Charity regirtration number 1123402 Company registration number 06531268 IEngland and Wales) WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION ANNUAL REPORT AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION LEGAL AND ADMINISTRATIVE INFORMATION REFERENCE and ADMINISTrATIVE DEfAIiS Charity Name Warwickshire Community and Voluntary Artion {WCAVAI Cornpany number 06531268 (England and Wales} Charity number 1123402 Registered office 4-6 Clernens Street. Leamington Spa. CV312DL Cornpany Secretary K Winchcombe Dlrertors The Directors, who have served through the financial year and to the date of signing this report. except where stated. were: Andrew Gabbitas S Hammond P Robson 5 C Rawbone C SpieTS J A Wildig J McKenzie G A Other (Appointed 31 Ortober 2023) (Resigned 31 March 2024) Auditor Burgis & Bullock 23-25 Waterloo Place, Leamington Spa, 0132 SLA Solicitors Lodders Solicitors LLP Arden Street, Strarford-Upon-Avon. CV37 6PA Bankers HSBC Bank PLC 126 Parade, Leamington spa, CV32 4AJ Investment advisor5 Towergate Insurance Trading name of Towergate Underwriting Group Limited., Eclipse Park, Sittingbourne Road. Maidstone. ME14 3EN
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN COMfENTS Pa8e Trustees, report i-io statement of Trustees, responsibilities li Independent auditor's report 12-15 Statement of financial activities 16-17 Summary income and expenditure account 18 Balance sheet 19 Statement of cash flows 20 Notes to the financial statements 21-44
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION TRusfEES' REPORT (INCLUDING DIREoRs, REPORn FOR ThIE YEAR ENDED 31 MARCH 2024 The Dirertors (who are the Trustees of the Charityl have pleasure in submitting their Annual Report together with the audited financial ststements for the year ended 31 March 2024. STRucfuRE, GOVERNANCE and MANAGEMENr Governing Document WCAVA is a charitable company limited by 8uarantee, incorporated on 11 March 2008 and registered as a charity on l April 2008. The charitable company was established under a Memorandum of Association, which established the objectives and powers of the company and 15 Eoverned under its Articles of A550ciation. In the event of the company being wound up members a required to contribute an amount not exceeding £10. The Directors are responsible for the overall govemance of the charitsble company. Significant Changes There were no Governance/constitution changes. The Board agreed to the appointment of one Trustee and accepted the retirement of an existing Trustee. At the AGM. Phil Robson stood down as Vice Chair and Clare Spiers was voted into the role of Vice Chair. The number of members that can be registered is unlimited and membership is open to any individual or organi5ation thot 15 interested in promoting the aim5 and objertives of WCAVA. There has been a focus on membership recruitment during the year with positive results. The Board is required to have at least 8 Members and there is no maximum, unless determined by ordinary resolution. Annually one third of the Board retires by rotation. but these directors are eligible for re-election. The Board have the power to (opt additional directors. No director can serve for more than nine consecutive years. The member5 of the Board, who are directors for the purpose of company law and trustees for the purpose of charity law. who served duringthe year and up tothe date of this report are listed on page one. DIrtorS may be nominated by the membership in accordance with the memorandum. to reflect the range of voluntary and comrnunity groups as well as for their knowledge of the area and the work of the charity. The Board endeavours to ensure there is a balance of skills and expertise. Co-opted directors are recruited from a range of sources: specialist advertisinE mediums, introduction by existing members and direct applications 'through word of mouth,. Prospective members are required to complete application forms. which are duly assessed a8ainst the 'Ski11s Need5 Analysis. to ensure that there is a balance of skills and expertise at any one time. There is a comprehensive induction programme for new Board members, which comprises a session on their roles and responsibilities and on the key operational policies and procedures that shape the delivery of the day to day services. This is supplemented by training and development using the Charity Commission 8uidance and resources.
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN TRUSTEES. REPORT (INCWDING DIRECTORS, REPORn ICONTINUED) FOR ThIE YEAR ENDED 31 MARCH 2024 The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the Charity's Memorandurn and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Stsndard applicable in the UK and Republic of Ireland {FRS 102}" (effective l January 20191. Organisatlon The Trustees met as a Full Board 7 times durin8 2023 and 2024. A Lead Trustee continues to work with both the Full Board and the Operational Senior Management Team to update the Risk Register. The day-to-day running of the tharity is dele8ated to the Chief ExecutNe with support from the Senior ManagementTeam. Seniorstaff Chief Executive Area Manager- North Area Manager- Solihull Area Manager- South/Mid Finance Manager Karen Winchcombe Alison Thornpso Jane Holdsworth Tracy Southam Ruby Sarkaria The Directors consider that the Board of Director5 and the Chief Executive comprise the key management personnel of the directing and controlling, running and operating the charity on a doy to day basis. No director received remuneration in the year. Details of directors, expenses and related party transaction5 are disc105ed in note 11 to the accounts. In view of the nature of the charity. the directors benchmark the Chief Executlve remuneration as the average paid for the role in similar sized charities. Rlsk Management A risk register has been established by the Board. Risks are regularly reviewed and updated by the sub committee5 and the Board. The Directors are satisfied that they have considered the major risks to which the charity is exposed, that they have taken artion to mitigate or to manage those risks and that there are systems in place to monitor any changes in those risks.
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN TRUSTEE5' REPORT (INCLUDING DIREcfofts' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Projerts CAVA continued as the Local Infra5trutture Organisation for the Big Local Projects in Arley and Ansley and Hilltop and Caldwell working with two local resident led partnerships to achieve their local plans for the areas. Coventry and Warwickshire ICS extended WCAVA'S contract to provide support to recruit and manage volunteers for a number of the Covid vaccination sites acr055 South and North Warwickshire. The funding for this work was succe55fully tran51tioned from CCG to the Integrated Care System {ICSI. Stratford-on-Avon District Social Inclusion Partnership (SIP) Development officer continued in post to enhance and support the VCSE sector in the distrirt with a focus on workthat addresses the priorities of SIP. Birmingham and Solihull ICS supported work in Solihull to en8a8e wrth the wider VCSE to inform priorities around health inequalities. The Community Builder for Bi5hopton and Clopton continued in post, working with the communities identified as part of the SIP Our work in Warwick District was supported with some Uk Shared Prosperity funding enabling us to support our volunteerin8 progrBmme across the area. The South Warwickshire Place partnership commissioned some bespoke engagement with VCSE groups around their priorities aligned to health and wellbein8. A range of engagement sessions have been delivered. The SWP also commissioned a coordinator post to support the engagement with the VCSE for the Tribe Pilot, exploring a digital solution "Tribe" to support local needs for support and volunteering pathways to add55 these CAVA has been providing support to the ICS Research Engagement Network. CAVA'S role is to provide a link between Researchers and the VCFSE so that communities can offer ideas and highlight priorities for research. CHARITABLE oBJEIVEs The Charitable objertives of WCAVA are detailed within the Memorandum of Association as: To promote all or any charitable purposes for the benefft of the community within the Area of Benefit and in particular the advancement of education, the furtherance of health and the relief of poverty. distress and sickness; Without limitation to the generality of the forgoing to provide resources to include not by way of limitation advlce, guldance, meniorlng. iralnlng. supervlslon and support to organisation5 With similar charitable objectives in order to assist these organisations wtth their charitable work; and To promote and organise co-operation in the advancement of these purposes and to bring together in council representatives of the voluntsry organisations. statutory author Ities and individuals within the Area of Benefit. To protert and preserve the environment for the benefrt of the public.
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN TRU5TEE5' REPORT IINCWDING DIREcfoRS' REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 PUBLIC BENEFIT We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims. objertives and in planning our future activities. In particular, the directors consider how planned activities will contribute to the aims and objectives they have set. How our actlvltles dellver publlc benefft: All of our offices, e-communications and our website provide a vital service as a point of e55ential information and advice not just for our member organisations and groups but a150 for the 8eneral public and partner agencies. Our abilty to signpost the general public to organisations and groups that can assist them with a whole range of issues from debt advice to counselling and youth work to domestic abuse ensures that those who need support can acce55 It. All groups and organisations supported will have a specific femit in themselves to 5UPPOrt their local community or to SUPPOrt a specific area of interest often focussing upon the most disadvantaged or disengaged sections of our society. For marry of our member organisations the support we provide enables them to more effectively deliver support to vulnerable individuals. Furthermore the group5 and organisations that we support enables them to carry out their aim5 or charitable objectives more efficiently whether through securing funding. developing rn0 robust procedures or quality assurance processe5 all provide direct benefit to the citizens of Warwickshire and Solihull through their enhanced front-line service delivery. Our Volunteering Coordinators enable those who wish to contribute their skills. knowledge. time and energy to support others to do 50 for the benefit of or8anisations, groups and individuals within Warwickshire and Solihull. We also support those who work within the private sector to support charities and communities through our skilled volunteering programmes and corporate social responsibility ICSR) offer. STATEMENT OF PURPOSE OUR VISION A thriving and well-resourced voluntsry and community sector throughout Wanvickshire that meets community needs and provides an excellent experience for 311. OUR MISSION Warwickshire CAVA promotes, develops and supports a vibrant voluntary and community sector to enable local people to shape and influence their communities. Warwickshire CAVA'S strategic plan has six broad objectives set out to support the Third Sertor to make a difference to the communities of Warwickshire and Solihull: Membership Volunteering Acce55 Fundraising Partnershlps Marketing Communications
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN TRUSTEES. REPORT IINCLUDING DIREcfoRS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 CAVA is a member of the National Association of Voluntary and Community Action which supports these slx broad principles as well as providing leaders to CAVA on strategic matters of voice. representstion and sector policy and development. ACHIEVEMEMfs AND PERFORMANCE Core Infrastructure Support Work WCAVA'S core activity is to provide Infrastrurture support that assists voluntary. community and social enterprise organisations and groups in Warwickshire and Solihull to form. develop and thrive by accessing the resources they require to meet their charitable objective5 and evidenced community need. Warwickshire WCAVA teams provided support to 1,189 groups and organisatTons working In partnership across all Boroughs and Districts, providing 2.056 incidents of support. Funding continued to be a challenge for many groups and WCAVA assisted with fundin8 applications with 372 application5 SUPPOrted amounting to £7,947,416.82 of which £1,470.452.86 came into Warwickshire within the financial year through funding applications and grant panels. WCAVA teams held 220 events including webinars and workshop5 and contributed to 245 others. which enabled 13.324 people to contribute and for 2,392 or8ani5ations to be UP5killed. The Health and social Care Act 2022 requires the Integrated Care System (through the ICBI, to establish a 'one entry point. {VCFSE Collaborativel for the VCFSE sector. Working alongside ICB partners and Voluntary Action Coventry, CAVA has provided a key role in supporting the development of the Collaborative as part of the infrastructure role for the sertor. The VCSE has a vital role and has become a valued and equal partner forming the Integrated Care System, which is based on co-production. collaborative working and commissioning in tackling health inequalities across the country in line with need. Thi5 work continues into 2024-25 and is led by the formation of the Integrated Care Strategy, formed by the Integrated Care Partnership IICPI and governed by the Integrated Care Board {ICBI. CAVA provide5 representation to the ICP on behalf of the VCSE in Warwickshire and is the VCSE 'Observer' to the ICB. {Als0 see Solihulll. CAVA also provides wider representation to the Warwickshire Care Collaborative. South Warwickshire Place. Warwickshire North Place and the Rugby Place known as the Rugby Health and Wellbeing Partnership. These form part of the wider ICS structure. Our'simply Connect, volunteering portal supported by our volunteering coordinators enables volunteers and volunteer involving organisations to have 24-hour access to volunteering opportunities. During 2023-24 1752 individuals interested in volunteering (Warwickshire) were supported by WCAVA'S volunteering team resulting in 1211 being placed in a volunteering role of which 720 were placed within a service supporting community need. The economic value of this volunteering equates to approximately £4,053,498 per annum, thi5 includes 148 one off ESV (Employee Skilled Volunteering) and micro volunteering Opportunities undertaken.
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION TRUSTEES. REPORT IINCWDING DIRECTORS. REPORT) (coKfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 Solihull We have continued our delivery in Solihull, developin8 partnerships and increasing levels of support to VC5 groups in Solihull working with 140 organisations providing funding and group development support, trustee recruitment and Corporate Social Responsibility (CSRI support and engagement with the wider community sector. 41 groups were given one-to-one support to develop fundraising skills and enable higher levels of confidence around bid writing resulting in £1.525.347 successful grant applications. 60 events and workshops were held with 3,569 attendee5. Through Corporate social Responsibility (CSRI, £5,500 was directly contributed to Solihull communitie5 and businesses donated furniture. easter eggs and stationery to VCS organisations. CAVA facilitated employer SUPPOrted volunteering and helped host 380 older people for Christmas festivities at Birmingham NEC. The Solihull Volunteer Mana8ers' Forum facilitated by WCAVA continued to meet regularly and be a valued resource to volunteer managers and the NSVCA (North Solihull Voluntary and Community Alliance) w35 a150 valued as a focal point for organisatons working in the north of the borough. Solihull's Volunteering Coordinator supported 109 volunteers. and 56 volunteer-involving organisations IVIO'S) were given one-to-one support regarding recruitment and management of volunteers. 17 VIO'S were asslsted to utilise Simply Connect, the volunteer brokerage portal, and in totsl 97 volunteering Opportunities were advertised. 116 new volunteers were also signed up to the Simply Connect portal to find volunteering placements from the available volunteering opportunities. The economic value of volunteering was estimated as £388,416. During the year we have continued to disseminate electronic information to groups and organisations. Our e- zine and bulletin subscription levels 5t3nd at 2.629 across Warwickshire and Solihull Restricted Fund Activities During the year we have undertaken a wide range of projett work detsiled in note 23. FINANCIAL REVIEW The Directors report that: Unrestrirted Funds for the year show a net expenditure of £112,68012023: net income of £39.281} Designated Funds showed a net expenditure of £24.548 {2023: nil net movement) Restrlcted Funds showed a net income of £60.33912023: net income of £89,531) Endowment Funds showed a net expenditure of £4,892 (2023: net expenditure of £4.743)
WARWICKSHIRE COMMUNITY AND VOLUNTARY AlON TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Review of financial position at the end of the reportin8 period Flnanclal effect of sl8nificant events Sale of Rugby Premises Followin8 on from the Boards decision in 22123 to approve the sale of WCAVA Rugby premises the premises were offered for sale. The sale was completed in April 2024 for £335k and the monies were recesved in the 202412025 financial year. Cost of Livin8 Crisis The new Pay Policy following the pay review undertaken in 2022-23, was implemented and took effect from 01104123. The Board also recognised the financial impact on WCAVA staff during the year and agreed further 3% payment to each member ofstaff. Big Local Arley This project will finish in the next financial year and temporary stsff contracts will end August 2024. Principal Risks. Uncertainties. summary of plans and strategies for managing th05e risks During 2022, the Clinical CoTnmi5sioning Groups evolved into the Integrated Care System. CAVA received circa £65k annually from the CCG towards infrastructure support for the sector and was uncertain. due to changes in system. if thi5 funding would continue. This risk was identified and following discussions with the commissioner this funding has been secured for 2024-25. In addition, CAVA will receive a second line of grant income to the value of £72,5001+3% for 251261 to host the ICS VCFSE Collaborative which will see the employment of a Pro8ramme Managerto deliver r(5 ambitions. The contract with 50lihull Metropolitan Borough Council was due to end in March 2024 but has been extended to September 2024. WCAVA have completed a tender for the new contract and are currently awaiting the outcome. The risk includes a drop in IO% of our income and potential10ss of staffing. TUPE information has been requested which helps reduce risk to job security and an exit strategy will be devised to manage, in the event of end of contract. The Board are mitigating each stsge of the process and are managing this through strategy partnership working and communication with existin8 and new Commissioners to identify opportunities for new funding in the future. CAVA a150 applied for a new chapter of fundin8 With both Warwick and Rugby Distrirt Councils of which both were successful. Fartors likely to affect future financial perforrnan or posltion Due to the current climate and significant inflation/cost of living crisis. the predicted budget pressure in 2024125 is £5k. Thi5 risk is being managed by a review of the Warwick Di5trlct physlcal assets; monltorlng of the management accounts process and a review to explore more efficient Systems and processes. New ways of workin8 are bein8 implemented to utilise the underspend on the Levelling up funds which is an extension to the County Contract.
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORn (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The contract with Warwickshire County Council (WCC) has been avrded on a fixed c05t each year for the lifetime of the contract and therefore not able to meet the challenges brought about by the unprecedented increase in inflation. Whilst budget pressure discussions and negotiations are currently being held with the Council, CAVA also recognizes the financial impart on all Councils brought about by the cost-of-living crisis and the Local and General Elections. CAVA'S initial 3-year contrdct with Warwickshire County Council is due to expire on 3110312025 however, thi5 15 likely to move into the +2 extension as part of the original contract terms. The SMT and CEO are in continuous dialogue with its Contract Manager to ensure it can receive ary update5 which it may need to respond to in a timely and proactive way. The Board have identified this risk and are working to reduce through ongoing dialogue with WCC and reviewin8 if the current sale of fixed assets will support financial sustainability through alternative investment and 8rovrth opportunities, as well as cost savings and diver5ification of income, especially unrestricted. Principal Sources of Funding Our principal Source of funding continues to be from Warwickshire County Council. The charity did not carry out significant fundraising activities in the year. Freehold Property The freehold properties, after depreciation, had a net book value of £318,800 at 31 March 2024. The properties are functional assets used in the fulfilment of our charitsble objects and the Directors consider the amount refiects the value in use. The Directors also consider that the value is a reasonable approximation of market value and that any fluctuation is temporary and would not materially impact on the understanding of the charitable company's financial position by the reader of the financial statements. Investment and Reserves We continue to be committed to maximising our income. in relation to investments, within an ethical framework, but without taking any undue risks. Our surplus funds are invested in several low risk higher yield investments with well-known financial institutions and are regularly reviewed by the Board. With regards to Reserves. we have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charitable company should equate to no less than 15% of the unrestricted funds expended. This equates to £131,192 for 202312024. At this level the Directors feel that they would be able to continue some of the current activfties of the charity in the event of a significant drop in funding. At the year end, free reserves are in deficit of £{64.731}. The free reserves are below the policy level at the year end, however the Rugby premises were sold in April 2024. This releases £335k into free reserves to use for future charitable activities and development of the or8anisation. Taxation As a charity, subject to certain restrictions, Warwickshire Community and Voluntary Action is exempt from corporation tax on income and gains. No liability arises in the year. The Charity wa5 re8i5tered for VAT throughout the year and all resources expended include non-reclaimable VAT as appropriate.
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION TRUSTEES. REPORT (INCWDING DIREcfoRS' REPORT) {CONTINUED) FOR THE YEAR EJVDED 31 MARCH 2024 Grart Making Grant Making is not a material element of Warwickshire Community and Voluntary Attion's artivities. During the year however, the Charity has facilitated the making of 8rant5 to local organisations and charities by way of supporting grant making bodie5 includin8 Bi8 Local Trust. These transactions are detailed in note 8. PLANS FOR FiJfuRE PERIODS 2023124 ha5 been a year focused on devising the new Vision and Strategic Prioritie5 for 2023-26. Various consultations were undertaken with both internal and external stakeholders to Identify both need and our opportunities for development. The demand for our support has remained high compoursded by the impact of Cost of living on VCSE sector and the significant increase in volunteer recruitment. The fact that over 2300 organi5ations and 8roup5 and over 1200 volunteeTS have been supported is testament to the hard work and dedication of our staff and volunteers. It continues to be harder and harder to secure funding and sOUrceS for the vast amount of organisations and groups that we support and going forward we are putting resource into developing relationships in the following key areas.. DiveTSifyins our FurKlin8 Base We successfully diversified our funding base over recent years and generated a significant proportion of our income through independently earned income. However with the uncertainty of funding streams going forward and the impact of Cost of Living. this may impact on such projects going forward. We will therefore renew our efforts to strengthen our position by pursuing funding opportunities with our strategic partners, private sertor 3nd by introducing 3 new income generation strategy for the organisation. Prlvate Sertor Partner Support Relationships continue to be established with private sector partners 3nd the work we do with them around Corporate Social Responsibility ICSRI, including Employee Skilled Volunteering {ESVI. Going forward a new CAVA CSR working party will be established to build on our current level of partner support. Board structure Review Having completed and implemented the organisatTon restructure the Board recognised more value in meeting as a whole Board and have therefore agreed to meet as a full board on a bi-monthly ba515. Diverslty It is imperative that WCAVA is representative of the communities in which service5 are delivered. During 2023-24 we continued our development on this area. working directly with a Lead Trustee for E&D and SMT member to improve diversity in terms of recruitment of staff, volunteers. Trustees and to address how we can improve our reach to diverse communities and groups and now have in place an organisation Equality & Diversity Action Plan. Increa5in8 Membership There is a general desire to increase the number of groups CAVA can support a5 it provides consistently high levels of support to organisations and groups who are not member organisations. Going forward WCAVA'S strength can be in its membership and a two-way relationship that will bring benefit to both parties. This will provide improved understanding of our members, needs thereby providing 5tron8er ewdence for future funding bids. Moving forward. in 2024-25. the Board and SMT will consider its position as a strategic priority for the organisation and which approach it will take in line with the new strategy.
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACflON TRU5TEES' REPORT IINCLUDING DIREcfoRS' REPORn ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Communication & Marketin8 WCAVA considered its strategic priorities and developed a marketing and comms plan which focuses work on a stronger digital presence in order to be better placed to increase the reach of our members, voices and celebrate their impatt. During 2023124, CAVA revamped the website. Property Portfolio In 2022-23 a significant review of the organisation's properties was undertaken to identify assets and risk in relation to need. In early 2023, the Board agreed to market the sale of the rugby office due to chan8in8 Staff needs and hybrid working. The Rugby premises were sold in April 2024 for£335k. 10-
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN srATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR EhlDED 31 MARCH 2024 DIREcn)RS' RESPONSIBILMES The Directors are responsible for preparing the Direttor< Report and the financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prarticel. Company law requires the Directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for the year. In preparing these financial statements. the Director5 are required to: • select suitable accounting policie5 and then apply them consi5tently- • 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, Subject to any material departures disclosed and explained in the financial 5tatements,' prepare the financial statements on the going concern basis unles5 it 15 inappropriate to presume that the charitable company will continue in operation. The Directors are responsible for keeping adequate accountin8 record5 that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the Charities Act 2011. They are also re5pon5ible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the prevention and detection of fratjd and other irregularities. In so far as the Directors are aware: there is no relevant audit information of which the charitable company's auditor is unaware,. and the Directors have taken 311 steps that they ought to have taken to make thernselves aware of any relevant audit information and to establish that the auditor is aware of that information. The Directors are responsible for the maintenance and inte8rity of the corporate and financial information included on the charitable company's websrte. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdirtions. This report was approved by the Board on ..IK8E. 2011t . Andrew Gabbitas Chai 11
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WARWICKSHIRE COMMUNITY AND VOLUrARy AlON Opinion We have audited the financial statements of Warwickshire Community and Voluntsry Action {the 'Charity'l for the year ended 31 March 2024 which comprise the statement of financial activities. the summary income and expenditure account. the balance sheet. the statement of cash flobvs and the notes to the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kin8dom Accountin8 Standard5, includir$8 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ire13nd" (United Kingdom Generally Accepted Accountin8 Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitable companvs affairs as at 31 March 2024 and of its incoming resources and application of resource5. including its income and expenditure, for the year then ended,. have been properly prepared in accordance with United Kingdom Generalty Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 21JO6. Basis for opinion We condurted our audit in accordance with Intemational Standards on Auditing {UK) IISAS IUKII and applicable law. Our responsibilities under those stsndards are further described in the Auditor'5 responsibilities fvr the audit of the finonciol st(Jtements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Stsndard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatin8 to going concern In auditing the financial ststements, we have concluded that the Trustees. use of the going concem bosis of accounting in the preparation of the financial ststements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that. individu3lly or collectively, may cast significant doubt on the Charity's ability to continue as a Boing concern for a period of at least twelve 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 sertions of this report. 12-
WARWICKSHIRE COMMUNITY AND VOLuMfARY AcfioN INDEpENDEr AUDtroR'S REPORT (CONTINUED) TO THE MEMBERS OF WARWICK5HIRE COMMUNITY AND VOLuNfARY ACTION Other information The other information comprises the information included in the annual report other than the financial Statements and our auditor's report thereon. The Tru5tee5 are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our rg.Ptsrt. we do not exp5$ any form of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether thi5 gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material mi55tatement of this other information. we are required to report that fact. We have nothing to report in this regaTd. Opinions on other matters prescribed by the Companies Art 2006 In our opinion, based on the work undertaken in the course of our audit: the information given in the Trustees, report for the financial year for which the financial statements are prepared. which includes the directors. report prepared for the purposes of company law. is con515tent with the financial statements: and the directors, report included within the Trustees, report has been prepared in accordance with applicable legal requirements. Matter5 on which we are required to report by exceptlon In the light of the knowledge and understsnding of the Charity and its environment obtained in the course of the audit, we have not identrfied material misstatements in the directors. report included within the Trustees, report. In the li8ht of the knowledge and understandin8 of the charitable company and its environment obtsined in the course of the audit, we have not identified material misstatements in the Director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion= certain disclosure of directors, remuneration specified by law are not made; or the financial statements are not in agreement with the accounting records and returns and retums; or certain disclosure5 of trustees. remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or; or the Trustees were not entitled to prepare the financial rtatements in accordance with the small companies, regime and take advantage of the small companies, exemption in preparing the directors, report from the requirement to prepare a strategic report. the Trustees were not entitled to prepare the finar¢cial statements in accordance with the small companies regime and take advantage of the small companie5, exemptions in preparing the Trustees. report and from the requirement to prepare a 5trate8ic report. 13-
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN INDEPENDEMf AUDITOR'S REPORT (coMfiNUED) TO THE MEMBERS OF WARWICKSHIRE COMMUNrrY AND VOLUNTARY AcfioN Responsibilities of Trustees A5 explained more fully in the statement of Trustees, responsibilities. the Trustees, who are also the directors of the Charity for the purpose of company law. are responsible for the preparation of the financial Statements and for being satisfied that they 8ive 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 error. In preparing the financial statements. the Trustees are responsible for assessing the Charity's ability to continue as a going concern. disclosinB. as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financlal staternents Our objectives are to obtain reasonable assuran about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor'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 with ISAS IUK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the bo515 of these financial Statements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud. is detailed below. We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which it operates and assessed the extent of compliance with these laws and re8ulation5 as part of our procedures on the related financial statement items. Based on our understanding of the charity and the sector5 it operates in we identified that the principal risks of non-cornpliance with laws and regulations related to breaches of Charities Act 2011, UK Tax Legi513tion and UK Employment Law; Companies Act 2006- Safeguarding and GDPR regulation5; and the terms of the charity's governing documents. We also evaluated mana8ement incentive and opportunities for fraudulent manipulations of the financial statements. 14-
WARWICK5HIRE COMMUNITY AND VOLUNTARY ACTION INDEPENDENT AUDrroR'S REPORT (CONTINUED) TO THE MEMBERS OF WARWICKSHIRE COMMUNITY AND vOLUrARy AcfioN Audit procedure5 performed included: Identifying and assessing the design effectiveness of controls in management have in place to prevent and detect frdud. Challenging assumptions and judgments made bv management in their significant accounting estimates and a55es5ing rf these indicate evidence of management bias- Reviewing the accounting records for large and unusual journal entries and testing any identified and in particular the rationale for any transactions outside the chority's normal course of activity; Reviewing the accounting records for large and unusual bank payments and testinE any identified and in particular the rationale for any transactions outside the tharity's normal course of activity- Testing a Sample of debit entries in the profit and Ios5 account to check they are bona-fide costs made for the benefit of the charity; Discussions with management. including consideration of known or suspected incidences of non- compliance with laws and regulation and fraud; Reviewing retums made to Companies House and HMRC. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or nork-compliance with regulation. Thi5 risk increases the more that compliance WFth a law or regulation is removed from the events and transactions reflected in the financial ststements. as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularitie5 occurring due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion. omission or misrepresentation. A further description of our responsibilities is available on the Financial Reporting Council'5 website at: https://www.frc.org.uVauditorsresponsibilities. This description forms part of our auditor's report. Use of OUT report This report is made solely to the charit3ble companvs members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's member5 those matter5 we are required to state to them in an audttors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, of for the opinions we have formed. Wende Hubbard FCCA (Senior Statutory Auditor) for and on behalf of Burgis & Bullod( 21 st October 2024 Chartered Accountants Statutory Auditor 23-25 Waterloo Place Leamington Spa Warwickshire CV32 SLA 15-
WARWICKSHIRE COMMUNrrY AND VOLUNTARY AcfioN srATEMENT OF FINANCIAL AcfiviTIES FOR THE YEAR ENDED 31 MARCH 2024 Current financial year Unrestricted Unrestrirted Restricted Endowment funds funds fvnds funds 8eneral Designated 2024 2024 Total Total 2024 2024 2024 2023 Notes Income and endowments from: Donations and legacies Charitable artivitie5 Investments Other income 3,328 627,126 4,243 104,006 695 799,649 4.023 1,823 1.426.775 1.425,537 4.243 583 104.006 117,087 Total income 738,703 8(M),344 1,539,047 1,545,030 Ex enditure on: Charitable artivities 874.611 1,320 740.005 4,700 1,620,636 1,420,918 Totsl expenditure 874,611 1,320 740.005 4,700 1,620,636 1,420,918 Net gainslllossesl on investments 11921 {192} {431 Net (outgoingllincoming resources before transfers {135.908} 11.320) 60,339 (4,8921 {81,781} 124.069 Gross transfers between funds 23,228 123,228) Net movement in funds 1112,680) 124.548) 60.339 (4.8921 {81,781} 124,069 Fund balances at l April 2023 394,919 24,548 453.945 190.306 1.063,718 939,649 FuTtd balances at 31 Mareh 2024 282,239 514,284 185,414 981,937 1,063.718 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing artivities. 16-
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN STATEMENT OF FINANCIAL AcfiviTIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Prior financial year Unrestrlcted Unrestricted Restricted Endowment funds fun(ts funds funds general Designated 2023 2023 Total 2023 2023 2023 Notes Income and endowments from: Donations and legacies Charitable activities Investments Other income 1,587 626,384 583 117,087 236 799,153 1,823 1,425,537 583 117,087 Total income 745,641 799.389 1,545,030 enditure on: Charitable activities 706.360 709,858 4,700 1,420,918 Total expenditure 706,360 709.858 4,700 1,420,918 Net gains1{losse5) on investments {43} 1431 Net loutgoing)/incorning re50urce5 before transfers 39.281 89.531 14.743} 124.069 Net movement in funds 39,281 89.531 14.7431 124,069 Fund balance5 at l April 2022 355,638 24.548 364.414 195,049 939,649 Fund balances at 31 Marth 2023 394,919 24.548 453.945 190,306 1,063.718 17-
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 All Income funds 2024 2023 Gr05s income Gainslllosses) on investments L539.047 {19Z) 1.545,030 143) Total income in the reporting period 1.538.855 1.544,987 Total expenditure from income funds 1,620,636 1,420,918 Net (expendlture)Ilncome for the year (81.781) 124,069 18
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notss Flxed assets Tangible a55et5 Inve5tment5 14 518,057 16.214 520,539 16,406 15 534.271 536.945 Current assets Debtors Cash at bank and in hand 17 186.110 484.038 388,071 447,314 670,148 835,385 Creditors: amounts falling due within one year {222,482) (308,612) Net current assets 447,666 526,773 Total assets less current liabilities 981.937 1,063,718 Net assets 981.937 1.063,718 The funds of the Charity Endowment funds Restricted incorne funds Unrestricted funds- general Unrestricted funds- designated funds 21 185.414 514.284 282.239 190.306 453,945 394.919 24.548 23 22 981,937 1.063.718 The financial statements were approved by the Trustees on a.i.&+ OG*okxf 2Da4 kPL- Andrew Gabbita Trustee P Robson Trustee Company registration number 06531268 (England and Wales) 19-
WARWICK5HIRE COMMUNITY AND VOLUNTARY AcfioN srATEMENT OF CASH FLOWS FOR 7HE YEAR EhlDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating artivities Cash generated fromllabsorbed bvl operation5 28 48,053 185.044) Investing activities Purchase of tangible fixed assets Investment income received 115.572} 4,243 165.640} 583 Net cash used In Investing artlvltles {11.3291 (65.0571 Net cash used in financing actfvltles Net increase/(decrease) in cash and cash equivalents 36,724 1150,1011 Cash and cash equivalents at beginning of year 447,314 597,415 Cash and cash equivalents at end of year 484.038 447,314 -20-
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EAIDED 31 MARCH 2024 Accounting Pollcies Charlty Inforniation Warwickshire Community and Voluntary Action 15 a charitable company limited by guarantee. incorporated in England & Wales on 11 March 2008 and re8lStered in Cardiff, as a charity on l April 2008. Th@ regist@rèd offitè is 4-6 Clemens Street. Leamin8ton Spa. CV31 2DL. 1.1 Accounting Convention The financial statements have been prepared in accordance with the Companies Act 2006. and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}" leffective l January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The financial Statements are prepared in sterling, which is the fvnctional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial ststements have been prepared under the historical cost convention, modified to include fixed asset investments and certain financtal instruments at fair value. The principal accounting policie5 adopted are set out below. 1.2 Golng Concern At the time of approving the financial statements, the Trustees have a reasonable expertation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thu5 the Trustees continue to adopt the 80ing concern basis of accounting in preparing the financial statements. 1.3 Charftable Funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Designated funds are unrestrirted funds that the directors have set aside for specific purposes. Restricted funds are funds that can onty be used for particular purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are rdised for particular restricted purposes. Endowment funds are funds which are gifted and where re5trittions arise when specified by the donor and capital is not used for direct expenditure. 1.4 Incoming Resources Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. 21-
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN NcyfES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Ac¢ountln8 Pollcles {Q)Thtinued) Grant5 and other income are recognised when the income is due providing terms and conditions have been met. Rental income is recognised on a straight line basis over the contracted term. Income 15 measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts. VAT and other sales related taxes. 1.5 Resources Expended Liabilities are recognised as resources expended as soon as there 15 a legal or constructive obligation cornmitting the charity to the expenditure. All expenses are accounted for on an accruals basis. Expenditure incurred on support Costs arises from project management, split as agreed by Funders. Finance and Human Resources costs allocated to projects paying for these costs. and central overheads and general management which are spltt on a full time equivalent employee basis. Other funders aEree a percentage of salary expenditure incurred during the year. Governance costs only include the audit fee, AGM expenditure, Director5, expense5 and Companies House fee. Expenditure byArtivity Charitable expenditure is allocated to relevant artivities on a direct cost basis and. in respect of anv shared administration costs. as set out above under 'Resources Expended.. Activities are categorised by way of projects being undertaken and the provision of the charity's core objective5 in providing Infrastructure support to the local. voluntsry and community sector. The tota5 expenditure incurred on each individual activity is disclosed in the financial statements. The Trustees also provide a further analy515 of the overall expenditure incurred by the charity by cost centre. The Trustees believe this information provides the reader of the financial statements with a clearer understanding of the costs associated with delivering their charitable attivities and the overall nature of those costs. 1.6 Tanglble Flxed 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 charged by annual instalments commencing with the date of acqui51tion at rates estimated to write off their cost less any residual value over the expected useful lives a5 follows: Freehold land and buildings Leasehold improvements Furniture and equipment 50 years straight line Over life of lease 5 years straight line Furniture and equipment with a monetary value of less than £2,500 is written off in full in the year of purchase.
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting Policies {Contlnued) 1.7 Fixed a55et investments Investments are a form of basic financial instrument and are initially recogni5ed at their transaction value and subsequently me3%urp.d At thpir value at the balance shegt d3te using the closing quoted market price. The statement of financial activitie5 includes the unrealised gain or loss arising on revaluation. 1.8 lrnpalrrnent of flxed 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 impairment105s (if any). 1.9 Cash and cash equl¥alents Cash and cash equivalents indude cash in hand, dep05it5 held at call with banks. other short-term liquid investments with original maturities of three months or less. 1.10 Financial in5twuments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments15sues' of FRS 102 to all of its financial instruments. Financial a55ets and liabilities are recognised when the charity becomes party to the contractual provisions of the instrument. The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. All financial assets and liabilities are initially recorded at transaction price. Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. Ba5icfinancial a55ets Basic financial assets are subsequently carried at amortised cost using the effective 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. Baslcfinantlal Ilabllities Basic financial liabilities, includin8 creditors and provisions are recognised where the charity has a present obligation resultin8 from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due and are subsequently carried at amortised cost. usine the effective interest rate method. Financial assets and liabilities classified as receivable or payable within one year are not arnortised.
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Acfountlng Pollcles (Continued) Derecognltlon oAfinonclol Ilabllities Financial liabilitie5 are derecogni5ed when the charit(s contractual obligations expire or are dSschar8ed or cancelled. Rentals payable under operating leases are charged against incorne on a straight line basis over the period of the lease. 1.11 Pension costs The charity operates a third party defined contribution scheme. The pension charge is Shown in note 11 to the accounts. 1.12 Retiremert benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.13 Operating Leases Rentals payable under operating leases. including any lease incentive5 received, are charged as an expense on a straight line basis over the term of the relevant lease. Critical accounting estimates and Judgements In the appllcation of the Charity5 accounting policies. the Trustees are required to make judgements. estimates and assumptions about the carrwng amount of assets and liabilities that are not readily apparent from other sources. The estimates and a550ciated 355umptions are based on historical experience and other factors that are considered to be relevant. Attual 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 whid) the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affect5 both current and future periods. The following judgements and estimates have had the most significant effect on amounts recognised in the accounts: Analysls of expendlture on actlvlty basis The charity has used judgement to allocate expenditure to its principal activities. Expenditure on support costs is allocated to projects paying for these costs. and central overheads and general management costs are split on a fvll time equivalent employee basi5. Other funders agree a percentsge of salary expenditure incurred during the year. -24-
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION NOTES TO THE FINANCIAL sfATEMENTS (coKfiNUED) FOR 7HE YEAR ENDED 31 MARCH 2024 Income from donations and legacles Unrestricted Restrirted funds funds 2024 Z024 Total Unrestrlcted Restricted funds funds 2023 Z023 Total 2024 20Z3 Donations and gifts 3,328 695 4,023 1.587 236 1,823 Charltable artlvltles Charltable Charitable Income Income 2024 2023 Grants Supply of service5 Contractual payments Other trading income Sponsorship income 561,629 70,395 824,340 1,361 5.050 690,597 46.751 687,440 749 1.426.775 1,425,537 Analysis by fund unrestricted funds - general Restricted funds 627.126 799.649 626,384 799,153 1.426.775 1.425,537 Income from investments Unrestricted Unrestrltted funds funds 2024 2023 Income from listed investments 4.243 583 -25-
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN NOTES TO THE FINANCIAL STATEMENTS IcoNfiNUED) FOR THE YEAR ENDED 31 MARCH 2024 Other Income Unrestrlrted Unvertrlrted funds funds 2024 2023 Rent receivable 104,006 117,087 -26-
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN NOTES TO THE FINANCIAL 5TATEMEKrs (coKriNUED) R?R THE YEAR EhlDED 31 MARCH 2024 Expenditure on charitable activities Charitable Charltable Expenditure Expenditure 2024 2023 Dirert costs Staff costs Depreciation and impairnient Premises Costs Travelling expenses Office expenses Equipment hire and rental Repairs and maintenance General expenses Irrecoverable VAT Bank charges Professional Fees IT Costs 1.042,989 18.054 76.995 19,252 16,888 10,162 43,287 112,028 18,052 922.695 17,140 65,090 10,315 11,108 4,067 55,917 100,750 5,507 li 1,181 24,199 36,683 3,594 1.418 29,889 32.953 2,258 Direct Costs 1.423,364 1,259,107 Grant funding of activities (see note 81 188,705 154,546 Share of support and govemance costs (see note 91 Governance 8,567 7,265 1.620,636 1,420,918 Analysls by fund Unrestricted funds- 8eneral Unrestricted funds- designated funds Restricted funds Endowment funds 874,611 1,320 740,005 4.700 706,360 709,858 4,700 1.620,636 1,420.918 -27-
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION NOTES TO THE FINANCIAL sfATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payable Charitsble Charitable Expenditure Expenditure 2024 2023 Grants to institutions: BL Arley & Ansley BL Hill Top & Caldwell Other minor fund5 LS1 Carers Coventry CDA Grapevine Ex Minin8 Villages Partnership WCC Digita5 Exclusion Projects National Association of Food Programme Amanah Youth 84.214 19,204 1,287 31.624 2.482 3,891 25.052 40.000 40,000 40.000 40,1)00 10,497 188.705 154,546 Support costs allocated to activitie5 2024 2023 Governance costs 8,567 7,265 Analy5ed between: Charitable Expenditure 8,567 7,265 2024 2023 Governance costs comprise: Audit fees Le8al and professional Trustees expenses 8,000 400 6,969 167 296 8,567 7.265 -28-
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) R?R THE YEAR EhlDED 31 MARCH 20Z4 10 Net movement In funds 2024 2023 The net movernent in fund5 is stated after charging/{creditingl: Fees payable for the avdit of the charity'5 financial Statements Depreciation of owned tsngible frAed a55ets 8,000 18,054 6,969 17,140 11 Trustees None of the Trustees (or any persons connerted with them) received any remuneration or benefits from the Charity during the year. Expenses amounting to £167 were reimbursed to 3 trustees during the year12023 - £296 reimbursed to 2 trustees). 12 Employees The average monthly number of employees during the yearwas: 2024 Number 2023 Number 42 41 Employment costs 2024 2023 Wages and salaries Social security costs other pension costs 937,635 72,384 32.970 810,170 67,809 44,716 1.042.989 922,695 The number, on the basis of full time equivalents by analysed functions, was: 15.1 WCAVA Core Activities staff12023 15.6) and 14.6 other Projects staff12023 13.31. There were no employees whose annual remuneration w3s more than £60,1.
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN N(E5 TO THE FINANCIAL STATEMENT5 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Gains and losses on Investments Endowment Endowment funds funds 2024 2023 Gains/llossesl arising on: Revaluation of investments 11921 1431 14 Tangible rd assets Total aml IMAldlw vnprg¥efflents equipment Cost At l April 2023 Additions 455,000 2(Ki,880 15.572 18,578 674,458 15,572 At 31 March 2024 455,000 216.452 18,578 690,030 Depreciation and Impalmient At l April 2023 Depreciation charged in the year 127,100 9.100 12.014 7.068 14,805 1,886 153,919 18,054 At 31 March 2024 136.200 19,082 16,691 171,973 Carrying amount At 31 March 2024 318,800 197,370 1.887 518.057 At 31 March 2023 327,900 188.866 3.773 520,539
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION NOTES TO THE FINANCIAL sfATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Flxed asset Investrnents Llsted Investments Cash In portfollo Total Cost or valuation At l April 2023 Valuation changes 8.839 1192} 7,567 16,406 11921 At 31 March 2024 8.647 7,567 16,214 Carrylng amount At 31 March 2024 8.647 7,567 16,214 At 31 March 2023 8.839 7,567 16,406 16 Financial instruments 2024 2023 Carrying amount of financlal assets Instruments measured at fair value through profit or loss 8,647 8,839 17 Debtors 2024 2023 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 121,621 2,705 61,784 361,395 2,705 23,971 186.110 388,071 31-
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN NOTES TO THE FINANCIAL 5TATEMENT51CONTINUED) FOR THE YEAR ENDED31 MARCH 2024 18 Creditor5: amounts falling due within one year 2024 2023 Notes Other tsxation and social security Deferred income Trade creditors Other creditors Accruals and deferred income 126.475 13.5 38,082 31.380 13.045 51,972 96,231 115.957 21,976 22.476 19 222,482 308,612 19 Deferred Income 2024 2023 Other deferred income 13.SC(I 96.231 Deferred income related to grants and service contrart income received in advance is included in the financial statements as follows: 2024 2023 Deferred income is included within.. Current liabilities 13,5¢X) 96.231 Movements in the year: Deferred income at l April 2023 Released from previous periods Resources deferred in the year 96.231 126.057 (84,231} {19Q.7681 1.5C(I 160.942 Deferred income at 31 March 2024 13.51JO 96.231
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENT5 (CONTINUED) FOR ThIE YEAR ENDED 31 MARCH 2024 20 Retirement benefit schemes 2024 2023 Deflned contrlbutlon schemes Charge to profit or loss in respect of defined contribution Schemes 32,970 32.528 The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. 21 Endowment funds Endowment funds represent assets which must be held permaner*tly by the Charity. Income arisin8 on the endowment funds can be used in accordance with the objects of the Charity and is included as unrestricted income. Any capital gains or1055es arising on the assets form part of the fund. At l April 2023 Resources expended Gains and At 31 March losses 2024 Permanent endowments Morwenna Hughes Memorial Fund Freehold Premises 16.406 173.9(10 1192) 16.214 169.200 14.71KII 190,306 14,7001 11921 185,414 Previous year: At l April 2022 Resources expended Gains and At 31 March losses 2023 Permanent endowments Morwenna Hughes Memorial Fund Freehold Premises 16,449 178.600 1431 16,406 173,900 14.700} 195.049 14.700} 1431 190,306 -33-
WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Unrestrlcted funds- designated funds The incorne funds of the charity include the following designated fund5 which have been set aside out of unrestricted funds by the trustees for specific purposes: At l Aprfl 2023 Resources expended Transfers At 31 March 2024 Nuneaton - Newtown Centre 24.548 (1,3201 123,2281 Previous year: At IApril 2012 Resources expended Transfers At 31 March Z023 Nuneaton - Nertown Centre 24.548 24.548 Transfers of £23.228 were made from the designated fund to the unrestrirted fund to cover capital and revenue expenditure in relation to the Newtown Centre.
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WARWICKSHIRE COMMUNITY AND VOLUNTARY AcfioN NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Analysis of net assets between fvnds Unrestricted Unrestricted funds funds seneral designated funds 2024 Restricted Endowment funds funds Total 2024 2024 2024 2024 At 31 March 2024: Tangible assets Investment5 Current assetsllliabilities) 346,970 1,887 169,200 16.214 518,057 16,214 447.666 164,731) 512.397 282.239 514.284 185.414 981.937 Unrestricted Unrestricted funds funds general deslgnated funds 2023 Restrirted Endowment funds funds Totsl 2023 2023 2023 2023 At 31 March 2023: Tangible assets Investments Current assets/(liabilities) 153.999 188.867 3,773 173,900 16,406 520,539 16.406 526,773 240.920 {164,3191 450,172 394.919 24,548 453,945 190.306 1.063.718 25 Operating lease commitments At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating le35es. which fall due as follows.. 2024 20Z3 Within one year Between two and five years In over five years 14,396 4,953 629 8,161 3,939 679 19.978 12.779 -43-
WARWICKSHIRE COMMUNITY AND VOLUNTARY ACTION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Events after the reporting date On 12th April 2024 the charity sold the Rugby property for £335,01} which is held in tsngible fixed assets at a net book value of £149,600 at the year end. 27 Related party transactions Remuneration of key management personnel The remuneration of key management personnel wa5 as follows: 2024 2023 Aggregate compensation 63.302 66,373 28 Cash generated from operatlons 2024 2023 {Deficit)Isurpus for the year (81,7811 124.069 Adjustments for: Investment income recognised in statement of financial activities Fair value gains and losses on investments Depreciation and impairment of tsn8ible fixed assets {4,243) 192 18,054 15831 43 17,140 Movements in working capital: Decreasellincreasel in debtors (Decrease) in creditors {Decrease) in deferred income 201,961 {3,399} 182,7311 (172.639) {23,2481 {29,826) Cash generated froffl/(absorbed by) operations 48,053 {85,044) 29 Analysis of changes in net funds The Charity had no material debt during the year.