Charity registrdtion number 1135959 Company registration number 02720382 (England and Wales) REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY LEGAL AND ADMINISTRATIVE INFORMATION Thistees Mr WJ Tovey Mr M Cav8n8y Mr JM Anthony Mrs M Whitehead Mr NC Homsby Mr M Hodgson Charity number 1135959 Company number 02720382 Reglstered ofFJ¢e Pala￿ Hub 28-29 Esplanadé Redcar North Yorkshire TS10 3AE Independent examiner Davies Tracey Swan House Westpoint Road Teesdale Busines5 Park Stockton on Tees TS17 6BP Bankers Virgin Money 7 Linthorpe Road Middlesbrough TS1 1RF REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY CONTENTS Page Trustees, report Indepèndent examinaffs report Statement of financial activities Balan￿ sheet statement of cash flows Notes to Ihe financial statements 8-19 REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Th8 trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordanrR with the a¢￿UntIng policies sèt out in note 1 to the financial ststements and comply with the charitys Memorandum and Artides of Association. the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicabte in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019). Objectlves and activities The principal object of the charltable company during the year under review was that of the provision of ¢haritabla aGtivities for Ihe benefit of the community in the Borough of Redcar and Cleveland. Public benefft In shaping our objectives for the year and planning our activities. the trustees have considered the Chaiity Commission's guidan￿ on public benefiL Volunteev The charity is very involved in the communty and relies on voluntary halp, and V￿ wish to thank our friends for their loyal support and servi￿. Achievements and perf0m￿nCe This period has been one of renewal within the charity. following from on from some of the most d￿llenging years in our recent history. In October 2023 the trustees confimied our acting CEO. Peter Neal. as CEO drawing a line under the instability of the pre￿dIng years and confimiing the board's confidence in our new govemanca arrangements. induding a ￿MprehenSive scheme of delegation from the board to the CEO. The year continued to include significant staffing changes. with our long-standing and highty regarded project manager. Dean Coales. leaving us to join the Department of Work and Pensions. Karf Flannagan took over his work on Whee15 2 WorK becoming the programme manager and Louise Adamson conduded Ihe successful delivery of the TeeS¥￿rf(S project in partnership Wkth Durham New College. Delivery of the Vvheels 2 Work programme was set to end in March 2024. however. the Cor￿ultation programme for a new scheme was delayed by purdah for the pending mayoral election and the scheme was extended until August 2024. Thts was funded through underspends to the project identified by the team as part of the ongoing work around automation and cost reduction. Delivery of our flagship Building our Futures programme in partnership with Redcar and Cleveland Borough Council and funded by Dogger Bank Wind Farm went from strength to strength. with over 30 sCh￿IS engaged. 3930 pupils reached. This has been achieved by no small means by our Primary Schools Careers Co-ordinator. Ja¢quline Hutchinson, who has built a neiwork of 65 employers to support the delivery. Through a collaboration led by the charity Humankind. we were part of a SU￿sSful bld for funding to the Tees Valley Move Forward programme as part of the Shared Prosperity Fund. This successful bid vtss used as a basis to apply for additional support from the National Lottery Communty Fund led by Cittiens Advi￿ Darlington. Redcar and Cleveland which allowed us to fvlly fund a new volunteerÈng post from November 2023. We deepened our relationship with Teesside Universlty. contlnulng our successful research programm8 Staffed through their Advanced Practice Masters Intemships. And at Ihe time of wrfting, we are engaged in a range of research projects with the universty and a wide range of parlners includlng the local authority. Universty College London. The Young Foundation and the Institute of Community Studies. REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In January 2024 successfully t6ndered to deliver the Health Detemiinates Research Collaboration SoLrth Te8S Community-based Research Programme. which will be delivered over the coutse of the next fiva years In partnership with both local authorities and Teessida UnlveT5ity. This aligns to a long-term repositioning of the focus of the charity towards research and a sector driven by evidencepbased impacL In this bid. perhaps for the firsl time. we acknowledged the need to not just recrutt, but to develop new talent from within. so we crafted the role this funding will create to allow it to grow with our desired candidate who will first cornplete an apprenticeship before moving into a degree apprenticeship over thè coursa of the lIf￿m8 of th8 project growing alongside the community-based researchers w8'116mpower. By recognising the skills within our team, by nurturing their growih. by ￿lebrating their athievements and 5UPPOrting them through their failures. V￿ are collectively changing the culture of the charity for the better. By re￿gnisIng where Nve have gone wrong in the pasc by acknowledging i( we become accountable and through that we are confident we are building a strong base for the tharivs fLrture developmènt. Of our 12 staff. all live in the borough. the majority being bom and brought up here. The median age is trending downwards reaching 38 this y8ar. as we offer rnore opportunities to young residents. and we have three staff t￿rrentlY working on their apprenticeships. Our deployment of workpla￿ Adjustrnerrt Plans across our staffing team this year has strengthened our team and shown us how varied our expertences arKI needs are. Throughout the past year. the trustees have remained committed to and the staff have continued to support and speak to the stories of the tharities. groups and volunteers that make up the and varied landsrApe of the sector across Redcar and Cleveland. This Work has induded. but has not been limited to. Supporling groups seeking volunteers Referring residents to voluntary organtsations Worked with VONNE in the delivery of the LARCH programme Provided support and mentoring to volunteers in leadership roles Promoted awareness of and best practice in approaches to safeguarding Worked in partnership with the sector to support the development of bids Supporting groups to d8velop and strengthen their governance structures Liaised with Public Sector Organisations on behalf of individuals and groups Programme We continue to Work closely with Tees Valley Rural Adion in the rural parts of East Cleveland. with Middlesbrough Voluntary Development Agency across the South Tees and with the Tees Valley Infrastructure Partnership across the Tees Valley to ensure the needs of those most MargIn￿l￿d across are provided with an assartive voice that will championing their needs. Financial review Total income during the year redU￿d to £606,484 and the charity incurred net expenditure during the year of £47.071. All funds and reSoUr￿S allocated to RCVDA. have been used for the sole purpose of the organisation in- line with the Objectives as set out in th8 Charities Memorandum of Articles. The movemerrts of the funds are described in the Statemènts of financlal activities, which highlight SP8nd that is restricted and unrestricted. total funds carried foDNard are £137,215. Reserves policy The Executive Committee of Redcar and Cleveland Voluntary Development Agency are working towards the policy of having sufficient reserves to be able to cover six months, operational costs. At 31 March 2024 the charitys free reserves amounted to £97.295 equivalent to approximately 8 weeks, operational costs. Plans for future periods The trustees remain committed to support the CEO and staff so that they can continue trj move the charity forward. StruGturei govgmanco and managomont Redcar and Cleveland Development Agency (RCVDA) was establlshed under a Memorandum of Assoclatlon which estsblished the objects and powers of the charitsble company and is governed by the articles of association. RCVDA is also a registered Charity In England 8nd Wales. REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Governing Body The charitable company has an Executive Committee in accordan￿ with its Articles of Association. vtho are raquired to servè as Mam￿rS of thé charÉtable company, The executive committee is made up of Trustees who are elected by the members. Each Trustee Is requlred to meét spactficatlons conceming èligibility, personal cornpeten￿. specialist skills and local availability. The trustees. who are also the directors for the purpose of company law, and who s8Nad durlng th8 year and up to the date of signature of the financaal statements were: Mr WJ Tovey Mr M Caveney MrJMAnthony Mrs M Whitehead Mr NC Hornsby Mrss VL Putson Mr M Hodgson Mrs ML Mitchell (Resigned 30 August 2023) (Resigned 10 November 2023) Organlsatlonal structure and Ilablllty of executives The charitable company has an Executive Committee in aIxordan￿ with ts Articles of Association. The executives of the charitable company during the year have guaranteed the liabilty of the charitable company up to the maximum of £1 each. Trustee induction and training New tnjstees are indurted into the working environment of the charity. and also of the company a5 a registered charity. induding trustees, policy and procedures. Risk management The Executive Committee has from time to time conducted its own review of the major strategic. business and operational risk to which the charitable rx)mpany is exposed. The Executive Committee confimis that the systems have been established to monitor and control these risks to mÉtigate any impact that they may have on the charitable L¥)mpany. This report has been prepared in accordance with the special provisions of Part 15 of th8 Compani8sAct 2006 r8laiing to small companies. The trustees, report was approved by the Board of TnJste&s and signed on its behalf by: Mr WJ Tovey'"'"___"'_.__ Trustee REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY I report to the trustees on my examination of th8 financlal statements of Redcar and Cleveland Voluntary DevelopmentAgency (the charlty) for the year ended 31 March 2024. Rèsponslbllltles and basls of report As the trustees of the charity (and also its directors for the purposes of Company law) you are responsible for the preparation of the financial statements in ac¢ordan¢e with the requirements of the Companies Act 2006 (the 2006 Having satisfied myselF that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs statement Since the charivs gross income ex￿eded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I conffim that l am qualified to undertake the examination because l am a member of ICAEW. which is one of the listed bodies. I have completed my examination. I confinn that no matters have ￿rne to my attention in connection with the examination giving rne cause to believe that in any materÈal respect accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act: or the financial statements do not accord with those records" or the financial stataments do not compty with the accounting requirements of section 396 of the 2006 Act other than any requirement that the ac￿Unts give a true and fair view which is not a matter considered as part of an independent examination. or the financial statements have not been prepared in accordance with the methods and principles of the statement of Recommended Practice for a￿oUntIng and reporting by charities applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard appliLxble in the UK and Republic of Ireland (FRS 102). I have no cOn￿mS 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. Craig MeBride FCA Davies Tracey Chartered Accountants and Business Athiisars Swan House Westpoint Road T88sdale Business Park Stoclrton on Tees TS17 6BP Dat8d: .... REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Rastrlcted funds funds 2024 2024 Total Unrastrlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Incon￿ from: Charitable activiti Contracts fo operatlonal prograrnmes 101,893 504.591 606.484 207.003 418.840 625.843 Total income 101.893 504.591 606.484 207.003 418.840 625.843 Expenditure on: Charitable activities Contracts for operational programmes 239.453 413.102 652.555 211.120 490.655 701.T15 Total expenditure 239.453 413.102 652.555 211.120 490,655 701.775 Net in¢omel(expenditure) {137.560) 91,489 {46,071) (4,117) (71,815} (75,932) Transfers between fvnds 175.215 (175.215) 42.495 (42.495) Net movement In funds 37.655 (83.726) (46.071) 38.378 (114.310) (75.932) Reconciliation of funds: Fund balances at 1 April 2023 9.570 173.716 183,286 (28.808) 288.026 259.218 Fund balances at 31 March 2024 47.225 89,990 137,215 9,570 173.716 183,286 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activitias. REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY BALANCE SHEEr ASAT31 MARCH 2024 2024 2023 Fixed assets Tangible assets 58,213 187,556 Curront assets Debtors Cash at bank and in hand 101,566 135.949 84.785 230,740 237.515 315.525 Crodltors: amounts falllng due within one year 11 (93.698) (199,425) Net current assets 143,817 116.100 Total assets less current liabilities 202.030 303.656 Credltors: amounts falling due after more than one year 12 {64.815) (120,370) 137.215 183.286 The funds of the charlty Restricted income funds Unrestricted funds 15 16 89.990 47.225 173.716 9.570 137.215 183,286 The company is entitled to Ihe exemption from the audtt requirement contained in section 477 of the Companies Act 2006, for the year end8d 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of th8 Compani8s Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. Thes8 Itnandal statem8nts hav8 b88n pr8par8d In accordan¢8 vAth th8 provlslons appll¢abl8 to ¢ompanles subject to the small companies regime. The financial statejnentswerè app d by the trustees on .. iy Mrw Trustse Company registration number 02720382 (England and Wales) REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from oparating actlvitias Cash (absorbad byygenerated from operatlons 21 (39,236) 182,292 Investing activities Purchase of tangible fixed assets (85,120) Nat cash used In Investlng acthiltles (85,120) Financing activitiés Repayment of bank loans (55.555) {55,556) Net cash used in financlng activities (55.555) (55.556) Net (decrease)fincrease in cash and cash equivalents (94.791) 41,616 Cash and cash equivalents at beginning of year 230,740 189.124 Cash and cash equlvalents at end of year 135.949 230.740 REDCAR AND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 A¢¢ountlng pollclas Charlty Inforniation Redcar and Cleveland Voluntary Development Agency is a private company limited by guarantee incorporated In England and Wales. The registered office is Pala￿ Hub. 28-29 Esplanade. Red￿r. North Yorkshire, TS10 3AE. 1.1 Accounting conventlon The financial statements have been prepared in accordan￿ with tha charity's goveming docJJmenL the Companies Act 2006. FRS 102 °The Financial Reporting Standard applicable in the UK and Republic of Ireland" fFRS 102") and the Charities SORP "Accounting and Reporting by Charities: Ststement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is 8 Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 12 Going concom At the time of approving the financial statements. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existen￿ for the foreseeable future. Thus the trustees continue to adopt the going concem 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 fijrtherance of their tharitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted fvnds are set out in the notes to the financial statements. Endowm8nt funds are subjed to specific conditions by donors that the capital must be maintained by the tharity. 1.4 Income Income is recognised when the charity is legally entitled to it after any perfomiance condilions 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 charity has been notified of the donation. unless perforrnance conditions require deferral of the amount. Income tax recoverable In relation to donations ￿￿1Ved under GiftAid or deeds of covenant is recognised at th8 tim8 of th8 donation. Legacies are recognlsed on recelpt or othe￿IS8 If tha charfty has baen notified of an Imp8ndlng dlstrlbution, the amount Is known. and re￿Ipt Is expected. If the amount Is not known. the legacy Is treated as a contingent asset. Income from govemment and other grants are recognised at fair value when the charity has entitlement after any perfomiance conditions have been met. it is probable that the income will be re￿iVed and the amount an be measured reliably. If entitlement is not rnet then these amounts are deferred. REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Contlnued) 1.5 Ex￿ndItUre Expenditure is recognised On￿ there is a legal or constructive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic b8n8ffts will ba rèquirèd in settlamant, and tha amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activty are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a singl8 activty are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those actiVSties on a basis ct)nsistent with the use of resources. Central stsff costs are allO￿ted on the basis of time spent, and depreciation charges are allocated on the porlion of the assevs use. Irrecoverable VAT is charged as a cost in the Statement of Financial Activities. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impairment losses. Depreciation is re￿gnised so as to write off the cost or valuation of assets less their residual values over their usefijl lives on the following bases: Scooters and ebikes Computer equipment Motor vehides 33% on cost and 25% on cost 25% on cost 25% on cost The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial adivities. 1.7 Financlal Instruments The charity has elected to apply the pmisions of Section 11 'Basic Financial InstNments' and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are racognlsed in the charitys balance sheet when the chaThLy becomes paty to the onlraciual provisions of the instrument. Financial assets and liabilities are offseL with the net amounts presented in the financial ststements. when there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultsneously. Basic financial assets Basic financial assets. which indude debtors and cash and bank balances, ar8 Inltlally measured at transaction price including transaclion costs and are subsequently carried at amortiS8d cost using the eff8CtiV8 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 recelvable wEthln one year are not amortised. REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Continued) Impalm￿t of flnanclal assets Flnancial assets. other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence tha( as a result of one or more events that occurred after the initial recognition of the financial asseL the estimated future cash flows have been affected. If an ass8t is impaired, the impalment loss Is the differenc8 betr￿een the carying amount and the present value of the estimated cash )lows discounted at the asset's origlnal effectlve interest rate. The impaimient loss is recognised in net incomel(expenditure) for the year. If there is a decrease in the impairment loss arising from an event occurring after the impaimient was recognised, the impaimient is reversed. The reversal is such that the current carrying amount does not exceed what the Ca￿yIng amount V￿uld have been. had the impaimient not previously been recognised. The impaitrnent reversal is recognised in net incomel(expenditure) for the year. Derecognition of financial assets Finanual assets are derecognised only when Ihe ￿ntraCtual rights to the cash flow5 from Ihe asset expire or are settled. or when the charity transfers the financial asset and substsntially all the risks and rewards of ownership to anolher entity. or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another paty thal is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities Basic finanaal liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement consiitLrtes a financing transaction. where the debt instrumerrt is measured at the present value of the future payments disrx)unted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently caThied at amorttsed cost. using the effective interest rate method. Trade creditors are obligations to pay for gwds or services that have been acquired in the ordinary course of operations frorn suppliers. Amounts payable are dassffied as current liabilities rf payment is due within one year or less. If no( they are presented as non-current liabilities. Trade creditors are recognised initially at transaction Pri￿ and subsequently measured at amortised cost using the effective interest method. Derecognltlon of flnancial liabilities Finanaal liabiliti8s are derecognised when the charitys contractual obligations expire or are discharged or cancelled. 1.8 Taxation The charity Is exempt from corporation tax on its charitable activities. 1.9 Employee beneffts The cost of any unused holiday entitlement Is recognlsed In the period in which the employee's Se￿ice9 are received. Ternilnation ban8ffts are recognised immediately as an expense when the charity is demonstrably commltt8d to terminate the employment of an employ88 or to provide temiination beneffts. 1.10 Retlroment benefits Payments to d8flned contrlbution retirement benefft schemes are charged as an expense as they fall due. 10- REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charftable actlvlties Contracts for Contracts for operational operatlonal programmes programmes 2024 2023 Contracts for operational programm8S 606.484 625.843 Analysis by fvnd Unrestricted funds Restiicted funds 101.893 504.591 207.003 418.840 606,484 625.843 Tees Ilalley Combined Authority- Wheels 2 Work Middlesbrough Voluntary DevelopmentAgency- Changing Futures VONNE - Social Prescribing New College Durham - Teesworks Dogger Bank Wind FarnF Building Our Futures Woodsmith Foundation Humankind - Tees Valley: Move Forwards Other 299.303 97.847 13.418 80,840 250.624 123.677 100.000 4.OlXI 25.166 122,376 3.500 101.892 606.484 625.843 11 REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities Contracts for Contracts for operational operational programmes programmes 2024 2023 Staff costs Depreciation and impairnent Other office costs 291.761 129.343 226.951 347.285 129.203 221,002 648,055 697,490 Share of governan￿ costs (see note 4) 4.500 4.285 652,555 701,775 Analysis by fund Unrestrtcted fvnds Restricted funds 239.453 413,102 211.120 490,655 652.555 701.775 Support costs allo&ited to actlvltles 2024 2023 Governance costs 4.500 4.285 Anaty5ed between" Contracts for operational programm8S 4.500 4.285 Net movoment in funds 2024 2023 Tho net movement in funds Is stated aft8r chargingl(creditlng): Fees payab18 to the charitys independent 8xaminer. - for the independerrt examination of the charivs financial statements - for other financial services Depreciation of owned tanglb18 fixed assets 1,130 3,370 129,343 1,075 3.210 129,203 Thistees None of the trustees (or any persons conn8cted with them) received any remuneration or benefits from the charity during the year. 12- REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Employees The averagè monthly numbar of employees during the year was: 2024 Number 2023 Number 12 12 Employment costs 2024 2023 Wages and salaries Soctal security costs Other pension costs 260.137 21.465 10.159 304.810 29.315 13.160 291.761 347.285 There were no employees whose annual remuneration was more than £60.000. Tangible fixed assets Scooters and ebikes omputsr equlpment Motor vehlcks Total Cost At 1 April 2023 349.231 9.268 42.950 401.449 At 31 MarGh 2024 349.231 9.268 42.950 401.449 Depreciation and impairniènt At 1 April 2023 Depreciation tharged in th8 year 189.348 116.412 5.754 2.193 18.791 10,738 213.893 129,343 At 31 March 2024 305.760 7,947 29.529 343.236 Carrying amount At 31 March 2024 43.471 1.321 13,421 58,213 At 31 March 2023 159.882 3.515 24.159 187.556 Debtor8 2024 2023 Amounts falllng due within one year: Trade debtors other debtors Prepayments and accrued income 32.586 49.011 35,774 68,980 101,566 84,785 13- REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Loans and overdrafts 2024 2023 Bank108ns 120,371 175,926 Payable within one year Payable after on8 year 55,556 64.815 55,556 120.370 The long-temi loans are secured by fLxed and floating charges over the CoMpan￿S assels. 11 Creditors.. amounts falling duo within ono year 2024 2023 Notes Bank loans Other taxation and social security Deferred income Trade creditors Other creditors Accruals 10 55,556 20.435 55,556 6.765 24,602 28.704 81.593 2,205 13 13.276 2.116 2,315 93.698 199.425 12 Creditors: amounts falling due after more than one year 2024 2023 Bank loans 10 64,815 120.370 13 Deferred Incomo 2024 2023 Other deferred income 24.602 Deferred income is included in the financial statements as follows: 2024 2023 Deferred income is included within: Current liabilities 24,602 14- REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Deferred Income (Contlnued) Movements In the year. Deferred income at 1 April 2023 Released from previous periods 24,602 (24.602) 129,605 (105.003) Deferred income at 31 March 2024 24.602 Deferred income refiects funding received in respect of future accounting periods. 14 Retirement benorrt schemos 2024 2023 Defined contrlbution schemes Charge to profit or loss in respect of defined contribution schemes 10.159 13.160 The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from Ihose of the tharity in an independently administered fund. 15- ¢0￿00(0£000o, ¢Dr r¢>oifJThipCtO O ¢£1 O i ooa)a)oOOr￿ol I￿0￿(￿<￿￿00¢D￿ UJ0Ln(yrOOff)¢YJ￿ O i Iri In 10 m£c o c U)iU LL JW REDCAR AND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 General funds 9.570 101.893 (239,453) 175.215 47.225 Prevlous year: At 1 April 2022 Incoming resources Resources expended Transfers At 31 March 2023 General funds (28.808) 207.003 (211.120) 42.495 9.570 17 Anatysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsl(liabilities) Long tenn liabilities 14,745 97,295 (64.815) 43,468 46,522 58.213 143,817 {64,815) 47.225 89.990 137.215 Unrestrlcted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Current assetsl(liabilities) Long tenn Ilabllitl8s 27.674 102.266 {120.370) 159.882 13,834 187.556 116.100 (120.370) 9.570 173.716 183,286 18 Flnanclal commltments. guarantèes and contingent liabilities Grants re￿1vable and similar funding may be repayable If certaln associated conditions are no( or have not been, m8t. 18- REDCARAND CLEVELAND VOLUNTARY DEVELOPMENT AGENCY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Oparating lease commltments At the r8POrting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable op8rating leases, whlch fall dué as follows". 2024 2023 Within one year 1.332 2.550 20 Related party transactions There have been no disclosable related party transactions during the year. 21 Cash generated from operations 2024 2023 Deficit for the year (46,071) (75.932) Adjuslmerrts for: Depreciation and impaimient of tangible fixed assets 129,343 129.203 Movements in working capital: (Increaseydecrease in debtors (Decrease) in Lyeditors (Decrease) in deferred income (16,781 } (81,125) (24,602} 255,807 (21.783) (105,003) Cash (absorbed by)Igenerated from operallons (39.236) 182.292 22 Analysls of changes In net funds At 1 Aprfl 2023 Cash flowsAt 31 Mar¢h 2024 Cash at bank and in hand 230.740 (94,791) 135.949 Loans falling due within one yaar Loans falling due after more Ihan one year {55.556) (120.370) {55.556) (64,815) 55.555 54.814 (39.236) 15,578 19-