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2023-03-31-accounts

Registered number: 04958843 Charity number: 1101450

South Derbyshire CVS

Trustees' report and financial statements

For the year ended 31 March 2023

South Derbyshire CVS

(A company limited by guarantee)

Contents

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Chair's statement 2
Trustees' report 3 - 14
Independent auditor's report on the financial statements 15 - 18
Statement of financial activities 19
Balance sheet 20
Statement of cash flows 21
Notes to the financial statements 22 - 42

South Derbyshire CVS

(A company limited by guarantee)

Reference and administrative details of the Charity, its Trustees and advisers For the year ended 31 March 2023

Trustees S P Spear, Chair (resigned 3 August 2022)
H M Scott-South, Chair (from 3 August 2022)
K Parkinson, Treasurer
S Jackson
A M Jones (resigned 10 May 2023)
J P Beaty (resigned 1 September 2022)
A P Dawson (resigned 5 September 2022)
K Downs (appointed 12 September 2022)
M Mythen
Z Gillbe
D Holland
D Ripley (appointed 16 January 2023)
Company registered
number
04958843
Charity registered
number
1101450
Registered office
The Hive Top Floor
Unit G Sharpes Estate
Alexandra Road
Swadlincote
Derbyshire
DE11 9AZ
Chief executive officer
Hollie Benton
Independent auditor
Dains Audit Limited
15 Colmore Row
Birmingham
B3 2BH
Bankers
Unity Trust Bank Plc
9 Brindley Place
Birmingham
B1 2HB
Solicitors
Ellis-Fermor & Negus
2 Devonshire Ave
Beeston
Nottingham
NG9 1BS

Page 1

South Derbyshire CVS (A company limited by guarantee)

Chair's statement For the year ended 31 March 2023

The chair presents her statement for the year.

Like many charities across the UK, South Derbyshire CVS has continued to see a significant increase in the demand for its services, even though the demands of Covid are now behind us. For so many people and particularly users of our services, the impact following Covid and now the significant financial challenges people face has meant that people need and value our services even more.

There have been changes again this year in our leadership. After four years at the helm, Roger Moors our CEO decided to step down in March and reduce his work commitments. The trustees agreed that we would make an interim CEO appointment internally.

I am very pleased to say that we appointed Hollie Benton to the post at the beginning of April 2023. The reason for the decision not to go out for the substantive CEO was driven by our desire to look at opportunities for partnerships within the county to make our organisation even stronger, more resilient, and give us greater ability to provide support to the people we serve. This work is ongoing.

This year saw us moving into our new facility called The Hive which is situated in the Sharpes estate. This is a wonderful building with easy access for the users of our services. We have an expanded food bank and some exceptional teaching and training facilities. We are very excited by the opportunity this gives us to provide training for our staff, volunteers and other organisations. In doing this, we are able to bring new income sources into our organisation to support the ongoing development of our charity.

This year, the trustees and I have focused on supporting the management team and our staff in developing a strategy for our organisation. The highlights of this you will see within our report.

I believe that the work we have done through this process has brought the Board much closer to our staff, and therefore feel confident that the strategy represents the views of the people who are closest to the users of our services. The strategy is now the bedrock of the work at the Board. This year has seen a significant strengthening of our governance arrangements through the Board and the subcommittees. I would like to pay tribute to Kevin Parkinson, who chairs, the finance and performance committee, Margaret Mythen, who chairs, the HR committee, and to Zoe Gillbe who chairs the risk committee and is also the deputy chair. Each group has given significant time, guidance and support to the management team, and I am very grateful for the support, skill and enthusiasm shown by them and members of the committees.

Finally, I would like to thank all our staff, the leadership team, and our volunteers for their exceptional work, and the dedication that they give on a daily basis to the users of our services here in South Derbyshire, and within the wider community. They really do make a difference.

I do hope you enjoy reading this report and I look forward to seeing you at our AGM in November.

_________ H M Scott-South Chair

Date: 18 September 2023

Page 2

South Derbyshire CVS (A company limited by guarantee)

Trustees' report For the year ended 31 March 2023

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2022 to 31 March 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

The charity’s objects, as defined in its governing document, are:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

The charity has a strategic plan, agreed by its Board of Trustees, which sets out its vision, aims and priorities, and outlines planned activity to achieve these aims.

Our vision is for healthy, connected, thriving communities. SDCVS is committed to improving health and wellbeing outcomes by:

Page 3

South Derbyshire CVS

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Objectives and activities (continued)

c. Activities undertaken to achieve objectives

Our activities deliver the public benefit requirement in the following ways:

Our first charitable object has two main beneficiaries: individuals who use our direct services; and voluntary and community groups (and, indirectly, their beneficiaries). Through the services we directly provide to individual beneficiaries, we relieve poverty, distress and ill health, advance education, improve health outcomes, and/or deliver other charitable purposes. For example:

We benefit a wider range of beneficiaries through our support to local voluntary and community groups, volunteering and an asset based community development approach to working with local communities. Through this area of activity:

Through delivery of our second charitable object (to promote and organise co operation) there is a wider benefit, enabling voluntary and community organisations working across the whole range of charitable objects to inform and influence the development and delivery of public services.

Eligibility for some services may be limited to, or priority given to, a defined group of people (e.g., those of a certain age, disability, or financial circumstances or those living in a particular geographical area). This might be a condition of funding and/or because the purpose of the service is to mitigate a disadvantage experienced by that particular group. Other than this, services are offered in line with our equality and diversity policy to all eligible sectors of the community.

Most of our services to individuals and voluntary organisations are free or subsidised. We actively encourage the contribution of volunteers who freely give their time to support and deliver activities. We recognise that inability to pay can be a barrier to those in most need of services. Where we do need to charge for services, because they are not otherwise funded, charges are kept at the minimum needed to cover our delivery costs.

Page 4

South Derbyshire CVS (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Objectives and activities (continued)

The public benefits identified above are evidenced through:

We have not identified any private benefits other than those incidental to the furtherance of our charitable purposes. Nor have we identified any harm arising from our purposes.

Achievements and performance

a. Review of activities

lThe Foodbank continued to experience unprecedented levels of demand during the period, as the UK continued to navigate the aftermath of a pandemic, before an exceptionally difficult period of increased living costs which look set to remain for 23/24.

Supported by generous donations of food and funds, our thanks go to local residents, groups, schools, faithbased organisations, clubs, parish councils and businesses, all of whom contributed.

We would also like to thank to a number of leading national supermarkets who provide amazing support both through their kind donations and local liaison officers. The efforts of our supermarket colleagues saw donation generating events which made local news due to their eye catching & innovative planning.

Individuals and families referred to us by local agencies continued to receive a supply of basic food, appropriate to their needs and which typically lasts up to three days. Our Food Bank provision is supported by an experienced team of Volunteers who provide a high-quality service and ensure that service users can access this with dignity. Where donations allowed, we were able to provide families with ad-hoc seasonal extras such as chocolate selection boxes over the festive December period. Seemingly minor items like this really do have an impact, at a time where those experiencing inequality can feel further disconnected from a period of the year often seen as a time for luxury.

The increased demand for support was in part due to a broader cross section of the community experiencing inequality and poverty. We typically expect to see higher demand in the winter months, which was the case, however the level and complexity of need was compounded by an energy crisis which for many people was an incredibly distressing time.

From April 22 – March 23, 1331 food parcels were issued, which supported 1698 adults and 1195 children. SDCVS provided South Derbyshire residents with 26037 meals. Our analysis shows that 3% population of South Derbyshire, and 8% of the population in Swadlincote accessed this service.

This period welcomed additional support for those accessing the Food Bank, through the RAFT project (Reassurance, advice and food together) which was provided in partnership with Citizens Advice Mid-Mercia. This co-located service, provided timely advice to those in distress, focused on improving financial outcomes relating to benefit entitlement and review of energy costs. Between November 2022 and March 2023, 87 clients were supported with Income gains amounting to £114,936.

The Safer Homes service was delivered across South Derbyshire and Erewash, which offered home safety checks and advice together with the installation of safety measures such as window locks and door chains.

Page 5

South Derbyshire CVS (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Achievements and performance (continued)

This service is provided to older and vulnerable residents, aiming to prevent crime and provide reassurance, as well as responding to situations within which people have unfortunately been the victim of break-ins.

During the period we provided a total of 466 visits, 281 within South Derbyshire and 185 in Erewash.

Our Handy Person service really gained momentum in this period. working closely with the Safer Homes Team.

The Handy Person Support service is available to t eligible private sector owners who have a vulnerability, helping them to retain their independence at own home, prevent hospital admission and support timely hospital discharge.

Our Handy Person Operative will supply and fit a range of free physical adaptions and low-level improvements such as:

  1. Installation of grab rails and other aids

  2. Installation of key safes

  3. Minor home repairs

  4. Eliminating fall risks (carpet trips, changing light bulbs, fixing curtain poles/tracks, putting up shelves and pictures etc.)

The service works holistically, with an advisory role on hand to offer information alongside the practical support that is provider. This might include for example, referrals to Befriending Services, signposting to the CAB for benefit entitlement or access to local social activities.

320 people were supported in the last year, 68% with a long-term disability (2022/23). 102 key safes were fitted during this time, which we know can provide peace of mind as well as enabling timely Hospital discharge.

The Active Travel service continued to provide transport for people in South Derbyshire and Derbyshire Dales, supporting them to access medical appointments at GP surgeries and Hospitals as well as ensuring that people have access to prescriptions and essential shopping items.

The service supports people who can’t use public transport and don’t have access to other forms of transport.

This service is delivered in the main by volunteer drivers using their own vehicles, with a local transport provider being on hand for those people who need a wheelchair accessible vehicle. The impact of the Pandemic was still felt within this service and was seen in the smaller number of volunteers available compared to pre-2020.

During the year and together with our delivery partners of Connex and Ashbourne Community Transport the service provided 1222 medical journeys, 8 vaccination journeys and 104 medical collections. We also saw 596 Shopping trips take place within the period.

Our ‘Connect Befriending’ service continued to offer vital support to people experiencing loneliness and isolation, through a combination of telephone calls and home visits.

A total of 100 people received regular 1 2 1 befriending support courtesy of the time kindly provided by 40 volunteers. They did this through 705 home visits and 1,495 telephone calls. In addition to the befriender volunteers support, the Befriending Coordinator helped support people through signposting and referring to other services with help with housing issues, debt advice, contacting and liaising with external services such as Adult Care and GP surgeries. The Befriending Coordinator also supports befriendees with finding transport or other support from community groups. The support is provided for as long as the befriendee needs.

The number of befrienders that were registered with the service has fluctuated throughout the year and reduced from 50 to 40, with the cost of living and health issues continuing to impact on people’s lives. This was raised at local level through forums and partnership meetings with all services and agencies exploring how to address this issue.

Page 6

South Derbyshire CVS (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Achievements and performance (continued)

We saw more clearly than ever, how the impact of isolation contributes to poorer health outcomes, both physically and mentally, a message which we have been sharing with our partners.

2022 saw us welcome a new team to SDCVS, having previously been employed by South Derbyshire Mental Health Association. The skilled and experienced staff quickly became embedded in our Direct Services Team and through review, planning and a robust communication plan, successfully retained a supporting relationship with 55 service users. The Team took their work out into the community and began work on developing a service offer of group and 1:1 support, as part of the ‘Mental Wellbeing Support Team’. 106 people were supported, through 164 support calls, 106 home visits, 272 texts and emails to service users and 48 onward signposting.

This period saw SDCVS continue to do vital work through the Home from Hospital service, a county wide offer offering preventative and proactive support to those at risk of being admitted to Hospital or who are due to be discharged from Hospital.

With pressures continuing to rise for the NHS, the Derbyshire Home from Hospital proved once again to be one of the most impactful services we deliver. As contract holders for the whole county, we subcontract to other providers across Derbyshire whilst delivering ourselves in South Derbyshire.

The support we offer includes:

Across the county, 826 people were supported this year with 44% of the referrals being made by from hospitals. As well as support provided by staff, Volunteers provided 564 hours of support for 124 people. An average of 84% of the Service users remained in their own home following support from the service which we know has had positive impact on local NHS provision.

We were delighted to secure a contract for Derbyshire Time Swap, with mobilisation work starting in November 2022. This is a county wide service (excluding Derby City & Chesterfield) with locally based development officers and central administration function.

Time Swapping (or Time Banking) is a fantastic initiative which allows members of the community to ‘swap’ their time to help somebody else. This support can range from assistance with gardening, to teaching I.T skills, or giving cookery lessons - the sky is the limit!

In return for this, a member of the community earns back time which they can spend doing something they want to - like learning a new skill or receiving help from another member. Members can even donate time they have accrued to other members if they wish. Time is the only currency used.

A robust plan was devised, and we began executing this in Q4 of the period, welcoming 5 new staff to the organisation, to form our Time Swap team.

Working closely with Derbyshire County Council who had previously delivered this service, we engaged with transferring members and co-produced a dynamic recruitment day exercise.

The team were inducted and trained in January, with a service launch planned for April 23. This service is a huge asset to our Organisation, the sector and the residents of Derbyshire.

Page 7

South Derbyshire CVS (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Achievements and performance (continued)

Our Community Development Team maintained its strong foundations in infrastructure support, providing services to supporting existing voluntary and community groups and helping new groups to set up and develop. This support looks at structure, governance, and funding for smaller organisations, recognising that sustainable outcomes are best achieved by communities themselves. We know that local community-based groups are experts in their own areas and by building the capacity of the voluntary sector, we aim to support the development of thriving communities, who can help themselves, but who are also well informed and know when statutory support is required.

The team provide workshops and training, undertake research and act as conduit for a vast exchange of information across the sector within South Derbyshire, championing the VCSE sector within strategic conversations and local forums.

The team have a vast range of skills, with specialisms in social connectedness, funding, community development and volunteer force management.

Achievements during this period:

Page 8

South Derbyshire CVS

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Achievements and performance (continued)

We continued our role of managing South Derbyshire Volunteer Force, with the latter part of the period focussing on rebranding and expanding the potential of this, not only for our services but also for the vast number of other organisations that we support through volunteer brokerage.

In the year 130 organisations used the Volunteer Centre Services and 178 volunteers used our volunteer centre brokerage services to find volunteering. Numbers have reduced this year after the spike in volunteering seen to support during Covid and with vaccination centres.

The organisation completed relocation within the period, with internal work to the building being completed between October 22 to February 2023 within which a phased return to the office environment took place for staff.

Staff work in a hybrid way, with ‘The Hive’ being a meeting point for service users on a 1:1 and group basis, partnership meetings and the location for Training & Development delivery. We provide room hire for other organisations for community work and training delivery.

The food bank now operates from the Hive, providing service users an accessible yet discreet service.

We have increased our workforce within this period, strengthening our core functions and management team in preparation for our growth ambitions.

Page 9

South Derbyshire CVS (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing financial statements.

b. Reserves policy

The trustees set a reserves policy which requires:

The calculation of the required level of reserves is an integral part of the organisations planning, budget and forecast cycle.

The Trustees have reviewed the possible costs of winding up and redundancies if CVS should fail. The total potential statutory redundancy pay liability is calculated at £73,841 based on current staffing levels, with anticipated winding up costs of £27,393, so a designated reserve totalling £101,234 is allocated for this eventuality.

On 8 August 2022, the charity completed the sale of its freehold property for proceeds of £335,000, generating a surplus on disposal of £234,168, as shown in note 8. These proceeds have been ringfenced for reinvestment in new roles and other costs over the next two years, with £265,413 remaining unspent at the year-end.

Unrestricted funds tied up in fixed assets of £17,586 must also be ringfenced.

After these funds have been designated accordingly, as shown in note 20, the Charity is left with free reserves of £123,301 at 31 March 2023, which is less than the target set of £200k (3 months operational costs) and less than it held at the beginning of the financial year (£168,310).

SDCVS will aim to restore the reserves to between 25-30% of expenditure over the next four years. This could be achieved by increased fundraising, increasing earned income or reducing expenditure in line with positive operational management. The reserves policy will be reviewed annually in line with our budget and annual accounts.

c. Principal funding

The principal funding sources for the organisation are the Derbyshire ICB, South Derbyshire District Council and Derbyshire County Council.

Page 10

South Derbyshire CVS (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Structure, governance and management

a. Constitution

The charitable company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 10 November 2003 and registered as a charity on 12 January 2004 with registered charity number 1101450. The charity 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 charitable company being wound up, the members are required to contribute an amount not exceeding £1.

b. Methods of appointment or election of Trustees

The management of the charitable company is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

The directors of the company are also charity trustees for the purpose of charity law and under the Articles of Association are known as directors. Under the requirements of the Memorandum and Articles of Association one third of the directors must retire at each annual general meeting. They are eligible for re-election.

The organisation strives to ensure the diversity of its beneficiaries is reflected within the membership of the board and that directors have the relevant business and practical experience required. Recruitment of the directors is achieved by a variety of methods, including a direct approach, where the need for specific skills has been identified, to an invitation to members to nominate a candidate.

c. Organisational structure and decision-making policies

South Derbyshire CVS has a board of Trustees which can have up to 15 voting members. Some funders also nominate non voting representatives to attend Board meetings. The Board meets every two months and is responsible for the strategic direction and policy of the organisation. The organisation also operates finance & performance, human resources, and risk committees’ that are subgroups of the Trustee Board. These groups meet every month or as required to deal with financial or human resource issues. The CEO attends meetings of these subcommittee groups but without voting rights.

The day to day responsibility of running the organisation lies with the Chief Executive with a team of managers responsible for the delivery of specific services, including the line management of frontline staff and volunteers.

The Finance and Admin Manager overseas the day-to-day financial operation. The Chief Executive is responsible for overseeing the staff development programme, and the achievement and maintenance of quality standards within the organisation, supported by the Head of Operations. The Community Development Manager is responsible for ensuring the delivery of CVS and Volunteer Centre core functions. The Direct Services Manager and Education & Training Manager have responsibly for their respective service areas.

d. Policies adopted for the induction and training of Trustees

All new trustees receive an information pack containing: the Memorandum and Articles of Association, a role description, charity commission guidance on the roles and responsibilities of trustees and public benefit, an annual report and accounts, CVS services information pack, newsletter, and the organisation’s strategic plan. They are invited to attend an induction training session which covers the history of CVS and its future plans, the roles and responsibilities of trustees and basic health and safety information. Trustees are also offered the opportunity to shadow members of staff, attend all internal training and development days and to join a sub committee of their choice. There is IT provision that enables trustees to access our suite of Policies.

Page 11

South Derbyshire CVS (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Structure, governance and management (continued)

e. Related party relationships

The organisation is an affiliated member of NAVCA (the National Association of Voluntary Community Associations). CVS agrees to provide services that cover the core areas of work. These are: Development, Representation, Liaison, Practical Support and Strategic Partnerships.

The organisation is a member of NCVO (National Council of Voluntary Organisations) and has achieved its Volunteer Centre Quality Accreditation evidencing that our Volunteer Centre service delivers all 5 core functions to a high standard. These are: Strategic Development of Volunteering, Good Practice Development, Developing Volunteering Opportunities, Voice of Volunteering and Brokerage.

The organisation is a member of DDiA (Derby & Derbyshire Infrastructure Alliance), the Derbyshire Consortium of voluntary and community sector infrastructure organisations. Membership enables the organisation to collaborate with similar services at a county level and engage with national policy around the provision of infrastructure services.

The Volunteer Centre is a member of Volunteer Centres Derbyshire, a sub group of 3D. Its remit is to maintain high standards of volunteer centre service delivery across the county and to work towards equitable delivery of service.

f. Financial risk management

The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company and are satisfied that systems and procedures remain in place to mitigate our exposure to the major risks.

The Senior Team has carried out a review of the risks to which the organisation is exposed. The risk register is updated and is brought to sub committees and Board meetings. Where appropriate, systems and procedures have been established to mitigate the risks faced by the organisation. The organisation has comprehensive financial management and operational manuals, which are reviewed annually and amended as required. All the services delivered by SDCVS operate within legal requirements as well as the requirements of statutory partners on matters of safeguarding children and vulnerable adults, confidentiality and the maintenance of client records.

The organisation operates sub groups to manage its health and safety requirements and the review and production of policies. The groups are responsible for monitoring, reviewing and responding to risks on a regular basis and reporting to sub committees and the Board as appropriate.

Page 12

South Derbyshire CVS (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Plans for future periods

As the UK and Voluntary sector adjusts to a post-pandemic way of living, with increased living costs, South Derbyshire CVS will remain focussed on improving health outcomes and community connections.

Ever increasing pressures on the Health and Social Care sector, means that voluntary sector support, now more than ever, is needed to support and guide those with vulnerabilities, aiming to reduce the demand on front line services where possible.

Our focus will remain; supporting those experiencing food inequality, reducing loneliness and isolation and promoting independence at home.

The services we provide are reliant on our excellent Volunteer Force, who are now joined by Derbyshire Time Swap members. We see both as huge assets to our Organisation as well as the community. We will continue to invest in our volunteers through training, development, and recognition. Our recent rebrand of the Volunteer Force, armed with a reviewed plan of action, will ensure that the volunteers’ journey from start to end, is of benefit to the individual as well as the people they help and support.

2023-24 will see the launch and expansion of our Training Delivery services. It is our aim to be a go-to provider of high quality, affordable training solutions, for individuals, other VCSE organisations as well as the private sector. Provision of paid-for training will allow us to invest in services where we see fluctuating demand such as the Food Bank.

We will continue to invest time and resources through our Community Development team into the creation and development of local groups and community based organisations, with increased focus and energy being directed into the rural parts of South Derbyshire, ensuring that we understand the needs of these areas as well as understanding the community strengths and volunteering capacity.

Our premises, The Hive, based in the centre of Swadlincote, is becoming a hub of activity which, we are keen to develop further in the coming year. We want our space to be welcoming to individuals, our staff and volunteers, partners and other VCSE sector groups. Our recently refurbished Training room will be utilised in a number of ways, and we look forward to sharing this resource with other organisations, for maximum community impact.

We continue to invest in long lasting foundations, in terms of processes, quality, compliance and governance. SDCVS will continue to show good practice and be a strong voice for the sector, aiming for longer term, sustainable services and infrastructure support.

We remain in very challenging times and the time and resource we invest in our services, will be matched to that which we invest in our staff. Professionals in the sector are not immune from societal pressures, and we recognise that the wellbeing of our workforce is paramount to our past and future success.

Funds held as custodian

South Derbyshire CVS has acted as Custodian Trustee for various organisations during the year. Full details are given in the final note to the financial statements.

Page 13

South Derbyshire CVS (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2023

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditor

The auditors, Dains Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Approved by order of the members of the board of Trustees and signed on their behalf by:

H M Scott-South Chair

Date: 18 September 2023

Page 14

South Derbyshire CVS (A company limited by guarantee)

Independent auditor's report to the Members of South Derbyshire CVS

Opinion

We have audited the financial statements of South Derbyshire CVS (the 'charity') for the year ended 31 March 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 15

South Derbyshire CVS (A company limited by guarantee)

Independent auditor's report to the Members of South Derbyshire CVS (continued)

Other information

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

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

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

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Page 16

South Derbyshire CVS

(A company limited by guarantee)

Independent auditor's report to the Members of South Derbyshire CVS (continued)

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Page 17

South Derbyshire CVS

(A company limited by guarantee)

Independent auditor's report to the Members of South Derbyshire CVS (continued)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Morris FCA (Senior statutory auditor)

for and on behalf of

Dains Audit Limited

Statutory Auditor Chartered Accountants

Birmingham

18 September 2023

Page 18

South Derbyshire CVS

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2023

Note
Income from:
Donations and grants
4
Charitable activities
5
Other trading activities
6
Investments
7
Other income: surplus on disposal of
freehold property
8
Total income
Expenditure on:
Raising funds
9
Charitable activities
10
Total expenditure
Net income/(expenditure)
Transfers between funds
20
Net movement in funds
Reconciliation of funds:
Total funds brought forward
20
Net movement in funds
Total funds carried forward
20		 Unrestricted
funds
2023
£
45,719
15,519
2,853
4
234,168
298,263
5,073
163,717
168,790
129,473
(40,968)
88,505
419,029
88,505
507,534		 Restricted
funds
2023
£
55,726
988,966
-
-
-
1,044,692
-
1,038,653
1,038,653
6,039
40,968
47,007
70,303
47,007
117,310		 Total
funds
2023
£
101,445
1,004,485
2,853
4
234,168
1,342,955
5,073
1,202,370
1,207,443
135,512
-
135,512
489,332
135,512
624,844		 Total
funds
2022
£
35,921
802,911
5,492
244
-
844,568
4,471
992,952
997,423
(152,855)
-
(152,855)
642,187
(152,855)
489,332

The notes on pages 22 to 42 form part of these financial statements.

Page 19

South Derbyshire CVS (A company limited by guarantee) Registered number: 04958843

Balance sheet As at 31 March 2023

Note
Fixed assets
Intangible assets
16
Tangible assets
17
Current assets
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within one
year
19
Net current assets
Total net assets
Charity funds
Restricted funds
20
Unrestricted funds
20
Total funds		 76,055
711,715
787,770
(180,512)		 2023
£
-
17,586
17,586
607,258
624,844
117,310
507,534
624,844		 20,641
516,926
537,567
(166,954)		 2022
£
-
118,719
118,719
370,613
489,332
70,303
419,029
489,332

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

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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

H M Scott-South Chair

Date: 18 September 2023

The notes on pages 22 to 42 form part of these financial statements.

Page 20

South Derbyshire CVS

(A company limited by guarantee)

Statement of cash flows For the year ended 31 March 2023

Note
Cash flows from operating activities
Net cash used in operating activities
23
Cash flows from investing activities
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
24
The notes on pages 22 to 42 form part of these financial statements		 2023
£
(127,953)
335,000
(12,258)
322,742
194,789
516,926
711,715		 2022
£
80,765
-
-
-
80,765
436,161
516,926

Page 21

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

1. General information

South Derbyshire CVS is a private company limited by guarantee, incorporated in the United Kingdom and registered with the Charity Commission in England & Wales. Its registered office address and registered numbers are given on Page 1 of these financial statements. Its primary objective is to promote any charitable purposes for the benefit of the community, in particular but not exclusively, in the local government district of South Derbyshire and the advancement of education, the advancement, promotion and protection of health and the relief of poverty, distress and sickness.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

South Derbyshire CVS meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 22

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Intangible assets and amortisation

Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Computer software - 20 % straight-line

Page 23

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

2. Accounting policies (continued)

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line and reducing balance methods.

Depreciation is provided on the following bases:

Freehold property - 2% straight-line
Fixtures and fittings - 25% straight-line
Office equipment - 25% reducing balance
Computer equipment - 33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of financial activities.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 24

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

2. Accounting policies (continued)

2.10 Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.11 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

2.13 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 25

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Critical areas of judgment:

Depreciation

Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and vary depending on a number of factors. In re-assessing the asset lives, factors such as product life cycles and maintenance programmes are taken into account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values, plans to dispose of an asset before the previously expected date, changes in funding which impact on the future viability of schemes resulting in assets no longer required.

4. Income from donations and grants

Unrestricted
funds
2023
£
Donations
45,719
Donations
Legacies		 Restricted
funds
2023
£
55,726
Restricted
funds
2022
£
28,921
7,000
35,921		 Total
funds
2023
£
101,445
Total
funds
2022
£
28,921
7,000
35,921

Page 26

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

5. Income from charitable activities

Unrestricted
funds
2023
£
Voluntary Sector Support & Services
15,519
Unrestricted
funds
2022
£
Voluntary Sector Support & Services
17,410		 Restricted
funds
2023
£
988,966
Restricted
funds
2022
£
785,501		 Total
funds
2023
£
1,004,485
Total
funds
2022
£
802,911

6. Income from other trading activities

Unrestricted Total Total
funds funds funds
2023 2023 2022
£ £ £
Activities for generating funds 2,853 2,853 5,492

Amounts in 2022 were wholly attributable to unrestricted funds.

7. Investment income

Unrestricted Total Total
funds funds funds
2023 2023 2022
£ £ £
Bank interest 4 4 244

Amounts in 2022 were wholly attributable to unrestricted funds.

Page 27

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

8. Other incoming resources

Unrestricted Total Total
funds funds funds
2023 2023 2022
£ £ £
Surplus on disposal of freehold property 234,168 234,168 -

On 8 August 2022, the charity completed the sale of its freehold property for proceeds of £335,000, generating a surplus on disposal of £234,168.

9. Expenditure on raising funds

Fundraising expenses

Unrestricted Total Total
funds funds funds
2023 2023 2022
£ £ £
Event costs 5,073 5,073 4,471

Amounts in 2022 were wholly attributable to unrestricted funds.

Page 28

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

10. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2023
£
Voluntary Sector Support & Services
163,717
Unrestricted
funds
2022
£
Voluntary Sector Support & Services
178,830		 Restricted
funds
2023
£
1,038,653
Restricted
funds
2022
£
814,122		 Total
2023
£
1,202,370
Total
2022
£
992,952

11. Analysis of expenditure by activities

Voluntary Sector Support & Services
Voluntary Sector Support & Services		 Activities
undertaken
directly
2023
£
1,178,403
Activities
undertaken
directly
2022
£
959,562		 Grant
funding of
activities
2023
£
14,298
Grant
funding of
activities
2022
£
24,840		 Governance
costs
2023
£
9,669
Governance
costs
2022
£
8,550		 Total
funds
2023
£
1,202,370
Total
funds
2022
£
992,952

Page 29

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

11. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Depreciation and amortisation
Project delivery
Travel and expenses
Telephone and internet
IT expenses
Staff training
Training delivery
Rent and premises
Postage and stationery
Professional fees
Insurance
Bank charges
Sundries
Cleaning
Heat and light
Volunteer expenses
Maintenance and repairs		 Total
funds
2023
£
835,320
12,559
219,491
5,517
5,454
20,743
8,454
-
21,750
3,171
28,113
5,546
765
1,947
2,184
4,726
1,638
1,025
1,178,403		 Total
funds
2022
£
664,502
17,525
206,615
161
5,502
14,679
3,138
6
-
13,104
17,214
3,316
694
5,367
2,646
3,289
900
904
959,562

Page 30

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

12. Analysis of grants

Grants to individuals and organisations
Grants to individuals and organisations
Net income/(expenditure)
Depreciation of tangible fixed assets
Amortisation of intangible fixed assets
Surplus on disposal of tangible fixed assets
Auditor's remuneration		 Grants paid
2023
£
14,298
Grants paid
2022
£
24,840
2023
£
12,559
-
234,168
8,500		 Total
funds
2023
£
14,298
Total
funds
2022
£
24,840
2022
£
10,863
6,662
-
7,125

13. Net income/(expenditure)

Page 31

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

14. Staff costs

Wages and salaries
Social security costs
Pension costs		 2023
£
711,370
55,611
68,339
835,320		 2022
£
586,531
32,251
45,720
664,502

The average number of persons employed by the Charity during the year was as follows:

Chief Executive
Charitable Activities
Administration and Support		 2023
No.
1
26
3
30		 2022
No.
1
20
3
24

No employee received remuneration amounting to more than £60,000 in either year.

15. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL).

Page 32

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

16.
Intangible assets
Cost
At 1 April 2022
At 31 March 2023
Amortisation
At 1 April 2022
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Computer
software
£
32,823
32,823
32,823
32,823
-
-

Page 33

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

17. Tangible fixed assets

Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
On disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022		 Freehold
property
£
159,194
-
(159,194)
-
57,301
1,061
(58,362)
-
-
101,893		 Fixtures and
fittings
£
5,289
-
-
5,289
1,405
1,323
-
2,728
2,561
3,884		 Office
equipment
£
342
3,935
-
4,277
225
1,013
-
1,238
3,039
117		 Computer
equipment
£
28,321
8,323
-
36,644
15,496
9,162
-
24,658
11,986
12,825		 Total
£
193,146
12,258
(159,194)
46,210
74,427
12,559
(58,362)
28,624
17,586
118,719

Page 34

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

18. Debtors

Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
64,552
-
11,503
76,055		 2022
£
14,718
140
5,783
20,641

19. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 April 2022
Resources deferred during the year
Amounts released from previous periods		 2023
£
10,598
17,923
10,704
141,287
180,512
2023
£
81,733
131,324
(81,733)
131,324		 2022
£
10,012
13,657
31,749
111,536
166,954
2022
£
8,840
81,733
(8,840
81,733

Deferred income is held in respect of contracts for services where those services will be delivered in the following financial year.

Page 35

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

20. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Reserves policy
Fixed assets
Property sale
General funds
General Fund
Total Unrestricted funds
Restricted funds
Derbyshire County Council
Derbyshire ICB
South Derbyshire District
Council (SDDC)
Erewash Borough Council
National Lottery Community
Fund
Foundation Derbyshire
Handy Person capital budget
Capital grant fund
SDMHA - Mental Wellbeing
Total of funds		 Balance at 1
April 2022
£
132,000
118,719
-
250,719
168,310
419,029
34,201
-
(7,376)
-
16,289
-
20,189
7,000
-
70,303
489,332		 Income
£
-
-
234,168
234,168
64,095
298,263
697,716
60,535
208,312
16,000
4,167
6,000
7,000
-
44,962
1,044,692
1,342,955		 Expenditure
£
-
(12,559)
(69,587)
(82,146)
(86,644)
(168,790)
(701,160)
(60,535)
(191,572)
(16,000)
(20,456)
(6,000)
(18,509)
(7,000)
(17,421)
(1,038,653)
(1,207,443)		 Transfers
in/(out)
£
(30,766)
(88,574)
100,832
(18,508)
(22,460)
(40,968)
40,968
-
8,680
-
-
-
(8,680)
-
-
40,968
-		 Balance at
31 March
2023
£
101,234
17,586
265,413
384,233
123,301
507,534
71,725
-
18,044
-
-
-
-
-
27,541
117,310
624,844

Page 36

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

20. Statement of funds (continued)

Designated funds

Designated funds are comprised of amounts set aside under the reserves policy detailed in the Trustees' Report, amounts tied up in fixed assets and the proceeds from the property sale ringfenced by the Trustees.

Restricted funds

Derbyshire County Council funding supports the provision of the Home from Hospital service, Befriending services, Active Travel, the running of the Food Bank, Covid Connectors and general infrastructure projects.

Derby & Derbyshire CCG funding supports the provision of Infrastructure, Signposting and includes funds for grant administration.

South Derbyshire District Council funding includes core funding and funds for Infrastructure, Safer Homes, Shopmobility and the Handyperson service.

DCC Public Health funding received supports Food Hub, ALICE and includes funds for grant administration.

National Lottery Community Fund supports HubCo and the three year IsLand Project.

Foundation Derbyshire support projects on Social Impact and Protected Characteristics.

Miscellaneous funds represent Erewash Borough Council - Safer Homes, NHS Swadlincote PCN - Social Prescribing and smaller funds such as food bank donations.

The Handyperson capital budget represents funding for materials used in delivering the Handyperson service funded by South Derbyshire District Council.

The capital grant was a contribution from Vinci Foundation towards a new van, however, it was agreed that this could be repurposed during the year.

SDMHA - Mental Wellbeing represents the funds donated by South Derbyshire Mental Health Association on winding up of the charity.

Page 37

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

20. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Reserves policy
CRM system
Fixed assets
General funds
General Fund
Total Unrestricted funds
Restricted funds
Derbyshire County Council
Derbyshire ICB
South Derbyshire District
Council (SDDC)
Erewash Borough Council
National Lottery Community
Fund
Foundation Derbyshire
Miscellaneous funds
Handy Person capital budget
Capital grant fund
Total of funds		 Balance at
1 April 2021
£
160,534
6,662
139,900
307,096
272,088
579,184
19,278
2,154
-
16,854
13,104
7,340
4,273
-
-
63,003
642,187		 Income
£
-
-
-
-
23,146
23,146
451,688
58,421
166,584
-
30,289
12,000
70,440
25,000
7,000
821,422
844,568		 Expenditure
£
-
(6,662)
(21,181)
(27,843)
(155,458)
(183,301)
(436,765)
(60,575)
(173,960)
(16,854)
(27,104)
(19,340)
(74,713)
(4,811)
-
(814,122)
(997,423)		 Transfers
in/out
£
(28,534)
-
-
(28,534)
28,534
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2022
£
132,000
-
118,719
250,719
168,310
419,029
34,201
-
(7,376)
-
16,289
-
-
20,189
7,000
70,303
489,332

Page 38

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

21. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at 1
April 2022
£
250,719
168,310
70,303
489,332
Balance at
1 April 2021
£
307,096
272,088
63,003
642,187		 Income
£
234,168
64,095
1,044,692
1,342,955
Income
£
-
23,146
821,422
844,568		 Expenditure
£
(82,146)
(86,644)
(1,038,653)
(1,207,443)
Expenditure
£
(27,843)
(155,458)
(814,122)
(997,423)		 Transfers
in/out
£
(18,508)
(22,460)
40,968
-
Transfers
in/out
£
(28,534)
28,534
-
-		 Balance at
31 March
2023
£
384,233
123,301
117,310
624,844
Balance at
31 March
2022
£
250,719
168,310
70,303
489,332
Summary of funds - prior year
Designated funds
General funds
Restricted funds

22. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2023
£
Tangible fixed assets
17,586
Current assets
539,136
Creditors due within one year
(49,188)
Total
507,534		 Restricted
funds
2023
£
-
248,634
(131,324)
117,310		 Total
funds
2023
£
17,586
787,770
(180,512)
624,844

Page 39

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

22. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2022
£
118,719
352,059
(51,749)
419,029		 Restricted
funds
2022
£
-
185,508
(115,205)
70,303		 Total
funds
2022
£
118,719
537,567
(166,954)
489,332

23. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Amortisation charges
(Surplus)/deficit on on the sale of fixed assets
(Increase)/decrease in debtors
Increase in creditors
Net cash provided by/(used in) operating activities
24.
Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents		 2023
£
135,512
12,559
-
(234,168)
(55,414)
13,558
(127,953)
2023
£
711,715
711,715		 2022
£
(152,855)
10,863
6,662
10,318
82,537
123,240
80,765
2022
£
516,926
516,926

Page 40

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

25. Analysis of changes in net debt

At 1 April At 31 March
2022 Cash flows 2023
£ £ £
Cash at bank and in hand 516,926 194,789 711,715

26. Pension commitments

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £68,339 in the year (2022 - £45,720).

27. Operating lease commitments

At 31 March 2023 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2023
£
19,128
10,326
29,454		 2022
£
185
-
185

28. Related party transactions

The Charity was related to Sensum Group Limited, a company controlled by the former interim Chief Executive Officer. During the year, the charity incurred costs of £Nil (2022 - £78,475) with Sensum Group Limited, including £Nil (2022 - £17,500) held in accruals at the balance sheet date, for the Director's services as interim Chief Executive Officer of the Charity.

Page 41

South Derbyshire CVS (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2023

29. Funds held as Custodian Trustee

During the year, South Derbyshire CVS acted as Custodian Trustee for the organisations listed below.

The income and expenditure is not included within the South Derbyshire CVS financial statements and the balances held at 31 March 2023 are carried in a separate bank account that is not reflected on the balance sheet.

Client Funding
Bereavement Café
CVS Holding Interest
Ladies Like to Craft
Creative Collaborative
Etwall Walking Football Club
Grow Outside
Endometriosis Group
L D Partnership Board
Friends of Chrysanthemum Court
Swad & Burton Natural Parents
Dimand Befriending
Friends of Stenson Fields CCG
Swadlincote & Burton FANS
A Gift for You
Bug's Lifeline
Newhall Communtiy Friends
Social Connectedness
Staff Collections
Stanton Messy Play
William Allitt Youth Club
Memory Lane Social Activities
Heart of the Community
Etwall Baby and Toddler Group		 1 April 2022
£
241
3
428
821
969
7
1,565
500
1,053
1
302
80
50
(56)
775
123
500
21,120
68
2,000
2,500
-
-
-
33,050		 Income
£
-
23
(72)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
666
400
400
1,500
2,917		 Expenditure
£
(111)
-
-
-
-
-
-
-
-
-
(56)
-
-
-
-
-
-
(2,659)
-
-
(2,233)
(200)
(400)
(1,491)
(7,150)		 31 March
2023
£
130
26
356
821
969
7
1,565
500
1,053
1
246
80
50
(56)
775
123
500
18,461
68
2,000
933
200
-
9
28,817

Page 42