Company no. 3918210 Charity no. 1148403 

## **Voscur Limited Report and Audited Financial Statements 31 March 2021** 

**Serving the VCSE sector in Bristol since 1995** 



## **Voscur Limited** 

## **Reference and administrative details** 

## **For the year ended 31 March 2021** 

**Company number** 3918210 **Charity number** 1148403 **Registered office and** Royal Oak House **operational address** Royal Oak Avenue Bristol BS1 4GB **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: **Honorary officers** Lin Whitfield Chair Matthew Wortley Treasurer Kamaljit Poonia Vice-chair **Other trustees** Ellie Collier Christoper Egitto Appointed 26 November 2020 Joanna Holmes Resigned 26 November 2020 Sian Jones Thanh Quan-Nicholls Appointed 26 November 2020 Diane Robinson Vita Terry Appointed 26 November 2020 Samantha Thomson **Chief executive officer and** Sandra Meadows **company secretary Bankers** Lloyds Bank plc 282/4 Wells Road Knowle Bristol BS4 2PY **Auditors** Godfrey Wilson Limited Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

## **Introduction** 

Voscur Limited (Voscur) is the key support and development agency for Bristol’s voluntary, community and social enterprise sector. A modern and dynamic Council for Voluntary Service (CVS) and a charity dedicated to serving Bristol’s social economy. 

Our charitable objectives, work and programmes are targeted at improving the quality of life of individuals and local communities by enabling and strengthening the local organisations that serve them. For the past 25 years, we have worked with Voluntary, Community and Social Enterprise organisations to help them learn, influence policy and strategy, secure funding and other resources and collaborate with others. Our support, information and other services are targeted to help our members and the wider sector deliver impactful, front-line services across a range of neighbourhoods and communities. 

The year 2020-21 was one of continuing challenges in terms of environmental, economic and social growth, with ongoing uncertainty as a result of the recovery from Covid19, Brexit and climate change. During this period, and particularly in relation to the Covid19 global pandemic, Voscur played a pivotal role in convening, co-ordinating, supporting and informing the sector, our partners and stakeholders as part of Bristol’s Covid19 emergency response. This has led to new collaboration and partnerships with key agencies such as the NHS, Bath, North Somerset & South Glos. (BNSSG) Clinical Commissioning Group, Public Health and Adult Social Care, which will be further strengthened and developed as the sector and city recovers from the impact of the pandemic. 

We are pleased to report that during the year Voscur maintained all services and enjoyed the continued commitment of its members and the wider sector, as well as the trust of its main funder Bristol City Council, the Elected Mayor and Deputy Mayor for Communities and a number of new commissioners and grant funders such as the Access Foundation, Power to Change, Sport England and the National Lottery Community Fund. 

A key aspect of our offer is to enable and facilitate trusting, effective partnerships and collaborations between the public, private and VCSE sectors to create greater social impact, add value to public spending and increase social and economic inclusion. During the national pandemic, Bristol’s One City Approach provided the mechanism and framework needed to support public, private and voluntary sector collaboration. From the co-design of new systems and processes to the development of new partnerships, the pandemic provided strong evidence of what can be achieved when the city works as one. As we reimagine the sector post Covid19, we will be intentional about maintaining the One City Approach and supporting the cross-sector work that has proved so effective. 

A word of thanks – Voscur members, staff, volunteers, partners, stakeholders and supporters: The Chair of Trustees and Chief Executive Officer acknowledge, with gratitude, the ongoing support, hard work and commitment of our member groups, the staff team, volunteers, partners, stakeholders, affiliates and supporters who together ensure that Voscur can continue to deliver much needed leadership, support and development to the VCSE sector in Bristol. 

## Lin Whitfield 

Sandra Meadows 

Lin Whitfield Chair - Board of Trustees 

Sandra Meadows MBE Chief Executive Officer 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

The trustees present their report along with the financial statements of the charity for the year ended 31 March 2021. 

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 (effective from January 2019). 

## **Structure, governance and management** 

Voscur was formed as an unincorporated organisation in 1995, registered and incorporated as a company (limited by guarantee) on 31 January 2000, and registered as a charity on 1 August 2012. 

The charity is governed by its Memorandum and Articles of Association. In the event of the charity being wound up, members are required to contribute an amount of £1. Voscur is a member of the National Association for Voluntary and Community Action (NAVCA) which is a national body for Councils for Voluntary Service. 

## **Governance and appointment of trustees** 

Trustees who have served during the year and since the year end are set out in this report. Trustees are elected annually by the members of the charity and serve for an initial three year period. A further three year term may be served. The governance of the organisation is the responsibility of the board of trustees of the charity who are also the directors of Voscur Limited. The board comprises of at least three and not more than fifteen individuals. Of this, thirteen trustees must be nominated by members. Up to two additional trustees can be co-opted by the board to bring specialist skills or experience to the organisation’s governance. The trustees appoint a chair, up to two vice chairs and a treasurer. The board meets every six weeks. All trustees give their time freely and no trustees were paid during the year. 

Members of the board of trustees and staff have signed declarations of interest in the organisation and a register of any interests is kept. 

Details of trustees’ expenses and related party transactions are disclosed within these accounts. Trustees are required to disclose all relevant interests and register them with the organisation and, in accordance with the organisation’s Memorandum and Articles, withdraw from decisions where a conflict of interest arises. 

## **Decision making structure** 

The board is responsible for strategic planning, agreeing policies, ensuring the organisation complies with any legal and regulatory requirements, and ensuring that Voscur uses its resources in line with its charitable objects. The board delegates the day-to-day management of the organisation to the Chief Executive and senior management team who are paid members of staff. 

## **Trustee induction and training** 

Voscur provides a comprehensive induction for new trustees which includes an overview of the structure and operation of the business and an opportunity to meet the staff team. They are also supplied with a Trustee Pack containing documents and information pertinent to their roles and responsibilities. Trustees are encouraged to attend appropriate training courses, meetings and conferences relevant to their role. 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

## **Pay and remuneration for staff** 

Voscur pay and remuneration is set using local and national market benchmarking. Voscur uses the National Joint Council (NJC) pay scales as guidance for the pay structure which is applied across the organisation. 

## **Risk statement** 

Trustees review the major risks to which the charity is exposed and is continually developing systems and procedures to manage and mitigate those risks. 

## **Our mission** 

To be the enabling mechanism providing leadership, development and support that maximises the social purpose and positive impact of VCSE organisations on the city and region. 

Specifically, through our charitable aims, we work to: 

- benefit the public by supporting and developing a thriving, effective and influential voluntary, community and social enterprise sector in Bristol and surrounds - in particular by building the capacity of groups and organisations to pursue or contribute to any charitable purpose; and 

- promote, organise and facilitate co-operation and partnership working between third sector, statutory, and other relevant bodies to achieve a thriving voluntary, community and social enterprise sector. 

## **Our strategic objectives** 

- Development: Find out what local communities need and help organisations to meet those needs; 

- Support: Help organisations function more effectively and improve their services; 

- Liaison: Help organisations communicate and collaborate effectively together; 

- Representation: Represent the views of the VCSE sector to public bodies and policymakers to help improve the environment in which we all work; 

- Strategic partnerships: Foster effective working between the public and voluntary sector to inform and influence local planning and policymaking; 

- Equality and Inclusion: Increase the participation of all equalities groups in civil society; and 

- Sustainability: Be entrepreneurial and responsive to ensure Voscur’s own sustainability. 

## **Our activities** 

- Capacity building and development support; 

- ▪ Funding advice; ▪ Commissioning/procurement support; 

- Training and events including bespoke programmes and facilitation; 

- Network development and facilitation; 

- Recruitment advertising; 

- Collaboration and partnership development and support; 

- Specialist consultancy; 

- Membership; and 

- ▪ Leadership, advocacy and strategic influencing. 

## **How our activities deliver public benefit** 

Our main activities and the individuals and groups we support and enable are described below. All our charitable activities focus on increasing the impact of local voluntary, community and social enterprise organisations in achieving their own charitable purposes more effectively, and we undertake these activities to further our own charitable objects for the public benefit. 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

## **Highlights for the year 2020-21** 

## **Service delivery - Bristol City Council infrastructure support contract** 

We work to ensure that delivery of the Infrastructure Support Services grant on behalf of Bristol City Council for the Voluntary Community and Social Enterprise Sector (VCSE) is aligned with our charitable objectives and strategic aims. Infrastructure Support Services income is allocated to activities on a full cost recovery basis, with staff time as the main income and expenditure driver. 

Services delivered under this grant also continued to be aligned with Bristol’s One City Plan and Approach, Bristol’s Sustainable Development Goals and recommendations from a new report – ‘Designing a New Social Reality’ – which followed sector wide research led by BSWN in partnership with Voscur and Locality. 

## **Policy and information services** 

During the year, we further developed our Policy and Information service, employing a dedicated officer with a remit to share policy, information, data and intelligence with the sector in order to strengthen sector-led service delivery and voice and influence for communities and the sector as a whole. In 2020-21, our website received 1,281,084 page views from 311,293 unique visitors. Twitter followers increased by 6%. Our weekly email bulletin subscribers totalled 1,915 at the end of the year. 

## **Fundraising and income generation** 

The demand for fundraising support has remained high and we expect this to continue through 202122. Whilst a number of organisations are working to diversify income streams, some organisations (particularly start-ups) are looking at opportunities for trading and/or social investment which is in line with VCSE Strategy objectives and the plans for the future sustainability of the sector. The full negative impact of Covid19 on the VCSE sector’s financial resources was, to an extent, cushioned by emergency grants which offered a lifeline to those able to access the fund(s). Throughout the year we have been working closely with funders and commissioners through the newly formed (2020) VCSE Strategy Group and the Funders Network to achieve the aim of a new approach to funding and commissioning – for the long term and with greater equity. In the meantime, wider economic concerns about Covid19 recovery, post-Brexit challenges and the impact of these on available charitable funding and charitable giving will continue to put pressure on local organisations, including 

On a more positive note, the Social Enterprise market although shaken by the events of 2020, continues to develop and diversify. The demand for social investment is slowly increasing with the benefits of enterprise and trading models steadily gaining traction. It is clear that enterprise development support could be expanded further to build and strengthen the pipeline, particularly for small and medium sized organisations. Our work in this regard through membership of Bristol Local Access Programme (LAP) and City Funds Governing Board expanded with the Voscur CEO joining the City Funds Investment Advisory Committee as the LAP Programme Management Board representative. This has resulted in greater cohesion between the programmes. 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

In this regard, during the year 2020-21 Voscur worked to: 

- complete the 2020 Social Invest South West project, funded by Barrow Cadbury, to target support for charity trading and preparing for social investment – helping to build the pipeline noted above; 

- distribute £108,216 in grants from Sport England to organisations and communities experiencing the greatest inequalities exacerbated by the pandemic to support their health and wellbeing; 

- help secure c.£6.3m of inward investment to local organisations; 

- complete the capacity building element of the Youth Sector Support Fund contract with Quartet Community Foundation. We are now continuing to support the Playful Bristol and Youth Alliance networks to strengthen organisations in this sector and increase the provision of youth and play services in the city’s most deprived neighbourhoods; and 

- develop its role as Lead Provider and, where possible, lead collaborative via projects such as our work with Healthier Together, the NHS partnership for Bristol, North Somerset and South Gloucestershire. 

## **Capacity building support** 

Demand for advice and support has continued, becoming more varied and complex as organisations adapted to national lockdowns during the 2020 pandemic, and thereafter pandemic recovery challenges. This is likely to continue as organisations seek to re-start or expand their operations and take on new initiatives and ways of working. During the year, organisations supported by Voscur demonstrated resilient leadership, creativity and innovation in the face of extraordinary challenges and we are keen to build on this through future targeted and nuanced capacity building support. Some organisations experienced complex governance and organisational development issues that required intensive support to address. This is likely to continue as the impact of cumulative change stretches the capacity and resources of boards and operational staff teams. 

This year, by design and necessity, we targeted support to organisations to provide a greater range and depth of inputs to each. This also reflects a gradual shift to a more differentiated (rather than universal) offer to groups in line with our longer-term business plan. 

## **Change/start-up/outreach** 

Our previous outreach focus on the south and north of the city has increased engagement and capacity for organisations and groups in priority (e.g. most disadvantaged) neighbourhoods. Analysis of the past three years shows a steady increase in our reach into key geographic areas and organisations led by equalities groups: 

|**Organisations equalities/monitoring**|**2018-19**|**2018-19**|**2019-20**|**2019-20**|**2020-21**|**2020-21**|
|---|---|---|---|---|---|---|
||Total|%|Total|%|Total|%|
|Total support sessionsprovided|564||606||563||
|Equalities-led organisations supported|55|24%|70|26%|61|28%|
|Total organisations based inprioritywards|28|20%|36|25%|33|28%|



Increased numbers of organisations are now seeking to blend grants with earned income. This brings with it the need to plan future finance at the outset and will require support in choosing and developing an appropriate legal structure. This work aligns with the VCSE Research recommendations and supports a number of objectives in Bristol’s One City Plan and Bristol City Council’s Corporate and Economic Recovery strategies. 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

In this regard, during the year 2020-21, Voscur worked to: 

- align our outreach work with citywide efforts to map and develop approaches to address digital exclusion; and 

- use data on Covid rates to inform targeted support by identifying the most affected neighbourhoods (typically those already high on indices of multiple deprivation). This allowed us to deliver focussed outreach work in these areas to address gaps in front-line delivery, the capacity of volunteers and the potential for collaboration between larger and smaller VCSE groups to inform targeted support. 

## **Information and data** 

Access to and the sharing of accurate, high-quality information and data remains a key strategic objective for the sector. Additionally, it is likely there will be continued demand from commissioners and policymakers to engage and co-design with VCSE organisations across Bristol and the West of England sub region. 

In this regard, during the year 2020-21, Voscur worked to: 

- provide baseline data and intelligence to the research underpinning the VCSE Sector Research – Designing a New Social Reality – and to inform a subsequent strategic action plan; 

- collaborate with more VCSE partners and academic researchers (University of Bristol) to generate further research and share new data and intelligence; and 

- collate data on funding and finance products into a ‘ladder’ of steps to sustainability to help organisations and social enterprises develop their social impact. 

## **Collaboration/partnership development and support** 

Increasingly, groups require collaboration support targeted on specific future opportunities. Whilst an understandable response to funding reductions/constraints, the preferred objective remains that groups are able to identify opportunities for partnership and collaboration outside or in advance of funding opportunities. 

In this regard, during the year 2020-21, Voscur: 

- entered into a collaboration with Quartet Community Foundation to partially fund the salary of a new (City Funds) Pro-Bono Co-ordinator; 

- developed new partnerships with providers of learning and development programmes to bring a refreshed offer of, learning opportunities and 1-2-1 pro bono support to local groups to support skills and organisational development; 

- supported groups to identify opportunities for collaboration and partnership; 

- invested in proactive outreach and capacity building to support long-term collaboration(s); 

- supported groups and organisations to better understand the principles within ‘Bristol in Partnership’ in order to advocate for high quality partnership and collaboration, within and across sectors; 

- provided learning opportunities to increase knowledge and skills in the area of collaboration and partnership; and 

- worked as a key member of the VCSE Strategy Group to take forward recommendations from the research report ‘Designing a New Social Reality’, taking leadership on the development of a New Democratic Forum for the sector. 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

## **Designing a New Social Reality – Extract from the vision for Bristol’s VCSE sector** 

_“Our collective leadership is needed to reimagine the sector and break new ground. The process of uncovering what this new reality means for citizens and civil society is a journey where the end destination is as yet unknown. However, we do know that strengthening the relationships between us will open doors and bring new opportunities. Through recent events we have seen a shift in consciousness and a real desire for change that brings a brighter, more equal future for all. The time is ripe to cross and fill historical divides with new meaning. We have the biggest and best opportunity to create far more positive change than we ever envisaged or have experienced in our lifetimes. The scope for reconfiguration is in the best place, in our hands.”_ 

## **Voice and influence** 

Our work to strengthen and amplify the voice of communities of place (i.e. grass-roots) and interest and the views of those with lived experience continued during the year through our work enabling and facilitating the VCSE Sector Leaders Group and through the dissemination of analysis and policy/strategy interpretation across a wide range of topics. 

In this regard, during the year 2020-21, Voscur worked to: 

- contribute to the Voice & Influence Partnership led by The Care Forum as strategic partners on the VIP Steering Group; 

- expand the VCSE Sector Leaders Group and link it to related initiatives such as Everyday Integration’s policy work on inclusion and the emerging New Democratic Forum (see recommendations from ‘Designing a New Social Reality’); 

- support Sector Leaders to engage with One City Plan Thematic Boards, VCSE Strategy, Local Industrial Strategy and BNSSG CCG Healthier in Partnership/Healthier Together programme; 

- increase participation from under-represented/marginalised groups (existing or new); and support the contribution of those with lived experience through our work and membership of Bristol Community Health’s Well-being Fund awards panel which is managed by Quartet. 

## **Social value** 

During the year 2020-21, we worked to ensure projected opportunities are realised for cross sector collaboration, greater economic inclusion and the recognition of the additional value many VCSE organisations already deliver through contracted and/or commissioned service delivery. This included work with organisations to widen engagement and understanding of the city’s social value tool and policy and advocating for necessary changes to the framework to eliminate any systemic or inherent disadvantages for VCSE organisations. Our Development Director leads on this area of work, which includes the intended creation of a VCSE Social Value Working Group in 21-22 to share knowledge, learning and to agree necessary actions to enable the routine monitoring and reporting of social impact and value. 

## **Activities for generating funds** 

2020-21 was an extremely challenging year for Voscur’s self-generating income streams. The Covid19 pandemic and national lockdowns impacted negatively on our ability to deliver a pre-planned learning and development programme and severely restricted opportunities for consultancy or bespoke/in-house courses. Income from recruitment advertising was also negatively affected. In addition, the Voscur board of Trustees agreed a recommendation from staff to waive fees for learning and events for a 2 month period during the first national lockdown. This was in an effort to alleviate some of the financial burden faced by member organisations, whilst maintaining engagement with front-line organisations so that staff and volunteers could attend critical programmes such as ‘Safeguarding in Volunteering’. 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

## **Membership** 

Membership fees represent a key strand of self-generated income for Voscur. Fees are charged in relation to member groups’ income and membership status. As at 31 March 2021, our membership stood at 431 members, comprising 422 organisations and 9 individuals. In addition, 56 agencies and individuals were Affiliates (as opposed to full members) and a further 19 agencies or individuals were listed as ‘Supporters’ of Voscur. Of our 431 members, 148 groups with an income of less than £10,000 per annum received support through free membership. 

## **Open and bespoke learning opportunities and sector events** 

Another key area of self-generated income is our growing learning and events programme. This year we took the significant step of finalising a renewed and refreshed learning and development offer under a new brand name and platform: The VCSE Academy (due to launch Nov 2021). 

Through our 2020-21 programme, and despite a 2 month fee waiver, we successfully delivered training to a total of 732 organisations and 855 individuals drawn from our Membership and the wider sector. Of these 96% reported their learning increased their capacity in their role, and hence the strength of their organisation. 

Analysis of participant evaluations shows that our programme continues to be viewed as relevant and high quality by members and service users. The programme was successfully expanded during the year to ensure the offer continued to meet new and emerging needs. We offer a wide range of subjects to promote and embed best practice within governance, organisational development including the growth of enterprise and trading, capacity building and advocacy. Courses continued to be offered at discounted rates for members and delivered within community venues across the city (a key part of our commitment to keep funds circulating in the local economy). 

## **Recruitment advertising** 

Revenue income from online job advertising during the year was £44,086, a reduction of c.12% on the previous year. Despite this reduction in income, we are pleased with feedback from members and the wider sector that our recruitment advertising service remains valued as a trusted gateway to employment and progression within the Bristol VCSE sector. With a return to normal operations and through a review and streamlining of financial and administrative systems and an increase in automation (including on-line payments), we aim to increase this revenue stream in the year 2021-22. 

## **Consultancy services** 

This area of business remains central to our business plan looking ahead. This year earned income has been reduced as organisations focus on adaptation and change as a result of Covid19. However, we have expanded and diversified our network of Voscur Associates through 2 rounds of recruitment in order to be able to continue providing high-quality, tailored learning opportunities and consultancy. We look forward to further developing this area of business in 2021-22 including an increase in cross sector consultancy work. 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

## **Business review and development plan** 

It is appropriate that Voscur’s role shifts in response to the current and emerging needs of the sector. The impact of the 2020 global pandemic has resulted in both challenges and new opportunities for VCSE organisations, including Voscur. With increased demand for support and development, in a more challenging social, environmental and economic context, a dynamic and flexible approach is required. Whilst working in line with the Council for Voluntary Service (CVS) model, our role as a sector leader, enabler, broker and facilitator, providing services that are aligned with multiple strategic priorities and objectives, is growing in complexity. We therefore recognise the need for a business plan for the short, medium and long-term – anticipating as far as possible the needs of our own organisation and the wider sector. 

Further work will therefore be undertaken during 2021-22 to finalise a new business plan which will include the alignment of services to current and emerging needs for the sector and the recommendations from the research report ‘Designing a New Social Reality’. It was acknowledged during the previous year that an increase in self-generated income and the development of paid-for services were key to the charity’s future sustainability, and this will continue to be a strategic focus during 2021-22. 

Key to our sustainability and development is the outcome of our bid to Bristol City Council for the Enabling the Voluntary Sector Grant (2022-2026) which is due for submission in October 2021. 

## **Review of membership offer** 

A systems review of membership took place during the year, focussed on interactions between staff roles, website capability, financial functions and required levels of automation to ensure cost recovery and value for money. During the year, our Finance Manager worked alongside other team members to begin the transition to automated payments for both membership and training. We anticipate that this will be completed early in 2021-22. 

During the year 2021-22, we will progress the full review of the membership offer, with an anticipated relaunch in early 2022. As planned, the new offer will be differentiated to include, for example, an assessment of annual income, organisation type and location (e.g. Bristol or surrounding areas). We are confident that the new offer, supported by targeted marketing and structured member engagement will ensure that membership remains a sustainable source of unrestricted income as well as embedding loyalty and commitment to Voscur. 

## **Financial review 2020-21** 

A very challenging year for Voscur and all other charities, voluntary groups and social enterprises. The impact of the global Coronavirus pandemic and national lockdowns necessitated a swift change to services and urgent negotiations with funders. Voscur took immediate steps to ensure the safety of the staff team, and to provide necessary equipment for the team to move to remote working. The Voscur staff team initiated a number of measures to assist the voluntary and community sector and city Leaders, including additional resources on the Voscur website, transitioning to on-line webinars and events and a two-month period where charges for membership, training and job adverts were waived. We are pleased to report that all funders and commissioners were supportive of our proposals to repurpose or reallocate funding to meet the immediate needs of the organisation, its service users and the wider sector during this period. Through these variations, Voscur was able to provide additional resources to assist with Bristol’s Covid19 emergency response and outbreak management. As a charity and CVS, there were few opportunities to replace lost funding and income through emergency relief and recovery funding, with the exception of the national Furlough Scheme which helped to stablise the staff team and structure. 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

Our plans to drive up revenue and deliver a revitalised learning and development offer (Voscur VCSE Academy) remain. After a significant delay resulting from Covid19 and the temporary cessation of face-to-face training delivery, our self-generated income is lower than forecast for the year 2020-21. Linked to this, the official launch of a new, online learning and development offer (VCSE Academy, hosted by Voscur) was delayed and is now planned for November 2021. A return to normal operations will help to strengthen this income stream although with some added risk due to the challenging financial situation faced by a significant number of members and the wider sector. 

Overall, whilst new funding for infrastructure support organisations (CVS’) locally and nationally continues to be difficult to secure, Bristol City Council continued to support the VCSE sector in Bristol mainly through the second round of the Bristol Impact Fund (Small, Medium and Large grants) and the extension of Voscur’s infrastructure support grant (ISSP). 

## **Strategic objectives** 

The Covid19 pandemic forced a delay to our plans to further diversify and increase self-generated income streams. These plans will be revitalised for the year 2021-22 as part of Voscur’s own stablisation, recovery and business planning: 

- remodel, integrate and expand existing services so they are mutually sustainable remains a strategic objective; 

- ▪increased earned income from specialist support and consultancy remains a strategic objective; 

- increased earned income from online activity (e.g. membership and advertising) remains a strategic objective; and 

▪increased earned income from learning opportunities and events remains a strategic objective. 

Largely due to the prudent level of unrestricted reserves at 1 April 2020, Voscur was in a stable financial position which it maintained throughout this difficult financial year. The Bristol City Council Infrastructure and Support Services grant remained at £338,118 (2019-20 £338,118) and, due to the pandemic, this funding was extended to 31 March 2022, which also provided further financial stability. 

Voscur also attracted funding from Sport England (Tackling Inequalities Fund), working in close partnership with Wesport. This funding was distributed to support voluntary, community and social enterprise organisations in the wider engagement of citizens, particularly from Black, Asian and other ethnic communities, in activities to support health and wellbeing. 

During the year, Voscur committed both time and resources to merger negotiations and associated due diligence reporting in relation to The Care Forum, estimated at £45,805. 

During 2020-21 overall income increased to £764,179 (2019-20 £594,153), mainly as a result of substantial grant funding from Sport England. Expenditure also increased to £697,510 (2019-20 £494,573) due in the main to the servicing of the Sport England grants. Overall, this resulted in Voscur achieving an overall surplus of £66,669 (2019-20 £99,580). At 31 March 2021, the overall net assets stand at £553,402 compared with £486,733 at 31 March 2020. 

## **Reserves policy** 

Voscur seeks to raise and maintain sufficient funds in the reserves accounts to cover the following contingencies: 

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## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

**Staff contingency/armageddon reserve:** (to cover costs arising from sick leave or other enforced staff absence and the costs of closure of the organisation and its activities). This is based on 6 months’ running down time, including redundancies, any contract obligations and skeleton staffing. 

It is Voscur’s policy to retain a £146,189 contingency balance, based on an ‘Armageddon’ scenario, to cover core operating costs over a six-month period. Voscur’s Resources Sub-Committee, in accordance with policy and good practice, reviews the level of reserves annually. Voscur’s dilapidations reserve is now £30,000 and our reserve for IT renewals and replacements is also £30,000. 

**Designated reserve:** A designated reserve of £20,000 was created in 2019-20 to ensure sufficient resources were available to fund organisational strategic development, including progressing the potential merger with The Care Forum. Of this £20,000, £14,510 was utilised in completing a rigorous due diligence process, leaving a balance of £5,490. This balance will be utilised to assist Voscur in updating its business plan during 2021-22. 

**General reserve:** (to cover funding shortfalls or interruption to normal operating activities). The target level is based on 3 months’ budgeted core operating costs for the following financial year. These funds will provide Voscur with a level of stability whilst the longer-term impact of the pandemic is still to be assessed. 

The general reserve stands at £119,729 (2019-20 £142,437) and has decreased over 2020-21 primarily due to the impact of the pandemic and the provision of free Voscur services during April and May 2020. 

## **Going concern** 

Voscur had an unrestricted reserves balance of £119,729 moving into 2021-22 financial year (£142,437 in 2020-21). Due to this prudent level of reserves the impact of the pandemic for Voscur was, thankfully, limited. We are, however, aware that some of our members are experiencing financial difficulties and that may, in the longer term, affect our self-generated income through membership fees, advertising and consultancy. 

These self-generated income streams are an area of focus for the board and senior management team, and we regularly review strategies to increase such income, whilst still meeting Voscur’s core objectives. We will also be submitting a substantial funding bid to Bristol City Council for the ‘Enabling the Voluntary Sector’ grant programme running from 2022 to 2026 (with an option to extend). If successful, this grant will assist in the stability of our income and related expenditure for the next 3+ years. 

The reduction in our general reserves between 1 April 2020 and 31 March 2021 (£22,708) is mainly due to costs incurred in relation to the proposed merger (largely financial and legal due diligence) with The Care Forum and lost income as a result of the Covid19 pandemic. 

Moving into 2021-22 Voscur is monitoring its on-going financial position regularly, with particular attention on income generation and reducing expenditure. The trustees feel that for the 2021-22 financial year Voscur will continue to provide a high level of services to its beneficiaries. As Voscur moves into 2022-23 financial year the success, or not, of the bid to Bristol City Council will have a significant impact on our finances. The board of trustees (board and resources committee) and senior management team will plan for this scenario and closely monitor the situation so that appropriate or required actions can be taken in a timely manner. 

12 



## **Voscur Limited** 

## **Report of the trustees** 

## **For the year ended 31 March 2021** 

## **Statement of responsibilities of the trustees** 

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with 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). 

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 charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- ▪ observe the methods and principles in the Charities SORP; ▪ make judgements and accounting estimates that are reasonable and prudent; ▪ state whether applicable UK accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

In so far as the trustees are aware: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

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. 

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 charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity. 

## **Auditors** 

Godfrey Wilson Limited were re-appointed as auditors to the charitable company during the year and have expressed their willingness to continue in that capacity. 

Approved by the trustees on 25 November 2021 and signed on their behalf by 

## Lin Whitfield 

Lin Whitfield Chair - Board of Trustees 

13 



## **Independent auditor's report** 

## **To the members of** 

## **Voscur Limited** 

## **Opinion** 

We have audited the financial statements of Voscur Limited (the 'charity') for the year ended 31 March 2021 which comprise the statement of financial activities, balance sheet, statement of cash flows and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 charity'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. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the 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. 

14 



## **Independent auditor's report** 

## **To the members of** 

## **Voscur Limited** 

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 

We have nothing to report in this regard. 

## **Opinion on other matters prescribed by the Companies Act 2006** 

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

- the information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the trustees’ report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the charity 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: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; 

- the financial statements are not in agreement with the accounting records and returns; 

- certain disclosures of trustees’ remuneration specified by law are not made; or 

- we have not obtained all the information and explanations necessary for the purposes of our audit. 

## **Responsibilities of the trustees** 

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees 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 they 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 charity’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 charity or to cease operations, or have no realistic alternative but to do so. 

15 



## **Independent auditor's report** 

## **To the members of** 

## **Voscur Limited** 

## **Our 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 procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below: 

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance. 

(2) We reviewed the charity’s policies and procedures in relation to: 

- Identifying, evaluating and complying with laws and regulations, and whether they were aware of any instances of non-compliance; 

- Detecting and responding to the risk of fraud, and whether they were aware of any actual, suspected or alleged fraud; and 

- Designing and implementing internal controls to mitigate the risk of non-compliance with laws and regulations, including fraud. 

(3) We inspected the minutes of trustee meetings. 

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them. 

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations. 

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error. 

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included: 

▪Testing the appropriateness of journal entries; 

▪Assessing judgements and accounting estimates for potential bias; 

▪Reviewing related party transactions; and 

▪Testing transactions that are unusual or outside the normal course of business. 

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. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

16 



## **Independent auditor's report** 

## **To the members of** 

## **Voscur Limited** 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charity'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 charity's members those matters we are required to state to them in an auditorʼs 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 charity's members as a body, for our audit work, for this report, or for the opinions we have formed. 

## Alison Godfrey 

Date: 29 November 2021 

## **Alison Godfrey FCA (Senior Statutory Auditor)** 

For and on behalf of: 

## **GODFREY WILSON LIMITED** 

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD 

17 



## **Voscur Limited** 

**Statement of financial activities** _(incorporating an income and expenditure account)_ 

## **For the year ended 31 March 2021** 

|Note<br>**Income from:**<br>Donations<br>Charitable activities<br>3<br>Investments<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>Charitable activities<br>**Total expenditure**<br>5<br>**Net income / (expenditure)**<br>Transfers between funds<br>**Net movement in funds**<br>6<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**|Restricted<br>£<br>-<br>637,609<br>-<br>637,609<br>-<br>533,722<br>533,722<br>103,887<br>-<br>103,887<br>118,107<br>221,994|Unrestricted<br>£<br>3,819<br>122,611<br>140<br>126,570<br>14,340<br>149,448<br>163,788<br>(37,218)<br>-<br>(37,218)<br>368,626<br>331,408|**2021**<br>**Total**<br>**£**<br>**3,819**<br>**760,220**<br>**140**<br>**764,179**<br>**14,340**<br>**683,170**<br>**697,510**<br>**66,669**<br>**-**<br>**66,669**<br>**486,733**<br>**553,402**|2020<br>Total<br>£<br>-<br>593,924<br>229|
|---|---|---|---|---|
|||||594,153|
|||||15,706<br>478,867|
|||||494,573|
|||||99,580<br>-|
|||||99,580<br>387,153|
|||||486,733|



All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 14 to the accounts. 

18 



## **Voscur Limited** 

## **Balance sheet** 

## **As at 31 March 2021** 

|Note<br>**Current assets**<br>Debtors<br>11<br>Cash at bank and in hand<br>**Liabilities**<br>Creditors: amounts falling due within 1 year<br>12<br>**Net current assets**<br>**Net assets**<br>13<br>**Funds**<br>14<br>Restricted funds<br>Unrestricted funds<br>Designated funds<br>General funds<br>**Total charity funds**|**40,929**<br>**608,842**<br>**649,771**<br>**96,369**|**2021**<br>**£**<br>**553,402**<br>**553,402**<br>**221,994**<br>**211,679**<br>**119,729**<br>**553,402**|2020<br>£<br>50,218<br>493,791|
|---|---|---|---|
||||544,009<br>57,276|
||||486,733|
||||486,733|
||||118,107<br>226,189<br>142,437|
||||486,733|



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime. 

Approved by the trustees on 25 November 2021 and signed on their behalf by 

## Lin Whitfield 

Lin Whitfield Chair 

19 



## **Voscur Limited** 

## **Statement of cash flows** 

## **For the year ended 31 March 2021** 

|**Cash used in operating activities:**<br>Net movement in funds<br>_Adjustments for:_<br>Interest received<br>Decrease / (increase) in debtors<br>Increase / (decrease) in creditors<br>**Net cash provided by / (used in) operating activities**<br>**Cash flows from investing activities:**<br>Interest received<br>**Net cash provided by investing activities**<br>**Increase in cash and cash equivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash equivalents at the end of the year**|**2021**<br>**£**<br>**66,669**<br>**(140)**<br>**9,289**<br>**39,093**<br>**114,911**<br>**140**<br>**140**<br>**115,051**<br>**493,791**<br>**608,842**|2020<br>£<br>99,580<br>(229)<br>26,434<br>(49,841)|
|---|---|---|
|||75,944|
|||229|
|||229|
|||76,173<br>417,618|
|||493,791|



The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements. 

20 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **1. Accounting policies** 

## **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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

Voscur Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## **b) Going concern basis of accounting** 

- The accounts have been prepared on the assumption that the charitable company is able to continue as a going concern, which the trustees consider appropriate having regard to the charity's unrestricted reserves. Voscur had an unrestricted reserves balance of £119,729 moving into 2021-22 financial year (£142,437 in 2020-21). The reduction in our general reserves between 1 April 2020 and 31 March 2021 (£22,708) is mainly due to the costs incurred in relation to the proposed merger (largely financial and legal due diligence) with The Care Forum and lost income as a result of Covid19 pandemic. Moving into 2021-22, Voscur is monitoring its on-going financial position regularly, with particular attention on income generation and reducing expenditure. As Voscur moves into 2022-23 financial year the success, or not, of the bid to Bristol City Council, will have a significant impact on our finances. The board of trustees (board and resources committee) will closely monitor the situation and take appropriate action when required. 

## **c) Income** 

Income is recognised when the charitable company has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably. 

Income from the government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charitable company 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. 

Income received in advance of provision of a service relating to specific periods is deferred until criteria for income recognition are met. Contract income is recognised when invoiced, unless it relates to a future event or period, in which case it is deferred. 

## **d) Volunteer time** 

In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised as a monetary value. Voscur engages volunteers in many capacities to support and enhance the work that is carried out. 

## **e) Interest receivable** 

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

21 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **1. Accounting policies (continued)** 

## **f) Funds accounting** 

- Unrestricted funds are available to spend on activities that further any of the purposes of the charitable company. Designated funds are unrestricted funds of the charitable company 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 charitable company's work or for specific projects being undertaken by the charitable company. 

## **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. 

Irrecoverable VAT is charged to support costs within expenditure. 

## **h) Allocation of support and governance costs** 

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities based on the proportion of direct costs, as follows: 

||**2021**|2020|
|---|---|---|
|Raising funds|**2.1%**|3.2%|
|Charitable activities|**97.9%**|96.8%|



## **i) Grants payable** 

Grants payable are recognised in the year in which the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attached have been fulfilled. 

## **j) 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. 

## **k) 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. 

## **l) Creditors** 

Creditors and provisions are recognised where the charitable company 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. 

22 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **1. Accounting policies (continued)** 

## **m) 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 recognised at amortised cost using the effective interest method. 

## **n) Pension costs** 

The charitable company offers a defined contribution scheme, contributing 7% of gross pay towards an auto-enrolment scheme. The cost of providing pensions and related benefits is included within staff costs. 

## **o) Accounting estimates and key judgements** 

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. 

No key sources of estimation or uncertainty that have a significant effect on the amounts recognised in the financial statements have been identified. 

**2. Statement of financial activities: prior period comparative** 

|**Income from:**<br>Charitable activities<br>Investments<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>Charitable activities<br>**Total expenditure**<br>**Net income and**<br>**net movement in funds**|Restricted<br>£<br>£<br>420,714<br>173,210<br>-<br>229<br>420,714<br>173,439<br>-<br>15,706<br>413,737<br>65,130<br>413,737<br>80,836<br>6,977<br>92,603<br>Unrestricted|**2020**<br>**Total**<br>**£**<br>**593,924**<br>**229**|
|---|---|---|
|||**594,153**|
|||**15,706**<br>**478,867**|
|||**494,573**|
|||**99,580**|



23 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **3. Income from charitable activities** 

|Grants<br>Membership<br>Training<br>Job advertisements<br>Consultancy<br>**Total charitable activities**<br>**Prior period comparative**<br>Grants<br>Membership<br>Training<br>Job advertisements<br>Consultancy<br>**Total charitable activities**|Restricted<br>Unrestricted<br>£<br>£<br>637,609<br>-<br>-<br>21,455<br>-<br>13,285<br>-<br>44,086<br>-<br>43,785<br>637,609<br>122,611<br>Restricted Unrestricted<br>£<br>£<br>416,339<br>-<br>-<br>25,774<br>-<br>17,146<br>-<br>48,014<br>4,375<br>82,276<br>420,714<br>173,210|**2021**<br>**Total**<br>**£**<br>**637,609**<br>**21,455**<br>**13,285**<br>**44,086**<br>**43,785**|
|---|---|---|
|||**760,220**|
|||**2020**<br>**Total**<br>**£**<br>**416,339**<br>**25,774**<br>**17,146**<br>**48,014**<br>**86,651**|
|||**593,924**|



## **4. Government grants** 

The charitable company receives government grants, deemed to be funding from Bristol City Council, Sport England, Coronavirus Job Retention Scheme and BSSNG NHS, to fund core services and charitable activities. The total value of such grants in the period ending 31 March 2021 was £596,890 (2020: £367,855). There are no unfulfilled conditions or contingencies attaching to these grants. 

24 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **5. Total expenditure** 

|Staff costs (note 7)<br>Travel, subs and recruitment<br>Training and conferences<br>Meeting and network costs<br>Subscriptions, membership and<br>resources<br>Advisory and consultancy<br>Rent, rates and office space<br>Office supplies, stationery and post<br>IT costs<br>Grants payable (note 8)<br>Newsletter and directory<br>Office equipment, hire and maintenance<br>Insurance, legal and professional fees<br>Audit and accountancy<br>Bank charges<br>Irrecoverable VAT<br>Sub-total<br>Allocation of support and governance<br>costs<br>**Total expenditure**|**£**<br>11,942<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>11,942<br>2,398<br>14,340<br>**Raising**<br>**funds**|**£**<br>407,132<br>1,930<br>466<br>580<br>-<br>22,643<br>-<br>-<br>26,479<br>108,216<br>1,503<br>-<br>-<br>-<br>-<br>-<br>568,949<br>114,221<br>683,170<br>**Charitable**<br>**activities**|**£**<br>32,870<br>6,699<br>1,270<br>-<br>2,699<br>14,702<br>23,461<br>8,125<br>8,445<br>-<br>-<br>954<br>2,734<br>8,457<br>176<br>6,027<br>116,619<br>(116,619)<br>-<br>**Support and**<br>**governance**|**2021**<br>**Total**<br>**£**<br>**451,944**<br>**8,629**<br>**1,736**<br>**580**<br>**2,699**<br>**37,345**<br>**23,461**<br>**8,125**<br>**34,924**<br>**108,216**<br>**1,503**<br>**954**<br>**2,734**<br>**8,457**<br>**176**<br>**6,027**|
|---|---|---|---|---|
|||||**697,510**<br>**-**|
|||||**697,510**|



Total governance costs in the year were £24,257. 

25 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **5. Total expenditure: prior period comparative** 

|Staff costs (note 7)<br>Research and development<br>Travel, subs and recruitment<br>Training and conferences<br>Meeting and network costs<br>Subscriptions, membership and<br>resources<br>Collaboration/external providers<br>Rent, rates and office space<br>Office supplies, stationery and post<br>IT costs<br>Grants payable (note 8)<br>Newsletter and directory<br>Office equipment, hire and maintenance<br>Insurance, legal and professional fees<br>Audit and accountancy<br>Bank charges<br>Irrecoverable VAT<br>Sub-total<br>Allocation of support and governance<br>costs<br>**Total expenditure**|**£**<br>10,716<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>10,716<br>4,990<br>15,706<br>**Raising**<br>**funds**|**£**<br>283,596<br>-<br>6,797<br>60<br>12,464<br>-<br>16,413<br>-<br>-<br>-<br>4,700<br>2,690<br>-<br>-<br>-<br>-<br>-<br>326,720<br>152,147<br>478,867<br>**Charitable**<br>**activities**|**£**<br>86,027<br>623<br>1,422<br>3,344<br>-<br>1,843<br>-<br>24,378<br>4,647<br>15,387<br>-<br>-<br>4,203<br>3,059<br>4,478<br>269<br>7,457<br>157,137<br>(157,137)<br>**-**<br>**Support and**<br>**governance**|**2020**<br>**Total**<br>**£**<br>**380,339**<br>**623**<br>**8,219**<br>**3,404**<br>**12,464**<br>**1,843**<br>**16,413**<br>**24,378**<br>**4,647**<br>**15,387**<br>**4,700**<br>**2,690**<br>**4,203**<br>**3,059**<br>**4,478**<br>**269**<br>**7,457**|
|---|---|---|---|---|
|||||**494,573**<br>**-**|
|||||**494,573**|



Total governance costs in the year were £19,273. 

26 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

**6. Net movement in funds** 

This is stated after charging: 

|Auditors' remuneration:<br>Statutory audit<br>Other services<br>Trustees' reimbursed expenses<br>Trustees' remuneration|**2021**<br>**£**<br>**Nil**<br>**Nil**<br>**4,900**<br>**3,410**|2020<br>£<br>Nil<br>Nil<br>4,620<br>960|
|---|---|---|



**7. Staff costs and numbers** Staff costs were as follows: 

|Salaries and wages<br>Social security costs<br>Pension contributions<br>Freelance staff|**2021**<br>**£**<br>**382,240**<br>**17,269**<br>**25,671**<br>**26,764**<br>**451,944**|2020<br>£<br>315,061<br>26,681<br>22,364<br>16,233|
|---|---|---|
|||380,339|



No employee earned more than £60,000 during the year. 

The key management personnel of the charitable company comprise the trustees, the Chief Executive and senior managers. Total employee benefits paid to key management personnel were £174,579 (2020: £145,207). 

|Average staff head count<br>Number of employees (full time equivalent):<br>Management<br>Development, Coordinator & Officers<br>Administration<br>**Total**|**2021**<br>**No.**<br>**16.33**<br>**2021**<br>**No.**<br>**3.62**<br>**6.05**<br>**2.94**<br>**12.61**|2020<br>No.<br>15.60|
|---|---|---|
|||2020<br>No.<br>3.50<br>5.80<br>1.53|
|||10.83|



27 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

**8. Grants payable** 

|**Grants to institutions:**<br>Unique Voice CIC<br>Bristol After Stroke<br>Growing Futures<br>Knowle West Health Park Company<br>Dance Music Arts Collective CIC<br>Full Circle @ Docklands<br>Bristol Black Carers<br>Paul’s Place (South West)<br>Houria CIC<br>Bridges for Communities<br>Avon Riding Centre for the Disabled<br>Age UK Bristol<br>Southmead Development Trust<br>Carers Support Centre<br>Active Being<br>Refugee Women of Bristol<br>Other < £2,000<br>**Total grants awarded to institutions**<br>Support costs incurred by Voscur in the administration of the grants|**2021**<br>**£**<br>**9,725**<br>**9,095**<br>**8,250**<br>**7,942**<br>**7,660**<br>**7,640**<br>**7,520**<br>**7,250**<br>**6,994**<br>**6,633**<br>**6,173**<br>**5,340**<br>**5,272**<br>**5,267**<br>**5,085**<br>**2,370**<br>**-**<br>**108,216**<br>**16,380**|2020<br>£<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>**-**<br>-<br>-<br>4,700|
|---|---|---|
|||4,700|
|||-|



All grants awarded by Voscur in the current year are the distribution of grant income received from Sport England for the Tackling Inequalities project. All grants paid were approved by Sport Englang prior to being dispersed. 

## **9. Taxation** 

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 

## **10. Operating lease commitments** 

The charitable company had operating leases for land and property at the year end with total future minimum lease payments as follows: 

|Amount falling due within 1 year:|**2021**<br>**£**<br>**3,287**|2020<br>£<br>3,258|
|---|---|---|



28 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **11. Debtors** 

|Trade debtors<br>Prepayments<br>Accrued income<br> **Creditors: amounts due within 1 year**<br>Trade creditors<br>Accruals<br>Other taxation and social security<br>Deferred income<br>VAT<br>Other creditors<br>Movements in deferred income consist of:<br>At 1 April 2020<br>Amounts released during the year<br>Amounts deferred during the year<br>**At 31 March 2021**|**2021**<br>**£**<br>**24,087**<br>**3,717**<br>**13,125**<br>**40,929**<br>**2021**<br>**£**<br>**40,579**<br>**34,048**<br>**3,016**<br>**4,080**<br>**8,897**<br>**5,749**<br>**96,369**<br>**2021**<br>**£**<br>**4,336**<br>**(4,336)**<br>**4,080**<br>**4,080**|2020<br>£<br>27,909<br>3,769<br>18,540|
|---|---|---|
|||50,218|
|||2020<br>£<br>8,832<br>22,223<br>6,175<br>4,336<br>6,347<br>9,363|
|||57,276|
|||2020<br>£<br>27,832<br>(27,832)<br>4,336|
|||4,336|



## **12. Creditors: amounts due within 1 year** 

Contract income is recognised to the extent of the stage of completion, and deferred where received in advance of the services being delivered. 

29 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

|**13.**<br>£<br>Current assets<br>221,994<br>Current liabilities<br>-<br>**Net assets at 31 March 2021**<br>**221,994**<br>**Prior period comparative**<br>£<br>Current assets<br>118,107<br>Current liabilities<br>-<br>**Net assets at 31 March 2020**<br>**118,107**<br>Restricted<br>funds<br>**Analysis of net assets between funds**<br>Restricted<br>funds|Designated<br>funds<br>£<br>211,679<br>-<br>**211,679**<br>Designated<br>funds<br>£<br>226,189<br>-<br>**226,189**|General<br>funds<br>£<br>216,098<br>(96,369)<br>**119,729**<br>General<br>funds<br>£<br>199,713<br>(57,276)<br>**142,437**|**Total**<br>**funds**<br>**£**<br>**649,771**<br>**(96,369)**|
|---|---|---|---|
||||**553,402**|
||||**Total**<br>**funds**<br>**£**<br>**544,009**<br>**(57,276)**|
||||**486,733**|



30 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **14. Movements in funds** 

|**Restricted funds**<br>_Infrastructure support services_<br>Bristol City Council<br>_BME voice and influence_<br>Bristol City Council<br>Care Forum<br>_Sport England: Tackling Inequalities_<br>Grant award fund<br>Voscur support costs<br>BNSSG NHS England<br>Early Intervention project: Bristol City Council<br>Innovation Manager project: Lloyds Bank Foundation<br>Sexual Violence Study: The National Lottery<br>_City fund_<br>Mayor's Asset Group<br>Quartet<br>Local access programme<br>Everyday Integration<br>VCSEP<br>Transport grant<br>Workplace wellbeing<br>Barrow Cadbury Connect Fund<br>**Total restricted funds**|At 1 April<br>2020<br>£<br>88,307<br>84<br>887<br>-<br>-<br>-<br>14,319<br>2,104<br>842<br>1,288<br>2,631<br>6,196<br>-<br>-<br>1,069<br>380<br>-<br>118,107|Income<br>£<br>338,118<br>-<br>2,000<br>200,000<br>29,953<br>25,000<br>-<br>-<br>-<br>-<br>-<br>12,293<br>13,125<br>3,000<br>-<br>-<br>14,120<br>637,609|£<br>(366,735)<br>-<br>(1,994)<br>(108,216)<br>(16,380)<br>(11,173)<br>-<br>-<br>-<br>-<br>-<br>(6,817)<br>(10,643)<br>(2,956)<br>-<br>-<br>(8,808)<br>(533,722)<br>Expenditure|£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(380)<br>380<br>-<br>Transfers<br>between<br>funds|**At 31**<br>**March 2021**<br>**£**<br>**59,690**<br>**84**<br>**893**<br>**91,784**<br>**13,573**<br>**13,827**<br>**14,319**<br>**2,104**<br>**842**<br>**1,288**<br>**2,631**<br>**11,672**<br>**2,482**<br>**44**<br>**1,069**<br>**-**<br>**5,692**|
|---|---|---|---|---|---|
||||||**221,994**|



31 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **14. Movements in funds (continued)** 

|**Movements in funds (continued)**||||||
|---|---|---|---|---|---|
|_Designated funds:_<br>Contingency reserve<br>Dilapidations<br>IT (replacements and web development)<br>Strategic development<br>_Total designated funds_<br>**Total unrestricted funds**<br>**Total funds**<br>General funds<br>**Unrestricted funds**|At 1 April<br>2020<br>£<br>146,189<br>30,000<br>30,000<br>20,000<br>226,189<br>142,437<br>368,626<br>486,733|Income<br>£<br>-<br>-<br>-<br>-<br>-<br>126,570<br>126,570<br>764,179|£<br>-<br>-<br>-<br>(14,510)<br>(14,510)<br>(149,278)<br>(163,788)<br>(697,510)<br>Expenditure|£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>Transfers<br>between<br>funds|**At 31**<br>**March 2021**<br>**£**<br>**146,189**<br>**30,000**<br>**30,000**<br>**5,490**|
||||||**211,679**|
||||||**119,729**|
||||||**331,408**|
||||||**553,402**|



32 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

**14. Movements in funds (continued) Prior period comparative** 

|**Restricted funds**<br>_Infrastructure support services_<br>Bristol City Council<br>ERDF<br>Dartington Hall Trust<br>_BME voice and influence_<br>Bristol City Council<br>Care Forum<br>Early Intervention project: Bristol City Council<br>Innovation Manager project: Lloyds Bank Foundation<br>Sexual Violence Study: The National Lottery<br>_City fund_<br>Mayor's Asset Group<br>Quartet<br>Local access programme<br>Transport grant<br>Workplace wellbeing<br>Barrow Cadbury Connect Fund<br>**Total restricted funds**|At 1 April<br>2019<br>£<br>82,274<br>-<br>-<br>87<br>1,193<br>14,319<br>5,663<br>6,145<br>-<br>-<br>-<br>1,069<br>380<br>-<br>111,130|Income<br>£<br>338,118<br>29,737<br>4,167<br>-<br>1,499<br>-<br>-<br>-<br>4,560<br>4,375<br>8,258<br>-<br>-<br>30,000<br>420,714|£<br>(332,085)<br>(29,737)<br>(4,167)<br>-<br>(3)<br>(1,805)<br>-<br>(3,559)<br>(5,303)<br>(3,272)<br>(1,744)<br>(2,062)<br>-<br>-<br>(30,000)<br>(413,737)<br>Expenditure|Transfers<br>between<br>funds<br>£<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-|**At 31**<br>**March 2020**<br>**£**<br>**88,307**<br>**-**<br>**-**<br>**84**<br>**887**<br>**14,319**<br>**2,104**<br>**842**<br>**1,288**<br>**2,631**<br>**6,196**<br>**1,069**<br>**380**<br>**-**|
|---|---|---|---|---|---|
||||||**118,107**|



33 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

**14. Movements in funds (continued) Prior period comparative** 

|**Movements in funds (continued)**<br>**Prior period comparative**||||||
|---|---|---|---|---|---|
|**Unrestricted funds**<br>_Designated funds:_<br>Contingency reserve<br>Dilapidations<br>IT (replacements and web development)<br>Strategic development<br>_Total designated funds_<br>**Total unrestricted funds**<br>**Total funds**<br>General funds|At 1 April<br>2019<br>£<br>146,189<br>30,000<br>30,000<br>-<br>206,189<br>69,834<br>276,023<br>387,153|Income<br>£<br>-<br>-<br>-<br>-<br>-<br>173,439<br>173,439<br>594,153|£<br>-<br>-<br>-<br>-<br>-<br>(80,836)<br>(80,836)<br>(494,573)<br>Expenditure|Transfers<br>between<br>funds<br>£<br>-<br>-<br>-<br>20,000<br>20,000<br>(20,000)<br>-<br>-|**At 31**<br>**March 2020**<br>**£**<br>**146,189**<br>**30,000**<br>**30,000**<br>**20,000**|
||||||**226,189**|
||||||**142,437**|
||||||**368,626**|
||||||**486,733**|



34 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **14. Movements in funds (continued)** 

## **Purposes of restricted funds** 

Funds are restricted by each project's funder, and the funds are used for the purposes described in the trustees' report. 

Some of our restricted funds have been static for at least 2 financial years. Voscur is now, in liaison with original funders, preparing to take up these funds, in accordance with the original agreements. There will be further movement on these funds reported in 21-22. 

## **Infrastructure support services: Bristol City Council** 

Bristol City Council ISSP Grant for the delivery of VCSE activities across the City of Bristol, over six outcomes, delivery of Voscur's core services including support, information, voice and influence, capacity building activities. 

## **BME Voice and influence: Bristol City Council** 

Bristol City Council BME Voice - Community Connector project works to engage and involve black and minority ethnic led VCS groups to be more active in decision making in the city leading to increased knowledge and understanding and influencing skills. 

## **BME Voice and influence: Care Forum** 

Voice and Influence Partnership 2018-2021: a multi-partner collaborative project. Participation in the Project Steering Group to lead, plan and influence the design of delivery activities to meet the key performance indicators mandated by Bristol City Council. 

## **Sport England: Tackling Inequalities** 

Voscur was funded by Sport England to support VCSE organisations from under represented groups to apply to Sport England for funding. Some of these groups may not have even considered some of their physical activity as ‘sport’. Voscur was responsible for assisting the groups to apply, and then to distribute the funding as Sport England approved. There was a balance of £105,357 carried forward which has been taken up during the first 6 months of 21-22. 

## **BNSSG NHS England** 

Voscur received funding to assist with the COVID 19 pandemic. Initially plans were put in place for Voscur to assist those leaving hospital and needing specialised help and assistance. As not all the funding was taken up Voscur has carried the fund forward and is in the process of negotiating with BNSSG over the utilisation of the underspend. 

## **Early Intervention project: Bristol City Council** 

A joint project between Bristol City Council and Voscur to enable effective multi-agency working and build a business case for early intervention in Bristol. This includes identifying barriers to accessing early intervention services, reviewing how these can be reduced and raising awareness of the VCS’s role in early intervention in Bristol. 

## **Consortium Innovation Manager** 

Voscur hosts the consortium innovation manager, as part of a project funded by Lloyds Bank Foundation for England and Wales, to facilitate improved collaboration and better co-ordinated services for the benefits of sexual violence survivors in Bristol. 

35 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **14. Movements in funds (continued) Purposes of restricted funds** 

## **Sexual Violence Study: The National Lottery** 

Voscur is in partnership with the Bristol Sexual Violence Support Consortium. This project, which is funded by Awards For All, is a feasibility study into the potential for consortium members to charge for counselling services. It involves surveying survivors of sexual violence, comparative analysis of other services and proposals for potential development. 

## **City fund: Mayor's Asset Group** 

Unfortunately, due to the pandemic Voscur’s original work programme on this project had to be rescheduled. Therefore the expenditure of this restricted fund was also delayed. The purpose of this programme is to work with Locality and Bristol City Council funded organisations to share learning regarding transfer of assets, shape strategy to support investment in community buildings and develop resources and support for organisations working through the process of acquiring capital assets. 

## **City fund: Quartet** 

This funding was awarded to enable Voscur to use its community networks to gather input and information on how City Funds grants can best be used to support grassroots organisations and projects aligned the City Funds themes. This work will continue to be delivered utilising this restricted fund. 

## **Local Access Programme** 

This programme, funded by the Access Foundation and Big Society Capital, supports the development of a place-based social enterprise and investment programme. During 19-20 Voscur’s priority has been to scope a design phase for the partnership to take it from a proposal, to a detailed delivery plan, which we are hoping to complete, and gain approval for in early 2021. 

## **Everyday Integration** 

Everyday Integration is a collaborative research and action project developing an approach and tools to foster inclusion across the city – starting from the perspective of ordinary people in their day to day lives. Led by the University of Bristol, with Voscur, Black South West Network, ACH and Eastside Community Trust as key partners, the project explores the integration and inclusion in terms of work, learning and social life, mobility, culture, democracy and economics. It will produce a practical toolkit to support effective approaches in early 2022 and support inclusion forums across the city. 

## **VCSEP** 

The Voluntary & Community Sector Emergency Partnership (VCSEP) is a national network established to support community resilience and mitigate large-scale social incidents. During the pandemic, its work focused on identifying unmet needs in communities that VCSE organisations were called on to help address. Voscur contributed intelligence from Bristol into the national network and responded to specific local requests for support, such as mobilising volunteers for mass testing and vaccination. 

## **Transport grant** 

Grant to support 50% of costs for an organisational sustainable transport policy via Travel West and BCC. 

36 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **14. Movements in funds (continued) Purposes of restricted funds** 

## **Workplace wellbeing** 

Workplace wellbeing charter grant was received for sporting activities. 

## **Barrow Cadbury Connect fund** 

A collaboration with Bristol and Bath Regional Capital to provide long-term support (two years) to VCSE groups that want to increase their future sustainability through social enterprise/investment. 

## **Purposes of designated funds** 

## **Contingency reserve** 

Voscur considers it prudent, should funding streams no longer be available, or delays in receiving agreed funds, to ensure that a suitable reserve (aiming for three months running costs) is maintained to ensure continuation of current service levels. 

## **Dilapidations** 

This designated reserve has been established so that in the event that Voscur moves to different premises we are able to make good any potential dilapidations, decorations, etc. to the existing premises. 

## **IT (replacements and web development)** 

This designated reserve has been established in order to support the agreed development of the Voscur website and the update/upgrades required to our IT systems. 

## **Strategic development** 

This designated reserve has been created to provide sufficient funds for Voscur, as a developing organisation, to ensure that all infrastructure and human resources requirements are robust. In the near future this may include further developments across a number of areas and suitable support and legal advice may be required. This fund will provide the necessary support for this. 

## **15. Related party transactions** 

As Voscur is an umbrella organisation for the voluntary and community sector (VCS) in Bristol, most members of the board of trustees are also in management positions in organisations which are members of Voscur. These members each pay a fee to Voscur of between £50 and £120 per annum. At various times, Voscur also purchases the services of member organisations associated with Trustees. These are generally for room hire/events services and are done at arms length and in line with Voscur's financial procedures policy. 

Joanna Holmes, a trustee of Voscur until November 2020, is also Co-Director of Barton Hill Settlement.  In the prior year Voscur purchased services from Barton Hill Settlement totalling £42. There were no amounts outstanding at the year end. Joanna Holmes is also a member of the Business Panel of Power to Change. During the year, Voscur received income totalling £6,400 from Power to Change for consultancy work (2020: £600 for consultancy). At 31 March 2021, £3,400 was outstanding (2020: £600). 

37 



## **Voscur Limited** 

## **Notes to the financial statements** 

## **For the year ended 31 March 2021** 

## **15. Related party transactions (continued)** 

Samantha Thomson, a trustee of Voscur, is also a director of Horfield Common CIC. During the prior year Voscur purchased refreshments from the CIC totalling £60. There were no amounts outstanding at the year end. 

Sian Jones, a trustee of Voscur, is also a trustee of The Carers Centre. During the year, Voscur received income totalling £3,352 from The Carers Centre for consultancy, training and job advertisements (2020: £1,045 for training and job advertisements). At 31 March 2021, £1,532 was outstanding (2020: £nil). During the year, Voscur provided a grant to The Carers Centre of £5,267 for the Tackling Inequalities project (2020: £nil). There were no amounts outstanding at the year end. 

Ellie Collier, a trustee of Voscur, is also the CEO of Arnos Vale Cemetery Trust. During the year Voscur received income of £75 from Arnos Vale for job advertisements (2020: £35). At 31 March 2021, there were no balances outstanding (2020: £nil). 

Sandra Meadows, Chief Executive of Voscur, is also a director of WoECSP (West of England Civil Society Partnership CIC). During the prior year Voscur paid a start-up contribution of £1,500 to WoECSP. There were no amounts outstanding at the year end. 

Will Bee, the husband of Lin Whitfield, a trustee of Voscur, is the Vice President of the Quartet Community Foundation. During the year, Voscur received income totalling £15,452 from the Quartet Community Foundation for BCC Sector Support funding, training and job advertisements (2020: £25,450 for BCC Sector Support funding and job advertisements). There were no amounts outstanding at the year end. During the year, Voscur provided pro bono voluntary sector support and purchased phone system services totalling £17,027 from the Quartet Community Foundation (2020: £2,027 for phone system services). At 31 March 2021, £15,405 was outstanding (2020: £203). 

38 





Royal Oak House Royal Oak Avenue Bristol BS1 4GB 0117 909 9949 www.voscur.org 

Alison Godfrey FCA Godfrey Wilson Limited Chartered Accountants & Statutory Auditors 5[th] Floor Mariner House 62 Prince Street Bristol BS1 4QD 

25 November 2021 

Dear Alison 

## **Letter of Representations on the Financial Statements for the Year Ended 31 March 2021** 

This representation letter is provided in connection with your audit of the financial statements of the charity for the year ended 31 March 2021. 

We confirm that the following representations are made on the basis of enquiries of the trustees, management and staff with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the following representations to you: 

1. We have fulfilled our responsibilities as trustees, as set out in the terms of your engagement letter dated 3 July 2018, under the Companies Act 2006 for preparing financial statements, in accordance with 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). 

We confirm that in our opinion the financial statements give a true and fair view and in particular that where any additional information must be disclosed in order to give a true and fair view that information has in fact been disclosed. We confirm that the selection and application of the accounting policies used in the preparation of the financial statements are appropriate, and we approve these accounts for the year ended 31 March 2021. 

2. We confirm that all accounting records have been made available to you for the purpose of your audit, in accordance with your terms of engagement, and that all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management, trustees’ and members’ meetings, have been made available to you.  We have given you unrestricted access to persons within the charity in order to obtain audit evidence and have provided any additional information that you have requested for the purposes of your audit. 

3. We acknowledge that it is a criminal offence to make a false statement in this regard, and where any director either makes a false statement; is aware that the statement is false; is reckless in preventing this statement; or fails to take reasonable steps to prevent the trustees’ report from being approved, we acknowledge that each director will be guilty of a criminal offence. 

4. We confirm the charity has satisfactory title to all assets and there are no liens or encumbrances on the assets, except for those disclosed in the financial statements. 




5. We confirm that significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable. We confirm that we have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements. 

6. We confirm that the charity has no liabilities or contingent liabilities other than those disclosed in the financial statements. 

7. We confirm that all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements have been disclosed to you and accounted for and disclosed in accordance with the applicable financial reporting framework. 

8. We confirm that there have been no events since the balance sheet date which require disclosing or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements. 

9. We confirm that we are aware that a related party of the charity is a person or organisation which either (directly or indirectly) controls, has joint control of, or significantly influences the charity or vice versa and as a result will include: trustees/directors, other key management, close family and other business interests of the previous. We confirm that the related party relationships and transactions set out in appendix 1 are a complete list of such relationships and transactions and that we are not aware of any further related parties or transactions. 

10. We confirm that the charity neither had, at any time during the year, any arrangement, transaction or agreement to provide credit facilities (including advances and credits granted by the charity) for trustees, nor provided guarantees of any kind on behalf of the trustees. 

11. We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements. 

12. We confirm that the charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance. 

13. We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its activities and which are central to the charity’s ability to conduct its activities, except as explained to you and as disclosed in the financial statements. 

14. We acknowledge our responsibility for the design, implementation and maintenance of internal controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our risk assessment of the risk of fraud in the organisation. There have been no deficiencies in internal control of which we are aware. 

15. We confirm that there have been no actual or suspected instances of fraud involving trustees, management or employees who have a significant role in internal control or that could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud by trustees, former trustees, employees, former employees, regulators or others. 

16. We confirm that, in our opinion, the charity’s financial statements should be prepared on the going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. In reaching this conclusion, we have taken into account all relevant matters of which we are aware, and have considered a period of at least one year from the date on which the financial statements will be approved. 

17. We confirm that in our opinion the effects of uncorrected misstatements are immaterial, both individually and in aggregate, to the financial statements as a whole. A list of the uncorrected misstatements is set out in the management letter. 

Page 2 of 4 



18. We confirm that we are not aware of any matters of material significance that should be reported to regulators. We confirm that all correspondence with the Charity Commission has been made available to you. 

19. We confirm that all grants, donations and other income, including those subject to special terms or conditions or received for restricted purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such income. 

20. We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that: (a) so far as each trustee is aware, there is no relevant audit information of which you as auditors are unaware; and (b) each trustee has taken all the steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that you are aware of that information. 

21. We acknowledge that it is a criminal offence to knowingly or recklessly make you as an auditor, a statement (oral or written) that conveys, or purports to convey, information or explanations that you require in your capacity as auditor, or are entitled to require, that is misleading, false or deceptive in a material particular. 

Yours sincerely 

## Lin Whitfield 

Lin Whitfield – Chair 

For and on behalf of the trustees of Voscur Limited 

Page 3 of 4 



## **Appendix 1: Summary of Related Parties** 

## **Connected Organisation** 

## **Name** 

## **Nature of Connection** 

Barton Hill Settlement Joanna Holmes Co-Director Power to Change Joanna Holmes Member of Business Panel The Carers Centre Sian Jones Director Horfield Common CIC Samantha Thomson Director Arnos Vale Cemetery Trust Ellie Collier CEO West of England Sandra Meadows Director Civil Society Partnership Quartet Community Foundation Lin Whitfield Husband, Will Bee is Vice President 

Page 4 of 4