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2022-03-31-accounts

Page
Reference and Administrative
Details
Strategic Report 2 to 5
Trustees'
Report		 6 to 9
Report ofthe Independent
Auditors		 10 to 12
Statement
of Financial		 Acfivilies
Balance Sheet 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 31
VOLUNTARY VOLUNTARY ACTION LEICESTER
KNOWN AS
VOLUNTARY ACTION LEICESTERSHIRE (VAL)
REFERENCE AND ADMINISTRATIVE
DETAILS
For The Year Ended 31 March 2022
TRUSTEES L M Jones (Chair of Trustee Board)
N Waghela
(Vice Chair)
M S Esat (Treasurer)
ERees (resigned 27.7.22)
A Aggarwal
D J Cullen
K McCormack
(resigned		 14.7.21)
C Mudhefi
L A Atterbury
(resigned		 14.6.21)
A R Jofiey
M Platt (resigned 27.7.22)
G L Edwards
BS Poonia (resigned 4.6.21)
J R Moore (appointed 12.1.22)
EWeathererSmith (appointed 12.1.22)
C Pugh (appointed 12.1.22)
Z Haque (appointed 12.1.22)
REGISTERED OFFICE 9 Newarke
Street
Leicester
LEI 5SN
REGISTERED COMPANY NUMBER 01357513
REGISTERED CHARITY NUMBER 509300
AUDITORS Fortus Audit
LLP
Chartered
Accountants		 &Statutory Auditor
31 High View Close
Hamilton
Office Park
Leicester
Leicestershire
LE4 9LJ
SOLICITORS Shakespeares
Martineau		 LLP
2Colton Square
Leicester
LE1 IQH
Knights Pic
34 Pocklingtons
Walk
Leicester
LEI 6BU
BANKERS Bank ofScotland Pic
PO Box 1000
BX2 I LB

2022 2021
Unrestricted Restricted Total Total
funds funds funds funds
Notes 5
INCOME AND ENDOWMENTS FROM
Donations and legacies 1,557 1,557 3,167
Charitable
activilies		 4 1,136,456 1,439,965 2,576,421 2,455,791
Investment
income		 227,998 227,998 117,410
Total 1,366,011 1,439,965 2,805,976 2,576,368
EXPENDITURE ON
Raising funds 5 188,721 188,721 148,746
Charitable
activities		 6 1,002,149 1,495,286 2,497,435 2,324,735
Total 1,190,870 1,495,286 2,686,156 2473,481
NET INCOME/(EXPENDITURE) 175,141 (55,321) 119,820 102,887
Other recognised
gains/(losses)
Actuarial
gains/(losses)		 on defined benefit
schemes 1,280,000 1.280,000 ~1,680.000
Net movement
in funds		 1A55,141 (55,321) 1,399,820 (1,577,113)
RECONCIUATION
OF FUNDS
Total funds brought forward (522,321) 387,846 (134,475) 1,442,638
TOTAL FUNDS CARRIED FORWARD 732.820 332,525 1.265,345 ~134,475

BALANCE SHEET
31 March 2022
2022 2021
Notes 5
FIXED ASSETS
Tangible assets 13 2,477,702 2,440,844
CURRENT ASSETS
Debtors 14 140,163 141,447
Cash in hand 933.066 924.733
1,073,229 1,066,180
CREDITORS
Amounts
falling due within one year		 15 (206,029) (239,528)
NET CURRENT ASSETS 867.200 826,652
TOTAL ASSETS LESSCURRENT LIABILITIES 3,344,902 3,267,496
CREDITORS
Amounts
falling due after more than one
year 16 (169,557) (211,971)
PENSION
LIABILITY		 20 (1,910,000) (3,190,000)
NET ASSETS/(LIABILITIES) 1,265,345 ~134,475)
FUNDS 19
Unrestricted
funds		 535,012 (923,237)
Revaluation
reserve fund		 397,808 400,916
Restricted
funds		 332,525 387,846
TOTAL FUNDS 1,265,345 ~134,475)
2022 2021
Notes E
Cash flows from operafing acfivities
Cash generated
from operations		 I '150,725 212,511
Interest paid (8,535) (11,013)
Net cash provided
by operating
activities		 142,190 20'1,498
Cash flows from invesfing activities
Purchase oftangible
fixed		 assets (93,000) (26,321)
Interest received 78 205
Net cash used
in investing		 activities ~92,922) ~26,116)
Cash flows from financing activities
Loan repayments
in year		 ~40,935) ~98,785)
Net cash provided
by/(used
in) financing		 activities $40,935) ~98,785)
Change
in cash and cash		 equivalents in
the reporting
period		 76,597
Cash and cash equivalents at the
beginning
ofthe reporling		 period 924,733 848, 136
Cash and cash equivalents at the end of
the reporting
period		 933,066 924,733

2022 2021
E
Net income for the reporting period (as per the Statement of
Financial Activities) 119,820 102,887
Adjustments
for.
Depreciation
charges		 56,142 53,511
Interest received (78) (205)
Interest paid 8,535 11,013
Decrease in debtors 1,284 3,338
(Decrease)/increase in creditors ~34,978 41,967
Net cash provided by operations 150,725 212,511
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.21 Cash flow At 31.3.22
F, S E
Net cash
Cash at bank and in hand 924,733 8,333 933,066
924,733 8,333 933,066
Debt
Debts falling due within I year (40,934) (1,480) (42,414)
Debts falling due after I year (211,971) 42,414 ( I69,557)
(252,905) 40,934 (211.971)
Total 671,828 49,267 721,095

DONATIONS
AND LEGACIES
2022 2021
E E
Donations and gifts 1,557 3,167
INVESTMENT INCOME
2022 2021
E
Rental income 199,444 115,835
Room hire income 28,476 1,370
Deposit account interest 78 205
227,998 117,410

Unrestricted Restricted 2022 2021
funds funds
E
Support services for VCS groups and 547,727 547,727 668,303
volunteers
Health and social care related services 578,185 5,776 583,961 428,754
(adults)
Children,
young people and families services		 700,585 700,585 641,984
Support toget people into employment or
training 733,604 733,604 608,942
Training courses 1,070 1,070 (200)
Consultancy income 588 588 850
Coronavirus Job Retention Scheme 8,886 8,886 107,158
1,136,456 1,439,965 2,576,421 2,455,791

Raising donations Raising donations and legacies
2022 2021
Staff costs 143,532 59,126
Other trading activities
2022 2021
5
Shared costs 45,189 89,620
Aggregate
amounts		 188,721 148,746

Unrestricted Restricted 2022 2021
funds funds
8 8
Support services for VCS groups and volunteers 458,561 63,197 521,758 616,758
Health fLsocial care related services (adults) 543,085 378 543,463 440,699
Children,
young people and families		 services 687,533 687,533 645,191
Support to get people into employment or 503 744,178 744,681
training 622,087
1.002,149 1,495,286 2,497,435 2,324,735

Net income/(expenditure)
is stated after charging/(cred		 iting):
2022 2021
K
Audit of financial statements 6,750 6,700
Depreciation
-owned assets		 56,142 53,511
Finance charges payable 9,421 11,547

STAFF COSTS
2022 2021
Wages and salaries 1,627,821 1.565,038
Social security costs 125.961 121,967
Other pension costs 165.569 166,911
1,919,351 1,853,916
The averag e
monthly
number of employees
durin		 g the year was as follows:
2022 2021
Charitable activities 49 50
Administration 5 6
Trading 4 4
58 60

2022 2021
1 1

2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
Notes 5
INCOME AND ENDOWMENTS FROM
Donations and legacies 649 2,518 3,167 185
Charitable
activities		 1,089,450 1,366,341 2,455,791 2,813,269
Investment
income		 3 117,410 117,410 219,315
Total 1,207,509 1,368,859 2,576,368 3,032,769
EXPENDITURE ON
Raising funds 5 148,746 148,746 184,339
Charitable
activities		 6 908,899 I 415,836 2,324,735 2,742,757
Total 1,057,645 1,415,836 2,473,481 2,927,096
NET INCOME/(EXPENDITURE) 149,864 (46,977) 102,887 105,673
Other recognised
gains/(losses)
Actuarial
gains/(losses)		 on defined benefit (1,680,000) (1,680,000) .710,000
schemes
Net movement
in funds		 (1,530,136) (46,977) (1,577,113) 815,673
RECONCILIATION
OF FUNDS
Total funds brought
forward		 1,007,815 434,823 1,442,638 626,965
TOTAL FUNDS CARRIED FORWARD ~522,321 387,846 J134,475) 1,442,638

'TANGIBLE FIXED ASSETS
Assets Fixtures
Freehold under and
property construction fittings Totals
5 5
COST
At
I April 2021		 2,500,000 107,693 2,607,693
Additions
Disposals		 93,000 ~42,535) 93,000
~42,535)
At 31 March 2022 2,500,000 93,000 65,158 2,658,158
DEPRECIATION
At
1 April 2021		 100,000 66,849 166,849
Charge foryear
Eliminated
on disposal		 50,000 6,142
~42,535)		 56,142
~42,535)
At 31 March 2022 150,000 30,456 180,456
NET BOOK VALUE
At 31 March 2022 2.300.000 93,000 34,702 2,477.702
At 31 March 2021 2,400,000 40844 2,440,844
The freeh
Valuations		 old
property
was revalued
at 3
-Global Standards
2017.		 old
property
was revalued
at 3
-Global Standards
2017.		 1 March
201		 9 by Innes
England
in accordanc		 e
with
RIC
Iffreehold property had not been included at valuation, itwould be valued at the following amounts:
2022 2021
E S
Cost 3,060,519 3,060,519
Accumulated depreciation (1,151,281) (1,090,071)
Net book value 1,909,238 1,970,448

DEBTORS: AMOUNTS
FALLING DUE WITHIN ONE Y		 EAR
2022 2021
5
Trade debtors 107,790 99,885
Other debtors 3,569
Prepayments 4,444 6,363
Accrued income 27,929 31,630
140,163 141,447

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR FALLING DUE WITHIN ONE YEAR FALLING DUE WITHIN ONE YEAR
2022 2021
5
Bank loans and overdrafts [see note 17) 42,414 40,934
Trade creditors 23,667 45,047
Social security and other taxes 36,078 30,979
VAT 8,751 35,274
Other creditors 38,457 33,711
Accruals and deferred income 56,662 53,583
206,029 239,528
16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
8
Bank loans (see note ]7) I69,557 211,971
17. LOANS
An analysis ofthe maturity of loans
is given below:
2022 2021
5 E
Amounts
falling due within		 one year on demand:
Bank loans 42,414 40,934
Amounts
falling due between		 two and five years:
Bank loans - 2-5years 169,557 179,442
Amounts
falling due in		 more than five years:
Bank loans &5years 32,529

18. ANALYSIS O F NET ASSETS BET WEEN FUNDS
2022 2021
Unrestricted Restricted Total Total
funds funds funds funds
Fixed assets 2,176,865 300,837 2477,702 2,440,844
Current assets 1,041,541 31,688 1,073,229 1,066,180
Current
liabilities		 (206,029) (206,029) (239,528)
Long term liabilities (I 69,557) (169,557) (211,971)
Pension
liability		 ~1.910.000 ~1.910,000) ~3,190,000)
932,820 332,525 1 265 345 ~134475)
19. MOVEMENT IN FUNDS
At I Apr'il Ihcomlhg Resources Gains / At 31
2021 resources expended (losses) March 2022
transfers
Unrestricted
funds
General fund 2,171,763 1,366,011 (1,190,870) 3,108 2,350,012
Pension reserve I 280 000
440,012
Designated
Equipment
reserve		 25,000 25,000
Redundancy
reserve		 50,000 50,000
Property maintenance reserve 20,000 20,000
95000 95000
Total unrestricted funds 535.012
Revaluation
reserve fund
Fixed asset reserve		 400,916 0' 0 397,808
Total revaluation reserve 400,916 397,808
Restricted funds
9 Newarke
Street		 347,729 (46,892) 300,837
YESProject 1,847 700,585 (686,533) 15,899
GREAT Project 18.053 559,829 (571,489) 6.393
WiLL —Work in Live Leicestershire 1,613 150,642 (149,379) 2,876
WiLL donations 1,299 (177) 1,122
YESdonations 1,000 (1,000j
VCSE Insights 16,305 (16,305)
Kickstart 23,133 (23.133)
LeDeR 2,266 (378j 1,888
MENCAP —Tackling inequalities 3,510 3,510
332,525
TOTAL FUNDS .280.000

.
MOVEMENT
IN		 .
MOVEMENT
IN		 .
MOVEMENT
IN		 FUN DS - contin ued ued
Comparatives for movement in funds
At I Apdil Incoming Resources Gains / AI 31
2020 resources expended (lossesl March 2021
transfers
5
Unrestricted
funds
General fund
Pension reserve		 2,015,685
i''
0		 1.207,509 (1,057,645) 6,214 2,171,763
505 685
Designated
Equipment
reserve		 25,000 25.000
Redundancy
reserve		 50,000 50,000
Property maintenance reserve 20,000 20,000
95.000 95,000
Total unrestricted funds 600.685
Revaluation
reserve lund
Fixed asset reserve 407,130 430,916
Total revaluation reserve 407,130 400916
Restricted funds
9 Newarke
Street		 394,621 (46,892) 347,729
YES Project 5,054 641,984 l645,191) 1,847
GREAT Project
ESF-Leicester Employment
Huti
WiLL —Work in Live Leicestershire		 31,402
1,019		 451,503
25,126
132,313		 (464,852j
(25,126j
(131,719)		 18,053
1,613
Social Investment Ready 2,727 (2,727j
Leicester
DWP —Economic Impact 75,755 (75,7551
WiLL donations 1,518 (219) 1,299
YESdonations 1,000 1.000
VCSE Insights 39,660 16,305
434,823 1,368,859 1,415,836 387,846
TOTAL FUNDS 1.442,638 ~0000 ~33»

Defined benefit
pension plans
2022 2021
Present value of funded obligations [8,692,000) (9,256,000)
Fair value of plan assets 6,782,000 6,066,000
(1,910,000) (3,190,000)
Present value of unfunded obligations
Deficit It.e&O.OOOt ~3.790000
Net liability ~7,9700007 ~3790000
The amounts
recognised
in the Statement
of ffnancial
Ac		 tivities are as follows
Defined benefit
pension plans
2022 2021
5 E
Current service cost 18'1,000 125,000
Net interest from net defined benefit
asset/liability 66,000 35,000
247,000 160,000
Actual return on plan assets 684,000 1,105,000
Changes in t he p resent value ofthe defined benefit obl igation are as follows
Defined benefit
pension plans
2022 2021
E E
Opening defined benefit obligation 9,256,000 6,433,000
Current service cost 181,000 125,000
Contributions by scheme participants 26,000 25,000
Interest cost 191.000 149,000
Actuariallosses/(gains)
Benefits paid		 (877,000)
~83.0007		 2,602,000
~78.0007
8,692,000 9,256,000

Changes
in t		 he fair value ofscheme assets are as follow s:
Defined benefit
pension plans
2022 2021
Opening
fair		 value ofscheme assets 6,066,000 4,923,000
Contributions by employer 91,000 91,000
Contributions by scheme participants 26.000 25,000
Expected return 125,000 116L000
Actuarial
gains/(losses)
Benefits paid		 559,000
~85.000		 991,000
~71I.QQtti
6,782,000 6,066,000
The amou nts
recognised
in other recognised
gain		 s and losses are as follows:
Defined benefit
pension plans
2022 2021
E
Actuarial gains/(losses) 1 280000 ~1680000)
1,280,000 ~1,680,000
The major categories ofscheme assets as amounts
oftotal scheme assets are as follows;
Defined benefit
pension plans
2022 2021
E E
Equities 4,069,000 3,700,000
Bonds 1,967,000 1,577,000
Property 543,000 425,000
Cash 203,000 364,000
6,782,000 6,066,000

2022 2021
Discount rate 2.75/o 2.051o
Future salary increases 3 65/o 3.30'Po
Future pension increases 3.15% 2.80/o
Post retirement
mortality		 assumpfions
2022 2021
Years Years
Current UK pensioners at retirement age - male 21.5 21.7
Current UK pensioners at retirement age - female 24.0 ' 24.2
Future UK pensioners at retirement age —male 22.4 22.6
Future UK pensioners at retirement age —female 25.7 25.9
CAPITAL COMMITMENTS
2022 2021
E
Contracted
but not provided		 for in the financial statements 89,176