of gross salary in the year. The total Slough CVS contribution to the Scheme in the year was £46,951 (2023: £26,035).

A formal valuation of the Scheme was performed as at 30 September 2024 by the Scheme’s actuaries using the Projected Unit Method. This valuation sets contribution rates and is used to estimate the pension liability under FRS 102. There are no minimum funding requirements in the Scheme, but contributions are generally set to target a funding level of 100% over time.

Based on this valuation, the Scheme is in deficit and the element attributable to the Charity under FRS 102 is £56,000 (2023: £117,000). This represents the accounting estimate of future pension obligations at the year-end.

Employees with personal pension plans (money purchase schemes) contract directly with the relevant insurance company. The Charity makes a contribution of 5% of gross salary to these plans.

The reduction in the reported deficit since 31 March 2023 reflects updated actuarial assumptions and improved market conditions, as reflected in a revised valuation issued by the Scheme actuaries as at 6 June 2025. Although the trustees consider the prior year deficit of £117,000 to be a more indicative measure of the likely exit cost (given the expected withdrawal from the Scheme by 30 September 2025), financial reporting standards require recognition of the most current and reliable estimate at the balance sheet date. Accordingly, the updated valuation as has been used in these financial statements, in line with FRS 102 requirements.

21. PROVISIONS FOR LIABILITIES

Reconciliation of Defined benefit obligation 2024 2023
£ £
Net defined benefit obligation at the beginning of the year 117,000 399,000
Changes in net defined benefit obligation (61,000) (282,000)
Net defined benefit obligation at the end of the year 56,000 117,000
2024 2023
£ £
Present value of defined benefit obligation 794,000 840,000
Fair value of the Fund asset 741,000 727,000
Deficit/(Surplus) 53,000 113,000
Present value of unfunded obligation 3,000 4,000
Net defined benefit liability/(asset) 56,000 117,000

Represents the deficit allocated to Slough CVS on the Local Government Pension Scheme

Page 25