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2024-03-31-accounts

Charity Registration No. 1072595

Company Registration No. 03576786 (England and Wales)

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY

TRADING AS REACHING PEOPLE

(A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Miriam McKee - Treasurer (Independent) Mandy Wardle-McLeish (Independent) Eric Waweru (Member organisation) Jennifer Hand (Independent) Chair Elizabeth Chahal (Member organisation) Tracey Waterfield (Independent) (Appointed 23 August 2024) Kiran Kala (Member organisation) (Appointed 23 August 2024) Secretary Miriam McKee - Treasurer (Independent) Senior Management Sarah Richards Joint Chief Executive/Chief Finance Officer Sangeeta Patel Joint Chief Executive Charity number 1072595 Company number 03576786 Registered office First Floor 42 Tower Street Leicester LE1 6WT Independent examiner Thomas Mayfield BA FCA Mayfield & Co 2 Merus Court Meridian Business Park Leicester LE19 1RJ Bankers CAF Bank 25 Kings Hill Avenue West Mailing Kent ME19 4JQ

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE CONTENTS

Page
Chair Statement 1
Trustees' report 2 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10 - 11
Statement of cash flows 12
Notes to the financial statements 13 - 27

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE CHAIR STATEMENT

FOR THE YEAR ENDED 31 MARCH 2024

Despite a challenging environment for the sector as a whole, I am delighted that Reaching People has been able to be flexible, adapt and change to ensure we continue to lead a fantastic range of projects across the City and County.

We are, like many voluntary sector organisations, finding funding more challenging to secure. In May 2023 we saw the closure of the Building Better Opportunities Fund and our Moneywise Plus project with the final archiving of the project evidence. We supported 1,790 people, 751 of whom reached their employment and education goals.

We began the new year with an office move to share the premises at Leicestershire Cares. We also confirmed our joint CEOs, Sangeeta Patel and Sarah Richards, in post. Our leadership programme has had considerable impact across the locality with a range of courses meeting training needs of leaders and aspiring leaders across the sector.

I am so pleased to see new project work that builds on our previous experience and brings together the skills within the sector to make a difference to the lives of people in most need. We all know from experience how poverty and digital exclusion impact on mental health and employability, to have a suite of projects that contribute to addressing these needs means that Reaching People has a range of potential solutions to create lasting change for individuals including Emergency Food Coordination, Foodbank Plus, Refurb IT, Health Plus, Moneywise Living and the delivery of 24 environmental projects by a range of community organisations.

As ever, thank you to our member organisations for working together with us and for your commitment to partnership, leadership and change for the sector.

We all extend our thanks and appreciation to Mandy Wardle-McLeish who stepped down as Chair during the year. Thank you also for the support of our board of trustees who continue to set the strategic direction for Reaching People. Finally, huge thanks to all our staff who work tirelessly to ensure we continue to be at the fore-front of the community and voluntary sector locally.

Jenny Hand Chair

Date: 16 October 2024

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT)

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2016).

Objectives and activities

Our Aims

We aim to:

Our Values and Approach

Our values underpin and guide all we do and our relationships with stakeholders:

Reaching People believes that through cooperation, collaboration and partnership we can create a sector that is ‘greater than the sum of its parts’, maximising its effectiveness and impact by:

Objectives

We strive to:

The trustees have given due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Review of the period

During the year members felt the impact of reduced funding from statutory services. The current funding environment has become increasingly competitive overall as well as more short term in nature.

During the year Reaching People employed 11 staff directly, many of whom are part time. Our full-time equivalent staffing during the year was 7. Our total income for the current trading year is £971,945.

Activity and projects

Activities and projects are described under each of our goals:

1. To, encourage, initiate, facilitate, coordinate and manage collaboration and partnership working.

We won our partnership bid to the UK Shared Prosperity Fund. The Moneywise Living partnership project started in October and includes three members all drawing on their previous experience of Moneywise Plus and/or Building Better Opportunities projects. Our Refurb IT project continues to effectively connect the business sector to the VCSE to fight digital exclusion and take climate action by refurbishing business’ unwanted personal devices and getting them to those that need them, together with the skills and data they need. Over the year we saved over 50 devices from landfill. The Health Plus project has performed well and has strengthened our partnership with the Integrated Care Board as well as the many health care professionals and community groups and organisations.

Through our leadership programme, CEO forums and Trustees networks have grown. Something as simple as a WhatsApp group created by the CIC course participants has proved invaluable to them for sharing information, news, funding opportunities and collaboration.

We have effectively coordinated and helped to facilitate the work of 22 food hubs across Leicester. In the last year the food hubs supported 61,550 households across the city. Together they took a total of 99,360 volunteer hours to run, estimated to be a cost of £39,700 per week to operate. Over the year we strengthened the partnership through training and support, fundraising, food supply and access to a wealth of advice services to allow all the communities to access more resources and have a bigger voice in the wider goal of poverty alleviation.

This year saw the impact of a strong strategic collaboration between Reaching People and the Leicestershire and Rutland Community Foundation. The strengths and skills of both local strategic infrastructure organisations created environmental opportunities for local groups and a local environmental legacy of ideas and approaches. Through the Reaching People Environment Fund, small grants of up to £5,000 were awarded to 24 primarily small, locally run community groups across Leicester and Leicestershire. The funding enabled a number of projects to develop local collaboration and partnerships e.g. Ekojoe collected food waste from local restaurants and sourced manure from a local social enterprise.

2. To build the capacity and capability of individuals, communities and VSCE organisations.

The leadership programme built the capacity of individuals and organisations through a diverse programme of courses, workshops, forums etc. tailored to the needs of Aspiring Leaders, Senior Leadership, Trustees, Community Connectors and CIC leaders. The programme also responded to needs as they arose from the programme, and tried and tested innovative workshops for example, on Regenerative Leadership and Trauma informed management. In all, 333 individuals, from 120 organisations, were supported to build their capacity and capability and ultimately that of their organisations and the communities they serve.

We have supported community food projects to move away from just supplying food and are developing their communities by using food as an introduction and as a tool to create sustainable ideas to tackle poverty locally through empowerment and income generation. The establishment of and integration of two much needed food hubs in deprived areas of the city are examples of this change.

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

In May 23, we were chosen as one of 2 locations in the country, to take part in national research by Independent Age and National Academy of Social Prescribing (NASP) to understand how social prescribing can help to meet the needs of people over 65, who are the most marginalised, experiencing financial hardship and socially isolated with a view to learning from each location and developing policy and practice. In January 2024 we were asked to implement some of our recommendations. In the first 3 months alone, we had connected with, and together, over 17 organisations in each of the two areas and connected with over 300 older people. We identified social prescribing needs such as financial advice, digital skill, general well–being etc and ensured these groups and individuals were adequately supported.

The Refurb IT project builds the capacity of our members, through device and data donation, to support individuals and has built the digital skills and capability of 30 individuals. Through our Health Plus project, we supported 436 individuals to learn how to access health services including how to use the NHS app, the GP appointment systems and finding health information online. 76 health professionals, community staff and volunteers were also trained as trainers in order for them to better support and build the skills of patients.

We await the final evaluation report of the Environment Fund, but it is evident that the key benefits of the fund and activities include the building of skills and resilience and an improvement in mental and physical wellbeing for individuals and wider communities. Some projects also reported improvements made to their spaces making them more inviting and productive e.g. through renovations, benches, greenhouses etc.

3. To support the VSCE sector to have a voice and influence wider change.

Reaching People has continued to play a significant role in the food hub partnership to feed information gathered in the communities about current cost of living crisis issues and related poverty related issues of energy, debt, employment, mental health etc. into the City Council for policy decision making. In particular, we assisted De Montfort University’s research and mapping of in-work poverty and types of debt across Leicester, by carrying out surveys through the food hub network.

We were nominated to be part of the ‘VSCE Collaboration’ effort with representatives across Leicester, Leicestershire and Rutland. The collaboration has brought together members and non-members to look especially at how we influence, lobby, be heard as a sector. We continue to be active members of the VCSE Alliance and Public Health Community and Well-Being board.

The Environment Fund projects were key in enabling voices to be heard and influencing change. This was evident in the community engagement in all the projects. Soft Touch took a strategic approach, they listened through ‘Open Ears’ (young peoples’ voice group), heard their concern about their and their peers disconnection from environment issues and used the funds to move the charity toward a more environment focus and ethos.

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Financial review

Review of the finances and reserves

The results for the year ended 31 March 2024 are shown in the Statement of Financial Activities on page 9 and the position of the Charity as at 31 March 2024 is shown on the Balance Sheet on page 10.

There has been an overall reduction in income as the Moneywise Plus project came to an end, the Environmental income was recognised in the previous year and the Kickstart project finished in the previous year, however several new projects started during the year including Social Prescribing, Moneywise Living and the Garment and Textile Workers Trust project. Our Health+ project benefitted from new funding from the NHS ICB Better Care Fund. Trustees are confident that the financial model in place has enabled Reaching People to reach the people in most need.

The staff team remains relatively small and continues to use specialist external support where opportunities arise and need a quick turn-around, for example report writing. Sub-contracted arrangements with external consultants and with partner members are used for functions such as leadership training, report writing, proof reading, project delivery and facilitation. Staff are also directly employed to deliver specific projects giving Reaching People direct lines of accountability to the funders and ensuring that Reaching People maintains the appropriate quality assurance and risk management for projects delivered by member organisations on behalf of Reaching People.

Previously, designated funds were identified for use in the development of partnership opportunities including bid writing, management, and infrastructure development. Only £370 was utilised from this fund as some of the bids written during the previous year were successful and new bids written during the year were managed within the income generated.

Reaching People is a real living wage employer and the pension contribution for staff is set at 5%. For this financial year several projects continue to be delivered through membership organisations by way of Service Level Agreements.

Reserves Policy

The Trustees review the reserves policy not less than annually to ensure that all relevant risk areas are included in accordance with guidance issued by the Charity Commission. Thus, the relevant risks included are the impact of a loss of funding, and the potential impact of restructuring costs and liabilities required to downsize the organisation in an orderly manner, if an income reduction was anticipated.

The trustees’ current policy is to maintain reserves to meet its objectives:

This policy requires that free and unrestricted reserves are maintained at a level that would ensure Reaching People’s core activities could be maintained in the short to medium term in the event of a substantial drop in funding. The trustees consider that reserves at this level will ensure that they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This cover will help fund running costs and provide adequate working capital.

The board considers carefully the Charity’s commitments, taking into account their inherent risks and the activities generally. It monitors, on an on-going basis, the fund balances available relative to its financial plans and to the meeting of its objectives in both the medium and longer term.

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Reserves Cover

The total reserves funds of the Charity at 31 March 2024 are £163,532. This is made up of:

Risk management

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks.

The board regularly reviews the risks that the organisation faces and identifies the actions that need to be carried out over the year to either eliminate the risk, control and reduce the risk, or accept the risk. The trustees are satisfied that policies and procedures covering all the main areas of risk are in place and applied and a new process this year identifying Trustee leads for specific policies has been adopted.

Future Strategy and Plans

This year, the strategic plan was reviewed and approved by the board. Trustees are confident that the current strategic plan, informed by member organisations engagement, will be effective in bringing organisations together and delivering services to more people with higher levels of need. Our approach to a small core staffing resource and diversification of funding through a range of funding bids is also key to future sustainability for Reaching People and the support we provide to our member organisations.

We will continue to focus on ensuring our key projects are delivered effectively and efficiently with lasting results. We will also continue to learn from our own and others practice with the aim of extending our reach and influence over the coming year.

Structure, governance and management Constitution

Leicestershire Voluntary Sector Resource Agency (LVSRA) is a registered charity and is incorporated as a company limited by guarantee, registered in England. The charity trades as Reaching People following its merger with Reaching People in June 2013. LVSRA is governed by its Memorandum and Articles of Association which are on public file at Companies House and available at the registered office. The extent of each voting member's liability in the event of a winding up is limited to £10.

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

Miriam McKee - Treasurer (Independent) Mandy Wardle-McLeish (Independent) Tracey Beighton (Independent) (Resigned 4 January 2024) Eric Waweru (Member organisation) Jennifer Hand (Independent) Chair Elizabeth Chahal (Member organisation) Tracey Waterfield (Independent) (Appointed 23 August 2024) Kiran Kala (Member organisation) (Appointed 23 August 2024)

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Method of appointment or election of trustees

Trustees are recruited as independent individuals and also from Voluntary and Community organisations operating in Leicester, Leicestershire and Rutland who are members of Reaching People. Nominations are received through members of LVSRA/Reaching People and trustees are elected at the Annual General Meeting.

No trustee received any remuneration for services as a member of the Board of trustees or had any beneficial interest in any contract with the charity during the year. Travel or other expenses incurred in discharge of the trustees’ duty are made available.

Organisational structure and decision making

The Board is responsible for all decisions by LVSRA. Following a year on secondment from Vista, Ruth Rigby was appointed as CEO in April 2022 and retired in July 2023. Trustees, staff and members wish her well in her retirement and thank her very much for her dedicated leadership and action on behalf of Reaching People. Sarah Richards and Sangeeta Patel were appointed Joint CEO from May 2023 on an interim basis and permanently from April 2024. Reaching People is also supported with a part time position of Finance and Senior Office Administrator.

The trustees' report was approved by the Board of Trustees.

Jennifer Hand (Independent) Chair Trustee

16 October 2024

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY

I report to the trustees on my examination of the financial statements of Leicestershire Voluntary Sector Resource Agency (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Thomas Mayfield BA FCA

Mayfield & Co 2 Merus Court Meridian Business Park Leicester LE19 1RJ

16-10-2024 Dated: .........................

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Unrestricted
funds
funds
general
designated
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
3
-
-
Investments
4
4,641
-
Other income
5
12,776
-
Total income
17,417
-
Expenditure on:
Charitable activities
6
17,648
-
Total expenditure
17,648
-
Net income/(expenditure)
(231)
-
Transfers between funds
231
(370)
Net movement in funds
8
-
(370)
Reconciliation of funds:
Fund balances at 1 April 2023
20,000
142,780
Fund balances at 31 March 2024
20,000
142,410		 Restricted
funds
2024
£
954,218
-
310
954,528
965,687
965,687
(11,159)
139
(11,020)
12,142
1,122		 Total
Unrestricted
Unrestricted
funds
funds
general
designated
2024
2023
2023
£
£
£
954,218
-
-
4,641
1,435
-
13,086
34,268
-
971,945
35,703
-
983,335
12,754
-
983,335
12,754
-
(11,390)
22,949
-
-
(22,949)
20,249
(11,390)
-
20,249
174,922
20,000
122,531
163,532
20,000
142,780		 Restricted
funds
2023
£
1,340,013
-
100
1,340,113
1,335,993
1,335,993
4,120
2,700
6,820
5,322
12,142		 Total
2023
£
1,340,013
1,435
34,368
1,375,816
1,348,747
1,348,747
27,069
-
27,069
147,853
174,922

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE BALANCE SHEET

AS AT 31 MARCH 2024

2024
Notes
£
Fixed assets
Tangible assets
12
Current assets
Debtors
13
171,023
Cash at bank and in hand
196,106
367,129
Creditors: amounts falling due within one year
14
(204,219)
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the charity
Restricted income funds
16
Unrestricted funds - general
Unrestricted funds - designated
17		 2023
£
£
622
89,364
424,119
513,483
(339,607)
162,910
163,532
163,532
1,122
20,000
142,410
163,532		 £
1,046
173,876
174,922
174,922
12,142
20,000
142,780
174,922

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts under the requirements of the Companies Act 2006.

The trustees acknowledges their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2024

The financial statements were approved by the trustees on 16 October 2024

Miriam McKee - Treasurer (Independent)

Trustee

Company registration number 03576786 (England and Wales)

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash absorbed by operations
22
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash generated from investing activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
£
(232,654)
-
4,641
4,641
-
(228,013)
424,119
196,106		 2023
£
(1,285)
1,435		 £
(50,580)
150
-
(50,430)
474,549
424,119

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Leicestershire Voluntary Sector Resource Agency is a private company limited by guarantee incorporated in England and Wales. The registered office is First Floor, 42 Tower Street, Leicester, LE1 6WT.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Incoming resources made available for specific purposes as declared by the donor have been treated as restricted funds. Expenditure for those purposes is charged to the fund together with a fair allocation of overhead and support costs.

Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charitable company without further specified purpose and are available as general funds.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Support costs are those costs incurred directly in support of expenditure and the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance, with constitutional and statutory requirements

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers 3 Years straight line

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measures at their settlement value with the exception of bank loans, which are subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

3 Donations and legacies

Donations and gifts
Grants receivable
Donations and gifts
Jelson Foodbank Donation
Other
Grants receivable for core activities
Groundwork Trust
Food Co-ordination (Leicester City Council)
Moneywise Plus Grant (National Lottery Community Fund & European Social Fund)
Leicester City Council Household Support Fund (HSF)
Kickstart (Department for Work and Pensions)
Refurb IT - Leicester & Leicestershire Enterprise Partnership (LLEP)/De Montfort
University
Leadership Training (National Lottery Community Fund)
Health Plus (NHS Charities Together)
Health Plus (ICB Better Care Fund)
Leicester Foodbank Plus (Leicester City Council/Feeding Britain/National Lottery
Community Fund)
Holiday Activities and Food (Leicester City Council)
Social Prescribing (National Academy for Social Prescribing)
De Montfort University (Leicester City Council Anti Poverty Grant)
Garment and Textile Workers Trust
Moneywise Living (Leicester City Council UK Shared Prosperity Fund funded by UK
Government)
Vaccine Confidence
Other		 2024
£
72
954,146
954,218
-
72
72
-
42,907
31,393
470,000
-
40,595
124,797
10,841
30,838
77,001
-
26,723
1,368
32,027
58,156
-
7,500
954,146		 2023
£
530
1,339,483
1,340,013
500
30
530
120,382
42,907
527,973
332,000
101,310
9,757
62,632
40,206
-
73,166
1,650
-
-
-
-
20,000
7,500
1,339,483

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE

FOR THE YEAR ENDED 31 MARCH 2024

4 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 4,641 1,435
Other income
Unrestricted Restricted Total Total
funds funds 2024 2023
general
£ £ £ £
Sundry income 150 310 460 419
Membership 7,931 - 7,931 8,008
Moneywise Plus Management Income 4,695 - 4,695 25,941
12,776 310 13,086 34,368
For the year ended 31 March 2023 34,268 100 34,368

5 Other income

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

6 Charitable activities

Charitable
Expenditure
Unrestricted
Charitable
Expenditure
Restricted
£
£
Staff costs
5,990
249,556
Depreciation and impairment
424
-
Equipment & maintenance expenses
2,695
395
Stationery & office expenses
342
268
Telephone
908
1,314
Travel & subsistence
128
3,133
General charitable expenditure
3,901
12,213
Moneywise Plus Partner costs
-
-
Project costs
(2,621)
650,287
Advertising
-
-
Project consultancy costs
2,512
36,081
14,279
953,247
Support costs
520
9,640
Governance costs (see note 7)
2,849
2,800
17,648
965,687
Analysis by fund
Unrestricted funds - general
17,648
-
Restricted funds
-
965,687
17,648
965,687
For the year ended 31 March 2023
Unrestricted funds - general
12,754
-
Restricted funds
-
1,335,993
12,754
1,335,993		 Total
2024
£
255,546
424
3,090
610
2,222
3,261
16,114
-
647,666
-
38,593
967,526
10,160
5,649
983,335
17,648
965,687
983,335		 Total
2023
£
338,575
239
1,239
1,305
1,923
2,142
10,157
356,087
600,748
380
22,400
1,335,195
3,309
10,243
1,348,747
12,754
1,335,993
1,348,747

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

7 Support costs

Support costs
Governance
costs
£
£
Premises costs
5,420
-
Insurance
4,740
-
Audit fees
-
-
Independent examiner fees
-
3,000
Legal and professional
-
2,310
Sundry expenses
-
166
Bank charges
-
173
10,160
5,649
Analysed between
Charitable activities
10,160
5,649		 2024
£
5,420
4,740
-
3,000
2,310
166
173
15,809
15,809		 2023 Basis of allocation
£
2,190
1,119
8,400 Governance
- Governance
1,479 Governance
165 Governance
199 Governance
13,552
13,552

Governance costs includes payments to the independent examiner of £3,000 (2023£8,400 audit fees) for independent examination and accountancy fees.

8 Net movement in funds
Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements - 8,400
Fees payable for the independent examination of the charity's financial statements 3,000 -
Depreciation of owned tangible fixed assets 424 239

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year. Trustees were reimbursed £0 in total for travelling expenses (2023- £0).

10 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
11 15

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

10
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2024
2023
£
£
231,002
306,682
14,552
19,533
9,992
12,360
255,546
338,575		 (Continued)
2024
2023
£
£
231,002
306,682
14,552
19,533
9,992
12,360
255,546
338,575
338,575

No employee received remuneration amounting to more than £60,000 in either year.

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024 2023
£ £
Aggregate compensation 100,964 79,577

11 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

12
Tangible fixed assets
Cost
At 1 April 2023
At 31 March 2024
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
13
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
14
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
15
Trade creditors
Other creditors
Accruals		 Computers
£
1,285
1,285
239
424
663
622
1,046
2024
2023
£
£
123,515
82,959
1,415
44
46,093
6,361
171,023
89,364
2024
2023
£
£
9,857
8,914
27,053
78,823
111,152
90,313
6,667
-
49,490
161,557
204,219
339,607		 Computers
£
1,285
1,285
239
424
663
622
1,046
2024
2023
£
£
123,515
82,959
1,415
44
46,093
6,361
171,023
89,364
2024
2023
£
£
9,857
8,914
27,053
78,823
111,152
90,313
6,667
-
49,490
161,557
204,219
339,607
1,285
239
424
663
622
1,046
2023
£
82,959
44
6,361
89,364
2023
£
8,914
78,823
90,313
-
161,557
339,607

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

15 Deferred income

Deferred income (see below)
Current liabilities
Unspent Moneywise Plus funds
Health Plus extension funding
Unspent Leadership
Other income in advance
Moneywise Living UKSPF Grant
DMU Anti-Poverty Grant
Textiles Trust Grant		 2024
£
27,053
-
6,662
-
7,189
6,597
4,632
1,973
27,053		 2023
£
78,823
27,085
30,000
19,377
2,361
-
-
-
78,823

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2023 Incoming Resources Transfers At 31 March
resources expended 2024
£ £ £ £ £
Groundwork Trust 2,642 - (1,520) - 1,122
Food Co-ordination (Leicester City
Council) - 42,907 (42,924) 17 -
Moneywise Plus Grant (National
Lottery Community Fund &
European Social Fund) - 31,393 (31,393) - -
Moneywise Living (Leicester City
Council UK Shared Prosperity
Fund) - 58,156 (58,156) - -
Leadership Training (National
Lottery Community Fund) - 124,797 (124,827) 30 -
Leicester Foodbank Plus (Leicester
City Council) - 77,001 (77,001) - -
Refurb IT - Leicester &
Leicestershire Enterprise
Partnership/De Montfort
University 2,000 40,595 (42,595) - -
Garment and Textile Workers Trust - 32,027 (32,027) - -
Health Plus (ICB Better Care Fund) - 31,220 (31,220) - -
Social Prescribing (National
Academy for Social Prescribing) - 26,723 (26,784) 61 -
Health Plus (NHS Charities
Together) - 10,841 (10,872) 31 -
De Montfort University (LCC Anti
Poverty) - 1,368 (1,368) - -
MyCake Dashboard - Leicester City
Council 7,500 7,500 (15,000) - -
Leicester City Council Household
Support Fund (HSF) - 470,000 (470,000) - -
12,142 954,528 (965,687) 139 1,122

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

16
Restricted funds
Previous year:
At 1
Groundwork Trust
Food Co-ordination (Leicester City
Council)
Moneywise Plus Grant (National
Lottery Community & European
Social Fund)
Vaccine Confidence
Leadership Training (National
Lottery Community Fund)
Leicester Foodbank Plus (Leicester
City Council)
Refurb IT - Leicester &
Leicestershire Enterprise
Partnership/De Montfort
University
Kickstart (Department for Work
and Pensions)
Holiday Activities & Food
Health Plus (NHS Charities
Together)
MyCake Dashboard - Leicester City
Council
Leicester City Council Household
Support Fund (HSF)		 April 2022
£
-
-
-
-
-
-
-
5,322
-
-
-
-
5,322		 Incoming
resources
Resources
expended
£
£
120,382
(117,740)
42,907
(45,607)
527,973
(527,973)
20,000
(20,000)
62,632
(62,632)
73,166
(73,166)
9,757
(7,757)
101,310
(106,632)
1,650
(1,650)
40,336
(40,336)
7,500
-
332,500
(332,500)
1,340,113
(1,335,993)		 (Continued)
Transfers
At 31 March
2023
£
£
-
2,642
2,700
-
-
-
-
-
-
-
-
-
-
2,000
-
-
-
-
-
-
-
7,500
-
-
2,700
12,142		 (Continued)
Transfers
At 31 March
2023
£
£
-
2,642
2,700
-
-
-
-
-
-
-
-
-
-
2,000
-
-
-
-
-
-
-
7,500
-
-
2,700
12,142
12,142

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

17 Unrestricted funds - designated

These are unrestricted funds which are material to the charity's activities.

At 1 April 2023 Transfers At 31 March
2024
£ £ £
Designated reserve 25,000 - 25,000
Funds designated for future business development 117,780 (370) 117,410
142,780 (370) 142,410
Previous year: At 1 April 2022 Transfers At 31 March
2023
£ £ £
Designated reserve 25,000 - 25,000
Funds designated for future business development 97,531 20,249 117,780
122,531 20,249 142,780

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2023 Incoming Resources Transfers At 31 March
resources expended 2024
£ £ £ £ £
Membership Services Delivery 20,000 17,417 (17,648) 231 20,000
Previous year: At 1 April 2022 Incoming Resources Transfers At 31 March
resources expended 2023
£ £ £ £ £
Membership Services Delivery 20,000 35,703 (12,754) (22,949) 20,000

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

18 Unrestricted funds

(Continued)

Designated reserve

This amount has been set aside to cover the work of the organisation in the event that funding should cease. This is set to cover approximately three-six months running costs. This amount may vary annually depending on business development.

Funds designated for future business development

This amount has been set aside by the Board of Trustees for future business development.

19 Analysis of net assets between funds

Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2024
2024
2024
£
£
£
At 31 March 2024:
Tangible assets
622
-
-
Current assets/(liabilities)
19,378
142,410
1,122
20,000
142,410
1,122
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2023
2023
2023
£
£
£
At 31 March 2023:
Tangible assets
1,046
-
-
Current assets/(liabilities)
18,954
142,780
12,142
20,000
142,780
12,142		 Total
2024
£
622
162,910
163,532
Total
2023
£
1,046
173,876
174,922

20 Related party transactions

LEICESTERSHIRE VOLUNTARY SECTOR RESOURCE AGENCY TRADING AS REACHING PEOPLE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

20 Related party transactions

(Continued)

CALS

Elizabeth Chahal a trustee of Leicestershire Voluntary Sector Resource Agency trading as Reaching People, is also in a position of influence at CALS a member of the Charity.

During the year the charity charged membership fees of £528. We were supplied with invoiced services from CALS to the value of £154,611. The outstanding supplier balance on the purchase ledger at the 31 March 2024 was £97,534.

The Centre Project

Eric Waweru a trustee of Leicestershire Voluntary Sector Resource Agency trading as Reaching People, is also in a position of influence at The Centre Project a member of the Charity.

During the year the charity charged membership fees of £132 to The Centre Project. There were no invoiced services. All amounts are settled in line with normal operating requirements, with no extended terms of credit provided.

Associate Members

The following trustees were associate members of Reaching People and paid membership fees as follows:

Jenny Hand a trustee of Leicestershire Voluntary Sector Resource Agency trading as Reaching People, is also a trustee of the Leicestershire and Rutland Community Foundation (LRCF). During the year LRCF received £3,000 to fund a Freelance grant assessors training course.

21 Analysis of changes in net funds

The charity had no material debt during the year.

22 Cash generated from operations

Cash generated from operations
2024
£
(Deficit)/surpus for the year
(11,390)
Adjustments for:
Investment income recognised in statement of financial activities
(4,641)
Depreciation and impairment of tangible fixed assets
424
Movements in working capital:
(Increase) in debtors
(81,659)
(Decrease) in creditors
(83,618)
(Decrease) in deferred income
(51,770)
Cash absorbed by operations
(232,654)		 2023
£
27,069
(1,435)
239
(18,491)
(800)
(57,162)
(50,580)

Signature Certificate

Reference number: I9T3D-TNG9B-VHWPJ-AWY45

----- Start of picture text -----
Signer Timestamp Signature
Sa @ Se 0 i a a ee ae a ae a Sa se.
Jennifer Hand
----- End of picture text -----

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15 Oct 2024 13:54:00 UTC 15 Oct 2024 14:06:03 UTC 16 Oct 2024 11:22:10 UTC

IP address: 86.149.239.126 Location: Cheltenham, United Kingdom

Miriam McKee

Email: miriam.mckee@live.co.uk

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15 Oct 2024 13:54:00 UTC 16 Oct 2024 13:23:58 UTC 16 Oct 2024 13:25:41 UTC

IP address: 157.231.74.189 Location: Haywards Heath, United Kingdom

Thomas Mayfield

Email: tom@mayfieldandco.co.uk Shared via link

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IP address: 109.73.121.1 Location: Harringay, United Kingdom

Document completed by all parties on: 16 Oct 2024 13:45:06 UTC

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