Soar Valley Outreach Annual report 2022
Soar Valley Outreach Annual Rep(*t 2022 Soar Valley Outreach Statutory Infomiatlon R¢8lrtered Address 4 Meadow Road, Mountsorrel. Leics LE12 7HN TNStees Name Mr Tim Jackson Mrs janetJaCkn RevGraham Dunn Mr Ken Arkley Date a Appointed 30 September 2020 Appointed 30 September 2020 Appolnted 30 September 2020 Appointed 11 March 2021 Bank•rs Natwest Indep•nd•nt Examln•r Ask Accountancy Rothley Road, mounts0r1 Page l of 10
Soar Valley Outreach Annual Report 2022 Contents Trustees Rert Independent Examlnels Report Statement of Flnancial ActNities Balance Sheet Notes to the Accounts 8-10 Page 2 of 10
Soar Valley Outreach An1 Report 2022 Trustees Report The trustees present thelr annual rert and Ilnancial statements for the year to 31 December 2022. Charftsble object The Charity Incorporated Organlsation ICIOI Is governed by a Foundat5on Constitutlon approved on 30 September 2020. This States that the purpose of the CIO is"For the public beneflt. the allevlatlon of poverty in Leicestershire through provi51on of a range of services includin8 but not Ilmited to food provislon, personal support and debt advke." The maln actlvltles of the charlty are the development of church based soclal and community actlon especlalty in the field of Food Projects provSdlng food parcels and personal support. Also the provislon of completely free fao to face money athice to those in debt and bud8etln8 and benefits dvlce. In planning the activities of the CIO the Trustee5 have consided the Charlty commlsslon's guldance on publlc benefft. Oryanlsatlon stru¢ture and de¢lslon makln8 process Soar Valley Outreach Is overseen by the Trustees who met regularly durln8 the year. All trustee5 keep the composStion of the board under review and wlll seek to appolnt addltlonal members with appropriate skills and expertlse should the need arlse. The trustee board aims to have a broad representatlon of trustees. The opportunlty for new trustees is advertlsed across the Soar Valley Outreach network together with the outllne of the type of person required. Generally, trustees will have a knowledge of the sertor, or a specific skill set. and need to be a Christlan. Interested parties are 8lven details of the back8round of the charity In order to make them aware of current activities. Objertfves and actlvftl•s In order to achleve the Purpose the ao provides a range of services. Soar Valley Communlty Food Project Th¢ provision of food parcels to those in neal across the villages between Leicester and LA)ughborough througb a network of 8 centres. During the year we provided 3,077 food parcels to families through centres in Rothley, Birstall, Mountsorrel, Barrow, Sileby, Systo Thurnwton and Anstey. This was a 380/0 increase on last year. As well &$ providing the food parcels each centre encourages those being suptx)rted to have a chat over a hot drink to understand how else we Can help them. This includes sign posting to other services that are available. We have a team of18 volunteers who sort and check the store IL pick and distribute food parcels. W¢ receive donatio of fo(yJ and money from a wide range of sourr£s. We estimate that the value of the food we have given out is around £95,000. Page 3 of io
Soar Valley Outreach Annual Report 2022 Soar Valley Community Money Advice The provision of debt advice to those who need b¢lp through our 3 debt advisorn. During the period we started working with 29 new clients with total debts of £279.000. In addition we continued working with I I clients from previous years. Of these wple 19 completed a debt relief order, 9 ar¢ on repayment plaDS and I cleared their debts. conTinued to received nmding to employ the Financial cOh for 1.5 days per week. They have worked with around 35 people supporting them with efits advice. benefits forn. supplier queries, budgeting and other issues &8 they ar3¢. The r¢snSt from those who have Teceived the help has been very w)sitive. Other During the period we reIVed funding to provide quarterly gas/electri¢ top ups to support those struggling with their bills. We have alg) provided I sn] grant to help those in ne In December we received a grant from Leicestershire County Council to support Warni Hubs in Churches Mountsorrel, Quorn, Sileby and Rothley. These would be warnL welcoming and safe spaces for people to meeL especially those struggling to heat their homes. Flnance report The total income in the year wa5 £57.770 {2021: £46.921). We ore very grateful for the many indNiduals who support the work by both regular giving or one off donations. We are also grateful for the grants received from Mountsorrel Community Fund, Charnwood Borough Council, Leitestershire County Council Household Support Fund. Rotary Club of Loughborough and Seagrave War Memorial. The total expenses in the perlod were £48,485 covering salaries, food. equipment. client SUPPOrt. debt advice costs and insurarKe. That resulted in an unstrfCted surplus of £27.376 and a restrirted surplus of £12,230 thot was carried foThvard. Investment pollcy The Trustee5. having regard for the liquidity requirements of the tharity and to the reserves policv, have kept all available funds in a bank current account with instant acce5S to all funds at any time. ReseNes poliry The Trustees have established a reserves licy. and are satisfied that they have suffKient reserves at the Balance Sheet date131 December 20221. together with ongoin8 income anticipated. to enable the charity to function effectively in the comin8 year. The reseNes policy states that the charity aims to have sufficient unrestricted funds available to cover at least 3 months of operations. Any expenditure that would redu the reserves below this Page 4 of 10
Sojrvallry Outre•th Annual Report 2022 level. even tempoftrlty.ls subiert to agreemerrt from the Trustee5 together with an a8reed plan to address any defftrt. Total bank balanw at 31 December 2022 were £39.. Plans for the future The Charlty plans to continue the actIvTti outllrd above In the forthcomivear. Vlhen plannlng our attNities for 2023. the trustees have con&dered the Charity Commi5sM?n's guidance on public benefiL The trustees confirm that they have considefation to the majorrisks to which the charlty is exposed and that Systems have been deswed and established to mitigate tse risk5. Charty law requires the trustees of the charityto prepare ststements of account for eath financlal year which give a true and fair view of the State of affairs of the charlty and of its Incorning resources and application of resources forthat pernd. In preparinE those financial statements. the trusttrs are required to: Select suitable accounting pol#ies and appty them consistentl Makejudgements and estimates that are reasonable and prudent: Prepare the flnancial statements in accordance wlth the methods and principles set out in the Ststement of Recommended Practlce Accounting and Reporting by Charities and to state whether or not the accounts have been prepared In accordance wlth that Statement and applicable ac¢ourrting standards. Prepare the financlal statements on the going Conrn basls unless ft Is Inapproprtate to presume that the charity wryll contlnue in operation. The trustees are resnsible for keeping pmper accountlrvd records which are sufficient to show and explain the ch3rWs trnnsactlons and to disdose with reasonable accurdcv at any time the financial rKJsltlon of the charity, and to enable them to ensure that any statements of account cornpty with requirements of the Charities Act 2011. They are p)nsIble for uardlng the assets of the charlty and tsklng reasonable steps for the prerferrtlon and detection of fraud and other irre8ularitie Sl8ned ¢)n behalf of the trtee$ RevGraham Dunn 03110(2023 TIM Jackson Page 5 of 10
Soar Valley Outreach Annual Report 2022 INDEPENDENT EXAMINERS REpoKr TO THE TRUSTEES OF SOAR VALLEY oiJfREACH I report on the accounts for the year ended 31 December 2022, which are set out on pages 8 to 14. RopeCtI re5ponslbllitles of trustees and examlner The charlty's trustees are responsible for the preparation of the accounts. The char5tVs trustees Consider that an audit is not requlred for this year under settion 144 of the Charities Art 2011 (the Charltles Act) and that an independent examinatK*n is needed. It 15 my responsiblllty to: ' examlne the accounts under sertion 145 of the Charities Att. . follow the procedures lald down in the general Dirertions given by the Charfty Comm1551on (under sectlon 14515llbl of the Charities Act, and . state whether partlcular matters have come to my attentlon. Basls of Independent •xamlnerfs yert My examlnation was carried out in accordance with Beneral Dlrectlons 8lven by the Charlty Commission. An examlnatlon includes a revlew of the accountin8 records kept by the charity and a comparison of the accounts presented wlth those records. It also includes conslderatlon of any unusual items or disclosu in the accounts, and seeking explanations from the trustees concernlng any such matter5. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is 8Nen as to whether the accounts present a 'true and faiff vlew and the report is limited to those matters sel out in the statement below. Independent examlnees statement In Connection with my examination, no matter has come to my attentlon." lal which glves me reasonable cause to believe that in any material respect the requlrements: . to keep accountlng records in accordance with section 130 of the Charltles Act: . to prepare accounts which accord with the accountlng records and comply with the atcountln8 requlrements of the Charities Att have not been met,. or Ibl to which, in my opinion. attentM?n should be drawn In order to enable a proper understanding of the accounts to be reached. Page 6 of 10
Soar Valley Outreach Annual Report 2022 STATEMENT OF FINANaAL ACTIVITIES FOR THE PERIOD ENDED 31st DECEMBER 2022 Totsl 2022 Total 2021 Note General Restricted Incomlng resources Voluntary Income Donations Other income- Transfer from Rothley Baptist Church 27.410 30.360 57,770 27,918 I9.3 Total Incomlng resour¢es 27AIO 30360 57.770 46.921 Resources expended Charttable actNItS Charitable actlvrties 24,401 24.084 48,485 16.6LXI Total resour¢¢s expended 24AOI 24.084 48,485 16.6(Kl Net In¢0m1 resources forthe year 6276 9,285 30321 Reserves brought fopward at 315t December 2021 24.367 5,954 30,321 Reserves caryled forward at 3tst December 2022 27376 IZ230 39.606 30,321 Page 7 of 10
Soar Valley Ouireath Annual Reikn 2022 BAIANCE SHÉEr AS AT31st DECEMBER 2022 31 December 2022 31 December 2021 Note Current assets Cash at bank 39.606 30,321 30 Funds Unrestricted Restrlcted 27.376 12.230 24.367 5,954 30A21 aa Rev Graham Dunn Date 93110(2oLs rim Jackson Date 031iokb Page 8 of
Soar Valley Outreach Annual Report 2022 N¢)TES TO THE ACCOUNTS FOR THE PERIOD EAIDED31st DECEM8ER2022 A¢countln8 polldes 1.1 Basb of preparation The accounts have been prepared under the historical cost conventron. The accounts are prepared in accordance wlth the Accountlng Regulations set out under the Charitles Act 2011. and wtth the Charities Ststement of Recommended Prartlce 21XJ5. Z Donatlons Total 2022 Total 2021 General Restrlcted Donations from indNlduals Grants and donations from or8anlsatSons 24,860 14,466 24.860 31.650 11,029 16,889 30.360 T¢rtal 27AIO 30.360 57.770 27.918 3 Charltable xtlvltles Total 2022 Totsl 2021 Genernl Restrfcted Salary & Natlonal Insurance Food purchases Client support costs Debt advice costs Warm Hubs IT & equipment Premlses cost Insurance Other expenses 1,583 17,412 233 1,476 7,696 9,279 23.076 7,753 2,810 1,870 126 4,755 4,726 1,851 1,680 7.520 1.334 1,870 126 1,883 875 465 376 302 1.769 302 1,769 Total 24801 48A85 16,600 4 Employees and Try5tees The Charlty employs one part tlme Financial Coach. None of the Trustees eeNed ary remuneration during the period. Page 9 of 10