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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 03591314 REGISTERED CHARITY NUMBER: 1095257

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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 2022

Page
Report of the Trustees 1 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10 to 11
Notes to the Financial Statements 12 to 22

ALL SAINTS ACTION NETWORK LTD. (REGISTERED NUMBER: 03591314)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 2022. 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. (REGISTERED NUMBER: 03591314)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

Core Activities and Performance in 2021/22

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.

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

The consequences of COVID-19 on ASAN and the communities we serve continued to have an impact in this year where we are still in recovery over some of our areas of work. As the Government confirmed its easing of Lockdown measures in April '21 we started to consider a normality more in tune with what we knew before the pandemic struck. We continue to build on our services and it is a great achievement that all our enterprises are still operating without any significant change to their operating model. Without the determination and hard work of our staff and volunteers the outcome may have been very different.

Our performance and achievements

The Workspace

The impact of COVID-19 on Workspace operations was substantial. We have continued to build on securing conference bookings and increase the numbers of tenanted offices. At the end of this financial year 86% of our offices were let. Conferencing income has not quite achieved the numbers we had prior to the pandemic, it is evident that many in-person conferences and events have been replaced by on-line meetings. Despite this, performance has been stable and we are pleased to report that most of our anchor companies who deliver training from the Workspace have continued to partner with us.

Conferencing income was up by 2.5 times from the previous year.

Southside bookings continued to grow towards the end of the financial year with the online booking platform working well and attaining consistent regular customers.

It is evident that the maintenance of the pitches will become a matter of imminent attention as we go into the next financial year.

Café sales have increased steadily, performance is directly related to the Workspace footfall, a downturn in conference bookings will consequently adversely affect café sales. The café provides nursery lunches and offers catering to internal and external customers, it is a facility that provides considerable added value to Tenants and visitors. We constantly strive to offer a varied and seasonal menu choice to accommodate new and existing customers. Income from the Café and Tuk sales respectively doubled from the previous year.

Page 2

ALL SAINTS ACTION NETWORK LTD. (REGISTERED NUMBER: 03591314)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

OBJECTIVES AND ACTIVITIES

Wood Saints

This has been a challenging year for this enterprise, particularly considering the positive performance of 2020/21. Main factors affecting Wood Saints have been: the impact of building material shortages, price increases of building materials, staff absences due to COVID-19 and the loss of a major West Midlands supplier contract.

In November 2021, we experienced a second lockdown and the introduction of the 3 tier system of restrictions which affected construction companies and thereby Wood Saints' collections.

This alongside the temporary closure of the local wood recycling centre resulted in the last 4 months of the financial year, being a particularly slow trading period.

All Saints Day Nursery

Occupancy has been consistently encouraging throughout this year. It is apparent that the new housing in All Saints has had a positive effect with many of the new nursery children coming from the new housing developments.

In this year speech and language developments had a greater significance on our nursery intake than previous years, with greater numbers of children requiring support in their speech and communication. The isolation that some families experienced during Lockdowns and COVID-19 restrictions has meant that children's ability to speak and socially interact has been impeded.

At year end, the nursery was at 93.5% capacity with an increase in the NEF funded children compared to earlier years. The younger children intake who are part of our TFT (Terrific 4 Two's) programme, fell slightly short of our predicted figures.

We are delighted to report that Phase 1 of the nursery development is now complete with the "yellow brick road" leading to the nursery in use.

Community Support

We were successful in achieving the Power to Change Community Business Renewal Fund, awarded to enable us as a community business to recover from the impact of the pandemic. This was hugely welcome, enabling us to rebuild and stabilise following the trading lows of 2020.

We continued to support the running of the Wednesday gardening club and through regular marketing experiencing new volunteer recruits. The volunteer intake at Wood Saints, which had been severely hit during the previous year, has been now re-established and those that have not returned have been telephoned as part of a welfare check and to receive feedback on how we can encourage them to return to Wood Saints.

Our two ASAN community festivals were reinstated this year and were a great success.

Plans moving forward

At the time of writing, this coming year looks as if it will continue to have significant challenges. The impact of the energy crisis and global events will hit our community and our operations. Our key plans are as follows:

  1. Our funding strategy included improvements in our digital infrastructure, the material benefits we will see in the coming year, primarily in terms of an online shop at WoodSaints and improving the Wifi quality within The Workspace. 2. Phase 2 of the nursery development (The All Saints Family Playground) located in the rear carpark, will commence in the summer of 2022.

  2. Plans to continue with the project to acquire and develop the Porters Lodge as a community heritage hub & café.

  3. To access funding for Community Outreach support, this will be critical in enabling us to build our engagement with our local community.

Public benefit

In setting our objectives and planning our activities the Trustees have considered 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:

Page 3

ALL SAINTS ACTION NETWORK LTD. (REGISTERED NUMBER: 03591314)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

FINANCIAL REVIEW

The Statement of Financial Activities shows a deficit on unrestricted funds for the year of £16,635 (2021: £5,054 surplus) and a deficit on restricted funds of £54,178 (2021: £45,397) representing a net deficit for the year of £70,813 (2021: £40,343). 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 £2,051,413 (2021: £2,122,226), consisting of £437,980 (2021: £454,615) unrestricted funds and £1,613,433 (2021: £1,667,611) of restricted funds.

The balance on unrestricted reserves in the charity is £437,980, which includes £178,838 relating to fixed assets and £140,980 relating to designated funds. Therefore, the balance on free reserves in the charity are £118,162 at 31 March 2022. The balance sheet remains strong with net current assets of £264,880.

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 £118,162 at 31 March 2022 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.

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 4

ALL SAINTS ACTION NETWORK LTD. (REGISTERED NUMBER: 03591314)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 5

ALL SAINTS ACTION NETWORK LTD. (REGISTERED NUMBER: 03591314)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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

Company Secretary

I Karim

Independent Examiner

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

Page 6

ALL SAINTS ACTION NETWORK LTD. (REGISTERED NUMBER: 03591314)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 10 November 2022 and signed on its behalf by:

Mrs M Johnson - Trustee

Page 7

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 2022.

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

  2. 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

  3. 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.

Copia Wealth & Tax Limited

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

10 November 2022

Page 8

ALL SAINTS ACTION NETWORK LTD.

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
Network Support
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
£
80,302
4
190,735
89,363
360,404
14,250
90,095
139,383
133,311
377,039
(16,635)
454,615
437,980		 Restricted
funds
£
-
-
-
-
-
-
54,178
-
-
54,178
(54,178)
1,667,611
1,613,433		 2022
Total
funds
£
80,302
4
190,735
89,363
360,404
14,250
144,273
139,383
133,311
431,217
(70,813)
2,122,226
2,051,413		 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

The notes form part of these financial statements

Page 9

ALL SAINTS ACTION NETWORK LTD. (REGISTERED NUMBER: 03591314)

BALANCE SHEET 31 MARCH 2022

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		 2022
£
1,792,168
1
1,792,169
217,771
94,050
311,821
(46,941)
264,880
2,057,049
(5,636)
2,051,413
297,000
28,204
112,776
437,980
2,918
238,459
1,344,704
102
27,250
1,613,433
2,051,413		 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

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The notes form part of these financial statements

continued...

Page 10

ALL SAINTS ACTION NETWORK LTD. (REGISTERED NUMBER: 03591314)

BALANCE SHEET - continued 31 MARCH 2022

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 10 November 2022 and were signed on its behalf by:

M Johnson - Trustee

J A Gulliford - Trustee

The notes form part of these financial statements

Page 11

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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.

continued...

Page 12

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES - continued

Fund accounting

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.

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

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		 2022
£
30,008
48,500
1,794
80,302
2022
£
79,635
9,728
89,363
2022
£
-
2022
£
-
14,250
14,250
14,250		 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

continued...

Page 13

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

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		 Direct
Costs (see
note 6)
£
5,025
1,653
-
6,678		 Support
costs
£
139,248
137,730
133,311
410,289
2022
£
6,678
2022
£
60,017		 Totals
£
144,273
139,383
133,311
416,967
2021
£
2,587
2021
£
58,829

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

9. STAFF COSTS

2022 2021
£ £
Wages and salaries 341,082 316,277
Social security costs 20,567 16,369
Employers contribution to defined contribution pension schemes 9,003 7,432
370,652 340,078
The average monthly number of employees during the year was as follows:
Direct charitable work
Trading activities
Charity management and administration		 2022
13
5
7
25		 2021
13
5
7
25

continued...

Page 14

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

9. STAFF COSTS - continued

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

The chief executive's earnings for 2021/22 were £44,090.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Nursery
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
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		 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

Page 15

continued...

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

11. TANGIBLE FIXED ASSETS

Freehold
property
£
COST
At 1 April 2021
2,455,996
Additions
-
At 31 March 2022
2,455,996
DEPRECIATION
At 1 April 2021
658,295
Charge for year
49,120
At 31 March 2022
707,415
NET BOOK VALUE
At 31 March 2022
1,748,581
At 31 March 2021
1,797,701
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 April 2021 and 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021		 Improvements
to
property
£
90,691
-
90,691
57,990
5,451
63,441
27,250
32,701		 Fixtures
and
fittings
£
94,077
9,013
103,090
81,394
5,424
86,818
16,272
12,683		 Motor
vehicles
£
3,500
-
3,500
3,413
22
3,435
65
87		 Totals
£
2,644,264
9,013
2,653,277
801,092
60,017
861,109
1,792,168
1,843,172
Shares in
group
undertakings
£
1
1
1

12. FIXED ASSET INVESTMENTS

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 31.3.21
£ £
Aggregate capital and reserves 7,910 8,056
Loss for the year (146) (298)

Page 16

continued...

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade debtors 18,162 12,718
Amounts owed by group undertakings 197,847 155,836
Prepayments and accrued income 1,762 2,517
217,771 171,071
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Trade creditors 15,557 17,735
Social security and other taxes 6,400 10,460
Other creditors 17,078 17,860
Accruals and other creditors 4,665 8,357
Deferred government grants 3,241 6,040
46,941 60,452

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
£
178,838
1
311,718
(46,941)
(5,636)
437,980		 Restricted
funds
£
1,613,330
-
103
-
-
1,613,433		 2022
Total
funds
£
1,792,168
1
311,821
(46,941)
(5,636)
2,051,413		 2021
Total
funds
£
1,843,172
1
357,395
(60,452)
(17,890)
2,122,226

continued...

Page 17

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

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
Workspace Maintenance
Restricted funds
Capital Grants
Advantage West Midlands: (The
Workspace)
Capital Grants; The Workspace
Suez Community Trust
TOTAL FUNDS		 At 1.4.21
£
312,489
28,860
113,266
454,615
6,766
245,349
1,382,693
102
32,701
1,667,611
2,122,226
Incoming
resources
£
360,404
-
-
360,404
-
-
-
-
-
360,404		 Net
movement
in funds
£
(15,489)
(656)
(490)
(16,635)
(3,848)
(6,890)
(37,989)
-
(5,451)
(54,178)
(70,813)
Resources
expended
£
(375,893)
(656)
(490)
(377,039)
(3,848)
(6,890)
(37,989)
(5,451)
(54,178)
(431,217)		 At
31.3.22
£
297,000
28,204
112,776
437,980
2,918
238,459
1,344,704
102
27,250
1,613,433
2,051,413
Movement
in funds
£
(15,489)
(656)
(490)
(16,635)
(3,848)
(6,890)
(37,989)
(5,451)
(54,178)
(70,813)

continued...

Page 18

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.20
£
Unrestricted funds
General fund
306,779
Renewable Energy
29,516
Workspace Maintenance
113,266
449,561
Restricted funds
Capital Grants
1,833
Advantage West Midlands: (The
Workspace)
252,239
Capital Grants; The Workspace
1,420,682
Mike Swain Memorial Fund
102
Suez Community Trust
38,152
1,713,008
TOTAL FUNDS
2,162,569
Comparative net movement in funds, included in the above are as follows:		 Net
movement
in funds
£
5,710
(656)
-
5,054
4,933
(6,890)
(37,989)
-
(5,451)
(45,397)
(40,343)		 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
Unrestricted funds
General fund
Renewable Energy
Restricted funds
Capital Grants
Advantage West Midlands: (The
Workspace)
Capital Grants; The Workspace
Suez Community Trust
TOTAL FUNDS		 Incoming
resources
£
418,118
-
418,118
-
-
-
-
-
418,118		 Resources
Movement
expended
in funds
£
£
(412,408)
5,710
(656)
(656)
(413,064)
5,054
4,933
4,933
(6,890)
(6,890)
(37,989)
(37,989)
(5,451)
(5,451)
(45,397)
(45,397)
(458,461)
(40,343)		 Resources
Movement
expended
in funds
£
£
(412,408)
5,710
(656)
(656)
(413,064)
5,054
4,933
4,933
(6,890)
(6,890)
(37,989)
(37,989)
(5,451)
(5,451)
(45,397)
(45,397)
(458,461)
(40,343)
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 2022

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 2020. This actuarial valuation was certified on 31 December 2021 and showed assets of £153.3m, liabilities of £160m and a deficit of £6.7m. 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

(payable monthly and increasing by ) From 1 April 2022 to 31 May 2024: £1,507,960 per annum 3% each on 1st April

Some employers have agreed concessions (both past and present) with the Trustee and have contributions up to 29 February 2028.

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 2017. This valuation showed assets of £120m, liabilities of £145.9m and a deficit of £25.9m. 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 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 recovery plan contributions are allocated to each participating employer in line with their estimated share of the scheme liabilities.

continued...

Page 20

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

18. EMPLOYEE BENEFIT OBLIGATIONS - continued

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

PRESENT VALUES OF PROVISION

31 March 2022 31 March 2021 31 March 2020
(£s) (£s) (£s)
Present value of provision 5,636 17,890 19,643
RECONCILIATION OF OPENING AND CLOSING PROVISIONS
Period Ending Period Ending
31 March 2022 31 March 2021
(£s) (£s)
Provision at start of period 17,890 19,643
Unwinding of the discount factor (interest
expense)		 141 462
Deficit contribution paid (3,111) (3,020)
Remeasurements - impact of any change in
assumptions		 (84) 805
Remeasurements - amendments to the
contribution schedule		 (9,200)
Provision at end of period 5,636 17,890

INCOME AND EXPENDITURE IMPACT

Period Ending Period Ending
31 March 2022 31 March 2021
(£s) (£s)
Interest expense 141 462
Remeasurements - impact of any change in assumptions (84) 805
Remeasurements - amendments to the contribution schedule (9,200)
Contributions paid in respect of future service - -
Costs recognised in income and expenditure account - -

continued...

Page 21

ALL SAINTS ACTION NETWORK LTD.

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

18. EMPLOYEE BENEFIT OBLIGATIONS - continued

*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

31 March 2022 31 March 2021 31 March 2020
% per annum % per annum % per annum
Rate of discount 2.30 0.86 2.57

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 2022.

Page 22

Issuer

Copia Wealth & Tax

Document generated Tue, 15th Nov 2022 17:49:21 UTC Document fingerprint 056017c3c73ea8d2b9cf2b9fca1063cc

Parties involved with this document

Document processed

Party + Fingerprint

Thu, 17th Nov 2022 13:20:28 UTC Thu, 17th Nov 2022 15:39:01 UTC Thu, 17th Nov 2022 16:40:16 UTC Thu, 17th Nov 2022 16:40:16 UTC

Mr James Andrew Gulliford - Signer (a15afcfeae94402e8cbe34a2ceaf8420) Mrs Maureen Johnson - Signer (19b52588cdf6f01bf1cfc3ab732d318c) Shaun Philpott - Signer (255fad214fbee1874aa5f199e07a140d) Anil Mandair - Copied In (28d5d5a9108b47ecc940bd4f3a7ab847)

Audit history log

Date Action Thu, 17th Nov 2022 16:40:20 UTC Shaun Philpott viewed the envelope. (109.73.121.1) Thu, 17th Nov 2022 16:40:18 UTC Document emailed to party email (35.178.145.125) Thu, 17th Nov 2022 16:40:16 UTC The envelope has been signed by all parties. (109.73.121.1) Thu, 17th Nov 2022 16:40:16 UTC Sent a copy of the envelope to Anil Mandair (anil@copiawealthandtax.co.uk). (109.73.121.1) Thu, 17th Nov 2022 16:40:16 UTC Shaun Philpott signed the envelope. (109.73.121.1) Thu, 17th Nov 2022 16:37:22 UTC Shaun Philpott viewed the envelope. (109.73.121.1) Thu, 17th Nov 2022 15:39:03 UTC Mrs Maureen Johnson viewed the envelope. (213.205.242.144) Thu, 17th Nov 2022 15:39:02 UTC Document emailed to party email (3.8.167.154) Thu, 17th Nov 2022 15:39:01 UTC Sent the envelope to Shaun Philpott for signing. (213.205.242.144) Thu, 17th Nov 2022 15:39:01 UTC Mrs Maureen Johnson signed the envelope. (213.205.242.144) Thu, 17th Nov 2022 15:37:06 UTC Mrs Maureen Johnson viewed the envelope. (213.205.242.144) Thu, 17th Nov 2022 13:20:56 UTC Mr James Andrew Gulliford viewed the envelope. (81.78.240.235) Thu, 17th Nov 2022 13:20:29 UTC Mr James Andrew Gulliford viewed the envelope. (81.78.240.235) Thu, 17th Nov 2022 13:20:28 UTC Document emailed to party email (18.132.192.136) Thu, 17th Nov 2022 13:20:28 UTC Sent the envelope to Mrs Maureen Johnson for signing. (81.78.240.235) Thu, 17th Nov 2022 13:20:28 UTC Mr James Andrew Gulliford signed the envelope. (81.78.240.235) Thu, 17th Nov 2022 13:19:19 UTC Mr James Andrew Gulliford viewed the envelope. (81.78.240.235)

Thu, 17th Nov 2022 13:11:07 UTC

Sent Mr James Andrew Gulliford a reminder to sign the document.

Tue, 15th Nov 2022 17:49:32 UTC Tue, 15th Nov 2022 17:49:23 UTC

Tue, 15th Nov 2022 17:49:23 UTC Tue, 15th Nov 2022 17:49:23 UTC Tue, 15th Nov 2022 17:49:23 UTC

Tue, 15th Nov 2022 17:49:23 UTC

Tue, 15th Nov 2022 17:49:23 UTC Tue, 15th Nov 2022 17:49:23 UTC

Tue, 15th Nov 2022 17:49:23 UTC

(35.176.231.177) Document emailed to party email (35.178.168.129) Sent the envelope to Mr James Andrew Gulliford for signing. (18.133.195.144) Anil Mandair has been assigned to this envelope. (18.133.195.144) Shaun Philpott has been assigned to this envelope. (18.133.195.144) Mrs Maureen Johnson has been assigned to this envelope. (18.133.195.144)

Mr James Andrew Gulliford has been assigned to this envelope. (18.133.195.144) Envelope generated. (18.133.195.144)

Document generated with fingerprint 2882b87a5adc213199a8611ff7fb9a4f. (18.133.195.144) Document generated with fingerprint

056017c3c73ea8d2b9cf2b9fca1063cc. (18.133.195.144) Tue, 15th Nov 2022 17:49:21 UTC Envelope generated with fingerprint e1751d44e108f757ffd7647b71947d16 (18.133.63.166)