Charity number: 1189928 Values Education for Life CIO Trustees, Report and Financial Statement For the period ended 30th November 2024
Values Education for Life CIO cO£[S Page Contents Reference and administrative details of the CIO. its Trustees and advisers Trustee'5 Statement Trustees, report Independent examiner's report Statement of financial actlvltles io Balance sheet li Statement of cash flows 12 Note5 to the financial statements 13-23 Page I
Values Educatlon for Ufe CIO Reference and admlnlstratlve detalls of the ao. its Trustees and advisers For the period ended 30 November 2024 Trustees Mr D Rowse, Chair (appointed 12 June 20201 Mrj Eyre (appointed 12 June 2020) Miss C. Downes (appointed 12th June 2020, resigned 1st September 2024) Mrs C. Everitt (appointed 7th November 2023 1 Mrs M Balding {appointed 24th September 2024 1 Charlty re8lstered number 1189928 Prlnclpal offlce 5 Brayford Square London EI OSG Independent Examlner Bankers HSBC pl¢ 34 Poplar Road Solihull West Midlands B913AF Sollcftors Lodders Solicitors LLP Number 10 Elm Court Arden Street Stratford upon Avon Warwickshire CV37 6PA Chartered Bulldlng Surveyors Helme and Partners Ltd 3 Berry Close Great Bowden Market Harborough LE16 7ES Page 2
Values Education for Life CIO Report of the Trustees For the period ended 30 November Z024 The Trustees present their statement for the period. Legacy Issues: 111 Keresley College.. The situation regarding the position of the Charlty In relation to the Dilapidation Report received from Warwickshlre County Council, along With the suggestionnthat the Charity was expected to hand over a minimum of £59,240 to put the building back into the condition that the authority required has still not been resolved. As stated In last year's report, our suNeyors had responded to WCC'S Le831 Services in August 2023. They receNed an aknowled8ement of their letter by return, but since then there has been no further communication. The Trustees are extremely puzzled over this lack of communication. Their position has always been that any refurbishment that they are responsible for they would pay. They consulted with the surveyors regarding their responsibilities and expected to ne8Otiate with the authorlty to come up with a mutually acceptable flgure. The failu of wcc to respond has left the Trustees in a difficult position. According to the lease, the liability for any dllapidations Is legally enforceable for up to twenty year5. This means that the Charity has to keep sufficient funds available for that len8th of time or until the authority chooses to chase for payment if earlier. This reduces the funds available to the charity for its work and makes it difficult to ralse other funds through grant giving charities. The Trustees are considering their position and how to resolve the issue to the mutual benefit of all. We await a response from the authorlty. 121 Buildin8 Better Opportunlties- All financlal records relatin8 to this project have to be kept until 2035 as it was part funded by the European Social Fund. At present the records are in safe storage and can be produced whenever they are required. 131 WPCC: Success for All: This project. which started in April 2023 finally closed officially at the end of March 2024 when the allocated funds ran out. It addressed the the needs of young people identified as being at high risk of educational and soclal exclusion as a result of anti social behaviour and involvement in 8an8s, leading to criminal activity, including acts of crlmlnal or domestlc vlolence. This targeted progam and activities are aimed at diverting Childft and yOUDg people away from crime and anti-social behaviour with an emphasis on reducin8 and preventing knife and other violent crime. It also worked to reduce substance abuse of all kinds and the detrimental effect that this has on their local community, together with intervention to reduce offending and reoflendin8. Following the ending of this project, the Charity continued to support the work being done in this area of Nuneaton chosen for the project, whilst attempting to raise additional funding to further the work. Unfortunately, the fundraising was unsucce55ful, and the paid part-time worker was su¢ce$5ful in obtaining a full-time job. Consequently, this Project had to close at the end of Ottober, seven months after the WPCC funding had ended. Page 3
Values Educatlon for Llfe CIO Report of the Trustees For the perlod ended 30 November 2024 General Conslderatlons for the future: The Trustee5 have already recogni5ed thot future developments may be inhibited by the lack of a central support team for the Charity. During the course of the year the Trustees have considered this problem and are endeavouring to put in place the necessary funding to alleviate this situation. They are also aware that much of the delivery of its programmes and the management of them ha5 been undertaken by two of the Trustees. It is planned that in the future theses areas wlll be conducted by others and that the Trustees will only be concerned with setting the framework within which the Charity wlll operate, and then monitoring those artrvities. The delivery and management of its activities will be undertaken by employees. It is further recognised that the knowledge and experience gained by the Charity durlng Its over thirty years of successful work with socially dIdVantaged and disengaged young people needs to be promoted far more widely for the benefit of society in general. Opportunities to do this will be investigated and Whe p055ible Implemented when funding is available. D Rowse- Trustee Date.. Page 4
Values Education for Llfe CIO Report of the Trustees For the perlod ended 30 November 2024 The Trustees present thelr annual report together with the financial ststements of the CIO for the period to 30 November 2023. Objertlves and actMtk5 a. Policles 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 a5 individuals and members of Society. In setting objectives and planning for activities. the Trustees have given due consideration to general guidance published by the Charity Commlssion relatin8 to public benefit, including the 8uidance 'Public benefit.. runnin8 a chaflty IPB21'. b. Strategles for achlevlng objectlves The CIO ran a school for young people at risk of excluslon 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 Hands, projert based In Camp Hlll Nuneaton bl develop the'success for All, project c. Actlvttles undertaken to a¢hleve objertlves i. Helping Hands projert- a project almed at young people between the ages of 12 and 18. offering them the opportunity to re8ain thelr self*steem and sense of personal responslbilrty within a social and educational context. li. Success For All - a project almed at understandlng the speafic theory and good prartlce whlch underplns the educational interventlon pro8ramme run by the charity. iii. B80 Progress project- a project aimed at SUPPOrting young people who a NEEf to move forward into education, trainin8 or employment. d. Maln actlvltles undertaken to further the a(Ys purpose for the publlc benefft The Trustees of the CIO are awa of the Charity Commission's guldance on public benefit and this now f0rn1S 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 community. Further details can be found in the activities undertaken to achieve objectives sertion of the Trustees report. Achlevements and perfomHnce a. Revlew of actlvities See the Trustee's Statement on pages 3 and 4 for a review of the yearfs activities. Page 5
Values Educatlon for Llfe CIO Report of the Trustees For the perlod ended 30 November 2024 Financial Review a. Goln8 concern 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 concern basis in preparing financial statements. b. Reserve pollcv All non restritted 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 thon one financial year, these funds are carried over into the new flnancial year. The Trustees have declared the balance of the money recelved from the sale of Colle8e House as a restricted a55et, the income from whlch 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 examlned the CIO'S requirements for reser¥es in the light of the main risks to the organisatlon. It Is the Trustee's poliry to maintain sufficient reserves to finance the day to day running of the CIO for a perlod of approximately 12 months. The unrestricted reserves of the CIO at 30 November 2023 amounted to £89,313 and will be sufflclent to support the CIO in the immedlate future. The Trustees have revievftd the major intemal and external rlsks to whkh the CIO Is exposed and systems have been established to mitigate those rtsks. These procedures are periodically reviewed to ensure that they still meet the needs of the CIO. ¢. Materlal Inv•stm•nts polky The Investment portfolio is managed on a dixretionary basis in line with the Trustee Ethical Policy statements. The value of the investment portfolio at 30 November 2023 was £75,027. The perforniance of the funds is monitored on a gular basis. d. Flnanclal rlsk management objectlves and pollcles Cashflow rlsk The CIO'S activities expose It prlmarily to the financial risks of changes in interest rates. Credlt rlsk The CIO'S prlncipal financlal assets are bank balances and cash. trade and other recelvables, and investments. The CIO'S redit risk is primarily attributsble to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivable5. An allowance for impairment is made where there is an identified loss event which, based on previous experience. 15 evidence of a redurtion in the recoverability of the cash flows. The credit risk on liquid funds is limited because the cour¢terparties are banks with high credit-ratings assigned by international credit-rating agencies. The CIO has no signtficant concentration of credrt risk. with exposure spread over a large number of Page 6
Values Education for Life CIO Report of the Trustees For the period ended 30 November 2024 counterparties and customers. Llquldlty rlsk In order to maintain liquidty to ensure that sufficient funds are available for ongoing operations and future developments, the CIO uses a mixture of lon8-term bank accounts and investments. Further details regarding liquldlty risk can be found in the statement of accountin8 policies in the financial statements. e. Flnancial overview As stated last year, the Sncome of the Charlty has reduced substantially due to the forted closure of Keresley College. At the start of the financial year the assets of the Charlty amounted to £122.442, consisting of £75,027 in fixed assets (investments wlthin the Hargreaves Lansdown Fund and Share Account) and £47.415 in current assets (cash In the bank), From these amounts £59.735 has to be set aside to cover the amount due to Creditors. the bulk of which1£59,2401 has been identifled by WCC as due to cover dilapidations to the building used when runnlng Kerseley College. We also have to take account of the sum of £5.593 whlch was due from Debtors to the Charity. This left the Charity with a net total of £68,262 at the stsrt of the financial year to support its work. During the course of the year. the CIO received £1.397 in unrestricted Income from donations and interest on the cash held in our accounts. Despite the efforts of th appointed fundraSser. over the period of thelr engagement no additional funds were obtained. Consequently. over the year our expenditure {£22.4531 far exceeded our income. Of the expenditure, the Success for all project expenditure amounted to £6,937. The remaining expenditure, £15,516 was split between the continuation of the project funded by the Charity1£5,7461 and the Charity's running c05ts1£9,7701. This years excess of expenditure over income {£21,0561 was taken from the reserves, which at the end of the year, taking into account the Creditors and Debtors. stood at £76,325. a reduction of £12,988 trom the previous year. The Trustees are considering how best to address the problem of 8eneratin8 additional unrestricted income to cover its fixed annual costs as well as improving the financial position ot the charity to enable it to maintain and develop its work with the beneficiaries that it aims to help and support. Stnlcturei governance and management a. Constltudon Values Education for Life CIO is a registered charlty. number 1189928, and is constituted under the CIO Foundation, date 12 June 2020 Page 7
Values Educatlon for Llfe CIO Report of the Trurtees For the perlod ended 30 November 2024 Strn(reffl governance and management (contlnued) b. Methods of appolntment or election of Trustees The management of the CIO is the responsibility of the Trustees who are elected and ¢o-OPted under the terms of the cio foundation. c. Or8anlsatlonal structure and decislon4nakln8 polkles Detsils of the CIO. Its Trustees and advisors for the year ended 30 November 2023 can be found on pa8e 2. d. Pollcles adopted for the Inductlon and tralnln8 of Trustees New Trustees under80 a briefin8 on their le8al obli8ations under chartty law. the content of the constitution, the decision making processes, and recent financial performance of the CIO. The new Trustees also meet other Trustees. Trustees are encouraged to attend appropriate external trainin8 events where these will facilitate the undertaking of their role. e. Flnanclal rfsk management The Trustees have assessed the major risks to whlch the CIO is exposed, in partlcular those related to the operations and finances of the CIO, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Statement of Trustee vesponslbllltles The Trustee5 are responsible for preparing the Trustees, report and the financial statements in accordance wlth applicable law and the United Kin8dom Accountin8 Standards {United Kingdom Generally Accepted Accounting Practice). The law appllcable to charities in England and Wales qUireS the Trustees to prepare financial statements for each flnanclal period whlch give a true and fair view of the state of affalrs of the CIO and of its incomin8 resources and application of resources. including its income and expenditure. for that period. In preparin8 these financial statements. the Trustees are required to.. Select suitable accounting pollcies and then apply them consistently; Observe the method5 and principles of the charities SORP IFRS 1021. 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 disc105ed and explained in the flnancial statements; Prepare the financial statements on the golng concern basis unle55 it is inapproprlate to presume that the CIO will continue in business. The Trustees are responslble for keeping adequate accounling records that are sufficient to show and explain the CIO'S transactions and disclose with reasonable accuracy at any time the financial POSFtion of the CIO and enable them to ensure that the financial statements comply wrth 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 step5 for the prevention and detection of fraud and other irregularities. Approved by order of the memb rs of the board of Trustees on If and signed on their behalf by: Mr D Rowse Trustee Page 8
Values EduG*ion for Life ao Independent examlner's report For the period ended 30 November 2024 Independent examlnees report to the Trustees of Values Education for Life ao I'the Cl¢YI I report to the charity Trustee5 on my examination of the accounts of the CIO for the period ended 30 November 2023. Responsibilltles and basis of report As the Trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the 2011 ACVI. I report in respect of my examination of the CIO'S accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Direction5 given by the Charity Commission under section 14515llbl of the 2011A¢t. Independent examlnees 5tstement Yosjr attention is drawn to the fact that the CIO has prepared the accounts in accordance wlth Accounting and Reporting by Charities: Statement of Recommendéd 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 Charitles.. Statement of Recommended Practio issued on l Aprll 2(MJ5 which is ferred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effectNe for reportltvd period5 beginnin8 on or after l January 2015. I have completed my examination. I confirm that no matters have come to rny attention in connertion with the examinètlon giving me cause to believe that in any material respect- l- accounting records were not kept in respect of the CIO as required by section 130 of the 2011 Act; or 2 - the accounts do not accord with those records: or 3 - the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2CQ8 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 connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the CIO'S Trustees, as a body. in accordance with Part 4 of the Charities IAccounts and Reports) Regulations 2CKJ8. My work has been undertaken so that I might state to the CIO'S Trustees those matters l am required to state to them in an Independent examinerf5 report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume respon5ibiltty to anyone other than the CIO and the CIO'S Trustees as a body. for my work or for this reF)Ort. Signed: Dated.. Page 9
Values Educatlon for Llfe CIO Statement of Ilnanclal actlvitles For the perlod ended 30 November 2024 Total funds Total funds 2024 2023 funds Restritted 2024 fvnds 2024 Income from: Donations and legacies Charitable activities Investment5 250 21.818 685 217 217 1,180 Totsl Income 1.397 1,397 22,753 Expendltur¢ on: Charitable activities IS16 6.937 22,453 36,641 Total Expendlture 15516 6,937 22,453 36.641 Net Income ljefore net 8alnsllosses on Investments Net gainsllosses on investments 14.119 6.937 21,056 .13.890 1,398 Net movement In funds 6,051 6,937 12,988 -12.492 Reconcllllation of funds: Total funds brought forward Net movement in funds 162,1 6,051 72,788 6.937 89,313 12,988 101.805 -12,492 Total fund5 carrfed forward 14 156,050 79,725 76,325 89,313 The notes on pages 13 to 23 fomi part of these financlal statements Page 10
Values Education for Life ao Balance sheet As at 30 November 2024 20Z4 2024 2023 Flxed assets Investments li 83,094 75,027 Current assets Debtors Cash at bank and in hand 12 5,589 47.415 53,004 5,593 68,466 74,059 Creditors: amounts falling due within one year Cfeditors: amounts falling due after one year 13 21 533 59,240 59,773 533 59,240 Net rrQftt assets 6.769 Total net assets £ 76,325 89,313 Charfty funds Restrlcted funds Unrestricted funds 14 14 79,725 156,050 -72,788 162,101 Totsl funds 76,325 89,313 The flnanclal statements were approved and authorised for issue by the Trustees on and signed on their behalf by: Mr D Rowse Trustee Mr J Éyre Trustee The notes on pages 13 to 23 form part of these financial statements Page 11
Values Educatlon for Ufe CIO Ststement of cash flows from operating artlvltles For the perlod ended 30 November 2024 2024 202a Note Cash flows from operating activitles Net cash used in operating artivitie5 17 24.266 -23,676 Cash flows from Investlng actlvltles Dividends. interest and rents from investments Transfer from Trust Into fixed asset investments 3.214 Net cash used in iTrvestin8 activities 3,214 sh flows from flnancin8 actlvltles Net cash provlded by Ilnancln8 artlvltles Change In ¢•5h and a$h equlvalents In the period Cash and cash equivalent at beginnlng of period 21.052 68,466 -Z3,676 92,142 Cash and cash equlvalents at the end of the perlod 18 47,414 68,466 The notes on pages 13 to 23 fomi part of these financial statements Page 12
Values Education for Life ao Notes to the flnanclal statements For the period ended 30 November 2024 l General Infomiation Values Education for Life Is a charitable incorporated orBanisation {CIOI registered with the Charity Commission in England and Wales. The address of the registered office is given on the CIO infonnation page of the financial statements. The primary objectNe5 of the CIO are set out in the Trustee's report. 2 Accountln8 policies 2.1 Basls of preparation of financial statemènts The flnancial statements have been prepared in accordance with the Charities SORP IFRS 1021-Accountin8 and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective I January 20191 the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charitles Act2011. The financial statements have been prepared to give a 'true and fairf vlew and have departed from the Charlties (Accounts and Reports) Regulations 2(J)8 only to the extent required to provide a 'true and fairf view. This departure has involved following the Charities SORP {FRS 1021 published in Ottober 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from l April 21)J5 which has since been withdrawn. Values Education for Llfe meets the deflnltion of a publlc benefit entity under FRS 102. Assets and liabilities are Inltlally ognised at historical cost or transaction value unless otherwise stated in the relevant accountin8 policy. 2.2 Goln8 concern After making appropriate enquiries. the Trustees have a reasonable expectatlon that the CIO has adequate resources to continue in operational existence fof the foreseeable future. For this reason. they continue to adopt the 80in8 concern basis in preparlng the flnancial statements. 2.3 Income All income is recognised once the CIO has entitlement to the income, it is probable that the income wlll be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependant on establishin8 entitlement. the probability of receipt and the abillty to estimate with sufficient accuracy the amount receivab. Evidence of entitlement to a legacy exlsts when the CIO has sufficient evidence that a gift has been left to them Ithrough knowledge of the existente 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 is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the CIO, can be reliably measured. Grants are included in the Statement of financial activities on a recelvable basi5. 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 15 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 Educatlon for Ufe CIO Notes to the flnanclal statements For the perlod ended 30 November 2024 Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of SeiCe. 2.4 E¥pendlture Expenditure is reco8nised once there is a legal or constructive obligatlon to transfer economic benefit to a thlrd party. It is probable that a transfer of economic benefits will be required in settlement and the amount of the obli8ation can be measured reliably. Expenditure is classified by activty. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attrlbLrtable to a single activity are allocated directly to that actNty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of tirne spent. and deprecbation charges allocated on the portlon of the assets use. Expenditure on charitable activities is incurred on directly undertakin8 the activities which further the CIO'S objectives, as well as any support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Interest recelvable Interest on funds held on deposit is included when receivable and the arnount can be measured reliably by the CIO,. this Is normalfy upon notiflcation of the interest paid or payable by the institutlon wlth whom the funds are deposited. 2.6 Taxatlon The CIO is considered to pass the tests set out in Paragraph I khedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the CIO is potentially exempt from taxatlon 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 that such inrne or gains are applied exclusively to charitable purposes. 2.7 Investments Fixed asset investments are a fonn of financial instrument and are inttially recognised at their transactlon cost and subsequently measured at fair value at the Balan sheet date, unSess the value cannot be measured reliably In which case it is measured at cost less impainnent. Investment 8ains and losses, whether reali5ed or unrealised are combined and presented as Galns/lLossesl on investments. in the Statement of financial activities. 2.8 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 dixounts due. 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-terni highly liquid investments with a short maturity of three months or less from the date of acquisttion or opening of the deposit or similar account. Page 14
Values Education for Life CIO Notes to the financial ststements For the period ended 30 November 2024 Accountlng Polkle5 (contlnuedl 2.10 Uabllltles and provisions Liablllties are recognised when there is an obligation at the Balance sheet date as a result of a past event, it 15 probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognlsed at the amount that the CIO anticipates It will pay to settle the debt or the amount it has received a5 advanced payments for the 8oods or services it must provide. 2.11 Operatlng leases Rentals paid under operatin8 leases are char8ed to the Ststement of financial activitles on a straight line basis over the lease term. Z.IZ Penslons The CIO operates a defined contributlon pension scheme and the penslon charge represents the amounts payable by the CIO to the fund in respert of the period. 2.13 Fund actountlng General funds are unrestricted funds whlch are available to use at the discretlon of the Trustees in furtherance of the general objertlve5 of the CIO and which have not been designated for other purposes. Deslgnated funds comprise unrestricted funds that have been set aslde by the Trustees for partlcular 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 accordan with spectfic restrictions imposed by dortrors or whlch 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 Unrestrlrted Restrirted fvnds funds 2024 2024 Totsl funds 2024 Total funds 2023 Donations from Values Education for Life Trust Donations Grants 250 21,816 22,066 Page 15
Values EducatSon for Llfe ao Notes to the flnanclal ststements For the period ended 30 November 2024 Income from charitsble arti¥it Restricted fvnds 2024 Total funds 2014 Totsl funds 2023 Educatlon of young people Investment In¢ome Unrestrfrted fvnds 2024 Total Total funds 2023 2024 Income from listed investments Interest receivable 3,214 1,180 4,395 3,214 1,180 4,395 685 685 Analysls of exPendIre on charltable actlvttles Summary by fund type Unrestrlcted Restrlcted funds funds 2024 2024 Total fvnd$ 2024 Total funds 2023 Education of young people 15516 6,937 22,453 36,641 Anafysls of expendlture by actl¥ltios Activities undertaken dlrectlv 2024 Support Total funds 2024 Totsl funds 2023 2024 Education of young people 12,354 10.099 22.453 36,641 Page 16
Values Education for Life ao Notes to the financial statements For the period ended 30 November 2024 Analy5 of expendlture by activitses (contlnued) Analysls of dlrect costs Totsl fitnds 2024 Totsl funds 20223 Staff costs Educational costs Isupportl Training and other staff costs 10.018 81 16,423 252 766 10,099 17,441 Analysls of support costs Total fvnds 2024 Total funds 2023 Repairs and malntenance Premises Transport Communications Utilities Professional Fees Insurance Bank charges Other Expenditure 400 5.611 1,563 2,203 635 599 8,471 49 397 8,758 2,599 60 200 19,200 12,354 Independent examlnees remuneratlon 2024 2023 Fees payable to the CIO'S independent examiner for the independent examination of the CIO'S annual accounts 1,000 Page 17
Values EdUtIOn for Llfe ao Notes to the financial st*ements For the perlod ended 30 November 2024 Staff Costs 2024 2023 Wa8es and salaries Social security costs Pension costs 8.876 13,902 37 9,764 16,423 The average number of persons employed by the CIO durin8 the perlod was as follows: 2024 No. 2023 No. Staff No employee recefved remuneration amountin8 to more than £60.000 in either year. io Trustees, remuneratlon and expenses During the period, no Trustee received any remuneratk)n or other beneflt. During the period ended 30 November 2024. travel expenses totalling £634.65 were 1MbUr5ed to 3 Trustees.12023 -£2011.35) Page 18
Values Educatlon for Llfe CIO Notes to the Ilnanclal statements For the perlod ended 30 November 2024 li Flxed asset investments Llsted Listed Investments Investments 2024 2023 Market value At 1st December Revaluations 75,026 8,068 73,628 1,399 At 30 November 83,094 75,027 Net book value At 30 November 83,094 75,027 Debtors 2024 2023 Trade debtors 5,589 5,593 13 Credltors 2024 2023 Amounts fallin8 due within oneyeor Amounts falling due after one year 533 59,240 533 59,240 59,773 59,773 PaRe 19
Va uesE ucation eCIO Notes to the flnanclal statements For the perfod ended 30 November 2024 14 Statement of funds- current perlod Balance at Balance at 30 Galn$l November Income Expenditure (Losses) 2024 December 2023 Unrestricted funds Designated funds Funds available 162,1 170,169 General fund$ General funds -19.065 1.397 IS,516 33,184 Total Unrestrlcted funds 143.036 1.397 15,516 136,985 Restrlcted funds Balance at Transfers between Funds 135 2023 Income Expendlture Keresley Colle8e BBO in Coventry and Warwickshire Youth Endowment Fund wp&cc 79,725 7.on 6,937 135 72.788 6,937 79,725 Total of funds 70348 1397 22.453 57,260 Page 20
Values Education for Life CIO Notes to the flnanclal statements For the period ended 30 November 2024 14 Statement of funds Icontlnued) Detalls of funds: Sale of ro ert In 2015 the Value Education for Life Trust sold the property it owned in 8irmingham and after payment of all due expenses was left with £212,CXY). The Trustees decided that £200,0 ot 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. Kefesle Colle Keresley Colle8e was a Safe School operated by the charlty, bringlng education to excluded pupils aged 13 - 18 in North Warwickshire and Nuneaton and Bedworth. The School wa5 closed In July 2022 due to insufficient numbers to cover the costs of runnin8 the school. Buildin Better ortunities BB ent and Warwl k hire 880 Progress is a project funded by the National Lottery Community Fund and the European Social Fund as part of the 'Buildin8 Better Opportunltles, pro8ramme. The project aims to asslst 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 supwrt to individuals in the Coventry and Warwickshire Local Enterprise Partnership area. Youth Endowment Fund Comprised of a grant from the Youth Endowment Fund which allowed 'Success for All. to emplov three senlor academics to support Its work by extenSNely identifying the Specific theory and good practice which underpin5 the intervention program which the Chalr deslgned. The unspent funds of £6,256 were transferred into the CIO on closure of the TrusL Warwickshire Police and Crime Commissioner Success for All is a projett funded by the Warwickshire Police and Crime Commissioner whith addresses the needs of young people who have been identified as being at high risk of education and social exclusion as a result of anti Social behaviour and involvement in 8an8s, leading to criminal activity. including acts of Criminal or domestic violence. It is based in Camp Hill in Nuneaton.
Values Educatlon for Ufe ao Notes to the flnanclal Statements For the perfod ended 30 November 2024 15 Summary offunds Summary of funds- current period Balance at Balance at 30 Gainsl November (Losses} 2024 November 2023 Income Expendlture Deslgnated funds General funds Restricted funds 184,804 22,703 72,788 8.068 192,872 36,822 79,725 1.397 15,516 6,937 89.313 1.397 22,453 8.068 76,325 16 Analysls of net assets between funds Analysls of net assets between funds. current perlod Unrestrltted Restrlcted funds funds 2024 2024 Total fund5 2024 Fixed asset investments Current assets Creditors due within one year Credltors due after one year Total 75,027 87.074 75,027 74,059 -533 -59,240 89,313 13,015 533 59,240 72,788 162.101 17 Re¢onclllatlon of net m¢)vement In funds to net ash flow from opeTrtiry actlvltles 2024 2023 Net income for the period las per Ststement of Financial Activities) 12,988 -12,492 Adjustments for: Gainslllosse51 on investments Dividends, interests and rents from investments Decrease/lincrease) in debtors Increase in creditors 8,068 3,214 -1,398 4,047 -5,739 Net cash provlded by operating acbvftle5 24,266 -23,676 Page 22
Values Edu&ition for Life CIO Note5 to the finan¢lal statements For the perlod ended 30 November 2024 18 Analysls of cash and cash equlvalents 2024 2023 Cash In hand 47.415 68,466 Total cash and cash equivalents 47,415 68,466 19 Penslon wmmltments The CIO operate5 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 presents contrlbutlons payable by the CIO to the fund and amounted to E887.63 in the perlod. 20 Operatlng lease commltments At 30 November 2022 the CIO had arranged with WCC the return of the buildin8 to the LEA as It no longer met the minimum provislon required by WCC. The LEA has submitted a dilapidations report in which It suggests that the charity is expected to contribute a minlmum 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 provided for within the accounts. 21 Related party tran%lonS There were no related party transactions durin8 this financial year. Page 23