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2023-03-31-accounts

REGISTERED COMPANY NO: 04155933 Registered Charity No: 1087692

JOHN STORER CHARNWOOD

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

JOHN STORER CHARNWOOD

CONTENTS

Report of the Board of Trustees Page 2 - 11
Independent Examiners Report Page 12
Statement of Financial Activities Page 13
Balance Sheet Page 14 - 15
Statement of Cash Flows Page 16
Notes to the Financial Statements Page 17 - 30

1

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The Board of Trustees presents its report and financial statements for the year ended 31 March 2023.

REFERENCE AND ADMINISTRATIVE INFORMATION

Charity Name: John Storer Charnwood Charity Registration Number: 1087692 Company Registration Number: 04155933

Board of Trustees

The directors of the charitable company are its Trustees for the purposes of charity law. The Trustees who have served during the year and since the year end were as follows:

Mrs M Chaggar Ms M Khandelwal Mrs S Leong (Chair) Mr J West (Treasurer) Mr A Hull Mr K Pyne Mr E Harris

Mr M C Mee (appointed 12 October 2022)

Observers appointed by Charnwood Borough Council

Cllr P Mercer Cllr T Parton

Chief Officers and Secretary - Mrs K Frostick (Director and Secretary)

Registered Office - John Storer House, Wards End, Loughborough, Leicestershire, LE11 3HA

Accountants - The Rowleys Partnership Ltd, Chartered Accountants , Charnwood House Harcourt Way, Meridian Business Park, Leicester, Leicestershire, LE19 1WP

Bankers – Unity Trust Bank, 9 Brindley Place, Birmingham, B1 2HB and National Westminster Bank Plc, Market Place, Loughborough, Leicestershire

Solicitors - Moss Solicitors, 80-81 Woodgate, Loughborough, Leicestershire, LE11 2XE

2

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (Continued)

The Trustees present their report and the independently examined financial statements of the charity for the year ended 31 March 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

OBJECTIVES AND ACTIVITIES

To lead, promote and develop sustainable voluntary activity in the local community and act as a resource for voluntary groups and organisations in the Borough of Charnwood. Operates a variety of services and activities including well-being projects, a community cafe and a transport service.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The Charity is a company limited by guarantee. It was incorporated on 7 February 2001 under a Memorandum of Association and is governed under its Articles of Association. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity.

Recruitment and Appointment of Trustees

The directors of the company are also charity Trustees for the purposes of charity law and under the company's Articles are known as "The Trustees".

Since 2007, at the AGM approximately one third of the Board of Trustees stands down and there are elections to fill the vacant places.

All full members of John Storer Charnwood (JSC) may stand for election and have a vote in the elections. Additionally, individuals who have relevant skills and experience are 'headhunted' and invited to join the Board, typically as co-optees in the first instance.

Trustee Induction and Training

In the year ended 31 March 2023, Trustees continued implementation of the Code of Good Governance for voluntary organisations. There is an induction programme for new Trustees, which is tailored to their particular needs and all Trustees are requested to attend safeguarding training.

Risk Management

The Trustees have examined the major strategic business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to minimise these risks.

3

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (Continued)

Organisational Structure

The charitable company has a Board of Trustees that meets regularly and is responsible for the governance framework and the strategic direction and policy of the Charity. At the yearend the Board had 8 members from a variety of professional backgrounds relevant to the work of the charity. The Director (also Secretary) sit on the Board, but has no voting rights.

In January 2006 Trustees approved a detailed Scheme of Delegation, which sets out the hierarchy of powers from the member organisations at the top, through the Board of Trustees they elect. The powers go down to the Resources Committee, which is an executive committee to which the Board devolves some of its powers, and on to the Directors and then to Team Leaders and other staff. In 2019 the Board created non-operational Trustee portfolios which give the opportunity for Trustees to offer their skills, expertise and support to the staff team for their allocated portfolio i.e., Personnel/Policies/Staff and Volunteer Development and Welfare, Legal Matters, Well-being and Development, Fundraising, Business Development, Quality, Impact and Compliance and John Storer House (building development and maintenance).

Following the departure of the Chief Executive in February 2015 the Board appointed two Directors: a Director of Business Development and a Director of Corporate Services. This was changed to just one Director in July 2019.

The Trustees have an annual cycle of meetings of the Joint Board and Joint Resources Committee, each of which has a theme. This includes a full annual planning cycle with monitoring and review of performance throughout the year. The "Joint" Board and Resources Committee refers to the closely associated charity John Storer House Foundation (JSHF), as the agendas for meetings cover issues for both charities.

Achievements and Performance For The Benefit Of The Public

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. During the year the Charity has continued to develop services for the well-being of individuals and communities in Charnwood. JSC continues to respond to the needs of the wider Charnwood communities, working in partnership with others to provide timely, effective and relevant services. JSC also continues to seek more self-generated income from the sales of services.

4

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (Continued)

Well-being Activities

Well-being continues to see significant growth and, as our two new Well-being Activity Assistants take up their roles, we can further increase the number of Well-being sessions on offer to individuals who access our services regardless of whether they are self-funded, use their personal budgets or have managed budgets.

We are on the Leicestershire County Council Community Life Choices Framework and run Memorable Mondays, Craft & Sewing, Well-Being and Memorable Moments (WAMM), Music and Movement, Drama, Sewing & Craft and THYME (Therapeutic Horticulture for You and Me) sessions.

In March 2022 we had 69 service users accessing a total of 113 Well-being sessions each week. In November 2022, we were awarded a Leicester City Council Living Well with Dementia grant which has enabled us to extend our THYME offer for an additional day. This along with an increase in the number of service users attending multiple sessions means that in March 2023 we have 75 service users attending a total of 172 (3-hour) sessions.

Three bookable lunch clubs are operating per week. We are providing, on average, 74 meals over the three sessions.

5

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (Continued)

Community Transport

John Storer Charnwood Community Transport enables adults in Charnwood to be as independent as possible, to access wellbeing services and support, to play a full and active part in their own and their family’s lives and the life of their communities. We have a fleet of two John Storer Charnwood 16-seater minibuses which are fully accessible and one accessible SUV and a car. We have two paid drivers and a team of dedicated volunteer drivers who provide much needed transport in our fleet vehicles and their own personal vehicles.

Demand for Community Transport plummeted during 2020/21 and 2021/22 and we completed a total of 5,682 passenger journeys and 950 hospital journeys. However, in 2022/23 demand continued to increase and we completed 7,085 passenger journeys and 1,307 hospital journeys.

Our minibuses are very busy too, ferrying people to and from our Community Lunch Clubs and providing transport for local community groups and organisations.

In 2023/24 we will be providing a minibus service for care homes in Loughborough and Rothley, aimed at getting residents out and about again and we are actively looking for volunteer drivers who would like to be involved in our Moving Lunch Club which proved to be very popular before the onset of Covid.

Room Hire

There have been some changes in long term room hire at John Storer House. The Bridge (East Midlands) have made a more sustainable move downstairs where they have a bigger room at the front of the building and can be open to clients. They have signed another sixmonth licence agreement.

There was some concern about the loss of revenue from the long-term letting to St John Ambulance, who have now moved to the Link Hotel where they can hold bigger classes. However, this possible loss has become an opportunity as it has freed up the Scope Room and the servery and we are looking to start well-being sessions one day a week in there. Business 2 Business and the Shaw Trust continue to occupy rooms on long-term lets.

134 organisations have hired rooms over the year, 64 of whom are regular hirers, but this is a decrease in ad-hoc bookings and grassroots groups who are either no longer meeting or have found alternative accommodation (cafes, pubs, private homes, public spaces etc.).

We currently have 10 rooms available to hire.

6

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (Continued)

Volunteering

We have now fully re-established our training programme aimed at providing vital courses at affordable prices for the Voluntary and Community Sector Groups in Charnwood. We are seeing continued interest in compliance-related courses and following a successful Managing Volunteers course, there appears to be further appetite for development training including Safeguarding. First Aid Level 3 is still the most popular, particularly as we are able to offer it at an attractive low cost. We are also seeing an increase in organisations requesting training sessions just for them - in some cases we have put them directly into contact with our trainer as they can fill a whole session.

During this year John Storer Charnwood has facilitated:

Managing Volunteers 2-day course (1) Emergency First Aid Level 3 (8) Introduction to Safeguarding (2) Advanced Safeguarding (1)

Pre-Covid we had 185 volunteers registered. This went down to a low post-Covid of 81 regular volunteers, many of whom were new volunteers with some transferring from the Loughborough Against Corona volunteer database. Numbers now are bouncing back, and we have 140 volunteers now registered at John Storer Charnwood and The Marios Tinenti Centre.

Hours recorded for John Storer House volunteers = 14,798 not including drivers Hours recorded for Shepshed Volunteer Centre volunteers = 1,722 not including drivers

Based on 16,520 recorded volunteering hours during the year 2022/23, and a minimum wage of £9.50 per hour, volunteers from John Storer Charnwood contributed £156,940 to the organisation.

Shepshed

The office is now open Monday to Friday 9am to 12noon, with two volunteers in the office each day which ensures we have cover for holidays and sickness. Our volunteers have given over 1,700 hours of their time to help their community in the last year; however, the volunteer driver hours are not counted into this figure. Volunteer Car transport currently has 138 registered users. There is still a waiting list for people waiting to join the volunteer garden maintenance scheme, as once again demand outstrips the supply of volunteers.

The Well-being Garden behind the Volunteer Centre used as a retreat but also a productive plot.

The activity shed has been in use with various groups starting using it in 2022. The scrabble group and military veterans' groups weren’t well attended; however, the craft and chat group has continued with a group of ladies enjoying their crafting. When the weather was warmer, they enjoyed sitting in the summer house which overlooks the garden. We are now talking to Go Learn and Buzzing Roots about using the activity shed and garden for activities.

7

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (Continued)

Shepshed - continued

Sales of jigsaws at the volunteer centre have been very successful in the last financial year, we decided to stop selling books as we sold so few. By concentrating on jigsaws, we have an ever-changing window display, which encourages more foot fall into the office. We have relaunched the jigsaw library at the volunteer centre (from Shepshed Library), as we are open Monday to Friday, this has meant that we can engage with people directly who may need our services.

The Befriending service continues with 8 befrienders talking to 8 residents, both on the telephone and in person.

We were involved in the Shepshed Warm Hubs initially, helping with poster design and signposting residents to the organisations that were open. We were a pickup point for collect of free hats, scarves and knee blankets, all of which had been knitted by residents wanting to help those struggling in the current financial crisis.

Shepshed Volunteer Centre organised Shepshed Open Gardens, which took place in July, and Shepshed Scaresheep Festival, which place in September. Both events were very popular and excellent for community engagement.

Café

More diverse groups are using the café, with Saturday breakfasts becoming more popular with families, especially with the new Dr Lego group meeting on a Saturday morning. The menu is clear and there is a pictorial menu for any customers whose first language may not be English. We have been somewhat at a disadvantage in recent months as we have been running the kitchen without a proper cooker and relying on portable hobs. Over the next few months we are looking to complete phase 2 of our kitchen upgrade, and when this is done we will be able to review and expand our menu once again.

Items sold over the year:

Cold drinks: 5,732, hot drinks: 21,546, cakes and biscuits: 8,396, other items: 11,410 Lunches served: 2,345.

Your Store

As the Your Store Social Supermarket entered its second year, we are very confident that the concept is absolutely right for meeting the needs of many low to middle income households feeling the pinch of the cost-of-living crisis. Individuals and families have, in many cases, used the shop for a short period while they sort out their financial situation with others needing much longer support as their situations are more complex.

Over the year we have sold 8,781 £3 baskets of food providing food to 12,238 adults and 7,700 children.

The Pop-up shops in Mountsorrel and Shelthorpe remain open and independently facilitated and managed by other agencies.

We have recently increased the Your Store Staff team and plan to establish greater wrap around support and further service development.

8

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (Continued)

FINANCIAL REVIEW

The total incoming resources for the year were £918,187 (2021: up from £721,017). The total resources expended were £700,939 (2022: up from £658,224) resulting in an overall surplus before movement on pension provision of £217,248 (2022 was an overall surplus before movement on pension provision of £62,793). The overall surplus has increased significantly this year partly because some income was received but the expenditure relating to it will not be incurred until the next financial year.

Unrestricted income for the year was £634,854 and expenditure was £440,426, resulting in a surplus for the year before movement on pension provision and transfers of £194,428. The carry forward was £712,527 of which £334,408 is designated funds, as detailed in note 16, (£2,897) of negative pension reserve and £377,016 general free reserves.

Restricted fund income was £283,333 and the restricted fund balances at the end of the year were £194,312.

PENSIONS

John Storer Charnwood is a member of a defined benefit multi-employer scheme. The total deficit of the whole scheme as at 30 September 2020, date of the last full actuarial valuation, this valuation showed assets of £800.3m, liabilities of £831.9m and deficit of £31.6m. Further details can be found in note 18 on pages 27 and 28.

As noted above, changes introduced in the new Charities SORP require the future agreed pension contributions to be provided in the accounts (previously this liability was disclosed as a note to the accounts). This introduced a provision and an equal and opposite ‘negative’ reserve on the balance sheet of £2,897 (2022: £4,544).

The current debt recovery period has a further 4 years to run with agreed annual pension deficit recovery payments set out over that period.

John Storer Charnwood now operates a defined contribution scheme. Staff entry to the scheme is governed by the Auto-Enrolment rules and employer contributions are charged as they are incurred.

PLANS FOR FUTURE PERIODS

2023/24 and Looking into the Future

We are looking at a period of development for JSC. We are happy to report that Well-being services are thriving, as is community transport, although finding additional volunteer drivers to meet demand is a challenge. The café, too, seems to have undergone a somewhat of a renaissance, particularly on Saturdays and when phase 2 of the kitchen redevelopment is completed, this will hopefully show further signs of improvement. The post-Covid theme is about finding new opportunities and responding to new needs – not standing still, not being content with what has always been.

9

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (Continued)

RESERVES

The Trustees have reviewed the reserves held by John Storer Charnwood as at 31 March 2023. This review encompassed the nature of the income and expenditure streams, the need to match variable income with fixed commitments and the nature of the reserves.

The review concluded that the Charity needs reserves both to enable it to progress its long term aims and to protect its current activities, in order to allow the Trustees to meet their responsibilities and ensure that it continues to operate on a going concern basis.

The Trustees have examined the needs, risks and challenges faced by the Charity in both the short term and the medium term and have formulated a policy to meet those needs, which are satisfied by the level of unrestricted reserves of £712,527 at the balance sheet date, £377,016 being general free reserves.

The reserves levels for JSC and JSHF have been reviewed across all three reserves - restricted, unrestricted designated, and unrestricted general free reserves. As noted above, a ‘negative’ reserve was introduced in respect of the pension liabilities. Trustees have adopted a joint reserves policy.

JSC restricted balances mainly relate to on-going projects and cost centers. JSC designated balances relate to wellbeing development, community transport, complementary public transport, service development, building improvement and the net book value of tangible fixed assets. The unrestricted general free reserves are available to Trustees to supplement shortfalls in the year or in planning future years. However, as tenant in JSH, this now also includes all premises costs, particularly on-going maintenance.

INVESTMENT POLICY

Under the Articles of Association, the Charity has the power to invest in any ways the Trustees wish.

EMPLOYEE INVOLVEMENT AND EMPLOYMENT OF DISABLED PEOPLE

Employees have been consulted on issues of concern to them by means of regular Staff Meetings and have been kept informed on specific matters directly by management and through the JSC Staff Employment Manual.

The charity has implemented and updated a number of detailed policies in relation to all aspects of personnel matters and operational procedures.

A revised and updated JSC Staff Employment Manual (containing all JSC policies) and Health and Safety Policy have been made available to all staff.

In accordance with the charity's equal opportunity policy, the charity has long established fair employment practices in the recruitment, selection, retention and training of disabled staff.

Full details of these policies are available from the charity's offices.

10

JOHN STORER CHARNWOOD REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 (Continued)

RESPONSIBILITIES OF THE TRUSTEES

The trustees (who are also directors of John Storer Charnwood 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. Under company law the trustees 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 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:

SMALL COMPANY PROVISIONS

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

Approved by the Board of Trustees on 26 October 2023 and signed on its behalf by:

…………………………….

MRS S LEONG (Chair)

………………………………. MR J R WEST (Treasurer)

11

JOHN STORER CHARNWOOD INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF JOHN STORER CHARNWOOD

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2023 which are set out on pages 13 to 30.

Responsibilities and basis of report

As the charity Trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the 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 company’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 the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a 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 that in any material respect:

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

3. 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

4. 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.

Lisa Parkes FCA FCCA

The Rowleys Partnership Ltd Chartered Accountants Charnwood House Harcourt Way Meridian Business Park Leicester LE19 1WP

Date: 26 October 2023

12

JOHN STORER CHARNWOOD

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2023

Note
Income and endowments from
Activities for generating funds
4
Voluntary income
2
Investment income
Other income
Incoming resources from charitable
activities
3
Total incoming resources
Expenditure on
Cost of generating funds
6
Charitable activities
5
Governance costs
7
Total resources expended
Actuarial gains/(losses) on defined
benefit pension scheme
18
Net income/(expenditure)
Transfers between funds
16
Net movements of funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
211,337
64,471
3,181
6,125
349,740
634,854
48,153
298,251
94,022
440,426
1,647
196,075
(39,833)		 Restricted
Funds
£
11,716
30,720
-
-
240,897
283,333
1,257
241,752
17,504
260,513
-
22,820		 Total
2023
£
223,053
95,191
3,181
6,125
590,637
918,187
49,410
540,003
111,526
700,939
1,647
218,895
-
218,895
687,944
906,839		 Total
2022
£
104,987
36,939
1,098
5,543
572,450
721,017
37,853
538,311
82,060
658,224
29,977
92,770
-
39,833
156,242
556,285
712,527		 62,653
131,659
194,312		 92,770
595,174
687,944

13

JOHN STORER CHARNWOOD

BALANCE SHEET AS AT 31 MARCH 2023

Note
Fixed Assets
Tangible assets
11
Current Assets
Stocks
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling
due within one year
13
Net Current Assets
Provisions
18
Total Assets less Current Liabilities
Funds
Restricted funds
15
Unrestricted funds
16
Designated
General
Pension Reserve		 2022
£
£
£
£
495
989
495
989
2,697
2,217
111,136
230,837
829,333
517,738
943,166
750,792
(33,925)
(59,293)
909,241
691,499
909,736
692,488
(2,897)
(4,544)
906,839
687,944
194,312
131,659
338,408
291,449
377,016
269,380
(2,897)
(4,544)
906,839
687,944
2023

For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 and the Board of Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

14

JOHN STORER CHARNWOOD BALANCE SHEET AS AT 31 MARCH 2023 (CONTINUED)

These accounts were approved by the Board of Trustees and authorised for issue on 26 October 2023 and are signed on its behalf by.

……………………………………… ………………………………..……. MRS S LEONG (Chair) MR J WEST (Treasurer)

Company Registration Number 04155933

The notes on pages 16 to 30 form part of these financial statements.

15

JOHN STORER CHARNWOOD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Note
Cash flow from operating activities
As below
Cash flow from investing activities
Interest and dividends
Payments to acquire tangible fixed assets
Proceeds from sale of tangible fixed assets
Net cash flow from investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 April 2022
Cash and cash equivalents at 31 March 2023
Cash and cash equivalents consists of:
Cash at bank and in hand
Cash and cash equivalents at 31 March 2023
Reconciliation of net income to net cash flow from operating
Net income for year (before pension actuarial gain/losses)
Deduct income from investment activities
Unwinding of pension discounts
Depreciation of tangible fixed assets
(Profit/Loss on sale of tangible fixed assets
(Increase)/decrease in stocks
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash flow from operating activities		 2023
2022
£
£
302,289
72,426
3,181
1,098
-
(1,484)
6,125
300
9,306
(86)
311,595
72,340
517,738
445,398
829,333
517,738
829,333
517,738
829,333
517,738
activities
2023
2022
£
£
217,248
62,793
(3,181)
(1,098)
-
302
494
494
(6,125)
(300)
(480)
(217)
119,701
(14,664)
(25,368)
25,116
302,289
72,426

16

- JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

(a) General information and basis of preparation

John Storer Charnwood is a charity company limited by guarantee incorporated in England / Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 2 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Fund Accounting

(c) Incoming Resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

The following specific policies are applied to particular categories of income:

17

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (Continued)

(d) Resources Expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT, where it cannot be recovered due to partial exemption rules, and is reported as part of the expenditure to which it relates:

(e) Tangible Fixed Assets

Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, at varying rates:

Item % Basis
Catering equipment 20 Straight line
Office furniture and equipment 20 & 10 Straight line
Computer equipment 33 Straight line
Vehicles 25 Straight line

It is the charity’s policy not to consider any expenditure less than £1,000 for capitalisation.

Donated assets are brought in at their secondhand value at the date of receipt.

(f) Pensions

The pension costs charged in the financial statements represent the contribution payable by the company during the year.

18

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES (Continued)

(g) Operating Leases

Rentals paid under operating leases are charged in the financial statements as they are incurred.

(h) Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slowmoving stock where appropriate.

(i) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(j) Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

(k) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

19

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

2. VOLUNTARY INCOME

Affiliation fees and donations
Fundraising income
TOTAL VOLUNTARY INCOME		 Unrestricted Restricted
Funds
Funds
£
£
55,234
28,126
9,237
2,594
64,471
30,720		 Total
Total
Funds
Funds
2023
2022
£
£
83,360
31,110
11,831
5,829
95,191
36,939

3. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES

Unrestricted Restricted
Funds
Funds
FUNDS RECEIVABLE
£
£
Local authorities
Leicestershire County Council
149,361
70,657
Charnwood Borough Council
84,633
128,776
Shepshed Town Council
-
7,000
National Government
Department for Transport
-
-
NHS /CCG
360
-
TOTAL FUNDS RECEIVABLE
234,354
206,433
Unrestricted Restricted
Funds
Funds
OTHER INCOME
£
£
Activities
-
-
Wellbeing Activities
70,315
34,464
Transport services
45,071
-
TOTAL OTHER INCOME
115,386
34,464
TOTAL INCOMING RESOURCES
FROM CHARITABLE ACTIVITIES
349,740
240,897		 Total
Total
Funds
Funds
2023
2022
£
£
220,018
139,584
213,409
318,937
7,000
7,000
-
657
360
-
440,787
466,178
Total
Total
Funds
Funds
2023
2022
£
£
-
12,989
104,779
69,761
45,071
23,522
149,850
106,272
590,637
572,450

20

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

4. ACTIVITIES FOR GENERATING FUNDS

Unrestricted
Funds
£
Other income
48,555
Rental Income
89,102
Catering Income
73,680
Shop Sales
-
211,337		 Restricted
Funds
£
2,855
-
8,861
-
11,716		 Total
Total
Funds
Funds
2023
2022
£
£
51,410
16,865
89,102
46,697
82,541
40,445
-
980
223,053
104,987

5. CHARITABLE ACTIVITIES EXPENDITURE

Unrestricted
funds
£
Legal and professional fees
7,776
Bank charges and interest
-
Office & other equipment
-
Salaries
50,879
Stationery and photocopying
2,489
Telephone and postage
11,163
Advertising
150
Travel and subsistence
733
Training fees and subscriptions
6,640
Bad debts
6,140
Pension costs
7,918
Unwinding of discount factor
on pension fund
-
Project expenses and material
43,377
Hospitality
4,594
Transport :
Salaries
77,100
Running costs
10,051
Cleaning:
Salaries
6,002
Materials
-
Heat, light and maintenance
33,922
Repairs and maintenance
14,280
Insurance
8,971
Depreciation
138
Rent & Hire Fees
3,600
IT Maintenance
-
Miscellaneous
2,328
298,251		 Restricted
funds
£
1,027
-
-
127,452
871
2,913
150
54
1,267
-
-
-
71,110
143
-
10,052
-
-
11,562
3,416
5,004
356
1,600
-
4,775
241,752		 Total
UnrestrictedRestricted
Total
2023
funds
funds
2022
£
£
£
£
8,803
2,735
409
3,144
-
1,909
-
1,909
-
4,905
6,861
11,766
178,331
57,669
102,218
159,887
3,360
1,251
1,161
2,412
14,076
6,234
1,512
7,746
300
-
-
-
787
405
2,223
2,628
7,907
7,184
732
7,916
6,140
(646)
6
(640)
7,918
8,639
-
8,639
-
301
-
301
114,487
871
104,859
105,730
4,737
2,265
116
2,381
77,100
51,705
34,259
85,964
20,103
21,619
29,475
51,094
6,002
16,288
-
16,288
-
5,439
1,873
7,312
45,484
18,060
837
18,897
17,696
29,135
2,114
31,249
13,975
3,897
111
4,008
494
138
356
494
5,200
1,135
1,900
3,035
-
2,062
-
2,062
7,103
723
3,366
4,089
540,003
243,923
294,388
538,311

21

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

6. COST OF GENERATING FUNDS

Unrestricted
funds
£
Fund Raising Expenses
-
Catering:
Salaries
43,574
Purchases
-
Miscellaneous
280
House:
Catering discounts
-
House active fund
4,299
Shop purchases
-
48,153		 Restricted
funds
£
-
-
-
-
-
1,257
-
1,257		 Total
UnrestrictedRestricted
Total
2023
funds
funds
2022
£
£
£
£
-
1,400
801
2,201
43,574
18,181
-
18,181
-
15,991
-
15,991
280
1,349
-
1,349
-
-
-
-
5,556
-
-
-
-
131
-
131
49,410
37,052
801
37,853

7. GOVERNANCE COSTS

Salaries in respect of
management and admin
Independence Examination
and accountancy
Admin,Accounts support &
Line management		 UnrestrictedRestricted
Funds
Funds
£
£
67,806
-
3,720
-
22,496
17,504
94,022
17,504		 Total
Total
Funds
Funds
2023
2022
£
£
67,806
79,040
3,720
3,020
40,000
-
111,526
82,060

8. Net incoming resources for the year is stated after charging the following:

2023 2022
£ £
Depreciation 494 494

22

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

9. TOTAL STAFF NUMBERS AND COSTS

Gross salaries and wages and
employers national security
Pension costs		 2023
2022
£
£
370,085
359,361
7,918
8,639
378,003
368,000
The average number of persons employed by the charity during the year was as The average number of persons employed by the charity during the year was as The average number of persons employed by the charity during the year was as
2023 2022
Full time employees 7 7
Part time employees 17 17

Pension contributions are made by the charity to the employees' own personal pensions. At the year end £Nil was owed to the individual pension schemes (2022: £Nil).

The remuneration and benefits received by key personnel during the year were £38,106 (2022: £37,210).

No employees received total employee benefits (excluding employer pension costs) of more than £60,000.

Trustees remuneration and expenses

The trustees neither received nor waived remuneration during the year (2022: £Nil)

The trustees did not have any expenses reimbursed during the year.

10. INDEPENDENT EXAMINATION

The amount paid for the Independent Examination was £3,425 (2022: £3,020 ) and £295 (2022: £Nil) for other accountancy services.

23

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

11. TANGIBLE FIXED ASSETS

Catering
Computer
Equipment
Equipment
£
£
Cost
At 1 April 2022
1,317
58,689
Additions
-
-
Disposals
-
-
At 31 March 2023
1,317
58,689
Depreciation
At 1 April 2022
1,317
57,700
Charge for the year
-
494
Eliminated on disposal
-
-
At 31 March 2023
1,317
58,194
Net book value
At 31 March 2023
-
495
At 31 March 2022
-
989
DEBTORS
Connected Charity - John Storer House Foundation
Trade debtors
Other debtors		 Office
Fixtures
Vehicles
Total
& Fittings
£
£
£
40,555
110,554
211,115
-
-
-
-
(8,565)
(8,565)
40,555
101,989
202,550
40,555
110,554
210,126
-
-
494
-
(8,565)
(8,565)
40,555
101,989
202,055
-
-
495
-
-
989
2023
2022
£
£
57,310
189,311
51,754
41,526
2,072
-
111,136
230,837

12. DEBTORS

24

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Taxes and Social Security
Accruals
Other creditors		 2023
£
14,201
13,510
3,720
2,494
33,925		 2022
£
32,527
14,585
7,651
4,530
59,293

14. ANALYSIS OF NET ASSETS BY FUND

Unrestricted
Funds
£
Tangible fixed assets
139
Cash at bank and in hand
635,377
Stock
2,697
Debtors
111,136
Creditors
(33,925)
Pension provision
(2,897)
712,527		 Restricted
Total Funds
Funds
2023
£
£
356
495
193,956
829,333
-
2,697
-
111,136
-
(33,925)
-
(2,897)
194,312
906,839

25

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

15. RESTRICTED FUNDS

At 1 April
2022
£
LCC - Complimentary Public Transport
-
Loughborough Community Care Transport
19,654
Charnwood Disability Forum
7,917
Social Seeding
2,891
Pregnancy Testing (CSSP)
2,178
Charnwood Mental Health
Forum
77
Sileby Lunch Club
221
Local volunteering
958
Transport access
581
CBC MTC Worker
1,217
Shepshed VC - Local
33,288
COVID 19
63,164
Lottery Fund
(487)
ASC Retention
-
Allotment Development
-
131,659
2022 comparative:
At 1 April
2021
£
LCC - Complimentary Public Transport
-
Loughborough Community Care Transport
19,654
Charnwood Disability Forum
7,917
Social Seeding
2,891
Pregnancy Testing (CSSP)
2,178
Charnwood Mental Health
Forum
77
Sileby Lunch Club
221
Local volunteering
958
Transport access
581
CBC MTC Worker
(121)
Shepshed VC - Local
34,377
COVID 19
36,672
Lottery Fund
(487)
104,918		 Income
Expenditure
£
£
63,400
(108,777)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
29,500
(23,936)
29,690
(32,708)
135,975
(82,584)
-
-
7,258
(7,258)
17,510
(5,250)
283,333
(260,513)
Income
Expenditure
£
£
64,084
(64,084)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
25,000
(23,662)
25,184
(26,273)
207,662
(181,170)
-
-
321,930
(295,189)		 Transfers
At 31 March
2023
£
£
45,377
-
-
19,654
-
7,917
(2,891)
-
-
2,178
-
77
-
221
-
958
-
581
-
6,781
30,270
(5,544)
111,011
-
(487)
-
-
2,891
15,151
39,833
194,312
Transfers
At 31 March
2022
£
£
-
-
-
19,654
7,917
-
2,891
-
2,178
-
77
-
221
-
958
-
581
-
1,217
-
33,288
-
63,164
-
(487)
-
131,659

26

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

15. RESTRICTED FUNDS (CONTINUED)

The Complimentary Public Transport fund relates to the grant agreement which the charity has entered with Leicestershire County Council. The fund is restricted solely for the provision of Complementary Public Transport Services. The balance on the fund relates to the net book value that was purchased for the services and the vehicle has now been fully depreciated.

The Loughborough Community Care Transport Fund relates to the transfer of funds from the charity Loughborough Community Care (LCCare), which was done when JSC took over responsibility for running various transport services previously carried on by LCCare. The fund is restricted for the use for the promotion of community transport services in the Borough of Loughborough.

Shephed VC – this related to the 2007 merger. It was agreed to keep the money restricted and any future monies for Shepsed should be kept in restricted funds.

COVID 19 – In response to the COVID pandemic, we received funding for people impacted by COVID. There was also opportunities to receive money for additional projects ie the foodbank. We received money to mitigate our losses particularly to identify those in need of held during the pandemic. The COVID fund balances continue to support the Social Supermarket called Your Store and the restricted fund name changed to Your Store. The Your Store fund has continued to receive donations and funding to date.

Allotment development – A private donation was received for the development of a new purpose built activity workshop. This will be erected during 2023/24.

All other restricted funds are for specific projects as described above within the local community. Where funds have been transferred from restricted funds to unrestricted funds, the release of the restrictions on the funds has been agreed by the funders or is allowed because the funds are time expired.

16. UNRESTRICTED FUNDS

Designated Funds:
Community Transport Fund
Complementary Public
Transport Fund
Service Development Fund
Building Improvement Fund
Fixed assets held for charity use
Pension Reserve
General Funds		 At 1 April
2022
£
208,181
69,436
6,742
7,090
-
291,449
(4,544)
269,380
556,285		 Income
£
88,800
40,774
-
31,250
-
160,824
1,647
474,030
636,501		 Expenditure
£
(69,513)
-
-
-
(69,513)
-
(370,913)
(440,426)		 Transfers
At 31 March
2023
£
£
1,025
228,493
(45,377)
64,833
-
6,742
-
38,340
-
(44,352)
338,408
-
(2,897)
4,519
377,016
(39,833)
712,527

The Community Transport Fund is in respect of an amount put aside by the Trustees to contribute to future costs associated with the vehicles used in the transport project.

The Complementary Public Transport (CPT) Fund is in respect of the charges made for CPT services less the costs of running the service that are not funded by specific grants included in the restricted funds shown in note 15.

27

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

16. UNRESTRICTED FUNDS (CONTINUED)

The Service Development Fund has been set up to fund a Volunteer Community Services Development Worker post, a Project/Business Development post and investment in the building (up to £10,000). In 2019/20, the fund was used instead to further extend the Services Team Leader post for an additional year and develop the House and its facilities.

The Building Improvement Fund represents funds designated for the purpose of carrying out essential building improvement work.

The “Fixed assets held for charity use” fund represents the net book value of tangible fixed assets. Each year an amount is transferred to or from the fund representing the movement in the net book value of tangible fixed assets in the year.

The Pension Reserve is a negative reserve created due to the change in presentation required by FRS102 regarding the recognition of liabilities arising in respect of Pensions. This is more fully explained in note 18.

The amount of general funds at 31 March 2023 was £361,030. These funds are sometimes referred to as free reserves. However, the negative Pension Reserve of £2,897 is held against them.

The Trustees have a reserves policy, in line with the guidance of the Charity Commissioners, and which meets the requirements of funders.

17. COMMITMENTS UNDER OPERATING LEASES

At 31 March 2023 the company had aggregate annual commitments under non- cancellable operating leases as set out below.

Operating leases which expire:
Within one year
Within 2 to 5 years		 2023
2022
£
£
5,010
212
11,652
7,307
16,662
7,519

18. PENSION

John Storer Charnwood participates in The Pensions Trust’s Growth Plan (The Plan) a multi-employer scheme which provides benefits to some 950 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last man standing arrangement'. Therefore, the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

28

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

18 PENSION (CONTINUED)

A full actuarial valuation for the scheme was carried out on 30 September 2020. The valuation showed assets of £800.3 million, liabilities of £831.9 million and a deficit of £31.6 million. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional annual contributions to the scheme from the 1 April 2019 to 31 January 2025 amounting to £11.243 million. (Increasing by 3% on each 1 April.)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

PRESENT VALUES OF PROVISION

Provision Present value
RECONCILIATION OF THE OPENING AND CLOSING
PROVISIONS
Provision at start of period
Unwinding the discount factor (interest expense)
Deficit contribution paid
Remeasurements - due to change in assumptions
Remeasurements - adjustments to contribution schedule
Provision at the end of period
INCOME AND EXPENDITURE IMPACT
Interest expense
Remeasurements - due to change in assumptions
Remeasurements - adjustments to contribution schedule
ASSUMPTIONS
Rate of discount		 2023
£
2,897
2023
£
4,544
86
(1,656)
(77)
-
2,897
2023
£
86
(77)
-
2023
£
5.52		 2022
2021
£
£
4,544
34,220
2022
£
34,220
197
(8,660)
(104)
(21,109)
4,544
2022
£
197
(104)
(21,109)
2022
2021
£
£
2.35
0.66

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using the full AA corporate bond yield curve to discount the same recovery plan contributions.

29

JOHN STORER CHARNWOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

19. CONNECTED CHARITY

The affairs of John Storer Charnwood (JSC) are closely connected with those of John Storer House Foundation (JSHF) and there is an overlap of trusteeship between the governing bodies of the two Charities.

The financial affairs of the two charities are closely linked and this results in JSHF by JSC in results in the sum due from JSHF to JSC. The balance owed by JSHF to JSC at 31 March 2023:

Due from John Storer House Foundation 2023
2022
£
£
57,310
189,311

30