s.c.v.o. Annual Report and Financial Statements Year ended 31 March 2024 Charity number. 1071514 Company number: 03570517 Feltons Chartered Accountants Birmingham B13JR
s.c.v.o. (A company Limited by Guarantee) Report and financial statements Year ended 31 March 2024 Contents Page Reference and administrative details Report of the trustees Independent auditor's report on the financial statements 16 Statement of financial activities incorporating income & expenditure account 20 Balance sheet 21 Cash flow statement 22 Notes forming part of the financial statements, incorporating ststement of accounting policies 23 Other notes to the financial statements 26
s.c.v.o. (A company limited by guarantee) Year ended 31 March 2024 Reference and Administrative Details Trustees Laura Nott (appointed as chair 16.11.2023) Geoffrey Foster (resigned as chair 16.11.2023) Jatinder Basi (resigned 03.04.2024) Claire Dale Jon Grant Mohammed Loan Jacques Matensi-Kubanza Rachel McFee Khatija Patel Luke Tyler Andrew Watson Amy Allan (resigned 09.11.2023) Key management personnel Mark Davis - Chief Executive Officer Stuart Ashmore - Deputy Chief Executive Officer Sajida Carr- Director of Operations and Development Parminder Dosanjh - Creative Director Principal office and Solicitors 1$1 Floor Landchard House West Bromwich Birmingham B70 8ER Charity number 1071514 Company registration number 03570517 Independent auditor Feltons 8 Sovereign Court 8 Graham Street Birmingham B13JR Bankers Lloyds Bank PIC. 65 Capehill Smethwick B66 4SF CAF Bank Ltd 25 Kings Hill Ave Kent ME19 4JQ Page 1
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 The Trustees present their report and the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP)"Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, 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 published in October 2019. Our purposes and activities The purposes of the charity are.. For SCVO and the voluntary sector to have a major influence on the development and implementation of key local strategies. To strengthen SCVO'S role in existing strategic partnerships and to be proactive in developing new ones. To provide an effective voice for the voluntary and community sector at local, regional and national levels. To support and provide high quality, accessible organisational development ServIS to Sandwell's voluntary and community sector through appropriate mechanisms. To develop the appropriate mechanisms to create an effective funding facility for the sector. To diversify SCVO'S funding arrangements through an effective funding strategy. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit.. running a charity (PB2)'. The strategies employed to achieve the charity's aims and objectives are to-. bring together local voluntary and community groups to promote and develop the effectiveness of local voluntary action. raise the quality of, and provide a wicle range of services, information, advice and support to the voluntary and community sector. act as a channel for local groups to voice their opinions on local, regional and national issues and policy. raise the quality of and provide a wide range of services, information, advice and support to the voluntary and community sector. identify real needs and develop servicesl initiatives to meet these needs. actively support the development of new and emerging groups and organisations. contribute to bringing about positive change in Sandwell to achieve sustainable economi regeneration. Page 2
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 SCVO'S core activities can be broadly classified as Capacity Building: the provision of management and development support for voluntary organisations, committees and groups,. and Strategic Engagement activities which facilitate engagement between local groups and various statutory bodies. Putting the above strategies into action we have 5 major areas of activity which are outlined below: 1- Strate icRe resentation & Network Develo ment Representation and Partnership Working: SCVO brings together networks of organisations with common interests and represents their views on strategic partnerships. During 2023124 this work included activities across the whole spectrum of strategic for a including numerous meetings held with elected members, Cabinet Members and local senior officers, as well as formal partnership boards such as the Safer Sandwell Partnership, the Sandwell Safeguarding Adults Board, the Sandwell Health and Care Partnership Board and the Sandwell Health and Wellbeing Board. SCVO also undertook to facilitate intra-sector meetings which built bonds and developed partnership links between local groups. VCS Forums". Funding received from Sandwell MBC for the period 2023124 enabled SCVO to maintain and develop strategic forums in key thematic areas where the voluntary sector have important strategic and delivery contributions to make. The funding also made provision for the development of closer working ties beeen Sector organisations and commissioners, including conversations on service design. There were two distinct elements to this funding:_ 1. VCS Health and Social Care Forum A bi-monthly Forum which brings together voluntary sector providers of health and social care services with key partners in strategic dialogue 2. VCS Children and Young Peoples, Forum A bi-monthly Forum which brings together voluntary sector providers of support to children, young people and families with key partners in strategic dialogue VCS Briefings Provision of engagement events bringing together voluntary sector providers and relevant commissioners, statutory and health partners focusing on significant changes and developments in Sandwell. Sandwell Early Help Partnership: SCVO continued to build and co-ordinate the Sandwell Early Help Partnership, bringing together universal providers to deliver early interventions to children, young people and families. Partners are drawn from a range of organisations and sectors including schools, health settings, voluntary and community organisations, Sandwell Police, Sandwell Council Children's serViS, and Sandwell Children's Trust. The Partnership creates opportunities to build relationships, confidence and strengthen neorkS between support providers through members, events, conferences and local meetings. The Partnership also facilitates the promotion of local services and activities to the general public through face-to-face activity and the Sandwell Family Life website. During this year development and promotion of the Sandwell Early Help website, launched in early 2022, continued. This website provides practitioners and volunteers with information, resources, training opportunities and access to a portal listing targeted support services for children and families. Page 3
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 2 - Sector Develo ment General Development Support: This work includes providing organisations with information on Charity and Company Law and Governance, supporting the start-up of community groups, helping with the development of policies and procedures, facilitating project and business planning processes, and assisting with work towards quality assurance. Fundraising Support". seices include one-to-one support helping voluntary sector organisations to identify funders, trusts and grant-making bodies, supporting in the preparation of funding applications, assisting in development of fundraising strategies and with long-term sustainability. The team also produces a bi- weekly Funding Digest as well as providing a range of funding workshops and training events including regular 'Meet the Funder, events. SCVO continues to proactively engage a number of important grant funders with a view to growing knowledge of funding opportunities and increasing the amount of external funding secured by Sandwell organisations. Volunteering and Community Participation: SCVO continued to develop a broad offer of support around volunteering for local organisations during 2023124, entailing a number of distinct activities. These included.. promotion and growth of the 'Let's Go... website. advertising more than 300 local volunteering opportunities during this year,. convening of the quarterly Volunteer Co-ordinators, Forum for building partnerships, offering peer support and sharing experiences,. provision of information, guidance and training for organisations on volunteering best practice., and regular social media campaigns which helped to advocate and promote to local residents the value of getting involved in their community. In June 2023 around 30 organisations joined our'roadshow, to each of the six towns during National Volunteers, Week, promoting the value ofgetting involved to approximately 250 visiting residents. SCVO+ During 2023124 SCVO continued to deliver ad hoc services for local organisations requiring more intensive and bespoke support on a chargeable basis. The principal areas of support were chargeable consultancy services, the convening of briefing and training events, and utilisation of SCVO meeting rooms and website on a paid-for basis. 3 - Information and Communication Information Services: SCVO'S regular email bulletins are vitsl tools through which the sector can be kept abreast of news, information, legislative changes, strategic and policy developments and capacity-building opportunities in the local, regional and national arenas. SCVO has five websites'.- Page 4
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 SCVO'S corporate website - www.scvo.info - this provides information on SCVO news and services. The Route2wellbeing portal - www.route2wellbein . info - this estsblished website, delivered through a long-term partnership with local health commissioners, provides health professionals, local community and voluntary groups and the general public with information about support services in proximity to their own location. The Sandwell Family Life portal - www.sandwellfamil life.info - is a website providing information to children, young people and family practitioners as well as the general public on activities and support near where they live or work. This website is a key tool to support the work of the Sandwell Early Help Partnership. The Sandwell Early Help portal- www.sandwellearl hel .info- was launched in March 2022 as an information and resource hub for practitioners and all those working to support children, young people and families in Sandwell. It includes a searchable directory of referral-only targeted support services available in Sandwell, complementing the range of universal activities open to all families which are found on the Sandwell Family Life website. The Let's Go website- www.letsaosandwell.info - provides a borough-wide platform for local voluntary organisations and other public service bodies to showcase and advertise their opportunities by which residents and volunteer their time and play a more active role within the community. 4- Grant- ivin Vision 2030 Grant Programme: During 2023124 SCVO received funding from Sandwell Council to deliver a small grants programme for the voluntary sector, which aimed to fund community activity contributing to the ambitions contained within the borough's 'Vision 2030,. The programme had three priorities- Building Social Connections (focusing on tackling loneliness), Youth Activities (tackling isolationlloneliness amongst young people) and Healthy Lifestyles (promotinglsupporting healthy living). Grants were made up to a total of £5,000 with this funding available to organisations over a 2-year period. Additional to the main grant priorities, extra funds were secured andl or distributed during this year to expand the Vision 2030 programme through new focused strands of activity.'_ Food Pantry Development Grants - small grants to enable VCS organisations to support the Sandwell Food Pantry Development Plan Climate change- small grants to support the community response to climate change in Sandwell Community Mental Health - small grants that focus on the area of promoting positive community mental health. Welcoming Spaces- small grants to support the provision of a neOrk of community 'welcoming spaces, during colder weather, accessible to all members of the community Sports Activities- small grants to create new opportunities supporting residents to take part in sport in a community setting, enabling a transition from 'healthy lives, activities into 'sporting' lifestyles LGBTQ+ Health Challenge Fund- small grants to promote and explore ways to improve access to healthcare, particularly in general practice for the LGBTQ+ community, as well as to mental health and wellbeing initiatives tailored to the LGBTQ+ population. This funding also aimed to support Sandwell LGBTQ+ community groups and peer neorkS for different age groups, including older people and young people Page 5
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 Sandwell Emotional Wellbeing Grant Programme: In recognition of the adverse impact that the Covid pandemic had on children and young people in the borough, in early 2021 Sandwell Council invited SCVO to lead on a grant programme to resource local youth charities to provide emotional wellbeing support to affected young people. Utilising £1million of Covid Recovery funds, SCVO launched this grant programme in May 2021. Through 2021122 a wide range of support was delivered by local youth-focused voluntary organisations, including one-to-one mentoring, drop-in sessions, school-based support and counselling. The aims of the programme were as follows'.- To make available to all school aged children in Sandwell support that enables them to address ch211enges with their emotional well-being and mental health, and to develop personal strategies that build confidence and resilience. To target those children and young people who are identified as requiring additional support or access to specialist ServIS where such support is currently not provided. To provide support for children and young people identified as being impacted by domestic abuse, including family support where possible. To deliver immediate support in light of an expected surge in demand from May 2021 and to scale up, develop, test and refine the model during. This programme continued to be delivered through 2022123, and was then extended with the investment of a further £490,000 of funding enabling a 'Phase 2, of the programme to begin in January 2023. At the beginning of 2024 a final 'Phase 3. of the programme began, with additional funds of £450,000 available for an activity period up to June 2025. By the end of Phase 2 in January 2024, Covid Recovery funds had enabled over 3,050 Sandwell young people to be supported with their emotional wellbeing by 26 projects delivered by 14 charities and community organisations in Sandwell. Additional to the Covid funding, SCVO were also able to secure funding from the Black Country health system to fund local activity aimed at specific groups of young people in need. This extra funding stream was delivered in parallel to the main Emotional Wellbeing programme, to enable local VCS providers delivering this support to benefit from the networks and connectivity of the main programme. stsrting in early summer 2023, £120,000 of health system funding was invested in 5 local organisations offering expert support to young people to meet the following priorities'.- Supporting young black boys in Youth Justice System Support for families in understanding emotional wellbeing and mental health Emotional wellbeing Support for 16-25-year-olds Providing 1-1 trauma support for new arrivalsl unaccompanied asylum-seeking children and young people In total, 136 children and young people and 70 parents benefited from this support. Sandwell VCS Anticipatory Care Grant Programme: Anticipatory Care is proactive healthcare and support, targeted at people of all ages living with frailty, multiple long-term conditions andlor complex needs to help them stay independent and healthy for as long as possible at home, in the place they call home or in their local community. It focuses on providing the support based on what is important to the individual, improving health inequalities and health outcomes for our local population. Anticipatory Care redu$ the risk of long-term health conditions worsening that would result in an individual needing a hospital stay or visit. Page 6
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 Beeen May 2023 and February 2024 SCVO managed a grant programme utilising £130,000 of health system 'Health Inequalities, resources which grant funded local VCS organisations in Sandwell to deliver Anticipatory Care pilot projects that would test new approaches and help to reduce the need for people to use health care services. This programme focused on areas of activity:" Wellness projects - focusing on activities to increase understand of and access to good nutrition, alongside promotion of regular exercise Respite care and caregiver support- supporting local unpaid adult caregivers, who may experience significant stress and burnout, with activities to help them manage their responsibilities and maintain their own health and well-being 6 local providers delivered activities during this year, supporting over 270 residents to improved health outcomes. Sandwell Digital Survey Micro-Grants: Digital Inclusion is a significant challenge for many Sandwell residents, particularly as the move towards online services and information continues to gather pace. In 2023124 SCVO were funded by Sandwell Council to undertake an engagement survey with Sandwell residents to enable the Council and partners to better understand residents, digital needs and the barriers they face in accessing digital services. Subsequently a grant programme was developed and 19 local VCS organisations were funded with 'microgrants' in order to resour completion of digital questionnaires with residents who were digitally inactive. A total of 750 residents completed the suNey and SCVO drew the findings into a report on Sandwell's digital inclusion challenge which included recommendations for how this can be tackled collaboratively across the public and voluntary sectors. Building Community Resilience in Sandwell: During 2023124 SCVO continued to work with national funder the Esmée Fairbairn Foundation to deliver a programme of support for Sandwell's communities. This entailed a range of resident engagement activities delivered through local community anchor organisations, most of which were delivered online due to the Covid-19 pandemic lockdown. This activity worked alongside a devolved grants programme for Sandwell which focused on new ways of building capability and confidence amongst the most vulnerable and marginalised in our local communities and on growing community resilience. Page 7
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 S - Pro'ect Hostin Creative People and Places". The Arts Council's Creative People and Places (CPP) programme aims to help more people to experience and be inspired by the arts, irrespective of where they live or their social. educational or financial circumstances. This funding focuses investment in parts of the country where people's involvement in the arts is significantly below the national average, with the aim of increasing the likelihood of participation. This investment will encourage long-term collaborations between local communities and arts organisations, museums, libraries and other partners such as local authorities and the private sector. It aims to empower them to experiment with new and radically different approaches and to develop inspiring, sustainable arts programmes that will engage audiences in those communities. In May 2014, Black Country Together CIC was successful in securing £2M of Creative People and Places funding to deliver the programme across the areas of Sandwell, Walsall and Wolverhampton. SCVO were asked by Black Country Together CIC to lead this work, and since September 2014 have hosted a team to work across the three boroughs, as well as supporting engagement with local communities, through our core staff, to develop new arts and cultural initiatives in Sandwell. The initial funding was followed by successful bids for a second and then third phase of funding, plus expansion of Creative Black Country activity into Dudley, delivery of which began in November 2019. Following a strategic review and re-focusing of the shape and priorities of the Creative Black Country team in early 2021, Black Country Together CIC were successful in securing National Portfolio Organisation CPP funding in December 2021. This funding will ensure Creative Black Country continues to deliver and develop its community-based activities for a further three years from April 2022. Volunteering Futures Culture Central, in partnership with Birmingham Museums Trust, scvo through it's Creative Black Country programme, Stoke Creates and Open Theatre worked together during this year to deliver a regional and pla-based, volunteering and development programme. This focused on areas of low engagement and with those who experience barriers, prioritising social interaction, purpose, skills, well- being and building social capital to create change. The programme also worked across the region to support volunteers and organisations to make the most of volunteering opportunities, including working with the Birmingham 2022 Commonwealth Games to build on their inclusive volunteering programme. The Volunteering Futures Fund was launched in 2022 and was distributed by Arts Council England. It aimed to break down barriers to volunteering and enable organisations across the arts, culture, sport, civil society, youth and heritage sectors to continue their valuable work within local communities whilst volunteers enjoyed the personal benefits of making a difference. Those benefitting most from the funding included young people and people with disabilities. Colleges, local councils, schools, health and wellbeing organisations were also among the recipients of the Fund. Arts Council England made awards to these organisations in order to respond to demand from a wide range of beneficiaries, such as from those who may be experiencing loneliness or social isolation, to young people in the LGBTQ community, people with learning difficulties and complex needs. Within the Black Country the focus was on the following Increasing the number and range of quality volunteering opportunities in arts and cultural organisations, and making more people aware of them Page 8
s.c.v.o. (A company limited by guarantee Report of the trustees Year ended 31 March 2024 Opening the doors to people who may face barriers to volunteering and making it possible for them to get involved. This included three key groups in the Black Country.. 18-24-year-olds, Dldeaflhearing impaired communities, and those who were isolated Giving Arts and Cultural organisations the knowledge, skills, and resources to manage a quality and engaging volunteer experience now and in the future. Big Local Grace Mary to Lion Farm: The Grace Mary to Lion Farm (GM2LF) Big Local area is within the borough of Sandwell in the West Midlands. It covers 5 separate natural neighbourhoods, crossing the boundary of three council wards and two parliamentary constituencies. Within this area, the'Big Local, lottery fund, in dialogue with local VCS organisations and residents, has committed a £1 million investment in the area. The area's 'Big Plan, reflects the needs and aspirations of local residents in using the funding to bring about lasting change within the community over a 10-year period (which is due to 'spend out, by March 2026). Since 2014115, SCVO has taken on the role of accountable body for the GM2LF partnership as the 'Local Trusted Organisation,, which it continues to perform as the activities within the Big Local Plan are delivered. This role entails liaison with Local Trust (the funding awarding body) on behalf of GM2LF, financial management of funds and support of the Partnership Board. Active Black Country- Commonwealth Active Communities Active Black Country and partners were successful in gaining funding from Sport England's Commonwealth Active Communities Fund (CAC}, using the 2022 Commonwealth Games to act as a catalyst to drive transformational change. The funding assists the Black Country to increase activity levels across the least active, support good mental and physical health and reduce inequalities in activity levels. SCVO continued its partnership working with Active Black Country by hosting (on behalf of Black Country Together CIC} a Community Connector to focus CAC delivery in target wards across Sandwell, and with the (former Commonwealth Games) Aquatics Centre at the heart of activities. Achievements and Performance SCVO produced 50 e-bulletins to keep the VCS informed of local, regional and national policy, events and information of relevance to their development and activities. SCVO ran a number of workshops and training events, including a programme of sessions on aspects of volunteering support through a 'Fours for Good. collaboration with our three local Black Country CVS partners and four 'meet the funder, sessions benefitting 175 participants in total. A range of fa-to-faCe and virtual nelwork meetings brought people together around key issues and themes'.- VCS Children and Young People Forum meetings VCS Health and Social Care Forum meetings Volunteer Co-ordinators Forum Briefing events and workshops focused on a range of topics including 'County Lines, Child Exploitation and Serious Organised Crime, (collaborating with our Sandwell Community Safety Partnership), the 'UK Shared Prosperity Fund, {helping to address worklessness), Page 9
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 an overview and update on the Sandwell Family Hubs, and an introduction to an emerging local insight project the 'Sandwell Heath Determinants Research Collaboration.. In addition to this SCVO.. Supported over 164 groupslorganisations with general development support including fundraising, governance, planning, financial management, neOrkIng and quality standards- Helped secure over £2.6 million worth of external funding for Sandwell voluntary organisations- Delivered the 'Vision 2030, grants programme encouraging local community organisations to deliver activities that offer improved wellbeing and social connections for residents. Activity spanned the themes of mental health support, investment in food pantries, activities to address climate change at a local level, financial support for sports clubs and groups, investment in local community LGBTQ+ groups to improve health outcomes and access to services, and 'welcoming spaces, for those residents who were impacted significantly by the cost of living crisis in autumnl winter 2023. Delivered a number of one-off programmes including the "Anticipatory Care" project focusing on healthy living, and Digital Inclusion microgrants that enables SCVO and partners gain a rich insight into how the digital inclusion challenges in Sandwell might be addressed. Continued delivery of our partnership with the Esmee Fairbairn Foundation focusing on improving community resilience in Sandwell through the 'BOUNCE' community engagement programme and the 'EPIC' community grants initiative. Continued to develop the Emotional Wellbeing Grant Programme to fund support which helps young people manage their emotional and mental health following the Covid pandernic Distributed a total of over £1.1 million locally to the voluntary sector through over 200 grant awards Page10
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 Financial review The financial results of S.C.V.O are detailed in the following pages. It is considered that the finances are sound and well established. The principal funding source is from grants. All expenditure of this income is planned to fulfil the objectives and strategies of the charity. During the year ended 31 March 2024 total resources expended were £1,883,109 (2023.. £1,852,777) and the surplus of income over expenditure was £35,008 (2023.. £35,072) which included depreciation of £656 (2023- £866). Investment powers and policy The trustees having regard to liquidity requirements of the charity and to the reserves policy as described in the trustees report have operated a policy of keeping available funds in an interest- bearing deposit account with CAF, a 95 day notice account with Redwood Bank and high interest accounts with Cambridge and Counties Bank and United Trust Bank. Reserves policy and going concern The Board of Directors have reviewed the Charity's needs for reserves in line with the guidance issued by the Charity Commission. The Board believes that the Charity should hold financial reserves because it is entirely dependent for its income upon short and medium-term grants from a limited number of funding bodies. These grants are inevitably subject to fluctuation and delay. The Charity requires protection against these uncertainties, and the ability to continue operating despite gaps in funding income. An Emergency Operating Reserve" provides a safeguard for the Charity's service commitment. It is the intention of SCVO Board to maintain the long-term sustainability of SCVO by holding sufficient financial reserves to ensure that'.- The organisation can demonstrate resilience during periods of unforeseen difficulty, for example, due to unexpected demands on its funds. Unforeseen day-to-day operational costs such as employing staff to cover long-term sickness absence can be met. Funds are available to maintain staff during a gap belween the end of one funding stream and the beginning of another. Planned commitments that cannot be met by future income alone, for example major asset purchase or match-funding requirements, can be met. Cash flow forthe organisation can be maintained where funding regimes fail to provide cash in advance of expenditure. This policy operates under the assumption that the requirements of SCVO'S Finance Policy are fully adhered to and that a proportion of reserves be maintained in a readily realisable form. The calculation ofthe required level of reserves is an integral part of the organisation's planning, budget and forecast cycle and the reserve figure is recognised as a dynamic function of a set of changing financial commitments. Accordingly, the reseNe level is maintained using the following formula:_ Staffing costs- 6 months salaries plus redundancy costs for staff within the senior management team., 3 months salaries plus redundancy costs for all other staff. Premises and Business Support- 6 months of budgeted overheads of indirect costs (excluding stsffing). Contracted Expenditure contractual commitments. Contingencies- to cover depreciation and renewal of key assets, and operational contingencies such as staff cover, eg for maternity or long-term sickness. full provision to be made for the remaining value of existing Page 11
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 The Board of Directors continue to work hard to ensure the business plan for the organisation drives the organisation forward in terms of fulfilling its aims and objectives. The Board hold the belief that it is vital to meet the outcomes proposed in the business plan and therefore recognises the need for some of the remaining reserves to be used to meet any shortfalls arising from this process. The prudent investment of some of the organisation's reserves in future years will ensure that SCVO is a dynamic and vibrant organisation empowered to support its diverse membership in Sandwell, providing greater capacity for strategic engagement activity that is not currently funded. Plans for future eriods Strategy Statement As a local charity committed to the best deal for Sandwell residents, SCVO works across our voluntary and community sector {VCS) to help charitable organisations develop support that makes people's lives better, offers practical help for those in times of greatest need, and enhances people's prospects for the future. SCVO brings a local VCS membership together and works with our strategic partners and our Sector to create an environment where residents and communities have the confidence, capability and support to respond as local needs emerge. SCVO promotes ways of accessing this support for all, including how organisations can work better together, and champions the potential of our Sector to develop effective home%rown responses to some of Sandwell's local challenges. Strategic Aims 1. A strong and responsive Voluntary and Community Sector Working with VCS providers to develop a sector offer which is as inclusive, effective and environmentally sustsinable as possible 2. Enabling access to support for all Sandwell residents activities which help residents to make the best of life Increasing access to services and 3. Making the most of what Sandwell has Transforming the quality of life and wellbeing of Sandwell communities by supporting them to use their strengths and assets including people, places. skills and knowledge, resources and diversity 4. A Clear vol - Grounding partner engagement and strategic decision-making in everyday reality 5. SCVO Fit for the Future - Building a robust, financially sustainable and stable SCVO structure Governance and Mana ement Governing document S.C.V.O. is a company limited by guarantee governed by its Memorandum and Articles of Association dated 14th July 2009 and is registered as a charity with the Charity Commission. There are currently 470 members, each of whom agrees to contribute £1.00 in the event of the charity winding up. Membership is open to community groups and not-for-profit organisations active within the borough of Sandwell, and individuals who support SCVO'S mission and aims. Page 12
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 Appointment of trustees As set out in the Articles of Association the Chair of the Trustees is elected annually by the Trustees of the charitable organisation following the Annual General Meeting. There are up to 16 Trustees, 10 of whom are elected by the AGM. The existing Trustees have the power to co-opt up to 6 additional trustees to fill vacancies. Co-opted Trustees may serve for a period as determined by the Board up to three years. All Members are circulated with invitations to nominate trustees prior to the AGM advising them of the retiring Trustees and requesting nominations for the AGM. Vvhen considering co-opting trustees, the Board has regard to the requirement for any specialist skills needed. Trustee induction and training New trustees are briefed on their legal obligations under charity and company law and the Charity Commission guidance on public benefit, and are informed of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and the recent financial performance ofthe charity. During the induction they meet key employees and other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Organisation The Board of Trustees administers the Charity. The Board meetings are held bi-monthly and there are sub-committees which meet either bi-monthly or as and when required to cover governance matters in greater detail. A Chief Executive Officer is appointed by the Trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the Trustees, for operational matters including finance, employment and other related activities. Related parties and co-operation with other organisations None of our trustees receive remuneration or other benefits from their work with the charity. Any connection between a trustee or senior manager ofthe charity with a client or supplier must be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a related party. The Charity has a close relationship with sub-regional and regional CVSS through joint collaboration estsblishing strategies and long term aims for the benefit ofthe voluntary and community sectors within the Borough. Funding is provided by various sources for the capacity building of the VCS and to aid sector sustainability- SCVO is affiliated to the following.. National Association for Voluntary and Community Action (NAVCA), the National Council for Voluntary Organisations (NCVO) and the Association of Chief Executives of Voluntary Organisations (ACEVO). On 31st January 2013 SCVO became one of four members managing Black Country Together CIC, an associated company which is joint-owned with Dudley Council for Voluntary Services, One Walsall and Wolverhampton Voluntary and Community Action. Black Country Together CIC is a company established to enable the Voluntary and Community Sector in the sub-region to access funding opportunities across borough boundaries that might otherwise be out of reach for them. Pay policy for senior staff The board of directors, who are the Charity's trustees, and the senior management team together comprise the key management personnel of the charity in charge of directing and operating the Page 13
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 organisation on a day to day basis. No director received remuneration in the year and details of directors, expenses and related party transactions are disclosed in note 17 to the accounts. Risk management The trustees have a risk management policy which comprises.. periodic review of the principal risks and uncertainties that the charity faces. the establishment of systems and procedures to mitigate those risks identified in the review., and the implementation of procedures designed to mitigate or manage any potential impact on the charity should those risks materialise. Internal control risk is the risk of financial mismanagement and possible fraudulent activity. These risks are minimised in SCVO with the operation of robust financial controls, policies and procedures to safeguard the charity's assets and this is supplemented with an effective credit control system to preserve cash flow. The major external financial risk to SCVO continues to be financial sustainability particularly in the prevailing economic climate. A key element in the management of short-term funding risk in the charity is a reviewed Reserves Policy with a designated operating reserve in SCVO. Continued development of the Strategic Plan allows for the diversification of funding and activities. Banking arrangements with Lloyds Bank Plc, CAF Bank and a Nationwide account continue to be reviewed to ensure the safe management of funds and levels of service. There is a 5-year fixed rate bond account with Cambridge and Counties Bank. Hard core funds are deposited in a CAF Gold Bank Account, United Trust Bank 180 Day Account, Redwood Bank 95 Day Account and in a 30 Day Platinum Account. Attention has also been focused on non-financial risks in terms of adopting procedures to ensure legislative compliance with health and safety of staff, clients and visitors, employment law and equal opportunities. In common with other organisations SCVO has a high level of dependency on the specialism of key staff and there is a risk of replacing those key members should they decide to leave or through illness. Skills development in terms of shared knowledge throughout the workforce and SCVO'S links with external consultants mitigate some degree of this risk. Trustees. res onsibilities in relation to the financial statements The charity trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP 2019 {FRS 102)., make judgements and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. Page 14
s.c.v.o. (A company limited by guarantee) Report of the trustees Year ended 31 March 2024 The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity ofthe corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. By order of the board of trustees Laura Nott Chair 19 September 2024 Page 15
Independent Auditor's Report to the Members of s.c.v.o. (A Company Limited by Guarantee) Opinion We have audited the financial statements of S.C.V.O. (A Company Limited by Guarantee) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended", have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pra¢lits-, and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Qur responsibilities under those standards are further described in the Auditorfs 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 e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the trustees annual report. other than the financial statement5 and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Page 16
Independent Auditor's Report to the Members of s.c.v.o. (A Company Limited by Guarantee) (continued) Other inforniation (continued) 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 course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we Conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the ¢ourse of the audit: the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements., and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the ¢ourse of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or the financial statements are not in agreement with the a¢counting records and retums., or certain disclosures of trustees, remuneration specified by law are not made.. or we have not received all the information and explanations we require for our audit. the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Irustees, report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the Trustees. Responsibilities statement {set out on pages 14 and 151. the trustees (who are also the directors of the charitable Gompany 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 ne¢essary 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 ¢onGern, disclosing, as applicable, matters related to going Concern and using the going oncern basis of accounting unless the trustees either intend to liquidate the ¢haritable company or to cease operations, or have no realistic alternative but to do so. Page 17
Independent Auditor's Report to the Members of s.c.v.o. {A Company Limited by Guarantee) (continued) Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.. We reviewed the Company's control and risk management procedures and planned our work based on our assessment of those controls and procedures., This review included an assessment of the risk of material misstatement due to errors, fraud and management override of controls for all material areas in the financial statements., We made enquiries of management and the company's lawyers regarding any actual or potential litigation andlor claims., Financial statements disclosures were reviewed and checked for compliance with applicable laws; Detailed testing was conducted on balances and transactions including unusual items and those of individual significance to the financial statements- Data analytics were used in order to identify unusual or significant trends., Communications with management and those charged with governance regarding relevant matters was undertaken throughout the audit and on completion. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance. The risk 15 also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frG.org.uklauditorsresponsibilites. This description forms part of our auditols report. Page 18
Independent Auditor's Report to the Members of s.c.v.o. (A Company Limited by Guarantee) (continued) 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 ofthe Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. David W Farnsworth FCA (Senior Statutory Auditor) For and on behalf of Feltons, Statutory Auditor 8 Sovereign Court 8 Graham Street Birmingham B1 3JR 7 October 2024 Page 19
s.c.v.o. (A Company Limited by Guarantee) Company number . 03570517 Charity number . 1071514 Statement of financial activities (including income and expenditure account) for the year ended 31 March 2024 Unrestricted Designated Restricted funds fund funds Totsl 2024 Total 2023 Notes Income Incon7e from chan'table activities.. Income from charitable activities Income from trading activities.. Commercial operations Rental income and room hire 320.051 1,558,200 1.878,251 1,873,019 1,575 499 499 Donations Investment income 39,367 39,367 12,655 Total income 359,917 1,558,200 1.918.117 1,887.249 Expenditure Chan-table activities.. Operational and support costs 275.430 1,607,679 1,883,109 1.852,177 Total expenditure 275.430 1.607,679 1,883,109 1,852,177 Net incomel(expenditure) before transfers 84,487 (49.479) 35,008 35.072 Gross transfers between funds 12 {66,417) 16.938 49,479 Net movement in funds 18.070 16,938 35,008 35,072 Reconciliation of funds Total funds brought fotward 12 384,992 75.699 460,691 425.619 Total funds carried forward 403,062 92,637 495,699 460.691 All ofthe charity's activities derive from continuing operations during the above th financial periods. Page 20
s.c.v.o. {A Company Limited by Guarantee) Company number . 03570517 Charity number ". 1071514 Balance sheet as at 31 March 2024 2024 2023 Notes Fixed assets Tangible assets 591 1,247 Current assets Debtors Cash at bank and in hand 110.222 1,802,719 1,912,941 264,951 1.738,363 2,003,314 Creditors: amounts falling due within one year 10 1,417,833 1.543.870 Net current assets 495.108 459,444 Net assets 495.699 460.691 Funds of the charity . Restricted funds General fund 12 Unrestricted funds General fund Designated funds 12 12 403.062 92,637 384.992 75.699 495.699 460,691 Total funds 495.699 460,691 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The notes on pages 23 to 31 form part of these accounts. The financial statements were approved and authorised for issue by the Trustees on 19 September 2024 and signed on their behalf by Laura Nott (Chair) Page 21
s.c.v.o. (A Company Limited by Guarantee) Statement of cash flows for the year ended 31 March 2024 Notes 2024 2023 Cash flow from operating activities 15 24,989 {242,477) Cash flow from investing activities Interest received 39,367 12,655 Net cash flow from investing activities 39,367 12,655 Net increase in cash and cash equivalents 64,356 (229,822) Cash and cash equivalents at 1 April 2023 1,738,363 1,968,185 Cash and cash equivalents at 31 March 2024 1.802.719 1,738,363 Page 22
s.c.v.o. (A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 1. A¢¢ounting policies a) Basis of preparation S.C.V.O. is a Charitable company, limited by guarantee, registered in England and Wales. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £1 per member of the charity. The company's registered number and registered office can be found on Ihe reference and administrative details page. The charity constitutes a publi¢ benefit entity as defined by FRS 102. The financral statements have been prepared in accordan wlh Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to ¢harities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102), the Charllies Act 2011, the Companies Act 2006 and UK Generally ACpIed Accounting Practice. The financial statements are prepared on a going conr basis under the historical cost convention. The financial slalemenls are presented in sterling which is the functional currency of the Charity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless othetwise staled. b) Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The tnjstees have considered the level of funds held and the expected level of income and expenditure for a period of 72 months from the dale of authorising these financial stalemenls. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concem. cl Income recognition All incorning reSoUrS are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met. the amount can be measured reliably and it is probable that the income will be received. Grants receivable Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advan of entitlement of receipt it5 recognition is deferred and included in creditors as deferred income. Where enlillement occurs before in¢orne is reIved. the income is accrued. Income from grants are recognised at fair value when the Charity has entitlement after any performan condition have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Donations Donations are recognised on a re1vable basis where there is rtaintY of CeIpt and the amount Can be reliably measured. If there are conditions attached lo the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fvlfilled. Donated servlces and gifts in kind Donated facilities and donated professional services are recognised in income al their fair value when their economic benefit is probable, il can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift lo the charity. For example the amount the charity would be willing lo pay in the open market for such facilities and servitss. A corresponding amount is recognised in expendituft. Page 23
s.c.v.o. (A Company Limited by Guarantee) Notes to the financial ststements for the year ended 31 March 2024 (continued) 1. Accounting policies Icontlnuedl cl Income recognition {continuedl Gifts in kind Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset. Interest receivable Interest on funds held on deposit is included when receivable and Ihe amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the bank. Other Income Other income. including the hire of facilities, is recognised in the period il is re1vable and to the extent the goods have been provided or on completion of the servi. dl Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments lo third parties. it is probable that the selllement will be required and the amount of the obligation can be measured reliably. It is calegorised under the following headings". Costs of generating funds These are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities These are costs incurred in activities undertaken to further the purposes of the charity and their associated support costs. Governance costs These include the costs attributable to the trust's compliance with conslilutional and statutory requirements. including independent examination, strategic management and trustees. meetings and reimbursed expenses. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. e) Fund accountin9 Unrestricted funds are available lo spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have deGided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the trust's work or for specific artistic projects being undertaken by the trust. fl Allocation of support co$t$ Support costs are those that assist the work of the charity but do r¢ot directly represent charitable activities and include office costs. governance costs and administrative payroll costs. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 4. Page 24
s.c.v.o. (A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 (continued} 1. Accountlng policies (continued) gl Tangible flxed assets Tangible fixed assets are stated al cost lor deemed costl or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to makin9 the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off Ihe cost. less estimated residual value, of each asset on a systematic basis over its expected useful life as follows.. Fixtures and fillings 250/0 per annum on a slraighl line basis Office equipment 25 /c per annum on a straight line basis h) Debtors Operational and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 11 Cash at bank and in hand Cash al bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. j) Llabilities Liabilities are CogniSed when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to sellle the debt or the amount it has received as adVand payments for the goods or ServIS il must provide. k) Operatin9 leases Rentals payable under operating leases are charged to the SOFA on a straight line basis over the period of the lease. l) Taxation The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered lo pass Ihe tests set out in Paragraph 1 Schedule 6 Finan Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. m) Penslon benefits The charity operates a defined contribution plan for the benefit of ils employees. Contributions are expensed as they become payable. n) Crltlcal accountlng e$limates and a85 of judgement Estimates and judgements are continually evaluated and are based on historical experien and other factors. including expectations of fvture events that a believed to be reasonable under the CircumstanS. There are no critical accounting eslimales or areas ofjudgemenl. Page 25
s.c.v.o. (A Company Limited by Guarantee) Notes to the financlal statements forthe year ended 31 March 2024 (continued) 2. Investment income Unrestricted Restricted funds funds Total 2024 Total 2023 Deposit account interest 39,367 39.367 12,655 39.367 39,367 12.655 3. Expenditure on charitable activities Strategic representation Development Commercial services activities Total 2024 Total 2023 Operational and support costs Staff costs Project costs Support costs (see note 41 Governance costs (see note 4} 343,431 55.321 1,358,464 46.400 31.378 430,130 1.358,464 87,225 7.290 419,911 1,345.984 78.679 7,603 37.478 7,290 3,347 388.199 1,460.185 34.725 1,883,109 1.852,177 Totsl expenditure on charitable activities was £1,883,109 12023 - £1,852,177) of which £275,430 {2023 £78.7061 was unrestricted and £1,607,67912023- £1.773,471) was restricted. 4. Analysis of support and governance costs General support Governance function Total 2024 Total 2023 Training and reeruilment Insurance General office costs Audilorfs remuneration Accountancy services Legal and other professional Bank charges Other support costs 1.491 2,746 57,346 1,491 2,746 57.346 4.920 12.888 8,527 102 6.495 983 2,705 55,216 4.950 12.832 3,927 114 5.555 4.920 12.888 8,527 102 4.125 2,370 87,225 7.290 94,515 86.282 The allocation of general support costs is based upon Slralegic. Development and Commercial income as a percentage of lolal income received. Governano wsts are specific ¢osls attributable lo the Charity. Page 26
s.c.v.o. (A Company Limlted by Guarantee) Notes to the financlal statements for the year ended 31 March 2024 (continued) 5. Net incomellexpenditure) for the year Nel income I lexpendilurel is slated after charging.. Total 2024 Total 2023 Depreciation of tangible fixed assets Operating lease rentals Premises Office equipment AudiloVs remuneration 656 866 28,000 28,000 579 4.950 4.920 6. Trustees and key management personnel remuneration and expenses The trustees neither received nor waived any remuneration during the year {2023 - £nill neither were they reimbursed expenses during the year12023- £nill. The Trust considers ils key management personnel comprise Chief Executive Offitsr, Deputy Chief Executive Offieer, Director of Operations & Development and Creative Director. The lolal amount of employee benefits received by key management personnel was £207.07412023 - £195.8741. 7. Analysis of stsff costs and numbers staff costs . Total 2024 Total 2023 Wages and salaries Social security costs Pension costs 375.868 32,135 22.127 430.130 367.130 32,424 20,357 419,911 No employees received total employee benefits of more than £60,000. Staff numbers . The average monthly number of employees and full time equivalents during the year was as follows.. 2024 Number 2024 FTE 2023 Number 2023 FTE Charitable activities Management 13 10 14 12 17 14 18 16 Page 27
s.c.v.o. (A Company Limited by Guarantee) Notes to the flnancial statements for the year ended 31 March 2024 (contlnued) 8. Tangible fixed assets Fixtures & fittings Office equipment Total Cost Al 1 April 2023 Additions 14.698 74.824 89,522 At 1 April 2023 and 31 March 2024 14.698 74.824 89.522 Depreciation At 1 April 2023 Charge for the year 14.698 73.577 656 88.275 656 At 31 March 2024 14.698 74,233 88.937 Net book values At 31 March 2024 591 591 Al 31 March 2023 1,247 1,247 9. Debtors Total 2024 Total 2023 Debtors from operations Prepayments and accrued income Other debtors 63.972 11.423 34,827 110,222 201.082 9,532 54,337 264,951 10. Creditors - amounts falllng due within one year Total 2024 Total 2023 Creditors from operations Accruals and deferred income GM2LF Big Local Other creditors 44.495 1.339.630 31.866 1,842 1.417,833 29.458 1.486.135 27.120 1.157 1,543,870 The amoLTnt of £31,86612023.. £27,120) is for funds held on behalf of GM2LF Big Local. The Grats Mary lo Lion Farm {GM2LF) Big Local is one of 150 communily-led groups throughout England and Wales who have been granted £1million lo be spent over 10 years. Big Local is being run by Local Trust, which is working with over £200m from the Big Lottery Fund and a range of partners, providing expert advice and support for residents. SCVO fulfils the role of'LTO' ILo¢ally Trusted Organisalion) for the GM2LF Big Local Partnership. The amount held on behalf of GM2LF al 31 March 2024 is shown as part of the reslrided fund in note 13. Page 28
s.c.v.o. IA Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 (continued) 10. Creditors - amounts falling due within one year (continued) Total 2024 Total 2023 Deferred income Deferred income al 1 April 2023 Resources deferred in the year Arnounls released from previous years Deferred income al 31 March 2024 1.480,398 763,254 915.419 1,328,233 1,679.975 845,454 1.045,031 1,480.398 At the balance sheet dale the eharily was holding funds received in advance for serVIS due to be delivered after the year end. 11. Commitments undgr operating leases At 31 March 2024 the eharily was commilled to making the followng payments under non- CanlIable operating leases Land and buildings Total Total 2024 2023 Other Total 2024 Total 2023 Within one year 28.000 28,000 579 28,000 28.000 579 12. Analysis of funds Balance at 1 April 2023 Balanee at 31 March 2024 Incoming resources Resources expended Transfers Restricted funds General fund 1.558.200 1.607,679 49.479 Unrestrlcted funds General fund Designated fund 384.992 75,699 460,691 359.917 1275,430} 166.4171 16,938 49,479 403,062 92.637 495,699 359.917 275.430 Total funds 460.691 1.918,117 1.883,109 495.699 Page 29
s.c.v.o. IA Company Limited by Guarantee) Notes to the financial ststements for the year ended 31 March 2024 (continued) 12. Analysis of funds Icontinugd) Name ot fund Description. nature and purpose of fund Restricted general fund Money given to the charity where the donor requiies that 8 grant or donation be spent for a specific project. Unrestricted general fund The free reserves of the charity which are not designated for particular purposes. Included within the this fund is an amount of £255.000 that is allocated to be used for future operating reserves of the charity. Deslgnated fund Unrestricted income for which the trustees had fomierly designated to be used t¢)wards the operating costs of the charity in 2024125. 13. Analysis of net assets between funds Fund balances al 31 March 2024 are represented by.. Unrestricted Restricted funds funds Total funds Tangible fixed assets Current assets Current liabilities Total net assets 591 1.881.075 1,385,967 495,699 591 1.912,941 1.417.833 495,699 31,866 31.866 14. Capltal commitments There were no capital commitments al 31 March 2024 nor al 31 March 2023. 15. Reconciliation of net incomel(expenditure) to net cash flow trom operatlng activitigs Total 2024 Total 2023 Net income for the year Depreeialion Interest receivable Decreasel{increasel in debtors {Decreasellincrease in creditors 35,008 656 139.3671 154,729 1126,0371 35,072 866 112,655) 50.618 1316.3781 Net cash flow from operating activities 24.989 242.477 16. Pension commitments The company operates a defined contribution pension scheme. The pension cost charge for the year repsents contributions payable by the company lo the scheme and amounted to £22.12712023 - £20.3571. There were no outstanding contributions al the end of the financial year {2023- £nill. Page 30
s.c.v.o. (A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 (continued) 17. Related party transactions The following related party transactions look place during the period Black Country Together CIC A community interest company in which the charity owns 25¥0 by way of guarantee 2024 2023 SeNices recharged to related party during the year Amount due from related party at year end 66.700 46,500 161,233 50.481 Krunch UK Jon Grant (trustee} is an employee ICEOI of Krunch UK and Laura Noll (Chair) is also a trustee 2024 2023 Grants paid to related paty during the year 77,667 51.OS8 Afrlcan Speaking French Community Support Jacques Malensi-Kubanza {Irusleel is a Iruslee Ichairmanl of African Speaking French Community Support 2024 2023 Grants paid lo related paty during the year 21.500 5.000 Ideal for All Limited Khalija Patel Itruslee) is an employee ICEOI of Ideal for Al Limited 2024 2023 Grants paid to related party during the year 30.874 5.266 Smethwick Church Action Network Amy Allan (trusteel is an employee {Projeel Development Manager) of Smethwick Church Action Network 2024 2023 Grants paid to ielaled party during the year 650 35.559 Black Country YMCA 2024 2023 Luke Tyler ltrusleel is an employee (Head of Health and Wellbeing SeNicesl of Black Country YMCA Grants paid to related party during the year 3,000 Sandwell Young Carers 2024 2023 Geoff Foster (Iruslee) 1$ a trustee of Sandwell Young Carers Grants paid lo related party during the year 43,614 Page 31