COMPANY REGISTRATION NUMBER: 03666606 CHARITY REGISTRATION NUMBER: 1073101 Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Unaudited independently examined accounts 31 March 2024
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Financial statements Year ended 31 March 2024 Pages Trustees, annual report (incorporating the directors. report) Indepen(Jent examiner's report to the trustees Stalement of financial aclivities {including income and expenditure account) Balance she8t 1to9 10 12to13 Notes to the financial statements 14to25
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Trustees. annual report {incorporating the directors, report) Year ended 31 March 2024 The trust8es, who are also the direclors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024. 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 goveming document, the Charities Act 2011 and 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 Republi¢ of Ireland published in October 2019.
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Trustees. annual report {incorporating the directors. report) (¢ontinuedJ Year ended 31 March 2024 Chairman's report Introduction This report captures the key activities, decisions, and developments at MSVOF over the past year, based on the minutes of our trustee meetings. We've focused on maintaining and improving our facilities. supporting our staff, managing finances wisely, and actively engaging with the community. Maintenance and Infrastructure We'v8 Put significant effort into enhancing our infrastructure.. Windows and Roof: We've started planning to replace old windows and used a drone to survey the roof, identifying critical areas that need attention. We're actively seeking funding for these important maintenance tasks. Fire Stat•on.' We've been closely monitoring the leasing process of the Fire Station to esnure it aligns with our strategic goals. Security and IT Services: We tackled several operational challenges, including CCTV outages, and decided to switch our IT servi¢e providers to improve functionality and Cut costs. Stsff and Administration Our success this year is largely due to th8 dedication and hard work of our staff. We're thrilled to formally recognise Colin Lay's transition to the role of permanent manager. His l&adership has been crucial in navigating us through challenges and achieving many accomplishments. Colin's commitment to MSVOF'S mission and his ability to inspire his team have been pivolal. Alongside him, Jackie Claridge, Jim Harrington, Kaitlyn Lay, and Betty Spencer have all excelled, each conlribuling uniquely to our operations and community outreach. Jackie and Jim ensure our operations run smoothly with their meticulous attention to financial and administrative details. Kaitlyn Lay has significantly boosted our online engagement and visibility through her management of MSVOF'S digital media presenc8, keeping the community informed and engaged. Betly Spencer, a long- seNing volunteer, has played a crucial role in policy writing and providing administrative support, helping to strengthen our organisational framework. The collective efforts of this team have not only suslained but also propelled MSVOF'S growth and reach. Their dedication is a testament to the strength and spirit of our organisation, and we are immensely grateful for their ongoing commitment and exemplary service. Financial Management Funding and Expenditure: We managed a £15.000 grant for dementia-friendly activities and celebrated the success of the High Road festival fundraiser. Budget Concerns". W8 discussed the need for additional resources to ensure our stsff aren't overworked and lo manage increased operational costs efficiently. Projects and Community Engagement Event Planning and Execution: Our team organised sev8ral community 6vents. including a successful Chrislmas fair and monthly car boot sales. which have significantly contributed to our fundraising efforts and community engagemenl. New Initiatives". We launched new projects such as 'Cooking on a Budgev and are helping to develop a young dementia project with Communities Together, underscoring our commitment to addressing diverse community needs.
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Trustees. annual report (incorporating the directors. report) (conlinugd) Year ended 31 March 2024 Governance and Policy Recruitm8nt and Policy Changes: We implemented changes to our recruitment policy and are working on a new contract formal for staff to streamline our hiring processes. Policy Accessibility: We improved the accessibility of our policies and procedures by transitioning from Dropbox to Microsoft Sharepoint for better integration and management. Challenges and Resolutions Staffing Challenges: We addressed various staffing issu8s, including the need for improvement in cleaning services and adjustments in staff roles and responsibilities. Infrastructure Challenges: We discussed subsidence issues and the necessity for phased electrical maintenance to ensure the safely and functionality of our facilities. Looking Fonvard Ongoing Projects and Initiatives: We remain focused on enhancing community engagement, improving infrastructure, and ensuring financial sustainability. Conclusion The past year has been marked by both challenges and significant achievements for MSVOF. Through proactive governance, a dedicated staff team, and strong community support, we've made substantial progress in advancing our mission. We eagerly anticipate building on these successes in the coming year, steering MSVOF towards a future filled with potential and impact. Mark Coburn (Chair of Trustees for MSVOF) Reference and administrative detai15 Registered charity name Mid Suffolk Voluntary Organisations Forum Charity registration number 1073101 Company registration number 03666606 Principal office and registered Red Gables office Ipswich Road Stowmarket Suffolk IP14 1BE The trustees The trustees who Served during the year and at the date of approval were as follows= M Coburn {Chair) S Lovell L Scott (Appointed 2110212023) M Trent R Taylor (Resign8d 2710712023)
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Trustees. annual report (incorporating the directors. report) (contlnued) Year ended 31 March 2024 Membership groups 1 st Stowmarkel Guides and Rangers Art for All Bacton Primary School Catherine Rolfe Yoga Come Sing with Me Community Wheel Diabetic Support Group East Anglian Postal History Society Enigma Family Psychology Mutual Gryphon First Aid Unit Lapwing Education Mid Suffolk Healing Rooms Ocala Healthcare Ltd POhWER Red Gable5 Garden Project Red Gables Sensory Ark Project Scorpion Martial Arts Academy SODS St Elizabeth Hospice Stowmarket U3A Suffolk Guide Association Suffolk Sight Totally HR Ltd Volunteers of Stowmarket (Eco) Red Gables Tenants Abbeycrofl Leisure Autism Success Formula Bravo Children & Young People's Services Community Catalysts CIC Cooking on a Budget Dimensions Eastern Angles- Green Dome Families Together Suffolk Gipping Social Lodge (Oddfellows) KFL Yoga Macmillan Norfolk and Suffolk NHS Foundation Trust Parenting Apart Centre East CIC Red Gables Better Balance Red Gables Lunch Club RSPCA Suffolk Central Singing for the Brain Solo Housing Stowmarket ASD Saturday Club Suffolk Family Carers Suffolk Red Cross Link Group Suffolk Tree Warden Network Triathlon England East R8gion You're Welcome ACE {Anglia) Ltd East Anglian Traditional Music Trust National Literacy Trust Sarianchi Wellbeing CIC Synthesis Media Communities Together EA Gables Therapies Renate Ruddock Slowmarket Foodbank VallanVLighter life Red Gables Volunteers with Projects Cake, Cancer & Coffee <MacMillan) Garden Project Lunch Club Volunteers of Stowmarket (Eco) Total number of Volunteers = 70 Cooking on a Budget Living With Dementia Members Club Repair Café You're Welcome Solicitors Prettys Elm House 25 Elm Street Ipswich IP12AD
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Trustees. annual report (incorporating the directors. report) [¢ontinued) Year ended 31 March 2024 Independent examiner L Thurston FCCA Lov8well Blake LLP Chart&red accountsnts First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA Bankers TSB 7 Market Street Stowmarket IP14 1DY
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Trustees. annual report (incorporating the directors. report) {¢ontinued) Year ended 31 March 2024 Objectives and activities Aims of the Charity {Exlracl from the Memorandum of Association)-. To promote for the public benefit the urban and rural regeneration in areas of social and economic deprivation and in particular Mid Suffolk District and the County of Suffolk. To promote the benefit of the inhabitants of the ar&a of benefit without distinction of sex, sexual orientation, age, disability, nationality, race or of political, religious or other opinions, by associating together the said inhabitants and the statutory authoritie5, voluntary and other organisation5 in a common effort to advance edLEoalion and to provide facilities in the interests of social welfare for recreation and leisure-lime occupation with the object ot improving the conditions of lrfe for the said inhabitants. To promote and improve the effectiveness of charities which operate in whole or in part in Mid Suffolk in direct pursuit of their objectives by the provision of advice, training, and information on efficient and professional management of r8sources. To promote such other purposes as are charitable according to the laws of England and Wales for the benefit of th8 public as may from lime to time be determined. Main activities of the forum Promoting and improving the effectiv&ness of voluntary organisalions working in the Mid Suffolk area by th8 provision of advice, training, practical support, and information. Managing Ihe Red Gables Wellbeing Hub which provides permanent office accommodation for voluntary groups as well as facilities for hire such as the Redwoods Cenlre. Public beneflt The Board of Trustees are aware of their duty to ensure the activities of Mid Suffolk Voluntary Organisations Forum pursue ils charitable objectives and thal such aotivities are for the purposes of public benefit. Reviews by the Chairman and the Red Gables Manager is included in the Annual Report. The infomation sets out how the public benefit of Red Gables was delivered in the Mid Suffolk area during the past 12 months. Achievements and performance The Charity's activities for the year are reported in the Red Gables Chairfs Report within these accounts.
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Trustees, annual report (incorporating the directors. report) (Gontlnuedj Year ended 31 March 2024 Financial review Unrestricted income for the year has decreased by £1,734 to £102.590 (2023.. £104,324) this is mainly due to an decreas8 in grants and donations although this was somewhat offset by a increase in rental income. Total income amounted to £181,919 (2023: £168,779) up 80/0 on last year. Unrestricled expenditure has decreased by £12,573 to £93,069 (2023.. £105,642). Total expenditure amounted to £198,687 (2023.. £163,386) up 22 /0 on last year. After transfers between funds and gains from revaluations, unreslricted funds carried forward amounted to £60.681 (2023- £57,170) as at the yaar end dale, with total reserves amounting to £2.066.432 {2023.- £2,233,200). Reserves pollcy The Charity's reserves policy is to hold six months unrestricted expenditure as reserves which would amount to £46,535 (2023.. £54,152) based on current expenditure levels. The policy is set to hold enough free reserves to enable the Charity to fulfill statutory and legal obligations and lo provide a contingency fund to meet unforeseen falls in income or increases in expenditure. In setting Ihe reserves policy the Trustees have considered the benefits and security of it5 ownership of the Red Gables property, which allows the Trustees to properly manage the charities finances with consistency against unforeseen expense fluctuations in future years. The Charity's actual reserves amounted to £60,681 as at the year end12023.' £57.170) which is in line with the policy. The Trustees monitor and this review annually. Plans for future period5 The Charity's plans for the foreseeable future are to promot8 and Ltndertake activities in line with the Charity's aims and objectives lo support the tenants and the wider community including those who rely on Red Gables, as outlined in the Chairs Report.
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Trustees. annual report (incorporating the directors. report) (continued) Year ended 31 March 2024 Structure, governance and management Organisational and decision-making structure The Mid Suffolk Voluntary Organisations Forum, also known as Red Gables or the forum throughout these accounts is a registered charity and a company limited by guarantee, company number 03666606 and Charity number 1073101. A Board of Trustees is responsible for managing the business of the Forum and there are six scheduled meetings of the Board each year. Appointment or election of Trustee5 Trustees are appointed by the Annual General Meeting or by resolution of the Board of Trustees. The number of Trustees shall not be less than three and the total number is not subject to any maximum unless othetwise detemined. New Trustees will communicate wilh the Charity and its existing Trustees prior to becoming a member, during which time the individual will obtain an understanding of the objectives and operalions of the Charity and the individual's expected role. Membership of the forum Membership to the fowm is automatically granted lo all regular tenants and hirers of Red Gables and Redwoods. Additionally, voluntary organisations or community groups with a charitable purpose, as well as registered charities in Mid Suffolk, are eligible for membership. Individuals and groups with relevant skills or interests that can conlribute to the growth of the voluntary sector are also invited to join. Approval from th8 board of Trustees is required for all applications. Main restrictions set by governing document The governing documents of the Forum are the Articles of Association and the Memorandum of Association. The overriding restriction is that the income and property of the Forum shall only b& used for achieving the aims of the Charity. Risk assessment The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Independent examiner reappointment A resolution to appoint L Thurslon FCCA of Lovewell Blake LLP as independent examiner will be proposed at the next meeting. Small company provisions This r8POrt has been prepared taking advantage of the small companies. exemption of section 415A of the Companies Act 2006.
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Trustees, annual report (incorporating the directors, report) {¢ontlnued) Year ended 31 March 2024 The tru5tees' annual report was approved on trustses by.. M Coburn (Chair) Twstee
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Independent examiner's report to the trustees of Mid Suffolk Voluntary Organisations Forum Year ended 31 March 2024 I report to the charity trustees on my examination of the financial statements of the company for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure accounl), balance sheet and the related notes. Responsibilities and basis of report As the charity trustees of the company land also its directors for the purposes of company law) you are responsible for Ihe 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 company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinalion, I report in respect of my examination of your company's financial statements as carried out under section 145 of the Charitios Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5}{b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come to my att8ntion in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the company as required by section 386 of the 2006 Act., or the financial slalements do not accord with those records. or the financial statements do nol comply with the accounting requirements of section 396 of the 2006 Act olher than any requirement that the accounts give a 'true and fair, view which is not a matter considered a5 part of an independent examinalion., or the financial statements have not been prepared in ac¢ordance with the methods and principles of Ihe Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordanGe wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. 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 lo enable a proper understanding of the accounts to be reached. L Thurston FCCA Independent Examiner Lovewell Blake LLP Chartered accountants First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA 10
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Statement of financial activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds 2023 Unrestricted funds Total funds Note Incom8 and endowments Grants and donations Charitable activities Other trading activities Total income 3.963 97,877 750 73,472 4,609 1,248 77,435 102,486 1,998 181,919 68,197 98,796 1,786 102,590 79,329 168,779 Expenditure Charilable activities 93,069 105.618 198,687 163,386 163,386 Total expenditure 93,069 105.618 198,687 Net (expenditure)fincome before transfer of funds 9,521 (26,2891 116,768) 5,393 Transfers between funds {5,683} 5,683 other recognised gains and losses {Losses}Igains from revaluation of fixed assets Net movement in funds {327) 3,511 (149,673} (170,279) 1150.000} 1166.768) 1,753,788 1.759,181 Reconciliation of funds Total funds brought forward Total funds carried forward 57.170 2,176,030 2,233,200 474.019 2,233,200 60,681 2,005,751 2,066,432 The statement of financial activities includes all gains and losses recognised in the year. All income and expandilure derive from continuing activities. The notes on pages 14 to 25 form part of these financial statements. 11
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Balance sheet 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 1,967,293 2.155,007 Current assets Debtors Cash at bank and in hand 12 13,578 103,512 8,121 90,022 98,143 117.090 Creditor5: Amounts falllng due within one year 13 {17,9511 {19,950) Net current assets 99,139 2,066,432 2,066,432 78,193 2,233.200 Total assets less current liabilities Net assets 2,233.200 Funds of the charity Restricted income funds.. Revaluation reserve Other restricted income funds Unrestricted funds.. Revalualion reseNe Other unrestricted income funds Total unrestricted funds Total charity funds 1,595.271 410,480 1.744.944 431.086 8,517 52,164 8,844 48,326 60,681 57,170 16 2,066,432 2,233,200 For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not requir8d the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of th6 Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regim6. The balance sheet continues on the following page. The notes on pagès 14 to 25 fonn part of these financial statements. 12-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Balance sheet (contlnued) 31 March 2024 These financial statements were approved by the board of trustee5 and authorised for issue on .?.! l ! p / and are signed on behalf of the board by.. M Cobum (Chair) Trustee Company registration number: 03666606 The notes on pages 14 to 25 fomi part of these financlal statements. 13-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The operational and registered office address of the charity is Red Gables, Ipswich Road, Stowmarkel, Suffolk, IP14 1 BE. Statement of compliance The charity constitutes a public b&nefit entity as defined by FRS 102. The financial statements have been prepared in accordanGe with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charilies 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 Charities Act 2011. the Companies Act 2006 and UK Generally Accepted Accounting Practice. Accountlng policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by th8 revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. Th8 financial statements are prepared in sterling. which is the functional currency of the entity. Going concern The accounts have been prepared on the on going concern basis and the Trustees believe that no material uncertainlies exist. The Trustees have considered the level of funds held and the expected income and expenditure for the next 12 months from authorising these financial statement. The budgeted income and expenditure is sufficient with the level of reseNes for the Charity to be able to continue as a going concern. Income tax As a regislered charity, the activities are exempt from United Kingdom Income and Corporation taxation, provided that the income is applied to charitable purposes. Fund accounting Unrestr(cted funds are available for use at the discretion of the Trustees to further any of the Charity's purposes. Designated funds, where necessary are unreslricled funds earmarked by the Trustees for particular future projects or commitments. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of two sub-classes= restricted incom8 funds or endowment funds. 14-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements (Continued) Year ended 31 March 2024 Accounting policies (contlnued) Income All income is included in the stat8ment of financial activities when entitlement has passed to the charity, il is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular ategories of income-. income from donations Dr grants is recognised when thera is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. income from contracts for the supply of services is recognised with the delivery of the ¢ontracted Service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as restricled. Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully r8covered, and is classified under headings of the statem8nt of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities. and the sale of donaled goods. expenditure on charitable activi118s includes all cosls incurreé by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable aclivities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable lo a single activity are allocaled directly to that activity. Shared costs are apportioned between the activities they contribute to on a ieasonable, justifiable and consislenl basis. Tangible assets Tangible assets are initially recorded at cost. and subsequently staled al cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gain5 and losses. unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous r&valuation gain, in which case the loss is shown within other recognised gains and losses on the statemenl of financial activities. 15-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements fconlinued) Year ended 31 March 2024 Accounting policies fcontlnuedj Depreciation The Freehold propety is being depreciated over 50 years and includes improvements. Land is not deprecialed. Freehold property improvements Fixtures and fittings Equipment 109/0 Straight line 25 % straight line Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the presenl value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or oth8r consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the di5counl is recognised as an expense in the period in which it arises. Lirnited by guarantee The company is limited by guarantee and does not have a share capital. Every member of the company undertakes lo contribute to the assets of the company if it is wound up during the lime that he or she is a member, or within one year afterwards, for payment of the debls and liabilities of the ompany contracted before the lime at which he or she ceases to be a member and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributors among themselves such amount as may be required not exceeding £1. 16-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements (continued) Year ended 31 March 2024 Grants and donations Unrestricted Funds Reslricted Total Funds Funds 2024 Grants Suffolk County Council Mid Suffolk District Council Slowmarket Town Council Other grants and donations Mccarthy & Slone Charitable Foundation Albert Hunt Trust Suffolk Community Foundation 150 6,350 10 25,325 6,472 4.000 31,165 73,472 150 6,350 3,000 26,298 6,472 4,000 31,165 2,990 973 3,963 77,435 Unrestricted Funds Restricted Total Funds Funds 2023 Grants Suffolk County Council Mid Suffolk District Council Slowmarket Town Council Other grants and donations Mccarthy & Stone Charitable Foundation Albert Hunt Trust Suffolk Community Foundation 1.350 27,745 14,450 11,720 1,350 31,045 14.450 18,182 3,300 6,462 3,170 58,435 3,170 9,762 68,197 Charltable activitie5 Unrestricted Funds Restricted Total Funds Funds 2024 Rents and service charges Other income 97,305 572 4,458 151 101.763 723 97,877 4,609 102,486 Unreslricted Funds Restricted Total Funds Funds 2023 Rents and service charges Other income 92,508 673 4,116 1,499 96,624 2,172 93,181 5,615 98,796 17-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements (continued) Year ended 31 March 2024 Expenditure on charltable activities Unrestricted Funds Restricled Total Funds Funds 2024 Staff costs Office costs Property costs Project and service costs Deprecialion Support costs 56,985 2.959 28,683 56.985 2.959 31,803 65.643 37.714 3,583 198,687 3,120 65,643 36,855 859 3,583 93,069 105,618 Unrestricted Funds Restricted Total Funds Funds 2023 Stsff costs Office costs Property costs Project and service costs Depreciation Support costs 64,586 4,878 31,265 1,115 833 2,965 64,586 4,878 31.275 47,900 11,782 2,965 10 46,785 10.949 105.642 57,744 163,386 Analysis of support costs 2024 2023 Independent &xaminers fees Legal and professional fees 2,670 913 2,592 373 3,583 2,965 Net {expenditure)lincome Net lexpenditureifincome is stated after chargingllcrediting}- 2024 2023 Depreciation of tangible fixed assets 37,714 11,782 18-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements {continugd) Year ended 31 March 2024 Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wagès and salaries Pension Gosts 54,711 2,274 56,985 62.122 2,464 64.586 The average head count of employees during the year was 4 (2023: 4). No employee received employee benefits of more than £60,000 during the year {2023'. Nil)- 10. Truslee remuneration and expenses The key management personnel of the Charity comprise the Truste8s. One Trustee received remuneration for non-Trustee related services totalling £2,926 {2023- £796). One trustee was reimbursed expenses amounting to £6012023.. £Nil) during the year. The total amount of employee benefits, including employer pension contribution.. received by senior management for their services to Ihe Charity was £Nil {2023.' £Nil). 11. Tangible fjxed assets Land and freehold Fixtures and property fittings Equipment Total Cost At 1 April 2023 Revaluations 2,334,709 (150,000) 2,184,709 51,119 23,221 2,409,049 {150,0001 2,259,049 At 31 March 2024 51,119 23,221 Depreciation At 1 April 2023 Charge for the y8ar At 31 March 2024 184,709 36,622 46,376 1,009 22,957 83 254,042 37,714 221,331 47,385 23,040 291,756 Carrying amount At 31 March 2024 1,963,378 3.734 181 1.967,293 2,155,007 At 31 March 2023 2,150,000 4,743 264 Tangible fixed assets held at valuation The land and freehold property was revalued by trustees in July 2023 on the basis of advice and assistance by third party providers to be £2.000,000 excluding depreciation. The historical cost of the land and propety is £580,921 {2023= £580,921). 19-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements (contlnued) Year ended 31 March 2024 12. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 10,668 2.610 300 6,012 1,809 300 13.578 8,121 13. Creditors: Amounts falling due within one year 2024 2023 Trade Gredilors Accruals and defeed income Other creditors 526 17,073 352 2,455 16,733 762 17,951 19,950 14. Defined contribution plans The amounl recognised in income or expenditure as an expense in relation to defined contribution plans was £2,274 (2023: £2.4641. 15. Deferred income 2024 2023 At 1 April 2023 Amount released to income Amount deferr8d in year At 31 March 2024 14,171 {14,171} 14,121 14,121 12,954 (12,954) 14,171 14,171 Deferred income represents conditional amounts received in relation to services actioned after the year end dat8 and are released in the y8ar to which they relate. -20-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements (continued) Year ended 31 March 2024 16. Analysis of charitable funds Unrestricted Funds Revaluation gains I (losses) Transfers At 1 Apr 2023 Income Expenditure At 31 Mar 2024 Unrestricted Funds 57,170 102,590 (93,069} (327) {5.683) 60,681 Restricted funds Revaluation gains I (losses) Transfers Al 1 Apr 2023 Income Expendilure At 31 Mar 2024 Community Fund Old Library Extension Festival Dementia Fund Garden Projects Bètter Balance Classes Building Costs Come Sing with Me Cooking on a Budget Window Replament Car Park Resurfacing Range Cooker LWD Members Club Cake, Cancer and Coffee Redwoods Table and Chairs Sensory Ark Project Lunch Club Singing for the Brain Rickshaw Hand Dryers Haughly Bequ8St Volunteers for Slowmarket Events IT Improvements Nurture Together Pop Up Farm 24 Stow Xmas Tree Festival Slowmarket and District Dementia Community Group Windows & Doors You're Welcome 1,550,434 553,592 (22,666) (133,058) {11,391) {16,615) 1,394,710 525,586 6,474 913 {1,419) 1998) 5.055 83 440 5,570 4,000 2,000 2,816 (4,602) (3,120) {1,089} {1,7741 {779) {1,359} {205) {8,055) 1,408 880 911 1,042 3,311 26,021 770 11,712 4.090 27,380 975 19,767 534 188 (303) 419 2,385 {4541 {2,137) {10,515) {3,845) 1,180 7,908 8,725 1,931 957 4.629 1,000 {2,0221 1,386 700 7,266 700 1,475 4.569 1,475 6,873 (754) {1,550) 22,383 1,208 1.000 977 826 (20,692) {1,058) {725) (450) (217) 2,517 (150) 275 1,484 3,283 407 3,500 550 (52} 1112) 164 1,479 10,580 3,000 {2,575) (2,394) (1.932) {105,618} 1149,673) 9,484 606 336 2,268 2,176,030 79.329 5,683 2,005,751 21
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements l¢ontinued) Year ended 31 March 2024 Unrestricted funds Revaluation gains I (losses) Transfers At 1 Apr 2022 Al 31 Mar 2023 Income Expenditure Unrestricted Funds 58,940 104,324 (105,642) 8,844 (9,296} 57,170 Restricted funds Revaluation gains I (losses) Transfers At 1 Apr 2022 At 31 Mar 2023 Income Expenditure Community Fund Old Library Extension Garden Projects Better Balance Classes Volunteer Projeot Window Replacement Car Park Resurfacing Rang8 Cooker Cake, Cancer and Coffee Redwoods Table and Chairs Sensory Ark Lunch Club Singing for the Brain Rickshaw Haughley Bequest Volunteers for Stowmark8t Events IT Improvements Nurture Together Pop Up Farm stow Xmas Tree Festival Dementia Community Group You're Welcome 259,406 106,453 (5,424) 1,295,079 12,726) 449.865 {1,979) 1,373 1,550,434 553,592 1,979 2,992 {2,552) (2,565) (779} (1,359) (206) 1,513 1,084 28,739 849 440 1,052 3,785 4,090 27.380 975 332 562 300 {328) 534 297 2,502 14541 (3,785) {11,749} (5.900) 2,542 (1,067) 2,350 9,727 2,210 2,385 5.076 700 7,873 {2,022) 1.386 700 6.873 {1,0001 25 31,430 3,311 1,000 1,000 3,055 (9,072) (2,103) 22,383 1,208 1,000 977 (23) (2,355) {700) (52) 1521 2,334 4,746 (855) (2,478) (57,744) 1,744,944 1,479 2,268 9,296 2,176,030 415,079 64,455 -22-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements fcontlnued) Year ended 31 March 2024 Restricled fund purposes: Community Fund." Funding from the Community Fund for propety improvements. Old Library Extenslon.. Income and expenditure relating to the Old Library extension. Festlval Dementia Fund.. The income received within this fund is restricted to the purposes set out by the fund provider. Garden Pmjects." Income and expenditure relating to the work on the grounds. Better Balance Classes.. Funding from the Simpson Fund through Suffolk Community Foundation to provide exercise classes for older people through the Redwood5 Lunch Club sessions. Building Costs." The income received within this fund is restricted to the purposes set out by the fund provider. Come Sing with Me." The income received within this fund is restricted to the purposes set out by the fund provider. Cooking on a Budget.. The income received within this fund is restricted to the purposès set out by the fund provider. Window Replacement.. Funding from Suffolk County Council to improve the thermal efficiency of Red Gables, including insulation and s8condary glazing. Car Park Resurfacing." Funding from Viridor Credils Environmental Company and Mid Suffolk District Council for resurfacing the car park. Range cooker." Funding from the Dulv8rton Twst for a new range cooker. LWD Members Club.. The income reiVed within this fund is restricted to the purpos8s set out by the fund provider. Cake, Cancer and Coffee." Funding from Macmillan Cancer Support for complimentary therapy activities. Redwoods Table and Chalrs.. Suffolk Communily Foundation's Joy Abbott Fund and Awards for All funded Ihe replacement of furniture in Redwoods. Lunch Club.. Supported by Stowmarket Town Council and Oddfellow lo cover room hire and staff time,while keeping the costs to members as low as possible. Singing for the Brain.. Singing for th8 Brain is a project which started in spring 2021 delivering in person and online singing sessions for people with neurological and brain disorders and also regular recording and sending out CDS for those unable to get online. Funding of £8.450 was awarded from Awards for All, part of the National Lottery. Deliv&ry of the project will be largely the following financial year. -23-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements (conlinuedj Year ended 31 March 2024 Rickshaw.. The Stowmarket Rickshaw Projed is a joint venture between MSVOF and BSEVC with support from Suffolk County Council and Stowmarket Dementia Action Alliance. In February 2021 MSVOF was awarded £4.996 from Suffolk Community Coronavirus Fund and Reviving Our Community Fund, both of which are adminisl6red by Suffolk Community Foundation. The funding was to purchase another Rickshaw, a second hand one together with some running costs for the additional administration costs. Delivery of the project will b8 largely during the following financial year. Hand Dryers." The income received within this fund is restricted to the purposes set out by the fund provider. Haughley Bequest.. This £10,000 funding was provided through the bequesl of a lady and facilitated through a local funeral director. Volunteers fi?r Stowmarket (Eco)." Initially funded with £1,000 through Slowmarket Town Councils environment fund, the project has successfully sourced £10,000 from the Community Choices Award, 8 grant provided by Stowmarket Town Council to celebrate the platinum jubileè. ITlmprovements." This fund relates lo income received specifically for Ihe pruposes of the fund. Nurture Together.. This fund relates to income received specifically for the pruposes of the fund. Pop Up Farm." This fund relates to income received specifically for the pruposes of th8 fund. Stow Xmas Tree Festival.. This fund relates to income received specifically for the pruposes of the fund. Stowmarket and District Dementia Communlty Group.. This fund relates to income received specifically for the pruposes of th8 fund. Wlndows & Doors." The income received within this fund is restricted to the purposes set out by the fund provider. You're Welcome.. The income received within this fund is restricted to the purposes set oul by the fund provider. The following restricted projects have been completed: Sensory Ark Project.. The Sapphire fund administered by Suffolk Community Foundation has funded this project to deliver a mixture of Art outreach Iherapy sessions both onsite and oul in the community. Events.- This fund relates to income received specifically for the purposes of the fund. -24-
Mid Suffolk Voluntary Organisations Forum Company Limited by Guarantee Notes to the financial statements (continued) Year ended 31 March 2024 17. Analysis of net assets between funds As at 31 March 2024 Unr8Stricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Net current assets 14.964 45,717 1.952,329 53,422 1.967,293 99,139 Net assets 60,681 2,005,751 2,066,432 As at 31 March 2023 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Net current assets 16,151 41,019 2,138,856 37,174 2,155,007 78,193 Net assets 57,170 2,176,030 2,233,200 18. Related parties Other than as elsewhere disclosed in the accounts, there were no related party transactions in this or the previous year. -25-