Draft Financial Statements at 02 December 2024 at 00:35:34 Charity registration number 514311 Company registration number 01570120 (England and Wales) HULLCOMMUNITY AND VOLUNTARY SERVICES GROUP ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP LEGAL AND ADMINISTRATIVE INFORMATION Trustses Mr A M Dorton Mr J Slater Ms V Scarborough MsLETock Secretary Mrs H Grimwood Charity number 514311 Company number 01570120 Registered office The Strand 75 Beverley Road Hull East Yorkshire England HU3 1XL Auditor Rackhams Accountants Limited 3 Melton Enterprise Park Redcliff Road Melton East Yorkshire England HU14 3RS
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP CONTENTS Page Trustees, report Stalemenl of Iruslees, responsibilities Independent auditorfs report 10-12 Statement of financial activities 13 Balance sheet 14-15 Statement of cash flows 16 Notes lo Ihe financial stalements 17-32
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial slalements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 1021" (effective 1 January 20191. Objectives and activities The purpose of the charity is to support the developmenl and sustainability of the voluntary and community sector., lo bring together voluntary and community organisations with statutory. public and private sector partners- and lo deliver projects that support local residents and communities. The trustees have referred to and paid due regard to the Charity Commission's general guidance on the public benefit when reviewing the charity's aims and objectives and in planning future activity- PubliG benefit The trustees have paid due regard to guidan issued by the Charity Commission in deciding what activities Ihe charity should undertake. Achievements and perfomiance Significant activities and achievements against obJectlV8S Volunta and Communi Sector Infrastructure Su ort Sector Connect Hull We are pleased to continue delivering voluntary sector infrastructure support in Hull. In partnership with Forum CIO, we have been funded by Hull City Council lo develop the Sector Connect service. This service provides anyone who volunteers, governs or works for a local VCSE organisation with free impartial advice, guidance, information and safeguarding support. as well as sector specific training. Since its launch the team has invested over 1000 hours across 133 governance related sessions. Members Services Alongside the external funding being granted for Sector Connect, the Board of truslees have continued to uphold their annual commitment from reserves to the delivery of VCSE Infrastruclure support. This has meant we have been able to dedicate further capacity and offer a broader range of support through two funded positions. Our Funding and Grants Officer supports the sector in identifying new funding opportunities and supports groups in understanding funding requirements,. and our Communications and Development Lead provides support in a range of digital and communications solutions that helps organisations streamline their operations and better demonstrate the impacl of their work. This overall increased capacity has also enabled us to offer greater synergy and a more joined up service across our operations., build a greater presence wilh VCSE and public sector partners., as well as enabling us to be further involved in local partnerships and slfategic developments. Nefvlorks & Partnerships The Be Connected Network (previously known as the Loneliness Network) continues lo bring iogether cross sector organisalions to systematically develop approaches lo tackle loneliness in the city. Hull CVS has recently started chairing the Hull Engagers Network which brings cross sector agencies together to increase the effectiveness of public engagement and enhan collaboration. The Community Centre NeOrk has also been launched this year by Hull CVS and Hull City Council and brings together and encourages collaborative working between Community Cenlres in Hull. Hull CVS also continues to be an active participanl and contributor to Ihe workstreams that have evolved from the Building Forwards Together programme, NHS Health Champions, Older People's Partnership, the Police Independent Advisory Group, Hull Voice and Influence Partnership, and the Humberside VCSE Local Resilience Sub Group.
Draft Financial Ststements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Volunteerin Volunteer Centre Following the success of achieving the NAVCA Volunteer Cenlre Quality Accreditation in 2022 we were delighted to achieve further accreditation in 2024 by achieving the Investing in Volunteers Award. This award is a quality framework th81 demonslrales best practice in volunteer involvemenl and management. Hull CVS will hold the award for three years before the need lo reapply to continue meeting the standard. As the accredited volunteer Genlre for Hull. it is an importanl award lo achieve to lead the way in volunteer management. Achieving the standard shows our volunleers, and potential volunteers, how much they are valued and gives them confidence in our ability to provide an outstanding volunteer experience. Time2Volunteer Delivered in partnership with the HEY Smile Foundation, this year we conlinued to enhance the Time2Volunteer platform and partnership. Time2Volunteer is a bespoke volunteering plalform launched in October 2022, created with support from public, private and voluntary sector partners who invest in, value and celebrate volunteers. The aim of this platform is to address local needs and to simplify the process of volunleering, for both volunteers and voluntary organisalions. Beeen April 2023 and March 2024, a total of 469 volunteering opportunities were identified for participanls, wilh 291 accessed directly through Time2Volunleer. Volunteer Managers and Coordinators Netsvork The Volunteer Managers and Coordinalors Network continues to be an invaluable asset to the VCSE sector. In addition to sharing important updates to Ihe network and encouraging conversation beeen organisations, the arena has also been adapted lo provide opportunity for organisalions to collaborale and Share information with members with a view for Ihis to be promoted to the wider sector through each member's individual associations. Scoping of Volunteering Practices within Yorkshire & Humber During this year, Hull CVS was commissioned again by the Humber and North Yorkshire Health and Care Partnership lo build on the research conducted in the previous year, around volunteering practices within Health and Social care. This year the focus of Ihe work has been on practices spe¢ifi¢ally wilhin social care, and the previous year's framework has been extended to include the findings of this work. Know Your Neighbourhood Fund Expanding on our work in previous years through the Be Connected NetOrk, Hull CVS secured funding from the Department for Digital, Culture, Media and Sport's . Know Your Neighbourhood. Fund, lo help reduce loneliness and Ihe impact of loneliness across the city. As part of thi5 funding, Hull CVS launched a Loneliness Conference in November 2023 which invited or9anisations across Hull and East Riding of Yorkshire to come together to explore the factors that cause loneliness and the work being undertaken lo address these issues. Grants Pro rammes Funded by the Sir James Reckitt Charily and the Hull and East Riding Charitable Trust, Hull CVS administers small grants lo voluntary and communily sector organisations delivering support to the local community of Bransholme, by way of 'The Bransholme Trust,. This year, the Hull & East Riding Charitable Trust provided additional funds to support groups delivering extra activity in relation to the cost of living crisis. As a result of this funding, we were able to expand our criteria and grant award, and awarded our highest ever number of grant payments, totally 25 applications and £17,711 in funds. Again funded by the Sir James Reckitt Charity. Hull CVS administers the 'Starter Granls, programme for small organisations during their sel up period. Applications lo this fund have now returned to their pre pandemic level5. This year we have seen a variety of new groups slart up under this theme, ranging from support to the Ukrainian community, SUPPOrt to families with additional needs, and women's wellbeing activilies. Since 2017, Hull CVS has provided grant administration support to the Hull Aid in Sickness Trust (HAIST). HAIST fund ilems to eligible individuals who are sick or are recovering from illness and have no other means of accessing vital items. In addition to providing grants administration, Hull CVS also prepares all accounts and financial statements. as well as advising on charitable compliance.
Draft Financial Ststements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 erational Su ort Office Accommodation Over the last year, Hull CVS has welcomed new tenants lo our office spaces as well as new and reluming customers for our room hire Servi across both of our sites, The Strand on Beverley Road and Centre 88 on Anlaby Road. Room Hire & Training Facilities During this year we have seen a gradual increase in our room hire facilities, with use retuning io near pre-pandemic levels. Across our siles we continue to offer a ohoice of 6 training rooms and 5 interview rooms suitable to different audience levels. layouts and use. VCSE Payroll ServÈce Hull CVS provides high quality payroll support to a number of small organisalions and local charities. There are currently 34 groups who receive payroll support from Hull CVS, employing 167 employees beeen them. Within this lasl year, 2 groups previously supported by Hull CVS have grown and developed in such a way that they became empowered lo produce their payroll in-house. Communi Provision Direct Payments Payroll SeNice Under a grant agreemenl from Hull City Council, a payroll service is provided lo individuals in reIpl of a Direct Payment and who employ a carerlpersonal assistant. During the financial year, over 600 individuals have been supported, providing payroll services to over 800 Personal Assistants. Healthwat¢h Hull During 2023124 Heallhwalch Kingston upon Hull spoke to 1,404 people who shared their personal experiences of health and social care services. Alongside this we helped 13,529 people to navigate Ihe health and social care syslem through our information and signposting function. We had a busy year working on a project lo understand the access to and experience of ambulance SeiceS for people experiencing homelessness. Over a period of 24 weeks, we carried out engagement with Yorkshire Ambulance Service staff, stakeholders and people experiencing homelessness in Hull to produce a report which provides a 360 degree view of the issue. The report has been shared with Yorkshire Ambulance Servio and other stakeholders who have committed to improvements and we will be meeting with them on a regular basis to monitor, observe and support progress. In the spring Heallhwatch Hull supported Hull Cily Council with the My Life survey where over 100 people came forward to tell us about the changes they would like lo see within health¢are services in Hull. This helped lo shape the future of service delivery for Hull residents. In August 2023, the CQC published a report on Maternity services at Hull Royal Infirmary (HRII, rating the service as inadequale. Heallhwalch Kingston upon Hull and Heallhwatch East Riding of Yorkshire worked togelher on a project lo understand the experiences of palients who have used the seNice. Our report and recommendalions have been shared with Hull University Teaching Hospilals Trust who have fesponded to our recommendalions and ommitted lo conlinuous improvement within Ihe service. Health Captains Health Captains programme is an initiative to identify ways that volunteering Gan help reduce pressures on NHS services and empower people in their health and care journey. Additionally, the Health Caplains programme began direct service delivery in 2023-2024.Following extensive mapping, we identified a gap in support for people with long term conditions when discharged from hospital, from this we developed our long-term conditions buddy seNice. Within ils first month, our volunteers supported 14 people to self-manage their conditions better and avoid hospital re admittance.
Draft Financial Ststements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Hull Food Partnership In October 2023, we were delighted to welcome Hull Food Partnership into our organisation. The decision was taken as part of our new strategic approach whereby we utilise the strength of our organisation's infrastructure, lo provide inlensive support to vital causes within the city which may not be able to remain viable in Ihe short term on their own. The team have settled in well and worked extensivety to engage with key stakeholders across the city in the development of the Hull Food Strategy and creation of a Hull Food Action Plan. The action plan will deliver a six-pronged approach lo improving the food environment in Hull with an emphasis on access lo tasty, nutritious food thal is available to all, regardless of background or income. The six areas of action cover.. policy and strategy, public engagement in good food citizenship, tackling ill-health and poverty through healthy and affordable food, supporting local businesses to improve their food offer and drive inward investment, look at supply chains and procurement to improve the availability of locally produced food, and to tackle the climate crisis Ihrough the provision of food that does nol negatively impact people or the planet and an end lo food waste. This is a five-year programme ofwork and will develop over time. Subsidia Amis In 2010 the trustees decided to diversify into alternative markets and geographical areas, lo support the longer term sustainability of the charity. These primary areas of diversification have reached a level of maturity whereby they have repaid the initial financial investment made by Hull CVS and are consistently generating a surplus which is donated to Hull CVS lo support thé charity's core objectives. Meetin New Horizons CIC Meeting New Horizons CIC are a wholly owned subsidiary, set UP lo deliver community based activity in the wider Yorkshire & Humber region. In the year to 31 March 2024 the company had achieved lurnover of £792.428 and generated a surplus of £139,845. Programmes delivered under Meeting New Horizons include.. Doncaster Macmillan Benefit Advice and Advocacy Service Delivered by a team of advisors and volunteers, the service acts a one-stop-shop for people affected by cancer to access independent and confidential advice and information. The service supports people from the point of diagnosis throu9h treatment and onwards, and provides advice on welfare benefits and entitlements. offers advocacy and support at benefit Tribunals, and provides access to Macmillan and other charity granls. This programme has been running since January 2014 and is currently funded lo December 2024. During the last 12 months the service has supported 961 families affecled by canr helping them to access the slate benefits and grants they are entitled to. Healthwatch East Riding Meeting New Horizons has held this conlract since its inception in 2013, wilh the current Contra in place up until March 2026. During 2023124 Heallhwatch Easl Riding spoke lo 192 people who shared their personal experiences of health and social care services. Alongside this we helped 871 people to navigate the health and social care system Ihrough our information and signposling function. In 2023, we relaunched Ihe Community Partnership Programme. This involved collaborating with several organisations across East Riding to combine their voices, inflltence positive change, and share resources and contacts. So far, 11 voluntary and community organisations have signed up to help feed information into the East Riding VCSE Collaborative. This joinl voice continues to hold services to account and ensures Ihat we reach into the groups that need us the most. During the last financial year Healthwalch East Riding explored issues around access lo pharmacy setvices, particularly in the Collingham area where a local pharmacy had closed down. We investigated the impact of this on the local community and made recommendations that led to a new pharmacy being contracted in the area.
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Healthwatch North Lincolnshire Again, Meeting New Horizons has held Ihis contract since its InpIlOn in 2013, and after a contract re-award last year, this contract has the potential to run to January 2027. During 2023124 Heallhwalch North Lincolnshire spoke to 192 people who shared their personal experiences of health and social care services. Alongside this we helped 871 people to navigate the health and social care system through our information and signposting function. During 2023. Continence seNices in North Lincolnshire were provided by community services, as part of the NLAG hospital trusl. We received feedback from a number of SoUrS thal suggested the provision of continence products was not meeting the needs of local people. We worked with the hospital trust to 9alher patient experiences of accessing the service and produced a report with recommendations. Healthwat¢h North East Lincolnshire Meeting New Horizons has held this contract Sin 2018. In 2023, we were asked by North East Lincolnshire council lo support the recommissioning of care at home services by finding out first hand from service users about what works well for them and what would need lo be changed lo improve the offer. This opportunity also allowed us to understand the issues the providers of support at home services are facing as demand for support continues to increase. We engaged with existing service users and their carers and through our in-depih conversations were able to make robust recommendations which have now been used to shape the new offer for vulnerable people in North East Lincolnshire. North Lincolnshire Children's Direct Payments Advice and Payroll Service Meeting New Horizons have delivered this service since 2018, In addition to payroll provision, the service provides full end to end fecruitmenl and HR support and guidance for the users of the Direct Payment system for children in North Lincolnshire. There are currently 36 families in North Lincolnshire receiving support from MNH, employing 56 Personal Assistants beeen them. Over the last year, as the children receiving care reach 18 years old and transition into Adult serViS, more and more families are choosing to keep their Direct Payment support with Meeting New Horizons having had such a positive experience. Rainbow Nurse Hull CVS first acquired Rainbow Nursery in 2012, when the setting was at risk of closure. Recognising Ihe detriment this closure would have on the communities who relied upon it for access lo locally based community childcare, Hull CVS look the bold decision to acquire the setting and sel to work to ensure this asset lo the community remained. Since then, the setting has gone from strength to strength., so much so thal Hull CVS opened a second setting, Rainbow Preschool in 2017. Since this time, Hull CVS has secured a posilion of strength and sustainability for bot settings, which this year accumulated in Rainbow being re-awarded with a 'Good' rating in its most recent Ofsted inspection,. the first to have taken place in Ihe setting since 2018. Over the last years, demand for our core charitable services has never been so high, with more and more causes and volunteers in need of our charity's support. In light of this, and upon assessing that we as an infrastructure charity have developed the settings as far as we could, our Board of Trustees took the decision that now is the right time lo rehome Rainbow Nursery and Pre School with another provider who could not only continLte our ethos, bul to also build on it further. It was extremely important to the Board that Rainbow went to the right home., one Ihat remained in the charity sector and who shared our vision to deliver lop class childcare with a community focus. During the past year we sel out lo find a buyer for the nursery and preschool that would continue and build on the ethos that we had worked so hard to achieve since acquiring both settings. Towards the end of 2023, Hull CVS were delighted lo agree the sale of the Nursery and Preschool lo Child Dynamix, a Specialist childcare and family services charity that already has three established nurseries in the city. In addition to their nurseries, they also provide a range of other child focussed services and bring extensive expertise and recognition in this area. All employees and assets transferred to Ihe new provider as part of the sale. The funds raised from Ihe sale will be reinvested in to the core charity lo further the delivery of our charitable objectives. and support our vision lo extend incubatory support to new and developing voluntary sector organisalions in Hull.
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review The trL¢slees' decision to diversify into alternative markets and geographic areas has proved to be a major factor in the continued growth of Hull CVS. Both Meeting New Horizons and Rainbow Nursery have now repaid their financial commitments lo Hull CVS and are now in a position lo donate to Hull CVS, supporting the charity's core objectives. The group is in a position of stability and is in a position to commit annual conseculive resources the core objectives of the charity. to delivering The estates portfolio of the Strand and Centre 88 has created a significant asset base, providing Hull CVS with bvo freehold properties with a combined book value in excess of £815k according to new valuations conducted during 2023. Going concgm The trustees continue to be confident thal both the charity, operating in its own right and its trading subsidiaries will achieve their forecasts for the next twelve months. The trustees are also aware of their continued dependence on the grants and conlracts issued from the Public Sector and continue lo seek other forms of income by maximising their resources and infrastructure. R8S8rves policy General funds are to be retained and re-invested in accordance with the Company's Memorandum and Articles of Association and the charity's objectives. The trustees have examined the charity's requirements for reserves in the light of the main risks to the organisalion. The aspiration 15 to maintain a general reserve of unrestricted funds sufficienl to meet al least three months running costs, and to also be responsive lo any major needs arising from our e51ale's portfolio. Major risks Risk Management The trustees have a duty lo identify and review the risks to which the charity is exposed and to ensure that appropriate controls are in place. The Gharity has formalised the process of risk management through the use of a risk register adopted by the trustees and is reviewed on a regular basis. A performance monitoring process, based on an exception reporting system, hi9hlighls areas of risk in service delivery. Plans for future periods The fulure plans for the organisation during 2024125 include.. -Pulting our refreshed strategy for Hull CVS and our subsidiaries into practice. -Re-securing contracts for current services that are due for re-lender in the coming year. -concluding the delivery of a number of short term grants programmes. -Increasing the office renlal and Iraining provision occupancy across our estates. -To continue delivery of intensive embryonic and incubatory support to voluntary sector organisations.
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure. governance and management The charity is controlled by its governing document, a deed of Irusl, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The organisation is a charitable company limited by guarantee, incorporaled on 5 June 1981 and registered as a Charity on 10 October 1983. The company was eslablished under a Memorandum and Articles ofAssocialion which established the objectives and powers of the charitable company and is governed under its Articles of Association. In the event of the Company being wound up its members are required lo contribute an amount not exceeding £1. The governing document for the organisation was refreshed in 2022, to bring It up to date with current legislation and Charity Commission guidelines. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial stalemenls were-. MrA M Dorton Mr J Slaler Ms V Scarborough MsLETock Recruitment and appointment of trustees The directors of the company are also Charity trustees for the purpose of charily law and under the company's, articles are known as the Executive Committee. A third of members of the Executive Committee retire by rotation at each Annual General Meeting. If the vacancy arising from retiring rotation is not filled. the Board member can stand for re-appointment. New members of the Executive Committee are generally elected from within the membership of the charity. Trustees can also be co-opted to supply additional expertise not found wilhin the membership, following a recruitment prOsS in which we reach out to our neOrk of relationships and Ihrough formal advertisements. The membership of Ihe Board of Iruslees seeks lo reflect the diversity of the membership from the voluntary sector and slalulory partners. It also seeks to maintain a relevant skill mix within the Board of Trustees in order lo be able lo fulfil its duties as a trustee body. The Board of Trustees are responsible for the overall govemance and strategic direction of Hull CVS, developing the organisation's aims, objectives and goals in accordance with the Memorandum and Articles of Association, and legal and regulatory guidelines-, and for reviewing the activity of the charity. Organisational structure The Executive Committee meet at least quarterly and are responsible for the stralegic direction of the ¢harity. The Chief Executive is appointed by the Trustees to manage the day to day operations and finance of the charity. A represenlative from the management executive acts as a Company Secretary and sits on the Execulive Committee but has no voting rights. Induction and training of trustees A trustee induction pack has been prepared for new trustees. This includes information on the roles and responsibilities of charity trustees, drawn from Charity Commission publications and a specific trustees role description drawn up by Hull CVS. New Iruslees are invited to undertake a short training session with the Chief Executive in order to understand Ihe work of the charity and their role within it. Truslees are éncouraged to undertake further Iraining and also receive regular updales from the Charity Commission about issues relating to their role as trustees. Auditor In accordance with the company's articles, a resolution proposing that Rackhams Accountants Limiled be reappointed as auditor of the company will be pul at a General Meeting.
Draft Financial Ststements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The trustees, report was approved by the Board of Truslees. -f6fL Mr J Slater Trustee Dale: 07...1..17./..Z.<
Draft Financial Statements at 02 December 2024 at 00:3S:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The tmstees, who are also the directors of Hull Community and Voluntary Services Group for the purpose of company law, are responsible for prepanng 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 slatements for each financial year which give a true and fair view of Ihe stale of affairs of the charity and of the incoming re50Ufces and application of resources, including the income and expenditure, of the charitable company for Ihal year. In preparing these financial statemenls, the trustees are required to.. select suilable accounting policies and then apply them consistenlly., observe the methods 2nd principles in the Charities SORP-, make judgements and estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards have been followed. subject lo any material departures disclosed and explained in the financial statements., and prepare the financial statemenls on the going concern basis unless il is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with Ihe 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.
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HULL COMMUNITY AND VOLUNTARY SERVICES GROUP Opinion We have audited the financial statements of Hull Community and Voluntary Services Group (the 'charity') for the year ended 31 March 2024 which comprise the stalemenl of financial activities, the balance sheel, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepied Accounting Praclice). In our opinion, the financial slalements.. give a true and fair view of the state of the charilable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance wilh the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI (ISAS {UK)l and applicable law. Our responsibilities under those standards are further described in the Auditoffs Trsponsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the elhical requirements that are relevant to our audit of the financial slalements in the UK, including the FRC'S Elhical Standard, and we have fulfilled our other ethical responsibilities in accordance with Ihese 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 thal the trustees, use of the going concern basis of accounting in the preparation of the financial statement5 is appropriate. Based on the work we have perfomied, we have not identified any malerial uncertainties relating lo events or conditions Ihal, individually or collectively, may cast significanl doubt on the charity's ability to continue as a going concern for a period of at least e1ve monlhs from when the financial statements are authorised for issue. Our responsibililies and the responsibilities of the trustees with respect to going concern are described in the relevanl sections of this report. other inforniation The other information comprises the infomiation included in the annual report other Ihan the financial stalemenls and our audilor's report thereon. The trustees are responsible for the other informalion contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistenl wilh the financial slatements or our knowledge oblained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether Ihis gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is material misstatemenl of Ihis other information, we are required to report thal fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which Ihe Charities (Accounts and Reports) Regulations 2008 require us to report lo you if, in our opinion.. the information given in the financial statements is inconsislenl in any material respect with the trustees, report., or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records-, or we have not received all the information and explanations we require for our audit. 10
Draft Financial Ststements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HULL COMMUNITY AND VOLUNTARY SERVICES GROUP Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible fof the preparation ol the financial statements and for being satisfied that Ihey 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 misslatemenl, whether due to fraud or error. In preparing the financial stalemenls, the truslees are responsible for assessing the charity's ability to continue as a going cOnrn. disclosing, as applicable, matters related lo 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 lo do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, whether due lo fraud or error, and lo 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 wilh ISAS (UK) will always detect a material misstatement when il exisls. 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 stalemenls. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line wilh our responsibilities, oullined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecting irregularities, including fraud, is detailed below. As part of our planning process.. We enquired of management the systems and controls the company has in place, in the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether Ihere was any known, suspected, or alleged fraud. We obtained an understanding of the legal and regulatory frameworks applicable to the company and we determined that the following were most relevanl.. FRS 102, Companies Act 2006, Health and Safely at Work Act and Employment Law. We considered the incentives and opportunities that exist in the company, including the extent of management bia5, which present a potential for irregularities and fraud lo be perpetrated, and tailored Ouf risk assessment accordingly. Using our knowlédge of the company, together Wlth the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatemenl due to irregularities, including fraud, and tailored our procedures aKording to Ihis risk assessment. 11
Draft Financial Ststements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF HULL COMMUNITY AND VOLUNTARY SERVICES GROUP The key procedures we undertook to detect irregularities including fraud during the course of the audit included: Identifying and lesting journal entries and the overall accounling records. In particular. we tested items that were significant and unusual. Reviewing the financial slalement disclosures and determining whether accounting policies have been appropriately applied. Reviewing and challenging the assumptions and judgements used by management in their significant accounling eslimates. In particular, we considered going ¢oncem and impairment of trade debtors. Assessing the extent of compliance, or lack of, with the relevant laws and regulations. Testing key revenue lines. Performing physical verification of key assets. Obtaining Ihird party confirmation of material balances. DoGumenling and verifying all significant related party balances and transactions. Reviewing documenlation such as the company board minutes. correspondence with solicitors, for discussions of irregularities including fraud. Owing to the inherent limitations of an audit, Ihere is an unavoidable risk that we may not have deleGted some material misslalements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests wilh the directors. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 wwiv.frc.org.uklauditorsresponsibilities. This description forms part of our audilorfs report. Use of our report This report is made solely to the company's members, as a body, in accordance wilh section 391 of the Companies Acl 2014. Our audit work has been undertaken so that we might stale to the company's members those matters we are required to slate to them in an aL6dilorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the company and the company's members as a body, for our audit work, for this report. or for the opinions we have formed. Mr Trevor Rackham FCCA (Senior Statutory Auditor) for and on behalf of Rackhams Accountants Limited Chartered Certified Statutory Auditor 3 Melton Enterprise Park Redcliff Road Melton East Yorkshire England HU14 3RS Rackhams Accountants Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appoinlmenl as auditor of a company under section 1212 of the Companies Act 2006. 12-
Draft Financial Ststements at 02 December 2024 at 00.'35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 176,751 2,486,123 5,565 59,290 236.041 81,562 2,567,685 5,565 129,332 2.508.390 2,954 55.000 184,332 2,508,390 2,954 Total income 2,668,439 140,852 2,809,291 2,640,676 55.000 2,695,676 Expenditure on: Charitable activities 2,503,661 93.724 2,597,385 2,403.941 47,623 2,451,564 Totsl expenditure 2,503,661 93,724 2,597,385 2,403,941 47.623 2,451,564 Nel gainslllosses) on investments 11 50,000 50,000 Net income 164,778 47,128 211,906 286,735 7.377 294,112 Other recognised gains and losses: Revaluation of tangible fixed assels 55,000 55,000 Net movement in funds 164,778 47.128 211,906 341.735 7,377 349.112 Reconciliation of funds". Fund balances at 1 April 2023 1,256,569 22,803 1,279,372 914.834 15,426 930,260 Fund balances at 31 March 2024 1,421,347 69,931 1,491.278 1,256,569 22,803 1.279,372 The statement of financial activities includes all gains and losses recognised in the year. All income anij expenditure derive from continuing activilies. 13
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investment property Investments 13 14 15 490,000 325,000 491,440 325,000 815,003 816,443 Current assets Debtors Cash at bank and in hand 16 311.056 815.835 290,316 840,059 1,126,891 1,130,375 Creditors: amounts falling due within one year 18 (371,110) {512,273) Net current assets 755,781 618,102 Total assets less current liabilities 1,570,784 1.434,545 Creditors: amounts falling due after more than one year 19 (50,939} Defined benefit pension liability 21 (79,506} (104,235) Net assets 1.491,278 1,279,371 The funds of the charity Restricted income funds Unrestricted funds 22 23 69,931 1,421,347 22,802 1,256,569 1,491,278 1,279,371 14-
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2024 The company is enlilled lo the exemption from the audil requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried oul under section 144 of Ihe Charities Act2011. The directors acknowledge their responsibililies for complying with the requirements of the Cornpanies Act 2006 wilh respect to accounting records and the preparation of financial statements. The members have not required Ihe company lo obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance wilh section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial slatemenls were approved by the trustees on Mr J Slater Trustse Company registration number 01570120 (England and Wales) 15-
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 26 22,475 344,394 Investing activities PrOedS from disposal of langible fixed assets Inve5tmenl income received 1,152 5,565 2,954 Net cash generated from investing activities 6,717 2,954 Financing activities Repayment of bank loans 159.2701 (8,340) Net cash used in financing activities 159,270) 18,340} Net Idecreasellincrease in cash and cash equivalents 130,078) 339,008 Cash and cash equivalenls at beginning of year 840,059 501,051 Cash and cash equivalents at end of year 809,981 840,059 Relating to: Cash al bank and in hand Bank overdrafts included in creditors payable within one year 815,835 840,059 15,854} 16-
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Hull Communily and Voluntary SeNices Group is a private company limited by guafanlee incorporated in England and Wales. The registered office is The Strand, 75 Beverley Road, Hull, East Yorkshire, HU3 1XL, England. 1.1 Accounting convention The financial slalements have been prepared in accordance with the charity's Igoverning documentl. the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their acwun15 in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 2019). The harily is 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 slalements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convenlion, Imodified to include Ihe revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. 1.2 Going concern Al the time of approving the financial statements, the Iruslees have a reasonable expectation that the charity has adequate resources to continue in operational exislence for the foreseeable future. Thus the trustees continue lo adopt the going concern basis of accounting in preparing the financial slalemenls. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitabSe objectives. Restricted funds are subject lo specific conditions by donors or granlors as lo how they may be usèd. The purposes and uses of Ihe restricted funds are set oul in the notes to the financial 51alemenls. Endowmenl fund5 are Subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entilled to it after any performance conditions have been met. the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipl. Other donalions are recognised On the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relalion to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known. and receipt is expected. If the amount is nol known, the legacy is treated as a contingent asset. 17-
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or construclive obligation to transfer economic benefit to third party, it is probable that a transfer of economic benefils will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The oosts of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs altribulable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity 2nd support costs which are not attributable to a single activiiy are apportioned beeen those activities on a ba51S consistent with the use of reSoUrs. Central staff costs are allocated on Ihe basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are inilially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Plant and equipment Computers Nol deprecialed 5 years slraight line 3 years straight line The gain or loss arising on the disposal of an asset is delemiined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial adivities. 1.7 Investment property Investment property, which is property held lo earn rentals andlor for capital appreciation, is initially recognised al cosl, which includes the purchase cosl and any directly altributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revalualion is recognised in profit or loss. 1.8 Fixed asset investments Fixed asset investments are initially measured al transaction price excluding transaction costs, and are subsequently measured al fair value at each reporting dale. Changes in fair value are recognised in nel incomel{expenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charity. Control is the power lo govern the financial and operating policies of the enlity so as to obtain benefits from its activities. 1.9 Impairnient of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whelher there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimaled in order to determine the extent of the impairment loss (if any). 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in Current liabililies. 18
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.11 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments15sues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of Ihe instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial slatements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability simultaneously. 8asic financial assets Basic financial assets, which include debtors and cash and bank balan$, are initially measured at transaction price including transaclion costs and are subsequenlly carried al amortised cosl using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured al the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing iransaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable wilhin one year are not amortised. Debt instruments are subsequently carried at amortised cost, using Ihe effective interest rate method. Trade creditors are obligalions to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognifion of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday entitlemenl is recognised in the period in which the employee's services are received. Termination benefils are recognised immediately as an expense when the charity is demonstrably committed to lerminale the employmenl of an employee or to provide termination benefits. 1.13 Retirement benefits The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial advice. The change in Ihe net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as incurred. 19-
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) The net inlerest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of conlribution and benefit payments. The net interest is reco9nised in incomellexpenditure) for the year. Remeasuremenl changes comprise actuarial gains and losses, the effect of the asset lling and the return on the nel defined benefit liability excludin9 amounls included in nel inteiest. These are recognised immediately in other recognised gains and losses in the period in which they occur and are not reclassified lo incomel (expenditure} in subsequent periods. The net defined benefit pension assel or liability in Ihe balance sheet comprises the lolal for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bond5). less the fair value of plan assels oul of which the obligations are to be settled direclly. Fair value is based on mafkel price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limiled lo the amount that may be recovered either through reduced contributions or agreed refunds from Ihe scheme. Critical accounting estimates and judgements In the application of the charity's accounting policies, the truslees are required lo make judgements, estimates and assumptions about the carrying amounl of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. The eslimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounling eslimales are reoognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. In¢ome from donations and legacies UnrestriGted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Grants 176.751 59,290 236,041 129,332 55,000 184,332 Grants Sif James Reckitt Charity Hull & East Riding Charitable Trust Two Ridings Community HAIST Renew Community Fund Hull Eco Park NHS England Olher 14,500 14,500 24,900 8,000 32,900 10,000 10,000 95,634 6,898 37,000 40,470 40,470 95,634 6.898 37,000 20,000 90.000 26,281 20,000 90,000 71,071 44,790 1,900 1,900 176,751 59,290 236,041 129,332 55.000 184,332 -20-
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restrictsd funds funds 2023 2023 Total 2024 2023 Charitable Activity Income Central Government Local Government Services Recharged Other third sector bodies 320,154 249,295 664.658 79,519 320,154 249,295 746,220 79,519 871,164 198,000 498.180 671,164 198,000 498,180 81,562 Income from Subsidiary Rainbow Nursery (Hull) Limited MNH Meeting New Horizons CIC 461,961 461.961 486,890 486,890 710,536 710,536 654,156 654,156 2.486.123 81,562 2,567.685 2.508,390 2,508.390 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Intere51 receivable 5,565 2,954 21
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on charitable activities Charitiable Expenditure Activity from Expenditure Subsidiary 2024 2024 Total Charitiable Expenditure Activity from Expenditure Subsidiary 2023 2023 Total 2024 2023 Direct costs Staff cost5 Depreciation and impairment Premises and operaling Gosts Bad Debts Rainbow Nursery (Hull) Limited MNH Meeting New Horizons CIC Profiv (loss) on disposal of langible fixed asests Profit (loss} on sale of discontinued activity 572,022 572,022 475,999 475,999 288 288 360 360 1,063,946 4,630 1,063,946 4.630 924,102 924,102 492,172 492,172 468,978 468,978 539,787 539,787 578,465 578,465 1847} 1847) (82,953) (82,953) 1.640,598 948,447 2,589,045 1,400,101 1,047,803 2,447,904 Share of support and governance costs (see note 7) Governance 8,340 8,340 3,660 3.660 1,648,938 948.447 2,597,385 1,403,761 1,047.803 2,451,564 Analysis by fund Unrestricled funds Restricted funds 1,555,214 93,724 948,447 2,503,661 93,724 1,356,138 1,047.803 2,403,941 47,623 47,623 1,648,938 948,447 2,597,385 1,403,761 1,047,803 2,451,564 Apportionment of costs Finance and administrative staff salaries which are not covered by services charges to beneficiaries are apportioned lo individual projects based on the number of full time equivalent staff. Management staff salaries which are not covered by services charged to beneficiaries are apportioned lo individual projects based on the number of full lime equivalenl staff. Support costs allocated to activities 2024 2023 Govemance cosls 8,340 3,660 Analysed between: Gharitiable Activity Expenditure 8,340 3,660 -22-
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement in funds 2024 2023 The net movement in funds is slated after chargingllcrediling}-. Fees payable for the audil of the charity's financial statements DepreGiation of owned tangible fixed assets 8,340 288 3,660 360 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. 10 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Management and Administration Project Staff 15 13 Total 23 21 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs Heallhcare costs 519,763 36,846 13,360 2,053 425,880 34,305 14,163 1,651 572,022 475,999 There were no employees whose annual remuneralion was more than £60,000. 11 Gains and losses on investments Unrestricted Unrestricted funds funds 2024 2023 Gainsl(losses} arising on.. Revaluation of investment properties 50,000 12 Taxation The charity is exempt from taxation on its activilies because all its income is applied for charilable purposes. -23-
Draft Financial Statements at 02 De¢ember 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tangible fixed assets Freehold land and building$ Plant and equipment Computers Total Cost or valuation At 1 April 2023 Disposals 490,000 164,220 (1,992) 718 (718) 654,938 (2,710) At 31 March 2024 490,000 162,228 652,228 Depreciation and impairment At 1 April 2023 Depreciation charged in Ihe year Eliminated in respect of disposals 162,945 255 (972) 553 33 (5861 163,498 288 {1,5581 At 31 March 2024 162,228 162,228 Carrying amount At 31 March 2024 490,000 490,000 At 31 March 2023 490,000 1,275 165 491,440 Land and buildings with a carrying amount of £490,000 were revalued on 10 May 2023 by PPH Commercial, independenl valuers not connected with the chariiy on the basis of market value. The valuation conforms lo International Valuation Standards and was based on recent market transactions on ami's length terms for similar properties. If freehold land and buildings had not been revalued they would have been included at the following historical cost 2023. £531,370 {2022'. £531.370). 14 Investment property 2024 Fair value At 1 April 2023 and 31 March 2024 325,000 The fair value of the investment property has been arrived at on Ihe basis of a valuation carried out 10 May 2023 by PPH Commercial, who are not connected with the charity. The valuation was made on an open market value basis by reference lo market evidence of Iransaction prices for similar properties. -24-
Draft Financial Ststsments at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Fixed asset investments Other investments Cost or valuation At 1 April 2023 & 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 2024 2023 Other investmenls comprise- Notes Healthwatch Kingston Upon Hull CIC Healthwatch East Riding of Yorkshire CIC Healthwatch North Lincolnshire CIC 16 Debtors Charity 2024 Group 2024 2023 2023 Amounts falling due within one year: Trade deblors Amounts owed by subsidiary undertakings Other debtors Prepayments and accrued income 92,720 325.441 728 7,915 156,709 165,677 208.460 246,990 85,680 16.916 10,481 43,326 426.804 332.867 311,056 290,316 17 Loans and overdrafts 2024 2023 Bank overdrafts Bank loans 5,854 59,270 5,854 59,270 Payable within one year Payable afler one year 5.854 8,331 50,939 -25-
Draft Financial Ststsments at 02 December 2024 at 00:3S:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 18 Creditors: amounts falling due within one year Charity 2024 Group 2024 2023 2023 Notes Bank loans and overdrafts Other taxation and social security Deferred income Trade creditors Other creditors Accruals 17 8,331 8,040 154,500 159,709 20,236 11,529 5,854 20,283 119,000 135,096 50.968 39,909 8,331 19,369 245,301 199,745 23,867 15,660 9.497 20.000 107.996 42,634 28,033 20 208,169 362,345 371,110 512,273 19 Creditors: amounts falling due after more than one year 2024 2023 Notes Bank loans 17 50,939 20 Deferred income 2024 2023 Other deferred income 119,000 245,301 Deferred income is included in the financial statements as follows.. 2024 2023 Deferred income is included within.. Current liabilitie5 119,000 245,301 Movements in the year.. Deferred income al 1 April 2023 Released from previous periods Resources deferred in the year 245,301 (245,3011 119.000 93,500 (93,5001 245,301 Deferred income al 31 March 2024 119,000 245,301 21 Retirement benefit schemes Defined contribution schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assels of the scheme are held separately from those of the charity in an independenlly administered fund. -26-
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Retirement benefit schemos (Continued) Defined benefit schemes (al Hull Community and Voluntary Services Limited (Hull CVS) participates in the Pensions Trust's Grovrth Plan (the Plan). The plan is funded and is not contracted out of the Slate Scheme. The plan is a multi- employer pension plan. (b) Contributions paid into the Plan up to and including September 2001 were converted to defined amounts of pension payable from normal retirement from October 2001 conlribulions were invested in personal funds which have a capital guarantee and which are converted to pension on retirement, either within the Plan or by the purchase of an annuity. Ic) The rules of the Plan allow for the declaration of bonuses andlor investment credits if this is within the financial capacity of the Plan assessed on a prudent basis. Bonusllnvestment credits are not guaranleed and are declared at the discretion of the Plan's Trustee. (dl The Trustee commissions an acluarial valuation of the Plan every three years. The purpose of the actuarial valuation is lo determine the funding position of the plan by comparing the assets with the past liabilities as at Ihe valuation dale. Asset values are calculated by reference to market levels. Accrued past service liabilities are valued by discounting expected future benefii payments using a discounted rate calculaled by referen¢e to the expected futLbrè investment returns. (el The rules of the Plan give Ihe Trustee the power to require employers lo pay additional contributions in order to ensure that Ihe statutory funding objeclive under the Pension Act 2004 is met. The statutory funding objective is that a pension scheme should have sufficienl assets to meet its past service liabilities, known as Technical Provisions. (fj If the actuarial valualion reveals a deficit, The Trustee will agree a recovery plan to eliminate Ihe deficit over a specified period of time either by way of additional contributions from employers, investment Returns or a combination of these. (9) The rules of the Plan state that the proportion of obligatory contributions lo be borne by the member and the members employer shall be determined by agreement between them. Such agreement shall require the employer lo pay part of such contributions. (h) Hull CVS paid contributions al the rate of 10 /. dufing the accounting period. Members contributions are voluntary, and members paid contributions al the rate of 1.85 % during the accounling period. Contribution rates are calculated with reference lo the total gross wages. (il At the balan sheet date there were 23 active members of the Plan employed by Hull CVS. The exisling Growth Plan 3 scheme 15 now closed to new entrants. Hull CVS offers a Money Purchase Pension Scheme lo eligible employees. Q'I 11 is not possible in the normal course of events to identify a reasonable and consistenl basis the share of underlying assets and liabilities belonging to individual participating employers. The Plan is a multi-employer scheme. where the assets are co-mingled for investment purposes, and benefits are paid oul of the Plan'5 total assets. Accordingly, due to the nature of the Plan, the accounting charge for the period under FRS17 represents the employer contribulion payable. -27-
Draft Financial Ststements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 21 Retirement benefit schemes (Continued) The pension cost charged represents contribulions payable by the company lo the fund amounting to £23,812 (2023 £25,778). The outstanding contributions at the year end were £79,50612022 £103,318). The amounts included in the balance sheet arising from the charity's obligations in respect of defined benefil plans are as follows.. 2024 2023 Liabilitiesl(assets)'. Presenl value of defined benefit obligations 79,506 104,235 Deficit in scheme 79,506 104,235 22 Restrictsd funds The restricted funds of the chartty comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 April 2023 Incoming Resources resources expended Transfers At 31 March 2024 Start grantsl Bransholme Trusl Cost of Living Fund Renew Community Fund Hull Food Partnership Community Centres 12.289 2.832 7,682 14.500 (16,4221 12,8321 17,6821 (20,900} (45,888) 10,367 51.995 74.357 31,095 28,469 22,803 140.852 (93,724) 69,931 Previous year: At 1 April 2022 Incoming resources Resources expended Transfers At 31 March 2023 Start grantsl Bransholme Trust Cost of living fund Renew community fund 15,425 18,000 (14,137) (4,168) (29,318) (7,0001 7,000 12,288 2,832 7,682 37,000 15,425 55,000 47,623 22,802 Starter and Bransholme Trust grants The purpose of these funds is to enable new groups to apply for small start-up grants and groups in Bransholme lo apply for grants lo help with start up and running costs. They are funded by annual donations from the Sir James Reckitt Charitable Trust and East Riding Charitable Trusl. -28-
Draft Financial Ststements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been sel aside out of unrestricted funds by the Ifustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Transfers Gains and At 31 March losses 2024 Designated Redundancy Fund General funds 15,875 1,185,694 18,561 {18,561) 34,436 1,331,911 2,668,439 {2,503.6611 1,201,569 2,668,439 {2,503,6611 1.366,347 Revaluation reserve 55,000 55,000 Previous year: At 1 April 2022 Incoming Resources resources expended Transfers Gains and At 31 March losses 2023 Designated Redundanc1y Fund General funds 15,875 898,959 15,875 1.185,694 2,640,676 (2,403,941) 50,000 914,834 2,640,676 2,403,941 50,000 1,201,569 Revaluation reserve 55,000 55,000 Designated funds In accordance with besl praclice. designated funds are specific funds set aside by the trustees were there is a reasonable certainty of expenditure being inGurred in the forthcoming year. The trustees believe that there is no longer a requirement for a specific provision for separate training and building maintenance funds. Redundancy provision is made in respect of pending redundancy liabilities. General funds General funds represent the balance of funds which are available for the objects of Ihe Gharity and were no specific purpose has been attributed to such funds. 29-
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Totsl 2024 At 31 March 2024: Tangible assels Investment properties Investments Current assetsllliabilitiesl Provisions and pensions 490,000 325,000 490,000 325,000 685,850 179,5061 69,931 755,781 {79,5061 1,421,347 69,931 1,491,278 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assets Investment properties Inveslmenls Current assetsllliabilities) Long term liabilities Provisions and pensions 491,440 325,000 491.440 325,000 595,300 {50,939) (104,235) 22,802 618,102 (50,9391 (104,2351 1,256,569 22,802 1,279,371 25 Relatsd patty transactions -30-
Draft Financial Statements at 02 December 2024 at 00:35:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 25 Related paty transactions Icontinuedl During ihe year the Charity had the following relaled party transactions with ils Trustees and the organisalions they represent on the Board of Hull Community and Voluntary Services Limited or alternatively organisalions in which they hold an officer position which is not individually fepresenled on the board of Hull Community and Voluntary Services Limited. No disclosure is made in respect of transactions which are made on an arms length basis and on normal commercial terms. The following amounts were outstanding at the reporting end date-. Amounts owed by related Amounts owed by related parties parties 2024 2023 Balance Balance Net Net Amounts owed to Hull CVS by Rainbow Nursery (Hull) Limited Amounts owed to Hull CVS by MNH Meeting New Horizons CIC 96,841 96,841 40.188 40,188 228,600 228,600 125,489 125,489 325,441 325,441 165.677 165,677 26 Cash generated from operations 2024 2023 Surplus for the year 211,906 294,112 Adjustments for.. Investment income recognised in statement of financial aclivities Fair value gains and losses on investment properties Depreciation and impairment of tangible fixed assets 15,565) (2,954) (50,000) 360 288 Movements in working capital.. Ilncrease) in debtors (Decreasellincrease in creditors (Decreasellincrease in deferred income {20,7401 (37,113} (126,301} (57,1461 8,221 151,801 Cash generated from operations 22,475 344,394 31
Draft Financial Statements at 02 December 2024 at 00:36:34 HULL COMMUNITY AND VOLUNTARY SERVICES GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 27 Anatysis of changes in net funds At 1 Aprll 2023 Cash ftovtsAt 31 March 2024 Cash at bank and in hand Bank overdrafts 840,059 (24,224) (5,854) 815,835 (5,8541 840,059 (30,078) 809,981 Loans falling due wilhin one year Loans falling due after more than one year {8,3311 (50,9391 8,331 50,939 780,789 29.192 809,981 -32-