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← Inspire South Tyneside

2024-03-31-accounts

INSPIRE SOUTH TYNESIDE

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 2024

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 2024

Reference and Administrative Information

Trustees

Board of Inspire South Tyneside from April 2023: Rebecca Maw (Chair) Bill Scott Tina Roche Jenna Ingoe John Moiser Registered Office John Hunt House 27 Beach Road South Shields Tyne and Wear NE33 2QA Key Management Personnel Charlotte Harrison - CEO Independent Examiner 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 2024

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 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document, the 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 2023/24 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 2024

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.

Trustees

Rebecca Maw (Chair) Bill Scott Tina Roche Jenna Ingoe John Moiser

Key personnel

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

Chief Executive Officer Development Officer (Funding and Governance) Development Officer (Networks and Partnerships Senior Community Connector (Was previously Community Connector) Resources and Administrative Support

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 2023/24 the charity continued to implement its new strategy under the following four key areas:

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 MARCH 2024

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.

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 2024

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 and this year saw continued promotion of our Volunteer Skills Programme (supported by the National Lottery Community Fund) and our Volunteers Skills passport. We have also secured funding from the Community Foundation as part of the Know Your Neighbourhood fund from DCMS to support and promote volunteering. This will see an expansion of our work via ‘plinth’ to promote volunteering opportunities in South Tyneside.

The organisation is keen to develop links with the business community in South Tyneside as part of its work in supporting and promoting volunteering. This work includes working with organisations to develop policies to release staff to volunteer, organising corporate volunteering opportunities, promoting trustee roles within the business community and the development of a programme of workshops to support knowledge transfer from the business community into the vcse sector.

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.

Our Strategic priorities are as follows:

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 MARCH 2024

This year has seen the development of a refreshed VCSE strategy in conjunction with partners. It is based around three pillars –

Sitting underneath these themes are actions to increase capacity of the sector to adapt and thrive in these challenging times, increase awareness of the sector’s impact on climate change and how can we deliver net zero VCSE services. We will seek to maximise use of community assets and consider how we can develop Plinth to include asset sharing capacity.

Enhancing Inspire’s and the wider sectors collaborative approach to data and insight is a significant strand of work in the strategy that will develop over the next couple of years. We hope to develop a Data and Insight network and from that a strategy. We are however conscious that will take significant energy and resources to do it effectively.

As common theme across the strategy will be how we can support and grow the very smallest of our VCSE organisations and we will be considering how Inspire can use its assets as part of this – for example innovative use of our office space.

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.

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 MARCH 2024

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 2023/24

RISE North East grant of £6,240 was received to support the local community with physical activity sessions and £5,000 was received to support core costs after Covid-19.

Poverty Truth Network of £5,000 was received to support poverty truth commission.

Community Foundation of £34,933 was received to support Know Your Neighbour project and including core costs. £5,000 was received to support core costs after Covid-19.

Lottery Community Fund of £30,000 was received to support volunteer costs relating to VSP project and Know Your Neighbour project including core costs.

South Tyneside Council of £138,387 relating to Health Net and LIO was received to cover core costs.

Inspire South Tyneside recorded a surplus on unrestricted funds for the year of £1,349 (2023: £4,853) and a surplus on restricted funds of £69,383 (2023: £46,376).

Reserves Policy

At 31 March 2024 Inspire South Tyneside holds unrestricted funds of £116,463 (2023: £115,114); (£15,806 (2023: 15,806) of which are designated funds) and restricted funds of £408,566 (2023: £339,183). The charity has free reserves of £100,657(2023: £99,308).

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 2024/2025

We recognise that communities in South Tyneside continue to face both legacy challenges (pandemic) and also new and existing – including ongoing challenges due to cost of living, levels of poverty and inequality (including health inequalities).

We recognise that these challenges cannot be resolved by any one organisation and we need system change to support our communities. We continue to commit to working across the South Tyneside system in the form of ‘alliances’ where all parties seek to work collaboratively for the benefit of South Tyneside residents rather than the logo on our lanyard. In these collaborations, Inspire remains a passionate voice for investing in prevention, for understanding the lived experience of our communities and finding ways to shift the dial on decision making so that residents can take more of a lead.

INSPIRE SOUTH TYNESIDE

REPORT OF THE TRUSTEES (continued)

YEAR ENDED 31 MARCH 2024

Future Plans 2024/2025 (continued)

We hope to secure funding to launch a Poverty Truth Commission in South Tyneside. We are working with the Poverty Truth Network to understand how such an approach will work in South Tyneside. One of the exciting elements of a Poverty Truth Commission is how it can leave a lasting legacy and a shift in power dynamics between ‘state’ and ‘communities. We are at the early stages of this journey but are excited about its potential.

We will also be developing a refreshed VCSE strategy in conjunction with partners.

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 3 February 2025 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 2024

I report on the accounts of the Charitable Incorporated Organisation for the year ended 31 March 2024, 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: 3 February 2025

INSPIRE SOUTH TYNESIDE

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2024

Note
Unrestricted
Funds
£
Restricted
Funds
£
Income from:
Other trading activities
4
3,102
–
Charitable activities
5
156,837
101,607
Total income
159,939
101,607
Expenditure:
Charitable activities
158,590
32,224

Total expenditure
6
158,590
32,224




Net incoming / (outgoing)
resources before transfers
9
1,349
69,383
Transfers
Gross transfers between funds
–
–
Net movement in funds
1,349
69,383
Total funds brought forward
115,114
339,183
Total funds carried forward
116,463
408,566

 Total
Funds
2024
£
3,102
258,444
261,546

(190,814)
(190,814)

70,732

–
70,732
454,297
525,029
 Total
Funds
2023
£
15,295
369,526
384,821
(333,592)

(333,592)
51,229
–
51,229
403,068
454,297

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 2024

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		 2024
£
973
542,153
543,126
(246,165)
£
228,068
296,961
525,029
408,566
15,806
100,657
525,029
 2023
£
£
233,313
11,283
465,410
476,693
(255,709)
220,984
454,297
339,183
15,806
99,308
454,297

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 2024 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 3 February 2025 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 2024

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 2024.

Investment income

Interest is included when receivable by the charity.

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2024

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 2024

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 2024

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 2024

3. STATEMENT OF FINANCIAL ACTIVITIES FOR THE PRIOR YEAR

Note
Unrestricted
Funds
£
Restricted
Funds
£
Income from:
Other trading activities
4
15,295
–
Charitable activities
5
130,554
238,972
Total income
145,849
238,972
Expenditure:
Charitable activities
(140,996)
(192,596)

Total expenditure
6
(140,996)
(192,596)


Net incoming / (outgoing)
resources before transfers
9
4,853
46,376
Transfers
Gross transfers between funds
–
–
Net movement in funds
4,853
46,376
Total funds brought forward
110,261
292,807
Total funds carried forward
115,114
339,183		 Total
Funds
2023
£
15,295
369,526
384,821

(333,592)
(333,592)

51,229
–
51,229
403,068
454,297

4. INCOME FROM OTHER TRADING ACTIVITIES

Unrestricted
Funds
Restricted
Funds
£
£
Rental income
838
–
Miscellaneous income
2,264
–
3,102
–

 2024
£
838
2,264
3,102
 2023
£
6,711
8,584
15,295

During the year ended 31 March 2024, income from other trading activities of £3,102 (2023: £15,295) was unrestricted and £nil (2023: £nil) was restricted.

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024

5. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
Funds
£
STMBC
138,387
NHS – Anti-poverty
–
NHS Cancer Communications
–
Lloyds
–
Community Foundation
5,000
Lottery Community Fund
–
Micro grants
–
Sir James Knott
7,000
RISE North East
5,000
Poverty Truth Network
–
The Joicey trust
1,000
VONNE
450
156,837		 Restricted
Funds
£
–
–
–
–
59,867
30,000
500
–
6,240
5,000
–
–
101,607		 2024
£
138,387
–
–
–
64,867
30,000
500
7,000
11,240
5,000
1,000
450
258,444		 2023
£
130,554
167,010
2,000
17,250
10,000
25,703
10,009
7,000
–
–
–
–
369,526

During the year ended 31 March 2024, income from charitable activities of £156,837 (2023: £130,554) was unrestricted and £101,607 (2023: £238,972) was restricted.

6. EXPENDITURE

Charitable activities
Governance costs		 Direct
Costs
Staff
Costs
£
£
35,713
104,391
–
–
35,713
104,391
 Depre-
ciation
£
5,245
–
5,245		 Other
Costs
£
42,381
3,084
45,465		 2024
£
187,730
3,084
190,814
 2023
£
330,658
2,934
333,592

During the year ended 31 March 2024, total expenditure of £158,590 (2023: £140,996) was unrestricted and £32,224 (2023: £192,596) was restricted.

Direct costs are made up as follows:

Grants payable
Volunteer associated costs
Governance costs are made up as follows:
Independent Examiners Fees
Accountancy fees		 2024
£
34,813
900
35,713

2024
£
1,830
1,254
3,084
 2023
£
188,528
–
188,528
2023
£
1,740
1,194
2,934		 2023
£
188,528
–
188,528
2023
£
1,740
1,194
2,934

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2024

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
Room hire
Marketing		 2024
£
658
2,311
312
12,830
1,126
14,856
2,802
1,785
3,465
–
1,187
126
389
534
–
42,381
 2023
£
127
2,193
–
10,790
1,405
3,917
2,686
2,247
2,459
478
9,175
122
961
150
206
36,916

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

The aggregate payroll costs were:

Wages and salaries
Social security costs
Other pension costs		 2024
£
93,942
963
9,486
104,391
 2023
£
89,941
524
8,361
98,826

No employee received emoluments of more than £60,000 during the year (2023: £60,000 - none).

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2024

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:

2024 2023
No No
Total 5 6

Key management personnel

The key management personnel comprise trustees and the CEO. The total employee benefits of the key management personnel were £35,839.

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 £9,486 (2023: £8,361). Amounts outstanding at the year end were £194 (2023: £136).

9. NET INCOMING / OUTGOING RESOURCES

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

Staff pension contributions
Depreciation
Independent Examiners fee		 2024
£
9,486
5,245
1,830		 2023
£
8,361
6,388
1,740

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2024

10 TANGIBLE FIXED ASSETS

Freehold
Land &
Buildings
Equipment
and
Furniture
£
£
Cost
At 1 April 2023
329,256
22,562
Additions
–
–
Disposals
–
–
At 31 March 2024
329,256
22,562
Depreciation
At 1 April 2023
97,478
21,027
Charge for the year
4,054
1,191
Disposals
–
–
At 31 March 2024
101,532
22,218
Net book value
At 31 March 2024
227,724
344
At 31 March 2023
231,778
1,535
All tangible fixed assets are held for charitable purposes.		 Total
£
351,818
–
–
351,818
118,505
5,245
–
123,750
228,068

233,313

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		 2024
£
171
802
973

2024
£
–
6,679
226,729
12,757

246,165
 2023
£
10,324
959
11,283
2023
£
1,839
3,515
250,355
–
255,709

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2024

13. RESTRICTED FUNDS

For the year ended 31 March 2024

Building Fund
Peer Pals – NHS CCG
Barbour
Community Foundation
VCSEP
Lottery Community Fund
Sir James Knott
Lloyds
MI South Shields ASD
RISE North East
Poverty Truth Network		 Movement in resources:
Balance
1 April
2023
Incoming
Outgoing
Transfers to
Unrestricted
£
£
£
£
231,777
–
(4,054)
–
40,690
–
–
–
1,200
–
–
–
10,000
59,867
(16,080)
–
1,500
–
–
–
32,758
30,000
(850)
–
4,008
–
–
–
17,250
–
–
–
–
500
–
–
–
6,240
(6,240)
–
–
5,000
(5,000)
–
339,183
101,607
(32,224)
–		 Balance
31 March
2024
£
227,723
40,690
1,200
53,787
1,500
61,908
4,008
17,250
500
–
–
408,566

For the year ended 31 March 2023

Building Fund
NHS Cancer Commitments
Peer Pals – NHS CCG
Barbour
Community Foundation
VCSEP
Lottery Community Fund
Sir James Knott
NHS – microgrants
NHS – Anti-poverty
Lloyds		 Balance
1 April
2022
£
235,845
–
41,632
1,200
–
1,500
12,630
–
–
–
–
292,807		 Movement in resources:
Incoming
Outgoing
Transfers to
Unrestricted
£
£
£
–
(4,068)
–
2,000
(2,000)
–
–
(942)
–
–
–
–
10,000
–
–
–
–
–
25,703
(5,575)
–
7,000
(2,992)
–
10,009
(10,009)
–
167,010
(167,010)
–
17,250
–
–
238,972
(192,596)
–		 Balance
31 March
2023
£
231,777
–
40,690
1,200
10,000
1,500
32,758
4,008
–
–
17,250
339,183

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2024

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 2023.

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.

NHS – Anti-poverty – Funding to focus on anti-poverty initiatives. The fund has been used to support over 60 warm spaces as part of the cost of living response.

Lloyds Foundation – Funding was provided to support our resilience and strategic plans.

Sir James Knott - The trust acknowledged the role of local infrastructure organisations in providing long term support to local charities and that that the trust benefits from such organisations in two ways. Firstly, they provide networking with Charities, local intelligence, and PR for the trust. Secondly, they support Charites with advice and training so that they are well run, this means that the applications that the trust receive from charities are of a higher standard. It was acknowledged that the trust should contribute to supporting local infrastructure organisations in a more consistent and proactive way through direct financial support.

RISE North East – Funding provided to support the local community with physical activity sessions.

Poverty Truth Network – Funding was provided to support poverty truth commission.

INSPIRE SOUTH TYNESIDE

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2024

14 Unrestricted funds

For the year ended 31 March 2024

Balance at Balance
1 Apr At 31 Mar
2023 Incoming Outgoing Transfers 2024
£ £ £ £ £
Designated funds:
Redundancy reserves 4,688 – – – 4,688
Contingencies for closure 11,118 – – – 11,118
Total designated funds 15,806 – – – 15,806
General funds 99,308 159,939 (158,590) – 100,657
115,114 159,939 (158,590) – 116,463

For the year ended 31 March 2023

Balance at Balance
1 Apr At 31 Mar
2022 Incoming Outgoing Transfers 2023
£ £ £ £ £
Designated funds:
Redundancy reserves 4,688 – – – 4,688
Contingencies for closure 11,118 – – – 11,118
Total designated funds 15,806 – – – 15,806
General funds 94,455 145,849 (140,996) – 99,308
110,261 145,849 (140,996) – 115,114

Designated funds are as follows:

Redundancy reserves – the balance of £4,688 (2023: £4,688) has been based on Government calculations as at 31 March 2024 (31 March 2023)

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 2024

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

For the year ended 31 March 2024:
Tangible
Net current
fixed assets
assets
£
£
Restricted funds
227,724
180,842
Designated funds:
Redundancy reserves
–
4,688
Contingencies for closure
–
11,118
General unrestricted funds
344
100,313
Total funds
228,068
296,961
For the year ended 31 March 2023:
Tangible
Net current
fixed assets
assets
£
£
Restricted funds
231,777
107,406
Designated funds:
Redundancy reserves
–
4,688
Contingencies for closure
–
11,118
General unrestricted funds
1,536
97,772

Total funds
233,313
220,984		 Total
2024
£
408,566
4,688
11,118
100,657
525,029
Total
2023
£
339,183
4,688
11,118
99,308
454,297

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 2024

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 and payroll support were provided to the charity to the value of £nil (2023: £9,000) from Groundwork South and North Tyneside Limited, a company where Rebecca Maw (Chair) is an employee. This arrangement ended on 31 March 2023.