The Hub-yeovil Community Support Charity IA ChaTitsble C¢xnpany Limlt•d by Guarantee) Annual Report and Financlal Statemonts For the Year Ended 310ecember 2023 Company Numbgr. 07358159 Charity Rgglstered In England and Wales NUrn￿r 1159016 The Hub-yeovil Community Support Charity Contents For the Year Ended 31 December 2023 Pa Reference and AdminLstrative Delails Trustee Directots. Report 3-13 Independent Examiners. Report 14 Statement of Finanual ActNities 15 Balance Sheet 16-17 Cash flow statement 18 Notes lo the Finanaal Slat8ments 19-31 Page 1 The Hub-yeovil Community Support Charity Reference and Administrative Details For the Year Ended 31 December 2023 Trust••s N A Downton (Chair) J Bowes L Eveleoh J A Matthews JSMcCa O Scarratt Prlnclpal Address and Reglstered Office 13 Buckland Road Pen Mill Trading Estate Yeovil Somerset BA21 SEA Chlef Executive Officers K Comber S Kibby (until 31 March 2023) Company R8gi$tration Number 07358159 Charity Registratlon Number 1159016 Indep8ndent Examlner Mithelle Ferris FCA DChA bert G(￿rnan LLP G0￿jW00d House Blackbr(M)k Park Avenue Taunton Somerset TA12PX Bank8rs CAF Bank 25 Kings Hill Avenue Kings Hi West Malling Kent, ME19 4TA Sollcltors Battens Solicitors Mansion House Printss St Yeovil Somerset BA20 1 EP Page 2 The Hub-yeovil Communtty Support Charity Trustee Directors. Report For the Year Ended 31 December 2023 The Trustees {who are also the Director5 for the purpose of Company Lawl have pleasure in presenting their annual report and the financial slalemenls for the year ended 31 December 2023. The Fxovisions of the Statement of Recommended Practice "Accounting and Reporting by Charities" ISORP FRS 102- implemented 1 January 20191 have been adopted in preparing the annual reFK)rt and financial ststements of the charity. Publi¢ benefit The trustees report thal the charitable activities. desuibed in the "MisS￿n stalemenl". "Acliviti8s' and "Achievements and perfonmance" paragraphs. are for the public benefit. The trustees also confirm that they have complied with section 17151 of Ihe Charities Act 2011 to have due regard to the public benefrt guidance published by the Charty Commiss￿n. STRUCTURE. GOVERNANCE AND MANAGEMENT The charity was established as a company limited by guarantee {inco￿orated 26 August 2010) and registered as a charity with the Charity Commission {registered 29 October 2014). The affairs of the charity are govemed by ils memorarKYum a￿1 articles under which the members of the company are ils Irustees and control of the charty and its Fxoperty and funds. The Trustees serving during the year and since the year end are as folknws.. N A Downlon J Bowes L Eveleigh J A Matthews J S Mccatse D Scarrall Recrultm•nt and appolntment of trustees A robust process is in place lor the recruitrnent arKI appointment of tnjstees. Trustees cary out a skills gap analysis before recruiting and now advertise wmjely to find peop18 with the required ski115 and experience. Induction and Iralnlng of tru$toes Newly appointed trustees are provtded with a comprehensNe induction process induding the provision of appropriate documentation re roles and resFonsibilities. a tour of the organisalK)n and mentoring by 8Stablished trustees. Arrangernents for sétting key managoment personnel remungration The trustees employ staff lo run the day lo day activities of the charity. wtlh strategic decisions being taken at trustee level. The Chiel Exe¢ubve OffKer and the Operations Manager are (xinS￿Jered to be key management personnel. The Trustees meet al least quarterly and delegate all operational decisions and running of the Hub to the CEO. The truslee board is indeperKlenl from the management team. The day-It>day management is then delegated onto the Operations Manager. The Chair carries oul an annual appraisal of thg Chief Execyjlive Officer ar￿ agrees their salary with th8 other trustees. This r8view will include benchmarking of salaries with other CEOS of local charities or similar organisati¢)ns. Page 3 The Hub-yeovil Community Support Charity Trustee Direclors. Report For the Year Ended 31 De￿mber 2023 Objectives and activities Object and aims The objects of the Charity, as set out in the goveming d￿Ment. are". -Reslricted speafically. only fLY the publ￿ benefft to religve the needs of young people and adults with learning disabilities I difficulties, physical disabilitigs. arKI emotional and srrial diffiixjllies, in particular by providing training, skills and support that will enable them to lead meaningful and independer)I lives, fulfil their aspirations lo wcyk and make posib.ve contributions to society." We ￿VI&W (Mjr aims, objectives and activilies each year. This review kx)ks at what we achieved and the outcomes of our work in the previou$ 12 months. The review looks at the success of each key actNity and the benefts they have brought to those groups of p￿PIe we are sel up to help. The review also helps us ensure our aim. obJ"ecbves and ath((￿$ ￿maIn focused on our ststed purposes. In the Summer of 2023. the Board carried a review of the Charity's VL8ion, MissK)n and Values, in ¢onsullalion with all key slakehohjers and devebted an upjated strategy to reflect the current operations and future direction of the Hub. Our overall Vision is "Adults with leaming disabililies arKI autism enjoy equ£l access to ￿lSure. leaming and employment. leading fuffilliw lives where they can achieve Iheir goals, be part of the communty and realise their true potential. Our Mission is work with adults with leaming disabilit￿S and aulism to provide support, training and life skills that make a meanirofijl difference to IK)w indepeThJently they Can Irve their INes." Achievements Demand continues lo grow for our seNices. In 2023 we increased from 66 trainees (service us8rs) to 72 Irainees19.1°A) attending, our highest number ever. In addition the number of trainees days per week has also increased from 156 to 17019.0% increase) the kn(xk4(N) effect of increased income. One of our key su￿$$eS in 2023 was obtaining Nats'onal Lottery funding of £98,197 spread over three years. This funding enabled the Hub lo appoint a full-tirne Wellbeing Co-ordinator. The new post gels lo know trainees as they start at the Hub. provNJes responsive support to trainees. adds value lo the service already provided and supports trainees to have a more positive eXperier￿e. He reduces anxieties and helps lo improve the mental wellbeing of trainees, their families and carers. He also ha5 a significant impact on the Work Coaches and support staff at the Hub who no longer have to juggle working wilh their small groups against providing additional support for a group member who is unable to fully part￿ipate in the session and is disturbing the environment for IAher people. Page 4 The Hub-yeovil Cornmunity Support Charity Trustee Directors, Report For the Year Ended 31 December 2023 The Wellbeing Co-ordinator supports Iwo main groups of people". 1. People joining the Hub for the first lime. who can find the transition a challenging and anxiety provoking time. which often Inggers behaviour that they would not regulady demonstrate. F example. they may simply be anxious Of upset.. others run., some scream" some self-harm., some rock,. others pace up and down- a few may lash out.. elc. The Wellbeing Co-ordinator is key in managing this process Ihey meet wrth polenlial new referrals and support them during louts and taster sessions at the Hub before they join. This support continues during their early dayslweeks al the Hub lo make the transilion as stress-free as Fossible. 2. Existing trainees 2re also known lo exhibit heightened behaviour as a result of new trainees joining. changes in delivery or staff. or as a result of SitUat￿nS outside of the Hub activities. Providing additional support lo cope and adapt to the changes not only supports the individual bul results in other trainees experiencing a calmer arKI more managed environment. Case Study Trainee A joined the Hub in eady 2023. During,, The previous support that was given to Trainee A by the her indLl¢tion and first few days. she spoke; Wellbeing Co-ordinator has helped to Cfeale trust and about her difficulty with nienlal health, previous,, openness_ Trainee A frequently seeks the Wellbeing Co- instances of self-harm and suicidal thoughts. OrdinaloT oikl for advice and help when she is worried or In the months Ihal followed she mel On￿ per,. troubkd by things either al the Hub or in her personal life. Hub day with the Wellbeing Co-ordinator and., Due to the support, she has received her confidence has they discussed strategies lo manage her,, grown resulting in.. anxiety. The Wellbeing Co-ordinator contacled; her previous setting {Kingslon Maurward.. College) and spoke with her mother lo better.. understand how best she should be supported. The Wellbeing Co-ordinator also introduced.. Trainee A lo like-minded trainee5 to encourage buddy system. These all worked well and Trainee A's confidence grew. Moving into supported living. Joining another day service as well as the Hub. Taking part in work experience al the Hub which led lo her applying for and being offered a part-lime barista job. Support and guidance whilst coming off her anti- depressants The meetings belween the Wellbeing Co-ordinalor and Trainee A continue lo this day and support continues around topics such as famili81 friction, job applications and relationships. In the last tsvelve months we have continued to improve our reLqtionships with Social serVi￿S. special educational needs schools. cOl￿e$, the NHS. etc. We a150 have much better Iwo-way communication with parents and carers. We have become so much more than just a day-service provider increased support for the trainees. families. Our reputation for providing varied and excellent sessions for our trainees continues to grow. We slfive to provide sessi￿lS that will stretch Irmliv￿UaIs, in a safe environmenl, lo reach their full polenlk71 and lo become as independent as possible. We have given greater emphasis in 2023 on sports and activities for our trainees. Trainees said they wanted a football team. and we established The Hub Al Stars. an inclusive team that joined the Somerset Football ASsctial￿n Oisability Counts League. Page 5 The Hub-yeovil Community Support Charity Trustee Directors, Report For the Year Ended 31 De￿rnber 2023 ' Jirfyij.: Our communty café and scrapstore frx)ffall and salos have continued to increase s￿jnthCanI1y in 2023. In 2022 the income from the café and scrapslore was £78.149 but thbs has risen lo £123,710 in 2023 {1581k> l. The café and scrapstore have become valued in the local ccffnmunty with lols of regular customers and groups. Our staffing numbers have increased from an average monthly head count of 18 in 2022 to 22 in 2023. The most pleasing element of our recruitment in 2023 is that have appointed two of our trainees to work part- time in the café kitchen and we are looking to increase the number of paid trainees in 2024. In March 2023 Steve Kibby who sharèd the CEO role resigned and now Ken Comber is the sole CEO124 hours per weekl. We now h2ve an organisalional structure that is deliberately light on management roles and a very high proportion of staff working diredly wth our trainees. As stated in the 2022 Trustees report (Mjr finanaal bustness mod81 introJuced in 2021 is financially viable and sustainable. Trainee income plus income form the café and Scrapst￿e is sufficient lo cover our nomal operating costs, etc. This means we are no IC￿ger as relh?nt on donations and grants to fund our co 8Ctivities and where opportunities for additional funding exist or donations a￿ received, we are using these to increase our impact and expand our wogramme. Page 6 The Hu￿ye0vil Community Support Charty Trustee Directors. Report For the Year Ended 31 December 2023 We continue to wovide challenging. fun. exating and varied sessions lo our trainees lo help them become mor8 independent, gain confidence. leam new skills. improve their social engagement and re￿ their full potential. This may result in trainees moving on from Ihe Hub, including into empbymenl. Fundraising disclosures The Charity did nol have any fundraising events in 2023. Use ol volunteers The Charity has a small number of dedKaled and much Va￿ed volunteers. The volunteers support the running of the scrapstore and (Ygani5ing events. Page 7 The Hub-yeovil Community Support Charity Tnjstee Directors, Report For the Year Ended 31 December 2023 Achievements and perfonnance Key financial perfomance indicators Trainee numbers and trainee days are measured and compared monthly. As previously staled, demand continues to grow for our seThices. In 2023 we increased from 66 trainees lo 72 Irainees19.10A} attending and demand has continued to grow into 2024. More significant is Ihal the number of Irainees days per week has also increased from 156 10 170 (9.0% inuease) wlh the knctk-on effect of increased income A detailed monthly Profit & Loss account is wepared wrlh commentary on activities and this is sent lo the Trustees. Al the same lime the Trustees re￿1ve projections of future months. cash flow and actual PerfoMan￿ v projections. Cashfiow is monitored on a weekly basis. Key non-financial performance indicators Trainees are set goals and their perfom7ance against goals measured. Those working in the cafe get the opportunity to attain bronze. ￿1Ver and gold certrficales re catering and foc￿ hygiene and barista training. We also have cl￿prehenSive records in place relating lo all trainees including All About Me Fomis, Support Plans, IncKlent and Behaviour Reports. Incident and Behaviour Reports are reviewed monthly. Plans for the future Over the nexi 3 years we will continue to do More to supp(xl Ihe wellbeiro. independent living and employmenl opportunities of people with leaming disabilities and aulism in Somerset and Dorset. Our ambition is still to have a second faulty dedicated to independent living skills. Whilst seeking fijnding we will continue lo develop our wogramme to enhan￿ indyndent living skills at the Hub. We ae very keen to support trainees and their families with the Iransition into irKlependent living, wh￿h often can be a difficult lime for all involved. The additional facility is becomiry more as we get closer lo the caparty of our premises and demand for our services is not diminishing. OUT goal is to be aiAe lo provide comprehensive support to trainees and emptoyers to create opportunities that work for people with autism and leaming disabilities and we wll seek lo create the inccThe to establish new programmes around employment. This will indude increasing paNJ V￿rk opportunities for Irain985 at the Hub. In addition. w8 will pilot new ways of delivering work skills for trainees, for example, developing programmes using and expanding our digital facilities. We wll also join the National Autistic Employment Network that is being launched in 2024. This wll give us the opportunity to consult wth our peers and learn from those organisations who have been successful in establishing employment opportunit￿. Another goal will be to continue to expand our SUPF(¥i for parentslcarers. to help them understand and access the serwces they need and build long lasting trusting relationships. This will include helping parentslcarers improve their own resilience and providing advi￿ on funding. benefits and getting 1..1 support where needed. We want to supwl our trainees. families, not just the trainees. due lo the ever reducing support available in the Communty. We will be exploring training workshops and potentially setting up peer support groups. Page 8 The Hub-yoovll Community Support Charity Trustee Directors. Report For the Year Ended 31 December 2023 We will woik together with other organisations that work viith adults wilh leaming disabilities from across our area. We have recently Joined a ne￿ established fcvum fly kKal day service provNJws. We will seek to fund a communities and partnerships ro￿ in the organisatM)n lo ratse MO￿ money, increase grant funding. achieve greater engagement with l¢xal businesses and organisatM)ns and host more events al the Hub to drive local engagement 2nd retail revenue. We will expand our partnerships with other organisations in our area so we can play a holistic role in the wellbeing of our trainees. We want to build on existing relationships create new ones. This will indude building deeper ￿latIOnShipS with corporate partners. Leonafdo UK and Yeovil Town F¢J)tball Club are examples of organisations who are very keen to build on our respeclive partnerships and do even more going forward. We will conlinue lo lobby and thampion the issues of adutts with leaming disabilrties and autism. We wim strive. alongside parents. to ensure thal they get the support they require with particular emphasis on working with NHS leaming disabilikn.es and aulism speaalists. We will raise the issues of mental health support al appropriate forums as this is an area that is often underserved. The Hub has train88s who are bi- polar, have border-line personality disorder. schvzophrenia. setf4wrm. anxiety, etc bul their mental health often seems lo be disregarded by the authffities. Financial review During the year ended 31 December 2023, the Charity had total inwme of £696,936 (2022.. £538.274) and total expendilvre of £633.571 {2022.' £583,775). The income and expenditure (including transfers) relating lo restricted funds was £37.551 12022: £43.900) and £40.747 {2022'. £21.206). The Charity was in receipt of Government grant incom8 in relation lo Coronavirus of £0 {2023: £3.900). Totsl funds at 31 December 2023 were £133,941 (2022: £70,661). This is split belween unrestricted £129,317 and restricted £4.$39. Total free reserves as at 31 December 2023 were surplus of £56.075 (2022.. deficit of £23.9231. Page 9 The Hub-yeovil Community Support Charfty Trustee Directors. Report For the Year Ended 31 December 2023 Policy on reserves This policy exists lo describe The Hub's approach to managing its cash reserves. Our prlnciples • We need reserves so that rf we're not hitting r)UT financial tsrgets. we have enoljgh lime lo make and implement a corrective ￿an thal's not under undue financial pressure. we believe this should be based around a 6-monlh timeframe. It's very unlikely that due lo our commercial m(xlel that all revenue woukl drop dramaticalty month lo month and for that reason we do not believe that our reserves Fdicy needs to woth on the basis of 3 or 6 months full costs - instead working lo a modelled 6-month worst case income scenario. We will review the reserve amount at least annualty or at any time there's a svJnificant change in the business. Our scale and operats'ng cost$ al any given time wll affect the appropriate level of reserves we should have. Ourapproach When deciding our level of reseprfes. we've used model based on the analysis below.. December is typically the worst month for financial perf￿. We've used historic data to estimate likely worsl-case losses in thi8 month. Where nO￿D￿mber loss making months have occurred the recent worst case is an £8k k￿S we feel this is representative of a likely worse case for all months except Decernber. If we were lo have 5 loss making months in the run up to a Ioss-making t)ecember this 6 month period would see a k)ss of £55k. We consider this exlremefy unlikely. The Hub is on a fimer financial footing but remains vulnerable lo short tem ups and downs in our revenue. We belteve setting the reserve level above the wor5t-case m(thl is prudent at this time. For our 23124 finanoal year the reserve amount sPM)uld be £75,000 Principal funding sources The pnncipal funding sources the Charity are currently by way of skills devdopment training paid via direct payments. commissioned Servi￿ by the LorAI Authority or sew-funders. This is supplemented by income from the Hub's café and ￿rapst￿e. In addition, the Charity receives funding via grants and donations. Major risks and managèment of those risks The Charity's main source of income is fees from trainees. The Local Authorities set up a daily rate for day services and this amount is charged lo the indiwdual dependent upon fK)w many days they attend the Hub each month. If the Local Authorrty reduces the daily rale day services or Changes it policylrnethodology. this is a risk to the Charity. It is, however. pleasing io note that in April 2024 S(Mnerset Counal increased the day rate by 3.2%. To mitigate this risk Ihe Charty wants to become less reliant on Local Authoiity income aThY plans to continue lo in¢rease other sources of income such as grant funding and cafe and s(xapstore income. Page 10 The Hub-yeovil Community Support Charity Trustee Directors, Report For the Year Ended 31 December 2023 Reputational risk The Charity works wth vulnerable adults wth leaming disabilities and autism. 11 essential that the Charity provides professional SerV￿e5 in a safe and secure environmenl. The Charity has comwehensive safeguarding. vthis1￿blo￿.ng and other policies in ￿8¢e aTrJ staff are appropriately vetted and trained. Govemment Policy The Government could change their poliC￿S in how they see Ser¥￿eS for vulnerable adults delivered. The Charity keeps up lo dale with any Government pre55 releases. charoes in legislation and maintains effective relationshry)s with key stakeholders. Page11 The Hub-yeovil Communty Support Charity Trustee Directors. Report For th8 Year Ended 31 December 2023 Financial instruments Objectives and policies The Charity's aciivities expose il to a number of financial risks induding credit risk. cash flow risk and liquidity risk. Cash flow risk The Charity's activities expose it primariky to the financFal rtsks of changes in interest rates. The Charity does nol currently hold any interest-bearing assets or liabilitses. Cash flow is monitored on a daily basis. Credit risk The Charity's principal finanoyal assets are bank balances and cash. trade and other receivables. The Charity's (xedrt risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtlul receIva￿es. An albwance for impairment is made ￿ere there is an identified loss event whith, based on preV￿￿S experienc8, is evidence of a reduction in the recoverabilily of the cash flows. The credit risk on liquid funds is limited because the c(wnterparties are banks with high credit-ralings assi9ned by inlernalional credil-rabng agencies. The Charity has no signrficanl concentralmjn of Ixedii risk. with exFQSure spre￿1 over a large number of counterparties and customers. Liquidlty risk The Charity's liquidty risk is attributable to tvs level of and credrt lines available. Statement of Trustees Responsbllliles The twstees (who are also the directors of The Hub-yeovil Community Support Charity for the purposes of company law) are responsible for preparing the trustees. report and the financial statements in accordance with the United Kingdom Accounbng Standards {United KIngd￿n Generally Accepted Accounting Practice) and applicable law and Tegulations. Company law requires the trustees to prepare financial ststements for each financial year. Under company law the trustees must not approve the financ￿1 ststements un￿sS they are satisfied Ihat they give a true and fair view of the slate of affairs of the tharilable company and of ils incoming resources and application of resources. including its In￿Me and expenditure, for that period. In preparing these f￿anCIal statements, the trustees are required to.. Page 12 **The Hub-Yeovil Community Support Charity** Trustee Directors' Report For the Year Ended 31 December 2023 - select suitable accounting policies and apply them consistently. - observe the methods and principles in the Charities SORP. - make judgements and estimates that are reasonable and prudent. - state whether applicable UK Accounting Standards have been followed, subject to any material departure disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on 25.09.2026 and signed on its behalf by: Page 13 **The Hub-Yeovil Community Support Charity** Independent Examiners' Report to the Members and Trustees For the Year Ended 31 December 2023 ## **Independent examiners report to the Trustees of The Hub-Yeovil Community Support Charity** I report to the charity trustees on my examination of the accounts of The Hub-Yeovil Community Support Charity ("the Company") for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the Company'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 the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not comply with these records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a "true and fair view" which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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 accounts to be reached . ## **Michelle Ferris FCA DChA** Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset **TA12PX** ## Dat e: 26.09.2024 Page 14 The Hub-yeovil Community Support Charity Statement of Financial Activities (Including an Income and Expenditure account) For the Year Ended 31 December 2023 Unre•- trict•d Unres- Res- tricted tricted 2022 Tolal trlct•d 2023 Totsl Income and endowm•nts from: Donali¢)ns and kgaci8S Charilable activit Other trading ￿￿"¥i11e& Interest 18,516 3 517.053 4 123.710 106 37.551 56.067 517.053 123.710 106 8.178 408,021 78.149 26 52,078 408.021 78,149 26 Totsl 659.385 37,551 696,936 4Y.374 43,900 538,274 Expendlture on: Raising fuTrJs Charrtable activtties 51.785 6 541,039 51.785 581,786 38,052 524,517 2,499 18.707 40,551 543,224 40,747 Total exp•nditure 591824 40,74T 633,571 562,569 21,206 583,775 Olher gaYtslllosses) (85 (85) Net In¢om•llexpendlturn) 66,476 (3.196} 63,280 168.1951 22,694 145.5011 Transfets bd*Een funds 17 {41) 41 15.iJJ) (l5.C￿) Not movomont In funds 66.350 13.155) 63.280 153.1951 (45,501) R¢conclllatlon of furn1• Total funds brought forward 62.967 7,694 70,661 116,162 116,162 Totsl funds urried forwwd 129,317 4.539 133,941 62,967 70.661 The Tesults for the year derive from continu1￿ ￿tsY11￿ aThJ there are rn gains or losses other than tfv)s8 shown above. The statement of financial activities incorprKales th8 incorne armj expenditure account. Page 15 The Hub-yeovil Communlty Support Charlty- Company R•gl•trntion Ilumb•r. 07358159 Balance Sheet As at 31 DeYeovil Community Support Charty LS a company limited by guarantee incorporated in the United Kingdom under the CoMpan￿S Act. The maximum liability of each membe¥ is limited lo £10. The addre55 of the registered Offi￿ is given on page 2. Th& nature of the charity's operalions and its prinupal activities are sel cmjt in the Trustees report on pages 3-13. The financial statements have been wepared in £ sterling on the historical cost basis and in accordance with accounting and reporting by Charili&s: Statement of ReC(￿mended Practice applicable lo charities preparing their accounts in aC￿rdance with the Financhgl Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019}- (Charities SORP IFRS 10211 and the CoMpan￿S Act 2(￿. The chgrily meets the definrtion of a public benefit entity under FRS 102. Ass8ts and liabilities are initially recogni$ed at historical cost or transaclM)n value unless otherwtse staled in the Televant accounting policy. Going concem The trustees assess whether the use of going concem is appropnate i.e. whether there are any material uncertainties related to events or conditions that may cast signrfKanl doubt on the ability of the company lo continue as 2 going concern. The trustees make this assessment in respect of a period of at least on8 year from the date of authorisats'on for issue of the financial slalements and have concluded that the charrty has adequate resources to continue in operational existence for the foreseeable future and Ihere are no material uncertainties about the charity's ability lo continue 2$ a going con￿rn. thus they continue to adopt the going ¢oncem basis of accounting in preparing the financial slalemenls. Income All income is induded in the Ststement of FinancÈal Activities vthen the charity is entit￿d lo the income and the amount can be quantified wth rea￿nable accuracy. The folk)wing specific policies are applied to particular categories of income. The valuation of donated sorvices is not quantified within the Slalement of Financial Ath"vrt￿. Donation income is ￿ceiVed by way of general grants. donations and g-rfts and is included in full in the Statement of Financial Activities when receNable. Income trom gift aid is included in the Statement of Financial Activities at the same lime as the donatK)n to which they relate. Income from grants. relating to specifically the prowsion of goods ￿ seThices as part of charitable activities or services to dienls are induded in full in the Statement of Financial Activities when re￿1vable and in the period in whicj) they relate to. Grants are deferred when the monies have be8n received in advance of the period in which they relate lo. Income from charitable actNities is recognised wthen dwrity is entitled lo the income. Other trading activities income includes income relatiThJ lo café and scrap sales and is included in the Statemenl of Financial Activities at point of sale. Inveslmenl income is induded ￿en receivable. Page 19 Thè Hub-yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2023 Govemment grants Government grants are accounted for when Un(ffidlt￿na1ty due and reasonable 8ssurance can be gained that it will be received. Where furKls are received in advan￿. for a specified period. these funds are deferred and recognised in the peric*J to whi(* they relate. Where funds have not been received in a specified period. these funds will be accnjed in deblors and recognised in the period to which they relate. Not all grants received have conditions and perfomiance indicators attached. where this is the case. the income is induded within donations. perf￿rnance related grants are included within Charitable Activities income. 1.5 Expenditure Expenditure is recryJnised on an a¢¢ruals basis as a liabilty is incurred. All expenditure is gross of VAT which rAnnol be recoverwj and is reported as part of the expenditure to which it relate5. Raising lunds expenditure comprises of costs inojrred by the charity in rdation to the running of the (afé and scrapsl(Ke. Charitable expenditure eomprises those costs incurred by Ihe chanty in the delivery of ils activities and services for its benefiryaries. It indudes both costs that can be alh)cated direclly to such activities and those costs of an indirecl nature necessary to support them. Govemance costs include the costs attributable to the charity'5 compliance wilh constilulional and stalulory requirements, including audit, strategic management and trustees'5 meetings and reimbursed expenses. Fixed assots Depreciation is cal¢ulated to write off the cost of fixed assets over their estimated useful lives at the followng rate'.- Leasehold improvements- depreciated over the lrfe of the lease Furniture and equipment- 25% per annum slraight line basis mot￿ vehides- 25% reducing balance Fixed assets are valued at COSt less depreciation. No assets are capilalised under £50. Fixed assets are reviewed annually for impairment. Sto¢ks Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is detemined using the first-in, firSt￿Ut IFIFOI. Debtors Accrued income comprises amounts due from funders and is recognised when the charity is entiued to the granL receipl is probable and the amount can be measured reliably. Prepaymen15 are valued al the amount prepaid. Cash at bank and In hand Cash at bank and in har)d comprise cash on hand and call deposits, and olhef short4enn highly liquid investments that are readily convertible to a amount of cash and are subJ"e¢t to an insignificant risk of change in value. Page 20 The Hub-yeovil Comrnunity Support Charlty Notes to the Financial Stalements For the Year Ended 31 December 2023 1.10 Credltors C￿dItorS and provisions are recognised where Il* tharity has a present obligab'on resulting from a past event that will probably result in the transfer of funds lo a third paty and the amount due lo settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount. 1.11 Taxation The company is a registered charity and is therefore not liable to ccffporation tsx to the exlent that Fncome and gains are applied lo the charitable objectives of the charity. 1.12 Pension contrfbulions The chafily operates a defined contribution p8nsKJn scheme. The scheme and its assets are held by independent managers. Contributions are recognised in the Statement of Financial Activities in the period in which they become payabte in acc(Kdance with the rule5 of the scheme. 1.13 Fund accounllng General funds are unrestricted funds receivable or generated for thg objecls of the Bureau without lurther specified wrp)se and are available as general funds. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted funds are to be used for speafic purwses as laid down by the donor. Expenditure vthich meets this C¥[ter￿)n is charged to the fund. logelher wilh a fair allocation of management and support 1.14 Operating leases Leases in which substantially all the rtsks and rewards of ownership a￿ ￿taIned by the lessor are classified as operating leases. Rentals payable under r)perating leases are charged to the Statemenl of Financial Actiwties as incurred over the tem) of ihe lease. The charity has an operating lease for the premises in Ythich they operate. as well as photocopier and telephMe Igases. The title of the leased premises and equipment remains wrth the lessor. 1.15 VAT The Charity is nol VAT registered and therefore al costs are inclusive of VAT. 1.16 Financlal instruments The charity only hdds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their rneasur￿nts ￿e as follows.. Financial assets - trade and other debtors are basic financial instruments and are debt instnjments measured al amortised cost. Prepayinents are nol financial instruments. Cash at bank- is dassrfied as a basic financial instrument and ts measured at face value. Financial liabilities - trade creditors. accruals and other creditors are financial inslrumenls, and are measured at amortised cost. Taxatson and social seojrity are not included in the financial instruments disclosure definition. Deferred income is not deemed lo be a financial liability. as the cash settlement has already taken place and there is an obl*Jation io deliver services rather than cash or another financial instrumenL Pagg 21 The Hub-yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 De￿rnber 2023 Donations and legaclos Unre$- Res- Cted tricted 2023 Total Unres- trl¢tod Res- lricted 2022 Total Donations and gifts Grant income 13.516 14.516 41.551 7,178 7,178 41,000 36.551 40.000 Exceptional 90￿MMent fundlNJ Other Covid grants. 3,900 3,900 To 18,516 37,551 56,067 8.178 43,900 52.078 The charity has been e￿gible lo claim addilional funding in year from govemment support schemes in response to the coronavinjs oulbreak. The furmling receNed is shown above under "exceptional government funding.. ' denotes amounts received from govemm8nt grants Incomlng from charltable actlvities Unres- tricted ￿¢tsd 2023 Total Unre$. tricted Res. tricted 2022 Total Trainee fvnding Rental inccKne 516,453 516.453 408,021 408,021 Total 517,053 517,053 408.021 408.021 Page 22 The Hub-yeovil Community Support Charity Notes to the Financial Statements For Ihe Year Ended 31 December 2023 Inctyne from other Iradlng activibos Unres- tricted 2023 Total Unres- trlcted 2022 Total trlcted trS¢t¢d Café and scrap sales 123.710 123.710 78,149 78.149 Total 123.710 123,710 78,149 78.149 Expenditure on raising funds Unre tricted 2023 Total Unres- lricted 2022 Total trlcted tricted Café aThJ shop costs 51.785 51.785 38,052 2.499 40,551 Totsl 51.785 51.785 38.052 2,499 40.551 Page 23 The Hub-yeovll Community Support Charlty Notes to the Financial Statements For the Year Ended 31 December 2023 Ex￿ndi￿re on charhable activities Note Unres- tricted trf¢ted 2023 Tolal Unrn$- 2022 Tolal trl¢ted Staff costs Rent and rates Heal and light Repairs and maintenan Insurance cosls Motor expenses Postage and statKJnery Other charitable expenditure Sundry expenses Depre(iats'o Bank charges Legal & professional fees Accountancy fees Gov8mance costs 384,478 48,109 23,433 13,349 5.786 2.628 3.228 33.050 417.528 48.109 23.433 16.504 5.786 2.628 3,228 385,880 48,980 10,505 12,980 5,392 2.792 3.883 10.112 395,992 48.980 10.505 16,273 5.392 2.792 3,883 3.155 3,293 28.030 6.231 15.324 367 2.711 6.118 1.247 4.542 32,572 6,231 15.324 367 2.711 6.118 1,247 19.361 2,447 3.SYIO 23,261 2,447 22.506 275 6.718 3.000 1,200 275 5.316 1.402 1.2Crf) Totsl 541.039 40.747 581,786 524.517 18.707 543,224 Analys1$ of governance costs Governance costs Unres- Res- tricted trlctsd 2023 Total Unres- trlctèd Res. trl¢ted 2022 Total Independent Examination fèes 1.247 1,247 1.2CMJ 1,21J) 1,247 1,247 1.21x1 1,200 Page 24 The Hub-yeovil Community Support Chaiity Notes to the Financial Statements For the Year Ended 31 December 2023 8 Nel Incomingloulgolng rosour¢ Nel incominglloutgoingl reswrces f￿ the year indude: 2023 2022 Operating leases- plant and mathinery Operating leases- other assets Depreciab'on of fixed assets Independent examination fees- current examiner Other accountancy Serv￿eS- current examiner 1.152 48.Cl)O 15,324 1,247 6,118 1,152 48,C(iO 22,506 1,200 3,C￿0 9 Trustees romuneration and expenses No tmstees, nor any persons connected wth them, have received any remuneration from the charity during the year {2022.' none). No Irustees have received any reThbursed expenses from the charity during the year12022: none). No Irustee received payment for professional or other services supplied lo the charity12022: £nil). Page 25 The Hub-yeovil Community Support Chaiity Notes to the Financial Statements For the Year Ended 31 December 2023 10 Staff costs Number of employees The average monthly head count was 22 slaff12022: 18 slaffj. Employrnent cosls The aggre9ale payroll costs were as follows: 2023 2022 Wages and salaries Social security costs Pensti)n costs 380,281 29.484 7.763 362,818 25,906 7.268 417.528 395.992 The key management personnel of the charity comprise the chief executrve officers, one of whom resigned in March 2023 and the operations manager Iwtth effed from 1 January 20231. The total employee benefits (includes gTQSS pay. employer pension and employer national insurance) of the key management perS(￿ne1 were £85.607 (2022.. £50.0461. There were no individuals who received ￿Muneration of £60.000 or more in either year. Pgnsion costs The company operates a defined contribution pension scherne. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £7.763 12022.. £7,268). There were no contributions payable to the scheme at the of the year (2022.. £nill. Page 26 The Hub-yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2023 11 Tanglble flxed assets Property Fumlture & IMpr0￿ments Equipment Motor Vehicles Total Cost Al l January 2023 Additions Disposals 103.140 70.359 21.490 194.989 1.846 12.0371 (2.0371 Al 31 December 2023 103.140 70.168 21.4 194.798 DoprKlatlon Al 1 January 2023 Charge for the year Eliminated on (lisposal 39,113 9.905 60.611 3.546 11.9521 8,375 1.873 108,099 15,324 {1,9521 At 31 December 2023 49.018 62.205 10.248 121,471 Net book value At 310ecember 2023 54,122 7.963 11,242 73.327 At 31 December 2022 64.027 9.748 13.115 86.890 12 Stock 2023 2022 Slocks 1.0(Xi 1.000 13 Debtors 2023 2022 Trade debtors 2.775 8.014 Page 27 The Hu￿Ye0vil Community Support Charlty Notes to the Financial Statements For the Year Ended 31 December 2023 14 Cash and Gash equlvalencles 2023 2022 Cash in hand Cash at bank 100 T7.350 100 2,806 77.450 2,906 15 Credltors: amounts falllng due within one year 2023 2022 Trade creditors Other creditors Loan Accnjals 13,714 8.956 42 15,000 4.151 6.897 20,611 28.149 Thg loan was repaid in equal iristalments from January 2023 and ended 31 December 2023. The loan was interest free and unsecured. 16 Obligations under l•as¢s and hlre purchases ¢ontracts The total value of fulure minium lease payments was as follryws: 2023 2022 Land and Buildlngs Within one year In ￿ lo five years In over five years 48,000 192,000 528,000 48.000 192.000 576.000 768.0(K) 816,000 Page 28 The Hub-yeovil Comrnunlty Support Charity Notes to the Financial Statements For the Year Ended 31 December 2023 17 Funds Opening Balance 01.01.23 Closlng Balanco 31.12.23 Income Ex￿ndItUre Tran$f•rs Uniestrlcted funds General Unrestricted 62.967 659.385 (s92.9￿) {41} 129.402 Total Unrestrlded funds 62.967 659.385 {592,9091 1411 129.402 Restricted funds The National Lottgry Community Fund - RC South W8St Reg#Jn SCr￿X Grant SASP Tesco Founders for Good 33.050 133,0501 3,146 3.146 3,501 1.1YJO (3,5391 (1.0031 (3,1551 38 1.393 Total Rostrlcted funds 37.551 140,74n 41 4,539 Total funds 70,661 696,936 1633.656) 133.941 Page 29 The Hub-yeovll Community Support Charity Notes to the Financial Slalements For the Year Ended 31 December 2023 17 Funds {eontinuedl- prlor year Opening Balance 01.0122 Closing Balance 31.1122 In¢(￿e Expendlture Transfers Unrestrlcted funds General Unrestricted 116.162 494.374 1562,569) 15,000 62,967 Total Uniestricted funds 116.162 494,374 1562,569) 15,000 62.967 Rostri¢t•d lunds Somersel Community Foundation Screwfix Grant Somersel County Council - cO￿d Relief 15.0￿) {15.￿0) {1.8S4) 3,146 {1.g)O) Dofset County Council- Infection Contr Clolhwofks Foundation Founders for Good {2.0001 15.0(Kl (15,OC(Il 1452) 4,548 Total Restrlcted funds 43,900 (21,206) (15,0001 7,694 Total funds 116.162 538,274 1583.775) 70,661 Tho $￿cIfiC purposes for Twhich malerfal funds are lo ￿ applied are as follows: The unreslricted fijnds are available lo b8 used al the trustees discretK)n to fvrther the objects of the charity. The Somerset County Cwncil (Covid reliefj and the Dorset County Council {InfectK)n ¢onlroll was used towards additional cleaning costs and PPE assock3ted with the coronavirus pandemic. The Somerset Community Foundation grant was awarded for the CEO atteThJing and passing Somersel Social Entrepreneurs Accelerator Programme and was unrestricted funds which were spgnt on salaries and marketing oflhe Hub. Page 30 The Hub-yeovil Community Support Charity Notes to the Financial Statements For the Year Ended 31 December 2023 The Screwfix (20221 grant was awarded as a contribution towards inslalh'ng a changing room f8ciIty al the Hub. This has not gone ahead due lo escalation in costs. The Clolhworkers Foundation pyovided an eight- seater vehide lo transwrt the Hub's trainees to external aclivi118s and events. The Founders for Good grant fijnded the installation of a digital suite for our trainees vAlhiTr the Hub's premises. The National Lottery Communty FuTrJ grant was awarded to fund The Hub Approach projecl and has been used lo pay for a new employee. The SASP grant was awarded lo purchase equipment f(Y delivering activthes in a small space. The Tesco grant was awarded to purchase IT equipment. Funds have been tranSfer￿d in act(Kdance *ith the SORP followings acquisition of capital items. 18 Analysls of net assets l)etwoen funds UnTrs- Res• lricted trl¢led 2023 Total Unres. lrfded Ros- tricted 2022 Totsl Tangible assets Current assets 73,327 76.686 73,327 81.225 86.890 4.226 86.890 11,920 4.539 7,694 150,013 {20.6111 4.539 154.552 91.116 {20.611) (28,1491 7,694 98.810 {28.1491 Creditors due within one year 129.402 4.539 133.941 62,967 7.694 70,661 19 Related party tran8a¢tions During the year the ¢harily had transaclions with related parhes {2022.' one tnjslee donated £5,IKJOI. Page 31