2021-03-31-accounts - The Fresh Visions People Limited

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The Fresh Visions People Limited Accounts for the year ended 31 March 2021

Registered Charity number: 1091627 Company number: 04155343

The Fresh Visions People Limited

Contents	Page
Trustees and Advisers	2
Trustees’ Report	3
Independent Auditor’s Report	12
Statement of Financial Activities
and Income and Expenditure Account	17
Balance Sheet	19
Statement of Cash Flows	20
Notes to the Accounts	21

The Fresh Visions People Limited

Reference and Administration details

The Fresh Visions People Limited (Fresh Visions) was registered as a Charity on 15 April 2002 (registered number 1091627). It is a company limited by guarantee (registered number 04155343).

Trustees and advisers at 31 March 2021

Trustees

Ralph Scott-Gordon Chair Nick Stephenson Alexandra West Rosa Napolitano – resigned 14 September 2020

Secretary Alison Wignall

Advisers

Bankers

Barclays Bank 1 Churchill Place Canary Wharf London E14 5HP

Auditors BDO LLP 2 City Place Gatwick RH6 0PA

Solicitors

Devonshires 30 Finsbury Circus London EC2M 7DT

Registered Office Grosvenor House 125 High Street Croydon CR0 9XP

The Fresh Visions People Limited

Trustees’ report

Objectives

Fresh Visions was incorporated on 7 February 2001 as a company limited by guarantee, and commenced trading during 2003.

The Charity’s mission is:

To support children, young people and vulnerable adults who face extreme disadvantage as a result of poverty, domestic abuse, lack of education and social exclusion.

Who we help

The Charity supports and empowers disadvantaged individuals and communities to maximize their potential, with a particular focus on working in neighbourhoods where Optivo operates.

We’re focussing support for:

Adult and Child victims of domestic abuse
Isolated, lonely or vulnerable young people, especially those leaving care
Young people needing help with life skills and getting into work
Adults facing loneliness and isolation
People facing risks from alcohol, drugs misuse or dangers from gang violence
Developing activities tailored and co-designed to the needs of local people and communities

Where we work

We focus on meeting local needs in Optivo communities in the South East and Midlands. Despite this being an economically vibrant and wealthy region, there are individuals and communities facing extreme disadvantage, poverty and social exclusion. We’re committed to making lasting, positive community change among some of the poorest neighbourhoods and communities in the UK.

What we do

We design and deliver local community projects based on strong local needs analysis. We co-design activities with and for people, listening closely to their needs. We invest in community interventions rather than provide monies or grants directly to people. We fundraise and seek charitable donations and sponsorship to support our work.

We’ve a track record and a level of expertise in:

Domestic abuse counselling
Confidence building and youth focused employment support
Helping people with jobs and enterprise
Young persons’ development

The Fresh Visions People Limited

Trustees’ report (continued)

Activities

We’ve engaged over 400 beneficiaries during 2020/21. Our main projects include:

Thrive Counselling service - for adult and child survivors of domestic abuse (Kent)
Motivate Health – Young persons’ health development and support (Sussex)
Neighbourhood Furniture Store – Furniture re-use for people in need (Kent)
Build Yourself (Sussex) – supporting disadvantaged young people to learn DIY skills, gain a CSCS card and improve their employability.

Our projects are funded from restricted grant funding and designated, unrestricted funds as set out in note 16 of the financial statements. Designated funds remain unrestricted and are available for use at the Trustees’ discretion.

Strategic report

Achievements:

We are proud of the impact we make. During 2020/21 we:

Engaged with over 400 beneficiaries
Supported 200 young people into employment and involved them in positive activities directing them away from risk and violence
Helped over 50 child survivors of domestic violence to rebuild their damaged young lives
Provided over 80 people with quality recycled furniture from our furniture store
Received positive feedback from 99% of participants who greatly valued the support we’ve given them
Secured £328k charity funds
Achieved £16k income towards our charitable activity from over 200 volunteers and fundraising events

We’re seeking to build on this work. We commit to working with the most vulnerable people who face the greatest challenges. We’re set to better cocreate opportunities for people to fulfil their potential and move on successfully from challenges they may face.

We’ve responded to the Covid pandemic and lockdown restrictions with an agile service offer. We’ve refocused our online support work for our beneficiaries. The impact of Covid 19 further agitates and re-emphasises the priority of the needs of our client groups; people facing poverty and exclusion with the pressures of health, wellbeing and worry of domestic abuse.

The Fresh Visions People Limited

Trustees’ report (continued)

During 2020/21 the Covid Pandemic impacted our beneficiaries triggering amplified support needs. It disrupted on-site face to face client activities. We switched successfully to alternative digital support service for clients combined with urgency on site activities only. We’ve faced delays in instigating some new support projects. The impact saw successful urgency period client support. We’re also underspent on delayed activities. These are re-profiled into 2021/22 as we look to fully mobilise both digital and face to face client support post lockdown.

We’re determined to reset our strategy for 2020/25. Transforming our work and charity endeavours to meet the challenges of the extraordinary times ahead.

Financial Review

The Charity raised income during the year of £528,197 (2020: £526,705). Income sources include BBC Children in Need, Hastings & Rother Clinical Commissioning Group, BSW, East Sussex County Council, Hastings Voluntary Action, Colyer Fergusson, Garfield Weston, Countryside.

We also secured individual fundraising donations and corporate charity sponsorship and we benefit from Gift Aid donations.

The Charity’s Neighbourhood Furniture Store project closed on 30 September 2020 and generated income of £11k in the year (of which £6.6k related to furniture sales as per note 4). It operated on a charitable social enterprise footing whereby gifts-in-kind of second-hand furniture were given to the Charity for re-sale in the Neighbourhood Furniture Store. There was also a gift aid scheme on this activity.

The Charity’s intent is to maximise the use of resources directly into vital community project delivery. The Charity is supported and hosted by Optivo. The only non-project costs are audit fees, bank charges and an administration charge from the parent (Optivo). Significant ‘in kind’ or pro-bono support is provided by Trustees and staff in support of governance, project management and fundraising endeavours.

Plans for Future Periods

During 2020/21, we secured £319,178 future grant funds to support our charitable projects. Fundraising also included corporate donations of £17,690 and individual supporters raised £13,345. We were also awarded £50,000 donation from Optivo to support additional alternative activities on the back of the sale of a local community venue.

Our plan is to pursue fundraising from grant funding bids, corporate sponsorship and individual fundraising by supporters.

The Trustees held a strategy planning day in January 2020 approving business plan priorities and the principles for a revised charity strategy for 2020/25. We

The Fresh Visions People Limited

Trustees’ report (continued)

reviewed this in June 2020 to ensure we’re developing and adopting the new phase strategy meeting the needs of our beneficiaries .

Building on current work, our priorities are to grow our community support programmes for young and vulnerable clients including domestic abuse counselling.

Our strategy will see us focus and grow on core areas of expertise.

We’ve faced a year of the Covid 19 Pandemic. We’ve adapted our approach in the way we’ve delivered our beneficiary support. . We’ve taken the opportunity to step-up and refine how we deliver activities and services over the past year and for the next phase. We’ve also reset and adjusted our response to the need for a revised online charity fundraising context.

We’re very grateful for the magnificent support provided by all our funders this year (see www.freshvisions.org.uk).

Reserves Policy

We’ve operated to our 2020/21 reserves policy, summarised below.

Fresh Visions unrestricted reserves are directly controlled by the Trustees. No external body has the right to control these reserves, other than those statutory bodies that have over-riding rights under specific legislative provisions.

Restricted reserves are to be used by the Charity in accordance with the conditions set by the donors of the funds. Should the Trustees believe these funds cannot be used in accordance with the conditions set, the donors should be approached to ascertain whether a variation of condition is permitted, or whether the funds should be returned to the donor(s).

Trustees can approve the designation of unrestricted funds for charitable projects, activities and or charity central running costs when funding support from external bodies is not sufficient.

Unrestricted or designated funds are anticipated to be spent within 3 to 5 years of the date of receipt.

The general approach is to prioritise the use of unrestricted charity reserves to sustain existing or instigate new project activities to the direct benefit of the charity’s target beneficiaries.

Where the charity holds sufficient unrestricted reserve funds, a suitable level of project(s) reserve contingency funds should be held to protect the charity from cost risks liabilities in respect of project closure or failure. The assessment of project(s) contingency requirements is undertaken on a project by project basis.

The assessments allowing for any agreements or support arrangements in place between Fresh Visions Charity subsidiary and Optivo as the parent company.

The Fresh Visions People Limited

Trustees’ report (continued)

We’ll agree an annual schedule of projects‘ contingency reserve funds held. See annex A below.

The Charity notes and considers closely the balance in holding adequate contingency reserves while ensuring maximum available funds apply to create maximum support, activities and opportunities for beneficiaries.

Annex A – Detail Projects contingency reserves funds

(To 31/3/21 or further review or project(s) completion).

1) Neighbourhood Furniture Store - Project contingency reserve funds held >£35,000

Project contingency funds to cover project close down operational deficit costs. These based on 3 months closedown operational costs including staff salaries and premises rent. On project completion, any remaining unspent reserves to be re-designated to support other activities.

2) Thrive Domestic Abuse Counselling – Ensuring dedicated reserves up to £100,000.

The project contingency arrangements are to allow for project closure while ensuring casework support completes for abuse survivors in our current caseload. Calculated on the basis it takes 6 months support and wind-down for our client group. Costs to cover staff salaries and client support (82 clients) equate to c£100,000. Our project management team will ensure a dedicated reserves closure trigger point when this minimum resources level is reached. i.e. we do not take on new clients from the trigger point until further project resources are secured. The next project review point will be 31 March 2022.

Structure, Governance and Management

The parent company, Optivo, is a registered society under the Cooperative and Community Benefit Society Act 2014, registered no. 7561. It is responsible for the strategic planning and direction of the Group and ensuring corporate services such as IT, finance, personnel and development meet members’ needs.

The Trustees are shown on page 2. All Trustees served throughout the year. The articles of association allow for at least one of the total number of Trustees to be elected by the parent.

The Fresh Visions People Limited’s governing document is the memorandum and articles of association. Other administrative and legal information is set out on page 2.

Risk Management

The Trustees make use of Optivo’s Procurement Appraisal Group (PAG) to help in identifying and mitigating risks for the Charity. PAG is a multi-disciplinary

The Fresh Visions People Limited

Trustees’ report (continued)

group ensuring group entities approach risk in a consistent and relevant manner, whilst recognising the particular needs of each individual company within the group. Through PAG, the Trustees examine major strategic and operational business risks faced by the Charity and can confirm systems and controls are in place to identify, minimise and mitigate risk.

Public Benefit disclosures

During the year ended 31 March 2021, Fresh Visions continued to undertake activities which meet its objectives, relating to those activities it considers necessary to address social exclusion. Further details of these activities are provided within the Objectives and Activities section of the Trustees’ report.

The Trustees have complied with the requirement to have due regard to the guidance issued by the Charity Commission in England & Wales in relation to public benefit under section 4 of the Charities Act 2011.

Trustees

Trustees are selected based on the skills they can bring to the Charity and their interest in and support of the Charity’s aims and objectives. New Trustees take part in an induction programme to familiarise themselves with the history of the Charity, with their responsibilities as Trustees, and with issues facing the Charity at the time of their appointment.

Relationship with the parent company (Optivo)

The work of Fresh Visions is seen as a natural addition to the work of the other group members of Optivo. Fresh Visions is involved in areas of personal development and practical assistance for Optivo residents.

The parent provides support for Fresh Visions through its central services such as IT, finance and governance activities.

Payment of creditors

Creditors are paid within our credit terms of 30 days.

Fundraising

The charity adopts a Fundraising Plan which includes a programme of charity promotion and fundraising events run by volunteer fundraisers. Progress reports are monitored and reviewed at quarterly Board meetings and in monthly reviews between the Charity Manager and fundraising volunteers.

Our current annual target is to secure £280k with an approach primarily focused on foundation charity sector grant funding bids to support projects. This accounts for the majority of fundraising with additional new multi-year grants secured in year.

The Fresh Visions People Limited

Trustees’ report (continued)

We rely on volunteer fundraising efforts without the charity retaining a paid fundraiser or commissioned fundraising agency. We receive some pro-bono support for fundraising bids and events from Optivo staff.In planning fundraising activities and events, we issue pre-agreed guidance and project briefings to volunteer fundraisers. These reflect Charity Commission advice and include advice on using fundraising sites/tools like Just Giving. Fresh Visions operates within Optivo’s customer service and complaints framework. We received no formal complaints about fundraising in the last year.

Over the past year, we’ve fundraised via pre-planned and targeted online activities and campaigns like crowdfunding, Halloween fancy dress and Easter text campaigns . We are not currently making direct appeals to the general public and hold an active register of donors and supporters.

We support vulnerable beneficiaries through our mission. The nature of our fundraising avoids any issues of unreasonable intrusion on a person’s privacy, unreasonably persistent approaches or undue pressure to give.

Trustees’ responsibilities

The Trustees are responsible for preparing the Annual Report and the financial statements in accordance with the applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.

In preparing these financial statements, the Trustees are required to:

Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent;
State whether applicable UK accounting standards have been followed subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that show and explain the charity’s transactions, disclose with reasonable accuracy

at any time the financial position of the charity, and enable them to ensure that the financial statements comply with the Companies Act 2006.

They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Fresh Visions People Limited

Trustees’ report (continued)

Going Concern

After reviewing the Charity’s budget for 2021/22 and cash forecasts for 12 months from the date of signing, the Trustees have a reasonable expectation the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the Charity’s financial statements.

In making this assessment the Trustees have made an assessment of the potential impact of the Covid-19 pandemic on the cashflows of the charity over the next 12 month period. The Trustees have considered the impact of additional downside scenarios with potential reduced income.

In making their assessment the Trustees have also considered the potential mitigations available to manage the potential impact on its cashflows and liquidity. Moreover, activities planned for 2021/22 and 2022/23 are funded from existing reserves and do not require external funding.

The Trustees have concluded that whilst the potential impact of the Covid-19 pandemic presents current uncertainty, having assessed our plans, liquidity levels and mitigating actions available there is reasonable expectation that the Charity has adequate resources to continue in operational existence for the next 12 months. For these reasons, they continue to adopt a going concern basis for the preparation of the Financial Statements. Accordingly, these financial statements do not include any adjustments to the carrying amount or classification of assets and liabilities that would result if the Charity was unable to continue as a going concern.

Disclosure of information to auditors

The Trustees who held office at the date of approval of this Trustees’ report confirm, so far as they are each aware, there is no relevant audit information of which the Charity’s auditors are unaware; and each Trustee has taken all the steps he/ she ought to have taken as a trustee to make himself or herself aware of any relevant audit information and to establish the Charity’s auditors are aware of the information.

Auditors

A Resolution to re-appoint BDO LLP as auditors will be proposed at Optivo’s Annual General Meeting on 22 September 2021.

Advantage has been taken of the small companies’ exemption.

The Fresh Visions People Limited

Trustees’ report (continued)

Signed on behalf of the Trustees on 10 June 2021.

Ralph Scott-Gordon Chair of Trustees

The Fresh Visions People Limited

INDEPENDENT AUDITOR’S REPORT TO MEMBERS OF FRESH VISIONS PEOPLE LIMITED

Opinion on the financial statements

In our opinion, the financial statements:

give a true and fair view of the state of the Charitable Company’s affairs as at 31 March 2021 and of its incoming resources and application of resources for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.

We have audited the financial statements of The Fresh Visions People Limited (“the Charitable Company”) for the year ended 31 March 2021, which comprise the Statement of Financial Activities and Income and Expenditure Account, the Balance Sheet, the Statement of Cash Flows 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charitable Company in accordance with the ethical requirements 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 related 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 Trustees with respect to going concern are described in the relevant sections of this report.

The Fresh Visions People Limited

INDEPENDENT AUDITOR’S REPORT TO MEMBERS OF FRESH VISIONS PEOPLE LIMITED (CONTINUED)

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustee’s Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Other Companies Act 2006 reporting

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

the information given in the Trustees’ Report, which includes the Strategic Report prepared for the purposes of Company Law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report, which is included in the Trustees’ Report, has been prepared in accordance with applicable legal requirements.

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 misstatement in the Strategic report or the Trustee’s report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion;

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of Directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report .

The Fresh Visions People Limited

INDEPENDENT AUDITOR’S REPORT TO MEMBERS OF FRESH VISIONS PEOPLE LIMITED (CONTINUED)

Responsibilities of Trustees

As explained more fully in the 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 determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section section 144 of the Charities Act 2011 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

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.

Extent to which the audit was capable of detecting irregularities, including fraud

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 fraud is detailed below.

Based on our understanding of the Charitable Company and the industry in which it operates, we identified that the principal laws and regulations that directly affect the financial statements to be the Charities Act, UK Companies Act and relevant tax legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

The Fresh Visions People Limited

INDEPENDENT AUDITOR’S REPORT TO MEMBERS OF FRESH VISIONS PEOPLE LIMITED (CONTINUED)

In addition the Charitable Company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: Employment Law, Fundraising Regulations, Health & Safety Legislation and Data Protection. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence if any.

There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

Audit procedures capable of detecting irregularities including fraud performed by the engagement team included:

Performing analytical procedures to identify unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. Areas of identified risk are then tested substantively;
Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
Reading minutes of meetings of those charged with governance, reviewing internal audit reports and reviewing correspondence with HMRC and the Regulator to identify any actual or potential frauds or any potential weaknesses in internal control which could result in fraud susceptibility;
Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
Reviewing items included in the fraud register as well as the results of internal audit’s investigation into these matters;
Challenging assumptions made by management in their significant accounting estimates;
Carrying out detailed testing, on a sample basis, of transactions and balances agreeing to appropriate documentary evidence to verify the completeness, existence and accuracy of the reported financial statements; and
In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments.

The Fresh Visions People Limited

INDEPENDENT AUDITOR’S REPORT TO MEMBERS OF FRESH VISIONS PEOPLE LIMITED (CONTINUED)

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the Charitable Company’s trustees, as a body, in accordance with the Charities Act 2011. Our audit work has been undertaken so that we might state to the Charitable Company’s members and 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, the Charitable Company’s members as a body and the Charitable Company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Elizabeth Kulczycki (Senior Statutory Auditor) For and on behalf of BDO LLP, statutory auditor Gatwick Date 26 July 2021

BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).

The Fresh Visions People Limited

Statement of Financial Activities and Income and Expenditure Account for the year ended 31 March 2021

Income and Expenditure Note Income from: Income Donations and legacies 3 Charitable activities 4 Investments 5 Other Total Expenditure on: Raising funds 6 Charitable activities 6 Other expenditure 6 Total Net income / (expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward 14 Total funds carried forward 14	Unrestricted funds Subtotal Restricted Total Total General Designated Unrestricted funds funds funds Year ended Year ended Year ended Year ended Year ended Year ended 31 March 2021 31 March 2021 31 March 2021 31 March 2021 31 March 2021 31 March 2020 £ £ £ £ £ £ 311,035 9,356 320,391 195,592 515,983 415,873 - 7,157 7,157 - 7,157 91,414 2,957 - 2,957 - 2,957 2,823 - 2,100 2,100 - 2,100 5,220
	313,992 18,613 332,605 195,592 528,197 515,330 3,749 - 3,749 - 3,749 5,172 - 161,249 161,249 174,620 335,869 451,771 3,529 - 3,529 - 3,529 2,361
	7,278 161,249 168,527 174,620 343,147 459,304
	306,714 (142,636) 164,078 20,972 185,050 56,026 (241,500) 241,500 - - - -
	65,214 98,864 164,078 20,972 185,050 56,026 41,226 519,113 560,339 25,423 585,762 529,736
	106,440 617,977 724,417 46,395 770,812 585,762

All Fresh Visions People Limited’s activities, with the exception of the Neighbourhood Furniture Store, are continuing. There are no recognised surpluses or deficits other than those above and therefore no separate statement of recognised surpluses and deficits has been presented.

The notes on pages 21 to 31 form part of these accounts.

The Fresh Visions People Limited

Statement of Financial Activities and Income and Expenditure Account for the year ended 31 March 2020

Income and Expenditure Note Income from: Income Donations and legacies 3 Charitable activities 4 Investments 5 Other Total Expenditure on: Raising funds 6 Charitable activities 6 Other expenditure 6 Total Net income / (expenditure) Transfers between funds Net movement in funds Reconciliation of funds: Total funds brought forward 14 Total funds carried forward 14	Unrestricted funds Subtotal Restricted Total Total General Designated Unrestricted funds funds funds Year ended Year ended Year ended Year ended Year ended Year ended 31 March 2020 31 March 2020 31 March 2020 31 March 2020 31 March 2020 31 March 2019 £ £ £ £ £ £ 221,595 18,032 229,627 176,246 415,873 432,483 - 91,414 91,414 - 91,414 77,167 2,823 - 2,823 - 2,823 2,832 - 5,220 5,220 - 5,220 3,920
	224,418 114,666 339,084 176,246 515,330 516,402 5,125 47 5,172 - 5,172 8,048 3,000 255,596 258,596 193,175 451,771 362,616 2,361 - 2,361 - 2,361 1,931
	10,486 255,643 266,129 193,175 459,304 372,595
	213,932 (140,977) 72,955 (16,929) 56,026 143,807 (184,747) 184,747 - - - -
	29,185 43,770 72,955 (16,929) 56,026 143,807 12,041 475,343 487,384 42,352 529,736 385,929
	41,226 519,113 560,339 25,423 585,762 529,736

All Fresh Visions People Limited’s activities are continuing. There are no recognised surpluses or deficits other than those above and therefore no separate statement of recognised surpluses and deficits has been presented. The notes on pages 21 to 31 form part of these accounts.

The Fresh Visions People Limited

Balance sheet at 31 March 2021

Note Tangible Fixed Assets 10 Current Assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net Current Assets Total Net Assets The funds of the charity: Unrestricted Funds – General 14 Unrestricted Funds – Designated 15 Restricted Funds 16 Total Funds	2021 £ - 774,193 - 774,193 (3,381) 770,812 770,812 106,440 617,977 724,417 46,395 770,812	2020 £ - 597,816 -
		597,816 (12,054)
		585,762
		585,762
		41,226 519,113
		560,339 25,423
		585,762

The financial statements on pages 17 to 31 were approved and authorised by the Trustees and signed on 10 June 2021 on its behalf by:

Ralph Scott-Gordon Chair of Trustees

Alison Wignall Secretary

Registered Charity number: 1091627 Company number: 04155343

The Fresh Visions People Limited

Statement of Cash Flows for the year ended 31 March 2021

Notes Cash flows from operating activities Surplus for the financial year Adjustments for: Interest received 5 (Increase) in trade and other debtors 11 (Decrease) / increase in trade creditors 12 Net cash used in operating activities Cash flow from investing activities Interest received 5 Net cash from investing activities Net (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2021 £ 185,050 (2,957) (176,377) (8,673) (2,957) 2,957 2,957 - - -	2020 £ 56,026 (2,823) (67,859) 9,368
		(5,288)
		2,823
		2,823
		(2,465) 2,465
		-

The notes on page 21 to 31 form part of these financial statements.

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021

1 Principal Accounting Policies

The Fresh Visions People Limited is a private company, limited by guarantee and incorporated in the UK. Company number 04155343. It is also a registered charity, number 1091627.

The financial statements have been prepared in accordance with applicable Accounting Standards, the Companies Act 2006, the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland (FRS102) and the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP 2015).

The following accounting policies have been applied consistently in relation to the financial statements:

Basis of Accounting

The financial statements have been prepared under the historical cost convention.

Going Concern

In making their assessment the Trustees have also considered the potential mitigations available to manage the potential impact on its cashflows and liquidity. The potential mitigation for the charity includes reduced expenditure as project delivery is adapted to social distancing. Moreover, activities planned for 2021/22 and 2022/23 are funded from existing reserves and secured external funding.

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021 (continued)

Income

Income is recognised when there is entitlement, sufficient probability of receipt and it can be reliably measured. Income represents charitable donations from Trusts, Companies, Governmental bodies and Individuals and receivable income generated by charitable activities.

During the year the Charity received gifts in the form of furniture to be sold at its “Neighbourhood Furniture Store”. The value of these items to the Charity is only identifiable at the point of sale, when an offer is made by a potential purchaser of the items and accepted by the Charity. Assets donated for re-sale do not have an economic value recognised prior to the point of sale and are not shown at fair value as the costs to attribute a reliable value would out weight the benefits of doing so. Accordingly, the economic value of the item as a gift in kind is only recognised in the financial statements at the time of its disposal. The value of the sale is recognised as charitable income.

Leases

Rentals under operating leases are charged on a straight line basis over the lease term.

Corporation Tax and Deferred Taxation

The Charity is not liable for Corporation Tax on its charitable activities.

Value Added Tax

The Group is partially exempt from VAT. Expenditure is shown gross and the VAT recovered is included in sundry income.

Reserves

Restricted Designated General (Free) TOTAL	31 March 2021 £ 46,395 617,977 106,440 770,812	31 March 2020 £ 25,423 519,113 41,226
		585,762

At 31 March 2021 total reserves were £770,812 (2020: £585,762) and of this £617,977 (2020: £519,113) relates to designated reserves. The designated reserves are held to fund specific active projects, as are the restricted reserves of £46,395.

The general fund is retained to cover general risks and unforeseen circumstances. The Trustees believe the year end general reserve balance of £106,440 is adequate to meet this requirement given the level of general funds designated to specific projects.

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021 (continued)

Categorisation of costs

Charitable expenditure represents grants payable and costs of activities in furtherance of the Charity’s objectives. Fundraising costs represent the direct costs of fundraising. Other expenditure represents the costs associated with Trustees’ meetings, legal advice, internal and external audits and general governance matters. Support costs represent charges for financial, IT, other administrative support services from the parent company and other costs that cannot be directly attributed to the categories above. These costs are allocated within the financial statements to direct charitable expenditure, fundraising costs, and other expenditure based on the levels of total expenditure in each of these prime categories.

2 Net income

	2021	2020
Net income for the year is stated after charging:	£	£
Lease payments	14,856	27,100

3 Donations and legacy income during the year ended 31 March 2021

Grant income Gift aid Donations	2021 Unrestricted £ 9,000 241,821 69,570 320,391	2021 Restricted £ 195,592 - - 195,592	2021 Total £ 204,592 241,821 69,570 515,983	2020 Total £ 183,746 199,557 32,570 415,873

4 Income from charitable activities during the year ended 31 March 2021

Furniture sales Scrap metal sales Other	2021 £ 6,620 - 537 7,157	2020 £ 84,367 552 6,495
		91,414

Included in other is income relating to removals, parking space and sundries.

5 Investment income

Bank interest received	2021 £ 2,957	2020 £ 2,823

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021 (continued)

6 Expenditure during the year ended 31 March 2021

Expenditure on: Raising funds Charitable activities: Neighbourhood Furniture Store Thrive Counselling Thrive Counselling – Child Counsellor Build Yourself Motivate Health Fundraising Support Motivate Sussex Other expenditure	Direct staff costs £ - 21,862 142,835 31,652 26,596 67,672 1,166 - 291,783 - 291,783	Direct other costs £ - 26,487 5,755 1,161 4,684 5,999 - - 44,086 - 44,086	Support costs £ 3,749 - - - - - - - - 3,529 7,278	Total 2021 £ 3,749 48,349 148,590 32,813 31,280 73,671 1,166 - 335,869 3,529 343,147	Total 2020 £ 5,172 116,934 112,776 99,647 28,370 72,553 21,038 453
					451,771 2,361
					459,304

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021 (continued)

7 Other expenditure

Auditors' remuneration Other services	2021 £ 1,800 1,729 3,529	2020 £ 1,800 561
		2,361

8 Trustees’ emoluments and expenses

The Trustees, who are also Directors for Companies Act purposes, received no remuneration during the year to 31 March 2021 (2020: £nil). Any expenses reimbursed are borne by the parent. There were no expenses (2020: £354) paid to any Trustees in the year in respect of the performance of their duties as Trustee.

9 Employee information

No employees are directly employed by Fresh Visions. The following charges have been made by Optivo based on the time spent by each of its employees on the activities of Fresh Visions.

Direct staff costs recharge	2021 £ 291,783	2020 £ 347,492

10 Fixed Assets

Cost At 1 April 2020 Disposals during the year At 31 March 2021 Depreciation At 1 April 2020 Disposals during the year At 31 March 2021 Net Book Value at 31 March 2021 Net Book Value at 31 March 2020	Furniture & Fittings £ 5,990 (5,990)
	- (5,990) 5,990 - - -

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021 (continued)

11 Debtors 2021 £ Trade debtors 7,500 Deposit paid in respect of lease on furniture store - Amounts owed by parent undertaking 756,365 Other debtors 10,328 774,193 12 Creditors: amounts due within one year 2021 £ Other creditors and accruals 3,381 Amounts owed to parent undertaking - 3,381 13 Analysis of net assets by fund Restricted Unrestricted Total fund fund 2021 2021 2021 £ £ £ Current assets Debtors 46,395 727,798 774,193 Cash at bank and in hand - - - 46,395 727,798 774,193 Creditors: amounts falling due within one year - (3,381) (3,381) Net current assets 46,395 724,417 770,812 Net assets 46,395 724,417 770,812			2020 £ 9,625 10,898 553,323 23,970 597,816 2020 £ 8,153 3,901 12,054 Total 2020 £ 597,816 -



			597,816 (12,054)
			585,762
			585,762

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021 (continued)

13 Analysis of net assets by fund (continued)

Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Net assets	Restricted fund 2020 £ 25,423 - 25,423 - 25,423 25,423	Unrestricted fund 2020 £ 572,393 - 572,393 (12,054) 560,339 560,339	Total 2020 £ 597,816 - 597,816 (12,054) 585,762 585,762	Total 2019 £ Restated
				529,957 2,465
				532,422 (2,686)
				529,736
				529,736

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021 (continued)

14 Analysis of funds

Unrestricted - General Fund Unrestricted - Designated Funds Restricted Funds	Balance at 1 April 2020 £ 41,226 519,113 25,423 585,762	Income £ 313,992 18,613 195,592 528,197	Expenditure £ (7,278) (161,249) (174,620) (343,147)	Transfer £ (241,500) 241,500 - -	Balance at 31 March 2021 £ 106,440 617,977 46,395
					770,812

15 Analysis of designated funds

Neighbourhood Furniture Store Build Yourself Thrive Counselling Motivate Health Motivate South London Fundraising Support Older Vulnerable Residents Fund Hardship Fund	Balance at 1 April 2020 £ 41,165 137,407 133,573 80,566 95,000 31,402 - - 519,113	Income £ 11,113 7,500 - - - - - - 18,613	Expenditure £ (48,348) (31,281) (52,911) (27,543) - (1,166) - - (161,249)	Transfer £ - - 80,000 81,500 - - 40,000 40,000 241,500	Balance at 31 March 2021 £ 3,930 113,626 160,662 134,523 95,000 30,236 40,000 40,000
					617,977

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021 (continued)

15 Analysis of designated funds (continued)

A description of the designated funds and the reasons for holding these funds is set out in the Trustees’ report. All designated funds are unrestricted and available for use at the discretion of the Trustees. The designated funds have been created to allow for planning and budgetary control of certain projects undertaken by the charity. Some of the projects also have restricted funds attributable and these are set out in note 16.

16 Analysis of restricted funds

Thrive Counselling – Children in Need Thrive – Police Crime Commissioner Thrive Counselling - Countryside Thrive Counselling – Colyer Fergusson Thrive Counselling – Garfield Weston Motivate Health Total	Balance at 1 April 2020 £ - - - - - 25,423 25,423	Income £ 30,908 91,200 5,000 15,000 25,000 28,484 195,592	Expenditure £ (30,908) (91,200) (820) (5,564) - (46,128) (174,620)	Transfer £ - - - - - - -	Balance at 31 March 2021 £ - - 4,180 9,436 25,000 7,779
					46,395

A description of the restricted funds and the reasons for holding these funds is set out in the Trustees report.

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021 (continued)

17 Financial commitments

At 31 March 2021 the Charity had no commitments under non-cancellable operating leases:

Property (Neighbourhood Furniture Store Warehouse) Leases expiring within one year	2021 £ - -	2020 £ 2,658
		2,658

The Charity ended the lease for its Neighbourhood Furniture Store warehouse on 30 October 2020.

18 Related parties

The Company is a wholly owned subsidiary of Optivo.

Optivo provides central management services to the Charity relating to finance, technology, human resources and governance costs.

During the year the Charity provided removal services and furniture and equipment to Optivo. Previous years included parking.

The amounts charged and received are as follows:

he amounts charged and received are as follows:
	2021	2020
	£	£
Central management service costs	3,000	3,000
Removal services and furniture & equipment	(465)	(4,380)
Parking space rental	-	(475)

The direct staff costs recharge is explained in note 9. There are no amounts due at year end in respect of related party transactions. All transactions relate to Optivo. No other related party transactions have been identified.

19 Legislative provision

The Charity is limited by guarantee, and therefore has no share capital.

20 Ultimate parent undertaking

Fresh Visions is a subsidiary of Optivo which is the ultimate parent company incorporated in the UK and registered in England as a Co-operative and Community Benefit Society (No. 7561). Optivo is the ultimate parent undertaking by virtue of holding all shares in the company.

The Fresh Visions People Limited

Notes to the Accounts for the year ended 31 March 2021 (continued)

The largest and smallest group in which the results of Fresh Visions are consolidated is that headed by Optivo, incorporated in England. The consolidated accounts of Optivo are available to the public and may be obtained from Grosvenor House, 125 High Street, Croydon, Surrey CR0 9XP. No other group accounts include the results of Fresh Visions.