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← Gloucestershire Vcse Alliance

2024-03-31-accounts

Charity registration number 1153760

GLOUCESTERSHIRE VCS ALLIANCE

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

GLOUCESTERSHIRE VCS ALLIANCE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees C Ray MBE
J Hopkins
E Griffiths
A McGuckin
A. Mulla
J Brown (Appointed 20 December
2023)
J Vizard (Appointed 20 December
2023)
Charity number 1153760
Principal address Suite 4
Abbey Terrace
Winchcombe
Cheltenham
GL54 5LL
Independent examiner Nicholas J Bishop FCCA ACA
Unit 3 Ambrose House
Meteor Court
Barnett Way
Barnwood
Gloucester
GL4 3GG
Bankers Triodos Bank
Deanery Road
Bristol
BS1 5AS

GLOUCESTERSHIRE VCS ALLIANCE

CONTENTS

Page
Trustees' report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9 - 16

GLOUCESTERSHIRE VCS ALLIANCE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The VCS Alliance’s object is the promotion of the voluntary sector in Gloucestershire by the provision of information, advice and services. This is with the aim of extending the activities of the voluntary sector and increasing its efficiency, effectiveness and quality.

By the voluntary sector, we mean charities and voluntary organisations. Charities are organisations which are established for exclusively charitable purposes in accordance with the law of England and Wales. Voluntary organisations are independent organisations which are established for purposes that add value to the community as a whole, or a section of the community, and which are not permitted by their constitution to make a profit for private distribution. Voluntary organisations do not include local government or other statutory authorities.

The VCS Alliance aims to facilitate communication between Gloucestershire’s voluntary and community sector (VCS) and policy makers and commissioning bodies in Gloucestershire. It aims to ensure effective consultation with the county's voluntary and community sector by the public sector, to create effective mechanisms for partnership working through thematic forums, as well as to produce the county's funding and information bulletins.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.

Public benefit

In planning the charity’s activities for the year the trustees kept in mind the Charity Commission’s guidance on public benefit.

The focus of the charity’s activities during the year, which explains the delivery by the charity of public benefit, is set out above under ‘objectives and activities’ and below under ‘achievements and performance’.

Achievements and performance

Go Volunteer Glos

The Go Volunteer Glos platform has continued to go from strength to strength with 1,403 volunteers (up 50% from 22/23) and 490 volunteering vacancies registered during 2023/24.

In November 2023, we published our first “Volunteering Insight” newsletter, a quarterly publication aimed at organisations supporting volunteers.

We continued to expand our reach, working alongside commercial organisations to support the implementation of ESV (Employer Supported Volunteering) programmes. Due to this increased workload, a Project Support Officer (0.4FTE) was recruited in November 2023.

Go Volunteer Glos and the Gloucestershire VCS Alliance continue to be an integral part of the Gloucestershire Volunteer Collaborative whose mission is to make Gloucestershire the very best place to volunteer.

Accountable Representation

In 2023/24, funding for the establishment and ongoing co-ordination of an accountable VCSE representation model within public health structures was added to our contractual funding agreement with the Integrated Care Board.

During 2023/24, we continued to support the VCSE Strategic Partnership to achieve its delivery plan, notably by holding a VCSE leadership conference on the 16[th] November 2023 in Gloucester and providing ongoing chairing and secretariat for the group.

GLOUCESTERSHIRE VCS ALLIANCE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

In July 2023 we also developed and delivered the first Clinical Programme Group (CPGs) event for Gloucestershire. This was designed to connect the VCSE to CPGs and initiate a conversation on how an ongoing relationship could be established. We now have monthly CPG drop ins as well as regular mail outs focussing on specific CPGs of interest to the sector.

We continued to support and reimburse individual VCSE organisations to act as representatives on each district Integrated Locality Partnership (ILP) and to disseminate information to the wider VCSE.

NHS England Legacy

Through NHS England Legacy funding, during 2023 we recognised the dedication and sacrifices made by VCSE staff by offering them and their families circus and pantomime tickets free-of-charge. We also offered a series of professional and personal development opportunities for VCSE staff and volunteers, which included:

Activities to support VCSE leaders:

Activities to support all staff:

Trustee Bank and Refresher Programme

The first cohorts of the Trustee Bank and Refresher Programme took place during 2023/24 with training provided on the topics of finance, governance and strategy. Cohorts were well-attended with 18 trustees attending cohort 1, and 51 attending cohort 2 of the Trustee Bank, and 110 attending cohort 1 and 387 attending cohort 2 of the Refresher Programme.

GLOUCESTERSHIRE VCS ALLIANCE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

“Thriving” Leadership Programme

Building on the success of our summer 2023 programme, we developed a new programme for 2024 that recognised the need to become sustainable, and specifically, the role leadership plays in this. Each participant received highlevel teaching at the University of Gloucestershire Business School and benefitted from being part of a bespoke peer-to-peer community. Participants also had access to the University of Gloucestershire student consultancy, additional business support and workshops. The programme was run in partnership with the University of Gloucestershire and The Growth Hub.

Community Mental Health Transformation Framework (CMHTF) - VCSE Lead Partner

We continued to support the development and roll-out of the CMHTF project, working alongside colleagues from the ICB and the provider trust. Our role has been to ensure that the community voice is involved in co-designing the project, that the VCSE is a key part of future mental health funding and delivery, and to support smaller organisations providing the amazing preventative services that keep people out of crisis. We employed a Mental Health Coordinator for the second two years of the 3-year project to support the VCSE’s engagement with the programme. A part of our delivery was to design and implement a £250k small grants programme for VCSE organisations supporting adults with serious mental illness.

Glos Funders CIC (Community Interest Companies) Research Project

During 2023/24 funding was obtained through Glos Funders to conduct a research piece into the prevalence of CICs within Gloucestershire, and their impact on the distribution of public sector grant funding. The research is due to conclude in July 2024.

Summerfield Charitable Trust Investment Strategy

During 2023/24 we undertook a piece of work on behalf of the Summerfield Charitable Trust to recommend themes that would maximise the benefit of their investment to the people of Gloucestershire. Through research and consultation with the VCSE, the Investment Strategy was produced.

Gloucestershire Race Collective (formerly Gloucestershire Racial Equality Action Group)

In July 2023, we became the interim fiscal hosts of what was then the Gloucestershire Racial Equality Action Group (GREAG). Fiscal hosting is where a legally registered organisation (the fiscal host) holds money on behalf of a community group, social movement or project that doesn’t have the capacity or desire to register as a formal legal entity. We took on the host role from a Bristol-based organisation to provide support at a crucial time. The group was rebranded in October 2023, becoming the Gloucestershire Race Collective. GRC plans to register as a legal entity during 2024/25.

Financial review

During 2023/24, core funding was provided by the Integrated Care Board, Gloucestershire County Council and the Barnwood Trust. Core grant income increased to £180,998 as a result of the inclusion of Accountable Representation within our agreement with the Integrated Care Board.

A decision was taken to invest in the staff team, with some fixed-term posts extended and a market review of staff remuneration and benefits undertaken.

Almost £12,000 of circus and pantomime tickets were provided to VCSE staff in recognition of their dedication and hard work. In addition, £12,410 was issued in small grants for VCSE organisations for “Workplace Wellbeing” under the NHS England Legacy funding.

New office premises were secured in Winchcombe, following the closure of the Integrated Care Board offices in Gloucester Business Park. The staff headcount in March 2024 was 10 (7.39 FTE).

Reserves statement

It is the policy of the trustees to hold an appropriate level of reserves to ensure that the Gloucestershire VCS Alliance is able to continue to operate in the event of an interruption to its income streams and to wind down its operations in a controlled manner should such an action be deemed necessary. Further, it is the policy of the trustees to keep the level of reserves under review ~~t~~ hroughout the year.

The trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

GLOUCESTERSHIRE VCS ALLIANCE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Plans for future periods

The 2024/25 year will see the end of our current strategic plan (2019-2024), with a new five-year plan due to be launched at the end of 2024. The year ahead will lay the foundations for our future growth, with some innovative projects providing us valuable insight into our existing strengths and areas for development.

Trustee Bank

Funded by the Healthy Communities Together (HCT) Gloucestershire programme, in 2024/25 we will explore how we can offer on-demand trustee training and development to best meet the needs of VCSE organisations in Gloucestershire.

Summerfield Charitable Trust Investment Strategy

Following our development of the Investment Strategy in 2023/24, we will work in partnership with the Summerfield Charitable Trust to take forward this pioneering investment programme by working with local VCSE sector groups, organisations and communities to co-produce a range of investment proposals for the Summerfield Charitable Trust’s Board to consider for investment. These proposals will be focussed on six main themes: A Connected Society; Ageing Well; Arts and Culture; Children and Families; Action for Nature and Climate and VCSE Infrastructure.

CHK Foundation Project – Strategic Partnerships

During 2023/24 we secured a grant agreement with the CHK Foundation to explore new ways of partnership working within the VCSE in Gloucestershire. As a result, we were able to recruit to a new role for a “Head of Strategic Partnerships”. This exciting two-year project will commence in June 2024 and will explore the commissioning cycle and consortium and partnership tenders.

Go Volunteer Glos

With additional funding secured from the Integrated Care Board to continue the programme for a further two years, the Go Volunteer Glos team are now able to plan ahead to realise their ambition to become the “go to” portal for volunteering in the county.

During Volunteers’ Week (3 June – 9 June), the first Gloucestershire Volunteer Awards will take place, with nominations being received for incredible volunteers across eight categories.

Structure, governance and management

The Charity is a Charitable Incorporated Organisation governed its constitution.

The trustees who served during the year and up to the date of signature of the financial statements were: C Ray MBE

J Hopkins E Griffiths A McGuckin A. Mulla J Brown (Appointed 20 December 2023) J Vizard (Appointed 20 December 2023)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees' report was approved by the Board of Trustees.

..............................

C Ray MBE Trustee

Date: .............................................

GLOUCESTERSHIRE VCS ALLIANCE

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF GLOUCESTERSHIRE VCS ALLIANCE

I report to the trustees on my examination of the financial statements of Gloucestershire VCS Alliance (the Charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Nicholas J Bishop FCCA ACA

Unit 3 Ambrose House Meteor Court Barnett Way Barnwood Gloucester GL4 3GG

Dated: .........................

GLOUCESTERSHIRE VCS ALLIANCE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
495,849
-
Investments
4
7,342
-
Total income
503,191
-
Expenditure on:
Charitable activities
5
429,735
-
Total expenditure
429,735
-
Net income and movement in
funds
73,456
-
Reconciliation of funds:
Fund balances at 1 April 2023
230,093
1,838
Fund balances at 31 March
2024
303,549
1,838		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
495,849
545,426
-
7,342
2,158
-
503,191
547,584
-
429,735
452,318
-
429,735
452,318
-
73,456
95,266
-
231,931
134,827
1,838
305,387
230,093
1,838		 Total
2023
£
545,426
2,158
547,584
452,318
452,318
95,266
136,665
231,931

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

GLOUCESTERSHIRE VCS ALLIANCE

BALANCE SHEET

AS AT 31 MARCH 2024

2024
Notes
£
Fixed assets
Tangible assets
11
Current assets
Debtors
12
22,571
Cash at bank and in hand
637,968
660,539
Creditors: amounts falling due within
one year
13
(355,153)
Net current assets
Total assets less current liabilities
The funds of the Charity
Restricted income funds
15
Unrestricted funds		 2023
£
£
1
103,077
447,204
550,281
(318,351)
305,386
305,387
1,838
303,549
305,387		 £
1
231,930
231,931
1,838
230,093
231,931

The financial statements were approved by the trustees on .........................

.............................. C Ray MBE Trustee

GLOUCESTERSHIRE VCS ALLIANCE

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
18
Investing activities
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2024
£
7,342		 £
183,422
7,342
-
190,764
447,204
637,968		 2023
£
2,158		 £
15,886
2,158
-
18,044
429,160
447,204

GLOUCESTERSHIRE VCS ALLIANCE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Gloucestershire VCS Alliance is a Charitable Incorporated Organisation.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011 and "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)". The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

1.5 Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers 25% straight line

GLOUCESTERSHIRE VCS ALLIANCE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

GLOUCESTERSHIRE VCS ALLIANCE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Grants 495,223 545,226
Other 626 200
495,849 545,426

4 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 7,342 2,158

GLOUCESTERSHIRE VCS ALLIANCE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

5 Expenditure on charitable activities

Charitable Charitable
expenditure expenditure
2024 2023
£ £
Direct costs
Staff costs 264,164 218,634
Marketing 3,526 -
Small grants 12,410 -
Recruitment and training 4,129 782
IT and website 25,079 90,722
Office exp and travel 9,323 661
Legal and professional fees 50,928 104,346
Event costs 45,705 33,577
415,264 448,722
Share of support and governance costs (see note 6)
Support 14,471 3,596
429,735 452,318
Analysis by fund
Unrestricted funds 429,735 452,318
6 Support costs allocated to activities
2024 2023
£ £
Insurance 989 297
Rent 5,400 -
Bank charges 84 84
Subscriptions 989 1,097
Accountancy 1,440 1,200
Sundry 408 918
Prinitng, postage and stat 2,393 -
Board expenses 717 -
Legal & professional 2,051 -
14,471 3,596
Analysed between:
Charitable expenditure 14,471 3,596

GLOUCESTERSHIRE VCS ALLIANCE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7 Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements 1,440 1,220

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.

9 Employees

The average monthly number of employees during the year was:

Charitable activities
Employment costs
Wages and salaries
Other pension costs		 2024
Number
9
2024
£
257,288
6,876
264,164		 2023
Number
7
2023
£
213,242
5,392
218,634

There were no employees whose annual remuneration was £60,000 or more.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

GLOUCESTERSHIRE VCS ALLIANCE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11 Tangible fixed assets

Cost
At 1 April 2023
At 31 March 2024
Depreciation and impairment
At 1 April 2023
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
12
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
13
Creditors: amounts falling due within one year
Notes
Deferred income
14
Trade creditors
Accruals
14
Deferred income
Arising from grant funding received in advance
Deferred income is included in the financial statements as follows:		 Computers
£
300
300
299
299
1
1
2024
2023
£
£
16,603
101,000
900
1,261
5,068
816
22,571
103,077
2024
2023
£
£
352,446
301,975
288
15,176
2,419
1,200
355,153
318,351
2024
2023
£
£
352,446
301,975		 Computers
£
300
300
299
299
1
1
2024
2023
£
£
16,603
101,000
900
1,261
5,068
816
22,571
103,077
2024
2023
£
£
352,446
301,975
288
15,176
2,419
1,200
355,153
318,351
2024
2023
£
£
352,446
301,975
300
299
299
1
1
2023
£
101,000
1,261
816
103,077
2023
£
301,975
15,176
1,200
318,351
2023
£
301,975

GLOUCESTERSHIRE VCS ALLIANCE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14 Deferred income

Deferred income (Continued)
2024 2023
£ £
Deferred income is included within:
Current liabilities 352,446 301,975
Movements in the year:
Deferred income at 1 April 2023 301,975 389,742
Released from previous periods 329,569 161,571
Resources deferred in the year (279,098) (249,338)
Deferred income at 31 March 2024 352,446 301,975

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April At 31 March
2023 2024
£ £
Community Engagement 1,291 1,291
Go Voluntering 547 547
1,838 1,838
Previous year: At 1 April At 31 March
2022 2023
£ £
Community Engagement 1,291 1,291
Go Voluntering 547 547
1,838 1,838

GLOUCESTERSHIRE VCS ALLIANCE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

16 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Tangible assets
1
-
Current assets/(liabilities)
303,548
1,838
303,549
1,838
Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 March 2023:
Tangible assets
1
-
Current assets/(liabilities)
230,092
1,838
230,093
1,838		 Total
2024
£
1
305,386
305,387
Total
2023
£
1
231,930
231,931

17 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

18
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Movements in working capital:
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Increase/(decrease) in deferred income
Cash generated from operations		 2024
£
73,456
(7,342)
80,506
(13,669)
50,471
183,422		 2023
£
95,266
(2,158)
(4,429)
14,974
(87,767)
15,886

19 Analysis of changes in net funds

The Charity had no material debt during the year.