2021-03-31-accounts

Charity Registration No. 1094112 Company Registration No. 04509224 (England and Wales)

MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	AMAdamson
	A Buck
	JM Daniels
	M Fowler
	N J Harkin
	M R O'Rourke
	N Sayer
Charity number	1094112
Company number	04509224
Registered office	St Marys Centre
	82-90, Corporation Road
	Middlesbrough
	United Kingdom
	TS1 2RW
Auditor	AzetsAudit Services
	New Garth House
	Upper Garth Gardens
	Guisborough
	United Kingdom
	TS14 6HA
Bankers	Yorkshire Bank Plc
	7 Linthorpe Road
	Middlesbrough
	United Kingdom
	TS1 1RF
ChiefExecutive	MDavis

MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) CONTENTS

	Page
Trustees’ report	1-5
Statement oftrustees’ responsibilities	6
Independent auditor's report	7-10
Statement of financial activities	11
Balance sheet	412
Notestothefinancialstatements	13-29

MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021 a

The trustees present their report and accounts for the year ended 31 March 2021.

Legal status and governing document The organisation is a charitable company limited by guarantee incorporated on 12 August 2002. The company was established under a Memorandum and Articles of Association last amended on 10 March 2016.

Recruitment and appointment of trustees The charity shall have a minimum of five and a maximum of fourteen trustees compromising of seven elected members of the charity and a maximum of seven appointed by the directors.

Trustee induction and training

New trustees are provided with information on their legal obligations under charity regulations and company law. They receive a copy of the Memorandum and Articles of Association, most recent accounts and current business plan, and are briefed as to work in progress and funding sources. Trustees are encouraged to attend appropriate external training events that will facilitate the undertaking of their role and occasional development opportunities in-house with staff or around particular areas of work.

Risk management

The trustees assess the major risks to which the charity is exposed, including both the operations and finances of the charity, and are satisfied that there are sufficient systems to mitigate exposure to significant risks. A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees.

Organisational structure The Trustee Board meets at least four times per year. The Finance and General Purposes Committee also meets at least four times per year. A Chief Executive Officer (CEO) is appointed to manage the operations of the charity. The CEO has delegated authority for operational matters, including finance, employment and service development and delivery.

Related parties The charity works closely with Middlesbrough Council, which grants essential core funding to support the provision of infrastructure services for the local voluntary and community sector.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Fundraising

The charity does not carry out any significant funding activities.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Objectives and activities

The organisation's objects and principal activities are to promote any charitable purposes for the benefit of the community throughout the local government area of Middlesbrough and beyond in such way as the Trustees shall from time to time decide (“the area of benefit”) and, in particular the advancement of education, the protection of health and the relief of poverty, distress and sickness. In addition, it aims to promote and organise co-operation in the achievement of the above purposes and to that end to bring together in council representatives of the voluntary organisations and statutory authorities within the area of benefit.

In line with these objectives, MVDA’s mission is to support an effective and enterprising voluntary and community sector (VCS) that makes a difference to the lives of Middlesbrough people and to their communities.

The trustees have paid due regard to the Charity Commission’s guidance on public benefit in planning and reviewing activities, which were as follows:

• Practical support for voluntary and community organisations (VCOs), including one-to-one support, information and training.

• A volunteer centre that promotes volunteering, matches people and appropriate volunteering opportunities and promotes good practice in volunteer management.

• • Enabling VCOs to work together through meetings and events that support networking and coilaboration and inform engagement at a strategic level.
• • Advocacy for the VCS through local planning forms and liaison with key public bodies, particularly Middlesbrough Council.

• Promotion of good practice in meeting the needs of all Middlesbrough’s people.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

• As was common for most charities, our priorities and work during the year was influenced by the Covid-19 pandemic. In the early stages of the pandemic, we changed the way we work to ensure maximum flexibility — both in the way our people approached their work, but also in the way we responded to local need to continue delivering our charitable objects in meeting the needs of local people and communities. We maintained a strong focus on supporting voluntary and community action. Specifically, during the year, we: « Maintained a wide range of development and support services for local voluntary and community organisations (VCOs). Funding advice, governance support and the establishment of new organisations were key areas of activity.

• Produced a range of funding information materials — both specific to the Covid-19 response and general services. We also facilitated regular dialogue with funders as well as contributed to the regional funders network working with other local infrastructure organisations.

• Established # BoroResponse as a mechanism to promote what the local VCS was doing to support local people and communities in the context of the pandemic. # BoroResponse was central to a lot of our communications activity during this period.

• Created and publicised several guides to support people and organisations in promoting good practice around volunteering as part of the pandemic response.

• ¢ Facilitated regular meetings of volunteer co-ordinators, providing practical support and facilitate peer support for organisations.

• Developed stronger links between local infrastructure organisations across Tees Valley, building on our established partnership arrangements. This meant we were collectively able to respond to issues and opportunities on behalf of the VCS at city region level.

• ¢« Continued to deliver our work on behalf of Step Forward Tees Valley — the Building Better Opportunities programme — and we were particularly pleased that we continued to exceed our targets in many areas.

• Established the new one-year Boro Active Explorers project with two local organisations to support families in Thorntree & Brambles and North Ormesby to engage with the local environment, increasing physical activity and improving mental health. Learning from this project has directly influenced additional projects that we are involved with.

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• MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021 eee ee + Jointly managed the Your Active Living Fund (YALF) with RCVDA. YALF was a smail grants fund as part of You’ve Got This — the Sport England Local Delivery Partnership for South Tees. As part of this work, we provided dedicated development support for applicant organisations and developed appropriate decision-making processes involving a range of stakeholders.

• • Contributed significantly to Middlesbrough Council's grant-making activity, both Covid-19 specific funds and general community funds.
• • Developed the We Care You Care project which is now well established as an impartial resource to provide information to local carers, working jointly with VCOs and others on campaigns, e.g. Carers Week and Carers Rights Day, and supporting the establishment of the new South Tees Carers Forum. Through We Care You Care we also arranged a campaign at Christmas, giving presents to children in kinship care.

• Co-ordinated a range of opportunities for local VCOs (and others where appropriate) to network and work together. This included established partnership forums and one-off networking events.

• • Contributed to the local response around Covid-19, working with Middlesbrough Council and others. We also contributed at a regional and national level via the VCS Emergencies Partnership, supported by a small grant via NAVCA.
• • Maintained our role in representing VCS interests in a range of forums, particular with a focus on: health and wellbeing; children, young people and families services; and community development/ resilience.

• Worked with Catalyst Stockton-on-Tees and Tees Valley CCG to initiate a new project to explore barriers and issues with Annual Health Checks for people with learning disabilities from BME communities.

A particular highlight during the year was our work to distribute goods and resources to local VCOs that would otherwise have gone to landfill. Through this work we have tested an approach of establishing links and relationships with businesses and others and arranging for goods such as office furniture; significant volumes of PPE (face masks, hand gel etc); lightbulbs and more to be distributed for community benefit across Middlesbrough and the wider Tees Valley. We also established an ongoing relationship with Morrisons, whereby we received various products on a weekly basis that we then distributed. During 2020/21 we estimate the value of these goods to be in the region of c.£161,000 which has been included within unrestricted income.

Throughout the year, we ensured that we continued to adapt and respond to our operating environment so that we could continue to deliver our services, despite issues and challenges that we faced as an organisation. We had previously invested in our ICT infrastructure to ensure we were able to work flexibly and appropriately to deliver our charitable objectives, which has served us well during the pandemic.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2021

Financial review .

The charity received income for the year totalling £477,535 (2020: £371,573) with resources expended being £664,597 (2020: £742,316). The decrease in expenditure this year in comparison to the previous year is largely associated with the additional programmes for which MVDA was the lead agency working collaboratively with a range of other local organisations in the prior year.

The charity continues to receive a core grant from Middlesbrough Council in recognition of our role as the local support and development organisation in Middlesbrough.

Unrestricted reserves at year-end totalled £425,886 (2020: £471,633) of which £312,933 (2020: £358,295) is free reserves. Our reserves policy has a formula to determine the target level of reserves to be held by the organisation, which is equivalent to six months running costs as well as consideration of organisational development priorities. A full review of the reserves policy will be undertaken in the next accounting period.

Financial dependency

The charity in order to meet its objectives; is financially dependent on grants from the Local Authorities, government programmes and charitable trusts.

Additional funds are derived from smaller grants and charitable donations made by a variety of organisations and individuals.

Plans for future periods

Prior to the pandemic, we were undertaking some work to consider what MVDA’s long-term strategic priorities might be. We will revisit this work soon to shape our longer-term plans and in influencing our next strategic plan, development priorities and securing funding to support our work. This will include consideration of our collaborative work with a network of partner organisations.

We will build on our early engagement work to develop proposals around the future of volunteering in Middlesbrough over the next decade, with a stronger focus on the volunteer experience and joining up opportunities where possible. We anticipate this will include a focus on new volunteering projects.

We are particularly excited to take forward several programmes of work with a focus on increasing collaboration and supporting change at a local level through initiatives such as LocalMotion (a multi-funder initiative to support systems change in six places across England and Wales on issues that matter to local people, one of which is Middlesbrough) and Changing Futures (a government funded systems change initiative focused on people experiencing multiple disadvantage).

A key priority over the next 12 months will be to seek to agree new models/arrangements to support VCS representation and networking, including where MVDA and others represent VCS interests in partnership forums and re-creating spaces for local VCOs and others to take forward issues of shared interest ina collective and collaborative way.

We will build on our previous work to build better relationships with funders for the benefit of Middlesbrough.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2021

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Structure, governance and management

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

AM Adamson

A Buck

J M Daniels

M Fowler

N J Harkin

M R O'Rourke

N Sayer

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees’ report was approved by the Board of Trustees.

A Buck Trustee e . Bede

Dated: 30 March 2022

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2021

The trustees, who are also the directors of Middlesbrough Voluntary Development Agency for the purpose 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 trustees to prepare financial statements for each financial year which 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 charitable company for that year.

In preparing these financial statements, the trustees 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 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 operation.

The trustees are responsible for keeping adequate accounting records that 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.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY Neen ne ee eee eee ss nnn, eee

Opinion

We have audited the financial statements of Middlesbrough Voluntary Development Agency (the ‘charity’) for the year ended 31 March 2021 which comprise the statement of financial activities, the balance sheet and the 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).

• 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.

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 charity 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 charity'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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 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.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records; or

• • we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity'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 145 of the Charities Act 2011 and report in accordance with the Act 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.

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

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY onen nnn. eee Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with !aws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

• • Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
• • Reviewing minutes of meetings of those charged with governance; » Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
• • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
• • Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors’ 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

fads Audit Seis Graham Fitzgerald BA FCA DChA (Senior Statutory Auditor) Sol 37027 for and on behalf of Azets Audit Services csoenstnniesseineseees Statutory Auditor New Garth House Upper Garth Gardens Guisborough United Kingdom TS14 6HA

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) — INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY

Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2021

=	=	=	=	=	=	=	=
						As restated
	Unrestricted		Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2021	2021	2021	2020	2020	2020
	Notes	£	£	£	£	£	£
Income and endowments from: Donationsand legacies 3		191,691	-	191,691	250	-	250
Income from charitable
activities Investments	4 5	79,614 2,609	125,900 -	205,514 2,609	79,614 4,533	287,176 -	366,790 4,533
Other income	6	77,721	-	77,721	-	-	-
Total income		351,635	125,900	477,535	84,397	287,176	371,573
Expenditure on:
Expenditure on charitable activities	7	397,382	267,215	664,597	18,572	723,744	742,316
Gross transfers
between funds		-	-	-	-	-	-
Netmovement infunds		(45,747)	(141,315)	(187,062)	65,825	(436,568)	(370,743)
Fund balances at 1
April2020		471,633	250,736	722,369	405,808	687,304	1,093,112
Fund balances at 31
March2021		425,886	109,421	535,307	471,633	250,736	722,369

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derived from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2021

		2021		2020
	Notes	£	£	E	£
Fixed assets
Tangible assets	11		1,402		1,870
Current assets
Debtors	12	103,914		75,681
Cash at bank and in hand		495,386		691,390
		599,300		767,071
Creditors: amounts falling due within
oneyear	13	(65,395)		(46,572)
Net current assets			§33,905		720,499
Total assets less current liabilities			535,307		722,369
Income funds
Restricted funds	14		109,421		250,736
Unrestricted funds
Designated funds		112,953		113,338
General unrestricted funds		312,933		358,295
			425,886		471,633
			535,307		722,369

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021, although an audit has been carried out under section 145 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 30 March 2022

Trustee °

Company Registration No. 04509224

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 De ee Te enn. eee

• 1 Accounting policies

Charity information

Middlesbrough Voluntary Development Agency is a private company limited by guarantee incorporated in England and Wales. The registered office is St Marys Centre, 82-90, Corporation Road, Middlesbrough, TS1 2RW, United Kingdom.

1.1 Accounting convention The accounts have been prepared in accordance with the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019). The is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

• 1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. The extent of the impact of Coronavirus is unclear and it is difficult to evaluate all the potential implications on the charity's services and the wider economy. The charity has a significant level of reserves and continues to seek opportunities to maximise revenue and contro! costs, although there is a degree of uncertainty about the short to medium term impact of the pandemic. Therefore, this statement is not a guarantee as to the charity's ability to continue as a going concern. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

• 1.5 Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Direct charitable expenditure includes the direct costs of the activities and depreciation on related assets. Where such costs relate to more than one functional cost category, they have been split on an appropriate basis.

1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office furniture - 20% per annum on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

• 1.9 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Middlesbrough Voluntary Development Agency participates in The Pensions Trust's Growth Plan (The Plan). The Plan is funded and is not contracted out of the State scheme. The Plan is a multi-employer pension plan and the charity is unable to determine its share of the underlying assets and liabilities. The scheme is therefore accounted for as a defined contribution scheme.

MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

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2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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.

3 Donations and legacies

	2021	2020
	£	£
Donationsand gifts	-	250
Lloyds Infrastructure	30,000	-
Donated goods and services	161,691	-
	191,691	250

All amounts shown above are classified as unrestricted.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

4	Income from charitable activities
		Restricted funds	Restricted funds
		2021	2020
		£	£
	Strategic Development - Carers Partnership	-	(26,571)
	Community Development -You've Got This	36,777	37,287
	Community Development - BoroActive Explorers	21,160
	Community Development -YALF	25,000	-
	Volunteer Centre - Step Forward Tees Valley (BBO)	39,963	41,472
	Volunteer Centre -VolunteerOutreach Service	-	20,000
	Healthwatch South Tees (Council)	-	168,312
	Middlesbrough Community Connect	-	37,478
	Middlesbrough Council (Commissioning)	~	9,198
	NAVCA/VCS Grant	3,000	-
		125,900	287,176
			as restated
		Unrestricted	Unrestricted
		Funds	Funds
		2021	2020
		£	£
	Middlesbrough Council - General	79,614	79,614
			as restated
		Total	Total
		2021	2020
		£	£
	Total income from charitable activities	205,514	366,790
5	Investments
		Unrestricted	Total
		funds
	‘
		2021	2020
		£	£
	Interestreceivable	2,609	4,533

Of the investment income for the year of £2,609 (2020: £4,533), the full amount has been credited to unrestricted funds.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

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6 Other income

		Unrestricted	Total
		funds
		2021	2020
		£	£
Other	income	ThA	°

Of the other income for the year £77,721 (2020: ENil), had been credited to unrestricted funds.

Included within other income is;
JRS	72,081
Other miscellanous income	5,640
	77,721

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

T Expenditure on charitable activities

					As restated
	Basis of Allocation		Charitable activities	Governance costs	Total 2021	Total 2020
		£	£	£	£
Staffcosts	Direct	386,274	-	386,274	490,621
Depreciation and impairment	Direct	468	-	468	468
Stafftravel, training, recruitment
and expenses	Direct	972	-	972	8,530
Events and project costs	Direct	1,773	-	1,773	11,228
Legaland professionalfees	Direct	2,785	-	2,785	3,265
Auditand accountancyfees	Direct	-	10,546	10,546	6,582
ICT costs	Direct	19,691	-	19,691	16,890
Membership fees	Direct	850	-	850	1,596	,
Sundry expenses	Direct	256	-	256	3,675
Othercharitable expenditure	Direct	-	-	-	4,039
Donated goods	Direct	161,691	.	161,691	-
Partnercosts	Direct	37,044	-	37,044	157,922
Specialist support	Direct	16,000	-	16,000	10,843
Support costs allocated to
activities
Printing, postageand stationery	Usage	1,411	-	1,411	2,947
Telephone and internet	Usage	3,985	-	3,985	5,871
Premises costs	Usage	19,328	-	19,328	17,775
Insurance	Usage	1,496	.	1,496	-
Bankcharges	Usage	-	27	27	64
		654,024	10,573	664,597	742,316
Analysis by fund
Unrestrictedfunds		386,809	10,573	397,382	18,572
Restricted funds		267,215	-	267,215	723,744
		654,024	10,573	664,597	742,316
Included in above:
Operating lease rentals		-	-	-	567
Fees payable to auditor for:
-Audit		5,770	-	5,770	4,250
-Otherservices		4,776	-	4,776	1,503

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

a 7Expenditure on charitable activities (Continued)

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |As|restated| |Basis|of|Charitable|Governance|2020| |Allocation|_|activities|costs| |£|£|£|£| |Staff costs|Direct|490,621|-|490,621| |Staff travel,|training,|recruitment|and|expenses|Direct|8,530|8,530| |Events and|project|costs|Direct|11,228|11,228| |Legal and|professional|fees|Direct|3,265|3,265| |Audit and|accountancy|fees|Direct|829|5,753|6,582| |ICT|costs|Direct|16,890|-|16,890| |Membership fees|Direct|1,596|-|1,596| |Sundry|expenses|Direct|3,675|-|3,675| |Other|charitable|expenditure|Direct|4,039|-|4,039| |Partner|costs|Direct|157,922|-|157,922| |Specialist|support|Direct|10,843|-|10,843| |Support costs|allocated|to|activities|-| |Printing,|postage and|stationery|Usage|2,947|-|2,947| |Telephone|and|internet|Usage|5,871|-|5,871| |Premises|costs|Usage|17,775|-|17,775| |Bank charges|Usage|34|30|64| |736,533|5,783|742,316| |Analysis|by|fund| |Unrestricted|funds|12,789|5,783|48,572| |Restricted|funds|723,744|-|723,744| |736,533|5,783|742,316| |Included|in|above:| |- Operating|lease|rentals|567|-|567| |Fees|payable|to|auditor|for:| |- Audit|4,250|-|4,250| |- Other|services|1,503|-|1,503|

----- End of picture text -----

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

8 Grants payable

Grants payable
		As restated
	2021	2020
	£	£
Grants to institutions:
CarerTogether -Community Connect	-	54,257
Middlesbrough CitizensAdvice Bureau - Community Connect	-	41,376
RCDVA - Healthwatch	-	28,145
The Junction Foundation	6,146	18,436
Benefits advice service	-	15,708
Middlesbrough and Stockton MIND	26,163	-
Breckon Hill Community Enterprise	4,735	-
Other	~	-
:	37,044	157,922

The Junction Foundation

A grant on behalf of the local Carers Partnership to support a specific project around young carers in schools.

Middlesbrough and Stockton Mind

A grant on behalf of the local Carers Partnership to support a mental health project for carers.

Breckon Hill Coummunity Enterprise

Agrant on behalf of the local Carers Partnership to support a project around reaching carers from diverse communities.

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration, expenses or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2021	2020
Number	Number
13	18

90

MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

2

10	Employees		(Continued)
	Employmentcosts	2021	2020
		£	£
	Wagesandsalaries	349,379	437,119
	Social security costs	25,723	37,159
	Other pension costs	WAV.	16,343
		386,274	490,621

11 Tangible fixed assets

Tangible fixed assets
	Office furniture
	£
Cost
At 1 April 2020	2,338
At 31 March 2021	2,338
Depreciation and impairment At 1 April 2020 Depreciation charged in the year	468 468
At 31 March 2021	936
Carrying amount At 34 March 2021	1,402
At31March2020	1,870

12 Debtors

Debtors
	2021	2020
Amounts falling duewithinone year:	£	£
Trade debtors	47,207	5,349
Accrued income	48,886	53,985
Prepayments	7,821	16,347
	103,914	75,681

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
	2021	2020
	£	£
Othertaxation and social security	7,586	9,416
Trade creditors	39,115	28,613
Other creditors	4,017	3,291
Accruals and deferred income	14,677	5,252
	65,395	46,572

290%

MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

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14 Funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

		Movement in funds	Movement in funds
	Balance at 1 April 2020	Incoming resources	Resources expended	Transfers, gainsand losses	Balance at 31 March 2021
	£	£	£	£	£
Carers Partnership	181,981	-	(59,684)	(21,479)	100,818
We CareYou Care	-	-	(21,479)	21,479	-
Care& Support	22,832	-	(22,832)	-	-
Community Development - General - YALF	-	25,000	(25,000)	-	-
Parenting You've Got This	44,767 -	~ 36,777	(44,767) (28,562)	- -	- 8,215
BoroActive Explorers	-	21,160	(21,160)	-	-
Step Forward TeesValley (BBO)	1,156	39,963	(40,731)	-	388
NAVCA/VCS Grant	-	3,000	(3,000)	-	-
Total Restricted Funds	250,736	425,900	(267,215)	-	109,421
Unrestricted funds:
General funds	358,295	189,944	(235,306)	-	312,933
Generalfunds -donated goods	-	161,691	(161,691)	-	-
Designated Funds: Activity fund Redundancy fund	70,000 25,000	- -	~ -	- -	70,000 25,000
Pension provision	18,338	-	(385)	-	17,953
TotalFunds	722,369	477,535	(664,597)	-	535,307

8

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

14 Funds

(Continued)

General funds

These funds represent unrestricted resources available for the general work of the charity at the discretion of the Trustees.

Designated funds

These funds represent unrestricted resources which have been designated by the Trustees for specific purposes. There are currently three such funds as follows:

• i. Activity Fund This is to allow the charity to underwrite activity pending the outcome of negotiations and bids for funding.

ii. Redundancy Fund This is to allow the charity to pay any future redundancy costs which may arise.

ili. Pension Provision The Trustees have taken the decision to allocate the most recent contingent liability notified (see note 19 below) to a designated fund.

Restricted Funds

These funds relate to grants and donations received for specific purposes laid down by the donor.

Care and support

A grant programme to support the transformation of care and support services.

Middlesbrough Carers Partnership and Carers Information/Supporting Carers Funding received from Middlesbrough Council to co-ordinate the commissioning of activities and distribution of grants in support of the outcomes in the Middlesbrough Carers Strategy. In addition funding received to support achievement of outcomes in the Carers Strategy through the Joint Commissioning Group.

Middlesbrough Council Core Grant

Acore grant received by Middlesbrough Council to support the charity in its role as the local support and development organisation for Middlesbrough.

Middlesbrough Mental Health Partnership

Funding received to support the development and co-ordination of the Middlesbrough Mental Health Partnership.

Parenting - Barnardos

Funding received to enable the charity to support continued work around the local parenting strategy.

Step Forward Tees Vailey: Building Better Opportunities

Funded by the Big Lottery Fund and the European Social Fund and the European Social Fund until September 2019. Working in partnership with 27 voluntary and community sector delivery partners, SFTV will support 2,500 people into or towards employment.

Volunteer Outreach Service

Funding received to promote volunteering and support local people to access opportunities through the delivery of an outreach service in a range of community venues.

Office of the Police and Crime Commissioner for Cleveland

Funding received from the OPCC to support the continued development of the Cleveland Safer Communities Network, which acts as the primary vehicle for VCS engagement across the Cleveland area.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

a

14 Funds

(Continued)

Carers Partnership

funding held in support of the local carers strategy, including the delivery of the We Care You Care project by MVDA, with the aim of improving support for carers across the South Tees area and supporting local VCS activity.

We Care You Care

The funding received is associated with a communications and campaigns project that is in support of the local carers strategy.

You’ve Got This

We have received funding from You've Got This — the Sport England Local Delivery Pilot to employ the Insights and Analytics Officer post a part of the core team. This is in line with the programme model of a distributed leadership approach.

Your Active Living Fund (YALF)

Funding via the Sport England Local Delivery Pilot known as You've Got This to co-ordinate a small grants programme across the South Tees area, working with RCVDA.

You've Got This Insight and Analytics Funding to host a post as part of a distributed leadership model whereby different partner organisations employ staff to work collaboratively as part of the core team for the YGT programme.

Boro Active Explorers

Funding received via the YGT programme for MVDA to work collaboratively with Community Ventures Limited and Middlesbrough Environment City on a one-year project to engage communities in Thorntree & Brambles and North Ormesby with their local environment, increasing physical health and improving mental health. MVDA's role had a particular focus on volunteering.

NAVCA VCS Emergencies Partnership Grant

A small grant received via the national VCS Emergencies Partnership, whereby local infrastructure organisations contribute to the Covid-19 response.

Included within general unrestricted - donated goods, MVDA has received various surplus items from local firms and business such as Axa, Bizhub, Cosmo Lab, Costa, Gillifordtry, 'Oreal, M&S, Morrisons, Tesco, and Virgin to distribute at no cost to VCOs in Middlesbrough, the wider Tees Valley and surrounding areas. These items can be used by the voluntary sector within their own organisation or given freely to their beneficiaries, none of the items may be sold. As a knock on effect we also found that other VCOs were also offering us items which they no longer had a use for but still had some life in them (ie office furniture) to re distribute that they had no further use for.

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

14 Funds

(Continued)

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

		Movement in funds -As	Movement in funds -As	restated
	Balance at 1	Incoming	Resources	Transfers,	Balance at 31
	April 2019	resources	expended	gainsand	March 2020
				losses
	£	£	£	£	£
Care and Support	141,975	-	(119,143)	-	22,832
Middlesbrough Council Commissioning	-	9,198	(9,198)	-	-
You've GotThis	-	37,287	(37,287)	-	-
Health Partnership Development	60,000	-	(60,000)	-	-
CAMHS	8,190	-	(8,190)	-	-
Carers Information/ Supporting Carers	362,030	(26,571)	(153,478)	-	181,981
Community Linkand Support	57,692	37,478	(95,170)	-	-
Parenting - Barnardos	44,767	-	-	-	44,767
Step Forward Tees Valley (BBO)	1,444	41,472	(41,760)	~	1,156
Volunteer Outreach Service	-	20,000	(20,000)	-	-
Healthwatch South Tees (Council)	11,206	168,312	(179,518)	-	.
Total Restricted Funds	687,304	287,176	(723,744)	-	250,736
Unrestricted funds:
General funds	288,169	84,397	(14,269)	-	358,297
Designated Funds:					-
Activity fund	70,000	-	-	-	70,000
Redundancy fund	25,000	-	-	-	25,000
Pension provision	22,641	-	(4,303)	-	18,338
TotalFunds	1,093,114	371,573	(742,316)	-	722,369

-26-

MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

a

15	Analysis ofnetassets between funds	Restricted Unrestricted	Restricted Unrestricted	Total
		£	£	£
	Fund balances at 31 March 2021 are represented by:
	Tangibleassets Current assets/(liabilities)	1,402 108,019	- 425,886	1,402 533,905
		109,421	425,886	535,307
		Restricted	Unrestricted	Total
		£	£	£
	Fund balances at 31 March 2020 are represented by:
	Tangible assets Current assets/(liabilities)	1,870 248,866	- 471,633	1,870 720,499
		250,736	471,633	722,369

16 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

			2021	2020
			£	£
Within	one	year	.	142

17 Events after the reporting date

After the period end, the effect of the Coronavirus pandemic has continued to have a significant impact on the charity and the wider economy. We have continued to operate and have sourced local and national government financial support to ensure that any impact is mitigated.

18 Related party transactions

Remuneration of key management personnel The remuneration of key management personnel is as follows.

		2021	2020
		£	£
Aggregate	compensation	126,910	128,905

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) ‘FOR THE YEAR ENDED 31 MARCH 2021

18 Related party transactions

(Continued)

Transactions with related parties

During the year, Middlesbrough Citizens Advice Bureau, a charity where Mr J Daniels, Trustee, is the Chief Executive Officer, provided services to the Charity to the value of £nil (2020 - £20,688 ) and received services from the Charity to the value of £100 (2020 - Enil).

During the year, Breckon Hills Community Centre, a charity where Mrs A Buck, Trustee, is the Chief Executive Officer was given a grant of ENil (2020 - £9,735). The amount outstanding at the year end was ENil (2020 - £4,735).

19 Pension Contingent Liability

Middlesbrough Voluntary Development Agency Limited (MVDA) participates in The Pensions Trust's Growth Plan (The Plan). The Plan is funded and is not contracted-out of the State scheme. The Plan is a multi-employer pension plan.

The Growth Plan is a "last man standing" multi-employer scheme. This means that if a withdrawing employer is unable to pay its debt on withdrawal the liability is shared amongst the remaining employers. The participating employers are therefore, jointly and severally liable for the deficit in the Growth Plan.

MVDA has been notified by The Pensions Trust of the estimated employer debt on withdrawal from The Plan based on the financial position of The Plan as at 30 September 2020, calculated using the technical provisions valuation basis. As of this date the estimated employer debt for MVDA was £17,953 (2020: £18,338 ).

As at 30 September 2020 The Plan had a buy-out deficit of £33.3m (September 2019 - £111.9m).

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |£| |Provision|at|start|of accounting|period|18,338| |Provision|charged|during|the|period|(385)| |Provision|at end|of|accounting|period|17,953|

----- End of picture text -----

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MIDDLESBROUGH VOLUNTARY DEVELOPMENT AGENCY (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

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20 ~=—~Prior period adjustment

Changes to the balance sheet

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |At|31|March|2020| |As|previously|Adjustment|As|restated| |reported| |£|£|£| |Capital|funds| |Income|funds| |Restricted|funds|250,736|-|250,736| |Unrestricted|funds|471,633|-|471,633| |Total|funds|722,369|-|722,369| |Changes|to|the|statement|of financial|activities| |Period|ended|31|March|2020| |As|previously|Adjustment|As|restated| |reported| |£|£|£| |Income from|charitable|activities|405,791|(39,001)|366,790| |Expenditure|on|charitable|activities|781,317|(39,001)|742,316| |Net movement|in|funds|(370,743)|-|(370,743)|

----- End of picture text -----

It was noted that within the prior year, income and expenditure were found to be overstated in the financial statements, totalling £39,001, this adjustment has no effect on the overall position of the funds.

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a SSS

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