Company Number.. 08746685 Charity Number.. 1158777 VOLA Consortium IA Company Llmlted by Guarantee) Annual Report Unaudited Financial Statements For the year ended 31 March 2023 Page I
Vola Consortium Contents Pages 3.12 Trustees, Annual Report 13-14 Independent Examiner's Report 15-16 Statement of Flnanclal Activltles 17 Balance Sheet 18 Cash Flow 19-28 Notes to the Flnanclal Statements Page 2
VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2023 The trustees, who are also Directors for the Purposes of the Companies Act, present their annval report and flnancial staiements of the charlty for the year ended 31 March 2023. The financial statements have been prepared in accordance wtth the accounting policles set out in note I to the accounts and comply with the charity's governing document, the Companies Act 2006 and A¢¢ountlng and Reportlng by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with thè Financial Reportln8 Standard 102 applicable in the UK and Republic of Ireland (effective I january 20191. The Charity VOLA Consortium is constituted as a company limited by guarantee and not having a share capital. The company is registered in England and Wales No. 08746685. The charity is registered with the Charity Commission No. 1158777. The principal governing document 15 the Company Memorandum and Articles of Association as amended on 25th September 2014. Objectives and Activities The charity's objects are: al the advancement of education and lifelong learning in such ways a5 the trustees think fit,. bl the provision of crime prevention and offender rehabilltatlon servlces,. cl the promotion of the voluntary sector in the Lwerpool City Region and the Surrounding areas in particular 11 building the capacity of charitsble and voluntary organisations operating Wlthin the arèa of benefft and providing them with the necessary support, information and services to enable them to pursue or contribute to any charirable purpose but in particular the advancement of edutation and the rehabilitation of offenders.. and ill promotlng, organSsing and facllttating c04)peration and partnership working between charitable and voluntary organisations and statutory and other relevant bodies within the area of benefit. For the purposes of this ¢louse. "the voluntoryse¢tor" meons churftles ond voluntory orgunisations defined osfollows. Chorltles ore orgonisatlons, whlth ore estobllshedfrrexclusively choritoble purpose5 in accordtince wffth the low of Englond ond Wtrles. "Voluntory Orgunistition5' are whole or o $19nlficant sertion of the communpty, t7nd which lire notpermitted by theirconstitution to muke u profitforprivote distribution. Voluntary orgGniSLltion5 do not include locol govemmentorother st(ttutory outhorities" dl To further such purposes as are charitable wlthin the law5 of En8land and Wales as the Trustees shall from time io time determine. In 5ettin8 our objectNes and planning our activities the trustee5 have given care1 consideration to the Charity Commission's Buidance on public benefit. Page 3
VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2023 Membershi In it5 nlnth year of operation as a regSstered charity, as at 31" March 2023, VOLA Consortium's membershlp stands at 60 voluntary sector organisations160 last yearl,. having accepted one new membership application along wlth one former member withdTawin8 their mernber5hip during the year. Kitkstart rtment for Work and Pension5 The Government's kn¢kstart s¢heme provlded fundlng to employers to create 6-month, 25 hour per week, pald work placements for unemployed 16 to 24 year olds In receipt of Universal Credtt and at risk of long-term unemployment. Between February 2021 and Sèptember 2022, VOLA acted as Kickstart Gateway Body on behalf of a gmup of 20 local voluntary settor employers, the Majoty of whlch VOLA members, to help them create and fill job placements and put in Pla a comprehenswe wraparound packa8e of training and support. A5 a Kickstart Gateway, VOLA arted as an intermediary between the DWP, the scheme's funders, and city re8ion employers to help them to mana8e their Kickstart grant. The key purpose of our Gateway role wa5 to ensure that participants were well supported, trained and developed to enable theit onward progression to paid èmpltsyrnent following their involvement with the scheme. The project was delivered in partnershlp wlth consortlum member, Career Connect who, on behalf of VOLA, provided participants with career5 advice and guidance, training and employability 5UPPOrt. Working directlv wlth employers, VOLA'S ntral team assisted with the advertisement and nlllng of placements. ensuring the provision of adequate capacity and capability to effectively support the young people placed with them. Over £400,000 in DWP grant payments were passed on to employers to cover participant 5alarie5 and other associated costs. Btheen April 2021 and September 2022, the prolert successfully placed 71 young people into placements with 21 employers. The scheme c105ed to new starters in March 2022, so no new recruitment took place durlng thls flnancial year. however, 28 of the 71 previou5 recruit5 remained on programme, with the final cohort completinB in September 2022. In terms of outcomes, the projert was extremely successful, with high retentton, completion and progression rates. as demonstrated by the following key performance indicators.. 76% of participants completed thelr placement, with a further 14% leavlng early to progress to employment or Apprenticeships. 70% progressed to a p051tive destination, comprlsing 11 Apprentlceshlps, 37 lobs112 full-time and 25 part-timel and 2 higher education outcomes. These perf0rrnan indicator5 reinforce the claim that. although these type5 of job creation schemes are relatively expensive in compari50n to other Government-fijnded employability programmes, they are highly successful in achieving positive outcomes for young. unemployed people. New FureS Pro Educallon and Skllls Fundln Euro an Soclal Fub)d CO&finance Led by Greenbank College (VOL4 memberl since its April 2019 launch, and delivered in partnership with 12 other VOLA consortium members, the New Futures project provided targeted support to young people aged 15-24 who were Not in Employment, Edutatlon or Tralning INEETI, or at risk of becoming NEET, to help them to progress Page 4
VOLA Consortium Trustees, Annual Report (including Directors, Report} For the year ended 31 March 2023 towards thèir learnlng and work goals. Leamers were provided with a flexible, tsllored programme to help improve their employability skills. personal. social and emotional development, compTising accfedited and non-accredited training, mentorin& pastoral and wider wrap-around support. The project's ultlmate aim was to support onward progrèssion to work or education. De5Prte the voluntary, early release from the contract in July 2022, significantly ¢urtailing the recruitment wirsdow, the delivery partnership was able to enrol a substantial 301 new recruits durin8 the 2Q21122 academlc year, increasing the total number of learners supported overthe liletlme of the project to 1.226. Analysls of partlcSpant demographic data clearly demonstrates ihe partnershlp's collective strength in engèging a diverse range ol people, the majority of whom commonly reco8ni5ed 35 disadvanta8ed in relation to educational attainment and employment pr05pètts. For example. on joining the project, 44% of learners declared a disability. learning difficulty or lon8-term health conditron,. 93% lacked basic skills in either English or maths, the vast majority lacking in both disciplines; 12% were young, Single p4rents.' and IO% were from a mlnorlty ethnlc background. Indeed. 97% of learners declared at least one reco8nised barrier to progression (disability, lacking basic 5ki115, low educatlon31 attainrnent. single parent. ethnic minority, workless householdl. many experiencing rnultiple and often complex barrier5. In terms of gender equality, the proportion of young women engaged by the project stood at 40%, moderately bèlow the 46% national ESFWESF target. Notwithstanding the long.term, adverse Smpact of the Covid pandemic on project deliverability, the partnership's continued endea¥our5 resulted in respertable levels of performat)ce, in terms of achievement of outcomes and results. Retention and achievement rates stood at 85% and 78% respectively, with 647, or 53% of learners progressing to an eligible, positive destination of employment. education, Apprenticeship or Traineeship. vs 54% contrattual target. Contrartual complexities and targets aside, the project ha5 enabled a large volume of disenga8ed learners, often with multiplè barrlers to Inclusion and progression, a solid entry point in moving towards further education and employment, providing essential life skills, tonfidence and 5elf*steern; which 15 Something we are extremely proud Thè number of NEETI'at risk of NEET young people supported by the consortSum through its collaboratlve partnership projects now stands at close to 5,700, whl¢h is a commendable accompllshment. To ther for our Planet Natlonal Lotte Communit Fund Through grant funding secured from The Natlonal Lottery Cornmunity Fund'5"Togetherforour Planer initiative in November 2021, this projert provided free building energy assessments to voluntsry sector organlsatlons acros5 the Liverpool City Region. In addition to an energy assessment and efficiency rating for èach property, recipient organisations rettived a recommendations report containing practical proposals of attions they could take to Improve thelr energv efficiency, reduce carbon emissions and energy biS1s. BetN4een April and June 2022, the projett completed 12 surveys across 9 voluntary sector organisatlons, taking the total number conducted over the Ilfespan of the project to 22 survey5 across 17 or8anisations. Page 5
VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2023 Commumrt Based Di ital IntlusitiEb Rèsearch Uver olcft Re on Comblned Authorlt VOLA Consortlum was commlssloned by the Liverpool City Region Combined Authority ILCRCAI in April 2022 to undertake a research project focused on mapping community-based Di8lt31 Inclu5i0n provision, priorities and practi$ a¢ross the clty region. The research took pla between lune and September 2022 and included engagement with a wide ran8e of Vol¢Jntary Community, Faith and Soeial Enterprise IVCFSEI sector or8anisatitsns- wlth 35 attending the 'listenIn event In June and 137 provldln8 Information about their Servi$. A survey was sent tQ gver 500 community or8anisations. 111 of 137 responding organisations indicated that they deliver Digital Inclusion services. Survey responses ideniifièd.. 143 public spaces acr05S the city re8ion providing computer and Internet access. 57 communlty-based organlsatlons providing di85tal skills training at 119 venues. 29 organisations providing IT equipment to people to use In thelr own home, elther through loan, lftlng or dlscounted sale schemes. 32 organisations engaging over 110 Digital Champions in the delivery of Digital Inclusion SeN15. A key outcome of the researth has been the ¢reatlon and publlcatSon of a live. online map of Dlgftal Indusion servlces,. open-access for public use and a useful resource to help cross.stctor service providers in advisin8 their clients on places to go to access digital services. A planning version, ovÈrlaid to è Digital Exclusion heat map has also been produced tts identify servicè supply against places of high need and identify potential gaps in provision. The data collerted has provided the LCRCA with a rich source of information, with research findings and recommendations helping tg irhform the city region's refreshed Digital Inclusion strategy and assocSated investment decisions. I Connectivit Grants Pro ramme UK Shared Pros èrtt Fund In December 2022, VOLA was appolnted to manage a new di8ltal grants fund that will run until March 2025. The 'Digitul connertlvltyft>r lotol communityfoclllties, grants programme is funded by the LCR Combined Authority as part of its UK Shared Prosperity Fund programme. the UK governmenys successor to ELI Structural funds and part of its Levelling Up strategy. The £1.3 million fund is open to VCFSE sector organisations across the oty re8ion who providè, or are planning to provide public access digital facilitie5 in their communities. The aim of the fund is to provide funding and support to.. Target neighbourhood5 where there is currentty a lack of community-ba5ed di8ital facilities to help local community-based organisations to set up new digltal drop-Ins.' Upgrade outdated and poor-qLtality digital kit andlor improve broadband connectivity where current connections are poor- and 3. Increase capacfty, by provbdlng fundlng to purchase more dewce5, where current facilitles are insufficient to meet demand. Followin8 the agreernent of ellgibility crfterla and development of grant management systems, processes and procedures. the flrst fvndln8 round ran from January to March 2023. £300,000 was all(>cated to 46 successful appllcant organisations. creating 20 new facilities and upgrading andlor Increasing capacity of 26 existing sites. Four further funding rounds are planned over the next two years, the first of which is due to launch June 2023. Page 6
VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2023 Corn er Re¢ lin and Loan Scheme In March 2022. 10 decommlssloned and refurbished laptops were received from WSP, a large intefnational engineering and environmental consultancy business, via an introduttion from Sefton Councll, for use across the Sefton area. This followed the previous donation and refurbishment of 50 decommissioned laptops from Jaguar Land Rover in 2021, wlth fundlng and techniul support from LCR ConnecL Our growlng bank of laptops are now being loaned to learners. member organisatlons and other voluntary sector orEanisations that currently don't have 5uffichent access to IT equipment. The Trustee Board, monagement team and members extend their gratitude to WPS fortheir kind donation, and to Sefton Council for makin8 the connection. Social Valu• We continue to use the HACT wellbeing calculator to quantify the addèd soc131 valuè of attivltles undertaken by thÈ charity, over and above the direct monetary benefits to the public purse, by way of increased tax revenue, reduced welfare benefits and other cost savings derfved from supporting people into employment and further education. In the past year, we have Created a conservatively estimated I'l soclal value, by way of a wellbein& totalling £777,000. It should be noted that this relates to only a relatively small number of participanis. Compared to recent years, wlth the two main delivery programmes comin8 to an end early in the financial year,. hence its lower than usual value. However. overtheir full duration, the New Futures and lekstart programmes have collertively created an estimated I'l social value of £3,671,0. Indeed, since the inttial formatlon of the VOLA partnership, including collaborative delivery prior to its incorporation as a legal entity, consortium actlvfty has generated an estimated I'l social value of £33.4 million. There are a number of key reosons why it is importont to stress that the above values ure considered conservt7tive estlmotes.- Due to rules within t17e HACT50cffuI volue ¢okulotitsn methodology, vulues of mony of the progression outcomes ochievedon New Future5 and other historic NEETprogrommes coftnot be counted uddition to the volue countedforleorners, inltial porticipqtion the progrurnme. Forexumple, prevention of NEET, by way oAreengogement In moinstreom school/educution, progre10 to Trolr)eeships, voGationol troining und generoleducotlon oll cunnot be counted. Therefore, this significontly under-volues the trué wffdersociol volue generoted. Furthermore, the old flower) voluesfrom v4 of the HACTtolculotor ttre rtlll used, as more recent versions ore no longerfreeforchorities to occess. There huve been mony other wlderoutcomes ochleved to which u 59ciuI volue ct7n legitimotely be attrlbuted that hove not been con5t5tently meusured ondso we hove not been t7ble to include them in our colculotions. For exomple, Amproved he¢rlth, mentol heolth onLI conlidence,'fumity, crime. social und environmentol bersefits and improvements. The social value of eurfyproierts wos noi routlnely measured. purticult7rly in thepre-incorpomtlon phase of the consortium. Where posslble. retr05pertlve esthinotes hove since been made. bosed on uv(7iloble historic monitoring dutu, but we know this to be intomplete ond so significontly under-estintes the widersoclol volue of our work in the earlyyeors. Page 7
VOLA Consortium Trustees, Annual Report {including Directors, Report) For the year ended 31 March 2023 In respect of the new UKSPF Digital Grants programme, we are currently exploring potential ways to calculate its social value. It aims to support 130 voluntary sector organisations, who, in turn, will provide great social benefit to their respective cornmunities and clients groups by way of improvin8 digital inclusion. Future O rtunttles and Develo ments Having achieved the primary aim of securlng the charlvs Immedlate, 'post-ESF' future through the UKSPF grant ward, which provldes short to medium term sustainability until March 2025, we plan to capitalise on any further suitable fundlng opportunities that ernerge through the fund in the coming two years. The Consortium Manager will continue to work closely with key stakeholders. Sncludlng VS6 and the LCR Comblned Authorrty to influence policy and strategy and keep abreast of emer8in8 opportunities. Unfortunately, the New Future5 project was not allocated 'ESF cliff edge, funding to extend its delwery in the coming year due to an overall lack of funding. WÈ wlll, therefore, prloritlse the exploration of alternatfve fundlng ftTrr replacement NE provision, which has been a long-standing cornerstone of the consortium's core business for almost 13 years. Potential fundin6 opportunitie5 to establish another Intermedlate Labour Market IILMI programme may also be explored, following the resounding success of the recent Kickstart programme. Another prlmary aim 15 to consolidate our increasing role and reputation in the local digital inclusion arena. The highly successful, Sefton CVS led Indude-IT Mersey digltal Incluslon project- part of the VOLA family, comprising a delivery partnership of exclusively VOLA member organlsations - has been successfully awarded UKSPF funding to extend its 'post-ESF' delivery for a further two years, until March 2025. We will continue to explore other opportunities in the digital inclusion space, including work to attract new donation5 of digital equipment from local business for repurpose and onward distribution. or loan to consortlum members, leamers and the wider sector. Finally, we also plan to invest in the development of a new webslte to improve the chariivs onllne irnage and presence, as the current platform is dated and under-used. Page 8
VOLA Con50rtium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2023 Financial Review Durlng the 2022123 flnancial year, charitable activity generated an income of £522,934 to be used to further the organisation's objectives. Following a modest surplus made last year. this year the charity is again able to report an operating surplus of £143,723. The surplus primarily relates to unspent UKSPF grant funding whrch will be allocated in upcoming rounds taking place in summer and winter 2023. However, p05itivèly. unrestrlcted reserves intreased £12,367. In addrcion to the chariV5 direct income and expendlture, nole 12 to the accounts details'ageny funds held and distributed by VOLA Consortium on behalf of Greenbank College I'principal'l to third party New Futures delivery partners- and similar'agent. fund5 distributed to Ki¢kstsrt employers on behalf of the Department for Work and Pensions IDWPI. VOLA has no discretion or control over the use to which these funds are put by the third-party or8anisations. a5 the charity simply distributes them in line with the instructions given by Greenbank and the OWP. As such, they are not recognised as an asset in the chariws accounts, in accordance with Module 19 of the SORP. As of 31$1 March 2023, the charity maintsined a healthy balance sheet comprlsing suffSclent cash at bank1£42,4131 and payment due from debt0rs1£475,O1. The charltf s Ilquid assets and fOaSt income. combined with prudent financial management and future fundlng plans are forecast to cover planned activities and financial liabilities for the coming financial year. Reser¥es Currently. the charfcy has a re5erve5 policy of £5.LMJO to cover the costs anticipated le.g. financial and legal c05ts1 in the evtnt of the charitable company being wtsund up. Unrestricted reserve5 at year-end stood at £35,858, with ample cash at bank to cover anticipated finan¢ial Ilabilitles In the event of the charl5 closure. Thls pollcy reflects the charity'5 continued p951tion in relation to staffin8 and fixed asset5, in that it does not directty ernploy any staff and, therefore, has no dlrect employment or redundancy liabilitie5, nor doe5 It have any loans or other liabilities in relatTron to buildings either owned or leased. The polity has been reviewed again thts year and will continue to be reviewed annually, subject to amendment should the charity's risk profile change, for example, if the ¢harlty began to dlrectly employ staff or Secu premises. The charlty has no subsidiary undertaklngs. nor is any fund wlthin the charity's accounts materially in deficit. With forecast income from the UKSPF Dlgltal ConnettivSty grants programme in relation to anticipated levels of expenditure. current financial projections provide the 8oard of Trustees with a high degree of confidence in the chartty's ability to continue as a going concern for the coming two financial year5. Page 9
VOLA ConsortiLJm Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2023 Reference and administrative details Charity number: 1158777 Company nurnber.. 08746685 Re8lStered Office: Burlington House. Crosby Road North, Waterloo, Liverpool. L22 OLG Our advlsors Independènt Examiner- Anita Mason BAIHon51 BFP FCA, BWM Chartered Accountants, SuTte 5.1 Tempest, 12 rrthebarn Street. Liverpool. L2 2DT Bankers.. Unity Trust Bank Plc, 9 Brindley Place, Birmingham. 81218 Solicitors-. 8rabners, Horton House, E¥chan8e F138s, VerPool. L2 3YL Directors and trustee5 The directors of the charitable cgmpany (the tharityl are Its trustees for the purposes of charlty law. Thè trustees and officers serving during the year and since the year-end were as follow5.. Trustees James Brett Nicola Crosby Debbie Gayle Mark Ord Hèlen stephens Claire Cook Damian France Ichair of Trustees) Rayrnond Moore (Appointed 13 December 20221 David Roberts Angela White OBE Structure, Governance and Management Govemlng Document VOLA Consortlum Is a company Ilmited by guarantee governed by it5 Memorandum and Article5 of Assoclatlon amended on 25th September 2014. It is registered wtih the Charity Commissiofi. Anyone over the age of 16 c3n become a member of the Company and there are currently 10 truslee members19 in 20211221, each of whom agrees to contribute £1 irs the èvent of the charity windbng up. In addition to the trustees. the charity had 60 mernbership organisations as at 31, March 2023, who also a8ree to contribute £1 in the event of the charity winding up. Appointment of trustee5 As set out in the Articles of Association the trSteeS are elected by members of the charitable company attending the Annual General Meeting. The longest servlce one third of trustees retlres each year and are able to offerthemselves for re*lection. Page 10
VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2023 Structure, Governance and Management (Continued) Trustee Induction abxl training New trustees undeTgo an induction process to brief them on.. their legal obligations under charlty and ompany law. the Charity Commission guidance on public benefit, and infomi them of the content of the Memorandum and Articles of Association, the committee and decision-making processes. Ihe business plan and recent financial performante of the charity. Durin8 thè indurtion protess they mÈÈt kÈy employees and other trustees. Tfustees are encouraged to atténd apprtspriate external trainlng events where these will facilitate the undertaking of their role. Organlsatlon The board of trustee5, which can have up to 12 rnembers. administers the Charity. The board norrnally meets quartedy. A Manager is appointed by the trustee5 to manage the day-to-day operation5 of the charity. To facilitate effertive operations the Mana8er h35 delegated authorttvi within the tèrms of dele8ation approved by the trustees, for operational matters including finance, employment, and servlce delivery activity. The Manager and other members of the staff team are Èmployèd by Sefton Councll for Voluntsry Service, a VOLA membershSp organisation, with VOLA Consortium being rechar8ed for any staff time incurred in the operation of project5. A wrltten membershlp agreement is In place outlining the terms of thi5 5taffin8 relatlonshlp. Related partles and ¢o•peratlon wlth other organlsatlons None of our trustees receives remuneration or other benefit from their work with the charity. Any connection between a trustee or Senior manager of the ¢harity and any client or suppller is disdosed to the full board of trustees in the same way a5 any other contractual relionship wfth a related party. In the current year no such related party transartions were reported. Rlsk Managem•nt The trustees have a rlsk management strategy which comprises.. an annual review of the principal risks and uncertainties th the chzrity faces. the establishment of policies, systems and procedures to mttigate those risks identified in the annual review,. and the Implementatlon of procedures designed to minimise or manage any potential impact on the charlty should those rlsks materialise. This work has identified that financial sustainabillty is the major ffinaneial rssk for the chartty. A key element in the mana8ement of financial risk is a rUlar review of available liquid funds to settle debts as they fall due, regular liaison with the bank and artive managèment of trade debtors and credltors balance5 to ensure sufficient working capital by the ¢haritv. Attention has also been focused on non-financlal risks arlslng from fire. heah and safety of Clients and data protection. These risks are managed by ensurint accreditation is up to date. having robust policies and procedures in place and regular awareness training for staff worklng in these operational area5. Page 11
VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2023 Trustees, Responsibilities The trustees. who ale a150the dlrectors of VOiA Consortlum forthe purposÈ tsf company law. are rosponslble for preparing tha trustees, report and the finantial statsments in accordance with appllcable law and ned Kln8d¢xn Accountiftg Starmlards Iunlted Kingdom Generally Apted Accountlr6 practi). Company law requlre5 the chailtytnjstees to prepare flThanci81 ststements for eath finana yearwhkh 8tve a true and falrviewof the state of affa1 of the charltable company and of the lrttomln8 reso(Ir¢es and appllcatlon of resources. Includin8 the 1ftme and expendtiure. of the charttsble ctsmpany for that year. In preparln8the finandal statements, the trustee5 are requlred to." l) sekrtsuikble acLDunllng polktes and then apY them conslstentlr, 2) observe the methods and prtndple5 In the Ch&rlts SORP: 3) makejudgements and estlmates that are reasonable and prudent,. 41 state whdher appllLzbk UK accounting stsndards have been follovéed. sublett to any mated81 daMireS disclosed and explained In the Ilnan¢tal Statements; Sl prepa the fin8nclal Statements on th• 8oFngconcem b3sls unless It Is iftapproprlate to PTe5umethat the ¢harlty wlll contlnue bu5ines$. The trustee5 are responsible for kpepin8 rwr?ccountlng records that dlsc105e reastsrnable atturacyat anytlme the fftnanthal positlon ofthe thdrlly and to Ènable them to ensure that thÈ financial statements comply wrth thè Companles Act 2(K16. They are also responslblefor the safeguardlnethe assets of the charity and hence fortsknn8 reasonable steps forthe preventton and detectlon of or other iThe8ulaiitie ThÈtrustee5 are rèsponsible for the malntenance and Integrity olthe cOTrate and financlal Inf0MOn Included on the tharttable companvs Eb5ke. Le8L%latton in the Unlted fingdom 8overnln8thp preparat5on ènd dlsseminition ofinancTal statements mtydrfferfrom Iwslatlon in other Jurlsdirtlors. Thts report wa5 approved bythe board of trustees on 15 Detsmbpr 2023 and signe(l on thelr behalf. D¢mlqn Fronce aM7fr•lTru5tees Pa80 12
Independent Examiner's Report To the trustees of VOLA Consortium For the year ended 31 March 2023 I report to the charity trustee5 on rny examination of the accounts of VOLA Consortium for the year ended 31 March 2023. Thls report is made Sole to the charity's trustees, as a body, in accordance wtth Section 145 of the ChaTlties Act 2011. My examination has been undertaken 50 that I m58ht State to the charlty's trustees those matters I am required tg state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I not accept or assume responsiblllty to anyone other than the charity and the charity's trustees a5 a body, for my examlnatlon. forthls report, or for the opinions I have formed. Re5pon5ibilities and basls of report A5 the charity5 trustees tsf VOLA Consortium land also its dirertors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance wrth the requirements of the Companie5 Act 2CKJ61'the 2006 Acf l. Having satlsfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2CQ6 Act and are eligible for independent examination, I report in respect of my examlnation of your charivs accounts as carried out under section 145 of the Charities Att 20111'the 2011 Acrfl. In tarrying out my examination I have followed the Directions 8iven by the Charity Commission under settion 145151 Ibl of the 2011 Act. Independent examlnerfs statement Since the ch3rity's gross income exceeded £250,000 your examlner must be a member of a body listed In section 145 of the 2011 Act. I confirm that l am qualrfied to undertake the examination because l am a member of the ICAEW, whlch Is one of the listed bodies. I have cornpletèd my examination. I can confirm that no matters have come to my aitention in ¢onnection with the exarnination giving me cause to believe that in any matèrial respect: accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act,. or the accDunts do not accord with those record5', or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the actounts give a 'true and fair Vie which is not a matter considered as part of an independent examinatlon,. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for a¢¢ounting and reportlng by charities applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicablè in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn In thls report in order to enable a proper understanding of the accounts to be reached. Page 13
Independent Examiner's Report To the trustees of VOLA Consortium For the year ended 31 March 2023 JLJ/LI AnSta ma1n BAIHons} BFP FCA B WM Chartered Accountants Sulte 5.1, Tempest 12 Tithebam Street Liverpool L2 2DT ot. 15 December 2023 Page 14
VOLA Consortium Statement of Financial Activities Ilncorporating Income & Expenditure Account) For the year ended 31 March 2023 Current Year Ended 31 March 2023 Unre5tricled Fund Re5trirted Fund Totsl 2023 Total 2022 NDte Income and endowments from: Donations and Le8acies Charitable activities 8,473 8,473 37,743 476,718 514.461 150.305 Total Income 46,216 476,718 522.934 150.305 Expendlture on: Charitable activities 33,849 345.362 379,211 140.824 Total expendlture 33.849 345,362 379,211 140,824 Nèt incomÈ/{expend5turel Transfers between fund5 Net movement In funds 12,367 131,356 143,723 9,481 14 12.367 131,356 143,723 9,481 Re¢ontillatlon of lunds: Funds blfwd Funds cld 23,491 35,858 15,197 146,553 38,688 182,411 29,207 38,688 The Statement of Flnanclal Actlvltles also complies with the requirernent5 for an inrne and expendrture account under the Companles Act 2006. All income and expenditure derive from continulng actlvlties. Page 15
VOLA Consortium Statement of Financial Activities Ilncorporating Income & Expenditure Account) For the year ended 31 March 2023 Previous Year Ended 31 March 2022 Unre5trided Fund Restricted Fund Note Totsl 2022 Income and endowments from: Donatlons and Legacies Charitoble activitles 50.613 99,692 150,305 Total Income 50.613 99.692 150,305 Expenditure tsn: Charitable activities 56,329 84,495 140,824 Total expenditu 56,329 84,495 140,824 Net Intomellexpenditurel Transfers between funds Net movement in funds 15,7161 15.197 9,481 15,7161 15,197 9.481 Re¢ondllatlon of funds.. Funds blfwd Funds c1fv4d 29,207 23,491 29,207 38.688 15,197 The notes on pages 18 to 29fvrm partof thesefinancialstotements Page 16
VOLA Consortium Balance Sheet As at 31 March 2023 Qimpany Number.. 08746685 2023 2022 Debtors Cash at bank and In hand 475.CKIO 42A13 517,413 5.515 69.270 74,785 io Credltors: Am¢)unts falllnzduo wlthln on• yoar li 335,(102 36,097 Net CurYL)nl Assets 182,411 38,688 Total Net sets 15 182,411 38,688 nds ofthe charlty Desl8nated Funds General Fund 35.858 23,491 Total unStrIcted Funds 13 35,858 23A91 RertActed Fund 146,553 15.197 Total Restricted Fund 14 146,553 15,197 Totsl Funds 182,411 38,688 The cornpany ts entltted tothe exemptX from the dItreqUlremt contsined In secdon 4n of thè Companks Act 2006, fOrtheartded 31 March 2023. The members havè r#)t required the company to obtsin an aldlt of Its finandal statements fortheye•r In quest In accordanWseL-n 476. Thetwstees atknowled8e thelr r•5ponSIbltIèStOrenyjrtthètthe chartty keeps accountlng re¢Ordsl¢h ¢omplv wlth s¢ctlDn 386 ofthe Aa andfor prÈpariTrgfinancial statem•nts vthlch glve a true and falrwewof the state of affalrs of the comp&ny a5atthe end oltheflrjanclal year and of Its Incomln8 resources ahd opplitatlon of re50vrce4 Indudlng Its income ar expeTrJlrÈ. forihe fftnanfJal year In a¢¢ordance with the reguk•ments of sectlons 394 and 395 and whlch otherwtse mplyW[th the requFrements of the cOmnIeS Art 2006 relatln8to ftnandal 5t3tsmet)ts, sofar •5 Op0¢4tOthecompaTrv. These ?Lrounts have b8en prered in accordance whh the p$105 applltsble tocoMpan$ subjertto the sma companle5' reglme. Th ftnarthl stat•monts apprn%d byth• board oFtru#ew Dg¢•mbw20 7henotes onpagts 19 to 29fomi port Df theseflnonclolrtutements Page 17
VOLA Consortium Statement of Cash flows For the year ended 31 March 2023 2023 2022 Cash flows from operatlng actlvitles Net income per Statement of Financial Activities Adjustments for.. Increase in trade and other receivable5 Increase in trade and other payables 143,723 9.481 1469,4851 289,905 17991 22,267 Net cash (used in) Iprovlded by operatln8 artivities 126.8571 30,949 Net cash from Investlng artlvltles Net cash from flnan¢ing actlvltles Net Idecreasel lincrease sn cash and cash equlvalents 126.8571 30,949 Cash and osh equivalents at the beginning of the year 69,270 38,321 Cash and cash equlvalents at the end of the year 42.413 69,270 Component5 of cash and cash equlvalents Cash and bank balances 42.413 69,270 42,413 69,270 Page 18
VOLA Consortium Notes to the Accounts For the year ended 31 March 2023 l Accounting Policie5 la. Basis ol preparation The flnancial statements have been prepared in accordance wtth Accountlng and Reportin8 by CharitÈes: Ststement of Recommended Practice applicable io charities preparing their accounts in accordance wfch the Flnanclal Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 (effective l January 20151- ICh3ritiÈs SORP IFR5 10211, and the Companies Act 2006 and the UK Generally Accepted Accounting Practice amènded for accounting periods commencing from l January 2019. VOL4 Con50rtium meets the definkion of a publlc benefit entity under FRS 102. Assets and liabilltles are initially rètoÈnlsed at historlcal cost or transaction value unless otherwise stated in the relevant accountin8 policy note. The functional currer5Cy Used by VOLA Consortlum Ss the £ Sterllng. Financlal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financlal Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are re¢oBnlsed in the charity's balance sheet when the charlty becomes party to the contractual provisions gf the rn5trument. Financial assets and liabilities are offset, with the net amounts presented in the flnancial statements, when there is a legally enforceable right to Set off the recognlsed amounts and there Is an intention to settle on a net basis or to reallse the asset and settle the liability simultaneously. Crltltal actountlng estlmate5 and judgements In the application of the tharitVs accounting policies, the twstees are required to make judgements, estlmates and a55umptions about the carrying amount of asset5 and liabilities that are not readily appont from other sources. The è5timatÈs and associated assvmptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estlmate5 and underlyin8 assumptions are reviewed on an ongoinE basis. Revisions to accountinB esilmates are recognised in the period in which the estimate Is revlsed where the revlsion afferts only that period, or in the period of the revision and futtsre perlods where the revlslon affects both Current and future periods. There were considered to be no critlcal aecountlng estlmates orludgements applied in the preparation of these financial statements. Ib. Preparatlon ot the aCcntS on a golng Concern basls An assessment of income strèams and the required fixed and variable overheads qUired to complete the ongoing projects SuccefUlly, the trustees consider that the accourhts should be prepared on a goin8 concern basis. Page 19
VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2023 l Accounting Policies (cont.) l& In¢ome Income is recognised when the charity ha5 entitlement to the funds. any performance conditions attached to the itemlsl of incorne have been met. it is probable that the Incorrte wlll be received and the amount can be measured reliably. Income from government and other gr4nts, whether'capital, grants or'revenue, grants, Is retognised when the charity has entitlement to the funds. any performance conditions attached to the ttemlsl of income have been met. ft Is probablÈ that the Income will be received and the amount can be measured reliably and 15 not deferred. Interest on funds held on deposit is included when recelvable and the amount can be measured reliably by the charity.. this is normally upon notificatOn of ihe Interest paid or payable by the bank. Id. Deferred Income Income from donations and grants, including capltal grants are deferred when the following conditions are met- al when donors specify that donations and Èrants given to the charity must be used In futvre accounting periods, thè income 15 deferred until those periods bl when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such inctsme, the Incorne is deferred and not induded in incoming resources until the preconditions for use have been met. le. Donated servlos and fa¢llltie5 Donated professional sèrvices and don*ed facilities are re¢o8nised a5 income when the charity has control over the item, any ¢ondition5 a550Ci3ted with the donated item have been met, the receipt of Ètonomlc benefrt from the use by the charity of the item is probable and that the economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, the general volunteer time is not reco8nised and refer to the trustees, annual report for more information about their contribution. On ieceipt, donated professional servites and donated facilities are retogni5ed on the basis of the value of the gift to the charity which is the amount the charity would have been wllllng to pay to obtain servlce5 or facSlltles of equlvalent economic benefit on the open market,. a correspondlng amount is then recognlsed In expenditure in the period of re¢eipt. If. Expendlture Expenditure is Tecognised once there Is a legal or construttive obll8atlon to make a payment to a thlrd party, it 15 probable that settlement will be required and the amount of the obligation can be measured reliably. Expendrture is classified under the following actlvlty headlngs: al Expenditure on charitable activities includes the e(lucational activities undertaken to further the purposes of the charlty and their assoclated support Costs. bl Other expenditure represents those items not fallin8 into any other heading. Irrecoverable VAT is charged as a ¢ost agatnst the a¢tivlty for which the expenditure was incurred. Page 20
VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2023 l Accounting Pollcles {cont.) IE. Funds Attounting All income and expendtture together with gains and losses are allocated to a specific charitable fvnd. Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restrirted funds are donations which the donor has speclfled are to be used solety for partictslar areas of the charf(y's work or for specific projerts being undertaken by the charity. Further details of restricted fund5 tO8Èther with thelr purposes are set out In note 14. Ih. Debtors Trade and other debtor5 are recognised at the settlement amount due after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade dlscounts due. li. Cash at bank and In hand Cash at bank and tssh in hand Includes cash and short term highly liquid investments wlth a short maturity of three month5 or le55 frorn the date of atquisition or opening of the deposit or similar account. IJ. Credltors and provlslon5 Creditors and provisions are recognised where the charity has a present obligation resulting from a past èvènt that wlll probably result in the transfer of funds to 3 third party and the amount due to settle the obligation can be measured ur estimated reliably. Creditors and provisions are normallv recognised at thelr Settlement amount after all¢)wing for any trade discounts due. IK Taxatlon The charity is exempt from tax on income and gain5 falling within section 505 of the Taxes Art 1988 OT sertion 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its chariiable objects. Page 21
VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2023 Donation5 & Legaclos UnTestwirted 2023 2022 Donations 8,473 8.473 Charftable Artl¥fty Income Restrlrted 20Z3 Unre5trirted 2023 2022 Greenbank College- New Futures LCR CA- Digital Mapping UKSPF- DlgStal Connectivity Grants The National Lottery Community Fund- Together for our planet DWP- Kickstart Intermedlary LCR Conneci 27.993 9,750 50,613 475,000 9,947 86,745 3,000 150,305 1,718 476,718 37.743 Page 22
VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2023 Charttable actrvfties Educatlon and tralnln8 VCF Capaclty Building Totsl 2023 Totsl 2022 Direct staff costs Project costs 23,097 7.917 24,920 314,073 48.017 321,990 71,759 53,569 Share of support cost5 (see note 51 3,569 3,162 6,731 13,336 Share of governance c05ts15ee note 5) 2,376 2,376 2,160 Bad Debt 97 97 37,056 342,155 379,211 140,824 The direct staff costs are the total seconded staff costs charged to VOLA Analysis by fund Restricted funds Unrestricted funds 11,061 25.995 37.056 334,301 7,854 342,155 345,362 33,849 379,211 For the year ended 31 March 2022 Restricted funds Unrestricted funds 80,401 56,329 136,730 4,094 84,495 56,329 140,824 4,094 S. Support ¢osts Support costs Governance costs 2023 2022 Basis of allocatlon Allocated to education & training, VCF Capacitv 13.336 &uilding Allocated to educatlon & trainin8, VCF Capaclty 2,160 8uilding Contribution to overheads 6,731 6.731 Independent examlners fee5 2.376 2,376 6,731 2,376 9,107 15,496 Page 23
VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2023 Financlal instruments 2023 2022 Carrylng amount of financlal assets Debt instruments measured at amortlsed cost 517.413 74.78S Carrylng amount of ftnanclal Ilabllltles Measured at amortised cost 333,573 36,097 Trustees No remuneration was paid to trustees during the year12022- nil) No Expenses were reimbursed to trustees during the year12022- nil) Related Party transartion5 Remuneration of key management personnel The remuneration of key management personnel Is as follows- 2023 2022 AggreEate compensation 21,605 21,605 19,624 19,624 There We no other related party transactions during the year Debtors 2023 2022 Trade debtors Accrued Income 5.515 475,000 475,000 5,515 10. Cash at bank and in hand 2023 2022 Cash at bank 42,413 42.413 69,270 69,270 11. Credltor5: Amounts fallin8 due within one year 2023 £ 299.234 31,963 2,376 1,429 335,002 2022 £ Grants Payable Trade creditors Accruals and deferred income Funds held as Agent 33,937 2,160 36,097 Page 24
VOLA Con50rtium Notes to the Accounts (continued) For the year ended 31 March 2023 12. Funds held as agent VOLA ConsortiLtm holds £1.429 funds as agent12022.. £31. in a bank account operaied by the charitable company. which Is payable to thlrd parties. The bank balance and an eoulvalent amouni payable to third parties are excluded frorn these acwunts. Previous yeor ended 31 Morch 2022 Balance carried forward 2022 Balance brought forward Received Funder DWP- Kickstart Greenbank College New Futures Programme Totalfunds held 05 ogent Iprevious yeorj Spent 1271,8101 271,810 528 403.208 1403,7391 131 528 675,018 1675,5491 131 Current year ended 31 March 2023 Balance carried forward 2023 Balance brought forward Recelved Funder DWP- Kickstart Greenbank College New Futures ProgrL7mme Total funds held as agent Icurrent yearl Spent 1121,5951 121,595 242,990 1241,5581 1,429 364,585 1363,1531 1.429 Page 25
VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2023 13. Unrestrlcted Funds Previous ye¢7r ended 31 Morch 2022 Balance carried forward 2022 Balance brought forward Transfers between funds Income Expenditure General Fund 26.784 2.423 29,207 (4,287) 152,042) 156,329} 22,497 994 General Fund- New Futures Total Funds (previous yearj 50,613 50,613 23,491 Current year ended 31 March 2023 Balance carrled forward 2023 Balance brought forward Transfers between funds Income Expenditure General Fund 22,497 8,473 27,993 13,6171 122,3781 17.8541 8.505 16,6091 11,8961 35.858 General Fund New Futures 994 LCR CA DI Mapping 9,750 Total Fund5 (current yearl 23,491 46,216 133,8491 35,858 Page 26
VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2023 14. Restricted Funds Balance carried forward 2022 Balance brought forward Transfers between funds Previous ye17r ended31 March 2022 Income Expenditure DWP- Kickstort TNLCF- TFOP LCR- Chority Digitol Total Funds (previous year) 86,745 9,948 177,402) (4 094) 9.343 5.854 99,693 (84,496) 15,197 Balance carried forward 2023 Balance brought forward Transfers between funds Current year ended 31 March 2023 Income Expenditure DWP - Kickstart TNLCF-TFOP UKSPF- Di8ltal Grants Total Funds (current yearl 9,343 5,854 1,718 {11.0611 (5,8541 1328.4471 475,000 146,553 15.197 476,718 1345,3621 146,553 * The Governments Kickstart scheme provided funding to employers to ereate fvmonth job placements for unemployed 16 to 24 year olds in receipt of Universal Credit. As a Gateway Body. VOLA acted as an intermediary between the DWP and local employers to help them to manage their Kick5tart grant and ensure that participants were well trained and s¢Jpported while engaged in the scheme to enable their c*nward progression to poid employmeTht. * The Natlonal Lottery Communlty Fund's Yogether for our Planet" ITFOPI fund provlded freè energv assessments to voluntary sector organisations. VOLA coordinated thls small prolett across the Liverpool City Regiorh ILCRI. UKSPF- Di8ltal Grants projett provides grants and sUPPOrt ftsrthe voluntary. community, faith and social enterprise IVCFSEI sector to Improve publlc-facing IT facillties & create new facilities in priority areas. The Digttol ConnectivityforLocal Community Focilities Grants project is funded by the UK Government through the UK Shared Prosperity Fund, with the Liverpool City Region Comblned Authority as the lead authority. Page 27
VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2023 IS. Analysis of Net Assets Previous yearended 31 March 2022 Unrestrlcted Funds Restricted Funds Total Funds Net Current Assets 23.491 23,491 15.197 15,197 38.688 38,688 Current year ended 31 March 2023 Unrestrirted Fund5 Restrlcted Funds Total Funds Net Current Assets 35,858 35,858 146,553 146.553 182,411 182,411 Pase 28