Soar Valley Outreach Financial statements For the fifteen month period 30 September 2020 to 31 December 2021 Soar Valley (￿tre*h Annual Report 2021 Soar Valley ￿tre ststutory Inforniatlon Registered Address 4 Meadow Road. Mountsorrel, Leics LE12 7HN Truste•s Name Mr Tim Jackson Mrs janet Jackson Rev Graham Dunn Mr Ken Arklev Date a Appolnted 30 September 2020 Appointed 30 September 2020 Appointed 30 September 2020 Appointed 11 March 2021 Accountini ptrlod These financial statements cover the period from 30 September 2020 through to 31 December 2021 Bankevs Natwest Independent Examlner Ask Accountancy Limlted 154 Rothley Road, Mountsorrel Leicestershire LE12 7JX Page l of 10 Soar Valley 0￿r￿a¢h Annual Report 2021 Contents Trustees Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Accounts 9-10 Pa8e 2 of 10 Soar Valley Outre¥h Annual Report 2021 Trustees Report The trustees present theirannual report and financial statements for the perKJd 30 September 2020 through to 31 December 2021. Charltable oblert The Charity Incorporated Organisation ICIO} is 8obEmed by a Foundation Constitution approve(l on 30, September 2020. This states that the purpose of the CIO i5"FoT the public benefit. the alleviation of poverty in Leicestershire through proviS￿n of a Ta￿e of 5eviices including but not Ilmited to food provision, personal support and debt advbce." The main activities of the charity are the development of church based social and community action especlally In the field of Food Prolects providing food parcels and personal 5UPPOrt. Also the provision of completely free face to fa￿ money adwice to those in debt and budBeting and benefits advlce. In plannlng the adlvitres of the CIO the Trustees have consldered ihe Charity commission's guldance on public benefil. Or8anlsatlon stnirturt and dedslon mJkir4 process Soar Valley Outreach 15 overseen by the Trustees who meet regularly durin8 the year. All trustees keep the compositlon of the board under review and will seek to appoint additional members with appropriate skills and eypertise should the need arise. The trustee board aims to have a broad repre5enlotion of trustees. The opportunity for new trustees is advertised across the Soar Valley Outreach network together with the outline of the type of person required. Generally, trustees will have a knowledge of the settor, or a specifbc skill set, and need to be a Christian. Interested parties are gNen details of the background of the charity in order to make them aware of current actlvitie5. Oblectlves and artlvltles In order to achieve the Pufp05e the CIO provides a rnn8e of services. Soar Valley Communlty Food ProJ¢(t The Provision of fo(Ml pa[￿lS to those in need across the villages between Leicestcr and Loughborough through a nctwork of 8 centres. DurinB the year we provided 2,222 food par￿15 to families through centres in Rothley. BiTStall. Mountsorrel. Barrow. Sileby. Syslon, Thurniaston and Anstey. As well as providing the f(th parcels each eenlre encourages those beingw supported to have a chal over a hoi drink to understand how else we can help them. This includes sign w5ting lo othcr services th81 are available. We have a team of17 volunt¢ers who FA)rt and check the f(xxl, siore il. pick and distribute food parcels. We receive donations of f￿￿1 and money from a widc range of sources. Wc eslimate that the value of the we have given out is ar0￿d £70,0(K). Page 3 of 10 Soar VallÈy (￿tre Annual Report 2021 Soar Valley Community Moncy AdTr4ee The provision of debt advice to those who need help through our 3 debt advisotB. We received fornial FCA approval to offer the seniees on Th March 2021 and coinmenced on I April 20? l. During the period we worked wilh 20 cli￿ts ￿ryth totsl debts of £473,OIM). Of these people 5 Complet￿ a debt relief order, l ¢ompletd a bankruptcy and 2 Lleard their debts. In July 2021 we rcce11.￿ fundin&1 to cmploy a Financial Coach for 2 days per week. They have worked with around 30 p&)ple suptK)rting them with benefits *lvtce. benefits fornis supplier queries, budgeting atKI other issues as th¢y Omse. The TespKJnse from Iho8e who have rec¢ived the help has been very positive. Other During the year we received funding to provid¢ gas/el¢ctric top ups to support those stru￿ling wilh their bills. W¢ have also provided 3 small Brants lo help those in Deed. Flnan¢e rewt The total income In the period was £46,921 includin8 the transfer of £19,003 from Rothley Baptist Church that was the charity that ran Soar Valley Community Food Projert before the establishment of Soar Valley Outreach. We are very grateful for the many individua15 who support the work by ljoth re8ular8ivlng or one off donations. We are also grateful for the8rants received from Mountsorrel Community Fund, Parkers Motor Sefyice, Charnwood Borough Council, Leicestershire County Council Household suP￿rt Fund, A-Z Transport and Sea8rave War Memorlal. The total expenses in the period were £16.6￿ c0vw1￿ 5alarfes, food, equl&knent, cllent 5UPPOrt, debt advice costs and insurance. That resulted in an unrestrirted surplu5 of É24.367 and a restritted surplu5 of £5.954 that was carried forward. Investment The Trustees. having regard for the liquidity ￿quirementS of the chaiity a￿* to the re5erve5 policy, have kept all available funds in a bank current account with instènt access to all funds at any time. Reserves pollcv The Trustees have established a reserve5 poliry, and are satisfied that they have sufficient reserves at the Balance Sheet date131 Detember 2021). tO8ether with ongoiTh£ income anticipated. to enable the charity to function effectivety in the coming year. The reserves policy states that the charityaims to have sufficient unrestricted funds available to cover at least 3 months of operations. Any expenditu￿ that would reduce the reserves below this level. even temporarity. is subject to agreement fiom the Trustees together with an agreed plan to address any deficit. Total bank balances at 31 December 2021 were £30.321. Page 4 of 10 Soar Val￿Y Outreach Annual Report 2021 Plan5 forthe future The Charity plans to continue the activtties outlined above In the forthcomiwd vear. When planning our activitles for 2022. the trusiee5 have considered the Charity Commission'5 8uidance on public benefft. Statrrntnt of ris*s The trustees confirm that they have consideration to the major rlsks to which the ¢harity is exposed and that systems hove been designed and established to mitigate tl)ose risks. Trustee responslbillties for the fiThJnclJl ststements Charity law requlres the tTUStees of the charity to prepare statements of accovnt for each financial vear which give a true and tair view of the state of affairs of the charity and of Its incoming resources and applicotlon of resources for that perlod. In preparin8 those financial statements, the trustee5 are required to,. Select sultable accountin8 policies and apply them ¢i)nystently: Make judgements and estimates that are reasonable and prudenl: Prepare the financtal statement5 in accordance wtth the methods ond prlnciple5 set out in the Statement ol Recommended Practice Accountin8 and Reporting by Charities and to stale whether or not the accounts have been prepared in accordance wlth that statement and appllcable accountin8 Standards. Prepare the financial statements on the going concern basis unbess it is inappropflaie to presume that the charlty will continue in operation. The trustees are responsible for keepin8 proper accounting records which are sufficient to show and explaln the charitvs transaction5 and to disclose with reasonable accurary at any time the financial position of the charlty, and to enable them to ensure that any statements of account comply wlth the requirements of the Charities Act 2011. They are also responsible for $8fe8uarding the assets of the charity and iaklng reasonable steps for prevention and detection of fraud and other irregularities. Slgned on behalf of the trurttes Rev Graham Dunn rim Jacky)n 301gi 2022 Pa8e 5 of 10 Soar Valley Outreach AnTrual Report2021 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF SOAR VALLEY OUTREACH I report on the accounts for the period from 30 September 2020 to 31 December 2021, whlch are set out on page5 8 to 14. Respect1￿ responslblllbes of trustees and •xamlner The charity's trustees are responsible for t1￿ preparation of the 4Ycounts. The charl￿$ tru5tee5 consider that an audit is not ￿qllired for this year under settion 144 of the Charitie5 Act 2011 (the Charities Act) and that an Independent examination is needed. It is my ￿SpOnsibl1•ty to: ' e¥amine the accounts under section 145 01 the Charfties Art, . follow the procedu￿$ raid down in ihe general Dlrectk)ns given by the Charity Commlssion (under section 1451511bl of the Charities Act. and . state whether particular matters have come to my attention. B4$1s of l•xlependent examlnerfs report My examination was carried Qui in accordance with general DI￿rtIOnS given by the Charlty Commission. An examinatlon Includes a ￿VIeW of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of anv unusual item5 or disclosures ITr the accounts. and seekin8 explanations from the tThstees concerning any such matters. The procedures undertaken do not provide all the evidence that would be ￿qUired in an audit. and consequentty no Opinion 15 8Nen as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statement below. Independent examiner's ststement In conntytlon with my examlnation, rto matter has come to my attenth)n.' lal which gives me reasonable cause to believe that in any material respett the requirement5: . to keep accounting records in accordance with Section 130 of the Charities Act- - to prepare accounts which accord with the atcounting records and comply with the accounti requirement5 of the Chartties Act have not been met,. or Ibl to which, in my opinion, attention should be drawn in order to enable a proper understandln8 of the accounts to be reached. Andrew Hurd FCCA Chartered Cerrlfied Accountsnt Ask Accountancy Limited Dated...&..l.&).i2 Page 6 of 10 Soar Valley Ovts*ath Annual Report 2021 STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31st DECEMBER 2021 Total 2021 Total 2020 te General Restrirted Incomin8 resources Voluntsry income Donations Other income- Transfer from Rothley Baptist Church 16.979 10.939 27.918 19.IY)3 I9,￿3 Totsl Incomlng resources 35,982 10,939 46,921 Resource5 expended Chariiable actNitie5 Charitable actwblies 11,61S 4.985 16,600 Total resources expended 11.615 4,985 16.6rAI Net Incomlns iesources for the year 24367 5,954 30,321 Reserves brought forward at 30th September 2020 ReseNe$ f¢)rward at 3tst December 2021 24367 5.954 30,321 Pa8e 7 of 10 Soar Valley Outreach Annual Report 2021 BAJANCE SHEET AS AT 31st DECEMBER 2021 2021 Note 2020 Current assets Cash at bank 30.321 30,321 Funds Unrestrlcted Restrlcted 24,367 5,954 30,321 Rev Graham Dunn Date 30181 ZL rim Jackson Page 8 of 10 Soar Valley Outreach Annual Report 2021 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31stDECEM8ER 2021 Attounting polkies 1.1 Basls of preparntion The accounts have been prepared under the historbcal cost convention. The accounts are prepared in accordance wlth the ACtOUDting Regulations set out under the Charities Act 2011, and with the Charities Statement of Recommended Prattl￿ 3￿5. Total 2021 Total 2020 2 Donatlons General flestrirted Donatlon5 from individuals Grants and donations from or8anisations 11.029 5,950 11,029 16.889 10.939 Total 16,979 10,939 27,918 Total 2020 3 Charftable •ctlvttles Total 2021 General Restlitted Salary & National Insurance Food purchases Client support costs Debt advice costs IT & equipment Premises cost InSUfance Other expenses 2.372 4,401 265 1,1 1,883 875 465 164 2,372 325 1.586 490 4,755 4,726 1,851 1,883 875 465 376 212 Total 11,615 4,985 16,61XI 4 Employees and Trustees The Charity employs one part time Financial Coach. None of the Trustees re(eived any remuneration during the year. Page 9 of 10 Soar Valley Otrtreach Annual Report 2021 5 Summary of rt5eThe5 held General Total 2021 Restritte(J Total 2020 General reserve Client support Financial Coach LCC Covid support DRO Supwrt 24.367 24,367 264 3,196 2,375 119 264 3.196 2.375 119 24,367 aient support- covers funds recep4ed to 5UPPQrt Specific clients Financial coach- covers a specific grdnt received to cover the costs of the Financlal Coach LCC Covid support- covers fvnds received to provide gaslelertric top UP5 and extra food DRO Support- covers fees received to pay clients debt relief order fees. 5.954 30.321 6 Pe￿lOn5 The Chèrity ts an emphyer particlpatlng in a pension scheme known a5 the Nest Pension Scheme 1.the Scheme"). However the onty employee has opted out so there Is no cost. Page 10 of 10