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2024-03-31-accounts

Company number: 3988903 Charity Number: 1081654

Voluntary Sector North West

Report and financial statements For the year ended 31 March 2024

Voluntary Sector North West

Reference and administrative information

for the year ended 31 March 2024

Company number 3988903 Charity number 1081654

Registered office and operational address 3rd Floor Swan Buildings, 20 Swan Street, Manchester, M4 5JW

Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Sally Yeoman Chair Alison Page Chair (resigned 1 June 2023) Gill Bainbridge Treasurer Circle Steele Margaret Cheshire Yakub Patel (appointed 20 April 2023) Jeremy Hodgkinson (appointed 17 May 2023)

Key management Warren Escadale Chief Executive personnel Yen Siang Tan Operations Director

Bankers The Co-operative Bank plc P.O. Box 250, Skelmersdale, WN8 6WT Unity Trust Bank

PO Box 7193, Planetary Road, Willenhall, WV1 9DG Auditors Slade & Cooper Limited Beehive Mill, Jersey St, Manchester, M4 6JG

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Voluntary Sector North West

Trustees’ annual report

for the year ended 31 March 2024

The trustees present their report and the audited financial statements for the year ended 31 March 2024. Included within the trustees’ report is the directors’ report as required by company law.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The Charity's objects ("the Objects") were updated on 26 September 2000. They are: To promote such purposes as are charitable according to the law of England and Wales for the benefit of the public in the North West of England by:

(a) Providing a channel of information between voluntary organisations and local and central government agencies or other organisations in the region.

(b) Providing a network of communication for voluntary organisations and agencies in the region.

(c) Bringing together representatives from voluntary organisations, statutory authorities and other agencies in the region to identify the funding and policy needs of voluntary organisations.

The area of benefit, the North West of England is defined as the ceremonial counties of Lancashire, Cheshire, Greater Manchester, Cumbria and Merseyside.

Ensuring our work delivers our object & aims

The Trustee Board of VSNW reviews the aims, objectives and activities of the charity each year to ensure activities remain focused on our stated purposes. The trustees established in consultation with member organisations, a strategic plan for 2022-2025. The following four strategic aims were established:

Underpinning this is our annual delivery plan, high level KPIs, and work to ensure VSNW is a well governed and financially sound organisation. This report looks at what the Charity has achieved and the outcomes of its work in the reporting period. The Trustees report the success of each key activity and the benefits the Charity has brought to those groups of people that it is set up to help. The Trustees have referred to the

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Voluntary Sector North West

Trustees’ annual report

for the year ended 31 March 2024

guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.

Achievements and performance

The Charity’s principal activities and target beneficiaries are outlined below. All charitable activities are carried out to advance public benefit in line with Voluntary Sector North West’s (VSNW) charitable objectives.

During the year, we continued to deliver on VSNW’s mission, strategic aims, and the priorities set for 20222025. This ensured that our efforts remained aligned with the needs of the North West’s voluntary and community sector while reflecting the broader priorities of the region.

Core Activities

The North West is a diverse region, consisting of five sub-regions (Cheshire, Cumbria, Greater Manchester, Merseyside and Lancashire) with a mixture of economic success and areas of marginalisation. Through our members and networks, we maintain connections with over 50,000 organisations and groups working across the region's communities. VSNW’s work is centred around three core elements:

This work ensures that we remain at the forefront of supporting the voluntary sector in driving social and economic progress across the North West.

The report illustrates our performance in delivering VSNW’s strategic priorities and our high-level metrics.

Strategic priority: Increase connectivity within the VCFSE sector

Our vision is: “ Through the strengths of the VCFSE sector, put communities in charge of driving change. ” To fulfil this vision, we continue to foster and support healthy, connected partnerships that bring value to the sector in each sub-region. By leveraging local networks and relationships, we focus on maximising positive impact. Supporting strong partnerships across the North West’s VCFSE sector remains at the core of our operating model.

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Trustees’ annual report

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In 2023/24, VSNW provided formal support to VCFSE partnerships in Cheshire and Warrington, Liverpool City Region, Lancashire, and Greater Manchester. In Cumbria, where Cumbria CVS leads this work, we complemented their efforts by building connections and offering alternative support.

In Liverpool City Region (LCR) , VSNW, through Laura Tilston (Research and Policy Manager), Francesca McIntosh (Research and Communications Co-ordinator) and Yoaby Tsang (Events, Admin and Membership Officer), provides support to the VS6 Partnership. VS6, through the 2021/24 VCFSE Manifesto developed, delivered in partnership and connected to the 11,500 groups operating across the City Region, continued to champion VCFSE-led models of delivery to address social, economic and health inequalities.

During the year, VS6 developed VCFSE networks to tackle food poverty, support digital inclusion, mental wellbeing and VCFSE-models of wealth creation. Building on work to champion race equality, and through the leadership of One Knowsley’s CEO Racheal Jones, VS6 and VSNW supported the beginnings of the new Cheshire and Merseyside Ethnic Communities Network which now has over a 100 member organisations. The region now has three ethnic community networks up and running across Lancashire & South Cumbria, Greater Manchester and Cheshire & Merseyside. A further major achievement in Liverpool City Region, was the launch of The LCR Volunteering Hub which provides a single front door for volunteers and organisations looking to recruit and manage volunteers in the City Region.

In Lancashire , we connect to two partnerships: firstly, working in support of the VCFSE Lancashire & South Cumbria Alliance; secondly, following our development work on the Locally Organised Communities Across Lancashire (LOCAL) VCFSE Manifesto, the movement being created behind this headed by the Lancashire Association of CVS. Through this work we look to connect with as many of the 10,000 local groups as possible.

In Greater Manchester (GM), VSNW through the work of Anna Cooper (Greater Manchester Programme Manager), Kassandra Banks (Partnerships Officer) and Tom Jackson (Communications Officer), VSNW continues to provide secretariat support to the Greater Manchester VCFSE Leadership Group. Our Chief Executive, Warren Escadale, currently serves as the chair.

The Leadership Group connects with and supports collaboration across a wide range of VCFSE networks, representing diverse communities such as Black, Asian, and minority ethnic groups, older people, young people, LGBTQ+, disability, faith communities, carers, mental health advocates, sports organisations, refugees and women. This partnership model includes key partners like 10GM and GMCVO, social enterprises, and VCFSE service providers, such as the groundbreaking Alternative Provider Collaborative. The Leadership Group has a direct mailing list of over 1,500 sector leaders and, collectively, through infrastructure bodies and equalities networks, the group is linked to the 17,000 plus VCFSE organisations and groups working for Greater Manchester’s communities.

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Warren Escadale, Alison Cullen (CWIP’s lead for health and care work) and Yoaby Tsang have been key parts of our support for the Cheshire and Warrington Infrastructure Partnership (CWIP) and links to the 8,000 local VCFSE organisations.

Through VS6, CWIP and the Cheshire and Merseyside VCFSE Health and Care Leaders Group (HCLG) we have looked to link the sector into a rapidly change health and care environment, supporting mechanisms and connections for sector voice and accountability. Now in its second year, the HCLG works closely with 60 plus sector connected leaders from across Cheshire and Merseyside, ensuring the voice of infrastructure, equalities organisations and providers.

We maintain a robust stakeholder contact list, which includes VCFSE Chief Executives and senior staff from across the region. These stakeholders receive a range of bulletins, such as those from VSNW, GM VCFSE Leadership, VS6 Partnership, Social Prescribing, and GM Cancer Champions.

VSNW managed 128 events, network meetings, roundtables, and workshops with 695 different North West VCFSE leaders and supported 17 strategic VCFSE networks in 2023-24. This level of engagement marks significant activity in line with the Board’s ambitious KPI to engage 1,000 different VCFSE leaders.

As of 31st March 2024, VSNW membership includes 190 members, consisting of 128 full members and 62 associate members.

Going forward the organisation continues to invest in internal capacity from reserves in order to ensure we can reach across the North West, and engage larger numbers of VCFSE leaders and organisations..

Strategic priorities: Enable influence and be an effective voice for the sector

Through consultation, task and finish groups, workshops, and surveys, we have helped to develop collective, sector-led strategies and implementation plans across the North West. These include manifestos and delivery plans for the sector in Liverpool City Region (VCFSE Manifesto 24/28), Lancashire (LOCAL Manifesto), Cheshire and Warrington (setting core priorities) and Greater Manchester (VCFSE Manifesto 24/28). At our series of Metro-Mayor hustings, held with just under 200 sector leaders, Steve Rotheram and Andy Burnham signed their respective VCFSE manifesto, and confirmed their continued commitment to working with us as a sector and as a partner.

Over the last two years, our influencing and demonstration of the sector’s value, has resulted in £18.4m investment into the sector , this includes £7.1m in 2023/24 against a board KPI of £5m. This investment supports the sector’s role in skills and employment, health and social care, tackling poverty, community-led economic development, and wellbeing and prevention. While we feel this is a notable achievement, we recognise that our work, alongside our partners, has driven far greater investment into the local sector than any single VCFSE organisation could accomplish independently. In terms of impact, one element of this

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investment (LCR Cares, £400k), benefited at least 15,000 people in terms of digital inclusion, wellbeing support, and community wealth-building. This work was made possible with the help of over 500 volunteers.

Through our work and our partnerships, we have been able to champion the VCFSE role in essential, community-centred delivery and look to be an effective voice for the sector: supporting people out of hospital to stay healthy and home, championing community ownership, advancing food strategies beyond foodbanks, provision of warm hubs, tackling digital exclusion, supporting the sector role in the criminal justice system, ensuring the sector role in the skills and employment pipeline, influencing public sector commissioning, procurement and fair funding for groups, supporting sector workforce initiatives, championing new partnerships with NHS Providers through place-partnerships and the Alternative Provider Collaboration (Greater Manchester), advancing the sector role in mental health and wellbeing, supporting volunteering and access to volunteering, building large-scale grass-roots and sector-led initiatives around cancer prevention and other health conditions, championing VCFSE partnerships with primary care including and beyond social prescribing, developing VCFSE children and young people services and models, pushing for VCFSE good employment models, sector role in and needs around net zero, sector intelligence and models of coproduction, sector access to data and research, sector role in tackling homelessness, in local regeneration and in creating welcoming communities for refugees and asylum seekers.

Our work in population health, as one example of the above, has helped develop new VCFSE-led models of working with the sector. The Answer Cancer Programme has pioneered new models of working with the sector: mobilising hundreds of community organisations and 4,621 community champions, providing on the ground engagement, campaign-tools, training and grants. The work of Jacqui Naraynsingh (VSNW Project Coordinator) and Fiona Chow (Database and Admin Officer) and Yen Siang Tan (Operations Director) have been fundamental to the success of our work in partnership with Salford CVS (Programme lead), BHA for Equality and Unique Improvements. Through our Bee Seen, Get Screened Campaign, over 80,000 people can now access paid time off to attend NHS cancer screenings. Answer Cancer continues to demonstrate the vital role of the VCFSE sector in tackling health inequality and driving population health and prevention initiatives, particularly in communities where previous models and approaches have been less successful.

Through our regional partnerships, the sector now has streamlined means to appoint and support sector representation at the highest levels across the region. Kassandra Banks (Partnerships Officer), with a good deal of debt to colleagues in Lancashire and South Cumbria VCFSE Alliance, has driven this work forward such that in Greater Manchester, there are 50 leaders sitting on just under 100 boards and committees, representing our sector and communities.

The North West is now the first region to have the VCFSE sector as full partner members on all of our Integrated Care NHS Boards, a full set of health inequalities strategies with the sector embedded, the sector universally embedded in currently delivering the post-EU UK Shared Prosperity Fund programme, and clear,

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published evidence of the size and scope of the sector across the North West. As part of this, VSNW, VS6 and CWIP, launched the flagship Cheshire and Merseyside State of the Sector Report . The report evidences the size, scale and scope of the VCFSE sector across Cheshire and Merseyside and is being widely shared, embedded in Steve Rotheram’s own manifesto and soon to be presented to the chairs of our 17 acute trusts.

Our Cheshire and Merseyside (C&M) VCFSE Health and Care Transformation Programme secured over £400k funding from NHS C&M in 2023-2024 and shows the integrated care boards commitment to recognising the sector as an equal strategic and delivery partner.

This commitment to the sector and VSNW, is repeated in our work with the Greater Manchester Combined Authority and NHS via the Accord, where VSNW works with a broad and diverse range of VCFSE Leaders and in partnership with 10GM and GMCVO.

As of April 2024, the VS6-Lottery Reaching Communities project, managed on behalf of VS6, successfully completed and we continue to support the VS6 Partnership through a new VCFSE manifesto, with ambitions for how the sector can nurture a stronger, inclusive economy.

Last year also marked the start for us in terms of developing a new set of partnerships and relationships with the region’s National Institute for Health and Care Research (NIHR) agencies. Francesca McIntosh (Research & Engagement Coordinator), has led on this work, working with NIHR agencies who have now formally committed to working in partnership with the sector. Francesca and Emma Newman (Communications Officer) are now developing tools and models to scale up sector-academia partnership working.

Nationally , we have maintained our links to NHS England’s voluntary sector team. Over the past five years, we have successfully lobbied for a VCSE Partnership programme, linked to the NHS’s 42 Integrated Care Systems (ICS), modelled on our work in Greater Manchester, to be rolled out. VCSE Partnerships or Alliances are now established right across England, this includes all four areas that operate in the North West (Cheshire & Merseyside, Lancashire and South Cumbria, Greater Manchester, North East and North Cumbria).

While our Social Prescribing programme for groups in the North West, led on by Burnley, Pendle and Rossendale CVS and funded through NASP, came to an end in September, we continue to be a voice for sector as a member of National Social Prescribing Network steering group

For our regional work, VSNW has been successful in securing 4 year funding from the Lottery, to deliver the “ VCFSE Sector influencing the Future of the North West project ” providing us with the means to scale up our work, including influencing commissioning and procurement, fair funding, codesign and coproductions models, sector’s role in skills and employment, sector role in health creation and links to the convention of the north and emerging Combined Authorities. Laura Tilston (Research and Policy Manager), Emma Newman, Yen Siang Tan (Operations Director) and Warren Escadale are working on the programme, which

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sets VSNW well for supporting the sector in the North West as new challenges and opportunities, and new ways of working and influencing, head towards our sector.

An effective NW VCFSE leadership organisation

The Board has prioritised ensuring VSNW is a fit-for-purpose organisation with the capacity to connect, influence, and drive positive change in the sector. Our organisational development has progressed steadily, maintaining 12 staff roles as of March 2024. Our development supports new projects, including the VCFSE Sector influencing the Future of the North West, funded by the Lottery, and the ICS Research Engagement Network Development Programme, broadening our reach and influence.

Income generation is strong, with long-term funding secured for projects in Greater Manchester and Cheshire & Merseyside until 2026. A 4 year funding was secured from the Lottery to deliver the “VCFSE Sector influencing the Future of the North West project”, which offers opportunities and capacity to do more across the North West, the North and nationally.

Yen Siang Tan, Operations Director, working with the Chief Executive, Board and colleagues, continues to play a key role in VSNW’s operations and ongoing development. In terms of leadership, and the Board continues to work effectively in guiding and supporting VSNW's strategic direction.

Plans for the Future

VSNW will continue to deliver against the current strategic plan 2022/25, and seek to develop the following strategic plan with members once there is greater clarity on the political and policy landscape. We know that there are likely to be significant changes linked to devolution in particular, and uncertainty over significant investment streams like the Shared Prosperity Fund.

In order to boost internal capacity, and support good practice in managing reserves, the board has designated £62,583. This investment includes additional support for engagement, membership and event activity which will help increase our ability to meet ambitious headline key performance indicators around engagement and membership in particular.

Financial review

The charity held reserves of £564,885 at the year end (2023: £429,240) of which £74,511 (2023: £8,840) were restricted and £107,036 (2023: £11,970) designated leaving a general reserve of £383,338 (2023: £408,430). VSNW is in a reasonable financial position at this point. A review of our financial position is conducted quarterly by the Resources Group and is then considered by the Trustee Board. This review is ongoing.

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Reserves policy

The VSNW reserves policy is to maintain sufficient levels of reserves for the delivery of existing programs of work to be completed and/or transferred to alternative providers should a shortfall in income occur. The required time to do this effectively is a minimum 6 months and the level of reserves required to achieve this is £130,265.

The general reserve, as stated above, is higher than this, however, given the short term funding environment and reliance on short-term and project funding, we will periodically review our reserves.

Structure, governance and management

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 10 April 2000 and registered as a charity on 19 February 1998.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2024 was 128 full members. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 9 to the accounts.

Trustee selection methods

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles. Under the requirements of the Memorandum and Articles of Association half the members of the Trustee Board elected to serve must be re-elected at the Annual General Meeting.

Both business and strategic skills are required on the Trustee Board and the Board has made a firm commitment to appoint trustees with strong strategic connections to the VCSE sector in each subregion whilst also being sensitive to inclusion and diversity. An annual skills audit is conducted to identify any skills gaps.

Trustees are appointed via an electoral process at the Annual General Meeting elections. Other Trustees can be co-opted by the Trustee Board throughout the year, in accordance with the constitution. The Trustee Board meets every six weeks.

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Induction and training of trustees

New Trustees meet with the Chair and Chief Executive where the current financial position and the governing framework are presented, and the obligations of Board members and future plans and objectives are outlined. The NCVO booklet Trustees and Trustees Members National Occupational Standards is given to all new trustees.

Organisational structure

VSNW has a Trustee Board of up to 12 members who are responsible for the strategic direction and policy of the charity. As at 31st March 2024 the Board has six members from a variety of backgrounds relevant to the work of the charity.

VSNW’s decision making process rests with the Trustee Board. Decisions regarding implementation of the charity’s work and staff supervision are delegated to the Chief Executive, who has one-to-ones with the Chair.

Sub groups are established and agreed by the Trustees to meet between Trustee Board meetings to address any issues that require immediate attention and report any actions for agreement to the full Trustee Board.

The Board delegates day-to-day management of the charity to the Chief Executive, Warren Escadale. The Board takes advice from VSNW staff, in particular the Chief Executive and the Operations Director, Yen Siang Tan, and are informed by their relationships with VSNW's subregional VCFSE partnerships and their own VCFSE organisations, networks and partnerships operating in VSNW's area of benefit, North West England.

Related parties and relationships with other organisations

In so far as it is complementary to the charity’s objectives, VSNW is guided by local, regional and national policy. Sub regional partnerships ensure engagement with thematic, geographic and specialist VCSE infrastructure and provides VSNW with a wide reach into the VCSE sector across the region.

Remuneration policy for key management personnel

A subgroup of the board reviews remuneration with advice from our HR consultant, using comparable pay rates within and beyond the sector, including equivalent relationships.

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Voluntary Sector North West

Trustees’ annual report

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Risk management

The Trustee Board conducts a risk analysis with its budget at outset each year. There is a Risk Register and Policy in place and the register is reviewed on a regular basis. Procedures are implemented internally to ensure proper authorisation for all transactions and projects. Procedures are in place to ensure Health and Safety compliance. These are currently under review for future improvement.

Fundraising

VSNW did not conduct public fundraising activities in 2023/24.

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Voluntary Sector North West

Trustees’ annual report

for the year ended 31 March 2024

Statement of responsibilities of the trustees

The trustees (who are also directors of Voluntary Sector North West for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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 for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Voluntary Sector North West

Trustees’ annual report

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Auditors

Slade & Cooper Ltd were re-appointed as the charitable company's auditors during the year and have expressed their willingness to continue in that capacity.

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.

The trustees’ annual report has been approved by the trustees on 29[th] October 2024 and signed on their behalf by

Sally Yeoman (Chair)

Gill Bainbridge (Treasurer)

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Independent auditor’s report

to the members of Voluntary Sector North West

Opinion

We have audited the financial statements of Voluntary Sector North West (the ‘charitable company’) for the year ended 31 March 2024, which comprise the Statement of Financial Activities (including the income and expenditure account), the Balance Sheet, the Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Prior year unaudited

The financial statements of Voluntary Sector North West for the year ended 31 March 2023 were unaudited. An independent examination was performed which expressed an unmodified opinion on those statements.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability

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Independent auditor’s report

to the members of Voluntary Sector North West

to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Independent auditor’s report

to the members of Voluntary Sector North West

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

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Independent auditor’s report

to the members of Voluntary Sector North West

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Christy Yun Hing Lau FCCA DChA CTA Senior Statutory Auditor

for and on behalf of

Slade & Cooper Limited Statutory Auditors Beehive Mill Jersey Street Manchester M4 6JG 20[th] December 2024

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Voluntary Sector North West

Statement of Financial Activities

(including Income and Expenditure account) for the year ended 31 March 2024

Unrestricted
funds
Note
£
Income from:
Charitable activities:
3
535,606
Total income
535,606
Expenditure on:
Charitable activities:
4
465,632
Total expenditure
465,632
69,974
7
69,974
Transfer between funds
-
Net movement in funds for the year
69,974
Reconciliation of funds
Total funds brought forward
420,400
Total funds carried forward
490,374
Net income/(expenditure) before
net gains/(losses) on investments
Net income/(expenditure) for the
year		 Restricted
funds
£
792,634
792,634
726,963
726,963
65,671
65,671
-
65,671
8,840
74,511		 Total funds
2024
£
1,328,240
1,328,240
1,192,595
1,192,595
135,645
135,645
-
135,645
429,240
564,885		 Total funds
2023
£
600,178
600,178
603,080
603,080
(2,902)
(2,902)
-
(2,902)
432,142
429,240

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

A full comparative SOFA is available on the last page of the financial statements.

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Voluntary Sector North West Company number 3988903

Balance sheet as at 31 March 2024

Note
£
£
Fixed assets
Tangible assets
12
843
Total fixed assets
843
Current assets
Debtors
13
18,782
Cash at bank and in hand
14
658,852
Total current assets
677,634
Liabilities
Creditors: amounts falling
due in less than one year
15
(113,592)
Net current assets
564,042
Total assets less current liabilities
564,885
Net assets
564,885
The funds of the charity:
Restricted income funds
17
74,511
Unrestricted income funds
18
490,374
Total charity funds
564,885
2024		 £
£
1,781
1,781
218,760
275,143
493,903
(66,444)
427,459
429,240
429,240
8,840
420,400
429,240
2023		 £
£
1,781
1,781
218,760
275,143
493,903
(66,444)
427,459
429,240
429,240
8,840
420,400
429,240
2023
1,781
427,459
429,240
429,240
8,840
420,400
429,240

These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The notes on pages 21 to 36 form part of these accounts.

Approved by the trustees on 29/10/2024 and signed on their behalf by:

Sally Yeoman (Chair)

Gill Bainbridge (Treasurer)

19

Voluntary Sector North West

Statement of Cash Flows for the year ending 31 March 2024

Note
2024
£
Cash provided by/(used in) operating activities
20
383,709
383,709
Cash and cash equivalents at the beginning of the year
275,143
Cash and cash equivalents at the end of the year
658,852
Increase/(decrease) in cash and cash
equivalents in the year		 2023
£
(81,060)
(81,060)
356,203
275,143

20

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

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 the UK and Republic of Ireland (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.

Voluntary Sector North West meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees have made no key judgments which have a significant effect on the accounts.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

21

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

d Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e Interest receivable

Interest 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.

f Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their 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 charity’s work or for specific projects being undertaken by the charity.

g Expenditure and irrecoverable VAT

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

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h Tangible fixed assets

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Fixtures & fittings Computer equipment

5 years 3, 4 or 5 years

22

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

i Debtors

Trade 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.

j Cash at bank and in hand

Cash at bank and cash 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.

k Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l Financial instruments

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

m Pensions

Employees of the charity are opted into a Pension Scheme (defined contribution ‘money purchase’ schemes) with an employer’s contribution. The charity’s contribution is restricted to the contributions disclosed in note 8. There were outstanding contributions of £2,745 (2023: £2,599) at the year end.

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.

23

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

3 Income from charitable activities

Social Prescribing Network NW
NHS England
Salford CVS
VS6 (Reaching Community Fund)
GMCA (Accord)
National Lottery
Community Futures
Total
Social Prescribing Network NW
NHS England
Salford CVS
VS6 (Reaching Community Fund)
GMCA (Accord)
Other income
Total
Current reporting
period
Previous
reporting period
Lloyds Bank Foundation
Burnley Pendle & Rossendale
CVS (400 Voices)
VCFSE Transformation
Programme (Cheshire &
Merseyside)
C&M Research
VCFSE Transformation
Programme (Cheshire &
Merseyside)
(GM Cancer Screening
Engagement Project)
(GM Cancer Screening
Engagement Project)		 Unrestricted
£
-
-
-
-
-
526,826
-
4,280
4,500
535,606
Unrestricted
£
-
-
-
183,800
17,250
10,077
211,127		 Restricted
£
15,120
438,758
56,461
101,001
123,303
-
57,991
-
792,634
Restricted
£
40,470
143,758
113,608
91,215
-
-
-
389,051		 Total 2024
£
15,120
438,758
56,461
101,001
123,303
526,826
57,991
4,280
4,500
1,328,240
Total 2023
£
40,470
143,758
113,608
91,215
183,800
17,250
10,077
600,178

24

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

4 Analysis of expenditure on charitable activities

Staff costs
Other Staff costs
Administration
Accommodation
Associates/Sub-contractors
Conferences & events
Other project costs
Grants to institutions (see note 6)
Depreciation
Bad debt
Governance costs (see note 5)
Restricted expenditure
Unrestricted expenditure		 Total 2024
£
426,657
4,794
18,282
10,831
163,486
9,965
29,981
495,024
938
10,000
22,637
1,192,595
2024
£
726,963
465,632
1,192,595		 Total 2023
£
376,696
19,136
23,008
7,164
135,797
5,710
18,763
-
938
-
15,868
603,080
2023
£
392,267
210,813
603,080

25

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

5 Analysis of governance and support costs

Basis of
apportionment
Auditor fees
Governance
Professional fees
Governance
AGM and trustee costs
Governance
Basis of
apportionment
Independent examiner fees
Governance
AGM and trustee costs
Governance
Grants to institutions
Analysis of total grants paid:
10GM
Cheshire West Voluntary Action
Community & Voluntary Services Cheshire East
GMCVO
Halton & St Helens VCA
Liverpool Charity & Voluntary Services
One Knowsley
Sefton CVS
Warrington Voluntary Action
Wirral CVS
Previous
reporting period
Current reporting
period		 Governance
£
3,816
18,391
430
22,637
Governance
£
1,700
3,435
15,868
2024
£
202,965
20,000
20,000
112,059
40,000
20,000
20,000
20,000
20,000
20,000
495,024		 Total 2024
£
3,816
18,391
430
22,637
Total 2023
£
1,700
3,435
15,868
2023
£
-
-
-
-
-
-
-
-
-
-
-

6 Grants to institutions

26

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

7 Net income/(expenditure) for the year

This is stated after charging/(crediting):
Depreciation
Operating lease rentals:
Property
Auditor's / (2023: Independent examiner's) fees:
Accountancy
Audit
Independent examination
Bookkeeping
Payroll bureau
Staff costs
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs
Redundancy costs		 2024
£
938
10,831
1,180
2,000
-
1,100
394
2024
£
378,975
21,833
25,849
-
426,657		 2023
£
938
8,064
1,130
-
570
4,400
983
2023
£
322,313
28,375
22,529
3,479
376,696

8 Staff costs

No employees has employee benefits in excess of £60,000 (2023: Nil).

The average number of staff employed during the period was 12 (2023: 10).

The average full time equivalent number of staff employed during the period was 11 (2023: 10.8).

The key management personnel of the charity comprise the Chief Executive and the Operations Director. The total employee benefits of the key management personnel of the charity were £122,531 (2023: £101,324).

27

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

9 Trustee remuneration and expenses, and related party transactions

Neither the trustees nor any persons connected with them received any remuneration during the year (2023: Nil).

One (2023: four) member of the board of trustees received travel and subsistence expenses of £18 during the year (2023: £494).

GM Cancer Screening Engagement Project

In December 2018 VSNW worked in partnership with Salford CVS, BHA for Equality and Unique Improvements to secure a contract with NHS England (on behalf of GM Health and Social Care Partnership) in response to an OJEU tender to deliver the GM Cancer Screening Engagement Project. Salford CVS were the named lead provider within this partnership, on behalf of 10GM. The contract was awarded to this VCSE partnership (now known as Answer Cancer), with Salford CVS as the accountable body. Delivery commenced in the year 2019/20 and during 2023/24 Salford CVS made payments of £101,001 to VSNW (2023: £113,607) in relation to delivery of this project (as per the partnership’s revised budget submission). It should be noted that the former Chair of VSNW (resigned 01/06/2023), Alison Page, is also the Chief Executive of Salford CVS.

Cheshire and Merseyside NHS VCFSE Transformation Programme

This programme aims to drive better VCFSE integration and partnership with health and social care at system, local authority-level ('Place'), and health neighbourhood. Accordingly, the programme included £180,000 to support better Place-VCFSE partnership working. £20,000 was allocated for each of the nine Places (or boroughs) in Cheshire and Merseyside. The fund was open to VCFSE Strategic Place lead organisations, who had to complete an application form proposing how they would develop local sector-wide working relationships across their Place. Each proposal had to be signed and endorsed by their NHS Place Director and then reviewed by a cross-sector Cheshire and Merseyside panel. As part of this process, Halton and St Helens VCA, the VCFSE Strategic Place lead organisation for both Halton and St Helens was awarded funding to develop improved sector-wide Place-VCFSE partnerships. The Principles of Good Grant Making (Directory of Social Change) were followed throughout the process which included a number of additional checks and balances to ensure accountability. It should be noted that the Chair of VSNW, Sally Yeoman, is the Chief Executive of Halton and St Helens VCA.

28

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

10 Government grants

The government grants recognised in the accounts were as follows:

GMCA
Cheshire and Merseyside Health and Care
Partnership (via Liverpool CCG)		 2024
£
495,219
526,826
1,022,045		 2023
£
143,758
183,800
327,558

See note 17 for restricted funds carried forward. Conditions attached are to complete the project, which we expect to do in the forthcoming financial years.

11 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

12 Fixed assets: tangible assets

Cost
Disposals
Depreciation
Charge for the year
Net book value
At 31 March 2023
At 31 March 2024
At 31 March 2024
At 1 April 2023
At 1 April 2023
At 31 March 2024		 Fixtures &
fittings
£
500
-
500
500
-
500
-
-		 Computer
equipment
£
5,772
-
5,772
3,991
938
4,929
843
1,781		 £
6,272
-
Total
6,272
4,491
938
5,429
843
1,781

29

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

13
Debtors
2024
£
Grants and fees receivable
15,000
Bad debt provision
(10,000)
Prepayments and accrued income
13,782
18,782
14
Cash at bank and in hand
2024
£
Short term deposits
100,000
Cash at bank and on hand
558,852
658,852
15
Creditors: amounts falling due within one year
2024
£
Trade creditors
7,456
Short term compensated absences (holiday pay)
5,714
Other creditors and accruals
59,800
Deferred income (see note 16)
37,250
Taxation and social security costs
3,372
113,592
16
Deferred income
2024
£
Deferred grant brought forward
-
Grant received
37,250
Released to income from charitable activities
-
Deferred grant carried forward
37,250		 2023
£
213,719
-
5,041
218,760
2023
£
-
275,143
275,143
2023
£
15,868
-
40,571
-
10,005
66,444
2023
£
-
-
-
-

30

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

17 Analysis of movements in restricted funds

Total
Total
Previous
reporting period
VCFSE
Transformation
Programme
VS6
GMCSE Answer
Cancer
National Lottery
Social Prescribing
Network NW
GMCSE Answer
Cancer
VCFSE
Transformation
Programme
Current reporting
period
C&M Research
VS6
Social Prescribing
Network NW		 Balance at
1 April
2023
£
-
-
-
-
8,840
-
8,840
Balance at
1 April
2022
£
-
12,056
-
-
12,056		 Income
£
15,120
101,001
438,758
56,461
123,303
57,991
792,634
Income
£
40,470
113,608
143,758
91,215
389,051		 Expenditure
£
(15,120)
(100,372)
(430,718)
(26,405)
(113,994)
(40,354)
(726,963)
Expenditure
£
(40,470)
(125,664)
(143,758)
(82,375)
(392,267)		 Transfers
£
-
-
-
-
-
-
-
Transfers
£
-
-
-
-
-		 Balance at
31 March
2024
£
-
629
8,040
30,056
18,149
17,637
74,511
Balance at
31 March
2023
£
-
-
-
8,840
8,840

31

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

17 Analysis of movements in restricted funds (cont.)

Name of Description, nature and purposes of the fund restricted fund

Social Prescribing Funding from National Academy for Social Prescribing (NASP), via Network NW Burnley, Pendle and Rossendale CVS, to support VCSE role in Social Prescribing in North West England GMCSE Answer Subcontracted from Salford CVS delivery of the GM Cancer Screening Cancer Engagement service VCFSE To support the VCFSE role in the transformation of health and care across Transformation Cheshire and Merseyside. Programme C&M Research To support VCFSE sector to engage in health and care research, funded via C&M NHS. VS6 Reaching Communities Lottery Funds held on behalf of the VS6 Partnership in order to support the VCFSE role in shaping the future of Liverpool City Region National Lottery Four year funding from the National Lottery Communities Fund to enable the “VCFSE Sector to influence the Future of the North West" project.

32

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

18 Analysis of movement in unrestricted funds

General fund
Previous
reporting period
GM Accord
Organisational
Development
General fund
Designated Funds:
Designated Funds:
GM Accord
Carers C&M
Lloyds Bank
Foundation
Current reporting
period
Organisational
Development		 Balance
at 1 April
2023
£
408,430
11,970
-
420,400
Balance
at 1 April
2022
£
289,883
10,666
15,000
56,665
47,872
420,086		 Income
£
8,780
526,826
-
535,606
Income
£
211,127
-
-
-
-
211,127		 Expenditure
£
28,711
(494,343)
-
(465,632)
Expenditure
£
(189,914)
(10,666)
-
-
(10,233)
(210,813)		 Transfers
£
(62,583)
-
62,583
-
Transfers
£
97,334
-
(15,000)
(44,695)
(37,639)
-		 As at 31
March 2024
£
383,338
44,453
62,583
490,374
As at 31
March
2023
£
408,430
-
-
11,970
-
420,400

33

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

18 Analysis of movement in unrestricted funds (cont.)

Name of Description, nature and purposes of the fund unrestricted fund

General fund The free reserves after allowing for all designated funds

Designated Funds GM Accord The GM VCFSE Accord is a collaboration agreement between the Greater Manchester Combined Authority (GMCA), NHS Greater Manchester, and the Voluntary, Community, Faith, and Social Enterprise (VCFSE) sector, represented by the GM VCFSE Leadership Group. Its purpose is to strengthen partnerships between these sectors to improve outcomes for the communities in Greater Manchester.

Carers C&M Funding to support carers in Cheshire and Merseyside linked to NHS workforce development Lloyds Bank Lloyds Bank Foundation grant investment in VSNW’s core funding Foundation Organisational Funding designated by VSNW’s Board for future development and Development sustainability and to support delivery, in line with our priorities, across the North West and the five subregions.

19 Analysis of net assets between funds

Tangible fixed assets
Net current assets/(liabilities)
Total
Tangible fixed assets
Net current assets/(liabilities)
Total
Previous
reporting period
Current reporting
period		 General
fund
£
843
382,495
383,338
General
fund
£
1,781
406,649
408,430		 Designated
funds
£
-
107,036
107,036
Designated
funds
£
-
11,970
11,970		 Restricted
funds
£
-
74,511
74,511
Restricted
funds
£
-
8,840
8,840		 Total
£
843
564,042
564,885
Total
£
1,781
427,459
429,240

34

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

20 Reconciliation of net movement in funds to net cash flow from operating activities

Net income/(expenditure) for the year
Adjustments for:
Depreciation charge
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating		 2024
£
135,645
938
199,978
47,148
383,709		 2023
£
(2,902)
938
(88,365)
9,269
(81,060)

35

Voluntary Sector North West

Notes to the accounts for the year ended 31 March 2024 (continued)

21 Prior year Statement of Financial Activities (including Income and Expenditure account)

Income from:
Donations and legacies
Charitable activities:
Total income
Expenditure on:
Charitable activities:
Total expenditure
Transfer between funds
Net movement in funds for the year
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Net income/(expenditure) for the
year
Net income/(expenditure) before
net gains/(losses) on investments		 Unrestricted
funds
£
-
211,127
211,127
210,813
210,813
314
314
-
314
420,086
420,400		 Restricted
funds
£
-
389,051
389,051
392,267
392,267
(3,216)
(3,216)
-
(3,216)
12,056
8,840		 Total funds
2023
£
-
600,178
600,178
603,080
603,080
(2,902)
(2,902)
-
(2,902)
432,142
429,240		 Total funds
2022
£
3,000
431,740
434,740
389,448
389,448
45,292
45,292
-
45,292
386,850
432,142

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

36