vicroRIA CENTRE REGISTÉRÉD CHARITY NUMBER 278215 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 AR BUSINESS CONSULTANCY LTD 62 POLWELL LANE BARTON SEAGRAVE KETfERING NORTHAMPTONSHIRE NN15 6UB
vicroRIA CENTRE REGISTERED HA MBER 278 CONTENT5 PAGE NO. Officers, trustees and senior staff Trustees, report Independent Examiner's report Statement of Financial Affair5 Balance Sheet Notes to the Financial Statements 8-12
vicroRIA CEhlTrE REGISTERED CHARifi NUMBER 27 21 LE ALANDADMINIST MANAGEMENT COMMirtEE CHARITY TRUSTEES 2023-24 PRESIDENT Inon-Trustee) Cynthia Bailey VICE-PRESIDENT Vacant CHAIR TonyA51am VICE-CHAIR Rosemary Abram lappolnted 22121241 Allan Blackman (appointed 22121241 Philip Irwin (resigned 8191231 Jonathan Ekins lappointed 22121241 SECREfARY TREASURER U.R.C. REPRESENTATIVES Vacant N.R.E.C REPRESENTATIVES Anjona Roy (resigned 24191231 Paul Croft$11919123 to 23191231 WELLINGBOROVGH TOWN COUNaL Cllr Elayne Francis (resigned 22191231 Cllr Philip Irwin (resigned 8191231 NORTr1 NORTHAMPTONSHIRE COUNCIL Cllr Jonathan Ekins ELECTED BY MEM8ER5HIP Rosemary Abram Richard Jackson Tony Aslam JennSfer Dixon (resigned 26171231 Silvie Sterland Iresl8ned 24191231 Scott Fitzsimmons115/V24 to 21111241 Duncan McDonald12617123 to 24191231 Nilesh Patel (appointed 6111241 Victor James (appointed 26111241 Allan Blackman lappointed 2V21241 OTHER INFORMATION CENTRE MANAGEMENT Kevin Johnstone (until 301101231 Bogdan Cesauanu, Diana Trickett, Marta Jankowska (Central Management Team from September 20231 PRINCIPAL OFFICE 46-50 Palk Road, Wellingborough, Northants, NN8 IHR BANKERS Barclays Bank plc Unity Trust Bank 114DEPENDENT EXAMINER AR Business Consultancy Ltd IACMAI 62 Polwell Lane, Barton Sea8rave, Kettering, NN15 6UB
vicroRIA CENTRE REGISTERED CHARITY NUMBER 278215 REPORT OF THE TRUSTEES 2023-202 l Reference and admlnlstratlve details of the Charit Its Trustees and Ad¥lws The Victori3 Centre, 46-50 Palk Road, Wellingborough, Northamptonshire, NN8 IHR is a voluntary organisation formed in 1979 with a charitable corb5titution. It is a registered char6ty r. 278215. The Centre is governed bv Management Committee IMCI. A full list of MC members (the Tru5teesl and of senior staff of the Centre can be found on page l. There are four prlncipal partner or8anisation5 of the Centre. Wellingborough United Reformed Church Synod Property Offi¢e IURCI, and High StreeL Wellingborough, owns the buildin8 in which the Centre operates, lea5in8 it to the Centre at a peppercorn rent. The other founder member of the Centre, the Northamptonshire Rights and Equality Council INRECI, now enga8es through membership of the MC and with an appointed trustee Iposltion currently vacant}. The Centre buys in financial services from Central Computers Manchester Ltd IvepaY) for payroll and from its Independent Examiner, Andrea Rudge of AR Business Consultancy Ltd who prepares the fin31 accounts and undertakes the examination. Z Strurture Governance and Mana ment Virtoria Centre is govemed through a written con5titutlon. the objectives of which are at Paragraph 3 below. The MC described above is reconstituted at each AGM and al timès between adjusted, according to the rules. Roles and positions comprise of four member5 elected by the general membership, two appointed by the URC and two from the NREC (these are currentlyvacantl. Local government changes in May 2021 to abolish WellinBborough Borough Council and Northamptonshire County Council mean that there are no longer appointees from these defunct bodie5. By invitation. the Centre can now have two appointed trustee5 from Wellingborough Town Council Icurrently vacantl and one from North Northamptonshire Council. The MC may co-opt up to four members to be truslees, outside of AGMS. The four officers- Chair, Vic& Chair, Secretary and Treasurer, are elected at the AGM, or during the year by the MC, and must be members. All employees of Victoria Centre are automatically member5, but without voting right5. Otherwise. 311 members have equal voting right5 at constltutional meetings such a5 AGMS. Only trustees have voting rlghts at MC meeting5. Isee list on page previous pagel. Victoria Centre ¢ontinually reviews its constitution and policies to ensure they are kept relevant to an evolving world. The Trustees have been working on a proposal to change the status of the Centre to a Charitable Incorporated Organisation ICIOI. This is now ready to be presented to at the AGM to all membèrs for their input and approval, as a more efficient and secure way of operating. 30b rtlve and Artlvltl The main purpose of the Centre is set out in its constitution a5 follows.. ro promote the benefit of oll those living or working in the Borough of Wellingborough, hereinafter¢olled"the oreo of benefit", without distinction of oge, gender, 5exuolity, colour, national or ethnic origin, dlsotr-lity, Hlvstotus, coring/dependent responsibilities. politicol or rellgious opinions orfor any other unjustifiable reoson. Thls will be achieved by ass¢xiating the localstatutory outhoritie5. voluntury orgt7nisations ond inhabitGnts in t7 common effort to odvance education, and to pmvidefocilities in the interests of social welfvrefvr recreotion ond leisure-time occupation with the object of improving the condklons of Ilfrfvr oll those Ilving Of working in the Borough..
The Centre delivets these oblectlves by direct provision of facilities for chlldren and youn8 people, by providin8 an affordable and welcoming meeting place for community groups, especiallythose offering services to older people. by supporting and facilitating inter-faith activity and by offering incubation help, sUPPOrt and premises for emerging groups. particularly from disadvantaged or newly-arrived communities. 4 ReseNe Ik statement Trustees have established 3 standard whereby the unrestricted funds not committed or Invested In tangible Ted assets IFree Reserves) held by the charity should be £60,000. This equates to approximately three months, general expenditure and at this level they feel that they would be able to continue the current actlvSties of the Centre. Thi5 Sltuation is regularly monitored, and Victoria Centre continually seek5 additlonal sources of income to maintain and enhance reserves. As at 31st March 2024 the Charity's free reserves amounted to £92,496. 5 Achievements and Firstly. 2023-24 was a very challenging year for the centre. However, the dedication and professionalism of staff. trustee5, members and the wider community enabled the difficulties to be overcome. In short, the resignation of the Centre Manager and some trustees and a precarious finan¢ièl situation led to a restrurture, with a temporary Centre Mana8ement Team ICMTI put in place in September and also a short-term acting Treasurer. The CMT was and is made up of the Finance Officer, Centre Cwrdinator and Head of Childtare. Between them they worked hard to secure grant5 which averted the danger and provided some immediate financial stabillty for the centre. Dvringjanuary. two nèw trustees were appointed. then in February,the previovsly-vacant Posttions of Vice Chalr. Secretary and Treasurerwere filled. The CMT was also made permanent at that time. orman Chitdcare services indudè day care for up to 25 children under five years of age. plus an after 5¢hool club for children up to eleven years old. It is currently rated Good by Ofsted but with realistic expectations of Outstsnding In the next review. Parents mostly use state credits to aesS the services and support with applications is provided through the ICNA fundin8. Room hire increased thls year and includes bookings for education and support ¢lasses, soclal gatherings, ¢¢mmunity groups and business meetings. Also by agencies looking to reach out to local people, including police, fire service and kical councils. ICNA Ilnformation Centre for New Arrivals1 services are funded via a grant from NNC and provide essential support for migrants and those seekin8 to navigate the complexfcies of UK official protocols, including with hÈalthcarè. housing, jobs, benefits. permits and licence5, and often requiring translation services. Other projects. Food and poverty projerts were again the focus of the tentre. We put on a successful International Food Festival, attended by over 250 people. with SO volunteers and 15 stands with food fmm all over the world. We also hosted a Breakfast with Santa event. Food was provlded on a weekly basis to more than six familie5 usin8 food donations from Fareshare, Tes¢o, Morrisons and Big Europe and a warm room wa5 launched in December which wa5 attendeil by up to 60 people per evènt and ran until March. Thls was funded by NNC grants. Some of that funding was used to purchase food vouchers from Aldi. These vouchers can only be used for food and were given directly to those in need, thereby saving staff time in sorting and distributing food. To supplement this, the tÈntre partnered with Tesco to take near- to-use-by date and be5t-before date produce to quickly distribute this to families in need in the local area. Although this is superficially at no cost to the centre, it relies on staff 3nd volunteers being available in the evenin8s to collect and distribute the f¢d. ThÈ cèntre distributed 175 warm packs with funds from National Lottery and National Grid150to children and 125 to vulnerable adults, includin8 homelèss). VC has also offered food vouchers and warm pack5 to the residents of Euro Hotel and other charities, institution5 and individual5.
6 Financial Revlew Please see the Independent Examiner's report and financial statements for a detailed view of the finances. Overall. the financlal position of the Centre has improved significantly from the end of the prevlous period and from the difficuliies encountered during the year. The grants secured by the CMT and temporary Treasurer contribLrted to an increasè in c£lOO,OLN) of the income. At the same time, community members and local Eroups donated a total of C£14,0. During a year when the cost of living increased significantly, such support from the local community is a huge statement and we thank all those who supported and continue to support the Centre to achieve its goals. Compared to the previous year, donations increased slx-fold and room hire Increased by 50%. Income from childcare increased by 3% but that reflects the fatt that it gperates at maximum ¢apaclty. Income from grants increased by a significant 85% to se¢ure the immediate future of thè centre and thereby enable the continuing provision of wlde-rangingservices to the community. The Trustees are currently revievAngthe centre's Financial Regulations Policy and will contlnue to monitor the flnancial position of the Centre on a regular basis in order to try to avoid another worrying situation arising, but current financial protocols mean that thi5 should become appArent much more quickly than previously. The Centre Is currently in a healthy fiscal position. 7 Plans for the Future As well as moving to a new structure of a CIO (see Structure, Governance and Management above). the Vlcrorla Centre will continue its various community support 5eNices and to provide a welcoming space for users and other organisations. It is essential to continue to apply for new grants and there are new events to be organlsed. This year has demonstrated that we have the support of many members, volunteers and the local communlty, who trust that the centfe will continue the great and necessary artivities that it ha5 provided over its forty five year history. We wish all members of staff. volunteers, groups and supporting bodles all the best and thank them for their tremendtsus worl dedication and tommltment. 8 Funds held 05 CUStodian tmstees for others During 2023-2024the Centre held funds on behalf of Women Have A Go Group IWHAGGS) to a value of no 8reater than £3,000 and none on behalf of others. Tony Aslam, Chair 20th July 2024
INDEPENDEN UALIFIED REPORTTO THE TRUSTEES OF vicro ACEN REGISTERED CHARITY NUMBER 278215 I report on the accounts of the Charty forthe year ended 31st March 2024 which are set out on the following pages. Re5pe¢tlve responslbllltiesof trustees and examlner The Charity's trustees are responsible for the preparatlon of the accounts. The Charity's Trustees consider that an audit FS not required for this yÈar under sertion 144121 of the Charities Act 201112011 Act) and that an independent examinatlQll 15 needed. l am qualified to undertake the examination by being a Chartered Management Accountsnt. It Is my responsibilityto:_ examine the accounts under se¢tSon 145 of the 2011 Act follow procedure5 laid down in the general drrertions given under section 14515Mbl of th 2011 Act state whether particular matters have come to my attentign. Basis of independènt examlner's Teport My examination wa5 carried out in accordance with the general directions Blven by the Charrty Commission. It include5 a revFew of the accountlng records kept by the Charity and a comparison of bank and othertran5artlgn5 to those entered to the accounting software. It a150 Includes consideration of any unusual items or disclosures in the accounts, and seekin8 explanations from the Centre Manager and Principal Finance Officer concerning such matters. Independent examlner's statement During the period covered by this report. the Centre encoufttered 8 number of difficuties, both f6nancial and operation31. It became clear during 2023 that the Centre's financial position had become precarious aftd, whilst thls Is not unusual in the charity sector, it was a very unsettling and worrying time and required remedial attions. The Sltuation led to various changes of personnel- both staff and trustees- including the replacement of the centre manager by a Central Management Team ICMTI consisting of three sènior members of staff. A temporary actlng Treasurerwas appointed with the primary task of securing new fundin& to ensure the continuance of the Centre. Aftèr a lot of hard work by all involved. a significant grant was secured from the National LotteTy Community Fund 1£74,9301 followed by further 8r3nts from National Grid1£9,9951 and NNC HSF1£30,0001 as well a5 some smaller amounts. These incoming resources, along Wlth 59me cost-tutting measurÈs, sècured the Centre's short-term future but effort5 are ongoing to source new grants. which are crucial if the Centre 15 to tontinue at its current level of servi. The Centre's overall income by the end of the year was £353,540- an increase of E98,593 on the previous year, with In¢On from childcare remaining stable at £145,807. The Centre recelved donations totalling £14,058- a significant incrÈase from the previous year1£2,2221 and represents the generosity of the community when the centre was facing financial dbfficulties. Grants of £134,389 were received Compared to £72,487 in 2022-23. Total expenditure for the year was £308,76912023 £287,965), of which £120,S99 was funded by 8Tants12023 £69.1941. To show a surplus of £44,771 for the year amounts to 3 Significant achlevement, given the issues enwuntered. At year end, the Centre had cash reservès of £103.38512023 £40,097), of whlch £19,042 was unspent restricted 8rant funds, leaving unrestricted reserves of £92,496. In my opinion, the financial checks, procedures and reconciliations are working well and transactions are being accurately recorded in Sage. I have consulted with the Principal Finance Officer concerning recording and analysing expenditure and I feel that we are now achieving more detailed, accurate information, especially with regard to departments and piojects. l am, therefore, satisfied that, despite the thallenges faced dtjring the period, these account5 represent a true and accurate reflection of the cent,5 financial position as at 315t March 2024. A R Business Consultancy Ltd 62 Polwell Lane. Barton Seagrave, Ketterin& Northamptonshire, NN15 6UB 24th June 2024
VICTORIA CENTRE REGISTERED CHARITY NUMBER 278215 STATEMENT OF FINANCIAL AcfiviTIES F R THE Y&4R ENDED 31 MARCH 2024 Notes Unrestrltted Funds Restrfrted Funds Total 2023-2024 Total 2022-2023 Income from: Donations and Legacies 14,058 14,058 2.222 Charitable activities Investments 216,363 56 123.063 339,426 56 252,707 18 Total Income 230,477 123,063 353.540 254,947 Expefftditure on: Charitable activities pital assets 196.870 109.273 306.143 287.965 Totsl expenditure 196,870 109,273 306.143 287,965 Net Incomel(expendlture) Transfers between funds 33,607 13,790 47.397 (33,0181 Net movement of funds 33,607 13,790 47,397 133.0181 Reconclllatlon of funds: Totsl funds brought forward l April 2023 66.515 252 66,767 99,785 Total funds carrled forward 31 Maich 2024 I.122 14,042 114,164 66.767
vicroRIA CENTRE REGISTERED CHARITY NUMBER 278215 ET ASA MAR H20 Notes 2024 2023 Fixed assets 16,378 20,473 Current assets Debtors Bank 8,721 103,385 13.646 40,097 112,106 53,743 Credltors Amounts falllnB due within one year 14,320 7.449 Net current assets 97,786 46,294 Net assets 114,164 66,767 Charlty funds Unrestricted funds Restricted funds 95,122 19,042 66,515 252 io 114,164 66,767 The financial statements were approved and authorised for issue by the Management Committee on 20th July 2024 Signed on behalf of the Board of Trustees Tony lam (Chair} Jonathan ins (Treasurer)
vicroRIA CENTRE REGISTERED CHARITY NUMBER 278215 ENTS FOR THE YEAR ENDED 31ST MARCH 2024 NOTES TO THE FINANCIAL STAT 1 SUMMARY OF SIGNIFICAKf ACCOUNTING POUCIES {a) General Infomiation The Victoria Centre is a charity re8istered in the United Kingdom. The address Is shown on page l. The nature of the charity's operations and principal activities are detailed in the Trustees, Report. The charity ¢onstitutes a publ1¢ benefft entlty as deflned by FRSIO2. (bl Basls of accountin8 The financlal statements havè been prepared under the historical cost convention In accordance with the Ststement of Recommended PractI"AccOuntIng and Reporting by Charities" issued in 2015 IFRS1021 and in line wlth UK Accounting Standards and the Charities Acts 2011 and 2022. The charity has applied Update Bulletin l as published in February 2016 and does not include a cashflow ststement on the grounds that rtls applying FR51021A. {cl Incomin8 Resour¢es tyonations and legacles Donation5, le8acies and grants that provide core funding or are of a general nature are recogni5ed wherè there is entitlement. certainty of reIpl and the amount Can be measured sufficlent Investment income Interest is brought into account on a receivable basls. Income frorn Charitable ArtIvleS Income from Charttable Activities include5 income received under ¢ontract or wherè entitlement to grant funding 15 subject to specific performance conditions and is recognised as eamed. Grant income in this category provides fundin8 to support performance activities and is rerognised where there is entitlement, certainty of receipt and the amount can bè measured with suffitient reliability. Id) Expendltufe Expenditure Is recongnised whèn a liability is incurred. Costs of Genèrating Funds are those costs incurred in attracting voluntary Income. Charitable Activitie5 includes expenditurè associated with the provision of facilities and services in ihe Centre that relate directly to the Charitsble Objects. Governan¢e Costs include those Incurred in the governance of the Charity and its assets and are primarily associated with constitutionol and statutory requirements. {el TanKible Fixed Assets and Depre(iation All tangible Fixed Assets costing more th¥n £500 are capitalisèd and includèd at cost including any incidental expense5 of acquisition. Depreciation 15 calculated to write down the cost or valuation of all tsngible fixed asset5 over the expected useful lives. Fixtures, FittSngs & Equipment 20% reduclng balance
(l) Fund Accountln8 Funds held by the Charity are etther.. Unrestrlcted general funds- whlch can be used in accordanct with the Charitable Objects at the discretion of the MC. Designated funds- set aside by the Trustees for specific future purposes or projects. Restricted funds that can only be used for particular restricted purposes Wlthin the objects of thè Charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 2 INCOME FROM CHARITABLE AcTIVlEs Grnnts and fundln Unrestrirted Funds Restrlcted Fund5 2024 2023 North Northamptonshire Council IICNAI Scott Bader IDÈsl8Aatèdl Garfield Weston National Lottery Community Fund Western Power Saturday Warm Rorrfn North Northants Council HSF4 Wami room North Northant5 Council HSF3 Food Northants Community Foundation- ICNA We#ern Power Holiday Food Parcels wtc Community Funding Scheme Deflb box National Grid NNC WHAGS13rd party Other small grants 11.326 11,326 11,326 s.o¢xJ 20,0 iO,O(K) 9,711 5,0(K) 4,950 74,930 74,930 800 30,000 3,000 800 30,000 3,000 I,(xJo 9.995 2,500 1,838 9,995 2,500 1,838 Total Grants and Fundlng 11,326 123,063 72M87 Othèr Income Don3tions Lettings Childcare Membership fees Other income 14.058 58.718 145,807 220 292 14,058 58,718 145,807 220 292 219.095 2,222 38,427 141,258 245 219.095 182,442 Totsl Inme 230,421 123,063 353,484 254.929
VICTORIA CENTRE REGISTERED CHARITY NUMBER 278215 EDJIMA Unrestrlcted Restrlcted Fu Funds 3 EXPENDITURE: Expendlture by Income stream North Northamptonshire Council IICNAI Scott Bader IDesi£natedl North Northampton5hire Council IICNAI Garfield Weston National Lottery Community Fund Western Power Warm room North Northants Council HSF4 Warm room North Northants Counc51 HSF3 Food Northants Community Foundation- ICNA Western Power Holiday Food Parcels WTC Community Funding Scheme Defib box National Grid NNC WHAGS Other small grants 2024 2023 11,326 11.326 5,000 11,326 5,CQO 1.707 20.000 10,000 9.711 61.210 61.210 800 30,000 800 30,000 4,950 2,500 9,99S 430 9.995 430 1,838 120.599 185,544 1,838 109,273 11,326 185,544 69.194 220,146 11.3751 287.965 Non Brant-related expenditure Less capital expenditu 196,870 109.273 306,143 Expendlture bytype Childcare salaries, pensions and expenses Core salaries and pensions Employer's National Insuiance Staff training and welfare Rates and utilities Other premises costs, inc. refvrblH & S Stationery, printingi telephone, postage Computer and IT costs Equipment hire, maSntenance and expensed Bank charges and interest paid Subscriptions Insurance 84,266 114,653 8,380 4,247 26,860 25,631 3.067 2.666 1,799 1,493 992 3.071 553 4.095 2.951 2,(K)5 430 84,266 114,653 8,380 4,247 26,860 25.631 3,067 2,666 1,799 1.493 992 3,071 553 4,095 2,951 2,005 430 123.971 93,024 7,218 763 22.716 6,799 2.535 1.916 4.671 1.294 1.094 4,312 660 S,136 2,687 Other costs Depreciation Professional costs Amotjnts Wrtten off Customer balances WHAGS expenditure ICNA expenditure HSF314 Warm roomlFood expenditure 2.771 3.220 16,024 16,024 303.183 303,183 284,787 Governance Accountancy, payroll, D8S 2,960 2,960 3,178 306,143 306,143 287,965 io
VICTORIA CENTRE REGISTERED CHARITY NUMBER 278215 ES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 4 STAFF COSTS 2024 2023 Total gross wages Employer's Nl Pension Costs Salaries allocated to restricted funds 193,376 8,380 3,051 144,9111 159,896 208,506 7,218 3,150 15,6171 213,257 5 TANGIBLE FIXED ASSETS Flxtures Fittln ui 2024 2023 Cosl or Valuatlon As at 1st April 2022 Additions during year As at 31st March 2023 77,397 77,397 76,022 1,375 77,397 77,397 77.397 Depreciation As at 1st April 2022 Charge for the year As at 31st March 2023 56,924 4,095 61,019 56.924 4,095 61,019 51,788 5,136 56,924 Net Book Value A5 at 31st March 2022 As at 31st March 2023 20,473 16,378 20,473 16,378 24,234 20,473 6 DEBTORS 2023 Due from users and clients Accrued income Prepayments 3,508 6,249 4.950 2,447 13.646 5,213 8,721 7 CREDITORS Tra(Je creditors Accruals Social securlty. wages and pension 8,732 2,000 3,588 1.662 2.435 3.352 7,449 14.320 8 TRUSTEES The trustee5 are the member5 of the Management Committee. During the year, 15 Members 12023, 121 served on the committee. Expenses paid to trustees totalled £012023. £01. No remuneration was paid to any trustee. li
VIUORIA CENTRE REGISTERED CHARITY NUMBER 278215 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 9 UNRESTRicfED FUNDS Transfers Between Fu Balance at Incomin l A rll 2023 Resourtes Resourees nded Balance at 31 Mar ZQ24 Ex Deslgnated Ftsnds Scott Bader- Windows 5,C(10 15,0001 5,(X)O 15,0001 General Reserves 61.515 230.477 1196,8701 95,122 66,515 230,477 (201.8701 95,122 10 RESTRicfED FUNDS WHAGS NNC HSF3 Food NCF- ICNA NNC HSF4 Warm room National Grid Nat Lottery Community Fund Other 5m3118rants 252 2.500 30,000 3,000 800 9,995 74.930 1,838 121.225 14301 130.0(K)I 2,322 18(XJl 19,9951 161,2101 11,8381 1102,435) 13,720 252 19,042 11 ANALYSIS OF NET ASSETS BETWEEN FUNDS nrestrfcted Restricted 2024 2023 Tangible Fixed Assets Current Assets Current Liabilities 16,378 93,064 114.3201 95,122 16,378 112,106 114,3201 114,164 16,712 53,743 17,4491 63,006 19,042 19,042 12