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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 03591314 REGISTERED CHARITY NUMBER: 1095257

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

ALL SAINTS ACTION NETWORK LTD.

Copia Wealth & Tax Limited Chartered Accountants 8 Pendeford Place Pendeford Business Park Wobaston Road Wolverhampton WV9 5HD

ALL SAINTS ACTION NETWORK LTD.

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Page
Report of the Trustees 1 to 8
Independent Examiner's Report 9
Statement of Financial Activities 10
Balance Sheet 11 to 12
Notes to the Financial Statements 13 to 23
Detailed Statement of Financial Activities 24 to 25

ALL SAINTS ACTION NETWORK LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Purpose

ASAN first came together in 1995 as a group of residents and local organisations who were concerned about the decline of All Saints which is a community which sits alongside the ring road in the centre of Wolverhampton.

ASAN is a charity, development trust, community enterprise and a network bringing together members of the local community and local organisations from the public, community and private sector in and around the All Saints area.

All Saints is an area which exhibits social deprivation on multiple levels and ASAN continues to champion projects which give local people opportunities to improve both their lives and the neighbourhood in which they live.

ASAN's Vision

To improve quality of life for all people living and working in the All Saints area of Wolverhampton.

ASAN's Mission

To work with residents, businesses and partners to create a safe, clean and friendly community that people are proud of.

ASAN's Strategic Objectives

ASAN seeks to further its vision and mission by organising all of its activities under the following strategic objectives:-

  1. To develop community led projects and services based on an understanding of local needs and aspirations.

  2. To become financially self-sustaining through the development of physical assets and social enterprise.

  3. To provide a route to employment through training, the development of skills and building local capacity.

  4. To be environmentally sustainable across all our activities.

  5. To develop and manage the organisation effectively.

ASAN's Organisational Values

Page 1

ALL SAINTS ACTION NETWORK LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES

Core Activities and Performance in 2019/20

ASAN is an organisation that seeks to improve the lives of people in All Saints. It achieves this through a range of activities it undertakes directly, by building partnerships through networking and by acting as an influencer/ community advocate.

During 2020/21 ASAN has maintained and developed initiatives, which have been underpinned by organisational stability via continued income stream from activities and assets. The asset development and income streams are key to ASAN's long term sustainability

The businesses run by ASAN deliver on its strategic objectives. The table below summarises the linkages between ASAN activities and strategic objectives. It illustrates how activities contribute to progressing multiple strategic objectives.

Activities To work with
local people to
establish
community
managed
services		 To work
towards a
sustainable
approach to the
organisation's
activities		 To provide a
route to
employment		 To become
financially self
sustaining		 To develop
and manage
the
organisation
effectively
The Workspace - offices for rent x x x x x
The Workspace - Conferences x x
ASAN Wood Saints x x x
Southside Sports - Football x x x x
Tool Library - loan tools x x x
All Saints Day Nursery x x x x x
Community Recycling Services x x
All Saints Festival x x

Writing an annual report for this year has been challenging, as the impact of the COVID-19 on ASAN and for the communities we serve has been significant and substantial. This year was like no other and our focus pinned on supporting people in our local area, as the consequences of the pandemic cut across the full range of human concerns - physical, practical, emotional and mental.

The impact on our staff team also cannot be underestimated - furlough, working from home, temporarily closing some services and reviewing our operations were measures that had to be put in place. We continued to update our COVID-19 risk assessments to ensure the safety of our teams and our stakeholders, the input of Wolverhampton City Council and the Public Health team is much appreciated in this regard.

Through it all we have learnt many lessons and that is, with the support of committed staff, trustees, partners and funding organisations, we have adapted and strengthened our resolve as we build on the experience we have gained. A huge thankyou goes to the staff team and their flexibility in working through the on-going challenges as the pandemic continues to test us all.

As reported in the previous annual report, we established a Community Hub from March 2020 to support our local area in dealing with these issues, the Hub has continued to operate throughout the year.

Our performance and achievements

The Workspace - the impact of COVID-19 on Workspace operations was substantial. The building remained open for the Community Hub and for any tenants wishing to access their offices. We implemented a number of measures to support those tenants particularly affected by the pandemic and subsequently lost a few organisations who either felt they could transfer their business to working-from-home or on-line. By the close of this year 71% of our offices were occupied. Our conference and events bookings were down by over 70% in comparison to 2019-2020.

Southside Sports - we operated to Football Association guidance and as such, the pitches were closed for over 5 months of the year. Despite this, the service performed well and we enjoyed an uptake of the football pitches which proportionately was consistent with the year before.

Additional achievements included:

Page 2

ALL SAINTS ACTION NETWORK LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES

Café service - this service, whilst closed for a significant part of the year, was core in supporting the Community Hub in the production and delivery of meals to the local community.

Wood Saints - from May 11th 2020, we decided to open the Wood Depot without volunteers and only a skeleton staff, whilst adhering to Government COVID guidelines. This proved to be a key decision as it enabled the Wood Depot to be an important anchor for many people who wished to undertake DIY projects, it contributed to their well-being, it aided the financial viability of the organisation in this fragile period and enabled the employment of 3 staff who otherwise would have lost their jobs. Despite being closed for 6 weeks, in comparison to the previous year, retail figures increased by almost 50% and the national collections income was surpassed.

All Saints Day Nursery - during nursery lockdowns we were not able to claim furlough for the Early Years Practitioners (due to almost all the children having funded places). During these times staff supported the Community Hub and ensured contact with nursery children and f amilies through weekly phone-calls and a strong on-line presence.

Since the third lockdown was announced, the Nursery team once again supported parents with online activities. These were uploaded each day and many parents accessed these to support their children's learning and ideas were offered to support parents concerning any issues or worries they may have. This was a useful tool to reach out to parents. All activities were thoughtfully planned and implemented with discussions each day to ensure activities were exciting and engaging!

The Nursery FaceBook page and social media profile has been a huge achievement - story-telling and connecting with children and families has enabled a strengthened partnership with parents. Delivering activity packs for all children was another way of supporting children and families. Nursery occupancy during this year has remained positive and stable at a rate of 69% towards the end of this year.

The Covid risk assessment continues to be implemented, a new entrance and increased cleaning routines are just 2 of the measures in place.

Community Development - working with local partners All Saints Action Network began delivery of an Emergency Community Hub, to ameliorate the impact of COVID-19 upon residents of the All Saints neighbourhood, in March 2020. In the first 2 months of delivering the hub, ASAN supported 57 local residents through picking up shopping, dealing with urgent errands, collecting prescriptions, providing access to a telephone helpline and making referrals to a partner organisation for food parcels. 22 service users expressed the need for continued support along these lines after the lockdown. All service users felt that life would not be normal after lockdown. Some felt it was too early for them to be going out even though they had been in lockdown for 10 weeks. Others felt that now w ould be good to try and go out, although may required additional emotional support.

Following the above ASAN sought to address further community needs arising from the Pandemic through a successful application to the National Lottery Community Fund - Coronavirus Community Support Fund for a 6 month project designed to deliver support to local families. Other Hub outcomes included:

Hot food meals delivered - 840 Food parcels delivered - 500 Telephone support - 26 residents for weekly calls Shopping - 10 Activity packs - 170 delivered

In addition to the above support, ASAN was able to support residents with donations as we have received so much support from our partners. We have given out baby items such as baby milk, highchairs, a cot and branded teddy bears.

We were successful in applying to the National Lottery Community Fund (Awards for All) for a project assisting in alleviating the impact of Covid-19 on All Saints through improving some key spaces within the neighborhood. In delivering this, we were able to partner with a local Horticulture CIC to provide a Gardening project engaging local people. A community green space in nearby Gower Street (including engaging interested residents) to include tidying up the space, re-planting the planter and litter picking.

Page 3

ALL SAINTS ACTION NETWORK LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES

As was the case with the whole of Wolverhampton's Community Centres, All Saints Community Centre was shut for the duration of this year, for this reason and the need to keep people safe, the Tool Library was not operational.

Future plans

The coming year looks as if the grip of COVID-19 will continue to varying degrees. As such, the impact of this on our services will remain in some way, shape or form, for example, the outcome on the Workspace of the persistence of the working from home trend. Our funding strategy is another focus of attention, as through this we will be able to pursue other priorities and innovative projects aimed at improving the lives of disadvantaged people. We continue to be ambitious and aspirational. The plans for nursery expansion will be developed with phase 1 underway - this includes the walkway to the nursery entrance.

We will continue with the community development work and hope that two ASAN festivals will be held to bring fun-filled, community-based events to local people.

Public benefit

In setting our objectives and planning our activities the Trustees have given careful consideration to the Charity Commission's guidance on public benefit.

All our charitable activities focus on 'benefitting residents of the All Saints area of Wolverhampton and its environs' and are undertaken to further our charitable purposes for the public benefit. ASAN has particularly benefitted the following groups:

FINANCIAL REVIEW

The Statement of Financial Activities shows a surplus on unrestricted funds for the year of £5,054 (2020: £5,717)) and a deficit on restricted funds of £45,397 (2020: £50,942) representing a net deficit for the year of £40,343 (2020: £45,225). The deficit on restricted funds arises as a result of the depreciation charged in the year against assets purchased with restricted funds in earlier years. Total reserves now stand at £2,122,226 (2020: £2,162,569), consisting of £454,615 (2020: £449,561) unrestricted funds and £1,667,611 (2020: £1,713,008) of restricted funds.

The balance on unrestricted reserves in the charity is £454,615, which includes £175,666 relating to fixed assets and £142,126 relating to designated funds. Therefore, the balance on free reserves in the charity are £136,823 at 31 March 2021. The balance sheet remains strong with net current assets of £296,943.

Reserves Policy

The Management Committee has examined the charity's requirement for reserves in relation to risks and funding of the charity. In setting a reserve policy the directors aim to establish reasonable, but not absolute, protection against risk. The reserves therefore have the principal objective of providing protection for most fluctuations in income and expenditure. This would be considered to cover a four-month period.

The budgeted expenditure for the Charity and its subsidiary is around £500,000. The Management Committee has established a policy whereby reserves held should be equivalent to 4 months of budgeted expenditure plus potential redundancy costs of £30,000. At this level, the Management Committee is satisfied that the charity would be able to continue in operation and meet its obligations. The target is, therefore, approximately £200,000 of free unrestricted reserves. The unrestricted funds (excluding fixed assets and previously designated funds) are £136,823 at 31 March 2021 and the Management Committee will continue to strive to meet the target figure outlined in the reserve policy.

As with previous years, it remains the company's policy to spread its activity over a number of income-generating opportunities. The charity receives a significant proportion of its funds from the trading activities of its subsidiary, ASAN Management Services Limited.

Page 4

ALL SAINTS ACTION NETWORK LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

ASAN is a private charitable company limited by guarantee, registered in England and Wales, which was incorporated in July 1998 and registered as a charity in 2002. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Page 5

ALL SAINTS ACTION NETWORK LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Board composition

The composition of the Board of Directors is governed by the Articles of Association of the company. A report is made to the AGM on the membership of the Board and the arrangements for election. The officers of the Board and one third of the elected members must stand down at the AGM. All co-optees must stand down and either stand for election or be considered again for co-option at the first Board meeting after the AGM.

The company shall have a Board of Directors comprising not less than ten and not more than sixteen persons as follows:

The Board meets at least six times a year. It also appoints specific sub- committees or sub-groups to review specific activities or implement major projects. These groups report directly back to the Board.

The charity is always interested in recruiting new members of the local community who can contribute to its work. It is also keen to attract directors who have business and/or other technical experience. The Board takes its governance role very seriously and reviewed its arrangements in 2015 with external support from the Governance Forum.

The charitable company wholly owns ASAN Management Services Ltd, a private limited company, which is used to manage the trading activities of the charitable company. There are two Directors of this company - Colin Gough and Phil Davis.

Role of the Board

Trustees are responsible for keeping adequate accounting records, financial statements and ensuring compliance with the Companies Act 2006. The Board is focussed on Policy and strategy, overseeing internal controls, identification of local needs and community engagement. Working with partners, the community and All Saints residents.

The ASAN Board appoints the Chief Executive who is tasked with implementing the business plan of the organisation and is accountable for day to day management of the charity and ASAN Management Services Ltd, as well as the implementation of approved policies and controls. The business plan is reviewed and approved annually. This process involves extensive consultation with key stakeholders, customers and staff. The business plan contains targets with actions and milestones required for delivery and regular reports are provided to the Board.

Every year ASAN goes through a process of Social Accounting and Audit. Stakeholders and customers are consulted to find out how effective the organisation has been in achieving its objectives. The results are independently verified by a qualified Social Auditor. This process informs the business plan and the ongoing review of performance. This activity is not a requirement of funders or the regulatory authorities, it is something the organisation is committed to do in order to demonstrate our commitment to meeting our objectives and securing continuous improvement. The latest set of social accounts can be viewed on our website at www.asan.org.uk.

Appointment of Trustees

Appointment of the Chair and Trustees is as set out in the Articles of Association. New trustees are supported through an induction process which includes observing at Board meetings, meeting senior staff and being made familiar with their legal requirements. Board members are encouraged to attend external good practice and learning events as well as contributing to key projects and initiatives.

Financial reporting

Operations of the business activities are delegated to the Senior Management Team. Management accounts are prepared quarterly for each business together with commentary and performance dashboards from each business manager and are presented to Board. An annual budgeting process is undertaken, including an annual planning day, encompassing all business areas and the organisation as a whole.

Page 6

ALL SAINTS ACTION NETWORK LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Risk management

The Board are committed to effective risk management and effective horizon scanning in relation to both internal and external pressures on the organisation.

Board papers for decision include a risk assessment section for consideration. Risk management will continue to be a focus as new business and enterprise opportunities are developed and existing business are continually improved.

The senior management team at ASAN meet on a monthly basis and risk management is a cross cutting consideration informing all substantial decisions.

Regular reports are presented to funders to ensure that they are kept informed of ASAN activities. The Board is committed to using high quality external advice to ensure effective risk management.

Internal controls

Financial controls are reviewed regularly by the business managers and finance team in response to the changing business environment.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03591314 (Not specified/Other)

Registered Charity number

1095257

Registered office

The Community Centre All Saints Road Wolverhampton WV21EL

Trustees

Mrs G M Collins N Crombie (resigned 26.1.21) P W Davis C H Gough Mrs M Johnson D S Sidhu C Smart L A Streete J A Gulliford Ms T A Callear G Sharples (resigned 12.2.21) A S G R Pike (resigned 1.6.21) Councillor S Samuels OBE (appointed 26.1.21)

Company Secretary

I Karim

Independent Examiner

Copia Wealth & Tax Limited Chartered Accountants 8 Pendeford Place Pendeford Business Park Wobaston Road Wolverhampton WV9 5HD

Page 7

ALL SAINTS ACTION NETWORK LTD.

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

REFERENCE AND ADMINISTRATIVE DETAILS Chief Executive Officer

Shobha Asar-Paul

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

Approved by order of the board of trustees on 21 December 2021 and signed on its behalf by:

Mrs M Johnson - Trustee

Page 8

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ALL SAINTS ACTION NETWORK LTD.

Independent examiner's report to the trustees of All Saints Action Network Ltd. ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

S D Philpott

Shaun Philpott FCA Institute of Chartered Accountants in England and Wales Copia Wealth & Tax Limited Chartered Accountants 8 Pendeford Place Pendeford Business Park Wobaston Road Wolverhampton WV9 5HD

21 December 2021

Page 9

ALL SAINTS ACTION NETWORK LTD.

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
Nursery
Investment income
3
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
Network Support
Nursery
All Saints Workspace
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
149,355
162,637
106,126
418,118
21,834
134,100
134,728
122,402
413,064
5,054
449,561
454,615		 Restricted
funds
£
-
-
-
-
-
45,397
-
-
45,397
(45,397)
1,713,008
1,667,611		 2021
Total
funds
£
149,355
162,637
106,126
418,118
21,834
179,497
134,728
122,402
458,461
(40,343)
2,162,569
2,122,226		 2020
Total
funds
£
103,160
161,117
111,030
375,307
-
133,296
152,404
134,832
420,532
(45,225)
2,207,794
2,162,569

The notes form part of these financial statements

Page 10

ALL SAINTS ACTION NETWORK LTD.

BALANCE SHEET 31 MARCH 2021

Notes
FIXED ASSETS
Tangible assets
11
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
PENSION LIABILITY
18
NET ASSETS
FUNDS
17
Unrestricted funds:
General fund
Renewable Energy
Workspace Maintenance
Restricted funds:
Capital Grants
Advantage West Midlands: (The Workspace)
Capital Grants; The Workspace
Mike Swain Memorial Fund
Suez Community Trust
TOTAL FUNDS		 2021
£
1,843,172
1
1,843,173
171,071
186,324
357,395
(60,452)
296,943
2,140,116
(17,890)
2,122,226
312,489
28,860
113,266
454,615
6,766
245,349
1,382,693
102
32,701
1,667,611
2,122,226		 2020
£
1,894,691
1
1,894,692
161,487
171,305
332,792
(45,272)
287,520
2,182,212
(19,643)
2,162,569
306,779
29,516
113,266
449,561
1,833
252,239
1,420,682
102
38,152
1,713,008
2,162,569

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 11

ALL SAINTS ACTION NETWORK LTD.

BALANCE SHEET - continued 31 MARCH 2021

The trustees acknowledge their responsibilities for

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

The financial statements were approved by the Board of Trustees and authorised for issue on 21 December 2021 and were signed on its behalf by:

M Johnson - Trustee

JAGulliford

J A Gulliford - Trustee

The notes form part of these financial statements

Page 12

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

Staff costs and overheads expenses are allocated to activities on the basis of staff time spent on those activities.

Costs of generating voluntary income comprise the salary costs incurred in undertaking grant bids.

Charitable activities comprise those costs incurred by the charity in the delivery of is activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Fixtures and fittings - 25% on reducing balance Motor vehicles - 25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these criteria is identified to the fund , together with a fair allocation of management and support costs.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 13

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

1. ACCOUNTING POLICIES - continued

Redundancy payments

Redundancy payments are payable when employment is terminated by the charitable company before the normal retirement date or end of employment contract.

Redundancy costs are recognised as they fall due.

2. DONATIONS AND LEGACIES

Other grants and donations
Gift aid
CJRS claims
3.
INVESTMENT INCOME
Rents received
Recharge of services
4.
RAISING FUNDS
Raising donations and legacies
Support costs
Other trading activities
Bad debts
Support costs
Aggregate amounts		 2021
£
102,867
5,000
41,488
149,355
2021
£
84,148
21,978
106,126
2021
£
1,423
2021
£
8,325
12,086
20,411
21,834		 2020
£
33,160
70,000
-		 2020
£
33,160
70,000
-
103,160
2020
£
96,864
14,166
111,030
2020
£
-
2020
£
-
-
-
-

continued...

Page 14

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

5. CHARITABLE ACTIVITIES COSTS

5.
CHARITABLE ACTIVITIES COSTS
Network Support
Nursery
All Saints Workspace
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Project costs
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Exceptional items include CJRS claims £41,488.		 Direct
Costs (see
note 6)
£
1,356
1,231
-
2,587		 Support
costs
£
178,141
133,497
122,402
434,040
2021
£
2,587
2021
£
58,829		 Totals
£
179,497
134,728
122,402
436,627
2020
£
7,217
2020
£
57,396

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

9. STAFF COSTS

2020 2019
£ £
Wages and salaries 298,777 285,270
Social security costs 15,233 14,881
Employers contribution to defined contribution pension schemes 7,016 4,800
321,026 304,951

Page 15

continued...

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

9. STAFF COSTS - continued

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

Direct charitable work
Trading activities
Charity management and administration		 2021
13
5
7
25		 2020
13
5
5
23

No employees received emoluments in excess of £60,000.

The chief executive's earnings for 2020/21 were £39,346.

10.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
88,360
Charitable activities
Nursery
161,117
Investment income
111,030
Total
360,507
EXPENDITURE ON
Charitable activities
Network Support
82,354
Nursery
137,616
All Saints Workspace
134,832
Total
354,802
NET INCOME/(EXPENDITURE)
5,705
Transfers between funds
12
Net movement in funds
5,717
RECONCILIATION OF FUNDS
Total funds brought forward
443,845
TOTAL FUNDS CARRIED FORWARD
449,562		 Restricted
funds
£
14,800
-
-
14,800
50,942
14,788
-
65,730
(50,930)
(12)
(50,942)
1,763,949
1,713,007		 Total
funds
£
103,160
161,117
111,030
375,307
133,296
152,404
134,832
420,532
(45,225)
-
(45,225)
2,207,794
2,162,569

Page 16

continued...

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

11. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020		 Freehold
property
£
2,455,996
-
2,455,996
609,175
49,120
658,295
1,797,701
1,846,821		 Improvements
to
property
£
90,691
-
90,691
52,539
5,451
57,990
32,701
38,152		 Fixtures
and
fittings
£
86,767
7,310
94,077
77,165
4,229
81,394
12,683
9,602		 Motor
vehicles
£
3,500
-
3,500
3,384
29
3,413
87
116		 Totals
£
2,636,954
7,310
2,644,264
742,263
58,829
801,092
1,843,172
1,894,691

12. FIXED ASSET INVESTMENTS

Shares in group undertakings £

MARKET VALUE

At 1 April 2020 and 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020		 1
1
1

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

ASAN Management Services Limited

Registered office: The Community Centre, All Saints Road, Wolverhampton, WV2 1EL Nature of business: Trading subsidiary

Nature of business: Trading subsidiary
%
Class of share: holding
Ordinary 100
31.3.21 31.3.20
£ £
Aggregate capital and reserves 8,056 8,354
(Loss)/profit for the year (298) 3,636

continued...

Page 17

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade debtors 12,718 17,397
Amounts owed by group undertakings 155,836 138,238
Prepayments and accrued income 2,517 5,852
171,071 161,487
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£ £
Trade creditors 17,735 9,674
Social security and other taxes 10,460 4,537
Other creditors 17,860 15,439
Accruals and other creditors 8,357 5,669
Deferred government grants 6,040 9,953
60,452 45,272

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

15. SECURED DEBTS

A second charge has been secured on The Workspace on 30 August 2012, in favour of the English Sports Council. This is security on Capital Grants received and receivable by the charity up to a maximum of £130,000.

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Investments
Current assets
Current liabilities
Pension liability		 Unrestricted
funds
£
175,666
1
357,290
(60,452)
(17,890)
454,615		 Restricted
funds
£
1,667,506
-
105
-
-
1,667,611		 2021
Total
funds
£
1,843,172
1
357,395
(60,452)
(17,890)
2,122,226		 2020
Total
funds
£
1,894,691
1
332,792
(45,272)
(19,643)
2,162,569

continued...

Page 18

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

17. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Renewable Energy
Workspace Maintenance
Restricted funds
Capital Grants
Advantage West Midlands: (The Workspace)
Capital Grants; The Workspace
Mike Swain Memorial Fund
Suez Community Trust
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Renewable Energy
Restricted funds
Capital Grants
Advantage West Midlands: (The Workspace)
Capital Grants; The Workspace
Suez Community Trust
TOTAL FUNDS		 At 1.4.20
£
306,779
29,516
113,266
449,561
1,833
252,239
1,420,682
102
38,152
1,713,008
2,162,569
Incoming
resources
£
418,118
-
418,118
-
-
-
-
-
418,118		 Net
movement
in funds
£
5,710
(656)
-
5,054
4,933
(6,890)
(37,989)
-
(5,451)
(45,397)
(40,343)
Resources
expended
£
(412,408)
(656)
(413,064)
4,933
(6,890)
(37,989)
(5,451)
(45,397)
(458,461)		 At
31.3.21
£
312,489
28,860
113,266
454,615
6,766
245,349
1,382,693
102
32,701
1,667,611
2,122,226
Movement
in funds
£
5,710
(656)
5,054
4,933
(6,890)
(37,989)
(5,451)
(45,397)
(40,343)

continued...

Page 19

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Renewable Energy
Workspace Maintenance
Restricted funds
Capital Grants
Advantage West Midlands: (The Workspace)
Capital Grants; The Workspace
Mike Swain Memorial Fund
Social Investment Business
Suez Community Trust
TOTAL FUNDS		 At 1.4.19
£
299,917
30,172
113,756
443,845
2,444
259,129
1,458,671
102
-
43,603
1,763,949
2,207,794		 Net
movement
in funds
£
6,850
(656)
(490)
5,704
(611)
(6,890)
(37,989)
-
12
(5,451)
(50,929)
(45,225)		 Transfers
between
funds
£
12
-
-
12
-
-
-
-
(12)
-
(12)
-		 At
31.3.20
£
306,779
29,516
113,266
449,561
1,833
252,239
1,420,682
102
-
38,152
1,713,008
2,162,569

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Renewable Energy
Workspace Maintenance
Restricted funds
Capital Grants
Advantage West Midlands: (The Workspace)
Capital Grants; The Workspace
Social Investment Business
Suez Community Trust
TOTAL FUNDS		 Incoming
resources
£
360,507
-
-
360,507
-
-
-
14,800
-
14,800
375,307		 Resources
Movement
expended
in funds
£
£
(353,657)
6,850
(656)
(656)
(490)
(490)
(354,803)
5,704
(611)
(611)
(6,890)
(6,890)
(37,989)
(37,989)
(14,788)
12
(5,451)
(5,451)
(65,729)
(50,929)
(420,532)
(45,225)		 Resources
Movement
expended
in funds
£
£
(353,657)
6,850
(656)
(656)
(490)
(490)
(354,803)
5,704
(611)
(611)
(6,890)
(6,890)
(37,989)
(37,989)
(14,788)
12
(5,451)
(5,451)
(65,729)
(50,929)
(420,532)
(45,225)
5,704
(611)
(6,890)
(37,989)
12
(5,451)
(50,929)
(45,225)

continued...

Page 20

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

18. EMPLOYEE BENEFIT OBLIGATIONS

SCHEME: TPT Retirement Solution - Scottish Voluntary Sector Pension Scheme

The company participates in the scheme, a multi-employer scheme which provides benefits to some 102 non-associated employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

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

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

A full actuarial valuation for the scheme was carried out with an effective date of 30 September 2017. This actuarial valuation was certified on 19 December 2018 and showed assets of £120.0m, liabilities of £145.9m and a deficit of £25.9m. To eliminate this funding shortfall, the trustees and the participating employers have agreed that additional contributions will be paid, in combination from all employers, to the scheme as follows:

Deficit contributions

From 1 April 2019 to 30 September 2026: £1,404,638 per annum (payable monthly and increasing by 3% )
each on 1st April
From 1 April 2019 to 30 September 2027: £136,701 per annum (payable monthly and increasing by 3% )
each on 1st April

The contributions to 30 September 2027 are in respect of those employers that have agreed concessions (both past and present) with the Trustee.

Note that the scheme's previous valuation was carried out with an effective date of 30 September 2014. This valuation showed assets of £88.2m, liabilities of £122.1m and a deficit of £33.9m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2016 to 31 October 2029: £1,323,116 per annum (payable monthly and increasing by 3% )
each on 1st April
From 1 April 2016 to 30 September 2031: £292,376 per annum (payable monthly and increasing by 3% )
each on 1st April
From 1 April 2016 to 30 September 2031: £37,475 per annum (payable monthly)

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

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

continued...

Page 21

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

18. EMPLOYEE BENEFIT OBLIGATIONS - continued

PRESENT VALUES OF PROVISION

31 March 2021 31 March 2020 31 March 2019
(£s) (£s) (£s)
Present value of provision 17,890 19,643 22,968
RECONCILIATION OF OPENING AND CLOSING PROVISIONS
Period Ending Period Ending
31 March 2021 31 March 2020
(£s) (£s)
Provision at start of period 19,643 22,968
Unwinding of the discount factor (interest expense) 462 312
Deficit contribution paid (3,020) (2,932)
Remeasurements - impact of any change in
assumptions		 805 (705)
Remeasurements - amendments to the contribution
schedule		 - (39,724)
Provision at end of period 17,890 19,643

INCOME AND EXPENDITURE IMPACT

Period Ending Period Ending
31 March 2021 31 March 2020
(£s) (£s)
Interest expense 462 312
Remeasurements - impact of any change in assumptions 805 (705)
Remeasurements - amendments to the contribution schedule -
Contributions paid in respect of future service - -
Costs recognised in income and expenditure account - -

*includes defined contribution schemes and future service contributions (i.e. excluding any deficit reduction payments) to defined benefit schemes which are treated as defined contribution schemes. To be completed by the company.

ASSUMPTIONS

continued...

Page 22

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021

18. EMPLOYEE BENEFIT OBLIGATIONS - continued

31 March 2021 31 March 2020 31 March 2019
% per annum % per annum % per annum
Rate of discount 0.86 2.57 1.46

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

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 23

ALL SAINTS ACTION NETWORK LTD.

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

INCOME AND ENDOWMENTS
Donations and legacies
Other grants and donations
Gift aid
CJRS claims
Investment income
Rents received
Recharge of services
Charitable activities
Nursery fees received
Total incoming resources
EXPENDITURE
Other trading activities
Bad debts
Charitable activities
Project costs
Support costs
Staff costs
Wages
Recruitment
Office costs
Telephone
Printing and stationery
Advertising
Overhead costs
Office costs
Travel and training
Property costs
Insurance
Light and heat
Carried forward		 2021
£
102,867
5,000
41,488
149,355
84,148
21,978
106,126
162,637
418,118
8,325
2,587
284,063
650
284,713
11,351
2,033
2,734
24,319
9,696
3,786
53,919
8,773
19,090
27,863		 2020
£
33,160
70,000
-
103,160
96,864
14,166
111,030
161,117
375,307
-
7,217
262,055
300
262,355
11,041
3,048
223
19,152
452
2,406
36,322
5,547
22,348
27,895

This page does not form part of the statutory financial statements

Page 24

ALL SAINTS ACTION NETWORK LTD.

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2021
Property costs
Brought forward
Repairs and renewals
Fire and safety
Waste disposal
Cleaning
Depreciation
Freehold property
Improvements to property
Fixtures and fittings
Motor vehicles
Finance costs
Sundries
Loan
Bank charges
Interest on pension scheme liabilities
Governance costs
Legal fees
Accountancy fees
Total resources expended
Net expenditure		 2021
£
27,863
6,607
3,060
3,242
1,322
42,094
49,120
5,451
4,228
29
58,828
(1)
-
259
1,423
1,681
3,314
3,000
6,314
458,461
(40,343)		 2020
£
27,895
1,335
7,140
1,326
3,750
41,446
49,120
5,451
2,785
39
57,395
-
152
237
(393)
(4)
13,101
2,700
15,801
420,532
(45,225)

This page does not form part of the statutory financial statements

Page 25

Issuer

Copia Wealth & Tax

Document generated Fri, 24th Dec 2021 9:50:49 UTC

Document fingerprint 758123ece14195db17998ea98efed133

Parties involved with this document

Document processed

Party + Fingerprint

Fri, 24th Dec 2021 15:04:30 UTC Fri, 24th Dec 2021 17:10:34 UTC Fri, 24th Dec 2021 17:15:16 UTC

Mr James Andrew Gulliford - Signer (87bf5e2b6400c8287f119301490d3aee) Mrs Maureen Johnson - Signer (ee572211a99a99e44bbc47cb3eaf9dac) Shaun Philpott - Signer (4966061b1edfae230cbd0664c0cc95c2)

Audit history log

Date

Action

Fri, 24th Dec 2021 17:15:16 UTC Fri, 24th Dec 2021 17:15:16 UTC Fri, 24th Dec 2021 17:14:19 UTC Fri, 24th Dec 2021 17:13:37 UTC Fri, 24th Dec 2021 17:10:34 UTC Fri, 24th Dec 2021 17:10:34 UTC Fri, 24th Dec 2021 17:10:34 UTC Fri, 24th Dec 2021 17:09:27 UTC Fri, 24th Dec 2021 15:04:31 UTC Fri, 24th Dec 2021 15:04:30 UTC Fri, 24th Dec 2021 15:04:30 UTC Fri, 24th Dec 2021 15:02:25 UTC Fri, 24th Dec 2021 15:00:07 UTC Fri, 24th Dec 2021 9:51:02 UTC Fri, 24th Dec 2021 9:50:51 UTC

Fri, 24th Dec 2021 9:50:51 UTC Fri, 24th Dec 2021 9:50:51 UTC

The envelope has been signed by all parties. (77.101.125.247) Shaun Philpott signed the envelope. (77.101.125.247) Shaun Philpott viewed the envelope. (77.101.125.247) Shaun Philpott viewed the envelope. (77.101.125.247) Document emailed to party email (35.179.76.59) Sent the envelope to Shaun Philpott for signing. (213.205.242.253) Mrs Maureen Johnson signed the envelope. (213.205.242.253) Mrs Maureen Johnson viewed the envelope. (213.205.242.253) Document emailed to party email (13.40.108.15) Sent the envelope to Mrs Maureen Johnson for signing. (82.132.245.216) Mr James Andrew Gulliford signed the envelope. (82.132.245.216) Mr James Andrew Gulliford viewed the envelope. (82.132.245.216) Mr James Andrew Gulliford viewed the envelope. (82.132.245.216) Document emailed to party email (35.176.46.196)

Sent the envelope to Mr James Andrew Gulliford for signing. (18.130.153.21)

Shaun Philpott has been assigned to this envelope. (18.130.153.21) Mrs Maureen Johnson has been assigned to this envelope. (18.130.153.21)

Fri, 24th Dec 2021 9:50:51 UTC

Mr James Andrew Gulliford has been assigned to this envelope.

(18.130.153.21) Fri, 24th Dec 2021 9:50:51 UTC Envelope generated. (18.130.153.21) Fri, 24th Dec 2021 9:50:51 UTC Document generated with fingerprint 758123ece14195db17998ea98efed133. (18.130.153.21) Fri, 24th Dec 2021 9:50:51 UTC Document generated with fingerprint facb81ba0bc01146fe12e335c16c3f75. (18.130.153.21) Fri, 24th Dec 2021 9:50:49 UTC Envelope generated with fingerprint c0d190dca2ffe6d6ab4e30319497f573 (35.176.231.177)