REGISTERED COMPANY NUIVIBER: 01752003 (England and Wales) REGISTERED CHARITY NUMBER: 514518 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEIVIENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR VOLUNTARY ACTION COVENTRY LDP Luckmans 1110 Elliott Court Coventry Business Park Herald Avenue Coventry West Midlands CV5 6UB
VOLUNTARY ACTION COVENTRY CONTENTS OF THE FINANCIAL STATEIVIENTS for the year ended 31 March 2024 Page Chair's Report Report of the Trustees Independent Examiner's Report Statement of Flnanclal Actlvitles Balance Sheet 10 Cash Flow Statement 11 Notes to the Cash Flow Statement 12 Notes to the Financial Statements 13 to 22
VOLUNTARY ACTION COVENTRY CHAIR'S REPORT for the year ended 31 March 2024 Chairs Foreward Like many organisations Voluntary Action Coventry started the year aware that several challenges needed to be addressed and overcome. The first, the relocation of the organisation by July 2023 to a more affordable location. This meant relinquishing ourcity Centre shop front and adjusting our delivery as we took up residence at Harp Place, Radford. Having maintained a central presence for over 25 years this was not a decision taken lightly, but increasing running costs and city centre rents meant we could no longer stay within the ring road. Our second challenge, a deficit budget on unrestricted funds for our core activities of £40,000 at the start of the year, not a position any organisations would choose to be in, and certainly not at a time of a cost-of-living crisis and in a climate where funding opportunities are scarce and competition fierce. And finally, a need to refresh our business plan, review our governance and set a sustainable vison and course for VAC as we move towards our 70th year in 2027. So, where are we now... Our transition to our new location was smooth and has been seen as positive by staff and clients alike. We have continued to provide accessible city centre delivery through using VCFSE venues as well as our new training room at Harp Place. We close the year on a small surplus in unrestricted funds on core activities instead of a deficit, in part due to the reduction in our running costs and to securing new funding, particularly UKSPF (Shared Prosperity Fund) which enabled us to host a number of community events in localities across Coventry and support our VCSE Alliance members through small grants, covering their costs to showcase their voluntary opportunities and services and monitor the take-up of volunteering. With the help of our colleagues at Pilotlight we have strengthened our governance, refreshed our strategic plan and are ready for the next chapter in our story as we continue to support voluntary and community activity in Coventry. Page 1
VOLUNTARY ACTION COVENTRY REPORT OF THE TRUSTEES for the year ended 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Organlsatlon VAC is a relatively small charity, and many operational decisions are taken by the Chief Executive. Decisions are delegated to other members of staff as appropriate. The Board adopts the Business Plan, which is the key strategic and planning documentforVAC and includes action plans, risk analysis, etc. Major strategic decisions are taken by the Board, together with the setting of the annual budget and the adoption of policies and procedures. The Board receives a detailed bi-monthly report on progress against the Business Plan. OBJECTIVES AND ACTIVITIES Objectives and aims The Objects of VAC are". 1. The advancement of citizenship and community development, to include the promotion of volunteering and of the voluntary, community and social enterprise sector. The promotion of civic responsibility, good citizenship and neighbourliness. The provision of capacity buildingleducation to develop individuallcommunity capabilities, competences, skills and understanding. 2. The relief of those in need in Coventry, by reason of; youlh, age, ill health, disability, financial hardship or other disadvantage. 3. To promote any charitable purpose for the benefit of the community in the Area of Benefit, and in particular the advancement of education, the furtherance of health and the relief of poverty, distress and sickness. The area of benefit is the Midlands area and in-particular the city of Coventry. VAC meets these objects by: promoting volunteering and helping volunteers find suitable opportunities providing supported volunteering projects for those experiencing disadvantage circulating information, including through newsletters and social media providing advice on volunteer involvement and retention providing occasional training or briefing sessions providing practical resources such as meeting rooms signposting to other agencies with more specialist expertise promoting the voluntary and community sector in general Public benefit Voluntary Action Coventry achieves public benefit through direct services to the public and through the support we provide to voluntary, community and social enterprises: Volunteer Centre Coventry - promotion and brokerage ofvolunteering opportunities Supported volunteering - tailored support to help people with barriers play an active part in their communities through volunteering Healthwatch Coventry enabling the public to have a greater say on the health and social care services provided within the city., helping to address issues, problems or barriers within particular services. VCSE Alliance - providing information and advice to voluntary, community and social enterprises Involvement in local networks, partnerships and collaborations that address disadvantagelinequalities VAC seeks to encourage resilience in communities, supporting people to build their capacity and enabling them to do more for themselves. Page 2
VOLUNTARY ACTION COVENTRY REPORT OF THE TRUSTEES for the year ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities Our key areas of activity during the year were.. VCSE Alliance support Our Voluntary, Community and Social Enterprise (VCSE} Alliance is a free membership service that brings together third sector organisations based in Coventry or operating services in our city. During this year our VCSE Alliance grew by 36 new members, with 31 unique organisations attending Volunteer Coordinator Support Nelwork meetings which were run on a monthly basis in an informal peer-to- peer sharing and supporl format. We also offered an information session covering the"Vision forvolunteering" introducing and raising interest in the call to action to revitalise volunteering on a national level over the next 10 years. VCSE Leaders Network We continued our work engaging with VCSE Alliance leaders, discussing common issues affecting organisations in the City and exploring opportunities to promote and raise awareness of the Sectols role, particularly working with our system colleagues to shape up the VCSE role within the integrated care system. We established a Coventry and Warwickshire Leaders Alliance with our sister organisation CAVA, which is evolving into the reference group of the newly forming VCSE Collaborative. We launched Perspectives, our e-news bulletin to highlight examples of local VCSE impact to non-VCSE agencies and to share opportunities for partnership working and collaboration. Volunteering It was business as usual for VAC'S Volunteer Centre this year as we prepared for our relocation during the summer and settled into our new home at Harp Place. Despite a brief ILfll in Servi and a condensing of our Volunteer Drop-in to 8 hours over two days of the week. 239 people accessed this face-to-face support with volunteering, and we saw online volunteer registrations soar to 5921 Some of the new and unique volunteer roles on offer this year included Cat Foster Carer, allowing beloved pets to be reunited with their families fleeing domestic violence,. Pupil Safety Escort in areas of the city where school children worry that tensions during the academic week may spill over past the school gates., and Energy Saving Community Champions, helping the city's residents with their energy usage and learning how to save money on energy bills. Roles rooted in Coventry's history and community encouraged volunteers to try Radio Production for Coventry's own Hillz FM or assisting with archiving for Riley Cars Heritage Trust. On average, we delivered outreach to promote volunteering the equivalent ofonce every 3 weeks and settings and audiences were as varied as the residents of Coventry arel From adult ESOL classes in Coventry College, Social Prescribing events and presentations to SEN sixth form students in schools, to the Coventry Community Celebration event we delivered at Coventry Peace Orchard in partnership with Eden Project Communities, we made sure information of the benefits of volunteering and how to engage in the community reached a wide neOrk of people. Volunteer roles advertised across the year.. 289 Volunteers registering interest in roles: 666 People registering for our Introduction to Volunteering workshops.. 54 Improving Lives Through funding secured from several trusts and grant making bodies we supported people aged 18 years and over who were unemployed (or NEET) and who were deemed 'furthest away from the workplace, on a 6- week volunteering course called Improving Lives Participants shared that they had barriers that included anxiety and depression, social withdrawal, low self- esteem, and low self-confidence, which prevented them from focusing on their futures and realising their potential. We delivered 6 Improving Lives courses from 9th May 2023 to 28th March 2024. 82 participants benefited from attending the course, 26 participants are now volunteering, Page 3
VOLUNTARY ACTION COVENTRY REPORT OF THE TRUSTEES for the year ended 31 March 2024 10 participants have volunteered at 2 or more charitable organisations, 7 progressed into employment, 1 moved into an apprenticeship. Chat Central 11 Active Central Chat Central is a National Lottery Funded project where we help people to find others with similar interests, to have fun, get out of the house, join in with a hobby, get involved with their community and to find new friends, tackling loneliness and isolation in all its forms in Coventry. Chat Central always takes a person-centred approach. We take the time to discover what interests participants, what hobbies and skills they have and then we look for opportunities for them to get involved in their community. Listening to what people want means we have a wide variety of activities on offer: from bowls to Bollywood dance., craft sessions to canoeing., tennis to Tai Chi and film clubs to photography. All with the aim of connecting people, reducing isolation and building confidence. We worked with over 160 people. 180 x events including 48 Mission Possible Group Volunteering sessions. 502 hours of group volunteering including 45 litter picks 25 x online Zoom meet ups 70 x group meet ups with a variety of activities including yoga, song writing, pool, craft, Zumba, darts and games sessions. 10 x one to one Occupational Therapy sessions 10 x introductions to community groups 10 x participants accessed training or entered employment A reach of 9,763 on the Chat Central Facebook page for the year. Community Mental Health Transformation: VCSE Engagement As part of the Community Mental Health Transformation, the VCSE team based at Voluntary Action Coventry, in partnership with Warwickshire Community and Voluntary Action, ensured Voluntary, Community and Social Enterprise groups were part of the conversation around transforming mental health services. The VCSE Team acted as a link beeen the VCSE and CMH Transformation workstreams. These workstreams included.. Eating Disorders, Personality and Complex Trauma, Community Enablement, Social Care, 18-25s, Older Adults, Physical Health Checks. Achievements 'Over 140 VCSE groups contacted. 48 % of the people contacted (67 groupslorgs) became Actively Engaged with the CMHT programme. 28 % of people contacted {39 groupslorgs) occasionally showed interest in the programme but were not Actively Engaged. Counselling Organisation NeOrk formally established and now meet on a bi-monthly basis. 16 organisations have agreed to the terms of reference with 3 VCSE leaders agreeing to support the leadership of the neork for the first 6 months.? 8 mental health and wellbeing projects received funding from the CMHT VCSE Microgrant, totalling £22,243. 16 mental health and wellbeing projects received funding from the CMHT VCSE Innovation Fund, totalling £337,416. A total of £359,659 has been distributed to 24 VCSE organisations spread across all four health defined places - Coventry, North Warwickshire, South Waickshire and Rugby. A total of 1,936 participants have benefited from these projects with 412 sessions delivered. A programme of training for VCSE organisations was commissioned and ran throughout Autumn 2023 This included Safeguarding, Mental Health Awareness, Intermediate Training.. Canva, and Bid Writing. Over the training programme, 92 attendances were recorded. "Demonstrate Your Impact" survey results published and shared with CWPT and other statutory partners. This included the estimated financial value of the services provided by VCSE respondents. Events: 2 VCSE Forums covering programme updates, and discussions on key issues e.g. referral pathways in Adult MH and Social Care . 2 cross-sector networking events attended by VCSE organisations, CWPT and NHS staff and local authority representatives. An average attendance of 34 across both events. Page 4
VOLUNTARY ACTION COVENTRY REPORT OF THE TRUSTEES for the year ended 31 March 2024 CMHT VCSE Celebration event to commemorate the end of the CMHT programme. 73 people attended this event and the program included musical performances from people and groups within the VCSE, sharing the impact of the CMHT VCSE Innovation Fund, the work done by the Mental Health Liaison Officers, the launch of the Counselling Organisations NeOrk and the results of the CMHT VCSE Team evaluation. We also held a photo and video competition and distributed Amazon vouchers as prizes allowing for winning organisations to buy much needed resources for their projects and services. Legacy Photos and videos submitted for the VCSE Celebration competition and content from other organisations who have engaged throughout CMHT were displayed at Rugby Art Gallery and Museum from the 2nd until the 28th of April 2024. There were an estimated 546 visitors having seen the exhibition during April. The exhibition was then moved to the Market Hall at Fargo Village for the duration of May, coinciding with Mental Health Awareness Week (13th -19th May 2024). Healthwatch Coventry Healthwatch Coventry put a clear focus on hearing and understanding the barriers that local people face in accessing health and social care. 3,326 people shared their experience of health and social care with us, helping us to raise awareness of issues and improve care. 37,421 people came to us for clear advice and answers to their questions about topics such as diagnosis and referral issues, delays in complaint responses and where to go for out of hours support. 37 outstanding volunteers gave 815 hours of their time to make care better for the community. We highlighted people who were not included in a local NHS equalities assessment. The approaches we suggested were taken as a model for wider use. We influenced the priority given to addressing delays in complaints and incident responses, following a call for actions from the hospital. We highlighted the impact of community pharmacy closures on local people, to those who review local access. Our visits to the hospital wards led to swift actions on a ward where we identified concerns. We revisited the ward and saw improvements in care. We have reached different communities by working in partnership with voluntary groups, with a focus on communities in disadvantaged neighbourhoods. We were awarded the annual Healthwatch Impact award for changes made to maternity care for asylum seeking and newly arrived women and our partnership approach. PLANS FOR THE YEAR AHEAD 2024-25 Elevate our internet-based volunteer brokerage function by July 2024 to increase our service access by 10 %. Action a website upgrade to improve access to information about volunteering, community action and the wider VCSE for all stakeholders. Deliver 6 volunteering and community activity promotional events in communities to increase awareness of opportunities to get involved. Hold 2 VCSE networking eventslconferences to build greater connection with VCSE Alliance members and increase VCSE Alliance membership produ 18 editions of e-news tailored to our key stakeholders Commence Improving Quality QAS by September 2024 Perform a Customer Relationship Management review by July 2024 Undertake field research into the social enterprise sector by December 2024 Prepare business case for VAC hub by January 2025 Scope and begin longitudinal impact of volunteering in Coventry research by January 2025 FINANCIAL REVIEW Financial position The organisation made an overall deficit of £42,052 as of 31st March 2024 but continues to ensure it has the necessary resources and reserves to meet future obligations. Staffing The average number of employees was 16 for the year. Page 5
VOLUNTARY ACTION COVENTRY REPORT OF THE TRUSTEES for the year ended 31 March 2024 Investment policy and objectives The surplus funds of the organisation are currently held in an interest-bearing account. Reserves pollcy Trustees aspire to hold up to e1ve months of core running costs as reserves, together with enough to cover lease obligations of over 1 year and the full redundancy cost of all employees. The potential redundancy cost and lease obligations are held in a designated fund. At 31st March 2024, the aspirational reserves figure is £136,223. At 31st March 2024, unrestricted reserves amounted to £144,746. The trustees will continue to work towards maintaining their reserves target, whilst ensuring delivery of charitable objectives. Sustaining the organisation We will.. Initiate a trustee recruitment campaign to enhance strategic governance and leadership, Build stronger relationships with funders, achieving deliverables and demonstrating impact, Increase our income from non-grant sources by 200/0. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is a company limited by guarantee governed according to its Memorandum and Articles of Association updated 19th June 2019. All voluntary and community organisations active in Coventry are encouraged to apply for membership of the VCSE Alliance and there are 318 active members. There is also a facility for individual membership used on an occasional basis. Recruitment and appolntment of new trustees The membership elects a Board of at least five and not more than nine individuals, who each serve a term of up to three years and who can each be re-appointed twice before a rest period is required. Nomination forms are issued with the AGM mail-out. The Board meets bi-monthly with detailed papers circulated a week in advance. Induction and training of new trustees All trustees are offered one-to-one induction with the Chief Executive and Chairand receive a trustee induction pack. Wider network VAC is a member of NAVCA, the National Association for Voluntary and Community Action. VAC is a wholly independent charity which chooses to affiliate to NAVCA. Risk management The trustees have examined the major strategic risks ofthe charity and have an ongoing process of examining operational risks. This includes assessing risks according to their impact and likelihood and listing potential mitigating actions. This analysis then InflUenS the actions and priorities of the wider Business Plan. REFERENCE AND ADIVIINISTRATIVE DETAILS Registered Company number 01752003 (England and Wales) Registered Charlty number 514518 Registered office 1st Floor, Harp Place 2 Sandy Lane Coventry West Midlands CV14DX Page 6
VOLUNTARY ACTION COVENTRY REPORT OF THE TRUSTEES for the year ended 31 March 2024 Trustees L J C Carroll L Mafuba {resigned 18.4.23) T W Sawdon (resigned 10.5.23) B S Nagra A O Awosokanre {resigned 27.7.23) S Donaldson P Weare D Ball M Asamoah (resigned 27.7.23) Company Secretary SAOgle Independent Examiner M D Spafford LDP Luckmans 1110 Elliott Court Coventry Business Park Herald Avenue Coventry West Midlands CV5 6UB Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Approved by order of the board of trustees on 20..V.-.Lfts7....I.e and signed on its behalf by.. Nagra - stee Page 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF VOLUNTARY ACTION COVENTRY Independent examiner's report to the trustees of Voluntary Action Coventry I'the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law} you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'}. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 14515) (b) of the 2011 Act. Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. M D Spafford LDP Luckmans 1110 Elliott Court Coventry Business Park Herald Avenue Coventry West Midlands CV5 6UB Date.. %i/¥.n... IF.v(!kS.7.. 10 Page 8
VOLUNTARY ACTION COVENTRY STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1,100 1,100 5,500 Charitable activities Charitable activities 52,835 643,940 696,775 634,169 Investment income other income 20,098 2,305 20,098 3,284 19,030 7,021 979 Total 76,338 644,919 721,257 665,720 EXPENDITURE ON Charitable activities Charitable activities 54,467 708,842 763,309 659,317 NET INCOIIAEI(EXPENDITURE 21,871 (63,923) (42,052) 6,403 RECONCILIATION OF FUNDS Total funds brought forward 171,898 129,899 301,797 295,394 TOTAL FUNDS CARRIED FORWARD 193,769 65,976 259,745 301,797 The notes form part of these financial statements Page 9
VOLUNTARY ACTION COVENTRY BALANCE SHEET 31 March 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets 12 4,249 4,249 CURRENT ASSETS Debtors Cash at bank and in hand 13 12,318 228,995 12,318 314,271 52,214 305,098 85,276 241,313 85,276 326,589 357,312 CREDITORS Amounts falling due within one year 14 (51,794} (19,299} (71,093) (55,515) NET CURRENT ASSETS 189,519 65,977 255,496 301,797 TOTAL ASSETS LESS CURRENT LIABILITIES 193,768 65,977 259,745 301,797 NET ASSETS 193,768 65,977 259,745 301,797 FUNDS Unrestricted funds Restricted funds 17 193,768 65,977 171,898 129,899 TOTAL FUNDS 259,745 301,797 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on a.../¥.V.Q.y'.J7 .Id.ofr... and were signed on its behalf by.. The notes form part of these financial statements Page 10
VOLUNTARY ACTION COVENTRY CASH FLOW STATEMENT for the year ended 31 March 2024 2024 2023 Notes Cash flows from operating activSties Cash generated from operations 14,282 104,713) Net cash provided byl(used in) operating activities 14,282 104,713) Cash flows from investing activities Purchase of tangible fixed assets Interest received (4,998) 8,283 2,080 Net cash provided by investing activities 3,285 2,080 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reportlng period 17,567 (102,633) 296,704 399,337 Cash and cash equivalents at the end of the reportlng period 314,271 296,704 The notes form part of these financial statements Page11
VOLUNTARY ACTION COVENTRY NOTES TO THE CASH FLOW STATEMENT for the year ended 31 March 2024 RECONCILIATION OF NET (EXPENDITURE)IINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net (expenditure)lincome for the reporting period (as per the statement of Financial Activities) Adjustments for: Depreciation charges Interest received Decreasel(increase) in debtors Increasel{decrease) in creditors (42,052} 6,403 750 (8,283} 39,895 23,972 {2,080) (16,626) 92,410) Net cash provided byl(used in) operations 14,282 104 713) ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 2023 Cash in hand Notice deposits (less than 3 months) Overdrafts included in bank loans and overdrafts falling due within one year 449 313,822 187 304,911 Total cash and cash equivalents 314,271 296.704 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank and in hand Bank overdraft 305,098 8,394) 9,173 8,394 314,271 296,704 17,567 314,271 Total 296,704 17,567 314,271 The notes form part of these financial statements Page 12
VOLUNTARY ACTION COVENTRY NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2024 LIABILITY OF MEMBERS The Charity is a company limited by guarantee. It does not have share capital and the liability of each member is limited to the guarantee given by that member which shall not exceed £1. ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. Incoming resources from grants are included in incoming resources in the year in which they are receivable. Where income is received in advance of performance, its recognition is deferred and included in creditors. Investment income and other income are included when receivable. Expenditure Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of Value Added Tax. Liabilities are recognised as resoLtrces expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Expenditure which is directly attributable to specific activities has been included in these cost categories. Where costs are attributable to more than one activity they have been apportioned across the cost categories on a basis consistent with the use of these resources. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the company. Tangible fixed assets All individual assets costing less than £1,000 per item are to be written off in the year of purchase. Assets above this amount are to be capitalised in the month of purchase and subjected to the appropriate level of depreciation as stated below. Refurbishment Office Furniture IT Equipment 20 % Straight Line 20 % Straight Line 50 % Straight Line Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Restricted Funds - Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criteria is charged to the fund together with a fair allocation of management costs. Page13 continued...
VOLUNTARY ACTION COVENTRY NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024 ACCOUNTING POLICIES - continued Fund accounting Unrestricted funds- Unrestricted funds are available for use at the discretion ofthe Board in furtherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Board for particular purposes. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Contributions in respect of earnings paid by the charity to defined pension contribution schemes are charged to the Statement of Financial Activities in the year in which they are payable to the schemes. Hire purchase and leasing commitments Rentals applicable to operating leases where all of the benefits and risks of ownership remain with the lessor are charged to the Statement of Financial Activities as they fall due. DONATIONS AND LEGACIES 2024 2023 Donations Grants 1,100 1,500 4,000 1,100 5,500 INVESTMENT INCOME 2024 2023 Rents received Deposit account interest 11,815 8,283 16,950 2,080 20,098 19,030 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Charitable activities Grants 696,775 634,169 Grants received, included in the above, are as follows.. 2024 2023 Coventry City Council European Social Fund and National Lottery Community Fund CDA The 29th May 1961 Charitable Trust UK Responsible Authority (UKRA) National Lottery Coventry & Rugby CCG Sheldon Charitable Trust Eveson Charitable Trust 410,752 1,161 261,000 25,169 42,541 5,000 64,654 99,520 49,470 100,113 50,360 5,000 10,001 Carried forward 582,387 542,354 Page 14 continued...
VOLUNTARY ACTION COVENTRY NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024 INCOME FROM CHARITABLE ACTIVITIES - continued 2024 2023 Brought forward Coventry & Waickshire Partnership Trust AE Higgs Charity 582,387 106,388 8,000 542,354 91,815 696,775 634,169 CHARITABLE ACTIVITIES COSTS Support costs (see note 7) Direct Costs Totals Charitable activities 611,913 151,396 763,309 SUPPORT COSTS Governance costs Other Totals Charitable activities 147,741 3,655 151,396 NET INCOMEI(EXPENDITURE) Net incomel{expenditure> is stated after chargingl(crediting}'. 2024 2023 Depreciation - owned assets 749 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. 10. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 396,362 28,712 28,611 388,193 28,612 28,036 453,685 444,841 Page15 continued.
VOLUNTARY ACTION COVENTRY NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024 10. STAFF COSTS - continued The average monthly number of employees during the year was as follows: 2024 12 2023 14 Provision Support Governance 16 19 No employees received emoluments in excess of £60,000. 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 5,500 5,500 Charitable activities Charitable activities 49,470 584,699 634,169 Investment income Other income 19,030 7,021 19,030 7,021 Total 81,021 584,699 665,720 EXPENDITURE ON Charitable activities Charitable activities 78,771 580,546 659,317 NET INCOME Transfers between funds 2,250 4,153 5,677 6,403 Net movement in funds (3,427) 9,830 6,403 RECONCILIATION OF FUNDS Total funds brought forward 175,325 120,069 295,394 TOTAL FUNDS CARRIED FORWARD 171,898 129,899 301,797 Page 16 continued...
VOLUNTARY ACTION COVENTRY NOTES TO THE FINANCIAL STATEMENTS - contlnued for the year ended 31 March 2024 12. TANGIBLE FIXED ASSETS Fixtures and fittings Computer equipment Totals COST At 1 April 2023 Additions 14,380 4,998 26,141 40,521 4,998 At 31 March 2024 19,378 26,141 45,519 DEPRECIATION At 1 April 2023 Charge for year 14,380 749 26,141 40,521 749 At 31 March 2024 15,129 26,141 41,270 NET BOOK VALUE At 31 March 2024 4,249 4,249 At 31 March 2023 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors Prepayments 108 9,669 2,541 36,860 100 15,254 12,318 52,214 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note 15) Trade creditors other creditors Accruals and deferred income Accrued expenses 8,394 11,363 1,984 17,526 16,248 24,481 4,765 21,774 20,073 71,093 55,515 The following income has been received during the year relating to activities taking place in subsequent years.. At 1 st April 2023 Released during the year Deferred during the year 17,525 (687,305) 691,554 90,893 {637,003) 563,635 At 31st March 2024 21,774 17,525 Page17 continued...
VOLUNTARY ACTION COVENTRY NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024 15. LOANS An analysis of the maturity of loans is given below= 2024 2023 Amounts falling due within one year on demand.. Bank overdrafts 8,394 16. LEASING AGREEIVIENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2024 2023 Within one year Between one and five years 5,886 6,383 20,311 8,894 12,269 29,205 17. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund Personnel Equipment Property 102,871 49,027 21,870 20,005 (6,388) 6,383 20,000} 144,746 42,639 6,383 20,000 171,898 21,870 193,768 Restricted funds Healthwatch William A Cadbury Asylum, Migration and Integration Fund Community Fund - Chat Central Coventry 4 Good VCSE Mental Health Alliance Community Mental Health Transformation VCSE Leaders Network Improving Lives UK Shared Prosperity fund 63,618 1,523 (35,904) (1,523) 27,714 23,809 765 25,152 (3,225) 20,584 765 125,152) 3,637 11,394 (1,356) 1,113 2,124 2,281 12,507 2,124 129,899 63,922 65,977 TOTAL FUNDS 301,797 42,052) 259,745 Page 18 continued...
VOLUNTARY ACTION COVENTRY NOTES TO THE FINANCIAL STATEIVIENTS - continued for the year ended 31 March 2024 17. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 76,338 (54,468) 21,870 Restricted funds Healthwatch Building Better Opportunities- Progress William A Cadbury Community Fund - Chat Central VCSE Mental Health Alliance Community Mental Health Transformation VCSE Leaders NeOrk Improving Lives UK Shared Prosperity fund 261,979 (297,883) {35,904) 161 (161) (1,523) (77,547) (25,152) (1,523) (3,225) (25,152) 74,322 106,388 25,791 29,001 147,277 (107,744) (24,678) {26,877) 147,276) (1,356) 1,113 2,124 644,919 708,841) 63,922 TOTAL FUNDS 721,257 763,309) 42,052) Comparatives for movement In funds Net movement in funds Transfers between funds At 31.3.23 At 1.4.22 Unrestricted funds General fund Personnel Equipment Property 123,127 47,198 5,000 2,250 (22,506) 1,829 (5,000) 20,000 102,871 49,027 20,000 175,325 2,250 (5,677) 171,898 Restricted funds Healthwatch Building Better Opportunities Progress William A Cadbury Asylum, Migration and Integration Fund Community Fund - Chat Central Coventry 4 Good VCSE Mental Health Alliance Community Mental Health Transformation VCSE Leaders Network 53,728 9,890 63,618 {1,116} {7,816) (4,561) 8,295 1,116 9.339 1,523 4,561 15,514 765 28,030 23,809 765 25,152 (2,878) 12,692 (9,055) 11,394 3,637 11,394 120,069 4,153 5,677 129,899 TOTAL FUNDS 295,394 6,403 301,797 Page 19 continued...
VOLUNTARY ACTION COVENTRY NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024 17. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 81,021 (78,771) 2,250 Restricted funds Healthwatch Building Better Opportunities Progress Building Better Opportunities - Accelerate William A Cadbury Asylum, Migration and Integration Fund Community Fund - Chat Central VCSE Mental Health Alliance Community Mental Health Transformation VCSE Leaders Network 261.000 (251,110) 9,890 25,169 (26,285) (1,116) 42,541 (42,541) {7,816) (69,215) (67,162) {2,878) (7,816) (4,561) 8,295 (2,878) 64,654 75,457 91,815 24,063 (100,870) 12,669) (9,055) 11,394 584,699 580,546 4,153 TOTAL FUNDS 665,720 659,317) 6,403 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers beMeen funds At 31.3.24 At 1.4.22 Unrestricted funds General fund Personnel Equipment 123,127 47,198 5,000 24,120 {2,501) {4,559) 1,383 144,746 42,639 6,383 175,325 24,120 (5,677) 193,768 Restricted funds Healthwatch Building Better Opportunities Progress William A Cadbury Asylum, Migration and Integration Fund Community Fund - Chat Central Coventry 4 Good VCSE Mental Health Alliance Community Mental Health Transformation VCSE Leaders Network Improving Lives UK Shared Prosperity fund 53,728 {26,014) 27,714 (1,116) (9,339) (4,561) 5,070 1,116 9,339 4,561 15,514 765 28,030 20,584 765 (28,030) 12,692 {10,411) 12,507 2,124 2,281 12,507 2,124 120,069 59,769) 5,677 65,977 TOTAL FUNDS 295,394 35,649) 259,745 Page 20 continued...
VOLUNTARY ACTION COVENTRY NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024 17. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resoLfrces Resources expended Movement in funds Unrestricted funds General fund 157,359 {133,239) 24,120 Restricted funds Healthwatch Building Better Opportunities - Progress Building Better Opportunities- Accelerate William A Cadbury Asylum, Migration and Integration Fund Community Fund - Chat Central VCSE Mental Health Alliance Community Mental Health Transformation VCSE Leaders NelMork Improving Lives UK Shared Prosperity fund 522,979 (548,9931 {26,014) 25,330 (26,446) (1,116) 42,541 (42,541) {9,339) (69,215) (144,709} {28,030) 19,339) {4,561) 5,070 (28,030) 64,654 149,779 198,203 49,854 29,001 147,277 (208,614) (37,347) (26,877) 147,276) (10,411) 12,507 2,124 1,229,618 (1,289,387) 59,769) TOTAL FUNDS 1,386,977 (1,422,626) 35,649) Personnel - to fund redundancy situations. Equipment - to fund unscheduled replacement of major capital items. Commitments - potential amounts due in settlement of equipment and property leases. Property - potential dilapidation and restoration costs due on vacating property. Healthwatch delivery of Healthwatch Voice function and contract management of the Healthwatch Coventry contract funded by Coventry City Council. Building Better Opportunities Progress - in partnership with other local organisations and lead by Groundwork UK delivery of Building Better Opportunities Progress project. Funded by European Social Fund and National Lottery Communities Fund. Building Better Opportunities - Accelerate - in partnership with other local organisations and lead by Coventry & Warwickshire Co-operative Development Agency delivery of Building Better Opportunities Accelerate project. Funded by European Social Fund and National Lottery Communities Fund. The 29th May 1961- a charitable trust funding group support. William A Cadbury - a charitable trust funding group support. Henry Smith - delivery of Improving Lives programme funded by Henry Smith Charity. Page 21 continued...
VOLUNTARY ACTION COVENTRY NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2024 17. MOVEMENT IN FUNDS - continued Asylum, Migration and Integration Fund working in partnership with Coventry Refugee and Migrant Centre and Foleshill Women's Training delivering Your Future Your Integration, helping refugees integrate through community activity. Funded by UK Responsible Authority through the Asylum, Migration and Integration Fund. Community Fund Chat Central delivering a range of interventions to tackle loneliness and isolation in Coventry funded by the National Lottery. Heart of England - project related to changing the organisational activities to deliver services in a different way Coventry 4 Good a VAC initiative to raise funds for local groups within Coventry. 18. EMPLOYEE BENEFIT OBLIGATIONS The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost represents contributions payable by the Charity to the fund and amounted to £28,611 (2023.. £28,036). At 31st March 2024 contributions amounting to £3,625 (2023: £845) were payable to the fund and included in creditors. 19. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 22