**INCLUSION VENTURES LIMITED Registered charity number 1113939 Registered company number 05174648**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
_**Community Accounts Service**_
## **INCLUSION VENTURES LIMITED**
## **CONTENTS FOR THE YEAR ENDED 31 JULY 2020**
|Reference and administrative information|1|
|---|---|
|Directors' report|2 - 7|
|Statement of financial activities|8|
|Balance sheet|9|
|Notes to the financial statements|10-15|
|Independent examiner's report|16|
## **INCLUSION VENTURES LIMITED**
## **REFERENCE AND ADMINISTRATIVE INFORMATION AS AT 31 JULY 2020**
**Directors: (Charity Trustees)** Eleanor Nevard Doug Rodway Lisa Britton Peter Hope Crisolita Tavares Sousa **Registered office:** Unit 8 Jaywick Enterprise Centre Lotus Way Jaywick Sands CO15 2LU **Registered numbers:** Charity: 1113939 Company: 05174648 **Reporting accountant:** Community360 Winsley's House High Street Colchester Essex CO1 1UG **Bankers:** Barclays Bank Metro Bank
**1**
**TRUSTEES ANNUAL REPORT AS AT 31 JULY 2020**
## **INCLUSION VENTURES LIMITED**
## The background of the Board of Trustees
There has been no change to the Board of Trustees during this financial year, which has helped to helped to maintain a stable management structure.
## Our purpose and Aims
The ethos we work from remains, “Turning Exclusion into Inclusion”. The four main themes of IV remain:
**Education/Employment –** this element of our work continues to be an area of development and a vision that IV can increase the opportunities available to children and young people that we serve during a time when there are limited services to fully meet their needs. Through a range of partnership working, events and activities, IV intends to widen the YP’s experiences to create pathways and aspirations to lead them into living fulfilling lives. Where the benefits of education and working are appreciated and valued, especially when the mainstream systems have not always been able to provide the right stimulus to develop the individual fully. IV intends to facilitate the YP to recognise their potential and support them to achieve their desired outcomes.
Very recently, one YP has secured permanent employment, having undertaken 4 previous work experience placement through the Unity Enterprise’s Experience Labs, in which IV supported the YP to travel to and by attending the awards events. IV has also supplied a bike to this YP so that they are able to travel independently to work. This particular example of partnership working and facilitating a YP to attend a work placement and activity brings our vision to life.
Additionally, IV secured funding for 12 YP (aged 14 to 16 year olds) to attend a week long Firebreaks course at the Clacton Fire Station, developing some key transferrable skills that can be further developed for eventual employment.
**Physical Health –** encouraging the YP we serve continues to be a challenge, as they do not always appreciate the benefits of physical activity to their general health and wellbeing. IV promotes health eating and physical activity and has been fortunate to secure funding from Active Essex to increase the number of activities provided with the introduction of a new role to the team, a Sports and Outdoor Activities Lead. New sports and activities have been introduced to the existing delivery. It was necessary for the Team to adapt how activities we delivered due to the Covid-19 pandemic striking in March 2020. Whilst many organisations diverted their working to online activities, trying to “Get the Nation Moving”, we were very aware that many of the YP we work with have limited or no regular Internet access.
Therefore, it was decided that we could provide 1:1 bike rides, following the Government guidelines, in order to encourage the YP to undertake regular exercise with our trusted members of staff. This was particularly important to not only ensure their physical health was being maintained but also their overall wellbeing was being monitored, as we are aware that a high percentage of our YP are living in homes where domestic violence is prevalent and there is general neglect for their welfare.
As lockdown was lifted, we have been able to run outdoor sessions, during which the YP have been able to exercise safely and they have been provided with healthy drinks and snacks. It has been unfortunate that we have not been able to take groups on outdoor adventures, on planned residential trips, due to the pandemic, but these will take place in the coming months. They will become an important opportunity for YP to experience personal and physical challenges and will develop a wide knowledge and understanding of the world beyond their immediate localities.
**2**
**TRUSTEES ANNUAL REPORT AS AT 31 JULY 2020**
## **INCLUSION VENTURES LIMITED**
Funding has also been gained to provide small groups of YP to participate in swimming lessons, a life skill which is particularly relevant given our location by the Sea.
**Emotional Resilience –** there continues to be strong, supportive relationships formed between the YP and Team IV, which creates a safe environment for YP to explore their emotions and feelings with trusted members of the Team. From this foundation a number of strands of support are offered, including identifying a key worker, 1:1 mentoring and individual therapy. Again, the impact of the Covid-19 pandemic has meant that the work we undertake has needed to be modified or adapted to ensure the best safe practice for all concerned.
We have planned a number of additional elements to this work, including small group sessions lead by the therapists to offer support in coming to terms with the impact pandemic has had on the YP and their families. This work will be funded by the 3 year grant awarded by BBC Children in Need.
**Community Cohesion –** throughout the year IV has increased its partnership working with organisations that equally seek to support the communities we work with. These organisations stem from statutory, voluntary and community based sectors, all sharing the same aims, to work with the communities to meet their needs and to provide new and exciting opportunities for the residence.
On completion of the purchase and refurbishment of our own premises in Jaywick, we anticipate that we will be able to support and host more events that will further enhance the integration of various elements of the community. It will be a base for other organisations to work from, improving accessibility for those who require their services in their own neighbourhood.
## The Work of Inclusion Ventures
Relationships with other organisations continue to be strengthened in order to meet and deliver our key objectives. The Team is being constantly developed and strengthened with the addition of a few key roles; a Child and Family Worker and a Sports and Outdoor Activities Lead have been the latest recruits. Providing staff with opportunities to develop their existing skills not only gives them the chance to enhance themselves as individuals but also to bring knowledge and understanding of what IV can offer those we serve.
The Activities and Services that Inclusion Ventures offer are free at the point of delivery for all the young people, but to develop a sense of value, voluntary contributions are requested. The following activities were being provided prior to the Covid-19 situation arising:
The Activities and Services that Inclusion Ventures offer are free at the point of delivery for all the young people, but to develop a sense of value, voluntary contributions are requested. The following activities are provided:
**Weekly drop-in sessions** – 15 sessions held in a number of venues in the areas that IV serves for 7 to 19 year olds, generally spilt into 2 distinct age groups. We continuously monitor the sessions to maintain harmonious group dynamics.
**3**
## **INCLUSION VENTURES LIMITED**
## **TRUSTEES ANNUAL REPORT AS AT 31 JULY 2020**
Each session aims to deliver 4 elements
- Creativity in the areas of arts, culture and crafts, music and performing
- Physical recreation
- Challenges
- Life Skills
- Mentoring – 1:1 sessions are planned with the YP. This is an opportunity for the YP to discuss life issues that they may wish to explore with a trusted member of staff.
This is an area that has been proved to be much need and valued by the yp, with staff offering the opportunity, during the most challenging of times (Covid-19 lockdown), the chance for yp to speak openly about their feelings of isolation and fear of not knowing how to respond. It has also increased the strength of the messages being conveyed to the public regarding safe behaviour during unsure times.
• Catering for YP – in a number of sessions YP are shown how to cook a variety of healthy, nutritious meals and are provided with the recipes posted on Facebook each week to share with their family.
During Covid-19 we prepared a few healthy snacks in our Base and took them along to provisessions for the yp to enjoy and taste. All drinks and snack had to be provided in disposable cups and bowls to meet the Governments guidelines but this is adds to the financial cost and impact on the environment. We shall always look at ways to minimise both and encourage the yp to recycle and reuse once it is considered safe to do so.
• Community Café – we continue with our twice weekly, free-of-charge, café for the Jaywick community’s senior residents. This provides them with a hot meal produced on site by our staff, alongside any YP who is on work placement. It facilitates inclusion and cohesion between the generations, working to reduce isolation amongst this vulnerable age group.
Covid prevented this from continuing safely from mid-March 2020 but will be reinstated as soon as it is deemed safe to do so.
- Holiday Activities – a variety of events and activities are planned with the young people to provide some structure and engagement to reduce the risk of anti-social behaviour.
Unfortunately due to pandemic this year’s summer programme has been greatly reduced but it will remain an important part of our delivery plan in the future for all school breaks.
• Bike Kitchens – weekly sessions based in both Clacton and Jaywick have proved to be highly successful in teaching and empowering YP to repair their own bikes and those of other family members. From March to October IV staff, who have completed the Bile Leaders training, take YP on a bike ride every Saturday, providing an additional opportunity to undertake some physical recreation and gain road safety awareness. It provides children with independence. We have been delighted to have received the major part of the funding needed Colchester Catalyst, along with 3 other funders, to purchase a Trishaw. A power assisted trike in reverse which has a seat at the front. IV bike kitchen volunteer, and principal lead, has developed a link with a Jaywick based dementia home and has organised a weekly outing for one of the residents to be cycled along the seafront, to “feel the wind in their hair”, on occasions cycled by a YP. Another opportunity for inter-generational links and community cohesion.
• Outreach – there has been a need, particularly during the pandemic, to increase the levels of outreach, with staff positioned on the streets of the localities to catch up with YP known to IV and the communities at large, to enquire as to their wellbeing and to gauge the need for any intervention or referral to another organisation.
• Staff training and development – the work undertaken by IV is both difficult and challenging, we therefore try to equip staff with the skills necessary to do the job. The following is a list of training opportunities made available to staff over the past year;
**4**
## **INCLUSION VENTURES LIMITED**
## **TRUSTEES ANNUAL REPORT AS AT 31 JULY 2020**
- Emergency First Aid – all sessional staff are now trained first aiders
- Bike Leaders – all staff who will be taking our young people on Bike rides have been trained
- Asset-based community development training – looking at what the community has, rather than what is missing
- Working with children with Alcohol dependant parents (Essex Safeguarding Board)
- SERVES – running tennis based sessions
- Safeguarding Children
- LGBTQ awareness
- Exploitation awareness
- Mental Health First Aid
- Attachment Training
- Site visits – places that will broaden the outlook of the YP beyond their familiar environments
## Overview of the year
It was hoped that IV would be able to report that it has purchased and developed its own premises but this has been delayed by several factors, including the Covid-19 pandemic.
However, it is with confidence that we can say that we expect to have our own premises in Jaywick during this coming financial year, with funds having already been secured from a few key funding streams.
With the security of sufficient funding, we have been able to have another stable year, providing a springboard for the coming year in which we will be better placed to instigate some key areas of development.
## Financial Review:
The Deputy Project Director is also responsible for overseeing and managing the financial aspect of the organisation. This facilitates monitoring, forward planning and reporting of the financial status of the charity at any given time, supporting the decision making process when deciding on activities to be offered within the whole organisation.
Restricted funding requires additional reporting to be undertaken and provided to individual funders. Where an underspend is incurred, a proposal is made to the funder to utilise the surplus money in a creative way in order to fulfil the restrictions of the initial funding proposal and to increase the delivery offer for our beneficiaries.
## Reserves Policy and Risk Management:
The current Reserve Fund is £30000, which has been set aside through unrestricted funding. However, the end of year balance remains well above the desired reserve figure.
The Annual Accounts are checked and verified by Community 360 accountants and are made available for public viewing through both the Charities Commission and Companies House.
## Key Risks:
Staff recruitment will be based on explicit terms of employment and/or contract, linked to relevant funding, thus reducing the risk of redundancy costs. However, this will be moderated by ongoing funding bids to secure further funding for successful projects. The use of premises, for sessions and for administration purposes, continues to be a source of financial concern and to overcome this IV would ideally like to secure more permanent bases in both of the locations it serves. In doing so greater flexibility can be achieved, allowing us to respond to the needs of our beneficiaries as and when it is necessary. IV is constantly endeavouring to respond to the requests made by the beneficiaries, through the youth forums and during regular sessions, to offer a service that is both proactive and reactive.
**5**
## **INCLUSION VENTURES LIMITED**
## **TRUSTEES ANNUAL REPORT AS AT 31 JULY 2020**
Low staffing levels have meant that, when there are periods of sickness, all staff are called upon to ensure sessions are not under-staffed. As a consequence, staff wages fluctuate to meet the demand. Inclusion Ventures is an employer which strives to maintain the well-being of its staff team, including volunteers. The Sick Pay Policy has been reviewed by Trustees and has been increased to help provide peace of mind when staff are absent from work due to illness or injury. Due to the nature of our work, supporting some vulnerable children, young people and their families, it is important that staff are fit for work, physically, emotional and mentally. IV further supports its staff by working collaboratively with the team to adjust work patterns and be flexible to meet any requests, where it is practicable to do so.
IV is at present trying to develop a similar positive relationship with our local social care agency as we have established with the police. This is in response to an increased need to report our safeguarding issues to social care.
## Future Plans:
Delays in securing our own property, coupled with the effects of the Covid-19 pandemic, have meant many of the plans we had made for this last financial year have had to be put on hold, whilst we adapt our normal work practices to meet the Government guidelines.
However, we envisaged that the purchase and start of the refurbishment will not be too long away. A number of exciting trips will run as soon as it is safe to do so.
All that was included in last year’s report remains in our plans
## DECLARATIONS:
The charity trustees (who are also the directors of the Inclusion Ventures for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and UK Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the incoming resources and application of resources, including the income and expenditure, of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the 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 that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website.
Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
**6**
## **INCLUSION VENTURES LIMITED**
## **TRUSTEES ANNUAL REPORT AS AT 31 JULY 2020**
Statement as to disclosure to our auditors in so far as the trustees are aware at the time of approving our trustees’ annual report: there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the group’s auditor is unaware, and the trustees, having made enquiries of fellow directors and the group’s auditor that they ought to have individually taken, have each taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit information.
Signed Eleanor Nevard
Date 1st April 2021
**7**
## **INCLUSION VENTURES LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2020**
||**Notes **|**Unrestricted**|**Restricted**|**2020**|**2019**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**Funds**|**Funds**|
|||**£**|**£**|**£**|**£**|
|**Incoming resources**||||||
|**Incoming resources**||||||
|**from generated funds:**||||||
|Donations & legacies||-|-|-|12,459|
|Charitable activities|**2**|7,035|336,278|343,313|193,375|
|Investment income|**3**|32|-|32|17|
|Other income|**4**|852|-|852|1,478|
|**Total incoming resources**||7,919|336,278|344,197|207,329|
|**Resources expended**||||||
|Charitable activities||18,196|254,557|272,753|213,386|
|**Total resources expended**||18,196|254,557|272,753|213,386|
|**Net (outgoing)/incoming**||(10,277)|81,721|71,444|(6,057)|
|**resources before transfers**||||||
|**Transfers between funds**||15,158|(15,158)|-|-|
|**Net (outgoing) incoming resources**||4,881|66,563|71,444|(6,057)|
|**Reconciliation of funds:**||||||
|**As at 1 August 2019**||31,420|86,537|117,957|124,014|
|**As at 31 July 2020**|**7**|**36,301**|**153,100**|**189,401**|**117,957**|
The notes on pages 10 - 15 form part of these financial statements
**8**
## **INCLUSION VENTURES LIMITED**
## **BALANCE SHEET AS AT 31 JULY 2020**
|**Note**
**Fixed assets**
Tangible assets
**5**
**Current assets**
Cash
**Liabilities**
Creditors: amounts falling
due within one year
**8**
**Net current assets**
**Total net assets**
**The funds of the Charity**
Unrestricted fund
Restricted funds|**2020**
**Total**
**Funds**
**£**
10,191
**10,191**
.
179,760
179,760
550
179,210
**189,401**
36,301
153,100
**189,401**|**2019**
**Total**
**Funds**
**£**
13,210|
|---|---|---|
|||**13,210**
105,298|
|||105,298
550
104,748|
|||**117,957**|
|||31,420
86,537|
|||**117,957**|
For the year ended 31 July 2020 the Company was entitled to exemption from Audit under section 477 of the Companies Act 2006.
The Members have not required the Company to obtain an Audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to Companies subject to small Companies regime.
The Directors declare that they have approved the accounts above.
Signed Date 1st April 2021 Eleanor Nevard
**9**
## **INCLUSION VENTURES LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **1. Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement on 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The charity constitutes a public benefit entity as defined by FRS 102.
## **Cash flow**
The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirement to prepare such a statement under Financial Reporting Standard 1 "Cash flow statements".
## **1.2 Fund accounting**
Unrestricted funds are available for use at the discretion of the Directors in furtherance of the general objectives of the Charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor, or contained in the terms of a grant.
## **1.3 Incoming resources**
All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:-
Voluntary income is received by way of grants and donations and is included in full when receivable. Unrestricted grants, where entitlement is not conditional on the delivery of a specific performance by the Charity, are recognised when the Charity becomes unconditionally entitled to the grant. Restricted grants are recognised on receipt. Gift Aid recoveries on donations from individuals are recognised in the same period as the donation.
Any donated services and facilities are included at the value to the Charity where this can be quantified. The value of services provided by volunteers (including the Directors) has not been included in these financial statements.
Client contributions and investment income are included when received.
## **1.4 Resources expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes non-recoverable VAT, and is reported as part of the expenditure to which it relates:
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them and attract funding to sustain them. Governance costs include those costs associated with meeting the constitutional and statutory requirement of the Charitable Company. This includes the preparation and examination of this annual report and financial statements, and a small portion of staff time on the strategic focus of the Company and servicing Directors meetings.
## **1.5 Tangible fixed assets and depreciation**
Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions are not capitalised. Depreciation is provided by the Company to write off the cost of tangible fixed assets by equal installments over their expected useful lives, as follows:-
Furniture and fittings 15% of cost p.a. Computer equipment 25% of cost p.a.
**10**
## **INCLUSION VENTURES LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
## **1.6 Investments**
Investments are stated at market value, which is based on current market price. All movements in value are shown in the Statement of Financial Activities.
## **1.7 Taxation**
The Company is a Charity within the meaning of section 506(1) of the Taxes Act 1988. Accordingly it is potentially exempt from taxation in respect of income and capital gains received within categories covered by section 505 of the Taxes Act 1988 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied to exclusively Charitable purposes. No provision for taxation has been made in these financial statements.
|**2.**
**Voluntary income**
Big Lottery Grant
Children in Need
Jack Petchey
Essex Community Foundation
Active Essex
Jaywick Sands Forum
Bike Kitchen
Tendring District Council
Essex PFCC
Fowler Smith and Jones
Comic Relief
Rank
Bisling UK
Clacton Jubilee
Colchester Catalyst
Essex County Council
TNLCF - Feasability
TNLCF - Main grant
Other grants
**3**
**Investment income**
Bank interest receivable
**4**
**Other income**
Miscellaneous income|**Unrestricted**
**Funds**
**2020**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
7,035|**Restricted**
**Funds**
**2020**
**£**
-
30,180
1,490
4,550
15,833
150
3,797
2,000
15,000
12,000
-
-
-
-
-
-
-
251,278
-|**Total**
**Funds**
**2020**
**£**
-
30,180
1,490
4,550
15,833
150
3,797
2,000
15,000
12,000
-
-
-
-
-
-
-
251,278
7,035|**Total**
**Funds**
**2019**
**£**
84,375
34,920
750
-
-
300
1,000
-
-
-
18,000
23,030
300
300
6,400
3,000
21,000
-
-|
|---|---|---|---|---|
||**7,035**|**336,278**|**343,313**|**193,375**|
||**Unrestricted**
**Funds**
**2020**
**£**
32|**Restricted**
**Funds**
**2020**
**£**
-|**Total**
**Funds**
**2020**
**£**
32|**Total**
**Funds**
**2019**
**£**
17|
||**32**|**-**|**32**|**17**|
||**Unrestricted**
**Funds**
**2020**
**£**
852|**Restricted**
**Funds**
**2020**
**£**
-|**Total**
**Funds**
**2020**
**£**
852|**Total**
**Funds**
**2019**
**£**
1,478|
||**852**|**-**|**852**|**1,478**|
**11**
## **INCLUSION VENTURES LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2020**
|**5**
**Tangible fixed assets**
**Cost**
At 1 August 2019
Additions
At 31 July 2020
**Depreciation**
At 1 August 2019
Charge for the year
At 31 July 2020
**Net book values**
At 31 July 2020
At 31 July 2019
**6**
**Creditors**
Accrued expenses and deferred
**7**
**Funds**
**Unrestricted funds**
General fund
**Restricted funds**
Act Bike Kitchen
Big Lottery grant
Children in Need
Comic Relief
Cycle Grant
Essex Community Foundation
Essex Police
Fowler Smith & Jones
Jack Petchey
Jaywick Sands Forum
Rank
Tendring Distrcit Council
Active Essex
Big Lottery development
Total
**Total funds**|income
**01/08/19**
**£**
31,420
5,324
8,966
20,679
10,531
885
-
-
-
69
-
19,323
-
-
20,760|**Furniture &**
**Equipment**
**£**
7,127
-|**Office**
**Equipment**
**£**
18,837
-|**Buildings**
**Improvement**
**£**
13,002
-|**Total**
**£**
38,966
-|
|---|---|---|---|---|---|
|||7,127
1,069
1,069|18,837
18,837|13,002
5,850
1,950|38,966
25,756
3,019|
|||2,138|18,837|7,800|28,775|
|||4,989|-|5,202|10,191|
|||||||
|||6,058|-|7,152|13,210|
|||**Income**
**£**
7,919
3,797
-
30,180
4,550
15,000
12,000
1,490
150
2,000
15,833
251,278|**Expenses**
**£**
(18,196)
(5,644)
(366)
(23,565)
(8,031)
(885)
(1,754)
(908)
(6,804)
(334)
(150)
(16,823)
(2,000)
(2,554)
(184,739)|**2020**
**£**
550|**2019**
**£**
550|
|||||**550**|**550**|
|||||**Transfer**
**£**
15,158
(1,000)
(2,000)
(2,500)
(500)
(1,000)
(400)
(2,500)
(258)
(5,000)|**31/07/20**
**£**
36,301
2,477
8,600
25,294
-
-
2,296
14,092
4,196
825
-
-
-
13,021
82,299|
||86,537|336,278|(254,557)|(15,158)|153,100|
||**117,957**|**344,197**|**(272,753)**|**-**|**189,401**|
**12**
## **INCLUSION VENTURES LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
## **8 Trustee remuneration**
No remuneration was paid to any trustee or to any person or persons known to be connected with any of them.
## **9 Related parties**
There were no related parties within the year.
## **10 Going concern**
The charity is operating on a going concern basis
## **11 Key management personnel**
During the year total remuneration of £43,446 (2019: £46,625) was paid to key management personnel. The remuneration of key management personnel is decided upon and authorised by the trustees.
## **12 Previous year comparison**
|**12 Previous year comparison**|||||
|---|---|---|---|---|
|Incoming resources
Incoming resources
from generated funds:
Donations & legacies
Charitable activities
Investment income
Other income
Total incoming resources
Resources expended
Charitable activities
Total resources expended
Net (outgoing)/incoming
resources before transfers
Transfers between funds
Net outgoing resources
Reconciliation of funds:
As at 1 August 2018
As at 31 July 2019|**Unrestricted **
**Funds**
**£**
12,459
-
17
1,478|**Restricted**
**Funds**
**£**
-
193,375
-
-|**2019**
**Funds**
**£**
12,459
193,375
17
1,478|**2018**
**Funds**
**£**
1,064
239,302
15
1,584|
||13,954
1,335|193,375
212,051|207,329
213,386|241,964
220,275|
||1,335
12,619
(22,189)|212,051
(18,676)
22,189|213,386
(6,057)
-|220,275
21,689
-|
||(9,570)
40,990|3,513
83,024|(6,057)
124,014|21,689
102,325|
||31,420|86,537|117,957|124,014|
**13**
**INCLUSION VENTURES LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020**
**The following page does not form part of the statutory financial statements**
**14**
## **INCLUSION VENTURES LIMITED**
## **DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2020**
|**Income**
Donations and legacies
Voluntary income
Investment income
Other income
**Total income**
**Charitable activities**
Salaries & wages
Administration
Rent, rates, light & heat
Insurance
Hire of hall
Travel expenses
Accountancy/bookkeeping fees
Professional fees
Bike Kitchen
Telephone expenses
Other office costs
Printing, postage & stationery
Training & development
Activity expenses
Sundry
Depreciation
**Charitable activities expenses**
**Total expenses**
**Surplus/(deficit) for the year**|**Total**
**2020**
**£**
-
343,313
32
852|**Total**
**2019**
**£**
12,459
193,375
17
1,478|
|---|---|---|
||**344,197**
209,573
3,006
4,525
1,615
11,226
1,902
1,553
12,340
1,320
938
3,100
2,731
1,867
13,221
817
3,019|**207,329**
161,399
3,134
5,071
1,224
13,543
1,461
2,046
-
1,664
1,249
4,096
2,012
1,459
6,488
1,459
7,080|
||272,753|213,385|
||**272,753**
**71,444**|**213,385**
**(6,057)**|
**15**
## **INCLUSION VENTURES LIMITED**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JULY 2020**
I report on the accounts of Inclusion Ventures Limited for the year ended 31st July 2020 which are set out on pages 8 to 15.
## **Respective responsibilities of trustees and examiner**
The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year (under section 144 (2) of the Charities Act 2011 (The Act) but that an independent examination is needed. The charities gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Association of Accounting Technicians.
It is my responsibility to:
- Examine the accounts under section 145 of the Charities Act,
- To follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Charities Act, and
- To state whether particular matters have come to my attention.
## **Basis of independent examiner’s Statement**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 considerations of any unusual items 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 I do not express an audit opinion on the view given by the accounts.
## **Independent examiner’s statement**
In the course of my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair' view which is not a matter considered as part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
|to be reached.|||
|---|---|---|
|Shelley-Marie Rudling FMAAT AATQB for and on behalf of:|||
|Community360|||
|Winsley’s House, High Street, Colchester, Essex|Date|09/04/2021|
**16**