OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

REGISTERED COMPANY NUMBER: 03802713 (England and Wales) REGISTERED CHARITY NUMBER: 1077442

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2022

for

Basingstoke Voluntary Action

Chamberlains Chartered Accountants Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB

Basingstoke Voluntary Action

Contents of the Financial Statements for the Year Ended 31 March 2022

Page
Foreword from the Chair of Trustees 1
Report of the Trustees 2 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Cash Flow Statement 13
Notes to the Financial Statements 14 to 25

Basingstoke Voluntary Action

Foreword from the Chair of Trustees

for the Year Ended 31 March 2022

I am pleased to bring you this annual report which describes the progress and achievements of BVA during the period 2021-2022. During a year which saw the country gradually emerging from the Coronavirus pandemic, the team at BVA continued to work tirelessly in supporting both residents and community groups recover and open their doors once more as restrictions started to lift.

We saw a rise in demand for all our services and in particular our group development advice and support services where we worked with our wider partners to promote social enterprise and diverse fundraising opportunities within the borough. Several group development initiatives were successfully undertaken during the year - a key one being the emergency response for Afghanistan Evacuees where our collaborative working at both district and county level provided extensive welfare and community integration support to dozens of families arriving within the borough, and we have continued to successfully provide a welcoming and effective support service to families in need.

This was just one example of BVA's unique position as the strategic body for the voluntary sector to galvanise effective community action and bring partners together. We remain extremely grateful for the ongoing levels of partnership working and trust placed in us by both our members and key public sector stakeholders including Basingstoke & Deane Borough Council, Hampshire County Council, and Health bodies which enables us to carry out our core role as an infrastructure body effectively and efficiently. We look forward to building on these relationships even further in the coming year.

This annual report describes in detail the actions and developments delivered through the year 2021-22 and outlines priority plans for the year ahead:

Through our core activities

BVA could not fulfil its purpose without a number of people who I would like to thank for their continued support: our staff for their dedication, hard work, commitment and enthusiasm throughout the year, all our volunteers who help BVA, all our members who do great work in our communities, and our key stakeholders. Finally, I would like to thank the Trustees for the time they have given to maintain oversight of BVA and effectively govern the organisation.

Carol Bode Chair of Trustees December 2022

Page 1

Basingstoke Voluntary Action (Registered number: 03802713)

Report of the Trustees for the Year Ended 31 March 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

GOVERNING DOCUMENT

Basingstoke Voluntary Action (BVA) is a company limited by guarantee governed by its Memorandum and Articles of Association dated July 1999 and amended April 2005. It is registered as a charity with the Charity Commission. Membership is open to voluntary and community organisations and other stakeholder organisations, each of whom are approved by the board of trustees and whose liability is limited to £1 in the event of the charity winding up.

APPOINTMENT OF TRUSTEES

As set out in the Articles of Association, Trustees (known as Directors) are elected by the members at the AGM. Trustees can be nominated by members, existing Trustees or senior staff members and due regard is paid to their skills and expertise to operate as a Director of the organisation together with their contribution to the voluntary and community sector. The board of trustees has the power to co-opt members to fill specialist roles.

ORGANISATIONAL STRUCTURE

BVA has established strong management reporting and communication lines with the Chief Executive reporting to the trustees and trustee board at frequent intervals; with managers and project coordinators reporting to the Chief Executive on activities associated to their work plans and areas of delivery; with staff and volunteers reporting to their managers on their activities associated to their work plans and project delivery areas. All projects and teams have key performance indicators that are reported quarterly to the Chief Executive who then reports them to the board of trustees. Any issues of concern are identified, and measures are taken to offset any issue or risk.

TRUSTEE INDUCTION AND TRAINING

Trustees undergo an induction programme and ongoing training programme to help ensure they understand their legal obligations under charity and company law, the content of the charity's governing document, the committee and decision-making processes, the business plan and recent financial performance of the organisation. The trustees continue to keep in touch with individual departments and projects through presentations by project staff and by personal involvement with particular departments. The charitable company is governed by its trustees with day-to-day management delegated to the Chief Executive.

RISK MANAGEMENT

The trustees have examined the risks to which the charity is exposed and have implemented a risk management policy and procedure. This policy enables the charity to:

o Identify and respond to significant risks through the risk annual review

o Review ongoing risks within the trustee board meeting ensuring mitigating actions are in place and sufficient to minimize the risk

The key areas identified are:

Page 2

Basingstoke Voluntary Action (Registered number: 03802713)

Report of the Trustees for the Year Ended 31 March 2022

A key element in the management of financial risk is in the setting and implementation of a reserves policy that is reviewed by trustees annually.

RELATED PARTIES

BVA has established strong partnership and networks of voluntary and community groups to help improve the quality of life for local residents and communities. BVA also have a close relationship with Basingstoke and Deane Borough Council (BDBC) and Hampshire County Council (HCC) as our core funding support organisations.

PUBLIC BENEFIT

Our work with the local voluntary and community sector aims to put us at the heart of voluntary action in Basingstoke and Deane. By delivering support, information and advice to charities and local groups, we aim to bring about improved quality of services, help groups benefit and change lives, communities and residents for the better.

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

USE OF VOLUNTEERS

There is a substantial donation of volunteer time and effort with volunteers engaged in a variety of BVA services and its projects during the year. Volunteers bring a wealth of skills and experience to the organisation with good practice principles in volunteer management provided via the in-house volunteer centre.

CORE ACTIVITY

1. BVA Group Development - providing support to local groups and charities

As the voluntary sector membership body for Basingstoke and Deane, we offer free professional help and advice to our member Voluntary and Community groups. As part of our role as the umbrella body for local community organisations we provide group development, support and training on a wide range of topics including start-up, governance, funding advice and guidance, business planning and general good practice. Throughout the year we have continued to see a demand for our group development advice and support services, including working with our wider partners to promote social enterprise and diverse fundraising opportunities within the borough. A selection of targeted group development initiatives we successfully undertook across the year were as follows:

Page 3

Basingstoke Voluntary Action (Registered number: 03802713)

Report of the Trustees for the Year Ended 31 March 2022

Future Plans

2. Grants and Funding Support

This year saw a continued expansion of our Funding Support service, with the continuation of our monthly grants and funding newsletter alongside our 'tailored search' service. This services offers the opportunity for members to meet with one of our team to identify their funding needs and produce a unique funding report tailored specifically to their cause and showcasing hundreds of grant, contract and open trusts they would be eligible to apply for. Following the launch of this service last year, we were delighted to continuing working on behalf of Hampshire CVS Network colleagues to offer our fundraising search to voluntary sector organisation from across Hampshire. We shall continue to grow and improve the service further over the coming year.

Future Plans

Page 4

Basingstoke Voluntary Action (Registered number: 03802713)

Report of the Trustees for the Year Ended 31 March 2022

3. Volunteer Centre

We work with local voluntary, community and charitable organisations that are in need of volunteers in order to fulfil their mission and help the people and communities in Basingstoke and Deane. Via our dedicated 'Volunteer North Hants' online platform, jointly managed in partnership with Hart Voluntary Action and Rushmoor Voluntary Services, we offer a comprehensive brokerage and matching service for volunteering within the borough. Within the year we helped find opportunities for hundreds of people who registered with us triggering over 1800+ enquiries around volunteering.

To further promote volunteering, we continue to attend events and hold regular information stands across the borough including outreach events at various local venues such as supermarkets and community centres to increase awareness of volunteering opportunities available within the borough.

Future Plans

4. The Orchard

We continued to operate the much loved and well utilised Orchard building within the town centre. Throughout the year we saw a noticeable increase in demand for room and facilities hire requests, including from a number of new organisations that had not previously held their events with us. There continued to be movement amongst our fellow charity occupants within the building, with several offices being occupied by new tenants along with other becoming vacant due to projects either coming to an end of seeking to downsize their office space requirements. However, despite these changes we continued to hold an occupancy rate of above 90% throughout the year and strong room hire performance has meant that our income remained relatively stable even with tenant fluctuations.

The Orchard continues to be supported both in terms of reception cover and wider maintenance by the help of volunteers. We would like to thank our fantastic volunteers for all of their unwavering support throughout the year.

Future Plans

5. Forums and Partnerships

Throughout the year we continued to host a variety of partnership meetings, providing opportunity for community organisations to come together to share best practice, news and updates. These included our bi-monthly Voluntary Sector Forums which offer an opportunity for our members to share their latest updates and the Healthy Ageing Partnership, where attendees comprise a range of organisations who interact with and support older people within the borough.

BVA continues to serve as a co-chair for the Health and Wellbeing Partnership, along with our CEO continuing to chair the Children, Young People and Families Partnership. As a result, our members continue to be well represented across various initiatives and promotions linked to health and wellbeing activity across the borough.

Page 5

Basingstoke Voluntary Action (Registered number: 03802713)

Report of the Trustees for the Year Ended 31 March 2022

Future Plans:

MAIN AIMS AND OBJECTIVES FOR THE COMING YEAR

THANK YOU TO OUR SUPPORTERS

We would like to take this opportunity to say a huge thank you to our supporters for working with us throughout the year to champion a vibrant and diverse voluntary sector across Basingstoke & Deane. To our core funders, Basingstoke & Deane Borough Council and Hampshire County Council, we offer our sincere gratitude for continuing to believe in the role BVA has to serve as a strategic community partner. To our Members, we say a heartfelt thank you for all that you do for our communities day in and day out, and for working with us to ensure that not-for-profit organisations working in our Borough are as well governed, financially secure and appropriately publicised as possible.

FINANCIAL REVIEW

Policy on reserves

BVA's policy is to maintain unrestricted funds at a level that balances our objective to develop and support services with our need to remain financially stable. Our reserves policy seeks to maintain a level of unrestricted funds equating to at least six months of unrestricted expenditure. At 31st March 2022 we held total unrestricted funds of £286,249 equating to 7.8 months of general expenditure, however this doesn't take account of the identified pension liability at the year end.

Funds in deficit

The 'unrestricted' general funds showed a net surplus on activity for the year of £32,208 before other recognised gains or losses were taken into account. After allowing for the 'Actuarial' loss on the pension benefit scheme of £321,000 and taking into account the balance of funds brought forward from the previous year, the balance at the period end was a deficit of £34,751.

Principal funding sources

The main source of income for BVA core activities comprises grants received from Basingstoke and Deane Borough Council and Hampshire County Council. Other projects are funded through a mix of statutory sector grants, donations from businesses and trusts and individual donations.

Page 6

Basingstoke Voluntary Action (Registered number: 03802713)

Report of the Trustees for the Year Ended 31 March 2022

Going concern

The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties relating to events or conditions that may cast doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

The latest actuarial valuation of the Basingstoke Voluntary Action fund within Hampshire County Council defined benefits pension scheme shows a liability as at 31st March 2022 of £321,000. This results from £211,000 decrease in the actuarial valuation of the fund over the year. There is no expectation that the pension fund will need to be distributed in full during the next twelve months and therefore there will be no requirement to make good the pension fund liability.

The net asset position of the organisation excluding the pension deficit is £397,366 with the majority of this being cash reserves. On this basis the trustees consider it appropriate to prepare the accounts on a going concern basis.

DIRECTORS' RESPONSIBILITIES

The trustees (directors) are responsible for preparing the Report of the Trustees (directors) and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors are required to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the profit or loss of the charitable company for that period. In preparing those financial statements, the directors are required to:

The directors are responsible for keeping proper accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

INDEPENDENT EXAMINERS

Chamberlains will be proposed for reappointment at the forthcoming Annual General Meeting as Independent Examiners for the 2022-23 financial year subject to receipt of satisfactory quotation.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The annual report was approved by the trustees of the charity on 7th December and signed on their behalf by

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 7

Basingstoke Voluntary Action (Registered number: 03802713)

Report of the Trustees for the Year Ended 31 March 2022

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03802713 (England and Wales)

Registered Charity number 1077442

Registered office

The Orchard White Hart Lane Basingstoke RG21 4AF

Trustees

C A Bode S D Brearley K Chillman B V Linklater J M Welton

Company Secretary

T Capon

Independent Examiner

Chamberlains Chartered Accountants Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ C A Bode - Trustee

Page 8

Independent Examiner's Report to the Trustees of Basingstoke Voluntary Action

Independent examiner's report to the trustees of Basingstoke Voluntary Action ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity's 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 Companies Act 2006 ('the 2006 Act').

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 my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other 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

  3. the accounts have not been prepared in accordance with the methods 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 to be reached.

Paul J Chamberlain ICAEW Chamberlains Chartered Accountants Elm House, Tanshire Park Shackleford Road, Elstead Godalming Surrey GU8 6LB

Date: .............................................

Page 9

Basingstoke Voluntary Action

Statement of Financial Activities for the Year Ended 31 March 2022

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
388,150
Charitable activities
Facilities management
179,298
Investment income
3
44
Total
567,492
EXPENDITURE ON
Charitable activities
5
Facilities management
438,594
Donated services and facilities
96,690
Total
535,284
NET INCOME/(EXPENDITURE)
32,208
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes
211,000
Net movement in funds
243,208
RECONCILIATION OF FUNDS
Total funds brought forward
(277,959)
TOTAL FUNDS CARRIED FORWARD
(34,751)		 Restricted
funds
£
124,216
-
-
124,216
45,629
-
45,629
78,587
-
78,587
32,530
111,117		 31.3.22
Total
funds
£
512,366
179,298
44
691,708
484,223
96,690
580,913
110,795
211,000
321,795
(245,429)
76,366		 31.3.21
Total
funds
£
459,813
146,590
126
606,529
511,927
94,794
606,721
(192)
4,000
3,808
(249,237)
(245,429)

The notes form part of these financial statements

Page 10

Basingstoke Voluntary Action (Registered number: 03802713)

Balance Sheet 31 March 2022

Notes
FIXED ASSETS
Tangible assets
11
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
PENSION LIABILITY
17
NET ASSETS/(LIABILITIES)
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 31.3.22
£
29,524
23,741
473,079
496,820
(128,978)
367,842
397,366
(321,000)
76,366
(34,751)
111,117
76,366		 31.3.21
£
35,835
43,432
334,412
377,844
(142,108)
235,736
271,571
(517,000)
(245,429)
(277,959)
32,530
(245,429)

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

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

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. C A Bode - Trustee

The notes form part of these financial statements

Page 11

Basingstoke Voluntary Action

Cash Flow Statement for the Year Ended 31 March 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.3.22
£
138,623
138,623
-
44
44
138,667
334,412
473,079		 31.3.21
£
120,439
120,439
(3,386)
126
(3,260)
117,179
217,233
334,412

The notes form part of these financial statements

Page 12

Basingstoke Voluntary Action

Notes to the Cash Flow Statement for the Year Ended 31 March 2022

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Difference between pension charge and cash contributions
Net cash provided by operations		 31.3.22
£
110,795
6,312
(44)
19,691
(13,131)
15,000
138,623		 31.3.21
£
(192)
7,090
(126)
(13,398)
112,065
15,000
120,439

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.21 Cash flow At 31.3.22
£ £ £
Net cash
Cash at bank and in hand 334,412 138,667 473,079
334,412 138,667 473,079
Total 334,412 138,667 473,079

The notes form part of these financial statements

Page 13

Basingstoke Voluntary Action

Notes to the Financial Statements for the Year Ended 31 March 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in pounds sterling (£) and amounts are rounded to the nearest pound, except for amounts relating to the pension liability which are rounded ot the nearest thousand pounds.

The charitable company only has financial assets and liabilities of a kind that qualify as basic financial instruments. These are initially recognised as transaction value and subsequently measured at settlement value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Donations are usually recognised immediately on receipt, unless the donation includes terms or conditions which must be met before the charitable company is entitled to the resources.

Grants are recognised when the charitable company has an entitlement to the funds and any conditions linked to the grants have been met.

Investment income is recognised on a receivable basis.

Included in income are amounts charged between internal funds for project management and service charges.

Deferred income represents amounts received for future periods and is released to income in the period for which it has been received.

Where services or facilities are provided to the charitable company as a donations that would normally be purchased from third party suppliers, this benefit is included in the financial statements at its fair value unless its fair value cannot be measured reliably, in which case the cost to the donor or the resale value of goods is used.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities

Charitable expenditure comprises those costs incurred by the charitable company in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include costs attributable to the charitable company's compliance with constitutional and statutory requirements, include independent examination, strategic management Trustees' meetings and reimbursed expenses.

continued...

Page 14

Basingstoke Voluntary Action

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

1. ACCOUNTING POLICIES - continued

Allocation and apportionment of costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, staff costs by the time spent and other costs by their usage.

Amounts charged between internal funds for project management and service charges are included in income.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 15% on cost Computer equipment - 20% on cost

Taxation

The charity is exempt from corporation tax on its income and gains to the extent that such income or gains are applied exclusively to charitable purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

Staff in employment prior to 1 June 2007 remain participants in the Hampshire County Council pension scheme, which is a defined benefit pension scheme. The accounting policy in respect of defined benefit pension schemes is shown in the relevant note to the accounts.

Staff in employment at 1 June 2007 participate in the 'Flexible Retirement Plan' operated by The Pensions Trust, which is a defined contribution scheme. Contributions are charged to the profit and loss account for the year in which they are payable to the scheme. Any contributions payable to the scheme at the year-end are included in creditors.

Going concern

The financial statements have been prepared on a going concern basis after taking into account the current risks relating to COVID-19.

The Trustees assess whether the use of the going concern basis is appropriate and whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable company to continue as a going concern. The Trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

There is no expectation that the pension fund will need ot be distributed in full in the next twelve months and therefore there will be no requirement to make good the pension fund deficit in that period. The trustees are of the opinion that, excluding the pension fund deficit, the charitable company has sufficient reserves and on this basis consider it appropriate to prepare the financial statements on a going concern basis.

continued...

Page 15

Basingstoke Voluntary Action

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

2. DONATIONS AND LEGACIES

Donations
Grants
Donated services or facilities
Grants received, included in the above, are as follows:
Local and central government grants
Grants from other charities and organisations
3.
INVESTMENT INCOME
Dividends and interest rec'd
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Charitable operations
Facilities management
5.
CHARITABLE ACTIVITIES COSTS
Facilities management
Donated services and facilities		 Direct
Costs
£
6,312
-
6,312		 31.3.22
£
3,030
412,646
96,690
512,366
31.3.22
£
308,757
103,889
412,646
31.3.22
£
44
31.3.22
£
179,298
Support
costs (see
note 6)
£
477,911
96,690
574,601		 31.3.21
£
70,599
294,420
94,794
459,813
31.3.21
£
248,586
45,834
294,420
31.3.21
£
126
31.3.21
£
146,590
Totals
£
484,223
96,690
580,913

Donated services and facilities relate to the use of 'The Orchard' building that Basingstoke Voluntary Action occupies. In relation to business rates, the charitable company receives 80% mandatory charitable relief from the UK government and 20% discretionary relief from Basingstoke and Deane Borough Council. This equated to an annual charge of £54,190 (2021: 52,294).

The charitable company also receives a subsidy in relation to rental costs, of which further details can be found in the note on lease commitments.

continued...

Page 16

Basingstoke Voluntary Action

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

6. SUPPORT COSTS

Facilities management
Donated services and facilities
Facilities management
Donated services and facilities
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 Information
Finance
technology
£
£
676
31,831
-
-
676
31,831
Admin
Premises
£
£
42,383
85,170
-
96,690
42,383
181,860
31.3.22
£
6,311		 Human
resources
£
317,851
-
317,851
Totals
£
477,911
96,690
574,601
31.3.21
£
7,090

7. NET INCOME/(EXPENDITURE)

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2021.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 31.3.22
£
272,769
14,729
30,353
317,851		 31.3.21
£
199,826
8,110
28,002
235,938

The total employee benefits of the key management personnel of the charitable company were £80,899 (2021: £77,233).

The average monthly number of employees during the year was as follows:

31.3.22 31.3.21
Full-time headcount 3 2
Part-time headcount 13 13
16 15

No employees received emoluments in excess of £60,000.

continued...

Page 17

Basingstoke Voluntary Action

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 414,254 45,559 459,813
Charitable activities
Facilities management 146,590 - 146,590
Investment income 126 - 126
Total 560,970 45,559 606,529
EXPENDITURE ON
Charitable activities
Facilities management 410,002 101,925 511,927
Donated services and facilities 94,794 - 94,794
Total 504,796 101,925 606,721
NET INCOME/(EXPENDITURE) 56,174 (56,366) (192)
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes 4,000 - 4,000
Net movement in funds 60,174 (56,366) 3,808
RECONCILIATION OF FUNDS
Total funds brought forward (338,132) 88,895 (249,237)
TOTAL FUNDS CARRIED FORWARD (277,958) 32,529 (245,429)
11. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£ £ £
COST
At 1 April 2021 and 31 March 2022 81,011 33,176 114,187
DEPRECIATION
At 1 April 2021 48,791 29,561 78,352
Charge for year 5,521 790 6,311
At 31 March 2022 54,312 30,351 84,663
NET BOOK VALUE
At 31 March 2022 26,699 2,825 29,524
At 31 March 2021 32,220 3,615 35,835

continued...

Page 18

Basingstoke Voluntary Action

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22 31.3.21
£ £
Trade debtors 14,210 20,767
Other debtors 420 443
Prepayments and accrued income 9,111 22,222
23,741 43,432

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Accruals and deferred income		 31.3.22
£
38,585
70,410
19,983
128,978		 31.3.21
£
12,087
81,770
48,251
142,108

14. LEASING AGREEMENTS

The building that the charitable company occupies, 'The Orchard' is owned by Basingstoke and Deane Borough Council. It is currently provided by the Council free of lease costs and business rates. The trustees do not envisage a charge for these costs being levied on the charitable company in the future.

The total lease charge recognised as an expense during the year was £42,500 (2021: £42,500). The 100% subsidy received from Basingstoke and Deane Borough Council.has been recognised as income from donated services and facilities in combination with the subsidised business rates.

The charitable company is committed to the lease agreement until October 2025 and the annual charge is set at £42,500. The total future minimum lease payments is expected to be nil, given that a 100% subsidy applied by the Council.

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
funds
£
Fixed assets
29,524
Current assets
385,703
Current liabilities
(128,978)
Pension liability
(321,000)
(34,751)		 Restricted
funds
£
-
111,117
-
-
111,117		 31.3.22
Total
funds
£
29,524
496,820
(128,978)
(321,000)
76,366		 31.3.21
Total
funds
£
35,835
377,844
(142,108
(517,000
(245,429

continued...

Page 19

Basingstoke Voluntary Action

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

16. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Orchard
Designated funds
Orchard sinking fund
Restricted funds
Green investment grant
Reboot IT
Afghan Resettlement
TOTAL FUNDS
Net movement in funds, included in the above are a
Unrestricted funds
General fund
Orchard
Rent and rates B&DBC
Restricted funds
BBC Children in Need
Reboot IT
Afghan Resettlement
TOTAL FUNDS		 At 1.4.21
£
(381,828)
66,769
35,000
2,100
(277,959)
25,974
6,556
-
32,530
(245,429)
s follows:
Incoming
resources
£
308,118
162,684
96,690
567,492
14,179
9,668
100,369
124,216
691,708		 Net
movement
in funds
£
235,426
7,782
-
-
243,208
-
658
77,929
78,587
321,795
Resources
expended
£
(283,692)
(154,902)
(96,690)
(535,284)
(14,179)
(9,010)
(22,440)
(45,629)
(580,913)		 Transfers
between
At
funds
31.3.22
£
£
(12,000)
(158,402)
(6,600)
67,951
12,000
47,000
6,600
8,700
-
(34,751)
-
25,974
-
7,214
-
77,929
-
111,117
-
76,366
Gains and
Movement
losses
in funds
£
£
211,000
235,426
-
7,782
-
-
211,000
243,208
-
-
-
658
-
77,929
-
78,587
211,000
321,795

continued...

Page 20

Basingstoke Voluntary Action

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Orchard
Designated funds
Orchard sinking fund
Restricted funds
Camrose Centre
Mayors Charity Appeal
BDBC Social Inclusion
LIF grant
Green investment grant
Reboot IT
TOTAL FUNDS		 At 1.4.20
£
(398,578)
60,446
-
-
(338,132)
53,591
3,216
713
281
31,094
-
88,895
(249,237)		 Net
movement
in funds
£
51,750
8,423
-
-
60,173
(53,591)
(3,216)
(713)
(281)
(5,120)
6,556
(56,365)
3,808		 Transfers
between
funds
£
(35,000)
(2,100)
35,000
2,100
-
-
-
-
-
-
-
-
-		 At
31.3.21
£
(381,828)
66,769
35,000
2,100
(277,959)
-
-
-
-
25,974
6,556
32,530
(245,429)

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Orchard
Rent and rates B&DBC
Restricted funds
Camrose Centre
Mayors Charity Appeal
BDBC Social Inclusion
LIF grant
Green investment grant
BBC Children in Need
Reboot IT
TOTAL FUNDS		 Incoming
resources
£
312,623
153,553
94,794
560,970
32,818
-
-
-
-
3,279
9,462
45,559
606,529		 Resources
expended
£
(264,873)
(145,130)
(94,794)
(504,797)
(86,409)
(3,216)
(713)
(281)
(5,120)
(3,279)
(2,906)
(101,924)
(606,721)		 Gains and
Movement
losses
in funds
£
£
4,000
51,750
-
8,423
-
-
4,000
60,173
-
(53,591)
-
(3,216)
-
(713)
-
(281)
-
(5,120)
-
-
-
6,556
-
(56,365)
4,000
3,808

continued...

Page 21

Basingstoke Voluntary Action

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Orchard
Designated funds
Orchard sinking fund
Restricted funds
Camrose Centre
Mayors Charity Appeal
BDBC Social Inclusion
LIF grant
Green investment grant
Reboot IT
Afghan Resettlement
TOTAL FUNDS		 At 1.4.20
£
(398,578)
60,446
-
-
(338,132)
53,591
3,216
713
281
31,094
-
-
88,895
(249,237)		 Net
movement
in funds
£
287,176
16,205
-
-
303,381
(53,591)
(3,216)
(713)
(281)
(5,120)
7,214
77,929
22,222
325,603		 Transfers
between
funds
£
(47,000)
(8,700)
47,000
8,700
-
-
-
-
-
-
-
-
-
-		 At
31.3.22
£
(158,402)
67,951
47,000
8,700
(34,751)
-
-
-
-
25,974
7,214
77,929
111,117
76,366

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
620,741
(548,565)
Orchard
316,237
(300,032)
Rent and rates B&DBC
191,484
(191,484)
1,128,462
(1,040,081)
Restricted funds
Camrose Centre
32,818
(86,409)
Mayors Charity Appeal
-
(3,216)
BDBC Social Inclusion
-
(713)
LIF grant
-
(281)
Green investment grant
-
(5,120)
BBC Children in Need
17,458
(17,458)
Reboot IT
19,130
(11,916)
Afghan Resettlement
100,369
(22,440)
169,775
(147,553)
TOTAL FUNDS
1,298,237
(1,187,634)		 Gains and
Movement
losses
in funds
£
£
215,000
287,176
-
16,205
-
-
215,000
303,381
-
(53,591)
-
(3,216)
-
(713)
-
(281)
-
(5,120)
-
-
-
7,214
-
77,929
-
22,222
215,000
325,603

continued...

Page 22

Basingstoke Voluntary Action

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

17. EMPLOYEE BENEFIT OBLIGATIONS

Defined contribution pension scheme

The charitable company operates defined contribution pension schemes. The pension cost charge for the year represents contributions payable by the charitable company to the schemes and amounted to £9,963 (2021: £7,786).

Contributions totalling £417 (2021: £538) were payable to the schemes at the end of the year and are included in creditors.

Defined benefit pension scheme

The charitable company participates in the Hampshire County Council defined benefit pension scheme, which provides defined benefits based on members' final pensionable salary. The assets of the scheme are held and managed separately from those of the charitable company.

Actuarial gains and losses, current or past service costs and gains, as determined by the scheme's actuary, and pension and finance costs or income are included within 'Other recognised gains and losses' on the Statement of Financial Activities. Prior to this, only the actuarial contributions paid into the scheme and any associated administration costs were recognised.

The date of the most recent comprehensive actuarial valuation was 31 March 2019. Liabilities have been estimated by the independent qualified actuary on an actuarial basis using the projected unit credit method.

The total cost relating to defined benefit schemes for the year recognised in profit or loss as an expense was £20,390 (2021: £19,892).

The deficit on the scheme, representing the shortfall on the value of the scheme assets below the present value of the scheme liabilities, is now recognised as a liability on the balance sheet to the extent that the employer charitable company has a legal or constructive obligation for the liability. A corresponding pension reserve is included within the total unrestricted funds.

Reconciliation of scheme assets and liabilities to assets and liabilities recognised

The amounts recognised in the Statement of Financial Activities are as follows:

Current service cost
Net interest from net defined benefit
asset/liability
Past service cost
Actual return on plan assets		 Defined benefit
pension plans
31.3.22
31.3.21
£
£
10,000
8,000
10,000
12,000
-
-
20,000
20,000
99,000
256,000		 Defined benefit
pension plans
31.3.22
31.3.21
£
£
10,000
8,000
10,000
12,000
-
-
20,000
20,000
99,000
256,000
20,000
256,000

continued...

Page 23

Basingstoke Voluntary Action

Notes to the Financial Statements - continued

for the Year Ended 31 March 2022

17. EMPLOYEE BENEFIT OBLIGATIONS - continued

Changes in the present value of the defined benefit obligation are as follows:

Opening defined benefit obligation
Current service cost
Contributions by scheme participants
Interest cost
Actuarial losses/(gains)
Benefits paid		 Defined benefit
pension plans
31.3.22
31.3.21
£
£
2,003,000
1,764,000
10,000
8,000
1,000
1,000
41,000
40,000
(112,000)
252,000
(62,000)
(62,000)
1,881,000
2,003,000		 Defined benefit
pension plans
31.3.22
31.3.21
£
£
2,003,000
1,764,000
10,000
8,000
1,000
1,000
41,000
40,000
(112,000)
252,000
(62,000)
(62,000)
1,881,000
2,003,000
2,003,000

Changes in the fair value of scheme assets are as follows:

Opening fair value of scheme assets
Contributions by employer
Contributions by scheme participants
Interest income on assets
Actuarial gains/(losses)
Benefits paid
The amounts recognised in other recognised gains and losses are as follows:
Actuarial gains/(losses)		 Defined benefit
pension plans
31.3.22
31.3.21
£
£
1,486,000
1,258,000
5,000
5,000
1,000
1,000
31,000
28,000
99,000
256,000
(62,000)
(62,000)
1,560,000
1,486,000
Defined benefit
pension plans
31.3.22
31.3.21
£
£
211,000
4,000
211,000
4,000		 Defined benefit
pension plans
31.3.22
31.3.21
£
£
1,486,000
1,258,000
5,000
5,000
1,000
1,000
31,000
28,000
99,000
256,000
(62,000)
(62,000)
1,560,000
1,486,000
Defined benefit
pension plans
31.3.22
31.3.21
£
£
211,000
4,000
211,000
4,000
4,000

The major categories of scheme assets as a percentage of total scheme assets are as follows:

Equities
Bonds
Multi Asset Credit
Property
Cash
Other		 Defined benefit
pension plans
31.3.22
31.3.21
55.70%
57.00%
18.00%
17.30%
9.20%
-
6.90%
6.10%
0.90%
1.40%
9.30%
18.20%
100.00%
100.00%		 Defined benefit
pension plans
31.3.22
31.3.21
55.70%
57.00%
18.00%
17.30%
9.20%
-
6.90%
6.10%
0.90%
1.40%
9.30%
18.20%
100.00%
100.00%
100.00%

continued...

Page 24

Basingstoke Voluntary Action

Notes to the Financial Statements - continued for the Year Ended 31 March 2022

17. EMPLOYEE BENEFIT OBLIGATIONS - continued

Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):

31.3.22 31.3.21
Discount rate 2.80% 2.10%
Future salary increases 4.10% 3.70%
Future pension increases 3.10% 2.70%
Pension accounts revaluation rate 3.10% 2.70%
CPI Inflation 4.10% 2.70%

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

Page 25