Company number: 2388150 Charity Number: 802186
## **Voluntary Action Camden**
Report and financial statements For the year ended March 2022
**Voluntary Action Camden**
## **Contents**
## **For the year ended March 2022**
Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent examiners' report .................................................................................................... 14 Statement of financial activities (incorporating an income and expenditure account) ................... 15 Balance sheet ............................................................................................................................... 16 Statement of cash flows ............................................................................................................... 17 Notes to the financial statements ................................................................................................. 18
**Voluntary Action Camden**
## **Reference and administrative information**
## **For the year ended March 2022**
|**Company number**|2388150|
|---|---|
|**Charity number**|802186|
|**Registered office and**|The Greenwood Centre, 37 Greenwood Place|
|**Operational address**|London NW5 1LB|
|**Trustees**|Trustees, who are also directors under company law, who served|
||during the year and up to the date of this report were as follows:|
||Benaifer Bhandari - Chair and Trustee|
||Chikwaba Oduka - Vice Chair|
||Kathy Elliott - Vice Chair|
||Cassandra Austen - Treasurer and Trustee|
||Hilary Barnard|
||Arvinda Gohil - Trustee|
||Harry Graham - Trustee|
||Tricia Richards -Trustee|
||Sagal Abdi-Wali - Trustee|
||Lotis Bautista - Trustee|
|**Key management**|Kevin Nunan
Executive Director (Resigned 16/12/21)|
|**Personnel – Company**|Keith Morgan
Chief Executive Officer (Appointed 16/12/21)|
|**Secretary**||
|**Bankers**|National Westminster Bank plc|
||Tavistock Square, London WC1H 9JA|
|**Independent Examiners**|Goldwins Limited|
||Chartered accountants|
||75 Maygrove Road|
||West Hampstead|
||London NW6 2EG|
1
**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
The trustees present their report and the financial statements for the year ended March 2022. Reference and administrative information forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice —Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
## **Purpose and impact**
Voluntary Action Camden (VAC) connects and develops Camden's community groups and voluntary organisations supporting the diverse communities of the borough and seeks to influence key policymakers and decision-makers to improve conditions for our voluntary and community sector. VAC is a membership organisation and with our members we represent a wide range of interests and sectors including environment, health and BAME communities. Our membership continues to grow, and the charity has over 300 members.
Our vision for Camden:
Social cohesion and a sense of belonging in Camden are increased as established and new communities and their members are empowered to take responsibility for their health, economic contribution, welfare and a sense of community.
Camden's communities, civil society organisations and residents are empowered to collaborate across boundaries, present their views to external bodies and play an integral part in decision making and the design and delivery of services.
Communities in Camden become more sustainable and resilient as civil society organisations and residents can identify needs and take steps to meet those needs and enrich community life.
## **Public Benefit**
The trustees have complied with their duty to have due regard to the Charity Commission's Public Benefit Guidance (PB1 the Public Benefit Requirement, PB2 Public Benefit Running a Charity and PB3 Public Benefit Reporting) when exercising powers or duties to which the guidance is relevant.
## **Chair's Report, Benaifer Bhandari**
We are pleased to present the Voluntary Action Camden (VAC) Annual Report for 2021/22. This report covers a mercurial year as the organisation returns to normal operation following the disruption of the pandemic. During 2020-21, VAC's work was dominated by first preparing then supporting our members through the pandemic. We assumed a sector leadership role, working closely with London Borough of Camden to provide essential information to the sector; communicate central government guidance; and offer a Camden-wide resource on services such as foodbanks, mutual aid, neighbourhood volunteering opportunities and emergency funding schemes. We were there at every turn for our members.
2
**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
Our response to the pandemic highlighted the value of cross-sector collaboration. It also demonstrated the importance of forming partnerships built on trust across the public and VCS sectors. On the 1[st] April 2021 Camden entered a new era – as part of the new Integrated Care System covering the five north central boroughs. This brings us a step nearer to the NHS longterm vision of a true community health and care system in which the parts are seamlessly integrated. For the VCS this is an exciting development as it means that our role in keeping people well, nurturing wellbeing and preventing ill health should finally be fully acknowledged.
The pandemic disproportionately affected voluntary and community organisations that were already struggling to meet demands with insufficient resources. Before we have even begun to recover from the impact of the pandemic, the sector is faced with another crisis, the cost of living, that may last even longer. We are deeply concerned about the continued resilience of our sector and are calling for cross- sector unity and resistance to the much-anticipated reduction in public spending.
Since our inception, VAC has remained alongside its members facing significant changes in the sector, and emerging challenges for the benefit of residents. We have the experience, community reach, ingenuity and resolve to tackle this latest crisis and ensure that meaningful support reaches those in need.
We would like to thank all of our funders, including London Borough of Camden, and Clinical Commissioning Group (CCG) for their continued support of our work. We also want to thank our strategic partners and sector members. Much of our work would not be possible without their support.
## **Charitable objectivities and Activities**
Voluntary Action Camden (VAC) represents the voice and heart of the voluntary sector in the London Borough of Camden. Free and independent, we bring our depth of knowledge together with practical tools and collaborative purpose to share information, expertise and resources with local voluntary organisations and local people, working together to build a vibrant local community that enhances our collective quality of life.
We support and are supported by a network of organisations in London Borough of Camden including, Voluntary, Community Sector organisations, Camden council, NHS, CCG, and Camden Borough Partnership.
## **Our mission**
‘To work with local residents, community groups and VCS organisations to develop and support a vibrant civil society that underpins a high quality of life in Camden’
## **Our strategic aims**
To support and empower, individuals, groups and communities to become actively
3
**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
involved in civil society, particularly those that are socially excluded
To develop opportunities to share learning and provide access to high quality resources to maximise the efforts of individuals, groups and local communities to achieve their objectives To coordinate the diverse voices of individuals and civil society organisations to enable them to lobby and campaign and have a positive impact on wider agendas.
## **Key strategic outcomes**
Social cohesion and a sense of belonging are increased as established and new communities are empowered to take responsibility for their health, economic contribution, and welfare Communities, civil society organisations and individuals are empowered to collaborate across boundaries, present their views to external bodies and play an integral part in decision making and the design and delivery of services
Communities become more sustainable and resilient as individuals and civil society organisations can identify needs and take steps to effectively meet those needs and enrich community life.
## **Our priorities**
Building community resilience and community links by facilitating and supporting access to the skills and resources individuals and civil society organisations need to flourish against the backdrop of austerity
Disseminating appropriate information, through a range of communication channels, to support individuals and organisations to respond to changing demands, influence policy, campaign and advocate for their rights
Bringing individuals, groups and organisations together with partners from public, health and private sectors to co-produce solutions to tackle social disadvantages, increase social cohesion and address gaps in wellbeing and health.
## **Objects**
The Charity's objects (the Objects) are:
- (1) To promote any charitable purposes for the benefit of the public, principally but not exclusively In the Greater London area and Its environs, with specific reference to the London Borough of Camden (hereinafter called the "area of benefit") and, In particular, build the capacity of third sector organisations and provide them With the necessary support, Information and services to enable them to pursue or contribute to any charitable purpose
- (2) To promote, organise and facilitate co-operation and partnership working between third sector, statutory and other relevant bodies In the achievement of the above purposes Within the area of benefit
4
**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
## **Activities**
## **Capacity Building**
One of VAC’s core roles is to help develop and build the capacity of community organisations in Camden so they are equipped to meet the needs of the residents and communities they work with. This year VAC worked with **70 groups** on setting up or growing their organisation. This included help with deciding on whether to become a registered charity, Community Interest Company, or an informal, constituted group such as a luncheon club, peer support group or reading club. This extended to more longer-term support to help organisations:
- raise funds
- find space and premises to work from
- adopt the right policies
- adopt management and governance procedures to ensure organisation.
It also included advice on various other issues:
- recruitment and retention of staff and volunteers
- HR
- IT and digital development
- connecting with other groups
- amplifying their voice and influence to get their issues heard
- evaluate their work to improve how they demonstrate their impact.
We signposted a further **114 organisations** to help resolve their enquiries on issues including, volunteering, DBS checks, mental health support, and signposting to other sources of advice and information across the borough.
## **Training and Workshops**
Training and development are core areas of our work to help ensure community organisations have the right skills to grow and develop their organisation. Last year we delivered **13 sessions for over 220 voluntary and community sector** staff to help build skills and awareness on topics such as, safeguarding, digital transformation, cybersecurity and GDPR. We are planning to expand our training offer in the next financial year. Feedback from the training has been overwhelmingly positive:
_“The ITtraining series ofworkshops was really helpful”_
_“Training andevents have assisted in my developmentas a chatandlink volunteer”_
## **Google Grant**
Last year, VAC received funding from Google to help small voluntary and community organisations get back into buildings by helping them afford the cost of hot-desking or hire fee of meeting
5
**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
space or help with costs of office space in a community building. This year we have supported 11 organisations with room booking costs and the funding continues into next year.
## **Forums and Networking Opportunities**
We help bring residents and organisations from across the voluntary sector and statutory and public sectors together to help share ideas and best practice, meet people and collaborate on local challenges. This year we hosted **11 Voluntary Action Forums and networking opportunities** , bringing together over **220** people on issues ranging from social prescribing, health inequalities including vaccine uptake, and to discuss the way forward for the sector and residents as we began to come out of the Pandemic.
_“VAC haveproved themselves to be a lifeline to VCSpartners andresidents in Camden over thepandemic andwillhold the same socialvalue with the cost ofliving crisis. They have moved and allowed the council toplay catch-up. They are crucial to getting the council to take note of the voice of the VCS.”_
_“Our quality of work was enhanced due to VAC’s relevant up to date specialist knowledge and politicalandprofessionalconnections across the Camden Public andVoluntary/community sectors”_
## **Community Directories**
Building on user research with our networks and members, we redesigned and launched our Community Directories to make it easier for residents and community organisations to find each other and connect with services. This included a new Green Social Prescribing Directory to help social prescribers connect residents with ‘green’ activities and expanded the functionality of both the community and room hire directories.
## **Communications**
We rebranded our logo and overall look and feel, as well as redesigned and launched our new website in October 2021 to provide clearer information on what VAC does and how we can help support the sector in Camden. The redesigned website also included more helpful guides and on demand content so that our service users have relevant and up to date information.
We expanded our communications offer, investing in staff to help build our social media presence and continue producing our weekly bulletin, sent to over **1500 subscribers** from across the borough to help ensure residents and community organisations are kept up to date on the latest news and activity from across Camden.
Feedback on our redesigned website has been positive:
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**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
“VAC provide us with information in an accessible form, they support us to keep updated on relevant information/legislation and help us to stay connected to other organisations across the borough. Nobody does a newsletter better than VAC. As a comms officer for my own org, I especially appreciate this.”
## **Social Prescribing**
The Care Navigation and Social Prescribing Service continued to develop and connect residents with community-based support in the borough. There was an increase in the number of different NHS services using social prescribing and a marked increase in residents self-referring including, from those not accessing health services via traditional routes. VAC continued to use the learning and data from the service to support Camden Voluntary, Community and Social Enterprises (VCSEs) in fundraising, filling service gaps, and other service development and strategies.
VAC led a Camden Green Social Prescribing initiative for the Parks for Health programme in Camden and Islington, promoting and embedding VCSE 'green' activity provision in the borough. VAC continues to survey and monitor Green Social Prescribing and promote and share the findings through events and with VCSEs delivering the activities.
Social Prescribing is a core neighbourhood theme for the place-based partnership in Camden. VAC co-chairs the borough Social Prescribing Group with a VCSE 'activity provider' partner. The group focusses on joining up the prescriber and provider functions of social prescribing and improving knowledge and outcome measuring. The intelligence gathered during this meeting is helping to shape the general thinking around community health in the borough.
VAC contributes insight and learning to support the development of social prescribing in the borough. This has included: Two networking events related to green social prescribing and arts social prescribing; a comprehensive social prescribing map, with partners Age UK Camden to explain the Camden landscape; piloting of social prescribing with UCLH's Long Covid Clinic to explore the most appropriate nonclinical support for patients' recovery. The findings from the pilot and other similar research programmes are expected to be analysed and shared in early 2023 to support the development of appropriate VCSE activities.
## **Partnership projects and health system building**
VAC joined counterparts in North Central London (NCL) Community Voluntary Services (CVS's) to form a VCSE Alliance Steering group to facilitate VCSE engagement with the emerging health system. In parallel, VAC was involved in initial neighbourhood workshops and continues to work with the neighbourhood working groups to support the development of relationships within the emerging health system.
VAC initiated a focus on volunteering as an entry to NHS careers with the Camden place-based workforce development group and supported the setting up of a children and young people's social prescribing pilot in Camden with LB Camden and NCL helped to develop the steering group.
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**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
VAC continued as the lead NCL CVS for the London Plus led ‘Thriving Communities programme’ delivering an Action Research initiative to build the capacity of participating VCSEs to engage and deliver social prescribing related activities. The programme developed networks and enabled participating groups to lever in more funding and commissioning opportunities. In late 2021 / early 2022 VAC acted as a facilitating organisation to coordinate a Winter Health research project with partner VCSEs addressing health inequalities. It also enabled small or unfunded groups to work with the health system. Recommendations were used to explore future approaches.
## **The Evaluation Exchange**
The Evaluation Exchange brings together voluntary and community sector groups wanting to improve their capacity to evaluate their work, with postgraduate students and researchers who want to put their research and evaluation skills into practice in a real-life setting. It is a 6-month structured programme co-produced between UCL, Compost London and Voluntary Action Camden.
The aim of the programme is to build the evaluation capacity of organisations and researchers. Postgraduate students and researchers work collaboratively with organisations based in or working with communities in the London Boroughs of Newham and Camden. In 2021/22, 13 voluntary and community sector organisations, 8 of which were VAC members, worked with a small team of postgraduate students and researchers to solve an evaluation challenge their organisation had identified as needing to be addressed. The programme supported the organisations involved to focus on making necessary improvements to how they measure the impact of their work both in terms of positive outcomes of their beneficiaries, and overall impact on the community.
## **Safeguarding Children: The Community Partnership Advisory Service (CPAS)**
Funded by Camden Council since 2006, this specialist safeguarding project continues to provide resources, information and training to support Camden’s grassroot voluntary groups and diverse communities, including micro-ethnic and faith organisations.
The project was renamed the Community Safeguarding Partnership in 2020, in response to a consultation held with BAME community groups and Camden Supplementary schools. As a result, it has seen an expansion of its work with community centres, national charities, and larger organisations working in Camden, that support marginalised and ethnic minority children and their families.
It’s responsive and consultative bespoke training provision has increased to provide both virtual and face-to-face sessions, a quarterly podcast, policy development and ongoing volunteer support.
In addition to our current safeguarding training on offer, which includes both Introduction and Advanced child protection workshops, the project delivers quarterly sessions on the Charity Commissions Guidance to Safeguarding for Trustees. Feedback from participants has been positive
8
**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
- “Thank you for this training; the case studies were very interesting – as an organisation we could be doing a lot more.” “Dianne answered all my questions and followed up with videos and resources that I have shared with my team.”
In response to several requests for support throughout the Covid-19 Pandemic; the ‘Safer Recruitment for Voluntary Organisations and Small Groups’ workshop has been added to the safeguarding training portfolio this financial year. This essential introduction to government guidance gives organisations an opportunity to understand how safeguarding is more than just policy and legislation but explains how safely recruiting the right staff and volunteers, ensures that safeguarding is embedded in the fabric of an organisations work and culture.
## **Camden Cultural Advocacy Project (CAP)**
We deliver the Cultural Advocacy Project (CAP) in partnership with Mind in Camden supporting BAME community groups and organisations to promote good mental health and wellbeing. The aim of the programme is to improve the overall well-being of individuals, families and communities by increasing social interaction; improving health; and developing and maintaining more independence to overcome deprivation and social isolation.
Our key partners in 2021/22 included:
- Calthorpe Project
- Henna Women’s Centre
- Rhyl Primary School
- Caversham Medical Centre
- South Hampstead and Kilburn Partnership
- Bengali Women Forum, and
- Ethiopian Welfare Association.
The project delivered over 75 online support sessions and around 50 telephone support sessions for those who couldn’t join online. As the Covid-19 restriction eased, in-person group sessions resumed at Calthorpe project and Rhyl primary school.
A series of online workshops were delivered covering a variety of specialist subjects including, ‘five ways to well-being’, ‘Mental Health Awareness’, ‘Safeguarding Training’, ‘Winter Health’, ‘Healthy Eating’, ‘Coping with Bereavement’, ‘Vaccine Hesitancy’, ‘Diabetics’, and ‘Domestic Violence’. Other creative initiatives to reduce stress and safeguard good mental health included, an online massage session.
As with most community services, returning to in-person support posed a significant challenge. Some beneficiaries remained hesitant to access in-person support, others had got used to online sessions which they preferred as it meant they could attend several more than in person. As such, we adapted our service to accommodate online, in-person, and hybrid sessions. We are continuing
9
**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
to review this approach in order to make improvements where required and ensure we are meeting the needs and expectations of our beneficiaries and partners.
Feedback of the service has been overwhelmingly positive. This is particularly important given the significant challenges the pandemic and ensuing lockdown presented to the communities we work with. Some of the comments from beneficiaries using the service as we returned to in-person - support “Felt like we are going back to normal”, “Somewhere we can share and feel that we are not alone”.
The project provides a voice to people from BAME communities and individuals and helps to improve general understanding of the key issues of local people. This is particularly useful insight to share with mental health service providers and policy makers. As well as providing insight, the project continues to work on developing new partnerships including those that involve men, faith groups, diverse and hard to reach communities.
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**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
## **Message from VAC Chief Executive Officer**
It is with great pleasure that I have joined VAC. It is a respected and established organisation that is held with high regard by the local voluntary and community sector. I joined at a time of great uncertainty, but also great opportunity.
It has been a mercurial period for the sector, preceded by longstanding underinvestment and scarce resources. As many organisations within the sector proceed through the third and final stage of their operational reaction to the pandemic (response, recovery, rebuild), our priority should be responding to differing needs. Some organisations will need support to return to normal operation, some with embedding new methods of delivery, but many will need support to get back on their feet after a year’s worth of revenue loss (hired space), and new health conditions affecting staff e.g. long covid. The challenges are longstanding. VAC already has a set of measures and a package of support. However, the pandemic has exacerbated these longstanding issues so I would focus on intensifying our set of measures and ensuring that the package of support is reviewed to ensure we can respond to emerging issues.
COVID-19 has shone a spotlight on the inequalities. In true Camden fashion, residents, communities, local organisations and the Council have responded by coming together through the Camden Renewal Commission with a shared goal to reimagine Camden’s future. VAC can play a significant part in creating a more inclusive and sustainable economy by strengthening and championing social action through effective local voluntary and community sector infrastructure. I would work collaboratively with Camden and other infrastructure organisations to explore and experiment with different approaches to encourage community participation and social action. Developing collaborative initiatives working with local VCS and others to broker funds for joint activities. There are a number of key challenges facing the sector. My focus for the year ahead is standing alongside the sector to face them together, providing support when and where it is needed.
## Key challenges
- Increasing demand COVID-19 has brought significant and sustained increases in symptoms of depression and anxiety. Access to social prescribing services should be expanded to help tackle the mental health consequences of loneliness and isolation. Our ambition is to expand the provision of community link workers. We have good knowledge of the Integrated Care System in Camden, and experience in scaling up programmes to meet increased demands.
– Identifying people in need the pandemic highlighted how many people in need can go unnoticed because of inaccurate or incomplete data. We want to co-develop a system of procuring data that is hyper-local, is bottom-up, and is driven by emerging needs. The aim will be to bring together community knowledge and public sector data capacity to pre-empt and prepare for challenges, and to inform better decision making.
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**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
- Financial challenges The pandemic has significantly impacted some parts of the voluntary community sector. With over half of VAC’s members having £10k turnover, ensuring that they are directed to appropriate funding opportunities is a priority. There is also an opportunity to lobby funders on behalf of the sector, promoting fair, accessible, needs-led and placed-based grant programmes.
Volunteer retention – during the pandemic there was a huge swell of volunteers buoyed by local activism such as mutual aid groups. Inevitably as we return to a degree of normality the number of volunteers will decline, but the need will arguably remain. Working in partnership with members and infrastructure colleagues we need to promote new volunteering opportunities to retain that collectivism we saw during the pandemic.
## Building and nurturing partnerships
Since 2016, VAC’s gross income has depreciated, largely because of reduced government contracts. Returning to 2016 levels of investment from government contracts may be unrealistic particularly, in the wake of the pandemic. However, Camden boasts an incomparable selection of world class businesses, international corporations, and creative and cultural institutions. There are huge opportunities for VAC to explore new streams of revenue especially with more interest in place- based funding and cross-sector collaboration.
VAC plays a vital role in contributing to improving health, wellbeing and care outcomes across the borough. As such, forming new and nurturing existing partnerships with North Central London CCG and local health care professionals is a priority.
Building new and strengthening existing relationships with Communities and Local Government, Greater London Authority, and Local Government Association should be a priority. Local Strategic Partnership and Local Area Agreements presided over by Local Government are the main vehicles for developing the locality’s vision, and where strong partnership working with the third sector is crucial. VAC, as part of the third sector should be seen as a key stakeholder bringing local knowledge and expertise as well as valuable insight into the community. In so doing, VAC can contribute to developing a community strategy and agreeing local priorities for the local community, which reflect the needs of the community.
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**Voluntary Action Camden**
## **Trustees’ annual report**
## **For the year ended March 2022**
Trustees' responsibilities in respect of the financial statements
The Charity Commission requires the trustees to prepare financial statements each year which give a true and fair view of the financial transactions of the Charity during the year and of the disposition at the end of the Charity year of the assets and liabilities and contain the information specified in relevant regulations. The trustees are required to:
Select suitable accounting policies and apply them consistently and; Make judgements and estimates that are reasonable and prudent.
The trustees are responsible for keeping proper accounting records, in accordance with trust law, which disclose the financial transactions and the assets and liabilities with reasonable accuracy. 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 irregularities.
Approved by the Trustees and signed on their behalf on 4/08/2022
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**Independent examiner’s report to the trustees of Voluntary Action Camden (‘the Company’)**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **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 145(5) (b) of the 2011 Act.
## **Independent examiner’s statement**
Since the Company’s gross income exceeded £250,000, I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, 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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. 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
4. 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.
Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG
13/12/2022
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## **Voluntary Action Camden**
**Statement of financial activities** (incorporating an income and expenditure account)
## **For the year ended 31 March 2022**
|Note
**Income from:**
2
2
2
3
4
5
5
5
**Reconciliation of funds:**
**Total funds carried forward**
Actuarial gains / (losses) on defined benefit
pension schemes
**Net movement in funds**
Total funds brought forward
**Net income / (expenditure) for the year**
**Total expenditure**
Charitable activities
Promotion, policy & projects
Capacity Building
Information, co-ordination & partnerships
**Total income**
**Expenditure on:**
Charitable activities
Capacity Building
Information, co-ordination & partnerships
Promotion, policy & projects
Other trading activities
Investments|Unrestricted
£
64,689
-
-
5,390
21|Restricted
£
58,922
49,511
235,691
-
-|**2022**
**Total**
**£**
**123,611**
**49,511**
**235,691**
**5,390**
**21**|Unrestricted
£
63,489
-
-
19,587
77|Restricted
£
100,884
144,511
154,714
-
-|2021
Total
£
164,373
144,511
154,714
19,587
77|
|---|---|---|---|---|---|---|
||70,100|344,124|**414,224**|83,153|400,109|483,262|
||127,691
-
-|81,310
43,131
192,988|**209,001**
**43,131**
**192,988**|61,419
-
-|118,011
120,905
136,690|179,430
120,905
136,690|
||127,691|317,429|**445,120**|61,419|375,606|437,025|
||(57,591)
654,000|26,695
-|**(30,896)**
**654,000**|21,734
98,000|24,503
-|46,237
98,000|
||596,409
(921,819)|26,695
39,994|**623,104**
**(881,825)**|119,734
(1,041,553)|24,503
15,491|144,237
(1,026,062)|
||(325,410)|66,689|**(258,721)**|(921,819)|39,994|(881,825)|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.
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**Voluntary Action Camden**
**Balance sheet**
Company no. 2388150
## **As at 31 March 2022**
|Note
**£**
**Fixed assets:**
11
**Current assets:**
12
**74,447**
**102,900**
**177,347**
**Liabilities:**
13
**(14,667)**
13
**(95,879)**
15
16
**-**
**3,590**
**(329,000)**
Total unrestricted funds
**Total assets less current liabilities**
**Net assets excluding pension asset**
General funds
**Total charity funds**
Debtors
Restricted income funds
Unrestricted income funds:
Designated funds
Pension reserve
**The funds of the charity:**
Creditors: amounts falling due within one year
**Net current assets**
**Total net liabilities**
Creditors: amounts falling due after one year
Defined benefit pension scheme liability
**Long term liabilities:**
Cash at bank and in hand
Tangible assets|Note
**£**
**Fixed assets:**
11
**Current assets:**
12
**74,447**
**102,900**
**177,347**
**Liabilities:**
13
**(14,667)**
13
**(95,879)**
15
16
**-**
**3,590**
**(329,000)**
Total unrestricted funds
**Total assets less current liabilities**
**Net assets excluding pension asset**
General funds
**Total charity funds**
Debtors
Restricted income funds
Unrestricted income funds:
Designated funds
Pension reserve
**The funds of the charity:**
Creditors: amounts falling due within one year
**Net current assets**
**Total net liabilities**
Creditors: amounts falling due after one year
Defined benefit pension scheme liability
**Long term liabilities:**
Cash at bank and in hand
Tangible assets|**2022**
**£**
**3,478**|£
44,437
193,117|2021
£
-|
|---|---|---|---|---|
|||**3,478**
**162,680**||-
150,115|
||**177,347**
**(14,667)**||237,554
(87,439)||
||**(95,879)**||(83,940)||
|||**166,158**
**70,279**
**(329,000)**||150,115
66,175
(948,000)|
||**-**
**3,590**
**(329,000)**||23,371
2,810
(948,000)||
|||**(258,721)**||(881,825)|
|||**66,689**
**(325,410)**||39,994
(921,819)|
||||||
|||**(258,721)**||(881,825)|
For the year ending 31 March 2022, the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the Charity to obtain an audit in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of trustees on 4/08/2022 and were signed on its behalf by:
Name: Benaifer Bhandari Title: Chair
Name: Cassandra Austen Title: Treasurer
16
**Voluntary Action Camden**
## **Statement of cash flows**
## **For the year ended 31 March 2022**
|Note
18
19
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
**Change in cash and cash equivalents in the year**
**Cash flows from operating activities**
**Net cash used in investing activities**
**Net cash used in operating activities**
**Cash flows from investing activities:**
Dividends, interest and rents from investments
Purchase of fixed assets|**£**
**£**
**(86,760)**
**21**
**(3,478)**
**(3,457)**
**(90,217)**
**193,117**
**102,900**
**2022**|£
£
107,301
77
-
77
107,378
85,739
193,117
2021|£
£
107,301
77
-
77
107,378
85,739
193,117
2021|
|---|---|---|---|
||||193,117|
17
**Voluntary Action Camden**
**Notes to the financial statements**
**For the year ended 31 March 2022**
## **1 Accounting policies**
## **a) Statutory information**
Voluntary Action Camden is a charitable company limited by guarantee and is incorporated in England & Wales. The registered office address is The Greenwood Centre, 37 Greenwood Place, London NW5 1LB.
## **b) Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (August 2014) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
## **c) Public benefit entity**
The charitable company meets the definition of a public benefit entity under FRS 102.
## **d) Going concern**
The Executive Committee considers that there are no material uncertainties about the charitable company's ability to continue as a going concern in view of the significant cuts in costs and the successful income generation to date in 2022/23.
The Executive Committee does not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
The financial statements are drawn up on a going concern basis despite having net liabilities due to the inclusion of the pension scheme deficit (see note 1n). The deficit of the scheme, however, does not result in an immediate cashflow impact on the charity. This deficit will be cleared with an increase in pension contributions over the remaining working lives of the employees. For this reason the Executive Committee is satisfied this does not affect the going concern status of the charity.
## **e) Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
## **f) Fund accounting**
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds set aside by the Executive Committee for particular purposes.
## **g) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity heading:
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h) Allocation of support costs**
18
**Voluntary Action Camden**
## **Notes to the financial statements**
**For the year ended 31 March 2022**
## **1 Accounting policies (continued)**
## **j) Tangible fixed assets**
Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.
Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.
Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:
Furniture & Equipment
3 years
## **k) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **l) Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service users.
## **m) Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **n) Pensions**
The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable by the charitable company to the fund. The charitable company has no liability under the scheme other than for the payment of those contributions.
The charity also makes contributions to the Local Government defined benefit scheme for those employees who have joined the scheme. The assets of the scheme are fully valued by an independent actuary every three years. Any surplus or deficit on the scheme is reflected in alterations in the charity's contributions for the next three years. These contributions are reflected in the Statement of Financial Activities in the year to which they relate.
The charity has adopted the full requirements of Financial Reporting Standard 102 in accounting for the defined benefit pension scheme. Current or past service costs and gains, as determined by the scheme’s actuary, are charged to the Statement of Financial Activities. Pension finance costs or income are included within total resources expended or incoming resources as applicable. Actuarial gains and losses arising are recognised within ‘gains and losses’ on the Statement of Financial Activities.
In addition, the deficit on the scheme, representing the shortfall of the value of the scheme assets below the present value of the scheme liabilities is recognised as a liability on the balance sheet to the extent that the employer charity has a legal or constructive obligation for the liability. A corresponding pension reserve is included within funds.
19
**Voluntary Action Camden**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **2 Income from charitable activities**
|**2**
**Income from charitable activities**|||||
|---|---|---|---|---|
|**3**
**4**
**Income from investments**
**Income from other trading activities**
Lettings, room hire & service charges
Interest receivable
Sub-total for Capacity Building
LBC Community Partnership Advisory Service
NLCF Improving the Effectiveness of Coronavirus responses
Total income from charitable activities
Sub-total for Promotion, policy & projects
Sub-total for Information, co-ordination & partnerships
Mind in Camden - Adult MHPM and Cultural Advocacy
Training/Other activities
NCL CCG - Winter Outreach
Camden Psychotherapy Unit
LBC Core Grant
LBC Covid-19 Emergency Response
LBC - CIA
LBC BAME Fundraising Support
Others: Donations, Furlough & LBC VCS webinar
Camden Islington - Green Social Prescribing
Age Uk Camden - Community Links
Trust for London - Environmental Justice
NLCF Awards for All
Cooperative Foundation - Space to Connect
Age Uk Camden - Hospital Discharge Project
City Bridge Trust - London Emergency Responses wave 1
London Funders - London Emergency Responses wave 3
VCSEP Local Intelligence Network Grant
UCLH
London Plus - Thriving Communities Programme
Tides Foundation (Google) -Community Space & Digital CB|Unrestricted
£
63,489
-
-
-
-
-
-
1,200|£
-
6,830
-
-
41,047
11,045
-
-
Restricted|**2022**
**Total**
**£**
**63,489**
**6,830**
-
-
**41,047**
**11,045**
-
**1,200**|2021
Total
£
63,489
-
30,000
17,000
35,276
7,150
1,997
9,461|
||64,689
-
-
-
-
-|58,922
-
48,011
-
-
1,500|**123,611**
-
**48,011**
-
-
**1,500**|164,373
9,000
48,011
59,500
25,000
3,000|
||-
-
-
-
-
-
-
-
-
-|49,511
89,852
-
39,987
-
18,000
30,000
7,266
14,694
35,892|**49,511**
**89,852**
-
**39,987**
-
**18,000**
**30,000**
**7,266**
**14,694**
**35,892**|144,511
86,109
9,000
39,105
19,500
1,000
-
-
-
-|
||-
64,689|235,691
344,124|**235,691**
**408,813**|154,714
463,598|
||Unrestricted
£
-
5,390|£
-
-
Restricted|**2022**
**Total**
**£**
-
**5,390**|2021
Total
£
19,587
-|
||5,390|-|**5,390**|19,587|
||Unrestricted
£
21|£
-
Restricted|**2022**
**Total**
**£**
**21**|2021
Total
£
77|
||||||
||21|-|**21**|77|
20
**Voluntary Action Camden**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **5 Analysis of expenditure**
|**Analysis of expenditure**||||||||
|---|---|---|---|---|---|---|---|
|Staff costs (Note 7)
Other staff costs (Note 7)
Property
Equipment
Office adminstration
Audit & Independent Examination
Legal & professional fees
Newsletter & publications
Other
Depreciation
Other Lettings
Website & IT
Evaluation & consultancy
Special projects & events
Insurance
AGM & Summit
Bad Debt Write Off
Support costs
Governance costs
**Total expenditure 2022**
Total expenditure 2021|Charitable activities|||Governance
costs
£
17,381
-
-
-
-
3,000
-
-
-
-
-
-
-
-
-
-
-|Support costs
£
141,209
-
1,736
-
2,484
-
2,993
909
906
191
-
5,861
479
6,752
531
1,224
-|**2022**
**Total**
**£**
**337,158**
**35,000**
**3,900**
-
**7,217**
**3,000**
**7,737**
**2,094**
**2,294**
**1,739**
-
**14,431**
**1,109**
**17,804**
**1,618**
**3,549**
**6,470**|2021
Total
£
322,745
17,000
3,363
3,689
7,576
3,000
7,156
1,546
3,374
-
18,000
13,052
11,656
3,663
1,534
991
18,680|
||Capacity
Building
£
87,396
35,000
290
-
-
-
988
867
-
-
-
2,670
490
629
-
290
-|Information, co-
ordination &
partnerships
£
20,566
-
178
-
2,245
-
1,381
-
426
1,548
-
1,710
-
3,860
567
1,036
2,470|
Promotion,
policy &
projects
£
70,606
-
1,696
-
2,488
-
2,375
318
962
-
-
4,190
140
6,563
520
999
4,000
**94,857**
87,815
10,316
**192,988**
136,690|||||
||**128,620**
73,081
7,300|**35,987**
4,379
2,765||**20,381**
-
(20,381)|**165,275**
(165,275)
-|**445,120**
-
-|437,025
-
-|
||**209,001**|**43,131**||-|-|**445,120**|437,025|
||179,430|120,905||-|-|437,025||
Of the total expenditure, £127,691 was unrestricted (2021: £61,419) and £317,429 was restricted (2021: £375,606).
21
**Voluntary Action Camden**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **6 Net expenditure for the year**
This is stated after charging:
|Operating lease rentals:
Independent Examiners' remuneration (excluding VAT):
Depreciation
Social security costs
Staff costs were as follows:
Property
Independent Examination
Salaries and wages
Employer’s contribution to defined contribution pension schemes
Loss on disposal of fixed assets
The following number of employees received employee benefits (excluding employer pension costs) during the year between:
£60,000 - £69,999
Service Cost on defined benefit pension scheme|**2022**
**£**
**1,739**
-
**3,900**
**3,000**|2021
£
-
-
3,363
3,000|
|---|---|---|
||**2022**
**£**
**262,502**
**18,431**
**56,225**|2021
£
249,223
17,032
56,490|
||**337,158**|322,745|
||**35,000**|17,000|
||**35,000**|17,000|
||**2022**
**No.**
-|2021
No.
-|
The total employee benefits including pension contributions of the key management personnel were £53,462 (2021: £57,600).
The members of the Executive Committee were not paid and received no other benefits from employment with the charity in the year (2021: £nil). No member of the Executive Committee received payment for professional or other services supplied to the charity (2021: £nil).
No member of the Executive Committee incurred any reimbursed expenses in 2022 (2021 - nil)
## **8 Staff numbers**
The average number of employees (head count based on number of staff employed) during the year was as follows:
||**2022**|2021|
|---|---|---|
||**No.**|No.|
|Total headcount|**13**|11|
|The staffing numbers represents:|||
|1full time VAC staff|||
|10 part time VAC staff (5FTE)|||
|2 Seconded staff to CPU|||
Total headcount
## **9 Related party transactions**
There are no related party transactions to disclose for 2022 (2021: none).
22
**Voluntary Action Camden**
**Notes to the financial statements**
## **For the year ended 31 March 2022**
## **10 Taxation**
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
## **11 Tangible fixed assets**
|**12**
**13**
**Amounts falling due after one year**
Creditors
**Cost or valuation**
**At the end of the year**
Trade debtors
Prepayments
Disposals in year
At the start of the year
Additions in year
At the end of the year
At the start of the year
At the start of the year
Charge for the year
Taxation and social security
Accruals
Deferred income
**Net book value**
Eliminated on disposal
**Debtors**
**Depreciation**
Rent deposit
**Creditors:**
All of the above assets are used for charitable purposes.
At the end of the year
Trade creditors
**Amounts falling due within one year**|**2022**
**£**
**65,228**
**2,749**
**6,470**|**Furniture &**
**Equipment**
**£**
**-**
**5,217**
**-**|
|---|---|---|
|||**5,217**|
|||**-**
**1,739**
**-**|
|||**1,739**|
|||**3,478**|
|||**-**|
|||2021
£
31,704
1,733
11,000|
||**74,447**|44,437|
||**2022**
**£**
**822**
**6,711**
**7,134**
**-**|2021
£
4,982
5,161
27,097
50,199|
||**14,667**
**95,879**|87,439
83,940|
||**95,879**|83,940|
23
**Voluntary Action Camden**
**Notes to the financial statements**
**For the year ended 31 March 2022**
## **14 Deferred income**
Deferred income comprises fund income received for future periods
|Deferred income comprises fund income received for future periods|||
|---|---|---|
|Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year|**2022**
**£**
**50,199**
**(50,199)**
**-**|2021
£
26,854
(26,854)
50,199|
||**-**|50,199|
## **15 Pension scheme**
Voluntary Action Camden participates in the Local Government Pension Scheme (LGPS), a defined benefit scheme. The scheme is administered in accordance with the Local Government Pension Scheme Regulations 1997 and is contracted out of the State Second Pension. The Administering Authority for the scheme is the London Borough of Camden. Contributions to the scheme are charged to the Statement of Financial Activities so as to spread the cost of pensions over employees' working lives with the charity. The contributions are determined by a qualified actuary on the basis of triennial valuations using the projected unit method.
A full actuarial valuation of Voluntary Action Camden's assets and liabilities within the LGPS as at 31 March 2022 was carried out by a qualified independent actuary. The actuary's calculations have been prepared under Financial Reporting Standard 102 (FRS102) issued by the Financial Reporting Council.
The employee benefit obligations recognised in the balance sheet are as follows:
|Fair value of plan assets
Present value of funded obligations
Net (Under)/Overfunding in Funded Plans
Present value of unfunded obligations
Net liability
Amounts in the balance sheet
Liabilities
Net liability
Amounts recognised in net outgoing resources are as follows:
Current service cost
Interest on obligation
Expected return on plan assets
Past service cost
Total
Actual return on plan assets|**2022**
**£(000)**
**5,951**
**(6,236)**|2021
£(000)
5,697
(6,598)|
|---|---|---|
||**(285)**
**(44)**|(901)
(47)|
||**(329)**|(948)|
||**(329)**|(948)|
||**(329)**|(948)|
||**2022**
**£(000)**
**74**
**132**
**(112)**
**-**|2021
£(000)
54
124
(101)
-|
||**94**|77|
||**-**|**-**|
24
**Voluntary Action Camden**
**Notes to the financial statements**
## **For the year ended 31 March 2022**
## **15 Pension scheme (continued)**
Changes in the present value of the defined benefit obligation are as follows:
|Opening defined benefit obligation
Service cost
Interest cost
Contributions by Members
Actuarial losses / (gains)
Past Service Costs / (Gains)
Estimated Unfunded Benefits Paid
Estimated Benefits Paid
Closing defined benefit obligation
Changes in the fair value of plan assets are as follows:
Opening Fair value of Employer Assets
Expected return
Contributions by Members
Contributions by the Employer
Contributions in respect of Unfunded Benefits
Actuarial gains and (losses)
Unfunded Benefits Paid
Benefits paid
The charity expects to contribute £53,000 to its defined benefit pension plan in 2022/23.
The major categories of plan assets as a percentage of total plan assets are as follows:
Equities (split into material classes eg: European, North American)
Bonds (split into material classes eg: European, North American)
Property
Cash
Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):
Discount rate at the end of the year
Expected return on plan assets at the end of the year
Future salary increases
Future pension increases
Proportion of employees opting for early retirement|**2022**
**£(000)**
**6,645**
**74**
**132**
**10**
**(372)**
-
**(6)**
**(203)**|2021
£(000)
5,459
54
124
10
1,161
-
(6)
(157)|
|---|---|---|
||**6,280**|6,645|
||**2022**
**£(000)**
**5,697**
**112**
**10**
**53**
**6**
**282**
**(6)**
**(203)**|2021
£(000)
4,430
101
10
54
6
1,259
(6)
(157)|
||**5,951**|5,697|
||**2022**
**%**
**63%**
**15%**
**15%**
**7%**|2021
%
80%
9%
8%
3%|
||**2022**
**%**
**2.7%**
**0.0%**
**3.6%**
**3.2%**
**0.0%**|2021
%
2.0%
0.0%
3.3%
2.9%
0.0%|
The expected rate of return on assets is taken from the Hymans Robertson's proprietary asset model. The model parameters are calibrated to market conditions on a monthly basis.
25
**Voluntary Action Camden**
**Notes to the financial statements**
## **For the year ended 31 March 2022**
## **15 Pension scheme (continued)**
Amounts for the current and previous four periods are as follows:
|Defined benefit obligation
Plan assets
Deficit
Experience adjustments on plan assets
Experience adjustments on plan liabilities|**2022**
**£**
**(6,280)**
**5,951**|2021
£
(6,645)
5,697|2020
£
(5,459)
4,430|2019
£
(6,334)
4,983|2018
£
(5,976)
4,809|
|---|---|---|---|---|---|
||**(329)**
**282**
**(17)**|(948)
1,259
66|(1,029)
(515)
299|(1,351)
167
(5)|(1,167)
50
25|
Further actuarial assumptions:
Life expentancy is based on the Fund's VitaCurves with improvements in line with the CMI 2021 model, with a 0% weighting of 2021(and 2020) data, standard smoothing (Sk7), initial adjustment of 0.25% and a long term rate of improvement of 1.5% p.a. for both males and females. Based on these assumptions, the average future life expectancies at age 65 are summarised as follows:
**Males Females** Current Pensioners 21.8 years 24.31years Future pensioners * 23.2 years 25.9 years
* Figures assume members aged 45 as at last formal valuation date
Life expectancies for the prior period end are based on the Fund's VitaCurves. The allowance for future improvements are shown below:
**Current Pensioners Furure Pensionners** Life expentancy is based on the Fund's VitaCurves with improvements in line with the CMI Life expentancy is based on the Fund's VitaCurves with 2020 model, with a 0% weighting of 2020, standard smoothing (Sk7), initial adjustment of improvements in line with the CMI 2020 model, with a 0% 0.5% and a long term rate of improvement of 1.5% p.a. weighting of 2020, standard smoothing (Sk7), initial adjustment of 0.5% and a long term rate of improvement of 1.5% p.a.
Please note that the mortality assumptions used to value the Obligations in the Eployer's Closing Position are different to those used to value the Obligation in the Employer's Opening Position.
## **16a Analysis of net assets between funds (current year)**
|**16b**
Tangible fixed assets
Defined benefit pension liability
Defined benefit pension liability
**Analysis of net assets between funds (prior year)**
**Net assets at the end of the year**
Net assets
**Net assets at the end of the year**
Tangible fixed assets
Net current assets|General unrestricted
£
3,478
112
(329,000)|£
-
-
Designated|Restricted
£
66,689
-|**Total funds**
**£**
**3,478**
**66,801**
**(329,000)**|
|---|---|---|---|---|
||**(325,410)**|**-**|**66,689**|**(258,721)**|
||General unrestricted
£
-
2,810
(948,000)|£
-
23,371
-
Designated|Restricted
£
-
39,994
-|**Total funds**
**£**
**-**
**66,175**
**(948,000)**|
||**(945,190)**|**23,371**|**39,994**|**(881,825)**|
26
**Voluntary Action Camden**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
## **17a Movements in funds (current year)**
|**Total restricted funds**
**Total designated funds**
**General funds**
NCL CCG - Winter Outreach
UCLH
London Plus - Thriving Communities Programme
LBC BAME Fundraising Support
Tides Foundation (Google) -Community Space & Digital CB
VCSEP Local Intelligence Network Grant
Age Uk Camden - Community Links
Mind in Camden - Adult MHPM and Cultural Advocacy
Camden Psychotherapy Unit
LBC Community Partnership Advisory Service
**Pension reserve**
**Total funds including pension fund**
NLCF Awards for All
**Total unrestricted funds before pension reserve**
Staff Contingency & Pension Fund
LBC - CIA
Camden Islington - Green Social Prescribing
Cooperative Foundation - Space to Connect
**Unrestricted funds:**
**Designated funds:**
**Restricted funds:**|At the start of
the year
£
**-**
3,494
**-**
**-**
4,184
15,358
**-**
6,039
10,919
**-**
**-**
**-**
**-**
**-**|Income & gains
£
6,830
**-**
41,047
11,045
**-**
48,011
1,500
89,852
39,987
18,000
30,000
7,266
14,694
35,892|Expenditure &
losses
£
(6,830)
(3,494)
(41,047)
(11,045)
(4,184)
(46,432)
(1,500)
(81,750)
(43,137)
(18,000)
(30,000)
(7,266)
(14,694)
(8,050)|Transfers
£
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**|**At the end of the**
**year**
**£**
**-**
**-**
**-**
**-**
**-**
**16,937**
**-**
**14,141**
**7,769**
**-**
**-**
**-**
**-**
**27,842**|
|---|---|---|---|---|---|
||39,994|344,124|(317,429)|-|**66,689**|
||23,371|-|-|(23,371)|**-**|
||23,371|-|-|(23,371)|**-**|
||2,810|70,100|(127,691)|58,371|**3,590**|
||26,181|70,100|(127,691)|35,000|**3,590**|
||(948,000)|654,000|-|(35,000)|**(329,000)**|
||(881,825)|1,068,224|(445,120)|-|**(258,721)**|
## **Purposes of restricted funds**
## **LBC - CIA**
Work with volunteer Centre Camden, C4 and Traverse consultancy to Develop the CIA into a strong provider of infrastucture support to the Voluntary and Community Centre in Camden
## **LBC BAME Fundraising Support**
Works with specialist networks/consultants to support fundraising for small Camden BAME organisations
## **Camden Psychotherapy Unit**
The Director and the Administrator are both VAC employees and are seconded to CPU, who reimburse VAC for the full cost of salary and pension.
## **Cooperative Foundation - Space to Connect**
Space to Connect is a small grant from the Co-op Foundation that is funding work in the borough to look at issues of public realm and meeting and activity space as it relates to small voluntary and community sector users
## **NLCF Awards for All**
Awards for All is a small grant from the National Lottery Community Fund. The grant is being used to support communications improvements, specifically the development of clearer marketing and communications and a more user friendly website.
## **LBC Community Partnership Advisory Service**
Working to improve the way agencies and communities work together to safeguard children and to strengthen work with and between black and minority ethnic groups.
## **VCSEP Local Intelligence Network Grant**
Funding to enable VAC to take part in a new national Voluntary and Community Sector Emergency Partnership where national emergency charities partner with local charities to coordinate an emergency response
## **Age Uk Camden - Community Links**
VAC recruits and trains local people to volunteer in Camden GP practices. These Community Links Volunteers promote community based services and activities that contribute to a healthier lifestyle. The project will increase local knowledge (including GP knowledge) about prevention and health improving activities delivered by local organisations. Our long term aim is to develop the Community Links role in local NHS commissioning.
27
**Voluntary Action Camden**
**Notes to the financial statements**
**For the year ended 31 March 2022**
## **17a Purposes of restricted funds (continued)**
## **Mind in Camden - Adult MHPM and Cultural Advocacy**
Works in partnership with community organisations to develop good practice in understanding, supporting and actively engaging with users that may be experiencing mental illness.
The CAP works with different BAME communities through the organisations they attend and utilise, to reduce the sense of isolation they feel; raise awareness of mental health and well-being from a cultural perspective; enable individuals to access services and support in a timely way.
## **Camden Islington - Green Social Prescribing Pilot**
Green Social Prescribing Pilot is to support practical local work in planning and delivering green social prescribing; and to identify the governance and resources needed to support a large scaling up of green social prescribing
## **NCL CCG - Winter Outreach Camden**
VAC coordination of collaborations to deliver insights into health inequalities in accessing health care and vaccine between December 2021 and March 2022.
## **UCLH**
12 weeks pilot testing social prescribing for patients from Long Covid Clinic at UCLH. Additional collaboration on UCLH / UNiversity Southhampton research programme offering social prescribing as part of Long Covid pathway
## **London Plus - Thriving Communities Programme**
VAC is lead CVS partner for North Central London delivering National Academy of Social Prescribing (NASP) Thriving Communities programme in London with London Plus, and national charities. The programme focusses on networking and activity delivery collaborations for social prescribing referrals, and influencing NASP / NHSE from VCS perspective.
## **Tides Foundation (Google) -Community Space & Digital CB**
The grant is to support small grassroots organisations to get to access to community space and digital capacity
## **Purpose of designated funds**
## **Staff Contingency and Pension Fund**
The fund has been established to make provision for the possibility of long term staff absence and other liabilities and contingencies. The timing of expenditure depends on if and when these costs arise.
28
**Voluntary Action Camden**
## **Notes to the financial statements**
## **For the year ended 31 March 2022**
**17b Movements in funds (prior year)**
|**Total restricted funds**
**Total designated funds**
**General funds**
**Total funds including pension fund**
Mind in Camden - Adult MHPM and Cultural Advocacy
Trust for London - Environmental Justice
VCSEP Local Intelligence Network Grant
Camden Islington - Green Social Prescribing Pilot
Staff Contingency & Pension Fund
**Restricted funds:**
Age Uk Camden - Hospital Discharge Project
LBC Covid-19 Emergency Response
LBC BAME Fundraising Support
Camden Psychotherapy Unit
Cooperative Foundation - Space to Connect
City Bridge Trust - London Emergency Responses wave 1
Others: Furlough & LBC VCS webinar
NLCF Awards for All
LBC Community Partnership Advisory Service
**Pension reserve**
NLCF Improving the Effectiveness of Coronavirus responses
London Funders - London Emergency Responses wave 3
Age Uk Camden - Community Links
**Unrestricted funds:**
**Designated funds:**
**Total unrestricted funds before pension reserve**|At the start of
the year
£
-
-
-
-
-
-
-
9,736
-
-
-
2,035
-
2,415
1,305
-
15,491|Income & gains
£
30,000
17,000
35,276
7,150
1,997
9,461
9,000
48,011
59,500
25,000
3,000
86,109
9,000
39,105
19,500
1,000
400,109|Expenditure &
losses
£
(30,000)
(13,506)
(35,276)
(7,150)
(1,997)
(9,461)
(4,816)
(42,389)
(59,500)
(25,000)
(3,000)
(82,105)
(9,000)
(30,601)
(20,805)
(1,000)
(375,606)|Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**At the end of the**
**year**
**£**
**-**
**3,494**
**-**
**-**
**-**
**-**
**4,184**
**15,358**
**-**
**-**
**-**
**6,039**
**-**
**10,919**
**-**
**-**
**39,994**|
|---|---|---|---|---|---|
||23,371|-|-|-|**23,371**|
||23,371|-|-|-|**23,371**|
||(35,924)|83,153|(61,419)|17,000|**2,810**|
||(12,553)|83,153|(61,419)|17,000|**26,181**|
||(1,029,000)|98,000|-|(17,000)|**(948,000)**|
||(1,026,062)|581,262|(437,025)|-|**(881,825)**|
## **Purposes of restricted funds**
## **LBC Covid-19 Emergency Response**
Supporting the collective VCS response to the impact of COVID-19 on Camden's communities and vulnerable residents by sharing up to date information on services, funding and relevant information
## **LBC BAME Fundraising Support**
Works with specialist networks/consultants to support fundraising for small Camden BAME organisations
## **Camden Psychotherapy Unit**
The Director and the Administrator are both VAC employees and are seconded to CPU, who reimburse VAC for the full cost of salary and pension.
## **Cooperative Foundation - Space to Connect**
Space to Connect is a small grant from the Co-op Foundation that is funding work in the borough to look at issues of public realm and meeting and activity space as it relates to small voluntary and community sector users
## **City Bridge Trust - London Emergency Responses wave 1**
Supporting the initial emergency response to the impact of Covid-19 by enabling remote working such as through provision of mobile phones and video conferencing
29
**Voluntary Action Camden**
**Notes to the financial statements**
**For the year ended 31 March 2022**
## **17b Purposes of restricted funds (continued)**
## **Others: Furlough & LBC VCS webinar**
Furlough: Coronavirus Job Retention Scheme introduced by the government to support the employers to continue paying part of furloughed employees' salaries and potentially protect the employees from redundancy.
LBC VCS webinar: Funding to run webinar for VCS with Locality
## **NLCF Awards for All**
Awards for All is a small grant from the National Lottery Community Fund. The grant is being used to support communications improvements, specifically the development of clearer marketing and communications and a more user friendly website.
## **LBC Community Partnership Advisory Service**
Working to improve the way agencies and communities work together to safeguard children and to strengthen work with and between black and minority ethnic groups.
## **NLCF Improving the Effectiveness of Coronavirus responses in Camden**
Funding to deliver activities specifically aimed to support communities through the COVID-19 crisis
## **London Funders - London Emergency Responses wave 3**
Funding to support the response to the disproportionate impact of Covid-19 by supporting voluntary and community organisations to come together to tackle health inequalities.
VAC recruits and trains local people to volunteer in Camden GP practices. These Community Links Volunteers promote community based services and activities that contribute to a healthier lifestyle. The project will increase local knowledge (including GP knowledge) about prevention and health improving activities delivered by local organisations. Our long term aim is to develop the Community Links role in local NHS commissioning.
## **VCSEP Local Intelligence Network Grant**
Funding to enable VAC to take part in a new national Voluntary and Community Sector Emergency Partnership where national emergency charities partner with local charities to coordinate an emergency response
## **Age Uk Camden - Community Links**
VAC recruits and trains local people to volunteer in Camden GP practices. These Community Links Volunteers promote community based services and activities that contribute to a healthier lifestyle. The project will increase local knowledge (including GP knowledge) about prevention and health improving activities delivered by local organisations. Our long term aim is to develop the Community Links role in local NHS commissioning.
## **Age Uk Camden - Hospital Discharge Project**
VAC helps the Care Navigation and Social Prescribing Service with supporting patients being discharged from UCLH
## **Mind in Camden - Adult MHPM and Cultural Advocacy**
Works in partnership with community organisations to develop good practice in understanding, supporting and actively engaging with users that may be experiencing mental illness.
The CAP works with different BAME communities through the organisations they attend and utilise, to reduce the sense of isolation they feel; raise awareness of mental health and well-being from a cultural perspective; enable individuals to access services and support in a timely way.
## **Trust for London - Environmental Justice**
The Neighbourhood Planning and Community Forum is to support the development of robust community forums that underpin neighbourhood resilience. It has the aim of achieving community ownership of local assets through a neighbourhood land trust.
## **Camden Islington - Green Social Prescribing Pilot**
Green Social Prescribing Pilot is to support practical local work in planning and delivering green social prescribing; and to identify the governance and resources needed to support a large scaling up of green social prescribing
## **Purpose of designated funds**
## **Staff Contingency and Pension Fund**
The fund has been established to make provision for the possibility of long term staff absence and other liabilities and contingencies. The timing of expenditure depends on if and when these costs arise.
30
**Voluntary Action Camden**
**Notes to the financial statements**
**For the year ended 31 March 2022**
## **18 Reconciliation of net income / (expenditure) to net cash flow from operating activities**
|**18**
**Reconciliation of net income / (expenditure) to net cash flow from operating**|**activities**||||
|---|---|---|---|---|
|**Net (expenditure) for the reporting period**
**(as per the statement of financial activities)**
Dividends, interest and rent from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Pension reserve funding movements
**Net cash (used in) operating activities**
**19**
**Analysis of cash and cash equivalents**
Cash at bank and in hand
Notice deposits (less than three months)
**Total cash and cash equivalents**|At 1 April 2021
193,117
-|Cash flows
(90,217)
-|**2022**
**£**
**(30,896)**
**(21)**
**(30,010)**
**(60,833)**
**35,000**|2021
£
46,237
(77)
21,065
23,077
17,000|
||||**(86,760)**|107,301|
||||Other changes
-
-|**102,900**
**-**
**At 31 March 2022**|
||193,117|(90,217)|-|**102,900**|
## **20 Operating lease commitments**
The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods
|Within one year
Less than one year|**2022**
2021
**£**
£
**-**
-
**-**
10,000
Property|**2022**
2021
**£**
£
**-**
-
**-**
10,000
Property|
|---|---|---|
||**-**|10,000|
## **21 Legal status of the charity**
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.
## **22 Deferred income**
All deferred income from 2020/21 was released in the year.
31