VOLUNTARY AcfioN- LEEDS Charlty Reelstratlon No. 225863 Company Regi5tratlon No. 00555150 TRUSTEES, REPORT AND FINANCIAL STATEMENT5 For the year ended 311t March 2024
VOLUNTARY AcfioN- LEEDS Annual report and linancial statèmènts for the year èndèd 31, March 2024 Contents Page: Legal and administrative inforrnation Report ol the Trustees io Statement of Trustees. responsibilities li Report ol the independent auditor5 14 Consolidated statement of financial activities (incorporating statutory income & expenditure account) Is Balance 5heet5 16 Cash flow statement 18 Notes to the financial statements
VOLUNTARY ACTION. LEEDS Legal and adrninistrative informatlon TRUSTEES LA Ever5 D J Boutle Ireslgned 27109n0231 A N Curtls ProfessorT M Devinney Ire51gned ii/osn0231 C N Hollins P L3ndey WTan8en {aPpnted 27110120231 N Mort (resigned 27109120231 E Barrow C Ineson SJo5e (appointed D5110120231 Londo J E Tomlin L Whitton S J Ro8Èr5 E Holme5 J A Hlll Ireslgned 09105120231 A M Edwards R E Robinson CW Dlckinson Iresl8ned 02102120241 Franklin (appointed 22105120231 Senior Man3gernent'. H Billey (Chlef Officerl C Savryer15trate8ic Finance Manager) R Warrington (Social Action Man4erl COMPANY SECRETARY H Balley REGISTERED OFFICE Strin8er House 34 Lupton Street Hunslet Leed5 LSIO 2QW REGISTERED COMPANY NUMBER Lh)SSS150 (England and Wales) REGISTERED CHARITY NUMBER 225863 INDEPENDENT AUDITORS Thomas Coombs Llmited Statutory AudtOr Chartered Accountants 3365 The PÈntègon Century Wav Thorpe Park Leeds West Yorkshire LS15 8ZB
VOLUNYARY ACTION- LEEDS Report of the Trustees for thè yèar ended 31" March 2024 The trustee5 who are 8150 directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements ol the charity for the year ended 31st March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in atcordance with the Financial Reportin8 Standard applicablé in the UK and Republic of Ireland IFRS 1021 leffective l January 20191. OBJECTIVES AND ACTIVITIES Objertives and activities for publlc benefit VA-L receives fundlng from Leeds City Council and other statutory bodies as well as from trusts and other charities from time to time. It generates other revenue by social enterprise activities Iselling certain service5 and products), by project management activity on behalf of statutory bodies, and by membership fees and individual donations. The object5 of the charity. a5 defined in the Memorandum of Association, are.. To promote, assist and encourage social service and all or any purposes for the benefit ol the cornmunity in the city of Leeds which now are or hereafter may be deemed by law to be charitable In particular by assisting the work of Statutory Authorities and Voluntary Organisation5 engaged in advancing education, the furthering of health, relieving poverty, distress and sickness or in pursuing any object which now or hereafter may be deemed by the law to be charitable. Voluntary Action- Leeds exists to 5UPPOrt and build the capacity of other third sector organi53tions in the Leeds area. To this end we provide a variety of setvices and resources. These include trainSn& volunteerlng lincludlng brokering, development and support), small group development work, a communicatSons service Ilncludlng a website, information service, an elettronic newsletter and marketinglpublioty support), a p3yroll Service. facilitation of strateEiC representatlOD and engagement Iboth overall and within thematic groupings e.g Funding, Children, etc,) and rnana8ement ol a rallge of projects which fit within our overall aims. Our work can be summarised under the nationally-delined live core functions of a Council for Voluntary Service, which are Service Provision, Liai50n, Representation, Development, and Strategic Partnerships. We have been offering these and similar Services since 1945. and we are an acknowledged source of 5UPPOrt and information for and on the third sector in Leeds. Significant artivities Voluntary Action Leeds is in the first year of our current strate8ic plan with a three year vision of being the key strategic provider ol Support and Development service5 for the Third sector, whilst also demonstrating stron8 and effective Civic Leadership. Offering services which meet the primary needs identified by thlrd sector or8anisations of all sizes, but also including a relevant offer to the statutory and private sectors. As mentioned above we continue to provide a range of serviees underthe key teams. these are.. Supporting organisations le.g. training. organisational support and development) Supporting the sector le.g. networklng, shared voice, strategic representation) Operations le.g. room hire. membershSp. hr support) These are explained in more detail in 'achievement and performance, section of the Report of the Trustees. Grantmakin8 Grants made from VA-L'S own resources IStrin8er Grants) are paid out of interest earned on quoted investments held by VA-L. No Stringer grants were awarded this year.
VOLUNTARY ACTION- LEEDS Report of the Trustees forthe year ended 315t March 2024 Icontinuedl ACHIEVEMENT AND PERFORMANCE Chairs tomments The report is a rnoment to reflect on the challen8es and opportunities of the yeargone by, not just forvoluntary Action Leeds. but the wider sector and our impact on the citizen5 01 Leed5. The year. once again. has been, a challenge financially. However, the resilience of the sector is evident in the way that infrastructure oryanisations are eoming together to innovate and collaborate to ensure continuity and the future sustainability of the sector regardless of the challenge5 that may lay ahead. Voluntary Action Leeds is committed to maintèining the stability of our organisation. We are fortunate to have a dedicated and dynamic workforce of staff and volunteers that are committed to our member organi5ations, the networks we support and the communitles we serve. We benefit from well established, trusted. relationships with partners not just acros5 the city, but across West Yorkshire and with Local Authority, natlonal statutory organisatlons and funding bodies. The significant activltles section of the Trustees report highli8hts sotne incredible work that has been achieved in the last year and summari5es how we have deliVed on our strategic objectives.
VOLUNTARY ACTION. LEEDS Report of the Trustees forihe year ended 3111 March 2024 Icontlnuedl SignillcantAttiv4tiÈs Our Services During 2023124 our core infrastructure servSces constStuted a slgnificant element of our day-to-day delivery, and we also continued to respond to the legacy of the Covid pandemic and the continuing cost of living crisis. VAL'S support and facilitation of the Leeds Community Anchor Network ILCANI, continued and as of December 2023, investment from the National Lottery Community Fund's p3rtnerships prograrnme will be supporting the infrastructure of the network for the next three years. The Network of locally rooted, trusted or8anisation5 has grown to numberthirty organi58tions supporting local ecosystems of groups and organisations working with communities across all thirty-three of the city's electoral wards. Working with LCAN has enabled us to work responsively with statutory partners to respond to the ongoing COSt-of-living ¢risis.' this has included managing grant5 from Leeds City Council and on behalf of the West Yorkshire Mayor to distribute funding to groups involved in supporting communities in the face of the crisis, through the Household Support Fund and the ongoing development of the civs Welcome Spaces network over the winter. A brief description ol our full range of service5 15 included below, broken down by team, then individual Service / project.. SUPPORTING ORGANISATIONS This tearn aims to provide support to individual VCSE organisations through a package of services.. GTtsUP Support Provision of one-to-one support le.g. fundralsing and governance advicel to VC5E groups in Leeds. Training Provision of relevant trainlng linked to the prlorltles of VCSE organlsatlons Leeds, including bursarie5 (paid from reserves) for groups with an annual income of below £20,000 per year, Volunteering Management of Volunteer Centre Leed5 based in Kirkgate Market, which rnatches individuals to volunteering opportunities and provides and advice and support to organisations in finding and working with volunteers using a range of Methods including online Ivia the Be Collective platform) and outreach in communities. We also facilitate and support the Leeds Volunteer Manager5 Network, which enables peopl& working with volunteers to come tO8ether, share best pr£etice and jointly shape solutions. In October 2023 the Network launched the citywide Leeds Volunteeririg Strategy. which sets out a number of prioritie5 to enable us to achieve the soal of LeEd5 being the best city for volur)teering. We also have several discreet, time Ilmlted prolects wlthln the Volunteerlng Team Including.. Giving Time - SUPPOTting those managing criminal histories into volunteering to address Issues of social inclusion, increase ernployability and to reduce reoffendin8. This long-running project ended in late 2023, following nine years of investment from the National Lottery Communlty Fund. Amicable- a positiv& legacy of the Giving Tirne project. this new work commenced in the autumn of 2023, and involves working with academic researchers from the univeIty of York and local infrastructure organisations in other parts of the country (Cheshire, Doncaster and Durham). Applying the learnlnE and approaches developed through the Giving Time project, infrastructure partners will be supported to develop volunteering projects centred around peer-to-peer mental health support within the prfson estate. Community Champions originally developed during the pandemic to support volunteers in the citws diverse communities to deliver accurate, positive and up to date health messages. this project evolved to locus on broader health and wellbein8 messages (funded by ICC Public Health and delivered in partnership with Forum CentraS1. Research and evaluation Leading on the production of comrnunity-based research, working with a range of partner5 including Leeds City Council. This developing service Continued to expand its portfolio of projects and support to the sector in 2023124, including undertakin8 the analysis and evaluation of a pilot'listening exercise. with communities delivered by Community Anchors in three areas of the city a5 part of the Health Foundatlon-funded Goodjobs, 8etterHealth, Foirer Futures project.
VOLUNTARY ACTION- LEEDS Report of the Trustee5 for the year ended 31st March 2024 Icontlnuedl SUPPORTING THE SECTOR Thi5 team airns to 5UPPOrt the VC5E sector strategically through a package of support including.. Thlrd Sector Leeds ITSLI Supporting the VCSE Assembly for Leeds* giving the VCSE a united volce and influence at strategic level- during 2023124, TSL led work to develop a new Third Sector Strategy for the city. Launched in October 2023, the Strategy sets out a clear visSon for citywide commitment to the resilience of the sectorto enable communitye5 to thrive. Leeds ACTSI Supporting Academic Collaboration with the Third Sector IACTS11 through buildin8 relationships between researchers. charitie5, voluntary and comrrunity organisations to fosterjoint working for the benefit of the communities of Leeds. Leeds Culturally Dlverse Hub Supporting the forum of groups, or8anisatSons and people from culturally diverse communitles tacklSng racSal Snequalities. A key role for the Hub is to act as a critical friend to Leed5 City Council and other key stakeholders, provldlng feedback on services and proposed developments along with solutions and new ideas. Leeds Crime Reductlon Network Supporting the forum for organisations working to support both the victims and perpetrator5 of crime to help create safer communlties by dlscussing shared issues and developing shared solution5. Young Lives Leeds IYLLI Supporting the forum of VC5E organi5ations that work with children and youn8 people in Leeds,. providin8 Strate8lC representation. influence. information and support to the VC5E. Climate Action Leeds Leading a partnership of six or8anisations in a fivè-year, £2.Sm programme aSmed at creating a zero-carbon, nature friencjly, socially just Leed5 by the 2030's through 5UPPQrtin8 communlties to undertake activities to reduce the negative Impacts of climate change, city movement buildln8 and sector and eampaign support. OPERATIONS Admlnlstlation and Building Management A package of service5 Imostly char8eablel offered to 8 ran8e of customers Sncludlng.. Grants Management- administering grants pots on behalf of funders le.g. Leed5 City Counal and Wades Charityl. VAL Membership Ifreel- guiding the direttion of VAL'S work and keeplng us accountable. VAL Essentials - a paid for package of discounts and offets tiered according to organi5ational income le.g. trainin& payrolli job advertising.) Room Hire- hire of meeting roorns15pace at Strin8er House Tenancy- renting out space in Stringer House on a lon8er.temi basis.
VOLUNTARY ACTION- LEEDS Repgrt of the Trustees lor the year ended 311t March 2024 Icontlnuedl Communications Provision of a package of cornmunic3tions and marketing support including regular e-new51etters. social media. degign, training, and inftsrmation. We also manage and maSntain www.doln oodleeds.or .uk which is the social action portal for Leeds. Payroll Provision of a comprehensive payroll service for VC5E organisations in Leeds and beyond. Recruitment servlct Provision of an end-to-end recruitment service forVCSE organisations in Leeds. FINANCIAL REVIEW Principal funding sources Core funding for Services work., Leeds City Council Citizens and Commurnities Development lfvnding for Small Group Development, Communications, Volunteerin8 and ThSrd Sector Leed5 and Culturally Diverse Hub). Project funding.. Leeds City Council Children's Services Department Ifunding for Young Lives Leeds) The National Lottery Community Fund Reaching Communities (Giving Time Adult Projectl The National Lottery Community Fund-climate Fund Action Leeds City Council- Household Support Fund Leeds City Council- Warm Space5 Fund The National Lottery Community Fund- Leed5 Cornmunity Action network Change Warm Space5 fund to Welcome Spaces Fund Other project fundin8 is detailed on note 4 of the financial statements VAL'5 own income generation.. Advertising. subscriptions, tralning courses, payroll serwces, etc. Tenancy and Room Hire income VAI Essentials fees eank interest and investrnent income. Investment Polity The trustee5 have considered the most appropriate policy for the investment of funds and have dècided to invest th@ funds that are unlikely to be needed in the Short to medium term Itirca £180,0(M)l in an investment account with our stockbroker5- Redmayne Bentley- in the expectation of generatinE better returns over a 5 to 10 year period. Funds that may be required In the short to medium term but are not required for immediate working capit31 purposes are invested in a COIF Chèrity Deposit fund. At 31 Marth 2024 funds are invested in a COIF Charity Deposit account, an investment account with Redmayne Bentley and a specific inve5trnent in permanent interest bearing shares in Leed5 8uilding society held via Redmayne Bentley. In accordance wlth the Trustee Act 2000. the trustees continue to review their investment policy to ensure that the maximum investment returns are achleved, whilst not compromising the operational requirements and having regard5 to the acceptable level of investment risk. The charity looks to invest its funds ethically in accordance with our alms and objectives together with sensitivity to SOC131 and environment issues. Review The financial statements comply with the Companies Act and the Statemént of Recommended Practlce on Accounting by Ch3ritie5 ènd the conditions in the Company's Memoiandum and Articles of Association. The movement in funds is shown on the Statement of Financial Activities on page IS.
VOLUNTARY ACTION- LEEDS Report of the Trustees for the year ended 31st March 2024 Icontinuedl The financial results of the Charity are shown in the annexed Financial statements. The defiot of total income over total Èxpenditure and1955es on investments was £296,91312023 surplus.. £250.6861 for the year. Overall Charity Income in the year was £2,543,50612023.. £2.538,3881. Overall expenditure on Charitable activities in the year was £2.851,76612023: £2,264,055). Thls is mostly explained by the increase in partner organisation pass through funding cost5 of £411,647 mostly related to the Household Support Fund and Welcome Spates fund. The remaining is caused by an increase in staff costs 01 £60.134. Trading Subsidiary The wholly owned 5ub5idiary carrles on the business of the provision of the payroll bureau services and other income geneoting activities. The cornpany generated a trading profit of £20,89912023.. £5441 which it donated to the charity by Gift Aid. Reserves Policy The trustees consider it prudent to hold an adequate level of fSnancial resernes in order to enable the continuation of activitie5 in the event of a drop in funding, to allow alternative fundin8 to be50ught, to enable the charity to take advantage of anyfunding opporrunlties which might require an initial outlay* to dernonstrate to potential funders that resources are being managed effectively. to meet cash flow requlrement5, meet contractual liabllitles should the charity have to close. and to meet unexpected costs such as le8al costs, and staff cover for illness, maternity and paternity leave etc. In order to do this, the trustees consider it prudent that unrestricted reserves should be Sufficient to cover running Costs for minimurn of 3 months16 months Ideally) and the amounts held as desSgnated reserve5. Based on the above policy the target level of reserves as at 31st March 2024 wa5 £324,8001£649.600 ideally). The actual level of free reserves was £486,953 together with designated funds of £50.000 for a redundancy and restructuring reserve, £19.500 for building and ff works and trading company funds of £41,480. FUTURE PLANS Plan5 foi the Future We have recently reviewed and refreshed our organis3tional Strategy to guide our work over the next three yea. Feedback from Staff and trustees has indicated a continuation of our directlon of travel a5 an organisation. so whilst the new document is not a radical departure from our existing strate8y, It does represent an evolution. Our vision is that there is a thriving voluntary and ¢ommunitV sector Sn Leeds, whlch works wlth communities to enable positive Social action. Our mission is to strengthen and champion groups, organisations and movements to lead on achieving positive social change. To dèliver our organisational vislon, we focus on four strategic prioritie5 to guide and inform our work, underpinned by our organisational values of equityj diversity and accountability.. Working to enable voluntary and community 8roups and organisations ta be 5UStainable. resilient and well-led. Providing platforms for the voice of voluntary and comrnunity8roups and organisatlonsto be heard and have influence. Championing community-led activity and solutions across the city. Maintaining the stability of our own organisation so we can continue to deliver our prSorities. We are a pgsltive or8anisation and demonstrate our values by worklng in the following way5.. We do what we say we will- and if we can't, we explaSn why. We are flexible and responsive when things change. We play our part in tackling systemic disadvantage and inequality. We are innovative and look for solutions to how we can collectively address complex issues. We seek to use our position to be an ally to marginalised groups and communities- and want to leam how to do this well.
VOLUNTARY ACTION- LEEDS Report of the Trustee5 lor the year ended 3111 March 2024 Icontlnuedl We are innovative and look for solutions to how we can collectively address cornplex issue5. We seek to use our posltion to be an ally to rnarginalised group5 and communities- and want to learn how to do this well. We value collaboration over competition by working in partnership wlth others. We believe iri 'generous leadershlp'_ sharin8 our know5edge and expertise- and entoura8e others to work in this way. We engage with a diverse range of voice5 and perspedives to shape our work and direction. We believe people's lived experience should be central to developing solutions to complex issues. We work as a team- within VAL the groups and organisation5 we work with, and with strategic partner5. Our place 8nd rDle in the city.. In delivering on our strategy, we recognise that the world we live in is complex and fast-changing. We seek to use the experience of the parsdemic to advocate for community-led solutions to challenges and opportunities. We want there to be a positive legacy from the ciws response to the Covid crisis a response founded on trust. care lor others, collaboration and creativity. We believe thi5 approach needs to inform how we work as a city and our continuin8 response to the inter- linked challenges of the climate crisis, economic, social and health Inequalitie5, We commit to working In partnership with other key organisation5 In the city providing infrastructure services to ensure a coherent offer and best use of our shared resources. Through our work wlth group5 and organisation5 acr05S the city we have a unlque InsSght and perspective which we seek to share to deliver our overall mission a thriving voluntary and comrnunity sector in Leeds. which works with communities to enable positive social action. ow we approach challenges and opportunities.. We recognise that the operating environment is challenging lor voluntary and cornmunity group5 and organisations and our public sector partners. We want to respond to this by exploring new opportunities to ensure voluntary and community groups and orBanisations have influence, access to new partnership5 and funding opportunitie5. Our energy wlll be focused on the followin8 opportunitles-with Il&xibility as new challenges and opportunities emerge.. Devolution and the West Yorkshlre Mayor. The prlvate sectorfs comrnitment to soclal value. Continuing to focus on the value of comrnunity-led solutions. In recognition of our key role in the city, we commit to sharing the overall impact our work has had through publication of an annual report as a keypart of reviewing ourstrategy on an ongoing basis. We also commit to regularlysharing our work, progress and impact through creative routes including social media, case studies and blog5. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity 15 controlled by its 8overnin8 docurnent. a deed of trust, and constitutes a lirnited tompany. limlted by guarantee, as defined by the Companies Att 2(X)6. The legal status of Voluntary Actlon- Leed5 IS that ol a Company Limited by Guarantee established in 1955. The company is registered as a charity underThe Charitles Act 2011 and is governed by its Memorandum and Articles. At 31st Mawh 2024 there were 324 members whose liability is limited to £1 each In the event of the liquidation of the company.
VOLUNTARY ACTION- LEEDS Report of the Trustees for the year ended 31$1 March 2024 Icontrnuedl Recrultment and appolntment of new trustees Detai5$ of the Trustee5 who have served during the year are listed on page l. The directors of the charitable company are also its trustees forthe purposes of charity law and sit on the Trustee Board. As Set out in the Articles of Association the directors are either appointed by the Trustee 8oard durSn8 the year or nominated at the Annual General Meeting. All new appointments are subject to approval by members at the Annual General Meeting. The Trustee Board shall be composed of Sndividuals on a three year rotation selected for their abilities to manage and for the expertise and commitment they are able to Eive to the company. The Trustee Board shall be at least three and no more than eighteen people, in¢ludiFig up to S co-optees. Organisational Structure VAL Is governed by its board of Trustees Icornposition explalned above). Tre Chief Officer is answerable to theTru5tee Board. There are three operational tearns. Supportin8 the Sector, Supporting Organisations and Operation5. These teams are headed by senior rnanagers, who report to the Chief OfFicer and are responsible for the day to day supervision of employees. Indtsction and training of new trustee5 Trustees receive a full Trustee Handbook, which is updated annually. containing briefings on legal responsibilities, detail of the organisation's structure, work and plans. and other relevant information. They are offered an induction visit and disCUS5ion5, and are required to Complete a training needs audit form, a checklist to ensure that they have received all the information/training they need. and a trustee agreement and eode of conduct for board member5. Key management remuneration The trustees consider the board of trustees, the Chlef Officer and Strategic Finance Man3ger 35 compri5inB the key rranagernent personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactlons are disclosed in notes 9 and 17 to the accounts. Remuneration is based on National Joint Councll Local Authorlty pay grade scales. Trustees are required to disclose all relevant intere5t5 and register them with the Chlef Officer and In accordance with the Charlty's polScy to wlthdraw from deci5i9n5 where a conflict of interest arlses. Related partie5 The charity's wholly owned subsidiary, VA-L Trading Llmited provldes a payroll bureau service and other income generating activities. The subsidiary gift aids Its profits to the charity. see note 5 to the financial statements. Any individual with an interest in a matter being discussed at a meeting must declare the interest to the meetin8. The chairman of the meeting will then decide whether that individual should withdraw during the discussion and, if not, whether the individual should be entitled to vote on the matter under discussion Transactions related to Trustees are detailed in note 9 to the financlal statements. Risk management The Trustees have reviewed their strategy for rlsk management in accordarTrce with the requirements of the Statement of Recommended Practice on Accounting and Reporting by Charities. The major rlsks were Identlfled and approprfate action taken to minimise each of the risks. ACCOUNTABILITY UNDER PUBLIC BENEFIT REQUIREMENTS In accordance wlth their duties pursuant to section 4 Charitles Aet 2011. the Trustee5 have considered the Charity's objects and activities in li8ht of the Charity Commission's general guidance on public benefit, 'Charities and Public Benefit.
VOLUNTARY ACTION- LEEDS Report o*the Trusiees for ihe year ended 31" March 2024 Icont5nuedl In relation to the first limb of the publlc benefit test set out in the guidance, the objects are defined in the Mernorandum of A5SOCiation and the trustees are satisfied that each of these is of benefit to the public, The Objects emphasise the role of soclal service to the comrnunity of Leed5, along with the role of Statutory Authorities and Voluntary Organisations in order to advance education, the furthering of health, rellevin8 poverty, distress and sickness. This is of considerable value to the public, for a number ol reasons, including the provision of advice, support and services to over 2,000 third sector groups all ol whom, in turn, provide support to those most in need in the general community. In relation to the second limb of the tesL the trustees ensure that the public at large benefit from the actlvities of the charlty and that there is no private benefit, incidental or Othenlse. By the nature of the objects. the work perforrned by the charity supports the community at large. This can be seen by the successes that have been achieved in the year, including the SUPPOTt of over 11,000 volunteers in Leed5 and the ongoing development of the strategic networks, which offered facilitation, support and information to hundreds of third sector in the year. The trustees regularly keep the activitie5 the ch3rity under review, to ensure that they are of sufficient benefit to the public. STATEMENT OF TRUSTEES, RESPONSIBILinES The trustees (who are also the directors of Voluntary Action- Leeds for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accountlng Standards Iunlted Klnedom Genernlly Accepted Accounting Practicel. Cornpany law require5 the trustees to prepare financial statements for each flnancial 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 that perlod. In preparlng those financlal statements, the trustees are requlred to Select suitable accounting policies and then apply them consistentlyt observe the methods and principles in the Charsty SORP., make judgements and estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business, The trustees are rèsponsible for keeping proper accounting records which di5c105e with reasonablè accuracy at any time the financial position of the charitable company and to enable them to ensure th3t the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charltable company and hence for taking reasonable steps for the prevention and detection of fraud 3nd other irregularities. In so far as the trustees are aware-. there is no relevant audit information of which the charitable company's auditors are 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 auditors are aware of that information. AUDITORS The auditors, Thomas Coornbs Limited, will be proposed lor re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on IS, August 2024 and signed on its behalf bv.. S Rogers- Trustee 10
VOLUNTARY ACTION- LEEDS Independent zuditorg report to the members of VOLUNTARY ACtION- LEEDS Opinion We have audited the financial statement5 of Voluntary Action- Leeds for the year ended 31, March 2024 which comprisè the Group Statement of Financial Activities, the Group and the Parent Charitable Company Balance Sheet and the Group Cash Flow Statement and the related notes. The financlal reporting framework that h35 been applied in their preparation is appIlble law and United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting Prarticel including FRS 102 'Yhe Financial Reporting Standard applicable in the UK and Republic of Ireland. In our opinion the financial statements.. give a true and fair view of the state of the group's and of the parent tharitèble tompanvs affairs as at 311t March 2023, and of the group's Sncomlng resources and application of resources, includin8 its income and expenditure. for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practite,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for oplnion We conducted our audit in accordance with International Standards on Auditln8 IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs 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, Sncludlng the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilitie5 in accordance wlth these requlrements. We belleve that the audir evldence we have obtained is sufficient and appropriate to provlde a basis for gur opinion. Conclusions relating to going concern In auditlng the financial statements, we have toncluded that the trustees, use of the going concern basis of accounting in the preparation of the flnancial statements 15 appropriate. Based on the work we have performed, we have not Identified any material uncertainties relating to events or condition5 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 month5 from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the tru5tee5 Wlth respect to 8oin8 concern are described in the relevant sections of this report. Other informatlon The other inlorniation comprises the information Included in the trustee5 annual report2. oth£r than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report2. 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 re3d 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 course of the audit or otheNlse appears to be materfally mSsstated. If we identlfy suth material Inconsistencies or apparent material misstatements. we are required to deterrnine whether this gives rise to a material mi5Statement in the finanoal statements themselves. If, based on the work we have performed, we conclude that there is a material mi55tatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on othèr matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken In the course of the audit: the information given in the trustees, report lincorporating the dirertors, report) for the financial year for which the financial statements are prepared is consistent with the financial statement5,' and the directors, report ha5 been prepared in accordance with applicable legal requirements.
VOLUNTARY ACTION- LEEDS Independent auditors, report to the members ofVOLUNTARY ACTION. LEEDS Matters on which we are required to report by exceptlon In the light of our knowledge and understanding of the group and parent charitable company and its envSronment obtained in the course ol the audit, we have not identified material misststements in the d1CtOrS, report. We have nothing to report in respect of the followin8 matters where the Companies Act 2006 requires us to report to yoy if. in our opinion.. the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us.. or the parent charitable company financial statements are not in agreement with the accounting records and returns,. or certain di5closure5 of Tru5tees' remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit; or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption from the requirement to prepare a Strategic report. Responsibilities of Trustee5 As explained more fully in the Trustees. responsibilities statement, the Trustees Iwho are also the directors ol the charitable companyforthe purpose5 01 company lawl are responsible for the preparation of the financial statements and forbeing 5at15fied that they give a true and fair view. and for such internal control as the Trustees determine is necessary to enable the prepar3tion of financial staternents that are free frorn rnaterial rni55taternent. whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charit8blè company's ability to continue as a going concern. disclosing. as applicable, matters related to going concern and using the goin8 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. Audltorf5 fesponsibllities forthe audit of the financial ststements Our objective5 are to obtain reasornable assurance about whether the financial statements as a whole are free from material misstatement. whether 15ue to fraud or error. and to Issue an auditorfs r&port that includes our opinion. Reasonable assuran Is è high level of assurance, but Is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect material mi55tatement when it exist5. Mi5Statements tan arise from fraud or error and are considered material il, individually or in the aggregate, they could reasonably be expected to influence the economic deci5ion5 of users taken on the basis ol these financial statements. Irregularities, including fraud, are instances of non-cornpliance with laws and regulations. We desi8n procedures in line with our responsibilities, outlined above, to detect material misstatements in respectof irregularities, including fraud. The extentto which our procedures are c3pable of detecting irregularities, including fraud is detailed below.. Our approach to identifying and assessing the risks of materlal mlsstatement In respect of irregularlties, including fraud and non-compliance with laws and regulations. was as follows.. 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 charity through discussions with management, and from our cornmercial knowledge of the sector. We focused on specific laws and regulations which we considered may have a direct material effect on the account5 of the operations of the Charity, including the Charities Act 2011. We assess the exlerit of compliance with law5 and regul3tion5 identified above through making enquirie5 of management and inspectin8 legal correspgnden£e. Identified laws and regulations are communicated within the audlt team re8ularly and the team remalned alert to instances of non-compliance throughout the audit. 12
VOLUNTARY ACTION- LEEDS Independent auditors. report to the members of VOLUNTARY AloN. LEEDS We 355essed the 5usceptlbi1Sty of the charity'5 financlal statements to material mi5StatemenL including obtainin8 an understanding of how fraud rnight occur. by.. Making enquiries of management as to where they considered there was susceptibillty to fraud, their knowledge of actual, suspected and alleged fraud. Considerin8 the Internal controls in place to mltlgate 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 identlfy any unusual or unexpected relationships. Identifled and tested journal entries and identified any si8nificanttransattions that were unusual or outside the normal course of business. Investigated the rationale behind significant or unusual transactSons. Challenged assumptlons and judgements made by management in determining significant acwuntin8 estimates. In response to the risk of Irregularities and non-compliance wlth laws and regulatlons. we dÈslgned audit procedures which Included, but were not limited to.. Agreeing flnancial statements disclosures to undedying supporting documentation. Discussions with management of know or suspected in5tance5 of non-compliance with laws and regulatlons Reading the minutes of meetln8s of those charged with 8overnance. Reviewing correspondence with relevant regulators Indudlng the Charlties Commisslon. At the completion stage of the audit, the engagement partnerfs review included ensuring the team had approached their work with appropriate professionèl scepticisrn and thus the capacity to Identify non-compliance with laws and regularions and fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance of laws and regulations is from the event5 and transactions reflected in the financial statements, the less likelywe would become aware of it. Also, the risk of not (Jetecting a material misstatement relatin8 to fraud is hiBher than the risk of not detecting one resulting from error, a5 fraud may involve deliberate concealment. A further description of our rE5ponsibilitles for the audit of the financial statements 15 located on the FlnancSal Reporting Council's website at www.fre.org.uk/auditor5responsibilitles. Thls descriptlon forms part of our Report of the Independent Auditors Use of our ieport This report is made solely to the tharitable company's members, as a body. in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable cornpanvs trustees, as a body, Part 4 of the Charities IAccount5 and Reports) Regulations 2008. Our audit work has been undertaken so that we rnight state to the charitable company's members those matter5 we are required to state to them in an auditors, 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 cgmpany's members as a body. forour auditwork, for this report, or for the opinions we have formed. c. Darw1 Christopher arwin FCA (Senlor Statutory Audltorl for and on behalf of Thomas Coombs Limlted Statutory Auditor & Chartered Accountants 3365 Century Way, Thorpe Park, Leeds. West Yorkshire, LSIS 8ZB Date.. 1Slh August 2024 13
VOLUNTARY ACTION_ LEEDS (Company number CpJ5551501 Consolidated statement otfinancial artiwtiesfN the year ended 3111 March 2024 lincorporatinE Statutory income & expenditure atcouthtl 2024 rotal lunds 2023 Totsl funds Unrestricted lund$ Restritted pass threugh fvndlng Restricted Other Notes INCOME AND ENDOWMENTS FROM Donation5 and leEacies 825 925 Grant5 and similar incom ?,)0 140.977 271,429 IA78,7S3 567.564 36,181 2.053.317 177,158 271,429 2.120.634 171,602 224,255 Provision of support services to Charle$ and 5 InvestrnÈnt income 40,777 40.777 20,972 Total income and Endowments 461.008 1,478,753 603.745 2,543,506 Z538.388 Expenditure on 388,631 1524,796 938,339 2,851.766 2,264,055 Total expEnditure 388,631 I24.?96 938.339 2.85L766 2.264,055 Net gains/l1055e510fi investments 11.3417 11,347 (23,6471 ET INCOMEI IEXPENDITUREI 83.724 146,0431 I33494} IZ96,9131 250,686 Tiansfers between fvnds 19 147.1521 1148,7681 19S.920 Net movement in funds 36,572 1194,8111 1138.6741 1296,9131 250,686 RECONCILIATION OF FUNDS Total fund5 broughtfnrward 1,047,S09 217,170 3Q6.511 1.571.190 1320,504 TOTAL FUNDS CARRIED FORWARD 1,084,081 22,359 167,837 1,274,277 1,57J,190 14
VOLUNTARY ACTION- LEEDS Icompany number 00555150) Consolidatsd Balance sheet at 3151 March 2024 Group 2024 Charity Note 2023 2024 2023 FIXED ASSETS TanEible assets Investments 12 13 486,150 228,810 496,228 209,660 486,ISO 228.812 496,228 209,662 714,960 705,888 714,962 705,890 CURRENT ASSETS Debtors Cash at bank and in hand 14 84,818 1,248,052 93,255 1,580.692 84.467 557,735 105,157 899,619 1.332,870 1.673.947 642.202 1.004.776 CREDITOR5 Amounts due withln one year 15 1772,7681 f806 965) 1123.5781 1179,272J NET CURRENT A5SET5 560,102 866,982 518,624 825,504 TOTAL A55ETS LES5 CIJRRENT LIABILITIES 1275.062 1,572,870 1,233,586 1,531,594 PENSION LIABILITY 20 17851 fi,680J 17851 11,680) NET ASSETS 1,274.277 L571,190 1,232,801 1.529,714 FUNDS Unrestrlcted funds Free Reserves Fixed asset reserves Other designated funds Trading company fund5 Restricted funds 19 19 19 19 19 486,953 486.148 69,500 41.480 19),196 440,301 496.228 69,500 41,480 523,681 474,459 486,148 69,500 440.3C13 496,228 69,500 202.692 523,681 TOTAL FUNDS 19 1.274,277 1,571190 1,232,801 1.529,714 The Tru5tee5 have prepared 8roup accounts in accordance with Sectlon 398 of the Companles Act 2006 and Sertion 138 ot the Charities Act 2011. Approved by the board of Trustees on 15th Au8USt 2024 and signed on its behalf by.. S RoEer5 ITru5teel A Curtls (Trusteel The notes on pa8es 18 to 36 form part of these financial statements. 15
VOLUNTARY ACTION- LEEDS Consolidated Cash Flow Statement For the year ended 31$1 March 2024 2024 2023 Note Cash flows from operatln8 a¢tlvltles: Cash generated froml (used in) operations 1358,9111 171,971 Net cash generated froml (used inl operating actlvlties 1358,9111 171,971 Cash flows fiom investing activities.. Purchase of tangible fixed assets Investment additions Investment disposal proceeds Interest received 12,0641 IS4.4141 46.611 36,138 13,4381 129,553J 4.744 17.596 Net cash lused inll generatèd from Investlng a¢tlvities 26,271 110.651) Change In cash and cash equivalents In the reporting period 1332,6401 161.320 Cash and tash equivalents at the beginning olthe reporting period 1580.692 1,419,372 Cash and cash equivalents at the end of the reportlng perlod £1,248,052 1,580,692 16
VOLUNTARY ACTION- LEED5 Consolidated Cash Flow 5tstement Notes For the yeai ended 31# March 2024 RECONCILIATION OF NET INCOMEIIEXPENDITUREI TO NET CASH FLOW FROM OPEK4TING AcfiviTIES 2024 2023 Net intomèllexpendtturel for the reporting period135 per the statement of fbnanctal actlvltlesl Adjustments foi: Depreciation char8es IGainl/loss on investments Interest received Interest paid Ilncreaselldecrease in debtors Increase/{decasel in creditors Difference between pension char8e and tash contribution5 1296.9131 250,686 12.142 111,3471 136,1381 65 8,437 134,1971 19601 12.698 23.647 117,596) (2,898) 193,611) 1960) Net cash geneiated froml (used Inl operatlng artlvltles £1358.9111 171,971 17
VOLUNTARY ACTION- LEEDS Notes to the financial statements for the year ended 31$1 March 2024 Atcounting Polities Basis of Preparation The financial st3tements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leflective l January 20191,, Financial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. The financial statements are presented in sterling which Is the functional currency of the charitsble company and rounded to the nearest £. The significant accounting policles applied In the preparatSon of these financlal statements are set out below. These policies have been consistently applied to all years presented unless Otherwise Stated. The financial statement5 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 authori5ing these financial statements. The budgeted income and expenditure 15 Sufficient with the level ol reserves IDr the ch3rity to be able to continue as a going concern. Basis of Consolidation The consolidated account5 incorporate the accounts of the Charity and its wholly-owned subsidiary undertaking. The Charity has taken advantage of the exemption allowed under section 408 of the Cornpanies Act 2006 and SORP 2015 and ha5 not presented its own Income and Expenditure account In these financial statements. A separate Statement of Financial Activities for the Charity is not considered necessary because the activities of the Charity and the wholly owned subsidiary undertaking are easily distinguished within the consolidated Statement of Financial Activities. Intome All income is included in the statement of financl31 activitie5 when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific polities are applied to particular categodes of Income.. Voluntary income is received by way of grant5, donations and gifts lincluding gifts in kindl. These amounts are included in lull in the Statement of Financial Activities in the year in which they are receivable. The value of services provided by volunteers has not been included. Grants, where entitlement is not conditional on the delivery ol a specific performance by the Charity. are recogni5ed when the charity becomes unconditionally entitled to the8rant. Where grants are received during the year in respect of future period5, the amount of the grant. which relates to the future periods is shown as deferred grants and is included within creditors. Grants. where the income Is related to performance and specific deliverables, a accounted for as the charSty earns the right to consideration by its performance. Income arising from grants and similar contracts speciflcally for the provision of activitles or services which are provided as part of the charitable activities of the company is recorded undèr the heading of incomSn8 resources from charStable activities. Expenditure Expenditure is recoEnised in the period in which they are incurred. Expenditure includes where relevant value added tax, which cannot be recovered under partial exemption rules, and is reported as a 5UPPOrt C05t. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directlytosuch activities and those costs of an indirect nature necessary to support them 18
VOLUNTARY ACTION- LEEDS Notes to the financial Statements for the year ended 3111 March 2024 Icontlnuedl Accountlng Pollclès (continued) Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and Include the audit fees and costs linked to the Strategic mana8ement of the charity. Allocation and apportlonment ol costs All costs are allocateil between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly while others a apportioned on an appropriate basis. The charity records the apportionment of Sndlrect costs via ihe charging of administration fees, internal rent and other rn8nagement Costs. Tanglble fixed a55ets Freehold land and buildings are shown at market value, all other tangible fixed assets are stated at cost less depreciaOn. Depreci3tion is provided at rates calculated to write off the c05t less estimated resldual value of each asset over its expected useful life as follows.. Fixtures, flttings and office equiprnent IO% to 33% straight line No depreciation is provlded on freehtsld land and buildings as the trustees consider any charge forthe year and anyaccumvlated depreciation to be Immaterial. The trustees have therefore performed an impairment review of freehold buildings, based on the year end valuation, and are satisfied that the open Market net realisable value for existing use is not materially different to the carrying value. Taxation A5 8 registered charity the company is exempt from taxation. The wholly owned trading subsidiary is subject to corporatlon tax on its taxable profits. Fund accounting Funds held by the charity are categorised a5 follows.. Unrestricted general funds are funds that ¢an be used for the oblects of the ehadty without further specified purpose and are available as general funds. Desl8nated funds are unrestricted fvnds earmarked by the trustees for particular purposes. Restricted funds are to be used forspecific purposes13id down bythe donor or specified in the reque5tforfunding by the charity. Expenditure that meets these criteria is charged to the fund. As part of the agFeernents with a number of fundin8 bodies. the charity charges a proportion of management and support costs to the restricted funds from those funding bodies. Investments Investments are included at the closin8 mid market value at the balance sheet date. Any gain or1055 on revaluation is taken to the Statement of Financial Activitie5. Debtors and rredttgrs recelvable I payable wlthln one year Debtors and creditors with no stated interest rate ènd receivable or payable within one year are recorded at transaction price. Any losses arising from impaimient are recognised in expenditure. 19
VOLUNTARY ACTION- LEEDS Notes to the financial statements forthe year ended 311t March 20241continued) Donatlons and legacie5 Unrestricted Funds Restricted Funds 2024 Total 2023 rotol Donations 825 825 925 £825 £825 £925 Total 2023 E925 £925 Irbvèstmènt Intome Unrestricted Funds Restricted Fund5 2024 Total 2023 rotol L)eposit account interest Listed investment income 31,858 8.919 31,858 8.919 13.316 7,656 £40,777 £40.777 £20,972 Total 2023 £20,972 £20.972 Income from Charitable Actlvltles Unrestrlcted Funds Restrlcted Fund5 2024 Total 2023 Total Grants Isee breakdown) 2 046 317 2 053 317 2 12Q 634 Secretarial fees Training fees Online job advertlsln8 Consultancy Other Income Stringer House rental income Room hire Mernbership subscription 4.961 37.119 4,961 38,019 26,830 31.518 4,347 35,064 23,498 2.364 40,556 31,500 38,164 1.105 27,125 19,602 900 26,830 6,402 1.945 25,116 2.402 35,064 23.394 104 177 158 171 602 £147,977 £2.082,498 £2,230,475 E2,292,236 20
VOLUNYARY AcfioN- LEEDS Notes to the financial statements for the yÈzr ended 31. March 20241continuedJ Income from Charitable Activltles Icontlnuedl Grants received, included in the above. are as follows.. Unrestrirted Funds Restricted Funds 2024 Total 2023 Totol The National Lottery Community Fund- Climate fund The National Lottery Community Fund Givin8 time adult project phase 2 The National Lottery Community Fund- LCAN Leeds City Council- Household Support Fund Leed5 City Council- Warm Spaces Fund Leeds City Councll- Infr35trurture Support Fund Leeds City Council- Community Care Hub Leeds City Council Youn8 Lives Leed5 Leeds City Councll-community Charnpions Leeds City Council- Neighbourhood Matching Leeds City Council-communlty Anchor5 Leeds City Council- Anchor Network Evaluation Leeds City Cournul- Safeguarding in Faith Leed5 City Council- Volunteerlng Report Leeds City Council- Listening EKerci5e Leed5 City Council- Black history Leeds City Council- Community Grant Awards Leed5 City Council- ABCD Event Leeds Community Foundation-Be Collectsve Forurn Central- Be Collective Forum Central-volunteer and Trustees Project Forum Central-culturally Diverse & Faith Groups W(PCC- Violence Reduction Unit5 Grant NAVCA-Cost of Living Fund Leed5 Cornmuriity Healthcare NHS Trust- Community Anchor Pllot WY LWAB Fundlng re Community Champlons Health Education England Circles of Life WYCA- Mayors Offlce- Crime Reduction Network Mayor-safer Communlties Fund Amicable Red Cross Societv 637,302 637,302 577,372 5L357 70,638 750.000 198,500 221.676 70.638 750,000 198,500 221.676 52Q,000 246.750 221,676 120,9Q9 73,100 59.059 45,000 22,QOO 15,925 15,500 3,SOQ 3,315 73,100 73,100 3,315 1.000 3,315 1,000 1,000 7,000 1,000 1,000 10.000 25.000 1.000 7.000 1,000 1,000 10,000 25.000 1,561 2,199 I,ioi io.(x70 20.000 55.000 43,927 10,373 14,127 6,140 26,519 14,127 G.140 26,519 6,000 6.000 £7,000 £2.046317 £2,053,317 £2.120,634 Comrnercial trading operatlons The charity has one wholly-owned subsidièry. VA-L Trading Limited Icompany No. 027093421, which carries on commercial activities that are ancillary to the operation of the charity. Retain in subsidiary 21
VOLUNTARY ACTION- LEEDS Notes to the financlal ststements for the year ended 31st March 2024 Icontinued) Commercial tradln8 operatlons l¢ontlnuedl A 5urnrnary of the trading results of the subsidiary is shown below.. Pioflt and loss account 2024 2023 Turnover Investment income Intercompany turnover Administrative costs 271.429 545 224.255 2.819 (226.53Q) 1251,0751 Operating profit 20,899 Gift aid obligation and donations to charity 120,8991 (5441 Total Resour$ Expended Direct Support Costs Inote 71 Costs (note 71 2024 Total 2023 Total Charitable actlv5tSes 2,601,236 250.530 2.851,766 2,264,055 £2,601.236 £250,530 £2,851,766 £2,264,055 Charitable Activities Direct costs Unrestricted Funds Restricted Funds 2024 Total 2023 Total Wages SocSal securlty Pension PPS and telephone Sundries Project deliverables Partner organisation pass through funding with Voluntary Action-Leeds as lead organisation Professional fees and IT Travel and subsistence Rent, rates, heat. power, insurance and recharges Repairs 18.604 55.152 40.185 296 1.080 16.507 624,709 643,313 5S,IS2 40,185 4,324 4,910 104,897 554,049 418,774 34,111 5,701 10,420 44,530 4,028 3,830 88,390 1,557,040 140,454 4.607 39,796 281 1,557,040 143,S49 4,859 42,726 281 1.113,149 87,958 4,482 34,061 18 3.095 252 2.930 £138.101 £2A63,135 £2,601,236 £1937,253 Total 2023 £228.423 £1.708,830 £1,937,253 22
VOLUNTARY ACTION- LEEDS Notes to the fSnancial statements for the year ended 3111 March 20241¢ontlnuedJ Charitable Activities Icontinuedl Support Costs Unrestricted Funds Restricted Funds 2024 Total 2Q23 Totol Wage5 Auditor5 remuneration Wages Social security Pensions Rent, rates, heat, power. irisurance and rechar8es PPS and telephone Sundrie5 Project dellverables Travel 3nd subsistence Professional fees, IT and recharges Repairs Pension unwlndSng interest Pension assumption amendments Depreciation ol tangible fixed assets Trading company operations 5,000 5,635 170,850 14.647 10,607 13,236 4,566 19481 11,1881 425 17,0441 6,197 64 5,000 5,635 170.850 14,647 10.607 13,236 4,566 19481 11.1881 425 17,0441 6.197 64 6,965 233.062 20,413 14.276 3.319 4,518 (1,951J 14.852 179 214 5,172 50 (45) 12,698 8,080 12,142 16,340 12.142 16,340 £250.530 £250.530 E326,802 Total 2023 E326,802 £326,802 Governance costs relate to wages and audltors remuneration and total £10,63512023.. £11,965). Net IncomellExpend5tuiel Net income/lexpend5turel Is stated after chargtn8llcreditingl'. 2024 2023 Auditors remuneration-charity Auditors remuneration-subsidiary Depreciation- owned assets 5.635 2,832 12,142 6,965 1,990 12.698 Trustees Rèmuneration and Beneflts There were no trustees, remuneration or other benefits for the year ended 31st March 2024 nor forthe year ended 31st March 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31st March 2024 nor for the year ended 31st March 2023. 23
VOIUNTARY ACTION- LEEDS Note5 to the tinancial 5taternents for the year ended 3151 March 2024 fcontinuedj 10 Staff Costs Group 2024 Gn)up 2023 Charity 2024 ChLFrity 2023 W3ges and salaries Social security Costs Other pension costs 849,163 69,799 50,857 792.111 69.187 48.387 849,163 69,799 50,857 792.111 69,187 48,387 £969,819 £909,685 £969,819 E909,685 The Charity considers its key mana8ement personnel comprise the trustees, th& Chief Officer and the Strategic Finance Manager. The total employrnent costs to the group of the key management personnel were £96,13712023.. £93,081), Reimbursed expenses. which are all sublect to the Charltvs processes of internal controls, do not form part of remuneration and are not included above. No employees received emoluments In excess of £60,(M)O. The average number of paid employees (including part-timel was.. Group 2024 Group 2023 Permanent staff Trustees 34 18 33 Is 52 51 The average full time equivalent of ernployees during the year was 25.312023.. 24.41. 24
VOLUNTARY ACTION- LEEDS Notes to the financlal ststements forthe year ended 311t Marth 2024 (contlnued) 11 Comparatives for the Statement of Financial Activitles Restrlcted Other Unrestricted pass through restrlcted Funds funds funds 2023 Total INCOME AND ENDOWMENTS FROM Donations and grants 675 250 925 Charltable actlvltles Grants and simi13r income Charitable activities Tradin8 income 81,700 1,330,319 126,781 224,255 708.615 44021 2,120,634 171,602 224.255 Investment income 20,972 20,972 Total Income and Endowments 454.383 1,330.319 753,686 2,538,388 Expenditure on Charitable activities 555.225 1,113,149 595,681 2,264,055 Total expenditure 555,225 1.113,149 595,681 2,264,055 Net gainslllossesl on investrnents 123.6471 123,6471 NET INCOMEIIEXPENDITUREI 1124,4891 217,170 158.005 250.686 Transfers between funds 113,247} 13.247 Net movement in funds 1137.7361 217,170 171.252 250,686 RECONCILIATION OF FUNDS Total funds brought forward 1,185.245 135.259 1.320.504 TOTAL FUNDS CARRIED FORWARD 1,047,509 217.170 306.511 1,571.190 25
VOLUNTARY ACTION. LEEDS Notes to the financial statements for the year ended 31st March 2024 (continued) 12 Tangible Fixed Assets Group and Charity.. Flxtures and littings Freèhold Propertv Total Costlvaluatlon As at I, April 2023 Additions Disposals 450,000 96,493 2,064 546,493 2,064 As at 31° March 2024 450,000 98,557 548,557 Accumulated depreciation As at isl April 2023 Charge for the year Eliminated on disposal 50,265 12.142 50,265 12.142 As at 31° March 2023 62,407 62,407 Net book value At 31" March 2024 £450,000 £36,150 £486,150 At31" Murch 2023 £450.000 £46,228 £496,228 The freehold property was professionally valued at £450,000 by Adair Paxton. chartered surveyors. in August 2022 on an open market existing use basis, subject to existing tenancies. The Trustees consider £450.000 an appropriate valuztion of the property as at 31st March 2024. All other assets are recorded at cost le$5 depreciation. Comparable historlc cost note for land and buildings included at valuation 2024 2023 Freehold land and buildlngs Historic cost Impairment provision 464,651 114,6511 464,651 (14,651? Valuation 4S0.000 450.000 26
VOLUNTARY ACTION- LEEDS Notes to the financial statements for the year ended 31st March 2024 fcontinuedl 13 Flxed Asset Investments Group Charlty Quoted Investments Market value at I" April 2023 Addition5 Disposa15 Net unrealised gains 209,660 54,414 148,6751 13,411 209,662 54,414 148,6751 13.411 228.810 228,810 Subsidiary unde¥taklnK: cost VAL Tradlng Llmlted Market value at 31" March 2024 £228,810 £228,812 As at 31" March 2024 26% of the Investment portfolio was represented by permanent Interest bearlng shares In LeÈd5 Building Society. The rest of the portfolio w85 held in a spread of listed equity investrnent funds. Cash held with the broker of £15,85712023: E15,5601 is included within the cash at bank and In hand asset headlng orn the balance sheet. All investments are carried at thelr fair value. Investment in equities and fixed Interest securitles are all traded Sn quoted public markets, primarily the London Stock Exchange. Asset sales and purchase5 are recognised at the date of trade at cost Ithat is their transaction valuel. The significance of financlal instruments to the ongoing financlal 5U5tèinability ol the Trust 15 considered in the financSal review and investment policy and performance section5 of the Trustee5' Annual Report. The main risk to the Charity from financial instruments arises from untertain investrnent rnarkets resultins in variable income and capital return5 from the portfolio of assets. Currency tran51atiori risks remain for those compariies and bonds that are exposed to overseas earnin8s and assets. Liquidity risk is anticipated to be low as all assets are traded on recognised exchanges wlth good Ilquidlty and high trading volumes. The CharitV'5 portfolio has no matèrial investment holdings Sn markets subject to exchange controls or trading The Charity Manages investment rlsk by appointing professional investment managers and operating an investrnent policy that provides for a high degree of diver5ification of holdings within investment asset classes that are quoted on recognised Stock exchanges. The Charity does not make use of derivative5 and similar complex financSal Instruments as St takes the view that Investments are held for their longer term total return. 27
VOLUNTARY ACTION- LEEDS Notes to the financlal statements for the year ended 31" March 2024 (continued) 14 Debtors: Amounts fallln8 due wlthln one year.. Group 2024 Charitv 2024 2023 2023 Amounts recoverable in the ordinary course ol activities Amounts owed by group undertakin85 Other debtors Prepayments and accrued funding income 44,583 30.214 7,842 28,402 37.609 16,030 1,219 39,016 2.316 60,725 39,016 60,725 £84.818 £93,255 £84.467 £lQ5,157 15 Liabilities: Amounts Falling Due Within One Year Group 2024 Charltv 2024 2023 2023 Amounts due in the ordinary course of activitie5 Funds held a5 agent for partner organi5ations Funds held for payroll Services VAT Other creditors Deferred income Accrued expenses 40,486 14.412 644.990 15,185 1.959 19,274 36,462 64,409 55.442 605,835 15,881 1,049 40,694 23.655 40,486 14,412 64,4Q9 55.442 15,185 1,959 15,074 36,462 15,881 1,049 18,836 23,655 £772,768 E806.965 £123,578 £179,272 Within partner organisations funds the Charity received funds of £1.250 and paid out £42,279 to organlsations where Voluntary Action-Leerls fulfilled the role of agent at the direction of a third party funder. 16 Taxation Voluntary Action- Leeds is a re8lStered charity and therefore is not liable to income tax and corporation tax on income and galns derived from its charitable activities as it falls within the various exemption5 available to registered charities. The subsidiary does not have charitable status and is fully subject to taxation. 17 Trustees Interests and Related Party Disclosures Ouring the year £234,73412023.. £218,451) was rechar8ed to VA-L Trading Ltd the only 100% owned subsidlary of the group. Gift aid donations under a deed of covenant frorn VA-L Trading amounted to £20,899 durln8 the year12023.' £5441 The balance owed from VA-L Trading Ltd at the year end was £37,60912023'. £16,030) 28
VOLUNTARY ACTION- LEEDS Note5 to the financial statements forthe year ended 31, Marth 20241contlnued) 17 Trustees Interests and Re5ated Party Dlsclosures Icontinuedl During 2024 Voluntary Action Leeds received grants totalling £35,000 from Volition Leed5, a Charity which Adrian Curtis and Neil Franklin are trustees of. These grant5 were distributed by Volltion Leeds on behalf of West Yorkshire ICS, an unconnected organisation. A further payrnent of £1,000 was received from Volition Leeds to contribute towards the expenses of the TSL Chair. Volition Leeds were inVoed in the distribution of Welcome Spaces pass thmugh funding totalling £8,250 on behalf of Voluntary Action Leeds. £3,000 was paid to Volition Leeds to lolntly fund 3 State of the Sector pOrt. £200 was paid to Volltion Leèd5 to contribute to a book library for the sector which was being developed by Volition Leeds. A number of the Trustees are involved wlth other charitie5 and voluntary organisations within the local aa. Membership, training and job advertising income is received from a number of these charities however where transactions have been ncUrred with organisations connected with trustees of Voluntary Action-Leed5, those trustees are not involved in that process or decision making and are on the same terrns as other charity beneficiaries. 18 Capltal Voluntsry Action - Leeds 15 a charitable company, limited by guarantee and has no share capital. The members have agreed to contrlbute £1 each to the Charity'5 assets in the event of it wSndin8 up, if Its assets should prove insufficSent 29
VOLUNTARY AcfioN- LEEDS Notes to the flnantial statemenis forthe year ended 31" March 2024 {contlnuEd} 19 MovernÈnts in Funds Incomlng Resources fte50urce5 Empended Other Transfers OthEr 6aln5 & Los5e5 Al 31° Marth 20Z4 23 Unrestlicted funds General Ivnd Redundanry & {al costs Building refurbishment and rr Snyiovemen15 Flxed 355et reserve Non tharitabletrèdingfmds o.ioi SO00 I900 46LOO8 1388.6311 137,0721 IL347 486.953 so,orKI 19.5tr) 496,228 41A80 ILO.0801 486.148 41.480 1.047.509 46L008 1888.6311 159.6481 11347 1.084.081 Support1 the sector Third Sector Lèeds Young Lives LEeds WYCA-Third sector Infrastwcture CCGA%set Based Enea8ement 56.073 73,ICbJ 14.127 146.3511 18S,7461 114,0071 13.0001 19.7201 3,607 9,039 910 6.510 15.500 5J46 Ilh47 124.7601 9,183 823 5,946 24.130 Talent Mètch Cllmate Fund A¢tbn Cllmate Fund Actbn Ipass throh> 107,048 530,253 1104.3651 1530.2531 Supptsrtintoriènisations 63,532 30.608 73.6n 39,714 184.86SI 21.333 13.4791 13.681 12.567 Small Groups Communicarions 187.3521 15Z.3BII 1.846 441 702 1.346 441 702 CItyAmbastsdors Leed5 Ciiycollege.. SocialArtion and Oisital Badges The Nalional Lottery Cornmunlty Fund GivlngTime Adull Phase 2 ee Collectlve The N3tional Lottery Cornmunity Fund LCAN Amicable WY P¢cVolunteer &Tru5tee Pioject PocCulturallyDiverse &FaithGroup LCC.. Greenhou5e-Wytfvers LCC.. Comrnunlty Champion5 n376 170.4181 958 6A12 13.SCQI 15S,1761 3.311 ISA62 70.638 26,519 io.orpj 29.0 116.539 11,7811 18.OLQI 8.219 17,OUO 1.8Z2 14.278 IA22 62fi92 34*78 4500 120.909 148,4141 184,8781 140,8001 LCC Neighbourhood Matthing LCC Community care Ipass through) LCC Househo1dSuprt Ipa5S 4.200 1120.9091 23,3L¥J ?SO.OOD 1754,8rL) 114.0001 4.5QO LCC Warm Spaces Ipassthrou8hl Leeds Cofflmunlty Healthcare NHS Trust Pilot ABCD Celebration Event ICC Comrnunltycare Hub LCC Household Support LCC Warrn Spaos n,961 198,500 1239,7431 IZO,OODI IL3.8591 17.859 9.51KI 3.315 17,7Cw)I 163,336 114,0001 11S,8591 120.909 14.WO 13,059 60.888 S23.681 OE2,498 12.463,1351 47.152 190,196 Total £1,571,150 543.506 II8SI,7661 IL347 £l.Z74.277 30
VOLUNTARY ACTION- LEEDS Notes to the ffinancial statement5 ft>r the year ended 31st March 2024 fcontlnuedj 19 Movement5 In Funds Icontinutdl Desi nated Funds Redundancy & Legal Costs An amount of £S0.00012023.. £50.0001 15 designated to cover redundancy payments and legal expenses In the èvent of the charity no longer being viable. BurldinB Refurbi5hrnent and IT Improvernents An amount of £19,50012023.. £19.5001 is desSgnated to tover the c05t of repalrs and Improvements to the property and investments in IT systems. Fixed A55et Reserve An amount of £486,14812023.. £496,2281 is designated to cover the cost of replacing the existing tangible fixed assets. Su ortln the sector Third Sectoi Leeds Through this inve5trnent, VAL provides supports the operation of Third Sector Leeds which is the alliance of key network5 and organisations in the sector that give5 It a voice at strategie level. Young Lives Leeds Through thi5 investmenL VAL provide5 supports the operation of Young Lives Leeds and its membership. Young knve Leed5 is a forum for third sector organisations who work with children and youn8 people. WYCA- Third Sector Infrastructurè WYCA Third Sector infrastructure funding Is used by VAL to support the Leeds Crfme Reduction Network. CCG Asset Based Enga8ement Fundin8 to facilitate Third Sector engagement wlth the Clinical commi55ionin8 Groups. Leèds Culturally Diverse Nub Investment to support the operation of the Leeds Culturally Diverse Hub whlch facilitates engagement of 8ME communities with Leeds City Council. Safei Communltles Jointly funded by the DCMS and the National Lottery Community Fund to promote and Champion a safe8uardin8 culture to all tharitie5. Talent Matth Funding provided by the The National Lottery Community Fund to support opportunities for Young People not in employmen education or training. During an initial two year pro8ramme VAL acts as the Young People'5 Engagement and Partnership Co- ordinators in both Leeds and Calderdale. Climate Action Fundin8 provSded by the The National Lottery Community Fund over flve years for the project to engage a range of communlties and individuals in the climate emergency by developSng eight hubs acr055 Leeds to deliver community-led activities that bring 5UStainable change beyond the duration of the funding. VAL act5 as lead partner on the project working alongside Leeds Love It Share IL Tidal and Together For Peace. Su ortln Or Volunteering This investment helps VAL to run the Leeds Volunteer Centre. The role of the volunteer centre is to match individuals to volunteering opportunities and support organisations to find suitable volunteers along with providing advice on all areas of settin8 up volunteering programme5 and volunteer management. anlsatlons 31
VOLUNTARY ACTION. LEEDS Notes to the fJnaThcial statement5 for the year ended 315t March 2024 fcontlnuedj 19 Movements in Funds Icontinuedl Small Groups This funding helps provide OTganisational development support to Voluntary and Community Sector IVCSI groups with an annual income of less than £lOO.000. Comrnunicatton5 Funding to provide a communication5 hub to and from the Third Sector in Leeds alon8 Wlth relevant information. support and advice. The National Lottery Community Fund: Giving Time Adult Fundin8 provided by the The N3tional Lottery Community Fund Reaching Communities Fund to continue the Work of the VAL Prisoner and Ex Offender Volunteerin8 project which airns to encourage prisoners to consider volunteering as an option to help them incr2)se their employability skills, self-esteem and self-conlidence whilst reducing reoffending and re-admittance. ICC Greenhouse Wythers Funded by Leeds City Council, the project 3ims to work with a local community and encourage them to identifyi develop and then run activities that meet their own needs leeds City Collegè-social Action and Dlgltal Badges Working a5 a partner of Leeds City College in their Social Actlon project, whSch Is funded by Sports England. to develop a model for social action projects for Further Education establishments. Be Collective Funding provided by HPOC to roll out the Be Collective volunteèr management tool across organlsatlons in Leeds. It Is a volunteer recruitment platform that is now bein8 Utilised by both third and statutory sector organSsations across Leeds. The management too15 in the system will allow us to better quantify the amount of fomial volunteering happening across Leeds. Health Education England- Circles Of Life VAL is the accountable organisation for this project. through which Circle5 of Life Women Together project a piloting an approach to self-employed beauticians of African and South Asian herit38e providing ment31 health first aid to their customers. Leeds City Countll- Nèi8hbourhood Matchlng Funding to work with the Leeds Community Anchor Network to pilot an approach to funding volunteer led organisations for the projects they undertake, where project funding is related to the number ol volunteer hours. Leeds City Council~ Household Support This funding is distributed vla the Leeds Cornmunity Anchor Network to enable frontllne organisation5 to support individuals and communitie5 Wlth practical support around the cost of living, including food. fuel and essential items. Leeds City Council-warm Spaces Funding to support local organisations providing safe and w3rm 'drop in, spaces and aetlvitles that promote social connection. The National Lottery Community Fund LCAN This 15 funding to 5UPPOrt and enable positive social action to build thriving, empowered and inclusive local communities through providing local infrastructure support and buildin8 capacity and resilience within the VCSE sector. Amlcable Funding for the research project'The 6 STEP AMICABLE Programme.. Addressing Mental health Iri Custody A Brief Learning Environment.. A peer-led 6-step problem-501ving intervention usin8 an Interrupted time series analysis and integrated rnatched cohort study design. 32
VOLUNTARY ACYION- LEEDS Notes to the financial statements for the year ended 315t March 2024 (contlnyed) 19 Movements In Funds Icontinuedl Leeds Community Healthcare NHS Trust- Community Anchor Pilot This funding is to enable the Leeds Community Anchor Nebwork to undertake a small-scale pilot to explore the impact of developing relationships between Comrnunity Anchors and Local Care Partnerships on people and communities. Community Champion5~ funded by Leeds City Council and West Yorkshire LWAB- part of the NHS Fundin8 to enable a group of volunteer5 to promote positive health messa8es to minoritized communities Poc Culturally Diverse & Falth Group Funding to provide resources to help culturally diverse and faith 8roups to become more stable and sustainable. WY Poc Volunteer & Trustee Prolert Funding to promote learning and capacity building around the voluntary workforce lincludin8 trustees) with a partlcular focus on organlsauons wtsrking with culturally diverse communlties. Transfer5 LCC provide fundSng for a range of actwities. Given that the costs of these activities exceed the grants provided, transfers are de to the general fund to reflect that some of the costs of these activitie5 are met by Voluntary Action from other income sources. Transfers have been made from the pass through funding to coverVA-L expenditure incurred in the year alter authorisation frorn the funder5. 33
VOLUNTARY ACTION- LEEDS Notes to the financlal statements forthe year ended 31" March 2024 fcontlnuedj 20 Employee Beneflt ObllÉatlons: TRT Retlrement Solutions-The Growth Plan The company participates in the Scheme. a multi-employer scheme which provide5 benefits to some 638 non-associated participatinE employers. The scheme 15 3 defined benefit scherne in the UK. It is not possible for the company to obtain sufficlent 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 fundin8 legislation outlined in the Pension5 Act 2004 which carne into force on 30 December 2005. Thi5, together with documents issued by the Pensions Regulator and Technical Actuar5al Standards issued by th Financial Reportin8 Council. Set out the framework for funding defined benefit otcupational pension sthemes in the UK. The scheme is classified as a 'last-man Standing 3rrangement'. Therefore the company is potentially liable for other participatin8 employers, obligations if those employers are unable to meet their share of the scheme deficit followin8 withdrawal from the scheme. Partitipating employers are legally required to meet their share of the scheme deficit on an annuity purchase basi5 on withdrawal from the scheme. A full actuari31 valuation for the scheme was carried out at 30 September 2020, This valuation showed assets of £800,3m, liabilitie5 of £831.9m and a deficit of £31.6m. To elirninate this funding shortfall, the Trustee has asked the participating employers to pay addltional contrlbutlons to the scheme as follows.. Deficit contribution5 From l April 2022 to 31 January 2025.. £3,312,000 per annum (payable monthlvl Unless a concession has been agreed with the Trustee the term to 31 January 2025 applles. Note that the scheme's previous valuation was carried otst with an effective date of 30 September 2017. This valuation showed assets of £794.9m. liabilitie5 of £926.4m and a deficit of £131.Sm. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contribution5 to the scheme as follows.. Deficit ¢ontributions Frorn l April 2019 to 30 September 2025.. £11.243,000 per annum (payable monthly and increasing by3% each The recovery plan contributions are allocated to each participating employer in line with thelr estimated Sha of the Series I 3nd Serie5 2 scheme liabilities. Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the cornpany recogni5es a liability for thi5 obligation. The arnount recognised is the net present V31ue ol the deficit reduction contributions payable under the 3greement that relates to the deficit. The present value is calculated usin8 the discount rate detailed in these disclosure5. The unwinding ol the discount rate 15 recognisEd as a finance cost. 34
VOLUNTARY ACTION- LEEDS Note5 to the tinanrlal ststements for the year ended 31, March 2024 {continuedJ 20 Employee Benefit Obligalign5 Icontlnuedl PRESENT VALUES OF PROVISION RECONCILIATION OF OPENING AND CLOSING PROVISIONS 31st Marth 2024 31$t March 2023 31st March 2022 Presentvalue of provisSon 785 1.680 2.635 Period Ending 31st March 2024 Period Endlng 315t March 2023 l£sl Provision at stort of period 1.680 2,635 unwinding of the discount fartor (interest expensel 50 Deficit contribution paid 19601 19501 Remeasurements- impact of hny change In a55umptlons Rerneasurernents- amendments to the contributlon schedyle Provlsion at end of period 785 1,680 INCOME AND EXPENDITURE IMPACT Period Ending 31st March 2024 Period Endlng 31st March 2023 Interest expense 64 50 Rernea5urernents- irnpact of any change in as5umption5 RemeÈsurements-arnendment5 to the contribution Schedule Contributions paid in respect of future seNice Costs recognlsed In Intome and expenditure account 'includes defined contribution scherne5 and future setvSce contributitsns li.E. excluding any deficit reduction paymentsl to defined benefit schemes which are treated as defined contribution schemes. To be completed by the company. 35
VOLUNTARY ACTION- LEEDS Notes to the financial statements tor thè yèar ended 3151 March 2023 {contlntsedJ 20 Employee Benellt Obligations Icontinuedl ASSUMPTIONS 31st March 2024 9S per ènnum 315t March 2023 per annum 31st March 2022 % per Ènnum Rate of discount 5.31 5.52 2.35 The discount rates shown above are the equivalent single dlstount rates whlch, when used to discountthe future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. 36