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2024-03-31-accounts

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Registered number: 01501746 Charity number: 279880

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Trustees' Report and Financial Statements

For the year ended 31 March 2024

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Contents

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 7
Independent auditor's report on the financial statements 8 - 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 33

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Reference and Administrative Details of the Charity, its Trustees and Advisers For the year ended 31 March 2024

Trustees Mr. N. Adams
Ms. T. Bushell (resigned 7 May 2024)
Ms. L. Hancock
Ms. C. Johnson (resigned 7 May 2024)
Ms. S. Leedham (resigned 7 May 2024)
Ms. A Manso
Ms. S Quirk
Ms. Y Taruvinga (appointed 24 January 2024)
Company registered
number
01501746
Charity registered
number
279880
Registered office
Engine House
Veridion Way
Erith
DA18 4AL
Company secretary
Ms. J Rai
Independent auditor
UHY Hacker Young
Chartered Accountants
Thames House
Roman Square
Sittingbourne
Kent
ME10 4BJ

Page 1

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Trustees’ Report

For the year ended 31 March 2024

The trustees, who are also directors of the charity for the purposes of the Companies Act, are pleased to present their report and the financial statements of the charity for the year ended 31 March 2024.

The trustees confirm that the Annual Report and financial statements comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

Bexley Voluntary Service Council Limited (also known as “BVSC”) is a company limited by guarantee governed by its Memorandum and Articles of Association. The charitable company was incorporated on 13 June 1980. The members voted at the AGM on 20 October 2022 on a Special resolution to adopt updated Articles of Association for the Charity. These Articles have been filed with Charit Commission. BVSC is registered as a charity with the Charity Commission.

Organisation

BVSC is usually run from its head office at Engine House, however some work is undertaken remotely by staff out in the community. The board of trustees meets five times during the yearer. Day-to-day responsibility for the provision of services has been delegated to the Chief Executive who is responsible for ensuring that the services specified by grant-makers and the trustee board are delivered and that key performance indicators are met.

The management of the charity is the responsibility of the board of trustees, who are elected under the terms of the constitution.

Trustee recruitment, induction, and training

Trustees are recruited through a formal application process and judged against the skills required for the board to properly execute its obligations and responsibilities. Potential members are required to adhere to BVSC's Conflict of Interest Policy and declare the same on a declaration form. Trustees take part in periodic skills audits which identify individual skill levels and the collective capacity of the board. Together with regular discussion at board meetings, this identifies skills gaps and training needs.

On appointment, new trustees receive information on BVSC's constitution, governance and the strategic plan for the period. They are also provided with the Charity Commission's guide 'The Essential Trustee' and meet the senior management team and other staff members to familiarise themselves with the work of the charity and gain an appreciation of the scope of its activities.

Trustees

The trustees, (who are also directors of the company for the purposes of company law), who served during the year are as stated on page 1.

Page 2

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Trustees’ Report

For the year ended 31 March 2024

Risk management

The trustees have a risk management strategy which comprises:

Procedures have been implemented to ensure compliance with health and safety of staff, volunteers, service beneficiaries and visitors.

OBJECTIVES AND ACTIVITIES

Principal activity and objectives

BVSC exists to promote voluntary and community action as a means of improving the quality of life for people in Bexley by:

BVSC exists to enable the voluntary and community sector to deliver the best possible service to their users by providing advice, resources and individual support. By providing this level of expertise, training and support, members of the public using voluntary and community services benefit from a vibrant, skilled, and resourced voluntary sector supported by trained volunteers and staff.

BVSCs strategic outcomes inform our priorities and approach as summarised below:

Priorities Approach
Bexley has a thriving, influential and sustainable
sector which benefits Bexley people and
communities.		 • Services are of high quality and VCS is
well-led: supported by access to a high
quality, bespoke capacity building
program.
• Improve the funding situation of VCS.
• Services are safe.
• Sharing, championing, and celebrating
the sector’s achievements.
• Building supportive and influential relationships.
Bexley has a vibrant, inclusive, and diverse
volunteering culture.		 • Diversify volunteer base to improve
accessibility of volunteering for people
resident in all areas of the borough.
• Improved connection and involvement in
community for Bexley residents via our newly
designed Launchpad project.
• More Bexley residents are volunteering.

Page 3

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Trustees’ Report

For the year ended 31 March 2024

BVSC measures our success in achieving these outcomes through a variety of means including beneficiary and stakeholder feedback, data such as event attendance and volunteer numbers, impact on health and wellbeing and measured improvement in quality, policies, and procedures.

Public benefit

The trustees have referred to the guidance in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning future activities. In particular, the trustees consider regularly how planned activities will contribute to the aims and objectives that have been set.

Activities

The main activities undertaken during this year were focused on continuing to support the local voluntary and community sector throughout challenging times, particularly around rising costs, inflation and cost of living crisis. We particularly focused on increasing partnership working and strengthening relationships across sectors. BVSC’s activities support the achievement of our strategic aims and build on the incredibly community and voluntary sector that already exists in Bexley.

This year we achieved the following:

Bexley has a thriving, influential and sustainable sector which benefits Bexley people and communities:

Page 4

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Trustees’ Report

For the year ended 31 March 2024

This was another year busy and impactful year and we would like to thank our staff, volunteers, partners, sector colleagues, funders & commissioners for their on-going support during this year.

FINANCIAL REVIEW

Result for the year

2023-24 continued to offer a stable year financially and the trustees can report a surplus of £282,671. £193,360 of this surplus is made up of designated funds moved forward to 2024-25. The focus of our work during the year can be seen on page 3-4 of this report.

The trustees are pleased to note the steady income for the year and look forward to ongoing positive funding relationships with existing and new funders and commissioners.

The trustees are grateful to the charity's staff for their dedication and resourcefulness and for providing high quality support at a minimal cost.

Page 5

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Trustees’ Report

For the year ended 31 March 2024

Reserves policy

The charity is concerned with the need to ensure sufficient reserves are set aside to cover rising costs and potential reduction in long standing funding arrangements. The charity seeks to keep in reserve sufficient funds to ensure that the trustees are able to provide services currently available to the voluntary and community sector for a minimum of 3 months if funding ceased. It is estimated that it would cost approximately £250,000 to deliver services and finances needed for a three-month period. Our budgetary plans for the forthcoming year anticipate further use of reserves to implement an increase in senior management resource to support the strategic direction and management of the organisation. This would reduce reserves by an estimated £26,000 per year.

Our free reserves as of 31 March 2024 stood at £292,660 (2023: £232,356) being our unrestricted reserves £935,772 less designated funds of £564,839 and fixed assets of £78,273.

Statement of Trustees' responsibilities

The trustees (who are also directors of Bexley Voluntary Service Council Limited for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements giving a true and fair view, the trustees are required to:

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditor

In so far as the directors are aware:

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Page 6

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee )

Trustees’ Report For the year ended 31 March 2024

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

This report was approved by the trustees and signed on their behalf:

Mr. N. Adams Date: 16 December 2024

Page 7

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Independent Auditor's Report to the Members of Bexley Voluntary Service Council Limited

Opinion

We have audited the financial statements of Bexley Voluntary Service Council Limited (the 'charity') for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 8

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Independent Auditor's Report to the Members of Bexley Voluntary Service Council Limited (continued)

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

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

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

Page 9

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Independent Auditor's Report to the Members of Bexley Voluntary Service Council Limited (continued)

Auditor's responsibilities for the audit of the financial statements

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

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

Non-compliance with laws and regulations

Based on:

we considered the significant laws and regulations to be the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities SORP (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK tax legislation.

The charitable company is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be the Health and Safety at Work etc Act 1974, the Data Protection Act 2018, Employment Rights Act 1996 and the Bribery Act 2010.

Our procedures in respect of the above included:

Fraud

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

Page 10

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Independent Auditor's Report to the Members of Bexley Voluntary Service Council Limited (continued)

Based on our risk assessment, we considered the areas most susceptible to fraud to be journals and key estimates and judgements.

Our procedures in respect of the above included:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of no detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

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

Other matters

In the year to 31 March 2023 the charitable company was not subject to audit under the Charities Act 2011 nor the Companies Act 2006. The comparative results disclosed in these financial statements are therefore presented as unaudited.

Use of our report

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

Tracey Moore BFP ACA (Senior statutory auditor)

for and on behalf of

UHY Hacker Young Chartered Accountants Thames House Roman Square Sittingbourne Kent ME10 4BJ

Date: 16 December 2024

Page 11

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
6
Investments
7
Total income
Expenditure on:
Raising funds
Charitable activities
8
Total expenditure
Net (expenditure)/income
Transfers between funds
17
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
78
1,123,768
(999)
3,163
1,126,010
14,631
814,020
828,651
297,359
(15,000)
282,359
653,413
282,359
935,772		 Restricted
funds
2024
£
-
108,380
-
-
108,380
-
123,068
123,068
(14,688)
15,000
312
76,091
312
76,403		 Total
funds
2024
£
78
1,232,148
(999)
3,163
1,234,390
14,631
937,088
951,719
282,671
-
282,671
729,504
282,671
1,012,175		 Total
funds
2023
£
40
835,922
1,191
1,629
838,782
13,434
735,002
748,436
90,346
-
90,346
639,158
90,346
729,504

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 15 to 33 form part of these financial statements.

Page 12

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited (A company limited by guarantee) Registered number: 01501746

Balance Sheet As at 31 March 2024

Note
Fixed assets
Intangible assets
13
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
17
Total funds		 207,553
769,695
977,248
(43,346)		 2024
£
56,743
21,530
78,273
933,902
1,012,175
76,403
935,772
1,012,175		 97,409
794,273
891,682
(207,123)		 2023
£
30,157
14,788
44,945
684,559
729,504
76,091
653,413
729,504

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

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

The financial statements were approved and authorised for issue by the trustees and signed on their behalf by:

Mr. N. Adams

16 December 2024

Date:

The notes on pages 15 to 33 form part of these financial statements.

Page 13

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Statement of Cash Flows For the year ended 31 March 2024

Note
Cash flows from operating activities
Net cash used in operating activities
19
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of intangible assets
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
20		 2024
£
22,075
3,163
(33,960)
(15,856)
(46,653)
(24,578)
794,273
769,695		 2023
£
111,878
1,629
(27,000)
(11,073)
(36,444)
75,434
718,839
794,273

The notes on pages 15 to 33 form part of these financial statements

Page 14

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited (A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

1. General information

Bexley Voluntary Service Council Limited is a charitable company limited by guarantee, company number 01501746, registered in England and Wales. The registered office address is Crayford Manor House, Mayplace Road East, Dartford, DA1 4HB.

The members of the company are the trustees named on page 1. In the event the charity is wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (March 2018), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Bexley Voluntary Service Council Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charitable company to continue as a going concern. This is made in respect of a period of at least one year from the date of authorisation for issue of the financial statements.

Prudent revised forecasts have been prepared for the coming year.. Therefore having considered the information available to them, the trustees have concluded there are no material uncertainties about the charity’s ability to continue as a going concern and that it remains appropriate to continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Page 15

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited (A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

2. Accounting policies (continued)

2.4 Expenditure (continued)

Support costs are those costs incurred directly in support of expenditure on the objects of the charity.

All expenditure is inclusive of irrecoverable VAT.

Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Intangible assets and amortisation

Intangible assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Computer software - 10 %

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Page 16

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited (A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

2. Accounting policies (continued)

2.7 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment - 25%

2.8 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.9 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the lease term.

2.10 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

2.11 Fund accounting

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

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

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

Page 17

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

3. Income from donations and legacies

Unrestricted
funds
2024
£
Donations
78
Analysis of 2023 total by fund
40
Income from charitable activities
Unrestricted
funds
2024
Restricted
funds
2024
£
£
Income from charitable activities - Voluntary
activity in Bexley
1,123,768
108,380
Analysis of 2023 total by fund
719,533
116,389		 Total
funds
2024
£
78
40
Total
funds
2024
£
1,232,148
835,922		 Total
funds
2023
£
40
Total
funds
2023
£
835,922

4. Income from charitable activities

Page 18

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

5. Income from charitable activities

Unrestricted
funds
2024
£
London Borough of Bexley infrastructure grant
247,200
London Borough of Bexley community
connect contract
446,827
CYFPO funding
7,409
City Bridge Trust grant
-
Pathways
85,195
NAVCA Cost of living
-
Young Londoners Fund
-
Other funding
2,727
Slade Green Big Local
-
Food Roots Crisis
-
Diabetes CKD Health & Wellbeing
35,810
Health Inequalities Fund London Borough of
Bexley
30,000
London Plus Community Resilience
5,000
Hospital Discharge Project
130,000
Community Champions
85,000
Comic Relief Sports Inclusion Network
-
Post Code Lottery
-
Lets Talk
-
Digital First
-
Digital Champions Project
48,600
Organisational Development
-
Total 2024
1,123,768
Analysis of 2023 total by fund
696,882		 Restricted
funds
2024
£
-
-
-
-
-
-
-
-
14,680
43,200
-
-
-
-
-
25,500
25,000
-
-
-
-
108,380
139,401		 Total
funds
2024
£
247,200
446,827
7,409
-
85,195
-
-
2,727
14,680
43,200
35,810
30,000
5,000
130,000
85,000
25,500
25,000
-
-
48,600
-
1,232,148
836,283		 Total
funds
2023
£
240,000
271,050
7,409
10,525
94,494
5,000
9,027
13,851
88,766
-
-
-
-
-
-
31,083
-
1,200
25,000
18,878
20,000
836,283

Page 19

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited (A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

6. Income from other trading activities

Income from fundraising events

Unrestricted
funds
2024
£
Income from fundraising events
(999)
Analysis of 2023 total by fund
1,191
Investment income
Unrestricted
funds
2024
£
Bank interest
3,163
Analysis of 2023 total by fund
1,629		 Total
funds
2024
£
(999)
1,191
Total
funds
2024
£
3,163
1,629		 Total
funds
2023
£
1,191
Total
funds
2023
£
1,629

7. Investment income

8. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2024
£
Voluntary activity in Bexley
814,020
Analysis of 2023 total by fund
581,272		 Restricted
funds
2024
£
123,068
153,730		 Total
2024
£
937,088
735,002		 Total
2023
£
735,002

Page 20

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

9. Analysis of expenditure by activities

Voluntary activity in Bexley
Analysis of 2023 total by type		 Direct costs
2024
£
610,837
547,547		 Grant
funding of
activities
2024
£
144,258
38,732		 Support
costs
2024
£
181,993
148,723		 Total
funds
2024
£
937,088
735,002		 Total
funds
2023
£
735,002

Analysis of direct costs

Staff costs
Staff expenses
Organisation support
Marketing
Printing, postage and stationery
Computer and software		 Total
funds
2024
£
590,989
702
-
51
490
18,605
610,837		 Total
funds
2023
£
479,273
-
60,500
-
-
7,774
547,547

Page 21

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Staff expenses
Volunteers' expenses
Marketing
Rent and hire of premises
Printing, postage and stationery
Telephone and internet
Subscriptions
Computer and software
Legal and professional
Consultancy
Annual General Meeting expenses
Independent examination fees
Other support costs		 Total
funds
2024
£
25,801
14,554
12,325
29,976
9,393
41,745
2,919
3,992
798
9,055
-
6,926
74
8,715
15,720
181,993		 Total
funds
2023
£
24,509
9,365
9,022
14,851
2,296
47,297
7,519
3,440
328
7,571
4,561
7,243
1,071
3,510
6,140
148,723

10. Auditor's remuneration

2024 2023
£ £
Fees payable to the charity's independent examiner for the independent
examination of the charity's annual accounts (inclusive of VAT) - 3,330
Fee Payable to auditor for audit services (inclusive of VAT) 7,800 -
Fees payable to the charity's auditor in respect of:
All non-audit services not included above 133 180

Page 22

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

11. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
548,387
51,110
31,924
631,421		 2023
£
453,566
39,874
23,776
517,216

The average number of persons employed by the charity during the year was as follows:

Management and administration
Charitable activities
Fundraising activities		 2024
No.
3
15
1
19		 2023
No.
3
10
2
15

No employee received remuneration amounting to more than £60,000 in either year.

The key management personnel of the trust comprise the trustees and the senior management team. The total amount of employee benefits (including employer pension contributions and employer national insurance contributions) received by key management personnel for their services to the charity was £97,539 (2023 - £89,561) .

12. Trustees' remuneration and expenses

During the year, no trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 March 2024, no trustee expenses have been incurred (2023 - £NIL) .

Page 23

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

13. Intangible assets

Cost
At 1 April 2023
Additions
At 31 March 2024
Amortisation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Software
£
39,780
33,960
73,740
9,623
7,374
16,997
56,743
30,157

Page 24

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

14.
Tangible fixed assets
Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
On disposals
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
15.
Debtors
Trade debtors
Prepayments and accrued income		 2024
£
174,239
33,314
207,553		 Office
equipment
£
25,640
15,856
(4,910)
36,586
10,852
7,180
(2,976)
15,056
21,530
14,788
2023
£
51,199
46,210
97,409

Page 25

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

16. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 April 2023
Resources deferred during the year
Amounts released from previous periods		 2024
£
10,795
13,447
4,209
14,895
43,346
2024
£
169,291
6,733
(169,291)
6,733		 2023
£
18,837
10,665
3,444
174,177
207,123
2023
£
125,035
169,291
(125,035)
169,291

Page 26

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

17. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Hospital Discharge Project
Equipment fund
Community connect post Oct
2022
Premises
Operational Contingency
Digital First
Digital Champions Network
NAVCA Cost of living
Pathways
Community Champions
Just Like Us
Diabetes CKD Health &
Wellbeing
General funds
General fund
Total Unrestricted funds
Restricted funds
City Bridge Trust
Samaritans
Food Roots Crisis
Slade Green Big Local
Sports Inclusion
Guys - Health & Wellbeing
Postcode Lottery		 Balance at 1
April 2023
£
-
10,000
129,798
40,000
150,000
25,000
5,649
600
10,432
-
-
-
371,479
281,934
653,413
4,173
247
-
40,962
709
30,000
-		 Income
£
130,000
-
446,827
-
-
-
48,600
-
85,195
85,000
1,800
35,810
833,232
292,778
1,126,010
-
-
43,200
14,680
25,500
-
25,000		 Expenditure
£
(8,648)
(15,856)
(477,725)
-
-
(20,000)
(14,900)
(600)
(89,077)
(14,601)
(1,000)
(8,321)
(650,728)
(177,923)
(828,651)
(4,173)
(163)
(8,640)
(55,642)
(27,950)
(26,500)
-		 Transfers
in/out
£
-
15,856
-
-
-
(5,000)
-
-
-
-
-
-
10,856
(25,856)
(15,000)
-
-
-
-
15,000
-
-		 Balance at
31 March
2024
£
121,352
10,000
98,900
40,000
150,000
-
39,349
-
6,550
70,399
800
27,489
564,839
370,933
935,772
-
84
34,560
-
13,259
3,500
25,000

Page 27

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

17. Statement of funds (continued)

Statement of funds - current year (continued)

Total of funds Balance at 1
April 2023
£
76,091
729,504		 Income
£
108,380
1,234,390		 Expenditure
£
(123,068)
(951,719)		 Transfers
in/out
£
15,000
-		 Balance at
31 March
2024
£
76,403
1,012,175

Page 28

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited (A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

17. Statement of funds (continued)

The specific purposes for which the funds are to be applied are as follows:

Designated funds

The premises fund is held separately to contribute to the expected costs of specific future expenditure.

Operational contingency is held separately for future operational costs.

The equipment fund is held to contribute towards the cost of new equipment for the Charity.

The community connect designated fund is for supporting local people to improve their health and wellbeing by connecting them with activities, support and services in the community.

The Let's Talk designated fund is held in relation to a small grant project for health and wellbeing on behalf of the NHS.

The Pathways fund is used to provide a social care service to adult residents with non-complex care and support needs

The Digital Network and Digital Champions funds is for the project, helping the sector to address digital inclusion across the borough.

NAVCA Cost of living fund is to help small groups through the cost of living.

Diabetes CKD/Health & Wellbeing - to provide a full time Peer Support Health & Welbeing Coach within the Social Prescribing service.

Restricted funds

Restricted funds from the City of London Corporation’s charity, City Bridge Trust, is funding towards the cost of an Impact Officer, training and on-costs associated with the Impact in Action project.

The Samaritans fund is used to buy essential items for residents living in poverty on a case by case basis.

Food Roots Crisis - to help improve the sustainability and resilience of local food partnerships and food aid approaches.

The Slade Green Big Local fund is for the Charity to deliver outcomes under the Slade Green Big Local plan, as a locally trusted organisation, to benefit the community and people of Slade Green.

The Sports Inclusion fund is a joint funding initiative between Comic Relief and the Greater London Authority to ensure the charity's continuation of it's principal activities and objectives as noted in the trustees' report.

The Guys - Health & Wellbeing fund is to support the staff health and wellbeing at Place.

Postcode lottery - to support BVSC as a good cause local to one of the winning Millionaire Street postcodes.

Page 29

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Equipment fund
Community connect pre Oct
2022
Community connect post Oct
2022
Premises
Operational Contingency
Digital First
Digial Champions Network
NAVCA Cost of living
Pathways
Community Champions
General funds
General fund
Total Unrestricted funds
Restricted funds
City Bridge Trust
Samaritans
Food Roots Crisis
Slade Green Big Local
Sports Inclusion
Guys - Health & Wellbeing		 Balance at
1 April 2022
£
10,000
137,318
-
40,000
150,000
-
-
-
-
3,790
341,108
188,456
529,564
2,112
470
-
42,960
14,052
50,000
109,594		 Income
£
-
104,250
166,800
-
-
25,000
18,878
5,000
94,494
1,200
415,622
283,759
699,381
10,525
-
9,027
88,766
31,083
-
139,401		 Expenditure
£
(7,155)
(124,329)
(154,241)
-
-
-
(13,229)
(4,400)
(84,062)
(4,990)
(392,406)
(202,300)
(594,706)
(8,464)
(223)
(9,027)
(86,590)
(29,426)
(20,000)
(153,730)		 Transfers
in/out
£
7,155
-
-
-
-
-
-
-
-
-
7,155
12,019
19,174
-
-
-
(4,174)
(15,000)
-
(19,174)		 Balance at
31 March
2023
£
10,000
117,239
12,559
40,000
150,000
25,000
5,649
600
10,432
-
371,479
281,934
653,413
4,173
247
-
40,962
709
30,000
76,091

Page 30

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

17. Statement of funds (continued)

Total of funds 639,158 838,782 (748,436) - 729,504

18. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
21,530
Intangible fixed assets
56,743
Current assets
900,845
Creditors due within one year
(43,346)
Total
935,772
Analysis of net assets between funds - prior period
Unrestricted
funds
2023
£
Tangible fixed assets
14,788
Intangible fixed assets
30,157
Current assets
815,591
Creditors due within one year
(207,123)
Total
653,413		 Restricted
funds
2024
£
-
-
76,403
-
76,403
Restricted
funds
2023
£
-
-
76,091
-
76,091		 Total
funds
2024
£
21,530
56,743
977,248
(43,346)
1,012,175
Total
funds
2023
£
14,788
30,157
891,682
(207,123)
729,504

Page 31

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

19. Reconciliation of net movement in funds to net cash flow from operating activities

Net income for the period (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Amortisation charges
Dividends, interests and rents from investments
Loss on the disposal of fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
20.
Analysis of cash and cash equivalents
Cash in hand
21.
Analysis of changes in net debt
At 1 April
2023
£
Cash at bank and in hand
794,273		 2024
£
282,671
7,180
7,374
(3,163)
1,934
(110,144)
(163,777)
22,075
2024
£
769,695
Cash flows
£
(24,578)		 2023
£
90,346
5,387
3,978
(1,629)
1,363
(43,433)
55,866
111,878
2023
£
794,273
At 31 March
2024
£
769,695

22. Pension commitments

The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £31,926 (2023 - £23,776) . There was £4,209 contributions payable to the fund at the balance sheet date (2023 - £3,444) .

Page 32

Docusign Envelope ID: DBDFAF9A-D7DB-4052-A433-4A2AA1A35F3A

Bexley Voluntary Service Council Limited

(A company limited by guarantee)

Notes to the Financial Statements For the year ended 31 March 2024

23. Operating lease commitments

At 31 March 2024 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2024 2023
£ £
Not later than 1 year - 2,134

The following lease payments have been recognised as an expense in the Statement of financial activities:

2024 2023
£ £
Operating lease rentals 2,134 3,915

24. Money held as agent

During the year the charity received £194,190 from the council to distribute grants. The charity is holding this fund as an agent, as at the balance sheet date no grants had been awarded and therefore £194,190 was outstanding between the charity and the council.

25. Related party transactions

The charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the charity at 31 March 2024.

Page 33