SIDMOUTH VOLUNTARY SERVICES Annual Report and Financial Statements For the year ended 31st December 2024 Reglstered Charlty Number.. 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2024 Contents Page Legal and administrative information Report of the Trustees Independent Examiners Report Statement of Financial Arttvities Balance Sheet Notes to the Financial Statements 9-15 Registered Charity 206078
SIDMOUTh VOLUNTARY SERVICES For the Year Ended 31st December 2024 Legal and administrative information ststus The Charlty was registered with the Charity Commission on the I" May 1962. The Charity is governed by its Constitution dated lh May 1998 as amended 8 May 2C02 and further amended on 12 June 2012. The Constitution is currerbtly undergoing a further review to better reflert the communlty we See. Trustees Mr D Price (Appointed Chairnian Aug 23) Mr Malcolm Wllllams (Appolnted 24 Jan 231 (Apposnted Vice<hair Ayg 231 (Treasurer, l Dec 2015) IAppointed 5 May 21x141 (Appointed 25 Feb 2020) (Appointed 23 Feb 20231 (Resigned 23 Jan 20241 (Appointed 16 Apr 20241 Mr M Sycamore Mrs F Newth Mrs H Nelson Mr David Uoyd Mr David Wheaton Independent Examiner lan Roper BAIHonsl FC4 Chartered Accountant 37 Fore Street Sldmouth Devon EX108DR Banke CAF Bank knmited 25 Kings Hill Avenue West Malling Kent ME194JQ Page I Re8lStered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2024 Report of The Trustees The trustee5 present thelr report and flnancial statements for the year ended 31st December 2024. Oblectlves The principal objectives of the charity are to provide service5 and friendship for the elderly and disabled in the Sid Valley area, supporting people In thelr dally Ilves by promoting independence and social inclusion. Staff Strurtu The Trustees have appointed a Manager to manage the day-to-day running of the Charlty. Spetifit trustee5 and staff form a management team who meet regularly. The Charlty Is supported by the following paid part-time staff (weekly hours in brackets). Office.. Charity Manager120hrl, Secretary16hrl, Bookkeeper112hrl, Volunteer Coordinator15hrl Transport DepartmÈnt: Transport Manager120hrl, Transport Coordinator12.75hrl Lunch Club: Kitchen Mana8er120hrl, Cook1Shrl, 3 x Kitchen assistant/Cleaner115hr total Lettlngs and Prem15. 2 x Wardens/Booklngs125hr totall. Malntenance lad-hocl. Volunteers Volunteers a Crucial in delivering the services we provide, and we have over volunteers regularly (lonating their time in many different roles. including car driver5, minibus drivers and helpers, lunch club helpers, offtce volunteers and trustees. The management team and trustees would like to express their gratitude to all those who have 8iven their time to keep our seryices alive. Publlt Benefft The charity acknowledges its requirement to demonstrate that it has charitable aims and purpose5 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 clearty demonstrates that our charitable aims are indeed for the benefit of the public and that the trustee5 have complied with Sertion 4 of the Charities Act 2006. Further, the Review of Activitie5 demonstrates exactly how the trustèes are complying with the Chartty Commissioners guidance regarding public benefit. Our Activltles Sidmouth Voluntary SeNices undertakes a numberof activitiesto meet itsobjeetives and benefit the public: Lunch aub- Every weekday wè offer a 3 course freshty prepared meal from our premises at Twyford House. A meal delivery setvice has been established providing a 3 course meal delivered by our team of volunteer5. Meal Dell¥¢ry- Page 2 Registered Charity 2CI5078
SIDMOUTh VOLUNTARY SERVICES For the Year Ended 31st December 2024 Report of The Trustees (Cont) OurActlvities (Cont) Minibus Transport- Our 3 minibuses provide a door-to-door accesslble seNlte, transporting people to our Lunch Club, the supermarket and on social outirEs that we organi5e. Our team of volunteer drivers are available to transport people to and from medical, and dental appolntments donating their tlme and using thelr own vehicles wlth just fuel expenses being reimbursed. We fit out rooms to other community groups. Medl¢al Car SeNice Letting5- Achlevernents and perfom)ance In 2024 we: Prepared over 7,700 mea15 for delNery and in-house. Made over 5Q) journeys assistlng clients getting to medical appointments. Continued with a programme of building improvements and maintenance. Our actNities 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 supermarkets. Enablin8 people to get to their medical appointments. providing a vital SeiCe for the NHS. Helping people to meet each other through all our activities. Provldlng an affordable venue for community group5 to meet Providing volunteer opportunlties In 3 number of dlfferent role5. Chairrnan's Report- 2024 Dear Friends of Twyford, colleagues. and users of our buildin& In 2024, Sid Valley Services ISVSI continued to provide invaluable services to the Sid Valley communtty. solidifying tts reputation as a lunch club, meal delivery seNice, and community tran5POrt provider. The SVS team underwent some changes thls year. David Lloyd resigned as a Trustee, at)d we welcomed David Wheaton, a local solicitor, to the Board. His expertise has proven immensely beneficial, and we appreciate his involvement. In our kitchen team. a role change led to the appointment of a new chef for Mondays and an additional team member to assist with washing up on Fridays. OLtr dedicated volunteers are the backbone of our organlzatlon, ensuring that our trdn5POrt services run smoothly and our lunch serylce operates efficlentty. To express our gratitude. we hosted a curry night. where our kltchen team prepad a dellclous meal for our volunteers. We continue to support our employees and volunteers through a comprehensive training programme that covers Safe Assist, MIDAS. Flrst Aid. and dementia awareness. Page 3 Re8lStered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2024 Report of The Trustees {Cont) Our maintenance programme Is ongoing, with the addition of new chairs for the lounge area and a new carpet in the upstairs offices. The local Memory Cafe, which uses Twyford House, contributed ioward5 a TV for the lounge area. We ensure the building is well-maintained throu8h reBular inspertions by gas and electrical contractors and in-house maintenance. Future plans include updating our signage. With the help of Cosmlc in Honlton, we migrated our IT system, Cated new email addresses. and implemented cloud computing. Our Frlday moming sessions, led by Lisa and a volunteer, have grown in popularity. Clients enjoy meeting friends, having a hot drinK and engaging in crafts and games. Our overhead costs remain signifbcant. and we rely on legacies and donations to sustain our seNices. This year, we reteived legacies amounting to £50,OC(J. Regular volunteering at a local tea dance at Stowford Community Centre raises between £1004200 per month, and an awareness day in town generate(I additional funds. Waitrose Sidmouth/John Lewis donated £l.cKKJ for a Christmas lunch for our clients. The Quakers, Masons, and many past and present clients also made generous contributions. Mandy, a member of our team, designed Christrnès cards that contribLEted to our fundra15ing efforts. We also introduced donation button on our website. The friendly SVS team ensures a warm welcome for anyone who contacts the charity. Our mission is to tontinue offering services that reduce loneliness and isolation in the Sid Valley, provide healthy meals, and trdnsport individuals to medical appointments. Dere Chairrnan of Trustees Reserves Policy The trustees have forecast the level of unrestrirted reserves needed to sustain the charity's operations over a period when it5 anticipated income generated from actlvities may be temporarily curt3iled. The tru5tses consider the most appropriate level o* these reserves at 31st December 2024 would be £35,500. This represents sufficient reserves to meet the costs of the Charityforthree months and would provide sufficient time to allow for an organised approach to the on8oing business of the Charity. At the 31st of December 2024 the Charity had reseNes of £1,234,01912023 £1,236,984). Flnanclal and Administratlve Rlsk Management The trustees seek to malntaln 3 broad base of fundlng sources, includin8 from services. donations and Income from investments. By Implementing effectlve cost control measures and ensuring the regular provision of management infom)ation and reportin& they aim to minimise financial risk to the charity in relation to its activities. Page 4 Reglstered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2024 Report of The Trustees (Cont) ResponSibilitS 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 re8ulations and United Kin8dom Generally Accepted Accounting Practice. The law applicable to charities in EnEland and Wales requires the trustees trj prepare financial Statements for each financial year. The financial staternents are required by law to gNe a true and fair view of the charity's financial position atthe end of the year and of the incoming resources and application of resources of the charity for that year. In pParIng these financial statements the trustees are required to-. select suitable accounting policies and then apply them consistently: obserne the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Stsndards have been followed, subjert to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it15 inappropriate to presume that the charity will continue in operdtion. The trustees are responsible for keeping proper attounting records that disclose with reasonable accuracy at any tlme the finantial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are a150 responsible for Safeguarding the assets of the charity and hence for taklng 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 ch3rity'5 website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements. Approved by the Trustees on 2025 and 5i8ned on thelr behalf by: Derek Prlce Ml¢h I Sycamore Page 5 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2024 Independent Examinerfs Report to The Trustees of Sidmouth Voluntary Services This report on the accounts of Sidmouth Voluntary Service5 for the year ended 315t December 2024, which are set oijt on pages 7 to 15. Respective re5ponslbllltles of the Trustees and Examiner and basis of report. I report to the trustees on my examination of the accounts of the above charity for the year ended 31st December 2024. As the charity's trustees. you are responsible for the pparatIOn of the accounts in accordance with the requirements of the Charities Act 20111"the Act"). The Charity's trustees consider that an audit is not required forthis year under section 144121 of the Charities Act 2011 (the 2011 Actl and that an independent examination is neetled. it 15 my responsibility to: examine the accounts under section 145 of the 2011 Act: to follow the prctedure8 18KJ down in the General Directions gNen by Ihe Charity Commission under Section 1451511bl of the 2011 Ac(" and to stste whellw particular matters have come to my attgntion. Basis of Examlnatlon My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanationsfrom you as trustees concerning anysuch matters. The procedures undertaken 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 5taternent below. Independent EKamlnePs Ststement In the course of my examination. no matter has come to my attention- l. Which give5 me reasonable cause to believe that. in any material respect, the requirements: - to keep accountin8 records With Section 130 of the 2011 Act,. and - to prepare accountswhich accord with the 8ccounting records and complywith the accounting requirements of the 2011 Att have not been met,. Or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. lan Roper BAIHonsl FCA Dated lan Roper & Co any Ltd Chartered Accountsnt 37 Fore StreeL Sidmouth Devon, EXIO 8QA Page 6 Registered Charity 2{78
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st Dember 2024 Statement of Financial Activitles Unrestrlrted funds Restrlcted funds Total thls Total last year Inrome and endowments from Donations and legacies Charitable activities Investment income Income from other trading actiwties Other 62,652 96,575 25,302 1,133 62,652 96,575 25.302 1,133 178,235 90,527 18,714 1,078 Total 185.662 185,662 288.554 Expendlture on: Charitable activities Raising Funds Other 238,741 io 238,751 225,046 102 10,914 236.062 10,665 249,407 10,665 249,417 Totol resources expended io Net Income/{Expendlture) beforo 8alns/lLosses) on Investments -63,745 -10 -63.755 52,492 Other recognised gains1(Ios5es1 Gains and losses on investments 60,789 60,789 52,044 Netmovement Infvnds -2,955 -10 -2,965 104,536 Totsl funds brought forward Totsl funds caTried forward 1,236,757 227 1,236,984 1.234,019 1,132,448 1,233,802 217 1.236,984 The statement of financial activities includes all gains and losses in the year. All income and expenditure derive from continuing activitles. Page 7 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31 st December 2024 Balance Sheet as at 31 December 2024 2024 2023 Flxed a55ets Tangible assets Investments 226,036 959,583 1,185,619 239,271 883,809 1.123.080 Ojrrent assets Stock Debtors Cash at bank and in hand 376 18,165 40.544 376 17,791 102,654 120,821 Totol current assets 59,085 Credltors: amounts falllng due wlthln one year io 10,684 6,917 Net current a55ets/(liubilitiTesJ 48,4LX) 113,904 Ivet assets 1,234,019 1,236,984 Funds of the Charity Unrestricted funds Restrlrted funds 12 12 1,233,802 217 1.236,757 227 Totolfvnds 1,234,019 1236,984 These financial staternents were approved by the Trustees on llt l¥thL 2025. and signed on its behalf by Derek Prite Scha Page 8 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2024 Notes to the Accounts Accouiiting 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 B15 of Preparation The financial statement5 have been prepared orb the basi5 of the historic cost convention at cost or transaction value, except investments which show at fair value in accordance with- Statement of Recommended Practice: Accounting and Reportin8 by Charities IFRS1021 and Update Bulletin I,. And with the Financial Reporting Standard applicable in the United Kingdom arbd Republit of Ireland IFRS1021 And with the Charlties Act 2011 And with Accounting Stsndards IUK Generally Accepted Practice) as applied from l January 2016 Sidmouth Voluntary Setvices meets the definition of a public benefit entity under FRSIO2. Asset5 and liabilities are initially recogni5ed at historrcal cost or transaction value unless Otherwise stated in the relevant accounting pollcy notelsl. 1.2 Fund Accounting Unrestricted funds are awdilable to spend on actwtties thatfurther any of the purposes of the charity. Designated funds are unrestrlcted funds of the chaFiEy whlth the Trustees have decided at their dlscretion to set aslde to use for a speclflc purpose. Restricted funds are donations which the donor has specified are to be 501ely used for particular areas of the Charities work for specific projects undertaken by the charity. 1.3 Incorne Recognition of income These are included in the Statement of Finaneial Activltles ISOFAI when: the charity become5 entitled to the resources- the trustees are vlrtually certain they will receive the resources,. and the monetary value can be measured with sufficient reliabilit Where incoming resources have related expenditure las with fundraising or contract incomel the incoming resources and relatefl expenditure are reported gross in the SOFA. Grants and donations are only included in the SOFA when the charfcy has unconditlonal entitlement to the resources. Incoming resources from tax reclaims are Included in the SOFA at the same tiffje as the gift to which they relate. Thi5 is only included in the SOFA once the related goods or service5 have been delivered. Gifts in kind are accounted for at a reasonable estimate of theirvalue to the chartty or the amount artually realtsed. Gifts in klnd for sale or distribution a included in the accounts a5 gifts only when sold or dlstrSbuted by the charity- Glfts in kind for use by the charity are included in the SOFA as incoming 50urce5 when recewable. Incoming resource5 with relt7ted expenditure Gronts and donations Tox reclalms on donotions and gifts Contractual income and performance related gronts Gifts in kind Page 9 Registered Chartty 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2024 Notes to the Accounts {Cont) Accountlng Policies {Contl Income (Cont) Donotedservices ondft7cilities These are only included in incoming resources (with an equivalent amount In resour5 expended) where the benefit to the charity is reasonab quantwfiable. measurable and material. The value placed on these rewurces is the estimated value to the charity of the Servi or facility received. The value of any voluntary help received is not included in the accounts but is described in the trustees, annL¢al report. This is included in the accounts when recewable. This includes any gain or loss on the sale of investments and any gain or Ios5 resutting from valU[ng investments to market value at the end of the year. Volunteer help Investment income Investmentgains ond1055es Expendlture Liubility recognition Liabilities a recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Ir)clude costs of the preparatlon and examlnatlon of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on govemance or constrcutional matters. Where the charity gives a grant with conditlons for Its payment being a speciflc level of service or output to be provided, such grants are only recogni5ed 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 remaln in the control of the charity. Governonce costs Grants wlth performonce condltlons Grants poyoble without performance conditions 1.5 Tangible Fixed Assets Tangible fixed assets are stated at tost less accumlslated depreciation. Depreciation is provided at rates calculated to write off the cost less resldual value of each asset over its expected useful life as follow5.. Office Equipment Fixtures and fjttings Minibuses Freehold propety 20% straight line 15°k slraighl line 25% reducing balance over 50 years No purchases under £250 are capitalised. Page 10 Registered Charity 2(6078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2024 Notes to the Accounts (Cont) Accounting Policie5 (Cont) 1.6 Tangible Fixed Assets Investments held as fixed assets are revalued at the balance sheet date and the 8ain or loss taken to the statement of financial activitles. The funds with Weatthtime Trusrees are valued as follows: - Quoted Investments are valued on a market value prfce basls Unit Trusts, Investment Bonds and Pension Bonds are valued on a bid price basi5. 1.7 Stock Stock is valued at the lower of cost of net realisable value. 1.8 Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition al setllemenl amount after any trade discounts or amount advanckd by the chanty. Subsequently. they are measured at the cash or other consideration expected to be rec8ived. 1.9 Cash at Bank and In Hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity ofthree months or less from the date ofacquisition or opening ofthe deposit orsimilar accounL 1.10 Creditors and Provision$ Creditors and provisions are r8cognis8d where the charty has a present oblatiOn resulting from a past oV8nt that will probably r8suIt in th8 transfer of funds lo a third paty and the amount due to setue the obligation can be measured or estimated reliabty. Creditors and provisions are normally recognised at their setdement amount after allowing for any trade discounts due. 1.11 Value Added Tax IVAT) The chanty is not registered for VAT. Accordingty, all expenditijre includes the relevant VAT. 1.12 TaxatloD As a charity SidmoLrth Voluntsry Services is not IL8ble to taxation on its investment income or any surplus arising from its charitable activities and $0 no provisKJn is required in Ihe financial statements. Page 11 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st ember 2024 Notes to the Accounts for the Year Ended 31 December 2024 (Cont) 2024 2023 Analysls of Income Donations and Legacies Donations Legacies Grants 10.524 49.171 2,958 62,652 7,096 169,673 1,465 178,235 Charitable Activities Day Centre Transport Servlce5 69,915 26,660 96.575 67,670 22,857 90.527 Investment income Wealthtime Trustees 24,008 1,294 16,517 2,197 Dep051t Interest Bank Interest 25.302 18.714 Income from Other Trading Activities Fundraising Sponsorship Friends of Twyford 228 118 905 960 1.133 1,078 Other Income Other Income Analysls of expendlture Charitable Day Centre Activities activitie5 Transport Services 180,036 58,705 238,741 168,751 56,295 225,046 Raising Funds Honorarla General adminlstration 102 102 Other Expenditure Banking and investment Bad debts and interest Accountancy Fees Independent examination fees 9,454 312 8,871 583 480 900 10,665 lo34 Page 12 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2024 Notes to the Accounts for the Year Ended 31 December 2024 Icont) 2024 2023 Employees Employment Costs Day Centre Artivities Transport SeNices 106,131 17,493 123.625 93,995 16,968 110,963 No employee received emoluments of more than £60.00012023-None} Nurnber of empl¢)yees The average monthly number of employees during the year, was as follows.. Part time stsff Relief staff 13 13 13 13 TeeS and adminlstrdtors, emoluments No trustees were in receipt of fees during the year or to any person known to be connected with them. Mileage allowances are clalmed In line with HMRC 8uideline5. Tanglble Flxed a55ets Freehold- Land & Buildin8S Furniture Equipt Day Centre Office Equipt Ambulances Total Cost l Revaluation As at IstJanuary 2024 Additions Sale of Assets 228.949 714 76,422 5.817 12,317 335 130,546 448,234 6,866 At 31 December2024 229.663 82.239 12,652 130.546 455,100 Depreciation As at 1st January 2024 Released on Disposal Charge for year At 31 December2024 62,364 53,396 11,109 82.094 208,963 4,577 66,941 2.994 416 12,113 94,207 20,101 56,390 11,525 229,064 Net Book value At 31 December 2024 162 722 36,339 226 036 At 31 December 2023 166,585 23,026 1.208 48,452 239,271 The original cost of the bullding and land is not depreciated, only the additions. The original cost was £66607 and is deducted from the cost of £229663 before depreciation of 2%1s calculated. Page 13 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st Dember 2024 Notes to the Accounts for the Year Ended 31 December 2024 {Cont) Flxed Asset Investments Llsted Investments Cash held as part of Wealthtime Investment Trustees portfolro Totsl Valuation at l J8nuary 2024 Additionslwithdrawls Net profit/-loss on revaluation at year end At 31 December 2024 868,544 14,429 15,265 556 883,809 14,985 60,789 60,789 943.762 15,821 959,583 Other unlisted investments comprlses COIF Charlties Investment Fund All fixed asset investments are held within the United Kingdom Debtors Debtors Prepayments Other Debtors Accrued Income 2024 1,126 10,458 2023 2.961 10,554 6,581 4,276 18.165 17,791 IIX Credltors: amounts falling due within one year Trade cditorS Other Creditors Accruals OtherTaxes and Social Seclsrity 2024 1,802 3.700 1,441 3.741 10.684 2023 414 1,8 1,899 2,804 6,917 11. Analysls of net assets Fund balantes at 31st December 2024 a5 represented by: Tangible Fixed Assets Investment Assets Current Assets Current Liabilitie5 Total Funds 2024 226,036 959,583 59,085 -10,684 1.234,019 2023 239,271 883,809 120,821 -6,917 1.236,984 At 31st December 2024 Page 14 Registered Charity 206078
SIDMOUTH VOLUNTARY SERVICES For the Year Ended 31st December 2024 Notes to the Accounts for the Year Ended 31 December 2024 (Contl 12. Movements of major fund$ Fund balances brought forward Fund balances carried forward Galn5 and Fund names Income Expendlture Transfer5 Restrirt¢d Funds 227 -10 217 Unrestrieted Funds General Reserye 1,236,757 185,662 -249,407 60,789 1,233,802 Total Fund5 1,236,984 185,662 -249,417 60,789 1,234,019 13. Other Financial Comrnitments Capitsl Commltments At 315t Oetember 2024 the charity no outstandinB capital commitrnents.12024- £ nill. Page 15 Registered Charity 206078