SIDMOUTH VOLUNTARY SERVICES Annual Report and Financial Statements For the year ended 31st December 2023 Registered Charity Number.. 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Contents Page Legal and administrative information Report of the Trustees Independent Examiners Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9-15 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Legal and administrative information ststus The Charity was registered with the Charity Commission on the I" May 1962. The Charity is governed by its Constitution dated 7, May 1998 35 amended 8 May 2002 and further amended on 12 June 2012. The Con5titutlOn Is currently undergoing a further review to better reflect the community we serve. Trustees Mr P Deegan Mr M Sycamore MrD Price Mrs F Newth MrA Drodge Mrs H Nelsori Mr Malcolm Williams (Appointed 24 Jan 231 (Appointed Vice-chair Aug 231 (Appointed 23 Feb 231 IResigned 23 lan 241 (Chairman (resigned as Chairjun 2311 (Treasurer) IAppointed Chaim)an AUE 231 (Resigned 20 Jun 231 Mr David Lloyd Independent Examlner lan Roper BAIHonsl FCA Chartered Accountant 37 Fore Street Sidmouth Devon EXIO 8DR Bankers CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 4JQ Page I Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Report of The Trustees The trustees present their report and financial statements for the year ended 31st December 2023. Objectives The principal objectives of the charity are to provide services and friendship for the elderly and disabled in the Sid Valley area, sUPPOrting people in their daily lives by promoting independence and social inclusion. stsff Structure The Trustee5 have appointed 3 Manager to manage the day-to-day running of the Charity. Specific trustees and staff form a management team who meet regularly. The Charity is supported by the following paid part-time staff Iweekly hours in brackets). Office.. Charity Manager120hrl, Secretary16hrl, Bookkeeper112hrl, Volunteer Coordinator15hrl Transport Oepartment: Transport ManaEer120hrl. Transport Coordinator12.75hrl Lunch Club: Kitchen Manager120hrl, Cook15hrl, 3 x Kitchen assistant/Cleaner115hr total Lettings and Premises: 2 x Wardens/Bookings125hr totall, Maintenance13hrsl. Volunteer5 Volunteers are crucial in delivering the services we provide. and we have over IQK) volunteers regularly donating their time in many different roles, including car drivèrs, minibus drivers, lunch club helpers, office volunteers and trustees. The management team and trustees would like to express their gratitude to all those who have given their time to keep our service5 alive. Public Beneflt The charity acknowledges its requirement to demonstrate that it has charitable aims and purposes that are for the public benefit. The trustees believe that the work of the Charity in supporting and enabling elderly and disabled persons in line with its objectives clearly demonstrates that our charitable aims are indeed for the benefit of the public and that the trustees have tomplied with Section 4 of the Charities Act 2006. Further. the Review of Activities demonstrates exactly how the trustees are complying wlth the Charity Commissioners guidance regarding public benefit. Our Activities Sidmouth Voluntary Services undertakes a numberof activities to meet its objectives and benefit the public: Lunch aub- Every weekday we offer a 3 course freshly prepared meal from our premises at Twyford House. A meal delivery setvice has been established providing a 3 course meal deliVed by our team of volunteers. Meal Delivery- Page 2 Re8lStered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Report of The Trustees (Cont) Our Artlvltles (Cont} Minibus TransPOrt- Our 3 minibuses provide a door-to-door accessible service, transporting people to our Lunch Club, the supermarket and on social outings that we organise. Our team of volunteer drivers are available to transport people to and from medical, and dental appointments donating their time and using their own vehicles with jLJSt fuel expenses being reimbursed. We rent out rooms to other community groups. Medical Car SeThice Lettlngs- By the end of the year and following the Coronavirus Pandemic the above services returned to pre- pandemic levels although we have continued to provide a meal delivery service to those unable to attend Twyford HoLJse in person. Achlevements and performance In 2023 and despf(e the limitations imposed during the Coronavirus pandemic we.. Prepared over 8.000 meals for delivery and in-house. Assisted over 160 clients getting to medical appointments lincluding vatcination centresl. Continued with a program of building improvements and maintenance. Our activities have made a difference to our beneficiaries and the wider society by.. Improving health and wellbeing by providing nutritious meals. Helping people maintain their independence by providing meals and transport to 5upermarkets' Enabling people to get to their medical appointments, providing a vital service for the NHS. Helping people to meet each other through all our activities. Providing an affordable venue for community groups to meet Providing volunteer opportunities in a number of diffent roles. Chairman's Report- 2023 Dear Friends of Twyford, colleagues and users of our buildin& 2023 has been a reasonable year for SVS and I have recorded some of the points of note below.. Trustee nev. Phil Deegan who had been our Chair retired to Poole in Dorset with his wife Francis. Phil will be missed and he will be a hard act to follow. I took over as Chairman in August 2023 and Malcolm Williams as Vice Chairman. David Lloyd joined our Trustees Board in 2023 but has since resi8ned. Tony Drodge retired from the SVS Board after supporting the charity for over 20 years. Tony was a volunteer minibus driver and helper as well as a Trustee. He provided advice and 8uidance on all matters relating to transw>rt and we will miss his enthusiasm and experience. Staff changes.. Our Manager, Carol Drover-Taylor, took exteniled time off for a number of months to care for her daughter and our part-time cook who worked on Fridays left. These roles were covered by existing team members and we also recruited two new kitchen helpers. Page 3 Re8lStered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Report of The Trustees Icont) Ch3irman's Report- 2023 {Cont) We have continued with our building maintenance programme and at long last we have replaced the old hot air system, by installing new hot water filled radiators. The gentleman's toilets were MOVed and this not only resolved an ongoing leak in the downstair5 cloakroom but enabled us to create a new storage area. General Information.. Over 5QX) clients have used SVS within the last 2 years and we have 160 Friends of Twyford. Becoming a Friend of Twyford enables clients to use our minibus service and receive an annual newsletter. There were 496 medical car journeys during 2023 and 247 Lunch buses to Twyford leach bus carrying approximately 8 clients). We served approximately 7(KJ meals/month and ran 192 shopping buses. Our Transport teèm arran8es regular social outings and hope5 to organize 2 per month in 2024. visiting places such as Bridport. Cadhay House and garden centres. The charity continues to recruit volunteers and has over 90 registered, some helping with one lunchtime shift every 6 weeks whilst others drive the minibus twite per week. Volunteer roles include medical car drivers, minibu5 drivers and helpers. lunch delivery drivers and kitchen helpers. An annual 'turry night, took place in 2023 to thank our volunteers for their Continued support. We received a generous legacy from Kathleen Sheldon's estate which greatly helped with the finances of managing SVS. Legacies are much appreciated as our overhead costs are considerab We plan to continue with our fundraising efforts in 2024. Derek Price Chalrman of Trustees ReseNes Pollcy The trustees have forecast the level of unrestricted reserve5 needed to sustain the charity's operations over period when its anticipated income generated from attivities may be temporarily curtailed. The trustees consider the most appropriate level of these reserves at 31st December 2023 would be £35.500. This represent5 sufficient reserves to meet the costs of the Charity for three months and would provide sufficient time to allow for an organised approach to the ongoing business of the Charity. At the 31st of December 2023 the Charity had rèserve5 of £1,236,85412022 £1,132,318). Flnanclal and Admlnlstratlve Rlsk Management The trustees seek to maintain a broad base of funding sources, includlng from servlces, donations and income from investments. By implementing effective cost control measures and ensuring the regular provision of management information an(J reportin& they aim to minimise financial risk to the charity in relation to its activities. Page 4 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Report of The Trustees {Cont) Responsibilities of the Board of Trustees The Trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordan with applicable law and regulations and United Kingdom Generally Accepted Accounting Practice. The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year. The financial statements are required by law to give a true and fair view of the charity's financial position at the end of the year and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to= select sultable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it 15 inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with 8$Onable ateuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charity and financial information included in the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. Approved by the Trustee5 on 2024 and slgned on thelr behalf by: Derèk Price ' Mlchael Sycamore Page 5 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Independent Examiner's Report to The Trustees of Sidmouth Voluntary Services This report on the accounts of Sidmouth Voluntary Services for the year ended 31st December 2023, which are set out on pages 7 to 15. Respettive responslbllltles of the Trustses and Examlner and b3515 of report. I report to the trustees on my examination of the accounts of the above charity for the year ended 31st December 2023. As the tharity'5 trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Act"). The Charity's trustees consider that an audit 15 not quired for this year under section 144121 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. it is my responsibility to.. examine the accounts under section 145 of the 2011 Act; to follow the procedures laid down in the General Directions given by the Charity Commission under Section 14515llbl of the 2011 Act.. and to state whether particular matters have come to my attention. Basis of Examination My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting record5 kept by the charity and comparison of the accounts presented with those records. It also includes consideration of any unusual items or disc105ures in the accountsand seeking explanationsfrom you as trustees concerning any such matters. The procedures ndertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given 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 Examinerfs Statement In the course of my examination, no matter has come to my attention.. l. Which gives me reasonable cause to believe that, in any material respect, the requirements.. to keep accounting records with Section 130 of the 2011 Act,. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met. Or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the counts to be reached. lan Roper BAIH nsl FCA lan Roper & Company Ltd Chartered Accountant 37 Fore Street Sidmouth Devon EXIO 8QA Dated /y Page 6 Registered Charity 2(078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 statement of Financial Actlvities Unrestricted funds Restricted Total this funds Total last year year Income and endowments from Donations and legacies Charitable activities Investment income Income from other tradin8 activities Other 178,235 90,527 18,714 1,078 178,235 90,527 18,714 1,078 92,818 86,006 12,387 1,857 Totsl 288,554 288,554 193,068 Expenditure on: Charitable activities Raising Funds Other 225,046 102 10,834 225,046 102 10,914 236,062 219,820 80 10,292 Totol resources expended 235,982 80 230,120 Net Income/{Expenditure) before gains/lLossesl on Investments 52,572 -80 52,492 -37,052 Other recognised galnslllossesl Gains and losses on investments 52,044 52,044 -63.586 Net movement Infvnds 104,616 -80 104,536 -l(J),638 Total funds brought forward Total funds carried forward 1,132,011 307 1.132,318 1,232,956 1.236.627 227 1.236.854 1,132,318 The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activities. Page 7 Registered Charity 2C6078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31 st December 2023 Balance Sheet as at 31 December 2023 2023 2022 Fixed assets Tangible assets Investments 239,271 883,809 1,123,080 251,348 823.623 1,074.971 Current assets Stock Debtors Cash at bank and in hand 376 17,791 102,654 376 11,184 56,470 Totclrurrent aets 120,821 68,030 Creditors: amounts falllng due within one year io 6,917 10.683 Net turnt osset5/(liabilities) 113.904 57,347 Net assets 1,236,984 1,132,318 Funds of the Charity Unrestricted funds Restricted funds 12 12 1,236,627 227 1,132,011 307 Totalfvnds 1,236,854 1,132,318 These flnanclal statements were approved by the Trustees on (5 - 2024. and signed on Its behalf by Derek Price Michael Sycamore Page 8 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Notes to the Accounts Accounting Policies The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 1.1 Basis of Preparation The financial Statements have been prepared on the basis of the historic c05t convention at cost or transaction value. except investments which show at fair value in accordance with: statement of Recommended Practice.. Accounting and Reporting by Charities IFR51021 and Update Bulletin I; And with the Financial Reporting Standard applicable in the United Kingdom and Republic of Irel3nd IFR51021 And with the Charities Act 2011 And with Accounting Standards IUK Generally Accepted Practi) as applied from l January 2016 Sidmouth Voluntary Services meets the definition of a public benefit entity under FRSIO2. Assets and liabilities are initially recognised at historical cost or transaction value unless Otherwise stated in the relevant accounting policy notelsl. 1.2 Fund Accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the Tru5tee5 have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charities work for specific projects undertaken by the charily. 1.3 Income Recognition of income These are included in the Statement of Financial Activities ISOFAI when: the charity becomes entitled to the resources,. the trustees are virtually certain they will receive the resources- and the monetèry value can be measured with suffitient reliability. Where incoming resources have related expenditure las with fundraising or contract income) the incoming rewurces an(1 related expenditure are reported gross in the SOFA. Grants and donations are only included in the SOFA when the charity has unconditional entltlement to the resources. Incoming resourtes trom tax reclaims are included in the SOFA at the same time as the gift to which they relate. This is only included in the SOFA once the related goo(Is or services have been delivered. Gifts in kind are accounted for at a reasonable estimate of their value to the tharity or the amount actually realised. Gifts in kind for sale or distrrbution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when reteivable. Incoming resources Wlth related expenditure Grants ond donotions Tax reclaims on donations and gifts Contractual income ond performonce reloted grunts Gifv in kind Page 9 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Notes to the Accounts (Cont} Accounting Policles {Contl Income (Contl Don(Jted seNices ondfocilitie5 These are only included in incoming resources Iwith an equivalent amount in resources expendedl where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resource5 15 the estimated value to the charity of the service or facility received. The value of any voluntary help received is not included in the accounts but Is described in the trustees, annual report. This is included in the accounts when receivable. This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. Volunteer help Investment income Investment gains Gnd losses Expendlture Liobility recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and c05t of any legal advice to trustees on governance or constitutional matters. Where the charity gives a grant with conditions for its payment being specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relatlng to the grant which remain in the control of the charity. Governonce costs Grants wlth performance condition5 Gronts puyoble without performance condition5 1.5 Tangible Fixed Assets Tangible fixed assets are stated at cost le55 accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected usefijl lrfe as follows.. Office Equipment Fixtures and fittings Minibuses Freehold property 200h straight line 15./0 Straight line 25°/ts reducing balance over 50 years No purchases under £250 are capitalised. Page 10 ReBistered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Notes to the Accounts (Cont) Accountlng Pollcles {Cont) 1.6 Tangible Fixed Assets Investments held as fixed asset5 are revalued at the balante sheet date and the gain or loss taken to the statement of financial activities. The funds with Wealthtime Trustees are valued as follows: Quoted investments are valued on a market value price basis Unit Trusts, Investment Bonds and Pension Bonds are valued on a bid price basis. 1.7 Stock Stock is valued at the lower of c05t of net realisable value. 1.8 Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognilh)n atsettlemenl amount after any trade discounts or amount advanced by the charity. Subsequently. they are ffleasured at the cash or other consideration expected lo be received. 1.9 Cash at Bank and In Hand Cash al bank and c8sh in hand includes cash and short term hyhly liquid investments with a short maturity of three months OT less from the dale of acquisition or opening of the deposit or similar account. 1.10 Credrtors and Provlsions Creditors and provisions are recL)gnised where the charty has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third paty and the amount due lo settle the obligation can be measured oreslimated reliably. Creditors and provisions are nomially recognised at their settlement amount after allowing ft)r any trade discounts due. 1.11 Value Added Tax IVATI The chaiity is not registered for VAT. Accordingly, all expenditure incILeS the relevant VAT. 1.12 Taxatlon As a charity Sidmouth Voluntary servIs is not liable lo tsxalion on its investment Income or any surplus arising from tts charitsble activit$ and so no provision is required in the financial statements. Page11 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31 st December 2023 Notes to the Accounts for the Year Ended 31 December 2023 (Cont) 2023 2022 Analysis of income Donations and Legacies Donations Legaties Grants 7,096 169,673 1,465 178,235 2,552 88,903 1.363 92,818 Charitable Activities Day Centre Transport Services 67,670 22,857 90,527 71,655 14,351 86,006 Investment income Wealthtime Trustees 16,517 2,197 12,322 65 Deposit Interest Bank Interest 18,714 12,387 Income from Other Trading Activities Fundraising Sponsorship Friends of Twyford 118 529 960 1,328 1,857 1,078 Other Income Other Income Analysis of expenditure Charitable Day Centre Activities activities Tran5POrt Services 168.751 56,295 225,IY16 167.835 51,171 219,006 Raising Funds Honoraria General administration 102 102 Other Expenditure Banking and investment Bad debts and interest Accountancy Fees Independent examination fees 8,871 583 480 9,129 263 900 10,834 10,292 Page 12 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2023 Notes to the Accounts for the Year Ended 31 December 2023 (Cont) 2023 2022 Employees Employment Costs Day Centre Activities Transport SeNices 93,995 16,968 110.963 96,048 13,773 109,821 No employee received emoluments of more than £60,00012022.'Nonel Numberofemployees The average monthly number of employees during the year, was as follows: Part time staff Relief staff 13 13 13 13 Trustees and administrators, emoluments No trustees were in receipt of fees during the year or to any person known to be connected with them. Mileage allowances are claimed in line with HMRC guidelines. Tangible F5Med assets Freehold- Land & Buildings Furniture Equipt Day Centre Office Equipt Ambulances Total Cost / Revaluation As at 1st January 2023 Additions Sale of Assets 224,509 4,440 76,422 11,518 799 124,476 6,070 436,925 11,309 At 31 December 2023 228,949 76,422 12,317 130,546 448,234 DepreciatlDn As at 1st january 2023 Released on Disposal Charge for year At 310ecember 2023 57,894 51,159 10,580 65,943 185.576 4,470 62,364 2,237 53,396 529 16,151 82,094 23.387 11,109 208.963 Net Book value At 31 December 2023 166.585 23.026 1.208 48,452 239,271 At 31 December 2022 166,615 25,263 939 58,533 251,348 The original cost of the building and land is not depreciated, only the additions. The original cost was £66607 and is deducted from the cost of £228949 before depreciation of 2% is calculated. Page 13 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31 st December 2022 Notes to the Accounts for the Year Ended 31 December 20231Cont) Flxed Asset Investments Llsted Investments Cash held as part of Wealthtime Investment Trustees portfolio Total Valuatlon at l January 2023 Additions/Withdrawls Net profit/-loss on revaluation at year end At 31 December 2023 811,383 5,117 12,239 3,026 823,622 8,143 52.044 52.044 868,544 15,265 883.809 Other unlisted investment5 comprises COIF Charities Investment Fund All fixed asset investments are held within the United Kingdom Oebtors Debtors Prepayments Other Debtors Accrued Income 2023 2,961 10,554 2022 1,928 4,694 4,276 4,562 17,791 11,184 10. Creditors . amounts falling due wlthln one year Trade Creditors Other Creditors Accruals Other Taxes and Social Security 2023 2022 414 1,800 1,899 2,804 6,917 1.788 3,600 1,922 3,373 10,683 11. Analysis of net assets Fund balances at 31st December 2023 as represented by.. Tangible Fixed Assets Investment Assets Current Assets Current Liabilities Total Funds 2023 239,271 883,809 120,821 -6,917 1,236,984 2022 251,348 823,623 68,030 -10.683 1,132,318 At 31st December 2023 Page 14 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31 st December 2023 Notes to the Accounts for the Year Ended 31 December 2023 (Cont) 12. Movements of majorfunds Fund balances brought forward Fund balances carried fonyard Gains and Losses Fund names Income Expendlture Transfers Restrirted Funds 307 227 Unrestrlrted Funds General Reserve 1,132,011 288,554 -235,982 52,044 1,236,627 Total Funds 1.132.318 288,554 -236,062 52,044 1,236,854 13. Other Flnancial Commitments Capital Commitments At 31st December 2023 the charity no outstanding capital commitments.12022.. £ nill. Page 15 Registered Charity 206078