Charity number."1189928
Values Education for Life CIO
Trustees, Report and Financial Statement
For the period ended 30 November 2022

Values Education for Life CIO
CONTENTS
Page
Contents
Reference and adminisirative details of the CIO, itsTrustees and advisers
Trustee's statement
Trustees, report
Independent examiner's report
Statement of financial activities
io
Balance sheet
li
Statement of cash flows
12
Notes to the financial statements
13-23
Page I

Values Education for Life CIO
Reference and administrative details of the CIO, its Trustees and advisers
For the period ended 30 November 2022
Trustees
Mr D Rowse, Chair lappointed 12 June 2020)
Mrj Eyre (appointed 12 June 2020)
Mr C Clark (appointed 12 June 2020. resigned 09/08/2022)
Mrs C Downes (appointed 12 June 2020)
Mrs G Carter (appointed l May 2022)
Charity registered
number
1189928
Principal office
Community House
Coleshill Road
Atherstone
CV9 IBN
Independent Examlner
Mrs Pauline Hegarty
Bankers
HSBC plc
34 Poplar Road
Solihull
West Midlands
B913AF
Solicttors
Lodders Solicitors LLP
Number 10 Elm Court
Arden Street
Stratford upon Avon
Wanmickshire
CV37 6PA
Chartered Building Surveyors
Helme and Partners Ltd
3 Berry Close
Great Bowden
Market Harborough
16 7ES
Page 2

Values Education for Life CIO
Report of the Trustees
For the period ending 30 November 2022
The Trustee5 present their ststement for the period.
Keresley College
VEFL CIO took on the ownership of what then became Keresley College on the 8th October 2020. which included a lease
for seven years. the previous head of school on a selfemployed contract and a further six TUPED members of staff
from the previous owner. This allowed for the full-time education of 18 year 10 and 11 students. some of whom were
to take their GCSES in English. Maths, Science and Art that coming summer. The transition wa5 not easy due to Covid
still being very active and after the difficult experien￿ of transitioning from one employer to another staff were very
sensitive to any suggestions of change.
In spite of these difficulties all year 11 students successfully completed their GCSE courses and gained a placement at
the local FE college.
Although the charity was contracted to WCC LEA for student referrals fijrther recruÈtment during 2021 was very low
and there We￿ only 3 studentswho wentforward into the new academicyear 21122. This posed a considerable
financial strain on the finances of the charity which was not sustainable and although the situation improved sli8htly
overthe remainder of the academic year and three more fee paying students attended the college the trustees
decided that it was prudent to close Keresley College. Nevertheless and in order to minimise any disruption to the
education of students the trustees decided to keep the college open for the remainder of that academic year and as
most of the student5 were in year 11 Closu￿ would have minimal effect on their education.
During this period the charity approached the LEA on a number of occasions and requested an increase in student
referrals in order to keep the college open. which resulted in little action although no reason ft)r this was ever gtven.
The decision to close the college was taken with great reluttance, but the charity was pleased to keep Keresley open
until a majority of students had successfully taken their public examinations and olrtained a placement in FE. an
apprenticeship or employment. thereby successfully completing their secondary education.
Building Better Opportunities:
The work on this project has continued to help young people between the ages of 16 to 18 lor 25 where they were
disabledl who were Not in Education. Employment or Trdining. This has been accomplished by providing training
programs to develop life skills, personal confidence and self-esteem needed to apply for and retain employment. The
voung people referred to the charity are predominately from the North Warwickshire area.
This second phase of the funding for the projert has been extended until the end of March 2023 due to the difficulties
caused by the restrittions that were in p13ce due to Covid. This also had the effect of disrupting the normal delivery of
the various components of the program due to the inability to meet face to face or in groups. This was successfully
overcome by offering one to one consultations with young people either through phone ca115 or Zoom meetings.
Unfortunately, group meetings were terminated as there was a reluctance on the part of the young people to attend
them once the restrictions were lifted. We intend to run a series of group meetings during the next financial year
before the project ends if there are sufficient numbers to justify them.
Page 3

Values Education for Life ao
Report of the Tru5tee5
For the period ending 30 November 2022
The project has continued to successfully provide excellent support for vulnerable young people who do not have the
confidence and Social skills required to apply for and successfully flourish within the workplace.
General Considerationsfor the future
It is recognised by the trustees that future developments may be inhibited by a lack of a ￿ntrOl support team at the
core of the activities of the charity. In this respect the charity will be seeking to establish either directly or through
bought in provision a team of people who are well qualified and experienced in jointly taking forward and developing
the important work of the chartty into the future.
D Rowse- Truste
Date:
//,,
Page 4

Values Education for Life CIO
Report of the Trustees
For the period ending 30 November 2022
The Trustees present their annual report together with the financial statements of the CIO for the period to 30
November 2022.
Objectives and activities
. Policies and objectives
The advancement of education of young people under 25 through the provision of personal, social. moral and health
education and the publication of the useful results of research into the same so as to enable them to develop to their
full capacity as individuals and members of society.
In setting objectives and planning for artNities. the Trustees have given due consideration to general guidance
published by the Charity o)mmission relating to public benefit. includin8 the guidance 'Public benefit: running a charity
IPB21'.
b. Strategies for achieving objectives
The CIO ran a school for young people at risk of exclusion from main stream education until the end of July 2022. It also
continues to deliver the'BBO Progress, projert which will finally come to an end in March 2023.
It also intends to=
al maintain the current 'Helping Hand5, project based in Camp Hill Nuneaton
bl develop the'success for Ail, projert
c. Activities undertaken to achieve objectives
Helping Hands project- a project aimed at young people be￿een the ages of 12 and 18. offering them the
opportunity to regain their self-esteem and sense of personal responsibility within a social and educational context.
ii. Success For All- a project aimed at understanding the specific theory aftd good prartice which underpins the
educational intervention programme run by the charity-
iii. BBO Progress projert- a project aimed at supporting young people who are NE￿t0 move forniard into education.
training or employment.
d. Main artivities undertaken to fvrther the aus purpose for the public benefit
The Trustees of the CIO are aware of the Charity Commisslon'sguldan￿ on public benefit and this now forms part of
the Induction Pack for new Trustees.
The Public Benefit provided by the CIO include:
-the education of young people
The beneficiaries are all members of the public and local communrty. Further details can be found in the activities
ndertaken to achieve objectives section of the Trustees report.
Achievements and performance
a. Review of activities
See the Trustee's Statement on pages 3 and 4 for a review of the yearfs activities.
Page 5

Values Education for Life CIO
Report of the Trustees
For the period ending 30 Novernber 2022
Financial Review
. Going con￿rn
After making appropriate enquiries, the Trustees have a reasonable expectation that the CIO has adequate resources
to continue in operational existence for the foreseeable tsture. For this reason, they continue to adopt the going
concern basis in preparing financial statements.
b. Reserve policy
All non restricted funds which are received by the CIO are spent on the projects that the CIO is undertaking- any left at
the end of the financial year are carried forward for use in the new financial year. All restricted funds are used on the
projects that the funds were obtained for. Again where a project is running over more than one financial year, these
funds are carried over into the new financial year.
The Trustees have declared the balance of the money received from the sale of College House as a restricted asset, the
income from which will be used to support the projects that we are running and also to extend the work that we are
currently doing.
The Trustees have examined the cilys requirements for reserves in the light of the main risks to the organisation. It is
the Trustee's policy to maintain sufficient reserves to finan￿ the day to day running of the cio for a period of
approximately 12 months. The unrestricted reserves of the CIO at 30 November 2022 amounted to £106,841 and will
be sufficient to support the CIO in the immediate future.
The Trustees have reviewed the major internal and external risks to which the CIO is exposed and systems have been
established to mitigate those risks. These procedures are periodically reviewed to ensure that they still meet the needs
of the CIO.
c. Material investments policy
The investment portFolio is marlaged on a discretionary basis in line with the Trustee Ethical Policy statements. The
value of the investment portft)lio at 30 November 2022 was £73.628. The performance of the funds is monitored on a
regular basis.
d. Financial risk management objertives and policies
Cashflow risk
The CIO'S artivities expose it primariFy to the financial risks of changes in interest rates.
Credit risk
The CIO'S principal financial assets are bank balances and cash, trade and other receivables, and investments. The CIO'S
credit risk is primarily attributable to its trade recetvables. The amounts presented in the balance sheet are net of
allowance5 for doubthjl receivables. An allowance for impainnent is made where the￿ is an identified loss event
which, based on previous experience, is evidence of a reduction in the recoverabiltiy of the cash flows. The credit risk
on liquid funds 15 limited because the counterparties are banks with high credit-ratings assigned by international
credit-rating agencies. The CIO has no significant concentration of credit risk, with exposure spread over a large
Page 6

Values Education for Life CIO
Report of the Trustees
For the period ending 30 November 2022
number of counterparties and customers.
Liquidity risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future
development5, the CIO uses a mixture of long-tem) bank account5 and investments. Further details regarding liquidity
risk can be found in the statement of accounting policies in the financial statements.
e. Financial overvtew
At the start of the financial year the CIO had funds available amounting to £199.937. This was made up of £115,851 in
bank deposit5, and £77,266 in the investment account. There was also a positive balance of £6,820 due from debtor5
after netting off what was due to our creditors.
During the financial yearthe CIO received fees of £227.878 for the education of students at Keresley College, it also
received £23,793 in grants and £3.001 in donations. interest and investment income. A total of £254,672.
Expenditure during the financial year amounted to £349,166. The expenditu￿ at Keresley College was £321,984,. on the
BBO project £18,gS8and general expenditure to fund the charitycame to £8,224. Over the financial Yearthe￿ wasan
excess of expenditure over income of £94,494 which was funded frown the reserves.
The difficult financial position as described in the previous set of accounts wa5 ongoing and affected the cashflow of
the charity and continued to do so for the first five months of the year overthose five months the cashflow position
was difficult. Despite an increase in recruitment the CIO was paying out more each month than it was receiving in
income. The Trustees regularly met to consider the financial position of the charity as well as the recruitment of
students to Keresley College. which was haemorrhagin8 money from the CIO'S current account. Although the level of
recruitment increased, the number of students on roll was below the numberthat wa5 required to break even over the
full year. Furthermore. the majority of the students recrnited were Year 11 students who would only be attending until
the end of Jijne. Once all the Year 11 students left the financial posltion would be such that the income received would
not SUPPOrt the expenditure of the College. Based on previou5 years. experience. the required level of recruitment for
the new term was unlikely to be sufficient to meet the level of monthly expenditure until the end of the Autumn term.
This would have meant that the cashflow of the charity would have again been in negative territory for at least four
months.
The Trustee5 attempted to obtain a guarantee of a minimurn level of recruitment from the LEA. but they were unable
to provide any support in that area. Therefore the Trustees took the difficult decision to close Keresley College. This
decision was based on the financial projections. the dtfficuty in recruitment. lack of support from the LEA and other
issues.
Structure, governante and management
a. cO￿titUtion
Values Education for Life CIO is a registered chartty. number 1189928. and is constituted under the CIO Foundation,
date 12 June 2020
Page 7

Values Education for Life CIO
Report of the Trustees
For the period ending 30 November 2022
Structure. governance and managefnent (contÉnued)
b. Methods of appointment or election of Tru5tee5
The management of the CIO is the responsibility of the Trustees who are elected and co-opted under the terms of the
CIO foundation.
c. Organisational structure and decision-making policies
Detsils of the CIO, itsTrusteesand advisorsfor theyearended 30 November 2022 can be found on page 2.
d. Policies adopted for the induction and training of Trustees
New Trustees undergo a briefing on their legal obligations under charity law. the content of the constitution, the
decision making processes. and recent financial performance of the CIO. The new Trustees also meet otherTrustees.
Trusiees are encouraged to attend appropriate external training events where these will facilitate the undertaking of
their role.
e. Financial risk rnanagement
The Trustees have a55e5sed the major risks to which the CIO is exposed, in particular those related to the operations
and finances of the CIO, and are satisfied that Systems and procedures are in place to mitlEate exposure to the major
risks.
Statement of Tru5tees' responsibilities
The Trustees are responsible for preparing the Trusteeg reFM)rt and the financial statements in accordance with
applicable law and the United Kingdom Accounting Standards Iuntted Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each
financial period which give a true and fair view of the state of affairs of the CS0 and of its incoming resources and
application of resources, including its income and expenditure. for that period. In prep3ring these financial statements,
the Trustees are required to=
Select suitable accounting policies and then apply them consistently:
Obsetve the methods and principles of the charities SORP IFRS 102)-
Make judgements and accounting estimates that are reasonable and prudent-
State whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material departures
disclosed and explained in the financial statements:
Prepare the financial statements on the goinE concem basis unless it Is inappropriate to presume that the CIO will
continue in busine5S.
The Trustees are responsible for keepirE adequate accounting records that are sufficient to show and explain the CIO'S
transactions and disclose wtth reasonable accuracy at any time the financial position of the CIO and enable them to
ensure that the financial statements comply with the Charities Act 2011, the Charity {Accounts and Reports)
Regulations 2008 and the provision5 of the Trust Deed. They are also responsible for safeguarding the assets of the CIO
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of th
Mr D Rowse
Trustee
Page 8

Values Education for Life CIO
Independent examinerfs report
For the period ended 30 November 2022
Independent examlnerfs report to the Trustees of Values Education for Life CIO I'the Cl(Y)
I report to the charity Trustees on my examination of the accounts of the CIO for the period ended 30 November 2022.
Re5ponsibilitie5 and basis of report
As the Trustees of the CIO you are responsible for the preparation of the accounts in accordance with the
requirement5 of the Charities Att 20111'the 2011 ACVI.
I report in respect of my examination ofthe ci¢Ysaccountscarried out undersection 145 of the 2011 Art and in
carrying out my examination I hève followed the applicable Directions given by the Charity Commission under section
14515llbl of the 2011Art.
Independent examinerfs statement
Since the CIO'S gross income exceeded £250,(KKI your examiner rnust be a member of a body listed in sertion 145 of
the 2011 Act. I confim) that l am qualified to undertake the examination because l am a member of the ICAEW which is
one of the listed bodies.
Your attention is drawn to the fact that the CIO has prepared the accounts in accordance with Accounring 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 IFRS 1021 in preference
to the Accounting and Reporting by Charities: Statement of Recommended Prartice issued on l April 2005 which is
referred to in the extant regulations but has been withdrawn.
l understand that this ha5 been done in order for the accounts to provide a true and fair view in accordance with the
Generally Accepted Accounting Practice effective for reporting periods beginning on or after l January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect=
l- accounting records were not kept in respect of the CIO as required by settion 130 of the 2011 Act- or
2 - the accounts do not accord with those records- or
3 - the accounts do not comply with the applirdble requirements conceming the forn) and content of accounts set out
in the Ch3rities (Accounts and Report51 Regulations 21K)8 other than any requirement that the accounts give a 'true
and fairf view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connertion 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.
This report is made 501ely to the CIO'S Trustees. as a body. in accordance with Part 4 of the Charities (Accounts and
Reportsl Regulations 21K18. My work ha5 been undertaken so that I might state to the CIO'S Trustees those matters I
am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest extent
permitted by law, I do not accept or assume responsibility to anyone other than the CIO and the CIO'S Trustees as a
body, for my work or for this report.
Signed..
Dated:
Page 9

Values Education for Life CIO
Statement of financial activities
For the period ended 30 November 2022
Unre5trirted
funds
Restricted
2022 funds 2022
Totsl
funds Totsl funds
2022
2021
Income from:
Donations and legacies
Charitable activities
Investments
23.745
227.878
23.793
227,878
3.001
212,475
372,880
2,307
3,lJ)I
Total Income
3.1)49
251,623
254,672
587,662
Expenditure on:
Charitable activities
8.224
340,942
349,166
391,463
Totsl Expenditure
8.224
340.942
349,166
391.463
Net income before net gains on investments
Net losses on investments
5.175
3.638
89,319
94,494
3,638
196,199
3,738
Net movement in funds
8,813
89319
98,132
199,937
Reconcilliation of funds:
Total funds brought forward
Net movement in funds
185.092
8.813
14,845
89,319
199.937
98,132
199,937
Total funds Carried forward
14
176,279
74,474
101.805
199,937
The notes on pages 13 to 23 form part of these financial statements
Page 10

Values Education for Life CIO
Balance sheet
As at 30 November 2022
2022
2022
2021
Note
Flxed assets
Investments
li
73,628
77,266
Current assets
Debtors
Cash at bank and in hand
12
1,546
92,142
93,688
20,082
115,851
135,933
Creditors: amounts falling due within one year
Creditors: amounts falling due after one year
13
21
6.271
59,240
6S,SII
13.262
Net current assets
28,177
Total net assets
101,805
199,937
Charrty funds
Restricted funds
Unrestricted funds
14
74,474
176,279
14,845
185,092
14
Total funds
101,805
199,937
The financial statements were approved and authorised for issue by the Trustees on
and signed on their behalf by:
Mr D Rovtse
MrJE
Trustee
Trustee
The note5 on pages 13 to 23 fomi part of these financial statements
Page 11

Values Education for Life CIO
Statement of cash flows from operating activtties
For the period ended 30 November 2022
2022
2021
Note
Cash flows from operating activities
Net cash used in operating artivitie5
17
26.577
187,081
Cash flov￿ from investing activwties
Dividend5, interest and rents from investments
Transfer from Trust into fixed asset investments
2.868
2,298
-73,528
Net cash used in investing activities
2,868
-71.230
Cash flows from financing activities
Net cash provided by financing artivities
Change in cash and cash equivalents in the period
Cash and cash equivalent at beginning of period
23.709
115,851
115,851
Cash and cash equivalents at the end of the period
18
92,142
115.851
The notes on pages 13 to 23 form part of these financial statements
Page 12

Values Education for Life CIO
Notes to the financial Statements
For the period ended 30 Novernber 2022
l General Inforn)atson
Values Education for Life is a charitable incorporated organisation ICIOI registered with the Charity Commission in
England and Wales. The address of the registered office is given on the CIO infom)ation page of the financial
statements. The primary objerttve5 of the CIO are set out in the Trustee's report.
2 Accounting policies
2.1 Basi5 of prepar*ion of financial statements
The financial statements have been prepared in accordante with the Charities SORP IFRS 102)- 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 IFRS 1021 leffective I
January 20191 the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Charities
Act 2011.
The financial statements have been prepared to give a 'true and fairf view and have departed from the Charitie5
IAccounts and Reports) Regulations 2008 only to the extent required to provide a 'true and frdirf view. This departure
has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and
Reporting by Charities- Statement of Recommended Practice effertive from l April 2tX)5 which has since been
withdrawn.
Values Education for Lrfe meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initially
recognised at historical c05t or transattion value unless othenvise stated in the relevant accounting policy.
2.2 Going concem
After making appropriate enquiries. the Trustees have a reasonable expectation that the CIO has adequate resources
to continue in operational existence for the foreseeable future. For this reason. they continue to adopt the going
concerrE basis in preparing the financial statements.
2.3 Income
All income is recognised once the CIO has entitlement to the income. it is probable that the income will be received
and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependant on establishing entitlement, the probability of receipt and the
ability to estimate with sufficient accuraLry the amount receivable. Evidence of entttlement to a legacy exists when the
CIO has sufficient evidence that a gift has been left to them {throuEh knowledge of the existence of a valid will and the
death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy
claims in the estate. Receipt of a legacy must be recognised when it 15 probable that it will be received and the fair
value of the amount receivable. which will generaify be the expected cash amount to be distributed to the CIO. can be
reliably measured.
Grants are included in the Statement of financial attivities on a re￿1vable basis. The balance of income received for
specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where
income is received in advance of entitlement of receipt. its recognition is deferred and included in creditors as
deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is
receivable.
Page 13

Values Education for Life CIO
Notes to the financial statements
For the period ended 30 November 2022
Other income is recognised in the period in which it is recebvable and to the extent the goods have been provided or on
completion of service.
2.4 Expenditu
Expenditure is recoEnised once there is a legal or constructive obligation to transfer economic benefit to a third party.
it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can
be measured reliably. Expenditure is classified by activity- The costs of each activity are made up of the total of direct
cost5 and shared costs, including support costs involved in undertaking each artivity- Direct costs attributable to a
single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single attivity are apportioned be￿een those activities on a basis
consistent with the use of resources. Central staff costs a￿ allocated on the basis of time spent. and depreciation
charges allocated on the portion of the assets use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the CIO'S objectsves.
as well as any support costs.
All expenditure is inclustve of irrecoverable VAT.
2.5 Interest re￿1¥able
Interest on ftjnds held on dep051t is included when receNable and the amount can be measured reliably by the CIO- this
is nomially upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Taxation
The CIO is considered to pass the tests set out in Paragraph I Schedule 6 of the Finan￿ Art 2010 and therefore it
meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the CIO is potentially
exempt from taxatiork in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of
the Corporation Tax Act 2010 or Sertion 256 of the Taxation of Chargeable Gains Act 1992, to the extent thot such
income or gains are applied exclusively to charttable purposes.
2.7 Investments
Fixed asset investment5 are a form of financial instrument and are initially recognised at their trartrsartion cost and
subsequently measured at fair value at the Balance sheet date. unless the value cannot be measured reliably in which
case it is measured at cost less impairment. Investmentgains and losses, whether realised or unrealised are combined
and presented as Gains/lLossesl on Investmen￿ in the Statement of financial artivities.
2.8 Debtor5
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.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months
or less from the date of acquisition or opening of the deposit or similar account.
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Values Education for Life CIO
Notes to the financial statements
For the period ended 30 November 2022
Accounting Policies (continued)
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet 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 amountthat the CIO 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.
2.11 Operating leases
Rentals paid under operating leases are charged to the Statement of financial attivities on a straight line basis over the
lease term.
2.12 Pensions
The CIO operates a defined contribution pension scheme and the pension charge represents the amounts payable by
the CIO to the fund in respect of the period.
2.13 Fund accounting
General funds are unrestricted funds which are available to use at the discretion of the Trustees in furtherance of the
general objectives of the CIO and which have not been designated for other purposes.
Designated funds comprise unrestrirted funds that have been set aside by the Trustees for particular purposes. The aim
and use of each designated fund is set out in the notes to the financial ststements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which
have been raised by the CIO for particular purposes. The costs of raising and administering such funds are charged
against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2022
2022
Total
funds
2022
Total
funds
2021
Donations from Values Education for Life Trust
Donations from ex-staff
Grants
189,662
23,745
23,745
22,813
23,745
23,793
212,475
Page IS

Values Education for Life CIO
Notes to the financial ststements
For the period ended 30 November 2022
Income from charitable artivities
Restricted
funds
2022
Totsl
funds
2022
Total
funds
Z021
Education of young people- pupil fees
227,878
227￿78
372,880
Investment income
Unrestricted
funds
2022
Total
funds
2022
Totsl
funds
2021
Income from listed investments
Interest receivable
2.868
133
3.001
2.868
133
3,001
2.298
2.307
Analysis of expenditure on charitable activities
Summary by fund type
Unrestrirted Restrirted
funds
funds
2022
2022
Totsl
funds
2022
Totsl
funds
Z021
Education of young people
8,224
340,942
349.166
391,463
Analysis of expenditure by activrties
Artivities
undertaken
directly
2022
Support
Total
funds
2022
Totsl
funds
2021
2022
Education of young people
187,508
161,658
349,166
391.463
Page 16

Values Education for Life CIO
Notes to the financial ststements
For the period ended 30 November 2022
Analys of expenditure by activities {continued)
Analysis of direct costs
Total
funds
2022
Total
fund5
2021
Staff costs
Educational costs (Support)
Training and other staff costs
184,599
7.548
2,909
240,498
10,833
5,661
195.056
256.992
Analysis of support Costs
Total
funds
2022
Total
funds
2021
Repairs and maintenance
Premises
Transport
Communications
11.503
95.462
4.382
5,804
15,422
13.327
6.126
354
1,730
154.110
12,832
37.519
13.543
2,534
26,805
27.904
9,318
276
Professional Fees
Insurance
Bank charges
Other Expenditure
3,740
134,471
Independent examine¢s remuneration
2022
2021
Fees payable to the CIO'5 independent examiner for the independent examination
of the CIO'S annual accounts
1,000
2,5(X)
Page 17

Values Education for Life CIO
Notes to the financial statements
For the period ended 30 November 2022
staff Costs
2022
2021
Wages and salaries
Social security costs
Pension costs
175,990
2,058
6,551
184,599
225,599
11.335
3.564
240.498
The average number of persons employed by the CIO during the period was a5 follows:
2023
No.
2022
No.
Staff
13
No employee received remuneration amounting to more than £fA).(XY) in either year.
io
Trustees. remuneration and expenses
During the period. no Trustee received any remuneration or other benefit.
During the period ended 30 November 2022, travel expenses totalling £3,288 were reimbursed
to 2 Trustees.12021-£3.0661
Page 18

Values Education for Life ao
Notes to the financial statements
For the period ended 30 November 2022
li
Fixed asset investments
Ltsted
Listed
investments investments
2022
2021
Market value
At 1st December
Revaluations
77,266
3,638
73,528
3,738
At 30 November
73,628
77,266
Net book value
At 30 November
73,628
77,266
12
Debtors
2022
2021
Trade debtors
1,546
20,082
13
Creditt>rs
2023
2022
Amounts falling due within one year
Amountsfrdlling due after one year
6,271
59,240
13,262
65,511
13,262
Page 19

Values Education for Life ao
Notes to the financial statements
For the period ended 30 November 2022
14
staternent of funds- current period
Balance at
Balance at
30
Gainsl November
(Losses)
2022
December
2021
Income Expenditure
Unrestrirted fund5
Oesignated funds
Proceeds from sale of property
183.406
3,638
179.768
General funds
General funds
3.049
8,224
3,489
Total Unrestrirted fund5
185,092
3.(￿9
8.224
3,638
176,279
Restrirted funds
Kere51ey College
BBO in Coventry and Warwickshire
Youth Endowment Fund
8,047
4.932
1.866
227,878
23.745
321,984
18,958
86.059
9,719
1,866
14,845
251,623
340.942
74,474
Total of funds
199.937
254.672
349,166
3,638
101,805
Page 20

Values Education for Life CIO
Notes to the financial statements
For the period ended 30 November 2022
14
Statement of funds (continued)
Details of funds:
Sale of
ro
In 2015 the Value Education for Life Trust sold the propeity it owned in Birmingham and after
payment of all due expenses was left with £212.1))). The Trustee5 decided that £200,tKKJ of this
money should be allocated for the purchaselrefurbishmentldevelopment of a new 'Safe School,
for the benefit educationally and socially disadvantaged young people within the area it was
operating in. The funds were transferred into the CIO on closure of the Trust.
Keresle Colle
Keresley College was a Safe School operated by the chartty, bringing education to excluded
pupi15 aged 13- 18 in North Warwickshire and Nuneaton and Bedworth. The School was closed
in July 2022 due to insufficient numbers to cover the costs of running the school.
Buildin
Better O
ortunities
BBO
for oun
le in Covent
and Warwickshire
BBO Progress is a project funded by the National Lottery Community Fund and the European
Social Fund as part of the 'Building Better Opportunities. programrne.
The project aims to assist the most marginalised and disengaged young people not in
employment. education or training. or at risk of the same, to move closer to or into employment
by providing targeted and specialist support to individuals the Coventry and Warwickshiie
Local Enterprise Partnership area.
Youth Endowment Fund
Comprised of a grant from the Youth Endowmwnt Fund which allowed 'Success for All, to employ
three senior academics to support its work by extensively identifying the specific theory and
good practice which underpins the intervention program which the Chair designed. The unspent
funds of £6,256 were transferred into the CIO on closure of the Trust.
Page 21

Values Education for Life CIO
Notes to the financial 5tstements
For the period ended 30 November 2022
15
Summary of funds
Summary of fund5- current period
Balan￿ at
Balan￿ at
30
Gains/ November
(L055e5)
2022
November
2021
Incorne Expendrture
Designated funds
General funds
Restricted funds
183.406
1.686
I4￿45
183,406
7,127
74,474
3.049
251,623
8.224
340,942
3,638
199,937
254,672
349,166
3.638
101,805
16
Analysis of net assets between funds
Analysis of net assets between fvnds- current period
Unrestricted Restricted
fvnds
funds
2022
2022
Total
funds
2022
Fixed asset investments
Current assets
Creditors due within one year
Creditors due after one year
Totsl
73,628
92,142
73.628
93,688
-6,271
-59,240
101.805
1,546
6,271
59,240
63,965
165,770
17
Reconciliation of net movement in funds to net cash flow from operdting activities
2022
2021
Net income for the period (as per Statement of Financial Activities)
98,132
199,937
Adjustments for:
Gainslllossesl on investments
Dividends, interests and rents from investments
Decrease/lincreasel in debtors
Increase in creditors
3,638
2,868
18.536
52,249
-3,738
-2,298
-?0,082
13,262
Net cash provided by operating artivities
26,577
197,081
Page 22

Values Education for Life CIO
Notes to the financial statements
For the period ended 30 November 2022
18
Analysis of cash and cash equivalents
2022
2021
Cash in hand
92,142
115,851
Total cash and cash equivalents
92.142
115,851
19
Pension commitments
The CIO operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the CIO in an independently administered fund. The pension cost charge
represents contributions payable by the CIO to the fund and amounted to £6551 in the period.
20
Operating lease commitments
At 30 November 2022 the CIO had arrdnged with WCC the return of the building to the LEA as it
no longer met the minimum provision required by WCC. The LEA ha5 submitted a dilapidations
report in which it suggests that the charity is expected to contribute a minimum of £59.240 to
return the building to the state that the LEA expect. Given the conditions in the lease which was
agreed by both parties. the charity has questioned the figure and placed the matter in the hands
of its professional advisors. This amount has been provtded for within the accounts.
21
Related party tran5artions
There were no related party transactions during this financial year.
Page 23