2023-03-31-accounts - Voluntary Action Sheffield

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Charity Registration Number: 223007 Company Number: 00215695 (England and Wales)

TRUSTEES' ANNUAL REPORT & ACCOUNTS

YEAR ENDED 31 MARCH 2023

VOLUNTARY ACTION SHEFFIELD TRUSTEES’ ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

	Contents	Page
	Legal and administrative information 1 - 2 Chair's foreword 3 - 4 Trustees' report (including Directors’ report) 5 - 19 Trustees' responsibilities 20 Independent auditor’s report 21 - 23 Statement of financial activities 24 Balance sheet 25 Cashflow statement 26 Notes to the accounts 27 - 46 Appendix A - Organisational structure 47

VOLUNTARY ACTION SHEFFIELD LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2023

Registered office:

The Circle 33 Rockingham Lane Sheffield S1 4FW

Telephone: 0114 253 6600 Fax: 0114 253 6601 Web: www.vas.org.uk Email: info@vas.org.uk Charity No: 223007 Company No: 00215695 VAT Reg No: 706 1183 63

Honorary officers:

Andy Buck (Chair) Kay Dickinson (Treasurer)

Other trustees:

Debbie Mathews (resigned at AGM 19[th] October 2022) Neil Booth (resigned at AGM 19[th] October 2022) Rachel Boyce (resigned at AGM 19[th] October 2022) James Lock Uri Rennie Tim Furness Peter Wozencroft Sara Hill David Bussue Safiya Saeed Lucy Ettridge (appointed at AGM 19[th] October 2022) Joanne Arch (appointed at AGM 19[th] October 2022) John Hudson (appointed at AGM 19[th] October 2022) Ruth Brown (appointed at AGM 19[th] October 2022)

‘Observer’ (non-voting) attendees at the Board:

Dawn Shaw (Sheffield City Council) Nicki Doherty (NHS Sheffield) Brian Hughes (NHS Sheffield)

Chief Executive:

Helen Sims

Company secretary:

Helen Sims

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VOLUNTARY ACTION SHEFFIELD LEGAL AND ADMINISTRATIVE INFORMATION - CONTINUED FOR THE YEAR ENDED 31 MARCH 2023

Committees and advisers:

Audit and Risk Committee

Kay Dickinson (Chair for Finance section), Tim Furness (Chair for Strategy and Governance section), Andy Buck and Peter Wozencroft.

Auditor:

BHP LLP Chartered Accountants 2 Rutland Park Sheffield S10 2PD

Bankers:

Unity Trust Bank plc Nine Brindleyplace Birmingham B1 2HB

Solicitors:

Banner Jones Solicitors Ltd 24 Glumangate Chesterfield S40 1UA

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VOLUNTARY ACTION SHEFFIELD TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023

Foreword from the Chair

It is with great pleasure that, on behalf of the board of trustees, I am introducing Voluntary Action Sheffield’s annual report and accounts for 2022/23.

The voluntary and community sector (VCS) is an extraordinarily important part of Sheffield. It does so much with and for so many people and communities. It is constantly innovating and improving. It very often spots and engages with really serious issues before others in the city can do so. It reaches everyone in the city – one way or another we all benefit from the VCS.

VAS’s purpose is to support the development of the voluntary and community sector so that it is sustainable and brings about positive social change. We do this in four main ways and in this report describe the work we undertook in 2022/23.

Leadership and advocacy

Leading the VCS response to the cost-of-living crisis;
Representing and advocating for the VCS within the new NHS and social care governance and partnership arrangements;
Hosting Healthwatch Sheffield, now in its tenth year;
Transforming the ways we work to tackle racism and improve race equality.

Supporting groups and organisations

Supporting nearly 200 groups to develop and improve;
Providing advice about funding and financial management;
Supporting all the city’s lunch clubs;
Providing professional human resources advice and payroll services;
Supporting groups providing holiday activities and food;
Providing managed workspace to 14 organisations and conference and meeting facilities which have been used by over 130 organisations.

Volunteering

Running Sheffield’s Volunteer Centre;
Implementing a new digital volunteer recruitment and management platform, which all VCS groups can use;
Providing face to face advice and support to prospective volunteers;
Accrediting a small number of organisations who have achieved the Sheffield Volunteer Standard.

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Partnership

Hosting Sheffield Youth – Neighbourhoods and Communities, which is working with young people and communities to understand and respond to their needs;
Leading the Sheffield Youth Leadership pilot programme Next Gen;
Hosting Move More Empowering Communities, which is focused on communities with the lowest level of participation in physical activity;
Running the Diabetes Action Hub;
Hosting the Autism Partnership Network;
Running the Community Well-being Champions programme;
Hosting SPRING, which is the key source of support to newly approved refugees;
Hosting New Beginnings, which supports refugees into volunteering and employment.

All these fantastic programmes are made possible by the first-class leadership and management provided by our chief executive and senior managers; the amazing work of our 53 paid staff and 74 volunteers; making very good use of our premises, The Circle; careful financial management and successful fundraising, which have maintained our sound financial position; and drawing upon all our knowledge and skills.

The board of trustees has sought maintain a high standard of governance, including ensuring that we have sound systems of financial management, internal control and risk management.

We hope you will agree that 2022/23 was a successful and effective year for VAS. We are always seeking to improve and welcome feedback to help us do so.

Lastly, I wanted to say “thank you” – to all our staff and volunteers; to the people in all the organisations who work with and support us; to all our funders; and to my fellow trustees.

Thank you.

Andy Buck Chair of the Board of Trustees

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Our vision, purpose and values

Our vision is that people work together to make a vital and growing contribution to the quality of life in all of Sheffield’s communities.

Our purpose is to support the development of voluntary and community action in a professional way, so that it is sustainable and brings about positive social change.

Our focus is: tackling inequality; increasing democratic engagement; and influencing change to city systems and structures to better meet people’s needs. We are ambitious and optimistic – we love Sheffield and want it to be a great city for all its people and communities.

Our values are the promotion of social justice, fairness and respect. We value diversity and seek to empower and enable others. We seek to demonstrate integrity, openness, resilience and innovation. We actively seek collaboration and cooperation, working in partnership with others in the voluntary and community sector and beyond.

Our strategic priorities

We have four strategic priorities:

1. Provide leadership and advocacy for the Voluntary and Community Sector (VCS), and support people and organisations to speak up and be influential;

2. Support organisations and groups to fulfil their purpose;

3. Encourage and support people to volunteer, and support organisations to offer great volunteering opportunities;

4. Work in partnership, bringing people and organisations together to optimise their impact.

We enable our priorities by making the very best use of our people, money, facilities and knowledge.

Public benefit

The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Details of the activities carried out to deliver a public benefit are set out in the Outcomes section below.

Outcomes in 2022-23

We have made good progress against our priorities in 2022-23.

PRIORITY 1: Providing leadership and advocacy for the VCS, and support people and organisations to speak up and be influential

Cost-of-living crisis

We have worked over the last year as a member of Sheffield’s City Strategy group, chaired by the Leader of the Council, to ensure there is oversight and a strategic approach to supporting people and communities in greatest need. VAS is also an active member of the Silver Command group (the city’s multi-agency crisis response board). We set up the city’s Welcoming Spaces Map in partnership with Sheffield City Council and have developed key communications to direct front line workers toward the

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city’s resources and services, as well as listening and feeding in key insight from the sector regarding people and communities furthest from support. We continue to highlight the significant efforts of the VCS to support people worst affected by the rise of energy and living costs.

Communication and networks

We have set up key information pages on the VAS website where we share resources for the sector about referral and signposting and explaining policy and accessing Government schemes. This structure mirrors that set up during Covid lockdown in 2020, where providing a single landing page proved useful for VCS organisations.

We have also chaired a network for food aid charities to amplify the insights of these groups regarding the needs of people in greatest poverty and to develop a collaborative food purchasing and distribution network with key food poverty and surplus food distribution partners.

Supporting new NHS governance arrangements in Sheffield and South Yorkshire

We coordinated VCSE input to the Sheffield Place Partnership and the governance arrangements being developed to support the work of the of the NHS Integrated Care System (ICS). The new Governance arrangements were launched in July 2022. This has required some careful handling at a Sheffield level to maintain the momentum of the Sheffield Health and Care Partnership. We have had reassuring support from all city leaders of health and wellbeing organisations about the importance of retaining the VCS in senior level governance arrangements.

We simultaneously worked with the South Yorkshire VCSE Leaders group and a range of our local VCS and statutory system stakeholders, to develop a Memorandum of Understanding with the ICS about how it will work with the VCSE across the South Yorkshire and Bassetlaw footprint. Following work with VCSE organisations and development of a Memorandum of Understanding, the SY VCSE Alliance was formed and has worked over the first six months to develop terms of reference for greater collaborative working with system partners and to develop a clear strategy.

Healthwatch Sheffield

We are the accountable body for Healthwatch Sheffield, providing a service on behalf of Sheffield City Council and the NHS to listen to people’s experiences of health and social care services in the city. The team are actively engaging and listening to Sheffield citizens and making sure that health decision makers hear from them about their experience of care.

In 2022/23 the team heard from 2,736 people about their experience, and provided information and advice about health and care services to 9,161 people.

Healthwatch Sheffield works in partnership with community organisations on a huge range of topics that matter to local people. Some key highlights this year include:

In the Chance to Choose project, adults with learning disabilities were supported to have a say in a new Council service.
Our audit of GP websites showed inequitable access to digital services across the city. NHS South Yorkshire has now committed to providing support for GP surgeries to improve their sites.

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Paul Blomfield MP quoted the work of Healthwatch Sheffield, when he raised important questions in parliament about the ongoing crisis in NHS dentistry.
With new primary care hubs being proposed in the North East of Sheffield, the Healthwatch team helped set up public meetings so that people could get information and have their say.
Our #SpeakUp report with Sheffield ME and Fibromyalgia Group brought clinicians and social care staff together to look at how improvements for patients could be made.

Equality and engagement work

VAS employs several key outreach roles, focussed on proactively reaching out to community groups, whose volunteers may be delivering community action around their own work commitments and other caring responsibilities. Often volunteers struggle to attend meetings and engage with networks, so we make sure that people are supported to find information and seek advice.

For small grassroots groups, one-to-one support is vital to ensure that we are actively listening to the needs of people.

Our Equality lead has started coaching and mentoring as part of a professional qualification and one to one support for leaders and managers has started to take place in the city, especially for leaders in volunteer roles who might not access personal development opportunities on offer in working hours.

We have continued to take action to tackle racism and to improve race equality. We have changed how we recruit and appoint staff to ensure that people from all backgrounds can succeed. We have engaged with a wider diversity of voluntary and community organisations. We have sought to ensure that Black, Asian and Ethnic Minority organisations and people can participate in and benefit from all our programmes and projects.

PRIORITY 2: Supporting organisations and groups to fulfil their purpose

Group and organisational development support

This year we supported 199 diverse VCS organisations to establish, maintain and develop their services and to recruit and properly manage their volunteers. We provided 1:1 support and guidance, signposting to other resources, advice surgeries and other outreach events, and opportunities for organisations to come together in forums and networks.

Organisations were faced with the challenge this year of delivering during a cost-of-living crisis. For many, budgets were being squeezed by increasing costs just as demand for their services rose. The majority of organisations we worked with (72%) were small, with incomes of under £10k, and our support focussed on helping them to be in a strong position to look for funding. We provided tools and guidance to help them review and strengthen their governance and demonstrate the impact of their services and enabled them to network and build connections and partnerships.

For new groups emerging through the year, we provided support to help them establish solid foundations - establishing clear aims, producing a constitution, getting a bank account and developing basic policies and procedures. We then connected them in with South Yorkshire Funding Advice Bureau (SYFAB) for practical funding advice.

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We reached out to organisations in communities through Local Area Committee (LAC) meetings, where we talked to local VCS groups about the support VAS could offer, provided advice and guidance, and facilitated discussions about practice when recruiting volunteers.

We provided support to lunch club leaders as they continued to build their services back up after the impact of the COVID pandemic. Cost of living increases, particularly rising food costs, made delivering a weekly high quality, nutritious lunch to their members a real challenge and was one of the regular topics of discussion in monthly Lunch Club Organisers meetings facilitated by VAS.

Advice surgeries with South Yorkshire Funding Advice Bureau (SYFAB)

VAS partnered with SYFAB to deliver Funding and Advice surgeries in community venues across Sheffield.

Within the year we delivered seven full day surgeries enabling 42 organisations to benefit from a 1:1 consultation a SYFAB Funding Advice Officer and a VAS Support Officer.

Organisations received joined up advice and guidance from VAS on getting themselves in a strong position to apply for funding and from SYFAB on identifying potential funders and making good applications.

Support for lunch clubs

We supported 42 Lunch Clubs this year through 1:1 guidance, regular emails containing information and resources, training opportunities, and regular network meetings for Lunch Club Organisers.

We provided two new Lunch Clubs with support to get established. Others received 1:1 guidance and support on various issues including safeguarding and volunteer recruitment.

Lunch Club volunteers were also able to access first aid training and food hygiene and allergens training organised by VAS.

Professional services

Our Human Resources service continued to provide support to 14 subscribers, and over the past year work has included one to one advice around recruitment and redundancy as well as three organisational staff handbook reviews.

VAS Payroll service delivered payroll for over 125 groups and supported three new groups to get started with payroll, setting them up with HMRC and pension providers, as well as bringing in human resources advice on setting up employment contracts.

We faced the difficult decision to close the community accounts service this year, following the resignation of our two qualified accountants. After some consideration we decided to close our service and to signpost people to local accountancy support available in the city. In its final year of operation VAS community accountancy supported over 100 clients, all of whom have been supported to find alternative appropriate provision.

Holiday Activities and Food - capacity building

VAS have developed a programme of training and support for Holiday Activities and Food providers, to support quality and development of provision in the city. Training includes an accredited paediatric first

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aid certification course, safeguarding level 1 training, as well as training to support inclusion and access to activities.

PRIORITY 3: Encouraging and supporting people to volunteer, support organisations to offer great volunteering opportunities

The Volunteer Centre, which is a part of VAS, has 5 core functions:

Strategic development of volunteering
Development of good practice
Brokerage
Development of volunteering opportunities
Voice of volunteering

Key areas of success this year have included:

Preparation for a new online volunteer platform

Making it easy and simple for people to start volunteering is a core mission of the Volunteer Centre and our platform needed to be updated so we could provide something that would simplify the volunteering process and also offer volunteer management capability in particular to smaller charities to help them manage their volunteers.

We identified a range of options and chose Team Kinetic and started using the platform for the Community Makers project in January as a pilot so we could then launch it to the rest of the sector.

This means that as a city, we will be able to provide every charity free volunteer management software, support volunteers to apply quickly, and to keep a track of what they have done, including their training so that for those who want to volunteer as a route to employment, the facility to do that is available for all.

Brokerage

In February, we re-opened our face-to-face service at The Circle with support from our team of volunteer Advisors and have completed a full year of face-to-face support. We have moved from appointment only support to offering a drop-in which is proving popular and is a good step as we returned following the pandemic. We are only doing this one day a week as opposed to three days per week and are keeping this under review as we watch the numbers, the demand for the service and the volume of accessible roles available. The majority of people using the drop-in are not able to use the website to access roles so often need entry level volunteering roles.

We have continued to offer a virtual service, but the demand for this has reduced as the drop-in service was re-introduced highlighting how the people we focus our support on prefer a face to face service.

Volunteer Standard

Sheffield Volunteer Standard is awarded to organisations who can demonstrate that their volunteer programme follows agreed good practice principles, and this almost always leads to volunteers being treated better and having a more positive, developmental volunteering experience. YWCA Yorkshire and IDAS have achieved the standard this year and SOAR has submitted its application to renew after three

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years. We are continuing to raise the profile of the standard as a structure for organisations to work through as they rebuild their volunteer base after the pandemic.

PRIORITY 4: Working in partnership, bringing people and organisations together to optimise their impact

SYNC - Sheffield Youth - Neighbourhoods and Communities

After some programme re-design and successful recruitment to the core programme team in December 2022, the SYNC programme moved into its second year of delivery with recruitment of three area hub partner organisations. The SYNC steering group sought expressions of interest for lead partners in March 2023 to work with local communities to understand and address local needs and involve young people meaningfully in the design and delivery of a local youth offer.

The Next Generation of Youth Leadership

VAS worked in partnership with Reach Up Youth in Burngreave and Saalik Youth in Ellesmere, supported by the national charity Streetgames, to deliver the ‘NextGen’ Youth Leadership pilot.

Commissioned by VAS as part of the Holiday Activities and Food workforce development and capacity building support (funded by the Department for Education), the programme supported the development of youth leadership training for two cohorts of 15 and 22 young people working with two of the leading grassroots youth organisations in the city.

During the project the youth leaders worked in weekly sessions to develop their skillsets through:

• Delivering sport workshop sessions

• Organising and delivering events

• Attending training workshops via the StreetGames Training Academy including accredited training.

• Taking part in a ‘Dragons’ Den’ style, workshop and pitched ideas for what they felt was needed in their community

As a result, of the programme young people reported that they had increased in confidence and were better connected to support. Many continued volunteering in their community as a result of the activities they had engaged in. A number of young people have already attained further employability either during, or soon after the end of the programme:

• Four young people gained employment with Sheffield City Trust as sports delivery officers and summer camp leaders – gained through interaction at the Careers event and enabled by accredited training.

• One young person is ready to be taken on as a member of staff at Saalik

Two young people have completed a boxing tutor course

Move More Empowering Communities (MMEC)

The Move More Empowering Communities project supported voluntary, community, faith, and social enterprise (VCSE) organisations across Sheffield work with communities with the lowest levels of physical activity.

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The aim was to work with these communities to understand what works to enable physical activity at a local level, what factors affect this, and ultimately enable more people to be active in ways and places that suit them.

We worked with VCS partners to enable physical activity in the following ways:

Building capacity in the VCS to understand the needs of the target communities (insight)
Building on assets (use of facilities, green and blue spaces, networks)
Working with partners
Developing a supported and person-centred approach
Building capacity to deliver activities

The programme was evaluated in partnership with Sheffield Hallam University colleagues and the learning and impact of the programme has been recognised nationally. There are some strong findings that support ways of removing barriers to people furthest away from physical health opportunities. This has supported our bid for further investment in the programme from Sport England and unlocks some of the understanding about reversing health inequalities and sustaining community assets.

Diabetes Action Hub

VCS organisations were engaged by VAS to identify the impact of activities and programmes of support for people living with type 2 diabetes across eight partner organisations.

The project design enabled nominated VCS workers to collect data from known service users to identify lived experience of support for diabetes management. The outcome of this phase of the programme was a preliminary ‘theory of change’ that identifies the target populations, support methods, outcomes and overarching impact of VCS activities.

Overall, the evaluation identified the benefits of hyper-local group activities, often employing peer to peer processes to share information about living with type 2 diabetes. Advice, guidance, and long-term support were not consistently available. While VCS services maintained relationships and were more culturally responsive (concerning language and cultural diets), there was still a demand for support for lifestyle and behaviour changes.

The evaluation highlighted the importance of targeted support for marginal and ethnically diverse communities, particularly where the primary care guidance was not accepted.

The continuous engagement methods, unique to the VCS sector, offer support to individuals and communities in person-centred ways across the health and care systems. Whilst VCS services recognised and supported professional health advice and worked in partnership with them, they also sought to strengthen the specific behaviour-change and communicated with individuals and households about ‘what mattered’ to them – recognising the barriers to accessing mainstream evidence-based treatment that for many were associated with culture, language and poverty.

Sheffield Autism Partnership Network

This partnership of over 40 groups and organisations is working to manage a number of areas of work to embed the Autism Strategy in the City. This is focussed on building support away from a bio-medical approach.

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The partnership appointed an academic with lived experience of autism to conduct a gap analysis, continue to educate providers and connect a community of people to work together through the Network on priorities for change and developing a more inclusive and enabling City for people with autism.

Community Wellbeing Champions

The Community Wellbeing Champions project focusses resource in the areas of the city with the greatest health inequalities, building on existing local leadership, developing new leaders and engaging members of the local community through trusted relationships that only these organisations and their volunteers can reach.

This gives a unique reach to positively influence and inform people, as well as gain unique insight from unheard voices to influence, shape and improve services.

The Community Champions project is now established in VAS with funding extended until June 2024. We have co-produced a revised programme and updated the core training to volunteers, started a monthly news bulletin to promote the work of the partners and volunteers and co-produced a new monitoring form to better capture the work being done.

Refugee Support Services

New Beginnings Project

The New Beginnings team secured and commenced the Sheffield City Council Ambition employment contract. This is the first time that VAS has held a City Council employment contract and is due to the inclusion of a refugee specialist contract.

The team have developed lots of new initiatives to manage the increase in demand for the services; increasing workshops and group sessions including a new IT support drop-in and employability skills workshops at the Circle. The team are collaborating with the Growth Company to deliver joint employment workshops at the Sanctuary and organised ESOL (English Speakers of other Languages) assessments via City Council adult education delivered at the Sanctuary.

Other highlights from the team include:

Six participants actively volunteering with the Sustaining Nature project, connecting Asylum Seekers and refugees with outdoor activities and green spaces. The team connected with many partners to develop opportunities, including Peak District National Park, Botanical Gardens, Heeley City Farm, Newfield Springwoods, Peak District National Trust, Sheffield and Rotherham Wildlife Trust and Green City Action (Grimesthorpe Allotment).
150 clients facilitated to travel to Leeds in September to participate in the Migration Yorkshire Integration festival where they felt a sense of belonging, celebrating their vibrant diverse cultures through food, music, dance, art, film, fabric etc
Refugees leading a number of projects with staff in the ‘stepping back’ phase of the empowerment model in the:
Sewing group,
Refugee women’s football

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Monthly creative art guided walks for refugees and asylum seekers in the Peak District throughout the year with an average of 20- 30 participants at each walk.
Securing funding for our clients from the Holiday Activities and Food summer and winter programme as well as from Hallam FM to provide Christmas gifts to 250 children.

SPRING

The profile of SPRING has been raised across the City Council and more widely recognised as the city approach to refugee integration and the hub to triage support services.
VAS and City of Sanctuary played an important role in the city’s response to the Ukraine resettlement programme and are part of weekly refugee support meetings and the Silver command group.
Asylum Migration Integration Fund funding has been approved for 2023, funding the project at its current level along with additional staffing for some partners up to December 2023.
The partnership evidenced support for an unprecedented number of clients in 2022-23 and has exceeded the cumulative target for the project as a whole (original target 790, clients supported with integration into the city).

Looking ahead to 2023-24

We will sustain our focus on our four strategic priorities. We will give particular emphasis to tackling poverty and achieving greater equality through supporting the sector to achieve community health and wealth creation in the city.

We have commenced and will undertake a full strategic review of our organisational purpose and enablers in 2023-24. We will develop our programme of work and ensure our operational structure of roles, skills and other assets are optimised for our future work.

In delivering our strategic priorities we will deliver the following:

Lead and advocate for the VCS, support people and organisations to speak up and be influential.

We will:

Influence strategic partners to engage effectively with the VCS’s priorities.
Celebrate and recognise the efforts and value of VCS leaders, staff and volunteers in Sheffield.
Become a leader by example in anti-racism and race equality.
Make new spaces and connections so that people from different communities can have their say and influence decision making directly, for example; invest in communities of practice, with support for VCS staff and volunteers to attend, in order to map and understand insight and develop shared action and communication as a sector.
Pass power to people through challenging and adapting leadership structures and support people with their own leadership profile.
Identify and understand insights about the people and communities we serve in order for City stakeholders to take responsibility and to advocate and share the learning within their spheres of influence.

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Work to influence the adequacy, consistency, and breadth of investment available to the VCS in the City across a range of stakeholders and ensure that VCS representatives can participate in the planning associated with future investment in partnership work.

Support organisations and groups to fulfil their purpose

We will:

Support groups and organisations to develop skills, knowledge and connections in their workforce to support their impact.
Connect together workforce investment opportunities to respond to workforce development needs of the sector.
Support smaller groups with less resource, to address historical inequity, especially for groups working with people with protected characteristics.
Provide access to a range of professional services to organisations to support their development and space needs.
Work with Sheffield Social Enterprise network and entrepreneurial support in the city region to enable community wealth development and transition toward a regenerative economy.
Enable collaborations to optimise impact and better serve communities.
Establish and broaden the new VCS network and maximise the information and learning impact of this network.

Encourage and support people to volunteer, support organisations to offer great volunteering opportunities.

We will:

Promote benefits of volunteering for the city, communities and individuals, and provide a strategic framework to make this a reality.
Support organisations to develop volunteering capacity/capability and enable people to access appropriate volunteering roles.
Embed the Community Connector model of volunteering in Sheffield to increase skills, wellbeing, enhance services and provide leadership and expertise.
Support refugees and asylum seekers to establish themselves successfully in Sheffield and contribute to life in the city.
Develop volunteer networks to support specific programmes of activity for example through the Community Makers programme, and the Community Wellbeing Champions Programme.
Create diverse volunteering opportunities to support effective delivery of our own work and also as part of the development routes / opportunities as part of our race equality ambitions.

Work in partnership, bringing people and organisations together to optimise their impact.

We will:

Lead cross-sector partnerships that build capacity and shape investment to leverage funding into the city to tackle the priorities of poverty, inequality and market failure.
Test and embed ways of working that optimise impact of the VCS; being an agent of positive system change.
Enable statutory organisations to connect with and be influenced by people’s experiences and VCS activity.
Develop our skills and employment focus as a key driver towards health and wealth.

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Enable cross sector expertise to support VCS sustainability.
Identify and enable the pooling of resources across partnerships in the city in an equitable and proportionate way. Ensure opportunities can be maximised around elements of community development work being fully joined up with other elements of the ‘system’ in Sheffield.
Support the development of physical assets and enablers of community ownership and sustainability.
Engage Universities and educational institutions to leverage the academic insight and the opportunity to develop skills and expertise in the VCS.
Share lessons across VCS organisations and wider strategic partners in a timely manner and appropriate formats to ensure that we continue to develop and grow our collective impact.

Structure, governance and management

Members of the Board of Trustees are nominated from and elected by the members. Each trustee is elected at an annual general meeting to serve for a three-year term, with approximately one third retiring each year. Casual vacancies may be filled by appointment by the Board until the next AGM. Honorary Officers (Chair, Vice-Chair and Treasurer) are nominated and elected by trustees annually, at the first Board meeting to follow the AGM.

The Board also has the power to admit observers, which is used to ensure close links with important partner organisations, such as the City Council and the NHS. Observers are not registered trustees or directors, and do not have voting rights.

The Board is also served by its committees and working groups, each chaired by a member of the Board, which meet between three and five times per year. These are responsible for scrutinising specific areas of work, undertaking tasks delegated to them by the Board, and advising the Board on policy and strategy. In 2022/23 there was an Audit and Risk Committee.

The Board has undertaken a self-assessment against the Charity Governance Code and regularly reviews progress against a governance action plan.

All new Board members receive an induction with the Chair and Chief Executive. In addition, there are annual or twice-yearly away sessions with senior managers and trustees focusing on strategy and enabling trustees to understand the organisation and their responsibilities.

The senior management team is our executive decision-making body. This was restructured during the year and at the end of the financial year comprised, the Chief Executive, Director of Strategic Partnerships, Director of Operations, Head of Finance, Head of Human Resources, Chief Executive of Healthwatch Sheffield, Head of Volunteering, Head of Facilities and the SYNC Strategic Lead.

The link between the Board of Trustees and staff is maintained through the following mechanisms:

Line management of the Chief Executive by the Chair;
Senior staff attendance at meetings of the Board and committees;
Joint sessions of the Board and Senior Management Team;
Designated link trustees, with a special interest in a particular strategic priority.

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We have continued to benefit from having a skilled and experienced team of trustees who brought constructive challenge and support to the Executive. Relationships between trustees and the senior management team developed productively and positively.

Risk management

Our Audit and Risk Committee leads on risk management and scrutinises the full risk management plan every quarter, with each trustee board meeting reviewing the most significant risks to the organisation, and those where we are most reliant on mitigating actions to reduce the risk faced.

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VOLUNTARY ACTION SHEFFIELD TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023

Financial review

Our income for the year was £3.10 million, up from £2.39 million the previous year. The principal sources of income were:

----- Start of picture text -----
% Breakdown of income by source
60.00%
50.00%
40.00%
30.00%
20.00%
10.00%
0.00%
grants Services hire
Public Sector Public Sector contracts Chargeable Rents & room Big Lottery Other grants
----- End of picture text -----

The biggest increases compared with 2021-22 are funding for our SYNC and SPRING projects (youth and refugees respectively), which have increased by over £500k. The majority of this funding is passed onto VCS partner organisations. In addition, we received funding from Health Education England for two workforce development projects, as well as co-ordination of a food network and a Collaborative Conversations project. Nearly 75% of our funding now comes from grants.

At the same time, The Circle continues its recovery from COVID with income going from £217k in 2021-22 to £312k in 2022-23. We’re not yet back to pre-covid levels in terms of bookings but we’re definitely moving in the right direction.

Our expenditure for the year was £2.46 million. The breakdown of expenditure by department was:

----- Start of picture text -----
% Breakdown of expenditure by department
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%
and Being Professional Services Training and Development Partnership projects
Core services
accommodation Volunteer Centre Health and Well
----- End of picture text -----

This represents an increase of £621k compared with the previous year and largely reflects the increase in grant funding received. Where the expenditure hasn’t increased it’s because the funding was received towards the end of the year and has been carried forward as restricted funds. As shown in note 7 to the accounts, almost 30% of our income is passed onto the VCS partner organisations.

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VOLUNTARY ACTION SHEFFIELD TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023

The net movement in funds for the year was an increase of £643k, made up of £96k unrestricted funds and £547k in restricted funds (which were received in 2022/23 and must be used for restricted purposes in 2023/24). The increase in unrestricted funds comprises £53k designated funds, largely to reflect the cost of the mortgage for The Circle, and a £43k increase to the general fund. The increase to the general fund is a result of an improved performance (against budget) for The Circle and our Professional Services.

Reserves policy

The Board has determined:

a) To maintain free reserves of at least £250,000, of which £170,000 is available to meet redundancy costs in case of wind-up, £40,000 is available to provide working capital (to be released against a business case) and a further £40,000 is available to manage risks and short-term year-on-year budget fluctuations.

To take a flexible approach to the precise amounts designated for each purpose if necessary.

At 31 March 2023, free reserves stood at £399,774, an increase of £42,575. This is significantly more than the level required by the reserves policy and is largely due to receiving a legacy of £104,399 in the previous year. However, it is expected that there will be a considerable draw on reserves in 2023-24.

In order to bring reserves closer to the level required by the policy, the budget for 2023-24 has been set at a deficit. Income for room hire at The Circle improved significantly last year but still has not returned to pre-covid levels. The Trustees believe that the budget represents a mid-case scenario for income and therefore the outturn could be worse or better than budget. Additional monitoring measures, put in place post-covid in order to be able to react promptly to any variances that occur are still being utilised.

(b) That restricted funds must be kept in a risk-free and liquid form.

Restricted funds are all grants received in advance of delivery of objectives. They are held in VAS’s current account.

Designated funds totalled £1,554,147 at the year end. These relate to the Circle building less the outstanding mortgage and the amount owing to eliminate the pension fund deficit. It also includes amounts ring fenced for partnership projects, Healthwatch activities, development of The Circle as a venue, IT infrastructure costs and a strategic review currently being carried out. See note 21 of the accounts for further details.

Fundraising Activities

VAS raises funds by applying to funding bodies for grants and charging for services. VAS does not proactively raise funds from the public, although it does receive small donations and occasional legacies from individuals.

BHP LLP 18

VOLUNTARY ACTION SHEFFIELD TRUSTEES’ RESPONSIBILTIES STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

Trustees’ responsibilities statement

The trustees (who are also directors of VAS for the purposes of company law) are responsible for preparing the Annual Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP 2019 (FRS 102);
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 is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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.

In so far as the trustees are aware:

there is no relevant audit information of which the charitable company’s auditor is unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

On behalf of the Board of Trustees

Andy Buck Chair Date: 5 October 2023

BHP LLP 19

VOLUNTARY ACTION SHEFFIELD INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2023

Independent Auditor’s Report to the Trustees of Voluntary Action Sheffield

Opinion

We have audited the financial statements of Voluntary Action Sheffield (the ‘charitable company’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charitable company’s affairs as at 31 March 2023, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

BHP LLP 20

VOLUNTARY ACTION SHEFFIELD INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2023

Other information

The trustees are responsible for the other information. The other information comprises the information included in the chair’s foreword and the trustees’ annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the trustees' report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit;
the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

BHP LLP 21

VOLUNTARY ACTION SHEFFIELD INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2023

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement (set out on page 20), the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the entity through discussions with Trustees and other management, and from our knowledge and experience of the charity sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the entity, including safeguarding legislation, health and safety and data protection laws;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
we ensured identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

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VOLUNTARY ACTION SHEFFIELD INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2023

We assessed the susceptibility of the entity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

agreeing financial statement disclosures to underlying supporting documentation;
reading the minutes of meetings of those charged with governance; and
enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Philip Allsop (Senior Statutory Auditor) For and on behalf of BHP LLP, Statutory Auditor 2 Rutland Park Sheffield S10 2PD

Date: 30 October 2023

BHP LLP

VOLUNTARY ACTION SHEFFIELD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Note Funds £ Income: Donations and legacies 3 14,604 Income from charitable activities 4/5 793,453 ___ Total income 808,057 ___ Expenditure: Costs of raising funds 6 (10,481) Expenditure on charitable activities 7/10 (668,674) Remeasurement of pension scheme - ___ Total expenditure (679,155) ___ Net income/(expenditure) 9 128,902 Transfers between funds 21 (33,318) ___ Net movement in funds 95,584 Funds brought forward as at 1 April 2022 1,858,337 ___ Funds carried forward as at 31 March 2023 1,953,921 ___	Restricted Funds £ - 2,290,043 ___ 2,290,043 ___ - (1,776,230) - ___ (1,776,230) ___ 513,813 33,318 ___ 547,131 902,905 ___ 1,450,036 ___	Total Total 2023 2022 £ £ 14,604 138,219 3,083,496 2,252,981 ___ _ 3,098,100 2,391,200 ___ _ (10,481) (10,037) (2,444,904) (1,862,460) - 38,276 ___ _ (2,455,385) (1,834,221) ___ _ 642,715 556,979 - - ___ _ 642,715 556,979 2,761,242 2,204,263 ___ _ 3,403,957 2,761,242 ___ __

All of the above results are derived from continuing activities. The result for Companies Act purposes comprises the net movement in funds of £642,715 (2022: Net movement in funds of £556,979).

The statement of financial activities includes all gains and losses recognised during the year.

BHP, Chartered Accountants 24

VOLUNTARY ACTION SHEFFIELD BALANCE SHEET AS AT 31 MARCH 2023

Note £ ixed assets Tangible assets 15 Current assets Debtors 16 696,372 Cash at bank and in hand 1,398,423 ___ 2,094,795 Creditors: amounts falling due within one year 17 (227,864) ___ Net current assets Total assets less current liabilities Creditors: amounts falling due in more than one year 18 Net assets Charity funds Restricted 19 Unrestricted Designated 21 1,554,147 General 23 399,774 ___ Total Charity funds 22		2023 £ 1,904,000 -------------- 1,904,000 1,866,931 3,770,931 (366,974) ___ 3,403,957 ___ 1,450,036 1,953,921 ___ 3,403,957 __		2022 £ 1,935,000 -------------- 1,935,000 468,959 1,049,805 _ 1,518,764 (251,448) _ 1,267,316 3,202,316 (441,074) _ 2,761,242 _ 902,905 _ 1,501,138 357,199 _ 1,858,337 ___ 2,761,242 __

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

These accounts were approved and authorised for issue by the Board on 5 October 2023 and are signed on its behalf by:-

K Dickinson Honorary Treasurer

A Buck Chair

Company Registration No.00215695

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VOLUNTARY ACTION SHEFFIELD CASHFLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

2023
£
Cash flows from operating activities:
Net cash provided by operating activities
419,646
Cash flows from financing activities:
Repayment of borrowing
(71,028)
Net cash used in financing activities
(71,028)
___
Net increase in cash and cash equivalents
348,618
___
Cash and cash equivalents at 1 April 2022
1,049,805
___
Cash and cash equivalents at 31 March 2023
1,398,423
_
Cash and cash equivalents consists of:
Cash at bank and in hand
1,398,423
___
Cash and cash equivalents at 31 March 2023
1,398,423
_
Reconciliation of net income to net cash flow from operating activities
2023
£
Net income for the reporting period
642,715
(as per the statement of financial activities)
Adjustments for:
Depreciation and amortisation charges
31,000
(Increase)/decrease in debtors
(227,413)
Increase in creditors
(20,584)
Decrease in pension deficit provision
(6,072)
___
Net cash provided by operating activities
419,646
___

2022
£
364,811
(75,445)
(75,445)
_
289,366
_
760,439
_
1,049,805
_
1,049,805
_
1,049,805
_
2022
£
556,979
31,000
(170,897)
4,647
(56,918)
_
364,811
_

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VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting policies

(a) General information and basis of preparation

Voluntary Action Sheffield is a registered charity in the United Kingdom and a company limited by guarantee in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 - 2 of these financial statements. The nature of the charity’s operations and principal activities are detailed in the Trustees’ report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements .

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

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VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting policies (continued)

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Report.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity where it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

The charity receives government grants in respect of Infrastructure Support to the Voluntary and Community Sector, the Sheffield Healthy Holiday scheme and the Volunteer Centre. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Investment income is interest earned on the Charity’s current account.

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Costs of raising funds - This relates to the cost of obtaining the grants referred to in note (c). It includes 25% of the Marketing & Communications Officer’s salary together with related office costs.
Expenditure on charitable activities - These are the direct costs of VAS’s work to meet its charitable activities plus governance costs. Governance includes the direct and indirect costs relating to external audit and to the constitutional and statutory requirements for managing the charity. The following costs have been allocated to governance:
One day per week of each of the Chief Executive, Head of Business Growth and Head of Finance together with related office costs.
Auditor costs.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative and payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on a cost per square foot basis and other overheads have been allocated on a staff hours basis.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 7.

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VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting policies (continued)

( f) Intangible assets

Research expenditure is written off in expenditure in the SoFA in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated. Intangible assets are amortised on a straight line basis over their useful lives.

(g) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Leasehold land Nil Leasehold buildings 50 years straight line Computer equipment 3 years straight line Fixtures and fittings 10 years straight line

(h) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(i) Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

(j) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(k) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

(l) Leases

Rentals payable and receivable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.

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VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

1. Accounting policies (continued)

(m) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

The charity contributes to the Pension Trust Growth Plan for its employees. This is in most respects a money purchase arrangement, but does include certain guaranteed benefit elements. The Plan is a multi-employer scheme. Since the charity has entered into an agreement (the Recovery Plan that determines how each employer within the scheme will fund the overall deficit), the contributions paid are shown in the income and expenditure account. Under FRS 102, the fair value of the commitment is recognised. The calculation of their fair value of the commitment is subject to an assumption on the discount rate. The discount rate is determined by reference to market yields at the reporting date on high quality bonds.

(n) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(o) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

(p) Judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.

There are no estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

2. Prior Year Statement of Financial Activities – for comparison

Unrestricted Note Funds £ Income: Donations and legacies 3 128,919 Income from charitable activities 4/5 626,981 ___ Total income 755,900 ___ Expenditure: Costs of raising funds 6 (10,037) Expenditure on charitable activities 7/10 (618,716) Remeasurement of pension scheme 38,276 ___ Total expenditure (590,477) ___ Net income/(expenditure) 9 165,423 Transfers between funds 21 - ___ Net movement in funds 165,423 Funds brought forward as at 1 April 2021 1,692,914 ___ Funds carried forward as at 31 March 2022 1,858,337 ___	Restricted Funds £ 9,300 1,626,000 ___ 1,635,300 ___ - (1,243,744) - ___ (1,243,744) ___ 391,556 - ___ 391,556 511,349 ___ 902,905 ___	Total 2022 £ 138,219 2,252,981 ___ 2,391,200 ___ (10,037) (1,862,460) 38,276 ___ (1,834,221) ___ 556,979 - ___ 556,979 2,204,263 ___ 2,761,242 ___

All of the above results are derived from continuing activities. The result for Companies Act purposes comprises the net movement in funds of £556,979 (2021: Net movement in funds of £353,840).

The statement of financial activities includes all gains and losses recognised during the year.

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

3. Income: Donations and legacies Unrestricted Restricted £ £ Marjorie Coote Old People’s Charity 10,000 - Sheffield Town Trust 2,500 - James Neill Trust Fund 2,000 - Church Burgesses Trust - - Henry Boot Plc - - Ove Arup - - Lemonaid Motor Legal Ltd - (500) NEC Volunteer Centre - - James Frederick Cousins - - David and Jane Richards Family Foundation - 250 WANdisco International Ltd - 250 Sundry donations 104 - ______ ______ 14,604 - ______ _ 4. Income from charitable activities: analysis by activity This income can be analysed over the following activities: Unrestricted Funds Restricted Funds Core Services and accommodation 346,892 66,000 Volunteer Centre 35,206 168,231 Health and Wellbeing 209,952 797,899 Professional Services 173,855 - Training and Development 2,548 431,657 Partnership Projects 25,000 826,256 Total 793,453 2,290,043	3. Income: Donations and legacies Unrestricted Restricted £ £ Marjorie Coote Old People’s Charity 10,000 - Sheffield Town Trust 2,500 - James Neill Trust Fund 2,000 - Church Burgesses Trust - - Henry Boot Plc - - Ove Arup - - Lemonaid Motor Legal Ltd - (500) NEC Volunteer Centre - - James Frederick Cousins - - David and Jane Richards Family Foundation - 250 WANdisco International Ltd - 250 Sundry donations 104 - ______ ______ 14,604 - ______ _ 4. Income from charitable activities: analysis by activity This income can be analysed over the following activities: Unrestricted Funds Restricted Funds Core Services and accommodation 346,892 66,000 Volunteer Centre 35,206 168,231 Health and Wellbeing 209,952 797,899 Professional Services 173,855 - Training and Development 2,548 431,657 Partnership Projects 25,000 826,256 Total 793,453 2,290,043	Total Total 2023 2022 £ £ 10,000 10,000 2,500 2,500 2,000 2,000 - 10,000 - 5,000 - 2,300 (500) 500 - 1,500 - 104,399 250 - 250 - 104 20 ______ __ 14,604 138,219 _ ____ Total Total 2023 2022 412,892 256,712 203,437 335,510 1,007,851 863,549 173,855 168,894 434,205 285,017 851,256 343,299	Total Total 2023 2022 £ £ 10,000 10,000 2,500 2,500 2,000 2,000 - 10,000 - 5,000 - 2,300 (500) 500 - 1,500 - 104,399 250 - 250 - 104 20 ______ __ 14,604 138,219 _ ____ Total Total 2023 2022 412,892 256,712 203,437 335,510 1,007,851 863,549 173,855 168,894 434,205 285,017 851,256 343,299
	793,453 2,290,043	3,083,496	2,252,981

An analysis of the sources of this income is shown in note 5.

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

5. Income from charitable activities: analysis by funding source

Sheffield City Council – Voluntary Sector/revenue grants Sheffield City Council – Other Funding - Healthwatch - Sheffield Healthy Activities Fund - Food network co-ordination - Community Champions - Device Scheme - Changing Futures - Shared Prosperity Fund - Collaborative Conversations - ESF Employment project Sheffield NHS Accountable Care Partnership (ACP) Sheffield NHS Clinical Commissioning Group (CCG) Sheffield NHS Teaching Hospitals South Yorkshire NHS Integrated Care Board Move More Empowering Communities (via Sheffield Hallam University) National Lottery Community Fund: - New Beginnings (Ref 0010349998) restricted fund - Voluntary Action Sheffield Diabetes (Ref 20151708) restricted fund - Sheffield Youth – Neighbourhoods and Communities (SYNC) (Ref 20106886) restricted fund Asylum and Migration Integration Fund Esmee Fairbairn Foundation Health Education England Sustaining Nature Ignite Imaginations National Association of Voluntary and Community Action (NAVCA) Voluntary Action Rotherham Other grants (less than £5,000) Care Quality Commission Kickstart The Circle – Rental income / room hire / conferencing Chargeable services / sundry income	2023 £ 167,430 209,952 192,140 88,000 57,000 - 12,500 20,000 46,000 35,206 12,500 - 143,400 205,429 97,771 - 75,261 164,576 499,927 176,752 245,548 50,000 23,750 15,000 5,000 17,059 - - 312,468 210,827 ___ 3,083,496 ___	2022 £ 193,630 209,952 114,544 - 150,000 5,500 12,500 - - - 75,400 278,988 - - 174,986 155,309 50,000 76,885 266,414 - - - - - - 10,080 48,000 9,015 216,716 205,062 _ 2,252,981 _

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

6. Costs of raising funds Staff costs Other costs	2023 £ 9,991 490 __ 10,481 ____	2022 £ 9,471 566 __ 10,037 ____

7. Expenditure on charitable activities

Support costs totalling £276,247 (2022: £215,392) have been allocated across activities. Costs have been allocated either on the basis of time spent by the departments in supporting the activities, or other usage of the service.

Finance Human Resources ICT internal services Executive management and administration	2023 2022 £ £ 31,985 27,553 29,489 28,871 40,852 34,355 173,921124,613 __ 276,247215,392 _ ______

Expenditure can be analysed over the following activities:-

Core services and Accommodation Less: Support costs recharged to projects Volunteer Centre Health and Well-being Professional Services Training and Development Partnership Projects	Activities Activities undertaken undertaken by Support Total Total directly partners costs 2023 2022 £ £ £ £ £ 382,279 1,950 276,247 660,476 602,808 (148,202) - (245,948) (394,150) (330,059)
	234,077 1,950 30,299 266,326 272,749 177,620 118,500 34,221 330,341 177,735 500,455 87,893 101,831 690,179 574,688 136,462 - 24,469 160,931 168,838 193,665 58,359 41,584 293,608 241,540 200,175 459,501 43,843 703,519 426,910
	1,442,454 726,203 276,247 2,444,904 1,862,460

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

8. Governance costs Staff costs Related office costs Audit 9. Net income/(expenditure) for the year is stated after charging: Auditor’s remuneration Operating lease rentals in respect of equipment and vehicles Depreciation of fixed assets 10. Interest payable Bank loans/mortgage 11. Staff costs and employee benefits Wages and salaries Social security costs Pension contributions – current service Pension contributions – scheme deficit (see note 13)	2023 2022 £ £ 27,097 25,822 816 1,006 13,925 10,422 ______ __ 41,838 37,250 ______ _ 2023 2022 £ £ 13,896 10,422 1,996 1,996 31,000 31,000 ______ 2023 2022 £ £ 24,747 17,409 ______ 2023 2022 £ £ 1,171,165 924,940 96,630 72,784 63,731 51,020 6,102 18,642 ____ 1,337,6281,106,554 ___ ______	2022 £ 25,822 1,006 10,422 __ 37,250 _ 2022 £ 10,422 1,996 31,000 ___ 2022 £ 17,409

The average number of employees during the year was 54 (2022: 46).

No employee earned more than £60,000 per annum (2022: nil).

12. Trustees, key management personnel remuneration and expenses and related party transactions

None of the trustees receive any remuneration in respect of their role as director/trustee of VAS. No travel expenses were paid during the year (2022: nil). No trustees received payment in respect of training and consultancy (2022: nil).

Several VAS trustees are also employees or trustees of VAS member organisations to which VAS provides various services including payroll and accountancy services. The charges for these services are relatively small and always on normal commercial terms. One trustee, Andy Buck, is a non-executive director of South Yorkshire Housing Association that in 2023 provided sub-contracted services to the Diabetes projects with a value of £7,200. (2022: nil). Two trustees, Andy Buck and Sara Hill are members and a third trustee, James Lock, is a director and shareholder of Opus Independents that provided services to a value of £1,330 (2021: £1,464). Another trustee, Kay Dickinson, has a partner who works for Sheffield Hallam University (SHU). VAS received £97,771 funding for the Move More project via SHU, as shown in note 5 (2022: £174,986).

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

Three trustees, Joanne Arch, Lucy Ettridge and Ruth Brown work for the NHS in Sheffield, from whom VAS receives funding as detailed in the notes above. None of the Trustees have authority or influence over the funds given to VAS.

One trustee, David Bussue is an employee of SACMHA which received a £10,000 grant as part of the Community Champions project and £330 as a backfill payment to attend Diabetes project steering meetings (2022: received £3,750 in funding as part of two projects: the Move More programme and Diabetes research). One trustee, Safiya Saeed is the project manager of Reach Up Youth which received £150 from the Collaborative Conversations project (2022: £330 from Move More project). Safiya is also a councillor for Sheffield City Council, from whom VAS receives funding as detailed in the notes above. Safiya has no authority or influence over the funds given to VAS. Another Trustee, Tim Furness, is a Trustee of Age UK Sheffield, who were the lead partner on a joint project with VAS, for which VAS received £2,500 (2022: nil).

One member of the senior management team, Lloyd Samuels, is also an employee of ZEST which received a £10,000 grant as part of the Community Champions project and £566 for workshop/steering group attendance (2022: £1,750 for work on the Diabetes project and £1,921 as a final payment on the Work Programme). Another member of the senior management team, Helen Steers, is a trustee of Citizens Advice Sheffield which received £153,441 from VAS as part of the SPRING consortium and £125 for workshop attendance (2022: £113,714 SPRING, £1,360 Healthwatch).

The total amount of employee benefits received by key management personnel is £339,264 (2022: £302,744). The Trustees consider key management personnel to comprise: Chief Executive Officer, Director of Operations, Head of Finance, Buildings and Facilities Manager, Head of Volunteering, Human Resources Manager, Healthwatch Chief Officer, Head of Health and Well Being and SY-NC Strategic Lead.

13. Pension costs

VAS makes payments on behalf of employees into individuals defined contributions pension schemes. The assets of these schemes are held separately from those of VAS in independently administered funds. The pension cost charge in the statement of financial activities represents contributions payable by VAS to the funds and amounts to £69,833 (2022: £69,662). £6,102 of the contributions in 2023 related to the deficit on the Pensions Trust scheme (see note 26) (2022: £18,642). Contributions of £8,753 were due at the year-end (2022:£6,310).

14. Taxation

As a charity, VAS is exempt from tax on income and gains falling within the available tax exemptions to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

15. Tangible assets

Long Computer Leasehold equipment land and and buildings software £ £ *Cost* At 1 April 2022 4,305,888 130,232 Additions - - ___ ______ At 31 March 2023 4,305,888 130,232 ___ ______ *Depreciation* At 1 April 2022 2,370,888 130,232 Charge for the year 31,000 - ___ ______ At 31 March 2023 2,401,888 130,232 ___ ______ *Net Book Value* At 31 March 2023 1,904,000 - ___ ______ At 31 March 2022 1,935,000 - ___ ______ 16. Debtors Debtors falling due within one year Trade debtors Prepayments Grants and legacies receivable Other debtors 17. Creditors: amounts falling due within one year Amount held on behalf Help Yourself Directory Bank loan Pension scheme deficit contributions Accruals Deferred income – income received in advance (see note (a) below) Tax and social security Staff holiday accrued	Other fixtures £ 188,203 - _ 188,203 _ _ 188,203 - _ _ 188,203 _ _ - _ - _ 2023 £ 499,975 17,732 178,254 411 _ 696,372 _ 2023 £ 6,981 74,370 6,102 62,162 35,009 28,836 14,404 ______ 227,864 _	Total £ 4,624,323 - __ 4,624,323 __ 2,689,323 31,000 __ 2,720,323 __ 1,904,000 __	Total £ 4,624,323 - __ 4,624,323 __ 2,689,323 31,000 __ 2,720,323 __ 1,904,000 __
		1,904,000
			_ 2022 £ 326,249 10,215 132,080 415 _ 468,959
			_ 2022 £ 6,981 77,370 6,102 94,155 31,084 22,040 13,716 ______ 251,448 _

The bank loan is secured on freehold land and buildings of the company over 10 years from February 2018, at a rate of 3% over Unity Trust Bank’s base rate, subject to a minimum rate of 3%.

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

17. Creditors: amounts falling due within one year (continued)

(a) Deferred income: Tenant rent deposits Training course fees Contract income Other 18. Creditors: amounts falling due after more than one year Bank loan Pension scheme deficit contributions Bank loan maturity analysis: In less than one year In more than one year but not more than two years In more than two years, but not more than five years In more than five years See note 26 for details of the pension deficit payments.	16,754 8,661 3,239 550 ______ 29,204 _ 2023 £ 362,399 4,575 ___ 366,974 ___	__	14,861 12,542 3,239 442 ______ 31,084 _ 2022 £ 430,427 10,647 _ 441,074 _ 77,370 80,274 259,720 90,433 ___ 507,797 _
	74,370 80,767 281,632 - ___ 436,769 ___	_
		_

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

19. Restricted funds

Balance at 01.04.22 *Core* Awards Ceremony 2,053 Thriving VCF Group 990 Collaborative Conversations - Voice and Leadership 18,455 Cohesion Sheffield 6,923 Shared Prosperity Fund - _ 28,421 _ *Volunteer Centre* Volunteer Centre 3,860 Refugee & Asylum Seekers New Beginnings Project 89,999 Sheffield Business Together 5,949 Community Champions 150,000 Community Makers - _ 249,808 _ *Health and Wellbeing* Healthwatch 63,000 People Keeping Well 18,337 VAS Long Covid 90,000 Health Leadership 74,193 Autism project 62,195 Move More Empowering Communities 8,648 Diabetes Action Hub 24,600 Changing Futures 11,942 Health Education England - _ 352,915 _ *Training and Development* Lunch Club Referral Service 305 Development Team 44,649 Food Network Co-ordination - Holiday Activities and Food 58,358 _ 103,312 _ Consortium Service SPRING 119,420 Sheffield Youth - Neighbourhoods 49,029 and Communities (SYNC) _ 168,449 _ Total 902,905 _	Incoming resources £ - - 46,000 - - 20,000 ______ 66,000 ______ 5,000 82,481 (500) 57,000 23,750 ______ 167,731 ______ 124,627 47,000 - 130,241 67,500 97,771 75,260 12,500 243,000 __ 797,899 __ 28,188 131,564 88,000 183,905 __ 431,657 __ 509,927 316,829 __ 826,756 __ 2,290,043 __	Resources expended £ - - 12,125 4,455 792 - _ 17,372 _ 20,000 121,937 5,449 133,458 13,686 _ 294,530 _ 116,848 52,848 11,762 74,580 53,402 106,419 29,864 24,026 - __ 469,749 __ 30,034 150,022 19,000 92,004 __ 291,060 _ 607,394 96,125 __ 703,519 __ 1,776,230 __	Balance at Transfers 31.03.23 £ £ - 2,053 - 990 - 33,875 - 14,000 - 6,131 - 20,000 _ _ - 77,049 _ _ 15,000 3,860 6,777 57,320 - - - 73,542 - 10,064 _ ______ 21,777 144,786 _ _ - 70,779 - 12,489 - 78,238 - 129,854 - 76,293 - - - 69,996 - 416 - 243,000 _ _ - 681,065 _ ______ 1,541 - -15,000 11,191 - 69,000 - 150,259 _ ______ -13,459 230,450 _ ______ - 21,953 25,000 294,733 _ ______ - 316,686 _ _ 33,318 1,450,036 _ _

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

19. Restricted funds (continued)

Prior Year restricted funds – for comparison

Balance at 01.04.21 *Core* Awards Ceremony 2,503 Thriving VCF Group 990 Access to Work - The Circle - Voice and Leadership 34,414 Cohesion Sheffield 7,733 NAVCA - Job Retention Scheme - _ 45,640 _ *Volunteer Centre* Volunteer Centre 3,860 Refugee & Asylum Seekers New Beginnings Project 56,297 Sheffield Business Together 11,448 Community Champions - _ 71,605 _ *Health and Wellbeing* Healthwatch 11,700 People Keeping Well 8,114 Health Leadership 24,461 Autism project 33,917 Move More Empowering Communities 4,215 Diabetes Action Hub - Changing Futures - _ 82,407 _ *Training and Development* Lunch Clubs 10,362 Lunch Club Referral Service 1,386 Development Team 49,990 Holiday Activities and Food - _ 61,738 _ Consortium Service SPRING 249,959 SYNC - _ 249,959 _ Total 511,349 _	Incoming resources £ - - 1,216 2,944 - - 4,750 4,253 ______ 13,163 ______ 5,250 176,495 13,065 150,000 ______ 344,810 ______ 88,400 135,000 110,967 79,500 174,986 50,000 12,500 __ 651,353 __ - 28,188 141,764 112,723 __ 282,675 __ 266,414 76,885 __ 343,299 __ 1,635,300 __	Resources expended £ 450 - 1,216 2,944 15,959 810 4,750 4,253 _ 30,382 _ 5,250 142,793 18,564 - _ 166,607 _ 37,100 34,777 61,235 51,222 170,553 25,400 558 __ 380,845 __ - 29,269 152,241 59,591 __ 241,101 _ 396,953 27,856 __ 424,809 __ 1,243,744 __	Balance at Transfers 31.03.22 £ £ - 2,053 - 990 - - - - - 18,455 - 6,923 - - - - _ _ - 28,421 _ _ - 3,860 - 89,999 - 5,949 - 150,000 _ ______ - 249,808 _ _ - 63,000 - 108,337 - 74,193 - 62,195 - 8,648 - 24,600 - 11,942 _ _ - 352,915 _ ______ (10,362) - - 305 5,136 44,649 5,226 58,358 _ ______ - 103,312 _ ______ - 119,420 - 49,029 _ ______ 168,449 _ _ - 902,905 _ _

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

19. Restricted funds (continued)

Core - Funding to support core running costs.

All of the other restricted funds relate to specific projects being undertaken by VAS. The projects are shown separately, but categorised into the main activities of VAS. Details of many of these projects are given in the Trustees’ Report.

Those restricted projects that are believed to need further narrative to explain what services they provide are detailed below. More information can be found on our website (www.vas.org.uk).

Project Service Healthwatch Sheffield Established 1 April 2013 as part of the Government health reforms, to strengthen the patient, service user and public voice in shaping health and social care services. Gives citizens and communities a stronger voice to influence and challenge how health and social care services are provided in their locality.
SPRING A collaboration of six organisations helping refugees settle into the local community. It is funded by the Asylum Migration and Integration Fund.
Changing Futures A government funded programme aiming to improve outcomes for adults experiencing multiple disadvantage – including combinations of homelessness, substance misuse, mental health issues, domestic abuse and contact with the criminal justice system.
Community Makers A project funded by Arts Council England (via Ignite Imaginations) to promote volunteering within the creative arts sector in Sheffield.
Collaborative Conversations This project aims to create a common way of having meaningful conversations about what happens in our city. This will support local people to collaborate on decisions that affect their lives and create action that really matters.
Shared Prosperity Fund A three-year government funding stream that replaces European Structural and Investment Funds. The fund aims to improve pride in place and increase life chances across the UK by investing in communities and supporting local businesses, people, and skills.

20. Transfers between funds

There were transfers of £33,318 between restricted and unrestricted funds during the year (2022: nil). These represent unrestricted funds applied to restricted projects. In particular they include £25,000 from Esmee Fairbairn Foundation, who part-fund our SYNC project, which was for general cost-of-living increases and has been allocated to the SYNC project.

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

21. Designated funds

The unrestricted funds of the Charity include the following designated funds which have been set aside out of unrestricted funds by the Board of Trustees for specific purposes:-

Balance at 01.04.22 Transfers £ £ Fixed assets 1,410,454 - Consortium Service funds 14,225 - IT infrastructure and equipment fund 15,000 - Healthwatch 41,526 - Circle Redevelopment Fund 19,933 - Strategic Review fund - - _ _ 1,501,138 - _ _ Prior Year designated funds – for comparison Balance at 01.04.21 Transfers £ £ Fixed assets 1,309,092 - Consortium Service funds 34,211 - IT infrastructure and equipment fund 15,000 - Healthwatch 23,172 - Circle Redevelopment Fund 31,000 - COVID recovery fund 25,000 - _ _ 1,437,475 - _ _	Utilised/ New realised Designations £ £ - 46,100 - - - 5,387 (10,478) - - - - 12,000 _ _ (10,478) 63,487 _ _ Utilised/ New realised Designations £ £ - 101,362 (19,986) - - - - 18,354 (11,067) - (25,000) - _ _ (56,053) 119,716 _ _	Balance at 31.03.23 £ 1,456,554 14,225 20,387 31,048 19,933 12,000 __ 1,554,147 ___
		Balance at 31.03.22 £ 1,410,454 14,225 15,000 41,526 19,933 - __ 1,501,138 ___

Fixed assets are funds which represent the net book value of the fixed assets (£1,904,000) less the amount outstanding on the mortgage relating to the building (£436,769) and the amount committed to eliminating the deficit on the pension fund (£10,677). See note 26 for more details of the pension deficit payments.

Consortium Service funds are funds donated to Voluntary Action Sheffield by Sheffield Cubed as part of the agreement to transfer a significant proportion of their undertakings to VAS. The Board have decided to designate these funds in order to cover the cost of making the Consortium Service viable.

IT infrastructure and equipment fund is a fund to cover the cost of new/updated databases identified by the Trustees as required to improve the communication facilities at VAS.

Healthwatch is funds set aside to cover additional staff costs for the Healthwatch function.

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

21. Designated funds (continued)

Circle redevelopment fund is a fund set up to cover the cost of developing facilities at The Circle in order to continue to attract room hire customers.

COVID recovery fund was set up in recognition that COVID 19 would continue to impact on income levels into 2021-22 and that government funding was unlikely to be available at the same levels as it was in 2020-21.

Strategic Review Fund is a fund to cover the cost of a strategic review to be carried out in 2023.

22. Analysis of Charity funds balances between net assets as at 31 March 2023

Unrestricted
Funds
£
Fixed assets
-
Current assets
520,616
Current liabilities
(120,842)
Creditors: amounts falling due
in more than one year
-
_
399,774
_
Prior Year analysis – for comparison
Unrestricted
Funds
£
Fixed assets
-
Current assets
452,480
Current liabilities
(95,281)
Creditors: amounts falling due
in more than one year
-
_
357,199
_

Designated
Restricted
Funds
Funds
Total Funds
£
£
£
1,904,000
-
1,904,000
97,593
1,476,586
2,094,795
(80,472)
(26,550)
(227,864)
(366,974)
-
(366,974)
___
_
__
1,554,147
1,450,036
3,403,957
___
_
___
Designated
Restricted
Funds
Funds
Total Funds
£
£
£
1,935,000
-
1,935,000
90,684
975,600
1,518,764
(83,472)
(72,695)
(251,448)
(441,074)
-
(441,074)
___
_
__
1,501,138
902,905
2,761,242
___
_
___

23. Statement of movement on unrestricted reserves Balance at 1 April 2022 Net movement in fund Balance at 31 March 2023	General Designated reserve reserves £ £ 357,199 1,501,138 42,575 53,009 _ __ 399,774 1,554,147 _ __

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

24. Obligations under operating leases

At 31 March 2023, the total of future minimum lease payments under non-cancellable operating leases for each of the following periods are as follows:-

not later than one year later than one year and not later than five years later than five years	2023 £ 1,622 3,308 - ______	2022 £ 1,996 166 - _____

These payments relate to two photocopiers at The Circle.

25. Commitments

As at the year end, VAS had capital commitments outstanding of £nil (2021: £nil).

26. Pension costs and liabilities

SCHEME: TPT Retirement Solutions – The Growth Plan

VAS participates in two pension schemes – a defined benefit scheme and a defined contribution scheme. They are both with The Pension Trust (TPT) and are part of their Growth Plan Scheme. The defined benefit scheme is closed to new members and to the accrual of benefit by existing members. The only payments to this scheme therefore relate to the funding deficit, details of which are given below.

Defined Contribution Scheme

For the defined contribution scheme, VAS paid contributions at the rate of 6% during the accounting period and members paid contributions at rates between 1% and 11% during the accounting period. As at the balance sheet date there were 50 (2022: 40) active members of the Plan employed by VAS. VAS continues to offer membership of the defined contribution scheme to its employees.

Defined Benefit Scheme

The defined benefit pension scheme that VAS participates in is a multi-employer scheme which provides benefits to some 638 non-associated participating employers. It is not possible for VAS to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

26. Pension costs and liabilities (continued)

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

£11,243,000 per annum (payable monthly and increasing by 3% each From 1 April 2019 to 30 September 2025: on 1st April)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

When an employer withdraws from a multi-employer defined benefit pension scheme which is in deficit, the employer is required by law to pay its share of the deficit, calculated on a statutory basis (known as the buyout basis). The calculation basis that applies to the Growth Plan was amended due to a change in the definition of money purchase contained in the Pensions Act 2011 and therefore Series 3 liabilities have to be included in the calculation of an employer’s debt on withdrawal.

VAS has been notified by the Pensions Trust of the estimated employer debt on withdrawal from the Plan based on the financial position of the Plan as at 30 September 2022. As of this date, the estimated employer debt for VAS was £93,094 (2020: £261,807, 2021: £162,107).

The present value of the deficit repayment provision and the rates of discount used are as follows:

	31 March 202331 March 2022 31 March 2021	31 March 202331 March 2022 31 March 2021	31 March 202331 March 2022 31 March 2021
Present value of provision (£)	10,677	16,748	73,666
Rate of discount (% per annum)	5.52	2.35	0.66

VOLUNTARY ACTION SHEFFIELD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023

26. Pension costs and liabilities (continued)

Reconciliation of opening and closing provisions

	2023	2022
	£	£
Provision at start of period	16,748	73,666
Unwinding of the discount factor/ impact of any change in assumptions	316	425
Deficit contributions paid	(6,102)	(18,642)
Impact of changes in assumptions	(285)	(385)
Amendments to contribution schedule – revised recovery plan	-	(38,316)
	_	_
Provision at end of period	10,677	16,748
	_	_
Disclosed as creditors:
Due in less than one year	6,102	6,102
Due in more than one year	4,575	10,646
	_	_
	10,677	16,748
	_	_

VOLUNTARY ACTION SHEFFIELD

TRUSTEES’ ANNUAL REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

APPENDIX A – ORGANISATIONAL STRUCTURE 2022/23 (as at 31.3.23)

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Board of Trustees
Audit and Risk
Committee
Healthwatch Advisory
Board
Chief Executive
Director of Operations
Director of Strategic Partnerships
Healthwatch Head of SY-NC Head of HR Head of Head of
Chief Volunteering Strategic Facilities Finance
Officer Lead
Communications
Manager
Health and Healthwatch SPRING/ New SY-NC Professional The Circle
Wellbeing Team Beginnings/ Team Services reception
Team Volunteer and
Centre services
team
Development
Team inc
Lunch Clubs,
HAF training
and Food
Coordinator
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