Charity registratlon number 1123173 Company registration number 05558271 (England and Wales) VALLEY CIDS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
VALLEY CIDS LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees P R Whitaker B J Cupples D M lIaker N J Hambley J Brook J Potter O Howe (Appointed 20 September 2023) {Appointed 31 October 2023) Chlef Executlve l Tannahill Charlty number 1123173 Company numb8r 05558271 Rogi8tered offieA 13- 14The Green Swanwick Alfreton Derbyshire DE55 1BL Audltor Azets Audit se1$ Westpolnt Lynch Wood Peterborough Cambridgeshire United Kingdom PE2 6FZ Bankers virgin Bank 26 West Gate Mansfield Nottinghamshire NG18 1HS
VALLEY CIDS LIMITED CONTENTS Page Trustees, report 1-13 Statement of trustees. responsibilities 14 Independent audilorfs report 15-17 Statement of financial activities 18 Balance sheet 19 Statement of cash flows 22 Notes to the financial statements 23-37
VALLEY CIDS UMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees of the charitable company (who for the purposes of the Companies Act are also the directors of the company) present their report with the audited consolidated financial slatemenls for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charilable company's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {effeclive 1 January 2019)". Objectives and activities The principal activity of the charity is to demonstrate the Christian faith by reaching out with God's love through outreach work in schools and the wider community that supports children. young people, and families. enabling them to raise their aspirations and realise their full potential. In the past year. the work of Valley CIDS has continued to grow, developing into an exiended family of projects and initiatives, which together have enabled us to effectively achieve our mission. In this report, we want to give you an insight into the positive difference we have been making to the lives of children, young people, and families. Our projects are located across Derbyshire and Nottinghamshire, and wework in many different communities across both counties. We are grateful for the energy, commitment and compassion demonstrated by our staff and volunleers. This is what brings our vision and values to life, transforming them from just words and ideas, into a relational realily that is experienced by those we support. The Charity benefits greally from a strong volunteer base of over 350 people who support the operation of the Lighthouse Charity shops, the Saltpot café, the Children's Work and the Youth Work. Who we are Valley CIDS is an independent Christian charity based throughout Derbyshire and Nottinghamshire. We are dedicated to supporting communilies by investing in the next generation. Our mission is: 'To build and strengthen community through serving, inspiring and equipping children. young people and families to develop their full potential in society today. For 24 years, our vision and impact has steadily grown and evolved. From modest, yet ambitious, beginnings in 2000, Valley CIDS has become a well-established and respected charity supporting children. young people. and families. We believe that by 'investing in the next generation, we can make a positive difference to the lives of children and young people and their families. An investment of time, energy and money sets in place strong foundations giving children the best possible chance in life. To support our work, we raise income through our retail portfolio of Lighthouse Charity Shops. which are located throughout Derbyshire and Nottinghamshire. Ethos and Values As a Christian organisation, Valley CIDS believes that the successful delivery of its mission happens when people feel they belong and have a role, and where an inclusive community and family atmosphere are fostered. Our values of hope, belonging, compassion and inclusion embody our overall vision for the future and are what we aspire to in all aspects of our work. Hope We want to journey with people, providing opportunities that enable them to embrace new possibilities and realise a brighter future. Compassion We are actioned to be person-centred and holistic in our support. treating olhers with kindness, empathy, and respect.
VALLEY CIDS UMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Belonging We want people to experien a sense of Community and meaningful connection, through which they feel supported, valued, and included. Inclusion We recognise that everyone has the right to be seen, to be heard and to belong, and we commit to fostering a culture where diversity is celebrated. Achievements and performance General Throughout this past year, Valley CIDS has remained committed to ils mission of building and strengthening community through serving, inspiring and equipping children. young people and families lo develop their full polential. This report will provide some insight inlo the continued development of our many projecls and the launch of new initiatives that enable us to fulfil this mission. This has included the opening of new Lighlhouse Charity Shops. which are so important to our ongoing suslainability and growth. In line wilh last year's plan, in Oclober 2023. we also successfully appointed a new Head of Finance role. This appointment has helped to strengthen our operational infrastructure and has significantly contributed to strengthening our finance function, particularly in relation to working with departmental heads lo develop more robust budget and spending plans and to identify areas of cost savings Ihrough more rigorous financial conlrol. We have also made Iwo new appointments to our Board of Directors, whose additional experience, and skillsets, have helped lo further strengthen our govemance. We have continued to invesl in our marketing and communications strategy through accessing the ongoing services of a Marketing and Communications consultant. Of particular significance for us in this respect was the publication of our firsl Impact Report, which has proved to be an invaluable way for us to foster deeper relationships with our supporter base and to Introdu others to our work. This past year has also been a time ofjourneying deeper into the meaning and expression of our values of Hope, Compassion, Belonging and Inclusion, ensuring that they are embedded, and expressed throughout our work. As a Chrislian charily, we believe passionately that the successful delivery of our mission happens when people feel they belong, have purpose and where an inclusive community and family atmosphere is fostered. As a board we have continued to commit to meeting regularly to ensure Ihe close monitoring of the financial resilience of the charity lo ensure that we have a solid and sustainable position to move fotward from. We have also continued to carry out a robust review ofour risk management, health and safety and safeguarding practices across the charity as part of our commitment to ensuring that we maintain a commitment to the due diligence required for these core areas that support our charity activity. Retail The Lighthouse Charity Shops have continued to play a vital role in generating the funds necessary io support our work with children, young people, and families across Derbyshire and Nottinghamshire. Without the income from these shops. we would nol be able lo continue delivering the services we provide. We have had yel another successful year achieving a 14.39 /0 increase in sales, which includes trading income, donations, and associated gift aid. In the past year we have also expanded, welcoming new stores to our portfolio, Teal Park near Nottingham and South Nomianlon in Derbyshire. Both new shops have had a fantastic first year of trading and have been warmly welcomed by their respective local communities. It was wonderful to see children from local primary schools help to open these new shops, and many local residents have been eager lo volunteer, donate items, and shop with us. We are passionate about engaging with local communities through our charity shops and have been thrilled to connecl with those surrounding our new shops. For example, our Teal Park shop team have formed a close partnership wilh Rivendell Flying High Academy, participating in school assemblies and events like World Book Day, where we dislribuled books lo children as part of the Valley CIDS Greal Book Giveaway initiative.
VALLEY CIDS UMrrED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 "Rivendell Flying High Academy has loved working in partnership with Valley CIDS across a wide range of events and activities. We are already looking forward lo slrenglhening this relationship fijrther next year. Miss Newson, Deputy Head at Rivendell Flying High Academy Another significant achievement for retail in the past year was launching the new and improved 'Retail Operations Manual,. The planning, implementation and launch of this took from start to finish around six months. We hosted interactive training sessions across a five day period for all retail staff. to help refresh our workforce on policies and procedures as well as sharing best practice and celebrating our success. Links beeen our retail operalions and other areas of the charity continue to develop and strengthen. Our Lighthouse shops partnered with Quest team for World Book Day, offering a free book for each child that visited one of our shops. Quest team also offered children's books donated by retail to partnering schools. Several of our shops have generously donated children's books, fully embracing the spirit and vision of the Great Book Giveaway initiative. Their support was instrumental in this year's World Book Day, ensuring that every child who visited a Lighthouse Charity Shop received a free book of their choice. Additionally, the Blend Youth Project's Woodcraft students have partnered closely with several of our shops throughout the year, by selling the students, handcrafted wood producls. This initiative has provided students wilh Ihe rewarding experience of seeing their work apprecialed by customers, giving them a real sense of accomplishment and motivating them to continue creating. The Lighthouse Charity Shops not onlyfund our work but also make a significant environmental impact, which is important to us as a charily. By helping people reuse and recycle pre-loved items, we extend their lifespan and reduce waste. FromApril 2023 to March 2024, our charity shops found new homes for just over 870.000 items that would otherwise have been discarded. This prevented a staggering 1.57 million kg from going io landfill and avoided nearly 20 million kg of C02 emissions from entering the atmosphere. Our new app tracks the environmental impact of every donation made to a Lighlhouse Charity Shop, highlighting the differen donors are making for the environmenl. By donating to us, you are not only helping the environment but also making a positive difference in Ihe lives of children, young people. and families in local communities. Our charily retail is also about celebrating people and creating opportunities for both staff and volunteers to develop new skills that can in turn help them to progress to new opportunities. Josh's slory below helps to illustrate this.. '1 want to expres5 my sincere gratitude fof the opportunity you provided me over the past year. Working al Valley CIDS has been instrumental in my personal growth, and l am truly thankful for everything you and the organisation have done for me. The experience, I gained during my time here played a significant role in securing a placement at a maior tech company in London for the next 13 months, approved by my university. The support I have received from the organisation has been invaluable, and I believe is ils lestament to the meaningful work that Valley CIDS does as a charily Thank you On again for your guidance and support. I wish Valley CIDS the besl with all the charity work you do in the local area." Josh Lebeter (Shop Supetvisor, Lighthouse Charity Shop, Belper) Looking Ahead, Our aim to expand our retail portfolio has continued, and we have secured two further new siles which meet our successful business model. These will help strengthen our retail presence across different regions and help generale additional income for the charity. We aim to drive fOlard the promolion of 'My Charity Shop, app both in store and across our social media channels. This will really help with the overall promotion of Valley CIDSILighthouse shops and continue to drive our Gift Aid conversion rates higher with digital donor access through the app. Children & Families Outreach We believe that it is important to give the opportunity for children and young people to explore and engage with the message and values of the Christian faith in relevant and age-appropriate ways. During the past year our children and families outreach work has created new opportunilies to engage wilh schools, churches, and local communities. In addition to enriching the RE curriculum in local schools, we are now fostering broader connections within the community. During ihe past year the tearn have engaged with approximately 8000 children each term, visited 47 schools, and have continued to provide valuable online resources via YouTube, attracting almost 800 views.
VALLEY CIDS UMrrED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Our approach continues to be focused on three key areas.. Enrlching RE - enriching religious edu¢ation in schools through colledive assemblies, RE lessonslworkshops. lunchtime clubs, and online resources. Exploring Falth facilitating relevant and creative opportunities for children and young people to explore the Chrislian faith. Mission & Outreach- supporting churches in their mission and outreach with children and families. Enrlching RE The Quest team is strengthening and expanding their partnerships with local schools and has been approached by several new schools, allowing them to reach and engage with even more children. They are finding new and imaginative ways to help the children explore Iheir spirituality and experience God in meaningful and engaging ways. The team has fostered strong, positive relalionships with many of the schools, where Ihe staff have expressed gratitude for the opportunily to lalk and pray wilh the team about personal challenges they loo are facing. "The assembly was the best and il was interesling and funl" Year 4 pupil, Crich Carr Church of England Primary School Exploring Faith Throughout ihe year. the team has continued lo support churches and has developed a strong partnership with Derby City Church. Together, they organised a residential weekend al the Peak Centre in Edale for children aged 7-11 from Ihe church. Children and church leaders joined the Quest Team for a fun-filled weekend that provided opportunities to explore and engage with the Christian faith in exciting ways. The group discovered Bible slories, exploring their meanings, and reflecting on how these messages are relevanl to their lives today. The team used creative storytelling, games, crafts, songs, and prayer to engage the group. The feedback from the church on this joint venture has been very positive as the testimonial below illustrates.. 'The weekend was a huge blessing to us and the children. and I have had good feedback from the team, children, and parents. We are really thankful that you gave us the opportunity lo be wilh the kids, get lo know them better, and create these memories with them." Children's Worker, Derby City Church. worshiplschool Mission & Outreach This year marked the launch of the Great Book Giveaway inltiative. designed to gifl books to children in schools and other projects, to help boost literacy and inspire reading. So far, the team has given away over 1,800 books, donated by our Lighthouse Charity Shops and other donors. The Quest team have personally delivered books to various schools and community projects, including food banks and a children's Café Church. Schools have frequently reported that many children do not have books at home or that reading is not a priority- These books are helping to ignite a passion for reading among iheir pupils. as the quole below from one local headteacher illuslrales.. "I've had lols of books eagerly shown to me as I've passed by children gelting their bags. So, Ihank you so much for offering us this opportunity." Headleacher, Copthorne Infants School. Looking Ahead The leam has begun exploring opportunities and making plans with other churches to run holiday clubs in the coming year. Building on the success of Ihe Great Book Giveaway, they aim to deepen their engagement within local communities by fvrther collaborating with the Lighthouse Charity Shops and schools to provide essential items. such as clolhing, lo families. They are also exploring addilional ways to offer pastoral support to schools, particularly for children with emotional needs who require extra care, and they hope to partner with the Saltpot Café to establish a well-being drop-in youth café.
VALLEY CIDS UMrrED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Out of School Clubs Our Zest out of school clubs have had another busy year, continuing to provide OFSTED registered wraparound care before and after school. The clubs are a caring and enriching environment where parents an trust their children are safe and can learn and have fun with others. During the past year 138 children have attended our out of school clubs, we have provided support to 108 families have served 9,945 meals. This year. the leam has focused on revamping the club's food offerings, introducing healthier meals to ensure that all children ceIve nutritious. well-balanced Options, including a variety of fruits and vegetables. Families can be rest assured that their children are receiving wholesome and balanced meals during the day. which is appreciated by children and teaching staff alike: "Zest provides a welcoming, calming, and enjoyable start lo the day. Children come into the class ready to learn thanks to their nutritious breakfast." Year 1 Teacher We understand that it is important that parents know that they can leave their children with our teams in a calm stress-free environmenl, so that they can get to work or get other children to different schools or childcare settings, without having to worry. In response lo the ongoing cost of living crisis, we have also prioritised keeping our clubs affordable by reflecting this in our attendance fees, ensuring that essential out of school care remains accessible to all. This year, we celebrated Easter by giving out an Easter egg to every child attending a Zest club. along wilh an Easter themed comic to lebrate this important festival. The children also benefitted from Ihe Great Book Giveaway initiative, where over 150 books were distributed. They had a wonderful time browsing through the selection of gifted books and choosing their favourites. They were delighled and surprised to discover that they could keep the books and take them home. We believe it is important to offer out of school provision to all pupils. striving to make it as acSsible as possible. This year, we have been able to provide one-lo-one support for children wilh additional needs. One child has been able to attend, which not only enabled their parent to go to work but also provided the child with largeted activities to support their fine motor skill development, which they struggle with due to their disability. The team also engaged with the children in exploring our core values of Hope, Compassion, Belonging and Inclusion. Together they discussed the meanings of these values and how they can be reflected in their attitudes and behaviour. The children shared their thoughts on what these values mean to them personally and how they can influence their actions towards others. "The Breakfasi Club staff have been fantastic in supporting some of our children with SEND, and they have developed good relationships with all the children." EYFS Teacher Looking Ahead In the coming year we plan to explore the possibility of opening new out of school provision at additional schools, so that more children will have the opportunily lo attend. The Quest team aim to deepen their involvement with the Zest out-of-school clubs. building on the exisling relationships Ihey have established with the children through their work in the schools. Additionally. Zest seeks to strengthen their connections with their local Lighthouse Charity Shops. In the past. Ihe children have created artwork for display in the shop windows. and they hope to build on this collaboration in the future. Youlh & Communii Work Over the pasl year, the Blend Youth Project team have focused on enabling young people to become more active, make informed health and wellbeing choices, express Ihemselves creatively, develop and engage with others. and participate in community projects. They remain dedicated to providing youth programmes across Derbyshire and Nottinghamshire, both at our cenlres and through street and project-based initiatives and have engaged with on average 650 young people per week through the delivery of 22 weekly sessions across 18 locations. This year saw also the expansion of the Blend Youth Project into the High Peak area, starting in Buxton. With our well-established presen through the Lighthouse Charity Shops, it is exciting to now engage directly with
VALLEY CIDS UMrrED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 the local youth Communily. We are thrilled to begin working with these young people weekly and look fopward to building on these connections in the future Our delivery approach continues to be based around key thematic streams and over Ihe past year we have engaged with young people in the following ways.. Health & Wellbeing: Enabling young people to make informed and positive choices relating to their health through their participation in healthy IITfestyle activities. A highlight of the past year was our collaboration with the Freedom Foundation. an organisation that helps children and young people express their creativity through music and dance. Together, we secured funding through Ihe Holiday Activity Food Programme IHAF), and Ihis enabled us to offer additional activities during school holidays. These sessions included sports, healthy eating, and music, held at the Chesterfield and Ripley Blend Youth Hub's. The music sessions were particularly impacrful, as they explored the emolional impact of music, encouraging them to share their views, and experience differenl genres. Participants also had the opportunity to write their own lyrics and poems, producing powerful expressions of Iheir thoughts and feelings. The various sessions introduced new sports activities lo encourage physical activity, promote menlal and physical wellbeing, foster new friendships, provided a space to express their emotions, and more importantly have fun. Creativity: Encouraging and enabling young people to identify ways to express themselves through the provision of creative opportunities and challenges. Throughout the year, young people have made several visits lo the Blend Woodcraft Enterprise Unit, where they've had the chance to develop valuable new skills. During these sessions, they learned how to safely and effectively use various lools and equipment in the workshop, worked together lo build their own bird boxes, and supported one another to successfully complele their projects. These hands-on experien$ not only taught them practical skills but also fostered teamwork and collaboralion. Keeping Active.. - Encouraging youngpeople to pursue physically active lifestyles and seek to provide physical and sporting opportunities. Promoting Ihe participation of young people through involving them in the development and delivery of our programmes is a key priority for the team. This was demonstrated when young people expressed interest in a fishing trip. In response, the Blend team organised an outing, with equipment purchased through fLJnding from a local councillor. Although no fish were caught, the young people had a fantastic time. Since that first trip, many of the young people have conlinued lo visit the lake together, enjoying the fun. camaraderie. and challenge of fishing. Some have even continued to use the equipment gifted to them after the inaugural trip, furlher nurturing this newfound interest. Community:. Creating opportunities for young people to demonstrate active citizenship through engaging in community projects focussed on responding to local issues and promoting social cohesion. This year, the Blend leam were proud to be part of a winning partnership supporting young people in Barrow Hill, a collaboralion thal earned recognition as the Partnership Award winners at The Voluntary Sector Awards 2023. The Blend team feels privileged and proud to be part of such a dedicated community group. Promoting our Values Values are al the core of our identity, shaping every asped of our project. We strive to be guided by our values in everything we do. ensuring that staff, young people, parents, partners, truly experience and engage wilh them. Our goal is lo create environmenls and offer opportunities where young people can fully embrace our Gore values. We believe it is importanl for our young people to develop an awareness of those around them, fostering culture where everyone feels welcomed, valued. and respected. One ofthe year's most inspiring experien$ was 8 session with comedian Benny Shakes, who, in addition to his comedy, works at Turner Farm. Ben is passionate about raising the awareness of the challenges faced by people living with disabilities. Through a series of interactive games, the young people gained insight into what life with a disability can feel like. They attempted to draw with their feet and navigate obstacles in a wheelchair, sparking meaningful discussions and enhancing their understanding and empathy. The activities provided a valuable opportunity to foster awareness and promote a deeper appreciation for the experiences of individuals with disabililies.
VALLEY CIDS UMrrED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 One young person we currently work with and support, summed it up well in the quote below-. 'Blend has created an open space where you can be honest and 100 % feel includedl They always make time for everyone al Blend and if you need lo have a one-to-one chat they afe always there to listen and help in any way they canl" Max, 21 Feedback from young people Consulting with young people is vitsl lo ensure their voices influence the development of youth services delivered by the Blend Youth Project. Our bi-annual participanl consullation suNey plays a key role in shaping the programmes and seNices Blend offer. Our lalesl evaluation revealed some valuable insights about the young people we support. Notably. 28 /0 reported having a disability, including conditions such as autism, ADHD, and dyslexia, which can impact how they participate in activities. This is an important consideration for the team as they design and deliver sessions. Through their involvement with Blend, young people have received support in various areas.. 68 % have tried new things. 53/0 have spoken about their mental and emotional wellbeing. 54 % have engaged in supportive conversations with youth work staff. When asked to choose three words that describe how they felt when accessing Blend services, the top responses were happy, listened to, comfortable, safe, and welcome. At Blend Youth Project, understanding what young people find beneficial about our services is essenlial. This feedback enables us lo conlinue delivering relevant serviS and expand our offerings lo include activities that young people enjoy. One such fomi of support offered by Blend Youth Project for young people is mentoring. Megan's story below illustrates just how impacfful this can be. Megan's Story Mentoring plays a crucial role in youth work, offering young people essential guidan. support, and positive role models. Through mentorship. Youth Workers help young individuals overcome challenges, develop new skills. and build confidence. read how Megan benefitted. Megan (not her real name) (15} has been a regular attendee of Blend sessions. Over the years, she has built a strong relationship with the youth workers, and eventually confided in them about her struggles with mental health and relationships at home. The youth workers offered mentoring support. and after discussions with Megan's school, she began a mentoring programme with Blend. The mentoring focused on mentsl health, relationships, self-esteem, confiden, and encouraging Megan to be equipped for learning. With the use of creative too15, Megan engaged in meaningful conversations, allowing targeted support to take place. At the start of the mentoring programme, Megan's school attendan was 500/0. she didn't carry a school bag or any equipment, and her behaviour was a concern for the school. Megan's Deputy Headleacher commented.. "Megan is doing so well,. her attendance is up 20 % since the starl of the year, and behaviour incidents have decreased. She continues to be well-presented and has her bagl Thanks so much for your support, I know she really appreciates it, and so do wel" Reflecling on her journey, Megan shared that before mentoring, she felt "alive but didn't feel like I was there. now my attendance has improved, my mental heallh has gone way up, and I feel so much better in myseff. I feel like I'm actually here and actually alive..
VALLEY CIDS UMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Looklng Ahead The team plans to further expand their work in the High Peak, wilh their continued focus on the Buxton area and are excited aboutlhe development opportunities. Having also won a tenderlo provide health & well-being support to young people in Amber Valley. The team will be delivering a new schools-based programme of well-being workshops & mentoring support, together with additional slreet-based youth work locations. We have also begun exploring a partnership with the Derbyshire Youth Justice SeNice to collaborate on providing reslorative justice activities for young people. Education and Enter rise Blend Youlh Project not only works with young people within their communities but is also an eslablished Alternative Education provider, offering education and training opportunilies from our integraled youth hubs and Iwo vocational training siles for young people who may be disengaged with learning or struggling io access mainslream educalion. During the past year we have supported 73 students and worked with 30 referring schools from across Derbyshire and Nottinghamshire. Through our education programmes. we have helped young people re-engage with learning. improve their self-esteem and confiden, and develop positive social relationships. An amazing 72°/o of our Year 11 students have achieved qualifications that have secured them college plaS and we are so proud of their achievements. This will enable them to continue their educational journey to help them move forward in their lives and fulfil their potential. This year, the number of sludents we have worked with has increased by 300/0, and we have buill strong relationships with several new schools and referring agencies. Over Ihe past year, we have expanded the range of courses we offer, allowing students of all abilities to earn nationally recognised qualwfications. Many of our students are referred to us because they are struggling in school and are at risk of pemianent exclusion. Our education provision offers a viable alternative, allowing schools to practice inclusivity by alleviating the social and academic pressures of mainstream education. This gives students the opportunity to build the confidence and skills needed to successfully navigate the rest of their week in school. We have also been able to accommodate more students in Key Stage 3 (Years 7-9) by creating bespoke, age-specific days at two of our sites. This allows us to cater specifically lo this age group. Generally, the longer a student is able to attend our programmes, the greater the positive impact we can have, making this a very exciling development. Here's Carl's Story.... Carl Inol his real name}, who has autism, came to us in Year 8 feeling socially isolaled and complelely disengaged from learning. Over lime. he built trust with several staff members and, after trying days at various siles. found a course he felt comfortable with at our farm. Initially, Carl was extremely reluctanl to write or engage in formal lessons. However, by Year 10, he had gained confidence in his skills and was willing lo evidence them on paper Now in Year 11, Carl has formed strong friendships with several other studenls, achieved a BTEC Awaid in Land-Based Studies, and secured a college placement for next year. Here's Oscar's Story.... Oscar (not his real name) was referred to us haIaY Ihrough Year 11 after being out of formal education for nearly 18 monlhs. Nowhere else was willing to offer him a place, as he had been permanently excluded from his school for some quite extreme negative behaviour. We were also very cautious," however, it was decided lo give him a second chance al our Woodcraft site. Oscar seized this opportunity and achieved a BTEC Award in Construction. as well as taking exams in Maths and English, in just 5 months. He has been an exemplary sludent arid now has many more options for future education and employmenl. armed with a glowing reference. Our education provision continues to be of tremendous value to students and parents alike. as one parent has commented.. "My son has really come oul of his shell through attending education with Blend and it has given him a purpose, security, slabilily and allowed him lo form positive relationships." Year 11 Parent
VALLEY CIDS UMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 We think the following quote from one our post-16 students captures the very essence of what Valley CIDS and our Blend YoLrth provision is about.. .1 don't know where I would be without Blend Youlh Projects, il's more than a charity. it's a family. Post 16 student Looking Ahead We plan to expand our visits to various businesses and work sites as part of the students, courses. These experiences provide young people with first-hand knowledge of working environments and help them explore future pathways for work experience placements and potential apprenticeships. Over the next year, with the help of funding, we plan to update our educational technology to offer more personalised leaming opportunities, tailored to each student's unique needs. This will enhance communications, Greativity. and student engagement. Community Projects Sall ot Communit Café Based in Swanwick, the Saltpot Community Café continues to offer a warm and inviling environment where friendship, community spirit. and delicious food and beverages come togelher. This year, the café has once again opened its doors as a'warm Space., welcoming locals lo pop in and enjoy an atmosphere where they can relax and socialise. over a hot drink alongside a slice of Bella's delicious cakes. The café attracts people of all ages, including students from the local secondary school, particularly those in Year 12 and 13, who frequently visit for something io takeaway or to relax during breaks between lessons. Their lively conversations and laughter enhance the atmosphere of Ihe café, highlighting its essential role at the heart of the communily. In addition to serving the community, the Saltpot Café has partnered with our alternative education programmes, providing young people with a safe and supportive environment to gain work experience. One such student, Eddy, has been volunteering at Ihe Saltpot through this initiative. Eddy's Story "Volunleering at the Saltpot created a natural and very positive bridge beeen planning to leave our education provision and starting a new course al college. Eddy was keen lo find a part-time job whilst studying and is now gaining the skills and experience that he needs lo do so. It has been a mutually beneficial placement, as I've heard several reports of his easy charm being appreciated by customersl" Alternalive Education & Post-16 Manager Eddy has enjoyed his placement so much that he continues to volunteer in his own time and plans to keep doing so alongside his college studies nexl year. "Working al the Saltpot has boosled my Confiden and given me something positive lo add lo my CV. I've learned a lol from talking with the older generation and have developed bolh my people and catering skills. I really enjoy my shifts there." Eddy, Post 16 Student The café is not just a place where customers feel cared for,. il is also where volunteers find a true sense of belonging. This is evident in Ihe loyalty of its volunteers, like Maureen, our longest serving volunteer of 23 years. Here's what volunteering al the Saltpot means to Maureen.. "l absolutely love meeting and chatting with the people who come into Ihe café. It's a true community hub, and I know everyone who walks through the door. Il's heartwarming to see people from all generations visiting. The people I work with here are like family, offering me warmth and friendship-
VALLEY CIDS UMrrED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 they're like a big hug, and I feel a deep sense of belonging. The staff and volunteers here are wonderful, and it's a lovely environment to be part of. The café is a lifeline for me." Maureen, Saltpot volunteer When reflecting on the sense of belonging and purpose found in volunteering at the Saltpot, another of our volunteers commented: "The Saltpol team is great. I feel accepled and part of the Sallpot family I have never felt good enough before, but here I feel part of the team and aCpIed. I can go and have a laugh with them. They rnean so much to me." Saltpol Cornmunity Cafe Volunteer Looking Ahead Given that the young people from the local secondary school are a valued part ofthe Saltpot Community Café family, plans are undetway to explore Ihe possibility of extending the café's hours one day a week exclusively for Year 12 and 13 students. Thiswould provide them with a safe and welcoming spaceto gather and socialise in the familiar setting of the café. Swanwick Men's Shed With over 70 members, Swanwick Men's Shed is aimed at building community and camaraderie for both men and women who want to put their handy skills to use or gain new skills. Members, known as'shedders,, both men and women use their practical skills to creale, repair, and repurpose items, all while connecting with like- minded individuals. This shared activity fosters a renewed sense of purpose and belonging. One member expressed the value oflhis community by saying, "I connectwilh many shed members and can rely on each for different aspects ofsupport. Some help with projects, others provide mental support when feeling low. The shed is a family, and being a part of it gives a massive sense of belonging and support.. Throughout the year, Men's Shed has formed new connections with various local community groups, including Makelshifl, an organisation that works with and promoles communities in Amber Valley. Swanwick Men's Shed was invited to attend their Golden Glue Awards event, which celebrates the everyday makers, connectors, and shifters ofAmber Valley who do exlraordinary things to bond communities. At the event, Ihe team had the honour of receiving a Golden GlueAward, acknowledging the impactthat Swanwick Men's Shed has within the Amber Valley community. The event was a joyous occasion, filled with sharing and celebrating alongside other deserving winners and community projects. The Shedders have been collaborating with other community projects and schools. They worked with Grow Outside, a local social enterprise that uses therapeulic nature and regenerative horticulture methods lo deliver community gardening and outdoor well-being activities. Swanwick Men's Shed responded to Grow Oulside's request to make some planters for the group, by producing several planters for their community garden. These were so successful that they will be making more in the future. Similarly, Loscoe School enlisted the Shedders, skills to build a bin storage area. "Swanwick Men in Shed were fantastic to work wilh when they provided some planters for our community project. They are lovely quality and they arrived right when they said they would. The members that came to deliver them were very friendly and knowledgeable, and after seeing some of their range of crafts available, there is obviously great skill in the group. Everything is made with care and lo a high standard. The team have also been keen to join in wilh our community collaborations, and are a very welcome addition, bringing their skills and passion. We very much look forward lo continuing to work wilh you. Grow Outside Beyond their involvement in local projects, Swanwick Men's Shed is a close-knit community. It offers members with a welcoming space to forge friendships and share experiences, knowing they belong to a supportive and caring group. Here, they nol only take pride in their valuable contributions to the community but also find strength in supporting one another through personal challenges and life's ups and downs. 10-
VALLEY CIDS UMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 As one shedder commented.. "Having suffered from depression. il soon became apparent lo me that others were in the same boat, and gradually we were able to talk to each other aboul these issues and support each other. Financial Review Reserves Polic It is the aim of trustees that the Charity should maintain unrestricted funds at a level which equates to six weeks expenditure, with a view to increasing this as and when this is financially appropriate. This would provide sufficient funds to cover management workers and administration and support costs. Based upon our Management Accounts lo 31 March 2024 our expenditure for six months including finance costs is £2,411,825. Reserves to cover one month's cosls would therefore equate to £401,971 and 6 weeks would be £556,575. Total funds of the group at the year-end amounted to £1.642.807, of which £755,480 relate lo endowment funds. leaving a surplus on unrestricted general resetves of £887,327. At the year-end there was a surplus on free reserves including long term liabilities of £352,18912023.' £162,311). At present there are insufficient unrestricted funds available lo accomplish this, but continual effort is being made to secure more charity shops, reduce our operating costs and raise the level of income accordingly in order lo achieve this target. Goin Concern At 31 March 2024 total reserves amounted lo £1,642,807, ofwhich £755,480 related to the endowmeni fund leaving unreslricled reselves of £887,327 an increase of £164.033 on the previous year. Of the general reserves there is a surplus of £352,189 on free reserves. The trustees are in the process of adopting various measures lo duce costs and provide working capital to enable the charilable company to meet its obligations as they fall due. These measures include.. Reductions in the operating costs of its trading activities. Expansion of trading activilies relating to charity shops through additional shop openings. Negotiations with funders lo extend facilities available. Placing one or more properties for sale. The trustees consider that such measures will improve the level of free reserves in line with its reseNes policy. Consequently. the trustees consider that the financial statements of the charity should be prepared on a going concem basis. Princi al fundin sources Principal funding sour$ are.. Charity shop trading income. donations, and associated gift aid of £4,402,930 (prior year £3,849,015). Blend income, principally alternative education, of £347,662 {prior year £266.982) The most significant funding stream for the charity is the trading income from charity shops. The charity had 34 shops at the end of the current financial year. The income from the charity shops in 2023124 increased by 14.390/¢ compared to the prior year. The running costs of the charity shops increased 9.070/0 from £2.589,781 in 2022123 to £2,824.458 in 20231 24. Investment Polic The Trust Deed authorises the Trustees to make and hold inve5tmenls using the general funds of the charity. The trustees are therefore carrying out prudent research into available interest bearing, instant access savings account options with a view to securing the best inveslmenl return, whilst not removing flexibility for our reseNes. It is the intention of the trustees therefore that an interest bearing, instant access savings account will be set up and funds eventually amounting to thal of the Reserves Policy will be deposited in it.
VALLEY CIDS UMrrED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Princi al Risks and Uncertainties The charity is relianl on charity shop income but nevertheless we have been able to sustsin a high level of sales over this period even though retail sales in the high street have generally suffered. Over the year we have managed to slabilise our income so that to date we have not seen any material impacl to the ability of the charily to fund activities al the current level. This will be closely monitored over the next year. Salary costs, including social security and Pensions comprise more than 60% of total expenditure and the Govemment has pledged lo increase the living wage to £11.441hour from April 2024. Plans for Future Periods In this coming year we will be looking ahead to celebrating our 25 anniversary and we approach this significant milestone wilh vision, faith, and the hope of what's to come in the next chapler of our story. The report sections above have provided an OveieW of our plans for the coming year in relalion to each of key areas of delivery, Retail, Children & Families, Youth Provision and Communily Projects. Additionally, we will also be exploring new partnership initiatives focussed on how we can further support families and communities, particularly in relation lo clothing poverty. We intend to continue to invest in developing a robust communications strategy that further enhances our relationship with our donors and supporters, including a new CRM system that enables us to belter manage donor iourneys. In relation to our core values, senior managers have been involved in attending inclusion and diversity workshops in the past year with a view to onsidering what intentional and visible inclusion should look like for us as 8 charity. Through this process an Inclusion strategy has been drafted, which we intend to move forward with implementing in the year ahead. We are also excited to be planning towards the next phase of development for our Turner Farm site. This wonderful resource continues to provide enriching learning and development opportunities for young people, together providing a base for the Swanwick Men's Shed project. Plans for Ihe ongoing developmenl of the site will consider how we can fvrther enhance the educational, community and environmental impact of our work there. Structure, Governance, and Management Valley CIDS is based at 13-14 The Green, Swanwick, Alfreton, Derbyshire. DE55 1BL which is also the registered office and principal address of the charity. The organisalion is a charitable company limited by guarantee (no. 05558271) originally incorporated on 8 Seplember 2005 under the Memorandum and Articles of Association as amended by special resolution dated 4 March 2009 and 16 March 2009. The company registered as a charity on 12 March 2008 Ino 11231731. In the event ofthe company being wound up all members are required to contribute an amount not exedIng £1. Board of Trustees The trustees, who are also the directors forthe purpose of company law, and who seTved during the year and up to the date of signature of the financial statements were.. J Brook B J Cupples N J Hambley David Howe (Joined 3111012023 J Potter (Joined 2010912023 J F Turner (Resigned 3111012023 D M Vvhitaker P R Whitaker An annual review of the Trustees training requirements is undertaken together with the training and information provided to any new Trustees. Senior Leadershi Team The senior leadership team is led by the Chief Executive, lan Tannahill, and currenlly comprises of the Director of Retail, the Head of Retail Operations & SeNices, the Head of Children & Families Outreach, Head of Finance, Head of Youth Services, and the Director of Elhos. Values and Mission. Internal Control The purchasing process, whereby alternative quotes are obtained, is important to the achievement of best value for Valley CIDS and is expected for all items of expenditure above £500. 12-
VALLEY CIDS UMrrED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Management Accounts are distributed within 15 working days of the month end lo the Senior Management Team and Trustees. They include an Income and Expenditure Statement, Balance Sheet, Cash Flow forecast and sales statisb'cs. Pa PDIIC for Ke Mana ement Personnel The trustees base Ihe pay of key management personnel on market rates for similar roles. Risk Mana ement The trustees actively review Ihe major risk which the charity faces on a regular basis and their aim is to focus on increasing reserves to fall in line with our reserves policy. This combined with an annual review of the ontrols over key financial systems will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems lo mitigate the significant risks. Fundraisin Polic Statement Our funding continues to be predominantly through our Charity shops. but we also do receive some gifis from local churches and individuals. We have been expanding our Alternative Education provision which also generates income for the charity. We continue to discuss alternative methods of funding our work in the future and, whilst we do not engage in any form of direct markeling, we have in the past year engaged communications and fundraising consultancy support to help us develop a more coherent communications and donor journey stralegy. Related Parties Valley CIDS is a charitable company which owns Valley CIDS Trading Company Limited, which is used as an agent for charity shop donations with the net proceeds of these donations being donated to the charily. Valley CIDS Trading Company Limited also manages and operates the charity shops. There is also a uniling direction in place behveen Valley CIDS and the Turner Educational Charity. The two charities are not formally amalgamated bul share common administration. See the related party Iransaction note for other related party disclosures. Auditor In accordance with the company's articles, a resolution proposing that Azels Audit Services be reappointed as auditor of the company will be put at a General Meeting. Disclosure of information to the auditor Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audil, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps lo idenlify such relevant information and to eslablish that the auditor is aware of such information. The trustees report was approved by the Board of Trustees. PR Whitaker Chair Dated.. 13-
VALLEY CIDS LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of Valley CIDS Limited for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statemenls in attordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Affepted Accounting Practice). Company Law requires the Irustees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charitable company and of the incoming resources and applicalion of resources, including the income and expenditure, of Ihe charitable company for that year. In preparing these financial slatemenls, the trustees are required to.. select suitable accounting policies and Ihen apply them consistently., - observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent,. and prepare the financial statements on the going concern basis unless rt is inappropriate to presume that the charilable company will continue in operation. The trustees are responsible for keeping adequate accounling records that disclose with reasonable accuracy at any time the financial position of Ihe 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 hen for laking reasonable steps for the prevention and detection of fraud and other irregularities. 14-
VALLEY CIDS LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF VALLEY CIDS LIMITED Opinion We have audited the financial statements of Valley CIDS Limited {the 'charitable company,) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in Iheir preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of ils incoming resources and application of reSoUrs, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Aepted Accounting Practice: and have been prepared in accordance with Ihe requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK} {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements Ihal are relevant to our audit of the financial ststements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe Ihal the audit eviden we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing Ihe financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparalion of the financial ststements is appropriate. Based on the work we have perfomied. we have not identified any material UnrtaIntieS relating to events or conditions that, individually or collectively, may cast significant doubt on the charilable company's ability to continue as a going concern for a period of at least tsvelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other inforniation The other information comprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained wilhin the annual report. Our opinion on Ihe financial statements does not cover Ihe other information and we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent wilh the financial statemenls or our knowledge obtained in the course of the audil, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparenl material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial stslemenls themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the trustees, report., or SLrficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records., or we have not received all the information and explanations we require for our audit. 15
VALLEY CIDS LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF VALLEY CIDS LIMITED Responsibilltles of trustees As explained more fully in the slatement of trustees, responsibililies, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or eiror. In preparing the financial statements. Ihe trustees are responsible for assessing the charitable smpany's ability to continue as a going concern, disclosing. as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to ¢ease operalions, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in acmrdance wilh the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assuran about whether the financial statements as a whole are free from material misstalement, whether due lo fraud or error, and to issue an audito¢s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance wrth ISAS {UKI will always detect a material misstatement when il exists. Misstatements can arise from fraud or error and are considered malerial if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities is available on the Financial Reporting Council's website at= https'.11 www.frc.org.uklauditorsresponsibilities. This description forms part of our audilor's report. Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, induding fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilrties, outlined above and on the Financial Reporting Council's website, to delect material misstatements in respect of irregularities, including fraud. We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding. we identify and assess Ihe risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to Ihose risks, and obtain audit evidence that is sufficient and appropriate lo provide a basis for our opinion. This includes consideration of the risk of acts by the entity thal were contrary to applicable laws and regulations, including fraud. In response lo the risk of irregularities and non-complian with laws and regulations, including fraud. we designed procedures which included.. Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud: Reviewing minutes of meetings of those charged with governance., Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity Ihrough enquiry and inspeclion., Reviewing financial statement disclosures and tesling to supporting documentation to assess compliance with applicable laws and regulatsons., Perfomiing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustmenls for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of Ihe inherent limitations of an audtl, there is a risk that we wi15 not detect all irregularities, including those leading to a material misstatement in the financial stalemenls or non-compliance with regulation. This risk increases the more that compliance with a law or regulalion is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulling from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations. or the override of internal control. 16-
VALLEY CIDS LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF VALLEY CIDS LIMITED Use of our report This report is made solely to the charity's trustees, es a body, in accordan with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken $0 that W8 might state to the charity's truslees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than th8 charity and the charity's truste8s as a body, for our audit work, for this report, or for the opinions we have formed. Mr Mark Jackson FCA DChA (Senior Statutory Audltor) for and on behalf of Azets Audit S8rvlces Charterod Accountants Statutory Audltor Westpoint Lynch Wood Peterborough Cambridgeshire Uniled Kingdom PE2 6FZ A2ets Audit Services is eliglble for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under Section 1212 of the Companies Act 2006. 17-
VALLEY CIDS LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Endowment funds funds 2024 2024 Total Unrestricted Endowrnent funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Other Iradirig activities Investments Other income 1,323,432 428,679 1,323,432 428,679 901,228 405.694 901.228 405.694 3.130,490 5,029 (376) 3,130,490 5,029 {376) 2,998,513 2,281 4.039 2,998,513 2.281 4,039 Total income 4,887,254 4,887.254 4,311,755 4.311,755 nditure on: Raising funds 3,468,458 3.468,458 3,011,781 3,011,781 Charitable activities 1,267,912 1,267,912 1.112.774 1,112,774 Total expenditure 4,736,370 4,736,370 4,124,555 4,124,555 Net incoming resources before transfers 150,884 150,884 187,200 187,200 Gross transfers belween funds 13,150 {13,150} 13.447 {13.4471 Net movement in funds 164.034 (13.150) 150,884 200,647 (13,447) 187,200 Fund balances at 1 April 2023 723,293 768.630 1,491,923 522,647 782,076 1,304,723 Fund balances at 31 March 2024 887,327 755.480 1,642,807 723,294 768,629 1,491,923 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from conlinuing activities. The slatemenl of financial aclivities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 18
VALLEY CIDS LIMITED CONSOLIDATED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notss Flxod assets Tangible assets Current assets Debtors Investments Cash at bank and in hand 14 1,290.618 1.329,612 15 16 253,138 4.208 498,569 284,485 4,208 371.249 755,915 659,942 Creditors: amounts falling due within one year 18 (305.355) (350.047) Net current assets 450,560 309.895 Total assets less current liabilities 1,741,178 1,639,507 Credttors: amounts falling due after rn0 than one year 19 (98,371) (147,584) Net assets 1,642,807 1.491,923 Capitsl funds Endowment funds - general Income funds Unrestricted funds 21 755.480 768.629 887,327 723,294 1,642,807 1,491,923 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, although an audit has been carried out under section 144 of the Charities Act 2011. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of ils financial ststements under the requirements of the Companies Act 20¢A, 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 statements were approved by the Trustees on ...........-........ 1£ •k/_ P R Whitaker Trustse Company Registration No. 05558271 19-
VALLEY CIDS LIMITED BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Inveslmenls 14 1,128,995 1,182,647 1,128,996 1,182,648 Current assets Debtors Investments Cash at bank and in hand 15 317,219 4.208 438.238 341,867 4,208 353,291 759,665 699,386 Credltors: amounts falllng due within one year 18 {239,242) (261,702) Net current assets 520,423 437,664 Total assets le88 eurrent11obllltie8 1,649,419 1,620,312 Credltors.. amounts falllng due after more than one yeor 19 (98,371) (132,614) Net assets 1,551,048 1,487,898 Capltsl funds Endowment funds - general In¢ome fund$ Unrestricted funds 21 755.480 768,629 795,568 719,089 1,551,048 1.487,698 -20-
VALLEY CIDS LIMITED BALANCE SHEET {CONTINUED) ASAT31 MARCH 2024 The company 1$ entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. although an audit has been carried out under sedion 144 of the Charities Act2011. The directors acknowledge their responsibilities for complying wilh th8 requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have nol required the company to obtain an audit of its financial statements under the requirements of th8 Companies Act 2006, for the year in question in accordants with section 476. These financial statements have been prepared in accordance with the provisions applicable lo Companies subject to the small companies regime. The financial statements Were approved by the Trustees on P R Whitsker Trustee Company Regl$tratlon No. 05558271 21
VALLEY CIDS LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 26 226.861 240,659 Investing actlvities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Investment income received {49.968) (310,4) 10,146 2,281 5,029 Net cash used in investing actlvltle$ (44,939) (298,069) Flnancing a¢tlvltle$ Repayment of bank loans Payment of obligations under finance leases (10,000) (44,602) (18,760) 165,636 Net cash (used In)Igonerated from flnancing activltle$ (54,602} 146,876 Net Increase In cash and cash equivalents 127,320 89,466 Cash and cash equivalents at beginning of year 371,249 281,783 Cash and cash equivalents at end of year 498,589 371,249 -22-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity infomiatlon Valley CIDS is a private company limited by guarantee and incorporated in England and Wales. The registered office is 13-14 The Green, Swanwick. Alfreton, Derbyshire. DE55 1 BL. The members of the charity are the trustees. In the event of the charity being wound up. the liability in respect of the guarantee is limited to £1 per member ofthe charity. 1.1 Accounting convention The financial statements have been prepared in accordance with the charitsble company's governing document. Ihe Companies Act 2006 and "Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charities preparing iheir accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charitable company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existen for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the finanaal statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricted funds are subject to specific conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charitable company. 1.4 Income Income is recognised when the charitable company is legally entitled to it after any perfomiance condttions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are re¢ognised on receipt. Other donations are recognised On the charitable company has been notified of the donalion, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution. the amounl is known, and receipt is expected. If the amount is not known. Ihe legacy is treated as contingenl asset. 23-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Contlnued) 1.5 Expenditure All expenditure is accounled for on an arual5 basis and has been classified under headings that aggregate all costs relating to the category. Where costs cannot be directly allocated to particular headings, they have been allocated to activities on a basis consislenl with use of the resources. Governan costs are those incurred in GonneGtion with the charity's compliance with Gonstitulional and statutory requirements. Irrecoverable VAT is allocAted in the manner stated above for non-direct Gosls. 1.6 Tangible 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 cost or v81ualion of assets less their residual values over their useful lives on the following bases= Freehold land and buildings Leasehold improvements Fixtures and fittings Shop and office equipment Motor vehicles 20/0 Straighl line. Freehold land is not depreciated. 10 years straight line. 20 % reducing balan. 20°/0 reducing balan. 25/0 reducing balan. The gain or loss arising on the disposal of an asset is determined as the differen between the sale proceeds and the carying value of the assel, and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets Al each reporting end date, the charitable company reviews the carrying amounts of its tangible assets lo detemiine whether there is any indication thal those assels have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in cuffent liabilities. 1.9 Flnanclal instruments The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instmmenls, and Section 12 '0ther Finan¢ial Inslruments Issues, of FRS 102 to all of its finanual instruments. Financial inslruments are recognised in the charitable company's balance sheel when the charitable company becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effeclive interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. -24-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Baslc financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constrtutes a financin9 transaction, where the debt instrument is measured at the present value of the fvture payments discounted at a markel rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction pri and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charitable company's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are reived. Temiination benefits are recognised immediately as an expense when the charitable company is demonstrably committed lo terminate the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.12 Leases Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets al the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net incomel(expenditure) for the year so as to pr¢Jduce a constant periodic rate of interest on the remaining balance of the liability. Crltical accounting estimates and judgements In the application of the charitable company'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 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 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 peri¢)d$. -25-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donation8 and legacles 2024 2023 Donations and gifts Government grants G¢ft aid 1,063,227 760 259,445 705,139 24,587 171,502 1,323.432 901,228 Charitable activitles 2024 2023 Breakfast clubs Blend proje$ Other income Men's Shed 54,285 347,662 16,586 10,146 48,258 336,927 11,697 8,812 428,679 405,694 Analysis by fund Unrestricted funds 428,679 405,894 428,679 405,694 Other tradlng actlvltles 2024 2023 Saltpot sales Charity shops & ebay leS Rentsl income Other income 26,447 21.987 3,091,498 2,947,787 12,297 28,275 464 Other trading activities 3,130,490 2,998,513 -26-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Other incom• 2024 2023 Net gain on disposal oftangible fixed assets {376) 4,039 Investmonts 2024 2023 Interest receivable 5,029 2,281 Ralslng fund8 2024 2023 Charity shops & café Operating Charty shops Staff costs Depreciation and Impairment 1,405,334 1,994,095 69,029 1,060,300 1.934,381 17,100 Charity shops & café 3,468,458 3,011,781 27-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charltablo actlvltles 2024 2023 Staff costs Depreciation and impairment Bank charges Renl. rates and power Insurance Printing, postage and stationery Recruitment and training Repairs and computer costs Equipment hire Legal and professional Sundry costs Subscriptions Travellmolor costs Telephone Goods and consumables Advertising and PR Activity and event costs 624.766 18,343 180 86,790 223 3.422 3,035 22,402 3.087 4.072 13,950 622 6,049 18,939 3.024 1,868 25,420 581,662 51,444 1,496 95,644 11,110 4,311 3,442 23.090 2,308 6,314 12,926 2,344 10,767 13,405 2,585 28,991 836,192 851,839 Share of support costs (see note 10) Share of govemance Costs (see note 10) 412.678 19,042 243,485 17,450 1,267,912 1,112,774 -28-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Support costs Support Governance costs costs 2024 Support Governance costs costs 2023 Staff costs Depreciation Insurance Loan interest Legal costs Olher costs Support costs heading 5 254.922 1,214 26,705 808 15.803 71,274 41,952 254,922 1,214 26,705 808 15,803 71,274 41.952 176,762 1.065 17,310 1,132 15,662 31.554 176,762 1,065 17,310 1.132 15,662 31,554 Audit fees Accountancy 12,400 6,642 12,400 6,642 11,650 5,800 11,650 5,800 412,678 19,042 431,720 243.485 17,450 2etrO,935 Analysed behveen Charitable activities 412,678 19,042 431,720 243,485 17,450 260,935 Governance costs includes payments to the auditors of £12,400 (2023- £11,650) for audit lees. 11 Trustees During the year J Brook. who was a trustee of the charity. reiVed total remuneration of £12.673 12023= £10,774) and pension contributions of £63412023.. £539) as approved by the Charity Commission. No other trustees reiVed any remuneration. None of the trustees were reimbursed for expenses. The number of directors to whom retirement benefrts are accruing under money purchase schemes is 1 (2023.. 11. The key management personnel comprise the trustees the senior leadership team. The total employment benefits of the key management personnel were £186.701 for 6 employees (2023.. £77.774 for 2 employees). 12 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number 169 163 Employment costs 2024 2023 Wages and salaries Social security cosls Other pension costs 2,640,650 170,878 62,255 2,246,490 133,133 51,542 2,873,783 2,431,165 -29-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Employees {Continuedl There were no employees whose annual remuneration was more than £60,000. 13 Taxation The charity is exempi from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of Ihe Taxation of Chargeable Gains Act 1992 to the extent thal these are applied to tts charitable objects. -30-
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VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Tangible fixed assets {Continuedl The Turner's Farm at Swanwick was valued by Bagshaws Chartered SuNeyors, in the amount of £800,000 at 10 March 2020. on an open market value basis in accordance wrth the RICS valuation Standards. Under the transitional exemptions available under FRS102, the charity has treated the previous GAAP valuation as deemed cost. The historic cosl of the Turner's Farm is estimated al £5C() by the directors. Induded in freehold property is land estimated at £300.000 that is not depreciated. In the year ended 31 March 2016 the company was gifted freehold properties at The Compass, 47 West Bars, Chesterfield. This was included at a cost of £165,000 based on an open market valuation at 1 December 2015 by Richard Savage in accordance with the RICS valuation Standards. The Compass was value by Bolhams Chartered Surveyors. in the amount of £325,000 at 5 April 2019. on an open market value in accordance with the ROCIS valuation Standards. All other assets are induded al historic cost. 15 Debto Group 2023 Company 2023 2024 2024 Amounts falling due within one year- Trade debtors Amounts owed by subsidiary undertakings Other debtors Prepayments and accrued income 57.393 33,610 57.393 69,143 88,879 101.804 33.610 62.920 133.817 111.520 93.941 101.804 139,355 111,520 253,138 284.485 317,219 341.867 16 Current asset investments Group and company 2024 2023 Unlisted investments 4,208 4,208 17 Finance lease commitrnents Future minimum lease payments due under finance leases.. 2024 2023 thin one year Wrthin Iwo and five years 39.330 81,704 44,719 120,917 121,034 165,636 It is the tharitable company's policy to lease certain equipment under finance leases. Interest rates are fixed at the contract date. All leases are on a fixed repayment basis. 33-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Credltors: amounts falling due withln one year Group 2023 Company 2023 2024 2024 Notes 20 17 Bank loans ObligalioDS under finance leases Other taxation and social security Trade creditors Other Creditors Accruals and deferred income 10.CQO 39,330 39.241 137.208 13,468 66,108 10,000 44,719 27,112 180,950 8,786 78,480 10,000 24,758 39,241 119.994 13,468 31,781 10,000 24,759 26,600 158,596 8,786 32,961 305,355 350,047 239,242 261.702 19 Credltorn." amounts falling due after more than one year Group 2023 Company 2023 2024 2024 Notes Bank loans Obligations under finance leases 20 16,667 26.667 16,667 26.667 17 81,704 120,917 81,704 105,947 98,371 147,584 98.371 132.614 20 Loans and overdrafts Group and company 2024 2023 Bank loans 28,667 36,667 Payable within one year Payable after one year 10,000 16,667 10,000 26,667 There is a Yorkshir8 Bank Bounce Back loan totalling £26,667 (2023 .' £36,667) which is wholly repayable in five years. -34-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Endowment funds The endowment fund represents assets held by a Ilnked Charity, the Turner's Educational Charity. It is understood that the land and buildings of the linked charity are an expendable endowment fvnd. These assets were originally entwsted to the Turner's Educational Charity in the 1700's. Balanc• at 1 Aprll 2022 Tran$fvrn l•nc• It 1 Aprll 2023 Trnn$l•rn 8*l•nc• at 31 March 2024 Pernianent endowments Tumerfs Educational Fami 782,078 (13,447) 788.630 (13,150) 755,480 782.076 (13,447) 788,630 (13,150) 755,480 22 Analy81• of n•t assets between funds Unrestricted Endowment funds funds 2024 2024 Total Unrnstrlcted Endowment funds funds 2023 2023 Total 2024 2023 Fund balances at 31 March 2024 are represented by.. Tangible assets Current assetsl(liabilities) Long temi liabilities 535,138 450,560 (98,371) 755,480 1.290,818 560,983 450.560 309.895 (98,371) (147,584) 768,629 1,329,612 309,895 (147,584) 887,327 755,480 1,642,807 723,294 768,629 1,491,923 -35-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Operating lease commitments At the reporting end dale the Charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2024 2023 Within one year Beeen and five years In over five years 576,668 1,687,155 1,129,359 593,574 1,541,603 910,121 3,393,182 3,045,298 24 Related party transactions During the year the group made purchases lotaling £nil {2023.' £6,150) from Andrews Builders Limited company in which the P R Inffiilaker and D M Whitaker are directors. This had been approved by the trustees. Amounls due to Andrews Builders Limited at the year end totaled £nil (2023.. £nil). During the year the group made purchases totaling £39,171 (2023.. £nil) from S Brook, the spouse of J Brook. Unconditional donations received from Irustees during the year amounted to £2,420 (2023= £2,471). There is a uniting direction in place between Valley CIDS and the Turner's Educational Charity. The two charities are not formally amalgamated but share common administration. The accounts of Ihe Tumer's Educational Charily have been aggregated into these financial statements. 25 Subsidiaries Detsils of the Charitable company's subsidiaries at 31 March 2024 are as follows.. Name of undertaking Registered office Nature of business Class of shares held °A Held Direct Indirect Valley CIDS Trading Company Limited England Charity shops Ordinary shares 100.00 -36-
VALLEY CIDS LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Cash gonorated from operatlon$ 2024 2023 Surplus for the year 150,884 187,200 Adjustments for: Investment income recognised in statement of financial activities Lossl(gain) on disposal of tangible fixed assets AmortlS8tion and impairment of intangible assets Depreciation and impaimient of tangible fixed assets {5,029) 378 1,214 87,372 (2,281) (4,039) 1.065 68,645 Movements in working capital.. De¢reasel{increase) in debtors (Decrease)lincrease in creditors 31,347 {39,303) (11,337) 1,506 Cash generated from operations 226,861 240,659 27 Analy$l$ of changes In net fund8 At 1 Aprfl 2023 Ca¥h flow•At 31 March 2024 Cash at bank and in hand 371,249 127,320 498,569 Loans falling due wilhin one y8ar Loans falling due after more than one year Obligations under finance leases {10,000) (26,687) (165,636) (10.000) (16,667) (121,034) 10,000 44,602 168.946 181,922 350,868 -37-