**Registered Charity Number: 1141274 Company Number: 07517828**
**Voluntary Action South Leicestershire (a charitable company limited by guarantee)**
**ANNUAL REPORT AND ACCOUNTS**
**FOR THE YEAR ENDED 31 March 2025**
## **Voluntary Action South Leicestershire**
## **REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025**
## **CONTENTS**
||Page|
|---|---|
|Charity Information|1|
|Report of the Trustees|2|
|Independent Auditor's Report|13|
|Statement of Financial Activities||
|(including Income & Expenditure Account)|17|
|Balance Sheet|18|
|Statement of Cash Flows|19|
|Notes to the Financial Statements|20|
**Voluntary Action South Leicestershire Company Information For the year ended 31 March 2025**
## **Trustees:**
Linda Jones (Chair)
Richard Clarke Kate Godber Angela Holdsworth Jonathan Jackson Suzanne Packer Lauren Woolley
## **Charity Manager & Company Secretary**
Julia Synnott
## **Company Number**
07517828 (England and Wales)
## **Charity Number**
1141274
## **Registered Office**
1st Floor Torch House Torch Way Northampton Road Market Harborough Leicestershire LE16 9HL
## **Auditors:**
Edward Thomas Peirson & Sons Chartered Accountants 21 The Point Rockingham Road Market Harborough Leicestershire LE16 7NU
## **Bankers:**
CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
## **HR Advisers:**
Peninsula Business Services Ltd Riverside New Bailey Street Manchester M3 5PB
Page 1
**VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
The Trustees present their Report, which includes the Directors’ Report required by company law, together with the Financial Statements of the charitable company ("the charity") for the year ended 31 March 2025
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Charity Name**
The charity’s formal name is Voluntary Action South Leicestershire but it is also known, and frequently referred to, as VASL.
## **Statutory information**
Information regarding the charitable company’s registration numbers, registered office, current trustees, senior manager and other advisers is set out at Page 1 to the financial statements.
## **Directors/Trustees and Management**
The directors of the charity are also its trustees for the purpose of charity law and throughout this report and financial statements are referred to collectively as the Trustees or the Board. Those who have served in this capacity during the period covered by the financial statements are as follows: –
Chair: Linda Jones CBE Treasurer: Angela Holdsworth Appointed 13 May 2024 Brian Shayanewako Resigned 25 September 2024 Other trustees: Richard Clarke Hazel Cook Resigned 22 April 2024 Kate Godber Howard Grant Resigned 31 December 2024 Suzanne Packer Lauren Woolley
Following the end of the financial year, on 1 April 2025, Jonathan Jackson was appointed as an additional director/trustee.
The Trustees are also the members of the company.
Company Secretary& Charity Manager: Julia Synnott
## **OBJECTIVES AND ACTIVITIES**
## **Objects**
The charity’s objects, as set out in the Articles of Association of the charitable company, are:
- to promote any charitable purposes for the benefit of the community, principally but not exclusively in the local government area of Harborough and wider Leicestershire (herein called the 'area of benefit') and, in particular, to develop services which enhance the well-being of people who are in a situation of need, hardship or distress, or who are aged or sick. Such support services include, but are not limited to, support for carers of all ages, social transport, and mental health support; and
Page 2
**VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **OBJECTIVES AND ACTIVITIES (continued)**
- to provide high quality services in response to identified need, actively involving volunteers and working in partnership with third sector, statutory and other relevant bodies in the achievement of the above purposes within the area of benefit.
## **Aims and strategies**
In satisfaction of these objects our aims are to:
- develop services which enhance the wellbeing of people who are in particular need of support;
- • use and value the important contribution of volunteers in all our services;
- be proactive and reactive to local needs;
- encourage and promote social inclusion; and
- continually learn, improve and innovate as an organisation.
Our mission is to improve and enrich the lives of people in our community by providing services and volunteer facilitated activities with strategic objectives of:
- meeting community needs;
- ensuring sustainable growth; and
- achieving organisational excellence
Our vision is to cement our position as the lead 3rd sector organisation in Harborough District and a major provider of services across the county.
Our success is reliant on all trustees, staff and volunteers applying our key values of:
- Respect – treating everyone with dignity and fairness
- Equality of opportunity – recognising and welcoming diversity
- Openness – in the way we work
- Responsiveness – to the needs of the community
- Collaboration – working with others to achieve joint aims
## **Activities and Projects**
The principal projects and activities with which we have been involved in the year are detailed below.
## **1. Support for Carers Leicestershire**
Support for Carers continues to support Carers across Leicestershire is completing year 3 of funding with a plus 1 from November 2025. The Hospital Discharge Scheme returned in February 2025 and we continue to work with Leicestershire County Council on upcoming projects. We are in regular contact and have a strong working relationship. The team continue to develop new ways to support carers and assist with Assessments and help with Government support.
Our Energy Advice Service sits within the Team, and ends on the 30[th] September 2025. There is no further funding available to continue the project.
## **2. Young Carers**
The Young Carers project was transferred to another local charity, Harborough Young People and Childrens Charity (HCYC) in July 2022. However, VASL remains a partner, providing volunteer drivers and escorts for the young carers to attend fortnightly groups.
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**VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **OBJECTIVES AND ACTIVITIES (continued)**
## **Activities and Projects (continued)**
## **3. Community Champions**
Community Champions is a hybrid project and offers our clients and volunteers a real range of life and online connection experiences.
Befriending through home visits, telephone calls and letter writing have continued. There have been regular learning events including a volunteer-led session on bladder health. Other topics covered include 5 Ways to Well-being, Bereavement, Safeguarding, and Self Care. Two “Next Steps” courses have taken place, (volunteer-led), resulting in clients going to more community events and making new connections. Two clients also launched a card playing group.
We have enjoyed bringing volunteers together again for face-to-face connection through VASL celebrations and project socials, and there have been monthly Community Gatherings for clients.
Digital support sessions have been taking place monthly at Market Harborough and Lutterworth libraries and monthly mini zooms led by volunteers are enjoyed by clients. This project has grown and we are now working with clients and local GP Surgeries to enable clients to use the NHS App to order repeat prescriptions.
## **4. VASL Transport**
Our Transport project continues to grow and we have over 45 active drivers who are able to take clients without access to a car to and from vital Hospital Appointments. The service helps with isolation and clients are able to relax knowing they have a trained volunteer waiting to take them home. There is a huge need for this service and we are grateful for the continued support from Leicestershire County Council. Day trips are also organised throughout the year using the Community Bus service and are always sold out. The project is now cashless and clients are able to pay for journeys online or over the phone.
## **5. Wellbeing Befriending**
Liz McMillan is the project Manager. We have seen an increase in referrals from external sources and also from within our projects at VASL. Volunteers continue to support a variety of clients with a wide range of needs with weekly telephone befriending calls. Group meetings have also increased and are very popular offering Mental Health support and mindful activities.
Volunteer led Wellness Cafes have been, and continue to be, a huge success. This project is funded until the end of December 2025 and applications for further funding will be made.
## **6. Volunteering**
As an organisation, we continue to provide quality volunteering opportunities, with excellent training and support. Volunteering in the community continues to be vital to the projects and services we provide.
VASL volunteering opportunities are publicised and promoted on a regular basis and we hold the Investing in Volunteers Accreditation, which is a recognised quality mark for volunteer involving organisations.
Our Volunteers are committed to giving their time to VASL and we continue to support them. We have had Christmas and Summer Volunteer recognition events for all to meet and to give the Charity Manager an opportunity to thank them for the work they do.
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**VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **OBJECTIVES AND ACTIVITIES (continued)**
## **Activities and Projects (continued)**
## **7. Representation and Engagement**
VASL continues to sit on key forums and engagement groups throughout Harborough District, and wider Leicestershire. We are regularly consulted by Health and Social Care to help identify and shape services that support our client groups and the wider community. We continue to have a close working relationship with Harborough District Council, and Leicestershire County Council.
We have developed, and strengthened, our relationships with Health through the newly formed Primary Care Networks.
The Charity Manager is on a Steering Group for a VCSE Collaboration. We invite key organisations to events throughout the year with guest speakers and workshops to develop strength in Volunteer led organisations. This Alliance has been able to contact key funders and discuss the continued impact we have on the community.
NHS England has developed an ICB Board to work directly with the Voluntary Sector to support key needs in the community, and VASL’s Charity Manager is on the steering group.
## **Public Benefit**
The Trustees are pleased to confirm that they have referred, and continue to refer, to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.
## **ACHIEVEMENTS AND PERFORMANCE**
At the beginning of the year the Trustees set the following strategic priorities for 2024/25:
## **Organisational**
- To undertake a review of VASL’s budget to ensure it reflects the income and needs of the organisation to most effectively deliver our services.
- To keep under review VASL’s office requirements to ensure the effective delivery of services, provide value for money and stay within budget. A new premise has been secured and following renovations we are hoping to relocate during November 2025.
## **Project based**
- To ensure the requirements of the new contract for Support for Carers is achieved in the most effective and cost-effective ways.
- To further develop the Wellbeing Befriending Service, subject to a successful funding application.
- To continue to identify gaps in provision and opportunities to develop new services, or within existing ones, to meet them. Consider how our projects can help to reduce the impact on our clients of the cost of living crisis. Implement and review the Dementia Guardians Project.
- To recruit additional volunteers across all of the projects, providing good induction, training and support aimed at providing quality services and retention of volunteers.
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**VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **ACHIEVEMENTS AND PERFORMANCE (continued)**
VASL continued to thrive throughout 2024/25. All projects have successfully continued to grow, support Volunteers and Clients and meet funding targets.
A new Strategic Plan for 2025-2028 was developed and approved.
We have continued to raise our presence within the local community and have had fund raising events with local businesses.
We have a good relationship with Market Harborough and The Bowden’s Charity and meet regularly.
VASL continues to have the Investing in Volunteers and Trusted Charity Mark level 2.
VASL won County Charity of the Year at the VAL Awards in October 2024
The Board of Trustees, led by Linda Jones, continued to oversee and support the everchanging developments of VASL. During the year we have recruited two new Trustees and two have stood down.
VASL is a highly successful, well run and financially secure charity and is in an excellent position to face the necessary changes during the coming year. We have been able to secure a further 3 years funding for the Community Champions project from the National Lottery (75%) and The Market Harborough and The Bowdens Charity (25%).
We are, as ever, most grateful to all of those who have provided funds to support our work throughout 2024/25. The funding that we have received has ranged from individual donations and one-off pots of funding from individuals, community groups and businesses to larger grants from organisations including:
- Leicestershire County Council,
- Harborough District Council,
- Charnwood Borough Council
- Market Harborough and the Bowden’s Charity,
- National Lottery Community Fund,
- Masonic Charitable Trust,
- Leicestershire Partnership NHS Trust.
- The Energy Savings Trust
## **The difference we have made**
The Table below summarises the difference VASL made in our Communities during 2024/25
.
|**Community**|**Total Individuals**|**How Have They Benefited?**|
|---|---|---|
|**Carers across**
**Leicestershire**|4233 individual family carers
supported.|•
Carer helpline (Monday - Friday, 9am –
5pm)
•
Online support through website,
Facebook, Twitter
•
Support group sessions delivered to share
experiences and enjoy social time.
•
County-wide Forum events
•
Newsletters provided information and
contacts
•
Telephone befriending|
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**VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
|**Community**|**Total individuals**|**How Have they Benefited?**|
|---|---|---|
|**Isolated Older**
**People**|164|•
Social support – Community
Champions
•
Befriending, digital & telephone
support, pen pals
•
109 events and gatherings|
|**People needing help**
**with transport**|3,371|•
Passenger journeys|
|**People needing**
**support with their**
**Mental Health**|49|•
Information
•
Advice and Navigation
•
One to One Support
•
Befriending|
|**Volunteers**|7 VASL Trustees
153 VASL Volunteers|•
Supporting all VASL Projects and
governance of the organisation|
|**Community Groups**
**in Harborough**||•
Local Groups encouraged to attend
Community Networking events
•
Ad Hoc support|
|**The Business and**
**Public Sectors**|We worked with many different
organisations including:
•
Leicestershire County
Council
•
Harborough District
Council
•
NHS community mental
health teams
•
Leicestershire PCN’s
•
CCG's
•
LLILT Group
•
Healthwatch
•
Local schools, libraries,
adult learning
•
GP practices across
Leicestershire
•
Primary Care Networks
•
Parish Councils
•
Schools/Education
Establishments|•
Worked in partnership with VASL to
support their customers and share
knowledge and ideas
•
Raised their community profile
•
Engaged with businesses|
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**VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
|**Community**|**Total Individuals**|**How Have They Benefited?**|
|---|---|---|
|**Charities/Third**
**Sector/Grant**
**Makers**|We worked with many different
charities including:
•
Market Harborough Bowdens
Charity
•
Harborough FM
•
LLR Community Foundation
•
Big Lottery
•
Children In Need
•
Age UK
•
LAMP
•
Dementia Harborough
•
Befriending Network
•
Community Transport
Association
•
Alzheimer's Society
•
Sustainable Harborough
•
HCYC
•
The Cube Youth Centre
•
LOROS
•
Voluntary Action
Leicestershire|•
Met their charitable aims by awarding
grants to VASL for project activity
•
Took referrals for services from VASL
staff
•
Attended VASL forums
•
Consulted on project development|
|**The Wider**
**Community**||•
Support for Carers Leicestershire
website provides information and
support
•
VASL website provides information,
support and access to services|
Page 8
**VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **FINANCIAL REVIEW**
## **Financial Performance**
The financial period covered by the accounts and this report was a 12-month period from 1 April 2024 to 31 March 2025. The annual income was £586,776 (2024: £555,636) and the total costs were £606,465 (2024: £595,519). This resulted in a net deficit of £19,689 (2024: Deficit £39,883). There was a £18,163 surplus in unrestricted funds (2024: Surplus £3,670) and a £37,852 deficit in restricted funds (2024: Deficit £43,553).
VASL continues to operate in a period of considerable financial uncertainty in relation to core funding from statutory bodies and project funding from other agencies. In view of this the Trustees considered it prudent to retain a designated financial reserve of £105,504 to cover contingencies (see Policy on reserves below).
## **Policy on cost recovery**
In undertaking a grant funded project, VASL aimed to apply the principles of Full Cost Recovery. That is, it is recognised that each project undertaken by VASL was supported by a central organisation whose costs must be covered by the organisation as a whole. Each project had therefore to contribute its share of the central cost.
Accordingly, except where there was an explicit agreement with the funder on the amount of grant which was to be applied to central costs, an overheads charge was levied in proportion to the staff time devoted to the project. These charges were calculated as part of the annual budgeting process, and were applied in the accounts as inter-fund transfers.
## **Policy on reserves**
VASL’s policy on reserves has been designed to protect it from uncertainties in funding from statutory and grant making bodies, and other financial risks. Its aim is to ensure that there are sufficient funds to meet all its contractual obligations and to continue in operation until there has been time to reorganise to meet the contingency.
The Trustees agreed that:
- a) The VASL Board would continue to designate funds in its accounts to be its adversity and financial reserves.
- b) No expenditure of money from these reserves could be committed for any purpose except by explicit decision of the board. In so deciding, the board would consider whether, when and how the reserve could be replenished.
- c) The core fund operational reserves should be designated for business development costs to cover delivery of the strategic plan.
- d) The financial reserves and business development reserves should be invested in three interest-bearing instant access accounts to a maximum of £85,000 in each (as per previous FSA guidelines re risk).
The VASL board reviewed its financial risks and decided to carry forward a designated adversity reserve of £20,000 and a designated financial reserve of £105,504 comprising:
Three months’ core running costs £50,000 Negative cash flow in run down situation £25,000 Reserve for possible redundancy costs £30,500
Unrestricted reserves which have not been designated amounted to £87,562 at 31 March 2025 and the Board considers that these are at an acceptable level for the day to day operating requirements of the charity. The aggregated reserves of restricted income funds amounted to £102,085, which is in line with the expectation of the Board. This reflects the receipt of grants in advance of incurring the associated expenditure in respect of projects which cover more than one financial year.
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**VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **PLANS FOR FUTURE PERIODS**
A new Strategic Plan for 2025-28 has been developed and approved which will incorporate views and opinions from our clients, volunteers, staff, trustees, funders and strategic partners.
The Strategic Plan acknowledges that we need to continue to support our staff and volunteers and maintain the standards of our current funded projects. We will continue to identify gaps in provision and opportunities to develop new services, or make developments within existing ones, to meet them. We will consider how our projects can help to reduce the impact on our clients of the cost of living crisis.
We will continue to develop new partnerships and are looking to develop further support for those suffering from the effects of Dementia. We want to continue to recruit more Volunteers, provide them with the training and support they need, and retain them to help deliver our quality services. This has been proven with our success in the Investing in Volunteers re-accreditation.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Constitution and Governing Document**
The charity was incorporated on 4 February 2011 as a company limited by guarantee (Company Number 07517828), not having a share capital, and is governed by its Memorandum and Articles of Association of that date, as amended on 18 March 2019. It was registered as a charity by the Charity Commissioners for England and Wales on 8 April 2011 (Registered Number 1141274).
Each of the members has agreed to contribute the sum of £1 in the event of the charity being wound up.
## **Appointment of trustees**
Trustees are nominated from persons who through residence, occupation, employment or otherwise have special knowledge of the area of benefit, or who are otherwise able, by virtue of their personal or professional qualifications, to make a significant contribution to the pursuit of the objects or the management of the charity.
## **Trustee induction and training**
New trustees are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the company. During the briefing they are also given a tour of the charity’s premises and are introduced to the employees and other trustees. All trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
## **Organisational Structure**
The Trustees hold formal meetings every eight weeks and have elected a Chair, Secretary and Treasurer from their number. The Trustees are responsible for setting the strategic direction of the charity and have delegated day to day decisions concerning its operation to Julia Synnott the Charity Manager.
## **Arrangements for setting staff pay**
Staff pay, including that of the senior manager, reflects the level of responsibilities of the posts and is benchmarked with similar sized voluntary and community sector organisations. Cost of living increases take into account inflation and levels awarded for public and voluntary sector organisations. These decisions are taken by the full Board of Trustees on the recommendation of the Board's Human Relations subcommittee.
Page 10
**VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)**
## **Risk management**
The Trustees keep the charity’s activities under regular review in order to identify the opportunities available to the charity and the risks to which it is exposed. Where risks are identified, for example in relation to fraud, systems and procedures are established and implemented to mitigate those risks identified and to minimise their impact should they materialise.
In particular, the Trustees recognise that the charity is a service organisation and that one of the principal risk that it faces, in attempting to fulfil its aims and objects, is that its standard of service falls short of that which might reasonably be expected by users. As a result, we have implemented a quality assurance policy statement based on the Trusted Charity Mark, Level 2 (previously Pqasso). This defines the benchmarks for standards throughout the Voluntary Sector and comprehensive arrangements to monitor progress in implementing and adhering to these standards.
In addition, we are committed to providing training programmes to staff and volunteers to assist them in all areas of activity in which they are likely to become involved in the operation of the charity.
## **FUND-RAISING STANDARDS INFORMATION**
The charity does not carry out significant fundraising activities.
## **TRUSTEES’ RESPONSIBILITIES STATEMENT**
The Trustees (who are also Directors of VASL for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. 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 2019 (FRS 102);
- 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 statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company’s auditor is unaware; and
- • the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
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## **Voluntary Action South Leicestershire**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **PREPARATION OF REPORT**
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
## **ON BEHALF OF THE BOARD**
Linda Jones CBE Chair Dated 29 September 2025
Page 12
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF VOLUNTARY ACTION SOUTH LEICESTERSHIRE**
## **Opinion**
We have audited the financial statements of Voluntary Action South Leicestershire for the year ended 31 March 2025 which comprise the Statement of Financial Activities (including Income and Expenditure Account), the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’’ (United Kingdom Generally Accepted Accounting Practice)
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, 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 relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going 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 directors with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
Page 13
## **INDEPENDENT AUDITOR’S REPORT**
**TO THE MEMBERS OF VOLUNTARY ACTION SOUTH LEICESTERSHIRE (continued)**
## **Other information (continued)**
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 this 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 misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report included within the Report of the Trustees has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures 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
- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemption in preparing the directors’ report and take advantage of the small companies’ exemption from the requirement to prepare a strategic report.
## **Responsibilities of trustees**
As explained more fully in the Trustees’ Responsibilities Statement set out on page 12, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, 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.
Page 14
## **INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF VOLUNTARY ACTION SOUTH LEICESTERSHIRE (continued)**
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance 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 (UK) 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 basis 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:
- the engagement partner ensured that the engagement team collectively had the appropriate experience, competence, capabilities and skills to identify or recognise non-compliance with laws and regulations;
- through discussions with the trustees and other management, and from our commercial knowledge of the charitable company’s multiple activities and objectives, we identified the laws and regulations applicable to the charitable company and focused on specific laws and regulations which we considered may have a direct material effect on the financial statements and operations of the charitable company. These included company law, employment legislation; and
- we remained alert to instances of non-compliance throughout the audit and assessed the extent of compliance through discussions with management and examination of documentation.
We assessed the susceptibility of the company's financial statements to material misstatement and obtained an understanding of how fraud might occur by:
- making enquiries of management as to where they considered there was a susceptibility to fraud and their knowledge of any actual, suspected or alleged fraud; and
- considering the internal controls in place to mitigate the risk of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify unusual or unexpected relationships;
- reviewed the nominal ledger and, specifically, journal entries to identify large or unusual transactions and investigated them; and
- we assessed the extent to which accounting entries relied on a high degree of judgement and/or estimation.
In response to the risk of irregularities and non-compliance with laws and regulations we designed procedures which included:
- agreeing financial statement disclosures to supporting documentation;
- reading minutes of trustees’ meetings, relevant regulators and any of the company's professional advisers;
- performing substantive procedures on material balances and transactions; and
Page 15
## **INDEPENDENT AUDITOR’S REPORT**
**TO THE MEMBERS OF VOLUNTARY ACTION SOUTH LEICESTERSHIRE (continued)**
## **Auditor’s responsibilities for the audit of the financial statements (continued)**
- enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures outlined above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment and/or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charitable company’s 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 members those matters we are required to state to them in an auditor’s 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, or for the opinions we have formed.
Callum Veasey (Senior Statutory Auditor) For and on behalf of: Edward Thomas Peirson & Sons Statutory Auditor Chartered Accountants 21, The Point Rockingham Road Market Harborough Leicestershire LE16 7NU
2025
Page 16
## **Voluntary Action South Leicestershire**
## **STATEMENT OF FINANCIAL ACTIVITIES (Including Income & Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2025**
|**INCOME FROM:**
Donations and legacies
Charitable activities
Investment income - Bank interest receivable
Other
**Total income**
**EXPENDITURE ON:**
Charitable activities
**Total expenditure**
**Net income/(expenditure) for the year**
**Note**
3
4
5
**Net transfers between funds**
**Net movement in funds**
**Reconciliation of funds:**
**Balances brought forward**
**Balances carried forward**
11
11|
51,538
456,792
508,330
9,000
63,459
72,459
5,824
-
5,824
163
-
163
66,525
520,251
586,776
194,585
411,880
606,465
194,585
411,880
606,465
213,066
102,085
315,151
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**2025**
**£**
**£**
**£**
(128,060)
108,371
(19,689)
146,223
(146,223)
-
18,163
(37,852)
(19,689)
194,903
139,937
334,840|_494,722_
_55,846_
_5,068_
_-_
**_Total Funds_**
**_2024_**
**_£_**|
|---|---|---|
|||_555,636_|
|||_595,519_|
|||_595,519_|
|||_(39,883)_
_-_|
|||_(39,883)_
_374,723_|
|||_334,840_|
All activities relate to continuing operations.
The Statement of Financial Activities includes all gains and losses recognised during the year.
The notes on pages 20 to 27 form part of these accounts
Page 17
## **Voluntary Action South Leicestershire (Company No. 07517828)**
## **BALANCE SHEET AS AT 31 MARCH 2025**
|**Note**
9
**Creditors:**
Amounts falling due within one year
10
**Net Current Assets/Net Assets**
11
**Restricted funds**
**Total Funds**
**Current Assets**
Debtors
Cash at bank and in hand
**Funds**
**Unrestricted funds**
General funds
Designated funds|**2025**
**£**
8,626
443,012
451,638
(136,487)
315,151
87,562
125,504
213,066
102,085
315,151|**_2024_**
**_£_**
_26,013_
_352,774_
_378,787_
_(43,947)_|
|---|---|---|
|||_334,840_|
|||_64,903_
_130,000_|
|||_194,903_
_139,937_|
|||_334,840_|
The accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
The accounts were approved by the Board of Trustees on 29 September 2025 and signed on its behalf by:
Linda Jones CBE - Trustee
The notes on pages 20 to 27 form part of these accounts
Page 18
## **Voluntary Action South Leicestershire**
|**STATEMENT OF CASH FLOWS**
**FOR THE YEAR ENDED 31 MARCH 2025**
**Net movement in funds**
Interest shown in investing activities
(Increase)/Decrease in Debtors
Increase/(Decrease) in Creditors
**Net cash generated by/(used in) operating activities**
**Cash and cash equivalents carried forward**
**Cash and cash equivalents comprise:**
Cash at bank and in hand
**Cash flows from investing activities**
Interest income
**Change in cash and cash equivalents in the year**
**Cash and cash equivalents brought forward**||5,824
443,012
**2025**
**£**
(19,689)
(5,824)
17,387
92,540
84,414
90,238
352,774
443,012||_5,068_
_352,774_
**_2024_**
**_£_**
_(39,883)_
_(5,068)_
_(6,741)_
_14,459_
_(37,233)_
_(32,165)_
_384,939_
_352,774_|
|---|---|---|---|---|
||||||
||||||
||||||
||||||
The notes on pages 20 to 27 form part of these accounts
Page 19
**Voluntary Action South Leicestershire**
## **Notes to the accounts**
## **for the year ended 31 March 2025**
## **1. STATUS OF THE COMPANY**
The company is a private company registered in England & Wales and is limited by guarantee. It does not have a share capital but every member of the company is required, in the event of it being wound up while he or she is a member (or within twelve months of their ceasing to be a member), to contribute the sum of £1 towards the debts and liabilities of the charity, which were incurred before they ceased to be a member, and the costs of winding up.
The Memorandum and Articles of Association specify that the company is a non-profit making organisation that shall apply any income that it receives in fulfilling its objectives and it is registered as a charity by the Charity Commissioners for England and Wales. If upon winding up any assets remain after the satisfaction of all debts and liabilities they shall be transferred to some other charitable body or bodies having similar objects to the charity.
## **2 PRINCIPAL ACCOUNTING POLICIES**
## **(i) Accounting convention and basis of accounting**
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued in October 2019 (“SORP 2019 (FRS 102)”), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (“FRS 102”), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.
## **(ii) Basis of accounting and going concern**
The financial statements are prepared under the historical cost convention and on a going concern basis. The trustees consider that there are no material uncertainties which cast doubt on the charity’s ability to continue as a going concern. In forming this opinion they have considered the level of funds held and the expected level of income and expenditure in the twelve months from the date of the approval of these financial statements.
## **(iii) Incoming resources**
All incoming resources are reported gross of any related expenditure.
**Donations and legacies** comprises all incoming resources from sponsorships, legacies, donations and grants (including those received from local governmental organisations). Such income is recognised in the period: in which the charity is legally entitled to the receipt; after any performance conditions have been met; the amount can be measured with reasonable certainty; and it is probable that the income will be received. Where there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then the income is deferred until those conditions are fully met. Any such income which is deferred to a future accounting period is carried forward in the balance sheet within creditors falling due within one year.
No amounts are included in accounts for services donated by volunteers.
**Incoming resources from charitable activities** comprise amounts receivable by the charity, from users of the services that it provides, in undertaking it charitable activities.
**Investment income** comprises interest receivable on cash balances held in appropriate interest bearing deposits. Such income is recognised when it is receivable and is allocated to the fund to which it relates.
**Other trading activities** comprise income from letting and licensing arrangements for space in property held primarily for functional use by the charity but which is temporarily surplus to its operational requirements.
**Other income** represents miscellaneous operational receipts that do not relate to any of the above headings.
Page 20
**Voluntary Action South Leicestershire**
## **Notes to the accounts**
## **for the year ended 31 March 2025**
## **2 PRINCIPAL ACCOUNTING POLICIES (continued)**
## **(iv) Resources expended**
All expenditure is accounted for on an accruals basis and is recognised when there is a legal or constructive obligation to pay, it is probable that settlement will be required and the amount of the obligation can be measured reliably. As the charity is not VAT registered the expenditure is stated inclusive of VAT. All of the expenditure in the year has been categorised as relating to charitable activities.
**Cost of charitable activities** represents the direct costs incurred in providing services to its users/beneficiaries in fulfillment of the charity’s objects together with all of the support costs, such as governance, staff, premises and administration costs that are directly attributable to those activities.
Any support costs that are not directly attributable to particular headings are allocated to activities on a basis consistent with use of the resources. This allocation involves a significant degree of management judgement but the charity has to consider the cost benefit of detailed calculations and record keeping.
## **(v) Tangible fixed assets and depreciation**
Expenditure of a capital nature, which exceeds £2,000 per item, is capitalised at cost as a fixed asset and depreciation is provided on a straight-line basis so as to write off the cost over the anticipated useful economic life of the asset. The relevant rate is 25% per annum.
## **(vi) Financial instruments**
All of the charity’s financial assets and financial liabilities are of a kind that qualify as basic financial instruments. Such basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value.
## **(vii) Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
- **(viii) Operating leases** Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred on a straight-line basis over the term of the lease.
- **(ix) Pension costs** Payments to defined contributions schemes on behalf of the charity’s employees are charged as an expense in the Statement of Financial Activities as they are incurred.
- **(x) Fund accounting** The charity has various types of funds for which it is responsible and which require separate disclosure.
**Unrestricted funds** comprise those general funds which the Trustees are free to use in accordance with the charity's objects.
**Designated funds** are unrestricted funds which the Trustees have earmarked for particular purposes.
**Restricted funds** are funds which have been given to the charity for particular purposes specified by the donor or by the terms of an appeal, within the overall aims of the charity. The donation and any income arising therefrom must be used in accordance with the specified purposes.
Transfers are made from restricted funds to general funds to cover the agreed contribution from each fund towards the general management expenses of the charity.
A description of the funds in existence in the year is given at Note 11.
Page 21
**Voluntary Action South Leicestershire**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025**
|Grants received in the year from:
Leicestershire County Council
Harborough District Council
Charnwood Borough Council
Leicestershire Partnership NHS Trust
National Lottery Community Fund/Big Lottery Fund
Masonic Charitable Trust
Market Harborough & The Bowdens Charity
Energy Savings Trust
Movement in deferred income
Other donations and voluntary income
**Total income from donations and legacies**
**3**
**INCOME FROM DONATIONS & LEGACIES**|-
229,575
229,575
9,800
-
9,800
-
3,000
3,000
-
10,800
10,800
-
146,124
146,124
-
30,000
30,000
34,664
-
34,664
-
31,539
31,539
51,538
456,792
508,330
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**2025**
**£**
**£**
**£**
44,464
451,038
495,502
-
-
-
44,464
451,038
495,502
7,074
5,754
12,828|_282,658_
_9,800_
_-_
_-_
_137,837_
_-_
_34,664_
_18,146_
**_Total Funds_**
**_2024_**
**_£_**|
|---|---|---|
|||_483,105_
3,501|
|||_486,606_
_8,116_|
|||_494,722_|
In the year ended 31 March 2024, £442,142 of Grants and £5,073 of Other donations and voluntary income related to restricted funds (see Note 11).
Certain grants received are subject to performance conditions which the charity has to fulfil in order to become entitled to use the income. The balance of the income deferred, which is included in Creditors: Amounts falling due within one year, comprises:
|Deferred income at the start of the year
Net Movement in the year
Deferred income at the end of the year
Movement in deferred income
**Total income from charitable activities**
**4**
**INCOME FROM CHARITABLE ACTIVITIES**
Contributions from users of the Transport Schemes
Costs recharged to HCYC
Leicestershire County Council for administration of
Hospital Discharge Grant for Carers|**Unrestricted**
**Funds**
**£**
-
-
54,000|
|---|---|
The funding from Leicestershire County Council is made in return for the charity providing services in the administration of the Hospital Discharge Grant for Carers over a fixed term. Income is recognised by the charity on a straight line basis as the fi xed term elapses and the balance of the income is deferred and is included in Creditors: Amounts falling due within one year (Note 10). The movement in the deferred income is as follows:
|Deferred income at the start of the year
Net Movement in the year
Deferred income at the end of the year||**2025**
**£**
_-_
_45,000_
_45,000_|**_2024_**
**_£_**
_-_
_-_|
|---|---|---|---|
||||_-_|
Page 22
## **Voluntary Action South Leicestershire**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025**
|Office, administration & IT:
Office expenses & IT
36,962
4,442
41,404
Repairs and renewals
569
-
569
Consultancy & professional fees
18,144
1,030
19,174
Publicity and promotion of charitable activities
30
2,222
2,252
Miscellaneous expenses
-
-
-
**Total expended on charitable activities**
**5**
**EXPENDITURE ON CHARITABLE ACTIVITIES**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**2025**
**£**
**£**
**£**
**Costs incurred in connection with:**
Governance:
Auditors' remuneration (including preparation of accounts)
10,200
-
10,200
Staff & volunteers:
Gross wages and salaries
82,817
304,521
387,338
Employers' NI Contributions
5,850
19,471
25,321
Pension contributions
3,221
14,532
17,753
Temporary staff costs
-
1,104
1,104
Staff travel and training
1,350
6,438
7,788
Other staff costs
647
83
730
Volunteers' costs
61
46,678
46,739
Event costs
215
11,359
11,574
94,161
404,186
498,347
Premises and assets:
Insurance
3,892
-
3,892
Other premises costs
30,627
-
30,627
34,519
-
34,519
55,705
7,694
63,399
194,585
411,880
606,465|**_Total Funds_**
**_2024_**
**_£_**
_9,780_|
|---|---|
||_390,008_
_25,607_
_18,365_
_-_
_6,226_
_-_
_44,053_
_9,357_|
||_493,616_|
||_3,974_
_30,081_|
||_34,055_|
||_40,611_
_505_
_14,612_
_2,035_
_305_|
||_58,068_|
||_595,519_|
Of the total costs incurred in the year ended 31 March 2024, £415,077 related to restricted funds (see Note 11).
|The above costs are allocated as follows:
Governance
Staff & volunteers
Premises and assets
Office, administration & IT
411,880
194,585
606,465
**Directly**
**attributed to**
**Support**
**2025**
**activities**
**Costs**
**Total**
**£**
**£**
**£**
-
10,200
10,200
404,186
94,161
498,347
-
34,519
34,519
7,694
55,705
63,399
These costs are associated with the following categories of
charitable activity in the year:
Carers Services
189,070
80,351
269,421
Befriending services
117,150
51,219
168,369
Transport services
105,040
14,654
119,694
Development of Community Services:
Funded by restricted grants
620
-
620
Funded from unrestricted income
-
48,361
48,361
411,880
194,585
606,465|**_2024_**
**_Total_**
**_£_**
_9,780_
_493,616_
_34,055_
_58,068_|
|---|---|
||_595,519_|
||_276,665_
_155,547_
_114,403_
_-_
_48,904_|
||_595,519_|
Page 23
## **Voluntary Action South Leicestershire**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025**
## **5 EXPENDITURE ON CHARITABLE ACTIVITIES continued**
The basis of allocation of support costs is management budgeting and review of estimated usage. Inevitably, this has involved a significant element of judgement but the charity has to consider the cost benefit of detailed calculations and record keeping.
## **6 TRUSTEES' REMUNERATION & EXPENSES**
None of the Trustees, or any persons connected with them, received any remuneration for their services as trustees in either the year ended 31 March 2025 or in the preceding financial year. No expenses were paid to trustees during either year.
## **7 STAFF NUMBERS AND EMOLUMENTS**
|**STAFF NUMBERS AND EMOLUMENTS**|**Year Ended**|**_Year Ended_**|
|---|---|---|
||**31 March**|**_31 March_**|
|The average number of employees in the year was as follows:|**2025**|**_2024_**|
|Engaged on charitable activities|16.50|_16.50_|
|Engaged in management and administration|2.00|_2.08_|
|**Totals**|18.50|_18.58_|
No person's emoluments exceeded £60,000 per annum and the aggregate amount paid was as follows:
|Salaries
Social Security Costs (net of Employment Allowance)
Pension contributions
**Total paid by the charity**|**Year Ended**
**31st March**
**2025**
**£**
387,338
25,321
17,753
430,412|**_Year Ended_**
**_31st March_**
**_2024_**
**_£_**
_390,008_
_25,607_
_18,365_|
|---|---|---|
|||_433,980_|
The above amounts include redundancy payments of £4,496 (2024; £Nil) which were paid out of unrestricted funds and covered by a transfer from the designated Financial Reserve fund.
Contributions to the employees' defined contribution pension plans are included in resources expended as they are incurred and are allocated between funds using the same method as the salaries to which they relate. At 31 March 2025 contributions of £175 (2024: £2,997) were included in accruals.
The total employment benefits (including pension contributions) of the key management personnel, comprising the Trustees (who received no remuneration), the Charity Manager and the managers of: Carer Services, Transport; Community Champions; Wellbeing Befriending; and Business Support, were £193,241 (2024: £196,988).
## **8 NET INCOME/(EXPENDITURE) FOR THE YEAR**
|||||
|---|---|---|---|
|**NET INCOME/(EXPENDITURE) FOR**|**THE YEAR**|**Year Ended**|**_Year Ended_**|
|||**31st March**|**_31st March_**|
|Net Income/(Expenditure) is stated after charging the following expenses:||**2025**|**_2024_**|
|Operating lease rentals||_19,376_|_20,056_|
|Auditors' remuneration||||
|Edward Thomas Peirson & Sons|For audit services|6,000|_5,580_|
||For other assurance services|4,200|_4,200_|
Edward Thomas Peirson & Sons prepared and audited the statutory accounts.
|**9**
**DEBTORS**
Trade Debtors
Prepayments
Other Debtors||**2025**
**£**
5,417
3,053
156
8,626||**_2024_**
**_£_**
_18,721_
_7,168_
_124_|
|---|---|---|---|---|
|||||_26,013_|
Page 24
## **Voluntary Action South Leicestershire**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025**
## **10 CREDITORS: Amounts falling due within one year**
|Accrued expenses
Deferred income (see Note 4)
Other creditors
Other taxes and social security
**11**
**FUNDS**
**Unrestricted Funds:**
**General Fund**
**Designated Funds:**
Financial Reserve
Adversity Reserve
**Restricted Funds:**
**Related to Development of**
**Community Services**
**Related to carers:**
Leicester carers project
Young carers
Dementia Guardians
**Related to befriending:**
Community champions
Community wellbeing
Mental Health Friendly
Harborough
**Related to transport:**
Transport
**Total restricted funds**
**Total Funds**
**Total unrestricted funds**|**At 1 April**
**2024**
**Income**
**Expenditure**
**£**
**£**
**£**
64,903
111,525
(194,585)
110,000
-
-
20,000
-
-|**2025**
**£**
20,709
45,000
64,048
6,730
136,487
**Movement in**
**Deferred**
**Income**
**Transfers**
**£**
**£**
(45,000)
150,719
-
(4,496)
-
-|**_2024_**
**_£_**
_21,398_
_-_
_15,861_
_6,688_|
|---|---|---|---|
||||_43,947_|
|||||
||||**At 31 March**
**2025**
**£**
87,562
105,504
20,000|
||194,903
111,525
(194,585)|(45,000)
146,223|213,066|
||
-
619
(619)
58,859
216,767
(175,737)
-
1,499
(1,499)
5,634
30,000
(11,834)
10,693
102,277
(78,368)
34,532
46,207
(35,400)
-
10,800
(3,384)
30,219
112,082
(105,039)|
-
-
-
(74,158)
-
-
-
(6,193)
-
(31,680)
-
(17,309)
-
(2,229)
-
(14,654)|-
25,731
-
17,607
2,922
28,030
5,187
22,608|
||139,937
520,251
(411,880)|-
(146,223)|102,085|
||334,840
631,776
(606,465)|
(45,000)
-|315,151|
**Unrestricted funds** comprise those funds which the Trustees are free to use in accordance with the charity's objects.
**Designated funds** are unrestricted funds which have been earmarked for particular purposes. The financial reserve is maintained at a level which is approximately equal to the aggregate of: three months' core running costs; the amount required to cover potential redundancy costs; and anticipated net cash outflows in the event of the charity's activities being wound up. The adversity reserve was created in January 2021 to cover additional expenditure that may be incurred in extraordinary circumstances such as those experienced in 2020 due to the Covid pandemic. No expenditure of money from either reserve can be committed except by explicit decision of the board.
**Restricted funds** are funds which have been given to or have been raised by the charity for particular purposes. They are grouped together into the broad categories to which they relate, namely: carers; befriending; transport and other activities. The Tru stees' report provides additional information in relation to these activities and funds.
Page 25
**Voluntary Action South Leicestershire**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025**
## **11 FUNDS (continued)**
**Transfers** from the various restricted funds to the general fund are made in respect the agreed contribution from each fund towards the business support costs of the charity. Occasionally, transfers are also made between restricted funds to reflect the value of the benefit received by a fund from expenditure incurred in another fund.
Any deficit remaining, at the end of a project that has financed by restricted funds, is covered by a transfer from the general fund.
Fund movements during the year ended 31 March 2024 were as follows:
|**Unrestricted Funds:**
**General Fund**
**Designated Fund:**
Financial Reserve
Adversity Reserve
**Total unrestricted funds**
**Restricted Funds:**
**Related to Development of**
**Community Services**
**Related to carers:**
Leicester carers project
Young carers
Dementia Guardians
**Related to befriending:**
Community champions
Community wellbeing
**Related to transport:**
Transport
**Total restricted funds**
**Total Funds**|**Movement in**
**At 1 April**
**Deferred**
**At 31 March**
**2023**
**Income**
**Expenditure**
**Income**
**Transfers**
**2024**
**£**
**£**
**£**
**£**
**£**
**£**
61,233
52,575
(180,442)
-
131,537
64,903
110,000
-
-
-
-
110,000
20,000
-
-
-
-
20,000|**Movement in**
**At 1 April**
**Deferred**
**At 31 March**
**2023**
**Income**
**Expenditure**
**Income**
**Transfers**
**2024**
**£**
**£**
**£**
**£**
**£**
**£**
61,233
52,575
(180,442)
-
131,537
64,903
110,000
-
-
-
-
110,000
20,000
-
-
-
-
20,000|
|---|---|---|
||191,233
52,575|(180,442)
-
131,537
194,903|
||-
-
39,934
256,238
-
1,418
40,000
68
20,306
99,874
41,273
39,318
41,977
102,644|-
-
-
-
(170,777)
3,501
(70,037)
58,859
(1,418)
-
-
-
(23,222)
-
(11,212)
5,634
(80,782)
-
(28,705)
10,693
(37,370)
-
(8,689)
34,532
(101,508)
-
(12,894)
30,219|
||183,490
499,560|(415,077)
3,501
(131,537)
139,937|
||374,723
552,135|(595,519)
3,501
-
334,840|
## **12 ANALYSIS OF NET ASSETS BETWEEN FUNDS**
The allocation of net assets between funds at 31 March 2025 was as follows:
|Total Net Assets
Debtors
Cash at bank and in hand
Creditors: Amounts falling due within one year|**General**
**Designated**
**Restricted**
**Fund**
**Fund**
**Funds**
**Total**
**£**
**£**
**£**
**£**
3,158
-
5,468
8,626
151,962
125,504
165,546
443,012
(67,558)
-
(68,929)
(136,487)|**General**
**Designated**
**Restricted**
**Fund**
**Fund**
**Funds**
**Total**
**£**
**£**
**£**
**£**
3,158
-
5,468
8,626
151,962
125,504
165,546
443,012
(67,558)
-
(68,929)
(136,487)|**General**
**Designated**
**Restricted**
**Fund**
**Fund**
**Funds**
**Total**
**£**
**£**
**£**
**£**
3,158
-
5,468
8,626
151,962
125,504
165,546
443,012
(67,558)
-
(68,929)
(136,487)|**General**
**Designated**
**Restricted**
**Fund**
**Fund**
**Funds**
**Total**
**£**
**£**
**£**
**£**
3,158
-
5,468
8,626
151,962
125,504
165,546
443,012
(67,558)
-
(68,929)
(136,487)|
|---|---|---|---|---|
||87,562|125,504|102,085|315,151|
All liabilities connected with the payroll are included in the above analysis as relating to the General Fund.
Page 26
**Voluntary Action South Leicestershire**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025**
## **12 ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)**
|The allocation at 31 March 2024 was:
Debtors
Cash at bank and in hand
Creditors: Amounts falling due within one year
Total Net Assets|**General**
**Designated**
**Restricted**
**Fund**
**Fund**
**Funds**
**£**
**£**
**£**
7,292
-
18,721
81,523
130,000
141,251
(23,912)
-
(20,035)|**General**
**Designated**
**Restricted**
**Fund**
**Fund**
**Funds**
**£**
**£**
**£**
7,292
-
18,721
81,523
130,000
141,251
(23,912)
-
(20,035)|**General**
**Designated**
**Restricted**
**Fund**
**Fund**
**Funds**
**£**
**£**
**£**
7,292
-
18,721
81,523
130,000
141,251
(23,912)
-
(20,035)|**Total**
**£**
26,013
352,774
(43,947)|
|---|---|---|---|---|
||64,903|130,000|139,937|334,840|
## **13 OPERATING LEASE COMMITMENTS**
The charity is committed to make the following aggregate future minimum lease payments under noncancellable operating leases:
|cancellable operating leases:||||
|---|---|---|---|
|**Aggregate payments due:**
Within one year
In two to five years
In more than five years||**2025**
**£**
876
219
-
1,095|**_2024_**
**_£_**
_10,126_
_1,095_
_-_|
||||_11,221_|
## **14 RELATED PARTIES**
There were no related party transactions in the year or in the preceding financial year.
Page 27