``` REGISTERED COMPANY NUMBER: 01357513 REGISTERED CHARITY NUMBER: 509300 ``` ``` STRATEGIC REPORT, TRUSTEES' REPORT AND ``` ``` FINANCIAL STATEMENTS ``` ``` FOR THE YEAR ENDED 31 MARCH 2025 ``` ``` FOR ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) (A COMPANY LIMITED BY GUARANTEE) ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`CONTENTS OF THE FINANCIAL STATEMENTS For The Year Ended 31 March 2025`** |||**`Page`**|| |---|---|---|---| |**`Reference and Administrative Details`**||`1`|| |**`Strategic Report`**|`2`|`to`|`4`| |**`Trustees' Report`**|`5`|`to`|`8`| |**`Report of the Independent Auditors`**|`9`|`to`|`12`| |**`Statement of Financial Activities`**|`13`|`to`|`14`| |**`Balance Sheet`**||`15`|| |**`Cash Flow Statement`**||`16`|| |**`Notes to the Cash Flow Statement`**||`17`|| |**`Notes to the Financial Statements`**|`18`|`to`|`32`| ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS For The Year Ended 31 March 2025`** |**`TRUSTEES`**|`L M Jones (Chair of Trustee Board)`| |---|---| ||`N Waghela (Vice Chair)`| ||`M S Esat`| ||`A Aggarwal`| ||`D J Cullen`| ||`C Mudhefi (resigned 28.3.25)`| ||`A R Jolley (Treasurer)`| ||`G L Edwards`| ||`J R Moore`| ||`E Weatherer-Smith`| ||`Z Haque`| |**`REGISTERED OFFICE`**|`9 Newarke Street`| ||`Leicester`| ||`LE1 5SN`| |**`REGISTERED COMPANY NUMBER`**|`01357513`| |**`REGISTERED CHARITY NUMBER`**|`509300`| |**`AUDITORS`**|`TC Group`| ||`31 High View Close`| ||`Hamilton Office Park`| ||`Leicester`| ||`Leicestershire`| ||`LE4 9LJ`| |**`SOLICITORS`**|`Shakespeare Martineau LLP`| ||`2 Colton Square`| ||`Leicester`| ||`LE1 1QH`| ||`Knights Plc`| ||`34 Pocklingtons Walk`| ||`Leicester`| ||`LE1 6BU`| |**`BANKERS`**|`Bank of Scotland Plc`| ||`PO Box 1000`| ||`BX2 1LB`| ``` Page 1 ``` ## **`VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL)`** ## **`STRATEGIC REPORT For The Year Ended 31 March 2025`** ``` TheTrustees,whoaredirectorsforthepurposesofcompanylaw,presenttheirstrategicreportforthe year ended 31 March 2025, in compliance with s414C of the Companies Act 2006. ``` ## **`Achievements and Performance`** ``` Consideringtheyearwehaveseenoneofstabilityviathesecondyearofdeliveryofthe Healthwatch LeicesterandLeicestershirecontractandourSectorSupportcontractto31stMarch2027.Our VALUES projectcontinuedtogrowandincreaseditsincome,andwehaveseenanincreaseinincomefrom office lettings, alongside growth for our meeting and conference rooms. ``` ## **`Achievements through the financial year`** ``` Our key achievements this financial year have been: ``` ``` VALUES-supportforpeoplewithLearningDifficulties-TheVALUESserviceprovidesdirectsupportto, and aidstheindependenceof,peoplewithLearningDifficulties.Wehave129serviceusersasat31March 2025 whopayfortheirsupportthroughtheirPersonalBudgetallocatedbytheLocalAuthority.The service operates7daysaweekand51weeksayear.Thisyearintotal,weprovidedover19,644hrsofsupport to client s. ``` ``` SectorSupport-VALhascontractstosupportvoluntaryandcommunitygroupsandvolunteering in Leicester City (through Health funding only) and Leicestershire. During the year we have: ``` ``` - Supported 903 people in volunteering in the City and County ``` ``` -Organised35onlineorinpersoneventswith400attendees-includingourannualFuture Focus conference. ``` ``` - Provided Direct Support for 552 local groups. (last year 711) ``` ``` - Supported local groups to raise £333,368 in new income. (last year £1,213,475) ``` ``` -Deliveredregularcommunicationtogroupsthroughourwebsiteandfrequentelectronicbriefings- there arenearly3,504subscriberstooure-newslettersthatprovideupdatesonpolicybriefings, volunteering, funding and commissioning opportunities and economic impact. ``` ``` HealthwatchLeicesterandLeicestershire-VAListheaccountablebodyforHealthwatchLeicester and Leicestershirewhichisthelocalhealthandsocialcarechampion.Thecontractenablesustomake sure thatNHSleadersanddecisionmakershearthevoicesoflocalpeopletoimprovecare.Wealso offer reliable and trustworthy information and advice. During the year, we have: ``` ``` -Published24reportsabouttheimprovementspeoplewouldliketoseetolocalhealthandsocial care services ``` ``` -Providedadviceandinformationto10,434people(lastyear8821)abouttopicssuchasmental health and dentistry ``` ``` -Spokento9259people(lastyear8040)togaintheirfeedback,viewsandexperiencesofhealth and social care service, helping us to raise awareness of issues and improve care. ``` ``` CreativeFutures-VALwasawardedmoniesfromtheUKSharedProsperityFund(UKSPF)tosupport young peopleintotraining,accreditedcoursesinartsandopportunitiestotestoutworkinginthe creative industries.Wealsosupporttheyoungpeoplewithemployabilityskills,CVpreparation,jobinterview skills and how to use LinkedIn to create their online portfolio. During the 9 months funding we have: ``` ``` - Signed up 73 young people to the project - Enable 9 young people to get into employment ``` - `39 young people accessed further education and/or training` - `66 have accessed employability support` - `8 young people have achieved their Silver Arts Award (L2 Qualification)` - `9 young people have achieved their Bronze Arts Award (L1 Qualification` ``` Page 2 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`STRATEGIC REPORT For The Year Ended 31 March 2025`** ## **`FINANCIAL REVIEW`** ``` Thisfinancialyeartheorganisationhasrecordedan'inyear'deficitof£41,907(2024:surplusof£311,613 - restated) ``` ``` Duringthisyearapproximately13.7%ofVAL'sexpenditurewasforthedeliveryofservicestosupport people intoemploymentortraining,50%wasforHealthandSocialCareservices,5.9%wasforchildrenand young peopleservices,17.5%wasforsupportingcommunityandvoluntarygroupsandvolunteering,12.4% was towards raising funds and 0.5% towards governance costs. ``` ``` VAL had the following significant contracts and grants this financial year: ``` ``` - Leicestershire County Council - for delivery of support services to the community sector and volunteering. ``` ``` - Leicester City Council - for delivery of Healthwatch Leicester and Leicestershire. ``` ## **`POLICY ON RESERVES`** ``` Thecharityhadunrestrictedreservesof£2,849,817atMarch2025(restated:£2,630,458atMarch2024). After takingaccountofdesignatedreserves,thecharitycurrentlyholdsfreereservesof£314,353, (restated £94,994onMarch2024).Thecharity'sreservespolicysetsoutanaimtoaccumulatefreereserves of £595,000. ``` ``` The trustees have three purposes for the accumulation of free reserves: ``` `1. To enable the organisation to be wound up if this is found prudent and necessary.` `2. To finance the development of new or existing services.` `3. To invest in our assets to develop and enhance our income streams.` ## **`PRINCIPAL FUNDING SOURCES`** ``` Thecharityhasnotundertakenfundraisingfromthepublicinanysignificantwayduringtheyear. The majorityoffundshavebeenreceivedfromstatutoryauthoritiesthroughservicecontracts,orfrom grant making bodies such as Trusts. ``` ``` In the 2024-25 financial year funding was received from: ``` ``` - Leicestershire County Council ``` - `Leicester City Council` - `Leicester Leicestershire and Rutland Integrated Care Board` - `NHS Leicestershire Partnership Trust` - `Harborough District Council` - `Oadby and Wigston Borough Council` - `The National Forest Company` - `The Armed Forces Covenant Fund` - `UK Shared Prosperity Fund` - `The National Lottery Community Fund` ## **`INVESTMENT POLICY AND OBJECTIVES`** ``` TheTrusteeshavereviewedtheirpolicyofretaininginvestmentineasilyaccessibledepositaccounts and confirmeditisnecessaryforcash-flowpurposestocontinuetoutiliselowerinterestreturnsfrom easily accessiblesavingsaccounts.Theorganizationhas£256,000(Mar2024:£298,000)investedina 32-day notice account. ``` ## **`PLANS FOR FUTURE PERIODS`** ``` AsnotedinthelastreportthisyearhasseenseveralchangeswithinVALtoensurethatweareinthe best positiontokeepussustainableandreadytoseekfurtherdiversificationoffundsfortheorganisation. These changes include: ``` ``` Page 3 ``` ## VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ## STRATEGIC REPORT For The Year Ended 31 March 2025 - Recruitment of Trace Voss into a new role of Director of Development looking at ways VAL can diversify income on areas not on coniracis or tenders. its - Restructure of our Senior Management Team to Director of Operations and Services and Director of Development to match the complexity of our current organisation - Changes to our finance team changing from a Head of Finance to a Finance Manager and restructuring processes to ensure that we are better equipped to understand ourselves financially. VAL has continued to keep itself in a strong financial position, and the positive recognition of our work with communities and volunteers through this year has improved our status as a valued local pariner. Our Sector Support contract received a three year extension to 31st March 2027 due fo our contract managers realising the valuable contribution VAL plays in supporting local communities. In the coming year we will: 1. Further develop the relationship between the Integrated Care system and the local VCSE, in light of neighbourhood models of health being developed. 2. Build up more health and social care related service delivery by VAL. 3. Regrow our employability offer enabling local people opporiunities to get closer to employment 4. Further expand our VALUES service - supporiing people with a learning disability to live fulfilling lives as independently as possible. 5. Continue to develop our relationship with the City Council, especially around posifive volunteering and group support. 6. Engage and build robust relationships with local businesses for the benefit of VAL and the local VCSE. ## PRINCIPAL RISKS AND UNCERTAINTIES The principal risks facing the charity are: ## Financial - Loss of major contracts - reducing overall income - Reduced public sector budgets resulting in lower value and fewer contracts - Fraud ## Reputational - Failure to deliver contraciual outcomes - Safeguarding issue not identified - Failure to follow legislative requirements ## People - Loss of key personnel - Major unresolved customer complaint The Trustee Board receive a risk report from the Chief Executive at every Board meeting. All risks are reviewed for their impact, likelihood and current dynamic to identify priority risks at any one time. There are a wide range of mitigating actions identified and implemented on a rolling basis. . 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Page 4 ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`TRUSTEES' REPORT For The Year Ended 31 March 2025`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,present their reportwiththefinancialstatementsofthecharityfortheyearended31March2025.Thetrustees have adoptedtheprovisionsofAccountingandReportingbyCharities:StatementofRecommended Practice applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` Thecharity'sobjectsaretopromoteanycharitablepurposesforthebenefitofthecommunityinthe City ofLeicesterandCountyofLeicestershire,andtopromoteandorganiseco-operationinthe achievement of this purpose. ``` ``` OurstrategicprioritieswerereviewedbytheTrusteeBoardearlyin2025whowereguidedby our commitmenttothegoalofhelpingpeoplechangetheirlivesforthebetter.Asaresult,theTrustee Board agreed the following five key aims: ``` `1. VAL supports the VCSE to meet community needs in a changing environment` `2. VAL and the VCSE work for change for the most disadvantaged people` `3. VAL enables local people to influence and challenge health and social care` `4. VAL increases the reach of our services` `5. VAL is a centre of excellence with high quality and sustainable services` ## **`Objects, strategies and activities`** ``` VoluntaryActionLeicester(VAL)deliversarangeofdirectservicestoindividualsinneedaswell as supportingalargenumberoflocalcommunityandvoluntarygroups.Themainactivitieswe have engaged in this year to fulfil our charitable purposes and deliver public benefit are: ``` ``` -ProvisionofsupporttopeoplewithaLearningDisabilitytoliveasindependentandfulfillinglives as possible. ``` - `Supporting people to become volunteers in their community.` - `Providing information and support to local community and voluntary groups so they can thrive.` - `Providing support, information and guidance to local peoples health and social care needs.` ## **`Public benefit`** ``` Ourmainactivitiesandtheindividualsandcommunitiesweaimtohelparedescribedabove.All our charitableactivitiesfocusontheinvolvementofpeopleintheimprovementofcommunitiesand are undertakentofurtherourcharitablepurposesforthepublicbenefit.Wedonotlimitaccesstoour activities topeopleandgroupswithinourgeographicareaofbenefitandtakestepstoreducebarrierstoaccess for individualsandgroupsthroughensuringaccessiblevenues,providingaccessiblematerials,and running specific projects targeted at disadvantaged members of the public. ``` ``` TheTrusteeshavereferredtotheCharityCommission'sgeneralguidanceonpublicbenefitwhen reviewing ouraimsandobjectivesandinplanningourfutureactivities.Inparticular,thetrusteesconsideredhow our planned activities contribute to the aims and objectives that they have set. ``` ``` Page 5 ``` ## **`VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL)`** ## **`TRUSTEES' REPORT For The Year Ended 31 March 2025`** ## **`OBJECTIVES AND ACTIVITIES`** ## **`Use of Volunteers`** ``` The charity involves volunteers in a range of ways to enhance our service delivery: ``` ``` - Governance of the organisation through the Trustee Board; ``` - `Delivery of clerical and other support to VAL service delivery;` ``` - A scheme for supported volunteering of people with learning disabilities. ``` ``` - Via support to those seeking employment and employability skills ``` ``` Wehaveafullrangeofpoliciesandproceduresinplacetoensurethisinvolvementissuccessful and beneficialtoallparties.VALisarecognisedInvestorinVolunteers(anationalstandardmanagedby the NationalAssociationofVoluntaryandCommunityAction(NAVCA)).WearealsoaNAVCA national Volunteer Centre, and we are only one of 25 in the UK to achieve this. ``` ## **`Employment of disabled persons`** ``` Aspartofourpreviousrecognitionasaninvestorinpeoplewehavewellestablishedmechanismsfor the involvementofemployees.Ourpremisesarefullyaccessibleforpeoplewithdisabilities,andatleast 10% of our employees have declared disabilities. ``` ## **`Prior year adjustment`** ``` Prioryearadjustmentstotheyearended31March2024havebeenmadeinrelationtogrant income recognition and fixed asset capitalisation. ``` ``` Anadjustmenthasbeenmadetorecognisegrantsawarded,totalling£642,779wherethe income recognitioncriteriawasachievedinthepreviousyear.Thishasincreasedincomeandaccruedincome as at 31 March 2024 by £642,779. ``` ``` AdditionallyaboilerwaspurchasedinOctober2022whichshouldhavebeencapitalisedonthe balance sheet.Thiswaspreviouslynotcapitalisedasitfellbelowthematerialitythresholdinprioryear. This amountedtoacostof£40,000withaccumulateddepreciationof£6,000.Thishasdecreased expenditure and increased fixed assets by £34,000 as at 31 March 2024. ``` ## **`Going concern`** ``` NomaterialuncertaintiesthatmaycastsignificantdoubtupontheabilityoftheCharitytocontinueas a goingconcernhavebeenidentifiedbytheTrustees.Thereforetheaccountsarepreparedonthe going concern basis. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Thecharityisacharitablecompanylimitedbyguaranteeandwassetupon20May1965as an unincorporatedorganisation.Itwasincorporatedasacompanylimitedbyguaranteeon14March 1978, andisgovernedbyamemorandumandarticlesofassociation,whichwerelastamendedinFebruary 2022 to move the organisation to the Charity Commission Model. ``` ``` The organisation was registered as a charity on 31 October 1979. ``` ``` ThecompanywasestablishedunderaMemorandumofAssociationthatestablishedtheobjects and powersofthecharitablecompanyandisgovernedunderitsArticlesofAssociation.Underthose Articles themembersoftheTrusteeBoardareappointedtoserveamaximumperiodof3yearsbefore being eligibleforre-appointment.HonoraryOfficersareelectedfromamongsttheTrustees,bytheTrustees at their first meeting after the AGM. ``` ``` Page 6 ``` ## **`VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL)`** ## **`TRUSTEES' REPORT`** ## **`For The Year Ended 31 March 2025`** ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Recruitment and appointment of new trustees`** ``` OurTrusteeBoardmembersareallmembersofthecharity(etherindividualmembersor nominated representativesofgroupmembers).MembershipisopentocommunityandvoluntarygroupsintheCity of LeicesterandtheCountyofLeicestershire,andtoindividualswhosupportourcharitableobjects. Currently thereare536voluntaryandcommunitygroupsinmembership.TheTrusteeBoardrecruitnew Trustees throughseekingnominationfrommembersand/oropenlyadvertisinginthelocalpress. Prospective Trusteesareinterviewedbyapanelofthreeexistingtrustees.Anynewappointmenthastobeendorsed by themembershipatthenextAnnualGeneralMeetingbutcanserveinthemeantime.TheTrusteeshave the power to co-opt up to three further Trustees and to fill casual vacancies arising through the year.. ``` ## **`Organisational structure`** ``` TheTrusteeBoardcomprisesupto15trusteeswhoappointthreehonoraryofficersfromtheirnumber. The TrusteeBoardcurrentlymeetmonthlyandtakeallstrategicdecisionsofthecharityaswellas monitor progress against our activity and financial plans. ``` ## **`Induction and training of new trustees`** ``` AllTrusteeBoardmembersreceivetrainingand/orsupportidentifiedfurthertrainingtoenablethemto fulfil theirroleasTrustees.Alltrusteesreceiveaninductionpackthatcontainsinformationonthecharity and guidance on their roles as charity trustees and company directors. ``` ## **`Arrangements for setting key management personnel remuneration`** ``` TheTrusteeBoardsetstargetsfortheChiefExecutiveeachyear-andmonitorstheirprogressagainst these targets.Subjecttothisperformance,thefinancialhealthofthecharity,andareviewofthesalary market forcharityChiefExecutives,theTrusteeBoardmaydeterminetoaltertheremunerationofthe Chief Executive. ``` ## **`Relationships with Related Parties`** ``` Thecharityisamemberoftwonationalvoluntarysectorumbrellabodies,namelyNationalAssociation of VoluntaryandCommunityAction(NAVCA)andNationalCouncilforVoluntaryOrganisations (NCVO). These bodies provide best practice advice and link to national policy. ``` ## **`Financial instruments`** ## `Objectives and policies` ``` TheCharity'sactivitiesexposeittofinancialrisksincludingcreditrisk,cashflowriskandliquidityrisk.The use offinancialderivativesisgovernedbythecharity'spoliciesgovernedbytheboardoftrustees which providewrittenprinciplesontheuseoffinancialderivativestomanagetheserisks.Thecharitydoesnot use derivative financial instruments for speculative purposes. ``` ## **`Credit Risk`** ``` Thecharity'sprincipalfinancialassetsarebankbalancesandcash,tradeorotherreceivables, and investments.TheCharity'screditriskisprimarilyrelatedtoitstradereceivables.Theamountspresented in thebalancesheetarenetofallowances,fordoubtfulreceivables.Anallowanceforimpairmentis made wherethereisanidentifiedlosseventwhich,basedonpreviousexperience,isevidenceofareduction in the recoverability of cash flows. ``` ``` TheCharityhasnosignificantconcentrationofcreditrisk,withexposurespreadoveralargenumber of counterparties and customers. ``` ## **`Liquidity Risk`** ``` Inordertomaintainliquiditytoensurethatsufficientfundsareavailableforongoingoperationsand future developments,theCharityusesamixtureoflongtermandshorttermdebtfinance.Further details regarding liquidity risk can be found in the statement of accounting policies in the financial statements. ``` ``` Page 7 ``` ## VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL} TRUSTEES' REPORT For The Year Ended 31 March 2025 ## STATEMENT OF TRUSTEES‘ RESPONSIBILITIES The trustees {who are also the directors of Voluntary Action Leicester known as Voluntary Action Leicestershire (VAL) for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial siatements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to - select suitable accounting policies and then apply them consistenily: - observe the methods and principles in the Charity SORP; - - make judgemenis and estimates that are reasonable and prudent: - state whether applicable accounting standards have been followed, subject to any maierial departures disclosed and explained in the financial statements; - - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will coniinve in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the trustees are aware, there is no relevant information (as defined by Section 418 of the Companies Act 2006} of which the charitable company's auditors are unaware, and each trustee has taken all the steps that they ought fo have taken as a trustee in order to make them aware of any audit information and to establish that the charitable company's auditors are aware of that information. Approved by order of the board of trustees on Blo {202s and signed on its behalf by: ## Fenner seseceneesenes Page8 ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL)`** ## **`Opinion`** ``` WehaveauditedthefinancialstatementsofVoluntaryActionLeicesterknownasVoluntary Action Leicestershire(VAL)(the'charitablecompany')fortheyearended31March2025whichcomprise the StatementofFinancialActivities,theBalanceSheet,theCashFlowStatementandnotestothe financial statements,includingasummaryofsignificantaccountingpolicies.Thefinancialreportingframework that hasbeenappliedintheirpreparationisapplicablelawandUnitedKingdomAccounting Standards (United Kingdom Generally Accepted Accounting Practice). ``` - `In our opinion the financial statements:` - `give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;` - `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and` - `have been prepared in accordance with the requirements of the Companies Act 2006.` ## **`Basis for opinion`** ``` WeconductedourauditinaccordancewithInternationalStandardsonAuditing(UK)(ISAs(UK)) and applicablelaw.Ourresponsibilitiesunderthosestandardsarefurtherdescribedinthe Auditors' responsibilitiesfortheauditofthefinancialstatementssectionofourreport.Weareindependentof the charitablecompanyinaccordancewiththeethicalrequirementsthatarerelevanttoourauditof the financialstatementsintheUK,includingtheFRC'sEthicalStandard,andwehavefulfilledourother ethical responsibilitiesinaccordancewiththeserequirements.Webelievethattheauditevidencewe have obtained is sufficient and appropriate to provide a basis for our opinion. ``` ## **`Conclusions relating to going concern`** ``` Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcern basis of accounting in the preparation of the financial statements is appropriate. ``` ``` Basedontheworkwehaveperformed,wehavenotidentifiedanymaterialuncertaintiesrelating to eventsorconditionsthat,individuallyorcollectively,maycastsignificantdoubtonthe charitable company'sabilitytocontinueasagoingconcernforaperiodofatleasttwelvemonthsfromwhen the financial statements are authorised for issue. ``` ``` Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribed in the relevant sections of this report. ``` ## **`Other information`** ``` Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisesthe information includedintheAnnualReport,otherthanthefinancialstatementsandourReportofthe Independent Auditors thereon. ``` ``` Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttothe extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. ``` ``` Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheother information and,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththe financial statementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.If we identifysuchmaterialinconsistenciesorapparentmaterialmisstatements,wearerequiredto determine whetherthisgivesrisetoamaterialmisstatementinthefinancialstatementsthemselves.If,basedon the workwehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation, 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: ``` - `the information given in the Strategic Report and the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and` - `the Strategic Report and the Trustees' Report has been prepared in accordance with applicable legal requirements.` ``` Page 9 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF VOLUNTARY ACTION LEICESTER KNOWN AS`** ## **`VOLUNTARY ACTION LEICESTERSHIRE (VAL)`** ## **`Matters on which we are required to report by exception`** ``` Inthelightoftheknowledgeandunderstandingofthecharitablecompanyanditsenvironment obtained inthecourseoftheaudit,wehavenotidentifiedmaterialmisstatementsintheStrategicReportand the Trustees' Report. ``` ``` WehavenothingtoreportinrespectofthefollowingmatterswheretheCompaniesAct2006requiresus to report to you if, in our opinion: ``` - `adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or` - `the financial statements are not in agreement with the accounting records and returns; or` - `certain disclosures of trustees' remuneration specified by law are not made; or` - `we have not received all the information and explanations we require for our audit.` ## **`Responsibilities of trustees`** ``` AsexplainedmorefullyintheStatementofTrustees'Responsibilities,thetrustees(whoarealsothe directors ofthecharitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparationof the financialstatementsandforbeingsatisfiedthattheygiveatrueandfairview,andforsuchinternal control asthetrusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatarefree from material misstatement, whether due to fraud or error. ``` ``` Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitable company's abilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcern and usingthegoingconcernbasisofaccountingunlessthetrusteeseitherintendtoliquidatethe charitable company or to cease operations, or have no realistic alternative but to do so. ``` ``` Page 10 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF VOLUNTARY ACTION LEICESTER KNOWN AS`** ## **`VOLUNTARY ACTION LEICESTERSHIRE (VAL)`** ## **`Our responsibilities for the audit of the financial statements`** ``` Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawhole are freefrommaterialmisstatement,whetherduetofraudorerror,andtoissueaReportofthe Independent Auditorsthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnot a guaranteethatanauditconductedinaccordancewithISAs(UK)willalwaysdetecta material misstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterial if, individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomic decisions of users taken on the basis of these financial statements. ``` ``` Irregularities,includingfraud,areinstancesofnon-compliancewithlawsandregulations.We design proceduresinlinewithourresponsibilities,outlinedabove,todetectmaterialmisstatementsinrespect of irregularities,includingfraud.Theextenttowhichourproceduresarecapableofdetecting irregularities, including fraud is detailed below: ``` ``` Theextenttowhichourproceduresarecapableofdetectingirregularities,includingfraudis detailed below: ``` ``` Weobtainedanunderstandingofthelegalandregulatoryframeworksthatareapplicableto the charitablecompanyanddeterminedthatthemostsignificantframeworkswhicharedirectlyrelevant so specificassertionsinthefinancialstatementsarethosethatrelatetothereportingframework(UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK. ``` ``` Weunderstoodhowthecharitablecompanyiscomplyingwiththoseframeworksbymakingenquiries of managementandthoseresponsibleforlegalandcomplianceprocedures.Wecorroboratedour enquiries through review of board minutes and discussions with those charged with governance. ``` ``` Weassessthesusceptibilityofthecharitablecompanyfinancialstatementstomaterial misstatement, includinghowfraudmightoccur,bydiscussionwithmanagementfromvariouspartsofthebusiness to understandwheretheyconsideredtherewasasusceptibilitytofraud.Weconsideredtheprocedures and controlsthatthehascharitablecompanyestablishedtopreventanddetectfraud,andhowthese are monitored by management, and also any enhanced risk factors such as performance targets. ``` ``` Basedonourunderstanding,wedesignedourauditprocedurestoidentifyanynon-compliancewith laws and regulations identified in the paragraphs above. ``` ``` Wealsoperformedauditworkovertheriskofmanagementoverrideofcontrols,includingtestingof journal entriesandotheradjustmentsforappropriateness,evaluatingthebusinessrationaleof significant transactions outside the normal course of business and reviewing accounting estimates for bias. ``` ``` Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedon the FinancialReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescriptionforms part of our Report of the Independent Auditors. ``` ``` Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedon the FinancialReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescriptionforms part of our Report of the Independent Auditors. ``` ``` Page 11 ``` ## **`REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL)`** ## **`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 auditors' 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.` `Dilun Mistry FCA (Senior Statutory Auditor) for and on behalf of TC Group 31 High View Close Hamilton Office Park Leicester Leicestershire LE4 9LJ` 20/10/2025 `Date: .............................................` `Page 12` ## **`VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL)`** ## **`STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 March 2025`** |`Notes`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`Charitable activities`**
`4`
`Support services for VCS groups and`
`volunteers`
`Health & social care related services`
`(adults)`
`Children, young people and families`
`services`
`Support to get people into employment or`
`training`
`Training Courses`
`Consultancy Income`
`Investment income`
`3`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
`5`
**`Charitable activities`**
`6`
`Support services for VCS groups and`
`volunteers`
`Health & social care related services`
`(adults)`
`Children, young people and families`
`services`
`Support to get people into employment or`
`training`
`Audit fees`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`As previously reported`
`Prior year adjustment`
`12`
**`As restated`**|`Unrestricted`
`funds`
`£`
`10,023`
`337,566`
`1,020,962`
`-`
`-`
`8,250`
`7,282`
`331,059`
`1,715,142`
`263,200`
`203,826`
`1,052,157`
`-`
`-`
`10,600`
`1,529,783`
`-`
`185,359`
`2,630,458`
`34,000`
`2,664,458`|`Restricted`
`funds`
`£`
`-`
`27,000`
`-`
`225,000`
`61,132`
`-`
`-`
`-`
`313,132`
`-`
`115,892`
`8,922`
`125,000`
`290,584`
`-`
`540,398`
`-`
`(227,266)`
`224,211`
`642,779`
`866,990`|`2025`
`Total`
`funds`

`£`
`10,023`
`364,566`
`1,020,962`
`225,000`
`61,132`
`8,250`
`7,282`
`331,059`
`2,028,274`
`263,200`
`319,718`
`1,061,079`
`125,000`
`290,584`
`10,600`
`2,070,181`
`-`
`(41,907)`
`2,854,669`
`676,779`
`3,531,448`|`2024`
`Total`
`funds`
`as restated`
`£`
`1,713`
`553,716`
`1,020,583`
`64,847`
`624,321`
`4,367`
`5,703`
`303,858`
`2,579,108`
`327,904`
`568,655`
`1,042,318`
`105,217`
`113,901`
`9,500`
`2,167,495`
`(100,000)`
`311,613`
`3,219,835`
`-`
`3,219,835`| |---|---|---|---|---| ``` The notes form part of these financial statements ``` ``` Page 13 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES For The Year Ended 31 March 2025`** |`Notes`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`2,849,817`|`Restricted`
`funds`
`£`
`639,724`|`2025`
`Total`
`funds`

`£`
`3,489,541`|`2024`
`Total`
`funds`
`as restated`
`£`| |---|---|---|---|---| |||||`3,531,448`| ``` The notes form part of these financial statements ``` ``` Page 14 ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) (REGISTERED NUMBER: 01357513) ## BALANCE SHEET 31 March 2025 |||2025|2024| |---|---|---|---| ||||as restated| ||Notes|Fa|£| |FIXED ASSETS|||| |Tangible asseis|14|2,332,659|2,410,884| |Investments|15|86,000|86,000| |||2,418,659|2,496,884| |CURRENT ASSETS|||| |Debtors
Cash at bank|16|615,576
813,785|869,968
627 833| |||1,429,361|1,497,801| |CREDITORS|||| |Amounis fallingdue within oneyear|17|{325,401}|(383,371)| |NETCURRENT ASSETS||1,103,960|1,114,430| |TOTALASSETS LESS CURRENT LIABILITIES||3,522,619|3,611,314| |CREDITORS|||| |Amounis falling due aftermore than one|||| |year|18|(33,078}|(79,866)| |ACCRUALSAND DEFERRED INCOME||-|-| |NET ASSETS||3,489,541|3,531,448| |FUNDS|21||| |Unrestricted funds||2,849,817|2,664,458| |Restricted funds||639,724|866,990| |TOTALFUNDS||3,489,541|3,531,448| The financial statements were approved by the Board of Trustees and authorised for issue on sustsssesapeefersueepestssergeeeeerenes. OANA WEre signed on its behalf by: B/iSTTStsS The notes form part of these financial statements Page 15 ## **`VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL)`** ## **`CASH FLOW STATEMENT For The Year Ended 31 March 2025`** |`Notes`
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`Interest paid`
`Net cash provided by/(used in) operating activities`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`Purchase of fixed asset investments`
`Interest received`
`Net cash provided by/(used in) investing activities`
**`Cash flows from financing activities`**
`Loan repayments in year`
`Net cash used in financing activities`
**`Change in cash and cash equivalents in`**
**`the reporting period`**
**`Cash and cash equivalents at the`**
**`beginning of the reporting period`**
**`Cash and cash equivalents at the end of`**
**`the reporting period`**|`2025`
`2024`
`as`
`restated`
`£`
`£`
`232,597`
`(16,629)`
`(8,472)`
`(8,472)`
`224,125`
`(25,101)`
`(2,273)`
`(88,437)`
`-`
`(86,000)`
`9,419`
`9,464`
`7,146`
`(164,973)`
`(45,319)`
`(44,042)`
`(45,319)`
`(44,042)`
`185,952`
`(234,116)`
`627,833`
`861,949`
`813,785`
`627,833`| |---|---| ``` The notes form part of these financial statements ``` ``` Page 16 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE CASH FLOW STATEMENT For The Year Ended 31 March 2025`** ## **`1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`** |**`Net (expenditure)/income for the reporting period (as per the`**
**`Statement of Financial Activities)`**
**`Adjustments for:`**
`Depreciation charges`
`Losses on investments`
`Interest received`
`Interest paid`
`Decrease/(increase) in debtors`
`(Decrease)/increase in creditors`
**`Net cash provided by/(used in) operations`**|`2025`
`2024`
`as`
`restated`
`£`
`£`
`(41,907)`
`311,613`
`80,498`
`85,764`
`-`
`100,000`
`(9,419)`
`(9,464)`
`8,472`
`8,472`
`254,392`
`(581,985)`
`(59,439)`
`68,971`
`232,597`
`(16,629)`| |---|---| ## **`2. ANALYSIS OF CHANGES IN NET FUNDS`** ||`At 1.4.24`|`Cash flow`|`At 31.3.25`| |---|---|---|---| ||`£`|`£`|`£`| |**`Net cash`**|||| |`Cash at bank`|`627,833`|`185,952`|`813,785`| ||`627,833`|`185,952`|`813,785`| |**`Debt`**|||| |`Debts falling due within 1 year`|`(45,649)`|`(1,469)`|`(47,118)`| |`Debts falling due after 1 year`|`(79,866)`|`46,788`|`(33,078)`| ||`(125,515)`|`45,319`|`(80,196)`| |**`Total`**|`502,318`|`231,271`|`733,589`| ``` The notes form part of these financial statements ``` ``` Page 17 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS For The Year Ended 31 March 2025`** ## **`1. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102, havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReporting by Charities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccounts in accordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland (FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting StandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.The financial statementshavebeenpreparedunderthehistoricalcostconvention,withtheexception of investments which are included at market value, as modified by the revaluation of certain assets. ``` ## **`Critical accounting judgements and key sources of estimation uncertainty`** ``` Estimatesandjudgementsarecontinuallyevaluatedandarebasedonhistoricalexperience and otherfactors,includingexpectationsoffutureeventsthatarebelievedtobereasonableunder the circumstances.Theprincipalestimatesandjudgementsthatcouldhaveasignificanteffect upon the charity's financial results relate to: ``` ``` Usefuleconomiclivesoftangiblefixedassets-Theannualdepreciationchargefortangible fixed assetsissensitivetochangesintheestimatedusefuleconomiclivesandresidualvaluesof the assets.Theusefuleconomiclivesandresidualvaluesarereassessedannually.Theyare amended whennecessarytoreflectcurrentestimates,basedontechnologicaladvancement, future investments,economicutilisationandthephysicalconditionoftheassets.Thecarryingamount of thetangiblefixedassetsisshowninnote13andnote1givestheusefuleconomiclivesfor each class of assets. ``` ## **`Income`** ``` AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to thefunds,itisprobablethattheincomewillbereceivedandtheamountcanbe measured reliably. ``` ## **`Donations and legacies`** ``` Giftsinkinddonatedfordistributionareincludedatvaluationandrecognisedasincomewhen they aredistributedtotheprojects.Giftsdonatedforresaleareincludedasincomewhentheyare sold. DonatedfacilitiesareincludedatthevaluetotheCharitywherethiscanbequantifiedanda third partyisbearingthecost.Noamountsareincludedinthefinancialstatementsforservices donated by volunteers. ``` ## **`Donated services and facilities`** ``` Intangibleincome,whichcomprisesdonatedservices,isincludedinincomeatavaluationwhich is anestimateofthefinancialcostbornebythedonorwheresuchacostisquantifiable and measurable. No income is recognised where there is no financial cost borne by a third party. ``` ## **`Gift aid`** ``` IncometaxrecoverableinrelationtodonationsreceivedunderGiftAidordeedsofcovenant is recognised at the time of the donation. ``` ## **`Investment income`** ``` Incometaxrecoverableinrelationtoinvestmentincomeisrecognisedatthetimethe investment income is receivable. ``` ``` LeaseincomefromoperatingleasesisrecognisedinStatementofFinancialActivitieson a straight-line basis. Government grants GovernmentgrantsrelatingtotheCoronavirusJobRetentionSchemearerecognisedinincome in the period in which it becomes receivable under the performance model. ``` ``` continued... ``` ``` Page 18 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS ``` ``` VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025 ``` ## **`1. ACCOUNTING POLICIES - continued`** ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they have been allocated to activities on a basis consistent with the use of resources. ``` ## **`Raising funds`** ``` Raisingfundsincludesallexpenditureincurredbythecharitytoraisefundsforitscharitable purposes and includes costs of all fundraising activities, events and non-charitable trading. ``` ## **`Charitable activities`** ``` Charitableexpenditurecomprisesthosecostsincurredbythecharityinthedeliveryofits activities andservicesforitsbeneficiaries.Itincludesbothcoststhatcanbeallocateddirectlyto such activities and those costs of an indirect nature necessary to support them. ``` ## **`Governance costs`** ``` Theseincludethecostsattributabletothecharity’scompliancewithconstitutionaland statutory requirements,includingaudit,strategicmanagementandtrusteemeetingsand reimbursed expenses. ``` ## **`Tangible fixed assets`** ``` Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its estimated useful life. ``` ``` Freehold property- 2% on cost Fixtures and fittings- 5% - 25% straight line ``` ``` Assetsunderconstruction-Assetsunderthecourseofconstructionareheldatcostand not depreciated until the asset has been bought into use. ``` ``` Tangiblefixedassetsotherthanfreeholdpropertiesarestatedathistoricalcostless accumulated depreciationandanyaccumulatedimpairmentlosses.Historicalcostsincludesexpenditurethat is directlyattributabletobringingtheassettothelocationandconditionnecessaryforitto be capable of operating in the manner intended my management. ``` ``` Fixed assets costing £2,000 or more are initially recorded at cost. ``` ## **`Revaluation of tangible fixed assets`** ``` Freeholdpropertyiscarriedatfairvalueatthedateoftherevaluationlessany subsequent accumulateddepreciationandsubsequentaccumulatedimpairmentlosses.Revaluations are undertakenwithsufficientregularitytoensurethecarryingamountdoesnotdiffermaterially from that which would be determined using fair value at the balance sheet date. ``` ``` Fairvaluesaredeterminedfrommarket-basedevidencenormallyundertakenbya professionally qualifiedvaluerorwhereappropriatebytheboardoftrusteesonanopenmarketvaluefor existing use basis. It is the trustees' policy to revalue every 5 years. ``` ## **`Taxation`** ``` The charity is exempt from corporation tax on its charitable activities. ``` ``` continued... ``` ``` Page 19 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`1. ACCOUNTING POLICIES - continued`** ## **`Fund accounting`** ``` Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretion of the trustees. ``` ``` Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity. Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted purposes. ``` ``` Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial statements. ``` ## **`Pension costs and other post-retirement benefits`** ``` Thecharitablecompanyoperatesadefinedcontributionpensionscheme.Contributions payable tothecharitablecompany'spensionschemearechargedtotheStatementofFinancialActivities in the period to which they relate. ``` ## **`Investments`** ``` Investmentsareshownatmarketvalueatthebalancesheetdatewithanygainorlosstakento the StatementofFinancialActivities.InvestmentsheldbytheBoardascustodiantrusteeare not included in these financial statements. ``` ``` Realisedgainsorlossesoninvestmentsarerecognisedwheninvestmentsaresold.Unrealised gains or losses are accounted for on the revaluation of investments. ``` ``` Investmentsandtheirgainsandlossesareallocatedtofundsbaseduponthenatureof the investment source ``` ## **`Financial instruments`** ## **`Classification`** ``` Financialassetsandfinancialliabilitiesarerecognisedwhenthecharitybecomesapartyto the contractualprovisionsoftheinstrument.Financialliabilitiesandequityinstrumentsare classified accordingtothesubstanceofthecontractualarrangementsenteredinto.Anequityinstrument is anycontractthatevidencesaresidualinterestintheassetsofthecharityafterdeductingallof its liabilities. ``` ## **`Recognition and measurement`** ``` Allfinancialassetsandliabilitiesareinitiallymeasuredattransactionprice(including transaction costs),exceptforthosefinancialassetsclassifiedasatfairvaluethroughprofitorloss,which are initiallymeasuredatfairvalue(whichisnormallythetransactionpriceexcludingtransaction costs), unlessthearrangementconstitutesafinancingtransaction.Ifanarrangementconstitutes a financingtransaction,thefinancialassetorfinancialliabilityismeasuredatthepresentvalueof the future payments discounted at a market rate of interest for a similar debt instrument. ``` ``` Financialassetsandliabilitiesareonlyoffsetinthestatementoffinancialpositionwhen,and only whenthereexistsalegallyenforceablerighttosetofftherecognisedamountsandthe charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. ``` ``` Financialassetsarederecognisedwhenandonlywhena)thecontractualrightstothecash flows fromthefinancialassetexpireoraresettled,b)thecharitytransferstoanotherpartysubstantially all oftherisksandrewardsofownershipofthefinancialasset,orc)thecharity,despitehaving retained some,butnotall,significantrisksandrewardsofownership,hastransferredcontroloftheasset to another party. ``` ``` Financialliabilitiesarederecognisedonlywhentheobligationspecifiedinthecontract is discharged, cancelled or expires. ``` ``` continued... ``` ``` Page 20 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`2. DONATIONS AND LEGACIES`** |`Donations and gifts`
**`3.`**
**`INVESTMENT INCOME`**
`Rental income`
`Room hire income`
`Deposit account interest`
**`4.`**
**`INCOME FROM CHARITABLE ACTIVITIES`**
`Support services for VCS groups and`
`volunteers`
`Health and social care related services`
`(adults)`
`Children, young people and families`
`services`
`Employment or training`
`Training courses`
`Consultancy income`
`Support services for VCS groups and`
`volunteers`
`Health and social care related services`
`(adults)`
`Children, young people and families`
`services`
`Carried forward`|`Support`
`services`
`for VCS`
`groups`
`and`
`volunteers`
`£`
`364,566`
`-`
`-`
`-`
`-`
`-`
`364,566`
`Training`
`Courses`
`£`
`-`
`-`
`-`
`-`|`Health &`
`social`
`care`
`related`
`services`
`(adults)`
`£`
`-`
`1,020,962`
`-`
`-`
`-`
`-`
`1,020,962`
`Consultancy`
`Income`
`£`
`-`
`-`
`-`
`-`|| |---|---|---|---| ||||| ``` continued... ``` ``` Page 21 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`4. INCOME FROM CHARITABLE ACTIVITIES - continued`** |`Brought forward`
`Employment or training`
`Training courses`
`Consultancy income`
**`RAISING FUNDS`**
**`Raising donations and legacies`**
`Staff costs`
**`Other trading activities`**
`Shared costs`
`Aggregate amounts`
**`CHARITABLE ACTIVITIES COSTS`**
`Support services for VCS groups and`
`volunteers`
`Health & social care related`
`services (adults) `
`Children, young people and`
`families services `
`Support to get people into`
`employment or training `
`Audit fees`|`Training`
`Courses`
`£`
`-`
`-`
`8,250`
`-`
`8,250`|`Consultancy`
`Income`
`£`
`-`
`-`
`-`
`7,282`
`7,282`
`Direct`
`Costs`
`£`
`319,718`
`1,061,079`
`125,000`
`290,584`
`-`
`1,796,381`|`2025`
`Total`
`activities`
`£`
`1,610,528`
`61,132`
`8,250`
`7,282`
`1,687,192`
`2025`
`£`
`241,651`
`2025`
`£`
`21,549`
`263,200`
`Support`
`costs (see`
`note 7)`
`£`
`-`
`-`
`-`
`-`
`10,600`
`10,600`|`2024`
`as`
`restated`
`Total`
`activities`
`£`
`1,639,146`
`624,321`
`4,367`
`5,703`| |---|---|---|---|---| |||||`2,273,537`| |||||`2024`
`as`
`restated`
`£`
`296,106`
`2024`
`as`
`restated`
`£`
`31,798`
`327,904`
`Totals`
`£`
`319,718`
`1,061,079`
`125,000`
`290,584`
`10,600`| |||||`1,806,981`| ## **`5. RAISING FUNDS`** ## **`6. CHARITABLE ACTIVITIES COSTS`** ``` continued... ``` ``` Page 22 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`7. SUPPORT COSTS`** |**`SUPPORT COSTS`**|| |---|---| ||`Governance`| ||`costs`| ||`£`| |`Audit fees`|`10,600`| ## **`8. NET INCOME/(EXPENDITURE)`** ``` Net income/(expenditure) is stated after charging/(crediting): ``` ||`2025`|`2024`| |---|---|---| |||`as`| |||`restated`| ||`£`|`£`| |`Audit of financial statements`|`10,600`|`9,500`| |`Depreciation - owned assets`|`80,498`|`85,764`| |`Finance charges payable`|`7,920`|`8,472`| ## **`9. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2025norfor the year ended 31 March 2024. ``` ## **`Trustees' expenses`** ``` No trustees' received reimbursed travel expenses during the year ended 31 March 2025 (2024: Nil). ``` ## **`10. STAFF COSTS`** |`Wages and salaries`
`Social security costs`
`Other pension costs`|`2025`
`£`
`1,281,604`
`109,292`
`104,754`
`1,495,650`|`2024`
`as`
`restated`
`£`
`1,232,044`
`107,087`
`129,029`| |---|---|---| |||`1,468,160`| ``` The average monthly number of employees during the year was as follows: ``` |`Charitable activities`
`Administration`
`Trading`|`2025`
`2024`
`as`
`restated`
`54`
`47`
`5`
`5`
`4`
`3`
`63`
`55`| |---|---| ``` No employees received emoluments in excess of £60,000. ``` ``` Thetotalemployeebenefitsofthekeymanagementpersonnelofthecharitywere£186,910 (2024: £179,042). ``` ``` continued... ``` ``` Page 23 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ``` 11.COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES ``` |**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
**`Charitable activities`**
`Support services for VCS groups and`
`volunteers`
`Health & social care related services`
`(adults)`
`Children, young people and families`
`services`
`Support to get people into employment`
`or training`
`Training Courses`
`Consultancy Income`
`Investment income`
**`Total`**
**`EXPENDITURE ON`**
`Raising funds`
**`Charitable activities`**
`Support services for VCS groups and`
`volunteers`
`Health & social care related services`
`(adults)`
`Children, young people and families`
`services`
`Support to get people into employment`
`or training`
`Audit fees`
**`Total`**
`Net gains/(losses) on investments`
**`NET INCOME/(EXPENDITURE)`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|`Unrestricted`
`funds`
`£`
`1,134`
`363,419`
`1,007,167`
`4,999`
`-`
`4,367`
`5,703`
`303,858`
`1,690,647`
`327,904`
`457,466`
`1,017,422`
`4,999`
`-`
`9,500`
`1,817,291`
`(100,000)`
`(226,644)`
`2,891,102`
`2,664,458`|`Restricted`
`funds`

`£`
`579`
`190,297`
`13,416`
`59,848`
`624,321`
`-`
`-`
`-`
`888,461`
`-`
`111,189`
`24,896`
`100,218`
`113,901`
`-`
`350,204`
`-`
`538,257`
`328,733`
`866,990`|`Total`
`funds`
`as restated`
`£`
`1,713`
`553,716`
`1,020,583`
`64,847`
`624,321`
`4,367`
`5,703`
`303,858`
`2,579,108`
`327,904`
`568,655`
`1,042,318`
`105,217`
`113,901`
`9,500`
`2,167,495`
`(100,000)`
`311,613`
`3,219,835`
`3,531,448`| |---|---|---|---| ``` continued... ``` ``` Page 24 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`12. PRIOR YEAR ADJUSTMENT`** ``` Prioryearadjustmentstotheyearended31March2024havebeenmadeinrelationto grant income recognition and fixed asset capitalisation. ``` ``` Anadjustmenthasbeenmadetorecognisegrantsawarded,totalling£642,779werethe income recognitioncriteriawasachievedinthepreviousyear.Thishasincreasedincomeand accrued income as at 31 March 2024 by £642,779. ``` ``` AdditionallyaboilerwaspurchasedinOctober2022whichshouldhavebeencapitalisedon the balancesheet.Thisamountedtoacostof£40,000withaccumulateddepreciationof£6,000. This has decreased expenditure and increased fixed assets by £34,000 as at 31 March 2024. ``` |||`As previously`| |---|---|---| ||`As restated`|`reported`| |`Income`|`2,579,108`|`1,936,329`| |`Expenditure`|`2,167,495`|`2,201,495`| |`Net income/(expenditure)`|`311,613`|`(265,166)`| |`Accrued income`|`717,891`|`75,202`| |`Fixed assets NBV`|`2,410,884`|`2,376,884`| |`Total funds c/fwd`|`3,531,448`|`2,854,669`| ## **`13. TAXATION`** ``` The charity is a registered charity and is therefore exempt from taxation. ``` ## **`14. TANGIBLE FIXED ASSETS`** |**`COST`**
`At 1 April 2024`
`Additions`
`At 31 March 2025`
**`DEPRECIATION`**
`At 1 April 2024`
`Charge for year`
`At 31 March 2025`
**`NET BOOK VALUE`**
`At 31 March 2025`
`At 31 March 2024`|`Freehold`
`property`
`£`
`2,150,000`
`-`
`2,150,000`
`-`
`47,778`
`47,778`
`2,102,222`
`2,150,000`|`Fixtures`
`and`
`fittings`
`£`
`349,143`
`2,273`
`351,416`
`88,259`
`32,720`
`120,979`
`230,437`
`260,884`|`Totals`
`£`
`2,499,143`
`2,273`| |---|---|---|---| ||||`2,501,416`| ||||`88,259`
`80,498`| ||||`168,757`| ||||`2,332,659`| ||||`2,410,884`| ``` ThefreeholdpropertywasrevaluedInApril2024byInnesEnglandinaccordancewith RICS Valuations - Global Standards 2017. The trustees' policy is to revalue every 5 years. ``` ``` Iffreeholdpropertyhadnotbeenincludedatvaluation,itwouldbevaluedatthe following amounts: ``` ||`2025`|`2024`| |---|---|---| ||`£`|`£`| |`Cost`|`3,060,519`|`3,060,519`| ``` continued... ``` ``` Page 25 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`14. TANGIBLE FIXED ASSETS - continued`** |`Accumulated depreciation`|`(1,321,479)`|`(1,273,701)`| |---|---|---| ||`---------------`|`---------------`| |`Net book value`|`1,739,040`|`1,786,818`| ||`---------------`|`---------------`| ``` VoluntaryActionLeicesterownsthefreeholdofthepremisesfromwhichitoperates.Thebuilding is utilisedbythecharityasitsheadoffice.Roomsareletthroughouttheyeartogenerateincome for the charity to support its activities. ``` ``` Thelandvalueelementoffreeholdpropertyhasnotbeenreadilyavailableanditisthe charity's intention to obtain this from the valuers at the next available opportunity. ``` ## **`15. FIXED ASSET INVESTMENTS`** |**`FIXED ASSET INVESTMENTS`**|| |---|---| ||`Cash and`| ||`settlements`| ||`pending`| ||`£`| |**`MARKET VALUE`**|| |`At 1 April 2024 and 31 March 2025`|`86,000`| |**`NET BOOK VALUE`**|| |`At 31 March 2025`|`86,000`| |`At 31 March 2024`|`86,000`| ``` There were no investment assets outside the UK. ``` ## **`16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Trade debtors`
`Prepayments`
`Accrued income`|`2025`
`2024`
`as`
`restated`
`£`
`£`
`175,175`
`130,366`
`15,948`
`21,621`
`424,453`
`717,981`
`615,576`
`869,968`|`2025`
`2024`
`as`
`restated`
`£`
`£`
`175,175`
`130,366`
`15,948`
`21,621`
`424,453`
`717,981`
`615,576`
`869,968`| |---|---|---| |||`869,968`| ``` continued... ``` ``` Page 26 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`** |`Bank loans and overdrafts (see note 19)`
`Trade creditors`
`Social security and other taxes`
`VAT`
`Other creditors`
`Accruals and deferred income`
**`18.`**
**`CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR`**
`Bank loans (see note 19)`
**`19.`**
**`LOANS`**
`An analysis of the maturity of loans is given below:`
`Amounts falling due within one year on demand:`
`Bank loans`
`Amounts falling due between two and five years:`
`Bank loans - 2-5 years`|`2025`
`2024`
`as`
`restated`
`£`
`£`
`47,118`
`45,649`
`58,896`
`65,787`
`24,367`
`23,139`
`45,308`
`41,605`
`34,104`
`36,175`
`115,608`
`171,016`
`325,401`
`383,371`
`2025`
`2024`
`as`
`restated`
`£`
`£`
`33,078`
`79,866`
`2025`
`2024`
`as`
`restated`
`£`
`£`
`47,118`
`45,649`
`33,078`
`79,866`|`2025`
`2024`
`as`
`restated`
`£`
`£`
`47,118`
`45,649`
`58,896`
`65,787`
`24,367`
`23,139`
`45,308`
`41,605`
`34,104`
`36,175`
`115,608`
`171,016`
`325,401`
`383,371`
`2025`
`2024`
`as`
`restated`
`£`
`£`
`33,078`
`79,866`
`2025`
`2024`
`as`
`restated`
`£`
`£`
`47,118`
`45,649`
`33,078`
`79,866`| |---|---|---| |||| |||`79,866`| ``` Bankloansaresecuredbyafixedchargeonthepropertyandattachedfixtures,plant and machinery. ``` ## **`20. ANALYSIS OF NET ASSETS BETWEEN FUNDS`** |`Fixed assets`
`Investments`
`Current assets`
`Current liabilities`
`Long term liabilities`
`Accruals and deferred income`|`Unrestricted`
`funds`
`£`
`2,332,659`
`86,000`
`1,103,908`
`(278,137)`
`(33,078)`
`(361,535)`
`2,849,817`|`Restricted`
`funds`
`£`
`-`
`-`
`325,453`
`(47,264)`
`-`
`361,535`
`639,724`|`2025`
`Total`
`funds`
`£`
`2,332,659`
`86,000`
`1,429,361`
`(325,401)`
`(33,078)`
`-`
`3,489,541`|`2024`
`as`
`restated`
`Total`
`funds`
`£`
`2,410,884`
`86,000`
`1,497,801`
`(383,371)`
`(79,866)`
`-`| |---|---|---|---|---| |||||`3,531,448`| ``` continued... ``` ``` Page 27 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`21. MOVEMENT IN FUNDS`** |`Prior`
`year`
`At 1.4.24`
`adjustment`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`94,994`
`34,000`
`Designated`
`2,243,872`
`-`
`Fixed asset reserve`
`291,592`
`-`
`2,630,458`
`34,000`
**`Restricted funds`**
`9 Newarke Street`
`207,053`
`-`
`Population Health Management`
`3,520`
`-`
`LCC Covid Safe`
`2,421`
`-`
`Randall Foundation - Children in Care`
`events`
`638`
`-`
`VALUES Kitchen`
`579`
`-`
`Integrated Care Systems`
`10,000`
`-`
`Multiply Blaby & Lutterworth`
`-`
`20,000`
`City Health`
`-`
`126,000`
`SPEED`
`-`
`-`
`Creative Futures`
`-`
`-`
`Employment hub`
`-`
`92,592`
`BUILD`
`-`
`404,187`
`224,211`
`642,779`
**`TOTAL FUNDS`**
`2,854,669`
`676,779`
`Net movement in funds, included in the above are as follows:`|`Net`
`movement`
`in funds`
`£`
`185,359`
`-`
`-`
`185,359`
`(46,892)`
`-`
`-`
`-`
`-`
`(8,922)`
`(20,000)`
`(42,000)`
`8,894`
`100,000`
`(92,592)`
`(125,754)`
`(227,266)`
`(41,907)`|`At`
`31.3.25`
`£`
`314,353`
`2,243,872`
`291,592`| |---|---|---| |||`2,849,817`
`160,161`
`3,520`
`2,421`
`638`
`579`
`1,078`
`-`
`84,000`
`8,894`
`100,000`
`-`
`278,433`| |||`639,724`| |||`3,489,541`| |||| |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`9 Newarke Street`
`Integrated Care Systems`
`Multiply Blaby & Lutterworth`
`UKSPF E9 - Oadby & Wigston`
`City Health`
`SPEED`
`Creative Futures`
`Employment hub`
`BUILD`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`1,715,142`
`-`
`-`
`-`
`27,000`
`-`
`61,131`
`225,000`
`-`
`1`
`313,132`
`2,028,274`|`Resources`
`expended`
`£`
`(1,529,783)`
`(46,892)`
`(8,922)`
`(20,000)`
`(27,000)`
`(42,000)`
`(52,237)`
`(125,000)`
`(92,592)`
`(125,755)`
`(540,398)`
`(2,070,181)`|`Movement`
`in funds`
`£`
`185,359`
`(46,892)`
`(8,922)`
`(20,000)`
`-`
`(42,000)`
`8,894`
`100,000`
`(92,592)`
`(125,754)`
`(227,266)`
`(41,907)`| |---|---|---|---| ``` continued... ``` ``` Page 28 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`21. MOVEMENT IN FUNDS - continued`** ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
`Designated`
`Fixed asset reserve`
**`Restricted funds`**
`9 Newarke Street`
`Big Lottery - YES Project`
`Big Lottery - GREAT Project`
`WiLL - Work in Live Leicestershire`
`Population Health Management`
`LCC Covid Safe`
`Randall Foundation - Children in Care`
`events`
`VALUES Kitchen`
`Integrated Care Systems`
`Multiply Blaby & Lutterworth`
`City Health`
`Employment hub`
`BUILD`
**`TOTAL FUNDS`**|`At 1.4.23`
`£`
`2,401,402`
`95,000`
`394,700`
`2,891,102`
`253,945`
`12,008`
`6,772`
`(413)`
`25,000`
`2,421`
`29,000`
`-`
`-`
`-`
`-`
`-`
`-`
`328,733`
`3,219,835`|`Net`
`movement`
`in funds`
`£`
`(51,644)`
`(75,000)`
`(100,000)`
`(226,644)`
`(46,892)`
`(12,008)`
`(6,772)`
`413`
`(21,480)`
`-`
`(28,362)`
`579`
`10,000`
`20,000`
`126,000`
`92,592`
`404,187`
`538,257`
`311,613`|`Transfers`
`between`
`funds`
`£`
`(2,220,764)`
`2,223,872`
`(3,108)`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`|`At`
`31.3.24`
`£`
`128,994`
`2,243,872`
`291,592`| |---|---|---|---|---| |||||`2,664,458`
`207,053`
`-`
`-`
`-`
`3,520`
`2,421`
`638`
`579`
`10,000`
`20,000`
`126,000`
`92,592`
`404,187`| |||||`866,990`| |||||`3,531,448`| ``` continued... ``` ``` Page 29 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`21. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
`Designated`
`Fixed asset reserve`
**`Restricted funds`**
`9 Newarke Street`
`Big Lottery - YES Project`
`Big Lottery - GREAT Project`
`WiLL - Work in Live Leicestershire`
`MENCAP - Tackling inequalities`
`Population Health Management`
`Randall Foundation - Children in Care`
`events`
`VALUES Kitchen`
`Integrated Care Systems`
`UKSPF E9 Harborough`
`Multiply Blaby & Lutterworth`
`UKSPF E9 - Oadby & Wigston`
`Anti-poverty`
`City Health`
`Employment hub`
`BUILD`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`1,690,647`
`-`
`-`
`1,690,647`
`-`
`59,848`
`78,173`
`9,369`
`3,416`
`-`
`-`
`579`
`10,000`
`8,000`
`40,000`
`18,000`
`38,297`
`126,000`
`92,592`
`404,187`
`888,461`
`2,579,108`|`Resources`
`expended`
`£`
`(1,742,291)`
`(75,000)`
`-`
`(1,817,291)`
`(46,892)`
`(71,856)`
`(84,945)`
`(8,956)`
`(3,416)`
`(21,480)`
`(28,362)`
`-`
`-`
`(8,000)`
`(20,000)`
`(18,000)`
`(38,297)`
`-`
`-`
`-`
`(350,204)`
`(2,167,495)`|`Gains and`
`losses`
`£`
`-`
`-`
`(100,000)`
`(100,000)`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`(100,000)`|`Movement`
`in funds`
`£`
`(51,644)`
`(75,000)`
`(100,000)`
`(226,644)`
`(46,892)`
`(12,008)`
`(6,772)`
`413`
`-`
`(21,480)`
`(28,362)`
`579`
`10,000`
`-`
`20,000`
`-`
`-`
`126,000`
`92,592`
`404,187`
`538,257`
`311,613`| |---|---|---|---|---| ``` The specific purposes for which the funds are to be applied are as follows: ``` ## **`9 Newarke Street`** ``` Thefundrepresentsthehistoriccostofthepropertyat9NewarkeStreet.Expenditurechargedto the fund is depreciation on the building. ``` ## **`YES project`** ``` YouthEmployabilitySupportprogrammeassistingyoungpeople(under25)inLeicester and Leicestershireintoworkortraining.TheprogrammeisjointlyfundedbyTheNational Lottery Community Fund and European Social Investment Fund. ``` ## **`GREAT project`** ``` GettingReadyforEmploymentAndTrainingprogrammeassistingfamiliesinLeicester and Leicestershireintoworkortraining.TheprogrammeisjointlyfundedbyTheNational Lottery Community Fund and European Social Investment Fund. ``` ## **`WiLL - Work in Live Leicestershire`** ``` ABuildingBetterOpportunitiesprogrammeworkingwithparticipantstomovethemcloser to employability or training via volunteering. ``` ``` continued... ``` ``` Page 30 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`21. MOVEMENT IN FUNDS - continued`** ## **`WiLL Donations`** ``` A public donation that the donor specifies must be utilised to the benefit of the WiLL project. ``` ## **`YES Donations`** ``` A corporate donation gifted for the benefit of participants of the YES project. ``` ## **`VCSE Insights`** ``` TheVCSEInsightsProjectwasaprojectthatenabledVALtospeaktoandunderstandtheneeds of ourlocalVCSgroupsduringtheCOVID-19pandemic.Informationgivenhelpedtoshape VAL servicestosupport,giveadviceandguidethelocalvoluntarysectoraswellashelpwith their urgentneeds.TheprojectwasfundedbyTheNationalLotteryCommunityFund's COVID-19 Emergency Fund. ``` ## **`Mencap - Tackling inequalities`** ``` ThefundingfromMencap'sTacklingInequalitiesFundenablesVALtosupportyoungpeople with learningdisabilitiestoparticipateinsport.Theaimistoincreaseparticipation,improvehealth and support inclusion. ``` ## **`Population Health Management`** ``` TheIntegratedCareBoard(ICB)providesfundingforPopulationHealthmanagement initiatives acrossLeicesterandLeicestershire.VALwasappointedtomanageandadministerthesegrants that support projects from local VCSE organisations meeting the need of reducing health inequalities. ``` ## **`LCC Covid Safe`** ``` VALmanagedandadministeredaLocalLockdownSupportFundonbehalfofLeicester City Council.ThefundingwasavailabletoestablishedVoluntary,Community,SocialEnterpriseand Faith basedorganisationsinLeicesterCity.FundsweretosupportactivityaroundenablingLeicester to exitlockdownandsupportVCSEorganisationsofferingfrontlineserviceswhichaddresstheneeds of the community in light of the effects of COVID-19. ``` ## **`Randall Foundation - Children in Care events`** ``` TheRandallFoundationprovidedgrantfundingtoVALfortwoCelebrationEventsforChildren in CarefromLeicestershire,enabling700looked-afterchildrenandcareleaverstohave their achievementscelebrated.Theyoungpeoplewerenominatedforanawardbyarange of professionalstorecognisethepositiveprogressiontheyhavemadeintheirlives,whichare designed to raise their self-esteem and recognise how their efforts are valued. ``` ## **`Active communities grant for 9 Newarke Street`** ``` Thefundrepresentsthehistoriccostofthepropertyat9NewarkeStreet.Expenditurechargedto the fund is depreciation on the building. ``` ## **`Employment Hub`** ``` FundedthroughLeicesterCityCounciltoworkinpartnershipwithLeicesterEmploymentHub to expandtheserviceoutintotwoCountyareas,NorthWestLeicestershireandHinckley& Bosworth. Project'saimwastobridgethegapbetweenemployersandthoseseekingemployment working with both local people seeking new opportunities and partnering with local employers. ``` ## **`BUILD`** ``` NationalLotteryFundedproject,VAListheleadorganisationworkinginpartnershipwith two additionallocalVCSEorganisationsRuralCommunityCouncilandCASE.Workinginthemost rural areaswithindividualsseekingnewskills,utilisingtheABCD(AssestBasedCommunity Development) approachtodelivercommunityactioninpartnershipwithVCSEorganisationsandthelocal business sector. ``` ``` continued... ``` ``` Page 31 ``` ``` VOLUNTARY ACTION LEICESTER KNOWN AS VOLUNTARY ACTION LEICESTERSHIRE (VAL) ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued For The Year Ended 31 March 2025`** ## **`21. MOVEMENT IN FUNDS - continued`** ## **`SPEED`** ``` ArmedForcesCovenantFundProjectacrossLeicester,LeicestershireandRutland supporting partners/spousesofservingArmedForcespersonnelempoweringthemtotakepositive steps towardsnewopportunitiesthroughemployabilityskillssupportaswellasvolunteering opportunities, and training/education. ``` ## **`Creative Futures`** ``` ProjectfundedthroughUKSharedProsperityFund,(LeicesterCityCouncil)tosupportyoung people aged18-25inLeicesterCitytogainnewskillsandconfidencethroughemployabilityskills support, accesstovolunteering,educationandtrainingand throughgainingtheArtsAward Qualification. VAListheleadorganisationinapartnershipprojectwithVCSEorganisationTheMighty Creatives (TMC) ``` ## **`ICS Collaborative Innovators`** ``` FundedthroughNHSEnglandtoworkinpartnershipwiththeIntegratedCareBoard/VCSE Alliance tohostworkshops/eventsforhealthpartners/stakeholdersandVoluntaryCommunity Social EnterpriseOrganisations.Todiscuss collaborativeinitiativesonhowtobetterimbedtheVCSE sector withintheIntegratedCareServiceacrossLeicester,LeicestershireandRutland.Bettersupporting the local community and achieve better health and well-being outcomes. ``` ## **`22. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31 March 2025 and 31 March 2024. ``` ``` Page 32 ```