COMPANY REGISTRATION NUMBER: 1971731 CHARITY REGISTRATION NUMBER: 293417 Hartcliffe & Withywood Ventures Company Limited by Guarantee Financial Statements 31 July 2024 HARLT N BAKER LTD Chartered Accountanls & statutory audilor 61 Macrae Road. Ham Green, Bristol BS20 ODD Hartcliffe & Withywood Ventures Company Limited by Guarantee Financial Statements Year ended 31 July 2024 Page Trustees, annual report (incorporating the directors. report} Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows 14 15 16 Notes to the financial statements 17 Hartcliffe & Withywood Ventures Company Limlted by Guarantee Trusiees, Annual Report {Incorporaling the Directors, Report) Year ended 31 July 2024 Page 1 The directors, who are also the directors lor the purposes of colnpany law, present their report and the financial statements of the charity for the year ended 31 July 2024. Reference and admlnlstratlve detalls Registored charity name Hartcliffe & Wilhywotxl Ventures Charity registratSon number 293417 Company regislratlon number 1971731 Principal office and registered The Gatehouse Centre off ice Hareclive Road Hartclitfe Bristol BS13 9JN The dlrectors C Clements H Holland M T Owens T Ansley D Portingale A Retter J Watts Cway IResigned 7 November 20231 IResigned 11 June 20241 Company secretary J Thomas Auditor Charllon Baker IBristol) Ltd Chartered Accounlanls & slatulory auditor 61 Macrae Road, Ham Green, Bris101 BS20 ODD Bankers Barclays Bank PIC PO Box 324 Park House Newbrick Road Stoke Giltord Bristol BS34 8ZJ Strategi¢ directors Amanda Brewer & Llsa Mundy Page 2 Hartcliffe & Withywood Ventures Company Llmlted by Guarantee Trustees. Annual Report (Incorporatlng the Directors. Report) (eoniinu￿J Year ended 31 July 2024 Structure, governance and management Hartcliffe and Withywood Ventures is a Charty registered under a scheme with the Charity Commission, governed by the Charities Act 2011, and is incorporated as a company limited by guarantee. The constitutional documents are the memorandum and articles of association. The Trustees ol the Charity are also Directors ol the Company. They are drawn mainly from users ol our services and local people in business, polllics and likeminded agencies. Residents living in the area ol benefit are particularly welcomed. We monitor the make-up of the Board in terms ol age, elhnicily. gender and disability and take action where there are gaps. The full Board ol Trustees meets al least six limes a year. There is clear and agreed delegation of the day lo day running ol the organisalion with Strategic Directors also attending Board Meetings. The Trustees confirm that they have referred to the guidance contained in the Chanty Commission's general guidance on public benelit when reviewing the Trust's aims and objectives and in setting the grant making policy for the year. There is clear public benefit as the charity assists people in a disadvantaged area ol Bristol lo gain and develop skills, qualifications and employment. Risk management Risk assessment is carried out annually as part of the business planning and self assessment processes. Actions are identified lo mitigate risks where possible. The key risks identified this year have been the planned withdrawal ol the long term tenant al our salelile business unil site - The Lamp, and the impact on in¢orrie. and the ongoing costs ol employment wth national minimum wage increases to manage. These risks have been mitigated wlh reconfiguration and increased occupancy of rentable spaces al our main sile - the Gatehouse Centre in the short-term and careful ongoing management of employment costs and stalling. Page 3 Hartcliffe & Withywood Ventures Company Limiled by Guarantee Trustees. Annual Report (Incorporating the Dlrectors, Report) (conttnu•d) Year ended 31 July 2024 Objectives and activities The charitable objects lor which the company is established are stated in the memorandum of association. The objects continue lo be lo increase the choices and opportunities available lo people in Ihe BS13 area of Bristol so that they have a better standard of living and hlgher quality of life. The main objectives for the year were.. To continue lo work lo reduce barriers to accessing, remaining in and progressing in care, education, learning and employment for children, young people and adults. To further develop provision ol learning and qualifications in response to local needs. With a continued focus on the emotional health, well being and support to IcKal people during the oNJoing cost ol living crisis. To further develop partnerships with other community & learnin9 organisations, support agencies and businesses lo benefit the local community. Our Slralegies lor achieving Ihese objectives were as follows- For our Colnmunity Development worker to continue lo work with other lo¢al agencies in events and initiatives locally. To retain our contracts with the City 018rislol College lo provide qualifications lo adult learners and young learners adjusting our offer to meet needs and interesls and engage and progress learners in their learning and employment aspirations To relain the Matrix auality and Bristol Standard quality marks. To build Ihe capacity of local people through volunteer placements and access lo experience training and qualifications. To retain the contract with Biislol City Council lo deliver the Nursery EdLKalion Grant for 2 and 3 year olds and prepare for the extended Nursery Education Grant otter. Look at opportunities for new ways lo work with and support local people who are isolated disengaged and in need. Page 4 Hartcllffe & Withywood Ventures Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Directors. Report) (¢onlin￿d) Year ended 31 July 2024 Aehievements and performance We continue lo sub-conlracl the majorlty of our training provision wlh the City of Bristol College. We work wlh significant numbers ol young people 45 in Ihls year alone, with around 20°/. ha￿ng a high level of need and significant barriers to educatlon and employment. We have worked wlh 148 adult learners in year again with a significant number needing additiona5 learning support lo achieve their goals. Exam performance and qualification achievement lor the year has been good with success rates ol 840/0 in youth and 820/0 in Adults. We have a150 been re-awarded our Matrix standard quality mark. We continue lo delNer the Nursery Education Grant provision with Bristol City Council funding and prwale Nursery spaces. The Nursery has achieved full occupancy this year with over 100 children on register. We remain good raling with OFSTED and have been re-awarded The Bristol Standard qtsality mark. Our community spaces have been well used this year and room bookings and spaces lor Businesses and other agencies to rent have been increased to full capacity. Our Community Development Worker has Continued to build partnerships wilh other agencies such as DWP, Family Hub, Job Centre, Brave a Bold, Caring in Bristol and Ways2Work and has set up new inilialives including offering community winter warmer drop in setvice, pop up clothing events tor local families and securing lottery funding lor a Charity shop project at The Gatehouse Cenlre. Flnanclal revlew Our main sources of funding are- Contracts for delivery ol training & qualifications, City of Bristol College.- Bristol City Council. Private Nursery lees and the Nursery Education Grant Rental income from letting space at the Gatehouse and the LAMP. Income from the Calé, room bookings and bLfftets. These funds have supported the charitable objectives through Ihe employment of staff who: Keep the premises clean, welcoming and well maintained. Run the café as a 'hub' lor local people to congregate and eaV50cialise. Deliver advice and guidance. training, support and assessment to people wanting to upgrade their skills and knowledge, gain qualifications and work experience and ultimately become employed. Care for and educate young chiklren whilst enabling their parents to train or work. Hartcliffe & Withywood Venlures Company Limiled by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) (¢oniinu8d) Year ended 31 July 2024 Page 5 Flnanclal review fconlinued) The Future The economic environment is dillicull and promises to remain $0. We continue to provide the majority of our training through contracts wllh City of Bristol College. However 23124 has seen the introduction of some smaller aliemalive funding pots to add breadth volume lo the services we currently oller. This is a strategy Ihat will continue for 24125 with partnerships developing with of key organisatK)ns and lunding bids submitted to further increase education services locally. The Gatehouse Centre ha5 had some substantlal repairs and general malntenance this year and this will also be a continuing plan for 24125 to ensure the full potential of the building is utilised in lulfilling our aims and sustaining the future of the organisation. The LAMP satellite location is now in the main vacant apart Irom one small business. HWV have been reviewing il's potential uses and the status ol the Lamp Lease before agreeing a plan lor its. future. Gatehouse Nursery is now Operat￿ng yearly at full Capacity and whilst there are no plans lor expansion in the coming year we are continuously monitoring the financial implications of Government policy and cal authority agenda. We rely heavily on City ol Bristol College & Bristol City Council lor the majority of our income but we see no reason lo doubl that either will continue to work with us. However, increasing employment and statting cosl, driven by Government policy and contractllunding levels that do not malch these rising costs, will be a cause lor concern if trends continue lo follow current direction. Reserves policy The directors and trustees of the charhy have established a policy whereby the target free reserves lunder normal condilionsl should be four months, anticipated expenditure in the following financial year. We consider Ihat this will give the charty sufficient unreslricled funds lo continue current activities in the event ol a significant reduction in funding and lo ensure sufficient funding is available lo cash flow the training contracts and lo respond to emergencies and opportunities i.e. iepairslmaintenance lo the building or funding a bid which could bring further opportunities. The charity's free reseNes at the end ol Ihe financial year have been calculated al £753,317 compared with a largel figure of £430,102, resulting in an excess of £323,215. In the current economic environment this excess is considered prudent in view ot the increased uncertainties over lutUTe income streams. However, this will be kept under regular review and wll be partly utilised by further premises maintenance and relurbishmenl expendllure. We have already planned expenditure for 24125 on Maintenance & repairs of approx £50,000. Hartcliffe & Withywood Ventures Company Limited by Guarantee Trustees, Annual Report (Incorporaiing the Dlrectors, Report) [￿n11nued? Year ended 31 July 2024 Page 6 Trustees. responslbilities slatement The Iruslees, who are also directors for the purposes of company law, are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Ac¢epled Accounting Practicel. Company law requires the charity trustees to prepare linancial statements lor each year which give a true and lair view ol the state of affairs of the charitable company and the incoming resources and application ol resources. including the income and expenditure. lor that period. In preparing these financial slatemenls, the trustees are required lo.. select suitable accounting policies and then apply them consislenuy; obseNe the methods and principles in the applicable Charities SORP- make judgments and accounting estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the eharity will continue in business. The Iruslees are responsible for keeping adequate accounting records that are suflicient lo show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible lor safeguarding the assets of the charity and hence lor taking reasonable steps lor the prevention and detection ol fraud and other irregularities. Auditor Each ol the persons who is a director at the date of awjioval of this report confirms that: so far as they are aware. there is no relevant audit information ol which the charity's auditor is unaware., and they have laken all steps that they ought lo have taken as a director to make themselves aware ol any relevant audit inlormalion and to establish that the charty's auditor is aware of Ihal information. The auditor is deemed lo have been re-appointed in a¢¢ordance wlth section 487 of the Companies Act 2006. Small company provisions This Teport has been prepared in accordance wilh Ihe provisions applicable to companies enlilled to the small companies exemption. Hartcliffe & Withywood Ventures Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directors, Report) (conthw Year ended 31 July 2024 Page 7 The trustees, annual report (incorporating the directors, report) was approved on 11 March 2025 and signed on beham of th board of Iruslees by.. T Anstey Director Page 8 Hartclilfe & Withywood Ventures Company Limited by Guarantee Independent Auditor's Report io the Members ol Hartcliffe & Withywood Ventures Year ended 31 July 2024 Opinion We have audited Ihe financial slalements of Hartcliffe & Withywood Vgntures Ilhe 'charilll lor the year ended 31 July2024 which comprise the statement of financial activities (including income and expenditure account), slatement ol financial position, statement of cash flows and the relaleol notes, including a summary ol significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic ol trelar￿ Iunited Kingdom Generally Accepted Accounting Pracli¢el- In our opinion the financial statements: give a Irue and fair view of the slate of the charitys affairs as at 31 July 2024 and of its incoming resources and appSicalion ol resources, including ils income and expenditure, lor the year then ended.. have been properfy prepared in accordance with United Kingdom Generally Accepted Accoltnting Practi￿. have been prepared in accordance with the requirements ol the Companies Act 2006. Basis for opinlon We conducted our audit in accordance with International Slandards on Auditing IUKI IISAS IUKI} and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audil ol the financial statements section ol our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FHC'S Ethical Standard, and we have lullilled 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 lor our opinion. Conclusions relatlng to going concern In auditing the financial slatemenls. we have concluded that the directors. use of the going concern basis ol accounting in the preparalion ol the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast signilicanl doubl on the chariVs ability to ¢onlinue as a going concern lor a pe¥iod ol at least twelve months from when the financial statements are authorised for issue. Our responsibililies and the responsibilities of the directors wllh respect to going concern are described in the relevant sections of this report. Page 9 Hartcliffe & Wilhywood Ventures Company Limited by Guarantee Independent Auditor's Report to the Members of Hartcliffe & Withywood Ventures (contlnued) Year ended 31 July 2024 Other inlormation The other intormation comprises the informatlon included in the annual reF)Ort. other than the financial statements and our audilorfs report thereon. The directors are responsible lor the olher information. Our opinion on ihe financial slatemenls does not cover the other inforrnalion and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. In connection with our audit ol the financial slatemenls, our responsibility is to read the other informalion and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or othetwise appears lo be materially misslaled. 11 we identify such material inconsistencies or apparent material misstalements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement ol the other information. It. based on the work we have performed, we conclude thal there is a material misstatement of this other information, we are required lo report that fact. We have nothing lo report in thi5 regard. Oplnlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of Ihe audll.. the information given in the directors, rewrt for the Ilnancial year lor which ihe financial statements are prepared is consistent with the Ilnanclal slalements., and the dire¢tors' report has been prepared in accordance wllh applicable legal requirements. Matters on which we are requlred to rnport by exception In the light of the knowledge and underslanding of the charity and ils environment obtsined in Ihe course of the audit, we have not identified malerlal misstatements in the directors, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report to you il, in our opinion.. adequate accounting records have not been kept, or returns adequate lor 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 directors, remuneralion specified by law are not made- or we have not received all the inlormalion and explanations we require for our audit., or the directors were not entitled lo prepare the financial statements in accordance with the small companies regime and take advantage ol the srnall companies. exemptions in preparing the directors, report and from the requirement lo prepare a strategic report. Page 10 Hartcliffe & Withywood Ventures Company Limited by Guarantee Independent Auditor's Report to the Members of Hartcliffe & Withywood Ventures {continuedJ Year ended 31 July 2024 Responsibilities of dlre¢lors As explained more fully in the directors, responsibilities slatement, the directors (who are also the directors for the purposes of company lawl are responsible lor the preparation ol the financial statements and for being satisfied that they give a true and lair view, and for such internal control as the directors determine is necessary lo enable the preparation ol financial stalernents that are free trom material misstalement, whether due to fraud or error. In preparing the financial statements, the directors are responsibk lor assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the directors either intend lo liquidate the charity or lo cease operations, or have no realistic alternalive but to do so. Page 11 Hartcliffe & Withywood Ventures Company Limited by Guarantee Independent Audltor's Report to the Members of Hartcliffe & Wilhywood Ventures (conlinued) Year ended 31 July 2024 Auditor's responslbllltles for the audlt of the Ilnanclal ststements Our objectives are lo obtain rgasonable assurance about whether the financial statements as a whole are free from material misstalemenl, whether due to fraud or error, and lo issue an auditor's report thal includes our opinion. Reasonable assurance is a high level ol assurance, but is not a guarantee thal an aLJdil Conducted in accordance with ISAS IUKI will always detect a material misslatemenl when il exists. Misslalements can arise from fraud or error and are considered material il, individually or in the aggregate, they could reasonably be expected to influence the economic decisions ol users taken o the basis ol these financial slatemenls. Irregularilies, including fraud, are instances ol non-compliance with laws and regulations. We design procedures in line wilh our responsibilities, outlined above, to detect material misstalemenls in respect ol irregulartties. including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. Key audlt matters: our assessment ot rlsks of material misstatement Key audit matters are those matters that in our professional judgement were of most significance in the audit ol the financial slalernents and include the most significant assessed risks ol material misstatement Iwhelher or not due lo Iraudl identified by us, including those which had the greatest effect on the allocation of resources in the audit, and directing the efforts of the engagement team. There are no key areas identified as the audit is very low risk with normal audit procedures adequate in all audit areas. We agreed to report lo the board of trustees any corrected or uncorrected identified misslatemenls. Identlfylng and reporting of risks of materlal misstatomont due to fraud To identify risks ol material misslatement due lo fraud we assessed events or conditions that could indicate an incentive or pressure lo commit fraud oi provide an opportunity lo commit fraud. Our risk assessment procedures included: Enquiring ol Ihe strategic directors and the trustees and inspection ol key papers provided to those charged with governance as to high level policies and procedures lo prevent and detect fraud. Reviewng the minutes ol Trustees, meetings. We communicated identrfied fraud risks throughout the audit team and remained alert lo any indications of fraud throughout the audit. As required by auditing standards, and taking into account possible pressures lo meet targets and our overall knowledge ol the control environment, we performed procedures to assess the risks of management override of Controls. To address the peNasive risk as il related to management overrid8 of controls, we remewed material journal entries and agreed these lo supporting documentalion where appropriate. Identifying and responding to rlsks of materfal mlsstatement due to non.compliance wlth laws and regulations We idenlilied areas ol laws and regulations that could reasonably be expected lo have a material ellecl on the financial statements from our general Commercial and sector experience and through discussion with the general manager and Iruslees. As the charity is regulated, our assessment of risks involved gaining an understanding of the control environment including the entity's procedures lor complyng with regulatory requirements. Page 12 Hartcliffe & Withywood Ventures Company Limited by Guarantee Independent Audltor's Report lo the Members of Hartcliffe & Withywood Ventures (conlinu8d) Year ended 31 July 2024 We cornmunicaled identified laws and regulations Ihroughout our team and remained alert lo any indications ol non-compliance throughout the audit. The potential effect ol Ihese laws and regulations on the financial slatemenls varies considerably.. firstly, the cttarily is subject to laws and regulations that directly allecl the flnancial statements including financial reporting regulation lincluding related companies regulalionl, taxation legislation (payroll taxes) and pension legislation and we assessed the extent of colnpliance with these laws and regulations as part of our procedures in the audit areas relevant lo these items. secondly, the charity is subject lo many other laws and regulations where the consequence of non- compliance could have a material effect on amounts or disclosures in the financial statements, lor instance through the imposition ol fines or litigation. We identified the following areas as those mosl likely to have such an ellect: Health and safely laws. Food and hygiene regulations. Laws relating to working with, and the sateguarding ot, young people and vulnerable adults. Auditing standards limit the required audit procedures lo identify non-compliance with these laws and regulations lo enquiry ol management and trustees and inspection of regulatory and legal correspondence, il any. Therefore, il any breach ol operational regulations is not disclosed to us or evKJent from relevant correspondence. an audit will nol detect that breach. Limitations to the ability of the audit to dele¢1 fraud or breaches of laws and regulation Owing lo the inherent limitation of an audlt, there is an unavoidable risk that we may not have detected some mateiial misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non- compliance with laws and regulations is from the events and Iransactions reflected in the financial slatemenls, the less likely the inherently limited procedures required by auditing standards would denlify it. In addition, as with any audit, there remained a higher risk of non-delection of fraud. as this may involve collusion, forgery, intentional omissions, misrepresenlalions, or the override ol internal controls. Our audit procedures are designed lo detect material misstatement. and Iheiefore we are not responsible lor preventing non