COMPANY REGISTRATION NUMBER: 03954998 CHARITY REGISTRATION NUMBER: 1082478 The Voluntary Network Company Limited by Guarantee Unaudited Financial Statements For the year ended 31 March 2025
The Voluntary Network Company Limited by Guarantee Financial Statements Year ended 31 March 2025 Trustees' annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows Notes to the financial statements Pages 1 to 3 4 5 6 8 to 17
The Voluntary Network Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 he trustees, who are also the directors for the purposes of company law, present their report and the unaudit nancial statements of the charity for the year ended 31 March 202 Reference and administrative details Registered charity name Charity registration number Company registration number Principal office and registered office The trustees The Voluntary Network 1082478 03954998 The Racing Centre Fred Archer Way Newmarket England CB8 8NT F M Saltmarsh T Kerby RJK Laird JG R Miller P Westlake (Appointed 25 September 2025) Company secretary Independent examiner CL Robinson Shane Tharby FCA For and on behalf of Streets Chartered Accountants 3 Wellbrook Court Girton Cambridge CB3 ONA Structure, governance and management The Voluntary Network ("TVN") is a company limited by guarantee governed by its Memorandum and Articles of Association dated 23 March 2000 and amended 27 May 2010. It is registered as a charity with the Charity Commission. Anyone may become a member of the company and each member agrees to contribute f1 in the event of the charity winding up. The party is covamed by the Mee who mand Acides ay to da to forage necion by she ember of til Manager who is assisted by support staff. - 1-
The Voluntary Network Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Structure, governance and management (continued) For the purpose of the Companies Act 2006 all trustees are deemed to be directors. Members and others are circulated with invitations prior to the AGM advising them of any retiring trustees an retreatin my minaidus may bringid the ches, When co-opting trustees the board has regard to the skills and Organisation he board of trustees administer the charity and usually meet every two months. A General Manager is appoint y the board to manage the day-to-day operations of the charity. To facilitate effective operations the Gener Manager has delegated authority for operational matters including finance and employment. Risk management The trustees have assessed the major risks to which the charity is exposed and established systems and procedures to mitigate exposure to the major risks. Objectives and activities The purpose of the charity is to provide a public benefit of promoting and enabling community cohesion and reducing social and rural isolation for all residents of our area of operation, enabling any resident to fully participate within the community and enjoy their own independent life styles. Our work applies particularly to the more vulnerable members of our society. This purpose is currently realised by our provision of: (a) Community transport projects. (b) A Befriending Service The trustees aim to provide sustainable services at high standards of delivery within the constraints of ever changing funding, regulation and political change all of which currently leads us in to a more commercial environment and possible diversification so as to secure our future. Achievements and performance Community Transport The Voluntary Network operates various Community Transport projects. We operate the Connecting Communities service for West Suffolk, alongside Community Transport services for neighbouring areas and East and South Cambridgeshire. Our services are building, with a steady increase in passenger journeys. Our services do however continue to operate under restricted funding and have had to adapt operational capacity accordingly. Marham Park Flyer will soon be coming to an end, we look forward to launching additional scheduled services, supported by BSIP funding in the next financial year. We have strengthened our professional relationship with the NHS, working in partnership with SCC to develop the Bump to Baby travel initiative. - 2 -
The Voluntary Network Company Limited by Guarantee Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Achievements and performance (continued) Befriending Service We operate a Befriending Service which provides support and companionship across West Suffolk for those who would otherwise be lonely and isolated. Our team of volunteers are in contact once a week with clients, either by telephone or face to face. We have firther extended our Befriending activities with the introduction of our pen pal project. We work in partnership with a locally primary school to support 60 clients, extending our intergenerational work in the future. Volunteers The votinda vice it a pery ed by feat of ove 250 outer, for both Co pride Tripost and or so many. Financial review Our Accounts for the year ended 31 March 2026 reflect the positive benefits of our operational review. to minimum wages and Employer NI Contributions. We will look to extend our operations, exploring BSIP funding and the provision of scheduled routes. Reserves policy The nises eard the current evel rest re to be deng it for imediate needs but remain wary of the Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustes' annual report was approved on 28 | 1/24 ... and signed on behalf of the board of trustees by: JGR Miller Trustee - 3 -
The Voluntary Network Company Limited by Guarantee Independent Examiner's Report to the Trustees of The Voluntary Network Year ended 31 March 2025 The pea to ded 3 Maron my xamination of the financial statements of The Voluntary Network (the charity) for Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act). followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (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 charity as required by section 386 of the 2006 Act; or 2. the financial statements do not accord with those records; or 3. the financial statements 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 4. the financial statements 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. Shane Tharby FCA Independent Examiner For and on behalf of Streets Chartered Accountants 3 Wellbrook Court Girton Cambridge CB3 ONA - 4-
The Voluntary Network Company Limited by Guarantee Statement of Fine scial Apevitere account) Year ended 31 March 2025 Unrestricted funds 2025 Restricted funds Income and endowments Donations and legacies Charitable activities Investment income Other income Total income Expenditure Stie experim charital cities. Total expenditure Note 4 5 6 7 Net income/(expenditure) and net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 633,334 3,146 17,790 654,270 612,774 3,469 616,243 38,027 144,088 182,115 48,460 48,460 48,460 48,460 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Total funds 48,460 633,334 3,146 17,790 702,730 661,234 3,469 664,703 2024 Total funds 168,971 581,693 3,893 7,870 762,427 73163 778,870 38,027 144,088 182,115 (16,443) 160,531 144,088 The notes on pages 8 to 17 form part of these financial statements. - 5-
The Voluntary Network Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Fixed assets Tangible fixed assets Current assets Debtors Cash at bank and in hand Note 16 29,363 53,389 17 82,813 106,868 189,681 78,368 86,332 164,700 Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Net assets 18 36,929 74,001 152,752 182,115 182,115 90,699 144,088 144,088 Funds of the charity Unrestricted funds Total charity funds 20 182,115 182,115 144,088 144,088 For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: The member adano require on ompany to obtain an audit of its financial statements for the year in The directing rents che their papi it instril taleine with the requirements of the Act with respect 'hese financial statements have been prepared in accordance with the provisions applicable to companies subjec o the small companies' regim 2e, ancial statements were approved by the board of trustees and authorised for issue on ........., and are signed on behalf of the board by: JGR Miller Trustee The notes on pages 8 to 17 form part of these financial statements. - 6 -
The Voluntary Network Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2025 Cash flows from operating activities Net income/(expenditure) Adjustments for: Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and similar charges Gains on disposal of tangible fixed assets Changes in: Trade and other debtors Trade and other creditors Cash generated from operations Interest paid Interest received Net cash from operating activities Cash flows from investing activities Purchase of tangible assets Proceeds from sale of fixed assets Net cash from/(used in) investing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 2025 € 38,027 24,026 (3,146) 12,950 (100) 6202) 30,240 (12,950) 3,146 20,436 100 100 20,536 86,332 106,868 The notes on pages 8 to 17 form part of these financial statements. - 7- 2024 (16,443) 24,208 (3,893) (2,150) (848) 12,312 13,186 3,893 17,079 (31,914) 2,150 (29,764) (12,685) 99,017 86,332
The Voluntary Network Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 1. General information e charity is a private company limited by guarantee, registered in England and Wales and a register arity in England and Wales. The address of the registered office is The Racing Centre, Fred Archer W Newmarket, England, CB8 8NT. The charity is a public benefit entity as defined by FR$ 102. 2. Statement of compliance 3. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty he preparation of the financial statements requires management to make judgements, estimates ar Significant judgements lere are no judgements (apart from those involving estimations) that management has made in the proce applying the entity's accounting polici Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, or in accordance with the contract terms. - 8 -
The Voluntary Network Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 3. Accounting policies (continued) Incoming resources All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Motor vehicles Equipment 20% straight line 20% and 33.33% straight line -9-
The Voluntary Network Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 3. Accounting policies (continued) Impairment of fixed assets Financial instruments financial asset or a financial liability is recognised only when the entity becomes a party to the contracti ovisions of the instrumer Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Cur prade end curen hoblic are subsequently measured a the cash or other consideration expected Defined contribution plans Coni is pors to doined contributio plans are recognised as an expense in the period in which the related 4. Donations and legacies Restricted Total Funds Funds 2025 Restricted Total Funds 2024 Donations Donations Grants Grants receivable 10,925 10,925 18,994 18,994 37,535 48,460 37,535 48,460 149,977 168,971 149,977 168,971 - 10 -
The Voluntary Network Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 4. Donations and legacies (continued) The majority of income is received by way of grant funding generally for restricted purposes. During the year the following bodies provided grants. 2025 € West Suffolk Council South Cambridge District Council BSOG Suffolk Council Other 10,000 5,000 13,909 8,000 626 37,535 2024 131,216 5,000 12,550 1,211 149,977 Charitable activities Expenses recovered Transport fares Minibus hire Other income Unrestricted Total Funds Unrestricted Funds 2025 Funds 9,550 9,550 14,499 104,052 104,052 118,429 518,382 518,382 443,430 1,350 1,350 5,335 633,334 633,334 581,693 Total Funds 2024 14,499 118,429 443,430 5,335 581,693 6. Investment income Unrestricted Total Funds Funds € 2025 3,146 3,146 Unrestricted Funds 3,893 Total Funds 2024 3,893 Bank interest receivable 7. Other income Gain on disposal of tangible fixed assets Midas training income Unrestricted Total Funds Unrestricted Funds 2025 Funds $100 $100 17,690 17,690 2,150 5,720 17,790 17,790 7,870 Total Funds 2024 2,150 5,720 7,870 - 11 -
The Voluntary Network Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 8. Expenditure on charitable activities by fund type Charitable activities Support costs Unrestricted Funds 609,458 3,316 612,774 Unrestricted Funds 585,661 22,531 608,192 Restricted Total Funds Funds f 2025 48,460 657,918 3,316 48,460 661,234 Restricted Total Funds Funds 2024 € 168,971 754,632 22,531 168,971 777,163 Charitable activities Support costs 9. Expenditure on charitable activities by activity type Charitable activities Governance costs 10. Support costs Accommodation Depreciation Governance Activities undertaken directly Support costs 657,918 106 3,210 657,918 3,316 Analysis of support costs (418) 524 3,210 3,316 Total funds 2025 658,024 3,210 661,234 Total fund 2024 774,063 3,100 777,163 Total 2025 € (418) 524 3,210 3,316 Total 2024 15,865 567 4,806 24,238 11. Other expenditure Midas training costs Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 3,469 3,469 1,707 1,707 - 12-
The Voluntary Network Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 12. Net income/(expenditure) Net income/(expenditure) is stated after charging/(crediting): Depreciation of tangible fixed assets Gains on disposal of tangible fixed assets 13. Independent examination fees 2025 24,026 (100) 2024 24,208 (2,150) 2025 Fees payable to the independent examiner for: Independent examination of the financial statements 2,750 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2025 Wages and salaries Social security costs Employer contributions to pension plans 427,087 (3,081) 5,131 429,137 2024 2,640 2024 443,530 27,194 5,352 476,076 The average head count of employees during the year was 27 (2024: 27). No employee received employee benefits of more than £60,000 during the year (2024: Nil). Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £61,830 (2024: £61,648). 15. Trustee remuneration and expenses No trustee received any remuneration or expenses during the current or previous year. - 13 -
The Voluntary Network Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 16. Tangible fixed assets Cost At 1 April 2024 Disposals At 31 March 2025 Depreciation At 1 April 2024 Charge for the year Disposals At 31 March 2025 Carrying amount At 31 March 2025 At 31 March 2024 17. Debtors Motor vehicles 318,761 318,761 267,084 23,502 290,586 28,175 51,677 Equipment 14,606 (7,046) 7,560 12,894 524 (7,046) 6,372 1,188 1,712 Total € 333,367 (7,046) 326,321 279,978 24,026 (7,046) 296,958 29,363 53,389 Trade debtors Prepayments and accrued income Other debtors 2025 50,273 26,738 5,802 82,813 2024 42,631 19,847 15,890 78,368 18. Creditors: amounts falling due within one year Trade creditors Accruals and deferred income Social security and other taxes 2025 18,405 3,554 14,970 36,920 2024 38,098 3,586 32,317 74,001 19. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5,131 (2024: £5,352). - 14 -
The Voluntary Network Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 20. Analysis of charitable funds Unrestricted funds ¡eneral fun‹ esignated Vehicle Replacement Fur Designaten Vehicle Replacement Fund 1 April 2024 117,211 26,877 144,088 At 1 April 2023 133,654 26,877 160,531 At 31 Income Expenditure March 2025 654,270 (616,243) 155,238 26,877 654,270 (616,243) 182,115 At 31 Income Expenditure March 2024 593,456 (609,899) 117,211 26,877 593,456 (609,899) 144,088 Designated Fund Following the receipt of a generous legacy from the estate of a former user of the Charity's Dial-A-Ride service, the Trustees determined that this sum should be designated into a vehicle replacement fund. Restricted funds Community Transpor Befriending Schem 1 April 2024 = At 31 Income € Expenditure March 2025 39,793 (39,793) 8,667 (8,667) 48,460 (48,460) At 1 April 2023 € ommunity Transpos efriending Schem Income 160,551 8,420 168,971 Expenditure (160,551) (8,420) (168,971) At 31 March 2024 - 15-
The Voluntary Network Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 20. Analysis of charitable funds (continued) Community Transport The charity runs a number of community transport projects as follows:- Dial a Ride, Suffolk Links and Wheels within Wheels services, all of which came under the new Connecting Communities branding after June 2016. A community car service utilising volunteer drivers and their cars which relies upon grant funding. All of these services, in their different modes of operation, benefit vulnerable members of the public susceptible to rural or social isolation. Funding to support these transport projects is largely provided by Suffolk County Council, Cambridgeshire County Council and Forest Heath District Council. Befriending Scheme The charity operates a befriending service supported by grant funding. 21. Analysis of net assets between funds Tangible fixed assets Current assets Creditors less than 1 year Net assets Tangible fixed assets Current assets Creditors less than 1 year Net assets 22. Analysis of changes in net debt Unrestricted Total Funds Funds 2025 29,363 29,363 189,681 189,681 (34,003) (34,003) 185,041 185,041 Unrestricted Funds 53,389 164,700 (74,001) 144,088 Total Funds 2024 53,389 164,700 (74,001) 144,088 Cash at bank and in hand At 1 Apr 2024 Cash flows f 86,332 20,536 At 31 Mar 2025 106,868 - 16 -
The Voluntary Network Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 23. Operating lease commitments The total future minimum lease payments under non-cancellable operating leases are as follows: Not later than 1 year Later than 1 year and not later than 5 years 7,920 16,500 24,420 2024 29920 32,340 24. Related parties No related party transactions took place during the current or previous year. = 17 -