Trustees’ Annual Report and Financial Statements Year ending 31 March 2025
For the year ended 31 March 2025
Volunteering Matters
Contents
3 Chair’s Report 5 Chief Executive’s Report 8 Report of the Trustees including the Strategic Report 18 Independent Auditor's Report to the Trustees 23 Volunteering Matters Statement of Financial Activities 24 Volunteering Matters Balance Sheet 25 Volunteering Matters Statement of Cash Flows 27 Notes to the Financial Statements
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Chair’s Report
I am proud to present this year’s annual report and financial statements for Volunteering Matters.
It has been a year of purpose, resilience, and progress, as we continue to harness the power of volunteering to create stronger and fairer communities across the UK.
Volunteering Matters exists because we believe that volunteering should be inclusive, transformative, and led by the people closest to the issues that matter most. Over the past year, our work has remained rooted in that belief and supported thousands of volunteers to connect, lead, and create positive change in their communities.
This year, we made significant strides in stabilising our financial position, delivering impact through flagship programmes, and aligning our operations with a bold, futurefacing strategy. We completed a vital phase of organisational restructuring, creating a more agile, efficient model better suited to today’s challenges. We embedded new systems to improve how we manage people, data and finances, and have taken steps to ensure a more robust approach to risk, compliance and governance.
We have worked hard to reduce historic deficits and spearhead a financial recovery plan that prioritises long-term sustainability. Although the year-end position was not as strong as we had hoped - due to delays in public funding linked to the General Election, intense demand on grant-makers, and continuing cuts in local authority budgets - we entered 2025 in a far stronger position. The early part of this new financial year has seen significant progress, and it is clear that the sound financial management, improved forecasting, and leaner operating structure we put in place are now beginning to turn the picture around. Encouragingly, several multi-year funding awards have been secured, our
new business pipeline is tracking ahead of target, and confidence among partners and funders is visibly strengthening.
We are also actively working to diversify our income base - building new relationships with corporate partners, exploring major donor and philanthropic opportunities, and strengthening our earned income potential where appropriate. Unrestricted income remains a key priority, and the Trustees and executive team continue to closely monitor performance against our financial recovery plan. All financial decisions are aligned to our charitable objectives and long-term strategic goals, ensuring that we can continue to invest in volunteer-led social action where it is needed most.
This year, we welcomed nearly 2,000 more volunteers than in the previous year — proof of a growing appetite for meaningful community involvement and our ability to connect people with purpose. These volunteers came from all walks of life, spanning all ages and communities across the UK. As a result, we reached 20% more beneficiaries, demonstrating both the scale and depth of our programmes' impact through national programmes like Grandmentors, Action Earth, Family Mentors, and RSVP (Retired and Senior Volunteer Programme), we have tackled loneliness, improved health and wellbeing, empowered young people, supported intergenerational connection, and reduced barriers to opportunity. Alongside these flagship programmes, we are incredibly proud of the many diverse, small-scale, volunteer-led projects rooted in communities across the UK. These locally driven initiatives are often the first to respond to emerging needs—providing practical support, trusted relationships, and deep community connection in ways that statutory services may lack the
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capacity, pathways, or local trust to deliver.
We have also strengthened our partnerships across the sector and contributed to national policy conversations on the role of volunteering in civil society. A particular highlight this year has been our role in shaping and delivering the National Youth Strategy in partnership with UK Youth, the #iWill Movement and other sector leaders. This work has championed the voice and leadership of young people and reinforced the importance of youth-led social action as a route to tackling inequality, building confidence and creating fairer futures. We are proud to stand alongside a generation of young changemakers, and to help ensure their priorities are reflected in national policy and investment.
We were also delighted to continue our long-standing relationship with key funders and partners, including the People’s Postcode Lottery, national governments, and local authorities. These partnerships have been vital in sustaining our programmes and amplifying our impact across communities.
This year has not been without its challenges. Like many charities, we have faced inflationary pressures, rising demand, and an increasingly complex external environment. However, we have responded with care and clarity - grounded in our values, guided by lived experience, and supported by a skilled and committed staff and volunteer team.
I would like to extend my heartfelt thanks to our Chief Executive, Amanda Naylor OBE, whose vision and leadership have guided Volunteering Matters through a
significant period of transformation. I also want to recognise the highly talented executive leadership team, whose expertise, creativity and resolve have been instrumental in driving our strategy forward and delivering impact across all parts of the organisation. And of course, sincere thanks to my fellow Trustees, our volunteers, partners, and all staff for their unwavering commitment to the mission of Volunteering Matters.
As we look ahead, we remain focused on building a volunteering ecosystem that is inclusive, equitable, and ready to meet the needs of our time. We will continue to advocate for volunteering as essential social infrastructure and for the people and communities who make it happen every day.
Peta Foxall CBE Chair of the Board of Trustees Volunteering Matters
For the year ended 31 March 2025
Volunteering Matters
Chief Executive’s Report
It has been another year of both challenge and progress at Volunteering Matters. Amidst economic pressure, political uncertainty and deepening inequality, our belief in the power of volunteering to connect people, improve wellbeing and create social change has remained resolute.
Advancing Our Mission
Throughout the year, we sharpened our focus on how we design and deliver volunteer-led programmes that are data driven and centre mutuality, agency, and impact. We recruited and retained more volunteers than the previous few years, reaching more people and tackling inequalities with purpose.
We embedded our communities and programmes model to enhance local delivery and national reach — aligning more effectively with regional needs while ensuring a coherent, scalable approach to volunteering. Our programmes continue to span youth-led, intergenerational, older people and diverse demographic community-based volunteers, each contributing meaningfully to the fabric of UK civil society.
From environmental action in Scotland through Action Earth , to older people’s projects in Wales such as Welcome Friends (Rhondda Cynon Taf & Merthyr Tydfil), rooted in the Well-being of Future Generations Act , and health and social care initiatives like the continued evolution of Grandmentors and Family Mentors in England — we have strengthened our approach to walking alongside communities and co ‑ creating lasting change.
Centre Stage: Volunteer-Led Innovation
Over 12,000 volunteers contributed their time and talent this year — mentoring, campaigning, organising, befriending, practically helping and connecting. Their leadership and lived experience remain the cornerstone of our approach.
We prioritised access and inclusion, with programmes like LifeLines, SAFE and Match and Mentor breaking down barriers for disabled people and those furthest from opportunity. These projects remind us that truly inclusive volunteering must be built with communities, not simply offered to them.
Our employee volunteering offer also grew, enabling corporate teams to make meaningful contributions in partnership with grassroots organisations. We ensured that volunteering days were not transactional but built around the needs and aspirations of communities — making corporate partnerships more impactful and values-driven and connecting them to the purpose of charities and community organisations.
Meanwhile, the further integration of #iWill and RSVP into our wider ecosystem reflects our commitment to youth-led and older-people-led social action. These networks are now central to our ambitions to scale Towns and Cities of Social Action , creating places where volunteering and community-led systems change is interwoven into daily life and civic infrastructure.
Volunteering in Health and Social Care
One of the most promising developments this year has been the expanding role of volunteering within the health and care landscape.
Programmes such as Sporting Chance in Stockton, Home from Hospital initiatives, and Community Connectors in Suffolk are tackling key health challenges — preventing deterioration in wellbeing, reducing isolation, and easing pressure on overstretched NHS and social care
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systems. Nationwide, our befriending schemes and walking groups continue to tackle loneliness and support older people and carers to stay active, connected and well. These aren’t just helpful extras — they are foundational to a more resilient, preventative and neighbourhood-powered model of health and wellbeing.
In Forth Valley Scotland, our RSVP hearing aid maintenance service is a standout example of peer-led innovation. Delivered by trained volunteers, many with lived experience of hearing loss, the service provides cleaning, maintenance, and advice (as well as a friendly chat, a cup of tea and social interaction) — freeing up NHS audiologists to focus on more specialist care. The result is a more efficient system, improved patient experience, and significantly faster access to support, with weekly drop-ins replacing what was previously a 3–6 month waiting list.
only for sustaining delivery but for enabling long-term planning, innovation, and stability. Multi-year funding relationships give us the confidence and flexibility to match fund, invest in what communities tell us they need, build deeper trust, and deliver greater impact over time.
Stronger Foundations
We’ve also invested heavily in strengthening our infrastructure. Our new policy framework reinforces our values and legal duties, while recent enhancements in safeguarding and cyber security have strengthened both compliance and trust. We are rolling out enhanced training for Designated Safeguarding Leads and embedding digital tools to improve reporting, learning and safety across all programmes.
A Year of National Influence
Crucially, this immediate access is transforming lives — helping patients stay connected, engaged, and independent. For many, being able to hear without delay means avoiding months of debilitating isolation, frustration, and anxiety. It enhances confidence, supports mental wellbeing, and allows people to participate fully in family and community life. This model not only delivers significant savings to the NHS but restores a vital sense of dignity and connection for those who rely on hearing support.
Investing in Sustainability
2024/25 marked another critical year in our financial recovery. While the external funding environment has remained volatile, we delivered key milestones in diversifying income, strengthening forecasting, and growing unrestricted and flexible funding.
Our longstanding relationship with the People’s Postcode Lottery reached its ninth year, and we secured several strategic multi-year grants across the UK. These partnerships are essential — not
This year, we helped shape national conversations about the future of volunteering. As Co-Chair of the Vision for Volunteering , a member of Shaping the Future of Volunteering, a key implementation partner to the National Youth Strategy and a contributor to the Civil Society Covenant development, we continued to elevate the voice of volunteers in shaping systems and policy.
We see volunteering as core social infrastructure — essential to strengthening democracy, wellbeing, and inclusion. This belief underpins our contribution to the UK Government’s five key missions and shapes how we engage with devolved nations and emerging devolved areas across England. We will continue to champion locally led, volunteer-powered solutions — and advocate for fair, longterm, and sustainable funding that enables communities to lead change on their own terms.
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Looking Ahead
In October 2025, we launch our new organisational strategy — shaped by the voices of staff, volunteers, partners and communities. This will be a bold roadmap for the future, rooted in our mission but responsive to the realities of the world we work in.
I remain deeply grateful to our volunteers, staff and partners. You are the heartbeat of this organisation — and your commitment makes everything we achieve possible. At a time when the social fabric of the UK feels stretched, our mission is more relevant than ever. Volunteering Matters will continue to stand for dignity, participation, inclusion, and power in the hands of communities.
Amanda Naylor OBE Chief Executive Officer Volunteering Matters
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Future Plans
Volunteering Matters will continue to lead at the intersection of local action and national influence, empowering communities to thrive while shaping the policies that enable equity, trust, and social connection. Over the coming year, we will deepen our investment in impact measurement, digital innovation, and volunteer engagement to ensure we can adapt, respond, and grow sustainably in a rapidly changing world.
In October 2025, we launch our new organisational strategy, a pivotal milestone developed in partnership with the people and places we serve. This strategy will reaffirm our commitment to being bold, inclusive, and impactful. It will focus on scaling what works, deepening community-based partnerships, and embedding inclusive volunteering across all life stages. We will prioritise sustainable delivery models, invest in digital and data, and strengthen our role as a national voice for volunteer-led social action.
As part of this, we are committed to expanding into new geographies, particularly those underserved by existing infrastructure, and to scaling the reach of our most impactful programmes, ensuring more communities across the UK benefit from our proven models of volunteering and social action.
These priorities are closely aligned with the UK Government’s five key missions: improving health outcomes, expanding educational opportunity, strengthening communities, and building a more resilient economy. They also reflect the ambitions of the NHS 10-Year Plan, which recognises that good health and wellbeing are rooted not just in clinical care, but in connection, prevention, and the power of community.
As a national charity rooted in place, powered by volunteers, and driven by inclusion, we are uniquely placed to support national renewal through locally
led change, harnessing the potential of communities to lead, support one another, and build a more equitable future together.
Our programmes will continue to span generations, from youth-led social action to support for older people and intergenerational mentoring. This reflects our core belief: that volunteering is a lifelong force for inclusion, resilience, and civic renewal.
As Co-Chair of the Vision for Volunteering, and a key partner in both Shaping the Future with Young People and the development of the new National Youth Strategy (in collaboration with #iWill partners), we are proud to have played a leadership role in amplifying the voice and power of communities and volunteers. We are especially proud that #iWill has attracted significant in-year investment, as announced by the Secretary of State during the May Spending Review. This has enabled us to lead the Towns and Cities of Youth Social Action initiative—an ambitious, groundbreaking programme that speaks to the ambition of young people who contributed to the National Youth Strategy consultation. This continued commissioning, and the trust placed in us to lead such high-profile national initiatives, underscores the strength of our offer and the confidence in our grounded experience in volunteering and social action models.
We also welcomed the launch of the Civil Society Covenant, a timely and important signal of the essential role that charities, volunteers, and grassroots action play in building a fairer and more inclusive society. We will use this platform to advocate to ensure that volunteering is not an afterthought, but a core part of how public services and community infrastructure are designed, delivered, and sustained. Volunteering is essential social infrastructure, it boosts wellbeing, trust, and cohesion, and must be supported through fair, consistent, and long-term funding.
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Financial Overview
The financial year ending 31 March 2025 concluded with Volunteering Matters reporting a net deficit of £120,000. While this outcome was disappointing, it is important to recognise the context: we had set ourselves an ambitious goal, to break the pattern of consecutive year-on-year deficits and deliver a small surplus.
We made significant progress during the year, reducing our cost base, tightening expenditure controls, and developing new income streams. However, these improvements did not have sufficient time to fully translate into in-year results. Many of the structural changes, particularly those around financial management, systems improvement, and pipeline development, were implemented in the second half of the year, laying strong foundations for future sustainability.
Delays in the release of funding due to successive election periods and changes in cash flow projections, and reforecasting challenges because of these delays added further pressure. In response, the Executive Leadership Team acted decisively to strengthen financial oversight and prevent recurrence. Key improvements included:
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Strengthening forecasting and accrual processes, with a particular focus on year-end accuracy;
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Introducing monthly variance reviews and more robust internal reporting routines;
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Undertaking a full review of our purchasing system to ensure all spending is backed by purchase orders, improving visibility and control.
As a result, we entered April 2025 with stronger systems, greater financial discipline, and real momentum. By the end of Quarter 1, we had already achieved 84% of our annual new business target, well ahead of progress at the same point in any of the past three years. Our income pipeline now exceeds £5,000,000, supported by multi-year funding carried
forward and several high-confidence opportunities in development.
Renewals from existing funders have also been particularly strong, including £377,000 in confirmed support for our Employee Volunteering Programme, with additional renewals anticipated throughout the year. Our unrestricted income targets remain on track, supported by diverse sources including the People’s Postcode Lottery, Gift Aid, community fundraising, and rental income.
Alongside this, we are continuing to invest in financial innovation. Development of a new income reporting tool within Business Central is well underway. This will enhance our ability to monitor, report, and manage income in real time, improving accuracy, agility, and decision-making.
Looking ahead, we have increased confidence in our financial resilience. With improved controls, a strong and diverse income pipeline, and disciplined cost management, Volunteering Matters is better positioned to deliver its mission sustainably and with increasing impact.
Reserves Review
The Trustees regularly review the charity’s reserves to ensure financial stability, manage risk, and support strategic planning. Reserves are held to protect the charity against fluctuations in income, unexpected expenditure, and to ensure continuity of essential services.
As at 31 March 2025, the charity held total reserves of £1,317,000, of which £nil were restricted and £1,317,000 were unrestricted. Within unrestricted reserves, £nil have been designated for specific future projects, leaving a deficit of£824,000 in free reserves (after deducting fixed costs from unrestricted funds).
The Trustees have set a reserves policy that aims to maintain reserves equivalent to 3 months of operational expenditure.
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Free reserves as at 31 March 2025 stands at a deficit of £824,000, which is below the target stated in the reserves policy. Therefore, we are committed to build these reserves to ensure the stability of the organisation.
The Trustees acknowledge that the current level of free reserves falls below the target range. Plans are in place to rebuild reserves over the coming years through prudent cost control and fundraising initiatives.
The Trustees are committed to regular monitoring of reserves to ensure they remain aligned with the charity’s operational needs and long-term objectives.
Going Concern Statement
The directors have assessed the charitable company’s going concern status as at the date of approval of the 2025 financial statements and are satisfied that the company remains a going concern. Accordingly, the financial statements have been prepared on that basis.
We draw attention to Note 1b in the financial statements, which indicates that the charity incurred a net operating deficit of £120,000 during the year ended 31 March 2025 (2024: £606,000 operating deficit) and continues to report negative free reserves of £824,000 (2024: £782,000 deficit). At the balance sheet date, the charity also held an overdrawn cash position.
The Trustees have already taken action to reduce expenditure, strengthen financial controls, and diversify income sources. These steps have contributed to a marked reduction in the annual deficit and greater overall stability.
The Trustees now recognise the need to move beyond stabilisation to recovery. A five-year financial recovery plan has been initiated to rebuild reserves, strengthen free reserves, and ensure long-term
sustainability in line with the new organisational strategy.
As part of this plan, the Trustees have taken into account the value, ongoing maintenance, and potential of the Levy Centre, our main asset, to ensure it aligns with our long-term financial strategy. The organisation relies on a combination of major donors, grants, contract income, bank support, and operating surpluses to fund its activities. It currently meets working capital requirements through available cash resources, future project income, and access to overdraft facilities of £500,000. As of the balance sheet date, a £361,000 overdraft facility remained undrawn, providing sufficient short-term liquidity headroom to manage timing differences in income receipts.
While the directors have explored longerterm bank finance to reduce reliance on contract timing, the organisation continues to depend on overdraft support as of the approval date of the 2025 financial statements.
In response to the broader economic climate, the charity has implemented costsaving measures and continues to pursue both the renewal of existing contracts and the acquisition of new funding. As part of this phased approach to cost control, the organisation has prioritised reductions in non-staff expenditure—such as infrastructure, IT, and discretionary operational costs—before considering staffing-related measures. This reflects our commitment to protecting people and frontline delivery wherever possible. In parallel, and in line with our equity, diversity, and inclusion priorities, we remain committed to investing in our people and retaining diverse talent, even during periods of constraint.
The organisation operates in a landscape shaped by fluctuating external circumstances, including changes in government policy, shifts in funding cycles, and wider economic pressures. In light of this, the Trustees have approved a robust business continuity plan to ensure we can adapt quickly, protect programme delivery, and safeguard both our people
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and the communities we serve. This plan complements our financial recovery strategy, providing a structured approach to maintaining operations and meeting obligations even under adverse scenarios.
The organisation has already secured and made good progress on income targets in early 2025/26 and has now realised the full range of planned cost savings. As of November 2025, 93% of 2025/26 income has been secured, with a further £910,000 confirmed for 2026/27. The charity has an active pipeline of live bids totalling £3m, of which 30% is considered highly likely to convert in 2026/27 based on historical success rates. Should key bids not materialise, the Trustees have approved a tiered contingency plan, including phased cost reductions beginning with non-staff expenditure, followed by staffing-related measures such as postponing recruitment and, if necessary, restructuring.
The draft projections for 2026/27 are based on a cautious view of anticipated funding outcomes. These projections include prudent assumptions regarding funder support, contract income, and cost control. While the achievement of forecast income and the ability to address historical deficits represent material uncertainties, the directors believe the assumptions are reasonable in light of current evidence and plans.
Therefore, having considered all relevant factors, the directors are confident that the charitable company has adequate resources to meet its obligations as they fall due for the foreseeable future. As such, the financial statements continue to be prepared on a going concern basis.
Our Fundraising Promise
At Volunteering Matters we strive for the highest standards in fundraising and want our supporters to be treated with honesty and respect. Volunteering Matters’ Board of Trustees, Executive Leadership Team and staff are all committed to adhering to the Code of Fundraising Practice and are proud to be registered members of the
Fundraising Regulator, which sets the standards of fundraising practices in the UK.
We do not employ third parties to fundraise on our behalf. We promise our supporters to keep their data secure and will never sell or pass it on to third parties. We comply fully with data protection controls as set out in the Data Protection Act 2018, and the General Data Protection Regulations (GDPR) that flow from this. We are committed to getting things right the first time and we take all complaints seriously. We have a formal complaints procedure and promise to make every effort to ensure all complaints are dealt with swiftly and appropriately. We are pleased to report that we received no complaints about our fundraising practices during our last financial year and will continue to adhere to the high standards our supporters expect.
Structure, Governance and Management
Volunteering Matters was founded in 1962 as an unincorporated charity. The present legal structure is a charitable company limited by guarantee, incorporated on 10 July 1979 and registered as a charity in England and Wales on 22 February 1985. Volunteering Matters is also registered as a charity in Scotland.
Volunteering Matters was set up under a Memorandum of Association which established the objects and powers of the organisation and is governed under its Articles of Association. The objects of the charity are the advancement of citizenship and community development through the promotion of volunteering.
The Board of Trustees (Board) Volunteering Matters comprises the Charity’s Trustees and is responsible for the governance and establishment of operating policies across Volunteering Matters. The Board also has responsibility for the control and monitoring of the application of these policies. All the
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members of the Board are statutory directors and charity Trustees.
Volunteering Matters’ will continue to recruit trustees using a process of open recruitment as trustees come to the end of their terms of office or wish to stand down. The chairs of committees are appointed based on interest and skills. All trustees are provided with an induction programme that covers the following areas:
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Roles and responsibilities of a trustee
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Key financial issues
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Brand, reputation and code of conduct
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Programmes, projects and operations
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Documentation and resources
In addition, they are issued with the NCVO handbook for trustees.
In terms of training, trustees are given every opportunity to attend appropriate development sessions.
All trustees are offered the possibility of visiting Volunteering Matters projects and meeting staff and volunteers so that they have an opportunity to hear from programmes and projects local to that area.
The following Board committees meet regularly:
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The Finance and Audit Committee is responsible for ensuring that effective internal governance controls, processes and systems are in place, particularly in relation to legal, audit, financial and risk; as well as maintaining oversight of charity finances, financial strategy and investment policy. The Finance and Audit Committee also receives the report from the external auditors, reviews and responds to the findings and recommendations and then monitors the implementation of agreed actions to address issues raised.
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The Culture Committee (inaugural meeting November 2024) that will oversee the implementation of our Equality Diversity, Inclusion and Anti-Racism (EDIA) strategy. This Committee, comprising of Trustees, CEO and COO and staff network leads, will monitor and support the implementation of the EDIA plan and ensure that all Board decisions are made with EDIA considerations at the fore.
The day-to-day operational responsibilities for Volunteering Matters are devolved by the Board to the Chief Executive, the Executive Leadership Team and operational managers, who remain responsible to the Board for all aspects of performance. The Executive Leadership Team comprises the Chief Executive, Chief Operating Officer, Director of Business Development and Corporate Partnerships and the Head of Finance. Key management personnel comprise the Trustees and the Executive Leadership Team.
Remuneration policy
The pay structure in Volunteering Matters is regularly benchmarked against equivalent external roles in our sector. Human Resources monitors our pay and reward strategy, remuneration reviews and all related policies. The organisation is committed to an equal pay policy to ensure staff pay reflects the skills and experience required to perform their roles to a high standard.
Statement of Board of Trustees Responsibilities
The Board (which comprises the directors of Volunteering Matters for the purposes of Company law and the Trustees for the purposes of charity law) are responsible for preparing this report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including
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Financial Reporting Standard FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Company law requires the Board 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 the group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Board members are required to:
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select suitable accounting policies and then apply them consistently;
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• observe the methods and principles in the Charities SORP (FRS 102);
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make judgments and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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and prepare the financial statements on the going concern basis unless it is inappropriate to presume charitable company will continue in operation.
The Board are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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.
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there is no relevant audit information of which the charitable company’s auditors are unaware; and
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Board members have taken all steps they ought to have taken to make themselves aware of any relevant audit information and to establish the auditors are aware of that information.
Appointment of New Auditor
During this financial year, the Volunteering Matters has appointed Price Bailey LLP as its external auditor, replacing Saffery LLP , whose term ended in accordance with regulatory or internal policy requirements.
The appointment of Price Bailey LLP was approved by the Board at the Board Meeting held on 16 July 2025, upon the recommendation of the Finance and Audit Committee. The Board is confident that the new auditors bring the necessary expertise, independence, and experience to continue delivering high-quality audit services.
We would like to take this opportunity to thank Saffery LLP for their professional service and valuable contributions over the past 10 years.
The report of the trustees, which includes the strategic report, has been approved by the Board and signed on their behalf by:
Peta Foxall CBE Chair of the Board 9[th] December 2025
Insofar as the Board are aware:
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Our team
President Lord Freud
Chair
Peta Foxall CBE (Appointed 10 October 2024)
Company Secretary Amanda Naylor OBE
Trustees
| Trustees | |
|---|---|
| Simon Judge | |
| Zara Todd | |
| Julie-Anne Jamieson | |
| Sacha Tokhmeh Foroush Hamed | |
| Julie Kirkbride | (Resigned 16 July 2025) |
| Katrina Lambert | |
| Sue Maskrey | (Resigned 12 February 2025) |
| Katie Farrington | |
| Lanai Collis-Phillips | (Resigned 16 July 2025) |
| Moawia Bin-Sufyan | |
| Craig Hamilton | (Resigned 3 July 2024) |
| Pru Whitwell | (Resigned 3 July 2024) |
| Anne Heal | (Resigned as Chair 10 October 2024) |
Committee and Portfolio Chairs
| Finance and Audit Committee | Simon Judge |
|---|---|
| Culture Committee | Zara Todd |
| Safeguarding Portfolio | Julie-Anne Jamieson |
| Health and Safety Portfolio | Sacha Tokhmeh Foroush Hamed |
| Whistleblowing Portfolio | Zara Todd |
Company information
| Company Registration No. | 01435877 |
|---|---|
| Charity Registration No. | SC039171 (Scotland) |
| Charity Registration No. | 291222 (England & Wales) |
| Company Secretary | CEO: Amanda Naylor OBE |
| Principal Address | Volunteering Matters |
| The Levy Centre | |
| 18-24 Lower Clapton Road London | |
| E5 0PD |
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Independent Auditor's Report to the Members and Trustees of Volunteering Matters
Opinion
We have audited the financial statements of Volunteering Matters for the year ended 31 March 2025 which comprise statement of financial activities, statement of financial position, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:
• give a true and fair view of the charitable company’s state of affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including
the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Material uncertainties related to going concern
We draw attention to note 1 (b) in the financial statements, which indicates that the company incurred a net operating expenditure for the year ended 31 March 2025 of £120,000 (2024: £606,000). The charitable company is awaiting, at the date of approval of accounts, the outcome of a number of funding applications for both renewal and new business contracts which remain uncertain at the date of approval. The Trustees are also relying on short term bank finance and future project income for operational needs at the date of approval. The trustees continue to undertake a review of operations so that the organisation is best placed to adjust its programme of activities to deliver future operating surpluses and to match available resources, given the likely range of outcomes. These events or conditions along with other matters as set forth in note 1 (b), indicate that material uncertainties exist which may cast doubt on the company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in relevant sections of this report.
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Volunteering Matters
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. 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.
Other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Trustees’ Annual Report which includes the Directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-
the Trustees’ Annual Report which includes the Directors’ Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified
material misstatements in the Trustees’ Annual Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees’ 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 in preparing the Trustees’ Annual Report.
Responsibilities of trustees
As explained more fully in the Trustees’ Responsibilities Statement set out on page 14, the trustees (who are also 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
19
For the year ended 31 March 2025
Volunteering Matters
or to cease operations, or have no realistic alternative to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditors under the Companies Act 2006 and under the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with regulations made under those Acts.
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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.
Identifying and assessing risks related to irregularities:
We assessed the susceptibility of the charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring
these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions with trustees and updating our understanding of the sector in which the charitable company operates.
Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and guidance issued by the Charity Commission for England and Wales and the Office of the Scottish Charity Regulator.
Audit response to risks identified:
We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.
During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in
20
For the year ended 31 March 2025
Volunteering Matters
making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.
There are inherent limitations in the audit procedures described above 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 would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council’s website.
Kenneth McDowell (Senior Statutory Auditor) for and on behalf of Saffery LLP 9 Haymarket Square Edinburgh EH3 8RY Statutory Auditors Date: 10 December 2025
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
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, and to the charitable company’s trustees as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees 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, the charitable company’s members and trustees as a body, for our audit work, for this report, or for the opinions we have formed.
21
Financial Statements Year ending 31 March 2025
22
For the year ended 31 March 2025
Volunteering Matters Statement of Financial Activities
| Unrestricted funds |
Restricted funds |
Total | Total | ||
|---|---|---|---|---|---|
| Notes | 31 March 2025 | 31 March 2025 |
31 March 2025 |
31 March 2024 |
|
| £’000 | £’000 | £’000 | £’000 | ||
| Income | |||||
| Donations and legacies | 2 | 264 | 280 | 544 | 524 |
| Charitable activities | 3 | 1,593 | 3,558 | 5,151 | 5,455 |
| Total income | 1,857 | 3,838 | 5,695 | 5,979 | |
| Expenditure | |||||
| Raising funds | 137 | - | 137 | 299 | |
| Charitable activities | 1,840 | 3,838 | 5,678 | 6,286 | |
| Total expenditure | 4 | 1,977 | 3,838 | 5,815 | 6,585 |
| Other | |||||
| Operating deficit (excluding exceptional item) |
(120) | - | (120) | (606) | |
| Net (expenditure) for the year |
(120) | - | (120) | (606) | |
| Gain on property revaluation |
- | - | - | 1,050 | |
| Net movement in funds | (120) | - | (120) | 444 | |
| RECONCILIATION OF FUNDS |
|||||
| Total funds / (deficits) brought forward |
12 | 1,437 | - | 1,437 | 993 |
| Total funds / (deficits) carried forward |
12 | 1,317 | - | 1,317 | 1,437 |
There were no recognised gains or losses other than those stated above. All the above results are derived from continuing activities. The notes form part of these financial statements.
23
For the year ended 31 March 2025
Balance Sheet
| Balance Sheet | |||
|---|---|---|---|
| Note | 2025 | 2024 | |
| £’000 | £’000 | ||
| Fixed assets | |||
| Tangible assets | 8 | 2,141 | 2,219 |
| Current assets | |||
| Debtors | 10 | 418 | 652 |
| Cash at bank and in hand | - | 28 | |
| Current assets | 418 | 680 | |
| Creditors: amount fallingdue within oneyear | 11 | (1,242) | (1,462) |
| Net current liabilities | (824) | (782) | |
| Total net assets | 1,317 | 1,437 | |
| The funds of the charity | |||
| Unrestricted funds | 12 | 1,317 | 1,437 |
| Restricted funds | 12 | - | - |
The notes form part of these financial statements.
The financial statements were approved and authorised for issue by the Board on 9[th] December 2025 and signed on their behalf by:
Peta Foxall CBE Simon Judge Chair of the Board of Trustees Chair of the Finance and Audit Committee
Company Registration No. 01435877
24
For the year ended 31 March 2025
Statement of Cash Flows
As at 31 March 2025
| 2025 | 2024 | |
|---|---|---|
| £’000 | £’000 | |
| Reconciliation of Cashflows from Operating Activities | ||
| Net expenditure | (120) | (606) |
| Depreciation charges | 68 | 121 |
| Decrease/(Increase) in debtors | 234 | 14 |
| Increase/(Decrease) in creditors | (369) | 24 |
| (187) | (447) | |
| Cash flows from investing activities | ||
| Purchase of fixed assets | (14) | (13) |
| Sale of fixed asset | 24 | - |
| Loss from sale of fixed assets | - | 48 |
| Net cash used in investing activities | (10) | (13) |
| Change in cash and cash equivalents in the period | (177) | (412) |
| Cash and cash equivalent brought forward | 28 | 440 |
| Total cash and cash equivalents carried forward | (149) | 28 |
25
For the year ended 31 March 2025
Movement on cash and cash equivalents
As at 31 March 2025
| As at 31 March 2025 | |||
|---|---|---|---|
| 31 March 2024 | Cashflow | 31 March 2025 | |
| £’000 | £’000 | £’000 | |
| Cash in hand | 28 | (177) | (149) |
| Overdraft | |||
Prior year movement
| Prior year movement | |||
|---|---|---|---|
| 31 March 2023 | Cashflow | 31 March 2024 | |
| £’000 | £’000 | £’000 | |
| Cash in hand | 440 | (412) | 28 |
| Overdraft | |||
26
Notes to financial statements
For the year ended 31 March 2025
1. Accounting policies
Volunteering Matters is a company limited by guarantee. It is also a registered charity in England and Wales, and in Scotland. The registered office address is The Levy Centre, 18-24 Lower Clapton Road, London, E5 0PD.
a) Basis of preparation of financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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) (effective 1 January 2019)',the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historic cost convention rules.
Company Status
The Charity is a private company limited by guarantee. The members of the Charity are the Board of Trustees as detailed on page 17.
The charity is incorporated in England and Wales and Scotland and registration numbers are detailed on page 17.
In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
b) Going concern policy
The directors have reviewed the going concern status of the company at the date of approval of the 2025 company financial statements.
The directors consider the company to be a going concern and the financial statements have been prepared on that basis.
At the balance sheet date, the charitable company had total funds of £1,317,000 (2024: £1,437,000). The company reported a deficit on free reserves of £824,000 at the balance sheet date, (after deducting fixed assets from unrestricted funds) and the Trustees expect to report a modest operating surplus of £84,000 as at, 31 March 2026.
The charitable company relies on bank funder support, grants and contract income from outside sources, the generation of future operating surpluses and sufficient ongoing operating cashflow to finance ordinary activities. The charitable company currently meets its day to day working capital requirements through available cash resources, including receipts from future project income and overdraft facilities to ensure that the company continues to meet obligations when they fall due.
The directors, mindful of economic headwinds, have taken steps to reduce operating costs to lower levels. The charity continues to seek the necessary contract and funding agreement renewals and new business conversion. As is common with many charitable organisations with income from contracts and other funding agreements, at the date of approval of the accounts, the charitable company is awaiting the outcome of a number of funding applications for both renewal and new business contracts.
These remain uncertain at the date of approval.
The forthcoming 2026/27 budget is built on a prudent view of these anticipated outcomes. The directors continue to undertake a review of operations to ensure the organisation is best placed to adjust its programme of activities to match available resources, given the likely range of outcomes.
Against this background, the directors have considered and approved management prepared financial operating projections for the period to 31 March 2027 which include assumptions for
27
Notes to financial statements
For the year ended 31 March 2025
funder support and anticipated costs and income which the directors consider to be reasonable and prudent. In arriving at these assumptions, the directors accept that adequate funder support, contract income to forecast levels and anticipated costs to enable the company to commence addressing past deficits are material uncertainties to the going concern basis of preparation at the date of approval of the financial statements.
However, having considered the matters above, the directors are of the view that, at the date of approval of the financial statements, the charity has sufficient reserves and other resources to continue to operate and meet debts as they fall due for the foreseeable future. Therefore, the financial statements have been drawn up on a going concern basis.
c) Income
Donations and legacies are included in full in the Statement of Financial Activities when receipt is probable, there is entitlement to receipt, and the amount can be reliably measured. Income from the provision of services is recognised in the financial statements during the period in which the service is carried out and therefore entitlement is earned.
Revenue grants are credited to the statement of financial activities when there is entitlement and probability of receipt and when the amount can be reliably measured. Contract income is recognised in the financial statements to the extent that entitlement has been earned at the period end.
Donated services are recognised on the basis of the value to the charity, which is the amount the charity would have been willing to pay to obtain services of equivalent economic benefit in the open market. A corresponding amount is then recognised in expenditure in the period of receipt Volunteering Matters is in the business of inspiring people to volunteer to change their communities. All the charity's projects are therefore dependent on volunteer input. However, the value of
volunteer time is not included in the financial statements.
d) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the funder.
Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other incoming resources received or generated for the charity's general purposes.
Designated funds are unrestricted funds earmarked by the Board for particular purposes and are equal to the net book value of the fixed assets of the organisation.
General funds is the measure of usage of free reserves, matched by the relevant net current assets on the balance sheet excluding restricted assets.
e) Resources expended
Resources expended are recognised on the accrual basis in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
Resources expended are allocated to the particular activity where the cost relates directly to that activity.
Raising funds relate to the costs incurred by the charity in raising funds for the charitable work.
Charitable expenditure, including grants payable, includes all costs incurred in fulfilling the organisation's charitable objectives.
Grants payable are charged to the Statement of Financial Activities in the period in which the offer is conveyed to the recipient.
Support costs are wholly allocated to charitable activities. Support costs in relation to phasing funds are considered to be immaterial.
28
Notes to financial statements
For the year ended 31 March 2025
Governance costs are the costs associated with the governance arrangements of the charity. These costs relate to constitutional and statutory requirements and the strategic management of the charity's activities.
f) Tangible fixed assets and depreciation
Items of equipment are capitalised where the purchase price including VAT, exceeds £2,000.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life.
| Leasehold property |
2% straight line |
|---|---|
| Plant and equipment |
33.3% straight line |
incurs. Expenditure is therefore charged inclusive of VAT to the activities that incur it. Any VAT that is recoverable is credited to the central finance function which reduces the costs of support services.
j) Financial instruments
Volunteering Matters only has financial instruments 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 amount with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Financial assets include debtor balances except prepayments as shown at Note 9 to the financial statements. Financial liabilities refers to all creditor balances including deferred income, tax and social security as shown at Note 10 to the financial statements.
g) Operating leases
Rent payable under operating leases, where substantially all the risks and rewards of ownership remain with the lessor, are charged to the Statement of Financial Activities on a straight-line basis over the minimum lease term.
h) Pension benefits
The charity participates in a defined contribution pension scheme (Pensions Trust’s Flexible Retirement Scheme). The charity’s contributions are charged to the Statement of Financial Activities during the period in which the employee is an active member of the scheme. Participation within this scheme is available to all current and future employees.
i) Recoverable VAT
Volunteering Matters services are largely exempt from Value Added Tax meaning that it cannot reclaim most of the VAT it
k) Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires judgements, estimations and assumptions to be made that affect the reported values of assets, liabilities, revenues and expenses. The nature of estimation and judgement means that the actual outcomes could differ from expectations.
The long leasehold property is valued professionally by an external valuer with relevant recent experience with the class of property being valued. An inevitable degree of estimation remains as each property is unique and can only be reliably tested in the market itself.
Tangible fixed assets are depreciated over a period to reflect their estimated useful lives. The applicability of the assumed lives are reviewed annually, taking into account factors such as physical condition, maintenance and obsolescence.
29
Notes to financial statements
For the year ended 31 March 2025
2. Donations and legacies
| 2. Donations and legacies | ||
|---|---|---|
| 31 March 2025 | 31 March 2024 | |
| £’000 | £’000 | |
| Individual and company donations (unrestricted) | 264 | 219 |
| Trusts and foundations(restricted) | 280 | 305 |
| 544 | 524 | |
3. Incoming resources from charitable activities
| 31 March 2025 |
31 March 2025 |
31 March 2025 |
31 March 2024 |
|
|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |
| £’000 | £’000 | £’000 | £’000 | |
| Individuals | - | 11 | 11 | 15 |
| National Grants including Big Lottery Fund |
1,095 | 322 | 1,417 | 1,579 |
| Government local and central |
15 | 2,312 | 2,327 | 2,554 |
| European Funding | - | - | - | 1 |
| Trusts and foundations (grants) |
- | 318 | 318 | - |
| Corporate | 436 | 66 | 502 | 834 |
| Health Authorities and boards |
- | 547 | 547 | 463 |
| Rental income | 22 | - | 22 | - |
| Other | 25 | (18) | 7 | 9 |
| Total | 1,593 | 3,558 | 5,151 | 5,455 |
Incoming resources from charitable activities for the year prior
| 31 March 2024 |
31 March 2024 |
31 March 2024 | |
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| £’000 | £’000 | £’000 | |
| Donations | - | 15 | 15 |
| National Grants including Big Lottery Fund and People's Postcode Lottery |
696 | 883 | 1,579 |
| Government local and central | 19 | 2,535 | 2,554 |
| European funding | 1 | - | 1 |
| Trusts and Foundations(grants) | - | - | - |
| Corporate | 291 | 543 | 834 |
| Health Authorities and boards | - | 463 | 463 |
| Other | 88 | (79) | 9 |
| 1,095 | 4,360 | 5,455 |
During the year the trustees have refined their presentation of note 3 and represented the comparative figures.
30
Notes to financial statements
For the year ended 31 March 2025
4. Total resources expended
| Staff costs (Note 7) |
Other direct costs |
Support costs |
31 March 2025 |
31 March 2024 |
|
|---|---|---|---|---|---|
| £’000 | £’000 | £’000 | £’000 | £’000 | |
| Cost of raisingfunds | 329 | 7 | 3 | 339 | 299 |
| Charitable activities (unrestricted) |
1,189 | 71 | 378 | 1,638 | 1,500 |
| Unrestricted expenditure |
1,518 | 78 | 381 | 1,977 | 1,799 |
| Charitable activities (restricted) |
2,771 | 697 | 370 | 3,838 | 4,786 |
| Total resources expended |
4,289 | 775 | 751 | 5,815 | 6,585 |
Charitable activities include:
-
1) Core Activities (28%)
-
2) Project Delivery (66%)
-
3) Fundraising and Influencing Work (6%)
-
Staff costs and other direct costs are a mixture of restricted and unrestricted costs.
-
Restricted costs are made up of delivery projects cost. Unrestricted costs are made up of central staff costs and unrestricted project costs. The total governance cost includes a proportion of support costs.
-
Support costs comprise of operational costs, IT and other administrative costs.
Fundraising and influencing is the cost of raising income and promoting our work through policy and public affairs.
Total resources expended for the prior year
| Staff costs (Note 7) |
Other direct costs |
Support costs |
31 March 2024 | |
|---|---|---|---|---|
| £’000 | £’000 | £’000 | £’000 | |
| Cost of raisingfunds | 270 | 5 | 24 | 299 |
| Charitable activities – investing in volunteering |
497 | 736 | 267 | 1,500 |
| 767 | 741 | 291 | 1,799 | |
| Charitable activities | 3,483 | 293 | 1,010 | 4,786 |
| Total resources expended |
4,250 | 1,034 | 1,301 | 6,585 |
31
Notes to financial statements
For the year ended 31 March 2025
5. Grants paid – included in note 4 direct costs
| 5. Grants paid – included in note 4 direct costs | ||
|---|---|---|
| Total | Total | |
| 31 March 2025 | 31 March 2024 | |
| £’000 | £’000 | |
| Action Earth Community based projects paid to organisations |
33 | 30 |
| Grants paid to organisations during this year were paid as follows: |
No. | No. |
| Number of project grants less than £2,000 | 141 | 163 |
6. Net income / (expenditure) for the year
| 6. Net income / (expenditure) for the year | ||
|---|---|---|
| This is stated after charging: | 31 March 2025 | 31 March 2024 |
| £’000 | £’000 | |
| Depreciation | 68 | 121 |
| Auditors’remuneration (see below): | 46 | 35 |
| Operating lease rentals: Property | 45 | 102 |
| Audit’s remuneration (excluding VAT) | ||
| External audit (current year) | 45 | 34 |
| Non audit services | 1 | 1 |
| 46 | 35 | |
7. Staff number and costs
| 7. Staff number and costs | ||
|---|---|---|
| 31 March 2025 | 31 March 2024 | |
| £’000 | £’000 | |
| Wages and salaries | 3,837 | 3,976 |
| Social security costs | 349 | 167 |
| Defined contribution pension scheme costs | 103 | 107 |
| 4,289 | 4,250 | |
| 2025 | 2024 | |
| Number of staff earning more than £60,000 in the accounting year: |
||
| Number of employees receiving £90,001-£100,000 | 1 | 1 |
| Number of employees receiving £70,001-£80,000 | 1 | 1 |
| Number of employees receiving £60,000-£70,000 | 1 | 1 |
| 3 | 3 |
The total earnings including pensions of the charity's key management personnel was £362,133 (2024: £245,992). The charity's key management personnel consist of the CEO, COO, Director of Partnerships and Business Development, Head of Finance and Head of Volunteering and Engagement.
32
Notes to financial statements
For the year ended 31 March 2025
The average number of employees, expressed as head count and as full-time equivalents, during the period was:
| Head | count | Full time equivalents | Full time equivalents | |
|---|---|---|---|---|
| 31 March 2025 | 31 March 2024 | 31 March 2025 | 31 March 2024 | |
| No. | No. | No. | No. | |
| Charitable activities |
130 | 140 | 87 | 126 |
| Fundraising | 11 | 14 | 11 | 14 |
| Governance | 1 | 1 | 1 | 1 |
| 142 | 155 | 99 | 141 |
8. Tangible fixed assets
| Long leasehold properties |
Plant and equipment |
Motor vehicles |
31 March 2025 |
|
|---|---|---|---|---|
| £’000 | £’000 | £’000 | £’000 | |
| At 1 April 2024 | 2,120 | 436 | 108 | 2,663 |
| Additions | 14 | 14 | ||
| Disposals | - | - | (108) | (107) |
| At 31 March 2025 | 2,120 | 450 | - | 2,570 |
| Depreciation | ||||
| At 1 April 2024 | - | 360 | 85 | 445 |
| Charge for the period | 42 | 26 | - | 68 |
| Disposals | - | - | (85) | (84) |
| At 31 March 2025 | 42 | 386 | - | 429 |
| Net book value | ||||
| At 31 March 2025 | 2,078 | 63 | - | 2,141 |
| At31 March 2024 | 2,120 | 76 | 23 | 2,219 |
The Levy Centre had an independent property valuation carried out June 2024, conducted by a valuer appointed by our bank.
The property was valued at £2.1m therefore the fixed assets have been adjusted to carry this valuation with the gain being carried directly to the designated fund.
The Trustees are of the opinion that this is the appropriate carrying value as at 31 March 2025.
9. Investments
There were no investments during the period ended 31 March 2025
10. Debtors
| 10. Debtors | ||
|---|---|---|
| 31 March 2025 | 31 March 2024 | |
| £’000 | £’000 | |
| Trade debtors | 167 | 227 |
| Accrued income | 179 | 355 |
| Prepayments | 70 | 64 |
| Staff floats | 2 | 2 |
| Corporation tax provision | - | 1 |
| VW disbursements | - | 3 |
| 418 | 652 |
33
Notes to financial statements
For the year ended 31 March 2025
11. Creditors: Amounts falling due within one year
| 11. Creditors: Amounts falling due within one year | ||
|---|---|---|
| 31 March 2025 | 31 March 2024 | |
| £’000 | £’000 | |
| Bank overdraft | 149 | - |
| Trade creditors | 213 | 268 |
| Social securityand other taxes | 127 | 94 |
| Accruals and other creditors | 69 | 153 |
| Deferred income(see below) | 639 | 898 |
| Pension | 24 | 24 |
| VAT Liability | 21 | 25 |
| 1,242 | 1,462 |
The bank overdraft is secured against the property of the company and a debenture. The company has an overdraft limit with Barclays Bank PLC of £500,000.
| Deferred income | 31 March 2025 | 31 March 2024 |
|---|---|---|
| Balance b/f | 898 | 1,081 |
| Amount released to incoming resources | (898) | (1,081) |
| Amount deferred in the period | 639 | 898 |
| Balance c/f | 639 | 898 |
Many of the charity's projects receive income in advance for periods which span financial year ends therefore requiring deferrals of income
34
Notes to financial statements
For the year ended 31 March 2025
12. Statement of funds
| 31 March 2024 Brought forward |
Incoming resources |
Resources expended |
Transfers | Gains / (losses) |
31 March 2025 Carried Forward |
|
|---|---|---|---|---|---|---|
| Summary of funds: |
£’000 | £’000 | £’000 | £’000 | £’000 | £’000 |
| Unrestricted funds: |
||||||
| Designated funds |
2,219 | - | - | - | 2,219 | |
| General fund | (782) | 1,682 | (1,802) | - | (902) | |
| Total unrestricted fund |
1,437 | 1,682 | (1,802) | - | 1,317 | |
| Restricted funds |
- | 4,013 | (4,013) | - | - | |
| Total funds | 1,437 | 5,695 | (5,815) | - | 1,317 |
Statement for funds for prior year
| 31 March 2023 Brought forward |
Incoming resources |
Resources expended |
Transfers | Gains / (losses) |
31 March 2024 Carried Forward |
|
|---|---|---|---|---|---|---|
| Summary of funds: |
£’000 | £’000 | £’000 | £’000 | £’000 | £’000 |
| Unrestricted funds: |
||||||
| Designated funds |
1,324 | 14 | (121) | (48) | 1,050 | 2,219 |
| General fund | (452) | 1,300 | (1,678) | 48 | - | (782) |
| Total unrestricted fund before pension deficit |
872 | 1,314 | (1,799) | - | 1,050 | 1437 |
| Restricted funds |
121 | 4,665 | (4,738) | - | (48) | - |
| Total funds | 993 | 5,979 | (6,537) | - | 1,002 | 1,437 |
Unrestricted designated and general expenditure relates mainly to non-project costs.
Company restricted funds represent balance in respect of many on-going projects where funds have been applied, having been restricted in terms of the funding agreements.
35
Notes to financial statements
For the year ended 31 March 2025
Significant restricted funds received and incurred in the year included:
Grandmentors Control Account (£98,600), Grandmentors Lewisham (£60,000) and Grandmentors Suffolk (£66,642): Grandmentors recruits and supports volunteers aged 50+ to share their skills and experience to mentor young people leaving the care system. These young people often need a guiding hand to support them to build independence and life skills such as finding work, continuing their education or begin training.
Team London Ambassadors (£380,624): Young people with special educational needs or who have been excluded from mainstream education from across London helping others and influencing social changes by delivering social action projects in the communities they live in across the Capital.
#iWill project (£370,033): #iWill is a movement that empowers 10–25-year-old to make a positive difference on the issues that affect their lives, communities and society.
NCS Targeted (£94,507): Young people in secondary schools across Suffolk programme which culminates in young people leading social action activities which influence social change and benefits the local community.
Get The Gen (£109,913): Training and development service that provides employers with the knowledge, understanding and support to recruit and support more young people into the workforce.
VsF Greenwich, Family Mentors (£83,000), VsF Southend, Family Mentors (£85,810) and Family Supporters Edinburgh (£100,078): Volunteers Supporting Families (VsF) provides 1:1 support for families referred to Volunteering Matters via Local Authorities. The Families supported are either ‘in crisis’ and are being closely supervised by the local authority or they
have been identified as being ‘in need’ and may need short term support to help them through a challenging period. The support is provided by trained volunteers, who are supported by Volunteering Matters staff members.
Match and Mentor (£171,521): Volunteers support adults with learning difficulties to live independent lives, support is provided 1:1 and via group sessions.
Newcastle Volunteer Development
(£76,494): Volunteering Matters manages the Volunteer Centre in Newcastle, this involves signposting members of the community in Newcastle with 200 plus volunteering opportunities across the City. VM has also developed a Volunteer Passport scheme, which recruits and trains volunteers to volunteer in a range of social care charities across the city.
Home from Hospital (£120,000): Home from Hospital provides services for patients aged 55 and over who have been discharged from hospital, helping them to get back home safely and stay home gaining their independence. Other support can range from collection of prescription medication to taking the bins out.
Volunteering Works programmes
(£522,283): Volunteering Works provides a service to 30 plus corporate clients providing community voluntary opportunities for their workforce, this service is provided via team days and ongoing regular opportunities. ProjectScotland Edinburgh (£70,726): Providing mentoring and job coach support to working age adults in Edinburgh who have been unemployed for a long time.
Castlebrae (£81,893): Supporting young people aged 13 -16 in high school, who have started to disengage from school and face numerous barriers to achieving their goals. VM provides young people with a wrap-around support package, which involves a tailored and supportive volunteering placements and the
36
Notes to financial statements
For the year ended 31 March 2025
opportunity to be matched to a mentor for up to 12 months.
Youth VIP (£131,600): Building capacity and knowledge for charities across Scotland to offer volunteering opportunities to young people, this is achieved through lobbying national government, 1:1 Support for charity leaders and a variety of training and development opportunities.
MK Volunteer Driver Service (£120,679): Volunteer drivers taking isolated older
people to medical appointments, this includes local GP appointments and longdistance hospital appoints. The service also involves volunteer drivers taking children and young people to family contact appointments.
Lifelines (£113,749): Volunteers aged 50 plus organise group activities for older people living in sheltered housing schemes to enjoy, examples include creative writing, seated exercise classes and bingo.
13 Analysis of net assets between funds
| Restricted funds | Unrestricted funds | Total funds | |
|---|---|---|---|
| 2025 | 2025 | 2025 | |
| £’000 | £’000 | £’000 | |
| Tangible fixed assets | - | 2,141 | 2,141 |
| Net current assets | - | (824) | (824) |
| Provisions, long-term liabilities and pension liabilities |
- | - | - |
| Net assets at theperiod end | - | 1,317 | 1,317 |
Analysis of net assets between funds for prior year
| Restricted funds | Unrestricted funds | Total funds | |
|---|---|---|---|
| 2024 | 2024 | 2024 | |
| £’000 | £’000 | £’000 | |
| Tangible fixed assets | - | 2,219 | 2,219 |
| Net current assets | - | (782) | (782) |
| Provisions, long-term liabilities and pension liabilities |
- | - | - |
| Net assets at the period end | - | 1,437 | 1,437 |
37
Notes to financial statements
For the year ended 31 March 2025
14. Operating lease commitments
The charity's future minimum operating leases payments are as follows:
| 2025 | 2024 | |
|---|---|---|
| Land and buildings | Land and buildings | |
| £’000 | £’000 | |
| Not later than one year | 21 | 21 |
| Later than one year but not later than five years |
7 | 6 |
| 28 | 27 |
15. Related parties
The Trustees received no emoluments in the period (2024: £nil).
During the period no Council members (2024:£nil) received reimbursement for travel & subsistence expenses (2024: £nil).
No remuneration nor payment for services was paid to any member of the Council (2024:£nil).
16. Related party transactions
Total aggregate unrestricted donation of £10,000 was received from one Trustee on 18 April 2024
38
Notes to financial statements
For the year ended 31 March 2025
17. Statement of financial activities for the period ended 31 March 2024
| Unrestricted funds |
Restricted funds |
Total to 31 March 2024 |
|
|---|---|---|---|
| £’000 | £’000 | £’000 | |
| Income and endowments from: | |||
| Donations and legacies | 219 | 305 | 524 |
| Charitable activities | 1,095 | 4,360 | 5,455 |
| Propertyincome | - | - | - |
| Other income | - | - | - |
| Total income | 1,314 | 4,665 | 5,979 |
| Expenditure on: | |||
| Raisingfunds | 299 | - | 299 |
| Charitable activities | 1,500 | 4,786 | 6,286 |
| Exceptional item – effect of pension settlement |
- | - | - |
| Total expenditure | 1,799 | 4,786 | 6,585 |
| Net income/ (expenditure) for the year | (485) | (121) | (606) |
| Other recognised gains/ (losses): | |||
| Gain onpropertyrevaluation | 1,050 | - | 1,050 |
| Net movement in funds | 565 | (121) | 444 |
| Reconciliation of funds: | |||
| Total funds (Deficits) brought forward |
872 | 121 | 993 |
| Total funds / (Deficits) carried forward |
1,437 | - | 1,437 |
18. Post balance sheet events
There are no post balance sheet events.
39