Soar Valley Outreach
Annual Report 2023

Soar Valley Outrexh
Annual Report 2023
Soar Valley Outreach
Statutt>ry Infom)atlon
Reglstered AddTe5S
4 Meadow Road,
Mountsorrel,
Leics
LE12 7HN
Trustees
inte
Appointed 30 September 2020
Appointed 30 September 2020
Appointed 30 September 2020
Appointed 11 March 2021
Mr Tim Jackson
Mrs Janet Jackson
Rev Graham Dunn
Mr Ken Arkley
8ankers
Natwest
Independent Ex¥mlDer
Ask Accountancv
Rothley Road,
Mountsorrel
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Soar Valley Outreach
Annual Report 2023
Contents
Trustees Report
Independent Examinerfs Report
Statement of Financial Attivitie5
Balance Sheet
Notes to the Accounts
8-10
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Soar Valley Outreach
Annual Report 2023
Trustees Report
The trustees P￿sent their annual report and financial ststements for the year to 31st December
2023.
Charltable object
The Charity Incorporated Organisation ICIOI is governed by a Foundation Constitution approved on
30th September 2020. This states that the purpose of the CIO is"For the public benefit. the
alleviation of poverty in Leicestershire through provision of a range of services including but not
limited to food provision. personal support and debt advice."
The main actNities of the charity are the development of church based social and community action
especially in the field of Food Projects providing food parcels and personal support. Also the
provision of completely free face to fa￿ money advice to those in debt and budgeting and benefits
advice.
In planning the activities of the CIO the Trustees have considered the Charity commission's
guidance on public benefrt.
Organisation structtire and declsion making process
Soar Valley Outreach is overseen by the Trustees who met regulady during the year.
All trustees keep the composition of the board under review and will seek to appoint additional
member5 With appropriate skills and expertise should the need arise. The trustee board aims to have
a broad representation 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. Generallv.
trustees will have a knowledge of the sector, or a specific skill set, and need to be a Christian.
Inte￿sted parties are given details of the background of the charity in order to make them aware of
urrent actiVTties.
Objertives and actl¥itle5
In order to achieve the Purpose the CIO provides a range of services.
Soar Valley Communlty Food Projert
The provision of f￿d parcels to those in n¢ed across the villages between Leicester and
LA)ughborough through a network of 8 eentres. During the year we Provided 3,803 food
parcels to families througb centres in Roth1￿, Birstall, mounts0￿e], Barrow, Sileby, Syston,
Thunn&ston and Anstey. This was a 241J/o increas¢ on last year. As well as PToviding the food
parcels ￿ch centre ¢ncouTages those being supported to have a chat over a hot drink to
understand how ¢ls¢ we can help than. This includes sign POStiDg to other services that are
available.
We have a team of18 volunteers who sort and check the food, store IL pick and distribute
food parcels. We receive donations of food and money from a wide Tange of sources. We
estimate that the value of the food we have given out is around £145,(KM).
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Soar Valley Outreach
Annual Report 2023
Soar Valley Community Money Ad￿ce
The provision of debt advice to those who need help thTougb our 3 debt advisors. During the
period we started working with 15 new clicnts with total debts of £234,000. kn addltion we
continued working with 15 clients from previous years. Of these people I I completed a debt
relief order, 13 are on rq)ayment plans and 6 are working towards a solution.
We continued to received fvnding to employ the Financial Coach for 3 days per weeK last
year 1.5 days. They have worked with around 35 people supporting them with benefits
advice, benefits forn]s. supplier qu￿1¢8, budgeting and other issues as they arose. The
response from those who have received the hdp h&$ been very positive.
Other
During the period we received funding to provide quarterly 8aslelectric top ups to support
those struggling with their bills.
Jn December 2022 we received a grant from Leicestershire County Council to suprrt)rt Wann
Hubs in Churches Mountsorrel, Quorn, Sileby and Rothley. These would be warm.
welcoming and safe spaces for people to meeL ￿eciallY those struggling to heat their
hom¢s. The period coveral by the grant bas been extended to March 2024.
Finance report
The total income in the year was £62,763 {2022: £57.7701.
We are 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. Leicestershire County Council Household Support Fund and Rotary
Club of Loughborough.
The total expenses in the period were £62.399 covering salaries. food, equipment. client support,
debt advice costs and insurance.
That resulted in an unrestricted surplus of £27.968 and a restricted surplus of £12,W3 that was
carried forward.
Inve5tmeDt policy
The Trustees, having regard for the liquidity requirements of the charity and to the re5eryes policy,
have kept all available funds in a bank current account with instant access to all funds at any time.
Reser¥es policy
The Trustees have estsblished a reserves poly. and are satisfied that they have sufficient reserves
at the Balance Sheet date {31 December 2023}, together with ongoing income ant￿ipated, to enable
the charity io fUn¢t￿n effective￿ in the coming year.
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Soar Valley Outreach
Annual Report 2023
The reserve5 policy states that the charity aims to have sufficient unrestrided funds available to
cover at least 3 months of operations. Any expenditure that would reduce the reserves below this
level, even tempornrlly, is Subject to agreement from the Trustees together with an agreed plan to
address any deficit. Total bank balances at 31 December 2023 were £39,971.
Plans forthe fvture
The Charity plans to continue the attlvTties outlined above in the forthcoming year.
When planning our activities for 2024. the trustees have conS￿ered the Charity Commission's
guidance on public benefii.
ststement of rfsks
The trustees confirm that they have gNen consideration to the major risks to which the charity IS
exposed and that Systems have been designed and established to mitigate those risks.
Trustee responsibllities lor the financlal statements
Charity law requires the trustees of the charity to prepare ststements of account for each financial
year which give a true ar￿ fair view of the state of affairs of the charity and of its incoming resources
and application of resources for that period. In preparing those financial statements, the trustees are
required to..
Select suitable accounting policies and apply them consistentty:
Make judgements and estimates that are reasonable and prudent.
Prepare the financial statements in accordance with the methods and principles set out in
the Statement of Recommended Practice Accounting and Reporting by Charities and to slate
whether or not the accounts have been prepared in accordan￿ with that statement and
applicable accounting standards-
Prepare the financial statements on the going toncern basis unless it is inappropriate to
presume that the charity will continue in operation.
The trustee5 are responsible for keeping proper accountin£ records which are suffitient to Show and
explain the charivs transactions and to disclose with reasonable accurary at any time the financial
Position of the charity, and to enable them to ensure that any statements of account comply with
the requirements of the Charities Act 2011. They are also responsible for safeguarding the assets of
the charity and taking reasonable steps for the prevention and detection of fraud and other
irregularities.
Signed on behalf of the trustees
Rev Graham Dunn
2024
Tim Jackson
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r Valley Outreach
Annual Report 20Z3
INDEPENDENT EXAMINERS REPORT
TO THE TRUSTEES OF SOAR VALLEY OUTREACH
I report on the accounts for the year ended 31 December 2023, whlch a￿ set out on pages 8 to
14.
Respertlve responslbllftles of trustees and eyamlner
The charlty's trustees are responsible for the preparation of the account5. The charfvs trustee5
consider that an audit is not required for this year under settion 144 of the Charities Act 2011
(the Charities Act) and that an Independent examinatlon is needed. It is my responsibility to-
. examine the accounts under sertion 145 of the Charities Att,
- follow the procedures lald down in the general Diredion5 glven by the Charity Commlssion
(under section 145ISI{bl of the Charities Act. and
. state whether particular matters have come to my attention.
Basls of Independent examlnerfs report
My examlnatlon was carrled out in accordance with general Directions given by the Charity
Commlssion. An exarnination includes a review of the accounting records kept by the charlty and
a comparison of the accounts presented with those records. It also includes conslderatlon of anv
unusual Items or dlsclosures in the accounts. and seeking explanatlons from the trustees
concernlng any such matters. The procedures undertaken do not prowde all the evidence that
would be requlred in an audit. and consequently no opinion is given as io whether the accounts
present a 'true and falr" view and the report is limlted to those matter5 set out In the ststement
below.
Independent examiner's Statement
In connection with my examination. no Matter has come to my attention-.
lal which give5 me reasonable cause to believe that in any material respect the requirements..
to keep accounting records in accordance with section 130 of the Charities Act;
. to prepare accounts which accord with the accounting records and compty with the accounting
requirements of the Charlties Act have not been met. or
Ib) to which, in my opinion, attenlion should be drawn in order to enable a proper
understandlng of the account5 to be reached.
Ask Accountancy Limi
Dated: 10 July 2024
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Soar Valley Outreach
Annual Report 2023
STATEMENT OF FINANCIAL AcfiviTIE5
FOR THE PERIOD ENDED 3tst DECEMBER Z023
Total
2023
Total
2022
Note
General
Re5trirted
Incoming resources
Voluntary income
29.373
33.390
62,763
57,770
Donations
33,390
62,763
57,770
Totsl Incomlng resourte5
29.373
Resources expended
Charitable actwities
33,617
62,398
48,485
Charitsble artivities
28,781
48,485
Totsl resourtrs expended
28.781
33,617
62,399
365
9,285
Net incoming resources for the year
592
(227)
Reserves brought fo￿rd at 31st December 2022
27,376
12,230
39,606
30,321
Reserves carrfed fon¥ard * 3tst December 2023
27,
39,971
39,606
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Soar Valley Outreath
Annual Report 2023
BALANCE SHEEr
AS AT 31st DECEMBER 2023
310ecember
2023
31 December
2022
Note
Current assets
Cash at bank
39,971
39,606
39,971
39,606
Funds
27,968
12,003
27,376
12,230
Unrestricted
Restrided
39.971
39,606
Rev Graham Dunn
Date
rim Jackson
Date
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Soar Valley Outrexh
Annuèl Report 2023
NOTES TO THE ACCOUNTS
FOR THE PERIOD ENDED 31st DKEMBER 2023
A￿ountIng policies
1.1 Basis of preparntson
The accounts have been prepared under the h￿rical cost convention.
The accounts are prepared in accordance with the Accounting Regulation5 set out under the Charities
Act 2011, and WTth the Charities Statement of Recommended Prattice 2CQ5.
Total
2023
Total
2022
Z Donatlons
General
Restricted
Donations from individuals
Grants and donations from organisations
23.815
5.558
23.815
38,948
24,860
31,650
33.390
29373
33,390
62.763
57,770
Total
Total
2023
Total
2022
3 Charitable actfviiles
General
Restricted
697
24,876
11,278
6,720
10,048
1,230
3.620
11,975
31,597
7,753
2,190
3.620
35
1,51X)
391
9,279
23,076
7,753
2,810
1,870
126
Salary & National Insurance
Food purchases
Client support Costs
Debt advice costs
Warm Hubs
IT & equipment
Premises cost
Insurance
Other expenses
960
35
391
323
302
1,769
721
33.617
62.399
48,485
T¢rtal
28,782
4 Employee5 and Trustees
The Charity employs one part time Financial Coach.
None of the Trustees re￿Ned any remuneration during the per￿.
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Soar Valley Outreach
Annual Report 2023
Total
2023
Total
2022
5 Summary of reserves held
General
Restricted
27,376
264
General reserye
Client support
Financial Coach
LCC Covid support
Warm Hubs
DRO Support
27,968
27,968
264
264
3,E￿6
6,623
1.510
6,623
1,510
3.791
5,130
45
27.968
12,003
39.971
39,606
Client support- covers funds received to support specific clients
Financial coach- covers a specific grant received to cover the costs of the Financial Coach
LCC Covid support- covers funds re￿Ned to provide gaslelectric top ups and extra food
Warm Hub- covers funds received to provide warm spaces in Churches
DRO Support- covers fees received to pay clients debt relief order fees.
6 Penslons
The Charity is an employer participating in a pension scheme known as the Nest Pension Scheme
1.the Scheme"). The cost in the year was £19512022 nill-
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