Charity registration number 1122980 Company registration number 05814032 (England and Wales) BROMSGROVE AND REDDITCH NETWORK ANNUAL REPORT AND INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BROMSGROVE AND REDDITCH NETWORK LEGAL AND ADMINISTRATIVE INFORMATION Trusteos Mrs K Jones MrJ Cochrane Ms J Morris Mrs Y Rendell Mrs F Mitchell Dr B Costello MrA Hopkins Secretary Mr G P Roskell Charity number 1122980 Company number 05814032 Registered office Community House 103 Easemore Road Redditch Worcestershire B98 8EY Independent examiner Colm McGrory FCA Bankers Unity Tnjst Bank plc Four Brindleyplace Bimiingham 812JB
BROMSGROVE AND REDDITCH NETWORK CONTENTS Page Chairfs Report Truslees, report Independent examinerfs report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 1¢>19
BROMSGROVE AND REDDITCH NETWORK CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 2023-2024 has largely been a successful year of operation for BARN, with one or surprises on the way. The Community Workers Lunch, in partnership wilh the Community Workers Network and Redditch Dislrict Collaborative, has continued and a separate group, Community Workers Bromsgrove, has just begun. This gives frontline workers in both towns an opportunity to come together and share experiences. NeOrk and board meetings continue using a hybrid model. The Volunteer Centre activities carry on with new branding being rolled out and despite problems with the Do-lt website (national volunteering website) as they moved unexpectedly to a new model. The BURT (Bromsgrove Urban and Rural Transport) service is now virtually back to normal having overcome some staffing problems early in the year. BARN conlinues to deliver the ABCD (Assel Based Community Development) initialive in Redditch, where communities, strengths are built on, rather than being defined by Iheir deficits. We employ community builder posts. one in Abbeydale (now expanding into the area around Sl Georges school) and one in Woodrow. Both also cover Redditch working particularly with minority communities. BARN is also the fundholder for the Reimagine Redditch - Creative People and Places project. which started in April 22 and goes on until March 2026. All the posts have now been recruited, with the workload remaining significant. but manageable. BARN has begun the registration process for Gift Aid, but this is taking a long time to be sorted out. RCNT (the charity that ran Community House) no longer has the lease. The Council is now the direct landlord and we have reached agreement to have a small discount on our rent to do minor jobs in the property and the ability to invoice if tasks become too onerous. A lot of time has been spent looking for new suitable premises and the Old Needle Works was looking a likely contender. However. they decided to go with another lenant and so the process of finding a suitable property continues. The financial position of the charity is more secure for the next few years, because of the large projects described above. Fundraising efforts are conlinuing though to ensure that we stay in a good position. We are grateful to a range of organisalions, companies and foundations that have provided funding over the years. We continue to work closely with Redditch BC and Bromsgrove DC and their support and funding for parts of our work continues to be welcome. I would like to thank all our members. volunteers, trustees and staff for their support, hard work and commitment over the lasl 12 months. As part of our governance arrangements, we regularly review the skills base of our Irustees to ensure effective experience and knowledge exists within our trustee body and those skills have been extremely valuable to help us through Ihe year. We maintain an up to date risk managemenl register and review our financial position at each meeling. As Trustees leave Ihe organisation from time to time, we do welcome anyone suitable wishing to join the Board. In conclusion, we look fOard to how BARN can conlinue ils role in supporting volunteers. voluntary organisations and communities in 2024125. Yvonne Rendell CITP MBCS Chair Dated: 18 Dember 2024
BROMSGROVE AND REDDITCH NETWORK TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report and financial statements for the year ended 31 March 2024. The accounts have been prepared in accordan with the accounting policies sel out in note 2 to the accounts and comply with the charity's memorandum and articles of association, the Companies Act 2006 and'Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as effective from 1 January 2019). Objectives and activities To promote any charitable purposes for the benefit of the communities in the areas of Bromsgrove and Redditch local authority areas. in particular Ihe advancement of education, protection of heallh, relief of poverty. distress and sickness. Significant Actlvities Bromsgrove and Redditch Neork (BARN) is a network supporting volunteers, voluntary organisations and communities across Bromsgrove and Redditch. BARN is the local Council for Voluntary SeNice, and also runs the Volunteer Centre for Bromsgrove and Redditch and a range of local community projects. We represent the local volunlary sector, support local communities, and help with networking. information, funding and volunteering. Where we see a gap in provision we try lo help through delivery or partnerships. BARN has been supporting local communities for over 25 years. NeOrk su ort activities BARN has a broad range of Bromsgrove. Redditch and countywide groups as members, more than 90 across the area. Network meetings have remained a popular way to support the sector by providing an opportunity for VCS colleagues to meet each other and share information. We continue using a hybrid model, allowing for both fa lo face and virtual participation. Introduced during the pandemic. this allows organisations that slruggle to get to meetings lo participate fully. BARN continues its partnership with the Community Workers. Network and Redditch District Collaborative to run the Community Workers. Lun¢h.an opportunity for frontline workers to meet and talk. This proved so useful in Redditch that BARN launched Community Workers Bromsgrove, and those meetings have proved extremely popular. The Funding Newsletter continues to be extremely helpful to our members, and the fijnding portal that is free for all local VCS lo use. In January we held a Funding Fair at the Kingfisher Centre in Redditch, attended by a range of funders and VCS organisations from across the area. BARN was also successful in applying for funds to run a comprehensive training package for volunteers and the VCS, including Safeguarding, First Aid, First Aid for Mental Health. and Food Hygiene. During the year BARN continued to work closely with other Councils for Voluntary Service and Volunteer Centres across Worcestershire to strengthen the voice of the grassroots VCS through Worcestershire Community Action Network {WeCAN) and share best practice. As Redditch is a non- constituent authority in the Wesl Midlands Combined Authority we also lalk to other CVSS in the region representing the local voluntary sector to the Authority. We are also a key member of the new wOrstershIre VCSE Alliance. a countywide neork wilh a health and wellbeing focus. Volunleer Cenlre We are the only accredited Volunteer Centre in WorGestershire, and were one of the first in the country to achieve the new standard. We continue lo promote volunteering and help match volunteers with appropriale opportunities, and regularly attend community evenls to promole our work. Our Volunteer Managers, Forum offers a chance for volunteer managers to come logether to share their experience and besl practice. We conlinued to develop projects lo build on the experienGe of the Volunteer Centre. Our Skills for Work volunteering helps residents across Bromsgrove and Redditch use volunteering as a stepping stone into employment, boosting confidence, gaining experience, and learning new skills. We work closely with the Job Centres in both areas to help their clients use volunteering to improve their employability. Our Live.Grow.Su¢ceed. project is designed to encourage more young people to volunteer, and its dedicated website livegrowsucceed.org hosts young people's volunteering stories.
BROMSGROVE AND REDDITCH NETWORK TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Communit Activities BURT (Bromsgrove Urban and Rural Transport) is a community transport minibus in Bromsgrove for those who can't get about on their own. Numbers continued to grow after the pandemic, with numbers approaching pre- COVID levels. The service remains popular, and a vital lifeline to our passengers. BARN continued to deliver Asset Based Community Development in Redditch. The project employs community builders lo support people lo initiate and lake ownership of activities in Iheir communities, focused around the neighbourhoods of Abbeydale and Woodrow. and also supporting Minority Communities. The results of this programme are often unexpected. but hugely rewarding as the community takes control of its own projects. Reimagine Redditch, a four yearArts Council England funded project in Redditoh, began in April 2022. BARN is the fund holder for the project. and employ ihe staff team, working closely with other members of the Consortium that run the project. In Bromsgrove we continued to coordinate the Support Bromsgrove partnership that came together as a result of COVID. and the resources on Ihe website supportbromsgrove.com were developed to respond to cost of living pressures. BARN also ran a number of grant schemes on behalf of funders, and frorn time to time holds money on behalf of organisations that have no suitable account. One of Ihe saddest duties of BARN during the year was overseeing the winding down of Redditch Common Neighbourhood Trust, the charity that had overseen Community House for so many years, and where BARN is based. Previously a lively community hall and building, the devastating news that the local Council will be going ahead with plans to sell the site meant the charity needed to close when the lease reverted back to the Council. BARN. like the other charities and community groups based there, is searching for a new home. BARN'S role in supporting the voluntary and community sector across Bromsgrove and Redditch, and its communities. remains as vital as ever. The support from our partners and funders. and the contributions of Redditch Borough Council, Bromsgrove District Council, the local strategic partnerships. continue to be vital to BARN and the work it does. BARN'S success has been, as always, reliant on the hard work and dedication of its members. trustees, staff and volunteers. and we remain proud supporters of the work of our communities and VCS organisations across Bromsgrove and Redditch. Public benefit In setting the objectives, Ihe trustees have given careful consideration to Ihe Charity Commission's general guidance on public benefil and in particular to its supplemenlary public benefit guidance on advancing education. Achievements and perfornian¢e Financial review During the year the charity made a net surplus of£121,182 {2023- net surplus of £75,749). At the year end the charity had nel assets of £449,803 (2023 - net assets of £328.621). Reserves policy The trustees consider that unrestricted reserves be held at a level approximately equal to between 1 and 3 months expenditure in order to be able to cover day to day running costs in the unlikely event that future incoming resources are either delayed or unduly cease. Structure, governance and managernent Governing document The charity is controlled by its goveming document. its Memorandum and Articles of Association. and constitutes a privale company. limited by guarantee, as defined by the Companies Act 2006.
BROMSGROVE AND REDDITCH NETWORK TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Mrs K Jones Mr J Cochrane Ms J MolS Mrs Y Rendell Mrs F Mitchell Dr B Costello MrA Hopkins Recruitment and appolntment of new trustees Trustees can co-opt new trustees, members must vote to confirm the appointment of the new trustee at the AGM. Risk management The trustees have a duty to identify and review the risks to which the charily is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. statement of Trustees. responsibilities The Trustees, who are also the directors of Bromsgrove And Red(Jilch Nefyvork for the purpose of company law, are responsible for preparing the Trustees, Report and Ihe financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for thal year. In preparing these financial statements, the Tnjstees 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, subjecl to any material departures disclosed and explained in the financial statements: and prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the harity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Th Trustees, report was approved by the Board of Trustees. Yvonne Rendell C Chair Dated.. 18 December 2024
BROMSGROVE AND REDDITCH NETWORK INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BROMSGROVE AND REDDITCH NETWORK I report to the Trustees on my examination of Ihe financial slatements of Bromsgrove And Redditch Network (the charity) for the year ended 31 March 2024. Responsibilities and basis of report As the Trustees of the charity {and also ils directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance wilh the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial slatemenls of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 {the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of FCA, which is one of the listed bodies. I have completed my examination. I confirm Ihat no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respecl of the charity as required by seclion 386 of the 2006 Act- or the financial statements do not accord with those records; or the financial statements do nol comply with the accounting requirements of section 396 of the 2006 Act 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.. or the financial statements have not been prepared in accordance with the methods and principles of Ihe Statement of Recommended Pradice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no COnrn$ and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Colm McGrory FCA Ormerod Rutter Limited The Oakley Kidderminster Road Droitwich Worcestershire WR9 9AY Dated.. 18 December 2024
BROMSGROVE AND REDDITCH NETWORK STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Charitable activities Other trading activities Investments 75,774 2,150 868 523.506 599.280 2,150 868 66,993 2,135 267 307,193 374,186 2,135 267 Total income 78.792 523,506 602,298 69.395 307,193 376,588 Ex endlture on: Charitable activities 81,590 399,526 481,116 134,097 166,742 300,839 Net {expenditure)lincome for the yearl Net movemenl in funds {2,798) 123,980 121.182 (64,702) 140,451 75,749 Fund balances at 1 April 2023 59,095 269.526 328,621 123.797 129,075 252,872 Fund balances at 31 March 2024 56,297 393,506 449.803 59.095 269,526 328,621 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
BROMSGROVE AND REDDITCH NETWORK BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets Current assets Debtors Cash at bank and in hand 14 7,435 9,913 15 2,328 449.606 2.071 324,766 451.934 326,837 Creditors: amounts falling due within one year 16 (9,566) (8.129) Net current assets 442,368 318,708 Total assets less current liabilities 449,803 328,621 Income funds Reslricted funds Unrestricted funds Designated funds General unrestricted funds 21 393,506 269,526 19 20 45,500 10,797 29,500 29,595 56.297 59.095 449.803 328,621
BROMSGROVE AND REDDITCH NETWORK BALANCE SHEET (CONTINUED) AS A T31 MARCH 2024 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The Trustees acknowledge their responsibilities for ensuring Ihat the charity keeps accounting records which comply wilh section 386 of the Act and for preparing financial statements which give a true and fair view of the slate of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expendilure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial slatements were approved by the Trustees on 18 December 2024 Andrewi Treasurer opkins Company Registration No. 05814032
BROMSGROVE AND REDDITCH NETWORK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 18 123,972 77.634 Investing activities Investment income received 868 267 Net cash generated from investing activities 868 267 Net cash used in financing activitles Net increase in cash and cash equivalents 124,840 77,901 Cash and cash equivalents at beginning of year 324,766 246,863 Cash and cash equivalents at end of year 449,606 324,766
BROMSGROVE AND REDDITCH NETWORK STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accounting estimates and judgements In the applicalion of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other Sour$. The estimates and associated assumptions are based on historical experience and olher factors that are considered lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Accounting pollcles Charity information Bromsgrove And Redditch NeOrk is a private company limited by guarantee incorporated in England and Wales. The registered office is Community House, 103 Easemore Road. Reddilch, Worcestershire, B98 8EY. 2.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}. (as effective from 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update BulSetin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling. which is the functional currency of the charity- Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cosl convention. The principal accounting policies adopted are set out below. 2.2 Going concern At the time of approving the financial statements. the Trustees have a reasonable expectation thal the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 2.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific wnditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial statements. 2.4 Incoming resources All incoming resources are included on Ihe Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 2.5 Resources expended Expenditure is accounted for on an accruals basis and has been classified under headings thal aggregate all cost related lo the category. Where costs cannot be directly attributed to particular headings they have been allocated to activilies on a basis consistent with the use of resources. -10-
BROMSGROVE AND REDDITCH NETWORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 2.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cosl or valuation of assets less their residual values over their useful lives on the following bases= Computer equipment Motor vehicles 3 year straight line 250/c reducing balance The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statemenl of financial activities. 2.7 Impairment of fixed assets At each reporting end date. the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 2.8 Cash and cash equivalents Cash and cash equivalenls include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 2.9 Taxation The charity is exempl from corporation tsx on its charitable activities. 2.10 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Charitable activities 2024 2023 Income within charitable aclivilies 599,280 374,186 Analysis by fund Unrestricted funds Restricted funds 75.774 523,506 66,993 307.193 599.280 374,186 -11-
BROMSGROVE AND REDDITCH NETWORK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investrients Unrestricted Unrestricted funds funds 2024 2023 Other income 868 267 Other material income During the year, the charity reiVed funds of £13,465 from Worcestershire County Council, Worcestershire County Council's divisional funds and other donors. for running the Community Stories scheme and for the activities of Bromsgrove Pride. These funds are classed as managed funds by the charity and are held by Bromsgrove and Redditch Nemork, the balance in the remaining funds account at the year end is £22.192. In the prior year the charity received funds of £8,580 from Redditch Borough Council and Bromsgrove Dislrict Council for running Community Clean Up and Social Prescriber schemes, as well as from Bromsgrove Pride relating to their aclivilies. The balance remaining al year end was £23,824. Both the income and the corresponding expenditure relating to managed grants has been excluded from the ststement of financial activities. Other trading activities 2024 2023 Memberships 2.150 2,135 -12-
BROMSGROVE AND REDDITCH NETWORK NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charltable activities 2024 2023 Direct costs Staff costs Depreciation and impairmenl Office costs Insurance Project cosls Sundries 318,750 2,478 6.018 2,482 150.512 180 189,133 3,395 7,786 2,174 97.465 214 480,420 300.167 Share of support and governance costs {see note 9) Governance 696 672 481,116 300.839 Analysis by fund Unreslricted funds Restricted funds 81,590 399,526 134.097 166,742 481,116 300.839 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl{crediting)'. Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets 696 2,478 672 3,395 Support costs allocated to activities 2024 2023 Governance costs 696 672 Analysed between: Unrestricted 696 672 Governance costs include £696 of Independent Examiners fees. (2023= £672). 10 Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefils from the charity during the year. -13-
BROMSGROVE AND REDDITCH NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Independent examiner's remuneration The analysis of independent examiner's remuneration is as follows.. 2024 2023 Independent examination of the charity's annual accounts 696 672 12 Employees Number of employees The average monthly number of employees during the year was: 2024 Number 2023 Number Staff 13 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 292.297 17,933 8.520 175.595 8,595 4,943 318,750 189,133 There were no employees whose annual remuneration was £60,000 or more. 13 Taxation The charity is exempt from taxation on its activities because all its income is applied for Gharitable purposes. -14-
BROMSGROVE AND REDDITCH NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Tangible fixed assets Computer Motor vehicles equipment Total Cost At 1 April 2023 Disposals 361 (361) 34,975 35,336 (361) At 31 March 2024 34,975 34,975 Depreclation and impairment At 1 April 2023 Depreciation charged in the year Eliminated in respect of disposals 361 25,062 2,478 25,423 2.478 {361) (361) At 31 March 2024 27.540 27,540 Carrying amount At 31 March 2024 7,435 7,435 At 31 March 2023 9,913 9,913 15 Debtors 2024 2023 Amounts falling due within one year: Prepayments and accrued income 2,328 2,071 16 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Other creditors Accruals and deferred income 5,725 3,145 696 4,502 2,973 654 9,566 8,129 17 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 8,520 4,943 The charity contributes to defined contribution pension schemes for all qualifying employees. The assets of the schemes are held separately from those of the charity in independently administered funds. -15-
BROMSGROVE AND REDDITCH NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Cash generated from operations 2024 2023 Surplus for the year 121.182 75,749 Adjustments for= Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (868) 2,478 (267) 3,395 Movements in working capital.. (Increase) in debtors Increasel(decrease) in creditors {257) 1,437 (133) (1,110) Cash generated from operations 123,972 77,634 -16-
BROMSGROVE AND REDDITCH NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Designated funds Designated funds are distinct funds which have been set aside from the unreslricled funds by the trustees for specific purposes, and are not available for general use. At 1 April 2023 Incoming resources Resources At 31 March expended 2024 Minibus fund BARN Relocation 29,500 6,000 10,000 35,500 10,000 29.500 16,000 45.500 Previous year: At 1 April 2022 Incoming resources Resources At 31 March expended 2023 Minibus fund 14.000 15,500 29.500 Minibus Fund funding for the purchase of a minibus to be used within the charity. BARN Relocation funding for the relocation of charily aclivilies to new premises. 20 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donation and grants which are not subject to speific conditions by donors and grantors as to how they may be used. At 1 April 2023 Incoming resources Resources expended Transfers Gains and At 31 March losses 2024 General funds 29.595 62,792 (81,590) 10,797 Previous year: At 1 April 2022 Incoming resources Resources expended Transfers Gains and At 31 March losses 2023 General funds 109,797 53,895 (134,097) 29,595 -17-
BROMSGROVE AND REDDITCH NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Restricted funds The income funds of the charity include reslricled funds comprising the following unexpended balances of donations and grants held on trust for specific purposes= At 1 April 2023 Incoming resources Resources At 31 March expended 2024 Redditch Borough Council - Community Builder Granl Arts Council England - Reimagine Redditch WFDC- ApprentIShIp Support Arts Council England - Reimagine Redditch Redditch Borough Council Volunteer Centre Baron Davenport- Community Minibus Worcestershire County Council - Bus Pass Discount Scheme 133,276 136,250 97.339 385,771 1,500 12,267 13,020 1,500 (92,4751 (266,655) (1,500) (12,267) (13,020) (1,500> 138,140 255.366 12,109 (12,109) 269,526 523,506 (399.526) 393,506 Previous year: At 1 April 2022 Incoming resources Resources At 31 March expended 2023 Bromsgrove Districl Council Redditch Borough Council - Community Builder Grant Arts Council England Baron Davenport National Association of Voluntary and Communily Action Worcestershire County Council ASDA Community Foundation 1.945 (1,945) 128,875 99,339 185,000 1,500 (94,938) (48,750) (1.500) 133,276 136.250 5.000 14,109 300 {5.000> (14,109) (500) 200 129,075 307.193 166,742 269.526 -18-
BROMSGROVE AND REDDITCH NETWORK NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Restricted funds {Continued} Redditch Borough Councll - Community Builder funding to deliver asset based community development. Arts Council England- Reimagine Redditch funding to support the CPP project relating to Redditch Reimagined. WFDC - Apprentlcaship Support fvnding lo support development of an apprenticeship role within the chaTIty- Bromsgrove District Council - Volunteer Centre funding to support the training programme and Volunteer Centre function in Bromsgrove. Redditch Borough Council - Volunteer Centre funding to support the training programme and Volunteer Centre function in Redditch. Baron Davenport- Community Minibus funding for the running ofthe BURT community minibus. Worcestershire County Council - Bus Pass Discount Scheme fundirbg from the bus pass discount scheme and a project to encourage people back to community transport. 22 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Totsl 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) 7.435 48,862 7,435 442,368 393.506 56,297 393,506 449,803 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assels Current assetsl(liabilities) 9,913 49,182 9,913 318.708 269.526 59.095 269,526 328,621 23 Related party transactions There were no disclosable related paty transactions during the year (2023 - none). -19-