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2023-03-31-accounts

WIRRAL CVS

INDEPENDENTLY EXAMINED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 2023

Charity Number: 1196584

The Community Village, 330-334 New Chester Road, Wirral, CH42 1LE

WIRRAL CVS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES

Jay Anderson, Chair until 6[th] March 2023 Brian Simpson, Chair (Appointed 6[th] March 2023) Beverley Morgan Justine Molyneux Sandra Gilbert Sabra Ahmed (Appointed 6[th] March 2023)

REGISTERED OFFICE

The Community Village 330-334 New Chester Road, Wirral, CH42 1LE

CHARITY NUMBER

1196584

BANKERS

The Co-operative Bank

INDEPENDENT EXAMINER

Matthew Brown, CPFA Adding Value Consultancy Ltd Bluecoat Chambers School Lane Liverpool L1 3BX

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WIRRAL CVS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

CONTENTS

Page
Report of the Trustees 3-13
Independent Examiner's Statement 14
Statement of Financial Activities 15
Balance Sheet 16
Notes to the Accounts 17-21

17-21

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WIRRAL CVS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

CHAIRS’ STATEMENT

As Independent Chair of Wirral Council for Voluntary Service (WCVS), may I welcome you to our Annual Report and Accounts for the year 2022/2023.

I joined WCVS as Chair toward the end of this financial year. In my previous career working in the social housing sector, I have seen the great work that goes on in our neighbourhoods by the many community and voluntary groups who are helping people with wide ranging needs. This was most clearly seen by the sector’s response to the Covid-19 pandemic from March 2020 to December 2021. The sector was a key part of the partnership formed by the various statutory bodies in Wirral to ensure the vulnerable and those in need were being safeguarded during the pandemic.

Whilst there was a very healthy voluntary, community, faith and social enterprise sector working on the ground, Wirral was one of a very few areas where there was no overarching community infrastructure organisation who are there to strengthen and support voluntary groups across the sector in their area. With support from a range of partners, particularly colleagues in Public Health, the founding trustees have worked hard to set up WCVS as a newly registered community and voluntary sector infrastructure organisation for Wirral.

The year 2022/2023 has seen the founding trustees getting all the essential requirements in place to be a fully functioning infrastructure organisation and gearing up to be fully operational in 2023/24. I would like to take the opportunity to thank the founding trustees together with Karen Livesey, Independent VCFSE Facilitator, in getting Wirral CVS to where we are today.

As Wirral CVS, we are committed to helping those most in need. I believe we are an organisation which is well placed to improve the lives of people through influencing and advocacy, and through the services and programmes we and our network provide on the ground.

I am pleased to welcome you to this, our first Annual Report and Accounts

Best wishes,

Brian Brian Simpson

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WIRRAL CVS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES' REPORT

The trustees present their report and accounts for the year ended 31 March 2023 for Wirral CVS.

PRINCIPAL ACTIVITIES

To promote any charitable purposes for the benefit of the public, principally but not exclusively in the local government area of Wirral and the surrounding area and, in particular, to build the capacity of third sector organisations and provide them with the necessary support, information and services to enable them to pursue or contribute to any charitable purpose.

To promote, organise and facilitate co-operation and partnership working between third sector, statutory and other relevant bodies in the achievement of the above purposes within the area of benefit.

BACKGROUND

‘Local infrastructure organisations help make places be

somewhere anyone would want to live, work and visit.’

(NAVCA, 2020)

Wirral CVS is a charitable incorporated organisation (CIO), established in 2021 by and for Wirral’s Voluntary, Community, Faith and Social Enterprise Sector (VCFSE). Any VCFSE organisation in Wirral can become a member, at no cost, and help shape and drive what the organisation does. The Board of Trustees come from the membership and are elected by members to take responsibility for delivering the sector led strategy.

Wirral CVS was set up by and for everyone across Wirral’s VCFSE sector. Our collective response to the Covid-19 pandemic helped to shape the co-production of our Coming Together Strategy, a sector-led plan that will inform the future way in which all parts of our sector contribute to and add value to life in Wirral.

Wirral is an incredible place with a wealth of assets across and within our communities. Sadly, however, we know only too well of the extreme health inequalities that still exist within our Borough, making the work of our VCFSE colleagues even more essential than ever before.

As our sector moved from navigating its way out of the impact of Covid-19 and into the costof-living crisis, it was critical that we were able to support groups and organisations to not just survive but thrive. As newly-emerging health structures further embed, the opportunities

for our sector to play a front and centre role in shaping the way in services are developed and delivered in the future will be significant.

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TRUSTEES' REPORT

The founding Trustees are committed to standing down and seeking an elected board of Trustees once the core staffing team is in place, in order to lead the mobilisation and delivery of the Coming Together Plan and to grow and nurture a vibrant and innovative organisation. To start this process, founding Trustees elected an Independent Chair to the organisation in March 2023.

Continual engagement and identification of new organisations/members is critical to the organisation staying relevant and connected to those it serves.

Wirral CVS has been accredited for infrastructure by NAVCA (National Association for Voluntary and Community Action).

VISION, MISSION AND VALUES

Vision

A strong, vibrant and resilient Voluntary, Community, Faith and Social Enterprise sector that leads positive and impactful changes in Wirral.

Mission

To be an organisation designed, developed and grown by its members to support the Voluntary, Community, Faith and Social Enterprise sector in Wirral and surrounding area

.

Values

PUBLIC BENEFIT STATEMENT

In considering the objectives and activities, the Trustees have considered Charity Commission guidance on public benefit to ensure that the organisation is meeting its public benefit requirements.

ORGANISATION AND LEGAL STATUS

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The charity is a company limited by guarantee and registered as a Charity. The charitable company is controlled by its governing document, memorandum of articles incorporated on 15th November 2021

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TRUSTEES' REPORT

TRUSTEES AND THEIR APPOINTMENT AND TRAINING

Whilst the membership process is developing, the charity’s trustees are the voting members of the organisation and form the Board of Trustees.

The Trustees embarked upon a structured process during the year to recruit a number of new Trustees to be recommended to the Board for appointment. At the first Annual General Meeting, the founders will resign and Trustees will be elected to serve for a three-year. One third of the number retiring and being eligible for reelection each subsequent year.

New Trustees are supported through an induction process, which includes a presentation, planned visits to each department of the organisation, plus written material giving additional background information and outlining their responsibilities as a Trustee.

The Board of Trustees is responsible for the overall governance and direction of the charity, in the future, day-to-day operational management will be delegated to the Chief Executive.

The Trustees meet a minimum of six times a year; this includes a Forward Planning Day to review the organisation’s strategy and performance and to set operating plans and budgets, plus a half-year review day to monitor progress of these plans – during the course of this year this format was stepped down due to the Covid-19 pandemic.

No director / Trustee has any beneficial interest in the Company. The subscribing members of the Company have no liability in the event of its winding up.

ACHIEVEMENTS AND PERFORMANCE DURING THE YEAR

Following the registration of Wirral CVS in November 2021, this year was spent working on some of the infrastructure required for the new organisation, in terms of policies and procedures, opening of a bank account and development of strategic plans. Key achievement were:

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TRUSTEES' REPORT

During the year, a key areas of Trustees’ focus was on the co-production of a Business Case for public sector investment in an infrastructure contract for Wirral. We worked closely with colleagues from Wirral’s Public Health Team to build proposals for an infrastructure contract that further embedded the principles and objectives of the Coming Together Plan. Trustees were delighted at the end of the financial year to be advised that Wirral CVS was being commissioned for an initial 12 month period to deliver infrastructure support to the VCFSE sector. As the year closed, Trustees were delighted to be able to launch a recruitment exercise for the inaugural Chief Executive for the organisation.

FUTURE PLANS

During the year ahead, we look forward to welcoming our new Chief Executive and supporting them in the recruitment of the rest of the staff team. Through active engagement and collaboration with all parts of the sector, Wirral CVS will:

1. Support small groups to grow

Small groups often require capacity building support in several key areas to help them achieve their goals more effectively and sustainably.

Outcome - we will provide tailored capacity building support to help small groups to develop the skills, knowledge, and resources they need to operate effectively, increase their impact, and become more sustainable over the long term.

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TRUSTEES' REPORT

Delivery programme will include:

Impacts in Year One

2. Supporting neighbourhood working

Voluntary, Community, Faith and Social Enterprise organisations (VCFSE) play an important role in neighbourhood development by providing a range of services and support to local communities. VCFSE organisations can offer vital resources and expertise that can help to build social capital, foster community cohesion and address a wide range of social, economic, and environmental issues.

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TRUSTEES' REPORT

The VCFSE sector can support neighbourhood development in various ways, including providing advocacy and representation, delivering community services and activities, facilitating community engagement and participation, and mobilising resources and volunteers. By working closely with local residents, businesses, and government agencies, VCFSE organisations can help to create more vibrant and resilient neighbourhoods that are better equipped to address the challenges and opportunities of the 21st century.

Outcome – Wirral CVS will support strong VCFSE leadership across the emerging neighbourhood structures

Delivery programme will include:

Impacts in Year One

3. Delivery of the Health and Wellbeing Strategy - Priority 5 ‘Create a culture of health and wellbeing, listening to residents and working together’.

Creating a culture of health and wellbeing requires a collaborative, community-led approach that listens to residents, builds partnerships, and promotes healthy behaviours and social connections. By working together, communities can create environments that support health and wellbeing and promote a sense of belonging and collective responsibility.

Outcome - Wirral CVS will lead on priority 5 of the Health and Wellbeing Strategy through direct action, engagement and coordination of wider system efforts.

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TRUSTEES' REPORT

Creating a culture of health and wellbeing that listens to residents and works together requires a multi-pronged approach. This will link directly to the neighbourhood work.

Delivery programme will include:

Impacts in Year One

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4. Volunteering and Community Development

Community development can be impactful by empowering individuals and groups to take collective action to address social, economic, and environmental challenges in their communities. Here are some ways in which community development can have a positive impact:

Overall, community development can be impactful by empowering communities to take control of their own destiny and work together to create positive social, economic, and environmental change. By building social capital, improving health and wellbeing, encouraging economic development, strengthening civic engagement, and creating sustainable environments, community development can create more resilient, equitable, and sustainable communities.

Impacts in Year One

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TRUSTEES' REPORT

GOING CONCERN

The financial statements have been prepared on a going concern basis. The trustees have considered the level of funds held and the expected level of income and expenditure for the twelve months from authorising these financial statements. The trustees assess the charity to be a going concern based on review of financial performance of the current year to date, the management accounts forecast for the remainder of the financial year, and longer-term plans and forecasts for 2023/24 and beyond. As a result, the trustees are satisfied that these accounts can be prepared on a going concern basis.

RISK MANAGEMENT

The Trustees have a formal risk management process to assess business risks and implement risk management strategies. This involves identifying the types of risks the charity faces, prioritising them in terms of potential impact and likelihood of occurrence, and identifying means of mitigating the risks. As part of this process, the trustees review the adequacy of the charity’s current internal controls.

The Trustees are committed to adopting the Charity Good Governance Code (Small Charities) and intend to have completed the self-assessment against the Code during the coming 12 months.

FINANCIAL REVIEW

Incoming resources for the year totalled £29,564. Total expenditure in the year was £25,645, leaving a surplus for the year of £3,919. At 31 March 2023, the charitable company’s reserves were £3,919.

RESERVES POLICY

The charity has zero reserves at this time due to delivering very limited activity, not employing staff and having no premises. However, a reserves policy will be developed in the coming financial year that will meet the future needs of the charity.

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STATEMENT OF TRUSTEES’ RESPONSIBILITES

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the Trustees should follow best practice and:

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

APPROVAL

This report has been prepared in accordance with the Charities Act 2011, Companies Act 2006, Accounting and Reporting by Charities; Statement of Recommended Practice (SORP 2015) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1[st] January 2015).

This report was approved by the Board of Trustees on 20[th] December 2023 and signed on their behalf:

Brian Simpson Chair of Trustees

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INDEPENDENT EXAMINER'S STATEMENT

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

I report to the trustees on our examination of the accounts for the year ended 31 March 2023.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). The trustees consider that an audit is not required for this year under section 144(2) of the Act and that an independent examination is needed.

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the 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 2008 other than any requirement that the accounts give a ‘true and fair 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.

Matthew Brown, CPFA Adding Value Consultancy Ltd Accountants and Financial Management Consultants Date: 20[th] December 2023

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STATEMENT OF FINANCIAL ACTIVITIES

The Statement of Financial Activities includes all gains and losses recognised during the year. All income and expenditure relate to continuing operations.

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BALANCE SHEET AS AT 31 MARCH 2023

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

Approved by the board of trustees on 20[th] December 2023 and signed on their behalf:

Brian Simpson Trustee

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NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

1a. Basis of Accounting

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (SORP 2015) (effective 1[st] January 2015) and the Charities Act 2011.

The accounts are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

1b. Fund accounting

Unrestricted funds are the charitable company’s free reserves available for the Trustees to apply in accordance with the charitable company’s charitable objectives.

Restricted funds are subject to specific restrictive conditions imposed by the donor. All restricted funds are accounted for as restricted income and expenditure for the purposes is charged to the fund.

1c. Income recognition

All income is recognised once the charitable company has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Donations and legacies comprise of donations and general grants which are recognised in the accounts when received, with the exception of known legacies which are accounted for when their receipt is certain.

Other trading income relates to all fundraising events and is recognised when the amounts are certain.

1d. Expenditure recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably.

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NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES (continued)

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activities. Support and governance costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor.

Expenditure on charitable activities relate to the operation of the charitable company comprising of direct charitable expenditure to meet the objectives of the charitable company. Support and governance costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charitable company.

1e. Tangible fixed assets

Tangible fixed assets are stated in the balance sheet as cost or revaluation less accumulated depreciation. Capital expenditure of £100 and above is treated as a fixed asset. Depreciation is provided to write off the cost of each asset over its expected useful life as below:

Improvements to property 25% per annum straight line basis Plant and machinery 25% per annum straight line basis

1f. Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1g. Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1h. Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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1j. Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1k. Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

1l. Taxation

Income and gains are exempt from taxation as they are received and applied for charitable purposes only. The charitable company benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions.

1m. Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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WIRRAL CVS ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

NOTES TO THE ACCOUNTS

2. INCOME FROM CHARITABLE ACTIVITIES

3. OTHER INCOME

4. EXPENDITURE ON RAISING FUNDS

4. EXPENDITURE ON CHARITABLE ACTIVITIES

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5. DEBTORS

6. CREDITORS

7. TRUSTEES REMUNERATION AND BENEFITS

No Trustees were remunerated during the year. No Trustees expenses were paid in the year to cover expenses.

8. RELATED PARTY TRANSACTIONS

There were no other related party transactions during the year which require disclosure.

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