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2022-03-31-accounts

INSPIRE SOUTH TYNESIDE

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Charity Number: 1167813

DEBÉRE LIMITED

Chartered Accountants Swallow House Parsons Road Washington Tyne and Wear NE37 1EZ

INSPIRE SOUTH TYNESIDE

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

CONTENTS PAGES
Officers and professional advisers 1
Trustees’ annual report 2 to 8
Independent Examiners Report 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 – 25

INSPIRE SOUTH TYNESIDE

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS

YEAR ENDED 31 MARCH 2022

Reference and Administrative Information

Trustees

Board of Inspire South Tyneside from April 2021: Rebecca Maw (Chair) Ian Dougall (Vice Chair) Susan Gill (Treasurer)

Stella Mathewson – resigned 16 November 2021; replace by Jenna Ingoe on 7 September 2021 Mission to Seafarers

Bill Scott MHM

Tina Roche

Registered Office

John Hunt House 27 Beach Road South Shields Tyne and Wear NE33 2QA

Key Management Personnel Independent Examiner

Debbie Carr (Business Manager)

Debére Limited Chartered Accountants Swallow House Parsons Road Washington Tyne & Wear NE37 1EZ

Bankers

Barclays Bank plc 49-51 Northumberland Street Newcastle upon Tyne Tyne & Wear NE1 7AF

Solicitors

PGS Law Coronation Chambers 10 Coronation Street South Shields Tyne and Wear NE33 1AZ

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES

YEAR ENDED 31 MARCH 2022

The trustees, who are the directors of the organisation for the purpose of Company Law, present their annual Trustees’ report together with the charity’s financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019)”.

Introduction

The following information about the financial period 2021/22 is presented in the format required by the Charity Commission.

Inspire South Tyneside’s vision

We will support the development of a strong, vibrant, and thriving sector and community in South Tyneside. Through our support, we aim to make South Tyneside a better place for all.

Inspire South Tyneside’s purpose is to provide a range of information, advice, training and support for local voluntary organisations and community groups.

Structure, Governance and Management

Constitution

The charity is an infrastructure organisation, which is a public benefit entity established to promote charitable purposes for the benefit of the community in the Local Government District of South Tyneside and surrounding area and in particular:

Governing document

The charity is governed by its constitution established in January 2016, amended on 26 April 2017, and adopted in April 2019.

Method of appointment or election of the trustees

The method of appointment and election of the trustees is fully detailed in the Inspire South Tyneside’s Constitution.

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 MARCH 2022

Policies adopted for the induction and training of trustees

Training and induction are available for all new trustees. During the induction process, they are informed as to their duties and responsibilities. Any request from a trustee for training is considered by the Board of Inspire South Tyneside.

Organisational structure and decision making

The members of the Board of Inspire South Tyneside are the trustees of the charity and have overall responsibility as employers of the staff, ensuring financial stability, health and safety, organisational policy and strategic direction.

Key personnel

Operational responsibility for the management of the organisation is delegated to the Business Manager. The staffing structure consists of:

Pay policy for staff

The Board of Inspire South Tyneside are responsible for setting remuneration for the organisation’s staff. The organisation has introduced a robust annual appraisal process that monitors past performance and sets the forthcoming year’s key performance indicators that will run in line with the local authority’s service level agreement and contribute to the business plan.

Objectives and activities/ Policies and Objectives

The primary objective of the new charity is to provide a range of information, advice, training and support for local voluntary organisations and community groups.

During 2021/22 the charity continued to implement its new strategy under the following four key areas:

What is Inspire South Tyneside

An infrastructure organisation that supports, facilitates, gives guidance, and represents the Voluntary and Community Sector in South Tyneside.

On 1 April 2019 the staff and capital assets were transferred from IST to Inspire South Tyneside, a Charitable Incorporated Organisation. IST has been formally wound up.

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 MARCH 2022

Our vision for South Tyneside

Our vision for Inspire is to offer support, advice, acting as a strategic reference point for the sector and the borough, as well as representing the views of the sector at strategic bodies and groups. Inspire South Tyneside will facilitate the development of a vibrant, strong, and sustainable local third sector that will work in collaboration with partners to ensure the best outcomes for residents of the borough.

How we will do this

Our principles and values

We believe that our people are our greatest asset. We will support and encourage them to fulfil their potential and be the best they can be. We acknowledge each other’s skills, abilities, knowledge and experience and celebrate each other’s achievements. We believe that rights are accompanied by responsibilities and everyone is responsible for the consequences of their own actions. We aim to inspire by example. We share best practice and learn from each other. We conduct ourselves with honesty and integrity and maintain the highest professional standards in our dealings with others.

We have set our strategic and operational direction in line with our values and principles. We will:

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 MARCH 2022

Activities for Achieving objectives

To achieve the above objectives, the charity uses the following areas of work to support the above:

Volunteers

The charity places great value on the contribution that volunteers make to the organisation. Our local community volunteers are a valued support mechanism that enhance the running of the charity. The charity supports the development of volunteer skills. This year we have had to change our way of working due to covid. As a result, we closed our building, and moved to virtual meetings. The volunteer roles have been on hold. In the future we will bring back three to the office to support the reception office, admin and volunteer centre, and meetings.

Over the course of the year, we benefited from the valuable contribution of two regular volunteers providing up to 5 hours per month. This was a reduction on previous levels due to ongoing changes in working practice relating to the pandemic

The charity will continue to provide the following:

Organisation strategic report

We will continue to support the development of a strong, vibrant, and thriving voluntary sector and the community in South Tyneside. Through our support, we aim to make South Tyneside a better place.

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 MARCH 2022

Organisation strategic report continued

Our Strategic priorities are as follows:

We will maximise the ability of IST to share information and to communicate with our users, via:

Achievements and performance of Grant Support

Each funder has set targets for the service they fund, and these are specified in the contract or Service Level Agreement. Monitoring is carried out and the trustees receive regular reports on how each service is performing against the KPI’s or Service Specifications.

Review of Activities

All activities undertaken during the year are in line with the organisation’s charitable objects and are detailed more fully in the main body of the Annual Report.

Inspire South Tyneside has continued to fulfil its core services of advice, information and support in a variety of ways.

Going concern

The trustees of Inspire South Tyneside continue to work with local partners and main stakeholders to maintain the organisations development.

The organisations financial principles and strategies have enabled it to become more resilient, as well as reestablishing its cash reserves.

Financial Review

The Principal funding source for the year was as follows:

Funding received from South Tyneside Council allowed Inspire South Tyneside to provide advice, information and practical assistance to the voluntary and community groups, and a Volunteer Centre service in South Tyneside.

Grants awarded in 2021/22

Winter resilience fund of £3,796 awarded to large and small charities across South Tyneside supporting mental and physical health and wellbeing.

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 MARCH 2022

Financial Review continued

DCMS Community Foundation grant of £5,796 to support online workshops for small local charities working through the Covid 19 crisis.

NHS Peer Pals award of £15,000 to deliver two test beds for the concept of Peer Pals (lived experience) focusing on long term conditions. The funding also supports the creation of a Peer Pals Network for South Tyneside ensuring system wide learning of the value of lived experience.

VCSEP grant of £1,500 was provided to support all LIO's engaging in this emerging planning forum.

NHS Cancer Commitments Microgrant funds of £2,500 were awarded to support awareness raising and engagement regarding Cancer.

Inspire South Tyneside recorded a deficit on unrestricted funds for the year of £7,836 (2021: £22,471 surplus) and a surplus on restricted funds of £17,678 (2021: £29,898).

Reserves Policy

At 31 March 2022 Inspire South Tyneside holds unrestricted funds of £110,261 (2021: £118,097) (£15,806 (2021: £16,458) of which are designated funds) and restricted funds of £292,807 (2021: £275,129). The charity has free reserves of £94,455 (2021: £101,639).

Financial risk management objectives and policies

Major risks to which the charity is exposed, as identified by the Board of Inspire South Tyneside, have been reviewed and systems, policies and processes have been established to mitigate or reduce these risks.

Future Plans 2022/2023

We recognise that communities in South Tyneside have faced significant challenges in recent years, including most recently the pandemic and the cost-of-living crisis. The scale of these challenges and the lasting impact of them cannot be underestimated, nor however, should we lose sight of the demonstrable, essential benefit of a shared cross system collaborative approach – when we have a shared focus or goal, we demonstrated we were able to work swiftly to mobilise new initiatives or plans at scale, to work across sector boundaries. Importantly, our experiences in recent years reinforced the shared importance of ‘place’, of the communities that make up our place and the people that shape those communities.

It is also true that these challenges will not recede in the immediate future as we grapple with the impact of a looming recession and dealing with immense pressures on many of our vital public services including health and social care and education.

It is therefore vitally important that as individual organisations and collectively we work to support communities to be a valued partner in shaping our responses to these challenges. We need to ensure that in every decision made across South Tyneside we know our communities were present in that process. We want to move on from consultation and engagement to co-production and community power.

Inspire will focus its efforts to support the VCSE sector across South Tyneside through maximising funding opportunities, encouraging our commissioning partners to recognise the value and impact of trusted local partners, working with statutory colleagues to better understand current investment into the VCSE sector and how we can set a strategy for growth.

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 MARCH 2022

Future Plans 2022/2023 continued

We will have a particular focus on developing a ‘one stop shop’ offer for all VCSE organisations present in the borough – from larger national charities to small neighbourhood groups. This new platform will allow us to identify, collate and share new strands of data and insight into the work and impact of the VCSE sector. It will also provide a new ‘home’ for volunteering meeting our ambitions to build on the volunteering legacy from Covid 19 and to make the volunteering process across South Tyneside enjoyable, smooth and consistent.

Trustees’ responsibilities in relation to the Financial Statements

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are responsible for safeguarding the assets of the charity and, hence, taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent Examiner

A Resolution to appoint Claire Miller at Debére Limited as Independent Examiner for the ensuing year will be proposed at the Annual General Meeting.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the trustees on 31 January 2023 and signed on its behalf by

Rebecca Maw Chair

INSPIRE SOUTH TYNESIDE

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF INSPIRE SOUTH TYNESIDE

YEAR ENDED 31 MARCH 2022

I report on the accounts of the Charitable Incorporated Organisation for the year ended 31 March 2022, which are set out on pages 10 to 25.

Respective Responsibilities of Trustees and Examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (‘the 2011 Act’), and that an independent examiners report is needed.

It is my responsibility to:

Basis of Independent Examiners Report

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent Examiner’s Statement

In connection with my examination, no matter has come to my attention:

have not been met; or

Claire Miller BA (Hons) FCA Independent Examiner

ON BEHALF OF DEBÉRE LIMITED Chartered Accountants

Swallow House Parsons Road Washington Tyne and Wear NE37 1EZ

Date: 31 January 2023

INSPIRE SOUTH TYNESIDE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2022

Note
Unrestricted
Funds
£
Restricted
Funds
£
Income from:
Other trading activities
4
8,832
–
Charitable activities
5
123,744
41,769
Total income
132,576
41,769
Expenditure:
Charitable activities
(140,412)
(24,091)

Total expenditure
6
(140,412)
(24,091)




Net incoming / (outgoing)
resources before transfers
9
(7,836)
17,678
Transfers
Gross transfers between funds
–
–
Net movement in funds
(7,836)
17,678
Total funds brought forward
118,097
275,129
Total funds carried forward
110,261
292,807

 Total
Funds
2022
£
8,832
165,513
174,345

(164,503)
(164,503)

9,842

–
9,842
393,226
403,068
 Total
Funds
2021
£
7,218
206,444
213,662
(161,293)

(161,293)
52,369
–
52,369
340,857
393,226

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

The notes on pages 12 to 25 form part of these financial statements

INSPIRE SOUTH TYNESIDE

Charity Number: 1167813

BALANCE SHEET

31 MARCH 2022

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank
Creditors:amounts falling due within one
year
12
Net current assets
Net assets
Net assets
Funds
Restricted funds
13
Unrestricted funds:
14
Designated funds
General funds
Total charity funds
15		 2022
£
267,364
329,075
596,439
(433,072)
£
239,701
163,367
403,068
292,807
15,806
94,455
403,068
 2021
£
£
245,017
144,856
196,153
341,009
(192,800)
148,209
393,226
275,129
16,458
101,639
393,226

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)).

For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors/trustees responsibilities:

These financial statements were approved by the Board of Trustees on 31 January 2023 and signed on their behalf by:

Rebecca Maw Chair

The notes on pages 12 to 25 form part of these financial statements

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared in accordance with the charity’s governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”. The charity is a Public Benefit Entity as defined by FRS 102.

The address of the charity’s registered office and principal place of business is John Hunt House, 27 Beach Road, South Shields, Tyne and Wear, NE33 2QA.

Inspire South Tyneside meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Fund accounting

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of overheads and support costs.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Income

Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Voluntary income received by way of donations and gifts to the charity is included in full in the Statement of Financial Activities when received. Intangible income is not included unless it represents goods or services which would have otherwise been purchased. Gifts in kind are valued and brought in as income and the appropriate expenditure. There were no gifts in kind in the year ended 31 March 2022.

Investment income

Interest is included when receivable by the charity.

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 ACCOUNTING POLICIES (continued)

Expenditure

All expenditure is accounted for on an accruals basis inclusive of Value Added Tax.

Charitable activities include all costs relating to activities where the primary aim is part of the objects of the charity along with the indirect costs. The indirect costs have been apportioned on a reasonable basis which is consistent with previous years.

Governance costs include salary (approximately 10% of Chief Executive Officer role) cost attributable to the management of the charity’s assets, organisational and administration and compliance with constitutional and statutory requirements. Governance costs also include audit and accountancy fees as well as the Annual General Meeting costs.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities on a straight-line basis over the period of the lease.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash held at bank and cash in hand.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Statement of Financial Position date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

Financial instruments

The charity has elected to apply the provisions of Section 11 “Basis Financial Instruments” of FRS 102, in full to all of its financial instruments. All of the charities financial assets and financial liabilities qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 ACCOUNTING POLICIES (continued)

Pension costs

In 2016 South Tyneside Council for Voluntary Service reviewed the pension options and agreed to continue participating in The Pension Trust Growth Plan Series 4. Following the implementation of the Pensions Act 2011, the scheme has been reclassified to a defined benefit scheme. This is a multiemployer scheme and is a ‘last man standing’ scheme for the purposes of the Pension Protection Fund. Due to the nature of the scheme it is not possible in the normal course of events to identify on a reasonable and consistent basis the share of underlying assets and liabilities belonging to each individual participating employer as a result of contributions being co-mingled for investment purposes, and benefits are paid out of the Plan’s total assets.

The contributions have therefore been charged to the Statement of Financial Activities in accordance with the guidance published by the Pension’s Trust.

Actuarial valuations are carried out on the plan every three years in line with statutory requirements. The purpose of the actuarial valuation is to determine the funding position of the Plan by comparing scheme assets with past service liabilities at the valuation date. Asset values are calculated by reference to market levels. Accrued past service liabilities are valued by discounting expected future benefits payments using a discount rate calculated by reference to the expected future investment returns.

In accordance with the Pension’s Trust guidance, liabilities will only trigger for the charity if one of the following events occurs:

The charity is being proactive in the development of policies and procedures in relation to auto enrolment.

Tangible Fixed Assets and Depreciation

All capital items are capitalised at cost, with a de-minimus limit of £500.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Land & Buildings Building Over 50 years Lift 10% reducing balance No depreciation is charged on freehold land. Computer Equipment 33.3% straight line Office Equipment 15% reducing balance Office Furniture 15% reducing balance

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

1 ACCOUNTING POLICIES (continued)

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense unless these costs are required to be capitalised as an intangible or tangible fixed asset.

Employees are only entitled to carry forward unused holiday entitlement in exceptional circumstances, and only by agreement with management. The cost of any unused entitlement is recognised in the period in which the employee’s services are required.

Critical Accounting Estimates And Areas Of Judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectation of future events that are believed to be reasonable under the circumstances.

The only significant area of judgement is the useful economic lives of fixed assets, details of which are given above.

2. COMPANY STATUS

The company is a company limited by guarantee. The members of the company are the trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

3. STATEMENT OF FINANCIAL ACTIVITIES FOR THE PRIOR YEAR

Note
Unrestricted
Funds
£
Income from:
Other trading activities
4
7,218
Charitable activities
5
138,744
Total income
145,962
Expenditure:
Charitable activities
(123,491)
Total expenditure
6
(123,491)

Net incoming / (outgoing) resources
before transfers
9
22,471
Transfers
Gross transfers between funds
–
Net movement in funds
22,471
Total funds brought forward
95,626
Total funds carried forward
118,097

4.
INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted
Funds
Restricted
Funds
£
£
Rental income
8,741
–
Miscellaneous income
91
–
8,832
–
Restricted
Funds
£
–
67,700
67,700

(37,802)
(37,802)

29,898
–
29,898
245,231
275,129

2022
£
8,741
91
8,832
Total
Funds
2021
£
7,218
206,444
213,662

(161,293)
(161,293)

52,369

–
52,369
340,857
393,226

2021
£
7,120
98
7,218

During the year ended 31 March 2022, income from other trading activities of £8,832 (2021: £7,218) was unrestricted and £nil (2021: £nil) was restricted.

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

5. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
Funds
Restricted
Funds
£
£
STMBC
123,744
–
NHS South Tyneside
–
–
NHS Cancer Communications
–
2,500
Winter Resilience Fund
–
3,796
Lloyds
–
–
Peer Pals – NHS CCG
–
15,000
Community Foundation
–
5,769
VCSEP
–
1,500
Lottery Community Fund
–
13,204
123,744
41,769		 2022
2021
£
£
123,744
123,744
–
800
2,500
–
3,796
21,000
–
15,000
15,000
34,000
5,769
8,900
1,500
3,000
13,204
–
165,513
206,444

During the year ended 31 March 2022, income from charitable activities of £123,744 (2021: £138,744) was unrestricted and £41,769 (2021: £67,700) was restricted.

6. EXPENDITURE

Charitable activities
Governance costs		 Direct
Costs
Staff
Costs
£
£
12,172
106,135
–
–
12,172
106,135
 Depre-
ciation
£
7,143
–
7,143		 Other
Costs
£
36,377
2,676
39,053		 2022
£
161,827
2,676
164,503
 2021
£
158,707
2,586
161,293

During the year ended 31 March 2022, total expenditure of £140,412 (2021: £123,491) was unrestricted and £24,091 (2021: £37,802) was restricted.

Direct costs are made up as follows:

Grants payable

Governance costs are made up as follows:
Independent Examiners Fees
Accountancy fees		 2022
£
12,639
2022
£
1,590
1,086
2,676
 2021
£
28,400
2021
£
1,536
1,050
2,586

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

6. EXPENDITURE (continued)

Other costs are made up as follows:

Travel
Telephone
Printing and office supplies
Repairs and facility charge
Council tax and water rates
Heating and lighting
Cleaning and waste
Insurance
Fees and subscriptions
Training
Consultancy and legal fees
Bank charges
Sundry expenses		 2022
£
260
1,532
60
12,633
1,960
1,193
1,758
2,298
2,381
–
11,952
92
258
36,377
 2021
£
157
1,240
–
8,535
1,973
2,542
1,446
3,816
2,316
150
9,035
62
789
32,061

7. STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL

The aggregate payroll costs were:

he aggregate payroll costs were:
Wages and salaries
Social security costs
Other pension costs		 2022
£
93,165
1,252
11,718
106,135
 2021
£
78,955
1,028
11,852

91,835

No employee earned in excess of £60,000 (2021: £60,000) during the year.

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

7. STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL (continued)

Particulars of employees:

The average number of staff employed by the charity during the financial year amounted to:

2022 2021
No No
Total 6 5

Key management personnel

The key management personnel of the charity comprise the trustees and the business manager. Total employee benefits of the key management personnel for the year were £25,244 (2021: £21,056).

Trustees' remuneration and expenses

No remuneration directly or indirectly out of the charity was paid or payable for the year to any trustee or any persons known to be connected with any of them. No reimbursement of expenses has been made or is due to be made to any of the trustees in respect of the year.

As part of the organisations insurance policy, trustees have been indemnified against consequence of any neglect or default on their behalf.

8. PENSION COSTS

Inspire South Tyneside participates in The Pensions Trust Growth Plan which is classified as a defined contribution scheme for the purposes of financial reporting. The assets of the fund are held separately from those of the charity in an independently administered fund.

Contributions to the fund during the year amounted to £11,718 (2021: £11,852). Amounts outstanding at the year end were £nil (2021: £nil).

9. NET INCOMING / OUTGOING RESOURCES

Net incoming/(outgoing) resources are stated after charging:

Staff pension contributions
Depreciation
Independent Examiners fee		 2022
£
11,718
7,143
1,590		 2021
£
11,852
6,411
1,536

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

10 TANGIBLE FIXED ASSETS

Cost
At 1 April 2021
Additions
Disposals

At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
Disposals
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021		 Freehold
Land &
Buildings

£
329,256
–
–

329,256
89,326
4,084
–
93,410
235,846
239,930		 Equipment
and
Furniture
£
20,735
1,827
–

22,562
15,648
3,059
–
18,707
3,855
5,087		 Total
£
349,991
1,827
–
351,818
104,974
7,143
–
112,117
239,701

245,017

All tangible fixed assets are held for charitable purposes.

11. DEBTORS

Trade debtors
Prepayments and accrued income
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accruals and deferred income
Other creditors
Taxation and social security costs
 2022
£
266,416
948
267,364
2022
£
1,057
5,642
426,146
227
433,072
 2021
£
144,000
856
144,856
2021
£
84
4,128
188,588
–
192,800

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

13. RESTRICTED FUNDS

For the year ended 31 March 2022

Building Fund
NHS Cancer Commitments
Winter Resilience Funds
Peer Pals – NHS CCG
Barbour
Community Foundation
VCSEP
Lottery Community Fund		 Movement in resources:
Balance
1 April
2021
Incoming
Outgoing
Transfers to
Unrestricted
£
£
£
£
239,929
–
(4,084)
–
–
2,500
(2,500)
–
–
3,796
(3,796)
–
34,000
15,000
(7,368)
–
1,200
–
–
–
–
5,769
(5,769)
–
–
1,500
–
–
–
13,204
(574)
–
275,129
41,769
(24,091)
–		 Balance
31 March
2022
£
235,845
–
–
41,632
1,200
–
1,500
12,630
292,807

For the year ended 31 March 2021

Building Fund
NHS South Tyneside
Winter Resilience Funds
Peer Pals – NHS CCG
Barbour
Community Foundation
VCSEP		 Movement in resources:
Balance
1 April
2020
Incoming
Outgoing
Transfers to
Unrestricted
£
£
£
£
244,031
–
(4,102)
–
–
800
(800)
–
–
21,000
(21,000)
–
–
34,000
–
–
1,200
–
–
–
–
8,900
(8,900)
–
–
3,000
(3,000)
–
245,231
67,700
(37,802)
–		 Balance
31 March
2021
£
239,929
–
–
34,000
1,200
–
–
275,129

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

13. RESTRICTED FUNDS (continued)

Building Fund – funding received towards the cost of the building and also the decorations, repairs and other costs associated with maintaining the IST premises. Annual depreciation is charged against this balance.

NHS Cancer Commitments - Microgrant funds were awarded to support awareness raising and engagement regarding Cancer.

Winter Resilience Funds – Winter resilience fund of £3,796 awarded to large and small charities across South Tyneside supporting mental and physical health and wellbeing.

Peer Pals – NHS Peer Pals award of £15,000 to deliver two test beds for the concept of Peer Pals (lived experience) focusing on long term conditions. The funding also supports the creation of a Peer Pals Network for South Tyneside ensuring system wide learning of the value of lived experience.

Barbour – Funding towards the volunteer celebration 2021.

Community Foundation – funding for a mapping project from the Vital Tyne & Wear Fund, specifically staff costs of employing a temporary, part time employee in order to map the remaining VCSE sector in South Tyneside.

VCSEP - funds were provided to support all LIO's engaging in this emerging planning forum.

Big Lottery – grant to set up “Sector Connector”, an organisation to allow local businesses to be more connected with their local communities by sharing resources.

NHS South Tyneside - Microgrants – small grants disseminated for health work within the community. Includes £5,000 of overheads.

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

14 Unrestricted funds

For the year ended 31 March 2022

Balance at Balance
1 Apr At 31 Mar
2021 Incoming Outgoing Transfers 2022
£ £ £ £ £
Designated funds:
Redundancy reserves 5,340 – – (652) 4,688
Contingencies for closure 11,118 – – – 11,118
Total designated funds 16,458 – – (652) 15,806
General funds 101,639 132,576 (140,412) 652 94,455
118,097 132,576 (140,412) – 110,261

For the year ended 31 March 2021

Balance at Balance
1 Apr At 31 Mar
2020 Incoming Outgoing Transfers 2021
£ £ £ £ £
Designated funds:
Redundancy reserves – – – 5,340 5,340
Contingencies for closure – – – 11,118 11,118
Total designated funds – – – 16,458 16,458
General funds 95,626 145,962 (123,491) (16,458) 101,639
95,626 145,962 (123,491) – 118,097

Designated funds are as follows:

Redundancy reserves – the balance of £4,688 (2021: £5,340) has been based on Government calculations as at 31 March 2022 (31 March 2021)

Contingencies for closure – the balance has been based on the estimated costs of closing the charity.

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

For the year ended 31 March 2022:
Tangible
Net current
fixed assets
assets
£
£
Restricted funds
235,845
56,962
Designated funds:
Redundancy reserves
–
4,688
Contingencies for closure
–
11,118
General unrestricted funds
3,856
90,599
Total funds
239,701
163,367
For the year ended 31 March 2021:
Tangible
Net current
fixed assets
assets
£
£
Restricted funds
239,929
35,200
Designated funds:
Redundancy reserves
–
5,340
Contingencies for closure
–
11,118
General unrestricted funds
5,088
96,551
Total funds
245,017
148,209		 Total
2022
£
292,807
4,688
11,118
94,455
403,068
Total
2021
£
275,129
5,340
11,118
101,639
393,226

16. CONTROLLING PARTY

In the opinion of the trustees the charity is not controlled by any single party.

INSPIRE SOUTH TYNESIDE NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2022

17. PENSION SCHEME

As disclosed within Note 1 of the financial statements, the charity participates in The Pension Trust Growth Plan Series 4 which has been reclassified to a defined benefit scheme following the implementation of The Pensions Act 2011. The Plan is funded and is not contracted-out of the State scheme. The Plan is also a multi-employer pension plan.

Actuarial valuations are carried out on the plan every three years in line with statutory requirements. As at 30 September 2014, the estimated debt on withdrawal liability for the charity was £166,857. However, in accordance with guidance issued by the Pension’s Trust none of the following events have occurred during the financial year; or are expected to occur subsequent to the Balance Sheet date.

The commencement or winding up of the Plan;

On that basis, under the guidance issued by the Pension’s Trust, there is no requirement to provide for such liability within the year-end financial statements as it is unlikely that the debt will crystallise at the current time.

The rules of the Growth Plan state that the proportion of obligatory contributions to be borne by the member and the member’s employer shall be determined by agreement between them. Such agreement shall require the employer to pay part of such contributions and may provide that the employer shall pay the whole of them.

The Growth Plan is a “last man standing” multi-employer scheme. This means that if a withdrawing employer is unable to pay its debt on withdrawal the liability is shared amongst the remaining employers. The participating employers are therefore, jointly and severally liable or the deficit in the Growth Plan.

18. TAXATION

The charity is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or Section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

19. VOLUNTEERS

The charity places a great value on the contributions that volunteers made to the organisation. Over the course of the year, we benefitted greatly from the considerable time, energy and expertise given by the board of trustees.

In addition, administrative and reception roles were undertaken by 5 volunteers, covering 20 hours a week.

20. RELATED PARTY TRANSACTIONS

During the year accountancy services were provided to the charity to the value of £10,152 (2021: £9,000) from Groundwork South and North Tyneside Limited, a company where Rebecca Maw (Chair) is an employee.