COMMUNITIES FIRST WESSEX Company number: 08071971 REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 COMMUPIITIES FIRST WESSEX (Company limibj ￿gu￿￿e8nd n0thaVir￿ asharec¥*an REPORT OF THE DIRECTORSAIIDTRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Chirityr8gl*tfa¢lon nunther.. 1147527 Cornpany rogl*radon numi*r,' e071971 Bu￿r￿S addre86 Levjh Pa￿ Cthimunty Dunsbury Way Lttjh Pa H¥wl pog $8G A￿1￿•￿& R•11$thr￿ officg4dkni Crithr Slath)n HDuse NDth SbB8t 14v8nl P09 1fJJ kers Ll0yds￿k Fic Street Dlrnclor81Tnth dU￿nythIyèlr•nd ¢o¢*¢ VIfrn￿ dunng theyevi, R85wn&J 31 July 2Q24 Resgn¢d 1 Apri12023 Mc8Ch*rdurtng yeèrlAppdnM Ctsir31 Juty20241 Re￿gned24 Novwnber2023 Tmr BtLe Jthnrfèr(kn LkJohn Ev Gib50 ai¥8 Graham Paul Kik* Dwd dey na Pullln R884lled 31 Marth ￿24 v￿thr31 July20241 Re*Jr￿￿ 30S8Pt6mb8r 2D24 SDewnbv2023 8Marth 2024 8S8Ptwnbu2023, R&SIJn￿ 15 janu￿2￿24 ntsy 12Septernter2024 "nt•J 12 S418mb8r2024 L¥ntd 12Sert￿l￿[202l Ezlayin￿￿ CL¥e Saw8 SM￿ Ap Q*an Lli ChldLKè¢thel)thcèr COMMUNITIES FIRST WESSEX IComp3ny limitèd by guarantee and not having a share capitsll TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Chairman's Foreword Welcome to this Annual Report of the Trustees and Directors of Communities First Wessex ICFW) for the year ending March 2024 CFW continues to play a key role in developing a thriving voluntary sector across Hampshire, empowering communities, mobilising our members and delivering critical community services to make lrfe better for everyone. CFW has had another solid year, fvrther strengthening and delivering our purpose by securing new income and delivering high-quality servI￿s. We have continued to support individuals. communf(ies and organisations in taC￿Ing the impact of the cost-of-lwing and in developing new $8rvices in the post pandemic wodd. We have also supported partners and organisations providing refuge for those fleeing the war in Ukraine. Our success has resulted in a strong balance sheet. an increase in unrestricted reserves and demonslrable so¢ial impact. Our outstsnding staff team and volunteers continue to support the most vulnerable groups and individuals in our communty making sure that their needs are identlfied and met. The Board recognise the dtfficult future which all charities are entering and have overseen a robust root and branch review of the organisation to make sure we are fit for purpose going forward. The Board continue to dr¢ve the organisation to continue to achieve oui joint vision and to adapt and change to meet the new challenges as they arise. We believe that the organisation supported by the staff and volunteer teams are best placed to lead and support our members and community OTganisations into the futur8. The Board are aware that without the staff team and volunteers CFW would not be the successful organisation Ihal it is. We are in awe of the Commitment and passion that the staff team continue lo bring to their work despite concems about funding. We would like to thank Tim and his staff team for rising to the challenges that the18st year has bought. We would pa￿.Cular[Y like to thank all of those staff and volunteers involved in direct delivery without whom CFVV would not be the high performing organisation that it is. As Chair I would also like to thank all of the current and past Bo8rd members for their commitment to CFW and the time that they give up to support and drive the organisation forward. WithoLrt their tim8, energy and skills we would be a much depleted organisation. CFW would like to thank Hampshire County Council for their support this year and thelr ongoing commitment to supporting some seNices into 2025. We would also like to thank our Borough and District Councils for their support and fijnding as well as the many Parish and Town Councils whom we have interacted with this year. We would also like to extend our thanks to all of our partners across the last year and especially to all of our members for their continuing support of CFW. Together we will go forward into 24125 stronger and committed lo building new partnerships working together to support those in our communities who are mist vulnerable. We are determined to continue lo provide support to our members to generate additional funds to continue to deliver the outstanding support services that they cuffently deliver. Jan L8fl8y- Chairperson COMMUNITIES FIRST WESSEX {Company limited by guarantee And not having a share capital) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Managoment and Govemance Communrties First Wessex ICFW (trading as Community First) is a Registered Charity and Company Limited by Guarantee. The company is governed by its Memorandum and Articles of Association, established in 2012 and amended by special resolution in May 2015, July 2017 and January 2018. CFW was created following the merger of 5 distrid CVSS operating 81 scale wÈth central management and govemance, whilst retaining local teams and services embedded in and reflecting the needs of the communities we serve. We are continuing this strategy by merging th Gosport Voluntary Action in October 2024 and by delivering support to organisations in Eastleigh under contract with Eastleigh Borough Council from April 2024 Board of Diroctors and Senlor Management The Trustees of the Charity are Directors of the Company. They are responsible for setting the strategy of CFW, ensuring effective financial stewardship and goveman¢e. An Executive Committee meels monthly to support the main board, ensuring we have the resources, staff and capacity to deliver the strategy and meet our financial targets. Task-specffic groups are cr8ated when required. The Senior Leadership Team comprising the Chief Executive. Chief Operating Officer and Finance Director is responsible for the day-to-day management of the organisation, partnership and programme development and service delivery. The structure and priorities of the Senior Leadership Team are regularly reviewed by the Board of Directors taking account of future funding requirements and changes. Recrulting and Supporting Directors We draw on the skills and experience of existing Directors matching these to the needs and activities of the business set out in our strategy Skill gaps are identified by the EXec￿1ve Committee 2nd actions to address these are agreed by the board. Nominations are invited throughout the year through open adverts alongside contact with members, partners and individuals with the requisite skills and experience and we advertise through local ne￿OrkS, contacts and companies. We are mindful of the need to ensure a diverse t￿ard reflecting the communities with which we work and the groups we support. Directors are provided with background information about the organisation, our work and values and the wider role of serving as a charity Trustee using the Charity Commission's recommended guidance. Directors are offered training and encouraged to attend events and meet stsff and volunteers to gain a good understanding of some of the challenges and opportunities we face We have recruited new Directors during 2023124 and will continue to do so during 24125 to repla￿ those who have retired and to ensurè we have the necessary skills and expertise to deliver our objectives. Aims, Objectives, Activities and Achievements The Charity's objects are: a) to promote any charitable purposes for the benefft of the public in Hampshire and surrounding areas, including the advancement of education, the protection of heath COMMUNITIES FIRST WESSEX (Company limited by guarantee and not having a share capital) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 and the relief of poverty, distress and sickness, and to provide people with the necessary support, information and services to enable them to pursue or contribute to charitable purposes. b) to promote, organise and facilitate co-operation and parinership working belween third sector, statLrtory and other relevant bodies in Hampshire and its environs. Dellverlng publi¢ beneflt Communities First Wessex (CFW supports a thriving, active and influential voluntary sector across Hampshire and surrounding areas, through our leadership of the Hampshire CVS neiwork and direct delivery in East Hampshire, Havant, Winchester, Fareham, Eastleigh, Gosport and the New Forest. We also deliver transport services in Basingstoke & Deane and Gosport and traum&informed and sexual abuse counselling throughout north and mid Hampshire. Our Health and Wellbeing and Social Prescribing networks provide countywide support to all organisations supporting p8op18 in need. As a membership organisation we believe that we are stronger by working tO3ether. We've conlinued to grow our membership, holding Suc￿$$fUl network events throughout the year and providing effective digital self-seNe toolkits and resources enabling us to offer more and tter support to local VCSE organisations. Our performance and achievements in 2023124 Directly supported and engaged 660 VCSE organisalions In September 2023 we merged wlth Wheels For Freedom. a charty providing mobilty services in Dorset and based in Poole. This fvrther enhanced our Shopmobility offer. Recruited and mobilised an additional 448 volunteers and 130 young volunteers. and engaged 350 clients on our Positive Pathways supported volunteering programme. 196 new organisations signed up to our Volunteering programme reflecting the appetite and demand for more volunteers We also delivered 2,027 hours of volunteer time on our Timebank inf(iative based in Woolmer Forest, Bordon in East Hampshire. Secured £434,000 of additional investment in VCSE organisations. Trained 1,950 learners including upskills volunteers and paid stsff in VCSE sector and supporting those facing barriers to em￿OyMent. Carried 49,900 passengers on our community transport, 64,400 school passengers on 3.500 school bus joumeys, and 23 hirers benefitted from our Wheels to Work moped hires. Our mobilty scooteTS were hired 3,500 times from our shopmobility locations and from events including Goodwood and the New Forest Show. Had 82.000 visits to our ComrnunTiy Hubs in Clanfield and Leigh Park Supported 175 young carer8 in the New Forest and provided over 15C￿ respite hours through activities Helped 494 victims of sexual trauma and abuse through our START counselling Service. COMMUNITIES FIRST WESSEX (Company limited by guarantee and not having a shar8 CAPitall TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Provided a lifeline to 254 clients of our Home Help service and helped 162 households with gardening. Supported 40 High Intensity Users through our Community support service and delivered 760 healthy walks helping people keep active, stay well and socially connected. Financial Review Revenue grew, and overall financial performance remained strong. We had a total income of £3.720m in 2023124, compared to £3.346m in 22123. The Charity has a deflned salary pension scheme wth Hampshire County Council. The adjustment in the actuarial valuation on our defined salary pension scheme reSU￿ed in a loss (before administration costs) of £1 k12D22123 £629K). HCC now manages our investments in the same way as funds are managed for HCC and other large organSsatlons In the scheme. This Significant￿ reduces the total notional exit liability of Community First from £675k to £1 Ook. Winchester Cty Council and Fareham Borough Council guarantee to underwrite any deficil arising from the pension fund valuation in resped of those members of the scheme previously employed by organi5ations operating in their respective areas. At 31 March 2024, thi5 amountedto approximately£36.6kforWin¢hester and £13.Skfor Fareham. Afull analysis of the pension liability inGluding deferred liabilty, guaranteed underwriting, top up payments and charges and residual material liabilty is sei out In note 18 to the accounts. The charity continues to take appropriate steps to diversfy its funding base. securing further grants and commissions, managing costs and identfying new sour￿5 of income to build on its strengths and track record in public service delivery and to support the voluntary and community sector. We have retained our overall staff team of @ 120 delivering hybrid and flexible working to balance capacty with OPPDrtunity. Income sources Principal sources of funding include-, Infrastructure grant from Hampshire G¢)unty Council with CFW reappointed as single contractecl organisation to delivor infrastructure support for VCSE and encourage volunteering and grants from Havant Borough Council, East Hampshire District Council, Fareham Borough Council, and New Forest District Council. A new VCSE infrastrudure support service started in Eastleigh in April 2024, commissioned by Eastleigh Borough Council. Grant funding from Hampshire and IOW Integrated Care Board to support health & wellbeing forums, the so￿al Prescribing Netsvork and deliver wellbeing programmes tackling health inequalities arsd those in need of additional support. Hampshire County Council contracts supported by the Boroughs and Districts. for Community Transport, Dial-A-Ride. Call and Go and SEN school transport contracts and Vvheels to Work. Further income was generated from fares. Ministry of Justice grant (administered by the Office of Police & Crime Commissioner), and HCC grant for START counselling and Lotus residential service. Hampshire Learns funding (via HCC) for training with an increasè in value and number of Lots delivered. Grants from Winchester Gty Council, Fareham Borough Council & Chich8Ster District Council and hire income from custOlT18fs and events for Shopmobilify. COMMUNITIES FIRSTWESSEX Icompany limited by guaianlee and not having a share capital) TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The National Lottery Community Fund for Positive Pathways in Havant and to support Time Banking in Woolmer Forest and to deliver the final year of our Youth Volunteering Programme. The Lottery and grant funding from HCC also supported our New Forest Young Carers programme. We received a leg2¢y donation from Its Your Choice following their closure and subsequent winding upto support Young People in the New Forest. Following mergerwith Wheels For Freedom we re￿iVed a donation of cash and assets of £78K and took on a further lottery grant funded programme and other grants Reserves The Board of Directors has determined that the Charity should seek to maintain a level of reserves to cover the following eventualities- Unrestricted reserves equivalent to up to 6 months of plsnned running costs in line with Charty Commission guidelines and Company Law. A designated reserve was created to cover unforeseen events and the possibility that funding might not a￿ayS be obtained. The calculation ofthis reserve considers Six months support servI￿s, running costs Outslanding rent commitments (up to break clause dates) Outslanding lease and hire commitments to end of contract Provision for legal costs Provision for property dilapidations The Purpose of designating rese￿eS is to o cover any loss on realisation of any fixed assets and any additional contractual o accumulate funds for specific purposes as detemiined by the Board of Trustees from time to time. o invest in innovative services which can be piloted and tested to better meet the needs of our beneficiaries including vulnerable people by the creation of the Community First Investment Fund. The aim of such enterprises and innovative services is to reduce the charity's dependence on publi¢ sector funding by finding more reliable SoUr￿S of funding for its seNices. Restricted reserves are held to cover the extent that funds for restricted purposes have not been fully expended. No additional reserves will be established for restricted projects. This policy enables CFW to continue operations whilst awaiting receipt of Grants rnany of which are paid in arrears, to pay contractual liabilities in the event that grants are discontinued or significantly reduced whilst services are realigned and to recover the potential loss on fixed asset investments in the event that funding is thdravm, or contracts ended prematurely. A provision will be maintained against general reserves to offset the Charity's obligation to fund any deficit on the Hampshire County Council pension hjnd scheme. This provision will be reviewed and if necessary revised annually in line with the Actuarial valuation. At 31 March 2024 we have £1,258,176 in unrestricted reserves. £31,858 of this is designated to support the development of on-going activities (see note 15). A reseNe of £500.000 has been Created to cover any unforeseen evenls as well as the possibility that funding tnight not a￿ayS be obtained and ensure continuty of our core function and services for at least 3 mnths. The Community First Investment Fund has £PA1,318 to help us to aC￿sS new funding and income streams and pump prime innovative ideas for new services for our beneficiaries. COMMUNITIES FIRST WESSEX Icompany limf(ed by guarantee and not havin9 a share capital) TRUSTEES REPORT FOR THE YE4R ENDED 31 MARCH 2024 The level of reserves and the policy is reviewed annually. In addition, and independent of reserves, accruals will be established at the end of each year and reviewed quarterfy thereafter, to cover any expenses that can reasonably be estimated, such as sickness pay, insurance claim excesses, equipment and seNices received but not invoiced. Managing Risk A Risk Register identrfies the key risks and records actions taken to mitigate these which is reviewed by Directors and the Senior Leadèrship Team. Where appropriate, systems or procedu￿$ have been established to mitigate the risks the charity faces. Our slgnlflcant rlsks We face significant on-going risk to our revenues which are predominantly from public sector contracts and grants, principally HCC, which are subject to future public sector spending cuts and threats to the overall public finan￿ position as costs of delivering statutory social care and children's services increase and global economic uncertainty prevails. Expenditure remains under close s¢ruliny as local authority grants and commissioned services are subject to signtficant cuts in 2025 in Community Transport and Community Development resuming in less money at 2 time when demand for our services and requests for support from our members is increasing. We are reducing our reliance on core grants and diversifying our activities to attract new SoUr￿S of income. We are also cutting costs and adjusting staffing levels and office costs accordingty. We continue to explore opportunities to further increase scale, impact and generate revenues, through partnership working, Collaboration and possible mergers. We are also exploring new opportunitres for gen8rating sales and raising revenue by expanding our transport, diversifying our training and growing wellbeing services whioh are in high demand. As public sector funding continues to diminish more customerlbeneficiaries may be asked to pay towards services, but we are also seeking opportunities to maximise our assets and expertise to generat8 income which can be reinvested in essential communty support and services. We malntaln strlct intemal controls and procedures for authorising transactions and payments which reduce financial risks and minimise risk of fraud. Only authorised signatories can sign or commil the organisation to enter into grant agreements, make payments and contractual or other liabilities. We review ourfinancial procedures annually to ensure that authorisation levels remain appropriate and robust and work closely with our bank to minimise risk of fraud We deliver services to vulnerable people induding those who are ehyerly, frail. disabEed, suffer mental illness or abuse or lack confidence and to young people from a wide range of backgrounds. Protecting and safeguarding those Ytho are vulnerable remains a high priorty- Our high risk services include., Transport.. risk of road traffic collisions 8r)d in assisting frail and disabled passengers on and off vehicles and in hiring Mopeds {Wheels to Work) and mobility scooters Supported Volunteerlng providing social connections, volunteering, work experience and support for people with mental illness and other health conditions. including those with a history of substance misuse and ex-offenders, helping them rebuild their confidence and oontribute to society. START providing specialist support for survivors of childhood sexual abuse or re￿nI sexual violence and trauma Young C8rers', providing support for young people in loo￿ng afterfamity members wth long-term conditions COMMUNITIES FIRST WESSEX (Company limitèd by guaranlee and not having a share capilall TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Home Help$', helping older and dlsabl8d people to stay safe and well in thelr own homes Clanfield Sports Centre: helping people participate in spo￿ng and leisure activities We invest in and provide wellbeing support to staff, offer famity-friendly employment contracts and policies and have ernbedded hybrid working which has flexibilÈly to balance staff and organisational priorities. We continue to invest in staff training, ensuring compliance with health and safety and safe operating procedures. Procedures are in place and are reviewed regularly to protect our staff, volunteers and service users. Lessons learnt are shared with commissioners and partners and are used to amend procedures to provide a safe and enjoyable experien￿ for Se￿1￿ users, staff and volunleers. Dlrectors, rfrsponslbllltles Law applicable to charitable companies in England & Wales requires the directors to prepare th8 Iruslees report and financial statements for each financial year, which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing those financial statements, the dSrectors are required to: Select suitable accounting policies and then apply them consistently-, Make judgements and estimates that are reasonable and prudent-, Prepare the financial statements on the going Con￿rn basis unless it is inappropriat8 to presume that the company will continue in business. The directors are responsible for keeping proper a￿oUntIng records which disclose with reasonable accuracy al any time the financial position of the company and to enable them to ensure that the financial ststements comply with the Companies Act 2006 and the Charities Act 2011. They are also responsible for safeguarding the assets of the company and hen for taking reasonable steps for the prevention and deteclion of fraud and other irregularities. There is no relevant eudit InfO￿atIOn of which the company's auditors are unaware.. 8nd The directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomialion and to estsblish that the auditors are aware of the inforrnation. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. A combined directors and trustees r8PQrt is being presented to meet company law requirements. Approved by the Board and signed on its behalf by.. Jan Lefley Date.. 30 September 2024 Chair of Board of Directors COMMUNITIES FIRST ￿E$sEx (comp￿Y11￿ bywaiantee 8nOnothwry ashare capWI INDEPENDENT AUDrroRS' REPORT TO THE IIEMBERS OF COMMUNrriES FIRST WESSEX FOR THE YEAR ENDED 31 MARCH 2024 Oplnlo We have fift￿￿al Df C￿m￿r￿h.es Ftrsl Wcs8ex for Ihe y88r end￿ 31 Marf* 2024 comprf8e the St*em￿l ol F￿￿21 Ath￿88. Stabnthi of Cash FkM the rel￿￿ not8s, Indu¢ffjng a swnm*y tsfsPJnl￿taTht *¢ounllry pc4ldas. Theffinancll rwing thai has be￿ thei applK*Ig IèN *n¢ AGownthng Stth3rts (Unitsd Gww4lly Awted Acc￿￿￿9 P(th'rE51 induding FRS102,'The FinaTrual Rry(Kb'ng Standa￿j aFplirAbleinthe UKand R2put￿l￿Of Ire￿nd.. glvealruaand f*.rvMvolthesi*oflh8thalt￿?t0rn￿lS affsi￿a&St3l March ￿24, andof(tsIncom6￿d &¥penditur&, forthe yearts bgen properlyww In3￿r￿d￿ wlh imited Kingth Accepted A￿0￿￿n9 ￿bL¥., 8nd hwe W prep¥ed In ￿)￿danc&￿th Ihe requirements Dlble Cunpank8ALt 2Lk)6 B15isforq>ln Wtr haw wnducted our audit in wdonté In1w*￿al stsnd¥l$ ￿ Authting (UKI,IISAslUK)1 ond *Aic81I0 *. (￿r lÈspw￿b￿1t￿ undv th(be St&l￿d￿ ¥e fvrther lescthd In the A￿rtOrf5 resp￿￿￿￿1￿￿ frf the of the finanoal Stat￿15 5ectirffl ol wr We are Ind￿e￿￿ent ol the chan￿le¢0mp￿yI￿ ￿￿[￿¢￿vIrth theethKI r￿Ul￿eMents that 8relek￿to0ui￿1lit0lth0fi￿￿Ci￿ ststements ID the UK. induding the FRCS £￿¢￿1 St8wJaid. a￿￿&ha￿e fvINl8d ￿rOther thical ￿p￿$billI1&S in atsyJrdance*ith iF*e requir8mwt8. We thatlh&auditewLknce*e h8wob&n8d sJ[fK%n1￿d￿WL*to prO￿dea bas￿ frAouropnirm. con¢1￿10￿¥￿1$lnyItsg0lrKJ ¢orvm In audung the fin8noA statemwK hw that trusises, us9 ol fy)rw) bat4$ in the of th8 tln•kial StsIÈm￿lts isWUPtMte. Based th thework have pthnlled, wethav2n0lwjE￿If￿d any unc&kinbe5 rdabng ID ￿ ur{￿ditiOnS thaL I￿1￿ual￿ ￿(￿lIe￿¥*IY, may caÈt on the COM￿y% abdlty to ¢Onbnué ¥ 8 g(ing for a pet￿1 of at18&%t t¥Jth mmths fityn when the fin￿ ¥e•Jtyuised fori%sue r [88pon￿lft188 th0￿p(￿￿bl￿¢S WF*¢t￿9(Ary m4rn*¥d¢sthlt¢d In th8rdW¥lseLthnS￿thkrepo Olh•rinfomiJbon Th¢ ther infomalots (KmsNi5es infwmaboD in￿ded in tre annwl reprt •KJ our thw. Thg trus￿ &e reWsIb￿ ￿the Dth¥inf￿￿Bti(￿ on thefinanda st3Eem2ntsths nDtco¥erthedherknfumth)n, uxWtotsExtenlothEW5 2Xtthity sued ￿ ouriewrt W9 donDtexpre558ny [(rn0f￿￿ra￿C8 cfyidusb)n ther￿ In aL*Jit oui ￿$￿SIbIlity Is lo ie&l thè olh81 Infom￿1￿ ￿d. In dthg so. *heth8r tho Informth rnth81 Incow￿l8￿1￿mfv th& lnanthlsta18m&*s w Lwrkntr*kdge Oblan￿ in th8 ￿0th￿￿1568Pp?8￿ lob8 n￿￿¥JIYMisSI3t8d. Il*e idmdfy SULth Inc0￿￿ten￿eS. we ale reoired 10 determthe %*ether ther6 Is a m*stat&neni kn the fin8nul Siatsmwts w 8 mat￿￿ rnisStatem￿l of the atton. If, ba*J M thgwork haye kthmed. ￿￿¢l￿d￿th￿thtre ts a m*e(k4 oflhts lThbMpl￿Th, ws ¥e rery1r￿ to rwrt ihaifoct We ha%% nclHrvJ torwrt *?thi5 reg¥d Oplnlon on Othgr Mate¥s prÈ$tribÈd byth•cty￿P8nrts A¢1 2006 In (￿1 opinh)n, tsa¥￿ ￿ thovA%kund￿kts in ihecwTseoflheauthi th8 knfLYmalcn In tt18 P4XThtoI￿&INSt88Sts￿6 thaffftanoa 81atell￿￿e 1st￿￿$1&*￿71h the the R￿p￿DI￿￿TtUst￿s has bwyepatgl ITh￿)￿d￿ce wikn wplc4Jle Matterd oTrwhlchwo aro requlredtorewt ty•xt8ption IDthel¥Jhtofihp knvwledge ￿d￿nd￿s￿￿lfiDg ofthfrtha1th￿mp4Trywd Its In theCOu￿ Llth85udK *Eh￿e m*01 In theR8poriofthB TNste65. COMMUNThIES FIRSTWESSEX lcL4np￿YI￿n￿F￿l by9uwlee￿¢ nothaxng ash8r£ C￿￿) INDEPENDENT AUDITORS, REPORT TOTHE MEMBERS OF COMMUN￿lEs FIRST WESSEX FOR THE YEAR ENDED 31 MARCH 2024 Wehave nclhkng to reputln ￿5P￿t0[￿efdkNIryJ mattsrswh¥eth&Ctynp•les Aci%xK rèqulrès u8ior8POrtto yoj If, In Wro￿n￿n.. a@uate ￿lln￿￿j retoftts hav8 nclb88n Wtor 18bJms *J8quai8 SJrour8udll h8v&nolt48ll branthe5 no1v￿lI￿ by us,. LY the financk4 s18t8m8ntswe nclin ¥gre￿t￿1th th¥ &¢wning réwds &d rthJm8,'¢ Cérrin dIS(kn￿ dfbUSithS'fEmunwèlffl£p8dfied bylw*are nclmath,. *EhavÈTh)t 18cdwJ al the Irthm9ti￿ e¥knahon5we wrirefor¢>JraxlL the*usie&s￿ nOt￿l￿to￿k2￿￿t￿jEoftheS￿￿1 tr￿￿the￿I[￿8￿tto aStrtykRewt the R8IXYlofth&Tru$ Rt8PWsibllttks ￿llUSI wwned fulty In of TN$iee5' RespM?A￿thes, thelTUStees Iwho 31glso the threclLKs olthe th*itknie CoM￿Y for the pu[PO5￿ of cmwy L**} ar8 ￿[￿Sib￿ fu prepara￿n cl ihe fln8nd* slstemts for 58ti5fied Ihat they gr￿ a Iw* and fair vw. and Ini8m contrd 8s the trL&$i￿1dern￿eiSn8r*￿ry to 8n*A8thopryratloTrollnandd stateM￿tsthal￿etr￿fr0rn rni551atewEnL prep8nrytheffinancid sIat￿ts.theb7JSteeg8re￿sp￿￿bI￿ftyasSes5￿9 ih8thféab￿￿￿￿*5Bb1tytO ￿rKEt￿, dtsdosiry. as aFvlkaU4 mait8rs relaied lo golrKJ concem and u￿g ihe gcthg of 4w)unbry unles5 the in￿d to liqi*Yate thB tharftthle ￿m￿Y￿t￿t￿O(￿s]￿￿8, crh&ènor6aL8UcatemaO¥8 butto thJ80. Jr we to obtw a55ui8nce thl whethBrthe financd sL4thents as a are free mateT&4 miÉststÈtnenl, *th8th8rdue to tra￿1 ￿ erN. to *5ue a ReF¥Jiol 1ndWEnd￿I￿dil￿s lhal1nd￿eS Reason&)18 assur￿[8 rs a h¥h ul assumce, t4rtis nota gu￿1￿&￿at aTrwdlt)Jndwt•Y In aCcuthC8￿kn ISA5 (UK)￿11 a￿ayS ￿e￿la M￿￿181 M￿Stste1￿1￿￿￿ it ewts M¢str￿ents ean 8ri8e from ta L¥ etrj al hist￿¢81 rx*tor tbl Incomv Al in(￿1￿9 rewurGes ere in tho &*mEnl of A¢b￿b&S ￿ th8 tharfty18 enUtl8d lo th& Inc￿? and N Is prcthble thai the ttonomK bgnefits chaity aNd￿e8T￿￿￿t ￿ be qUantiffi￿ I8￿c￿￿1e ar￿[3￿. sp8tsfitOiri&s *&ÉWl￿ to paTttttj1*c8t￿￿Os rlin¢(xw. Inwrnè IÈ ree8iv¥l by way ol grants, thabMS, ky*iÈs and grfts and is induded kn ITr the Stalem￿1 of Fin8naa kti¥iti85 r￿MEt￿e. Grants, *tthi etsiiuem￿t ts Mt on the dsfv8ry of 8 $￿tsfi¢ p¢rfmanc8 by thè ¥è rectrJnts8d *h8n Ihe charfty b8wm85 urrtond1b.ondw￿ts1￿jI0 th8 giant Inves￿1 inrxyne ￿ indudeOvJkn ￿e4¥ab￿. IKomlryr880ur(A%from 6xg8n8raUngfund8, Indudl￿ tssefrom atr￿lry Subs￿lary, we ￿K￿nted fOrWh￿ e RewJrc85¥8d8f8rr8d wh￿, atthe 8nd of£n perfod, theyhwe been re￿ved buithe thaity hasyetto unund1tic￿￿Wbvedl0 them. IncMelrom the supp1yolsw￿c8￿ Irom contr&* ts recrynls8d Ythh thedthryolfhecontr&*d S￿￿e. thtrauq￿rffle￿ rec￿n￿e￿ on thèbas uf the b"fftE spent in wovidiw thE Se￿Ce Dfthe tim tri￿ the ¢￿tr*I. wth8￿ InDJme L8 18c*¥ed In Vne cl E¥pendhurn l￿dit￿re 1$ re￿N5¢d ¥L¥ua5 b￿.5 a5 8 lablty k ￿elUdeS VAT cannot réco￿￿, ￿dIS r2p0￿j as part to Ilrdat Costs Dfgèrwadw hthd$tomprèeofthe¢ostsassodaWwK* atr&t*Lg th&crtstsOflu￿ra$ty. ch￿18￿¢ ¢W￿dUre comprises ofihosec05ts irKvired tyy thti*arity in th& ddi¥w Of￿ atd b81￿￿￿68.11 ]￿ud85 f cOststlatc￿ tr¢ al￿￿ated￿lreCIyt05U¢h ￿lIeS￿nd those Go$15 lnd1rec4n￿renKt$wY1O supwtuwm. GoYe[nan￿ cu5ts Indudp those c￿ts a55wèbd with the ond ofl* (*arity a￿1 i￿]lth aL￿11 f888 thecDsts lirtbjto iheSirat￿I¢rna￿ayeM￿tof ￿eCharIty. Al l￿ts JrealhKth between the eXP￿￿rtUre¢?Ieg￿￿5 oflhe Stabnont¢lF*iwAI ab8￿￿￿9￿&1{0r81￿IIh&￿s6 ofthe rts￿ree. Ci*ts a palcuknwJi¥ty are￿￿tal￿d Id) TangitrAfy Fixed assets Fixed ￿Sets WE stsied in thebakn* theet£4 coslk55 deprgithD. FrABd o55gts We￿%￿lS￿fOr whaethe inthThdua coslof ￿&aSSet8￿CeedS£l0OO. oep[eaab￿ E pnwd*1 $0 ¥towti*dfthB p￿t01th9 a55ds. less tr*ii val￿, lnStahm￿ts owthe u89fv1 cl the ￿. althefdl{￿llg rat85'. l*dmachin8ry F1th￿, filb￿S and qulpmeni ￿￿Ing8 25% I81L￿ng ba 33% redLKing b￿an(0 IXwth&wrknd ofthel8a88 14 COmfMJN￿lEs FIRST YIESSEX IC¥M￿yk￿lled bygll￿teea￿d noth*ty ashare captta NOTES TOTHE ACCOUNTS FOR TKE YEAR ENDED 31 MARCH 2024 Iconllnuedl lel A$59tlnvestments Fix)J ￿eti￿VeStr￿eDts we ￿￿￿*Ma￿d¥8￿estt￿8bI8r￿e Sheddae. Rethed gan5￿j105%e5 thffe￿ce pro¢egd6 andthelrMaiketYa￿eatIhe5tartofth¥rY￿(rthgr$Vb￿llBll(C05ta￿d arethagedu Nj1￿ ioih8 Sta￿￿10f FlnaM8IAcUvit168in thepwX￿0ld￿W5•1. Unte*ed w5 1osse5rw¢s￿ttha mov*n￿l In m2rketv8h￿ arecreditedor[thary￿ 10t￿ StraBMentrfF￿￿￿￿￿tiV￿leS bmlty) 8tlh6yearMd. lfj Stoc Skn* 15 81the1￿le[OfCosI￿￿l￿l￿èV￿￿8aft8rdU•r8gWd cthC4*￿d*wJffth¥Kj it￿. (gl Rewnttlon of de14ors othwd*tors tWlli5edatthesE￿￿￿18M￿ntd￿0a[￿8nYtr￿j8d13crwn1Off￿*J. atthe a￿￿jnIC18nylrad6 dxomts due. (h) Cash and cash equfvatenis Cath 8￿d￿h equivthts coww5eGuthaibonkand hand, depwL%wtth b￿kS cth8rshcrt4Nrn in¥¢gknwts bank (MERkatts. In thebknce sheE( b8nkoYerdrats¥eshv￿ wlthln t￿MIng5 orvJThenllabilthes. 111 Rwftion Of1￿￿1 Allabiltyafi86S &4 8(th asthwe ￿ a*y￿(l ¢￿strUG￿¥t djl'gabun mmiilrothé th￿tyt0￿&ÈXp8n￿kn[e. lil UTrwtrfctsdfvnd¥ UnresbKbJ fvjndssre rewuice5 ret*iv*Aèorgw)wat8dforthe ob*0fthethaity%thoulfvrt￿S￿tyfied putPD52 ￿ are avaiLgtde ¥wer81fund Ikl Re51rfct£d lund5 R8strkt8d fund5 fundSgrJ￿Ed orthatedfty$pgoffi¢ purpw as ￿ drshm by the grfjJrt￿ or d(¥u from assBts a¥U1r￿ t reskn*J fvnds ￿ reslJtth In the swrbg way a5 the LypJin4 grdnl or dtywfy). ExpwdNur8 %tkh $8t&sfies ihe r￿￿¢1￿5 tts thtr 4wpr18te r8sMC￿ toJèlhu¥¥5th alWr￿￿81rQnQfm￿￿ernenI SUFV)rtcosts. 115 0porn￿￿9 Ren&saFvIKthetooputhy w%¥s¥edwwltothe￿m￿IIK￿n￿c4l￿the3Qyerthe PWK¥J in wbththBcwli5inWtra. Im) D¥fvff£d incthnè 1nKffleBdBferra i$M*yelwiu&lkn thgwoflhera8QUtce& ￿ the prfrconthtions fvu5e 8rernBtkn ihEinrAYne 15 r￿￿Sed. Inl P¢n¥lons Theth8dtyp¥Wpaies In ad6flWj￿bl￿J￿k￿ pan81￿5￿£Me. res￿of￿&t￿p*y,sd&fiAe￿ contribulkn pth 5th￿e ￿￿ tharwl tothpprofil*d Ii*s *c(wttorth6￿lTrth¢h they8repaythe to ih&schN￿ Ll'lfwces ￿n1￿bJ￿(￿5 P8y8ble8nd C￿tr￿ul￿￿5 *u9J￿ pa In thé￿￿eshtrfdn & 61ther*Th￿S Drwepaym￿8tth@y6a1 end. Th8tharily￿¥ow￿dpaI￿skn Thea558tsofth88thw* held man4•d 5epwatetyfrw th(6gofthe ththty. Th&d8ftalon the sthenK. wewtiDg Ihe ihe ofthe scheTne ￿seL5 bdLR¥ thé pr*￿1 Yau8 olthe5theme f￿bIlib.e5 is rWnl$￿ as a Itty b￿ance sheelto the axknl that th8 empw tharity k8 aLAg to [￿0Ve[ a suiplus or ha5 a leg81 rw rthstructive CèWall￿ fcithe1kWity. A pwdiNJ p8nslM re8th1* L8 inthd8d tow Uni8$￿¢t&d Mnds. A prfjM￿n of Ihodefidi that w rdtiting swfirAly tothefomw of nchth Area Cofftffturity is the su￿￿1 of a gu8r8ni88 City Comcil. In th* part rèlalng Spe￿￿¢811Y to the fLYmBr oyte$4f c￿m￿nItyA￿￿ F￿*Th, I$1￿ wWcirlawarantÉ8 from Bwh ￿￿￿1. 15 COMMUN￿lEs FIRSTIAESSEX ICew8nylimiled by0uwantee￿d nolhgmnu ashaie c4itsJl NOTES TOTHE ACC￿111Ts FOR THE YEAR ENDED 31 AIARCH 2024 Icontlnu•dl lol GoiNJ co￿@ Thetruste85 ha¥0 w8par8d, rew*ed 8Dd I0￿11Y tradiw and cash knproiEckn8 I2,￿2,707> 49.KX) 711,134 1132,2841 2.366,125 (2,￿2,7￿) Ponslon r88￿•[￿•t*[Terf r￿n￿on Ilat41Ny£1071,i￿0 Its•wA￿ Tr$srv•£458,OQO, CAF of£166,000 andCFNF reserye of r245,000 and co6tsolEIJQ,LI 324,( ,624 629,( 2,995,126 8a).OCN) 133,000 1,283,709 Tclal unrestrfcted fvnd* 2,301.240 e4thmu￿ty Wi￿1 InNesbneniFund 16 ATr14LYSIS CF NET ASSETS BEfbVEEN FUNDS Unre8trf¢tsd R6*lcted fvnd5 TDTAL 2024 TOTAL 2fj23 Fixed455ets Curr8nla88 LithiSbe5 329,968 1,134,g 2C6.787 1.258.176 45,777 628,829 21&692 457.914 375,745 1,783,825 423.479 1.716,090 270,989 2,512,430 1.1CQ.8¥8 1,682,528 11 DEFINED CoNTRIBUTIC￿ PENSION SCHEME Thecomwy opuat8S ¥defr￿￿ PEn5kn5thEm£. The a552ts olthÈSth￿Theare hekIsepa￿Yfrorn trK>5BofthecoM￿Y1n an adMInts￿l81 fund. The perts1￿ r￿￿Tthi und¥ th$ Sthwne fty 2￿4 wos £4111g12023.. £32,879) Th¥e w 60 in the end{￿23." 691. COIIMUNITIES FIRST WESSEX ICIKllp￿YII￿1I8d bYgu¥￿￿d noth*iw a sh¥*c8Pitall NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 MARCH 2tr24 Iconunuedl 18 tERNEO BENEFIYFENSI(￿ SCXEME The Comwy ¢oniDbutes lo a dpfined bpnefjts scheme Fun by HamFthire County C4Jnca ￿ld1￿ b8ndts based ￿ final W$iotwb￿ pay. Thè asstt0lth2 5th￿e ￿ heklsep¥atdy trom thos8 ofthe C￿np￿Y in an Independentyadmini8te￿ fund. The p￿S￿)n fund iidud¥s rnethr5 brth CthmrnuL¥ty First HEH, WirKhesiwAre3 CommuntyAci￿. l*thich on 1 May20151, CommurityArthDn l%thKth c￿nb1￿8d on 1 Aptl 20181 Cixnrnurlty FYstNewF0restl**ichc￿bln&ty￿ 1 WI 2020 Thethrwredpen8h)nI￿1ItyoFElUo,L￿Indlthd h tha 88￿ct￿eet5t3l 20241s￿vedfr0￿ th8 p￿5￿)￿ 9th￿8,$**Ua￿I reportknthaiy88r. hes18r ijty has to éeffiryl 4D5ing from the thd vauthn In of thctse m8mbws of th8 pmiously by WACA AI 31 2024, Ihis am￿jn￿ to apWmatdy £39,852 lat 31 MaTch 2023 £36,bYJOI. F*th8m Borough CMLJI has gu¥an￿dIjvnts￿￿1e gny defi01￿151￿￿ Iw the p¥￿IL￿ frjnd ¥￿uatk4) th Mp8rtofthos8 mthmbers Dfth8 5theffie prewou5ty by CAF A31 M*ch 2024. ihi5 ￿￿ed￿￿VrO￿rn￿ldy£l3,￿8l. lat 31 Marth 2023£124031. The O￿trib￿lOn5 w8 dwmSnad by a qu81W a¢￿*Y ¢n the basi% of tyiEnrda ￿￿ati￿5 Using the unft mthd. Th8 most I￿1 fvll ValL￿￿t a5 a131 hfjaTtN 2021 bgw upd8W 10 althe bthncesheglthte, The ès5umFiws th8th￿￿ Ihe mostsigniflcanltffeclon th& re5uK4 ol the valuthn are those [￿￿[￿ to the ral2 of r&um ￿ investmwts the rate of increase In salaries p￿￿on$. k w89 as£umd by the aCtUarknthdt￿￿y￿￿ea5￿5¥thldW￿age2.8%￿xYWarI￿lthatIhe preseTrl￿d fijiureF￿￿lNs￿OU1d Incr9￿ atthe raLao12.8% pwyear. Th8 KC PertsKM knility sho￿ kn the Ac￿nL% fs b35d last HCC Pensiw FvThY (the valuthn dabj 31st M8r¢h 2022 and hav& b8w thesumpayalgtothe sch￿0 hadctrxmurty Fit51exited the8thwEatU￿tdgte. The gch8me h88 a tcpup paYm￿ts arrydfNJBfftEtrt ITr pLgce kn vthlth 5th￿e rnembets. IncbJdkn9 ffimur￿ty Fysl, cC￿￿te to ensuie that the sch￿0 becunesfullyfvnded, with(xrtally neediDincurexilllaNSb85. at U*end ofa 22yewpEricd ￿ speciffiedby theNCC￿arth. FkAYever. Communlty Flrsl &xll th&6th8mo e.g. the la51 le4¥85, bBfore the ollhe 22 year pericl. theie be8 ￿du￿ exillSablty, th8 scae ¢fvlith the (uurs ihe extent the t4).up arrang&m￿tr ha%E reduced Ihe outs￿dIr￿ e￿1 ab￿￿85 eyii 8rÈ liBbi1￿05,. HCC ha5 rewJni6ed that rnaiy be ab￿ to afford ￿1 pymenis.whKtht￿k1 0￿￿lÉal￿n$ #llltyto Co￿nUe. re5ulbrffj in thil)5s o1vduablecomrnunty88￿c88. c0n88qu￿ty. HCC has thB basis ￿ whith Inveslmnts we mwje Jsing these (unds. th fvtllre m8n89ir￿ thdr In￿stments in thè 5atne way a5 funds &e m3n￿e￿ tr HCC and other Lqrge org8nlsaOon8 In the $th8m8. Th& Imp&1 ¢hange, basel on w e￿1 a5 al 31 Ilaith 20tt. would b£ ioreduceth&toW 1i8trlltydcommL￿ty F￿$t￿0m£675,￿Q1o£lIYj,l￿, whith beca￿￿5 thE IWofthguyaw5th. Th8 pe￿1￿ L4wgetstheye8rw&s£2728212D23£314321, Thedgfina kneffil sthem9 ￿ ikned to m8mb8rs ?￿j Éo th& prr**d unil mthod tho ￿rr￿t￿l¢*C(*I be to uKrease ov meas n)Bmbersdlhe Sch￿e£ppro￿* rthemeTht )24 023 Vakreofscftemeass*swdll8b Fair¥alueola55ets Pre8eTrt¥￿Ue off￿￿ ￿bIlit*S Pen&on8theme 3.781.￿0 3,881.LhJO 1(￿.(￿)0 3.516,000 3.fJJ8,OUO Se￿￿*?51 Interesttt￿l (21,QWI 4,0 158.0001 19.OUO 12S0001 16,(YX) i.otK) 18.(YJOI (77,rMI 31,￿0 Conblbjkffjs Acthaa11th59s￿9dn5 on &8•ts andK*llltie8 inthe ye PeTrslon 5dwmè #ii Aprfl . WACA 563.( 136,6eAI 112,4031 118,Y51 23,988 I289,￿0) - CFNF - CFHEH 1139.0001 176,000 675,( 92.r SLknedEfrrA"lat31 M¥ch IrN).(D) 23 COMMUN￿lEs FIRST WESSEX {Comp￿ Smited byguarÈntÈÈ noththNJ ashare ¢apitll NOTESTOTHE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2Q24 Icontknuedl 19 RELATED PARTIES NootherrdaE8d p8rtytr•￿K￿5 haveo(¥x¥redotherth￿ thosenoted In th8•>￿j￿L%. CNTROLLINC PARTY TheUl￿n8le ptyrllhe ￿lty tobe theBoaFdQlTrusi8￿. 21 OFEPATING LEASE COMMITiIENTS A8at31 M8rth 2024 the ¢hWityh￿￿lureffwnlrnurn le￿p¥￿ts undw nOn<￿C￿l8bl￿￿Fatinll knE5 rd(Ms,' bng leases￿*h wlrv. Lar￿ and bulldlr 2024 20YJ 2023 thin1ye 2 to5y&8 34.Y8 33,981 89,178 85,988 85,772 19,800 16.500 Wthln th9SthmwtclAn8nd81Athfj88aÈ &XPthSÈS t(4alliny£1￿.613 rdab.ng t00w￿￿9 W8s t2023£11&2951 CAPITALC(MIITMENTS As#31 ￿24 the companydkl nDlha¥6*y¢apital ¢ommthMts12Qf8£24,57n 23 POST BALANCE STrEETEVETr (kn IstWemb8r2024 the thpWy5t￿ed an a]r￿eThI10 m8DJ8 wlth anon IncwF*Bd thaity b￿ed iTrG05puLHanp5h"re £f[￿tivE 15tOctc&er 2024. RECONCILL4TIQY4 OFNET MOvE￿NT IN FUkl)S70 NETCASH FLOWFROM C￿ER￿nNG ACTMTIES 2024 2023 NEtmovem8nllnfun A¢￿baCkdap￿at￿M chas Aldprofft ￿ thsp0sa1olfflx￿ IGthylwlon ￿Yes￿￿￿ Dthcllnter88lIr￿m8¥thL￿N in i￿0$￿￿ Inuw8 ￿ slock Deuesse￿Inc[ea381ln d81A( Intyeasellde(xe&el in uedfftoTS MO￿l8n11n N8t¢•th 33, 51,517 43.093 113,W81 110,0521 6,9 (2,4021 12,1541 82.583 1585,4141 8.000 434,981 29,M7 583.0 409.314 24 COMMUNITIES FIRST WESSEX ICtthp*y limited byguar8ntee not hdying aSh￿e¢aptta NOTES TO THEACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Icontlnuedl 25 COMP￿lAT￿E STATEMElf QF FINAIKIALACTMTIES STATEMENT OF F5NANCIAL ACTNITIES FOR THEYEAR ENDED 31 MARCH 2023 InctAY*8ndEwd*JreAcwJni) Unr6Strfcted Restrlct funds bJnd8 Totsl 2023 2022 ITrLo Lhjnakns ￿1￿)8￿9$ 1nveskn￿t Irtsxm6 Tiading InC0￿e KI1$th￿Ie￿Jsin￿e 18.072 2,350 1&312 52 118,517 95 2,402 22,410 22,410 19,815 ChariWAeactMlk%s Granis & contr F¥$ revenue Rantsllnctrn Other￿￿8 1,731.030 161,392 174,5Q4 256,367 933,&28 1664.658 161,392 193,507 26&771 2,810,227 I30,￿& 19.003 12,404 274,529 TQTAL IPKOME 2,366,125 9￿.400 3.346.525 3,324.637 EXPENOWLIIE ch￿I￿leac1￿ll8B 2,2g4,246 g67,L 3261,251 Obl9abon ￿ futrd C4Anm￿tyFtstN￿￿ F(KOSE pens￿ li8trAltyeXp￿8ed TOTAL EXFENDrruRE 2.294,246 ,rth 3,261,251 3.111921 Netlknsse8ygaln8on In¥e6tm8nts 16,9341 16.9341 6,047 NET INCOMEqEYPENDITUREI BEFOftETPANSFERS 18, 78,280 217,763 TRANSFERS SEtWEEN FUNDS 14,f5 Au#rf￿(Io$s¢lV91Irrf6 on Wned bBnefApen51onfundB 18 629.( 457,￿0 NEf INCOMEIEYFENDITUREIFOR THE YEAR W8,885 13,395 707.280 674.764 FUND BALANCES BROiIGHT FORWARD 589,824 385,422 975.246 F114D 8AIIXESCARRIEDFORWARD 1,283,70Y 398,817 1,682.526 975,246 Th8$t*mt(rf￿￿ci￿ xiviWindudeB aDgans8nd Ic&s&% wpJn188d In theyew. Al 8xpe￿I￿r8d￿(N8s1r0b c(mbnulng 25