commuNity associatiON VEKfuRE COMMUNITY ASSOCIATION FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31st March 2023 Regtered Charlty Number: 1073115 Company Registered Number. 2178614
VENTURE COMMUNITY ASSOCIATION Trustee Reixwt for the r ÈMled 315% March 2023 It gives me great Pase to intr(XIu annual repxjrt and accoutts. It ftels like Éxtr¢ordinary tirnes are Lcoming quite normal these days! As we finally eryrGe£l from Cowd restrict15, we entered a cost-of.lmng crisis. Hever, that for 50 mary In our comrnun1s, that 15 nothing new. Ixjt also saw many me peCY firvjiry life even more difficltlt than noma,, Venture Centre LS here for the qocrfl times and the bad. a1 have Contird to do all we can to help. During the year, to try and ease some of the presstjre, we have hosted cost.of-liwThJ events, where many oryanisatiorts like Q'tS Adwce came ttxiether to womde pr&tical help and support. We oper£d our dc#Jts to provide one of a range cl warm spaces during t1 vrinter. where people can come In, have free tea and o)ffee, use intw J"n in athvfoes and generally keep wami on our heating, so they (kjnt have to w their own. We have contsnued to help pecfAe thrfyJgh (Njr f(xJJbanks, tx)th at the Venture Centre and at Fklshpnt in Chelsea. promding a ge of f1 item5 whith a19) helps to red£ the shkIng amount of f&Jd that Wld Otherlse be thrcw4n ay. Cvr Wednesday flfeet and Eat has become irKreasingly 11 attended, in txIrt I am sure due to the reputation of the very talented chefs vtho cc(k SLKh fabubus focé I It 15 alw heartening to see how the Venture Centre Lyings people tog&her to See neighLKyJrs meeting each other for the first time over fccd. stawng on trj continue t1'r C(Versal)n5 aTrJ genÈrally feding warm, safe and welcome. These gathenngs are al an opp)rtunty for help and support service5 to join u5 fc lunch - Whi chatbng (wer food. they can at50 tJk atut the hdp that is out thÈre fr>r peop. Although WR have seen our costs irsIng. Vth eierything frryn energy to food going up in pri, we have not let that get in the way ltYj there, beirKJ availa1e afvj conts"NJing to be ielialje fri to all of our friwKIs in our comThur¥tie (Xrr community Frogammes, Y4hich YR cfmde irto seas(m5 every year - s anxjnd 30 drfFen1 activilie5 taknng tla Mwday to 5atwday. We wcrfjuce a coburfLI booklet which we distribJte wdely, promoting everythirvj Bcoty Bats to mitation, from cookery to drummingrt from frying p5 to 5ted 51 The sumrner- when we turned frorn a spKe to a cool space. saw arther packed programme of actrvits'es for all age grDUPS. 0 [Lr pkygrounds wt on a F¥Jge rarwje of ivlties and trips, on top of a full day of opening. frThn breakfast club at 8.30 am until 6 in the eVing. We were delighted that we Vre able to tske our youThJ peo once again to a deTrtiaI camp, this year in Bud(inthamthire. Staying up tcA) late. a bit afraid of the dark a1 ting them5eWes on a highwre assault course is such a trarthrnatNe exwertt. It gives our children as mary storles to go back to sch1 Yth, a5 ary child thi5 ecOrOnY divLY5e trx)rough. The summer also provided us (ce again WTth IT)WrturMties to spread the fijn and coIcr of Carnival fr(xn PortoiEllo Green and Pows Square to World's End Piazza, yth our ever-poputar Pre-camival carnival and Steel the Show youth steé band event. We also hekd a Diamond jubil street party on Womington Road. This was a truw i4rful evenl and all more kx)ignant giv the sad new that folbwed just a courAe of montrs latu. We We all pleased that this yew we e able to have a rN)tmal Chtisbmas! For us tt)at also meal our Together at Christhas Parties, ttN5 ycar with foc*J ccokcd scfftd by stsff from The Ivyi thanks to The Caring Foundation. We rId Parties in Ntitting Hill and Chelsea and On again we re atrAe trj bring a bit of magic to SOMÈ of (Kjr fanill@s w1 can often fed that magic is mi55ing frcyn Iheir lives.
VENTURE COMMUNITY ASSOCIATION Trust•e< Rwrt for thg year MIe 31 14)h 2023 This year V (ebrated Eid and hdped at a CCIurmty Iftar. We a big, noisy. fun-filled celebration at the Ventwe Centre and year as 11 as ValentiNe's Day. we also helped at a Roast and a Toast and a Tcyther as Cne cdebratw of World Cultures Day. On a quieter note, we held a Wellne&% t>ay, to complement other health and fitness lated tivItits. It ha5 been another entru1 year but one Wtrre ¥ hope we have supwrted and ontertained all of our comrnnis and help&J to make it fed in some vfay that we are all in this together. It IS only by coming together that we ca) acliwe anwhing, so. as ah¥ay5. we are incredibly grdtefvl to all our partnus fUnr5, wthut whom no c this trUld be possibte - The Royal Borough of Kensington and Chelsea, catal H¢3using &oup, The Trust Fund, Young K&C - Lancaster YThJth Hub. The L(dOn Ccwmunity FOldatI¢0, Nalional LottW Heritaso fu1. Kensington & Isea knial Couwl, John LY,5 Grant arKI othff Smaller 01 l also pay tnbute to the tireth of the staff. Williarn Roberts as trector, continues to provide great drive and lthlership but he is extremely well suFwrted by an excdlent Senior Managernent Team. Pattrina QuashE-Ferguson as Head of C¥eratior4 arvj Iyd) Zkirstos as Head of Finance. H(Mprfer, success is dovm to a great team arKI all the staff and volunteer5 have wn thernse to t* just that. I also want to thk my fekn¥ trustees. have hdped tr) pn)vide the oversJht and guidance that has helped the Venture Community A55Kiation to fro strength to Strength, whist stswrwj tnje to its puryx>se at the trart of our commurNty. It 15, however, to our cornmunty that we owe t greatest debt of thanks - because we are all Venture! Best wlshes Gillian Kleinert Chair of the of Trustee5
VENTURE COMMUNThY ASSOCTION Trustee< Relt for the y1 ended 31•t March 2023 The trustees &Yesert t1r rew)rt aTrJ coUnts year a%Jed 31 March 2023 vA)th are also prepared to meet thÈ r4u1rents fcy a direttors. rep(xt and accoLrts for Companies Act purposes. ThÈ xcouDts have been prepared in aCcOrthn V¥h the accounting pdicies set OLtt in nrte L to accounts and comply with the companvs MOranrn and arbdes of asK)ciation, the Charities Act 2011, the Companies Art 26 and Acccunting and ReF()rtsng by Charitie5: Staternent of Recommenthd Prattice appliCae to charties weparing their Kcounts in accordance with the Financial Remirwj Standard athKable in the UK and RewblK ( Ireland (FRS 102), effectwe I January 2019. REFERENCE AND ADMINISTrATM DEfAIL5 OF THE CHARrrY, ITS TRusfEES AND ADVtSERS TrUSk who ha¥c seryoj frcth L5t Pw"12022 to datc c( d&cntS {aThJ as members of the Mwment C{rni) a.. Gillian fchair) Adam Fergu5 Cl rEa5urer) KArina Skinner i50n Sage CcAin 5mmon5 HLV Walker ICo<hair) Nicole Eelfon ApwiniL¥J Apww)ted Apwinted Apwinted ApFointed AF1ft¢ed Apwts)ted OrtotrEr 2014 Y. Deomter 2C115 24th Ortoker 2019 16fh CktoLv 2014 Jure 2017 26tl March 2015 14" May 2015 Senlor 57afTr. William Robert5 lycb Zkwstos Paitrina Qu*k-Fergwi Heaj crf FknaKe Athiis•r AltorS Knox LlepFa LLP 65 Leadeth311 Street London EC3A MD CAF Bank Ltd 25n9$ FWI Avenue, Kings Hll, We5L Mallir4r Kent ME19 4JQ Penlnsula &Jsiness krv (HR afid Safth) Riverswje Baity Stteet Manthester M3 5BD
VENTURE COMMUNrrY ASSOCIATION Trustff< Rep(rt tr the year ended 315t Marth 2023 srRLICTURE, (a)VERNAIICE AND MANAGEMÉNT Trustees are recruited through a [CeSS of sdection and deCtI as outfined in constituticn. The process invDlve5 nomination of potential TrLtstees from the membShip base. Norninees are then elected at the Annual General Meetirv41 UP to ten Trustees tr£ ected to the PA)ard Sn year. From tirne to time the E()ard of TrLtstÉes Cthe Bodrd) inwtes new to join as CcpDPtees. Up to five indiwduais a year can co-(pted onto the Board. All trustees receve an IrKluction pack which prwdes infomatDn ab)ut the roles and reS[K&bIlItieS of Trustees. They a also invtLed to meet wtth t£ "rectOr and senior staff to undtrsfand more aut the q)erabon of the C¥TtsÈ. TrUSts are invrted to partlcipats In a range of trainlng erfents OryallLd ty variws umbrella tx#Jies. The Board G resrx)nsiblÈ for overall govern. It is a150 reSn5&}1e for keeping Fan(la1 records whlch dlOSe the finarLial charity. The Board consider5 recommendabons frorn two wcOMmIttee$, nan arKI Income Generation arKI CornmLmity Develonent committees The FInar and Incx)rre Gweroiion CL¥nmthe ObEr income ar eXpdIjre acroks all area5. It knoks at issues ar(nd fimnckil contro15 and furxlrasiry. Tre Treagjrer sits cm this Committee and receives report5 fr(¥n the Directy and tr Head of FirkirKe. The Community Develryment Committee kwks at development acb'wb'es in all ath'vity areas ot the Ctre. Tr core are4s are Chiklren èrKI C(¥nmunity Cevelopment ServiTr5. In the Children Services, it will ob5eNe viceS and rmiect5 in relation to Children, young peorAe and thelr familles. It will monitor Health and safety. Safer Fiecruitmrt OfSTED Registration. CF¥'ld ProteLtion and aid In implementing and vieWg g(jrnent wlicy and proTrdure for assCQ4tion. The Adults Service5 will obseNe the and fllItatkn of a WI rangÈ of aCssIble educational and recreati(1 actiwtie5 and Informat for indiMduals grwps aThl communities. The Committee works with the Head of OperatA)ns to mOrlor cortrKts and at innovative way5 of xjurcing funding. The day-trday runnir¥] of the wganisation ar¥J finarKial marwgemert is delegated to trec ) reports to the 01r of the P)r cf Tru5tee5. 2.1 statement ffi Risk The Trustees have examinod the mapr Strategic. and OPeranal rfsks corfirm that systems have been established that the necessay steps cèn be tzken to cortrol these rtsks. The main risk5 for thi5 financial year and lJ)e mitigation anS are as follows: SSgnlllcant rwt gnlflcant reduction in fuThalrvJ k)ss cl rccrfn hlre Ire contin to d0p fundraising to Incy6 a1 diwer5fy Sou L fundirw> of core funding. furkjiry for an income gt)n sp.811st tD dk iyrnrcial and s50r51mp irKDme. Use locallons in Kengwton Chelsea to •yrea ts1 of trusi funders with our gecrfjraphtal crfterfa.
VENTURE COMMUNrrY ASSOCIATION Trustee< Report fw the aKled 31" March 2023 iTh1Nklual gvir¥J 5tt7tegy to uxrease rnarket rTrJm hire, aygrOUrKl hi and faalIt5. ensure tDtsI COVKI compIsan to erwjre are safely avaithk for hYE. SafeguarclNJ rLSk of thihjren a1 rrable adults POIleS and pttedures in Fla,. staff and untÈEys all have ertnced DBS dearan. safer IrUthnt Prtt5 eMLdl. st8f and ¥Untee5 tra1 to stxt i55ues and to deal Tth ddDsU. rrylar physKal health and safety cws of t•Jldings and pOUndS. Al trosiev an enhaFKed DBS for safe OBJECTIVES AND AcrivrriES FOR THE PUBUC BENEFIT The obJ"ettive of VentLwe Ctrnmuntty AslOn (VCA), as define(i in ts goveming dMent, is to pr(ote the benefft of the lnhatsnts of Nijth KS1 and the neighiN)urhood. The Centre works wth the It¢31 authority, ststLrtory prOve[S and other vduntsry sector organisatilN15 Iri partnership to rdieve ty, athance educatKJn, arKI provrde fIlitieS for recreation and leisLJre In the Snterpsts of Sal wdfare, with am of Imwoving the conditions for resi of North Kensington and the rdief of txxvty of the inhalitants. VCA also provlde5 play a1 (thr thlthes to educate chlldren and Yn9 resldents those who attend schojls In North KeTrsngL to develop ther physi(Bl, mentsl, and spiritual capacities so that they may grow to full maturity as indNwJuals and as memLErs of society. To achieve its obje(b the orgarltsaticn does fdl¢Wd1.' - prOvtsk faolit&'on of a wde ra[ acce55iL4e edurational aT¥J re(ational Ktiwties arKI inf0Mli( for individuaL5 wups, communitie5 hosts and partrer Organitr that ddNer comerentary initialive5. provldes a fr1elld and safe enMrOnMt offering support friendship. ganises a I¥etter and opp)rtunitEs f CDnsultab'on wtth our rnnberS aTr kxal re9dcnts. ides an 0 athntUre ty9r(Alnd and complemcntsry enrichment ogramrne to enale your¥J (Ae to thrNe in all areas. To thieve all it sets out to do. VCA wtl cltinUe to w(Yk in partneIp with sfatutory. voluntsry and (CUnIty orgarisations to thvelop InvatiVe which allow people to come together In ed(KatioTh. leisure, and reueation wogramme& The Trustees confim) that tlw have referroJ to the gUKlar corbtalned in the arity Commissoon's general guidance on wblic befit when thewirKJ the chdriV5 airns alld objective5 and in annIng fLrture 2£tivities. In particukr the Trustees cOnser planned actmties contribute to fjJlf1lmt of the charivs objettP5.
VENTURE COMMUNrrY ASSOCIATION Trustee¥ ReNYt tr the year 315t 2023 3. 1 Mi55ion Statement The mrAon of the Organisath 15 to pY0ve an improved qualty of life in which Ial people, IrrpectIVe of age. gender. Sexual orwtation, atmlity, pditical, relKJious or other opinion, are encouraged to come tCJether to access a wide rar of opForbJnities suprrt. to rve ds, and to deveknp aspirat% ACHIEVEMENTS AND PERFORMANCE Introduction LJring year endiThJ 31st Marrh 2023 Venture Community £siaton continued to deliver and evelop f prcgramme of ay, leaming and ets. The main areas oftharItate acttwty ContsnL to arfAl1 the prt)vlsn of COMMrtY developrrEnt initiatives, community learrtingi communty everts, LEing a resource for the l(Kal community, and providing opplytunities for chddren to play aCr(S the Royal F()rwgh pf Kensington and Chdsea. 4 Community Engagemertt PrograrNn Our comMLlty engagement programme contsw(s to VY) to foster mmmunty cohe5n by delivering a SL¥te of acknwtles frjr children and adults arKI families. develorkd in pathership with local residents and oryanisation%. Our a)mmunty engagement team has in(Tea5eil the nurnber of meety"ngs, Idenknfying that a comprehensve prDJramme integrates ffve essenlial components: he3h and wellbeing, events, physical iwty, knrnirKJleducation, and infomiationlsignposting. We r*ed a strong focus t)n fostering partntsships c7bati effort5, and resou shariw. Cofflmunlty CarnNal Arts Prowamme This year we telebratE(1 SLKces5 as njnners-up at the C4FfA Nurserie5 Carnival. We held three outdwr camival evtnts in north Ken5ingtw and CSea and celebrated young mustclans at ste youth Steelband. Food and Support Servic¢5 We continue to operate iwo weekly forA bank5 in North Kensington and Worfd's End Chelsea, bdstered * a551stae from NuCLE Advice, Citizens Athri SeNKes, and Chelsea Community Chammns. TFk5e fcth banks crnsiwtty aid over 200 Feople every Vk. Athjitifflally. ow Meet and Eat sessvMs gather approximatdy 41>50 ldt& These sessions are unique opwrtunities for community Mernt to a)gage in casual conversatims (ver lund) with a vèriEty of professionals. This diverse group of professonals indudes representstives from sc(ial (are, adult leafning. the MetroFditsn PotKe, NHS, the Natural HistrKy MLLseum, RBKC, Westway TrusL G01bne GPS, Social Prescribing Link Workets, and Community Living Well. This initiative 15 designed to pThide easy access to 9JPkX)rt sermces in a fn"endly, commLmal seth"ng.
VENTURE COMMUNITY ASSOCIATION Trnstees. Rep for the yw ended 315t 2023 Tog•ther at Chri5tsTras In collaLKsratFon with the Childhood Trust arKI the Carir¥J Family Foundation, we oryanised our yearly ot thristmas" event. calerin9 most vulnerale famiks in North Kensiigton and thelsea. The eVt tyought y)y to 60 familw featuring card rforManceS cn steelpan, a festive Chr'LStmas lunth courtesy of the Ivy ReStranty giPs for all, aTrJ a warm wnter COBt for every child. Learning Lab Our commitrrtht to nuthring the education of thikken and YO3 pwple remain5 St&last, offering mt Just aCadern 9JPPYt but atso a diverse array of athvities to foster essential skills fcf thdr econclC pr05Ferty. This year, our Leaming Lab inib"ative has eypanded to encompa a raTrJe of artIvles, 9Jch a5 Homework AssLstsnce, a First Aid course tsilored to children and young people, a Ctsling cith, Yoga sessrons, a weekly C(y)knng Workshop, the Saturday Drama Club, and a Saturday Phonics dass in cdL3tThbon Yth Real Aclfon. Communily and Adventurt Play Stes Our commlmity and adtu aY stss in RBKC &e (kdicated to offenry a taik)red range of attivities children and yOLN)g pewle, cwstsntsy evthng to rneet their need5. Trese faalities. led ty thp children's interests, ther an eXtve array of xt1v1es. The growng popuLirty of service is ovklent, as our atten(iance irHJea5es. Operdting seven day5 a Yk during tem time, o sttes provKle (Ner 35 hcmjrs of PLay recreational acbvttie5 weekly. Additionally, our holiday prc¥Jramme InclLtdes 12 hours per day of pwimc, cOmpte th breakfast clubs that gin at 8.15 am, ensuring that children have opportunitses for engage[nt and fun n a supwrtwe vironmenL Summer Residential Thls year, a group of 40 chli dren accompar¥ed ty 6 staff members embarked on an exating four- day, thr-night &fventure at the rerK)vated ng5wOod Grosvenor Hall in Kent. During their stay, the children in a Vety of sbmulating and exlucatiorkil acbwtie5. They learned the art c¢ dÈn-l)uildingi honiry their creabwty and teamwoth thlls. In buthcraft sessions, thev explored sumval tethniques arKI connected 1th nature. The obst3de course presented a thrilling challenge, ffKouraging physlcal fthe55 arKI res1. Additionalw, the trip inclLKled variDUS tru5t- building exertises essential ftir fostering c(x4)ation arKi mLkual respect bet4Yeen the children. These activitie5 not only provided fijn entcrtainment but also played a crucial role in the children's hulisbc devdopmenL enhanang their problem-sdving abilrties, communication ski115, and 5elf-confidence. This memorable trip was a of leamirrfj. thre, arKd personal gTh¥th, offering children a unique and enrKhiThJ experien. Apprenticeship PrDgrdmme This year. throwh our CdIarakn Tmth the R8KC Economic Depment Team, we successfullv ovided residents with x-mcth pad plKeynents. Alongside these placements, v* also offed a series of trainiw opkx)rtunities, whith i1ded Level 2 $]nesS and Athinistration, mu81 HandlirKJ, ftrst d, Weguarding, and Oats Protection c(wJrses.
VENTURE COMMUNrrY ASSOCIATION True< Rep(vt fvr the ar ¢ed 31¥1 M¥th 2023 Golborne Q)mmunity and Maternity ch0n5'. The Gjlborne CommLmty Champ5 pyogrdmme wrrentty ha5 19 active Cc¥nmunily and Maternlty Chamtion5. The Community Chamtxons have Yrked difigenty to transition back to fac&tO-kn and OLrtdoor activities ats the paeMic. We have aimed to tyovide as mony OPFthuniti'e5 as possible ta 5UPPCrft c(mmunity as It overcomes barriws ir6ecurib"e5 caused by Lsolation over the past year. We have created a programme ol actimtes encouraging social interattion and promotirvJ development of physcal and mental health, Moreover, the prc#Jrdmme aims to support public health camixigns and iNtiatNes to impr(we the health and wdlbang of reSIdts within Goltome ward. This year, we have ¢til to AJPtX)rt our commLmty through a dtver5e array of activrties, Induding major events, wbfic health ltiatives, aCtN'rties for post-COVID rgntegration, the xpanding VCA wogram, and tollalxrttion with partrEr orga[tIonS in the Golkome ward. Our activiti raryed from Box Ft E4)camp and Arofflatherapy to chair-based exercise and the Fashion Flin9 (a cluthe5 and L¥Jok swap evert). We also hothl comrnunity gattEriry5 like Meet and Eat even(s, Ekl through Art lebrationS, Community Iftsr, and tlk Together One eVt for Workl Cultural Day, wth KurKlalini Eknarna Yo9a. OLr Maternity Champions offer Stsy and Play, baby massage and MumrTTy Move sessi(. Atemative New Yearfs Celelyation arxl the KSO Connectir¥J event were espallY organed th help pery)le adiust to Itfe after the pandemic. A crucial a5PKt of these events was to engage in conversatS Yth residents hesitant about the COVID- Lg vaccination tD addre55 any [9nfOrT0n 5urrwnding the vaccine5. F114ANCIAL REVIEW This is a of Venture Community Aggoriation's financial rert for tho flscal year endlng March 2023. This snap5hDt prowdes a glimpse into the key financial hhlIghts and perforwnance Indicators that y11 be detsiled in the compreFwie alt rerL This financial year have a par14 thallengi ar for wr charity mostw tXQU5e of tr tough economic uwlronment whKh resulted in decreased 1raIsIng incorne. Venture Communty A%lat)n raised an of £785.201 (2022.. £1.032.235) of which £720,982 (2022: £986,161) carne ftom fiJrxjrarry tD projects and playground acbviteS. ExperKlitwe tr the same riC was £927,374 (2022: £954,953). Thereftye, the net figure for all restritted and unrestiicted ndS shows a fIcIt of £142.173 (2022: £77,281 Surplus). Hcwever. the deficit Irrred unrestricted fund actiwties was £50,240. Therefore. thi5 is dedutted frorn the reserve balan of £214.617, a baknce which was brougtrt foward from the previ6 year. Thi5 resulted in unrestricted funds ending ballce cl £164,377, LEing Caled ft)rward to 2023124. A c¢)mprehen5i¥E review cl our fijndraising strategy to Klentify ar&3s for improvemen¢ dlvers1ft10n of revenue SQLrces, aTrJ adjustnEnt of in lit with current ecOnnIC conditions was done during thls firkincial year. FurthemKYe, we continued to work hard on our Icry-term fU1rais stratw. Teth, we are seeing encouraging results in this flnancial year. Although there were reducts.ons on our iicomes from fundraigng, the income from trading acbvies SLKh as room hlres did show son irnprovernetts. A5 a result the cost Lurrtainmert measures to redLKe our overall spending, the propc- and actmties eyr)ditures InclLMllng staff salarles v4ere in line the dget. The increase on ex[ture was mainly because of expenditures on office and occupancy costs gjth as light and W atKI irT5uiarKe etc. ID addikn to this, we manged to
VENTURE COMMUNrrY ASSOCIATION Truste R•port th• yoar ended 31" 2023 upgrdde OLY rr to ttr and cnFIeted a telepth(+e system upgrdde to all the cÈntrÉS. All these comflned have resuW in an increased expwNJiture for the ye¥. We ilre atsful for the continued sU)rt of Royal B(L of Kenshngton and Chelsea in prowding us core furKfing vétich is key to atlTacbrvJ ne %)Ur of inco. Of the gRntslcontracts by Verure CnMunity AS9xIati for pwsuing rts charthl actiVitie5, the chief Sour of furMlin9 was the Royal Borough of Kensington aTwJ Chelsea (£605,721) tylhich continued to be the main Sour for childrw's Se, CO costs and otrr community engagement acbvities. The remaining grats received in thi5 financial year were summarised as follows: C3talyst Housing Group £36,544, Tl Grove Tnjst FurKJ £20,000, Young K&C - L4Ster Youth Hub £15,760, The London Community Foundation 115,OtA), Natiorkil Lithry Meritage £10,000, Konslngton & QElsea Soaal £4,933, John Lyon'5 Foundation £4,CQO and other small grants whith totalled £9,025. The main experKliture fvr the OrganisatK Wds on kXDRrt Crts ft)r wowding 5wvices of Venture CommMIty A&qxiation to its user5 {£927.374). Servi5 and aciiwtie5 are 5ummarised in the report identified in Note 4 to tre xcwnts, namely A(fventtJre Playgmund, Community CentsE, Educétir)n and Learning. arKi Arts and Culture. The Board has been implementirM] fts financial strategy recovery rAan 4vith a renewed f5 on inuoasing the fundraisiTr] as wdl as an ovexall reweA4 of staff costs arxl all othw running COSt& 5.2 Re5rn5 Policy The Trustees annually review the Iwel r@swve5 th ¥%ill eae the tharity to copÈ with specif ynfDre5¢w els, COntinnCle5 optthiniljes. It is the rr11cY of the charity to aim to ensure that the Lmrestricted fijnds are at a Ver tlt is 4)proxmateW three of tttal projected running c<)sts. The centre has now inueased its attmty ggnificantly. Therefore, the amount Exeviw51y 5t&ed for thi5 is irKreased. and the level required going forward is approximate £160,000. The reserve5 will be used to enabk thwity to continue operatsrbg when there is a temwrary or partial cessation of fundirrfj. UnrÈstrKted re5ervÈs & of 31 March 2022 is intased to £164,377. The Board is hrknng Yth tr dlrecror to ts finarKial p05ibon. PrryJre55 will be monitored by trE Finan CmimItt and F4)ard re9Llarty thrThJghort year. LEAVERS AND STARTERS VCA Trustees recoinise that staff are the m05t valuate a&set of the Comrnunlty Centro ark therefore fully appreaate thc commirnt and de(iKation shown by the staff ift the provision day-to4ay seryices frovm the Centre. We said 0tye to Amina &hablA, Chunekshl WimalagJrrffi• hhn Hoklen arKI A)rdan WakntL Some of these staff started their first emkloyment at the centre and we are extremely happy that they are continulng to Fxogress t1r career. We also blcomed Mosh"n "tbal to the rttre.
VENTURE COMMUNrrY ASSOCIATION Trustse¢ Roport tr the year •Nled 31" 2023 FLifuRE PLANS The Covid pandemic resulted In vcyy great charvje for ventu Ctxnmunity Assoaation. It bmught many new cpportuniti. new relatsonshlps PashipS and it has x)wn that we can be ile OrlSatiOn, &le to &Nvot armi at Srt notice. FO support has been a major part rf sepétr orrer stnce the paTrJemic. We are not a fo(x bank crganisatKJn, tNt we know that by meetirKJ f()d inse£urity eds. we can bulld the trust of Some of our most vulnerable residents. With this trust atKI their physic pnce in the buildin we will continue to devthp our Y(KKlbarl( plu< mLxld, which seek5 to help people to address some of the undedwNJ issues that Ixought tD rEÉd ftd 5upyorL By tuming OLf WÈdnesday fo&lballk intu a c1mUnity Meet Eat event, wll continue to develop an opportunity for our communits and supyort serwces to Con t<yJether in a relaxed and informal ivay but cre in ich trhnsfomabve [(Kwerlo5 can We will therefDrp ixjild on OLW partnership with debt arKJ welfare advisers to owratr Centre. We will also work with DWP, RBKQ hougrrfj assl0t10ns and others that on help to g)Ive prrkjlerrs and move ople'S live5 forward. We will continue to develop 5e05onal wograMM rf actimties to bring a wde cro55 5ettion of our community togetr. Using our Commurrity elopment Team and our Chiléren's Development Teém e will (tinue to discover what peop %Uld like us to offer and find the peOe and the money tD rxjt on activibe5 & no c05t. We véill a150 seek to make more of our hstw alatthi with Camival and ¥MII find more optxxthnities tr) prcwide pQrftrMan QPFQrtunitie5 frx our wb-hou5e eel band (Gli55ando) as well as QPFKJrturMties to bring m(Ye Feroe to CJnival art& CJr communities have jfferQd a lot in r&ent yew5 we ore rM)w faung a o)St•of-living crisi5. Our focu5 wll P on recovery- recovtry frlyn Cowd as ¥1 as gcng r£rovvy from the effects of the Grenfell tragedy. We will 4150 extsore ways in ¥%thith we can offer suprt during this cost-of4iwng cris offering a of wamith, for exarnke, to those who can't afford to put heating home. We Mfjll cortinue to dejiver tsFline t1thes as VR krW that a y*Ie gr1p of reople are able to acce55 Venture Centre that way. trAJildiThJ on ow Virtual VeThtu¥ Cemtre - vventure - and throu funding we have Svred to tranth our rr iTrfrdStrture. we are exated about the ssibilitr'es of rfFering both in-person and online Ser and artNities thich will make us even more accessitle to our c(Mnrwnity. We have aws faced an urKErtain finarmial fvture, tArt we will ccffltinue to diversfy our lines of income, partycularly vka our buildings an¢J faolitEs. Our fijndl9n9 5tRtegy wll continue to seek fijnding from tnjsts and foJndations, and we have invested in OLrtc(yne software to help us bLtter monitor thmonstratc the difference OLf seThi¢es make to our CmunIty. STATEMENT OF TRiISTEES' RESPONSIBILrriES The Tnjstees (who arÈ also the éirector5 of the AswciatKM for wrp05es of company law) dre reswnslble for preparing the thiual Re4 and flnarrial statements in accordance with appllcable law and UrtiLEd Kir¥Jd(¥n ACcOting Standards (Llnited 'ngdorn f£nerally Accepted Accountiryj Practice), induding FinarKial Rep(¥tng StatKJard 102 Tr Fill(la1 Rewxtwig Stsndard applicable in the UK and Republic of Ireland". CJ)mpany law and the law plIcab tD charitie5 in EnglarKI and Wale5 requires the Charity Trustees to prepare financial statements for each financial year which gp•È a true and falr of 5tatt of 4ffr4ir5 (< the Charilable cpanY of tts incoming 10
VENTURE COMMUNrrY ASSOCIATION TrUsttr Rep¢Mt f(x the year •¥led 31 Marth 2023 rescwrces and apiCatsn d restrS, itKludlrvJ the Income arrtl eXperKJire, of the Charitsble Ccffipany for that pEri¢xl. In preparing these financk81 statements, the Trustees are reqUId tri'._ select 5Uit&Ae accounting pdicEs arKI kn apt them conystendy. me Judgements arKd estimate5 that &e re¢StJnablo and pnJdent; state whether arvllca1e accnting sdardS hève been followed, subj'ect to any material departures disclosed and explained in the finanoal ststenents: and prepare tt firbancial ststements on a g(Xry rACeM basis unkss k is inappropriate to pume th4t Charitae Company Y•ill otinUe Lo Opyfate. The Trustees are restx)rLsitrAe ffx keeling &ccxJnting rffords whith disclose vith reasonable ccur4XY at any time the finawal position of trt CharftabÈ Company and to enable thwn to ensure that the financial statements compY bmth the C(rfnpanies Act 2006, the Charlty (A£counts and Reports) Regulafions 2Cth and thÈ provi5xxG of the Memorandum and AthÈs of ASoabon. They are also responsble for safeguarding the assets of Charlty and hence for taking reasonable Steps for the preventi( and deteth'M (( frwJd ¥#J rther irregularities. The Trustees confim thaL in the case ( eth Df the tEr9)ns a Trustees at the date of thi5 ert, the followlng ¥plies: _ So far as each Trustee 15 av12 the is relerfant audtt Infomatic {information needed by the Ch"table Ccrnpty'5 4LKliiw5 in with preparing tlir tÈWrt) of which the aurfrtors are unaware," Each Trustee has taken all Steps necessary to make her5elflhimself aware of anv rdevant audit inform&lon and to establish that the Charitable Company's auditors are aware of that infcYmati(n. Thi5 wa5 apF¥ed ty theTrustees on 13" Decemtr 2023 J)d slg)ed lry order ofthe P•)ard: By Orts of the Trustees (lian bkinert (Chair)
VENTURE COMMUNrrY ASSOCIATION Independent Auditors, Report oplnlon We ha audited the fiNAnoal #atements cl VetUre CcfrThuruty A55co"athJn foi the year en 31 March 2023 whKh co¥npri5e the StatthEni d Fwiancol lj1ng tt Income and Exrenditure Account), the BaLan SW the Stat&t of Cash the Th)tes to the finarrial statements. iUdI 5umrnary of significAnt aKountillg The frrk Ihat has tten appli&J in the pieparattoft ks eppllcable law Untsj Kiwkyn Ac¢wing Sdards (Unit1 KirKJdL)m GerallY Accept1 ACCO(rttThg Practice). I1lIng Fina?1 RerxrbTrJ Standanl 102 Tr Fkwncol Rep)rtirKJ Stsndard applicable the UK Republic of [la[KI.. In Jr opinion the finala[ 5takerTEnts.' give a true and fair wiew the state c ch3rrfdble afair5 a5 of 31 March 2023 and its income arKI eXpertUre, for the p1 IJ eTKI&; have tken prottrty preired in wth Unli& KwJ)rn Generally Accepted Accwrting Prartre. ddIng FInCIal RcrthirK4 stard 102'The FIrban(l thpDrtirNJ Stathyard ¥pIlb in thE UK armj Republ d IrelaThl arKI have ien prepared In acCOrdae rrnits cl thc CpleS Act 201X>. Use of our rep rhis rewt is made Solety tD drIte cunpJy's nkn, as a trx>fy, kn COrdar(e with Chapier 3 or Part 16 of the Comws Act 20U6. Ir aLKft VK¥k has teen urQwtaken XJ that nght state to the Charable comp,$ mem5 those matters wc arc rcqured to state to thn in an audiiw5' rtFort awvj for no other purFTh"¢, To Ihe fullest extent law, we do nc¢ cept ttassun re5tx)n5itslity to onyone other than the (hartst Ctsnp)ny and OhiratrAe Q)Mr5 ThmbS a5 a ty, for our autht wDth. for this repLYt, or for the ha4 lorYnÈYJ. Condusi0Th5 relating to lTIn In aLhJiting financial statements, we hab? CCrfded th Tri use the Co[n basis of accwnting in the preparation of the finanaal St&EM is awrtyrwe. Based the work have Faf0Ml, we not ithtified ¥ry Mar1 nrtaInt$ relatlng to everts or wd1ti0r that, irdivKlualty rff lleCtiV1 may cast ggnrficant (S>Jtt on the tharitable company5 abllily tD ntil¥Je as a gopwj corKem for a perth1 of at nKrths fvryn the finarx?o15tateJnents ar¢ auttrJrL%ed fDr issue. Our rff4011x.Irtle5 arKI res¥11 Tn6ts Wth rw to goirKJ are ¢5cribpAI in tk¢ relevant s"0[ ( ttxs r4 Other Infwmatlon Thc other infomatbn ccryr ttre infom indLthI the RepNJt Ihe Trust. other than tte financial statents and Lr aliC<S rem yrn. TrTrusts rw3P(¥LSibk for the ots informakn. Our opinion on flnar£ial statements does coNv the ifvmatbn . exce0 tyj the e)rtent Othee pJF4iciily #ated in r Tew¢ The th) expr any frym of assura¢ ryMdu5ion thereon. In connection our of the fina1 Staten is to read the ottw Informatb and. in doing so, mr6Kler the rther inforrnation is materkity irK(rriStent the financial 5taturEtts, lx our knowkdge L)xa1 in le Cherye aFfr5 to be rnrialty mi55tst&. If Idenity such materlil incon5ierKE5 or apparw material MateMents, we are required to deteIne hether ttEre is a Maal misStat£YrErt in a material MiatsMert of the otr InmatIOn. If, bas8Y On have rerfc¥nBJ, we colle tfrae is a mat1 miatrnent cther IrtsMaty VK are to repxt ttBt fa(L We nDthirwJ to tewJrt In this rewd.
VEKfuRE COMMUNrfY ASSOCIATION Independent Auditor< Report (continued) Opinion on ¢xh¢r matrers prescrhed by the Companles Att 2006 In our tsplnKJn, based m the w(Kk undertaken in course the avdrt: infomiation gr in tr fiepDrr Df t TrLth, whth indude5 the diror5' rerxrt prepaj for the of cornrry knv, for financol whth the fina)Cial ststements are pParLI ccr6iSteni with financial St&Cryrrt5". arJ d1reLto. retx)r¢ 1Cd t the Trustee5 ha5 been txeparcd in accryd)ncE wf(h applicab legal r6wiremehts. In the Ilgtrt of tlt knedgC ar uthstaTrYiThJ of I ChOrtab C(ynFony and its cmiirmment obtar I the owjrse of the audi¢ have t rnater1 miSststwts ir) the Repyt of the TrL&5. We have nothing to rewrk in res of fDYrydfflng rrkitters in rrlatw tp Yth¥th the Companles Art 2(Y)6 requires us io rer¥)rfc to yw rf. in our Ofd"n¥)n: aduate accwntiThJ r05 have Kjt ten kepL w returys our alt have not teen rreI Lranches rt ted ty us,. c fThnckyl statanents a nc In èjreeft th acccwnurrfj records and retwns. or rtain dSUre5 ofTrusLees' rEmUation spxif& by Liw are rnade, or e have reCeTrd all the ffifcfflt10n expn$ we requirE for Dur alft. the TrustLES were entItd to Weire the fa1 statements in aCrrXdan th tre srnall companies, regi and tske ad¥ant¥Je ¢1 the g)N41 exempthy) ftM the rulment prepare a &rare Repcrt or in kYepariryJ the Report of the Tree$, Responslbllltles ofTrustees As explai mtye fvlly n the Ststunentof Resp¥Jr&tx'1th5, the fru5LE {Y¢FK) are althe dir[5 of the Chaitat4e CoffKony ts the purFoses of company law) e reSnsIble ftir the preparation of the fitha1 statefflents and for bng 5&isfEd that ttry a true arxj fair view, arKJ fDf 5LKh intemal ntrol a5 Trust5 determi is n&res5ary to pre[wi ¢X flna?1 Stslwts that are free from material misstatem( d to frawl or errcf. In epan9 the financbal Slafrments. the Trknstee5 are re5p)n5ib a55ESgng ttrr CoMY'S atM'liLy lo Cont1Th as a golng ¢OnCern, dFAosing. a5 apylwA. matter5 latj ttj (XXKern and using the goin9 concern toslsofac¢nty.ng unle55 TnJstee5 inthi to Iqukjate the ojroanyor to cease operatr"on5, or haNt no rEalth alternative txrt to th SD. Auditorfs responsibilities ft the autht of tho fmancial slat•Mt Our obJeLlives are obtain reag)nable assurarKe at)Jt the financkl slaterrErt5 05 a we a free frrjn materbal mE5tatunrt whether to fraLKI or errrx, and to i£sue an aJdrtDrfs repyt that indude5 our Dpinion. Fleas0e assurarfe is a high OraTaKe Is gLklRrtee that an audit condutted in corae wh 1&45 (UK) wll aKYays ¢Yeiect a nter?1 miss>toM when f£ exists. Mi%rarements can arÉe from or error and are (rm5idered maknal rf, irKlivuallv or in the gregate, tfv (Duld reasonably be to InflUee the ((r6 of users taken the baS of t1 financsal 5tatrnts. Irregulaiits. indLk1iNJ e InStsn cl non-c(xKE Vrfth laws rUl&ln$. We desKJn prc(e(lures In Ilne with our rc5wnsbi i11t5, oudined at•M. to de merial mi55tatements in respect of irffgularitrs, In1KIrj fraud. to whh our prOcvJUr are capable cl éetectlng Irwularikne5, IlUdIng ftaud is detsiled tth.
VENTURE COMMUNrrY ASSOCIATION Independent Auditors, Report (continued) The Charftable Cc¥npany fs fequlred to wth ccmpwry taw ar•J ctrorlty law as applKable ' ErykirKI arnl Wabes arKI, tosed on wr (rf it5 tKIt the kgal ulrement to accura12ty account for re5tr(ted fuThts was cl key wJnfftarKe. We gairJ an urnfjerstanding rf Iw)v# Charitab company CfAnpld with its legal arKI fegulknry indudiry the rquirement tD xtount for restred fvrKls. thr discussfv)r with man&plt aTrJ a rewth¥ of the (tal wrx&ure5, aThJ trolS. The a[l team, is ex[ttd Sn alIt rf Chari. crmsKler8I the charitsbbe compan5 9jPt1l1ty to mrlal MISStat lthv fra1 w c(cur. c(thleratths indudèj "r. cwnted to ersure ttot ¢ty valkl aThJ aryoryte cAlture wa5 drged to restrthl fvn(ts. Thls IrKI reiiemrrfj purnal alUStm arxl Urmtsl tr3n5lnS. A further dexT1ptft Olr resF¢xNtslits fty aL1t Lrf fin(la1 statfftnts 6 kxated on Flnancl Rewtir#J Ctyjrril's web9te at.. . This destt1>ti. forn part of our Rkhard BllllrJhurst ACA (Sery Ststutw Audttor) For aThY ¢)n bthlf of Kwx LLP (Ststutory Alr} 65168 Lethhall &Teet 19 December 2023 14
VEKfuRE COMMUNITY ASSOCIATION srATEMEKf OF FINANCIAL AcnvrriES (IKlwling the Incxht & ExpÉTrthre A¢£rnt} For the yew ended 31 Marth 2023 2023 2023 2023 Z022 2022 2012 rlths Umestrxted Restritt rrtil Unrostricted Rthcted Totsl DatiOnS and 136,292 L36,292 IS524 155,824 63.805 s3.5 46,071 46,071 Charitable ActvEs 2 584,64) 584. 830.337 830,337 414 414 Totsl 200,511 SPA,6 785,201 201.898 830.337 1.032,235 Expenthture chantle Actp4rtie5 4 2,751 250,751 676,623 676,023 927,374 121,396 121,396 833558 833558 954,954 954,954 Total 927,374 r4et tncvmel (ExpEnditure) (50,2401 (91,933) (142.173) .502 (3,221) ,281 Reconciliatiofi al Fund5: Funds browJht fcnyard 214.617 91.933 X6.59) 134.115 95,L54 229,269 Funqls carried fonvard £164,377 10 £lfA.377 £214.617 £91,933 E306,551J The Statet of financ1 activ]eS a150 h the rtyu1rent$ Ir arHI e¥rre acrount undw the Comp5 Att 2(Kfi. All the refar& to attht are contynulrvj &1fv1s. AJI movements in thethtrrtvs are rdlected thmgh StateMt offinancial
VENTURE COMMUNrrY ASSOCIATION BALAP4CE SHEEr AS at 31al March 2023 2023 2022 FIXED ASSErs 13.585 8,836 CURREirf ASSETS 71,074 111351 182,425 69,025 287 329 356,354 ank CREDITORS: ATrntS falling due wthin one year 150,792 297,714 NEf ASSErs FUNDS: VI$ThICrEo 164,377 214,617 REsfRIrn £164 377 These aCcOts have been prepared in accordan wrth the speoal pro15 rc4attng to small companies Mfithin part 15 of the Compa$ Att 2. The financial statements vRre aprxoved ty the rflreLts on IW December 2023. Gillian Kleinert (Chair) dam Feryus Company Registered Number 2178614 Charity Registered Number ion115
VENTURE COMMUNrrY ASSOCIATION srATEMEpif OF CASM FLOWS For the year wmled 31" Mah 2023 Description 2023 1022 Cash flows from operating artivities.. Net cash provkled by (Ltsed in) opwating ivlt Cash fkjws frm) Ir)Vest athities: Intet Purchase of rKowty, plant and eqLlt Net cash provided by Iused} investing ocbvitie5 CharrfJe in cash and cash equlrdlts in the reF(#t' pericJ Cash and cash equivalents at the beglnning of the rewrting period Cash and cash equivalents at the er (* tr repytirKJ pericx 161,392) 414 3,922} _ 14.5 (175,978) 31,023 287,329 256,306 £lll 351 £287 329 Notes Ca$h Ih)w$ St3iaTrertt Note l. Reconclllatlon al net Movem In fvTrds to net cash flow from operatln9 Descrlptlon 2023 2022 riet incomel(expendlture) for t1 rertIng (as per the statement of flmndal xthltleg) Adjustments for.. Depreaati0 charges Inter (tncrease)Idecrease in debtors Decreasel(inLTea5e) in credito Plet cash provkled by (used in) optratkn act[tIeS (142,17¥ 77,28L 10,251 (414) (2,049) 5,978 (3) (50, 128) £(16L,392). Notes l Anatysls of cash and txh equlvalents 2023 2022 Cash in hand Tot•1 rash osh equivaleDts 111351 £111.351 287 329 £287,329
VEKfuRE COMMUNrrY ASSOCIATION NOTES TO THE ACCOUNTS For the year efided 31¥t March 2023 ACCOUNTING pouaES (al Basis of ACtIng The acrIntS havè Èe2n plr i) wrth knuntIj and RekKsrtibJ by Charitie5: Ststenwt of Prxrts applicafle to (rrti reparirxJ their acmunts in aCCordae th Fir•andal RetKJTting ndard apFlTrt4e li the LK Republk of Irnd (FRS 102), effettive l JanLWry 2019 Icharfties SORP FRS 102). the Fina¥ Reporting Standard ap1(ae in the UK and ReP1C of IrekThl IFRS 1021. The vertU CnMunity ASsla'0n meets the definition of a publ Inellt enb.ty Ltr FRS 102. Assets aThJ liabilrfcs are Initial recogni5ed at ht&iCal cc6t clr transxtk)n ¥abJe LW)less sbt& n the rer acccAJnting lIcK note. A5 indicated in rKrte 15 to fila1 Strtts. the Truthes aJn5thr that there we no materks UWLYtainty'es atout cws abil'ty to continue a5 a wing concem, Thereftxc, thc5C rinancial ststenknts contthe to t¢ Corn bw. The wesentstional currerKy of finarial statements 6 Pound StrdirvJ (Q. (b) Key Judgernents and lMateS nar131 instrL¥nert classifKauon The das5ifKatA)n cé fInCIal ir&T(Mnents, ELh assets liabilites, as'blc. or'otherf rwuire5 3ment as to whets all applKable cMJx•r a5 t¥35K are met. This includes the tyre of Investmert loan and t5 retsyn. The Charrty orty ha5 fina71 a55ets arKI Ik)bilitie5 cf a kind that Qualify 1C financial inStnnts. ThL e irknlly r(wriscd & transatticrf) value and 5ubsequenty valued at setderrnt value. Usdul lrfe of functKJnal The rernaln IKe OF dewedth 6 rtsfieJ by marktyennt at wjrtlng dite and, C rec£ssary, cPwrge adjusted 1rdIrJ. (c) Inrne Renue grart5 tD irKNnir¥J resources cfft eathr rf Ythen they are reEd or they tec re(eNatle. unk55 tlw rdate to a 5te future perirJJ. in vknrh case re deferred, Caixtal grdnts for tke purchase of Ted assets are creAlited tD restricted incoming rer on the eadr date of are TeNed or tLxome receNab. Illl other incoming rey)Ur we induth in the Staturent of Firwncial ArtPit (SOFA) charity is kgalty itled to Ihe Income arK1 the annt on ir quartJ'fd with reag)r0ble certainty. (dl In¥esImt tncome Intet s crgYit& to in tt year which it L5 l¥a (e) Flxed Assets Depreciabon is cakuLited to Arte mst of flxed assets a styabjht-line basis over the fij Èrcrt)omlc 1troe5 cl tIE ass&S cwcuned. LYfi equirn aTrJ oynputers a dereclatsJ VdriDUS rA one to three r5 I(¥1 on ttE rotwe of ttE a55et). FlaygrouTrJ 1myonts are (hr a thre&year priod. In short.tum debtrKs cYe4#tor¥ Debt5 are recconL$8J when the Charty is legalty "tIed to income ater 8rry perforrnan condiirns have trn I, the anThInt can measured reliablys and it is probaNe that income will te led. cltorS a recw WI the charfty Iws a yesent legal or constrNtNe obligatim ulting frcffl a past event to rth F4yThent to a third party. it 15 probable that settt will requred ar the anourt due ID sett the ob1vjatn (an te rrtsured ar eimated relbly. (g) Vilue Added Tax CA]MnY Is noi roJ&wed for VAT arKI xcThdiThJy, kne applicabk, am e4xndKure kiaErral inclusr cl VAT. 18
NOTES TO THE ACCIXINTS For the year ended 31rt Harth 2023 (h) Funds Unrestrfrteo funds are ttr•)5e furyk whKh LE usai at the Tru5teeS'dF£retv. Restricted fund5 e tlK6e furthys wlw purt•)se5 fft t¢£n festn.tted ty the ¢knx. De5unated funds are those funds which have ljeen earmJkAI by tr Tru51Ee5 fcy Spfft pJrp05e (11 Allocation of Irtad * Supptyt Costs Overheal and support costs, which I[e co we alknced tdmeen chantle Itles. TIe costs LLTn apwJrtK)ned to tr WdriOUS ath"vities on the basi5 of staff time. all00 of arKJ si4pY( cc6ts 15 analysed in rte 5. Suppyt costs are general costs trf charity %Ylith have been funded grant whth Ss ncrt &trttrthable lir to SlfIC toJ&ls. Go¥ernaKe cc6ts Cc4Twe all costs in¥dving the publK ac(ountsbllity of the drty and (ts corry)liarre wh regUlatK and prtre induding clts reL4tg to 5trtuiory aLbJSt. (il Charftable ALthltles Co5 of charit&Ae IndL¥Je cox& an overtE&. SUFPrt fAnts ctssts are 4. (k) Flnanclal Instrnefits charfry onty has finala1 assds and latrA"ls of a kknj that (NHlIty as test financkil instruments. Th&5e are in11al rewwi al valu¥ 5uLy>tpuEnUy valued at trir settknt value. 11) Cash and Cash Equvalents Cash arKI Gish Equiwalents Stat crf nanCl Posfb"on conVe cash at bank and In harrty and srt-terM dewsits an ongmal maturity of th montts cr les5. For the pijrw of the Statement ofcash Hcfj¥5 cash equrrfants are as defined ate of 0151ar119 r srd[ts rf ttw {m) Penslon Costs The tharita142 company wates a deffwj contrlbution th51C CotbJt5 tv the charrtable com1n¥S ws*)n 5cherwr are chargoj to the Ststement of Finoncial ArtNitie5 in the perKd to wNth relate.
VENTURE COMMUNITY ASSOCIATION t40TES TO THE ACCOUNTS For the year w)ded 31" March 2023 . DONAllONS Total X21 RB KENington &Chds•a: 1342W2 136.292 ,134 94,L 94.134 91. 91.9 91,9 91.otyl fAOTrJ $1SYJ 91,OY4 ),oco 545]9 52.5 )).0 27.( LI82 9.OTrJ ?7,OtiJ Ll,682 9..J 57,9L6 10 ,0 ,oc 65 6.646 21.0 20.om 15,7f4J L4,9gY lo,0) 4,933 ),0 L5.7 L4.gYJ LO,gC•J 4,9rJ 4.OtKJ 4,OC 2.fj25 i0J i.oTrJ Yxng Kac. Lawer Ywth Fktj 3).8 l4.9YJ 9fwn & Stual John Lyoils FoLmd&K To Chwoe 1025 Mayort5 Fui1 Lc 12.976 Qty BndLY Tru gxal EnwsÈfthJ HHRC 41.wo 11.532 I975 tpic ci C¥lJ"K)TrJst YIe5¥ pajects r DLryty)15 TOTAL 6,750 £W,16L 292 £>84. [720. 20
VENTURE COMMUNrrY ASSOCIATION NOTES TO THE AccouKrs For the year rJKleJl 31st Marth 2023 . OTHER TRADING ACllVIT Total Total Aciwfits"es & P•ant*tship Fees 11 BkIrJ$ TOTAL 24.249 39.556 24.249 21,313 £63,805 É46,071 4. ANALYSIS OF CHARrrABLE AcrivrriES 2023 enture Pwprow EdUcatn and 307,296 39,202 334,079 124,D46 3,456 90,690 431,342 42,658 424,769 Comrnunity Servr Arts Culbjrc TOTAL 220.496 927 374 Dlre(t 2022 ture Pk>grow¥J Edat1)n and L83mknJ Ctsnmunity SEr4ryce5 Arts and Cultwe 315.594 43.167 354,Oq7 31315 £745.123 114,286 839 ,838 429,880 46.L116 4H,885 T(ThAL £2Q9,831 £954.954 21
J rry v to VJJ ry) U% r4 f•4 O o ry) rn LV ¢YS P4 Vi i Iri 511 O It L4 r Ln YJ Ln VmLn g) 0 r4 o O Ln Ln Lft rfj o X=*8 l¥lilEllt }Iilii}11112 1
VENTURE COMMUNrrY ASSOCIATIOM NOTE5 TO THE ACCOuPs For the year ended 315t P4arth 2023 6. FfxEts ASSET5 Furniture & Furnitiire & Equipment Equipment 2023 2022 15tApr dilions DisFK)sals 3ts1 March 22.149 IS.) 18,227 3.922 37,149 22,149 Oepre(latlon tst Apnl carge for the year Dis[¥IS 31st Maich Net Book Value 31st March J3,313 10,251 7,335 5.978 £13,585 £B,836 DEBTORS 2023 2022 1,371 Other [71?4 £69,025 8. CREDrroRS Taxation ard Sctlal Seojrty Accruals aThJ DeferTgJ IrKoyr Gtants In athanc 16.535 42,105 23.939 £31,633 £58,640 9. REsfiucTED FUNDS Balan blf OIJ0412022 Exp¢nde41 ¢lf 3110312023 AAlult Semces Chiken'5 Servi 77.4Di 198.154 36 1584.690 275.555 £91,933 £676,623 Balance B•lance blf 0110412021 3110312022 It SeryKes Chlen'5 SeN 16,174 443.920 382,693 450.865 £833.558 77,401 E95,154 restric fun(ts are as fC4kfv. Adult Services: Actte$ afKI events at Verrture Centre frL¥ll fundrathg of twferert 9)uffes. children's Senrfces: Grts frLYn RBKC to part-fuThJ tre ajst of our after5thorA & School holiday pY prom5 in cwr p&4yrJour#J. E830,337 £91,933 23
VENTURE COMMUNITY ASSOCIATION NOTES TO THE ACCOUNTS For the yew wded 31# Marth 2023 10. EMPLOYEE COSTS 2023 2022 Salanes and W I Securty Pensxjn Costs 469.611 26.548 489.993 25,875 9.063 524,931 508.115 51,610 £559 725 CDll5uhancy costs Total staff c£Js £592 331 Full time Part time 16 20 No emp4(yffe eamed re £E4).LKx) (knir¥J r. The k managerw of charty arc th0 rsCr6 having aLJtFK)rtr and re5wnsiblity planning, directry. C(01"r#j the &lMties of trÉ tharty. dIrlY or irKlrectty, iluding any trust of the thity. Tr saibr managÈmert con515ts rA the Dirth, the Head of OperatKJns. arxl Head of ne, Total eMoyee txnellts IUdIng per10 a)ntribut for W wnè)aTrnt erY1 in the wiod aM(ted to £138,562 (2022: E146.307). 11. TRusfEES' REMUNERATI¢ AND EXPENSES No remuner7tiDn. dirtlY or indlrert. the funds of the Charity Pahl or Is wable for the year to any Trusfre or lo atry person LY PW5£ to crted with any cl tlm. Thtte was no travel CD5t rEIrrrTrt ID bowd n thi5 year (2022: Nil). 12. MOVEMENT IN TOTAL FUNDS FOR THE YEAR 2023 2022 ts si&oY after cwlng: DeprLYiatl ALhlitors' rrnrBlic.' Exterrhil Audit 10.251 5.978 6,826 6,245 13 TAXAThON Venture CA)mmunity As¥Kiattyn is a rajtyed d*rily dTrJ i5 exempt from tsxation ¥1 respett of Income Jk1 capitsl gains rev& wottrkn catc95 Cl by Part 11 of the Cowmtion Act 2010 or kction 256 of Ihe Taxation &ins Act 1992 to trE exnt that such Income gains applEd to exdusvdy tharitsb 14. ALLOCATION OF NEf ASSETS BETWEEN THE FUNDS Net Unrestrlrted Furnts 181425 (31.633) 164.377 Rtricted Fund5 £13,585 £181425 £(3l.633) £164,377 24
VENTURE COMMUNrrY ASSOCIATION NOTES TO THE ACCOUP115 For the ended 31" Marth 2023 J5. GOING C014CERN These Ilnanclal ststerytnts have wegared M a gjlro ¢0M basls. Thi5 dependert upon the ilatility of 4deqL& CDrrtinwJ furir¥J. The rkwe of ttr or93nisation's funding inherenuy Uncertain, as it 15 only agrLd A5 fundirE every tD three years. Shoukj grant fundiThJ t dFAJnbnI futwe yEa. org¥tsatth rJd haNE to fi1 othersource5 rffunding, orsignrfKantly [all Its adlvlties. In ojrrert dim&e, wth rsrrwj r5 infiotNM, d)tsining funding 15 wKreaslngly drffKu. SenK)f man>Jennt "nue ¢0 keep In wth furthrs and costs are rarefully mcmltred rbd controU8Y ar1 cost sawir4 Measu wi plKe. In dlding that the ng ccYKern bags L5 theTru5tee5 ha¥e conspJergJ lrformed fora2sts of income and expenditure a [ric of at 12 month5 frrAn the date of approval of these finanaal $13tements a1 the level or r(s free rese. 16. RELATED PARTY TRANSAcfIoNS No rethd party tsartly6 ar05e in the oJYert y&¥. 17. COMPANY STATiIS VentUTe Cwimunity A550aation is a charitable ccmnparty Itmiied by grantee1 lS(red in Engl (ffipany r8Ji5trath)n nurnlr 217go14): chty wistratn nun*er 1073115. It5 register@J a1 operatnal address s 103A Worniiwn Road, LorKth, WIO SIB. 25