**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
**1**
## **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
2
## **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.
3
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
**6**
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.
**8**
## **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.
|**2.**
**Charitable Activities**
Children in Need
Jack Petchey
Essex Community Foundation
Active Essex
Essex ActivATE
Hyperlocal CVST
Bike Kitchen
Tendring District Council
Essex YSG00
Essex PFCC
Mulberry Trust
North Essex Support Team
Essex Pedal Power
CVST - Winter Warmth
Barclays Sported
TNLCF - Capital
TNLCF - Main grant
Big Lottery - Flourish & Nourish
Other grants
**Total 2023**
**Total 2022**|**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**||
**9**
## **INCLUSION VENTURES LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023**
## **3 Investment income**
|Bank interest receivable
**Total 2023**
**Total 2022**
**4**
**Other income**
Miscellaneous income
Placement fees
Trip contributions
**Total 2023**
**Total 2022**
**5**
**Tangible fixed assets**
**Cost**
At 1 August 2022
Additions
At 31 July 2023
**Depreciation**
At 1 August 2022
Charge for the year
At 31 July 2023
**Net book values**
At 31 July 2023
At 31 July 2022|**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**|
**10**
## **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|**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.
**11**
## **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**
**12**
## **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)**|
**13**