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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 04300967 (England and Wales) REGISTERED CHARITY NUMBER: 1090253

Report of the Trustees and

Financial Statements

for the Year Ended 31 March 2024

for

Thurrock CVS (Community and Voluntary

Service)

Thurrock CVS (Community and Voluntary Service) Contents of the Financial Statements for the Year Ended 31 March 2024

Page
Report of the Trustees 1 to 15
Report of the Independent Auditors 16 to 18
Statement of Financial Activities 19
Balance Sheet 20
Cash Flow Statement 21
Notes to the Cash Flow Statement 22
Notes to the Financial Statements 23 to 37

Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31st March 2024 to meet the requirements for a directors’ report for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statements 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).

OUR PURPOSE AND ACTIVITIES

The Objects of the Charity as set out in the Company Memorandum of Association are:

The role and contribution of volunteers

Thurrock CVS values the support of its volunteers in the organisation. We simply could not deliver our charitable aims without the invaluable support of our volunteers. Volunteers support all areas of the charity including staffing the reception, providing administrative support, maintaining the garden, being Board members and providing project support. In the last year volunteers contributed over 4,400 volunteer hours. We estimate their financial worth to Thurrock CVS by multiplying the hours contributed by a national rate of the minimum wage. This results in an estimated contribution in the region of £50,336, excluding any national insurance, pension, recruitment or other costs that would normally be incurred by employers.

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

Thurrock CVS Annual Report 2023/2024

The year 2023/2024 has been one of reflection, growth, and achievement for Thurrock CVS. Early in the year, we hosted a series of Spring listening events where we engaged directly with our members to gather feedback on our strengths and areas for improvement. It was encouraging to hear how much our members value the support we provide, particularly praising our marketing team's efforts, the impact of our fabulous newsletter, and the quality of advice and guidance available. These events also highlighted the importance of continuing to improve our openness and transparency, insights which have informed our strategies and actions throughout the year.

In Summer 2023, following the sector listening exercises, the Board updated the strategic objectives to ensure the charity is focused on building strong foundations for the future.

The 6 strategic objectives for 2023/24 were:

  1. Building Financial Resilience.

  2. Creating a high-quality infrastructure offer.

  3. Creating a flexible and agile workforce.

  4. Fully developing the resource centre as an asset to the community and the sector.

  5. Developing an organisation that is representative of the community.

  6. Integrating the health and social care projects.

STRATEGIC REPORT

Summary of Key Achievements:

1. Financial Resilience In 2023/2024, we prioritised financial resilience, ensuring the charity’s long-term sustainability through robust financial governance. We improved Board reporting mechanisms, enabling more accurate and timely financial assessments. Our risk assessment procedures were enhanced, providing a clearer picture of potential challenges. This understanding enabled us to create new opportunities such as the creation of Thurrock Community Fund and being able to support important community projects such as the Purfleet Community Pantry.

2. High-Quality Infrastructure Support Programme in 2023/24, we focused on creating a high-quality infrastructure support programme to better serve our community. A significant achievement was the simplification of the membership process so that we can support more charities, community groups and social enterprises. We now have an established programme of regular events such as Let’s Talk, Networking Brunch, Training and Grant writing workshops which has facilitated greater engagement and collaboration among our members. The production of the CVS Strength of the Sector report provided invaluable insights into the needs and strengths of the voluntary sector in Thurrock. Additionally, the relaunch of the Stronger Together Partnership has enabled the sector to come together to navigate the system changes caused by the financial pressures felt within the system, particularly with the council and NHS. Our volunteer centre outreach programme goes from strength to strength and has helped to improve volunteer opportunities in Thurrock.

3. Creating a Flexible and Agile Organisation Our commitment to building a flexible and agile organisation has been evident in several key initiatives. We have increased staff engagement through activities such as away days and staff forums, fostering a culture of collaboration and innovation. Recognising the importance of technology, we have invested in systems training that enhance efficiency and streamline our operations, allowing us to respond more swiftly to the needs of our service users and community partners. I am pleased to say that our staff turnover and sickness levels remain low and are a credit to the commitment to the staff team.

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

4. Development of the Beehive Resource Centre

The Beehive Resource Centre has been a focal point of our efforts this year, playing an important role in our strategy to secure Thurrock CVS’s financial future. Faced with a historic financial deficit, we implemented a comprehensive 12-point action plan aimed at turning around this challenging position. This plan included measures to increase office occupancy, which we successfully achieved by attracting new tenants and improving our leasing processes.

In addition to filling vacant office spaces, we have seen an increase in the use of the community hall and training room. These efforts have not only increased revenue but also enhanced the centre's visibility as a vibrant community hub.

Environmental sustainability was another key focus. We took steps to reduce the centre's carbon footprint, such as improving energy efficient LED lighting and reducing waste. These initiatives not only aligned with our values but also contributed to cost savings, further strengthening our financial position.

Facility improvements were also a priority. We upgraded the Beehive’s Wi-Fi, ensuring that it meets the needs of both current and future users. These improvements have made the centre more attractive to potential tenants and users, enhancing its appeal and functionality.

5. Enhancing Organisational Representation

We have made significant strides in making Thurrock CVS more representative of the diverse community we serve. Through our engagement with Voice4Change, we have amplified the voices of underrepresented groups. We have also prioritised listening to our members, ensuring that their needs and perspectives are at the forefront of our decision-making processes.

6. Integrated Health and Social Care Projects

Thurrock CVS continues to play a pivotal role in advancing integrated health and social care projects, working closely with key partners to enhance the well-being of our community. Our collaboration with the Thurrock Alliance and Better Care Together has been instrumental in driving forward a shared vision for integrated care delivery. Through these partnerships, we have been actively involved in the development and support of Integrated Locality Teams, which are designed to bring health and social care services closer to the community. We have promoted online tools such as Frontline to support better visibility of health and social care groups and charities.

In addition to these collaborative efforts, Thurrock CVS has taken on a key role within the Health and Wellbeing Boards and Health Overview and Scrutiny Committees. Our involvement in these forums has enabled us to contribute to strategic discussions and ensure that the voluntary sector’s voice is heard in shaping health and care policies. By sharing information and working jointly with our partners, we have been able to make a more significant impact, ensuring that our community's needs are met with a coordinated and compassionate approach.

As we continue to engage in these essential partnerships, we are committed to building on this momentum, further integrating services, and enhancing the overall impact of health and social care in Thurrock.

As we conclude this year, we are proud of the progress we have made and remain committed to serving our community with resilience and dedication. Together, we look forward to building an even stronger future for Thurrock CVS.

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

Infrastructure support to the sector

Infrastructure support is funded via the Voluntary Sector Development fund of £72,000 per annum.

Thurrock CVS have a key role in supporting the sector in the following areas:

In 2023-24 we have continued developing our relationship with the sector, focused on increasing our membership and introduced a number of new initiatives. Support to the sector and members has included:

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

A key role has been to connect the voluntary and community sector of Thurrock, enabling them to work collaboratively and share resources. This has been achieved through the development of the Let’s Talk Forum and quarterly brunches with the sector.

Online Let’s Talk sessions are held on a monthly basis and provide an opportunity for groups and organisations to come together and feel part of something bigger. These sessions:

On a quarterly, we replace Let’s Talk with an in person Voluntary Sector Brunch, which provides an opportunity or groups and organisations to meet in person to build stronger relationships, providing the opportunity for collaborative working and peer support.

We continue to support regular network and strategic meetings as part of our infrastructure role, strengthening our sectors voice and influence on key decisions.

Volunteer Centre Thurrock

Volunteer Centre Thurrock is funded via the Voluntary Sector Development fund of £39,600 per annum.

The Volunteer Centre adheres to a high standard of practice to ensure that volunteering is promoted, recognised and coordinated across Thurrock. Commitment to this practice aims to ensure individuals have a positive volunteering experience and organisations benefit from consistent expert support.

As a Volunteer Centre, we need to ensure that we maintain the profile of volunteering and do our best to promote the various forms of volunteering including micro volunteering, youth volunteering, employee volunteering and supported volunteering.

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

Community Health Champion project

The Community Health Champion project began in April 22, initially a 6-month project to support the COVID vaccine uptake across the borough, but this was extended for a further 6 months. From 2023 the CHC project became a source of information sharing of public health messaging and has linked communities and individuals to public health support for smoking cessation, weight management, inoculations and sexual health advice to name a few. The Grant is a £138,000 annual grant and employs 5 staff. The grant ends in March 2025.

Stronger Together Thurrock

The Stronger Together Partnership was originally established to support and promote local initiatives that engage with communities. It has served as a vital platform for helping local residents access information through the Stronger Together website, which also highlights the positive developments within Thurrock. Operating from an asset-based approach, the partnership has been instrumental in advancing Asset-Based Community Development (ABCD) in Thurrock, leveraging existing community strengths to build more resilient and sustainable communities. Following COVID, the partnership has declined, and at the Resilience workshop in January 2024, the group reflected on both the original principles of Stronger Together, the lessons learnt from the past and the changing context we now operate within.

From these discussions, an action plan was agreed and now forms part of the Thurrock CVS system leadership priorities. The plan includes:

Stronger Together Social Media report

01/04/2023 - 31/03/2024 Facebook Total Page Reach 80,136 Total Page likes 1,104

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

Healthwatch Thurrock

Healthwatch Thurrock is currently funded by a 3 plus 1 year extension which comes to an end in March 2025. We received contract value of £131,987.24 per annum. Healthwatch Thurrock is a National Independent Organisation with 153 local and district Healthwatch’s across England, each one independent of the NHS and local authorities. It has a National lead in Healthwatch England. Healthwatch Thurrock sits as a project within Thurrock CVS, which enables it to benefit from all the resources of the whole Organisation when carrying out its function. The main business of Healthwatch Thurrock is to act as a consumer champion for health and social care across the Borough, to engage with and listen to residents’ lived experience of using services and producing reports to highlight the issues and good experiences of those using the services.

Healthwatch Thurrock also operates an information and signposting service for health and social care services available within Thurrock and listens to issues and complaints from residents, assisting them to take their complaint through the right procedures. Healthwatch Thurrock has seats on the Health and Wellbeing Board, People Overview and Scrutiny Committee, TICA (Thurrock Integrated Care Alliance) and other committees and Boards to share and feedback the lived experiences of the residents of Thurrock using services.

Healthwatch Thurrock has had another busy year, we completed 2 major projects, one around the lived experience of unpaid carers in Thurrock, this included speaking to working aged carers who are the main carer for a loved one, young carers, children and young people who carry out care roles for parents, grandparents or siblings. This report was accepted at the Thurrock Health and Care Overview and Scrutiny Committee and was used as the basis of the refreshed carers strategy.

We completed a report on the discharge process for Thurrock residents from our acute hospitals, this was open to both patients, carers, family members and professionals in the system. The lived experience of those who engaged to feed back to the system, it was a difficult piece of work and at times was difficult to hear some of the older more vulnerable resident's experiences. All our reports are available on our website www.healthwatchthurrock.org Our numbers for this year were as follows;

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

Social Prescribing

Social Prescribing funding is held by the 4 Primary Care Networks (PCN’s).

Grays PCN, Corringham and Stanford PCN, Tilbury and Chadwell PCN and Aveley, South Ockendon and Purfleet PCN.

CVS recently secured all 4 PCN’s social prescribing grants and have recruited to vacant posts.

We now have a total of 7 social prescribing link workers employed by CVS, we provide HR support, salary and annual leave, non-clinical supervision and general support. Although they work remotely they are very much part of the CVS workforce.

The current grants are due to end in 2025/26.

By Your Side

By Your Side (BYS) home from hospital project sits within Thurrock CVS and was set up and designed to support people who are being discharged from hospital to help facilitate their discharge home, and to support them once home with shopping and prescriptions.

The actual work undertaken can involve joint visits with Social Workers to the property before discharge, overseeing cleaning and adaptations, taking delivery of hospital equipment and overseeing set up, fitting key safes to allow safe access for carers and community nurses. It can involve helping to move someone’s belongings from their home to sheltered accommodation, to step down placements or to Residential Placements. The work changes from day to day and from client to client, but is always busy, with very much a ‘can do’ attitude in the team.

The team also ensure they refer any person they are supporting into Voluntary and Community services within Thurrock as appropriate for continued support once they have completed their input, which is usually after 6 weeks. They also share the Micro Enterprise list so that patients can identify services to support them going forward if they wish to.

On all referral forms completed by the Hospital or Adult Social Care, we ask how many bed days and how many Social Care hours were saved by the BYS project’s intervention. The following are the numbers given:

Having looked at the massive increase in numbers being referred for help to not only support their discharge but to also offer support to prevent readmission, we submitted a business plan to offer an increase to 7- day working, this was accepted, and the funding for the next 2 years has doubled to £140,000 from 70. We have recruited another full-time worker, and the 7-day cover will be on a weekend call out system between 3 workers. The service also relies on a very dedicated team of volunteers.

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

Public benefit statement

The Trustees 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. Thurrock CVS provides public benefit through improving the lives of residents and communities of Thurrock through our support for voluntary and community organisations, training and supporting their staff and trustees, and providing representation of the voluntary and community organisations with strategic partners along with the projects that we deliver to support individual residents across Thurrock.

FINANCIAL REVIEW

The year under review for the charity closed with a deficit of £102,558 (2023 – £177,962) on gross income of £845,099 (2023 - £1,246,976). The financial position at the year-end as revealed by the balance sheet on page 20 shows net current assets of £707,688 (2023 - £794,796). The net book value of fixed assets held, all of which are used directly for charitable purposes, amounted to £444,483 (2023 – £459,933).

In 2024 total reserves closed at £1,152,171 (2023 - £1,254,729). This figure includes the Beehive Resource Centre with a net book value of £442,920 (2023: £457,200). The Resource Centre is not a cashable asset. The Beehive Resource Centre is the charities office. The unrestricted funds not designated or invested in tangible fixed assets held by the charity are £152,444 (2023 - £429,588). This level of reserve is in line with our reserves policy (see below).

The Board monitors reserve levels quarterly, balancing responsible financial management with the delivery of the charity's core objectives.

Principal funding sources

Investment powers and policy

The Investment Policy of the charity is for uncommitted funds to be retained in a portfolio of banks and building societies earning interest where possible. The charity will not invest funds in accounts or instruments involving risk and the portfolio will be diversified so as to minimise the risk of loss in the event of the failure of the bank or building society. The Charity will endeavour to ensure that amounts held in any one institution do not exceed the Financial Services. Compensation Scheme thresholds (currently £85,000).

Reserves policy

As at the year-end accounts showed reserves of £1,152,171 (2023 - £1,254,729), of which £577,508 (2023 - £643,061) were restricted. In addition, the Trustees have set aside designated funds £420,656 (2023 - £179,347) for the specific purposes of building maintenance and redundancy. The unrestricted funds not designated or invested in tangible fixed assets held by the charity are £152,444 (2023 - £429,588).

The reserves policy of the charity is to maintain a level of unrestricted reserves to cover:

  1. Between 3 and 6 months of necessary core expenditure to allow for an ordered shut down of the charity including redundancy costs and for suitable management arrangements to be made for ongoing activities, and

  2. Any amounts needed to cover either capital or unrestricted revenue commitments in existence at the year end.

Total unrestricted funds as at 31 March 2024 were £574,663 which after allowing for unrestricted revenue commitments and closure costs amounted to 4.5 months total unrestricted, budgeted 2024-25 commitments.

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

Fundraising standards

The trust is not registered with the Fundraising Regulator and the charity has not carried out any significant fundraising activities.

Charitable and political donations

During the year, the company made no political or charitable donations.

  1. To ensure our work with groups and organisations provided sustainability for the sector during the pandemic.

  2. To ensure the Voluntary Sector and Communities were represented at a strategic level, highlighting the importance of the sector during the pandemic.

In addition, we continued to support our work set out in our Strategic Plan to:

  1. To ensure that TCVS is financially resilience.

  2. To build a nationally accredited infrastructure support function which adds demonstrable value to the sector.

  3. Development of flexible working practices to create agile culture.

  4. Fully develop the resource centre as an asset to the sector and the community.

  5. To develop an organisation which is representative of the community.

  6. To ensure all TCVS’s 4 Health and Social Care projects work together to deliver a high-level Service.

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Thurrock CVS is a registered charity and a company limited by guarantee. The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed under its Articles of Association last amended November 2009. There are currently 211 members (2022/23 - 159) each of whom agrees to contribute £1 in the event of the charity being wound up.

Appointment of trustees

Trustees are selected from those who volunteer their services. Anyone may volunteer. In determining who to appoint Trustees have regard to the qualifications and experience of potential Trustees. Applications are invited in particular from persons with experience of voluntary and community services and from persons with senior management experience in the charitable sector.

Under the requirements of the company’s Articles one third of the Trustees resign annually and are eligible for re-election.

The charity has a wide range of support, engagement and representative functions and, as a result, seeks to ensure that the knowledge and experience of the Trustees covers a wide range of voluntary and community activities, sector representation, leadership development and strategic level decision-making in addition to business and management skills.

All Trustees give their time voluntarily and receive no benefit from the charity. Any expenses reclaimed from the charity are set out in note 10 to the Accounts.

Trustee induction and training

New trustees undergo an induction programme. All trustees are notified of relevant workshops, training days and seminars concerning issues relevant to good governance and to best practice in the voluntary & community sector. During the year, the Board attended a number of away days to continue the process begun in the previous financial year of formulating a strategy for the organisation for the next five years.

Organisation

The Board of Trustees administers the charity by means of the Board which meets bi-monthly. All Trustees are also Directors of the Company for Companies Acts purposes. Board members are appointed by the Annual General Meeting with one third of the Board standing down each year. The Board is responsible for the strategic direction of the charity and for policy decisions. In addition to maintaining an overview of the organisation’s activities, the Board also controls HR policies and appointments and makes all decisions involving major investment or expenditure.

A Chief Executive is appointed by the Board to manage the day to day running of the charity. The Chief Executive has delegated authority for operational matters including finance, human resources and the delivery of services to people supported by the organisation, within certain limits. Decisions which will commit the charity beyond these limits require the approval of the Board.

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

Related Parties

Thurrock CVS was formed by the voluntary sector within Thurrock as a membership organisation to provide support and guidance to charitable and other voluntary groups working for the benefit of the people of Thurrock. The charity, therefore, has close working relationships with many groups and organisations.

The Board of TCVS comprises 9 individuals none of whom individually are in a position to control or exert significant influence over the decisions of the charity.

Apart from the Board there are a number of other significant stakeholders including members and Thurrock Council, NHS Thurrock Alliance and Basildon and Thurrock University Hospitals NHS Foundation Trust none of whom exercise a degree of influence or involvement with the charity sufficient to be deemed a related party.

Pay policy for senior staff

Increases to pay scales are generally based on levels of inflation, affordability and benchmarks from the nationally negotiated percentages (NJC pay scale). Pay scale reviews and the pay scale that is set for each role, including for all senior staff, is considered by the personnel sub-committee of the Executive Committee (EC), which makes recommendations to the full EC to make the final decisions.

Internal Control

The Trustees have overall responsibility for ensuring that the charity has appropriate systems of internal control across the entire organisation. Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements follow best practice. They are also responsible for safeguarding assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The systems of internal control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. Internal control processes implemented by the Trustees include:

Risk management

The Directors and Trustees have identified the major risks to which the charity is exposed and believe that the systems in place are adequate to mitigate those risks.

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Thurrock CVS (Community and Voluntary Service) Report of the Trustees for the Year Ended 31 March 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Company No: 04300967

Charity No: 1090253

Directors/Trustees

Michael Kelly – Interim Chair from 10/11/2020 Michael Hursthouse – Treasurer / Vice Chair 10/11/2020 Anthony Fish Scott Sullivan Tunde Ojetola Kevin Brice Roger Harris Tania Sitch Naveed Bakhshi

Senior Management Personnel:

Mark Tebbs- Chief Executive Officer Kim James – Chief Operating Officer of Healthwatch Thurrock Project Jacqui Payne – Head of Infrastructure & Community Development Viv Nunn – Business Manager/Office Manager

Registered and Principal Office:

The Beehive Voluntary & Community Resource Centre West Street, Grays, Essex RM17 6XP

Auditors: SCB (Accountants) Ltd,31 Sackville Street, Manchester, M1 3LZ

Bankers: Unity Trust Bank Plc. Nine Brindley Place, Birmingham B1 2HB

Solicitors: Bates Wells & Braithwaite, 2-6 Canon Street, London EC4M 6YH

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Thurrock CVS Communi and Voluntar Re ort of the Trustees for the Year Ended 31 March 2024 Service STATEMENT OF DIRECTORS, I TRUSTEES, RESPONSIBILITIES The trustees (who are also directors of Thurrock CVS for the purposes of company law) are responsible for preparing the Trustees, 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 Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under company law the Directors musl not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of ils income and expendilure for Ihat period. In preparing these financial statements, the Directors are required to.. Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP. Make judgements and estimates Ihat are reasonable and prudent. State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slalements. Prepare Ihe financial statements on the going concern basis unless it is inappropriate lo presume that the charitable company will continue in business. The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assels of the company and hence for takin9 reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for maintenance and integrity of the corporate and financial infomiation included on Ihe charitable company's websile. Legislation in the United Kingdom governing the preparation and dissemination of financial slalements may differ from legislation in other jurisdictions. STATEMENT OF DISCLOSURE TO AUDITOR So far as the Trustees are aware, there is no relevant audit information of which the company's auditors are unaware. Additionally, the Trustees have taken all the necessary steps Ihat we ought lo have taken as Irustees in order lo make themselves aware of any relevant audit information and lo establish that the Charity's auditors are aware of that information. Auditors A resolution will be proposed at the Annual General Meeting thal SCB (Accountants) Limited be re-appointed as auditors of the charity for the ensuing year. This report has been prepared in accordance with the special provisions relaling to small companies within Part 15 of the Companies Act 2006. APPROVAL Signed on behalf of the Executive Committee. Mike Kelly Date.. - 1%/1012024 Chairperson Page 15

Report of the Independent Auditors to the Members of Thurrock CVS (Community and Voluntary Service) for the Year Ended 31 March 2024

Opinion

We have audited the financial statements of Thurrock CVS (Community and Voluntary Service) (the ‘charitable company’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, comprising Charities SORP – FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial 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 Auditors’ 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 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 directors 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 Annual Report, other than the financial statements and our Report of the Independent Auditors 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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have

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Report of the Independent Auditors to the Members of Thurrock CVS (Community and Voluntary Service) for the Year Ended 31 March 2024

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 matter prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the 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 Report of the Trustees.

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

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, 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 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 extent to which our procedures are capable of detecting irregularities, including & audit, is detailed below:

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Re ort of the Inde endent Auditors to the Members of Thurrock CVS Communit and Volunta Service for the Year Ended 31 March 2024 We gained an understanding of the legal and regulatory framework applicable lo the company and the industry in which il opèrates and considered the risk ofacts by the company that were contrary to applicable laws and regulations, including &aud. We discussed wilh the Directors the Fiolicies and proc8dures in place regarding compliance with laws and regulations. We discussed amongst the audit team the identified laws and regLfrlations and remained alert lo any indications of non-compliance. During the audit we focussed on laws and regulations which could reasonably be expected to give rise to 8 malerial misstatement in the financial statements. including, but not limited to. the Charity Act 2011, Companies Act 2006, SORP 2019 and UK tax legislation. Our tests included agreeing Ihe financial slatemenl disclosures to underlying supporting documentation and enquiries with management. Our procedures in relation to fraud included bul were not limited lo inquires of management whether they have any knowledge of any actual. suspected, or alleged fraud, and discussions amongst the audit team regarding risk of fraud such as opportunities for fraudulent manipulation of financial statements. We determined that the principal risks related to posting manual journal entries to manipulate financial performance and management bias through judgemenls in accounting estimates. We also addressed the rlsk of management overrlde of inlernal controls, including testing journa15 and approprlateness of other entries in the nomlnal ledger,. reviewing transactions around the end of the reporting period,. and evaluating whether there was evidence of bias by the directors that represented a rlsk of material mlsstatement dua to fraud. Because of the Inherent Ilmltatlons of an audlt. there is a rlsk that we wlll not detect all Irregularltles, including those leading lo a material misslatemenl in the financial statements or non-complianc8 With regulation. Thls rlsk increases the more that compllance with a law or regulalion is removed from the events and Iransactions reflected in the financial statements, as we will be less likely lo become awar8 of instances of non- compliance. The risk Is also greater regarding irregularitl8s occurring due to fraud rather than error, as fraud Involves inlentional concealmenl, forgery, collusion, omission, or misrepresentation. A further description of our responsibilities for th8 audit of the financial statements Is located on the Flnancial Reportlng Council's website al www.frc.or .uklauditorsres auditorfs report onsibilities. This description forms part of our Use of our report This report is made solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act (Regulation 30 of the Charities (Accounts and Reports) Regulations 20081 and for no other purpose. Our audit work has been undertaken so that we might stale to the charity's trustees 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 ils trustees as a body, for our audit work. for this report, or for the opinlons we have formed. JEFFREY BOR FCA (Senlor Statutory Audltor) for and on behalf of SCB IA¢¢ountants) Ltd CHARTERED ACCOUNTANTS STATUTORY AUDITOR 31 Sackvllle Streel Manchestor, M13LZ Dale: 3011012024 Page 18

Thurrock CVS (Community and Voluntary Service) Statement of Financial Activities (Summary Income and Expenditure Account) for the Year Ended 31 March 2024

Unrestricted Restricted
Notes Funds Funds 2024 2023
£ £ £ £
Income
Income from charitable activities
Grants and contract income
Resource Centre Income
Income from other trading activities		 2
3
4		 453,737
131,365
11,013		 246,824
-
-		 700,561
131,365
11,013		 1,087,476
119,048
39,883
Investment income 5 2,160 - 2,160 569
Total Income 598,275 246,824 845,099 1,246,976
Expenditure
Raising funds
Raising donations and legacies
Charitable activities		 6
6		 76,452 - 76,452 93,887
Resource centre 179,230 40,812 220,042 208,280
Infrastructure Support 71,782 - 71,782 87,229
Projects 307,816 271,565 579,381 679,618
Total Expenditure 635,280 312,377 947,657 1,069,014
Net income/(expenditure) & net movements
in funds		 (37,005) (65,553) (102,558) 177,962
Reconciliation of funds:
Transfers between funds		 - - - -
Total funds, brought forward 611,668 643,061 1,254,729 1,076,767
Total funds, carried forward 574,663 577,508 1,152,171 1,254,729

(The Beehive Resource Centre from where the charity operates) and current assets of £134,588. As such the significant majority of restricted funds remain tied up within the value of the property from which Thurrock CVS operates.

The Statement of Financial Activities includes all gains and losses recognised in the year.

All incoming resources and resources expended derive from continuing activities.

The notes on pages 23 to 37 form part of these financial statements

Page 19

Thurrock CVS Communit and Volunta Balan￿ Sheet 31 March 2024 Service Notes 2024 2023 Fixed Assets Tangible Fixed Assets 444,483 459,933 Current Assets Debtors Cash at bank and in hand 12 26,927 868,728 14,029 1,016,577 895,655 1,030,606 Llabllltles Creditors.. due wlhin one year (187, 967) (235,810) Net Current Assets 707,688 794,798 N8t Assets 1,152,171 1,254,729 The funds of the charlty Unrestricted funds.. General Designated Restricted funds 15 154,008 420,656 577,508 432,321 179,347 643,061 15 Total charlty funds 1,152,171 1,254,729 These financial statements have been prepared in accordance wilh the provisions applicable to charitable companies subject to the small companies, regime. The financial statements were approved by the Board of Trustees and authorised for issue on .7811.9.1.29.24.......... nd were signed on its behalf by.. Mlke Kelly Chairperson The notes on pages 23 to 36 form part of these financial statements Page 20

Thurrock CVS (Community and Voluntary Service) Cash Flow Statement for the Year Ended 31 March 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Interest income
Purchase of tangible fixed assets
Net cash (used in)/provided by investing activities
Change in cash and cash equivalents in the reporting period
Cash & cash equivalents at the beginning of the reporting period
Total cash & cash equivalents at the end of the reporting period		 2024
2023
£
£
(148,977)
(143,693)
(148,977)
(143,693)
2,160
569
(1,032)
(1,956)
1,128
(1,387)
(147,849)
(145,080)
1,016,577
1,161,657
868,728
1,016,577

The notes form part of these financial statements

Page 21

Thurrock CVS (Community and Voluntary Service) Notes to the Cash Flow Statement for the Year Ended 31 March 2024

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

Net cash generated/ (used) in operating activities:

Net income/(expenditure) for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Deduct interest income shown in investment activities
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by operations		 2024
2023
£
£
(102,558)
177,962
16,482
16,714
(2,160)
(569)
(12,898)
3,358
(47,843)
(341,158)
(148,977)
(143,693)

ANALYSIS OF CHANGE IN FUNDS

Net Cash
Cash at bank and in hand
Total		 At 01.04.23
Cash flow
At 31.03.24
1,016,577
(147,849)
868,728
1,016,577
(147,849)
868,728

The notes form part of these financial statements

Page 22

Thurrock CVS (Community and Voluntary Service) Notes to the Financial Statements for the Year Ended 31 March 2024

ACCOUNTING POLICIES

1.1 Basis of preparation of accounts

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) (effective 1 January 2019) – (Charity SORP (FRS 102) Revised), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Thurrock CVS (Council for Voluntary Services) meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

1.2 Preparation of accounts on a going concern

The charity’s Financial Statements shows deficit of £102,558 for the year and total unrestricted reserves of £574,663 the charity has adequate general funds to be able to maintain the level of services currently provided and to provide a secure base for the immediate future of the Charity for the next 12 to 18 months and on this basis the charity is a going concern.

Trustees will continue to monitor and ensure that spending is in line with income in order to maintain reserves at or above the minimum level of between 3 and 6 months’ average unrestricted expenditure. The review of forecast cashflow for the12 months from the date of approval of the financial statements, considered the relevant assumptions that underpin the forecast, the pipeline of new income and the steps that could be taken to reduce expenditure should this be necessary.

Based on the information above, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operation for the foreseeable future and will remain in surplus in future periods. Therefore, the trustees have adopted the going concern basis in preparing these accounts.

1.3 Income recognition

All income is included in the SOFA when the charity is legally entitled to it, receipt is probable, and the amount can be measured with sufficient reliability.

Grant income

Grants are credited to the SOFA when the charity is entitled to the funds. Income is only deferred where there are time constraints imposed by the donor or if the funding is performance related.

Where entitlement to grants receivable is dependent upon fulfilment of conditions within the charity’s control, the income is recognised when there is sufficient evidence that conditions will be met.

Grants supporting the core activities of the charity and with no specific restrictions placed upon their use are included within donations and legacies. Grants that have specific restrictions placed upon their use are included within income from charitable activities. Capital grants for the purchase of fixed assets are credited to restricted incoming resources on the earlier date of when they are received or receivable. Deprecation on the related fixed assets are charged against the restricted fund.

Donations and legacies

Donations are recognised in the period in which they are received. Legacy income is recognised when the charity’s entitlement is judged to be probable and where the amount can be reliably measured.

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Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

ACCOUNTING POLICIES-continued

Contract income

Income from charitable activities includes income recognised as earned (as the related goods and services are provided) under contract.

Room hire and service change income

Room hire and service charge income are credited to income in the year in which they are receivable.

Investment income

Investment income is included when receivable.

1.4 Expenditure recognition 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. Expenditure is classified under the following activity headings:

(a) Cost of raising funds comprises costs of seeking grants and donations and their associated support costs. (b) Expenditure on charitable activities includes the costs directly associated with running a resource centre, providing infrastructure services for local voluntary community and faith section organizations to further the purposes of the charity and their associated support costs.

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

1.5 Allocation of support costs

Support costs relate to those functions that assist the work of the charity but do not directly relate to charitable activities. Support costs include back-office costs, finance, personnel, payroll, and governance costs which support the charity’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The basis on which support costs have been allocated are set out in note 6.

1.6 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), the general volunteer time is not recognised and refers 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.

1.7 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.

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Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

ACCOUNTING POLICIES-continued

1.8 Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Individual fixed assets costing £1,000 or more are capitalised at cost.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases. Freehold land is not depreciated.

Leasehold Land & Buildings - On a straight-line basis over its estimated useful life Computer Equipment - 33% per annum on cost

Fixtures & Office Equipment - 25% per annum on cost

1.9 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.

1.10 Cash at bank and in hand

Cash at bank and in hand includes cash and short term cash deposits.

1.11 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will 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.

1.12 Conduit Funding

Thurrock CVS administers funds on behalf of Statutory Partners as an agent. As agent, the charity acts in line with the instructions of the entity that acts as the principal. The charity is bound by an agreement and distributes the funds it holds as agent to specified third parties in line with the instructions given by the principal.

The funds transferred to the agent remain under the control of the principal and the principal remains responsible for the charitable application of those funds.

Funds received by a charity as agent are not recognised as an asset in its accounts because the funds are not within its control. Consequently, the receipt of funds as agent is not recognised as income nor is its distribution recognised as the agent’s expenditure. The conduit fund balances as at the year-end are recognised as creditors.

1.13 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.

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Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

ACCOUNTING POLICIES-continued

1.14 Judgement and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, be definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

(ii) Provision for bad debts

Provision are consistent with previous year and review of post year end receipts or credit notes issued.

(iii) Allocation of shared cost between multiple activities

Support costs relate to those functions that assist the work of the charity but do not directly relate to charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the charity’s programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. All the general support and governance costs are allocated to activities at different percentages, on the basis of staff time relating to each activity.

(iv) Gift in kind and donated services

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.

1.15 Pension Costs

The charity operates a contributory defined contribution pension scheme, the assets of which are held separately from those of the charity. Pension costs are charged to the SOFA in the period to which they relate.

1.16 Operating Leases

Rentals payable under operating leases are charged to the SOFA as incurred over the life of the lease.

1.17 Taxation

The charity is a registered charity and, therefore, is not liable for Income Tax or Corporation Tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

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Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

2. INCOME FROM CHARITABLE ACTIVITIES

GRANT AND CONTRACT INCOME

Projects
Thurrock Council
Aveley, South Ockendon & Purfleet PCN
Stanford-le-Hope & Corringham PCN
Tilbury & Chadwell PCN
Grays PCN
Community 360
National Lottery Community Fund
NHS Mid & South Essex ICB
Donations
Giving for Thurrock (GIFT)
Essex County Council
Essex County Council - Active Essex
Essex Community Foundation
Thurrock Lifestyle Solutions
Thurrock Council for Brexit Support
CCG Vaccine Inequalities Fund
Infrastructure Support
Thurrock Council
Contract income
Thurrock Regeneration Homes Ltd
NHS Mid & South Essex ICB
NHS Mid & South Essex ICB
Hamelin Trust
Total		 Unrestricted
Restricted
Total
Total
Funds
Funds
2024
2023
£
£
£
£
190,945
216,824
407,769
783,628
37,000
-
37,000
35,389
49,864
-
49,864
35,389
-
-
-
35,389
36,040
-
36,040
35,389
2,485
-
2,485
-
-
-
-
700
-
30,000
30,000
30,000
6,298
-
6,298
1,765
31,805
-
31,805
38,466
500
-
500
-
16,000
-
16,000
-
5,000
-
5,000
-
1,300
-
1,300
-
-
-
-
4,980
-
-
-
2,999
72,000
-
72,000
80,000
-
-
-
2,410
200
-
200
972
3,675
-
3,675
-
625
-
625
-
453,737
246,824
700,561
1,087,476

Income from charitable activities from grants and contracts in 2023 totalling £1,087,476 was attributed to unrestricted funds of £748,559 and restricted funds £338,917.

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Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

3. RESOURCES CENTRE INCOME

Resource Centre Income
Internal Income		 Unrestricted
Restricted
Total
Total
Funds
Funds
2024
2023
£
£
£
£
127,120
-
127,120
114,978
4,245
-
4,245
4,070
131,365
-
131,365
119,048

Income from Charitable activities from the Resource Centre in 2023 totalling to £119,048 was attributed to unrestricted funds.

Resource Centre Income comprises contributions towards running costs of the Beehive from the other occupants and income from day/ evening hire of rooms and the Community Hall. Internal income comprises income for the provision of stationery, franking machinery and photocopy services to the members.

4. OTHER TRADING ACTIVITIES

Management and administration income
Other income
Membership fees
Giving for Thurrock		 Unrestricted
Funds
£
7,529
2,313
550
621		 Restricted
Funds
£
-
-
-
-		 Total
Total
2024
2023
£
£
7,529
17,867
2,313
19,521
550
835
621
1,660
11,013
39,883
11,013 -

funds and £18,644 was attributed to restricted fund.

5. INVESTMENT INCOME

Interest Received Unrestricted
funds
2,160		 Restricted
funds
-		 2024
2023
£
£
2,160
569

Interest income of £569 earned in 2023 was attributable to unrestricted funds.

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continued...

Thurrock CVS (Community and Voluntary Service)

- Notes to the Financial Statements continued for the Year Ended 31 March 2024

6. ANALYSIS OF EXPENDITURE

Staff Costs
Other direct costs
Support costs (Note 7)
Governance costs (Note 7)
Total		 Raising
Resource Infrastructure
Total
Total
Funds
Centre
Support
Projects
2024
2023
£
£
£
£
£
£
73,736
79,007
56,185
411,220
620,148
759,968
-
129,055
1,445
103,006
233,506
186,988
2,496
11,008
13,004
59,869
86,377
115,351
220
972
1,148
5,286
7,626
6,707
76,452
220,042
71,782
579,381
947,657
1,069,014

Of the £947,657 expenditure in 2024 (2023 - £1,069,014), £635,280 was charged to unrestricted funds (2023– £769,188) and £312,377 to restricted funds (2023 - £299,826).

7. SUPPORT COST

The Charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Governance costs and other support costs are apportioned separately between the charity’s key activities (see note 6) in the year. All the general support and governance costs are allocated to activities at different percentages, on the basis of staff time relating to each activity.

Staff Costs
Communication & IT Costs
Legal and professional expenses
Other expenses
Auditor's remuneration		 General Support
Governance
Total
Total
Costs
Function
2024
2023
£
£
£
£
32,157
-
32,157
43,114
1,530
-
1,530
17,660
-
-
-
49,314
52,690
-
52,690
5,263
-
7,627
7,627
6,706
86,377
7,627
94,004
122,057

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Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

8. NET INCOME/(EXPENDITURE)

Net Income/ Expenditure is stated after charging or crediting

2024 2023
£ £
Auditors' Remuneration - Audit Services 6,427 5,506
Auditors' Remuneration - Non Audit Services 1,200 1,200
Depreciation Owned Assets 16,482 16,714

9. TRUSTEES REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

TRUSTEES’ EXPENSES

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

10. STAFF COST

Gross Wages and Salaries
Employer's National Insurance
Pension Contributions		 2024
2023
£
£
592,783
727,247
44,226
53,620
15,297
18,509
652,306
799,376

There was no (2023 – nil) employee whose total annual employee benefits (excluding employer pension cost) exceed £60,000.

The key management personnel of the charity comprise of the Chief Executive Officer, Chief Operating Officer of Healthwatch Thurrock Project, Community Development and Engagement Manager and Business Manager and Office Manager. The total employee benefits of the key management personnel of the charity were £197,721 (2023 - £140,511).

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Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

STAFF COST-continued

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

Resource Centre
Infrastructure Project
Projects
Governance and Support
Fund Raising		 2024
2023
4
4
3
4
21
27
1
1
1
1
30
37

11. TANGIBLE FIXED ASSETS

Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Long
Leasehold
£
1,284,464
-		 Fixture and
Fittings
£
15,293
-		 Computer
Equipment
Total
£
18,751
1,318,508
1,032
1,032
1,284,464 15,293 19,783
1,319,540
827,264
14,280		 15,293
-		 16,018
858,575
2,202
16,482
841,544 15,293 18,220
875,057
442,920 - 1,563
444,483
457,200 - 2,733
459,933

At 31 March 2013 the charity’s interest in the Beehive was subject to an impairment review in accordance with Financial Reporting Standard 11, Impairment of Fixed Assets. This review resulted in a write down in the carrying value of the building to £600,000 based upon its future net earning potential over the remaining useful life and further written down by £157,800 as an additional depreciation charged up to 31 March 2024.

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Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments
Other debtors		 2024
2023
£
£
16,565
3,892
10,362
10,087
-
50
26,927
14,029

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Taxation and social security
Pension fund
Other creditors
Accruals
Conduit funds (note 22)
Deferred income (note 18)		 2024
2023
£
£
13,825
9,862
19,792
16,615
155
(25)
942
23
11,578
19,849
535
35,805
141,140
153,681
187,967
235,810

The creditors figure includes undistributed funds held on behalf of Thurrock Council, as conduit funds of £535 (2023 - £35,805) (Note 22)

14. ANALYSIS OF NET ASSET BETWEEN FUNDS

Tangible fixed assets
Net current assets		 General
£
1,563
152,444
154,008		 Designated
£
-
420,656
420,656		 Restricted
Total 2024
£
£
442,920
444,483
134,588
707,688
577,508
1,152,171

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Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

Analysis of net assets between funds - previous year

Tangible fixed assets
Net current assets		 General
£
2,733
429,588
432,321		 Designated
£
-
179,347
179,347		 Restricted
Total 2023
£
£
457,200
459,933
185,861
794,796
643,061
1,254,729

15. MOVEMENT IN FUNDS

Restricted funds
Resource Centre (Building)
South Ockendon Centre
Chadwell St Mary Community Centre
Community Roll Out Program
Tilbury Hub
Purfleet Hub
By Your Side - Home from Hospital
Better Care
Community health Champions
Multiply
Designated funds
Building maintenance fund
Redundancy fund
Giving for Thurrock (GIFT)
Food Network Coordinator
Healthwatch
General funds
Total unrestricted funds
Total funds		 Balance at
Balance at
01.04.2023
Income
Expenses
Transfers
31.03.2024
£
£
£
£
£
457,200
-
(14,280)
-
442,920
26,532
(26,532)
-
-
29,623
-
-
-
29,623
7,384
-
(372)
-
7,012
32,524
-
(32,524)
-
-
4,452
241
(231)
-
4,462
24,529
100,810
(105,681)
-
19,658
4,501
-
-
-
4,501
56,317
138,772
(131,041)
-
64,048
-
7,001
(1,716)
5,285
643,061
246,824
(312,377)
-
577,508
47,921
8,000
(30,505)
10,000
35,416
60,039
-
-
39,961
100,000
71,387
46,562
(7,891)
85,000
195,058
-
1,300
(5,304)
30,634
26,630
-
140,119
(128,156)
51,588
63,552
179,347
195,981
(171,856)
217,183
420,656
432,321
402,294
(463,424)
(217,183)
154,008
611,668
598,275
(635,280)
-
574,663
1,254,729
845,099
(947,657)
-
1,152,171

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continued...

Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

Analysis of movements in funds - previous year

Restricted funds
Resource Centre (Building)
South Ockendon Centre
Chadwell St Mary Community Centre
Community Roll Out Program
Tilbury Hub
Purfleet Hub
Aveley Hub
By Your Side - Home from Hospital
Better Care
Community health Champions
Essex Community Foundation
National Lottery Community Fund
Contract income
Designated funds
Building maintenance fund
Redundancy fund
Giving for Thurrock (GIFT)
General funds
Total unrestricted funds
Total funds		 Balance at
Balance at
01.04.2022
Income
Expenses
Transfers
31.03.2023
£
£
£
£
£
471,480
-
(14,280)
-
457,200
26,893
(361)
-
26,532
12,844
16,808
(29)
-
29,623
10,075
-
(2,691)
-
7,384
37,691
-
(5,167)
-
32,524
6,831
-
(2,379)
-
4,452
3,393
-
(3,393)
-
-
9,156
102,096
(86,723)
-
24,529
4,501
-
-
-
4,501
-
238,657
(182,340)
-
56,317
15,000
-
-
(15,000)
-
15,491
(2,464)
(13,027)
-
3,600
-
-
(3,600)
-
616,954
357,561
(299,827)
(31,627)
643,061
37,921
-
-
10,000
47,921
60,039
-
-
-
60,039
-
40,628
(1,016)
31,775
71,387
97,960
40,628
(1,016)
41,775
179,347
361,854
848,786
(768,172)
(10,148)
432,321
459,814
889,414
(769,188)
31,627
611,668
1,076,767
1,246,976 (1,069,014)
-
1,254,729

Description, nature and purpose of restricted funds:

Resource Centre: The Beehive provides office, meeting and training accommodation for voluntary and community groups in Thurrock. The building opened in 2005 and is now an asset of Thurrock CVS as part of an asset transfer of the freehold from Thurrock Council.

Community Hub Roll Out Programme: This programme brings together statutory bodies, local communities and the voluntary sector to deliver services, information and advice in a more holistic way. We are currently working with 5 community forums to establish a hub in their area. These funds are seed funding and capacity building for the programme in each area.

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continued...

Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

MOVEMENT IN FUNDS-continued

South Ockendon Centre: The South Ockendon Centre was the first of a series of community hubs to be set up in Thurrock and is a joint venture partnership between Thurrock Council, Thurrock CVS and South Ockendon Community Forum. The purpose of the Centre is to provide a focal point within the local community, where local residents can seek advice or signposting from Third Sector or Statutory organisations, access services online, join groups and activities and strengthen the community to become more resourceful and resilient.

Chadwell St Mary Community Centre: As part of the Community Hubs rollout programme, Chadwell St Mary Centre received funding to support the employment of a centre co-ordinator; payroll and HR are administered by Thurrock CVS on behalf of Chadwell St Mary Centre.

Tilbury Hub: As part of the Community Hubs rollout programme, Tilbury Hub received funding to support the employment of a volunteer co-ordinator; payroll and HR are administered by Thurrock CVS on behalf of Tilbury Hub steering group.

Purfleet Hub: As part of the Community Hubs rollout programme, Purfleet Hub received funding to support the employment of a volunteer co-ordinator; payroll and HR are administered by Thurrock CVS on behalf of Purfleet Hub steering group.

Aveley Hub: As part of the Community Hubs programme, Aveley received funding to support the employment of a volunteer co-ordinator, payroll and HR are administered by Thurrock CVS on behalf of Aveley Hub Steering Group.

By Your Side - Home from Hospital: The aim of the project is to work with volunteers through a dedicated co-ordinator to support early discharge for patients that are vulnerable or unbefriend. The project works in partnership with VCFSE organisations to support individuals back into their community. The project started in January 2019.

Better Care: Funding held on behalf of the partnership to deliver communication and engagement for the integrated health and social care.

Contract income: Income received as part of contract delivery of projects.

Description, nature and purpose of unrestricted funds:

General funds: General fund represents funds available to spend at the discretion of the Trustees after allowing for all the designated funds.

Description, nature and purpose of designated funds:

Building Maintenance: The Designated Fund is a sinking fund for future major repairs and renewals to the Beehive which was established in 2011-12.

Redundancy fund: The redundancy fund has been created to ensure reserves are set aside for redundancy payments if the organisation operation or projects finishing.

Page 35

Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

MOVEMENT IN FUNDS-continued

Giving for Thurrock: Giving for Thurrock (GiFT) has been established to generate funds to help meet local priorities, especially health and wellbeing.

The aim of the project is to create new unrestricted funding opportunities across external funders and through the development of a suite of fundraising events. Also, to develop a portfolio of partners across communities and businesses to encourage further support and increase voluntary giving activity.

Healthwatch: Funding to ensure the voice of patients and service users shapes local Thurrock health service provision.

Food Network Coordinator: Funding to support the local food distribution system in reducing food poverty.

17. RELATED PARTY DISCLOSURE

No related party transactions took place in the year except the transactions disclosed in note 9.

18. DEFERRED INCOME

Balance as at 1st April
Amount released to income in the year
Amount deferred in the year
Balance as at 31st March		 2024
2023
£
£
153,681
402,310
(570,923)
(1,031,147)
558,382
782,518
141,140
**153,681 **

The deferred income represents:

Page 36

Thurrock CVS (Community and Voluntary Service) - Notes to the Financial Statements continued for the Year Ended 31 March 2024

19. PENSION COST

The charity operates a defined contribution pension scheme and also contributes to suitable personal pension schemes of employees. Contributions are charged to the Statement of Financial Activities in the period to which they relate. The charge for the year was £15,297 (2023 - £18,509). The charity had liability of pension contributions of £155 (2023 - £25 (advance contribution).

20. SHARE CAPITAL

The charity does not have a share capital and is limited by guarantee. In the event of the charity being wound up, the maximum amount, which each member is liable to contribute is £1.

21. CAPITAL COMMITMENTS

As at both yearend 31 March 2024 and 31 March 2023, the charity had no capital commitments.

22. CONDUIT FUNDS

The Charity administers grants on behalf of Thurrock Council and this activity is recognised in the accounts as conduit funds. The Charity administers the VSDF, Small Sparks grant on behalf of Thurrock Council. The beneficiaries of the grants were determined by a special committee set up by Thurrock Council. The Charity administers the ECC HAF Fund on behalf of Essex County Council. The movement in conduit funds during the year are as follows:

Voluntary Sector Development Fund
Small Grants
Small Sparks
Community 360 MSECVS Microgrants
ECC - HAF Funds
Total		 Balance at
Balance at
01.04.2023
Funds
received
Funds
disbursed
Transfers
31.03.2024
£
£
£
£
£
27,816
-
-
(27,816)
-
3,990
-
-
(3,990)
-
-
2,000
(2,000)
-
-
4,000
-
(3,465)
-
535
35,805
2,000
(5,465)
(31,805)
535

23. ULTIMATE CONTROLLING PARTY

The charity was under the control of Board of Trustees throughout the year.

Page 37