Company Number: 08746685 Charity Number: 1158777 VOLA Consortium IA Company Limited by Guarantee) Annual Report Audited Financial Statements For the year ended 31 March 2025 Page I VOLA Consortium Contents Pages 3-10 Trustees. Annual Report. including Trustees. Responsibilities 11-14 Independent Auditor's Report 15-16 Statement of Financial Activities 17 Balance Sheet 18 Cash Flow 19-27 Notes to the Financial Statements Page 2 VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2025 The trustees. who are also Directors for the purposes of the Companies Att. present their annual report and financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared In accordance with the accounting policies set out in note I to the accounts and comply with the charity's governing document. the Companies Act 2LJ)6 and Accountin8 and Reportin8 by Charities.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 applicable in the UK and Republic of Ireland. 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 is the Company Memorandum and Articles of AsscKiation as amended on 25th September 2014. Objectives and Activities The charity's objects are". a) the advancement of education and lifelong learning in such ways as the trustees think fit: b) the provision of crime prevention and offender rehabilitation sepiices: cl the promotion of the voluntary sector in the Liverpool City Region and the surrounding areas in particular by- i) building the capacity of charitable and voluntary organisations operating within the area of benefit and providin8 them with the nece55ary sUPPOrt. information and service5 to enable them to pursue or contribute to any charitable purpose but in particular the advancement of education and the rehabilitation of offenders: and ill promoting. organisinB and facilitatin8 Co-operation and partnership working between chadtable and Voluntary organisations and statutory and other relevant bodies within the area of benefit. For the purposes of rhis clouse, "the voluntory sertor. meons charities and voluntary orgonisations defined as follows.. "Chorities ore orgonisotion5. which ore estobli5hedfor exclusively choritoble purposes in ottordance with the low of England and Woles. "Volunfary Organisotions" ore whole or o significont settion of the community. and which are not permitted by their constitution to make o profitfor private distribution. Volunrory orgonisotions do nor include locol government or orher stotutory outhorities" d) To further such purposes a5 are charitable within the law5 of England and Wale5 a5 the Trustee5 shall from time to time determine. In setting our objectives and planning our artivities the trustees have given careful consideration to the Charity Commi55ion'5 guidance on public benefit. Page 3 VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2025 Con50rtium Membershi In Its eleventh year of operation as a re8iStered charity. as at 31 March 2025. VOLA Consortium's membership stands at 66 voluntary sertor or8anisations {67 last year}- with one former member unfortunately ceasin8 trading in September 2024. Artivities and Serylces Over the13st twelve months, the charit(s operations have focused on providing employment support to economically inactive people and continued support for the local digital inclusion agenda. This has been enabled by inveslment from the Liverpool City Region Combined Authority ILCRCAI UK Shared Prosperity Fund IUKSPF), delivered through two key projerts: Continued delivery of the 'Digitol Connectivity For Locol Community Focilittes. grants programme: 7he Progre55 Portnership'_ a new Community-Led Employment Support projett. The Progress Partnershlp The Progre55 Partnership project commenced in April 2024. initially funded until March 2025. with the aim of supporting 680 economically inactive city region residents into or closer to employment. with a target of 50% into pald work. education or training. A 14-5tron8 delivery partnership was formed, comprising consortium member5 With expertise in working with people from diverse ethnic backgrounds, women. disability. and neurologicallneurodivergent conditions. amon8St others. all 8roups represented disproportional￿ in temis of economic inactrvity. A team of experienced Key Workers support people in a holistic manner, through individually tailored packages of support, to help them overcome ihe challenges that prevent them actively looking for work. The project use5 a blend of One-t(￿ne and small group work to help participants to access support Services and opportunities to build confidence and create pathways for progression. In addition to si8npostin8 and encoura8in8 Individuals to access complementary 'barrier removal. seprfices. Key Workers draw on their wealth of experience in providing tailored employability SUPPOrt such a5 coachin& confidence buildin& CV writing. job-search skills and inteprfiew techniques; which are introduced at the right point in people's journey5. In addition to the primary Key Worker support service. most project delivery partners provlde other 'ln-house' barrler removal sep4ices le.g. recreation. advice, health/wellbeing. food bankslpantrles, clothes-banks and tralning services). with embedded links to other such services where not delivered in-house. Proactive referral to complementary activities and senrfices is a key feature and clear strength of the delivery model. supporting people's personal and social development. Contractual recruitment targets were exceeded by 12%. with 764 local people en8aged and supported. 84% of whom identified as being socially excluded. The partnership has been highly 5ucce55ful in reachin8 the priority groups it set out to engage. 56% of participants were female: 47% disclosed a disability or lon8-term health condition. 37% were from ethnic minority backgrounds (both far surpassing their respective 25% targets). 21% were aged over So and 3% over 65. Page 4 VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2025 During the yeaf. 419 people completed their programme of support, with 93 contlnuln8 on pro8ramme Into the subsequently announced Year-2 extension of the project. 59% of 764 participants progressed to a posttive destination following the support they received. including 153 people in employment or self-employment. 160 in educationltraining and 172 moving from economic inactivity into active job-search. In addition, 154 people indicated an improvement in basic skills on exit, with 76 achieving basic skills qualifications. Beyond the 'hard' job and progre55ion outcome5. the projert 15 helping to brin8 about 518nifi(ant improvement5 in personal development. aspiration & motivation. health & wellbeing and employability. with clear succe55 in buildin8 personal capacity and supportin8 transformational 8rowth. These underpinnin8 enablers and softer skllls lay sustainable foundations for future employability, particularly among those facing multiple disadvantage. A robust. independent evaluation took place in Febwary and March 2025. with a comprehensive report produced that detailed the varied successes of the project. including a suite of heart-wam)ing case studies highlighting the real-IlfÈ stories and positive impacts on the people it supported. This is available on the tharitys website Iv4ww.volamerse side.or 'Digital Connectivity For Local Community Facilities. Grants Proyamme In Its third year. this £1.3 mlllion 8rants pro8ramme is available to LCR-based. voluntary. community. faith and social enterprise (VCFSE) sector organisations that provide. or are planning to provide public-acces5 digital facilities to their communities. These include both facilities that are 'open-acces5' to the general public and those targeted at specific client 8roups. The primary focus is on sUPPOrtin8 places where people can 80 to '8et online, and that support LCRCA Digital Inclusion priorities. The overall purpose of the grants pro8ramme is to support VCFSE sectoi organisations to: Create new facillties in areas of need (spatial and thematlcl- and Improve or expand existing facilities. In addition to the 117 grants made in the first three funding rounds. a further 65 grants were awarded over two more funding rounds in thi5 financial year. taking the total investment to £1.314,849 through 182 individual grant awards. In total, over the five funding rounds 161 individual organisations received fundin8, covering 170 different site5. 21 organisations were funded rnore than once {19 twice and I three times): 12 of which for the same site and 8 for different sites. 83 completely new facilities were created. with 87 existing facilities either upgraded and/or expanded In terms of capacity. Funding has been awarded to a wide variety of or8anisations, including 76 reeistered charities, 19 CIOS and 66 other not-for-profit organisations {46 CICS, 11 CLGS. plus 9 others). including 12 Churches and a Mosque. Beneficiary organisations possess a wide nature of functions, activities and target groups. General purpose community centreslhubs accounted for the largest proportion of erant recipients135%1. providing open-access digital facilities to their local communities. Advice, education, training & employment support providers accounted for a significant proportion {16%1. as did organisations workin8 Wlth children & young people119%), minority ethni communities {Il%l. di5ability19%1. and mental health16%). Page S VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2025 A multitude of other or8anisations with different remits. specialisms. and tar8et groups have also benefited from the fundin& Including health. mental health. advice a8encies le.g. CABS). youth centres. older people. carers. family support, domestic violence services, addiction recovery, homelessness support, veterans, organisations, LGBTQ+ groups, sports clubs, creative arts initiatives, and even an urban fami and local community allotment. As a result of the investment, 93 facilities reported improved digital conne(tNity through faster broadband/intÈmet speeds, and 162 reported intreased usage of their IT fatilities. Beneficiary Organisations reported an overall increase of 4.373 weekly IT users. with an average rise of 26 per facility- Increases ranged from single figures for some organisations to more than 50 for others. depending on the size and nature of the or8ani5ation and its IT facilitie5. A comprehensive, independent evaluation of the grants programme took place in early 2025 whereby 97 out of 161 funded organisations responded. This was an excellent response rate, with universally high levels of satisfaction reported in rèlation to all elements of the Programme's application process and 8uidance. as well as the support they received individually from the Grants Team at VOLA. A detailed evaluation report is available on the charivs website. It analyses programme design and rationale, delivery and performance. positive impacts for beneficiary organisations and their seThi￿ users, key success factors. and recommendations for future development. Future O ortunities and Devek> ments Following the announcement by government in the Autumn Budget of a transition year for UKSPF. in February 2025 the LCRCA confirmed a one-year extension to both of VOLA'5 UKSPF projects until March 2026. Thi5 5ecure5 the charitvs future for the coming twefve months. whilst the government's new plans for skills. employment support nd communities unfold. The Progress Portnership ITPP} received £668k to support a minimum of 442 economically inactive resident5 to move Into or closer to employment. Additionally. the Digitol Connectivity For Locol Community Facilities 8rant programme received a further £284k. with a target of distributing 32 grants to support local facilltles. Desplte a 2S% reduction in revenue fundin8 (applied consistently across all LCRCA UKSPF projects), through careful budget planning. we have managed to retain all TPP projert delivery partners and sustain staffing at 2024125 levels. both key priorities of the Board. OrSglnally planned to end in March 2025. the twelve month UKSPF extenslon was the result of polltlcal pressure from within the sector, together with local and mayoral combined authoritie5 across the UK. in which VOLA played an artive role, alongside it5 partners in VS6. The aim of this transition period 15 to provide more certainty ahead of wider funding reforms over the comirbg twelve months, planned to facilitate a Smooth transition from the current UKSPF programme to a new fundin8 framework in the future. details of which are as yet unknown. With funding in place to ensure the charl￿S immediate sustainability until March 2026. and ne8Otiations currently under way concerning the extension of a more recently secured fvnding stream until March 2027 (see Financial Review section). further new sources will be identified in the coming year to support the charity's longer-term SU5tainability. The Consortium Manager will continue to work closely with key stakeholders, including VS6 and the LCR Combined Authority, to influence policy and strategy and to stay alert to emerging opportunities. Page 6 VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2025 Of particular interest is the govemmenys Get Britoin Working {GBWI White Paper. published in November 2024. which presents both risks and opportunities to the wider employment support sector and to the charity itself. Our priority for the coming year is lo proattively engage in the emerging local GBW landscape to Influence its deslgn and. ultimately. to ensure we position the consortium and wider VCFSE sector to capitalise on the opportunities It presents. The new Connect to Work employment support programme for economically inactive people and the Youth Guorontee Trailblazer for inactive young people aged 18-21 have been identified as key funding prioritie5 for the charitv. Financial Review During the 2024125 financial year. charitable activity generated an income of £1.391,857 to be used to further the organisation's objertives. Followin8 a slS8ht reduction in unrestrirted reserves of £3.567 last year. unrestrirted reserves increased si8nificantly thls year, by £11.998, leaving a carry forward balance of £44.289. A modest (£5,750) underspend on The Progress Partnership project over the year. against total advance grant payments received from our funder ILCR Combined Authority). was held by the charity at financial year.end. and has since been retumed to the funder. As of 31" Marth 2025. the tharity maintained a healthy balante sheet. with sufficient cash at bank1£64,0351 and actrued income {£30,6271 to more than cover all accrued expenditure relating to the financial year1£50,3731. With the charity's forecast income from the two UK5PF-fvnded projerts in relation to anticipated levels of expenditure, current financial projections provide the Board of Trustee5 with strong confidence in the charity's ability to continue as a 8oln8 concern for the comin8 2025126 financial year. Further to this, a new contract ha5 recently been secured from the LCR Combined Authority (September 20251 to manage Youth Guarantee Trailblazer Community Grants pro8ramme. The initial contract runs until March 2026. with a potential three-year extension clause. Central government has since confirmed additional fundin8 for the Trailblazer programme in 2026127- and we are currently in negotiations with the LCR Combined Authority concerning the 2026127 funding level. This provides assurance of the charity's ability to continue as a going concern until at least March 2027, with potential for an even longer period of financial stability. Reserves Vnrestrirted cash reseprfes are ample to cover anticipated financial liabilities in the event of the charivs closure. The charity maintains a feseThes policy of £5.(MXI to cover the costs anticipated le.8. financial and legal costs) in the event of the charitable company being wound up, This policy reflects the charivs continued position in relation to staffing and fixed a5set5, in that it doe5 not dirertty employ any staff and. therefore, has no direct employment or redundancy liabilities. nor doe5 it have any loans or other liabilities in relation to buildin85 either owned or le35ed. Thls pollcy has been reviewed again thls year and wlll tontinue to be reviewed annually. subject to amendment should the charity's risk profile change, for example, if the charity began to directly employ staff or secure premises. The charity has no subsidiary undertakings. nor is any fund within the charity's accounts materially in deficit. Page 7 VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2025 Reference and administrative details Charity number: 1158777 Company number: 08746685 Registered Office: Burlington House, Crosby Road North, Waterloo, Liverpool, L22 OLG Our advisors Auditors: Anita Mason BA(Hons) BFP FCA, Mitchell Charlesworth, Suites C. D. E & F. The Plaza. 100 Old Hall Street. Liverpool. L3 90J Barlkers: UnityTrust Bank Plc, 9 Brindleyplace. Birmingham. Bl 2HB Solicitor5: 8rabners, Horton House. Exchange Fla85. Lrverpool. L2 3YL Dirertors and trustees The directors of the charitable company (the charity) are its trustees for the purposes of charity law. The trustees and officers serving during the year and since the year*nd were as follows= Truslees Jame5 Brett Andrew Coulson (Appointed 11 December 2024) Damian France (Chair of Trustee51 Raymond Moore Angela White OBE Claire Cook Nicola Crosby Debbie Gayle Mark Ord Structure, Governance and Management Governing Document VOLA Consortium Is a company limlted by guarantee governed by its Memorandum and Articles of Association amended on 25 September 2014. It is registefed with the Charity Commission. Anyone over the age of 16 can become a member of the Company and there are currently 9 trustee members {8 in 20231241, each of whom agrees to contribute £1 in the event of the charity windin8 up. In addition to the tmstees. the charity had 66 membership organisations as at 31" March 2025. who also a8ree to contribute £1 in the event of the charlty wlndlng up. Appolntment of trustees As set out in the Articles of Association the trustees are ele(ted by members of the charitable company attendin8 the Annual General Meeting. The longest service one third of trustees retires each year and are able to offer themselves for rethelection. Page 8 VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2025 Structure, Governance and Management (Continued) Trustee Inductlon and tralnln8 New trustees under80 an Induction pr¢xess to brief them on= their legal obli8ations under charity and company law. the Charity Commission 8uidance on public benefit. and inform them of the content of the Memorandum and Articles of Association, the committee and decision-makin8 processes, the business plan and recent financial performance of the charity. During the induction process they meet key employees and other trusiees. Trustees are encoura8ed to attend appropriate external trainin£ events where these will facilitate the undertaking of their role. Organlsailon The board of trustees. which can have up to 12 members. administers the charity. The board normally meets quarterly. A Manager is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations the Manager has delegated authority. within the tem)s of delegation approved by the trustees, for operational matters including finance. employment. and seprfice delivery activity. The Manager and other members of the staff team are employed by Sefton Council for Voluntary Service. a VOLA membership organisation. with VOLA Consortium being recharged for any staff time incurred in the operation of its projects. A written membership agreement is in place outlinin8 the temis of this staffing relationship. Related partles and Covoperatlon wlth other orEanlsatlons None of our trustees receives remuneration or other benefit from their work with the charity. Any connettlon between a trustee or senior mana8er of the charity and any client or supplier is disclosed to the full board of trustees in the same way as any other contractual relationshlp with a related party- In the current year no such related party transactions were reported. Rlsk Management The trustees have a risk management strategy which comprises. an annual review of the principal risks and uncertainties that the charity faces: the establishment of policies, Systems and pr(xedures to mitigate those risks identified in the annual revlew- and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due, regular liai50n with the bank and artive management of trade debtor5 and creditors balance5 to ensure sufficient working capital by the charity. Attention has also been focused on non-financial risks arising from fire. health and safety of clients and data protection. These ri5k5 are managed by ensurin8 accreditation 15 UP to date. having robust policies and procedure5 in place and regular awareness training for staff working in these operational areas. Page 9 VOLA Consortium Trustees, Annual Report (including Directors, Report) For the year ended 31 March 2025 Trustees, Responsibilities The trustees. who are also the directors of VOLA Consortium for the purpose of company law. are responsible for preparin8 the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for eath financial year which give a true and fair view of the state of affairs of the charitable company and of the incomin8 resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparin8 the financial statements, the trustees are required to- 11 selert Sultable attountlng pollcies and then apply them consistently- 21 observe the methods and principles in the Charities SORP- 31 make judgements and estimates that are reasonable and prudent; 41 state whether applicable UK accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements: 5) prepare the financial statements on the going con￿rn basis unless it is inappropriate to presume that the charity will continue in busine55. The trustees are responsible for keepin8 proper accountin8 records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 21)06. They are also responsible for the safeguarding the assets of the charity and hence for taking reasonable Steps for the prevention and detection of fraud or other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's webstte. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may differ from le8islation in other jurisdictions. Audltor In accordance with the compan*s artlcles. a resolution proposing that Mitchell Charlesworth (Audit) Limited be reappointed as auditor of the company will be put at a General Meetin8. Dlsclosure of Infomiatlon to the audltor Each of the trustees has confirmed that there is no information that they are aware of which is relevant to the audlt, but of which the auditor is unaware. They have further confirmed that they have taken appropriate step5 to identify such relevant information and to establish that the auditor is aware of such information. Small company provisions This report has been prepared in accordance with the special provision5 relating to small companie5 Within part 15 of the Companies Act 2(rfJ6. This report was approved by the board of trustees on 16 December 2025 and signed on their behalf. Dqmiqn France Chair of Trustees Page 10 Independent Auditor's Report To the members of VOLA Consortium For the year ended 31 March 2025 Oplnlon We have audited the financial statements of Vola Consortium for the Period ended 31 March 2025 which comprise the statement of financial activities. the balance sheet. the statement of cash flows and the 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 oplnlon. the finandal statements: give a true and fairview ofthe state of the charirfs affairs as at 31 March 2025 and of its in¢om•n8 resources and application of resources. for the Period then ended: have been properly prepared in accordance with United Kin8dom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Charwties Act 2011. Basls for oplnion We conducted our audrt in accordance with International Standards on Auditlng IUKI (ISAS IUK?) and appllcable law. Our responsibilities under those standards are further described in the Auditor's respon5ibilitie5 for the audit of the financial statements section of our report. We are independent of Vola Consortium 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 belleve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Please note that the previous yearfs comparative figures are unaudited as an independent examination of the financial statements for the year ended 31 March 2024 was performed. Concluslans relatln8 to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of ccounting in the preparation of the financial statement5 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 Vola Consortium'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 respett to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so. conslder whether the other information is materially Inconsistent with the flnancial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. Page 11 Independent Auditor's Report To the members of VOLA Consortium For the year ended 31 March 2025 If we identify such material inconsistencies or apparent material misstatements. we are required to determlne whether this gives rise to a material misstatement in the financial statements themselves. 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 thls regard. Matters on whlch we are requlred to report by exceptlon We have nothin8 to report in respect of the followin8 matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: the information given in the financial statements is inconsistent in any material respect with the trustees, report- or sufficient accounting records have not been kept: or - the financial statements are not in agreement with Ihe accounting records.. or we have not received all the information and explanations we require for our audit. Responsibllltles of trustees A5 explained more fully in the Statement of Tru5tees' Responsibilwtie5, 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 the directors 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 Vola Consortium's ability to continue as a 8oin8 concern. disclosin& as applicable. matters related to 80in8 concern and using the 80in8 concern basis of accounting unless the trustees either intend to cease operations. or have no realistic alternative but to do so. Audltor's re5ponslbllltles for the audh of the financlal statements We have been appointed as auditor under section 144 of the Charitie5 Act 2011 and report in accordance with the Act and relevant regulations made or having effett thereunder. Our objeaives 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 detert a material misstatement when it exists. MisStatement5 can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be experted to influence the economic decisions of users taken on the basi5 of these financial statements. Ifregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our re5ponsibilitie5, Qutlined above, to detert material mi55tatements in re5pett of irregularities, including fraud. The extent to vthich our procedures are capable of detetting irregularities. including fraud, is detailed below. Page 12 Independent Auditor's Report To the members of VOLA Consortium For the year ended 31 March 2025 The extent to whlch the audlt was consldered capable of detectlng Irregularltle5. Includlng fraud Our approach to identifylng and assesslng the risks of material misstatement in respect of irregularltles, Includin8 fraud and nonvernancÈ costs Basls of 2024 allocatlon 2025 Contribution to overheads Allocated acr055 932 all 3 funds 1,907 1.9)7 Independent examlners fees Allocated to 2,496 General Funds Allocated to General Funds Independent audit fee5 1,9)7 9.707 3,428 Page 23 VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2025 Flnanclal Instruments 2025 2024 Carrying amount of financial assets Debt instruments measured at amortised cost 94.662 88,562 Carryong amount of financlal1Sabllltles Measured at amortised cost 50.373 43,608 Trustees No remuneration was paid to trustees during the year {2024- nil) No Expenses were reimbursed to trustees during the year12024 - nil) Related Party transartions During the year, a large number of consortium members participated in the charwtable projerts led by VOLA. The purpose of VOLA'S operations IS to lead charitable projects on behalf of its consortium members and other associated chartties. hence. multiple consortium members received payments from VOLA in the period. which have been reco8nised as restricted expenditure in the statement of financial attivity- For further detail on which related parties received funding and amounts they received please contact stuart.mc ro volamerse 5ide.or Remuneration of key management personnel The remuneration of key management personnel is as follows: 2025 2024 A8gregate compensation 40,408 29,165 40,408 29,165 Debtors 2025 2024 Trade debtors Accrued Income 30.627 618 30.627 618 Cash at bank and in hand 2025 2024 Cash at bank 64,035 64,035 87,944 87,944 Page 24 VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2025 10. Credltors: Amounts falllng due wlthln one year 2025 £ 6,929 29,894 2024 £ 19.995 21,117 2.496 Grants Payable Trade creditors Accruals and deferred income Unallocated grant funds repayable 5.750 50.373 43,608 11. Unrestrirted Funds Previous year ended31 March 2024 Bolonce Corried forword 2024 Bolonce brought fvnvord Transfers between Aunds Income Expenditure Generol Fund 35.858 (6.167) 32.291 Generol Fund- VSNW/ VS6 repre5entotive mles General Fund- WEA. Multiply Steerinq Group 2.5tXI (2.5￿) (1(￿} Totol Fund5 (previous year) 35.858 (6,1671 32.291 Current year ended 31 March 2025 Balance Carried forward 2025 Balance brought forward Transfers between funds Income Expendlture General Fund 32,291 (10,9971 22,995 44,289 Total Funds (current year) 32,291 (10,9971 22.995 44,289 The transfer between funds relates to a surplus generated over the last two financial years resulting from the simplified cost option applied to the two UKSPF projects by funders. in relation to overheads contributions, which re paid at a flat rate of 15% of projert Staff costs attributable to these projerts. Page 25 VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2025 12. Restricted Funds Balance Corried Forword 2024 Prevlous year ended 31 March 2024 Bolonce brought fonvard Transfer5 between fund5 Income Expenditure UKSPF- Digitol Gmnts 146.553 451.354 (585.245) 12.662 Totol Funds (current yeaTI 146.S53 451.354 1585.245) 12.662 Balance Carried Forward 2025 Current year ended 31 Marth 2025 Balance brought forward Transfers between funds Income Expenditure UKSPF- Di8ital Grants 12,662 560.950 1560.9421 (12.670 UKSPF - The Progress Partnership 830,907 1820.5821 (10,325 Total Fund5 {current year) 12.662 1.391.857 (1,381.5241 (22.995 • UKSPF- Digital Grants projert (Digitol Connertivitylor Locol Community Focilities) provides grants and support for the voluntary. community. faith and social enterprise sertor to improve public.facing IT facilities & create new facilities in priority areas. UKSPF . The Progress Partnership is a community-led employment support initiative that provides Key Worker support to economically inactive residents of the Liverpool City Re8ion to help them io overcome barriers that prevent them from actively looking for work. Both project5 are funded by the UK Government through the Liverpool City Region Combined Authority ILCRCA) UK Shared Prosperity Fund IUKSPF). Page 26 VOLA Consortium Notes to the Accounts (continued) For the year ended 31 March 2025 13. Analysis of Net Assets Previous year ended 31 Morch 2024 Unrestricted Funds Restricted Funds Totol Funds Net Current Asset5 32.291 32.291 12.662 12.662 44,953 44.953 Current year ended 31 March 2025 Unrestrkted Funds Restrkted Funds Total Funds Net Current Assets 44,289 44,289 44.289 44.289 14. Company Limited by Guarantee The company 15 limited by guarantee, not havin8 a share capital. The liability of members is limited to £1 each in the event of winding up. Page 27