Company registration number.. 04070342 Charity registration number: 1115303 Greater London Volunteering known as London Plus IA company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024 Fleld Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB
Greater London Volunteerlng known as London Plus Contents Reference and Administratlve Detalls Trustees, Report 2tolO Independent Examiner's Report Ilto12 Statement of Financial Activities 13 Balance Sheet 14tolS Statement of Cash Flows 16 Notes to the Financial Statement5 17to30
Greater London Volunteering known as London Plus Reference and Admlnlstratlve Detalls Chalr Sarah Mullev Trustees Edward Anderton Adwoa Fadahltnsi Stephanie Hann Renae Mann Sarah Mulley Dominic Pinkney 1115303 Charlty Reglstratlon Number Company Reglstratlon Number 04070342 The charlty Is incorporated In England. 9 Hare & Billet Road Blackheath SE3 ORB Reglstered Office Independent Examlner Field Sulllvan Llmited 9 Hare & Billet Road Blackheath SE3 ORB Bankers Metro Bank I Southampton Row London WCIB SHA The Co-operative Bank Ple Central Commercial Branch P.0. Box 250 Skelmersdale WN8 6WT Page I
Greater London Volunteering known as London Plus Trustees, Report The trustees, who are dlrectors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Objectlves and Actlvltles Oblectlves The objectives of the charlty are: To promote the efficiency and effectiveness of voluntary and charitable sector organisations. To promote such other exclusively charitable purposes according to the law of England and Wales as the trustees is their absolute dlscretlon from time to time determine. Purpose The "Purpose" of the charlty Is to enable community group5 and charities to make London thrivlng, cohesive, and resilient. Actlvltles There are four key bullding blocks to the work of London PIu5'. Networks enable London Plus to connect, provide support to, and gather information from charities and community groups across London. Some of these networks are for specific organisations, such as for local charltv infrastructure groups In each London borough. Others address a particular topic - such as social prescribing, or emergency resilience and response. London Plus's networks give credibility to its voice and influence when engaging with policy makers and funders across London. Communications help charlties and community groups In London to share information and learn from each other, and to collaborate more effectively. London Plus are invests time and resources into communication5 that work for large and diverse sector. This includes using social medla, newsletters, and our web51te, a5 well as through our networks. London Plus helps build connections to support the sector across London, and In particular to enable them to collaborate and engage with policymakers. It has strong links with policymakers in the Greater London Authority IGLAI and London Councils, as well as funders lour core funding comes from City Bridge Foundation as well as the GLA, and London Coyncilsl. Strong connections help build understanding, partnerships, and develop solutions. Data is the final building block of London PIu5'5 work. There is less analysis of the voluntary and community sector than other parts of the economy and soclety, which can limit understandlng of the sector'5 challenges and impact. London Plus helps fill this gap by gathering data from our networks and beyond, to better understand and serve the needs of the sector. Page 2
Greater London Volunteering known as London Plus Trustees, Report Values The work of London Plus Is shaped by the following values.. We are open. We welcome ideas, connections and potential collaborations, This helps u5 gather more useful information to help the sector, as well as to connect the right people and organisations to maximlse the value of our work. We are humble. The impact and value of our work comes through the work of other5 charitie5 and communlty groups on the frontline. We aim to highlight, reinforce and support their work. We learn and we adapt continuously. We adapt our views and intelligence as we gather more information, and are open to guidance. to corrections. and to any comments as well as criticisms that help us improve. We learn and we adapt contlnuously. We cannot know fixed and permanent answers or truths. We adapt our views and intelligence as we gather more information, and are open to guidance, to corrections, and to any comments as well as criticisms that help us Improve. We are ambltlous for the voluntary and communlty sector in London. Charlties and community groups In London play a vital role. We want to help them do more. helping tackle disadvantage and inequalities In the city. Public Benefit In forming and reviewing the charity's objectives, the trustees have given due regard to public benefit guidance published by the Charity Commission a5 required by sectlon 17 of The Charities Act 2011. Achlevements and Performance 2023124 London Communltles Emergencles Partnershlp (LCEP) and Falth and Bellef Sector Panel 2023124 marked LCEP'S first full operational year. established with support from Clty Brldge Foundation and the Greater London Authority. The partnership.. Recruited a new staff team and established an Advisory Group Delivered six workshops and five partnership meeting5, reaching over SOO participants Focused on climate risk, winter preparedness and emergency planning Developed protocols to capture and apply learning from London emergencies Secured E25,000 annual funding for VCS engagement through the UK Government's 'Stronger LRF, Programme Page 3
Greater London Volunteering known as London Plus Trustees, Report Notable emergency responses included: Sudan evacuation.. connected Sudanese organisations to the GLA Wimbledon school crash: facilitated Victim Support Ilnks with Local Authority Winter 23124 extreme weather: coordinated seven partners for Severe Weather Emergency Protocol Infrastructure Networks London CVS Network The network demonstrated strong performance through.. Successful Chair tran51tion with maintained continuity Publication of a second network Impact report Sustained focus on structural inequalities and practical support Development of CVS salary benchmarking and training needs analysis Creation of a back-office functions directory Regular engagement with guest speakers- including GLA, King's Fund. and London Funder5 Establishment of peer networks for VCSE Alliance Leads and Development Workers London Volunteer Centfe Network Key achievements included: Development of first network impact report Enhanced engagement with national volunteering campaigns Significant contribution to London's Vision for Volunteering Implementation of 'Slmply Volunteer London, portal improvements Regular showcase of innovative programmes including Croydon Communlty Lottery Active partlcipation in quallty standard developments London's Llfeline5 The initiative expanded through: Production of three new volunteer films during the Mayor's Community Weekend Addition of a comprehensive news section and mailing list Enhanced volunteer story content and engagement Oelivery of smartphone content creation training for volunteers Continued development of the website as a key resource for London's volunteerlng community Page 4
Greater London Volunteering known as London Plus Trustees, Report Soclal Prescrlblng Network The network strengthened its position through: Enhancing voluntary sector representation In health dlscusslons Introduction of monthly 'Meet the Network, online calls Comprehensive analysis of five ICS area5. commitments to voluntary sector Development of a health impact tool focuslng on creative arts organisations Extended reach to international audiences including Canada, Australia and Japan Maintenance of 'SP Connected, database for cross-sector collaboration Active engagement with Black and minoritlsed communlty organlsations London Boroughs Falth Network The network demonstrated strong performance through.. Establishing a new leadership framework for the Faith and Belief sector Panel IFBSPI to enhance engagement with London Reslllence Forum. Deliverlng Community Resilience Training in Kensington and Chelsea, Tower Hamlets, Southwark, Lambeth, and Westminster, training over 100 faith leaders. Supporting faith groups, responses to crises, including weather-related incident5, health emergencie5, and major flres. Partnering with LCEP to host a Summer and Winter Preparedness Webinars, improving weather related response readiness. Facilltating monthly Borough Faith Forum meetings to strengthen collaboration across faith communities. Strengthenlng cross-sector partnerships Iwith, for example, local and regional government, NHSIPublic Health and Police) to enhance resilience, emergency response and greater understanding of community tensions. Promoting soclal cohesion by supporting interfaith event5 during Holocaust Memorlal Day, Inter Falth Week, Mitzvah Day, and Remembrance/Armistlce Day to foster tommunlty LÈnity. Research and Data Slgnificant developments included.. Development of London Plus's first Research and Oata Strategy12024-20271 Recruitment of a dedlcated Researcher and Data Analyst Initlation of a Wennington fire volunteer impact study Publication of analyses on severe weather and volunteering data Establishment of strong relation5hip5 Wlth external research partners Page 5
Greater London Volunteering known as London Plus Trustees, Report Communlcatlons and Engagement Notable achlevements: Completion of comprehensive brand review Launch of new website at www.london lus.or Development and implementation of first Communications Strategy Successful delivery of Tales of Covid campaign Website performance: 79.811 vlews from 12,28S users Newsletter engagement.. Open rates increased from 44% to 67% Social media growth.. o Twltter: 157,000 Impresslons o Linkedln.. 42% follower increase o London's Lifelines.. 3,800 webslte users, 59 volunteer stories Structure, Governance and Management Governlng Document The organisation is a charitable company limited by guarantee, incorporated on 12th September 2000 and was registered as a charity in England and Wale5 on 13th July 2006. The company was established under a Memorandum of A550ciation which established the objects and powers of the charitable company and is governed under those Articles. The company replaced the exlsting Memorandum and Articles of Association with new Articles of Association on 6 February 2018. The legal name of the company remains Greater London Volunteerlng. Durin8 this period, the company continued to use the brand name London Plus. Recrultment and Appolntment of Trustees The recruitment and appointment of trustee5 are set out in our Articles of A550ciation. Trustees are elected annually at the AGM, At the third annual general meeting after a trustee's last appointment (whether by electlon or co-optionl a trustee shall retlre. They shall be eligible for re-appolntment provided that no trustee may continue to serve after six years In offite wlthout a period of at least a year out of office and no trustee may serve for more than nine years in total. For the purposes of this Article 131.11 a "yearf, shall mean a complete period of service between two annual general meetings. The Board may, from time to time, appoint a member of staff as a member of the Board either to fill a casual vacancy or by way of an additlon to the Board, subject to the provislons of the Articles of Association. Page 6
Greater London Volunteering known as London Plus Trustees, Report Trustee Inductlon and Tralnlng New trustees are provided with an induction on joining the Board and are encouraged to take up relevant trainlng and development to fulfil their role and responsibilities to London Plus. Trustees and offlcers The trustees and officers serving during the year and since the year end were as follows: Tru5tees'. Edward Anderton Adwoa Fadahunsi Jocelyn James (resigned 31 January 20241 Stephanie Hann Renae Mann Sarah Mulley Dominic Pinknev Jacob Przeklasa (resigned 24 September 20231 Rahul Sinha (resigned l August 2023) Chair: Sarah Mulley Rlsk Management The trustees review the risks to which the charity Is exposed and have set up a number of policies which the trustees. employed staff and volunteers must follow. The trustees believe that there are in place adequate contro15 and systems to mitigate any external and internal risks the charity may face. Organlsation Over the financial year London Plus sustained and grew its support for London's voluntary, community and falth sector. The staff team grew and strategic approaches were developed for research and data, and communications. The partnership with the Voluntary and Community Sector Emergencie5 Partrsership to support emergency response In London was the focus of a great deal of work - building up the team, putting In place systems and processes, and workplans. London Communities Emergences Partnership ILCEPI has established itself as a critical part of the wider London resilience and response infrastructure. London Plus continued to develop its profile, a5 a relatively young organisation, raising awareness of its work and drawing in more organisations to participate in the networks it hosts and leads. In challenging times for the voluntary and community sector IVCSI, London Plus has become a much- valued means of knowledge exchange, support and brlnglng VCS issues and insights to the attention of local and national government, and other funding bodies. Page 7
Greater London Volunteering known as London Plus Trustees. Report Management Day-to-day management Is delegated to a small staff team, led by a chief executive. Throughout this reporting period, the chief executive was Martin Brooke5, Flnancial Revlew London Plus remains crucially dependent on core funding from City Bridge Foundation. This funding allows the charity to maintain our core work with networks and the wider sector as well as to respond to the needs of charities and community groups in London lincluding In emergencies). Alongside new initiatives and responses to emergencies, City Brldge Foundation's funding enables us to continue to support the key infrastructure networks covering all 32 boroughs in London. This is a vital aspect of London Plus. Our networks are independent of any policy or funding initiative. Part of thelr value Iles In this independence. Thev are owned by the sector and they can be directly shaped and controlled by the sector and its needs. At the core of our approach is SUPPOrting the sector across the whole breadth of issues it faces. We are able to do this - be consistent, reliable, and valuable to the sector- because of multi-year core support from City Bridge Foundation. London Plus Is also dependent on the support of our other key funder. the GLA, which has funded key Initiatives as well as a contribution to the core work of London Plu5. Thi5 funding has allowed London Plus to run a soclal prescribing network a5 well as give out small grants to small local borough-based organisations. LCEP is funded via separate restrlcted grants from both City Bridge Foundation and the GLA, and has also received fundlng from London Councils in 2022123. LCEP funding for the entire partnershlp Is recelved by London Plus, with elements of the funding then distributed to other organisatlons lincludlng Brltlsh Red Cross who host VCSEPI. LCEP funding is also used to support the work of the London Boroughs Faith Network - under this arrangement London Plus acts as employer for one of Its team, and pays for the cost of activities. Our unrestricted reserves rose to £64,45312023.. £62,0511. Prudent runnlng of the organlzation enabled us to add to our reserves despite inflationary pressures. Nonetheless, our unrestricted reserves remain below the level that would be needed to manage an unexpected interruption in funding. The nature of London Plus's work and our funding makes it difficult to bulld further unrestricted reserves. If we receive funding and deliver work that allows U5 to extend the funding we receive in grant from City Bridge Foundation and others, this remalns restricted under the terms of these grants. LCEP funding is also restrlcted. It remains an ambition to build up unrestricted reserves. As the organisation develops and grows le.g. due to the recruitment of the new LCEP team), this need becomes more acute. Fundlng recelved In thi5 perlod City Bridge Trustfunding Funding from existlng City Bridge Foundation grants was used for the salarles of the Chief Executive, Networks Manager, Data and Research Analyst, Communications and Engagement Manager, Communications Officer and Operations Manager. It also covered central office costs and overheads. The grant in 2023124 was £175,000. the second of three years of funding covering 2022123 to 25126. Page 8
Greater London Volunteering known as London Plus Trustees, Report City Bridge Foundation agreed a grant of £642.$00 to support the development of LCEP. This is to be pald over the perlod 2022123 to 2025126. The payment in 2023124 was £232,610. This sum is shared with VCS Emergencies Partnership IVCSEPI, our partner in LCEP. £115,966 of the 2023124 year grant was paid to VCSEP. In addition. a Ismallerl portion of the funding will be on-granted to the London Boroughs Faiths Network {LBFNI. GLA funding We received the last scheduled £20,000 grant from the GLA to fund our 5UPPOrt for the London Recovery Board's "missions" specifically the mission 'Building Strong Communities" London Plus has been closely involved with this misslon as well as helping provide oversight of others among the nine in total. We retelved funding of £50,000 from the GLA for the Greater London Volunteering Strategy in this financial year. The GLA made a grant of £60,500 to support work on community resilience, The large majority of this1£53,724.671 was paid out in 11 small grants to local borough-based organlsations. A further round of £55,000 grant funding was also commltted as recorded In Note 3. We received a grant of £33,000 to 5UPPOrt the London Soclal Prescrlblng Network. Thi515 the second payment in a two-year grant. The GLA agreed a grant of £IOO,000 for LCEP over four years. This is to be paid over the period 2022123-2025126. The payment in 2023124 was £33,000. Reserves Pollcy The charity maintains reserves sufficient to enable it to fulfil its charitable objectives. The Board of Trustees regularly reviews the charitV'5 risk-ba5ed reserves policy. Loss of funding is deemed the greatest risk to the organisation and Ios5 of our primary funder could lead to the closure of the charity. The trustees are sat15fied that the £64,453 held In reserve5 at the end of the year Is sufficient to meet the costs of closure. Statement of trustees, responsibilities The trustees (who are also the directors of Greater London VolL¢nteering for the purposes of company lawl are responsible for preparing the trLtstees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard5 Iunited Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Flnancial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair vlew of the state of affairs of the charltable company and of the Incoming resources and application of resources, including Its Income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: select 5Ultable aceountlng policles and apply them consistently,. observe the methods and principles in the Charltles SORP; Page 9
Greater London Volunteerlng known as London Plus Trustees, Report make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the f inanclal statements on the golng concern basis unless It Is inappropriate to presume that the charitable company will continue in business. The trustee5 are responsible for keeplng proper accounting records that can disclose with reasonable accuracy at any time the financial posltlon of the charitable company 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 charitable company and hence for 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 charStable company's web51te. Leglslation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions, Small companles provlslon statement This report has been prepared In accordance with the small companies regime under the Companles Act 2006. The annual report was approved by the trustees of the charity on 5 December 2024 and signed on its behalf by: Sarah Mulley Chair and trustee Page 10
Greater London Volunteering known as London Plus Independent Examiner's Report to the trustees of Greater London Volunteering ('the Company,) I report to the charity trustees Iwho are also Directors for the purpose of company lawl on my examination of the accounts of the Greater London Volunteerlng I'the charitable company'l for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. 13 30 This report is made solely to the charity's trustees, as a body, In accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's trustees those matters l am required to State to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charlty's trustees a5 8 body, for my work, for this report, or for the opinions I have formed. Responslbllltles and basls of report As the charity's trustees of Greater London Volunteering you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of Greater London Volunteering are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examlnation, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charltles Act 20111'the 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 14515llbl of the 2011 Act. An independent examination does not Involve gathering all the evidence that would be required In an audit and consequently does not cover all the matters that an auditor conslders in giving their opinion on the financlal statements. The planning and conduct of an audit goes beyond the Ilmlted assurance that an independent examination can provide. Consequently l express no opinion as to whether the flnancial statements present a 'true and fairf view and my report Is limited to those specific matters set out in the independent examiner's statement. Independent examlnerfs statement Since Greater London Volunteering 's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I conflrm that l am qualified to undertake the examinatlon because l am a member of ICAEW, which is one of the listed bodles. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. l. accounting records were not kept In respect of Greater London Volunteering as required by sectlon 386 of the 2006 Act; or 2. the accounts do not accord wlth those records; or 3. the accounts do not comply with the accounting requlrements of section 396 of the 2006 Act other than anv requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination,. or Page 11
Greater London Volunteerlng known as London Plus Independent Examiner's Report to the trustees of Greater London Volunteering ('the Company,) 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practlce for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters In connection with the examination to whlch attention should be drawn in this report In order to enable a proper understanding of the accounts to be reached. Tim Sullivan FCA Field Sullivan Llmited 9 Hare & Blllet Road Blackheath SE3 ORB Page 12
Greater London Volunteering known as London Plus {Registration number: 04070342) Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets Tangible assets li 3,119 Current assets Debtors Cash at bank and in hand 12 47,051 251,681 61,204 282,944 13 298,732 344,148 Credltors: Amounts falllng due wlthln one year 14 130,3631 169,9891 Net current assets 268,369 274,159 Net asset5 271,488 274,159 Funds of the charlty: Restrlcted Income funds Restricted funds 207,035 212,108 Unrestricted Income funds Unrestricted funds 64,453 62,051 Total funds 16 271,488 274,159 For the flnancial year ending 31 Marth 2024 the charity wa5 entltled to exemption from audit under section 477 of the Companies Act 2006 relating to small companle5. Directors, responsibilities.. The members have not required the charlty to obtain an audit of its accounts for the year in questlon In accordance with section 476,. and The directors acknowledge their responsibilitles for complying with the requlrements of the Act with respect to accounting records and the preparation of accounts. The notes on pages 17 to 30 form an integral part of these flnanclal statements. Page 14
Greater London Volunteering known as London Plus (Registration number: 04070342) Balance Sheet as at 31 March 2024 The flnancial statements on pages 13 to 30 were approved by the trustees, and authorised for Issue on 5 December 2024 and signed on their behalf bv., Sarah Mulley Chair and trustee The notes on pages 17 to 30 form an integral part of these financial statements. Page 15
Greater London Volunteerlng known as London Plus Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash flows from operatlng actlvltles Net cash lexpenditurelllncome 12,6711 181,866 Adjustments to cash flows from non-cash Items Depreciation 1,040 11,6311 181,866 Working capltal adjustments Decrease/lincreasel in debtors IDecreasel/increase in creditors Decrease in deferred income 12 14,153 135,6261 14,0001 150,2671 45,326 165,0001 14 Net cash flows from operating activities 127,1041 111,925 Cash flows from investlng act5vltles Purchase of tangible fixed asset5 li 14,1591 Net Idecreasellincrease in cash and cash equivalents 131,2631 111.925 Cash arsd cash equivalents at l Aprll 282,944 171,019 Cash and cash equivalents at 31 March 251,681 282.944 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 17 to 30 form an integral part of these financial statements. Page 16
Greater London Volunteerlng known as London Plus Notes to the Financial Statements for the Year Ended 31 March 2024 I Charlty status The charity is limited by guarantee, Incorporated in England, and consequently does not have share capltal. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of Its registered office is.. 9 Hare & Billet Road Blackheath SE3 ORB These financial statements were authorised for issue by the trustees on 5 December 2024. 2 Accounting pollcles Summary of slgnlflcant accounting policies and key accountlng estlmates The prlncipal accounting policies applied in the preparatlon of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless Otherwise stated. Statement of compllance The financial statement5 have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitles preparing their accounts in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191 (Charities SORP IFRS 1021 Second edltion October 20191, the Financial Reportlng Standard applicable in the UK and Republic of Ireland {FRS 1021. They also comply with the Companies Act 2006 and Charities Act 2011. Basls of preparatlon Greater London Volunteering meets the definition of a publlc benefit entity under FRS 102. Assets and liabilities are inltially recognSsed at historical cost or transaction value unless Otherwise stated in the relevant accounting policy notes. Golng concern The trustees consider that there are no material uncertaintie5 about the charity's ability to contlnue a5 a going concern nor any signlficant area5 of uncertainty that affect the carrylng value of assets held by the charity. Page 17
Greater London Volunteerlng known as London Plus Notes to the Financial Statements for the Year Ended 31 March 2024 Judgements and key sources of estlmatlon uncertalnty In the application of the charity's accounting policles, the directos are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estlmates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in whlch the estimate is revised where revisions affects only that period. or In the period of the revision and future periods where the revisions affects both current and future periods. Income and endowments All income is recognised once the charity has entitlement to the income, it 15 probable that the income will be received and the amount of the Income receivable can be measured reliably. Grants receivoble Grants are recognlsed when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance condltlons are attached to the grant and are yet to be met. the income 15 recognised as a liability and included on the balance sheet as deferred income to be released, Deyerred income Oeferred income represents amounts received for future periods and Is released to incoming resources in the period for whlch, it has been received. Such income Is only deferred when.. The donor specifies that the grant or donatlon must only be used in future accounting periods: or The donor has imposed conditions which must be met before the charity has unconditional entitlement. Expendlture All expenditure is recognlsed once there is a legal or constructive obligation to that expenditure, it is probable settlement Is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be dlrectly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Page 18
Greater London Volunteering known as London Plus Notes to the Financial Statements for the Year Ended 31 March 2024 Roislngfunds These are costs incurred in attracting voluntary income, the management of Investment5 and those incurred in trading actlvities that raise funds. Charltable uctlvltles Charitable expenditure comprlses those costs incurred by the charity in the delivery of its activities and seNices 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. Support costs Support costs include central functlons and have been allocated to activlty tQSt categories on a basis conslstent wlth the use of resources, for example, allocatlng property Costs by floor areas, or per capita, Staff costs by the tlme spent and other costs by their usa8e. Taxation The charlty is con51dered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore It meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or galns are applied exclusively to charitable purpose5. Tanglble fixed assets Individual fixed assets costing £500.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accum¢Jlated Impalrment losses. Depreclatlon and amortlsatlon Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class Office equlpment Depreclatlon method and rate straight line over 4 years Page 19
Greater London Volunteerlng known as London Plus Notes to the Financlal Statements for the Year Ended 31 March 2024 Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transactlon price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors Is established when there is oblectlve evidence that the charity will not be able to collect all amounts due according to the original terms of the receivable5, Cash and cash equlvalents Cash and cash equivalents comprlse cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are SLtbject to an insignificant rlsk of change in value. Trade credltors Trade credltors are obligations to pay for goods or services that have been acquired In the ordinary course of business from suppliers. Account5 payable are classified as current liabilities if the charity does not have an unconditlonal right, at the end of the reportlng period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current Ilablllties. Trade credltors are recognised initially at the transactlon price and subsequently measured at amortised cost using the effective interest method. Borrowlngs Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, wlth the difference between the proceeds, net of transaction cost5, and the amount due on redemption being recognised as a charge to the Statement of Flnancial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowlngs are classified as curfent liabillties unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Page 20
Greater London Volunteering known as London Plus Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charlty, Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which 15 restricted to that area or purpose. Pensions and other post retlrement obligatlons The charity operates a defined benefit pension scheme.Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more fartors such as age, years of service and compensation. The Ilability recognised in the Balance Sheet in respect of defined benefit penslon plan5 15 the present value of the defined beneflt obligation at the reporting date mlnus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discountin8 the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denomirsated in the currency in which the benefits will be paid, and that have terms to maturity approximatlng to the terms of the related pension Ilabllitv. Actuarial gains and 1055es are charged or credited to other comprehensive income in the period in which they arise. Page 21
Greater London Volunteerlng known as London Plus Notes to the Flnancial Statements for the Year Ended 31 March 2024 3 Income from donations and legacles Restrlcted tunds Total 2024 Total 2023 Grants, including capital grants,. City Bridge Trust- Core City Brldge TrL¢St- Inflation City Bridge Trust- LCEP City Bridge Trust - Diversity GLA Social Prescrlblng GLA-Grants 175,000 175,000 200,000 15,703 65,330 3,600 33,000 115,500 17,000 17,000 20,000 232,610 232,610 55,000 55,000 GLA- LCEP 33,000 33,000 GLA- London Lifelines GLA- Matched funding GLA- Community Resilience GLA-Training GLA- London Volunteering Strategy Group London Council 112,750 10,000 70,000 112,750 10,000 70,000 25,000 36,516 6,036 National Academy for Soclal Prescrlbing Other small grants 4,000 4,000 692,360 692,360 554,685 4 Income from charltable ¥ctivltles Unrestrlcted funds General Total 2024 Other income 65 65 Page 22
Greater London Volunteering known as London Plus Notes to the Financlal Statements for the Year Ended 31 March 2024 5 Expendlture on ralslng funds al Costs of generatlng donatlon5 and legacles Tot¥1 2024 Total 2023 Note Fundraislng costs 7,815 6 Expendlture on charltable actlvltles Total 2024 Total 2023 Note Other direct costs 1,152 98,921 7,705 2,453 Project costs Recruitment 262,6S8 27,277 70,291 426 Consultancy Staff tralning Equipment repairs and renewals Computer software and maintenance Subscrlptlon5 Conference 412 14,258 6,145 3,356 1,008 297.315 12,355 647 2,628 263 Travel and subslstence Staff costs Support Costs 235,297 15,526 695,096 365,004 Page 23
Greater London Volunteerlng known as London Plus Notes to the Financial Statements for the Year Ended 31 March 2024 7 Analysls of support costs Total 2024 Total 2023 Rent and rates 1,739 754 2,830 Insurance Office expenses Sundries 1.417 418 7,406 Advertlsing Accountancy The audit of the charity's annual accounts Independent examination Bank charges Depreciation of office equipment 42 27 4,057 3,793 1,470 2,580 308 1,040 12,355 15,526 Trustees remunerotion and expenses No trustees, nor any persons connected with them, have received any remuneration from the charlty during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 9 Staff cost5 The aggregate payroll costs were as follows: 2024 2023 Staff costs durlng the year were: Wages and salaries Social security costs Pension c05tS 263,219 22,639 11,457 224,618 10,679 297,315 235,297 Page 24
Greater London Volunteering known as London Plus Notes to the Financlal Statements for the Year Ended 31 March 2024 The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows.. 2024 No 2023 Charitable activities 612023 - 61 of the above employees participated in the Defined Contribution Pension Schemes. The chief executive offlcer, as the highest paid member of staff, recelved benefits totalling £79,826 12023 £78,154). 10 Taxatlon The charity is a registered charity and Is therefore exempt from taxation. 11 Tanglble flxed assets Furnlture and equlpment Total Cost At l April 2023 Additions 2,726 4,159 12,7261 2,726 4,159 12,7261 Disposals At 31 March 2024 4,159 4,159 Depreclatlon At l April 2023 Charge for the year Eliminated on disposals 2.726 1,040 12,7261 2,726 1,040 12,7261 At 31 March 2024 1,040 1,040 Net book value At 31 March 2024 3,119 3,119 At 31 March 2023 Page 25
Greater London Volunteering known as London Plus Notes to the Flnancial Statements for the Year Ended 31 March 2024 12 Debtor5 2024 2023 Trade debtors 57,750 704 2,750 Prepayments Accrued income 551 46,500 47,051 61,204 13 Cash and cash equlvalents 2024 2023 Cash at bank 251,681 282,944 14 Credltors: amounts falllng due withln one year 2024 2023 Trade creditors 22,884 2,098 5,381 61,106 1,453 3,430 4,000 Other creditors Accruals Deferred income 30,363 69,989 15 Penslon and other schemes Defined contributlon penslon scheme The charity operates a defined contrlbution pension scheme. The pension cost charge for the year represents contribution5 payable by the charity to the scheme and amounted to £11,45712023 - £10,679). Page 26
Greater London Volunteering known as London Plus Notes to the Financlal Statements for the Year Ended 31 March 2024 16 Funds Balance at 31 March 2024 Balance at I Aprll 2023 Incomlng resources Resources expended Transfers Unrestricted funds Generol General Funds 62,051 65 2,391 1541 64,453 Restrlcted funds City Bridge Trust GLA - Social Prescribing GLA - Small Grants 83,472 1,242 19,830 6,932 8,563 92,069 175,000 55,000 {242,5531 138,8081 119,8301 16,986) 18,5631 {245,2471 1115,5001 15,919 17,434 GLA- London Lifelines NASP S4 LCEP 279,610 112,750 126,432 12,7SOI GLA - Communlty Resilience GLA - London Volunteering Strategy 70,000 120,0001 50.000 212,108 692,360 1697,487} 54 207,035 Total funds 274,159 692,425 (695,0961 271,488 Page 27
Greater London Volunteering known as London Plus Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at I April 2022 Incomlng resources Resources expended Balance at 31 March 2023 Unrestrlcted fund5 General General Funds 46,348 15,703 62,051 Restrlcted funds City Bridge Trust Matched Funding GLA - Social Prescribing GLA - Small Grants 200,000 29,636 33,000 115,500 17,000 36.516 107,330 1116,5281 129,6361 137,4041 199,6701 110,0681 164,2521 115,2611 83,472 5,646 4,000 1,242 19,830 6,932 8,563 92,069 GLA - London Lifeline5 NASP 36,299 LCEP 45,945 538,982 1372.8191 212,108 Total funds 92,293 554,685 1372,8191 274,159 Page 28
Greater London Volunteerlng known as London Plus Notes to the Financial Statements for the Year Ended 31 March 2024 The specific purposes for which the funds are to be applled are as follows.. City Bridge Trust funds for 5alarie5 and running costs. GLA - Social Prescrlblng - funds from Greater London Authority toward5 the 'London Social Pescribing Network, project. GLA - Small Grants- funds from Greater London Authorlty towards 'Building Stronger Communities, programme. GLA- London Lifelines - funds from Greater London Authority toward5 'London Lifelines, projett. NASP funds from National Academy for Social Prescribing to support the 'NASP Thriving Cummunities, programme. LCEP funds from City Bridge Trust and Greater London Authority to support the wok of the London Community Emergencies Partnership. GLA- Community Re511ience - funds from Greater London Authority towards 'Communlty Resilience Fund, prolect. GLA - London Volunteering Stategy - funds from Greater London Authority towards 'London Volunteering Stategy group and Vision for Volunteering, project, Page 29
Greater London Volunteerlng known as London Plus Notes to the Financial Statements for the Year Ended 31 March 2024 17 Analysls of net 455ets between funds Unrestricted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed assets Current assets 3,119 91,697 130,3631 3,119 298,732 130,3631 207,035 Current liabllities Total net asset5 64,453 207,035 271.488 Unrestrlcted funds General Total funds at 31 March 2023 Restrlcted tunds Current assets 132,040 169,9891 212,108 344,148 169,9891 Current liabilities Total net assets 62,051 212,108 274,159 18 Related party transactlons Due to GVL'S Status as an umbrella body for Lodon based volunteer centres, a number of GLV trustees are Involved with the governance/management of these organisations. The work of GLV is such that a number of transactions arose with some of these organisatlons as part of its routine charitable activity on several contracts. The trustees are satisfled that all such transactions have been carried out on an arm's length basis. Page 30