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2022-03-31-accounts

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

CONSOLIDATED TRUSTEES' REPORT AND ACCOUNTS

for the year ended 31 March 2022

Company Registration Number 1223344 Charity Number 504542

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Financial statements Year ended 31 March 2022

Contents Page
Members of the Board and professional advisers 1
Trustees’ annual report 2
Independent auditor's report to the trustees 13
Consolidated statement of financial activities (incorporating the
Income and expenditure account) 17
Parent statement of financial activities (incorporating the
Income and expenditure account) 18
Consolidated balance sheet 19
Parent balance sheet 20
Statement of cash flows and consolidated statement of cash flows 21
Notes to the financial statements 22
The following pages do not form part of the audited financial statements
Detailed statement of financial activities 44

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Members of the Board and professional advisers Year ended 31 March 2022

Members of the Board and professional advisers

Greater Manchester Centre for Voluntary Organisation

Registered charity name Greater Manchester Centre for Voluntary Organisation
Charity number 504542
Company registration number 1223344
Registered office St Thomas Centre
Ardwick Green North
Manchester
M12 6FZ
Trustees Anwar Ali – appointed 2 November 2022
Phil Arnold – appointed 2 November 2022
Thomas Berry
Priti Butler
Atiha Chaudry – resigned 31 August 2022
Kathryn Cheetham
Richard Dyson (Vice Chair)
Jesse Garrick – appointed 2 November 2022
Mark Lee (Honorary Secretary)
Cllr. Tom McGee
Julie Nicholson – appointed 2 November 2022
Auditor Beever and Struthers
Chartered Accountant & Statutory Auditor
One Express
1 George Leigh Street
Manchester
M4 5DL
Bankers CAF Bank Limited The Co-operative Bank plc
25 Kings Hill Avenue 1 Balloon Street
Kings Hill Manchester
West Malling M60 4EP
Kent
ME19 4JQ
Unity Trust Bank p.l.c.
Nine Brindley Place
Birmingham
B1 2HB

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GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Trustees’ annual report Year ended 31 March 2022

Reference and administrative details

The trustees, who are also directors for the purposes of company law, present their report and the financial statements of the charity and its subsidiaries for the year ended 31st March 2022 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

Status

Greater Manchester Centre for Voluntary Organisation (otherwise known as GMCVO) is a Registered Charity (504542) constituted on 10th September 1975, and a Company Limited by Guarantee (Registered in England no. 1223344) date of registration 18th August 1975, its governing document being its Memorandum and Articles of Association.

Directors and trustees

The GMCVO directors together with any others who served on the subsidiary Boards during 2021/22 were:

----- Start of picture text -----
GMCVO St GMCVO Access Access to
Thomas Trading to Emergency
Centre Growth Investment
GM GM
Appointed
2 [nd]
Anwar Ali     
November
2022
Appointed
2 [nd]
Phil Arnold     
November
2022
Honorary
Thomas Berry     
Treasurer
Priti Butler     
Resigned
Atiha Chaudry 31 [st] August     
2022
Kathryn Cheetham     
Richard Dyson Vice Chair     
Appointed
2 [nd]
Jesse Garrick     
November
2022
Honorary
Mark Lee     
Secretary
Cllr. Tom McGee     
Appointed
2 [nd]
Julie Nicholson     
November
2022
----- End of picture text -----

Senior staff

John Hannen Chief Executive Officer
Gary Millar Chief Operating Officer
Mike Thomas Finance Manager

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Trustees’ annual report (continued) Year ended 31 March 2022

Summary introduction

GMCVO has passed through a significant year of transition to reposition itself as a leading voice in support of a more inclusive economy. The organisation has focused on its strengths and withdrawn from broader areas of work in order to build its reputation as a specialist in economic change.

As a result, GMCVO now has stronger partnership work and its purpose and function is better understood.

1. Structure, governance and management

1.1 Governance

As a registered charity, GMCVO is administered by a Board of voluntary trustees. The Board, which has overall responsibility for all GMCVO’s activities and the Finance and Personnel Committee (F&P), a formal Committee of the Board, meet every three months to review performance. The Board holds additional meetings throughout the year to consider strategic direction and to consider specific areas of work in greater detail. F&P operates under delegated authority from the Board, whilst making recommendations to the Board in respect of key business decisions that are reserved for the Board’s approval. Additional committees and temporary working parties including trustees, executive staff and co-optees are set up by the Board as necessary and report back to it.

1.2 Subsidiary companies

GMCVO includes four wholly owned subsidiary companies:

Companies pay any profits to the charity by gift aid.

1.3 Trustee selection, appointment and competence

Board members are elected by the membership or co-opted by the Board for terms of up to 3 years (renewable) in accordance with the provisions of the Memorandum and Articles. All persons wishing to put themselves forward for election/co-option must undergo a preliminary selection process following which the Board decides whether to recommend them to the membership as suitable candidates.

New trustees receive an induction pack to acquaint them with GMCVO policy and practice, its aims and activities, management and governance, and with what is expected of them under Charity and Company Law. They are invited to meet with staff and existing trustees.

The Board maintains the ongoing awareness of Board members through verbal and written briefings, and opportunities for attending training and events. The Board formally assessed itself against the Charity Governance Code on 6[th] December 2017 and will do so again in the forthcoming year alongside implementing a skills audit. A governance working group led by the Vice-Chair meets to look at areas for governance improvement.

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Trustees’ annual report (continued) Year ended 31 March 2022

1.4 Pay policy for staff

The pay scales for all staff, except for the Chief Executive, are contractually linked to the NJC scales and the wider employment offer has been subject to local decisions by the Chief Executive, F&P Committee and the Board in accordance with the scheme of delegation.

All staff are regularly supervised and have an annual review meeting with their line manager to agree objectives and priorities supported by a learning and development plan. This process is currently under review with the intent to develop more sophisticated approaches to continuous professional development linked to clear career pathways and succession strategies.

The Chief Executive is supported by the Chair. The overall employee offer was last reviewed by the F&P Committee in August 2016. A process of review of the offer is underway with some initial changes to policy linked to maternity pay and sick pay. Further reviews are planned during the next year, to reflect recent restructuring. A review of the arrangements for determining pay, which included consideration of external market conditions for similar roles, and performance of the Chief Executive was undertaken during 2021.

1.5 Risk management

The Board has identified the major strategic risks to which GMCVO is exposed and receives risk reports at each quarterly Board and F&P meeting covering each area of work and the organisation.

The task of detailed monitoring of the organisation’s financial control systems and procedures is delegated to the F&P Committee, which advises and makes recommendations to the Board and to the Boards of the subsidiary companies. The activities of the subsidiary companies are monitored by the Board; for Access to Growth GM and Access to Emergency Investment GM, the directors also liaise directly with the staff. The Board continually reviews the adequacy of the systems and procedures in place for managing major risks. In the Board’s opinion these are appropriate to the organisation’s size and the nature of its operations.

Many policies and procedures have not been reviewed since the start of the covid pandemic so next year will see significant reviews of organisational policy, particularly related to flexible working, safeguarding, recruitment and equality, diversity & inclusion. Additional staffing has been put in place to address this and advice will be sought from external advisors.

The ongoing financial and societal problems facing Greater Manchester people and organisations, along with major economic policy and public service transformation including the devolution deals in Greater Manchester, have created a very challenging environment for voluntary and community groups and for small businesses and social enterprises. Some can thrive but many cannot. The challenge for GMCVO is to ensure that we continue to deliver and to develop our role as an influential and strategic organisation.

1.6 Additional risks and uncertainties due to changes in the operating environment

The Board has considered the additional risks posed by the current economic challenges to GMCVO and its members, and the implications for the prospects of the charity. The covid crisis has in many ways highlighted the value of local organisations with strong reach into communities, especially more marginalised communities. Funders, commissioners and philanthropists have been generous and flexible under the circumstances. However, the pandemic has left a legacy of poor health and increased demand for VCSE services.

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Trustees’ annual report (continued) Year ended 31 March 2022

Whilst organisations may have been supported to get through the pandemic the reality is that an expansion of activity was needed.

However, this is unlikely to occur now, the current economic challenges are looking to create more significant risks to business than the pandemic did. Many organisations are seeing significant challenges in recruitment of skilled staff and inflation is having an impact on organisations unable to raise prices to cover costs and where grants and contracts have been agreed with lower expectations of inflation. Our research in the pandemic showed that over a third of organisations used reserves to self-fund services and previous sector surveys demonstrated reserves in organisations had been eroded over recent years. This will clearly restrict the ability of organisations to grow services to meet increasing demand for support.

1.7 Action taken to mitigate the impact of the risky environment

Following a strategic review GMCVO has refocused its work in order to concentrate on activity which supports the development of a more inclusive economy. This has enabled the organisation to focus on a narrower portfolio of work that we can more effectively and efficiently engage in. This enables us to concentrate on higher value work linked to our expertise rather than stretch into unfamiliar fields.

Our partnership work has been strengthened with our leadership on inclusive economy recognises. We have renewed our relationship with the GMCA, which previously provided core funding and now have contract work to support their economic agenda as well as seconding staff into the GMCA itself.

We will still seek to provide social investment to VCSE organisation in Greater Manchester, but we are reducing the scale of future lending capacity. We had been planning a new £5m fund supported by Access but have reduced this to £3.5m. There will still be a market for growth in trading in the next few years, but it will be slower to start.

Our current lending assumed a default rate of 25% and we have achieved a rate of only 8%. This gives us an ability to manage a level of reduced performance, but we are monitoring this closely to ensure defaults are avoided where possible and organisations we invest in are supported to adapt. We are currently producing an information pack to help investees understand and navigate support for energy efficiency measures and will seek sources of direct support for organisations in this area over the next year.

2. Aims and Objectives

2.1 GMCVO’s principal objectives as set out in its Memorandum and Articles of Association are to promote:

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Trustees’ annual report (continued) Year ended 31 March 2022

2.2 Mission, Vision and Values

Our Mission:

GMCVO will drive economic and social inclusion in Greater Manchester through effective collaborations and supporting other organisation to achieve their goals.

GMCVO will support better decision making by increasing the accessibility and diversity of learning and insight.

Our Vision – what GMCVO will achieve:

Our Values – how we will operate:

In our day to day work we will

2.3 Strategy

During 2021/22 GMCVO adopted a transitional strategy based around reviewing and restructuring areas of activity and in particular focusing activity on core areas of activity. The focus was to stabilise finances, rebuild relationships with public and VCSE leaders in Greater Manchester and improve management processes and productivity within the organisation.

GMCVO will develop a new full strategy in the financial year 2022/23. It is expected to be in place before December 2022 in order to enable each GMCVO team to develop an annual implementation plan for the next financial year.

These plans will aid internal communication and alignment of work but will also give the staff members and the Board of GMCVO more strategic insight into the work of the organisation.

The strategy will provide an environmental analysis, an assessment of strengths and weaknesses and will put in place a set of strategic goals for the period 22/23 – 25/26. We anticipate a new strategy will be developed during 2025/26 but this review may be brought forward should there be significant political or economic change.

It is anticipated that the focus of GMCVO will remain that of the development of an inclusive economy but with a clear understanding of the need to build resilience within the VCSE sector during a period of economic change.

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Trustees’ annual report (continued) Year ended 31 March 2022

3. Achievements and performance

3.1 Summary

This has been a significant year of change and uncertainty but with a strong and positive conclusion. With the organisation facing challenges it became clear how valued it is within the Greater Manchester VCSE sector. Funders have been supportive in renegotiating activity and very positive about the more intensive focus on inclusive economy.

Some significant projects did come to an end in 2021/22 but staff were able to transition to new work. Despite the uncertainty we were able to retain the majority of key staff and generate new projects.

3.2 Projects

Significant projects and services in 2021/22 included:

3.2.1 Ambition for Ageing:

This flagship programme to support better ageing through the development of Age Friendly Communities came to an end in this year. Through its 7 years the £11m programme supported intensive community development work in 25 neighbourhoods – expanding into support for communities across the city region to re-open activities following the multiple periods of lockdown. This included the provision of small grants.

The team has secured some follow-on funding in order to help disseminate the good practice developed. The staff will now work as a Partnerships Team, managing GMCVOs role as an Accountable Body for any partnership work and running our small grants function.

3.2.2 Hidden Talent

The successful Hidden Talent programme finished its activity mid-way through the year. This supported young people not in employment, education or training and who did not claim benefits to develop their ability to enter the labour market. Fortunately, we were able to secure £403k of funding to deliver a new variation of the project through the Community Renewal Fund which started delivery in January 2022. Through our existing good relationships with community organisations, we were able to start work with young people immediately and were comfortably on track to meet targets ahead of schedule.

The Hidden Talent team have also expanded their remit to become our Work & Skills team and manage other projects, including a new project to support staff in mental health providers to gain university accredited qualifications.

3.2.3 Social Investment

Our first investment fund, the Access to Growth fund, came to a close within this financial year and has been a great success. We were able to allocate all available investment and so far, despite modelling a potential default rate of 25%, defaults have accounted for 8% of investments. This is no small achievement during the challenging operating environment.

We continue to develop work with other social investors including Resonance and the Key fund and the end of the year were able to launch Proper Good, a new placed based lending programme. Proper Good, funded via the Local Access Programme will provide £8m of lending across 4 local authorities with a development partnership in each able to support and develop new forms of activity. GMCVO’s key role is to manage the investments for these partnerships and act as the accountable body.

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Trustees’ annual report (continued) Year ended 31 March 2022

3.2.4 GM VCSE Accord Support

Our previous work to support VCSE engagement in health devolution came to an end in October. With our repositioning and a new accord developed between the VCSE sector and all GM public bodies we were able to develop a new area of work for the engagement team. Our work in this area is to facilitate the work of the GMVCSE Leadership Group on both Inclusive Economy and Inequalities. This includes hosting the Greater Manchester Equalities Alliance (GM=EqAl). The team will now work as a Policy & Research team.

4. Equality and diversity statement of intent

One of our core values is equality. The Board of GMCVO believes that all people are entitled to equal treatment and are of equal worth. We acknowledge diversity and difference and understand that equality requires accommodating the needs and preferences of individuals, creating a culture of understanding and respect, and actively challenging discrimination and prejudice. We seek to uphold these principles in all aspects of our work.

5. Meeting public benefit

The above activities are undertaken by GMCVO to further its charitable purposes for the public benefit. As charity trustees we have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission. The details of how we meet public benefit are set out above. Further narrative is provided in our Annual Review 2020.

6. Performance on securing resources

GMCVO was successful in securing or maintaining a wide range of grants and contracts and generating independent trading income - 50% of this (£1.9m) was passed on to other Greater Manchester organisations in the form of grants or sub-contracts.

6.1 Income sources

Excluding funding passed on to other organisations, income sources were as follows: -

----- Start of picture text -----
Income source 2020/21 2021/22
£ % £ %
Core funding (GMCA) 228,400 10.2 0 0.0
National funding body 39,539 1.8 74,622 3.9
Local government 24,149 1.1 433,694 22.6
Other local public sector 1,170,592 52.2 -4,237 -0.2
Earned income 433,749 19.3 594,909 31.0
Independent funders 342,514 15.3 815,838 42.6
Other 1,347 0.1 965 0.1
Total net funds 2,240,290 100 1,915,791 100
----- End of picture text -----

6.2 Financial review and results

Our total turnover for the year was £3.791m (2020/21 £3.765m). There was a surplus in unrestricted funds of £57k (2020/21 in-year surplus of £91k) and a surplus of £187k (2020/21 in-year surplus of £666k) in restricted funds, which means that the overall result was a surplus of £244k (2020/21 in-year surplus of £757k). Total funds carried forward at the end of 2021/22 were £2,082k (2020/21 £1,838k) comprising £409k (2020/21 £352k) of unrestricted reserves and £1,673k (2020/21 £1,486k) of restricted reserves.

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Trustees’ annual report (continued) Year ended 31 March 2022

The financial statements include group consolidated accounts, showing the contribution made by our subsidiary trading companies. Of our total expenditure we spent 83.8% (2020/21 85.5%) on direct chargeable activities in furtherance of our aims (including grants made to other organisations), 1.1% (2021/21 0.9%) on governance and 15.1% (2020/21 13.6%) on the cost of trading. This emphasises our commitment to our aims and objectives and provides evidence that our expenditure supports the achievement of our key objectives.

6.3 Subsidiary trading companies

Turnover in St Thomas Centre was £74k (2020/21 £10k). There was a deficit of £26k for the year (2020/21 £64k) St Thomas Centre was operating under covid restrictions at the start of 2021/22 with a gradual reopening from May 2021. Turnover picked up during the year and was higher than expected. Demand has been high since the start of 2022/23, and we are confident about the future income for St Thomas Centre. The challenge to the business in future is unlikely to come from reduced demand but rather from the uncertainty around costs, particularly energy.

Turnover in GMCVO Trading was £83k (2020/21 £57k) and £18k (2020/21 £15k) was contributed to Group reserves. This company is a vehicle for our contracted consultancy and research. It has minimal costs other than those associated with projects undertaken. We are confident about the future trading prospects of GMCVO Trading.

Turnover in Access to Growth GM was £411k (2020/21 £292k). The company achieved breakeven for the year (2020/21 in-year deficit of £8k). These results were in line with its business plan with bad debts well below budget. There remains a degree of uncertainty about the prospects of each investee due to current economic uncertainties. However, provisions for bad debts and defaults continue to remain within the parameters set for the fund and we are confident about the future trading prospects of Access to Growth GM.

Turnover in Access to Emergency Investment GM was £12k (2020/21 £50k). There was a deficit of £15k for the year (2020/21 £4k). These results were in line with its business plan. Repayments will commence during 2022/23. Providing debts and defaults remain within the parameters set for the fund, we are confident about the future trading prospects of Access to Emergency Investment GM.

GMCVO is continuing to provide financial support to the subsidiaries. GMCVO is not demanding repayment of intercompany debt within 12 months.

6.4 Financial sustainability

Until Covid-19, St Thomas Centre performed well and following the easing of all restrictions we are now seeing a strong recovery in trading. There are clear risks with a likely recession but previous experience in economic slowdowns suggests that this will be limited in impact. Of greater concern is the growing cost of energy with GMCVO needing to renew its contracts in February 2023. We are unclear what government support will be available in the next financial year although we have invested in energy efficiency measures in the Centre which may help mitigate rises. We would expect energy costs to reduce in time, restoring the ability of the Centre to generate a surplus but will keep activity under close review during the next financial year.

Our social investment business is still growing and is now the largest area of activity within the organisation with funding agreements in place for the medium term. There are risks for any investor in a recession and we have sought to reduce these by limiting the growth of new funds and ensuring we have additional staffing capacity to manage loan repayment and recovery.

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Trustees’ annual report (continued) Year ended 31 March 2022

Our core work is less stable than it has been in the past although we have strong projects in supporting partnership work with the public sector and are discussing future projects with commissioners that will extend our small grants activity for a further year and will develop new approaches to building the capacity of VCSE skills providers. We have also developed two new academic research partnerships. This will result in the core teams having the majority of their funding secured or in negotiation before the 23/24 financial year but with a need to allocate unfunded capacity to development work in order to develop projects within the year or for the subsequent year. The more significant risks are with the Work & Skills team and the viability of that work will be reviewed before the start of the next financial year.

6.5 Investment policy

The trustees have considered the most appropriate policy for investing funds and have found that a range of building society and bank deposit accounts meets their requirements. Day-today management of the organisation’s investment fund is delegated to the Finance Department.

6.6 Group reserves policy

The trustees take a risk-based approach to identifying the appropriate level of reserves that are required to be held that will give our partners and stakeholders’ confidence that the organisation is financially sound, whilst demonstrating we maximise the impact of our funds for the benefit of the customers and beneficiaries we serve. The Trustees concluded that the amount of unrestricted reserves required for the protection of the organisation’s core business will vary according to the number of staff employed and the associated contractual obligations, and the number of staff fully funded from project grants and contracts, as well as our requirements for development capacity. The level required is therefore set annually as part of the budgeting process.

Following a review on 2[nd] March 2022, the trustees resolved that GMCVO should seek to maintain a minimum reserve figure of £225k in unrestricted funds for the year 2022/23. The consolidated balance sheet shows reserves of £409k which are more than sufficient to meet its estimated liabilities, of these reserves £327k are regarded as free reserves, after allowing for designated reserves and funds tied up in tangible fixed assets.

The trustees note that levels of debt in the subsidiary social investment companies do not affect the viability of the parent charity, as the shares are subject to a covenant by the investor, requiring the investor to take the companies into ownership should they appear to be failing.

7. Going concern

GMCVO has passed through a significant year of transition to reposition itself as a leading voice in support of a more inclusive economy. The organisation has focused on its strengths and withdrawn from broader areas of work in order to build its reputation as a specialist in economic change. The ongoing financial and societal problems facing Greater Manchester people and organisations, along with major economic policy and public service transformation including the devolution deals in Greater Manchester, have created a very challenging environment for voluntary and community groups and for small businesses and social enterprises. Some can thrive but many cannot. The challenge for GMCVO is to ensure that we continue to deliver and to develop our role as an influential and strategic organisation.

The Board has considered the additional risks posed by the current economic challenges to GMCVO and its members and the implications for the prospects of the charity. The Covid crisis has in many ways highlighted the value of local organisations with strong reach into communities, especially more marginalised communities. Funders, commissioners and philanthropists have been generous and flexible under the circumstances. However, the

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Trustees’ annual report (continued) Year ended 31 March 2022

pandemic has left a legacy of poor health and increased demand for VCSE services. Whilst organisations may have been supported to get through the pandemic the reality is that an expansion of activity was needed.

This is unlikely to occur now and the current economic challenges are looking to create more significant risks to business than the pandemic did. Many organisations are seeing significant challenges in recruitment of skilled staff and inflation is having an impact on organisations unable to raise prices to cover costs and where grants and contracts have been agreed with lower expectations of inflation. Our research in the pandemic showed that over a third of organisations used reserves to self-fund services and previous sector surveys demonstrated reserves in organisations had been eroded over recent years. This will clearly restrict the ability of organisations to grow services to meet increasing demand for support. We are taking steps to mitigate all of these risks as far as possible.

The trustees have reviewed financial performance and future forecasts of GMCVO and its subsidiary trading companies at the meeting of 2nd November 2022 and concluded that they expect the charity and its subsidiary trading companies to continue operating and discharging their role across Greater Manchester for the foreseeable future. They therefore believe the organisation will be able to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. This assessment has been made after taking into account a range of information in respect of future income and costs, cash flow projections and the anticipated changes in the level of reserves, whilst recognising key strategic, operational and financial risks and uncertainties. There are not considered to be any material uncertainties relating to going concern.

8. Trustees' responsibilities statement

The trustees (who are also the directors of Greater Manchester Centre for Voluntary Organisation for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and the group

and of the incoming resources and application of resources, including income and expenditure, of the charitable group for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for the maintenance and integrity of the group’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The trustees are responsible for keeping adequate accounting records that are sufficient to

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Trustees’ annual report (continued) Year ended 31 March 2022

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 for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees delegate operational responsibility to the Chief Executive and senior managers, and consider there are adequate mechanisms in place to ensure overall control and the management of risks, including oversight by the Board and the F&P Committee.

Trustees’ statement of disclosure of information

Each of the persons who is a trustee at the date of approval of this report confirms that:

Signed by order of the trustees:

……………………………………………..………

Richard Dyson, Trustee (Vice Chair)

Dated:

1[st] December 2022

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Independent auditor's report to the members of Greater Manchester Centre for Voluntary Organisation Year ended 31 March 2022

Opinion

We have audited the financial statements of Greater Manchester Centre for Voluntary Organisation “the parent charitable company” and its subsidiaries ‘the group’ for the year ended 31 March 2022 which comprise the Consolidated and Parent Statement of Financial Activities, the Consolidated and Parent Balance Sheet, the Consolidated Cash Flow Statement and the related notes. 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 of Ireland” (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees (who are also the directors of the group and parent charitable company for the purposes of company law) are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Independent auditor's report to the members of Greater Manchester Centre for Voluntary Organisation Year ended 31 March 2022

Other information (continued)

In connection with our audit of the financial statements our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ annual report.

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

Responsibilities of directors

As explained more fully in the Trustees’ Responsibilities Statement set out on pages 10-11, the trustees (who are also the directors of the group and parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

14

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Independent auditor's report to the members of Greater Manchester Centre for Voluntary Organisation Year ended 31 March 2022

Auditor’s responsibilities for the audit of the financial statements

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

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

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

15

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Independent auditor's report to the members of Greater Manchester Centre for Voluntary Organisation Year ended 31 March 2022

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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

Use of our report

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

Sue Hutchinson (Senior Statutory Auditor)

For and on behalf of BEEVER AND STRUTHERS Statutory Auditor One Express 1 George Leigh Street Manchester M4 5DL

Date : 16/12/2022

16

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Consolidated statement of financial activities

(incorporating the income and expenditure account) Year ended 31 March 2022

Unrestricted
funds

Note
£
Income
Income from charitable
activities
Operation of the charity
2
134,653
Income
from
other
trading
activities
Other charity activities
3
7,698
Commercial trading
5
580,067
Other operating income
5
6,000
Investment income
4
965
Total income
729,383
Expenditure:
Expenditure of charitable
activities:
Operation of the charity
6
(64,982)
Costs of raising funds:
Other charity activities
7
(73,639)
Commercial trading
(534,423)
Total expenditure
(673,044)
Taxation
9
-
Net income and net
movement in funds
for the year
56,339
Transfers
-
Reconciliation of funds
Total funds brought
forward
352,425
Total funds carried
forward
408,764		 Restricted
funds
Total funds
2022
£
£
3,060,595
3,195,248
1,300
8,998
-
580,067
-
6,000
-
965
3,061,895
3,791,278
(2,874,650)
(2,939,632)
-
(73,639)
-
(534,423)
(2,874,650)
(3,547,694)
-
-
187,245
243,584
-
-
1,485,752
1,838,177
1,672,997
2,081,761		 Total funds
2021
£
3,326,284
17,559
410,035
10,000
1,347
3,765,225
(2,513,563)
(87,211)
(407,153)
(3,007,927)		 Total funds
2021
£
3,326,284
17,559
410,035
10,000
1,347
3,765,225
(2,513,563)
(87,211)
(407,153)
(3,007,927)		 Total funds
2021
£
3,326,284
17,559
410,035
10,000
1,347
3,765,225
(2,513,563)
(87,211)
(407,153)
(3,007,927)
-
757,298
-
1,080,879		 -
757,298
1,838,177

The statement of financial activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities.

The notes on pages 22 to 44 form part of these financial statements

17

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Parent statement of financial activities

(incorporating the income and expenditure account) Year ended 31 March 2022

Unrestricted
funds
Note
£
Income:
Income from charitable
activities:
Operation of the charity
2
134,653
Income from other trading
activities:
Other charity activities
3
77,333
Investment income
4
15,771
───────────────
───
Total income
227,757
___
Expenditure:
Expenditure on_
charitable activities:
Operation of the charity
6
(60,158)
Costs of raising funds:
Other charity activities
7
(73,639)
────────────────
───
Total expenditure
(133,797)
____
Net income and net
movement in funds for
the year
93,960
Transfers
-
Reconciliation of funds
Total funds brought forward
478,805
────────────────
Total funds carried forward
572,765
═══════════		 Restricted
funds
Total funds
2022
Total funds
2021
£
£
£
3,060,595
3,195,248
3,326,284
1,300
78,633
79,471
-
15,771
11,815
─────────────
────────────────
────────────────
3,061,895
3,289,652
3,417,570
___
___
___
(2,874,650)
(2,934,808)
(2,501,285)
-
(73,639)
(87,211)
─────────────
────────────────
────────────────
(2,874,650)
(3,008,447)
(2,588,496)
___
___
___
187,245
281,205
829,074
-
-
-
1,485,752
1,964,557
1,135,483
────────────
────────────
────────────────
1,672,997
2,245,762
1,964,557
═══════════
═══════════
═══════════

The statement of financial activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities.

The notes on pages 22 to 44 form part of these financial statements

18

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Consolidated balance sheet At 31 March 2022

2022 2022 2021
Note £ £ £
Fixed assets
Tangible assets 12 34,968 40,846
Current assets
Debtors 13 1,072,124 716,577
Debtors: amounts falling due after one year 13 1,433,468 1,518,313
Cash at bank and in hand 2,432,435 2,052,025
────────────── ─────────────
4,938,027 4,286,915
Creditors: amounts falling due within one
year 14 (1,833,644) (992,494)
────────────── ─────────────
Net current assets 3,104,383 3,294,421
───────────── ─────────────
Total assets less current liabilities 3,139,351 3,335,267
Creditors: amounts falling due after one year 15 (1,057,590) (1,497,090)
──────────── ────────────
Net assets 2,081,761 1,838,177
═══════════ ═══════════
Funds
Restricted income funds 16 1,672,997 1,485,752
Unrestricted income funds 17 408,764 352,425
──────────── ───────────
Total funds 2,081,761 1,838,177
═══════════ ═══════════

These financial statements were approved by the trustees and authorised for issue on 1[st] December 2022 and are signed on their behalf by:

……………………………………..……… …………………………………..………

Richard Dyson, Trustee (Vice Chair)

Thomas Berry, Trustee (Treasurer)

Company Registration Number: 1223344

The notes on pages 22 to 44 form part of these financial statements

19

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Parent balance sheet At 31 March 2022

2022 2022 2021
Note £ £ £
Fixed assets
Tangible assets 12 34,968 40,846
Investments 5 3 3
───────────── ─────────────
34,971 40,849
Current assets
Debtors 13 514,699 501,545
Cash at bank and in hand 2,158,150 1,683,625
───────────── ─────────────
2,672,849 2,185,170
Creditors: amounts falling due within one
year 14 (445,430) (261,462)
───────────── ─────────────
Net current assets 2,227,419 1,923,708
───────────── ─────────────
Total assets less current liabilities 2,262,390 1,964,557
Creditors: amounts falling due after one year 15 (16,628) -
──────────── ────────────
Net assets 2,245,762 1,964,557
═══════════ ═══════════
Funds
Restricted income funds 16 1,672,997 1,485,752
Unrestricted income funds 17 572,765 478,805
──────────── ────────────
Total funds 2,245,762 1,964,557
═══════════ ═══════════

These financial statements were approved by the trustees and authorised for issue on 1[st] December 2022 and are signed on their behalf by:

……………………………………..……… …………………………………..………

Richard Dyson, Trustee (Vice Chair)

Thomas Berry, Trustee (Treasurer)

Company Registration Number: 1223344

The notes on pages 22 to 44 form part of these financial statements

20

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Statement of cash flows and consolidated

statement of cash flows Year ended 31 March 2022

Net cash from operating
activities (see below)
Cash flows from investing
activities:
Purchase of tangible assets
Disposal of tangible assets
Cash provided by investing
activities
Increase in cash and cash
equivalent in the year
Cash and cash equivalents at
the beginning of the year
Total
cash
and
cash
equivalents at the end of the
year		 Group
2022
£
379,748
965
(17,694)
17,391
662
380,410
2,052,025
2,432,435		 Group
2021
£
754,713
1,347
-
-
1,347
756,060
1,295,965
2,052,025		 GMCVO
2022
£
459,057
15,771
(17,694)
17,391
15,468
474,525
1,683,625
2,158,150		 GMCVO
2021
£
592,492
11,815
-
-
11,815
604,307
1,079,318
1,683,625

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

Group
2022
£
Group
2021
£
GMCVO
2022
£
GMCVO
2021
£
Net surplus for the year
243,584
757,298
281,205
829,074
Add: Depreciation charge
6,181
15,854
6,181
15,854
Less: Interest income
(965)
(1,347)
(15,771)
(11,815)
(Increase)/decrease in debtors
(270,703)
(1,144,444)
(13,154)
(116,985)
(Decrease)/increase in
creditors
401,651
1,127,352
200,596
(123,636)
Net cash from operating
activities
379,748
754,713
459,057
592,492		 Group
2022
£
Group
2021
£
GMCVO
2022
£
GMCVO
2021
£
Net surplus for the year
243,584
757,298
281,205
829,074
Add: Depreciation charge
6,181
15,854
6,181
15,854
Less: Interest income
(965)
(1,347)
(15,771)
(11,815)
(Increase)/decrease in debtors
(270,703)
(1,144,444)
(13,154)
(116,985)
(Decrease)/increase in
creditors
401,651
1,127,352
200,596
(123,636)
Net cash from operating
activities
379,748
754,713
459,057
592,492		 Group
2022
£
Group
2021
£
GMCVO
2022
£
GMCVO
2021
£
Net surplus for the year
243,584
757,298
281,205
829,074
Add: Depreciation charge
6,181
15,854
6,181
15,854
Less: Interest income
(965)
(1,347)
(15,771)
(11,815)
(Increase)/decrease in debtors
(270,703)
(1,144,444)
(13,154)
(116,985)
(Decrease)/increase in
creditors
401,651
1,127,352
200,596
(123,636)
Net cash from operating
activities
379,748
754,713
459,057
592,492

592,492

The notes on pages 22 to 44 form part these financial statements

21

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

1. Accounting policies

Basis of accounting and assessment of going concern

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2019) – (Charities SORP (FRS 102)) and the Companies Act 2006. The charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.

The trustees have, at the time of approving the financial statements, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparation of the financial statements.

Group financial statements

These financial statements consolidate the results of the charity and its wholly owned subsidiaries at 31 March 2022 for St Thomas Centre Ltd, Access to Emergency Investment Limited, Access to Growth GM Limited and GMCVO Trading Ltd on a line-by-line basis.

The subsidiaries’ financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

A separate statement of financial activities, or income and expenditure account for the charity itself is included in accordance with Charities SORP (FRS 102).

Going concern

The trustees have reviewed financial performance and future forecasts of GMCVO and its subsidiary trading companies at the meeting of 2nd November 2022 and concluded that they expect the charity and its subsidiary trading companies to continue operating and discharging their role across Greater Manchester for the foreseeable future. They therefore believe the organisation will be able to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. This assessment has been made after taking into account a range of information in respect of future income and costs, cash flow projections and the anticipated changes in the level of reserves, whilst recognising key strategic, operational and financial risks and uncertainties. There are not considered to be any material uncertainties relating to going concern.

Tangible fixed assets

Individual fixed assets costing £1,000 or more are capitalised at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:-

22

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

1. Accounting policies (continued)

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of twelve months or less from the date of acquisition or opening of the deposit account or similar account.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.

Pension costs

The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the statement of financial activities.

Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. Income from government and other grants, whether ‘capital’ or ‘revenue’ grants, are recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred.

Income received in advance of events, courses or other relevant activities is deferred until the criteria for income recognition are met.

Loan interest receivable within Access to Growth GM Limited is classified as turnover as it is the company’s key operating income. In Group accounts this is included within income from commercial trading. This also includes certain loan capital repayments taken as income, but only where the funding agreement allows this to cover running costs, in advance of subsequent funding to be received.

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

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

23

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

1. Accounting policies (continued)

All expenditure is accounted for on an accruals basis. All expenses including raising funds and charitable activities costs are allocated or apportioned to the applicable expenditure headings.

The expenditure on charitable activities includes all costs associated with projects undertaken to further the purposes of the charity.

The costs of raising funds comprises of the costs to hold events and courses at the St Thomas Centre and the commercial trading expenditure of each subsidiary.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, finance and governance costs.

Taxation

The company is a registered charity and as such is entitled to the exemption from tax to the extent that the income received falls within section 505 ICTA 1988 and section 256 CGTA 1992 and is applied to charitable purposes only.

Trading subsidiaries are liable to tax if taxable profit exceeds donations to the parent company

Fund accounting

Funds held by the charity are either:-

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements in conformity with FRS 102 requires the use of certain critical accounting estimates. It can also require the trustees to exercise their judgement in the process of applying the charity's accounting policies. The charity is not considered to have any critical accounting estimates or judgements at this time.

2. Income from charitable activities

Consolidated and GMCVO 2022

Grants receivable
Other income		 Unrestricted
Funds
Restricted
Funds
Total
2022
£
£
£
134,653
3,060,416
3,195,069
-
179
179
134,653
3,060,595
3,195,248

24

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

Consolidated and GMCVO 2021

Consolidated and GMCVO 2021
Grants receivable
Other income		 Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
295,618
3,030,512
3,326,130
-
154
154
295,618
3,030,666
3,326,284

3. Income from other trading activities – other charity activities Consolidated 2022

Income from other trading activities – other
Consolidated 2022		 charity activities charity activities
Room rental
Other income
Consolidated 2021
Room rental
Other income
GMCVO 2022
Room rental
Other income
GMCVO 2021
Room rental
Other income		 Unrestricted
Funds
Restricted
Funds
Total
2022
£
£
£
3,813
-
3,813
3,885
1,300
5,185
7,698
1,300
8,998
Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
6,541
-
6,541
10,068
950
11,018
16,609
950
17,559
Unrestricted
Funds
Restricted
Funds
Total
2022
£
£
£
73,448
-
73,448
3,885
1,300
5,185
77,333
1,300
78,633		 Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
6,541
-
6,541
10,068
950
11,018
16,609
950
17,559
Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
68,453
-
68,453
10,068
950
11,018
78,521
950
79,471

25

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

4. Investment income

Investment income
Consolidated Unrestricted Total Total
Funds Funds Funds
2022 2021
£ £ £
Bank and loan interest receivable 965 965 1,347
GMCVO Unrestricted Total Total
Funds Funds Funds
2022 2021
£ £ £
Income from UK group undertakings 14,806 14,806 10,468
Other income 965 965 1,347
15,771 15,771 11,815

26

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

5. Commercial trading operations

The charity owns the whole of the issued share capital of St Thomas Centre Limited, Access to Growth GM Limited and Access to Emergency Investment Limited being 1 ordinary share of £1 respectively. The charity also owns GMCVO Trading Ltd which is also a company limited by guarantee with no share capital. All companies have 31[st] March year ends and are incorporated in England.

A summary of the trading results for 2022 is shown below:

----- Start of picture text -----
Access to St Thomas GMCVO Access to Total
Emergency Centre Trading Growth
Investment £ £ £ £
£
Turnover 12,000 73,822 82,939 411,306 580,067
Other operating income 6,000 6,000
Cost of sales - (7,578) - - (7,578)
Administrative expenses (12,000) (98,566) (50,076) (387,746) (548,388)
-
Operating surplus/(deficit) (26,322) 32,863 23,560 30,101
- -
Interest payable (14,550) (23,560) (38,110)
Gift aid paid in respect of prior
year - - (14,806) - (14,806)
Retained in the subsidiaries (14,550) (26,322) 18,057 - (22,815)
The assets and liabilities of Access to St Thomas GMCVO Access to Total
the subsidiaries were: Emergency Centre Trading Growth
Investment £ £ £ £
£
Current assets 815,923 24,559 108,774 624,263 1,573,519
- - -
Debtors due after one year 925,135 925,135
Creditors due within one year (406,854) (114,526) (90,717) (1,009,593) (1,621,690)
- -
Creditors due after one year (427,752) (613,210) (1,040,962)
Total net assets (18,683) (89,967) 18,057 (73,405) (163,998)
A summary of the trading results for 2021 is shown below:
Access to St Thomas GMCVO Access to Total
Emergency Centre Trading Growth
Investment £ £ £ £
£
Turnover 50,000 10,490 57,325 292,220 410,035
Other operating income 10,000 10,000
Cost of sales - (394) - - (394)
Administrative expenses (50,000) (76,781) (39,012) (289,051) (454,844)
-
Operating surplus/(deficit) (56,685) 18,313 3,169 (35,203)
- -
Interest payable (4,134) (11,503) (15,637)
Gift aid paid in respect of prior - (6,961) (3,507) - (10,468)
year
Retained in the subsidiaries (4,134) (63,646) 14,806 (8,334) (61,308)
The assets and liabilities of Access to St Thomas GMCVO Access to Total
the subsidiaries were: Emergency Centre Trading Growth
Investment £ £ £ £
£
Current assets 744,303 19,611 60,204 639,138 1,463,256
- - -
Debtors due after one year 793,313 793,313
Creditors due within one year (265,086) (83,256) (45,398) (492,116) (885,856)
- -
Creditors due after one year (483,350) (1,013,740) (1,497,090)
Total net assets (4,133) (63,645) 14,806 (73,405) (126,377)
----- End of picture text -----

27

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

6. Analysis of expenditure on charitable activities

Consolidated
Direct cost
of activities
£
Support
costs
£
Governance
costs
£
Salaries and other staff costs
702,912
147,468
-
Project costs
46,177
4,046
-
Payment to partners
1,875,488
-
-
Running costs
170,100
(180,179)
-
Communications
9,864
1,938
-
Meeting costs
29,304
822
-
Marketing
3,052
410
-
Audit and accountancy
-
-
24,060
Professional fees
-
-
14,405
Other expenses
66,605
23,160
-
2,903,502
(2,335)
38,465
GMCVO
Direct cost
of activities
£
Support
costs
£
Governance
costs
£
Salaries and other staff costs
702,912
147,468
-
Project costs
46,177
4,046
-
Payment to partners
1,875,528
-
-
Running costs
170,100
(180,179)
-
Communications
9,865
1,938
-
Meeting costs
36,963
822
-
Marketing
3,052
410
-
Audit and accountancy
-
-
11,842
Professional fees
-
-
14,180
Other expenses
66,524
23,160
-
2,911,121
(2,335)
26,022		 Total
2022
£
850,380
50,223
1,875,488
(10,079)
11,802
30,126
3,462
24,060
14,405
89,765
2,939,632
Total
2022
£
850,380
50,223
1,875,528
(10,079)
11,803
37,785
3,462
11,842
14,180
89,684
2,934,808

28

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

6. Analysis of expenditure on charitable activities (continued)

Consolidated
Salaries and other staff costs
Project costs
Payment to partners
Running costs
Travel expenses
Communications
Meeting costs
Marketing
Audit and accountancy
Professional fees
Other expenses
GMCVO
Salaries and other staff costs
Project costs
Payment to partners
Running costs
Travel expenses
Communications
Meeting costs
Marketing
Audit and accountancy
Professional fees
Other expenses		 Direct cost
of activities
£
589,435
47,986
1,524,935
70,635
117
8,631
31,382
1,766
-
-
78,431
2,353,318
Direct cost
of
£
589,435
47,986
1,524,935
70,635
117
8,631
31,739
1,766
-
-
79,241
2,354,485		 Support
costs
£
Governance
costs
£
221,966
-
-
-
-
-
(123,111)
-
12
-
2,671
-
158
-
1,371
-
-
20,672
3,411
4,063
29,032
-
135,510
24,735
Support
costs
£
Governance
costs
£
221,966
-
-
-
-
-
(123,111)
-
12
-
2,671
-
158
-
1,371
-
-
10,180
3,411
1,111
29,032
-
135,510
11,291		 Total
2021
£
811,401
47,986
1,524,935
(52,476)
129
11,302
31,540
3,137
20,672
7,474
107,463
2,513,563
Total
2021
£
811,401
47,986
1,524,935
(52,476)
129
11,302
31,897
3,136
10,180
4,522
108,273
2,501,285

29

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

7. Analysis of costs of raising funds – other charity activities

Consolidated
Conference
centre hire
£
Consultancy
£
Other
activities
£
Governance
costs
£
Salaries and other
staff costs
20,839
-
646
-
Running costs
47,575
-
-
-
Communications
515
-
8
-
Meeting costs
174
-
-
-
Professional fees
136
-
-
-
Other expenses
3,746
-
-
-
72,985
-
654
-
GMCVO
Conference
centre hire
£
Consultancy
£
Other
activities
£
Governance
costs
£
Salaries and other
staff costs
20,839
-
646
-
Running costs
47,575
-
-
-
Communications
515
-
8
-
Meeting costs
174
-
-
-
Professional fees
136
-
-
-
Other expenses
3,746
-
-
-
72,985
-
654
-
Consolidated
Conference
centre hire
£
Consultancy
£
Other
activities
£
Governance
costs
£
Salaries and other
staff costs
43,021
-
843
-
Running costs
37,175
-
-
-
Communications
941
-
7
-
Meeting costs
97
-
-
-
Professional fees
198
-
-
-
Other expenses
4,929
-
-
-
86,361
-
850
-
GMCVO
Conference
centre hire
£
Consultancy
£
Other
activities
£
Governance
costs
£
Salaries and other
staff costs
43,021
-
843
-
Running costs
37,175
-
-
-
Communications
941
-
7
-
Meeting costs
97
-
-
-
Professional fees
198
-
-
-
Other expenses
4,929
-
-
-
86,361
-
850
-		 Total
2022
£
21,485
47,575
523
174
136
3,746
73,639
Total
2022
£
21,485
47,575
523
174
136
3,746
73,639
Total
2021
£
43,864
37,175
948
97
198
4,929
87,211
Total
2021
£
43,864
37,175
948
97
198
4,929
87,211

30

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

8. Governance costs

Consolidated 2022

Audit and other fees
Legal and professional
Consolidated 2021
Audit and other fees
Legal and professional
GMCVO 2022
Audit and other fees
Legal and professional
GMCVO 2021
Audit and other fees
Legal and professional		 Unrestricted
Funds
Restricted
Funds
Total
2022
£
£
£
24,060
-
24,060
3,019
11,523
14,542
27,079
11,523
38,602		 Unrestricted
Funds
Restricted
Funds
Total
2022
£
£
£
24,060
-
24,060
3,019
11,523
14,542
27,079
11,523
38,602
Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
20,672
-
20,672
3,023
1,040
4,063
23,695
1,040
24,735
Unrestricted
Funds
Restricted
Funds
Total
2022
£
£
£
11,842
-
11,842
2,793
11,523
14,316
14,635
11,523
26,158		 Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
20,672
-
20,672
3,023
1,040
4,063
23,695
1,040
24,735
Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
10,180
-
10,180
71
1,040
1,111
10,251
1,040
11,291

Audit fees and legal and professional fees are all directly attributable to governance.

31

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

9. Taxation

The charity is exempt from tax but the trading subsidiaries are eligible to pay corporation taxation on any taxable profits in excess of those donated to the parent charitable company.

The Group has paid £nil in corporation tax in 2022 (2021: £Nil).

10. Net income for the year

This is stated after charging:

2022 2021
£ £
Staff pension contributions 51,600 52,071
Depreciation 6,181 15,854
Auditors' fees (statutory audit) 11,842 10,180
═══════ ═══════

In addition to the above for the year ending 31 March 2022: £4,100(2021: £3,977) was due to the Auditors for accounts preparation services and £1,728 (2021: £1,676) for taxation services.

11. Staff costs and emoluments

Total staff costs were as follows:-

Consolidated 2022 2021
£ £
Salaries 917,921 891,633
Social security costs 83,791 79,924
Other pension costs 61,989 62,925
──────── ───────
1,063,701 1,034,482
═══════ ═══════
GMCVO 2022 2021
£ £
Salaries 744,335 737,309
Social security costs 69,923 65,885
Other pension costs 51,600 52,071
─────── ───────
865,858 855,265
═══════ ═══════

Staff costs were charged to the subsidiaries during the year.

Particulars of employees:

The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows:

equivalents, was as follows:
2022 2021
No No
Number of other staff - provision of services 33 35
════ ════

32

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements

Year ended 31 March 2022

11. Staff costs and emoluments (continued)

Key Management Personnel

The total staff costs for the three senior executives of GMCVO - the Chief Executive, Director of Development and Finance Manager - totalled:

2022 2021
£ £
196,898 147,087
═════ ═════

No employee received remuneration of more than £60,000 during the year. No emoluments were paid to the Trustees during the year.

Trustees were reimbursed a total of £Nil (2021: £Nil) for expenses during the year.

12. Tangible fixed assets

Consolidated and GMCVO Property Furniture & Computer
improvements fittings equipment Total
£ £ £ £
Cost
At 1st April 2021 122,249 113,952 16,119 252,319
Additions 9,397 8,297 - 17,694
Disposals (17,391) - - (17,391)
────── ────── ────── ─────
At 31st March 2022 114,255 122,249 16,119 252,622
══════ ══════ ══════ ═════
Depreciation
At 1st April 2021 101,432 94,996 15,045 211,473
Charge for the year 4,036 18,731 805 23,572
Eliminated on disposal (17,391) - - (17,391)
────── ───── ────── ──────
At 31st March 2022 88,077 113,727 15,850 217,654
══════ ═════ ══════ ══════
Net book value
At 31st March 2022 26,178 8,522 269 34,968
══════ ═════ ══════ ══════
At 31st March 2021 20,817 18,956 1,074 40,846
══════ ═════ ══════ ══════

33

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

13. Debtors

Debtors
Consolidated GMCVO
2022 2021 2022 2021
£ £ £ £
Trade debtors 1,457,325 2,122,707 169,557 314,442
Amounts owed by group
undertakings - - 233,090 154,440
Other debtors and prepayments 123,132 112,183 112,052 32,663
─────── ─────── ────── ──────
1,580,457 2,234,890 514,699 501,545
═══════ ═══════
 ══════ ══════

Included in the consolidated trade debtors is an amount of £1,433,468 (2021: £793,313) which is receivable in greater than one year.

14. Creditors: amounts falling due within one year

Consolidated Consolidated GMCVO GMCVO
2022 2021 2022 2021
£ £ £ £
Trade creditors 112,403 154,240 107,556 153,370
Other borrowings 817,203 - 173,372 -
Taxation and social security 36,810 26,941 31,828 21,035
Accruals and deferred income 804,416 695,068 80,871 74,974
Deferred income 53,656 57,583 42,854 11,007
Interest payable - 57,530 - -
Other creditors 9,156 1,132 8,949 1,076
─────── ────── ────── ──────
1,833,644 992,494 445,430 261,462
═══════ ══════ ══════ ══════

Group deferred income movements being: £57,583 brought forward, £49,416 released in the year, £45,489 added with a closing balance of £53,656.

GMCVO deferred income movements being: £11,007 brought forward, £12,729 released in the year, £44,576 added with a closing balance £42,854.

15. Creditors: amounts falling due in more than one year

Consolidated Consolidated GMCVO GMCVO
2022 2021 2022 2021
£ £ £ £
Other borrowings 1,057,590 1,497,090 16,628 –
─────── ─────── ─────── ───────
1,057,590 1,497,090 16,628 –
═══════ ═══════ ═══════ ═══════

Other borrowings comprise:

A loan of £1,151,443 from Big Society Capital Limited received by Access to Growth GM Limited to assist the company in providing loans to charities and social enterprises. The interest rate was 0% for the 6 months to 30[th] September 2020 and 2% per annum thereafter.

Since the year end the repayments have commenced.

34

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

15. Creditors: amounts falling due in more than one year (continued)

A loan of £533,350 from Greater Manchester Combined Authority received by Access to Emergency Investment (GM) to assist the company in providing its own loans to charities and social enterprises. Interest is charged at 3% per annum. Repayments are due to commence no later than 2 years after the initial drawdown date of 14 October 2020.

A Resilience and Recovery loan of £190,000 from Social Investment Business. Interest is charged at 9% in year one and 7% in subsequent years and is repayable over 5 years.

16. Restricted income funds

----- Start of picture text -----
Balance at Incoming Outgoing Balance at
1 April 2021 resources resources Transfers 31 March 2022
£ £ £ £ £
AddVentures - Lifted 9,157 28,644 (36,055) - 1,746
(Caring)
AddVentures - MAP - - - - 0
AddVentures - MAP - 1,393 - - - 1,393
Reach Fund
AddVentures - Benefits 456 - - - 456
Owl
-
Ambition for Ageing 30,113 714,315 (717,758) 26,670
-
Big Alcohol Conversation 14,595 39,600 (350) 53,845
Comic Relief BAME 62,923 7,000 (69,257) - 666
Grants
Connect Fund - Covid - 75,000 (75,000) - 0
Recovery Support
- -
Connecting GM BAME 18,370 (13,621) 4,749
Entrepreneurs To Social
Investment 2
-
Connecting GM BAME 29,481 43,594 (59,825) 13,250
Entrepreneurs To Social
Investment 3
- -
Trauma Responsive 181,380 (75,788) 105,592
Communities VCSE
Grants
- -
Connecting GM BAME 44,000 (31,968) 12,032
Entrepreneurs To Social
Investment 3 (Investment
Research)
Case Studentship (ESRC) - 7,337 (7,337) - 0
- -
GM Cancer Inequalities 79,601 (19,084) 60,517
GM Funders Forum 17,320 - (17,320) - 0
----- End of picture text -----

35

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements

Year ended 31 March 2022

16. Restricted income funds (continued)

----- Start of picture text -----
Balance at Incoming Outgoing Balance at
1 April 2021 resources resources Transfers 31 March 2022
£ £ £ £ £
-
GM Mental Wellbeing 73,554 250,000 (126,574) 196,980
GM Moving 66,322 2,500 (68,822) - 0
- -
GM Equality Alliance 54,924 1,162 56,086
- -
Covid Community 60,000 (54,196) 5,804
Champions Grant
GM 2400 Microgrants - 12,000 (12,000) - 0
- -
Community Renewal Fund 300,222 (185,160) 115,062
(Hidden Talent)
Urgent and Emergency - 25,080 (25,080) - 0
Care Comms Grants
Health and Social Care 210,732 - (210,732) - 0
Hidden Talent (NLCF) 3,554 67,131 (70,685) - 0
- - -
Leading In GM 11,872 11,872
-
Local Access Programme 27,372 464,100 (89,697) 401,775
- Development
Maternal MH VCSE 320,612 1,840 (291,251) - 31,201
Capacity Building
VCSE Mental Health 461,068 101,086 (327,112) - 235,042
Surge Funding
- -
GM NHS System 259,000 (65,000) 194,000
Development Funding
VCSE MH Winter 73,321 - (73,321) - 0
Discharge Funding
Local Access Programme - 39,000 (39,000) - 0
- Investment
- -
IAPT (Improving Access 85,878 (51,049) 34,829
To Psychological
Therapies)
- -
GM H&SC Partnership 18,928 (488) 18,440
Support
NLCF Covid Support 10,128 - (10,128) - 0
VCS EP Local Liaison - 4,750 (4,750) - 0
Lead (NAVCA)
VCSE Accord - 39,985 (1,687) - 38,298
Implementation
VCSE Mental Health 43,409 55,000 (45,717) - 52,692
Leadership
─────── ─────── ─────── ─────── ───────
-
1,485,752 3,061,895 (2,874,650) 1,672,997
═══════ ═══════ ═══════ ═══════ ═══════
----- End of picture text -----

36

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

16. Restricted income funds (continued)

----- Start of picture text -----
AddVentures - Lifted Respite for parents of adult children with illness or disability.
(Caring)
AddVentures - MAP Support for young people at risk.
AddVentures - MAP - Additional ring-fenced funding for the AddVentures MAP project.
Reach Fund
AddVentures - Benefits Training for community organisers.
Owl
Ambition for Ageing Working in 24 Greater Manchester neighbourhoods and at strategic
level to reduce social isolation in older people and create age friendly
communities including BAME communities.
Big Alcohol Conversation Consultation with the public through VCSE groups on reducing alcohol
related harms in Greater Manchester.
Comic Relief BAME Partnership with GM BAME Network to distribute grants to BAME-led
Grants VCSE groups in Greater Manchester on behalf of Comic Relief.
Connect Fund - Covid Funding to support the organisation to help to recover from the effects
Recovery Support of the pandemic.
Connecting GM BAME Research into the barriers faced by BAME entrepreneurs.
Entrepreneurs To Social
Investment 2
Connecting GM BAME Enabling the GM BAME Social Enterprise Network to evolve further and
Entrepreneurs To Social to constitute.
Investment 3
Trauma Responsive Strategic grants programme to upskill VCSE organisations to develop
Communities VCSE trauma informed and responsive communities across Greater
Grants Manchester.
Connecting GM BAME Additional ring-fenced funding for the research into the barriers faced by
Entrepreneurs To Social BAME entrepreneurs.
Investment 3 (Investment
Research)
Case Studentship Exploring the relational nature of VCSE activity.
(ESRC)
GM Cancer Inequalities Working with community organisations addressing inequalities to
identify barriers to reporting and diagnosis of cancer.
GM Funders Forum Developing and hosting regular meetings for public and independent
funders providing grants to VCSE organisations.
GM Mental Wellbeing Grants programme for community organisations to provide activities to
enhance mental wellbeing of marginalised people.
GM Moving Small grants programme for VCSE organisations to encourage people
to walk.
GM Equality Alliance To support and link GM=EqAl to the VCSE Accord implementation plan.
----- End of picture text -----

37

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

16. Restricted income funds (continued)

----- Start of picture text -----
Covid Community To tailor and target the “safely living with COVID-19” campaign to
Champions Comms reach specific priority audiences of higher covid risk/lower public
Grants messaging engagement.
GM 2YOO Microgrants Small grants for Bangladeshi and/or Pakistani led VCSE organisations
to support the promotion of free early education to their communities.
Community Renewal Supporting young people not in education, employment or training to
Fund (Hidden Talent) improve their ability to take on work.
Urgent and Emergency Small grants to generate responses to the 'Winter Pressures' survey
Care Comms Grants which was co-created by GMCVO and GMICP.
Health and Social Care Enabling VCSE organisations to be involved in GM Health and Social
Care devolution through a formal memorandum of understanding.
Hidden Talent (NLCF) Bringing 'hidden' people towards employment, gaining insight into how
best to reach and support this group. 'Hidden' young people are those
not claiming welfare benefits and not receiving public services.
Leading In GM Events and peer learning for public and VCSE leaders together.
Local Access Development funding to support social enterprise in four boroughs of
Programme - Greater Manchester.
Development
Maternal MH VCSE Passing funding to organisations to provide support to maternal
Capacity Building mental health.
VCSE Mental Health Passing funding to organisations providing mental health support to
Surge Funding increase the number of people they can help.
GM NHS System Passing GM MH Community Transformation funds onto VCSE
Development Funding organisations to support the Living Well programme.
VCSE MH Winter Passing funding to organisations who can help resettle people after a
Discharge Funding hospital stay.
Local Access Funding to support the rollout of a social investment programme in
Programme - Investment four boroughs of Greater Manchester.
IAPT (Improving Access Supporting staff in VCSE organisations to develop accredited skills
To Psychological enabling them to provide more complex support services.
Therapies)
GM H&SCP Support Providing support to the GM Health and Social Care Partnership.
NLCF Covid Support Support for GMCVO, St Thomas Centre and the GM BAME Network
to remain sustainable during lockdown.
VCS EP Local Liaison Passing information about the impact of covid to and from Greater
Lead (NAVCA) Manchester and national.
----- End of picture text -----

38

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

16. Restricted income funds (continued)

VCSE Accord
Implementation		 To review and assess VCSE engagement in Greater Manchester
Combined Authority activity and support Inclusive Economy and
subgroup.
VCSE Mental Health
Leadership		 Support for the VCSE Mental Health Leaders group and network.

17. Unrestricted income funds 2022 and 2021

Consolidated

Consolidated
Balance at Incoming Outgoing Balance at
1 Apr 2021 resources resources Transfers 31 Mar 2022
£ £ £ £ £
St Thomas
Centre sinking
fund 5,000 - - - 5,000
St Thomas
Centre
Lift 20,817 - (3,084) - 17,733
SIB asset fund - 60,000 (952) 59,048
General Funds 326,608 669,383 (669,008) - 326,983
────────────────────────────────────────
352,425 729,383 (673,044) - 408,764
═══════ ═══════ ═══════ ═══════ ═══════
Balance at Incoming Outgoing Balance at
1 Apr 2020 resources resources Transfers 31 Mar 2021
£ £ £ £ £
St Thomas
Centre sinking
fund 22,054 - - (17,054) 5,000
St Thomas
Centre
Lift 23,901 - (3,084) - 20,817
General Funds 214,788 733,609 (638,843) 17,054 326,608
────────────────────────────────────────
260,743 733,609 (641,927) - 352,425
═══════ ═══════ ═══════ ═══════ ═══════

The sinking fund is an amount put aside by the trustees to cover their obligations for major internal repairs in accordance with the lease.

39

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

Parent

Parent
Balance at Incoming Outgoing Balance at
1 Apr 2021 resources resources Transfers 31 Mar 2022
£ £ £ £ £
St Thomas
Centre sinking
fund 5,000 - - - 5,000
St Thomas
Centre
Lift 20,817 - (3,084) - 17,733
SIB asset fund - 60,000 (952) 59,048
General Funds 452,988 167,757 (129,761) - 490,984
────────────────────────────────────────
478,805 227,757 (133,797) - 572,765
═══════ ═══════ ═══════ ═══════ ═══════
Balance at Incoming Outgoing Balance at
1 Apr 2020 resources resources Transfers 31 Mar 2021
£ £ £ £ £
St Thomas
Centre sinking
fund 22,054 - - (17,054) 5,000
St Thomas
Centre
Lift 23,901 - (3,084) - 20,817
General Funds 269,392 385,954 (219,412) 17,054 452,988
────────────────────────────────────────
315,347 385,954 (222,496) - 478,805
═══════ ═══════ ═══════ ═══════ ═══════

40

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

18. Analysis of net assets between funds 2022 and 2021

Consolidated

Consolidated
Debtors
Creditors
Tangible falling due
falling due
fixed Net current after one
after one
assets assets year year Total 2022
£ £ £ £ £
Restricted income funds - 1,672,997 - - 1,672,997
Unrestricted income funds:
Designated funds 17,733 64,048 - - 81,781
General funds 17,235 (66,130) **1,433,468 ** (1,057,590) 326,983
─────────────────────────────────────
Total Funds 34,968 **1,670,915 ** 1,433,468 (1,057,590) 2,081,761
═══════ ═════════════════════ ═══════
Debtors
Creditors
Tangible falling due
falling due
fixed Net current after one
after one
assets assets year year Total 2021
£ £ £ £ £
Restricted income funds - 1,485,752 - - 1,485,752
Unrestricted income funds:
Designated funds 23,901 17,554 - - 41,455
General funds 16,945 997,802 793,313 (1,497,090) 310,970
─────────────────────────────────────
Total Funds 40,846 2,501,108 793,313 (1,497,090) 1,838,177
═══════ ═════════════════════ ═══════
Parent
Debtors
Creditors
Tangible falling due
falling due
fixed Net current after one
after one
assets assets year year Total 2022
£ £ £ £ £
Restricted income funds - 1,672,997 - - 1,672,997
Unrestricted income funds:
Designated funds 17,733 64,048 - - 81,781
General funds 17,238 490,374 - (16,628) 490,984
─────────────────────────────────────
Total Funds 34,971 2,227,419 - (16,628) 2,245,762
═══════ ═════════════════════ ═══════

41

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

Debtors
Creditors
Tangible falling due
falling due
fixed Net current after one
after one
assets assets year year Total 2021
£ £ £ £ £
Restricted income funds - 1,485,752 - - 1,485,752
Unrestricted income funds:
Designated funds 23,901 17,554 - - 41,455
General funds 16,948 420,402 - - 437,350
─────────────────────────────────────
Total Funds 40,849 1,923,708 - - 1,964,557
═══════ ═════════════════════ ═══════

19. Analysis of changes in net debt

Consolidated

Consolidated
At 1 April At 31 March
2021 Cashflow 2022
£ £ £
Cash at bank 2,052,025 380,410 2,432,435
Loans falling due after one
year (1,497,090) 439,140 (1,057,950)
──────── ────── ───────
Total Funds 554,935 819,550 1,374,485
═══════ ══════ ═══════

42

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Notes to the financial statements Year ended 31 March 2022

20. Related party transactions

Mrs P Butler and Miss K Cheetham are directors of St Thomas Centre Limited, a company which is controlled by GMCVO. During the year GMCVO charged rent to St Thomas Centre.

Mrs P Butler and Mr R Dyson are directors of Access to Growth Limited, a company which is controlled by GMCVO.

Mr T Berry and Mr R Dyson are directors of GMCVO Trading Limited, a company which is controlled by GMCVO. GMCVO received a payment under gift aid from GMCVO Trading Limited.

Mrs P Butler and Mr R Dyson are directors of Access to Growth (GM) Limited and Access to Emergency Investment (GM) Limited, companies which are controlled by GMCVO.

Atia Chaudry was a director of GMCVO and a director of Equal Access Consultancy Limited and Chair of Manchester BME Network. Trading and year end balances with Equal Access Consultancy were Income £Nil (2021: £Nil), Expenditure £10,700 (2021: £12,400), Debtor £Nil (2021: £Nil), Creditor £Nil (2021: £5,000). Trading and year end balances with Manchester BME Network were Income £1,625 (2021: £1,326); Expenditure £2,144 (2021: £39,740); Debtor £415 (2021: £Nil); Creditor £Nil (2021: £600).

Related party transactions relating to the subsidiary companies controlled by GMCVO were as follows:

as follows:
Income Debtor Expenditure Creditor
2022 2022 2022 2022
£ £ £ £
St Thomas Centre Limited 61,555 106,928 7,630 -
Access to Emergency - 1,808 - -
Investment Limited
Access to Growth Limited - 47,387 - -
GMCVO Trading Limited - 76,967 - -

The above does not include gift aid £14,806 (2021: £10,468) was received by the charity as follows:

GMCVO Trading Limited £14,806 (2021: £3,507) St Thomas Centre Limited £Nil (2021: £6,961)

Income Debtor Expenditure Creditor
2021 2021 2021 2021
£ £ £ £
St Thomas Centre Limited 68,516 79,450 357 -
Access to Emergency - 16,393 - -
Investment Limited
Access to Growth Limited - 22,388 - -
GMCVO Trading Limited 3,507 36,208 - -

43

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Detailed statement of financial activities Year ended 31 March 2022

Income
Income from charitable activities:
Operation of the charity
Investment income:
Income from UK group undertakings
Bank and loan interest receivable
Income from other trading activities:
Room rental
Other income
Trading income:
Other operating income
Commercial trading
TOTAL INCOME		 Consolidated
2022
£
2021
£
3,195,248
3,326,284
-
-
965
1,347
965
1,347
3,813
6,541
5,185
11,018
8,998
17,559
6,000
10,000
580,067
410,035
3,791,278
3,765,225		 GMCVO
2022
£
2021
£
3,195,248
3,326,284
14,806
10,468
964
1,347
15,770
11,815
73,448
68,453
5,185
11,018
78,633
79,471
-
-
-
-
3,289,651
3,417,570		 GMCVO
2022
£
2021
£
3,195,248
3,326,284
14,806
10,468
964
1,347
15,770
11,815
73,448
68,453
5,185
11,018
78,633
79,471
-
-
-
-
3,289,651
3,417,570
10,468
1,347
11,815
68,453
11,018
79,471
-
-
3,417,570

This page does not form part of the audited financial statements.

44

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Detailed statement of financial activities Year ended 31 March 2022

Expenditure:
Salaries
Pension costs
Computer and IT costs
Insurance
Running costs
Motor, travel and accommodation
costs
Telephone and website
Printing, postage and stationery
Sundry expenses
Depreciation
Consultancy
Recruitment costs
Publicity and marketing
Subscription and books
Staff training
Capital costs
Bank charges
Meeting costs
Bad debts
Project costs
Payments to partner organisations
Trading expenditure:
Cost of sales
Administrative expenses		 Consolidated
2022
£
2021
£
820,267
803,194
51,600
52,071
16,364
18,103
5,466
5,613
26,258
(15,301)
978
129
12,325
12,250
1,478
2,261
1,865
1,572
15,274
15,854
44,178
55,964
1,662
100
3,462
3,138
1,353
3,716
1,803
3,293
13,695
6,579
170
144
30,300
31,637
460
(810)
50,223
47,986
1,875,488
1,524,935
2,974,669
2,572,428
7,578
394
526,845
406,759
534,423
407,153		 GMCVO
2022
£
2021
£
820,267
803,194
51,600
52,071
16,364
18,103
5,466
5,613
26,258
(15,301)
978
129
12,325
12,250
1,478
2,261
1,865
1,572
15,274
15,854
44,178
55,964
1,787
100
3,462
3,138
1,353
3,716
2,060
3,293
13,695
6,579
170
144
37,958
31,994
-
-
50,223
47,986
1,875,528
1,524,935
2,982,289
2,573,595
-
-
-
-
-
-

This page does not form part of the audited financial statements.

45

GREATER MANCHESTER CENTRE FOR VOLUNTARY ORGANISATION

Detailed statement of financial activities Year ended 31 March 2022

Consolidated Consolidated GMCVO GMCVO
2022 2021 2022 2021
£ £ £ £
Governance costs:
Audit fees 24,060 20,672 11,842 10,180
Governance costs - - - -
Legal and professional fees 14,542 7,672 14,316 4,720
38,602 28,344 26,158 14,900
TOTAL EXPENDITURE 3,547,694 3,007,925 3,008,447 2,588,495
Tax on net income
for the year - - - -
NET INCOME FOR THE YEAR
243,584 757,300 281,204 829,075

This page does not form part of the audited financial statements.

46