One Walsall Ltd (A Company Limited by Guarantee) Annual Report and Financial Statements Year ended 31 March 2024 Charity number . 1074659 Company Number . 03705372 Feltons Chartered Accountants Birmingham B13JR
One Walsall Ltd (A Company Limited by Guarantee) Report and financial statements Year ended 31 March 2024 Contents Page Reference and administrative details Report of the trustees Independent Examiner's report on the financial statements 10 Statement of financial activities incorporating income & expenditure account Balance sheet 12 Cash flow statement 13 Notes forming part of the financial statements, incorporating Statement of accounting policies 14 other notes to the financial statements 17
One Walsall Ltd IA Company Limited by Guarantee) Reference and Administrative Details Trustees Peter Whitehead Chair Surey8 Gulzar (resigned 11191241 Amritpal Singh Andre Reid (resigned 1416124) Muhammad Khan (resigned 419123) Nigel Dutton Paul Mason Nordia Philpott (appointed 11101231 Slmon Harlin (appointed 1110123) Terry Gee (appointed 11101231 Vice Chair VI Chair Key management personnel Vicky Hines David Benge CEO Development manager Registered name One Walsall Ltd Working name One Walsall Registered office Jerome Chambers 1&16a Bridge Street Walsall West Midlands WS11HP Charity number 1074659 Company registration number 03705372 Independent examiner Feltons 8 Sovereign Court 8 Graham Street Birmingham B13JR Bankers CAF Bank Ltd 25 King$ Hill Ave Kings Hill W851 Malling ME19 4JQ Unity Trust Bank PIC Nine Brindley Pla Birmingham 812H8 Page 1
One Walsall Ltd (A Company Limited by Guarantee) Report of the trustees Year ended 311Vlarch 2024 The Trustees present their annual report together with the financial statements of the charily for the year ended 31 March 2024 which also meet the reqviremenls for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2008. Ihe Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in January 2019. Objectives and a¢tivitles Pur oses and aims Our aim is to support a strong and vibrant voluntary and community sector in Walsall, and to encourage arbd grow local social action, by supporting new and existing voluntary and community sector enterprises (VCSEs} to.. develop, grow and sustain their activities for the future connect and collaborate wlh other VCSES and partners across sectors promote their impact and influence local decisions about the communitie5 they serve encourage and support residents to take up volunteering and other forms of community action We review our aims, objeiveS and activities each year to identify the outcomes of our work in the previous 12 monlhs. The review looks at the success of key aclivities under each strategic objective and the benefits they have brought to the voluntary and cornmunily sector and to the residents of Walsall more generally. The review also helps us ensure our aim. objectives and activities remain focused on our slated purposes. We refer to Ihe guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities, and the InJstees consider how planned activities will contribute to the aims and objectives they have sel. Our vlsion is to inspire and support social action by offering a diverse range of unique and bespoke packages of support lo the sector In order to empower organisalions to become sustainable and thrive. The strategic objectives for the charity during the year have been: Improved quality of VCS service provision in Walsall and an increase in VCSES working to deliver against local priorities. Improved partnership working between a diverse range of VCSES Increased levels of funding accessed by the VCS from sources originating oulside of the Borough Increased representation of the VCS in a range of key partnership forums InGrease in re5idenls' engagement in volunteering and other forms of social action Increased confidence, trust and satisfaction in One Walsall from the VCS. Page 2
One Walsall Ltd (A Company Limited by Guarantee) Report of the trustees (continued) Year ended 31 March 2024 Achievements and perforniance Beneficiaries of our services One Walsall's Articles state that we work to promole any charitable purposes for the benefit of Walsall and the surrounding areas, build the capacity of voluntary and community sector {VCS) organisalions, promote, organise and facilitate co-operation and partnership working. and provide them wth the necessary support, informatson and services to enable them to pursue or contribute to any charitable purpose. The VCS in Walsall is both broad and diverse,. from small, volunteer-led community groups with little formal structure or income, to larger charities with paid staff delivering commissioned services. The diverslty of the sector's structure is mirrored by the diversity of services and activities il delivers, which includes advice and information, education and skills. employment and financial inclusion, health and wellbeing. general social activlties, sports and physical activity groups. Walsall is broadly in line with national trends with most local organisations being small- almost two thirds of those operating in Walsall have an annual turnover of less than £100,000 and the majority far less than this. Performance a ainst slrale ic ob'eclives In the last 12 months. One Walsall has experienced change. This is primarily as a result of the ending of its contract funded by Walsall Council and Health as the requirements have changed to a locality model. One Walsall has endeavoured to diversify its income and in December 2023 we received the new5 thal we had been successful with a bid to the National Lottery Community Fund. This will fund our Partnership, Development and Impact posts over three year5. One Walsall was also suGcessful in a bid to The UK Shared Prosperity Fund to fund a part time Volunteer Co-ordinator role to set up a supported volunteering programme. This wrll be an opportunity to pilot a programme offering holistic support to vulnerable people to engage them in meaningful and positive activities within the Borough and also to bring forward learning which can be shared with key partners. During this period One Walsall's board was able lo maintain the strategic objectives in this time by continuing to support its members. Improved quality of VCS service provision in Walsall and an increase in VCSES worklng to deliver agalnst local priorities. Walsall is a proud town with a diverse and multi-cultural community. The Borough has both a growing young and older population which are placing greater demands on Services going forward. Like many other towns and cities Walsall continues to face significant challenges exacerbated by the pandemic, followed by the cast of living crisis, which has Impacted the local population and the VCFSE communities alike. The sector plays a pivotal role in supporting vulnerable people experiencing health, education & skills. housing and community safety issues. Underlying structural factors such as poverty emphasise this impact on the populatlon. In this challenging landscape, One Walsall has continued to represent and provide support to ils members. There ha5 been a growing focus on providing tailored support to members around the One Walsall Business Development Tool providing organisations with an independent, holistic review of their organisations. As part of the review we work with organisations to understand their prlorilies and support them in their decision making. At the end of the process. organisations are provided with a detailed report and action plan lo aid their development. During the year we undertook a survey to understand how Members found the process and the difference it has made. A focus group was also held with members about the tool. Feedback has been positive and we are now starting to put in place changes Ihat we hope will rnake the tool even more accessible. Page 3
One Walsall Ltd (A Company Limited by Guarantee) Report of the trustees (continued) Year ended 31 March 2024 Improved quality of VCS service provision in Walsall and an increase in VCSES working to deliver against local priorities {continued) Over the last 12-18 months, One Walsall has identified a gap for members in particular around evidencing their impact. Initially One Walsall's monitoring and evaluation team played an internal role for Ihe organisalion. In recognising potential gaps for members. the focus for the Impact team's work has shifted to better understand the needs of the sector. In the reporting period, the Impact team worked with a small group of member organisations, listening to their needs & requirements. They have been able to provide advice or undertake pieces of monitoring and evaluation work which have in some instances been used to support a review with funders. In addition, Ihis has provided an opportunity for One Walsall to discuss and introduce local strategic priorities to groups who rnight be unaware of the wider impact of their work. For instance, the team is actively exploring ways to build the voluntary sector's work into Walsall's Well-being outcomes framework, which will be used in the future around commissioning and influencing future ways of working. By the end of the financial year the Impact team completed three evaluation reports. Over the next few months, we will be putting forward our M & E offer to the sector that we hope will not only provide members with a greater understanding of the importance of monitoring and evaluation but also provide Ihem with opportunities to upskill their staff. The Impact team hosted One Walsall's first webinar towards the end of the reporting period. This provided great insight into organisations, views on monitoring and evaluation and what their requirements are. The team will conlinue working on tools and resources to support the sector in the next 12 months. 2. Improved partnership working between a diverse range of VCSES. One Walsall continues to promote partnership working across the sector and is excited to be involved in progressing a couple of opportunities. One Walsall was approached early in in Ihe reporting period to take up the administrationlsecretariat for the borough's Cultural Compact. It's an exciting time to be involved in Walsall as there are a nurnber of regeneration opportunilies coming together. These include the Town's Fund. which is funding a range of exciting opportunities which will include voluntary sector organisations. One Walsall has been privileged to take part in the advisory boardlfunding pane15. In addition, Walsall has secured cultural development fvnding to bring the iconic Guildhall located in the town centre back into use and to develop opportunities for creative businesses to be established over the coming years. The CDF includes the Cultur81 Compact as a partner. There will be opportunities to bring volunteer5 on board as part of its work. The Cultural Compact provides wider opportunities to galvanise a range of key partners and the sector to partner and collaborate. Relaunching the Compact ha5 meant that during the period there has been a review of the Compact's governance. With ils reach, One Walsall together with the chair of the group have been able lo bring together a broad spectrum of partners and creative organisations. A specific creatives group has been formed which will grow and evolve over the years to influence and drive the Compact in the future. Mental health continues lo be a concern and a priority focus for partners. In recognition of ils previous work around winter pressures, One Walsall was asked by a group of member organisations to lead a proposal to the Black Country Health Trust to deliver a Talking Therapies Plus bid. This will be an innovative and creative way for the voluntary and community sector to showcase its varied strengths in supporting underrepresented & under heard groups with protected characteristics. Whilst the group has received initial approval, further sign off is required to enable the mobilisation of Ihe programme. If awarded the pilot approach could potentially lead to a business case for fijture multiyear funding with the voluntary sector taking a pivotal role. Page 4
One Walsall Ltd (A Company Limited by Guarantee) Report of the trustees (continued) Year ended 31 March 2024 Increased level of funding accessed by the VCS from sources outside of the borough. During the reporting period One Walsall's funding officer supported groups with practical advice to secure approx £480k of funding for the borough. Throughout the year, the Funding Officer was able to njn a Series individual and workshop sesslons, brlnging together various funders such as the National Lottery Community Fund. Heritage & Heart Of England Foundation alongside the voluntary and community sector. This enabled funder to share information about their fundin9 priorities, application tips and lo share best practice. Funding Information was also shared via One Walsall's newsletter and by direct email lo members. As the locality lead model includes a funding focus, One Walsall has moVed the dedicated funding officer and has moved to a Partnership and Development role. This will have a more limited funding role going forward and will recognise as has been reported in previous years that some organisations require more bespoke support in developing their offer and around income generation. Increased representation of the VCS in a range of key partnership forums. One Walsall has continued to work closely with its rnembers and explored ways for the sector to develop ideas and opportunities to support local people. Early in the reporting period One Walsall hosted an International Women's Day event at its offices. This supported some Initial work undertaken by the women's network. The IWD event enabled us to celebrate the work of One Walsall members and for them to neork with each other. Many organ5sations advised that since the pandemic that they would like opportunities to have in person as well as online meetings. The One Walsall team took the opportunity to run the Housing and homelessness fonjm in a creative way by using a "walk.. The Forum took place on world homelessness and mental health day and 60 participants took place in a walk from the town centre to the Arboretum. The forum had statutory and voluntary sector speakers at key points along the way highlighting key infomiation and work being undertaken in the Borough. Following this event there was an opportunity to host an online event, encouraging voluntary sector partners to apply for Change into Action funding which supports the street sleeping community. Some member organisations expressed an interest in becoming a Trusted Partner which will enable them to apply for funding. One Vvalsall has continued to promote the inclusion of the sector in the system wide Health Alliance meetings. Many organisations want to be involved but have some issues with their capacity. In the previous year, there was recognition of the growth in the number of Community Interest Organisations. In the reporting period One Walsall was asked by West Midlands Combined Authority lo host an event focusing on the social economy. One Walsall brought in Council. WMCA. private sector speakers and was able to include CICS in the discussion. The feedback from the event was shared with the council who are establishing an economic forum. One Walsall will continue to work work with its CIC members to help their future delivery. The new Partnership & Development officer roles, funded by the National Lottery Community Fund will be filled early in the new financial year and will pick up the work from the forum5 and neorkS. Page S
One Walsall Ltd (A Company Limited by Guarantee) Report of the trustees (continued) Year ended 31 March 2024 Increase In residents engagement in volunteering and other forms of social action. The Volunteer centre continued to operate successfully with 244 volunteers slgned up during the year from which we matched with 342 volunteering. opportunities. We ran several one off events to promote volunteering and Corporate Social Responsibility {CSR). These include a CSR event at Darlaslon Ihat attracted 29 organisations and a Volunteer MiniFair that attracted 19 voluntary groups who made conta¢t with 90 potential volunteers. Working with our fellow CVS partners from across the Black Country we provided a range of training events to support organisations to attract, develop and retain volunteers. In December 23 our Volunteer Manager left the organisation. We have secured funding for a Supported Volunteering Programme for 2024 and will cover some generic volunteering activity from reserve, and we have gone out to recruit to this part time post, however, our priority as we come to the end of the financial year is to identify further funds lo invest into our Volunteering Offer so that we can be seen as a key strategic partners around local volunteering during 202412025. During the reporting year, One Walsall as a key partner on the local place based partnership has taken a lead role in an informal cross sector volunteering network. The network brings together statutory and voluntary sector organisations to share local updates of some of the amazing volunteering work happening. The group is looking at local opportunities to work on over the coming year. During the forthcoming year One Walsall anticipates a number of volunteering opportunities being developed through our links with the Community Development Fund funded Makerfest which is linked to the Cultural Compact's work. During Ihe year we continued to support the two Big Local areas in Walsall namely Mossley and Palfrey. Both programmes which are community led are beginnin9 to wind down and focus on their long-term legacies. In Palfrey this will be in the form of significant improvements to the three parks in the area whilst in Mossley they have purchased the old Mossley Youth centre building which they are having redeveloped into a new Community Hub, for the use of the residents of Mossley and services looking to deliver their service to Mossley residents. One Walsall has continued to hold the funding for the two programmes and has managed a Coordinator role which has supported each programme's development. Increased confidence. trust, and satisfaction In One Walsall from the VCS During what has been a challenging period for One Walsall we have continued to deliver a service in support of the VCSE of Walsall. During the year we conducted a survey to understand member sector satisfaGtion with our funding support and our generic organisational support through the One Walsall Business Development Tool. Feedback showed that 81° of groups who make a funding enquiry went on to submit a bid and of those, 750k had a successful funding outcome. 970h ofthe groups who responded would recommend our funding support to other organisations. In terms of the One Walsall Development Tool 88 % ofthe groups reported acting on the advice provided. Groups also reported accessing other services including Volunteering support, e-bulletin, virtual forums etc. One Walsall began work to devise a stale of the sector survey to go to all members. It felt appropriate to go out and understand the landscape the tnembers are working in and to hear their priorities and issues. The survey went out before the end of the financial year. Apart from sending out a link to the survey, members were asked if they wanted support to help them complete the form to enable those with language barriers or a disability to take part. Feedback received al the survey midpoint suggest5 that members are concerned about the sustainability of their organisations as funding becomes more and more restricted. The outcome from Ihe survey will be shared in full in the new financial year with members and strategic partners such as external funding partner5, Health and the Council. One Walsall will also use the information to determine its future priorities and the offer. Page 6
One Walsall Ltd (A Company Limited by Guarantee) Report of the trustees (continued) Year ended 31 March 2024 structure, governance. and management Governin Document One Walsall Ltd. is a company lirnited by guarantee governed by its Memorandum and Articles of Association dated 18 April 2018 and is registered as a charity with the Charity Comrnission. There are currently 403 members, each of whom agrees to contribute £1 in the event of the charity winding up. Membership is open to nol-for-profit organisalions with charitable aims which operate within Walsall and are in support of One Walsall's mission and objects. Recruitment and a ointment of trustees We recruit new trustees to ensure our board has the range of skills and experience to meet the needs of the organisation. Trustees are appointed by ordinary resolution at a General Meeting or by a decision of existing trustees. Board of Trustee Meetln A HR sub committee meets regularly in support of all One Walsall's HR processes. A Finance subgroup has also been meeting regularly to review and oversee One Walsall's charily accounts and provide support with business planning. Trustee Induction and Trainin Most trustees are already familiar with the practical work of Ihe charity having been drawn from the membership of the organisation and been in receipt of our services at one time or another. New trustees are provided an induction to the organisation, delivered by the Chair of the Board of Trustees and Chief Executive, which covers the current context the organisation operates in, the key areas of service delivery, and the main documents which set out the charity's operational and governance framework, including-. Memorandum and Articles Mission statement and strategic plan Conflict of Interest Policy and Procedure Trustee role description, code of conduct and contract In addition, new trustees are directed to the relevant advlce and guidance of the Charity Commission and are invited to attend any relevant training delivered by the Development Team which will support orientation to thelr role. anisational Stnjcture The Board of Trustees, which can have up to 12 members. administers the charity. The Board meets quarterly to manage the affairs of the organisation. to formulate and approve policy, and set the overall strategic direction. Sub- committees meet as and when required to cover governance matters in greater detail in areas such as human resource5. The day to day responsibilty for the provision of service remains with the Chief Executive Officer along with Development Manager and Office Manager. Page 7
One Walsall Ltd (A Company Limited by Guarantee) Report of the trustees (continued) Year ended 31 March 2024 Related arties The charity has a close relationship with other voluntary sector infrastructure organisations in the region. and acts in collaboration with them to establish strategies for the benefit for the voluntary and community sector in Walsall. One Wa15all is a member of the National Association for Voluntary and Community Action INAVCA} and the National Council for Voluntary Organisations (NCVOI. In 2013, One Walsall became one of the four members managing Black Country Together CIC, an associated cornpany which is joint owned with Dudley Council for Voluntary Services, Sandwell Council for Voluntary Organisalions and Wolverhampton Voluntary Sector Council. Black Country Together is established to increase the level of funding secured by the voluntary and community sector within our sub-region and foster greater cooperation and collaboration between voluntary organisalions and local statutory agencies both within and across borough boundaries. Financial Revlew As detailed ealier One Walsall's Core Grant from the council was rnade into a contract and put out to tender In four lots. One walsall was unsucessful in the tender to provide infrastructure support to the South of the Borough. During the year we have been utilising our reseNes to cover the some of the posts that were previously funded through this grant. During the year we have reduced our head count to reflect the financial situation in which we find ourselves. In December 2023 were were advised that we had been sucessful in applications both to the National Lollery Community Fund and to the Uk Shared Prosperity Fund. Whilst this fvnding has covered the costs of a several key posts we still need to secure additional core funding lo avoid having to deplete our reserves any further. How we achive this and developing a more sunslainable funding mix will be two of our main priorities for the forthcorning year. ReseNes olic The Trustees have reviewed the charitws needs for reserves in accordance with the guidance issued by the Charity Commission. The tiustees believe that the charity should hold financial reserves because il is dependent for much of its income on short and medium-term grants. These grants are subject to fluctuation and delay and the charity requires protection against these uncertainties and the ability to continue operating despite gaps in future Income.The trustees have decided that due to our reduction in staff and the reduction in potential redundancy payments and due to the fact that other organsiations are operating who could support our members in the event of forced closure that we would reduce our Reserves to a level of 3 months operating costs. This will give us more financial flexibility in the short term. Investment olic The trustees having regard to liquidity requirements of the charity and the reserves policy described in the trustee's report, have operated a policy of keeping available funds in an interest bearing deposit account. Goln concem The financial statements have been prepared on a going concern basis. The trustees believe this is appropriate wlh the current situation. However there are some concerns over the future level of funds held and the expected level of income. The charity is currently identifying suitable funders to help alleviate our shortfall in core fundin9. Applications to funders will be made shortly.The future ability of the charity is dependent on being successful in number of these applicatlons. As it stands now the trustees believe adopting the going concern assumption 15 appropriate. Page 8
One Walsall Ltd (A Company Limited by Guarantee) Report of the trustees (continued) Year ended 31 March 2024 Plans for the Future - Looking Forward Moving forward into the new financial year One Walsall rernains committed to working to strengthen and support ils members. Securing the National Lottery Community funding has been pivotal and will enable the organisalion to lake a bespoke approach in ils work and to take a greater leadership role. Looking ahead there will be national. regional and local elections over the coming year. which may have implications for the VSCE in its role and remit. The economic outlook remains unpredictable and unsettled. It is evident that partnership and collaboration will be required ever more as funders and commissioners alike grapple with limited long-lerm funding. One Walsall has rolled out its comprehensive Stale of the Sector survey and hopes to achieve a response rate of 100. The feedback from the survey will have irnplications for the One Walsall Board & staff in terms of the organisation's strategic planning and also for key partners such as the Walsall Together Partnership working across the Borough. In the new financial year, One Walsall will develop its 3 year plan and will explore ways to develop its members, prioritise partnership and collaborative opportunities and secure further fvnding to sustain its future work- this includes developing self-funding options. One Walsall will continue to add value, using its platform to promote and build those working in the voluntary and community sector who work with some of the most vulnerable people living in the Borough. There will be opportunities for One Walsall to be involved in major pieces of work where it can test & learn, share learning and inform best practice. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. By order of the board of trustees Peter Whitehead Chair 24 October 2024 Page 9
Independent Examiner's Report to the Trustees of One Walsall Ltd (A Company Limited by Guarantee) I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 11 to 23. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companie5 Act 2006 {'the 2006 Act'l. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of rny examination of your company's accounts as carried out under section 145 of the Charities Act 20111'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 examiner's statement Since the company'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 l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, 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.. accounting records were not kept in respeGt of the company as required by section 386 of the 2006 Act-, or the accounts do not accord with those records- or the accounts do not 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 as part of an independent examination., or the ac¢oun15 have not been prepared in accordance with the method5 and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) 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 accounts lo be reached. 4É_ David W Farnsworth FCA (Senlor Statutory Auditor) For and on behalf of Felton5 8 Sovereign Court 8 Graham Slreet Birmingham B13JR Page 10
One Walsall Ltd (A Company Limlted by Guarantee) Statement of financlal activities lincluding income and expenditure account) forthe yearended 31 March 2024 Unrestrlcted Deslgnated Restrlcted funds fund funds Total 2024 Total 2023 Notss Income Donations and legacies Inrne fmm ¢haritable eclivitses.. Core grant IWMSCI Core grant INHSBC ICB) Creative Black Country Mossley Big Local One Palfrey Big local NHS Heallh Inequalities Commonwealth Aclivily Connectors Kick Off Call Voluntary and Social Enterprise Suppori Volunteering Futures VCSE Leadership Wa15all Cultural Compa¢1 Initiative for Soeial Enlerprise Investing in Volunleeis Winter Pressures Walsall CCG Black Country Together CIC Volunteer Centre Primary ca Arnbassadors Youth Focvs Wesl Midlands Engage Walsall Mossley Jubilee Day of Culture Feslival We Are Walsall 2040 Others 55 55 10.000 8.333 4.167 8.333 4.167 3.500 123.588 100.196 39,188 40,260 3,750 30,024 4.670 5,000 13,320 2,500 2,000 100,000 3,500 44,563 4,723 3.500 70,466 75,066 10.812 43.444 2.750 79,025 95,473 39,188 40.260 3.750 30.024 4,670 5.000 13.320 2.500 2.000 2,330 231.509 50,000 3.000 5,000 18.000 1.324 2,323 9,668 1.820 5.881 867 1.717 2,584 Inconpe from trading o¢tiwlies.' Conlracls for servi¢es Advertising Rental income and room hire 3.230 130 62 3.230 130 62 287 180 211 Investment income 5.565 5.565 2.419 Total income 93.935 298.187 392.122 649.990 Expenditure Charitable &¢liviti&s.' Operational and support costs 219.317 1.597 305.488 526,402 686.717 Total expenditure 219,317 1.597 305,488 526.402 686.717 Net income before transfers 1125,382) 11.5971 17.301) (134.2801 136,727) Gross transfers between funds 13 97,699 1105,000) 7,301 Nèt movement in funds {27.6831 1106.5971 1134,2801 136.727) Reconclliatlon of funds Total fund5 brought forward 13 94,028 206.602 300,630 337.357 Total funds carried foNard 66.345 100,005 166.350 300.630 All of the charity's activities derive from ¢onllnuing operation5 during the above two financial period5. Page11
One Walsall Ltd (A Company Limited by Guarantee) Company Number . 03705372 Balance sheet as at 31 March 2024 I Charity number . 1074659 2024 2023 Notes Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 10 3,388 451.358 454,746 10.136 521,491 531,627 Creditors: amounts falling due wlthin one year 11 288.396 230.997 Net current assets 166.350 300,630 Net assets 166.350 300,830 Funds of the charlty . Restricted funds General fund 13 Unrestrlcted funds General fund Designated fund 13 13 66.345 100,005 94,028 206,602 166.350 300,630 Total funds 166,350 300,630 The company is entitled lo exemption from audit under Section 477 of Ihe Comp8nles A¢t 2006 for the year ended 31 March 2024. The members have not required the company lo obtain an audit of ils financial slalements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for.. a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and b) preparing financial statements which give a true and fair view of Ihe slate of affairs of the company as al the end of each financial year and of Ils surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which olhernise comply with the requiremen15 of the Companies Act 2006 ielaling lo flnancS8l statements, so far as appllcable to the company. These attounts have been prepared In accordance with the special provisions of Part 15 of the Companies Act 2008 relating to small companies. The notes on pages 14 to 23 fom part of these accounts. The financlal stalernents were approved by the board of Irustees on 24 October 2024 and were signed on Its behalf by.. Peler Whitehead (Chair) Page 12
One Walsall Ltd (A Company Limited by Guarantee) statement of cash flows for the year ended 31 March 2024 Notes 2024 2023 Cash flow from operating activities 16 175.698) 170,179 Net cash flow from operating activities 75,698 170.179 Cash flow from Investing actlvltles Interest received 5,565 2,419 Net cash flow from investing activities 5,565 2,419 Net (decrease) l increase in cash and cash equivalents {70,133) 172,598 Cash and cash equivalents at 1 April 2023 521.491 348.893 Cash and cash equivalents at 31 March 2024 451,358 521.491 Page 13
One Walsall Ltd (A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 1. Accounting policies a) Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland issued in October 2019, tte 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. The char(ty constitutes a public benefit entity as defined by FRS 102. The financial statements are prepared under the historical cost convention unless otherwise slated in the relevant accounting policy note. One Walsall Ltd is a charitable company limited by guarantee in England and Wales. The company's registered number and registered office can be found in the reference and administrative details page. b) Going concern The financial statements have beon prepared on a going concern basis. The trustees believe this is appropriate with the current situation. However there are some concerns over the fvture level of funds held and the expected level of income. The charity currently has various applications out for consideration with funders and are expecting decisions to be made soon. The future ability of the charity is dependent on being successful in a number of these applications. As it stands now the trustees believe adopting the going concern assumption is appropriate. c) Income recognition All incoming resources are included in the Statement of Financial Actlvities (SOFA) when the charity Is legally entitled to Ihe income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. Grant5 receivable Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes bul not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt its recognition is deferred and included in credilors as deferred income. Where entitlement occurs before income is received, the income is accrued. Donations Donations are recognised on a receivable basis where there is certainly of receipt and Ihe amount can be reliably measured. If there are conditions attached to the donation and this require5 a level of performance before entitlement can be obtained then income is deferred until those condillons are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated services and gifts In kind Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be wllling lo pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. Page 14
One Walsall Ltd (A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 (continued) 1. Accounting policies (continued) c) Income recognition (continued) Gifts in kind Fixed asset gifts in kind are recognised when receivable and are included at falr value. They are not deferred over the life of the asset. Interest receivable Intest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notification of the interest paid or payable by the bank. Other income Other income. including the hire of facilities, is recognised in the period it is receivable and to the extent the goods have been provided or on completion of the service. dl Expenditurè recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties. it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the tollowing headings.. Costs of generating funds These are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activitles These are costs incurred in activities undertaken to further the purposes of the charity and their associated support costs. Governance costs These include the costs attributable to the trust's compliance with constitutional and statutory requirements, including strategic management and trustees. meetings and reimbursed expense5. Irrecoverable VAT is charged a5 an expense against the activity for which expenditure ar05e. e) Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at thelr discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charivs work or for specific artlStic projects being undertaken by the charily. fj Allocation of support costs Support Costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. Where support costs cannot be directly attributed to partlcular headings they have been allocated to C05t of raising fund5 and expenditure on charitable activities. The bases on which support cosls have been allocated are set out in note S. Page 15
One Walsall Ltd (A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 (continued) 1. Accounting policies (continued) gl Tangible fixed assets Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributsble to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculaeed to write off the cost. less estimated residual value. of each asset on a systematic basis over its expected useful life as follows= Fixtures and fittings 250h per annum on a straight line basis h) Debtors Operational and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. i} Cash at bank and in hand Cash at bank and In hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. j) Liabilities Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event. it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that Ihe charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. k) Operating leases Rentals payable under operating leases are charged to the SOFA on a straight line basis over the period of the lease. l) Taxation The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. m) Pension benefits The charity operates a defined contribution plan for the benefit of ils employee5. Contrtbulion5 are expensed as they become payable. n) Critical accounting estimates and areas of Judgement Estimates and judgements are conlinually evaluated and are based on historical experience and other factors. including expectations of future events Ihat are believed to be reasonable under the circumstances. There are no critical accounting estimales or areas of judgement. Page 16
One Walsall Ltd (A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 {continued) 2. Donations and legacles Unrestricted Restricted funds funds Total 2024 Total 2023 Donations 55 55 10,000 55 55 10.000 3. Investment income Unrestricted Restrlcted funds funds Total 2024 Total 2023 Deposit account Interest 5.565 5.5S5 2,419 5.565 5.565 2.419 4. Expenditure on charitable activities Core Activities Speclfic Projects Total 2024 Total 2023 Operational and support costs Slaft costs Project costs Motor and travel Premises costs Promotion and marketing Support costs (see note 5) Governance costs (see note 5) 276.832 276,832 212,282 257 6,161 2,490 17,496 10.884 316.244 326.551 32 9.113 2,516 27,741 4.520 212.282 257 6,161 2.490 17,496 10,884 314.120 212.282 526,402 686,717 Total expenditu on charitable activities was £526,40212023 £688.717} of which £220.914 {2023 - £101,547} was unrestricted and £305,488 {2023 - £585.1701 was restricted. Page 17
One Walsall Ltd (A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 {continued) S. Analysis of supportand governance costs Basis of allocation General support Governance function Total 2024 Total 2023 Training and recruilmenl Information technology General office costs Independent examinerfs fee Legal and other professional Bank charges Staff time Usage Usage Governance Governance Usage 151 10,014 7,196 151 10,014 7,196 2,334 8.550 135 1,450 18,425 7,718 1,920 2,600 148 2,334 8,550 135 17,496 10.884 28,380 32,261 6. Net in¢ome for the year Net income is stated after charging.. Total 2024 Total 2023 Operating lease renta15 ofFI equipment 1,543 7. Trustees and key management personnel remuneration and expenses During the current and prevlous year. no trustees received any remuneration nor any benefits in kind. DLrring the current and previous year, no trustees rettived any reimbursement of expenses. The Trust Considers its key management personnel comprise Ihe Chief Executive Officer and the Development Manager, as shown on page 1. The total amount of employee benefits received by key management personnel was £77,533 (2023- £63.288}- Page 18
One Walsall Ltd IA Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 {continued) 8. Analysis ofstaff costs and numbers Staff costs . Total 2024 Total 2023 Wages and salaries Social security costs Defined contribution pension scheme 252,986 16,339 7.507 276,832 284,805 17,748 13,691 316.244 No employees received total employee benefits of more than £60,000. Stsff numbers . The average monthly number of employees and full lime equivalents during the year was as follows-. 2024 Number 2024 FTE 2023 Number 2023 FTE Charitable activities Adminislralive Management 12.0 13.0 9. Tangible fixed assets Flxtures & rittings Total Cost At 1 April 2023 and at 31 March 2024 131,219 131.219 Depreciation At 1 April 2023 and al 31 March 2024 131.219 131,219 Net book values At 31 March 2024 At 31 March 2023 Page 19
One Walsall Ltd (A Company Limited by Guarantee) Notes to the financial Statements for the year ended 31 March 2024 (continued) 10. Debtors Total 2024 Total 2023 Debtors from operations Prepayments and accrued income 280 3.108 3.388 3.732 6,404 10,136 11. Creditors - amounts falling due within one year Totsl 2024 Total 2023 Creditors from operations Accruals and deferred income Other creditors 6,690 215,647 66,059 288,396 7,089 219.929 3.979 230,997 Deferred Income Deferred income al 1 April 2023 Resources deferred in the year Amounts released from previou5 years Deferred income at 31 March 2024 216,727 284.910 1294,924 206,713 68,447 192.066 43,7861 216,727 At the balance sheet dale the charity was holding funds received in advance where the qualifying expenditure is expected to be incurred in a future year. 12. Commitments under operating leases Al 31 March 2024 the charity was committed to makin9 the following payments under non-cancellable operating leases other Totsl 2024 Total 2023 Within one year Within iwo to five years inclusive 500 2.001 2,501 1.543 1,543 Page 20
One Walsall Ltd {A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 (contlnued) 13. Analysis of funds Balance at 1 April 2023 Balance at 31 March 2024 Incoming resources Resources expended Transfer5 Restricted general funds Core grant IWMBC) Core grant INHSBC ICB) M05s1ey Big Local Urban Street Cleaning One Palfrey Big local Cycling UK Change Into Action Health Inequalities Winter Pressures Commonwealth Activity Connectors Primary Care Ambassadors Voluntary and Social Enterprise Support 8.333 4.167 79,025 397 95,473 480 840 39,188 (8,3331 14.1671 {79,025) {3971 195.473) (480} {8401 144,413) (1.7051 (40,2601 (371) 30.024) 305.488 5,225 1,705 40.260 371 30,024 298,187 7,301 Unrestrlcted funds General fund Designated funds.. Operating Reserve {Ihree months) Relocation Fund Youth Engagement (legacy) 94.028 93.935 1219.317) 97.699 66,345 165.000 35.000 6,602 170,0001 {35,000) 95.000 11.5971 5,005 300.630 93.935 220,914 17.301 166,350 Total funds 300.630 392,122 526.402 166.350 Name of fund Descrlptlon. nature and purpose of fund Restricted general fund Money given to the charity where the donor Tequires that a grant or donation be spent for a specific project. Unrestricted general fund The free resejves of the charity which 8 not designated for parbcular purposes. Designated fund Unrestricted income for which the trustees have designated a particular purpose. It was decided by the board to ring fen¢e an unrestricted legacy and spend it on the now unfunded Youth Engagement project. As At 31 March 2024 the balance on the Youth Engagement ftjnd was £5,005. Page 21
One Walsall Ltd (A Company Limited by Guarantee) Notes to the financial statements forthe year ended 31 March 2024 (continued) 14. Analysis of net assets between funds Fund balances at 31 March 2023 are represented by.. Unrestricted Deslgnated funds funds Restricted funds Total funds Current assets Current liabilities Total net assets 354.741 (288.3961 66.345 100.005 454.746 1288,396 166.350 100,005 15. Capltal commltments There were no capital commitments at 31 March 2024 nor at 31 March 2023. 16. Reconciliation of net Income to net cash flow from operating actlvlties Total 2024 Total 2023 Net income for the year Interest receivable De¢rease in debtors Increase in CditOrS 1134,280) (5.565) 6.748 57,399 {36,727) 12.419) 59.339 149.986 Net cash flow from operating activitles 75.698 170,179 17. Related party transactlons The following related paty transactions look place during the period.. Black Country Together CIC Community Interest Company in which One Walsall Ltd owns 250kn. 2024 2023 Income received from related party during the year Amount due from related company at year end 53,594 250 60,548 288 Organisation Mindkind CIC Community Interest Company in which sUya Gulzar (trusteel is a director 2024 2023 Income received from related paty during the year 12.450 39.000 Page 22
One Walsall Ltd (A Company Limited by Guarantee) Notes to the financial statements for the year ended 31 March 2024 (continued) 17. Related party transactlons {continued) Oryanisation Mettamlnds CIC Community Interest Company in which Amrilpal Sin9h {trusteel is a director 2024 2023 Income received from related paty during the year 40.240 Page 23