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2023-03-31-accounts

Company number: 07183132 Charity Number: 1143640

Nova Wakefield District Limited

Report and financial statements For the year ended 31 March 2023

Nova Wakefield District Limited

Reference and administrative information

for the year ended 31 March 2023

Company number 07183132

Charity number 1143640 Registered office and operational address

11 Upper York Street, Wakefield, West Yorkshire, WF1 3LQ

Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Christine Bann, Chair Simon Topham, Vice-Chair, Treasurer Usman Ali Mohammed Ayub Emily Castle Hayley Grocock Peter Taylor Lee Wood Janet Archbold Appointed 8/6/22 Samantha Davis Appointed 4/5/22 Lucy Ndlovu Appointed 4/5/22 Antony Nelson Appointed 1/2/23 Michael Holt Resigned 10/6/22 Paula Bee Resigned 05/10/22

Key management Maddy Sutcliffe, Chief Executive Officer

personnel Natalie Jones, Operations Manager

David Forrest, Community and Enterprise Development Manager

Scott Copeland, Contracts and Grants Manager

Bankers

Unity Trust Bank

Brindley Place, Birmingham, B1 2JB

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Nova Wakefield District Limited

Trustees’ annual report

for the year ended 31 March 2023

Charity Aid Foundation, Flagstone Investment Management

1st Floor, Clareville House, 26-27 Oxendon Street, London, SW1Y 4EL

Hodge Bank

One Central Square, Cardiff CF10 1FS

Auditors

Slade & Cooper Limited

Beehive Mill, Jersey Street, Ancoats, Manchester, M4 6JG

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Nova Wakefield District Limited

Trustees’ annual report

for the year ended 31 March 2023

Trustees Report

The trustees present their report and the audited financial statements for the year ended 31 March 2023. Included within the trustees’ report is the directors’ report as required by company law.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Nova’s charitable objectives are:

To promote any charitable purposes for the benefit of the public, principally but not exclusively in the government area of Wakefield District and its environs (hereinafter called the ‘area of benefit’) and, in particular, to build the capacity of Voluntary, Community and Social Enterprise (VCSE) sector organisations and provide them with the necessary support, information and services to enable them to pursue or contribute to any charitable purpose.

To promote, organise and facilitate co-operation and partnership working between VCSE, statutory and relevant bodies in the achievement of the above purposes within the area of benefit.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred 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 its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

Achievements and Performance

The charity's main activities and who it tries to help are described below. All its charitable activities focus on the development of Wakefield District’s VCSE Sector and are undertaken to further Nova Wakefield District Limited’s charitable purposes for the public benefit.

The last year has seen some significant changes, developments and successes for Nova. Mike Holt, Nova’s Chair of ten years, retired. Mike took an active leadership role within Nova and within the wider VCSE Sector.

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Nova Wakefield District Limited

Trustees’ annual report

for the year ended 31 March 2023

A true advocate, he strived for change across Wakefield District and furthered the cause of the VCSE Sector immeasurably. The Board of Trustees and Senior Team shared their utmost appreciation and thanks for the contributions, drive, and passion Mike put into the organisation.

Nova continued to pursue its aims of:

Providing support to enable organisations within the VCSE Sector to develop:

Having responsive and accessible infrastructure support is essential to the development of VCSE organisations. Our support for members included:

Nova is committed to ensuring it addresses inequalities in provision across Wakefield District by supporting the distribution of services and finding the most effective and useful ways to support Nova members.

Some notable successes included the launch of Nova’s new website, including a member’s area with resources, advice, hints and tips. The website was viewed over 23,000 times. Nova increased its capacity to share info & videos on social media, which received over 75,000 impressions. 17 workshops were held to help 163 members and partners to learn & develop.

The Thinking Differently Fund was designed by and for the VCSE Sector and funded by the Mental Health Alliance. This was the creation of a fantastic opportunity for five organisations who received a combination of Nova support and funding to solely look at organisational development. Nova’s role in brokering this funding and the continuing support given during the funding is key to its success.

Nova’s role in facilitating the development of the Volunteers Managers Network was invaluable, bringing together Volunteer Managers to develop a strategic approach to volunteering and offering peer support.

Nova and Prosper Wakefield District, a local grant making organisation, developed a strong partnership, leading to Prosper contributing to the funding of the infrastructure support provided by Nova.

Providing a voice for the VCSE sector and influencing local policies and practices:

It is key that the VCSE sector is at the heart of governance and decision-making arrangements, working in collaboration and promoting diversity. Nova facilitated this through negotiating support from cross sector partners, including funding to develop its VCSE Voices project. This sees members of the sector regularly attend strategic, decision-making meetings across the district. This provides an opportunity for our sector to influence policy and take part in cross-sector discussions to improve services so that they meet the needs of local people. Nova recruited and continues to support VCSE Advocates, who champion the sector, providing knowledge and insight about the needs of VCSE groups and the diverse communities they serve.

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Nova Wakefield District Limited

Trustees’ annual report

for the year ended 31 March 2023

Nova continues to enable advocates to share information from and to the sector, facilitated by monthly VCSE Voices Network meetings - a peer discussion space open to all colleagues from the sector.

Nova provided representation on a number of local, strategic policy boards including those associated with Connecting Care, Integrated Care, Mental Health and stronger communities.

Securing resources for the VCSE Sector in the area of benefit

Nova bid for, negotiated and coordinated various funding opportunities for its members. Nova distributed £680,386 to 72 VCSE organisations through contracts and grants.

The Third Sector Framework is a fair, open and transparent way of distributing funding to the VCSE sector and engage the sector in the co-design, co-production and co-delivery of services. This is a partnership approach between Wakefield Council, Wakefield District Health & Care Partnership, Young Lives Consortium and Nova. Nova continues to be instrumental in the facilitation and administration of the Framework, enabling access to funding for more organisations. A total of £607,833 went through the Framework to VCSE Sector organisations during the financial year of 2022-2023.

Wakefield District Funders Forum is a strategic group that brings together local and national funders, and more recently local commissioners. It has proved valuable in encouraging grant makers to consider funding opportunities across Wakefield District.

In response to the cost-of-living crisis, £173,918 was distributed by Nova to 25 local VCSE organisations to support a network of Warm Spaces from which important support services were delivered. 4,691 volunteers supported this program equating to £48,000 of volunteer time. An average of 387 Wakefield District residents attended every week.

Beneficiaries

The beneficiaries of Nova’s services are VCSE Sector organisations that are based in or provide services in Wakefield District. Nova welcomed 54 new members, bringing Nova membership to a total of 468 by March 2023. Nova’s skilled and dedicated team supported 333 VCSE groups & organisations. The above could not have been achieved so successfully without the incredibly hard working staff team at Nova. The blend of skills, knowledge and experience that they bring ensures that Nova provides an excellent service to its members and promotes outstanding relationships with partners.

Financial review

The last financial year has seen Nova maintain good financial stability, reporting a surplus of income over expenditures of £126,631. This, and changes to the new accountants recording of income, has resulted in the growth of unrestricted reserves to £674,247 which the Trustees will aim to earmark for potential costs involved in establishing a new home for Nova and the Wakefield District VCSE sector. The Trustees also foresee further investment in the infrastructure of the organisation including a new CRM system, a move to

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Nova Wakefield District Limited

Trustees’ annual report

for the year ended 31 March 2023

online telephony and also costs involved in re-purposing the Upper York Street premises when Nova’s operations are moved into more suitable premises. In addition, The Trustees also see the benefits of further developing the current experienced and highly capable team to support the VCSE sector. With all these potential investments at an advanced state of planning, the Trustees are satisfied that growing current healthy levels of unrestricted reserves is a cautious and necessary situation at this time.

During the year Nova has held large amounts on behalf of other organisations, especially funds set aside by WMDC for distribution via the Third Sector Framework. £600,000 was provided for this purpose in 2022 and placed in Nova’s bank accounts. By year end a large proportion of this amount was still held on behalf of WMDC and Nova made arrangements to place these monies in bank accounts and investments that balanced accessibility, security (under FSCS protection) and ability to earn interest income. The Trustees approved a plan to set aside parts of our reserves and monies held on behalf of other organisations in the Flagstone Investment platform. An investment policy for this platform has been agreed to balance the three objectives of security, accessibility and earning potential.

Designated reserves include amounts set aside to cover all running costs, including salaries for 6-months and monies to cover redundancy and other legal obligations.

A significant amount of work has been undertaken with Public Health colleagues in working towards multiyear funding from WMDC and ICB - Wakefield Place. This enables Nova to emerge from the pandemic years which necessarily involved more reactive project work moving forward to implement a professional structure, policies and processes.

Nova is a role model organisation for the VCSE Sector and the Trustees strive to challenge themselves and the Senior Team to employ and promote best practice. During this year Penny Carter retired from supporting with Nova’s finances processes. The Board of Trustees and Senior Team acknowledged the significant contribution that Penny had made and thanked her for her time with Nova. The Trustees took the time to review the financial processes and agreed to appoint new auditors to ensure a full and robust audit. Nova Trustees and Senior team would like to recognise the support provided by Hansons Accountants in previous years.

Reserves policy

Nova’s reserves policy seeks to make provision to cover the costs of six months operation in the event of the organisation having to wind up. It held the following types of reserves:

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Nova Wakefield District Limited

Trustees’ annual report

for the year ended 31 March 2023

At the end of March 2023 Nova’s unrestricted reserves were £674,247 and restricted reserves were £1,022,332.

Plans for the Future

Nova has undertaken a business planning process co-produced with members, stakeholders, trustees and staff. This has led to the organisation having clear priorities:

Support our members to develop based on local, diverse population needs

As the needs of Wakefield District’s local population change and the services and support from local organisations change, it is important that Nova provides the support, skills and connections that enable the VCSE sector to be sustained. Member organisations need to be as best equipped as they can to meet current and future needs. To do this, Nova needs to look ahead at the local demographics and work with local partners across organisations to focus on areas of inequality, deprivation and the determinants of wellbeing. This means that Nova will continue to develop its offer for members and consider the infrastructure that is needed to be commercially viable, to support member collaboration and build connections for the future.

Develop and strengthen community partnerships

Through our consultation, people have told Nova that they recognise the role, influence, and value of the VCSE sector. Effective partnerships with the sector can deliver significant social value, deliver holistic services, and provide greater resilience to individual organisations. These partnerships take time, commitment, and resources to develop and maintain. So it is important that Nova continues to invest in partnership working, to influence and operate at both the strategic and operational levels and be able to link policy and strategy to delivery on the ground through our members. Through the consultation Nova has heard that it is seen as a trusted organisation and is recognised as being effective in developing partnership working, helping to add social value across Wakefield District. Being a strong community partner organisation also means looking after the team at Nova and providing the support, opportunities, and training to support and develop the staff team. Nova wants to continue to invest in the development of staff and the Board of Trustees so that we have the skills and expertise to support our members and the VCSE sector.

Secure funding for the VCSE sector

The access to and fair distribution of resources is vital to the sustainability of VCSE organisations. Having transparent governance and fair access to funds supports the development of the VCSE sector and is core to Nova’s purpose as an organisation.

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Nova Wakefield District Limited

Trustees’ annual report

for the year ended 31 March 2023

Structure, governance and management

The charity is a company limited by guarantee and was incorporated on 9[th] March 2010. It is governed by a memorandum and articles of association as amended by special resolution on 8[th] August 2011 and 12[th] July 2013 and 12[th] September 2018. The liability of the trustees in the event of the company being wound up is limited to a sum not exceeding £1.

Recruitment and appointment of new trustees

The trustees of the charity are also directors for the purpose of company law. Trustees are recruited primarily from the membership Nova Wakefield District, and occasionally from outside the membership to meet the skills requirements of the board. Trustees who are not part of an organisation which is a Nova member are made individual Nova members once they are on the Nova board. Trustees are appointed by members at the AGM or co-opted by other members of the board between AGM’s to ensure that the board has the skills required to govern the organisation. (co-opted Trustees then stand for election at the AGM following their co-option). Nova has reviewed its recruitment processes as it is committed to having a diverse board that is reflective of the communities it work with.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the organisation but this entitles them only to voting rights. The trustees have no beneficial interest in the organisation.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 12 to the accounts.

Related parties and relationships with other organisations

Nova is a member of NCVO, NAVCA and Locality, strategic, national bodies which seek to support the interests of local infrastructure organisations and charities.

Nova works closely with Wakefield Metropolitan District Council and Wakefield ICB. It has representation on a range of strategic policy boards and panels, particularly those associated with Health and Wellbeing.

Remuneration policy for key management personnel

Nova’s Renumeration policy is set by the board on the recommendation of the HR Sub Committee and Finance Sub Committee. An annual process is undertaken that reviews the full reward package for staff members. This is benchmarked using details of other salaries in Wakefield District and similar organisations in a wider geography. Any recommendations are made by HR Sub Committee, endorsed by Finance Sub Committee and presented to full board for decision.

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Nova Wakefield District Limited

Trustees’ annual report

for the year ended 31 March 2023

Risk management

Nova operates a Risk Management Policy and a Business Continuity Plan both of which are regularly updated.

Fundraising

Nova Wakefield does not undertake public fundraising.

Funds held as custodian trustee on behalf of others

Meeting the aim of Nova to generate source for the sector, this is a key activity for us and in the course of this activity we make onward grants and as a matter of daily operations, hold funds on behalf of organisations. These funds are identified and recorded separately and where necessary kept in interest bearing accounts. Funds held on behalf of external organisations by Nova are overseen and reported by the Finance Sub Committee which reports to the full board.

Statement of responsibilities of the trustees

The trustees (who are also directors of Nova Wakefield District Limited for the purposes of company law) are responsible for preparing the trustees’ annual report 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:

The trustees are responsible for keeping proper 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

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Nova Wakefield District Limited

Trustees’ annual report

for the year ended 31 March 2023

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:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditors

Slade & Cooper Ltd were appointed as the charitable company's auditors during the year and have expressed their willingness to continue in that capacity.

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.

The trustees’ annual report has been approved by the trustees on 4[th] December 2023 and signed on their behalf by

Christine Bann

Chair

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Independent auditors’ report

to the members of

Nova Wakefield District Limited

Opinion

We have audited the financial statements of Nova Wakefield District Limited (the ‘charitable company’) for the year ended 31 March 2023, which comprise the Statement of Financial Activities (including the income and expenditure account), the Balance Sheet, the Statement of Cash Flows and the related notes. 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:

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 charitable 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 trustees with respect to going concern are described in the relevant sections of this report.

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Other information

The trustees are responsible for the 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. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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 trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

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Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 9, 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.

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud

13

rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standardsand-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilitiesfor-audit.aspx. 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.

Christy Yun Hing Lau FCCA DChA CTA Senior Statutory Auditor

for and on behalf of

Slade & Cooper Limited Statutory Auditors Beehive Mill Jersey Street Manchester M4 6JG

20[th] December 2023

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Nova Wakefield District Limited

Statement of Financial Activities

(including Income and Expenditure account) for the year ended 31 March 2023

Unrestricted
funds
Note
£
Income from:
Donations and legacies
3
-
Charitable activities
4
51,364
5
8,425
Investments
6
3,032
Total income
62,821
Expenditure on:
Charitable activities
7
26,382
Total expenditure
26,382
36,439
10
36,439
Transfer between funds
179,955
216,394
Reconciliation of funds
Total funds brought forward
457,853
Total funds carried forward
674,247
Other trading activities
Net income/(expenditure) before
net gains/(losses) on investments
Net income/(expenditure) for the
year
Net movement in funds for the
year		 Restricted
funds
£
-
2,332,950
-
-
2,332,950
2,242,758
2,242,758
90,192
90,192
(179,955)
(89,763)
1,112,095
1,022,332		 Total funds
2023
£
-
2,384,314
8,425
3,032
2,395,771
2,269,140
2,269,140
126,631
126,631
-
126,631
1,569,948
1,696,579		 Total funds
2022
£
200
2,556,645
10,985
363
2,568,193
2,497,448
2,497,448
70,745
70,745
-
70,745
1,499,203
1,569,948

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

A full comparative SOFA is available on the last page of the financial statements.

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Nova Wakefield District Limited Company number 7183132

Balance sheet as at 31 March 2023

Note
£
£
Fixed assets
Tangible assets
15
100,000
Investments
16
300,000
Total fixed assets
400,000
Current assets
Debtors
17
610,967
Cash at bank and in hand
18
1,291,366
Total current assets
1,902,333
Liabilities
Creditors: amounts falling
due in less than one year
19
(605,754)
Net current assets
1,296,579
Total assets less current liabilities
1,696,579
Net assets
1,696,579
The funds of the charity:
Restricted income funds
20
1,022,332
Unrestricted income funds
21
674,247
Total charity funds
1,696,579
2023		 £
£
102,500
-
102,500
542,622
1,758,286
2,300,908
(833,460)
1,467,448
1,569,948
1,569,948
1,112,095
457,853
1,569,948
2022		 £
£
102,500
-
102,500
542,622
1,758,286
2,300,908
(833,460)
1,467,448
1,569,948
1,569,948
1,112,095
457,853
1,569,948
2022
102,500
1,467,448
1,569,948
1,569,948
1,112,095
457,853
1,569,948

These accounts are prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.

The notes on pages 18 to 40 form part of these accounts.

Approved by the trustees on 4th December 2023 and signed on their behalf by:

Christine Bann Chair

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Nova Wakefield District Limited

Statement of Cash Flows for the year ending 31 March 2023

Note
Cash provided by/(used in) operating activities
24
Cash flows from investing activities:
Dividends, interest, and rents from investments
Purchase of investments
Cash provided by/(used in) investing activities
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Increase/(decrease) in cash and cash
equivalents in the year		 2023
£
(169,952)
3,032
(300,000)
(296,968)
(466,920)
1,758,286
1,291,366		 2022
£
785,266
363
-
363
785,629
972,657
1,758,286

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Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

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), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice.

Nova Wakefield District Limited meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees have made no key judgments which have a significant effect on the accounts.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

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Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

d Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

f Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

h Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. The charity has one activity and therefore support and governance costs are not apportioned.

19

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

i Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease.

j Tangible fixed assets

Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows:

Freehold building 2% Sraight line Fixtures and fittings 25% Sraight line Computer equiment 33% Sraight line

k Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

l Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

n Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

20

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

o Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

p Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 11. There were no outstanding contributions at the year end. The costs of the defined contribution scheme are included within support and governance costs.

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.

3 Income from donations and legacies

Current reporting period
Donations
Total
Previous reporting period
Donations
Total		 Unrestricted
£
-
-
Unrestricted
£
200
200		 Restricted
£
-
-
Restricted
£
-
-		 Total 2023
£
-
-
Total 2022
£
200
200

21

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

4 Income from charitable activities

Current reporting period
Grants received
CLLD PEAT Capital Grants
CLLD PEAT Revenue
Community Safety
Community Safety Network
Help at the Hub
Income generation and Bid Writing
Kellingley Development Worker
Live Well Cancer Alliance Bursary
Live Well Post Covid Support
Live Well Small Grants scheme
Live Well Step Up
Live Well Waiting Well
Live Well Wakefield
MH Community Builder
Primary Care Network
Prosper
SWYPT/VCSE relationship
Test and Trace Engagement – Warm Spaces
Thinking Differently Development Fund
Third Sector Framework
Third Sector Framework Post
Third Sector Support/VRU
Wakefield Partnership People Plan
Warwick Ahead Big Local Plan 3
Warwick Ahead Big Local Plan 4
Warwick Connect Café
Warwick Craft Group
Warwick Digital Inclusion
WMDC Core grant
General grant income
Contract income
BBO Connecting Opportunities
EU Settlement Scheme
Health and Wellbeing Fund
Other income
Total		 Unrestricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5,900
32,669
-
-
-
12,795
51,364		 Restricted
£
46,761
10,676
3,000
2,000
74,991
37,500
29,000
8,678
96,712
150,000
35,987
18,886
571,391
34,514
256,094
25,000
25,000
97,503
275,000
(60,000)
37,500
10,500
50,000
14,676
103,474
7,000
4,860
1,000
220,990
-
-
77,020
44,437
21,482
1,318
2,332,950		 Total 2023
£
46,761
10,676
3,000
2,000
74,991
37,500
29,000
8,678
96,712
150,000
35,987
18,886
571,391
34,514
256,094
25,000
25,000
97,503
275,000
(60,000)
37,500
10,500
50,000
14,676
103,474
7,000
4,860
1,000
220,990
5,900
32,669
77,020
44,437
21,482
14,113
2,384,314

22

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

4 Income from charitable activities (cont.)

Previous reporting period
Grants received
CLLD PEAT Capital Grants
CLLD PEAT Revenue
Community Safety
Community Safety Network
DOTA
Emotional and Mental Wellbeing Fund
Help at the Hub
Live Well Post Covid Support
Live Well Small Grants scheme
Live Well Step Up
Live Well Wakefield
Primary Care Network
SWYPT/VCSE relationship
Test and Trace Engagement – Warm Spaces
Third Sector Framework
Warwick Ahead Big Local Plan 3
WMDC Core grant
Contract income
Other income
Total
Connecting Communities and Carer Digital
Inclusion Fund		 Unrestricted
£
-
-
-
-
-
-
43,270
-
-
-
-
-
-
-
39,104
50,000
-
208,526
66,509
29,265
436,674		 Restricted
£
15,000
12,083
3,000
2,000
4,500
43,236
333,359
76,800
8,059
295,000
35,082
538,612
232,321
50,000
275,784
-
62,251
-
127,722
5,162
2,119,971		 Total 2022
£
15,000
12,083
3,000
2,000
4,500
43,236
376,629
76,800
8,059
295,000
35,082
538,612
232,321
50,000
314,888
50,000
62,251
208,526
194,231
34,427
2,556,645

23

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

5 Income from other trading activities

Room Hire
All income from other trading activities is unrestricted.
6
Investment income
Current reporting period
Income from bank deposits
Previous reporting period
Income from bank deposits		 2023
£
8,425
8,425
Unrestricted
£
3,032
3,032
Unrestricted
£
363
363		 2022
£
10,985
10,985
Restricted
£
-
-
Restricted
£
-
-		 2023
£
3,032
3,032
2022
£
363
363

24

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

7 Analysis of expenditure on charitable activities

Current reporting period
Staff costs
Staff travel
Other staff costs
Activity and event costs
Community facilities
Community hubs DOTA
Contract delivery
Grants to institutions
Marketing and publicity
Partner expenditure
Recruitment
Training
Restricted expenditure
Unrestricted expenditure
Governance costs (see note 8)
Support costs (see note 8)		 2023
£
842,726
3,512
2,188
28,553
1,232
-
586,372
667,932
15,623
41,244
1,354
3,230
17,490
57,684
2,269,140
2023
£
2,242,758
26,382
2,269,140		 2022
£
678,164
4,229
1,864
11,474
700
16,628
620,126
1,049,554
27,284
5,243
1,710
5,461
10,054
64,957
2,497,448
2022
£
2,115,661
381,787
2,497,448

25

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

8 Analysis of governance and support costs

Current reporting period
Bank charges
Insurance
Postage, Printing and Stationery
Premises costs
Software, IT support and related costs
Subscriptions
Sundry expenses
Telephone, fax and broadband
Depreciation
Audit and accountancy fees
Legal and professional
Other governance costs
Previous reporting period
Bank charges
Insurance
Postage, Printing and Stationery
Premises costs
Software, IT support and related costs
Subscriptions
Sundry expenses
Telephone, fax and broadband
Depreciation
Audit and accountancy fees
Legal and professional
Other governance costs		 Support
£
263
6,758
3,538
21,166
5,121
3,234
9,681
4,373
2,500
-
1,050
-
57,684
Support
£
269
4,571
1,852
25,409
12,202
2,132
5,290
4,985
2,500
-
5,747
64,957		 Governance
£
-
-
-
-
-
-
-
-
-
10,768
6,222
500
17,490
Governance
£
7,140
714
2,200
10,054		 Total 2023
£
263
6,758
3,538
21,166
5,121
3,234
9,681
4,373
2,500
10,768
7,272
500
75,174
Total 2022
£
269
4,571
1,852
25,409
12,202
2,132
5,290
4,985
2,500
7,140
6,461
2,200
75,011

The charity has one activity and therefore support and governance costs are not apportioned.

26

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

9 Grants to institutions

Analysis of total grants paid by project being supported:

CLLD PEAT Capital grants
General Fund
Help at the Hub
Live Well Small Grants scheme
SWYPT&VCSE relationship
Test and Trace Engagement – Warm Spaces
Thinking Differently Development Fund
Third Sector Framework
Other
Emotional and Mental Wellbeing Fund		 2023
£
27,041
5,489
2,950
76,582
165,146
-
193,224
112,500
85,000
-
667,932		 2022
£
36,750
307,813
76,800
378,329
45,500
166,215
-
-
38,147
1,049,554

Details of our grants can be downloaded here: https://www.nova-wd.org.uk/our-work/360giving

27

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

10 Net income/(expenditure) for the year

This is stated after charging/(crediting):
Depreciation
Operating lease rentals:
Property
Auditor's remuneration - audit fees
Auditor's remuneration - accountancy fees
Staff costs
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs		 2023
£
2,500
12,800
4,500
2,000
2023
£
744,363
61,596
36,767
842,726		 2022
£
2,500
12,800
6,250
-
2022
£
601,012
51,083
26,069
678,164

11 Staff costs

No employees has employee benefits in excess of £60,000 (2022: Nil).

The average number of staff employed during the period was 31 (2022: 27).

The key management personnel of the charity comprise the trustees, the Chief Executive Officer, the Operations Manager, Community and Enterprise Development Manager and the Contracts and Grants Manager.

The total employee benefits of the key management personnel of the charity were £185,954.

28

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

12 Trustee remuneration and expenses, and related party transactions

Neither the trustees nor any persons connected with them received any remuneration during the year (2022: Nil).

Two trustees received reimbursed travel expenses during the year of £101 (2022: £nil).

Aggregate donations from related parties were £nil (2022: £nil).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

Progressive Talent C.I.C (Lucy Ndlovu) was paid £250 for the delivery of a workshop and £114 for VCSE representation during the year. The amount of £nil was outstanding at the year end.

Anthony Nelson was paid £7,000 for consultancy work as part of the Thinking Differently project during the year. The amount of £nil was outstanding at the year end.

Nova bid for, negotiated and coordinated various funding opportunities for its members. The transactions between Nova and the related parties are as follows:

Related parties Trustees in Project Grants
common received
£
Healthwatch Lee Wood Live Well 1,000
Small
Grants
scheme
Lightwaves Community Trust Mohammed Test & Trace 8,800
Ayub and Engagement
Hayley
Grocock
Prince of Wales Hospice Simon Topham Live Well 7,527
Small
Grants
St George's Lupset Ltd (to 10 Michael Holt Help at the 2,400
June 2022) Hub
Young Lives Consortium Mohammed General 25,750
Ayub Fund

No other trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2022: nil).

29

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

13 Government grants

The government grants recognised in the accounts were as follows:

Wakefield Council
Leeds City Council
NHS Wakefield ICB
West Yorkshire Combined Authority
South West Yorkshire Partnership NHS
Foundation Trust		 2023
£
25,000
1,391,871
77,020
378,400
10,500
1,872,291		 2022
£
50,000
1,504,050
-
-
-
1,554,050

The unfulfilled conditions attaching to the grants were to complete all the projects, which we expect to do in the forthcoming financial years.

14 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

15 Fixed assets: tangible assets

Cost
Additions
Depreciation
Charge for the year
Net book value
At 1 April 2022
At 31 March 2023
At 31 March 2023
At 31 March 2023
At 31 March 2022
At 1 April 2022		 Land and
buildings
£
125,000
-
125,000
22,500
2,500
25,000
100,000
102,500		 Fixtures and
Fittings
£
1,191
-
1,191
1,191
-
1,191
-
-		 Computer
equipment
£
8,042
-
8,042
8,042
-
8,042
-
-		 £
134,233
-
Total
134,233
31,733
2,500
34,233
100,000
102,500

30

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

16 Investments

Investments
Add: additions to investments at cost
Disposals at carrying value
Add net gain/(loss) on revaluation
Investments at fair value comprised:
Equities
Market value at the end of the year
Market value at the start of the year		 2023
£
-
300,000
-
-
300,000
300,000
300,000		 2022
£
-
-
-
-
-
-
-

Investments are all carried at fair value. These are held in the Flagstone Investment platform holding account and are all traded in quoted public markets.

17 Debtors

Trade debtors
Prepayments and accrued income		 2023
£
582,199
28,768
610,967		 2022
£
536,998
5,624
542,622

31

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

18 Cash at bank and in hand

18
Cash at bank and in hand
Cash at bank and on hand
19
Creditors: amounts falling due within one year
Trade creditors
Short term compensated absences (holiday pay)
Other creditors and accruals
Taxation and social security costs		 2023
£
1,291,366
1,291,366
2023
£
83,221
-
506,439
16,094
605,754		 2022
£
1,758,286
1,758,286
2022
£
380,276
-
439,912
13,272
833,460

32

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

20
Analysis of movements in restric
Balance at
1 April
2022
£
BASS
(42)
-
Bright Ideas Fund
130
(21,750)
CLLD PEAT Revenue
(3,735)
Community Anchors
48,552
Community Book
8,200
Community Safety
(1,154)
(1,992)
4,500
26,086
-
25,000
(51,482)
Help at the Hub
-
31,620
-
-
6,756
126,238
Live Well Step up
(4,713)
-
Live Well Wakefield
20,582
-
(846)
107,375
-
9,570
105,471
-
665,000
-
-
7,706
5,733
-
(5,461)
-
3,906
-
-
-
845
-
Total
1,112,095
Warwick Connect
Café
Community Safety
Network
Warwick Ahead
Other
Wakefield
Partnership People
Plan
Health and Wellbeing
Fund
Live Well Small
Grants scheme
NHSE
Communication and
Engagement
Live Well Post Covid
Support
Warwick Ahead BLP
4
Thinking Differently
Development Fund
Warwick Craft Group
Warwick Digital
Inclusion
Warwick Ahead BLP
3
Volunteering and CA
Hub
West Yorkshire and
Harrogate Health
and Care Partnership
Connecting
Communities and
Digital Incusion Fund
Primary Care
Network
Live Well Waiting
Well
Third Sector
Framework Post
Third Sector
Support/VRU
Test and Trace
Engagement – Warm
Spaces
Wakefield CCG
Bereavement Advice
SWYPT&VCSE
relationship
Third Sector
Framework
MH Community
Builder
Prosper
Kellingley
Development Worker
Live Well Cancer
Alliance Bursary
Harnessing Power of
Communities
Current reporting
period
BBO Connecting
Opportunities
CLLD PEAT Capital
grants
Emotional and
Mental Wellbeing
Fund
EU Settlement
Scheme
Income generation
and Bid Writing
WMDC Core grant		 ted funds
Income
£
-
77,020
-
46,761
10,676
-
-
3,000
2,000
-
-
44,437
-
21,482
74,991
37,500
29,000
8,678
96,712
150,000
35,987
18,886
571,391
34,514
-
256,094
25,000
25,000
97,503
275,000
(60,000)
37,500
10,500
-
-
50,000
14,676
103,474
1,318
7,000
4,860
1,000
-
220,990
2,332,950		 Expenditure
£
-
(77,020)
(130)
(25,011)
(6,941)
(16,837)
(5,831)
(1,846)
(8)
(4,500)
(26,086)
(44,437)
(25,000)
-
(81,248)
(37,500)
(24,245)
-
(64,355)
(210,147)
(31,274)
-
(559,909)
(34,514)
-
(242,888)
(6,250)
(9,570)
(172,974)
(126,601)
(85,000)
(30,160)
(10,500)
-
(38,022)
(9,215)
(50,524)
(1,284)
(7,000)
(4,860)
-
-
(171,071)
(2,242,758)		 Transfers
£
42
-
-
-
-
-
7,706
-
-
-
-
-
-
30,000
-
(31,620)
-
-
-
(22,064)
846
(120,581)
-
(30,000)
-
-
(7,706)
(5,733)
-
-
-
-
(845)
-
(179,955)		 Balance at
31 March
2023
£
-
-
-
-
-
31,715
10,075
-
-
-
-
-
-
-
(6,257)
-
4,755
8,678
39,113
66,091
-
18,886
10,000
-
-
-
18,750
25,000
-
148,399
520,000
7,340
-
-
-
11,978
-
52,950
3,940
-
-
1,000
-
49,919
1,022,332

33

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

20
Analysis of movements in restric
Balance at
1 April
2021
£
BASS
(42)
-
Bright Ideas Fund
277
-
CLLD PEAT Revenue
(3,319)
Community Anchors
48,934
Community Book
23,200
Community Safety
4,698
-
-
DOTA
17,229
539
-
42,028
(63,155)
Help at the Hub
-
31,620
-
197,469
Live Well Step up
(615)
Live Well Wakefield
19,840
-
68,818
20,000
-
665,000
10,820
350
5,733
Warwick Ahead BLP 3
5,356
8,396
845
3,764
Total
1,107,785
Test and Trace
Engagement – Warm
Spaces
WA Active Through
Football
Live Well Post Covid
Support
NHSE
Communication and
Engagement
Previous reporting
period
Income generation
and Bid Writing
Wakefield CCG
Bereavement Advice
Warwick Ahead
Other
West Yorkshire and
Harrogate Health
and Care Partnership
WY&H Targeted
Prevention Fund
Volunteering and CA
Hub
BBO Connecting
Opportunities
CLLD PEAT Capital
grants
Community Safety
Network
Live Well Small
Grants scheme
Connecting
Communities and
Digital Incusion Fund
Emotional and
Mental Wellbeing
Fund
EU Settlement
Scheme
Harnessing Power of
Communities
Health and Wellbeing
Fund
Primary Care
Network
SWYPT&VCSE
relationship
Third Sector
Framework		 ted funds (cont.)
Income
£
80,493
-
15,000
12,208
-
-
3,000
2,000
4,500
46,236
333,360
47,229
2,000
-
76,800
-
8,059
295,000
35,082
538,611
-
232,321
50,000
275,784
-
-
-
-
62,251
37
-
-
2,119,971		 Expenditure
£
(80,493)
(147)
(36,750)
(12,624)
(382)
(15,000)
(8,852)
(3,992)
-
(63,465)
(307,813)
(47,229)
(19,028)
11,673
(76,800)
-
(1,303)
(366,231)
(39,180)
(537,869)
(846)
(193,764)
(60,430)
(170,313)
-
(3,114)
(350)
-
(73,068)
(4,527)
-
(3,764)
(2,115,661)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2022
£
(42)
-
130
(21,750)
(3,735)
48,552
8,200
(1,154)
(1,992)
4,500
-
26,086
-
25,000
(51,482)
-
31,620
6,756
126,238
(4,713)
20,582
(846)
107,375
9,570
105,471
665,000
7,706
-
5,733
(5,461)
3,906
845
-
1,112,095

34

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

20 Analysis of movements in restricted funds (cont.) Analysis of movements in restricted funds (cont.)
Name of
restricted fund Description, nature and purposes of the fund
BBO Connecting work with new migrants to develop their skills and opportunities to find work
Opportunities and be part of the local community.
CLLD PEAT Capital developing third sector capacity, building on local community assets and
Grants & Revenue resources through a programme of activity to support the third sector to
become more enterprising and sustainable.
Community Anchors Raise awareness and their profile of Community Anchors in Wakefield District,
Promote and advertise what Community Anchors in Wakefield District have to
offer to the community, Encourage engagement within the Community Anchor
network, Share best practice within the network and externally to other
stakeholders, Increase media coverage of Community Anchors (via websites,
print, and social media)
Community Book development and ongoing hosting of a one stop shop website for community
activity.
Community Safety Improve/increase the profile of the CVS across the district, Act as a conduit to
support better engagement and communications with the CVS, proactively
engage with and support the Third Sector Advisory Group and other internal
PCC groups ensuring the voice of the CVS is thoroughly represented, working
with the OPCC set out how you will support applicants from the CVS sector to
the PCCs Safer Community Fund, Support Engagement, communications and
delivery of PCC strategies and the Police and Crime plan for west Yorkshire,
share good practice with the PCC and other District networks, Raise the profile
of Crime and Community safety across the VCS, Promote diversity and
inclusion ensuring all voices are heard and represented, Promote collaboration
across
the
sector,
Support
the
PCCs
annual
conference
and
other
PCC
organised events, Support the alignment of district based priorities and the
police
and
Crime
plan,
Ensure
the
CVS
are
aware
of
engagements/consultations taking place and encourage participation
Community Safety to strengthen links with the Wakefield Community Safety Partnership (CSP),
Network and
engage
voluntary
sector
organisations
in
discussion
and
sharing
information about community safety.
Emotional and to develop, trial and evaluate community solutions that support people to
Mental Wellbeing access mental health support in the community as early as possible. Hopefully
Fund reducing the likelihood of a mental health crisis occurring, or where one does
occur provide an alternative to statutory services.
EU Settlement to deliver practical support to vulnerable EU Citizens and their family members
Scheme (“Citizens”) to help them make their EU Settlement Scheme application.
Harnessing Power of Support for the sustainability of the VCSE sector
Communities
Health and Wellbeing a health and wellbeing service delivered through community organisations.
Fund
Help at the Hub grant funding for community hub venues to mitigate the impact of the
increased cost of living through the provision of practical support and advice
to residents who are in, or at risk of, financial difficulty.
Income generation to support the local VCSE Sector to strengthen its financial sustainability and
and Bid Writing resilience through income generation and specialist support
Kellingley 2-year post to support the organisational development at Kellingley Club
Development Worker
Live Well Cancer Delivery of 4 x 6 week ‘Cancer-Thriving and Surviving’ Courses in 2023-2024.
Alliance Bursary
Live Well Post Covid Group peer support and one to one support for those diagnosed and otherwise,
Support suffering post COVID (long-COVID).
Live Well Small The overarching aim of Live Well Wakefield Small Grants Fund is to provide
Grants scheme one-off grants for voluntary and community groups working with people to
improve health and wellbeing.
Live Well Step Provision
of
Social
Prescribing
to
support
individuals
working
towards
up/Gateway to employment.
Employment
Live Well Waiting Social Prescribing Link Worker to exclusively support individuals who have
Well been on the admitted elective waiting list at MYHT for 12 months or more.
Live Well Wakefield a referral based social prescribing and supported self-management service,
providing support to adults (18+) who either live in the Wakefield District, or
are registered with a Wakefield GP.
MH Community Mental Health Community Builder post.
Builder

35

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

20 Analysis of movements in restricted funds (cont.) Analysis of movements in restricted funds (cont.)
Name of
restricted fund Description, nature and purposes of the fund
Primary Care Provision of Social Prescribing Link Workers, based in each of the 7 Primary
Network Care Networks.
Prosper Business planning and Capacity Building in the VCSE Sector
SWYPT/VCSE Grant fund to address health inequalities
relationship
Test and Trace Grants to VCSE sector to support free, warm and welcoming spaces to
Engagement – Warm residents in communities across the District.
Spaces
Thinking Differently Pilot project working closely with 5 organisations over 2 years to improve
Development Fund capacity relating to Mental Health Support.
Third Sector To
administer
the
Third
Sector
Framework
which
is
a
fair,
open
and
Framework transparent way of allocating funding to locally rooted Voluntary, Community
and
Social
Enterprise
(VCSE)
organisations
in
Wakefield
District.
The
Framework was launched in January 2021 and is a partnership between Nova
Wakefield District, Wakefield Council, Wakefield District Health and Care
Partnership and Young Lives Consortium. One of the aims of the Framework is
to
achieve
balanced
distribution
of
funding
across
the
district,
and
organisations of all sizes are invited to apply.
Third Sector Raise the profile of VAWG and the wider work of the VRU in reducing serious
Support/VRU violent crime across the sector. 2. Support the teams in their collaboration,
engagement and communications across the sector including co-production. 3.
Support specific engagement around further Mayoral strategies which also
include serious and violent crime. 4. Support the alignment of district-based
needs
assessments
including
the
VRU
response
strategy,
supporting
conferences and other organised consultations or events. 5. Act as a conduit to
support better working relationships between the teams and the third sector –
sharing
good
practice
with
them
and
other
district
networks,
including
highlighting any gaps. 6. Where possible engage with organisations who fit
with the teams’ aims and objectives to provide support with sustainability: •
Help find funding opportunities • Support with applications for grant rounds
such as MSCF and VRU grants • Share resources • Share contacts • Share
training opportunities 7. Promote the cross-cutting themes in the police and
crime plan including Early intervention and prevention and Equality, Diversity,
and Inclusion. 8. Ensure the network is represented at the third Sector
Advisory group to update on their work and progress. 9. In consultation with
the teams agree an additional objective/outcome which supports added value
and allows the network to fill any gaps in their own work in support of this
grant
Wakefield support
NOVA
with
the
alignment
of
volunteering
opportunities
and
Partnership People programmes available within the Wakefield District
Plan
Warwick Ahead Warwick Ahead is a community led Partnership funded through the Big Local
Programme on the Warwick Estate in Knottingley. The overall purpose is to
develop a thriving community by establishing a vision with the community to
address issues they identify and record how they would like the area to look
and feel in the future. The Partnership is developing community plans covering
10 years, acting as a catalyst to build community involvement, developing the
skills of local people to tackle problems, creating change by involving local
people, agreeing priorities, making decisions and being accountable with
support from local organisations.
Warwick Connect initial set up and implementation of an IT café to provide a safe space for
Café youths to learn, catch up on homework, stay safe on internet etc
Warwick Craft Group A weekly craft group for residents of the Warwick estate hosting a series of
monthly taught craft sessions on different topics taught by professionals. In
addition facilitated family sessions in school holidays (Christmas 2022 and Feb
2023)
Warwick Digital grant to address social exclusion throughdigital awareness raising through crafting
Inclusion aimed at local people who are residents from the Warwick Estate and surrounding area.
WMDC Core grant to provide Infrastructure support to the VCSE sector in Wakefield District
through the provision of a wide range of services.

Transfers out have been made to fund work that is covered by the original agreement or where the funder has agreed that it can be utilised elsewhere.

36

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

21 Analysis of movement in unrestricted funds

Current reporting
period
General fund
Previous reporting
period
General fund		 Balance at
1 April
2022
£
457,853
457,853
Balance at
1 April
2021
£
391,418
391,418
 Income
£
62,821
62,821
Income
£
448,222
448,222		 Expenditure
£
(26,382)
(26,382)
Expenditure
£
(381,787)
(381,787)		 Transfers
£
179,955
179,955
Transfers
£
-
-		 As at 31
March 2023
£
674,247
674,247
As at 31
March 2022
£
457,853
457,853

Name of unrestricted fund Description, nature and purposes of the fund

General fund The free reserves after allowing for all designated funds

37

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

22 Analysis of net assets between funds

Current reporting period
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Total
Previous reporting period
Tangible fixed assets
Fixed asset investments
Net current assets/(liabilities)
Total		 General
fund
£
100,000
300,000
274,247
674,247
General
fund
£
102,500
-
355,353
457,853		 Designated
funds
£
-
-
-
Designated
funds
£
-
-
-		 Restricted
funds
£
-
1,022,332
1,022,332
Restricted
funds
£
-
1,112,095
1,112,095		 Total
£
100,000
300,000
1,296,579
1,696,579
Total
£
102,500
-
1,467,448
1,569,948

38

Nova Wakefield District Limited

Notes to the accounts for the year ended 31 March 2023 (continued)

23 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods:

Property Property Equipment Equipment
2023 2022 2023 2022
£ £ £ £
Less than one year - 12,800 609 609
One to five years - - 1,979 2,588
- 12,800 2,588 3,197
Reconciliation of net movement in funds to net cash flow from operating activities
2,023 2,022
£ £
Net income/(expenditure) for the year 126,631 70,745
Adjustments for:
Depreciation charge 2,500 2,500
Dividends, interest and rents from investments (3,032) (363)
Decrease/(increase) in debtors (68,345) 363,541
Increase/(decrease) in creditors (227,706) 348,843
Net cash provided by/(used in) operating (169,952) 785,266

24 Reconciliation of net movement in funds to net cash flow from operating activities

39

Nova Wakefield District Limited

Statement of Financial Activities

(including Income and Expenditure account)

25 Prior year Statement of Financial Activities

Income from:
Donations and legacies
Charitable activities
Investments
Total income
Expenditure on:
Charitable activities
Total expenditure
Transfer between funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Net movement in funds for
the year
Net income/(expenditure) for
the year
Other
Net income/(expenditure)
before net gains/(losses) on
investments		 Unrestricted
funds
£
200
407,409
40,250
363
448,222
381,787
381,787
66,435
66,435
-
66,435
391,418
457,853		 Restricted
funds
£
-
2,114,809
5,162
-
2,119,971
2,115,661
2,115,661
4,310
4,310
-
4,310
1,107,785
1,112,095		 Total funds
2022
£
200
2,522,218
45,412
363
2,568,193
2,497,448
2,497,448
70,745
70,745
-
70,745
1,499,203
1,569,948		 Total funds
2021
£
200
2,839,784
76,477
728
2,917,189
2,297,998
2,297,998
619,191
619,191
-
619,191
880,012
1,499,203

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

40