Company no. 03918210 Charity no. 1148403
## **Voscur Limited Report and Audited Financial Statements 31 March 2022**
**Serving the VCSE sector in Bristol since 1995**
## **Voscur Limited**
## **Reference and administrative details**
**For the year ended 31 March 2022**
|**Company number**|03918210||||
|---|---|---|---|---|
|**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|||
||Philip Barry|Treasurer|Appointed 25 November 2021||
||Matthew Wortley|Treasurer|Resigned 1 November 2021||
||Kamaljit Poonia|Vice-chair|||
|**Other trustees**|Ellie Collier||||
||Christoper Egitto||||
||Sally Fox|Appointed 25 November 2021|||
||Albert Gardiner|Appointed 25 November 2021|||
||Ed Norton|Appointed 25 November 2021|||
||Sian Jones|Resigned 25||November 2021|
||Thanh Quan-Nicholls||||
||Diane Robinson|Resigned 25||November 2021|
||Vita Terry||||
||Samantha Thomson||||
|**Chief executive officer**|Sandra Meadows|Resigned 31||March 2022|
|**and company secretary**|Mark Hubbard (interim)|April - August 2022|||
||Rebecca Mear|Appointed 1 September 2022|||
|**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 2022**
The trustees present their report along with the financial statements of the charity for the year ended 31 March 2022. 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 company is governed by its Memorandum and Articles of Association. In the event of the company 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. Thirteen trustees must be nominated by member organisations. 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 and delegates the day-to-day management of the organisation to the Chief Executive who is a paid member of staff. 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. During the year, the Board started to discuss the potential for changes to the Resources Committee – for it to retain a focus on finance, with HR and wellbeing matters as the focus of a new HR Committee.
## **Trustee induction and training**
Voscur provides an 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.
## **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. Voscur is a Living Wage Employer, and all staff are paid above the Real Living Wage.
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## **Voscur Limited**
## **Report of the trustees**
## **For the year ended 31 March 2022**
## **Risk statement**
Trustees review the major risks to which the charity is exposed and work with the management team to continually develop systems and procedures to manage and mitigate those risks.
## **Introduction**
Voscur Limited (Voscur) is the key support and development agency for the voluntary, community and social enterprise (VCSE) sector in Bristol. Voscur is 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 more than 25 years, we have worked with Voluntary, Community and Social Enterprise organisations to enable them to learn, influence policy and strategy, secure funding and other resources, and collaborate and share 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 VCSE sector continues to recover from the Covid-19 pandemic and respond to the cost-of-living crisis. In this context, our work is increasingly focused on those VCSE organisations that work with communities that experience the greatest inequality and disadvantage. This is aligned with many city initiatives, funders’ strategies and the VCSE Strategy – this common purpose serves to ensure that valuable resources secured by VCSE sector organisations and Voscur produce the most equitable impact in communities that have experienced historic, entrenched, systemic inequalities.
As the year ended, VCSE sector organisations were grappling with the cost-of-living crisis and its impact on communities, staff, volunteers and organisations. There has been much learning from the Covid-19 pandemic and the partnership approach from that period. As with the pandemic, Voscur is playing a pivotal role in convening, co-ordinating, supporting and informing the sector, our partners and stakeholders as part of the Bristol’s response to the current crisis.
During the year, our services continued to adapt to the sector’s changing needs and strengths. We are pleased that our work to enable the VCSE sector continues to be supported by Bristol City Council, Sport England, Local Access Programme, University of Bristol, The Care Forum, Wesport, VCSEP, Quartet Community Foundation, Bristol Refugee Rights, BNSSG NHS England. In addition to funded programmes, we worked with many community organisations as part of our charged services: thanks to Bristol & Bath Regional Capital, Hillfields Family & Community Trust, SARSAS, Power to Change, Cleveland Pools Trust, Creative Youth Network, Black 2 Nature, Bristol Refugee Rights, Self Injury Support, Voluntary Action North Somerset (VANS), Bristol Bike Project, and Carers Support Centre.
The end of 2021-22 saw the departure of our CEO, Sandra Meadows, who for 4.5 years inspired and led Voscur through the initial stages of our transformation to a modern CVS. We are immensely grateful to Sandra and wish her well as she returns to the world of freelance consultancy. Our journey continues under the leadership of our new CEO, Rebecca Mear, who will join us in September 2022.
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. Building on our partnerships and collaborative approaches is crucial to VCSE sector resilience and success – after the Covid-19 pandemic and through the cost-of-living crisis, Voscur is here to enable amazing things to happen in communities.
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
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## **For the year ended 31 March 2022**
reimagine the sector post Covid-19, we will be intentional about maintaining the One City approach and supporting the cross-sector work that has proved so effective.
Lin Whitfield
Lin Whitfield Rebecca Mear **Chair of Trustees Incoming Chief Executive Officer**
## **Our mission**
To be the enabling mechanism providing leadership, development and support that maximises the social purpose and positive impact of VCSE organisations in 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;
- 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.
## **Ensuring our work delivers our charitable aims and objectives**
## **Highlights for the year 2021-22**
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## **Service delivery - Bristol City Council Infrastructure Support Contract**
During the year, we worked to ensure that delivery of the Infrastructure Support Services grant on behalf of Bristol City Council for the VCSE sector was aligned with our charitable objectives and strategic aims. Infrastructure Support Services income was 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 the 2021 report – ‘Designing a New Social Reality’ – which followed sector-wide research led by Black South West Network, in partnership with Voscur and Locality.
## **Support and advice activities**
According to customers’ situations and requests, advice and support sessions focussed on survival, change and community support rather than longer-term organisational development with a gradual increase in groups seeking start-up advice as we moved out of the Covid-19 pandemic.
During late 2021, we also supported ongoing pandemic responses activities, notably the recruitment of vaccination volunteers and working with VCSE groups to promote vaccination to their respective communities.
As we moved from mainly online advice and support back to face-to-face advice, our team focused on reaching out to a greater variety of organisations in 2021-22, with 214 unique organisations supported by 296 advice and guidance sessions.
## **Policy and information services**
Our policy and information services through the year included the following:
Leading the VCSE response to Bristol City Council’s One City Race Equality Data project
The Race Equality Data project is a One City initiative to collate and analyse racial diversity in Bristol’s employers. This includes all aspects of HR, including recruitment, invitation to interview, appointment, remuneration, progression, disciplinary, grievance and redundancy. It aims to identify through data and evidence practices that may directly or indirectly discriminate and then take action to ensure racial inequalities are addressed. The first two iterations of the data product focussed on larger employers, for example, the local authority, universities and large businesses – i.e. those with more resourced HR functions. The VCSE comprises many micro and small organisations that commonly do not have such resources. Recognising the importance of sector participation in addressing racial inequality, we managed a process that, for the first time, included VCSE data in the 2021 data product.
We targeted 20 VCSE organisations with 50+ employees – all were contacted (at Board level) with a request to take part in the project, and nine of them took part. These were: Bristol Drugs Project, Wellspring Settlement, Windmill Hill City Farm, Creative Youth Network, Watershed, Dhek Bhal, Milestones Trust, Freeways, and Brentry and Henbury Children’s Centres. Key information from the research includes:
- The nine participating organisations were able to provide data for a total number of 1,906 employees in the sector;
- The VCSE sector contribution helped reach the 50,000 milestone for the research overall;
- The VCSE contribution to the research meant that the number of participant agencies increased from 11 in version 1 to 26 in version 3; and
- The 2021 data product included board and executive ethnicity data for the first time, as well as reporting on diversity within participatory organisations, and pay bandings by ethnicity group.
The Power of Community report
The Power of Community – a joint research project managed by Voscur and the University of Bristol – demonstrated how collaboration between local authorities, established service providers and newly
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formed Covid-19 response groups helped to ensure that services continued to be delivered, at the same time utilising the many new volunteers who had been furloughed from their normal jobs. Project highlights include:
- Over 150 interviews with local VCSE organisations;
- Key recommendations included the sector request to democratise the voluntary sector, the opportunity for further partnership between business and homelessness charities, and the need for digital access to be treated as a utility;
- Launch event, with speakers and attendees from the sector;
- Report shared on Voscur’s website, with report participants, councillors, MPs, and via the Institute for Community Studies and University of Bristol; and
- Finally, the two students who have graduated since their involvement in the research have both taken roles in the VCSE sector, with both requesting references from Voscur as part of the recruitment process.
## Democratic Forum
The Black South West Network report, Designing a New Social Reality, recommended that “the entire city socio-economic infrastructure works with the VCSE Sector to build a democratic forum for discussion designed to ensure the sector is fairly represented at all key decision-making tables”.
To this end, Voscur engaged the sector through 2021 and early 2022, with the resulting sector view now informing the work. Partner views sought during this time included:
- Equalities groups – including Bristol Disability Equality Forum, Babbasa, Malcolm X Community Centre, Off the Record; and
- Voscur’s Sector Leaders’ Network – including Bristol Black Carers, BS3 Community, Barnardo’s, 1625 Independent People.
## Digital information via Voscur’s media channels
The period shows encouraging progress in engagement across Voscur’s various communications channels: website, bulletin subscribers and social media.
- Website – 1.4m page views during the year (compared to 1.3m from the previous year);
- Bulletin – 2,030 recipients at end of year (1,915 at the same point in the previous year); and
- Facebook – 1,989 page visits at end of year (677 at the same point in the previous year).
## **Voice and influence**
Our work to influence public policy on behalf of the VCSE sector continued during the year. Our approach is based on intelligence that comes from the sector through our staff team, Trustees and Sector Leaders. We aim to strengthen and amplify the voice of communities of place (i.e. grass-roots) and interest and the views of those with lived experience.
Examples of our influencing work include:
- Sector Leaders’ Network – agenda items during the year – see policy and information section above:
- Creating a Democratic Forum for the city’s VCSE organisations;
- Bristol’s race equality data product; and
- Bristol’s response to the Covid-19 pandemic.
- City leadership – Voscur senior staff (CEO and Development Director) contribute VCSE sector perspectives to discussions in city leadership Boards and Committees:
- Bristol City Funds Governing Board;
- City Funds Investment Advisory Committee;
- Local Access Programme Management Board;
- One City Leaders Group;
- Bristol Race Equality Strategic Leaders;
- Bristol Women’s Commission;
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- West of England Civil Society Partnership CIC; • Sector Leaders Network; • Core Cities UK CVS Group; • NAVCA Anti Racist Group; • Armed Forces Covenant; • Western Harbour Advisory Group; • VCSE Strategic Group; • Keeping Bristol Safer Partnership Board; • Covid-19 Local Engagement Board; • HM The Queen Platinum Jubilee Planning Committee;
- County Leaders Summit;
- Dementia HIT Quarterly Meeting; and
- International Strategy Board.
- Consultations carried out during the year, with results shared in various fora:
- What are the current or emerging issues your organisation is facing?
- Elections 2021: What do VCSE organisations want from the candidates? and • How has the Coronavirus pandemic impacted on your organisation’s finances?
Our work on the Bristol, North Somerset and South Gloucestershire (BNSSG) Integrated Care System continued through the year. Originally funded through the NHS England & Improvement-funded work (‘Embedding the VCSE sector in Integrated Care Systems’ programme’), we have maintained our involvement in the developing system through the West of England Civil Society Partnership. Working closely with other BNSSG VCSE infrastructure organisations and the six VCSE Locality Lead partners, we are working to present a helpful, coherent VCSE sector voice that supports the ICS to develop its engagement with the VCSE sector. As the year ended, we were involved in the VCSE participation in, for example, forming the Integrated Care Partnership Board and made representations about the need for remuneration to enable VCSE participation.
## **Fundraising and income generation**
Customers’ interest in fundraising support has remained high as the sector continued its Covid-19 response and recovery and adapted to the cost-of-living crisis that developed late in this period.
Throughout the year we have been working closely with funders and commissioners through the VCSE Strategy Group and the Bristol 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 Covid-19 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 Voscur.
Whilst a number of organisations were working to diversify income streams, some organisations, particularly start-ups, continued to seek out opportunities for trading and/or social investment. This is in line with VCSE Strategy objectives and the plans for the future sustainability of the sector. The full negative impact of Covid-19 on the VCSE sector’s financial resources was partly offset during the year before by emergency grants. Many organisations felt the impact of these grants expiring during 202122, as they adapted their pre-pandemic operating models to a new era.
Our work on developing social enterprise continued through the year. The demand for social investment is slowly increasing with the benefits of enterprise and trading models steadily gaining traction. It is clear that supporting the development of trading/enterprise support could be expanded further to build and strengthen the pipeline, particularly for small- and medium-sized organisations. Our work in the Bristol Local Access Programme (LAP) and City Funds Governing Board expanded with a proposal to provide enterprise development support, along with the School for Social Entrepreneurs and Black South West Network. Our programme will involve matching enterprise/trading people from already trading VCSE organisations, with those that want to develop trading activities. This, and an enterprise leadership
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programme to support new traders/entrepreneurs, is intended to bring VCSE organisations closer to sustainable models and social investment finances. Additionally, Voscur has been actively involved in the City Funds Investment Advisory Committee as the LAP Programme Management Board representative.
Our partnership with Wesport under the Sport England Tackling Inequalities programme expanded during the year. Our partnership secured an additional £309,952 to distribute to community organisations for providing sport/physical activities, and to provide Support & Resilience activities so that they could respond to the ongoing impact of the Covid-19 pandemic. Aimed at communities disproportionately affected by the pandemic, our work successfully reached target audiences: 38% of funds/support to culturally diverse organisations/communities; 29% to lower income communities; 17% to people with long-term health conditions; and 16% to disabled people/organisations. Voscur’s Support & Resilience activities included 30 support sessions, 96 participants, and 62 organisations. 83% of the groups/organisations had not received sports funding previously – a good example of Voscur’s role in brokering resources into complex communities.
## **Capacity building support**
Demand for advice and support has continued as organisations were adapting to the new postpandemic normal. This is likely to continue as organisations sought to re-start or expand their operations and take on new initiatives and ways of working. Governance and organisational development issues that required intensive support has continued with the capacity and resources of Boards and operational staff teams still under pressure.
During the latter part of the year, we started to transition our capacity building services to the new model included in our Enabling the Voluntary & Community Sector grant application. This gradual shift to a more differentiated (rather than universal) offer to groups is in line with our longer-term business plan and allows more intensive work with VCSE organisations of and for communities that experience the greatest inequality. The programme includes a strong focus on serving communities that experience the greatest inequalities, through targeted services – a shift from the current universal/ open access services – and delivery in partnership with place-based organisations across Bristol.
## **Start-up/outreach**
Face to face outreach sessions were restarted in October 2021, with a further break at the start of 2022 due to additional Covid-19 precautions. Sessions continued to focus on groups in priority (i.e. most disadvantaged) neighbourhoods and were delivered equally in the north, south and east of the city.
Funding advice continued to be the most requested support at outreach session followed by start-up support for new and up and coming groups.
As we moved back to face-to-face work, we focussed on developing and establishing our connections with key anchor organisations in the priority neighbourhoods, including Easton Community Centre in the east, The Greenway Centre in the north and Hartcliffe and Withywood Community Partnership in the south, amongst others.
## **Collaboration and partnership development**
As with other services, our work to support sector organisations to collaborate was targeted on identified priorities. Examples include:
## Bristol Refugee & Asylum Seeker Partnership (BRASP)
Working closely with Bristol Refugee Rights, we supported this partnership to develop further through the year. It involves a meaningful collaboration of 16 organisations in Bristol and the surrounding area, all with a focus on refugee and asylum seeker issues. The organisations range in size, purpose and history, but we have brought them together and established a common vision and values:
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## **Voscur Limited**
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- Vision: that all refugees and asylum seekers enjoy healthy and fulfilling lives in Bristol, have a voice and their needs are met by an effective, unified and sustainable sector; and
- Partnership values:
- Lived experience-led – we believe that the comprehensive involvement of refugees and asylum seekers in the partnership is key to success;
- Empowerment – we work to empower each other and refugees and asylum seekers to build on our existing skills, organisations and resources;
- Inclusive – we believe that our organisations’ different approaches, histories and purposes make a combined offer that responds to the diversity of refugees and asylum seekers’ lives and wishes; and
- • Solidarity – we work together as an effective, unified and sustainable sector to provide the best possible support to refugees and asylum seekers.
Our work during the year included facilitation of the partnership to define its strategic priorities:
- Operational collaboration – to work together to provide the best services;
- Infrastructure/governance – working together more effectively to achieve better outcomes;
- Strategic voice and influence – asylum seekers, refugees and migrant voices will be heard; and
- Funding – services will be sustainable, effective and efficient. We will continue to work towards our aim of a self-sustaining and sustainable partnership.
On the foundations developed over the year and on behalf of the BRASP Steering Group, Bristol Refugee Rights and Voscur successfully obtained funds for BRASP’s further development. These funds, which are being managed by Bristol Refugee Rights on behalf of BRASP, allowed us to appoint a team of a new Refugee Participation Officer, Partnership Services Coordinator and Partnership Development Officer (employed by Voscur). BRASP has become the ‘go to’ space for engaging with the refugee and asylum seeker sector and leading on refugee participation. BRASP is actively involved in resettlement programmes and, for example, supporting people who have been dispersed to hotels to access services and support.
## LGBTQ+ partnership
During the year, it became clear that the VCSE sector in Bristol that serves the LGBQT+ community was seriously underdeveloped. There is a small number of organisations of the community and a few services for the community. In recent years, some organisations, such as LGBT Bristol, have closed for lack of funding and support.
Voscur therefore initiated a positive action strand to understand the situation, build on community assets and to enable a new LGBTQ+ partnership. We started to work in partnership with OUTspace CIC to investigate the LGBTQ+ VCSE sector and to support OUTspace to create a new LGBTQ+ community space.
It is our intention that, by strengthening the LGBTQ+ VCSE sector in Bristol and building provision strategically and systematically, VCSE organisations led by and for LGBTQ+ people will benefit from stability, collective voice and increased provision.
## West of England Community Transport Network
The network has gradually developed with monthly online meetings held in partnership with WERN. The organisations range in size and reach and it was important to bring these together to strengthen their voice. The network enables organisations to share knowledge, resources, develop new connections and raise issues/concerns.
In early January Voscur undertook an online survey of 58 community transport organisations to identify the support and sustainability needs of organisations in the network and to obtain a more accurate picture of the service offer across the wider Bristol area. This was followed up with 20 in-depth telephone interviews in February to capture further information and learning.
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## **Report of the trustees**
## **For the year ended 31 March 2022**
Key findings from the report:
- Passenger numbers have only rebounded to 65-75% of pre-Covid levels, resulting in lower income for organisations;
- Driver recruitment (paid and unpaid) is increasingly becoming harder;
- The need to move from the traditional ‘older person’ model of a service to a universal service to ensure organisational sustainability;
- Gaps in provision at ‘cross border’ locations between provider geographic boundaries are resulting in ‘hidden people’ being unable to access a joined-up service;
- Cost cutting has led to more focus on towns and cities with rural areas missing out;
- Greater collaboration is needed to improve efficiency and drive cost cutting;
- The challenge to upgrade larger fleet vehicles to Bristol’s CAZ requirements and to meet the wider government environmental transport goals; and
- The need for a sector-wide marketing strategy.
Voscur will continue to support the growth and development of the network into 2022-23.
## **Activities for generating funds** Membership
On 31 March 2022, Voscur's membership comprised 225 organisations with full membership and three individual memberships. 16 organisations from outside the sector affiliate to Voscur. 43 organisations with an income of less than £10,000 per annum received free full membership.
## Open learning opportunities and sector events
Our VCSE Academy continued to develop during the year, with the delivery of training to 422 organisations and 366 individuals from the VCSE sector. Of these, 97% 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 offered 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.
## Recruitment advertising
Revenue income from online job advertising during 2021-22 was £76,429, an increase of 73% on the previous year. This increase was due to a busy VCSE sector jobs market, with a great deal of movement within, out of and into the sector during the Covid-19 pandemic. Voscur offered a regular and comprehensive list of the job opportunities available in Bristol and the surrounding area. During the time period, 27% of all visits to the Voscur site during the financial year were job related.
## Consultancy services
Charged services remain central to our work and Voscur’s sustainability. During the year, we provided charged services to many VCSE organisations, including Carers’ Support Centre, Hillfields Family & Community Trust, Cleveland Pools Trust, Black 2 Nature, Creative Youth Network and more. These services included:
- Organisational review;
- Support for Chair of Trustees and Board training;
- Service evaluation;
- Peer broker programme;
- Programme development;
- Trustee Board development;
- Evaluation of partnership programme;
- Review and update of safeguarding policies;
- Partnership and organisation development;
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- Performance review; and
- Interim management support.
By providing charged services, we are able to provide specialist, responsive services for individual organisations and partnerships. Such tailored work is not covered by our main grants/contracts and provides significant support/advice to many VCSE organisations and collaborations.
## **A word of thanks**
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, Trustees, Associates, partners, stakeholders and supporters who together ensure that Voscur continues to deliver muchneeded leadership, support and development to the VCSE sector in the Bristol area.
## **Financial review**
After the year of disruption due to the Covid-19 pandemic, its impact continued into 2021-22 with intermittent lockdowns and restrictions on workplaces and social gatherings. This meant that Voscur faced another challenging but productive year. However, given the organisation’s experiences and adaptations during 2020-21, Voscur continued to develop and deliver the complete range of services to support the VCSE sector in challenging times. Voscur also continued to liaise closely with Bristol City Council to ensure that the VCSE sector was represented and connected.
We are pleased to report that our funding from Bristol City Council was extended for the 2021-22 financial year at the same level as the preceding year. The extension was due to the disruption caused by the pandemic and so that services to support the VCSE sector during the pandemic could be maintained. We have also achieved funding awards for new programmes of work commencing in 202223. These include a development in the Local Access Programme (focussed on social investment) and a new programme funded by the West of England Combined Authority (focussed on VCSE career and skills development). Voscur was successful in applying for, and being awarded, funding for the Enabling the Voluntary & Community Sector grant from Bristol City Council. This programme provides funding for the next four financial years (from 1 April 2022), although the funding will be reduced over the last two years. Overall, this continued funding will provide a stable financial base as Voscur moves forward.
Our unrestricted self-generated income increased during 2021-22. This increase was primarily in our charged consultancy work with individual organisations and our job advertising service. The job adverts achieved record income, mainly due to the volatile job market resulting from the Covid-19 pandemic and its impact on organisations and on individuals’ changes of thinking and circumstance.
Our staffing expenditure also increased during the year as Voscur, like many other employers, experienced changes based on the impact of the Covid-19 pandemic and some funding insecurity. By engaging our Associates, all skilled consultants, we were able to mitigate the impacts of these staffing changes. At the end of 2021-22 some positions were still vacant, although recruitment was underway to ensure that the staff team was back up to strength.
Voscur is in a stable financial position moving into 2022-23, with funding agreed for a variety of projects. We are working to increase our unrestricted, self-generated income through a range of enhanced services. The development of the VCSE Academy is also still in progress and the range of training and learning activities we plan to deliver has been increased with a number of new topics under development.
## **For the year 2021-22**
During 2021-22 our overall income decreased to £629,011, (£764,179 in 2020-21). This is primarily due to the one-off Sport England grant that Voscur received during 2020-21. Our expenditure increased to £708,609 (£697,510 in 2020-21). This was also due to the effect of the Sport England grant and the disbursement of the restricted balance of this fund carried forward from 2020-21. At the end of 2021-22
11
## **Voscur Limited**
## **Report of the trustees**
## **For the year ended 31 March 2022**
Voscur generated a deficit of £79,598 compared to a surplus of £66,669 in 2020-21. The substantial decrease in net assets from 2020-21 is the result of the take up of the restricted Sport England funding.
Over 2021-22 the funds held by Voscur decreased, mainly in restricted funds. Also contributing to the decrease in this area was the take-up of the balance of the Sport England funding received during 202021 that continued into 2021-22 in the form of grants awarded to smaller local organisations. Our designated funds also decreased slightly (from £211,679 to £206,328) due to the final financial impact of the unsuccessful merger negotiations from 2020-21 and the re-organisation of the Voscur office. We are pleased to report that our general unrestricted funds increased, primarily as a result of the increase in unrestricted, self-generated income.
## **Reserves policy**
Voscur seeks to raise and maintain sufficient funds in the reserves accounts to cover the following contingencies:
Voscur seeks to maintain a Staff Contingency designated 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.
Overall, our designated reserves have decreased slightly over 2021-22 financial year. This is due to the re-organisation of the Voscur office, prior to the lifting of Covid-19 restrictions. This reduced our Dilapidations designated reserve by £4,832 to £25,168.
The final costs of the unsuccessful merger negotiations with The Care Forum took up a further £519 from the Strategic Development reserve (leaving a balance of £4,971).
Our IT (replacements and web development) designated reserve was not used during 2021-22 and stands at £30,000.
## **General reserve**
Voscur’s general reserve at 31st March 2022 had increased by £21,424 to £141,153 (£119,729 in 202021). A substantial proportion of this increase was generated via our increased self-generated income (membership, job adverts, consultancy and training). As the income generated through these services is unrestricted it is allocated to our general reserve, and this is available to be utilised in line with the Trustees’ wishes. Voscur is very encouraged by this increase in the general reserve, especially given the current financial pressures on all voluntary sector organisations.
## **Going concern**
Voscur had a general unrestricted reserve balance of £141,153 at 31 March 2022 (£119,729 at 31 March 2021). The increase in our general reserve is directly related to our increase in unrestricted income. As we continue into 2022-23 there are increasing pressures on voluntary sector organisations and this general reserve will give a level of financial stability moving forward.
Voscur was successful in its bid to Bristol City Council for the Enabling the Voluntary Sector funding, which was awarded at the end of the financial year 2021-22. This will provide confirmed income for this programme for the next four financial years. Voscur is due to receive £236,608 from Bristol City Council which will be supported by an additional £80,000 from Quartet Community Foundation. This funding will have a significant impact on Voscur’s continued financial stability and the development of its services. Voscur has also been successful in attracting a number of smaller funds for specific projects as we move into 2022-23.
12
## **Voscur Limited**
## **Report of the trustees**
## **For the year ended 31 March 2022**
The self-generated income streams (membership, job adverts, consultancy and training) are an area of focus for the Board of Trustees and Senior Management Team, and strategies to increase these sources of income, whilst still meeting Voscur’s core objectives, are regularly reviewed.
Moving into 2022-23 Voscur is monitoring its ongoing financial position regularly, with particular attention on income generation and reducing expenditure. The Trustees feel that the current financial position will enable Voscur to continue to provide a high level of support and service to the voluntary sector. The Trustees are keen for Voscur to develop and increase its self-generated income through 2022-23 and are considering how our services can be enhanced as we move forward.
The Trustees are confident that as Voscur moves forward into 2022-23 there will be further developments of a range of funding programmes and services to beneficiaries that will enable the organisation to consolidate its development so far. The Trustees are confident that Voscur is a going concern based on its ongoing financial position.
## **Statement of responsibilities of the trustees**
The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the net income or expenditure, of the charitable company for the year. 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 applicable Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable 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 charitable company 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 charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's 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 charitable company guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The trustees are members of the charitable company, but this entitles them only to voting rights. The trustees have no beneficial interest in the charitable company.
13
## **Voscur Limited**
## **Report of the trustees**
## **For the year ended 31 March 2022**
## **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 1 December 2022 and signed on their behalf by:
## Lin Whitfield
Lin Whitfield – Chair of trustees
14
## **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 2022 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 2022 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.
15
## **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 fact.
We have nothing to report in this regard.
## **Opinion on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the 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.
16
## **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.
17
## **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: 5 December 2022
## **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
18
## **Voscur Limited**
**Statement of financial activities** _(incorporating an income and expenditure account)_
## **For the year ended 31 March 2022**
|Note
**Income from:**
Donations
Charitable activities
3
Investments
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
5
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**
**Net income / (expenditure)**
**and net movement in funds**|Restricted
£
-
447,596
-
447,596
-
543,267
543,267
(95,671)
221,994
126,323|Unrestricted
£
1,126
180,238
51
181,415
15,883
149,459
165,342
16,073
331,408
347,481|**2022**
**Total**
**£**
**1,126**
**627,834**
**51**
**629,011**
**15,883**
**692,726**
**708,609**
**(79,598)**
**553,402**
**473,804**|2021
Total
£
3,819
760,220
140|
|---|---|---|---|---|
|||||764,179|
|||||14,340
683,170|
|||||697,510|
|||||66,669
486,733|
|||||553,402|
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.
19
## **Voscur Limited**
## **Balance sheet**
## **As at 31 March 2022**
|Note
**Current assets**
Debtors
11
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due within 1 year
12
**Net current assets**
**Net assets**
13
**Funds**
14
Restricted funds
Unrestricted funds
Designated funds
General funds
**Total charity funds**|**41,799**
**476,211**
**518,010**
**44,206**|**2022**
**£**
**473,804**
**473,804**
**126,323**
**206,328**
**141,153**
**473,804**|2021
£
40,929
608,842|
|---|---|---|---|
||||649,771
96,369|
||||553,402|
||||553,402|
||||221,994
211,679
119,729|
||||553,402|
## **Total charity funds**
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 1 December 2022 and signed on their behalf by
## Lin Whitfield
Lin Whitfield Chair
20
## **Voscur Limited**
## **Statement of cash flows**
## **For the year ended 31 March 2022**
|**Cash used in operating activities:**
Net movement in funds
_Adjustments for:_
Interest received
Decrease / (increase) in debtors
Increase / (decrease) in creditors
**Net cash provided by / (used in) operating activities**
**Cash flows from investing activities:**
Interest received
**Net cash provided by investing activities**
**Increase in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2022**
**£**
**(79,598)**
**(51)**
**(870)**
**(52,163)**
**(132,682)**
**51**
**51**
**(132,631)**
**608,842**
**476,211**|2021
£
66,669
(140)
9,289
39,093|
|---|---|---|
|||114,911|
|||140|
|||140|
|||115,051
493,791|
|||608,842|
The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.
21
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
**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 charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.
## **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.
## **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.
22
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **1. Accounting policies (continued)**
## **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:
||**2022**|2021|
|---|---|---|
|Raising funds|**2.2%**|2.1%|
|Charitable activities|**97.8%**|97.9%|
## **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.
23
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **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) Redundancy and termination costs**
Where an employee receives a termination benefit the full cost is recognised at the date the employee is notified.
## **o) 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.
## **p) 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:**
Donations
Charitable activities
Investments
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net income / (expenditure) and net**
**movement in funds**|Restricted
£
£
-
3,819
637,609
122,611
-
140
637,609
126,570
-
14,340
533,722
149,448
533,722
163,788
103,887
(37,218)
Unrestricted|**2021**
**Total**
**£**
**3,819**
**760,220**
**140**|
|---|---|---|
|||**764,179**|
|||**14,340**
**683,170**|
|||**697,510**|
|||**66,669**|
24
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **3. Income from charitable activities**
|Grants
Membership
Training
Job advertisements
Consultancy
**Total charitable activities**
**Prior period comparative**
Grants
Membership
Training
Job advertisements
Consultancy
**Total charitable activities**|Restricted
Unrestricted
£
£
447,596
-
-
22,997
-
10,912
-
76,429
-
69,900
447,596
180,238
Restricted Unrestricted
£
£
637,609
-
-
21,455
-
13,285
-
44,086
-
43,785
637,609
122,611|**2022**
**Total**
**£**
**447,596**
**22,997**
**10,912**
**76,429**
**69,900**|
|---|---|---|
|||**627,834**|
|||**2021**
**Total**
**£**
**637,609**
**21,455**
**13,285**
**44,086**
**43,785**|
|||**760,220**|
## **4. Government grants**
The charitable company receives government grants, deemed to be funding from Bristol City Council, 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 2022 was £363,608 (2021: £596,890). There are no unfulfilled conditions or contingencies attaching to these grants.
25
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **5. Total expenditure**
|Staff costs (note 7)
Travel, subs and recruitment
Training and conferences
Meeting and network costs
Subscriptions, membership and
resources
Advisory and consultancy
Rent, rates and office space
Office supplies, stationery and post
IT costs
Grants payable (note 8)
Newsletter and directory
Insurance, legal and professional fees
Audit and accountancy
Bank charges
Irrecoverable VAT
Sub-total
Allocation of support and governance
costs
**Total expenditure**|**£**
13,670
-
-
-
-
-
-
-
-
-
-
-
-
-
-
13,670
2,213
15,883
**Raising**
**funds**|**£**
478,156
-
5,634
65
-
7,822
-
-
11,133
89,831
3,571
-
-
-
-
596,212
96,514
692,726
**Charitable**
**activities**|**£**
20,311
4,916
4,679
-
2,968
484
24,915
14,402
9,369
-
-
7,470
4,163
125
4,925
98,727
(98,727)
-
**Support and**
**governance**|**2022**
**Total**
**£**
**512,137**
**4,916**
**10,313**
**65**
**2,968**
**8,306**
**24,915**
**14,402**
**20,502**
**89,831**
**3,571**
**7,470**
**4,163**
**125**
**4,925**|
|---|---|---|---|---|
|||||**708,609**
**-**|
|||||**708,609**|
Total governance costs in the year were £6,450.
26
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **5. Total expenditure: prior period comparative**
|Staff costs (note 7)
Travel, subs and recruitment
Training and conferences
Meeting and network costs
Subscriptions, membership and
resources
Advisory and consultancy
Rent, rates and office space
Office supplies, stationery and post
IT costs
Grants payable (note 8)
Newsletter and directory
Office equipment, hire and maintenance
Insurance, legal and professional fees
Audit and accountancy
Bank charges
Irrecoverable VAT
Sub-total
Allocation of support and governance
costs
**Total expenditure**|**£**
11,942
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
11,942
2,398
14,340
**Raising**
**funds**|**£**
407,132
1,930
466
580
-
22,643
-
-
26,479
108,216
1,503
-
-
-
-
-
568,949
114,221
683,170
**Charitable**
**activities**|**£**
32,870
6,699
1,270
-
2,699
14,702
23,461
8,125
8,445
-
-
954
2,734
8,457
176
6,027
116,619
(116,619)
**-**
**Support and**
**governance**|**2021**
**Total**
**£**
**451,944**
**8,629**
**1,736**
**580**
**2,699**
**37,345**
**23,461**
**8,125**
**34,924**
**108,216**
**1,503**
**954**
**2,734**
**8,457**
**176**
**6,027**|
|---|---|---|---|---|
|||||**697,510**
**-**|
|||||**697,510**|
Total governance costs in the year were £24,257.
27
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
**6. Net movement in funds**
This is stated after charging:
|Auditors' remuneration:
▪Statutory audit
▪Other services
Trustees' reimbursed expenses
Trustees' remuneration|**2022**
**£**
**Nil**
**Nil**
**5,250**
**250**|2021
£
Nil
Nil
4,900
3,410|
|---|---|---|
**7. Staff costs and numbers** Staff costs were as follows:
|Salaries and wages
Social security costs
Pension contributions
Freelance staff|**2022**
2021
**£**
£
**390,722**
382,240
**31,863**
17,269
**27,954**
25,671
**61,598**
26,764
**512,137**
451,944|
|---|---|
No employee earned more than £60,000 during the year.
Included within salaries and wages are £1,722 of statutory redundancy costs (2021: £nil) paid to one employee. There are no amounts outstanding as of 31 March 2022.
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 £184,983 (2021: £174,579).
|Average staff head count
Number of employees (full time equivalent):
Management
Development, Coordinator & Officers
Administration
**Total**|**2022**
**No.**
**15.50**
**2022**
**No.**
**3.74**
**6.05**
**2.70**
**12.49**|2021
No.
16.33|
|---|---|---|
|||2021
No.
3.62
6.05
2.94|
|||12.61|
28
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
|**8.**
**Grants payable**
**Grants to institutions:**
The Brigstowe Project
Friends of Caswell Thompson
St Werburgh's Community Association
Wellspring Settlement
Grassroot Communities
Avon Tennis
Black2Nature
Broad Plain & Riverside Youth Project
Malcolm X Community Centre
Chaysestar Entertainment CIC
Avon Riding Centre for the Disabled
Bristol Horn Youth Concern
Knowle West Health Park Company
Unique Voice CIC
Bristol After Stroke
Growing Futures
Knowle West Health Park Company
Dance Music Arts Collective CIC
Full Circle @ Docklands
Bristol Black Carers
Paul’s Place (South West)
Houria CIC
Bridges for Communities
Age UK Bristol
Southmead Development Trust
Carers Support Centre
Active Being
Refugee Women of Bristol
**Total grants awarded to institutions**
Support costs incurred by Voscur in the administration of the grants|**2022**
**£**
**10,000**
**9,902**
**9,817**
**9,705**
**9,240**
**8,100**
**7,125**
**6,480**
**5,614**
**4,620**
**3,827**
**3,601**
**1,800**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**89,831**
**9,502**|2021
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
6,173
**-**
**-**
9,725
9,095
8,250
7,942
7,660
7,640
7,520
7,250
6,994
6,633
5,340
5,272
5,267
5,085
2,370|
|---|---|---|
|||108,216|
|||16,380|
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 England 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.
29
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **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:
**11. Debtors**
Trade debtors
Prepayments
Accrued income
Other debtors
**12. Creditors: amounts due within 1 year**
Trade creditors
Accruals
Other taxation and social security
Deferred income
VAT
Other creditors
Movements in deferred income consist of:
At 1 April 2021
Amounts released during the year
Amounts deferred during the year
**At 31 March 2022**|**2022**
**£**
**3,287**
**2022**
**£**
**22,953**
**11,519**
**5,970**
**1,357**
**41,799**
**2022**
**£**
**20,108**
**19,332**
**-**
**255**
**437**
**4,074**
**44,206**
**2022**
**£**
**4,080**
**(4,080)**
**255**
**255**|2021
£
3,287|
|---|---|---|
|||2021
£
24,087
3,717
13,125
-|
|||40,929|
|||2021
£
40,579
34,048
3,016
4,080
8,897
5,749|
|||96,369|
|||2021
£
4,336
(4,336)
4,080|
|||4,080|
Contract income is recognised to the extent of the stage of completion, and deferred where received in advance of the services being delivered.
30
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **13. Analysis of net assets between funds**
|Current assets
Current liabilities
**Net assets at 31 March 2022**
**Prior period comparative**
Current assets
Current liabilities
**Net assets at 31 March 2021**|£
126,323
-
**126,323**
£
221,994
-
**221,994**
Restricted
funds
Restricted
funds|Designated
funds
£
206,328
-
**206,328**
Designated
funds
£
211,679
-
**211,679**|General
funds
£
185,359
(44,206)
**141,153**
General
funds
£
216,098
(96,369)
**119,729**|**Total**
**funds**
**£**
**518,010**
**(44,206)**|
|---|---|---|---|---|
|||||**473,804**|
|||||**Total**
**funds**
**£**
**649,771**
**(96,369)**|
|||||**553,402**|
31
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **14. Movements in funds**
|**Restricted funds**
Infrastructure support services: Bristol City Council
Can Do Bristol: Bristol City Council
Volunteers Week: Bristol City Council
BME voice and influence: Bristol City Council
BME voice and influence: Care Forum
_Sport England: Tackling Inequalities_
Grant award fund
Voscur support costs
BNSSG NHS England
Early Intervention project: Bristol City Council
Innovation Manager project: Lloyds Bank Foundation
Sexual Violence Study: The National Lottery
City Fund: Mayor's Asset Group
City Fund:Quartet
Local access programme
Everyday Integration
VCSEP
Transport grant
Bristol Community Transport
Bristol Refugee and Asylum Seeker Partnership
West of England Community Support Fund
Bristol University Research
Barrow Cadbury Connect Fund
**Total restricted funds**|At 1 April
2021
£
59,690
-
-
84
893
91,784
13,573
13,827
14,319
2,104
842
1,288
2,631
11,672
2,482
44
1,069
-
-
-
-
5,692
221,994|Income
£
316,608
10,000
12,000
-
769
-
30,995
25,000
-
-
-
-
-
4,056
7,250
1,500
-
4,917
28,531
570
5,400
-
447,596|£
(371,458)
-
-
-
(397)
(89,831)
(32,324)
(14,658)
(6,810)
-
-
(970)
(970)
(3,588)
(4,391)
(1,544)
-
(4,917)
(8,468)
-
(2,941)
-
(543,267)
Expenditure|**At 31**
**March 2022**
£
**£**
-
**4,840**
-
**10,000**
-
**12,000**
-
**84**
-
**1,265**
(1,953)
**-**
1,953
**14,197**
-
**24,169**
-
**7,509**
-
**2,104**
-
**842**
-
**318**
-
**1,661**
-
**12,140**
-
**5,341**
**-**
-
**1,069**
-
**-**
-
**20,063**
-
**570**
**2,459**
-
**5,692**
-
**126,323**
Transfers
between
funds|
|---|---|---|---|---|
32
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **14. Movements in funds (continued)**
|**Movements in funds (continued)**||||||
|---|---|---|---|---|---|
|_Designated funds:_
Contingency reserve
Dilapidations
IT (replacements and web development)
Strategic development
_Total designated funds_
**Total unrestricted funds**
**Total funds**
General funds
**Unrestricted funds**|At 1 April
2021
£
146,189
30,000
30,000
5,490
211,679
119,729
331,408
553,402|Income
£
-
-
-
-
-
181,415
181,415
629,011|£
-
(4,832)
-
(519)
(5,351)
(159,991)
(165,342)
(708,609)
Expenditure|£
-
-
-
-
-
-
-
-
Transfers
between
funds|**At 31**
**March 2022**
**£**
**146,189**
**25,168**
**30,000**
**4,971**|
||||||**206,328**|
||||||**141,153**|
||||||**347,481**|
||||||**473,804**|
33
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
**14. Movements in funds (continued) Prior period comparative**
|**Restricted funds**
_Infrastructure support services_
Bristol City Council
_BME voice and influence_
Bristol City Council
Care Forum
_Sport England: Tackling Inequalities_
Grant award fund
Voscur support costs
BNSSG NHS England
Early Intervention project: Bristol City Council
Innovation Manager project: Lloyds Bank Foundation
Sexual Violence Study: The National Lottery
_City fund_
Mayor's Asset Group
Quartet
Local access programme
Everyday Integration
VCSEP
Transport grant
Workplace wellbeing
Barrow Cadbury Connect Fund
**Total restricted funds**|At 1 April
2020
£
88,307
84
887
-
-
-
14,319
2,104
842
1,288
2,631
6,196
-
-
1,069
380
-
118,107|Income
£
338,118
-
2,000
200,000
29,953
25,000
-
-
-
-
-
12,293
13,125
3,000
-
-
14,120
637,609|£
(366,735)
-
(1,994)
(108,216)
(16,380)
(11,173)
-
-
-
-
-
(6,817)
(10,643)
(2,956)
-
-
(8,808)
(533,722)
Expenditure|Transfers
between
funds
**At 31**
**March 2021**
£
**£**
-
**59,690**
-
**84**
-
**893**
-
**91,784**
-
**13,573**
-
**13,827**
-
**14,319**
-
**2,104**
-
**842**
-
**1,288**
-
**2,631**
-
**11,672**
-
**2,482**
-
**44**
-
**1,069**
(380)
**-**
380
**5,692**
-
**221,994**|
|---|---|---|---|---|
34
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **14. Movements in funds (continued) Prior period comparative**
|**Movements in funds (continued)**
**Prior period comparative**||||||
|---|---|---|---|---|---|
|**Unrestricted funds**
_Designated funds:_
Contingency reserve
Dilapidations
IT (replacements and web development)
Strategic development
_Total designated funds_
**Total unrestricted funds**
**Total funds**
General funds|At 1 April
2020
£
146,189
30,000
30,000
20,000
226,189
142,437
368,626
486,733|Income
£
-
-
-
-
-
126,570
126,570
764,179|£
-
-
-
(14,510)
(14,510)
(149,278)
(163,788)
(697,510)
Expenditure|Transfers
between
funds
£
-
-
-
-
-
-
-
-|**At 31**
**March 2021**
**£**
**146,189**
**30,000**
**30,000**
**5,490**|
||||||**211,679**|
||||||**119,729**|
||||||**331,408**|
||||||**553,402**|
35
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **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 22-23.
## **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, and capacity building activities.
## **Bristol City Council: Can Do and Volunteers Week**
These are two projects funded by Bristol City Council which will be delivered during financial year 22-23.
## **BME Voice and influence: Bristol City Council**
Bristol City Council BME Voice was a Community Connector project to engage and involve black and minority ethnic led VCS groups to become more active in decision making in the city, leading to increased knowledge and understanding.
## **BME Voice and influence: Care Forum**
The Voice and Influence Partnership during 2018-21 was a multi-partner collaborative project. This encouraged participation in the Project Steering Group on leading, planning and influencing the delivery of activities to meet the key performance indicators mandated by Bristol City Council.
## **Sport England: Tackling Inequalities**
In 20-21, Voscur was funded by Sport England to support VCSE organisations of underrepresented groups to apply for Sport England funding. With a strong focus on maintaining physical activity/sport, this programme focussed on Black, Asian and Other Ethnic groups, people with disabilities and long-term health conditions, and low-income people. Voscur was responsible for assisting the groups to apply, and then distributing 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. During 21-22 Voscur, as outlined above, processed a further 13 Sport England grants, totalling £89,831.
This programme developed through 21-22 into a collaboration, utilising Sport England funding, with Wesport (West of England Sports Charity). Wesport, the partner in receipt of the Sport England funding, allocated some of this funding to Voscur to enable us to deliver training and provide support to the applicants. This stage of the Sport England Phase 3 of this programme continued through the 21-22 financial year.
36
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **14. Movements in funds (continued) Purposes of restricted funds**
## **BNSSG NHS England**
Voscur was one of the participants in the NHS England programme VCSE Leadership. The programme’s purpose was to embed VCSE sector into forming the Integrated Care Systems and Partnerships. During the COVID-19 pandemic, the work shifted to support the region’s crisis response. A proportion of these funds were brought forward into 21-22 to enable Voscur to focus on post-COVID involvement of local VCSE organisations in the Integrated Care Partnerships and Localities. This programme continued throughout 21-22 with renewed funding to carry forward into the 22-23 financial year.
## **Early Intervention project: Bristol City Council**
The Early Intervention Project (Bristol City Council funded) initially ran during financial year 17-18. This project was a joint project between Bristol City Council and Voscur designed to enable and improve effective multi-agency working and build a business case for early intervention in Bristol. This work included 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. Although this project has been dormant for the last financial years, the creation of a new position of Support & Development Officer within Voscur has enabled this work to be reinstated and continued through 21-22 and into 22-23.
## **Consortium Innovation Manager**
Voscur hosted the consortium innovation manager, which was part of a project funded by Lloyds Bank Foundation for England and Wales, to facilitate improved collaboration and better coordinated services for the benefit of sexual violence survivors in Bristol. Voscur will be liaising with Lloyds Bank Foundation in order to take up the outstanding balance on this Restricted Fund in accordance with the original funding agreement.
## **Sexual Violence Study: The National Lottery**
Voscur, working in partnership with the Bristol Sexual Violence Support Consortium was a feasibility study into the potential for consortium members to introduce charges for counselling services. Whilst the initial phase of this project was completed, Voscur will be looking to further develop the programme utilising the reserve connected to this project, in line with the funder’s requirements.
## **City fund: Mayor's Asset Group**
Work on this programme was rescheduled due to the pandemic. This programme is to work with Locality and Bristol City Council funded organisations to share learning regarding the transfer of assets, shape strategy and support investment in community buildings.
## **City fund: Quartet**
This funding was awarded to enable Voscur to use its community networks to gather information on how City Funds grants can be best used to support grassroots organisations. This work has continued to be delivered utilising this restricted fund.
37
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **14. Movements in funds (continued) Purposes of restricted funds**
## **Local Access Programme**
The original phase of this programme, funded by the Access Foundation and Big Society Capital, supported the development of a place-based social enterprise and investment programme. The new phase of this programme, which commenced in January 22, has taken the initial design and development plan to a detailed delivery plan. This delivery plan will be implemented during financial years 22-23 and 23-24.
## **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 to the national network and responded to specific local requests for support, such as mobilising volunteers for mass testing and vaccination. This work continued into 22-23 but the programme has now been completed.
## **Transport grant**
This grant was awarded to support 50% of the costs for an organisational sustainable transport policy via Travel West and Bristol City Council.
## **Bristol Community Transport**
This grant was awarded to support 50% of the costs for an organisational sustainable transport policy via Travel West and Bristol City Council.
## **Bristol Refugee and Asylum Seeker Partnership**
This programme is being developed in collaboration with Bristol Refugee Rights. Voscur’s role is to contribute to the development of an action plan to provide a range of services for smaller organisations in the field, and the development of resources, specialist advice and support for those seeking asylum.
38
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **14. Movements in funds (continued) Purposes of restricted funds**
## **West of England Community Support Fund**
This is a new programme of work for Voscur which commenced in February 22. The project, entitled ‘Skills for Social Purpose’ is to enable participants, from areas of social deprivation within Bristol, to attend specific training and then attend placements with various voluntary and social enterprise organisations within the city. At the end of these placements, Voscur will be assisting the participants to seek paid or voluntary employment, utilising the skills and knowledge developed through their experience on the programme.
## **Bristol University Research**
A new relationship and a new programme of work were undertaken during the 21-22 financial year. Voscur was approached by the University of Bristol to research the impact of COVID in our city. The results of this research were then compiled, published and the resulting report was launched. Overall this programme was a resounding success, which we at Voscur, hope will lead to more productive work with the University in the near future.
## **Barrow Cadbury Connect fund**
A collaboration with Bristol & Bath Regional Capital to provide long-term support to VCSE groups that want to increase their future sustainability through social enterprise/investment. This work will be further developed during 22-23 with the recruitment of our VCSE Development Officer and her work direct complements this programme.
## **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 of running costs) is maintained to ensure the continuation of current service levels.
## **Dilapidations**
This reserve has been established to enable Voscur, in the event of a move to different premises, to make good any potential dilapidations, decorations, etc. to the existing premises. A small part of this Designated Reserve was utilised during 21-22 to enable the repainting of the Voscur office.
## **IT (replacements and web development)**
This reserve has been established in order to support the agreed development of the Voscur website and provide sufficient funds to enable the purchase and upgrade of mobile equipment for the Voscur staff team.
## **Strategic development**
This reserve was initially created to ensure that all infrastructure and human resources requirements are robust. This was originally designated to specifically ensure that these requirements were met during the proposed merger negotiations.
39
## **Voscur Limited**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **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.
Sian Jones, a trustee of Voscur, is also a trustee of The Carers Support Centre. During the year, Voscur received income totalling £12,510 from The Carers Support Centre for consultancy, training and job advertisements (2021: £3,352). There were no amounts outstanding at the year end (2021: £1,532).
Ellie Collier, a trustee of Voscur, is also the CEO of Arnos Vale Cemetery Trust. During the year Voscur received income of £35 from Arnos Vale for job advertisements (2021: £75). At 31 March 2022, there were no balances outstanding (2021: £nil). During the year Voscur purchased services of £105 from Arnos Vale for first aid training (2021: £nil). There were no amounts outstanding at the year end.
Sandra Meadows, Chief Executive of Voscur up to 31 March 2022, is also a director of WoECSP (West of England Civil Society Partnership CIC). During the year Voscur received back their startup contribution of £1,500 from WoECSP. There were no amounts outstanding at the year end.
Ed Norton, a trustee of Voscur from November 2021, is also the CEO of Life Cycle UK. During the year Voscur received income of £489 from Life Cycle UK for job advertisements (2021: £140). At 31 March 2022, there were no balances outstanding (2021: £nil).
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 £227 from the Quartet Community Foundation for training and job advertisements (2021: £15,452 for BCC Sector Support funding, training and job advertisements). There were no amounts outstanding at the year end (2021: £nil). During the year, Voscur purchased phone system services totalling £2,087 from the Quartet Community Foundation (2021: £17,027 for providing pro bono voluntary sector support and phone system services). At 31 March 2022, £203 was outstanding (2021: £15,405).
Will Bee, the husband of Lin Whitfield, a trustee of Voscur, is the chair of trustees of the Wellspring Settlement. During the year, Voscur received income totalling £820 from the Wellspring Settlement for job advertisements (2021: £410 for training and job advertisements). At 31 March 2022, £175 was outstanding (2021: £35). During the year, Voscur provided a grant to the Wellspring Settlement of £9,075 for the Tackling Inequalities project (2021: £nil). There were no amounts outstanding at year end.
40
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
1 December 2022
Dear Alison
## **Letter of Representations on the Financial Statements for the Year Ended 31 March 2022**
This representation letter is provided in connection with your audit of the financial statements of the charity for the year ended 31 March 2022.
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 4 July 2022, 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 2022.
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.
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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
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## **Appendix 1: Summary of Related Parties**
|**Connected Organisation**|**Name**|**Nature of Connection**|
|---|---|---|
|The Carers Support Centre|Sian Jones|Director|
|Arnos Vale Cemetery Trust|Ellie Collier|CEO|
|Life Cycle UK|Ed Norton|Director|
|West of England|Sandra Meadows|Director|
|Civil Society Partnership|||
|Quartet Community Foundation|Lin Whitfield|Husband, Will Bee is Vice President|
|Wellspring Settlement|Lin Whitfield|Husband, Will Bee is Chair|
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