Company No. 01913555 Charty No. 291890 Voluntary Action Islington Limited (A company limited by guarantee) Annual Report & Financial Statements 31 March 2023 Voluntary Actlon l$llngton Llmlt•d Tru8tts8' Annual Roport For the year ended 31 M8r¢h 2023 REFERENCE AND ADMINISTRATIVE INFORMATION Registered charity name Voluntary Action Islinglon Limited Charfty raglstratlon number 291890 Company reglstratlon number 01913555 Reglstered Offke 200a Pentonwlle Road London Nl 9JP Board of Truslo The Iruslees served the charity during the period and up to the dale of this report were as follows= Colin Adams MBE Emma Victoria Hutchins (Vice Chair) Hussain Ahm Joseph David Irvin OBE ICh8ir) Josephine Mary Langdale (Vice Chair- resigned 01.11. 20221 Jorge Llorens ITreasurerl Ken Hettiarachi Kevin Turner (Joined 07.02.23) Madeleine GasGoigne (Joined 07.02.231 Philip John Kelly Santa G8scoigne Chlef Executlve Officer and Company S•cr•tary Navinder Kaur IrKIe￿ndont Examlners Goldwns Charter8d Accountants 75 Maygrove Road West Hampstead London NW6 2EG Bankers Unity Trust Bank plG 9 Brindley PSace Bimingham B12H8 Voluntsry Action Islington Limlt•d Trusteos. Annual Report For the year ended 31 March 2023 The trustees, who are also the dlrectors for Ihe purpjse of company law, hav8 pl8asuTr in presenting their report and the financial ststements for the charrf(y for the year ended 315t March 2023. The trustees confim that the financial slatemenls comply with current statutory requir8menls. the memorandum and articles of association and the Statement of Recommended Practice- Accounts'ng and Reporting by Charities: SORP applicable to charities preparing their account5 in ac¢ord8nce wth FRS 102. Purposé and Alms Our chariiy's purpose as set Qui in the objects ¢ontained in Ihe Mernorandum of Association To promote any charitsble purpose primarity but not exclusively for the benefit of the community in the London Borough of Islinglon, hereinafter called 'the a￿a of benefif and in particular the advancement of education. the furtheran￿ of health and the rellef of povety, distress and $￿knesS To promote and grganise cooperation in achievement of Ihe above purposes and to that end to bring tog&th8r repr8S8ntatives of nol-for-profil organisalions and statutory authorities engaged in the furtherance of the above purposes within the 8rea of benefit b} In the pa51 year the Staff and trustees reviewed VAI'$ mi$$KJn. vision. values and aim$ and this annual report reflects these $trale9i¢ changes. Our Vlslon A thriving voluntary and communty sector in IslinOon'. enriching people's lives and buikjing stronger communities. Our Mlsslon To strengthen our local voluntary and community sactor's ability to deliver services effectively and to promote social justi￿. Our Valugs Effecti￿.. cr68tive, onergetiG 8ndr8sponsive Collaborative." building partnersthps and co-d8signing solutions Inclusive.. valuing the importanca old1ver￿tY and equglily Posltlv•.' building on sfrengths, not just focusing on problems Wlth Intogiity." honest, pmf8ssMal and respedfvl Our Strategic Aims To support the d•v8lopment, •ffoctlv8n•ss and sustalnablllty of Islinglon's Voluntary, Community. Fath and Social Enterprise Sector IVCFSE} To empower Islinglon's diverse ￿MMunItieS To enable volunteering To facilitsle a stronger VCFSE voic• lo infiuence local pglicy. decision-making and system change. To facilitate stronger p•rtnorshlp working across Ihe VCFSE sector We 8re an 8ccrediled Liwng Wage Employer and aim to be an equal opportunities employer. Public Benofit During the year the Iruslees have considered section 17 of the ch8rib.es Act 2011 and Charity Voluntary Action lslington Limit•d Trustg0s' Annuol Report Foi the year ended 31 March 2023 Commission guidance on public bon8fL We have sought lo ensure that the charlty Is fulfilling its charilable purpose to benefit the public by focussing on some of the most pressing social issues in the b(xough. including Inequality, Povety, Community Safety and Health. Our strategic aims indude enabling the VCFSE to address these issues. by supporting (xganisations to= Be rnore sustainably funded and resOU￿¢d Deliver more effective services Be more able lo influence local policy In addthon. we want to support the people who voluntegr for VCFSE organisalion$ by ensuring= Volunteers gain more social contacts, employdbility expellence and skills. and improved health and wdlbelng Through the development of our Theory of Change for Voluntary Action Islington. we were able to map out the changes that we want to achieve for the sector, and Ihe steps that we wll tske lo achieve this change. These speryfic activibes have been briefly described below, as they relate to each aim. STRATEGIC AIM 1: TO SUPPORT THE DEVELOPMENT, EFFECTIVENESS AND SUSTAINABIUTY OF ISLINGTON'S VCFSE la. Advice. Infomiation and Support During this period, we re￿iVed 240 requests for support and athn'ce fr¢>n local groups and residents, and responded lo these requests via emails, phone calls, 8n¢J mainly through in- person and online meetings. We held over 130 one-to-one advice sessions with over 80 different groups. We also provided some groups wlh support over a longer period. We wcrfked a broad range of groups, with most working in the area of Health and Wellbeing. Children & Young People and other groups who worked with the whole community- Most of the groups that received support are BAME leil. We also prowded suppK)rt lo a number of women's groups who mainly focus on health and weN-being issues. This year Ihe lop 4 most requ8Stad araas of support proved similar to last year, however this year many more120+1 wanted lo register as 8 charity with several of Ihem achieving charity status thus enabling them to approach a broadw range of fuThJers. The lop area$ of support requested.. Funding and fundraising Registering as a charity or company limited by guarantee General organisational dovelopmenl Iplannirs, govemance, flnanclal managem￿rt) starling-up an organisalion Evaluation In general groups who attended the advice sessions felt that they gslned pract1c818d￿¢e, skills, knowledge. and infom)ation that would help them to set up and run their organisalions more effectively. Some groups also said that the sessions generated ideas that they wouldn have thought of. One group reported that the session gave them confidence to sel up their Community Interest Company on their own. Volunlary Action Islington Limit•d Trustoes. Annuol Roport For the yew ended 31 March 2023 1b. Natlonal Loltery l-t￿1 Suryerlos Our work with the National Lottery Community FurKI {TNLCFI is a partnership which enable5 bcal community groups to have 1-trp1 sessions wlh the local Lottery Officer. We have done more oulreaeh this year. wlh sessions taking place in community centres such as Elizabeth House and 8rKky￿rkS - in order lo reach out lo local groups and make the seswons more acLessible. The sessions were held evary 2 months and thè Lottéry Officer advised groups on how best lo apply for Lottery funding. This year we held 5 sessions. in sthich 19 groups receive(J advice on their funding applications. In total 13 gro￿$ applied for funding, 4 were successful wilh Awards for All funding. totalling approximately £40,000, and 2 organi$alions are being assessed for the Reaching Communities programme. Evaluation feedba¢* from Ihese sessions shows that most of Ihe groups fett that they had gained better kno￿edge about Nthal it tskes to wite a good Lottery applic81ion and what the process Involved. 1¢. Fundlng Booklet and Fundlng Updates This year we produced kn funding booklets (July 2022 and February 2023} each having more Ihat 20 new entries and a tolal of at18ast 100 funding programmes in 98ch booklet. The bookjel is promoled on VAI'S news group, ar￿ it is placed on our website in both word and PDF formats. We also collated and disseminated over 35 funding updates through the year. with at leasl per month. 1d. Moet tho Fundor Evont VAI also works wih local funders. and on 9 November 2022 we held an event for the Cloudesley'5 Health programme. This fund supports Islinglon residents vkno have physical or mental health issues and who have k)w levels of income. 35 people attended the session which involved a presentstion 8nd 8 Q&A sfjss￿n. 1¢. Wrltlng Better Fundlng Appllcatlon8 Workshop Thi5 year y￿ tan a training workshop wth 12 group5 attending. This session was for groups who struggled to write good funding applicalions because they are new to fundraising or have very little exporience and have not beon successful with funding applications in the past. The feedback fomis showed that all the groups found the workshop very heipful and infomiative. 1f. Resourco Centre Facllttles Our Resource Centr8 on Penlonville Road continu88 to 98￿rat8 funds to support the development of the local VCFSE and provides a model of co-bcation and efficient use of resources. During the year. ￿ continued lo promde desk and room hire facilities lo charities and community groups. Aclimty increased as groups recovered from the impact of the pandemic. We applied a fiexible approath. wth hot desks'ng being IntrodLKed as a new fe8ture. Voluntsry Adlon l•llngton Llmlt•d Tru•l•g9' Annual RoPOrt For tho y•Ar •nded 31 Ma￿h 2023 The community space F*owded pemanent and hot desking f8cifities lo the follovlng organi$alions working in the equalities and swal justice sectors.. P•rnian•nt & Hot D•*k U••rn Po*al Addm• ACt￿n for Em Homes AclK)n for Ro¢e E ACTSA ALAG AkAsharof Community Welfare Ass￿￿9tiOnl Stynali Wcvnan'$ Grou Betknowmore UK British Inslrtule of Human Ri Ca aci London Chan Communications Cil Year UK First Ste Action Gendered Intelli Headliners UK Health rom Hear Netsvork lon Refu ee and MI Lakwer8 Se￿¢08 rant Voice Sa hlre Foundation Sa 11 Out Loud Club SERA UnlvefS81 Ease to Redre8S rs CIC Christian Muslim Forum Communil T¢)ol Bankj Thin Eritrean Youlh Club Metrobox London PerIC￿mIng Prod￿11¢ ARE s in Common hts en¢e rant Ne￿k During the year. provided trainirvJ. Conferen￿ and meeling room f8cllMlgs to charitles and cw)mvNties groups and did so on 250 occaS￿s. STRATEGIC AIM 2: TO EMPOWER ISUNGTON'S DIVERSE COMMUNrriES 2•. Local Wellbelng N•tworf( M•rtlngs and Ev•nts The deVe￿pment of the Local Wellbeing Networks ILWNS) contin￿1 to be a m4or prforfty over the year. We strengthened our partnership Ihe Octopus Community Neh¥ork 8tNI continued to develop Ihe mechanisms for promoting community voice. connectirwj the VCFSE, public sector and residents and using this partnership to ¢￿delIVer servKes. Monthly Local W8llbelng NeMDrk meeongs in communty seltings locat￿ In th• NcKth. Centr81 and Soulh localities look place in July 179 regislralionsl. September. {74 regislralts)nsl, Oclober (35 regislr8tionsl and November {36 wistration81. On the 2 FebNary 23, we held 8 lolnt event- wlth 8113 localilies coming together 81 Hfj￿bLry Roundhouse Communlty Cenlre. 2b. Communlty Organlslng In partnership with OGtQPUs Community Network. teamed up with Community Organlsers. a n8tion81 ag8ncy. who went on lo delwer a series of Intrc*JuctK)n to Communty Organising. tralnry lo empo4￿r re$ident voice and engage kKalised c￿m￿nN193.. Voluntsry A¢tlon l$llngton Limlt•d Trustees, Annual Report For thg yoar ondod 31 MarGh 2023 North Locality- 26 April & 10 May136 registrat10115 for each) Central Locality- 28 April & 11 May133 regislralions for ￿h) South Locality- 5 May & 12 May {34 registrations for each) 2c. Network Dev•lopmant We a150 teamed up with the Social Change Agerty lo deliver Ne￿rk Development Ir8ining. with 9 out of 10 'Change Makers. goiNJ through the intensive Network buildi[￿ canvas. 2d. Dlsabled People's Access to L81's Employment Support 0￿r In partnership with Healthwatch Islinglon, we carried out ￿searCh lo better understand the barriers in accessing Islinglon Council'5 employment SUPPOrt offer. This piece of YK)rk was funded by the Islinglon Integrated Care Board, and we interviewed 25 disabled people as part of this projecl. We also engaged local VCFSE organisations working closely the target group to help identify the gaps in the support offer and what more can be done to 8naJle better access. 2e. Access to Islington's Employment Support Offer In addition to the above research. we held a session on the 10 November in partnership wth Islington Council and Healthwatch to raise awareness of the Council's employment service. 29 organisations registered for the even STRATEGIC AIM 3: ENABLE VOLUNTEERING 3a. Volunteer of the Year Awards 2022 We hosted the first in person Islington Volunteer of the Year Awards celebra￿on slice the Covid-19 outtffeak in November 2022 at London Metropolitan University. That helped us to create a more positive environment in which lh8 value of volunteering was recognised the biggest number of attendees ever. Our Volunteer of the Year Awards were again sponsored by Doubletree by Hilton Islington. who provSded the prlzes, and we had Ioc81 medi8 cover8ge. ralsing the profile of volunteering locally. The awards were 8nnounced by the Mayor of Islington. Cllr Marian Sp811. The ￿nerS were.. Older VolLJnteer of the Year 60+.. Mdly Mcconville, nominated by th8 Sunday Club at Sl John's ch￿￿h volunteeri￿ Team of the Year. Islinglon Bereavement Support Volunteers Volunteer of the Year 26-60- David Batchelor, nominated by Help on Your Ck)orstep Pal Hayn8s M8mDrial Trustee of th& Y8ar'. Guilene Marco. nominated by Middle Eastern Women and Society Organisalion {MEWSo} Young Volunteer of the Year 16-25.. Edward Campbell, Soapbox Youih Cgntrg 3b. Volunteering Fairs and Outroach VAI increased the number of volunleerlng fairs, hosllng 4 f85rs (Aprfl, June & September 2022 and February 20231 in partnership with Volunteer Centre Camden, to support the rgcruitmenl of volunteers, both online and in person. We also increased our outreach in public places like community centres. colleges. universities and Islington Ilbraries to enable and raise awareness of volunteering in the broader CC4nmunlty. Voluntary Actlon Islliwon Llmlted Tntstees. Annual Report For the year gndod 31 Ilarch 2023 3c. Development of New Partnershlps to Promote Volunteerlng We have slarte¢J a couple of new projects working in partnership with HeathProm and Union Chapel to support Ukrainian families and asylum seekers living in bridging hotels in Islinglon lo improve their weffare and engagement wth the local commLmity whilst volunteering with VSCFE organisations in the borough. We contlnued to work in pathershlp vllh the Peabody Trust to enha￿e the exisllng sthce and create new volunteering opportunitie5 among Peabody Trust and south Islington residents, to improve their wellbeing and employability ski115, and aid community cohesion. As part of our Ccqnmurbily Research project on Disabled People's Actsss to LBI'S EmpkJyTnent Support Offer. we asked local volunteers ab¢)ut their awareness of the help ond advice that Islington CourKil can offer lo those who are looking for work. 3d. Our Reach Although the number of volunteers declined in other parts of London, we had 351 new volunteers registered with the Volunteer Centre - almost reaching pre-pandemic numbers - and bringing a totsl of 4,122 local residents registered as volunteers. 56 new VCFSE groupslorganisaliws registered with our Volunteer Centre, bringing the total of organisalions registered to 489. wth 262 volunteer ro18s promoted. STRATEGIC AIM 4: TO FACILITATE A STRONGER VCFSE VOICE TO INFLUCENCE LOCAL POLICY, DECISI0￿MAKING AND SYSTEM CHANGE 4a. Young Islington Inclusion Project From May 2022 onwards. VAI worked with Islinglon Council lo support Ihe development of the three Young Isllngton Localty Networks and the New Youth Offer as part tsf the 'Fairer Togetherf lslinglon initiative. VAI engaged small groups and grassroot organisalions Ilhose wilh a lurnov8r of up lo £500k per annum) working with young people {aged 11 - 25 years of a9el that are under-represented andlor not engaged with the Islinglon Youth WO￿ Offer focus5ing on those from the Bangladeshi. Kurdish. Somali and Turkish communili85. This Was a new area of work, in which VAI engaged small groups and grassroot OTganisalions to explore their barriers to engaging wth the Young Islington Locality Nets￿rkS IYILNS) and support their sleppir¥J into more visible inffluential roles within the YILNS. By doing this il was envisaged that thi$ would result in the dgvelopment of an enriched universal youth work offer that shaped by the YILNS growing diverse and inclusive membership. Addilionally, VAI worked lo establish standards for engagement of these underrepre5entedlmarginalised groups in the YILNS and wider youth provision and. parthership working. 88tween 13 June 2022 and 25 January 2023, VAI'S Young Islington Devek)pmenl Officer met th 84 youth providerslsmall community groups. 42 in person and 42 remotely. Of these 39 were groupslindividuals working wth young people from the Bangladeshi. Kurdish. Somali andlor Turkish communities. Young Islington Locality Event- 26 January 2023 Based on feedback VAI obtsined from the listening sessions held with th8 small community groups working with young people it emerged that the groups wanted to come together to share their experiences, n&twork, meet local funder5 and hear more about the new Youth Work Offer. On 26 January 2023 the Young Islington Locality Event wa8 heki at VAI'S Resource Cenlre. The main aims of the event wer6 al to prowde the opportunity foT small comrnunity groups working Imth young people Iparti¢ularly from the aforementioned under-represenled communthes) and representslives Irom the YILNS lo come logglher. share infomiation and Voluntary Action Islington Limit•d Trust89s' Annual Roport For the year ond•d 31 March 2023 build brKlges. The intention belng for ihis event to start the process of an ￿gOIng dlalogue befv￿n these groups and for local funders lo share their insights and encourage groups to SLJbmil funding awlications. Addits'onally. the event promded the opportunity to directy gather the participant's Views and opinions on.. The things they are doing with their young people that work well What their young people would like to do more of and How they would like lo develop their relationship wth established youth providers lo benefst their young people 62 dglegates from 41 organisations attended. Over the duration of th8 project, the Young Islinglon Development Off￿er reached out to 125 organisations. 89 of these organisalions were active and, he worked more closely with 13 Pilot Group organSs8tions working exclusively or mosuy with target groups. Of these Pilot Groups Galbur Foundat￿, MEWSO, Minority Matters, Turkish Kurdish Children's Group and the Somali Women's Speakers Group were supported to work closely with and develop positive relationships with the YILNs1nefv￿rk members. Also. Galbur FoundatKJn. M8SjKI e Yusuf Mosque. MEWSO and, Turkish Kurdish Group attended Young Isli￿lOn Locality meelings, and Eritrean Communlty In UK and the Musllm We￿are House havelare interested in attending YILNS meetings. 4b. London Youth- Centre for Youth Impact Research & Analysis- March 2023 The above-menlioned pilot groups were invited to engage ￿thI101n London Youth to share Ihe ways they meet their young people's needs and engage and provide them wlh high-quality and impactful s8rvices. London Youth were ke8n to hgaf about whal their youro people's ngeds are. The sessions look pl&e online on Tuesday 21 and 22 March. London Youth and Partnership for Young London used this irrfomiation to inform the work they did with young people and youth praclilioners to prtxluce a resource on how to best support minorilised groups. 4c. Communty Conversations We ¢onts'nued to host Community Conversations, helping t¢ sel the agenda and co4h8iring the series ￿th Public Health Isllngton on the 28 April and 29 November 2022. 4d. Health and Wellb•lng Networf( Vvith a view to ensuring in¢lusiwty and widening participation around the Iheme of health and the LWN. in February 2022 w8 cr8ated Ihe borough-wid8 Haatth and W8llb8ing Ne￿ork, as a direct response to the pandemic, but also around the gmwing need for clear communications around health. both physic818nd mentsl throughout Isllngton. We held a series of Health and Wellbeing Network meetings on the following dates: 28 April124 regislrationsl 26 May (21 registrations) 21 July126 registrat￿n$} 29 September (34 registrations) 20 October127 re9iStrationsl 4e. VAI'S Advisory Group Our CEO assembled an Advisory Group made up of the following ￿ganisationS and nefvKJrks in th8 borough and fa¢ilitatsd monthly meetings and workshops.. Age UK, Brickvlorks Community Cent￿. CoFtnh8gen Youth Project, Cripplegate, H8811hwalch Islinglon, Islinglon Voluntary Action1s1ingtoTr Lirnit•d Trustoes. Annual Report For the y•w •nd•d 31 March 2023 CAB. Islington Faith5 Forum, Isllngton Mlnd, Isllngton Refugee and Mlgr8nl Forum, Octopus CommLJnity Nets￿rk, Si Lukes Community Cenlre, Sluart Low Twst, and Talk for He811h. 4f. Isllngton Comp•ct One of the significant areas of wcyk th8t the Advisory Group started working on was the refresh of the Islington Compact- Ihe partnership agreement betsveen Islington Council and the VCFSE sector. 49. Loul R￿T¢s¢nt8t￿oTh Our CEO rep￿sented the VCFSE at the folbwing LBI partnership boards= Islington Integrated Care Board {ICBI Inequality Task Force Let's T81k Islington Fairer Together Islinglon Together Cost of LlvSng Summlt Emergency Planning- Corpoote Contlngency Exerclse I￿ingtOn Together Leaéers Group Fairer Together Partnerships Board Community Portnership Board Winterwellness Partners Group 4h. North Central London INCL) Ropresentatfon Our CEO represented lslington's VCFSE * the following NCL partnership boar(Is.' VCFSE Alliancg which Includes CVSS and servlce provlders from Bamel, Camden, Enfield, Haringey NCL Integrated Care Board- Strategy and Development Committee STRATEGIC AIM 5: TO FACILITATE STrONGER PARTNERSHIP WORKING ACROSS THE VCFSE 5a. Annual VCFSE Corrf•rence- 18 May 2022 VAI held its annual conference at the London Metropolitan University. The discussKJns highlighted the followng main challenges for the sector: Increasing poverty and health inequalrty amongst Isllngton's communlttes resumng from the pandemic and the cost-of-living crisis Lack of ￿nectivity and joint working belAveen the VCFSE and bethen the sepAors %thich has an impact on meeting the growing needs of our communities Lack of infrastructure and workforce development to support the VCS lo wcrfk tc#Jether m￿8 effedively and with the stslulory sector Lack of access to slalutory funding, and complex prwurem8nl prwesses Sumrnary of key actions needed.. Build on the successes of the COVID-19 pandemic lo address the cost-of-liwng crisis. and health inequality amongst Islinglon's communrties Celebrate VCFSE successes and demonstrats its added value, quality and impact. More resources and investment required to do this and needs to include volunteering Share more information on how we V￿rk and have the infrastructure to enable sharing online and through forums and netsvorks VCFSE should be recognised as a key stratsgic partner that should be involved in every conversation - and be a vehicle for influence and positive Social change. Where Voluntary Action 151ington Limited Trustoas, Annual Report For Iho yoar ondod 31 March 2023 challengeslissues have been identified by statutory agencies. they need to approach the VCFSE for solutions and vice versa Build stronger links ￿On9St ststutory bodies. statutory prowsion, funders and community and residents whether by having events where COTnmi55ioners and benefici8ries can have a dialogue or having 5talulory service5 coming to the community and residents lo raise awareness of current sermces andlor changes in services Address our capacity issues with more resources invested in premises. building capacity and organis8tional d8v81opm8nt as ￿11 as back-offiee support, peer support and mentoring, leadership, and succession planning Build a greater level of collaboration and conneclivity amongst the VCFSE to enable the sharing of leaming and skills as well as providing opportunities for joint funding Build stronger links with statutory sector to demonstrate the diversity of the VCFSE and the value of this (liversity bul one that h8s a shared identity Develop a Code of Conduct between sectors (i.e. COMPACT) 5b. Gra55r¢)ots and Small Organisation5 Summits- 12 July & 29 S•pt•mber 2022 We received extensive feedback from groups in the lollowng areas= Stronger voice Volunteering Communication5 and demonstrating impact Organisalional development and funding and resources We will input this feedback into the development and implementation of our new 2024-27 strategy as well as the VCFSE strategy and Imp￿mentstltsft plan which we will create in partnership with Islinglon Council. Sc. Supportin9 Ukrainian Families Wo secured funding from NAVCA lo start supporbng organisalions which wer¢ preparing for the arrival of people from Ukraine and subsequont support for Ihem as well as better ordination ol aclmties ￿thIn the VCFSE 8niJ Islinglon Council and to build ¢apacity ￿&r8 it is needed. We teamed up with Heallhprom were commissioned by Islington Council lo provide direct support lo Ukranian families arriwng in Islington of which there were 270 mostly women arml children as part of the Homes for Ukraine Scheme. Our partnership started in March 2023. with the bulk of the activity taking plxe from April 2023 onwards. Sd. Othor Partnershlps As we have outlined in pr8vious sections, we soughl lo foster stroro8r parln8rships and cooperation, through.. Supporting Local Wellbeing Netr￿rks, in partnership with Octopus Community Netsvork Creating VAI'S Ad￿Sory Group of 13 voluntary and communty groups and borough-wide networks Delivering Volunteering F8iTS in partnership with Voluntsry Action Camden Supporting the borough-wde Health and Wellbeing Ne￿I)rk Supporting the development of three Young Islington Locality networks and bringing organisations together at the Young Islington Locality Event Convening our annual VCFSE Confe￿nCe and kno Grassroots Summits Representing the VCFSE on several LBI partnership boards Rèpresenting the local VCFSE on the NHS Integrated Care Board for North Centr81 London 8eginning a review of Ihe Compact - th8 overarching partnership agreement betsveen Islington Counal and the VCFSE sector 10 Voluntary Action Islington Llmlted Trustees. Annual Report For th• YO￿ •ndod 31 MarGh 2023 Working wlh Healthwatch Islington to promote health i88ue8 and LBI'S employment support se￿ce 5•. C•l•brating 50 Y•ars of S•rvic• We were proud during the year to cdebrate our 50 years of sefvice to the Islington ommunity. We paid tribute to the founders of VAI and 811 the people who. ocross over five decades. seryed as voluntsers. stsff and trustees,. our member organisalions and everyone in the Borough's voluntsry and communty bodies., as well as our hugely valuable partners In the public sector. charitable trusts and businesses. We hosted a major event at London Melropolilan University to commemorate these 50 years of work al our AGM on 2 November 2022. along wth the Islington Volunteer of the Year Awards. We ￿Ere pleased to welcome Ihe Council Leaijer Cllr Kaya Comer Schwartz. lo￿1 MP Rt Hon Jeremy Corbyn. the Mayor of Islinglon Cllr Marian Sp811, fomer CEOS and several representatives of the local VCFSE to conlrlbute to the occaslon. We published a history of our 50 years {'VAI Celebrating 50 Ye8rs of Service'l. Tha hievements of those fNe decades include: Pioneering wyk to set up new community cenlres and fostering new voluntary organisBtions and tenants associations Negotiating vAlh the Council lo sel a baseline for sl8ff working in the local voluntary sector, including the London Llving Wage and appropriate pay scales Establishing the only accredited volunteer centre for the borough, matching thousands of volunleeT5 Wth opp(Ktunities in local charities and community 9roups Supporbng hundreds of local VCFSE organisalions lo get off the ground and flourish Providing a Comm1￿ v0￿e for the VCFSE in tim85 of need Seth'ng standards for childcare and play areas Suppcrfting greater equality and diversity Fostering the development of BAME, ethnic community and refugee support charities ganising thousands of volunteers to support our community during 1he Covid pandemic, Ir￿lUding delivering food and essential supplies to homes and helping al dcun815on cenlres More infomi81ion about our hislory and the impact we h8ve made over the last 5 decades and continue lo make can be found here.. IIAI b fjfi A'i ii'_.rirl1 Re rt 202112022 OLIR CORE ACTIVITIES Our Core acbvilies. und•tsken in our Capacity a$ a Council for Voluntary Services are detailed below.. We organis8 an annual conference for the local VCFSE sector on Ihemes of p8￿c￿lar relevance for the seclor. This is an opportunty for our members to provKle feedback arnl to infomi future priorities We continue lo provide an email news service through vthich we bring to the attention of members relevant policy and funding initiatives. Members use this service to promot Iheir local activities We have negotiated on arrangement wlh NCVO. providing our membors wih access 10 NCVO membership and services at a discounted ral8 Our website is an important source of information for news relevant to the sector including Ioc81 volunteering opportunities. funding and resources for organisalions. We contlnued lo a(kJ to and update our online dirèctory of local organisations Voluntary Action Islington Limited Trn8tees' Annual Report For th? ygar ended 31 March 2023 We provide charities with desk spaces. afft)rdable meeting and conference rooms ond shared facilities Ihrough our Resourc6 Centre. There are speclal rates on room hire for members We promote wmmunity organisalions and volunlegring to the wider publiG and we achieve local press coverage for the Volunteer of the Yaar Awards. which is held together wilh our Annual General Meeting We continue lo run a(fvice sessions and also run monthly 'surgeries' where people can gel initial advice aboLrt stsrting or developing a local community organisation We are proud to run the only nationally accredited Volunteer Centre for Islington matching people interested in volunteering with local opportunities in the VCFS. We have 8 small team of volunteers involved in this work which provKles a drop-in tsmce woek and promotes volunteering al local community events We provide 8 volunteering database that enables organisations lo post their own volunteer opportunities. while at the same time allowing potential voknnleers lo create their profiles and search for suitable placements MEMBERSHIP AND COMMUNICATIONS Mgmborshlp ser41￿¥ tkjring the ye8r, we grew our membership lo 568 1¢)eal VCFSE organisations. Going forward we wll be reviewin9 our memb¥thip offer and will work on improving our Servi￿ to our memb8rship. Rogular Communi¢atlon$ We circulated funding updates, job alerty and IrKal community everrts via all our messaging platforms.. Soclal Modia VAI and its Volunt8gr Centre have 6,373 followers on Twtter with 3,758 following VAI and 2,615 following the Volunteer Centre. We have increas8(l our Instagr8m followers by 220A to 808 trom the Prev￿￿$ year. Newsgroup The VAI Newsgroup increased from the previous year lo gver 700 loGal groupslcfganisations. This is a plarform wh8r8 the VCFSE shared local n8ws about their servi￿$ in Islington. Upon request. we also disseminated news and infomiation from our council public heallh colleagues. In 2022-23. 1.152 news emails were shared using this platform. Volunteer C•nlre We sent regular communicats'ons to organisations and residents registered at the Vdunteer Cenlre. Website Our website had over 37k visits from VCS groupslorganisalions accessiw 8 range of c8pacily buildirwj and organisational d8vek>pmenl inform8tionlresources and events to support the VCS in the delivery of their semces. 12 Voluntary Action151in9ton Limited Trnstaos. Annual Report For the yoar ended 31 March 2023 OUR VOLUNTEERS AND STLIDENT PLACEMENTS In addition to our Iruslees. during the past year, VAI had o small team of volunteers assisting us in delivering some of our 8¢1ivilies. The volunteers supported the customer serwce of VAI Resourc8 Centre and assisted wi(h our Volunteer Centre brokerage service. They arranged f8c8 to face meètings with potenti81 volunteers, suFported the online Volunteer Fairs and promoting volunteerino opportunities across Islinglon. By volunteering for VAI, the volunteers gained waluable work experience which resulted in one Volunteer gaining paid employment al VAI. Our volLmteers during this year included- Justyna Kniec, Juliana Jalo, Kidist Melka, Nadine Johnson, Nisre8n Abou Henda, Madene L811, Megan Malloy and Tara H8rman. Tttey provided support al the Resource Centre and Volunteer Cenlre. as well as providing support at Local Wellbeing Nefv￿rk events and Tneelings. DEVELOPING & SUPPORnNG CROSS SECTOR PARTNERSHIPS We conb'nued to develop new 8nd &xisling cross-seclor p8rtn&rships - please see Slratsgic Aims 4 & 5 above. OUR ACHIEVEMENTS AND PERFORMANCE The trustèes review. gn a quarterly basis. progress m￿e in delivering services that we are iMp￿menting to achieve outcomes in our strategic plan. This review is undertaken et the same time as our quarterly financial review. In addition. regular reports are produced lor each of our funders and evaluations are undertaken 8s prciects come to an end. The main beneficiaries of our services are VCFSE organisatsons providing serwees and activities in the London Borough of Islington and individuals interested in volunleeriThJ in the borough. KEY PROJECTS AND HOW THESE WERE FUNOED Our main sources of income are grants and donations from public authorities ehailtable trusts and foundations, together with Space rental income from our Resowce Centre. The b￿akdOWn of our fundlng durfng this year.. Islington Council core grant to continue wr work in building cap8cily among local VCFS organisations and oporatr'ng our Volunteer Centr¢ brokerage service - £75,000. Islington c￿n¢11 - Local Wellbeing Netw(wks - £45,000 Islington Council - Young Islinglon Ir)clusion Project- £20,OC4) Public Health Islinglon - hyperfocal vaccination and volunteering support- £39.372 Greater London Authority (via Hackney Council for Voluntary SeNcel Londoners Fund N&tworf(- £3,930 VAI Resource Centre- £272,006 Young FINANCIAL REVIEW The Slalement of Financial Activities shows annual net income, before gains on investments, of £53,307 12022". £36,277}. That surplus Comprised net expenditure of £37.825 (2021.. £64,750 surplus) on restricted fund$ and a £91.132 surplus 12022.. £28.473 1¢)$31 on unreslricled funds. The surplus on unrestricted funds was the effeclive operating surplus for the year. After incorporating the £14,976 loss incurred on inveslment values in the year12022.' £16,035 gain), nel income (the annual surplus} feduces to £38,331 12021: £52,312). The trustees ¢onsider that to be a satisfactory result for the year and con51Stent with their commitsnenl to rebuild the charity resèrves. 13 Voluntary Action Islington Limited Trustees, Annual Report Fw th• y•ar •Trd￿ 31 March 2023 Income increased frcyn £407,946 in 2021-22 to £490.853 for the Cufrent year. Vduntary Action Islington's Resour￿ Centre generated the largesl source of income, as it has done in recent years, and contiFiued its recovery from th& Covid-19 impacted years. The London Borough of Islinglon ILBII continued to support VAI'S core activrties under Ihe SiralegiG Borough-wide Partners and Strategic VolunteeriThJ Partners grants. At the year end all funds total￿ £359.076 12022.. £320.7451 of which £289,192 {2022'. £213,036) were unrestricted. General funds. which are considered to be the free reseNes of the charity, totalied £181,72912022.. £162.527). Furlher to the decÉsion fflade by Iru51ees in September 2015. Voluntary Action Service5, the subsidiary trading company established by Voluntary Acticn Islinglon in 2013 remains dormant company. Rgservos On 31 March 2023 Voluntary Action Islington hekl unrestrKted funds lotalling £289,19212022.' £213,036). The free reserves (those unrestrictsd funds thal have not been designated for specif purposes) totall8d £181,72912022.. £162,527). The reseryes policy requires a balanee of free reserves equivalent lo no less than 3 months {25O10l of annual expenditure. The ¢LErrent balance of £181,729 is equivalent to 360h12022', 360kn} of annual budgeted expendituro and 1$ therefore compliant with the policy. Fund5 have been designated from resetv8s for speclfic purposes where costs are not incurred on an annual basi$. At year eftd those fLtnds totalled £107,436 12022.. £50.5091, dgsignations having been made to invest in VAI'$ IT infrastructure and to support potential relocation from the Resource Centre in 2024 including managing the cost of dilapidations. In addition to its unrestricled funds the charity held £69,884 of restricted ftjnds 12022.. £107.709). the use of which is restricted by funders to specffic activities lo support VAI. members and devèkjp the voluntary sector in Islington. Invostmént Policy and Porfomianco This year. Voluntary Action Islinglon im ￿emented invesbmenl pcAicy as ag￿e￿ in October 2022. The objectives of the policy 8re'. To use free reserves to produce the best financial retum wqthin an acceptable lev61 of risk When there are opportunities lo do so tr) invest 8 proportion of our reserves in Ihe devebpmenl of new products and serwces whgrg we assess that il is realislK that Ihese wll generate funds to suslain Ihemselves or when. by investing in pro(Ju¢ls and serw¢es delivered by our subsidiary trading company, we assass that I￿S inv8Stmant could produce a long-lem income stream for Voluntsry Ackn'on Islinglon When there are opportunities to do $0 we will seek investment opportunities that frjther our charitable objectives, whilst at the same time Producing a financial return VAI'S listed investments continued lo generate valuable income throughout the year in line with the investment policy. Inveslmenl values fell from £173,579 to 158,603 during the year resulting in annual unrealised losses of £14,976 12022.. £16,035 gains). The inve5tment5 continue lo be held with the expectation that value5 will rise in the future. 14 Voluntary Action l$lington Limltsd Trustees, Annual Roport For tho yew ended 31 March 2023 Golng Conc•rn The Iruslees consider that there are no material uncertainties about Voluntary Action Islinglon Limited's ability lo continue as a going concem. Principal Risks and Unc8rtainlies During the year the trustees carried out a ￿vieW of the risks faced by the charity in relation to personnel. finance. prop6rty, reputation, new business, health and safety, govemance and management, and performance. Plans lo mitigate these risks were developed and reviewed. A risk register is maintained a5 part of the Business Plan and the Irusl8es ke&p this under remew. The m8in factors likely lo affect the fin8llC181 perfomiance of the Charfty are a reduction in demand for our desk and room hlre provision to VCFSE organisalK)ns, a loss ol funding or insecurity in our Resource Centre lease. We mitigate these risks by improving the facilities at the Resource Cenlre. We plan to maintain our financial resources by careful financial m8nagemenl and by conlinLFing to provide excellent public benefÈt in conjunction with our partners and seeking funding for our projects and charitable seNces lo the local VCFSE. We a150 plan to enswe continuity in our Resource Centre womslon by negoliafjng renewal of Ihe lease in October 2024. PLANS FOR FUTURE PERIODS We are committed to continuing as an independent organisalion bringing together civil society in Islinglon and representing the interesls of local VCFSE organis8tM)ns to th8 main statutory agencies. We will continue to participate in partnership boards that influence how Islinglon Council including Islington's Integrated Care Board IICBI, the North Central London Integrated Care System and Public Health make decision5 that impact on communilies, particularly al a local level. This inclLtdes multi-agency inth8twes such as FaI￿r Together. where we re4Yesent our membership. We will continue to work with VCFSE organisalions lo help diversfy funding and oth8r support, includiThJ by engaging with private business. We wll encOUr￿e collaboration and joint funding bids, which include smoller local organisalions in service dellvery. As part of this approach, we will continue to work wth VCFSE by providing networking and partnership opportunhies. We will continue lo work ￿th other local organisations that provide capacity building and org8nisalional support to their membership and explore how ow collectwe efforts can be made more strategic. We plan to c￿tinue to support the effective management of volunteers and to support organisotions through a mix of one-to-one support and IT8ining workshops. We will continu6 to make appliG4tions for grants and to submil tenders for conlr8cts, ￿1¢h are related to our core functions. Our Resource Centre on Pentonmlle Road is an important community asset for local VCFS organisaknons and wll continue lo be an important source of income supporting our core offer lo local organisalions. We reinvest all the income generated into the mnmunity through our seNices. We Nyill continue to take account of our environmental impact in our management of this facility. Our websrte and social media are well used resources. and we are commltted lo continulng to develop the use of these facililios over the c¢)ming period. 15 Voluntary Action Islington Limit•d Trustees. Annual Report For tho y•ar ended 31 March 2023 STRUCTURE, GOVERNANCE AND MANAGEMETr The charity is conslituled as a company limited by guarantee and is therefore govemed by a memorandum and articles of associalion. This was last amended In November 2013. The provisions of the governir¥J document have been complied with duri￿ the year under review. The Iruslees serve on a Board of Trusle8s. They ￿nsIst of at Igast three and not mgre than 12 indiwduals, all of ￿orn musl be authorised r&pres8ntaliv8s of organisations or an individual member. Esch Truste& shall rets.re from office 8t the end of three years commencing from Ihe date of his or her appointment. A retiring Trustee may be reappointed but 8 Trustee who has served for nine years in lolal must take a break from office and may not be reappointed until the anniversary of the commencement of his or her break from office. Al the end of the year, there were 11 Iruslees ￿th p18ns to recrult one fiJth8r 1 trust8e. The trustees keep under review gap5 in experience and experllse represented on the board, and during the past year a skils audit of currenl trustees was carried out. 1nducb.on meetings are organised for Iruslees lo brief them about the work of Ihe charty and Iruslees attend occasional conferences and courses lo keep up to dale about rekvanl developments. The chadty Is organlsed through th8 Board of TTUStees to ￿0M the Chief Executive is onswerable, through the Chair. Th6 Chair, Chabr and Treasurer are apFK)inted from amon9sI the Iruslees at the first rneeting after the AGM. These offi¢ers Serve for a period of one year. The Chlef Executive Is responsible for the management of stsff n 3 core functtons.. Volunteer Centre, Resource Centre and capacity building and organisalional development. The CEO and staff have responsibility for specific areas of y￿rk and reporting to funders. Thp Chief Executive is not legally a director for the purposes of ￿MpanY or charitable law. The Charity is 8 member of the National Association for Voluntary and Community Action INAVCAI, NCVO. and Chlldren England. These memberships provide infomialion and resources that help us lo assist voluntary community org8nisetions serving the community in14ing10n. The Charity has a subsidiary trading company, Voluntary Action Serwces Limiled IVASI. This is a wvate company limited by share capital and wholly owned by Voluntsry Action Isllngton, To dats VAS has only traded in online leaming courses. Al its meeting on 9 September 2016 the trustees decided that this company should cease trading on 30th September 2016 and should be retained os a domiant company, for potents'al future trading. Hussain Ahmed remains a director of both companies. As VAS is ¢urrenNy dormant. there are no plans as yel to appoint new Directors. Several of thé trustees of Voluntsry Action Isllnglon are employed by or trustees of local voluntsry organisations that are members of Voluntary AGlion lslington. These voluntsry organisations b8n8fit from the services of Voluntary Action Islington. A register of Iruslee interests is maintained and was updated during the year. Any potential conflict of interest is dèclared at the beginning of each trustees meeting. The charity's 51aff. including management personnel, are paid C￿ the national NJC pay scal8. All job descriptions are independently evaluated, and staff receNe the rale of pay applicablg to the scale at vthich the post is evaluated. The pay of the Chief Executive is set by the Iwslees. vtho take account of the performan￿ of the Chief ExeculNe,' the complexity, scale of responsibilities and expected level of external Influen￿ of the Chief Executive role. an assessment of current Chief Executive pay levels wthin the ¢hority sector. ¢omparisons with the pay leve15 of other CVS Chief Executives in London,. the salary range of an equivalent officer within the local authority; and the overall financial position of the organisalion. 16 Voluntary Action Islington Limited Tru8tse8' Annual Report For the yoar •nded 31 MarGh 2023 STATEMENT OF THE TRUSTEes' REPONSIBILITIES The Iruslees (who are also the directors of Voluntary Action Islinglon Ltd for the purposes of company 18wI are responsible for preparing the Trustees Annual Report and the financial statements in ac¢ord8nce wlh applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practi￿}. Company law requires the trustees to prepare financial stslements for each financial year which givè a true and fair view of the slate of 8ff8irs of the charit8ble comp8ny and of the incoming ￿sOUrceS and applic8tion of resources. indudirrfJ the income and expenditum, of the charitable company for that period. In preparing these financial slatements. the trustees are required to- select suitable accounting policies and then apply them consistently ObSe￿e the methods and principles in the Charities SORP make judgements and estimates that are reasonable prudent state wheiher applicable UK Accounting Standards and ststements of recommended practice have been followed. subject to any material departures (Jisclosed and explained in the financial stslemenl prepare the financial statem&nts on the going corfem basis unless il ts inappropriate to presume that the charitable company will continue in operation The trustees are responsible fc)r keeping proper accounting records that disclose with reasonable accuracy at any time the financial positron of the charitsble company and enable them lo ensure that the financial statements comply with the Companies Act 2006. The Iruslees 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 Irregularlties. The trustees are responsible for the maintenance and integrity of the corporal8 and financtal inf0mial￿ included on the Charitable Company's website. Legislation in the United Kingdom governing the preparation 8nd dissemination of financial slalemenls may differ from legislation in otherjurisdictions. Members of the charity gu8r8ntee to contribute an amc4Jnt not exceeding £10 to the assets of the charity in the event of winding up. The total number of such guarantees on 31. March 2023 was 568. The trustees are member5 of the charity but this 8ntitles them only to voting rights. Thè trustees have no benèficial interest in the charity. STATEMENT AS TO THE DISCLOSURE TO OUR INDEPENDENT exAMINERS In so far as th8 trustees are aware.. there is no relevant audit infom)ation of which the charitable company's independent assessor is unaware., and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomialion and lo establish that the independent assessor is 8ware of that information INDEPENDENT EXAMINERS Goldwns Ltd w8re re-appointed as the Independent Examiners of the ch8ritsble company during the year and hove expressed their wllingness to continue in that capacity. Voluntary Action Islington Limited Trusto95' Annual Report For thè yèar •nded 31 March 2023 The tTuslees' annual report has been approved by the trustees on 30 October 2023 and signed on their behalf by.. Nawnder Kaur Company Secretary Registered office.. 200a Pentonville Road Londrm N1 9JP 18 Independent examlnerfs r•port To tho membors of Voluntsry Actlon Isllngton Llmlted For the year ondgd 31 March 2023 I report lo Ihe charity twstees on my examination of the accounts of the Company fc* the year ended 31 March 2023. Re8ponslbllities and basls of roport As the charity's trustees of the Company land also it5 directors for the purposes ol company law) you a￿ responsible for the preparation of the accounts in acctsrdance with the requirements of the Companies Act 2(K)6 (the 2006 Act.). Having salisfied myself that the accounts of the Company are not required to be a￿lled under Part 16 of Ihe 2006 Act and are eligible indopendenl examinats"on, I report in respect of my examination of your ¢harilYs accounts as cariied out under seCt￿n 145 of the Charities Act 2011 I the 2011 Act). In carrying out my examination I have followed the Directions given by the Charity CommiSs￿n under $￿tion 145151 Ib) of the 2011 Act. Indepondent gxamlner's statement Since the C¢ynpanls gross income exceeded £250,000, I confirm that l am qualified lo undertake the examination because l am a m8mb8r of the ICAEW, which is of the listed bodies. I have completed my examination. I confirm that ro matters have come lo my attenfion in connection wilh the examillalion gi￿7￿9 me cause lo believe". accounting records were not kept in respect of tha Company as requirèd by sKtion 386 of Ihe 2006 Act,. or 2. Ihe accounts do not a¢￿d with Ihose Tewrds. OT 3. Ihe accounts do not comply with the accounting requirements of section 396 of the 20C6 Act other than any requirement that the accounts gNe a Irue and fair vlew which is not a matter considered as part of an ind8p8nd8nt 8xaminalion', ty 4. th8 accounts hav& not been prepared in accordance wilh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparin9 their accounts in accordance with the Financial Reporting Stsnd8rd applicatAe in the UK and Republic of IrelaT)d IFRS 1021. I have no concems and have come across no other matters In connection wlh the examinatson lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Anthony Epton BA FCA CTA FCIE Goldwns Chartered a￿Untaftts 75 Maygrove Road West Hampstead London NW6 2EG 18 Voluntary Aellon lslington Limit•d Slatsmont of flMnci•l a￿1VItieS fin¢orporating on incomg and oxpondilurg account) For thg r Onded 31 March 2023 2023 Totsl Reslrided UnrestriLted 2022 Total Restricted Unrestricted Note Income from: Donations and legaaes Charitable activrties Communty Development Member Services and Support Sector Development and Volunteering Investments Other 1.000 75,000 76,000 75.000 75,000 50,000 20,000 so,000 23,930 41.132 41.132 4,939 3.930 4.939 44.372 288,423 8.128 332,795 8,128 75.781 199,334 7,478 4,282 275.115 7,478 4,282 Total incom? 115,372 375.481 490 853 116.913 291.033 407.946 ExpDndlturo on: Charitable activities Community Developmerrt Member Servir£s and Support Sector Development and Volunteerin9 Totsl gxpendltur• 45,273 30,488 45,273 82,094 14.020 4,274 2,434 63,304 16,454 67.578 51.606 77.436 232,743 310,179 33,869 253.768 287,637 153,197 284,349 319.506 371,669 Ngt lexp•ndituro1 incom• ￿for? not ain$ Ilo$$•sl on inv•strngnts Net gains Ilo$se$) on itwe$tsnent$ 10 137,825) 91,132 53.307 64,750 {28,473> 16,035 36,277 114,9761 {14,976) 16.035 Not 1•X￿ndIfurOI in¢omo for th• y•ar 8 137,825) 76.156 38.331 64,750 {12.438) 52,312 Transfers behveen fvnds 5.585 N•t mov•m•nt In funds 137,825) 76.156 38,331 59,1BS {6,873) 52,312 R•conelllatlon of funds: Total funds brought forward Total fund5 carried fonyard 107,709 213,038 320,74S 219.909 268,433 15 69,884 289.192 359 076 107,709 213,036 320,745 Al of the above res￿$ are deriv•d from ¢Mtinuing activrfl•s. There were no other re￿ni￿￿ gain$ or108ses ¢lh•r than thost 8tst•d al>)v•. Movem•nts in fvnd$ are di8dos•d In not• 15 to the fin￿la1 8tatement8. The note$ on page$ 23 to 38 form part ofthese finan￿al statements. 20 Company No. 01913555 ## **Voluntary Action Islington Limited (Limited by guarantee)** ## **Balance sheet** ## **As at 31 March 2023** |Note
**Fixed assets**
Tangible assets
9
Investments
10
**Current assets**
Debtors
11
Cash at bank and in hand
**Liabilities**
Creditors: amounts falling due within one year
12
**Net current assets**
**Net assets**
14
**Funds**
15
Restricted funds
Unrestricted funds:
Designated funds
General funds
**Total funds**||**2023**
£
**13,468**
**158,603**
**172,071**
**27,227**
**254,605**
**281,832**
**(94,827)**
**187,005**
**359,076**
**69,884**
**107,463**
**181,729**
**359,076**|2022
£
27,522
173,579
201,101
17,179
176,072| |---|---|---|---| ||||193,251
(73,607)
119,644| ||||320,745
107,709
50,509
162,527
320,745| These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. Approved by the trustees on 30 September 2023 and signed on their behalf by: Jorge Llorens Treasurer **----- Start of picture text -----**
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,-- ,--
-.J J../ � -
Joseph David Irvin
Chair
**----- End of picture text -----**
The notes on pages 23 to 38 form part of these financial statements. 21 Voluntary Action1¥4ington Limited Statement of cash flows For tho ear ended 31 March 2023 2023 2023 2022 2022 Nét Cash providgd by lu#èd inl opèriting activitles 16 70,405 69,165 Cash flows from Invo$ting activitios: Dividends from inveslm8nls Sale (purchase} of fixed assets Sak Ipurcha$e} of investments 8,128 7,478 12,915) Cash providgd by lu$od in) inv8sting activiti8s 8,128 4,563 Change in c•$h and cash *quival•nts in the year 78,533 73.728 Cash and cash equivalents at the beginning of the year 176,827 103,099 Cash and cash •quivalents at the end of the year 17 256,360 176,827 22 Voluntary Action Islington Limited Notes to the financial statornents For th8 eargnded 31 Ma￿h 2023 Ac￿￿n•1ng polkles la 8asl$ of preparatlon The fInar￿la1 statements have been prepare(l in accordance with Accounting and Reporting by Charities.. Statement of Rewmmended Pradi¢e epplicable to charities preparing their a￿ount$ in xcordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP FRS 1021, the Financial Reporting Standard applicable in the UK ond Republic of Ireland {FRS 102) and the Compani&s Act 20(￿. Voluntary Action Islington meets the definition of o public benefit enlily under FRS 102. Assets and liabilrties are initially recogniged al historical c05t or transaction value unl8ss othe￿iSe stated in the relevant accounting policy or note. 1b Golng Concorn The trustees consider that there are no malefial uncertainties regarding the Charty's abilty to continue as a going concem. They are confident that the level of reserves, the strong recovery from Covid-19 disruption in the last year and the On￿01￿9 diver8ificalion of income stream8 will together ensure ils abilty to continue as a going concern. No key judgements have been made by the charitable company which have g significant effect on the act￿nIs. The Iruslees do not consider that there are any sources of estimalion uncertainty at the reporting date that have a signfftanl risk of causing a material adjustment to the carrying amounts of assets and li8bilities within the next reporting period. 1¢ Income Income, including income from government and other grants. whether 'capital' grants or 'revenue' granls, is recognised when the charity has entillemenl lo the funds. any performance conditions attached to the ints)me have been met, rt is probable that the income will be received and that the amount can be measured reliably. Grant$ are crgdited to incoming resources when Ih&y are receivable as the charity's own money, unless they are for activities that relate to a specific future pgriod. in which case they are deferred lo Ihal period. Incc#ne recewed under contracts for seNices wh￿h cross over the year el￿ are recognised in the financial statements in line with the per￿ntage ol completion of the contract at the year end. Income received in advan￿ of the provision of a specified service is deferred until the criteria for income recognition are met. Distributions from listed investments are included when receivable and the amount C8n be measured reI￿bty by the charty., thi$ 1$ normally the date on which the holding is first quoted ex dmdend or the end dale of the peri(Id for which tt 15 accrued as nolrfied by the fund manager. Voluntary Action l$lington Limltod Not08 to the flnantlal $tatem8nts For the ar •nded 31 March 2023 Ac¢ountlng pollcles {contlnued} 1d Fund accounting Unrestricted funds are available to spend on actNities that further any of the purposes of the charity. Designated funds a￿ unrestricted funds of the charity which the trustees have decidod at their discretion to Set aside to use for a Specif￿ purpose. Restricted funds are donations which the donor h8S Spectfied are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity. le Expendlture and Irrecoverable VAT Expendrture is recognised once there is a legal or constructive obligat￿n to make a payment lo a IhiTd paty. il is probable that settlement will be required and the amount of the obligation can be measured reliabty- Expendrture is classified underthe following activity headings.. Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contribulM)ns to it, as well as the cost of any aclNities wth a fvndraising purpose. Expenditure on charitable activit￿$ includes the Costs of Servic￿ and support to mgmber3 and developin9 volunteering and the local voluntary sector undertaken to further the purposes of the charity and their associaled support costs. Irrecoverable VAT is charged as a cost against the acliwty for which the expenditure was incuThed. 1f Alk>cation of support tosts Resources expended are allocated to the partIcu￿r 8CtMty where the cost relates dlreclty to that aclNily. However. where costs cannot be directly attribuled, they have been alhxated lo actwilies on a basis consistent with their use of resources. Premises are allocated proportionate to ftoor Space ¢)ccupied by each actiwty as foll¢)W8.' Community Development 1.2% Member se￿Ice$ and Support 2.3% Sedor Development and Volunteering 95.6% Support Gosts 0.8Y• Governance ¢osl$ 0.10 Other costs of administration are allocated per capila VAI staff and other occupants of the Resource Centrg as foll¢)ws'. Community Development Member Services and Support Sector Development and Volunteèring Supwrt costs Governance costs 2.7% 5.4% 89.90 1.9% 0.1% Support and governance costs are rfrallocaled to each of the activities on the following basis which is an estimalg. based on stsff lime, of the amount attributable to each activity.. Community Development 7.4y(I Member Services arKJ Support 14.9% Se¢tor Devel¢¥￿ent and Volunteering 77.7Yo Govemance costs are the costs associated with the govemance arrangements of the charity. These costs are associal8d with constitutional and slalulory requirements and include any costs a$soGiated wth the 8trategic management of the ch￿ty.$ activities. 24 Voluntary Action Islington Lirnitgd Notès to thè financlal stat•m•nts For th• ear •nd•d 31 March 2023 Accountlng poll¢le* {contlnued) lg Opgratinglgases Rentsls payable under operoling leases, where substantially all the risks and rewards of vnership remain with the les50r. are charged to the $18lemenl of financial activrtie8 on a straight line basis over the length of the lease. 1h Tangiblo fLxed assets Items of equipment are capitalised where the purchasè price exceeds £2,OQO. Deprecialton costs are allocated lo actiwties on the basis of the use of the related assets in those activities. Assets reviewed for impairmonl rf cir¢umslan¢e$ indicate their Carrying value may exceed their net realisable value and value in use. Depreciation is provided on a straight-line basi5 at rates calculated lo write down the cost of aach assel lo ts estimated residual value over expected useful life. The dePre¢￿10n rate$ in use are as fouows.. Furnrture, Fixtures and Equipm8nt Leasehold propety 4 years The lesser of 15 years or the remaining1gas8 term 11 Listed investrnents Investments are 8 form of basic financial instrument and are inilialty ￿COgnised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value be recognised in the statement of financial activits'es. 1J Deblors Trade and other debtors are recognised at the settlement amount due after any trade di$count offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 1k Cash at bank and In hand Cash al bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of aGqui¥f(ion or opening of the deposrt or similar aeeount. 11 Credltors and provlslons Creditors and provisions are Tecognised where the charity hag a present obligation ￿$￿Iling from 8 past event that wll probably result in the transfer of fund8 to 8 Ihiid paty and the amount due to sett1¢ the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their s8ttlement amount after allowng for any trade discounts due. 25 Voluntary Action lslington Limit•d Not8s to the financ5al $tst•ments Forthe ear •nd•d 31 Mareh 2023 Income from donatlons and legaci•s Restricted Unrestricted 2023 Total 2022 Totsl London Borough of Islington 1,000 75,000 78.000 75.000 1.000 75,000 76.000 75,000 Voluntary Action Isfington benefft from a SectKJn 106 Agreement that provides aceommod8th?n at a peppercorn rent. As it is not possible to pul an accurate value to this, il has not been recogni$ed in the Slalement of Financial Activities. 3 Income from charltsblo actlvltles Restricted Unrestricted 2023 Total 2022 Total London Borcwh of Islinglon Local Wellbeing Nthork Peabody Local Well)eing Nthork Donations and similar income. under 45,000 30,000 11,132 5,000 Su￿tal for Community Development 50,000 so.000 41,132 R&stn¢lod Unrestricted 2023 Total 2022 Total Greater London AUthc￿tY (via Hackney Council for Voluntary Service Young Londonerfs Fund Ne￿Ork London Borough of Islinglr)n Young Islington Ne￿Ort{S SutAotal for Member Services and Support 3,930 3,930 4,939 20,000 20.000 3,930 4,939 26 Voluntary Action lslington Llmlted Notss lo Ihe flnanclal statgmgnts For thè ear ended 31 March 2023 3 In¢omo from charltablg aGilvltlos {¢ontlnuod) Restricted Unrestricted 2023 Total 2022 Total Communty resource and other seNice income London Borough of Islington COVID-19 vaccination roll-out support COVID-19 vaccine uptake Public Health Peabody Ivia The London Communty Foundation) South Islinglon volunt88ting opportunilies Donations and similar income, under £10,000 each Sub40ts1 for Sector Development and Volunteèring 272.006 272,006 154.322 36,D26 59,281 39.372 39.372 15,thxi 5,000 16,417 10,486 44,372 288,423 332.795 275,115 Total incLThe from charitabfe actThiitie$ 114372 292 353 321 186 4 Other income Restrrted Unrestrided 2023 Total 2022 Total Coronavirus Job Retention Scheme 4,282 4,282 27 :% D l)Jtsl iOrO m(om I m 0> ¢> OLn•) -Q)r ) ro 2¥ScI￿0}U Voluntary Action Islington LFmited Notes to the flnanclal statements For the ear ended 31 March 2023 Anatysl$ of stsff ¢oBts, trustog remungratlon and ex￿nseS and kèy management staff costs were as follows.. 2023 2022 Salaries and wages Redundancy and termination costs Social security costs Employer's contribution to defined contribution pension Schemes 234.372 187,400 4,208 14,731 10,348 218,687 16.601 18,886 13.451 266.709 Agency costs 287.249 233,288 No employee receNed employee benefrts {excluding employer pension) ex￿edIng £60,000 during the year12022.' No empbyee). The totsl employee benefrt8 including pension conlribulions and eryloyerfs national insurance oftha key manag&ment personnèl ware £78,026 {2022'. £57,330). Th8 charity trust￿ weTe not paid or received any other benefits from employment with the Charity in the year {2022 £nil). No ¢haiity trustee received payment for professional or other seNices supplied lo the Chanty in the year12022.' £nill an¢J no trustees wore reimbursed expenses12022'. none}. Staff numbers.. The average number of employees (head count b8sed on number of slaff employe(l) during the year was 812022.. 61. The avoragg numhr of gmployeos {fvll time equivalent} during the year and by activity was as follows.. 2023 No. 2022 Community Development Member Services and Support Sector Development and Vdunteering SuFPOrt and govemance Taxation The charitable eotryany is exempt from ￿rpOration lax as all its ineome is charitable and is applied for charrtable purposes. 29 Voluntary Actlon Islington Llmit•d Notes to Ihe Ilnan¢lal ￿atements F¢r the r Ond￿ 31 March 2023 Net income (expenditure) for the year This is stateil aftar charging.. 2023 2022 Deprttialion Board of Trustees- indemnity insurancè Operating lease charges Independent Examiner's remuneration.. 14,054 505 8,613 3,000 14,621 492 8,319 3,000 Tangible fixed 888ets Furniture, Fixtures and L¢a$ehold Equipment property 2023 Total At 1 April 2022 Additions in year Disposals in ye 101,397 133,950 235.347 5,279 At 31 Marth 2023 96,118 133,950 230,068 Doproclatlon Al 1 April 2022 Charge for the year Eliminated on disposal 97,899 2,041 5,279 109,926 12,013 207,825 14.054 6,279 At 31 March 2023 94,661 121,939 216.600 Nèt book valuè At 31 March 2023 1.457 12,011 13,468 At 31 March 2022 3,498 24,024 27,522 All of th& above a$$8ts aro used for Charitab￿ purposes. 10 Flxed asset Investments 2023 2022 Listed inveslm8nts (notè 10a> Investment in SU￿ldiary company {l￿te 10bl 158.602 173,578 158,603 173.579 Voluntary A¢tion Isllngton Llmltod Notss to tho financial staloments For tho ear ended 31 March 2023 10a Llsted Investments 2023 2022 Analys1$ of movement of Investments Market value al start of year Disposals at market valu& Realised gains l {10$5es) Unreali5ed gains I11055es} Market value al year end 172,823 156,788 14.976 157,847 16,035 172,823 Cash instruments aftd cash held for ￿lAVeStMent 755 755 Fatr value 81 year end 158,602 173.578 Historical cost 158,695 158.595 The investments comprise two UK unit trusts. 10b Inv•stm•nt in subsidiary company VAI benèficialty owns the entire Share capital of Voluntary Action Semces Limited la company limited by share capital, company no. 8612449 {England and Walesll, through which VAI'S ommercial trading previously look place. In September 2016 the deCis￿n was taken to suspend trading through the Company. The company remained domanl at 31 March 2023. The share capttal and reserves of the Subsidiary are not material and therefor• no ¢ons01idaled accounts have been prepared. Disdosure is confined to this note to the accounts. 2023 2022 Investment in Voluntsry Action Services Ltd at cost At 31 Ma￿h 2023 VAI held one share of £1. being the entire share capital of the trading conyany. 10b Inv•stm•nt In $ub$ldiary company (continu￿) Relevant financial information regarding Voluntary Action Services Ltd is as follows. 2023 2022 Assets Liabilrtigs Totsl funds 31 Voluntary Action lslington Limit•d Noto8 to tho finanGlal statements For tho ear ended 31 March 2023 11 Debtors 2023 2022 Trade debtors other debtors Prepayments 18,456 3,152 S,619 9,108 798 7,273 27.227 17,179 12 Credllors: amounts falllng due wlthln one year 2023 2022 Tax a￿1 social security ¢osts Trade creditors Other creditors AccNa18 Deferred In￿Me (note 12) 6,488 14,955 10,543 1,515 53,119 3,853 73,214 170 94,827 73,807 Deferred incorne 2023 2022 Balance at the beginning of the year Amount released to income In the year Amount defetred in the year 3,663 {3,6531 170 4.884 14,884} 3,653 Balance at the end of the year 170 3,653 Deferred income comprises resource centre income received in advance12022.' one partiolty delNered Service contracll. 13 Related party transactions Colin Adams is a trustee of VAI and a trustee of Octopus Community Nehvork. VAI paid Odopus Communty Network £8.149 1¢)wards Costs in¢urred in Supporting the L¢xg1 Wellbeing Netsvork programme in the year. There were no related party transactions to disclose for 2022. There are no donal*)ns from related parties which are OLrtside the nomial course of business and no restricted donations from related parties. 32 Volunlary Actlon l$llnglon Llmiled Notes to th& financial $t•tgmgnts For Ihe ear ended 31 Mar¢h 2023 14 Analysls of group net assets between lunds 14a Curr•nt year Reslricled Designated funds nds General funds Totsl funds Tangibte fixed assels Investmgnt assets Net current assets 7,005 6.463 60.000 41.000 13,468 158,603 187,005 98,603 83,126 62,879 Net assets at 31 Ma￿h 2023 69,884 107.463 181,729 359,076 14b Priory•ar Restricted Designated Gen8ral Total Tangible fixed assets Investment assets Net current assets 14.013 13.509 33.000 4,000 27,622 173,579 119.644 140,579 21,948 93.696 ass•ts at 31 March 2022 107.709 50.509 182.527 320,746 33 Voluntary Actlon l$lington Llmlted Not8s to thg finan¢ial $tat8m?nts For the ear ended 31 March 2023 15 Movements sn funds 16a Currgnt y9ar At the start of the year IncomirKJ Outgoing and and gains lossès At tho end Transfers of th8 yoar Restricted funds: Childron and Young People's Voluntary Sector Forurn Cost of living Covid-19 Vaccination Prcgramme Local Wellb8ing Ne￿Ork Public Healih and Communty Engagement South Islington volunteering opportunities Ukraine Relugee Infrastructure Fund VCFS Annual Conference Young Islinglon NO￿0[k$ Fixed assets 17,664 110,488} 15,000) 134,818> (44,194) 7.176 5,OC 34,818 27,112 45,OCQ 27,918 39.372 {15.508) 23,864 14.102 {14.102} S.OLKI 1,OC 20,OC 11.079) 11,000} {20,000} 7.008 3,921 14.013 7,005 Tolal restricted fund8 107.709 115,372 153,197 Unrestrlcted funds: Designaled fvnds.. ICT infrastrudure deveh)pment Relocation Fixed assets 4,000 33,000 13,509 4,000 97.000 64.000 Total designated fvnds G•n•ral funds 50.509 17,0461 292.279 64.000 107,463 181.729 162,527 375.481 64,000 Total unrestricted fund5 213,036 375.481 99.325 289.192 Total funds 320.745 490.853 452.522 359,076 Voluntsry Actlon Isllngton Umlted Notes to the financial stat•ments For tho ar ended 31 March 2023 15 Movem•nts in funds Icontinuod) 15b Prior year At tho start of the year Incoming Outgoing and and gains losses At the end Transfers of the year R•$trletod funds: Chikjren and YOUTVJ People's Voluntary Sector Forum Covid-19 Vaccination Prctyaramme Islington Environment Foium Local Wellbeing Network South Islinglon volunteering opportunities Voluntsry and Community Sector Emergency Partnership Fixed assets 21,938 14.274) (24.463) 17,664 34.818 59,281 5,565 15,5651 41.132 (14.0201 27.112 15.000 {898) 14,102 1,500 {1.5001 ,008 21.021 14.013 Totsl restricted fund8 48,524 116,913 52,163 5.565 107.709 Unrestrlcted funds: Designated funds." Building improvement ICT infrastructura d8vek)pm8nt Relocation Fixed assets 5.000 4,000 33,000 11.081 15,0001 4,000 33.000 7,613 10.041 Total designated fvnds G•n•ral funds 53.081 112,6131 306,893 10,041 50,509 166,828 307,068 4,476 Total uTrr•strlct•d funds 219.909 268,433 307.068 423,981 319 506 Total funds 371,669 320.745 35 Voluntary Action Islington Limited Notes to the flnanelal statements For the ear ended 31 March 2023 ISC Movoments In funds Icontinuedl Purpos• of restrictsd funds Children and Young Funds provided by the Londcffl Borough of Islinglon lo support People's Voluntary Sector activities by the Children's Voluntsry Sector Forum. Fowm Co$1 of Living NAVCA funding to facilitsle the sharing of data and insight befv￿n VCFS and LBI. Includ8s facilrtalion and support for th& LBI staff volunteering programme. Covid-19 Vaccination Programme Funded by NCL Clinical commiss￿1ng Group and Departhent for Levellin9 Up, Housing and Communities, the programme aimed lo improve Co￿d-19 vaccination take up In areas and communllles where it is low. l$lington Environmont Fowm Fund8 originally transferred from Groundwork London for activities undertaken by Ihe Islington Enwronment Forum, led by an Independent Choii. After fNe years of inactivity, with multiple attempts made over lime to contact representslives of the Forum to as￿rtain their intentions for this funding. VAI'S Iruslees concluded in 2021-22 that they were no k*nger required for this restricted purpose and took them back to general funds. Lttal Welbelng Network As part of 18lington Coundl's 'Falrer Togethel inltiatw. VAI and Octopus Community Network have been lunded to develop Local Wellbeing Netsvorks in the North, Central and South localities to increase collaboration between tocal seNices and lo provide plarform for community VO￿8. Publie Heatth and Funding to develop effective partnerships ￿th Public Heamh and the Community Engagement local VCFS to promote Covid vaccInat￿n and other health and wellbeing offers. South Islinglon To provide outreach servtis to Peabody residents especialty Ihose volunteerin9 QPPOrtunities located in the south of the borough. Ukraine Refug8a Infrastweture Fund To partner with Healthprom, aTrJ develop a ne￿[k of organisalions lo proviée more effective support to Ukrainian families hosted through the sponsorship programm8. VCFS Annual Conference LBI fvnding towards catering ¢08ts for event held al London Voluntsry and C¢)mmunity Grants from NAVCA to prov*Ye local intelligence. supplied via Sector Emergency woekty Emergency Partnerships Pulsg Check Surveys, about l¢xal Partnership priority concerns arising from Covid-19. Young lslington Ne￿rkS To widen th8 engagement and participation of Islington's VCFS in the Young lslington Networks and the Universal Youth Work Offer. Voluntary Action Islington Limitod Note8 to the flnanclal statements For the ear ended 31 March 2023 15c Movements in funds {continv8d) Purposo of rostrfcted fund$ {continuedl Fixed assets To eover the futu￿ depreciation of Voluntary Action181ington's fixed assets originalty paid for from restricted funding. Purpose of designated funds ICT infrastructure development A fund lo invest in essential improvements to the ICT infrastrudure of the Resource Cenlre. Relocation A fund lo be built up over 10 years so that Voluntary Adion Islington 1$ in a position to manage ils liabilities at the end of the lease on the current building in October 2024 and lo seek attemative premises. £64,000 was deslgnaled lo the fund in the year. Frxed assets To cover the future depreciation of Voluntary Action Islington's fixe¢J assets originally paid for from unrestricted funds. 16 Reconclllallon of net income I (expenditure) to not Cash Ilow from operatlng actlvltles 2023 2022 Net movement in funds for the reporting poriod las per thg stat•mont of flnanclal 4¢tiviti0s) Depreciation Interest, rent and dividends from inveStn￿ts IGainsl I losses on in￿stManiS Ilncrease) I decrease in debtors Increase I {de¢r￿Se) in creditors Net provSdad by l {usad Inl operating activities 38,331 52.312 14054 (8.128} 14.976 110.048} 21.220 70,405 14.621 {7,4781 116.0351 17,287 8.458 69,165 17 Analysi¥ of cash and cash e4uivalents At31 March 2023 At 1 April 2022 other anges Cash flows Cash al bank and in hand Cash held by investment managers 176,072 755 78,533 254,605 755 Total cash and Cash equivalonts 176,827 78.533 255.360 37 Voluntary Actlon Isllngton Llmlled Notes to the financial ststgments For the •ar ended 31 March 2023 18 0￿ratIng I￿$8 commltmgnts The charitls total ffiJture minimum lease payments under non<8ncellable oper81ing leases is a8 follows for each of the following periods Equipment 2023 2022 Les$ than one year One to five years Over five years 8,610 24,869 8,582 31,538 1,913 33A79 42,033 19 Contingent liability Under the terms of Ih&1ga$e for rts current premises Voluntary Action Islington is liable for the costs of restoring the property to ils original condition, including removgl of all fixlures and fittings, if so required by the landlord when yielding up the propety at the end of the leas8 t8rm Ioctober 20241. Th8 extent of ihe works that will be required and the consequent eosl cannot reasonably be estimated al this lime and so no provision ha$ been made for this in the a¢¢ounts. 20 Company limited by guarnntee Voluntary Action 151ington is a company limrted by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute sueh amount as may be requiTed not exceèding £10 to the assets of the charitable company in the evonl of its being wound up whi he or she 1$ a member, or within one year after he or She ceases lo b8 a memb8r.