2023-07-31-accounts - Inclusion Ventures Limited

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INCLUSION VENTURES LIMITED Registered charity number 1113939 Registered company number 05174648

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

Community Accounts Service

INCLUSION VENTURES LIMITED

CONTENTS FOR THE YEAR ENDED 31 JULY 2023

Reference and administrative information	1
Trustee Annual Report	2 - 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8 - 11
Extended statement of financial activities	13

INCLUSION VENTURES LIMITED

REFERENCE AND ADMINISTRATIVE INFORMATION AS AT 31 JULY 2023

Directors: (Charity Trustees) Eleanor Nevard Doug Rodway Lisa Britton Peter Hope Crisolita Tavares Sousa Rebecca Bowen Registered office: 1 - 7 Broadway Jaywick Essex CO15 2EB Registered numbers: Charity: 1113939 Company: 05174648 Reporting accountant: Community360 Winsley's House High Street Colchester Essex CO1 1UG Bankers: Metro Bank

INCLUSION VENTURES LIMITED

TRUSTEES ANNUAL REPORT AS AT 31 JULY 2023

The big positive for our organisation is that on the 16th June 2023 we finally received the keys for Coppins Hall Community Centre which we agreed to lease in order to provide a safe place for the children and young people from the Percy King estate. This had been quite a wait as the refurbishment of the building after the devastating arson attack in 2021, was completed 8 months before in November 2022. Our provision for the Percy King estate had been purely outreach for two and a half years in total due to the centre closing when the pandemic first broke. Our dedicated staff continued to be a familiar presence for the children and young people at least five days a week, through all seasons. With this long-term lease secured we were finally able to welcome the children and wider community into this safe space and began to make the building the beating heart of the community again.

Our approach to this building has been different to our Jaywick base which we own. The community centre has fulfilled a need for Inclusion Ventures but we were mindful that it be run as a community asset and engage many other organisations that could provide no or low-cost activities for the whole community. With The National Lottery ‘Know Your Community ‘Fund we were able to recruit a Community Development Post. The building provided a lifeline for the local primary school which was a victim of the sudden crumbling concrete ceiling issue at the start of the September term. They used the sports hall and community room for several months. The Busketeers choir, Pedal Power giveaways, Pentecostal church, and yoga have become regular activities.

We also run an open day, in order to welcome the wider community into the premises.

We have a core group of ‘Friends’ that was developed to become the voice of Coppins, a panel of our older young people aged 17- 21 years, from the Percy King estate, long supported by the organisation, that will have a say in the developments to Coppins Hall activities. With time perhaps, young activists for the estate.

It is now two full years since we moved into our own base at Jaywick after the purchase and refurbishment with TNLC funding in 2019. This purpose built ‘home from home’ and the lease of the garden space opposite, has enabled us to enhance our provision; predominantly the children, young people, and their families: but also, the older generation. In all, a provide a deeper impact on the wider community of Jaywick. We are now more accessible and that has encouraged some strong partnerships with other organisations such as Peabody, Youth Unity, Clip Sound, Corner Lodge, Community Voluntary Service Tendring Resilience Team, and Libertina, all of which, share our ethos. Providing broader support for the community.

Our lunch club for isolated senior members of the community in Jaywick has doubled in size, and is a positive warm hub social club for the elderly. We lost two members of the group during the Covid lockdown period and both died in isolation. It prompted us to organise a set of workshops this year run by Libertina (previously known as Coffin Club). This sensitively handled course was aimed at empowering elderly to think about exactly how they would like their own funerals to be handled, without

INCLUSION VENTURES LIMITED

TRUSTEES ANNUAL REPORT AS AT 31 JULY 2023

being exploited by the industry and how they would open up this difficult subject with close friends and loved ones.

In 2023 we developed a group of young volunteers called the ‘Happy Helpers’ who have taken part in some positive community activities such as visiting Corner Lodge Residential home to engage with residents with arts activities. The initiative was warmly welcomed by the staff and residents and will continue periodically in the school holidays, as well as other initiatives such as work in our garden.

Another new addition to our staff team was a Maintenance Mentor, funded by Jack Petchey. This post was developed due to a need to have a person we could rely upon for general repairs in both buildings but more importantly someone with the experience of engaging disaffected children and young people so that they could work alongside, to learn valuable life and vocation skills. Also to repair any damage the young people occasionally cause, as this element of reparation helps develop value for the buildings.

Another big new development for us since we moved into the building was an initiative developed by our Child and Family Mentor, which is our breakfast club. Designed to get our children back into regular attendance at school after the pandemic lockdown disrupted the routine for those who already struggled to fit into the school system.

We made the decision to start a breakfast club due to the amount of our young people who had poor attendance, we could see the need for them and realised that it would have several potentialbenefits. Lots of our young people did not have access to healthy, nutritious breakfastsat home. We knew that a breakfast club would provide a balanced meal to start their day, which could improve their health and overall well-being.

Studies have shown that eating breakfast can improve cognitive function, memory, attention and focus in children. An additional benefit was the Deputy Head at Frobisher providing a walking bus after breakfast, to enable fresh air and conversation on the journey to enhance the optimistic start to the school day. A very positive collaborative working partnership. The school has reported back to us that attendance amongst those that attend breakfast club has increased.

This also led to two very successful back to school events in which parents and children were invited along to discuss bed routines, had free haircuts from a mobile hairdresser, and basic equipment for school such as pencil cases and good quality school uniform.

We were lucky in being selected to receive a new fund from Jack Petchey. Previously funding from this source has been to celebrate children and young people’s achievements and the reward had been equipment or trips of their choice. This time they approached us to fund a larger contribution for a vital role for the organisation, and some capital. This was great as it enabled us to replace the two double doors in the main space in Jaywick, which in heavy rain were letting in a lot of water.

INCLUSION VENTURES LIMITED TRUSTEES ANNUAL REPORT AS AT 31 JULY 2023 Additionally, they funded maintenan Mento¢s role. It's worth considering that have employed several ex-beneficiaries in the past. In 2023 employed two adutts from Jaywick as the Maintenance Mentor and Community Developer. It feels good for Inclusion Ventures to be providing meaningful local em 0Yrnent, aThJ they in tum really understand and are passionate about the communities we serve. We had a change to our trustse Board, Rebecca Bowen18ft when she gained a promotion in June 2023 and Jessica Leonard became Chair. Signed Name

INCLUSION VENTURES LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023

	Notes	Unrestricted	Restricted	2023	2022
		Funds	Funds	Funds	Funds
		£	£	£	£
Incoming resources
Incoming resources
from generated funds:
Donations & legacies		880	561	1,441	1,388
Charitable activities	2	-	321,097	321,097	653,501
Investment income	3	1,091	-	1,091	57
Other income	4	7,920	160	8,080	-
Total incoming resources		9,891	321,818	331,709	654,945
Resources expended
Charitable activities		10,710	345,485	356,195	673,483
Total resources expended		10,710	345,485	356,195	673,483
Net (outgoing) incoming resources		(819)	(23,667)	(24,486)	(18,538)
Reconciliation of funds:
As at 1 August 2022		140,839	376,591	517,430	535,968
As at 31 July 2023	7	140,020	352,924	492,944	517,430

The notes on pages 8 - 12 form part of these financial statements

INCLUSION VENTURES LIMITED BALANCE SHEET AS AT 31 JULY 2023 2023 Tolal Funds 2022 Totsl Funds Flx•d ass•ts Tangible assets 285,282 286,282 293,653 293,663 Curr•nt ass•ts Cash in hand Debtors 270,685 3.633 274,318 220.282 16,123 238,404 Llabllill•s Creditors.. amounts falling du8 Ihlthin one year 66,657 12.627 207,662 223,777 Total nol ass•ts 017 430 The funds of th• Charlty Unrestricted fund Revaluation reserve Restd¢ted funds 15,925 124,095 352,924 492,944 16,744 124.095 376.591 617,430 For the year ended 31 Jufy 2023 tho Company was entitled to exemption from Audit under section 477 of the Companlas Act 2006. The Members have not required th& Company to obtain an Audit in accordance with section 476 of the Companies Act 2006. The Direclors acknowledge their responslbllity for comptying wth the requlrements of the Act with respect to accounting records and for the preparatK)n of accounts. These accounts have been prepared in accordance with the provisions applicable to Compani8s subject to small Companies regim8. The Directors declare that they have approved thg ants 8bove. Sigrbed SLJ Date Eleanor Nevard

INCLUSION VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

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.

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. Property 2% of cost p.a.

INCLUSION VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

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.

1.8 Going concern

The trustees of the charity deem that there are sufficient funds available to continue operating on a going concern basis for the forseeable future

1.9 Charity information

Inclusion Ventures Limited is a private limited company by guarantee registered in England and Wales. All members of the company guarantee to contribute and amount not exceeding £10.00 to the company assets in the event it is wound up.

Unrestricted Funds 2023 £ - - - - - - - - - - - - - - - - - - -	Restricted Funds 2023 £ 12,125 28,241 3,000 13,335 4,413 - - - - 9,750 - - - - 500 - 242,837 4,146 2,750	Total Funds 2023 £ 12,125 28,241 3,000 13,335 4,413 - - - - 9,750 - - - - 500 - 242,837 4,146 2,750	Total Funds 2022 £ - 20,850 9,500 47,378 - 9,680 3,642 1,000 1,920 9,750 15,000 1,585 20,442 1,500 - 243,414 265,839 - 2,000
-	321,097	321,097	653,501

-	653,501	653,501

INCLUSION VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

3 Investment income

Property £ 300,000 -	Unrestricted Funds 2023 £ 1,091	Restricted Funds 2023 £ -	Total Funds 2023 £ 1,091	Total Funds 2022 £ 57
	1,091	-	1,091	57
				Total Funds 2022 £ - - -
	57	-	57
	Unrestricted Funds 2023 £ 1,702 6,218 -	Restricted Funds 2023 £ - - 160	Total Funds 2023 £ 1,702 6,218 160
	7,920	160	8,080	-
				Total £ 338,966 -
	-	-	-
	Furniture & Equipment £ 7,127 -	Office Equipment £ 18,837 -	Buildings Improvement £ 13,002 -
300,000	7,127	18,837	13,002	338,966
10,500 6,000	4,276 1,069	18,837 -	11,700 1,302	45,313 8,371
16,500	5,345	18,837	13,002	53,684

283,500	1,782	-	-	285,282

289,500	2,851	-	1,302	293,653

1-7 Broadway was purchased on the 16th October 2020 for £175,905. The property was valued at £300,000 by Bond of Essex. The valuation was completed on the 31st March 2022, but was based on the fair and true value when they viewed the property on the 17th July 2019. Therefore the remaining £124,905 has been included as a gain on revaluation. The valuation was based on the square footage of the property.

6 Debtors Debtors Prepayments	2023 £ - 3,633	2022 £ 13,100 3,023
	3,633	16,123

INCLUSION VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

7 Creditors Accrued expenses and deferred income Creditors 8 Funds 01/08/22 Unrestricted funds £ General fund 140,839 Restricted funds Activity & Community Funds 8,742 Building & Equipment 203,206 Restricted Core 108,640 Food & Nourishment 9,689 Physical Wellness 32,214 Therapatic & Emotional Wellbeing 14,100 Total 376,591	Income £ 9,891 16,282 - 268,134 11,442 13,835 12,125	Expenses £ (10,710) (17,935) (10,819) (257,462) (16,995) (20,894) (21,380)	2023 £ 54,226 12,431	2022 £ 10,450 2,177
			66,657	12,627
			Transfer £ - - - - - - -	31/07/23 £ 140,020 7,089 192,387 119,312 4,136 25,155 4,845
376,591	321,818	(345,485)	-	352,924

The TNLCF Capital fund was used to purchase the property 1-7 Broadway. There are conditions if Inclusion Ventures were to sell the property before 2026.

9 Trustee remuneration

No remuneration was paid to any trustee or to any person or persons known to be connected with any of them.

10 Related parties

There were no related parties within the year.

11 Key management personnel

During the year total remuneration of £73,400 (2022: £79,977) was paid to key management personnel. The remuneration of key management personnel is decided upon and authorised by the trustees.

INCLUSION VENTURES LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

The following page does not form part of the statutory financial statements

INCLUSION VENTURES LIMITED

DETAILED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY 2023

Income Donations and legacies Voluntary income Investment income Other income Total income Charitable activities Salaries & wages Administration Rent, rates, light & heat Bank fraud Property repairs Insurance Hire of hall Equipment 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 2023 £ 1,441 321,097 1,091 8,080	Total 2022 £ 1,388 653,501 57 -
	331,709 228,230 622 13,908 - 20,277 1,272 - 1,631 2,100 3,951 2,918 - 1,630 8,277 2,887 1,973 57,933 215 8,371	654,945 206,516 335 8,661 24,364 310,890 3,962 4,899 - 2,931 2,664 7,034 2,001 1,180 6,047 3,186 1,569 74,882 3,342 9,019
	356,195	673,483
	356,195	673,483
	(24,486)	(18,538)