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← Somerset Youth Volunteering Network

2024-03-31-accounts

SOMERSET YOUTH VOLUNTEERING NETWORK

(a company limited by guarantee)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024

COMPANY NUMBER 3807870

CHARITY NUMBER 1096507

SOMERSET YOUTH VOLUNTEERING NETWORK FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024

CONTENTS
Pages
Report of the Trustees 1 - 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 - 14

SOMERSET YOUTH VOLUNTEERING NETWORK

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31[st] MARCH 2024

OBJECTS OF THE CHARITY, ITS ACTIVITIES, ACHIEVEMENTS and PERDORMANCE

The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

The objects of the charity are the advancement of education, the protection of health and the relief of poverty, distress and sickness through the promotion of voluntary services, particularly by young people.

The objectives of Somerset Youth Volunteering Network are as follows:

We currently do this through;

1

Achievements

Overview of the work of the charity

The landscape of our charity continues to has evolve as we align our focus more closely with the needs of our local community. This report covers the period April 2023 to April 2024, during which we have move towards prioritising local community needs while maintaining our commitment to supporting vulnerable individuals.

Strengthening Community Engagement

Out flagship “Growing Happiness” community allotments project has gone from strength to strength, winning both local and national awards. Situated in one of the most deprived communities in England, our Glastonbury These accolades reflect not just excellence in gardening but also our success in fostering inclusivity and supporting disabled individuals to become active members of the community. This program exemplifies how we are meeting local needs by combining therapeutic activities with community building.

While financial challenges remain significant, with funding still less than 20% of its level six years ago, we have made substantial efforts to address these obstacles. The Board of Trustees has taken proactive steps to expand its membership, bringing in new expertise to support the day-to-day running of the charity and strengthen our capacity to secure funding.

Responding to Community Needs

Our Glastonbury centre remains a critical hub for addressing local challenges. We continue to tackle the closure of nearby services by adopting a flexible, "open door" approach, providing help to individuals who often cannot access other support due to stricter eligibility criteria. Despite these hurdles, we now assist around 100 individuals monthly, reflecting an increase in both reach and impact compared to previous years.

Key Themes and Activities

To further our charitable purposes, we have focused on the following key themes over the past year:

2

Notable Initiatives

Looking Ahead

As we move forward, our focus remains steadfast on addressing local community needs and supporting those most in need. We are committed to expanding our reach, strengthening our programs, and fostering a sense of belonging and resilience within our community. Our dedicated team of trustees, staff, and volunteers will continue to work tirelessly to ensure that The Volunteer Network remains a vital resource for Glastonbury and the surrounding areas.

3

FINANCIAL REVIEW

Trustees’ responsibilities in relation to financial statements

Company law requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the Company’s state of affairs at the end of the financial year and of its income and expenditure for that year. In preparing those financial statements the Trustees are required to;

• Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue in business The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charitable Company and to enable them to ensure that the financial statements comply with the Companies Act 2006.

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

Review of Financial Position

This year has seen continuing financial challenges. The continued reductions in available funding for working with young people in the community has meant that we have not been able to expand our services and subsequent income generation as we would have liked.

During the year, the Charity incurred total expenditure of £112,176, £109,856 of which was directly charitable.

Over the year, the Charity received income of £68,369 leading to an overall deficit of £43,807 The Balance sheet shows total reserves at 31[st] March of £ 67,527.

Reserves Policy and Risk Management

It is the intention of the Trustees that the freely available reserves of the charity should be sufficient to ensure the continuance of its activities, should there be an unexpected short-term adverse fluctuation in income. The Trustees consider that an appropriate level of free reserves is approximately 6 months running costs at current levels to be held in low risk investments such as bank deposits. The Trustees

4

are satisfied that the long-term financial plans generate sufficient free reserves over the coming 12 months.

The Trustees have examined and addressed the financial risks to which the Charity is exposed and in association with its insurers, has mitigated those risks to the best of its ability.

STRUCTURE, GOVERNANCE and MANAGEMENT

The Charity was incorporated on the 25[th] March 2002 as a Company Limited by Guarantee. It is governed by its Memorandum and Articles of Association. The Charity registered with the Charity Commission on 13[th] March 2003.

The Directors of the charitable company (“the charity”) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. The Board meets at least four times a year.

The Board of Trustees is responsible for determining the overall policy direction of the charity, for fixing and reviewing its annual budget, and for approving annual accounts. The Director is responsible for day to day management in accordance with determined policies.

5

REFERENCE and ADMINISTRATIVE DETAILS

The full name of the Charity is Somerset Youth Volunteering Network. Charity number 1096507, Company number 3807870.

The registered office is 9 Silver Street, Glastonbury, Somerset, BA6 8BS.

Directors and Trustees

The directors of the charitable company (“the charity”) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

The trustees who served during the period and up to the date the accounts were approved are as follows:

Mr A Thompson

Ms Victoria Stone (resigned 28/2/2024)

Ms A Schneider

Mr Kevin Chalmers (appointed 28/2/2024)

Ms Jayne Roberts (appointed 13/2/2024)

Mr David Greg (appointed 13/2/2024)

Mr Peter Munday (appointed 13/2/2024)

Mr David John Whitt (appointed 13/2/2024

The bankers are;

CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ

The Independent Examiner is Tim Green FCMA

6

Trvstee ,71,, Date

SOMERSET YOUTH VOLUNTEERING NETWORK INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES

I report on the accounts of the company for the year ended 31[st] March 2024 which are set out on pages 8 to 14

RESPECTIVE REPONSIBILITIES OF TRUSTEES AND EXAMINER

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to;

BASIS OF INDEPENDENT EXAMINER’s REPORT

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes a consideration of any unusual issues or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requirements

No other matter has come to my attention in accordance with my examination to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Timothy Green FCMA

Date: 16[th] December 2024

8

SOMERSET YOUTH VOLUNTEERING NETWORK STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31st MARCH 2024 (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)

Notes Unrestricted Restricted 2024 2023
£ £ £ £
INCOME & ENDOWMENTS FROM;
Donations & Legacies 2 & 3 8,030 - 8,030 5,100
Charitable Activities 4 42,746 16,430 59,176 46,114
Other Trading 5 - - - -
Investments 1,163 - 1,163 771
Other Income - - - -
TOTAL INCOME & ENDOWMENTS 51,939 16,430 68,369 51,985
EXPENDITURE ON;
Raising Funds 6 2,320 - 2,320 4,507
Charitable Activities 7 & 8 93,426 16,430 109,856 116,386
Other Expenditure - - - 4,581
TOTAL EXPENDITURE 95,746 16,430 112,176 125,474
NET EXPENDITURE BEFORE TRANSFERS (43,807) - (43,807) (73,489)
Gross Transfers between funds - - - -
NET MOVEMENT IN FUNDS (43,807) - (43,807) (73,489)
TOTAL FUNDS BROUGHT FORWARDS 111,334 - 111,334 184,823
TOTAL FUNDS CARRIED FORWARDS 11 67,527 - 67,527 111,334

All activities derive from continuing operations

The notes on pages 11 to 14 form part of the financial statements

9

SOMERSET YOUTH VOLUNTEERING NETWORK BALANCE SHEET AS AT 31st MARCH 2024

Notes 2024 2023
£ £ £ £
FIXED ASSETS
Tangible Assets 12 1,813 2,417
CURRENT ASSETS
Debtors 13 7,559 14,487
Cash at bank and in hand 63,287 102,576
70,846 117,063
CREDITORS
Amounts falling due within one year 14 5,132 8,146
NET CURRENT ASSETS 65,714 108,917
NET ASSETS 67,527 111,334
FUNDS
Unrestricted funds 67,527 111,334
Restricted funds - -
TOTAL FUNDS 67,527 111,334

The accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies, and with the Financial Reporting Standard 102

The company has taken advantage of the exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024

The members have not required the company to obtain an audit for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for;

ensuring that the company keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006; and

preparing Accounts which give a true and fair view of the state of the company’s affairs at the end of the financial year and of its surplus or deficit for the year in accordance with the requirement of Section 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

These accounts were approved by the trustees on and signed on their behalf by:

Trustee
mance
Date		 le

The notes on pages 11 to 14 form part of these accounts

10

SOMERSET YOUTH VOLUNTEERING NETWORK NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31st MARCH 2024

1 Accounting Policies

The financial statements have been prepared under the historical cost convention and following the Statement of Recommended Practice for Charities and are in accordance with the Financial Reporting Standard 102 (effective January 2015 and updated by Bulletin 1 effective February 2016) and the Companies Act 2006

a Going Concern

The accounts have been prepared on the going concern basis. There are no material uncertainties about the Charity's ability to continue.

b The Charity

Tha Charity is a public benefit entity.

c Income

Income from donations, grants and subscriptions is taken to the Statement of Financial Activity on receipt unless there is a Service Level Agreement or Contract in which case it is taken into account in the period to which it relates.

d Resources Expended

Resources expended are accounted for on an accruals basis. Costs are allocated on the basis of usage on each project..

e Operating Leases

The costs of operating leases are charged as they accrue.

f Tangible Fixed Assets

Depreciation is provided on tangible fixed assetst at the following annual rates in order to write off each asset over its estimated useful life;

Motor Vehicles 25% reducing balance Fixtures & Fittings 25% reducing balance Office Equipment 25% - 33% reducing balance

g Funds

Fund designations are formally approved and minuted by the Trustees. Separate accounting records are kept for restricted funds.

11

SOMERSET YOUTH VOLUNTEERING NETWORK NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31st MARCH 2024

2
Income from Donations & Legacies
Donations
Unrestricted Grants
Restricted Grants
3
Analysis of Donations
Monatary Donations
4
Income from Charitable Activities
Fee for Service
Education & Training
DWP Support
Other
5
Income from Other Trading
Room Hire & Rent
Fundraising Activities
Other Traiding		 2024
2023
£
£
4,130
2,749
3,900
2,351
-
-
8,030
5,100
2024
2023
£
£
4,130
2,749
4,130
2,749
Fee for
Restricted
Total
Total
Service
Grant
2024
2023
£
£
£
£
16,067
16,430
32,497
23,938
26,679
-
26,679
22,176
-
-
-
-		 2024
2023
£
£
4,130
2,749
3,900
2,351
-
-
8,030
5,100
2024
2023
£
£
4,130
2,749
4,130
2,749
42,746
16,430		 59,176
46,114
2024
2023
£
£
-
-
-
-
-
-
-
-
6
Expenditure on Raising Funds
Raising Funds
7
Expenditure on Charitable Activities
Education & Training
DWP Support
8
Allocation of Support Costs
Education & Training
DWP Support
Other Trading
Raising Funds		 Direct
Support
Total
Costs
Costs
2024
£
£
£
2,041
279
2,320
2,041
279
2,320
Direct
Support
Total
Costs
Costs
2024
£
£
£
75,763
7,414
83,177
20,871
5,808
26,679
96,634
13,222
109,856
Office
Other
Total
Costs
Costs
2024
£
£
£
6,913
501
7,414
5,415
393
5,808
-
-
-
260
19
279
12,588
913
13,501

Office Costs have been allocated based on usage Other Costs on the basis of Direct Costs

12

SOMERSET YOUTH VOLUNTEERING NETWORK NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31st MARCH 2024

9 Trustees Remuneration & Benefits

During the year no trustees were reimbursed any expenses (2022 - £0)

There were no related party transactions with trustees in the year

10 Independent Examination

The independent examiner was paid £900 to prepare and examine these accounts

11 Staff Costs

Wages & Salaries
Social Security Payments
Employer Pension Contributions		 2024
2023
£
£
89,586
98,872
3,600
4,378
2,350
2,694
95,536
105,944

The average number of employees during the year was 4 (2023 - 5) No employee received remuneration of over £60,000

12 Tangible Fixed Assets

Cost
As at 1st April 2023
Additions
Disposals
As at 31st March 2024
Depreciation
As at 1st April 2023
Charge for the period
Disposals
As at 31st March 2024
Net Book Value
As at 1st April 2023
As at 31st March 2024
13
Debtors
Trade Debtors
Prepayments & Accrued Income
14
Creditors
Trade Creditors
Accruals
PAYE/NI
Other Creditors		 Motor
Fixtures &
Vehicles
Fittings
13,925
8,548
-
-
-
-		 Office
Equpiment
Total
£
£
18,070
40,543
-
-
-
-
13,925
8,548		 18,070
40,543
13,788
8,234
34
79
-
-		 16,104
38,126
491
604
-
-
13,822
8,313		 16,595
38,730
137
314		 1,966
2,417
103
235		 1,475
1,813
2024
2023
£
£
989
3,110
6,570
11,377
7,559
14,487
2024
2023
£
£
516
848
2,161
3,143
1,928
2,056
527
2,099
5,132
8,146

13

SOMERSET YOUTH VOLUNTEERING NETWORK NOTES TO THE ACCOUNTS

FOR THE YEAR ENDING 31st MARCH 2024

15 Fund Accounts

Unrestricted Funds
Restricted Funds
Glastonbury Town Council - Growing Happiness
Community Foundation - Growing Happiness
Community Foundation - Cost of Living Crisis
National Grid - Warm Space
Total Restricted Funds
Total Funds		 Opening
Incoming
Resources
Closing
Balance
Resources
Expended
Transfers
Balance
£
£
£
£
£
111,334
51,939
95,746
-
67,527
-
-
-
-
-
-
2,500
2,500
-
-
-
4,000
4,000
-
-
-
9,930
9,930
-
-
-
16,430
16,430
-
-
111,334
68,369
112,176
-
67,527
Fixed Assets
Tangible Assets
Current Assets
Debtors
Bank
Current Liabilities
Creditors
Net Current Assets
Net Assets		 Unrestricted
Restricted
2023
2022
£
£
£
£
1,813
-
1,813
1,612
7,559
-
7,559
14,487
63,287
-
63,287
102,576
70,846
-
70,846
117,063
5,132
-
5,132
8,146
65,714
-
65,714
108,917
67,527
-
67,527
110,529

16 Members' Liability

The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. As at the 31st March 2024 there were 100 members.

17 Controlling entity

The charity is controlled by the trustees who are all directors of the company.

14

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