**Charity Registration No. 1126779**
## **NENE VALLEY CARE TRUST**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 OCTOBER 2022**
## **NENE VALLEY CARE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Mrs S Abbott (Resigned 28/02/2022) Mr H Anstey Lady A Arculus (Reappointed 12/09/2022) Mrs P Padley Mrs J Kirkbride Mrs C Buckett Mr Q Macdougall (Treasurer) Mrs A Chamberlain **Chairman** Mrs P Padley **Charity number** 1126779 **Principal address** 5 Pexley Court Oundle Northamptonshire PE8 4EL **Independent examiner** TC Group Brightfield Business Hub Bakewell Road Orton Southgate Peterborough Cambridgeshire PE2 6XU
**NENE VALLEY CARE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 3|
|Statement of Trustees' responsibilites|4|
|Independent examiner's report|5|
|Statement of fnancial actvites|6|
|Balance sheet|7|
|Notes to the fnancial statements|8 - 13|
## **NENE VALLEY CARE TRUST**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
The trustees present their report together with the financial statements for the year ended 31 October 2022. The financial statements have been prepared in accordance with the accounting policies set out on page 8 and comply with the charity's trsut deed and applicable law. The trustees have adopted the provisions of the Statement of Recommended Practice 'Accounting and Reporting by Charitities: Statement of Recommended Practice (FRS 102)' in prepating the annual report and financial statements of the charity.
## **Structure, governance and management**
## _**Nature of governing document**_
The Nene Valley Care Trust is registered as a charity with the Charity Commission. The charity is governed by a constitution adopted on 31 October 2008.
## _**Recruitment and appointment of trustees**_
The Trustees who served during the year and up to the date of signature of the financial statements were: Mrs S Abbott (Resigned 28/02/2022)
Mr H Anstey Lady A Arculus (Reappointed 12/09/2022) Mrs P Padley Mrs J Kirkbride Mrs C Buckett Mr Q Macdougall (Treasurer) Mrs A Chamberlain
New trustees are elected by the existing trustees of the charity with appointments and reappointments being decided on annual basis. Trustees have the power to appoint new trustees on an interim basis until the next AGM.
## _**Induction and training of trustees**_
New trustees will undertake a brief orientation with some of the existing trustees prior to recommendation for appointment, during which time they will have had the vision and strategy of the charity explained to them. Trustees are encouraged to attend appropriate external training events where these will facilitate the performance of their role.
## _**Organisational structure**_
The charity is administrated by the trustees. There must be at least three trustees but no more than nine trustees. Apart from the first trustees, every trustee must be appointed for a term of four years by a resolution of the trustees passed at a special meeting. The trustees must hold at least two meetings each year.
## _**Major risks and management of those risks**_
The charity’s trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate their exposure to the major risks.
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## **NENE VALLEY CARE TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **Objectives and activities**
## _**Objects and aims**_
The object of the charity is the relief of and advancement in life of young adults and disadvantaged people who have been in local authority and foster care as minors for at least one year (with or without family ties) upon reaching independence in the Nene Valley being the county of Northamptonshire, The Unitary Authority of Peterborough and such parts of Cambridgeshire as contains the Nene Valley to help them develop their skills, capacities and capabilities while engaged in education, employment and training, so as to enable them to participate in society as independent, mature and responsible adults by such charitable means as the trustees shall determine.
## **Achievements and Performance**
The Projects in both areas were still battling the effects of Covid and encouraging the young people to get their vaccinations. The projects were halfway through their year at the beginning of November as they run from April to April and the numbers in both areas have remained the same – 10 on the Peterborough project and 15 on the Northamptonshire project, although they start with many more and gradually reduce during the year, due either to success in reaching their aims or not being ready to engage.
Year 10 in Peterborough started with 15 referrals. The weekly food parcels delivered to the mentees were funded by the Cambridgeshire Community Foundation Grant and other essential items such as clothes, TV licences were provided by The Grocer’s Trust. The Grants successfully obtained by the Trust have enabled the care of the young people to be expanded and developed in both areas. The Leaving Care Service Monthly Dropin has been attended by our mentees.
Cherry Lester our Peterborough Project manager has attended regular City Council EET Meetings chaired by the Virtual School and from this she has received new referrals.
Year 11 started in April 2022 with 11 referrals. Two young mentees were then receiving Mental Health counselling from Centre 33. Crofts’ Corner continues to be the base of the Trust’s project.
In Northamptonshire Year 13 progressed well. The Elliott Orlick award was given to a Northamptonshire mentee around Christmas 2021. The Wednesday Discovery Days continue to be very popular and enabled support services to visit such as the Careers Service, who delivered advice to groups and individuals and the Fire Service too. The whole of the Leaving Care Team were invited in October 2022 to see the work wedo. The Food Bank has been developed and Scott Bader funding has provided bulk food items. One care leaver who has completed his Frank Bruno course has been very active in organising the food parcels. This is an example of how volunteering can develop their skills and confidence. The garden project behind the Goodwill Solutions Building where Right Resolution is based has also proved very successful.
Year 14 began in April 2022 with 22 referrals and now has a waiting list. Amarjit Pawar, our Project Manager, continues to work with the Hope Enterprise and their Kick Start programmes. She has also obtained low cost bikes from The Umbrella Fair.
Two care leavers from previous project years have returned to help, have attended events at the University and been invited to the Mayor’s Tea – this shows that the Trust’s work extends beyond the normal set hours and time restraints to support young people as a caring parent would.
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## **NENE VALLEY CARE TRUST**
## **TRUSTEES' REPORT (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
Service Six have continued to provide Mental Health counselling through the free Connections provision. A “Looking Good” 8 week course has taught Healthy eating and cooking, so essential to a young person’s progress. Volunteer Charlene has now moved in to replace Kaleigh as a paid Mentor in July 2022. Charlene had previously delivered a 10 week Circus Skills programme, which proved very popular. Two trustees went to the final performance.
Lisa Cherry has now become a Patron of the Trust – she is an international author, trainer and consultant on trauma.
The Fund Raising Group again raised around £7,000 and Minerva Fund Raising raised over £30,000 in grants obtained.
It has in summary been an active and successful year, despite many challenges.
## **Public Benefit**
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Financial review**
## _**Policy on reserves**_
The charity’s Trustees consider that the general unrestricted reserves of £256,320 at 31st October 2022 are sufficient to sustain its operations over the forthcoming year. The Trustees actively monitor the reserves of the charity at regular Trustee meetings and make appropriate arrangements to ensure the charity has adequate resources to continue to operate.
## **Social investment policies**
We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. The Trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievements and performance
The Statement of Trustees Responsibilities was approved by the trustees of the charity on 14 March 2023 and signed on its behalf by:
Mrs P Padley **Trustee** Dated: 14 March 2023
Lady A Arculus **Trustee**
Dated:14 March 2023
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## **NENE VALLEY CARE TRUST**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Statement of Trustees Responsibilities was approved by the trustees of the charity on 14 March 2023 and signed on its behalf by:
Mrs P Padley Trustee Dated: 14 March 2023
Lady A Arculus Trustee Dated:14 March 2023
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**NENE VALLEY CARE TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF NENE VALLEY CARE TRUST**
I report to the Trustees on my examination of the financial statements of Nene Valley Care Trust (the Trust) for the year ended 31 October 2022.
## **Responsibilities and basis of report**
As the Trustees of the Trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the Trust as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
K W Warwick FCA BA(Hons) for and on behalf of
TC Group Brightfield Business Hub Bakewell Road Orton Southgate Peterborough PE2 6XU
Dated: 15 March 2023
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## **NENE VALLEY CARE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
|**Unrestricted**
**funds**
**General**
**Notes**
**£**
**Income from:**
Donatons and legacies
**3**
141,086
Investments
**4**
311
**Total income**
141,397
**Expenditure on:**
Raising funds
**5**
3,679
Charitable actvites
**6**
106,497
**Total resources expended**
110,176
**Net income for the year/**
**Net movement in funds**
31,221
Fund balances at 1 November 2021
225,124
**Fund balances at 31 October 2022**
256,345|**Total**
**2022**
**£**
141,086
311
141,397
3,679
106,497
110,176
31,221
225,124
256,345|Total
2021
**£**
141,500
9|
|---|---|---|
|||141,509|
|||4,952|
|||113,909|
|||118,861|
|||22,648
202,476|
|||225,124|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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## **NENE VALLEY CARE TRUST**
## **BALANCE SHEET**
## _**AS AT 31 OCTOBER 2022**_
|**Notes**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**11**
Net current assets
**Income funds**
Unrestricted funds
The fnancial statements were approved by the Trustees on
Lady A Arculus
**Trustee**|**2022**
**£**
**£**
16,916
241,329
258,245
(1,900)
256,345
256,345
256,345
14 March 2023
Mrs P Padley
**Trustee**|**2021**
**£**
17,040
209,884
226,924
(1,800)|**£**
225,124|
|---|---|---|---|
||||225,124|
||||225,124|
|||||
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_**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **NENE VALLEY CARE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **1 Accounting policies**
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Trust's [governing document], the Charities Act 2011 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) (effective 1 January 2019)". The Trust is a Public Benefit Entity as defined by FRS 102.
The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
## **1.4 Income**
Income is recognised when the Trust 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.
Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, 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 Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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## **NENE VALLEY CARE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.5 Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **1.6 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 current liabilities.
## **1.7 Financial instruments**
The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party 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 at transaction price including transaction costs and 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. Financial assets classified as receivable within one year are not amortised.
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**NENE VALLEY CARE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market 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 price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.
## **1.8 Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **2 Critical accounting estimates and judgements**
In the application of the Trust’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 periods.
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## **NENE VALLEY CARE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **3 Donations and legacies**
|**Urestricted**
**funds**
**General**
**£**
Donatons and gifs
124,170
Legacies receivable
16,916
141,086
**Investments**
**Unrestricted**
**Funds**
**General**
Interest receivable and similar income:
**£**
Interest receivable
311
**Raising funds**
**Unrestricted**
**funds**
**General**
**£**
Fundraising and publicity
Seeking donatons, grants and legacies
3,679
3,679|**Total**
**2022**
**£**
124,170
16,916
141,086
**Total**
**2022**
**£**
311
**Total**
**2022**
**£**
3,679
3,679|Total
2021
£
124,460
17,040|
|---|---|---|
|||141,500|
|||Total
2021
£
9|
|||Total
2021
£
4,952|
|||4,952|
## **4 Investments**
## **5 Raising funds**
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## **NENE VALLEY CARE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **6 Charitable activities**
|**Unrestricted**
**Funds**
**General**
**£**
Brighter Futures Mentoring Scheme
104,049
Independent examinaton costs (Governance cost)
2,314
Bank Charges
134
106,497
106,497|**Total**
**2022**
**£**
104,049
2,314
134
106,497
106,497|**Total**
**2021**
**£**
112,803
1,106
-|
|---|---|---|
|||113,909|
|||113,909|
## **7 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustee have received any reimbursed expenses or any other benefits from the charity during the year.
## **8 Staff numbers**
At no time during the current or prior year were any full or part-time staff employed by the charity.
## **9 Taxation**
No provision for taxation has been made in these accounts as the entity is a registered charity and all surplus funds are applied for charitable purposes.
## **10 Debtors**
|**Amounts falling due within one year:**
Accrued income
**11**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2022**
**£**
16,916
**2022**
**£**
1,900|**2021**
**£**
17,040|
|---|---|---|
|||**2021**
**£**
1,800|
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## **NENE VALLEY CARE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_
## **12 Analysis of net assets between funds**
|**Analysis of net assets between funds**|||
|---|---|---|
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Fund balances at 31 October 2022 are represented by:|||
|Current assets/(liabilites)|256,345|225,124|
||256,345|225,124|
## **13 Unrestricted Funds**
The unrestricted funds represents the free funds of the charity that are not designated for particular purposes.
## **14 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
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