Company number: 2388150 Charity Number: 802186
## Voluntary Action Camden
Report and financial statements For the year ended March 2023
Voluntary Action Camden
## Contents
For the year ended March 2023
Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent examiners' report .................................................................................................... 17 Statement of financial activities (incorporating an income and expenditure account) ................... 18 Balance sheet ............................................................................................................................... 19 Statement of cash flows ............................................................................................................... 20 Notes to the financial statements ................................................................................................. 21
Voluntary Action Camden
## Reference and administrative information
## For the year ended March 2023
|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 and Trustee|
||Kathy Elliot - Vice Chair|
||Cassandra Austen - Treasurer and Trustee|
||Hilary Barnard - Trustee|
||Arvinda Gohil - Trustee|
||Harry Graham - Trustee|
||Tricia Richards - Trustee|
||Sagal Abdi-Wali - Trustee|
||Lotis Bautista - Trustee|
|Key management|Keith Morgan Executive Director|
|Personnel – Company||
|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|
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Voluntary Action Camden
## Trustees’ annual report
## For the year ended March 2023
The trustees present their report and the financial statements for the year ended March 2023. 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
Fellow Trustees and I are so pleased to present the Voluntary Action Camden (VAC) Annual Report for 2022/23.
Camden boasts an incomparable selection of businesses, research and knowledge experts, creative and cultural institutions, and voluntary community sector organisations and groups. This rich array of world class organisations and institutions make Camden one of the best places to live and work. VAC is proud to be part of this tapestry and has cemented itself as an anchor institution within the borough, with a strong pedigree of quality support for the voluntary sector.
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Voluntary Action Camden
## Trustees’ annual report
## For the year ended March 2023
The sector has continually demonstrated, with limited resources, the important role it plays in keeping people connected and healthy. VAC is committed to highlighting the importance of the sector to the community and championing its needs. We play a significant role in creating a more inclusive and sustainable economy by championing and strengthening effective local Voluntary and Community Sector infrastructure.
We work with our members, strategic partners, and supporters to create a place where everyone can get involved in driving positive change. This includes:
- Creating a fairer Camden – providing equitable access to support, funding, participation and knowledge. For example, since 2020 we have received over 400 enquiries from the sector ranging from fundraising and enterprising to registering with The Charity Commission, Companies House, and forming a new constitution.
- Safeguarding the VCS – leveraging more support to ensure Camden's VCS is robust, cohesive, and well-resourced. For example, since last year we have organised over 30 training sessions, webinars and workshops for the sector delivered by experts and qualified trainers.
- Amplifying the voice of the sector –speaking to everyone in the sector and representing the range of diverse views accurately. For example, VAC represents the VCS at 11 strategic groups including, Health & Wellbeing Board, and Camden Borough Resilience Group. During the pandemic we brought together VCS organisations with key strategic partners including, Council Directors, NHS senior leaders, and local politicians to share insight, challenges, and promote and encourage partnership working and joint responses. During this period, we also launched the Voluntary Action Forum and held 16 cross-sector forums with over 500 attendees on a range of topics, including food poverty, funding for the sector, digital divide. We currently have over 2,000 subscribers to our weekly newsletter.
We are connected to the sector and have incredible insight into its needs and opportunities. This year we’ve focused on:
- Building community resilience and community links by facilitating and supporting access to the skills and resources residents, community groups, and community organisations need to flourish.
- Disseminating appropriate information, through a range of communication channels to support residents, community groups, and community organisations to respond to changing demands, influence policy, campaign, and advocate for their rights.
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- Bringing residents, community groups, and community organisations together with partners from public, health, and private sectors to co-produce solutions to tackle social disadvantage, increase social cohesion and address gaps in wellbeing and health.
During the toughest times of the last few years, we have been standing shoulder to shoulder with our members. We will continue to do so, by shouting about the value of the VCS to civic society, the economy, public health, and social cohesion.
All of the above has been possible because of the exemplary leadership of our CEO, Keith Morgan. His vision has been steady, his determination powerful and his passion for every team member, outstanding. Together the team at VAC are incomparable and therefore, as a Board, we are proud to be a part of VAC’s future – one which is full of robust support for our VCS.
We would like to thank all 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 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.
Voluntary Action Camden
## Trustees’ annual report
## For the year ended March 2023
## 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, welfare and integration
- 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 disadvantage, 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.
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For the year ended March 2023
## Amendments to the VAC Articles of Association
On 20[th] January 2022, the Board of Trustees put forward three amendments to the Articles for approval at the next AGM:
- To increase the number of co-options that Trustees may make;
- To enable virtual meetings of Trustees;
- To enable virtual meetings of the VAC membership.
None of these three changes require the agreement of the Charity Commission.
The amendments are described as:
- Special Resolution 1: Co options to the Board of Trustees In Article 19 (1), to replace “two” by “four”
Justification: This amendment enables the Trustees to bring additional skills, experience and knowledge into the Trustee body during the year between AGMs. Trustees tend to resign at different points in the year and it is desirable to fill skill gaps that arise. Trustees co-opted during the year would be eligible to stand for a directly elected place at the following AGM.
## Special Resolution 2: Electronic meetings of Trustees
## To add new Article 28
“A meeting of Trustees may be held by suitable electronic means agreed by the Trustees in which each participant may communicate with all other participants.” And renumber subsequent clauses
Justification: The Charity Commission gave temporary allowance during the pandemic for Boards of Trustees to hold valid meetings electronically, where this was not specifically covered under the Articles. This has been very helpful. Adopting this new Clause allows the Board of Trustees to meet electronically whenever they consider that appropriate.
## Special Resolution 3: Electronic meetings of Members To add new Article 42:
“A meeting of Members may be held by suitable electronic means agreed by the Trustees in which each participant may communicate with all other participants.” And renumber subsequent clauses
Justification: The Charity Commission gave temporary allowance during the pandemic for Members to hold valid meetings electronically, where this was not specifically covered under the Articles. This has been very helpful. Adopting this new Clause allows the AGM and any other General meeting of
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## For the year ended March 2023
Members to be held electronically if similar conditions to those of the pandemic arise. Wherever possible, VAC would want its General Meetings of Members to be held in person.
In order to consider these special resolutions, the AGM must be quorate. Under Article 38 (2), the quorum is “one twentieth of the total membership at the time”. Each amendment would be taken separately, proposed, seconded and voted on by Members. Under company law (which applies to VAC as a charitable company), special resolutions require a 75% majority to be adopted. If the special resolutions are duly adopted, the Chief Executive must file them with both the Charity Commission and Companies House, in order for them to be valid.
## Strategy development
We are in the process of developing a new strategy that has been shaped and informed by our key stakeholders including our members and strategic partners. As a CVS, there are elements to what VAC sets out to do, and how, that are non-negotiable. However, after coming out of what has been an exceptional period, and facing a mercurial future, it seems imperative that our strategic plan is informed by our key stakeholders. This year, we asked our members and strategic partners to help us with:
- Reflecting on what we have achieved and failed to achieve during the last three years
- Understanding the impact of external factors on the context of our work
- Reviewing how we frame the language around what we do and what we’ve achieved
- Setting out our ambition and priorities for the next three years, and agreeing the values and behaviours needed to achieve them.
We received 20 responses to the member survey. Eight partner/stakeholder interviews were conducted by our trustees, and two staff discussions were delivered. The feedback helped us to reflect on ‘most helpful things we have done’, ‘the biggest challenges facing the sector’, ‘gaps in our support to members and offer to strategic partners’, and ‘expected benefits of membership’.
Some comments from members and strategic partners:
“VAC have proved themselves to be a lifeline to VCS partners and residents in Camden over the pandemic and will hold the same social value with the cost-of-living crisis. They have moved and allowed the council to play catch-up.”
“I would turn to VAC for information and advice, to help collaborate with other voluntary organisations.”
“VAC had become stagnant not engaging the organisations you work with. Things have to change more engagement is needed and meeting training needs of its members.”
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## Trustees’ annual report
For the year ended March 2023
“VAC has undoubtedly been working extremely hard, but it is not the organisation I remember when I started 17 years ago, at that time it seemed to have more of a presence. For me it needs to somehow find that again”
In response to the feedback, we held a two-day strategy development workshop with staff on day 1 and both staff and trustees on day 2. We were joined by the council on day 2. The workshops were a good opportunity to rejuvenate staff and refocus the whole organisation on our mission and key objectives. Following the workshops, we have developed three new workstreams to help build the foundations of our new strategy: Financial stability; better meeting the needs and expectations of our members; and measuring our impact. We plan to launch our new strategy next year.
## Activities
## Capacity Building
There are over 2,000 VCS groups and organisations making up Camden’s civil society. VAC is proud to be a part of this strong and passionate civil society and we continue to stand with our members to tackle emerging and longstanding challenges impacting our sector and communities. We provide capacity building services that help our members to grow and develop.
VAC proudly offers free organisation support to any VCS group/organisation. The service has been held in high regard by our members for many years. However, feedback from our annual service satisfaction survey highlighted the need for us to diversify our guidance and improve our response time and process. Since the pandemic, we have seen a 45% increase in enquiries especially related to transitioning to Integrated care system, digital transformation, workforce challenges and becoming legally constituted. The types of enquiries also now require more intensive, long-term support, with most enquiries now needing at least 4 x 1-2-1 sessions. In response, we have:
1. Critically analysed this part of our service (formerly known as Clearing House) - strengthening parts of the service where required
2. Conducted an audit of all our guides and resources on our website to ensure that they were both accurate and detailed
3. Altered the automatic reply to enquiries to direct people to our guides and resources
4. Stored comprehensive responses that either included information not yet apparent in our guides and resources, or updated information
5. Started to monitor and evaluate the enquiries we received to spot trends and inform areas of future work e.g. VAC Forums and training
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6. Changed the name of the service to VAC Consultancy to reflect our confidence and experience in providing expert advice and support on critical VCS issues
7. Employed a new Member Officer who is enhancing our membership offer to meet the diverse needs of our diverse VCS.
## As a result:
- Our response time has improved dramatically, with VCS organisations receiving the relevant information to address some if not all of their initial enquiry within a day.
- Our digital guidance has expanded significantly to include information on new critical topics for the sector including, Climate Emergency, Workforce Challenges, Research and Development, Technology and AI, and Integrated Care System.
- We can see how effective our support has been over time by asking for feedback after 6 months.
- Our membership is growing as enquirers are converted into members. As such, we are on track to see a 200% increase in the number of VAC members by 2026 (over 1,500 voluntary community organisations), and
- We are working jointly with other third tier organisations in the borough to provide a holistic service. For example, creating a new light-touch referral process between Camden Giving and VAC for recipients of the new We Make Camden Fund to receive support with identifying additional funding, register their group, and produce the necessary legal documents and required policies to become fully constituted.
## 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. This year we delivered 20 sessions for over 100 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 introduce a new and distinct training package that is relevant and responds to the specific needs of the sector.
## 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
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challenges. This year, we have organised and hosted over 20 VCS forums. These are important opportunities for the VCS, particularly smaller organisation that are often easy to ignore or feel voiceless, to influence policy and practice, in order to tackle social challenges in Camden. Topics have included, food poverty, cost of living, funding for the sector, digital divide, integrated care, and health inequality. Future forums will cover topics such as climate justice, race and inequality, workforce development, and community research.
We know that some VCS groups want to improve their capacity to evaluate their work and conduct community research with appropriate R&D experts who want to improve decision making, innovation and service delivery, through a better understanding of ‘what works’ locally. As such, we are developing a pipeline of community research networks made up of VCS groups, organisations, and research bodies. These networks will explore how to expand the capacity of VCS organisations to conduct community research and increase local intelligence which can shared with key strategic partners to improve policy and practice.
We believe that it is time to invest in our VCS leaders. Next year we plan to launch a new CEO Network to encourage, guide, support and develop VCSE leaders, and discuss the big strategic issues facing their organisation, sharing leadership experiences with others, and seeking the advice and support of our peers.
We crudely calculate that there are over 10,000 trustees of VCSE organisations in Camden. They are critical to VCS provision in the borough and many the sector couldn't survive without them. Next year we plan to launch a Trustees Network that brings together trustees from different VSCE organisations in Camden to share experiences, good practice, ideas and offer peer support thereby strengthening the quality of trusteeship in the borough.
## Ukraine refugee response
In partnership with London Borough of Camden, VAC is establishing a sense of the responses planned by the local community to the Ukraine Refugee crisis. In relation to the Homes for Ukraine scheme, LB Camden has shared that 63 Visas have been approved, 245 Visas are awaiting approval, and 233 sponsored household offers has been received. The wards with the highest numbers of offers include Highgate, Belsize, Hampstead Town, and Swiss Cottage.
VAC has hosted a discussion on the community response and will continue to provide a space for community organisations to hear and discuss what is happening at a statutory and community level. We have designed a new web page on our site that provides a comprehensive list of information, advice and guidance for residents and community organisations. This web page will continue to be updated as new information emerges. We are also keen to hear about the ideas residents and community organisations might have, and how best to coordinate the responses. We have designed and promoted a short survey to collect this important information.
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## Trustees’ annual report
## For the year ended March 2023
## VCSE ICS Alliance strategy development
VAC is a member of the VCSE ICS Alliance. The Alliance has two functions:
1. To provide a strategic network for Voluntary, Community, Social Enterprise (VCSE) organisations working within the North Central London Integrated Care System
2. To provide a strong voice for the VCSE to tackle health inequalities and to maximise the value and impact of the sector on the health and wellbeing of their communities.
Over the last few months, the Alliance has been informing and shaping the VCS ICS Alliance strategy which sets out how the NCL Integrated Care Board (ICB) should work with VCSE. At the heart of the new strategy is the road map to working in partnership with NCL ICB to design and deliver innovative community-focused and strength-based models of care; developing procurement and contracting processes that support a strong and thriving VCSE; and building infrastructure, resource and expertise across the sector. There are real opportunities to improve our local communities’ health and wellbeing as a system, through strengthening the way we VCSE works with NCL. VAC is committed to demonstrating the success of working with VCSE and the social value they bring into the health and social care system, alongside the positive impact of strength and community assetbased projects that address health inequalities. See appendix 5 for the draft strategy.
## 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.
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.
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## For the year ended March 2023
## 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.
VAC’s established and long-standing partnership with Camden’s Safeguarding Children’s Partnership has been at the forefront of tailor-made safeguarding training, consultation and support; flexible to the needs of its communities for the last 16 years.
Within the last five years of this current contract and during lockdown and the pandemic, the project has proven a lifeline to grassroot voluntary sector organisations, community centres, supplementary schools and faith groups; supporting minority, ethnic and marginalised groups in Camden through virtual training, consultancy and safeguarding support.
This year, the project delivered:
- 15 X Virtual, 2 X Face-to-face Safeguarding Introduction courses (covering content equivalent to a level 1 certification).
- 4 X Safeguarding Advanced face-to-face, full day training sessions.
- 4 X Virtual Introduction to Safeguarding for new Trustees (half day session delivered quarterly)
- 2 X new Virtual courses, An Introduction to safer recruitment for community organisations and voluntary groups.
- This accounted for a total number of 27 courses, with 211 learners, across 76 Camden VCS organisations and groups.
The project continues to evolve in response to the safeguarding needs of its organisations, volunteers and communities. We hope to continue and expand our innovative and adaptive training programme, expand our consultancy services with the addition of administrative assistance and offer bespoke support that embeds safeguarding into the fabric of service delivery. Sessions delivered in response to feedback and consultation received from black, minority and marginalised groups within micro-communities in 2022 included three face-to-face Community Safeguarding Workshops and one virtual session:
- Women and Girls Safety, May 2022 in partnership with the MET Police service and the Safeguarding Foundation.
- Abuse Linked to faith and belief (in partnership with the African Health Forum and the National FGM Centre) in June 2022.
- Understanding Radicalisation, Terrorism and Extremism (in partnership with Camden Prevent and the Home Office) Nov 2022.
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- Understanding the online world and the dangers of social media, in partnership with Camden Supplementary Schools Forum, Nov 2022.
## 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.
We have linked community groups and individuals to other services provided by VAC and, where required, supplementing these services in order to better enable community organisations and individuals to meet the project’s aims around mental health.
Our key partners in 2022/23 included:
- Rhyl Primary - Central
- Calthorpe – South
- Happy Valley – hosted at Calthorpe – South confirmed
- Somers town Mosque – South- pending
- Recovery College – St Pancras Hospital – peer support group (Winter)
## Vaccine Community Champion
VAC secured funding from London Borough of Camden to design and deliver a new grants programme - ‘Community Champion Project’ as part of The Department of Levelling Up Housing & Communities (DLUHC) funding to reduce inequalities in the uptake of COVID vaccination in our communities. The purpose of the project is to tackle misinformation and encourage vaccine takeup primarily, whilst addressing wider health and wellbeing outcomes but not exclusively for Covid19, with a particular focus on unvaccinated population and the following groups:
- People from Caribbean & Black African communities
- Adults living in the most deprived areas
- Adults in insecure employment or un/under documented immigration status
VAC has been awarded circa £223,00, working in partnership with London Borough of Camden, C4 and Healthwatch Camden to promote and manage the new grant programme. This is a great
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## For the year ended March 2023
opportunity to continue to develop our relationship with organisations, community groups and residents that we supported during the pandemic. It also presents the platform to open up future investment opportunities from Camden and Islington Public Health.
We are inviting individuals, organisations, and community groups, including unincorporated associations from Camden, to design new and expand existing successful initiatives to encourage vaccine take up in the borough. This includes projects and events that seek to tackle misinformation and encourage vaccine take-up primarily, whilst addressing wider health and wellbeing outcomes, with a particular focus on unvaccinated population.
## Message from VAC Chief Executive Officer
My message last year focused on resilience after the most tumultuous period the sector has ever experienced. This year my message is one of grasping new opportunities. The voluntary community sector has endured chronic underinvestment for a sustained period which has inevitably led to limited resources and long-term financial uncertainty. Income from both central and local government, which make up a quarter of all sector income, has declined by 3% and 9% respectively from the previous year (NCVO 2022). The sequential crisis of the pandemic, cost-of-living and record-level inflation has enervated the sector. However, opportunities are emerging for sector leaders to help shape the recovery landscape, to start different conversations and to build new and stronger cross-sector relationships.
## New opportunities:
## Transition to Integrated care system (ICS)
ICS are partnerships of health and care organisations that come together to plan and deliver joined up services and to improve the health of people who live and work in their area. They exist to improve outcomes in population health and healthcare; tackle inequalities in outcomes, experience, and access; enhance productivity and value for money; and help the NHS support broader social and economic development. We have been playing a critical role within local health and care systems both as a service provider and a vehicle for community engagement and voice. We are key contributors in the design and planned delivery of a new operating model in Camden that will enable VCS groups, both large and small to influence and inform decision making at system level. We believe that this will ensure that community and statutory health services are perceived and understood to be equal partners thereby improving the health and wellbeing of residents.
## Technology and Artificial intelligence (AI) advancement
Digital transformation has helped to increase fundraising efforts, improve service delivery, expand trust and transparency, enhance marketing and communications, and support the day-to-day operations of charity teams. However, the pandemic revealed deficiencies in VCS digital infrastructure and digital skills. For some, the challenge of transitioning from in-person to digital
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was monumental. We have continued to support VCS organisations with improving their digital infrastructure and upskilling their staff. In the changing digital and technological landscape, delivering digital equity will remain an ongoing challenge for the VCS and its beneficiaries.
There is growing interest in using AI-powered systems to engage local communities in developing plans or solutions for pressing societal and environmental concerns. Over the coming years, VCS organisations will need support, resources, and opportunities to improve their digital skills to take advantage of digital and technological improvements, whilst maintaining best practices in security and data protection.
## Research and Development
There is renewed recognition that knowledge is alive and well in communities. Local groups and partnerships are showing how different engagement approaches, infrastructure and activities are vital and can respond more closely to local and community need. In 2022, the government announced the largest ever research and development budget, worth £39.8 billion as part of their Innovation Strategy. Over the next four years, UKRI is investing more than £4m to support grassroots groups, community organisations, charities, and local government to produce research collaboratively, and as they partner and connect with research institutions and organisations. This represents a systemic change to R&D (Research & Development) led design of community support services. We believe that the VCS should be central to driving forward this change. We have been collaborating with our Knowledge Quarter partners to develop new pipelines of community research networks made up of VCS groups, organisations, and research bodies. The networks are exploring how to expand the capacity of VCS organisations to conduct community research.
## Workforce Challenges
Voluntary organisations workforce grew by 3%, in contrast with the private sector, which experienced a 2% decrease in employee numbers over the same period. Recent data indicates that the charity sector in England is facing fresh challenges in retaining and recruiting volunteers and employees. The reason given for these fresh challenges is underinvestment in employees and failure to maintain suitable rates of pay and good working conditions. The cost-of-living crisis will make this challenge even harder for VCS employers to overcome. Many organisations are also facing challenges in sustaining the energy produced by volunteers. We have been supporting VCS organisations with recruiting new staff and promoting new employment opportunities. We plan to launch two new forums next year – ‘CEO Network’ and ‘Trustees Network’ to expand our support and encourage more Connecting, Sharing, and Learning opportunities across the sector.
## Climate Emergency
Climate, extinction, and biodiversity crises are systemic and advancing threats to the sector’s ability to create the impact it seeks. Climate change will affect different people and places unevenly, and so is likely to lead to the worsening of inequalities that already exists in society. Some people will
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be more vulnerable to the impacts, as they will be more sensitive to negative effects on their health or wellbeing or may have less capacity to respond. However, vulnerability is not inherent groups – it is determined by a mix of social, economic, environmental, and cultural factors, as well as institutional practices. The VCS needs to work towards a just transition to net-zero emissions, strategising and acting now to support a transition that will help protect the communities and places we work with from further harm.
In partnership with VCS, the council, and GLA, we plan to launch and deliver a Mission oriented 'Going Green Together' campaign for the VCSE sector in Camden. This will be a ground-breaking programme that will take VCSE organisations and community groups in Camden through a step-bystep, easy to follow process of creating a practical sustainability strategy which fits their needs. It will support the embedding of environmental knowledge and sustainable practises in their work.
## 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 30 January 2024
16
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 2023.
## 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
30 January 2024
17
## Voluntary Action Camden
Statement of financial activities (incorporating an income and expenditure account)
For the year ended 31 March 2023
|For theyear ended 31 March 2023|||||||
|---|---|---|---|---|---|---|
|Note
Income from:
2
2
2
3
4
5
5
5
Reconciliation of funds:
Total income
Expenditure on:
Charitable activities
Capacity Building
Information, co-ordination & partnerships
Promotion, policy & projects
Other trading activities
Investments
Net income / (expenditure) for the year
Total expenditure
Charitable activities
Promotion, policy & projects
Capacity Building
Information, co-ordination & partnerships
Total funds carried forward
Actuarial gains / (losses) on defined benefit
pension schemes
Net movement in funds
Total funds brought forward|Unrestricted
£
78,489
2,500
-
23,790
951|Restricted
£
40,720
110,122
191,927
-
-|2023
Total
£
119,209
112,622
191,927
23,790
951|Unrestricted
£
64,689
-
-
5,390
21|Restricted
£
58,922
49,511
235,691
-
-|2022
Total
£
123,611
49,511
235,691
5,390
21|
||105,730|342,769|448,499|70,100|344,124|414,224|
||113,962
2,500
-|57,045
116,878
208,333|171,007
119,378
208,333|127,691
-
-|81,310
43,131
192,988|209,001
43,131
192,988|
||116,462|382,256|498,718|127,691|317,429|445,120|
||(10,732)
963,000|(39,487)
-|(50,219)
963,000|(57,591)
654,000|26,695
-|(30,896)
654,000|
||952,268
(325,410)|(39,487)
66,689|912,781
(258,721)|596,409
(921,819)|26,695
39,994|623,104
(881,825)|
||626,858|27,202|654,060|(325,410)|66,689|(258,721)|
All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above.
18
Voluntary Action Camden
Balance sheet
Company no. 2388150
As at 31 March 2023
|Note
£
Fixed assets:
11
Current assets:
12
21,593
280,172
301,765
Liabilities:
13
(188,577)
13
(76,350)
15
16
11,858
615,000
Total unrestricted funds
Cash at bank and in hand
Tangible assets
Debtors
Restricted income funds
Unrestricted income funds:
Pension reserve
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net asset/liabilities
Creditors: amounts falling due after one year
Defined benefit pension scheme asset/ liability
Long term liabilities:
Total assets less current liabilities
Net assets excluding pension asset
General funds
Total charity funds|Note
£
Fixed assets:
11
Current assets:
12
21,593
280,172
301,765
Liabilities:
13
(188,577)
13
(76,350)
15
16
11,858
615,000
Total unrestricted funds
Cash at bank and in hand
Tangible assets
Debtors
Restricted income funds
Unrestricted income funds:
Pension reserve
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net asset/liabilities
Creditors: amounts falling due after one year
Defined benefit pension scheme asset/ liability
Long term liabilities:
Total assets less current liabilities
Net assets excluding pension asset
General funds
Total charity funds|2023
£
2,222|£
74,448
102,900|2022
£
3,478|
|---|---|---|---|---|
|||2,222
113,188||3,478
162,680|
||301,765
(188,577)||177,348
(14,667)||
||(76,350)||(95,879)
3,590
(329,000)||
|||115,410||166,158|
|||39,060
615,000|||
||11,858
615,000|||70,279
(329,000)|
|||654,060||(258,721)|
|||27,202
626,858||66,689
(325,410)|
||||||
|||654,060||(258,721)|
For the year ending 31 March 2023, 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 30 January 2024 and were signed on its behalf by:
Name: Benaifer Bhandari Title: Chair
Name: Cassandra Austen Title: Treasurer
19
Voluntary Action Camden
## Statement of cash flows
## For the year ended 31 March 2023
|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|£
£
177,046
951
(725)
226
177,272
102,900
280,172
2023|£
£
(86,760)
21
(3,478)
(3,457)
(90,217)
193,117
102,900
2022|£
£
(86,760)
21
(3,478)
(3,457)
(90,217)
193,117
102,900
2022|
|---|---|---|---|
||||102,900|
20
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
## 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 2023/24.
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
Support and governance costs have been allocated to the specific activity areas and consequently are not shown separately on the Statement of Financial Activities.
## l) Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
21
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
## 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.
22
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
- 2 Income from charitable activities
|2
Income from charitable activities|||||
|---|---|---|---|---|
|3
4
NHS NCL - Community Action Research
CNWL Stroke and Neurology Service - Social Prescribing
LBC Core Grant
LBC - Community Impacts Resilience
LBC - CIA
Mind in Camden - Adult MHPM and Cultural Advocacy
Training/Other activities
NCL CCG - Winter Outreach
Camden Psychotherapy Unit
Others: Donations, Furlough & LBC VCS webinar
Camden Islington - Green Social Prescribing
Age Uk Camden - Community Links
Healthy London Partnership - Social Prescribing Innovation
NLCF - Awards for All
Cooperative Foundation - Space to Connect
VCSE - Alliance
LBC Healthwatch - Camden Community Vaccine Champion
VCSEP Local Intelligence Network Grant
UCLH - Long Covid Project
London Plus - Thriving Communities Programme
Tides Foundation (Google) -Community Space & Digital CB
NAVCA - Ukraine Infrastructure Fund
Income from investments
Income from other trading activities
Interest receivable
Sub-total for Capacity Building
LBC - Community Partnership Advisory Service
LBC - Camden Network Alliance
Total income from charitable activities
Sub-total for Promotion, policy & projects
Sub-total for Information, co-ordination & partnerships|Unrestricted
£
63,489
15,000|£
40,720
Restricted|2023
Total
£
63,489
-
15,000
40,720
-
-|2022
Total
£
63,489
6,830
41,047
11,045
1,200|
||78,489
2,500|40,720
48,011
14,250
47,861|119,209
2,500
48,011
14,250
47,861
-|123,611
48,011
1,500|
||2,500|110,122
5,000
40,000
89,852
7,850
25,685
10,000
7,055
6,485|112,622
5,000
40,000
89,852
7,850
25,685
10,000
-
-
7,055
6,485
-
-|49,511
89,852
39,987
18,000
30,000
7,266
14,694
35,892|
||-
80,989|191,927
342,769|191,927
423,758|235,691
408,813|
||Unrestricted
£
23,790|£
Restricted|2023
Total
£
23,790|2022
Total
£
5,390|
||23,790|-|23,790|5,390|
||Unrestricted
£
951|£
Restricted|2023
Total
£
951|2022
Total
£
21|
||||||
||951||951|21|
23
Voluntary Action Camden
## Notes to the financial statements
## For the year ended 31 March 2023
## 5 Analysis of expenditure
## Charitable activities
|Staff costs (Note 7)
Other staff costs (Note 7)
Property
Office adminstration
Audit & Independent Examination
Legal & professional fees
Newsletter & publications
Other
Depreciation
Website & IT
Evaluation & consultancy
Special projects & events
Insurance
AGM & Summit
Bad Debt Write Off
Support costs
Governance costs
Total expenditure 2023
Total expenditure 2022|Capacity
Building
£
91,706
19,000
-
-
-
-
-
-
-
14
1,122
354
-
-
-|Information, co-
ordination &
partnerships
£
46,233
1,686
895
-
1,072
279
1,688
624
1,346
9,843
18,757
515
600
2,156|
Promotion,
policy &
projects
£
63,242
3,251
1,817
-
2,572
497
2,157
675
2,111
2,458
29,498
594
459
4,314
113,648
84,288
10,398
208,333
192,988|Governance
costs
£
19,511
3,500|Support costs
£
118,585
-
2,863
1,585
-
2,183
444
2,079
681
1,945
5,446
27,250
589
518
-|2023
Total
£
339,277
19,000
7,800
4,298
3,500
5,828
1,220
5,924
1,981
5,416
18,869
75,859
1,698
1,578
6,470|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|
|---|---|---|---|---|---|---|---|
||112,195
52,122
6,690|85,695
27,759
5,923||23,011
-
(23,011)|164,169
(164,169)
-|498,718
-
-|445,120
-
-|
||171,007|119,378||-|-|498,718|445,120|
||209,001|43,131||-|-|445,120||
Of the total expenditure, £116,462 was unrestricted (2022: £127,691) and £382,256 was restricted (2022: £317,429).
24
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
- 6 Net expenditure for the year
This is stated after charging:
|This is stated after charging:|||
|---|---|---|
|7
£60,000 - £69,999
Service Cost on defined benefit pension scheme
Property
Independent Examination
Salaries and wages
Employer’s contribution to defined contribution pension schemes
The following number of employees received employee benefits (excluding employer pension costs) during the year between:
Operating lease rentals:
Independent Examiners' remuneration (excluding VAT):
Depreciation
Analysis of staff costs, Executive Committee remuneration and expenses, and the cost of key management personnel
Social security costs
Staff costs were as follows:|2023
£
1,981
7,800
3,500|
2022
£
1,739
3,900
3,000|
||2023
£
275,414
19,166
44,697|
2022
£
262,502
18,431
56,225|
||339,277|337,158|
||19,000|35,000|
||19,000|35,000|
||2023
No.
1|
2022
No.
nil|
- £60,000 - £69,999
The total employee benefits including pension contributions of the key management personnel were £68,446 (2022: £53462). The members of the Executive Committee were not paid and received no other benefits from employment with the charity in the year (2022: £nil). No member of the Executive Committee received payment for professional or other services supplied to the charity (2022: £nil).
No member of the Executive Committee incurred any reimbursed expenses in 2023 (2022 - nil)
- 8 Staff numbers
The average number of employees (head count based on number of staff employed) during the year was as follows:
||2023|2022|
|---|---|---|
||No.|No.|
|Total headcount|13|13|
|The staffing numbers represents:|||
|1full time VAC staff|||
|10 part time VAC staff (5FTE)|||
|2 Seconded staff to CPU|||
## 9 Related party transactions
There are no related party transactions to disclose for 2023 (2022: none).
- 10 Taxation
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
25
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
|11
12
13
14
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
All of the above assets are used for charitable purposes.
At the end of the year
Trade creditors
Amounts falling due within one year
Debtors
Deferred income
Deferred income comprises fund income received for future periods
Accruals
At the start of the year
At the start of the year
Charge for the year
Depreciation
Credit card
Tangible fixed assets
Trade debtors
Prepayments
At the start of the year
Additions in year
At the end of the year
Taxation and social security
Rent deposit
Creditors:
Net book value
Cost or valuation
At the end of the year
Amounts falling due after one year
Creditors
Deferred income|2023
£
20,964
629
-|Furniture & Equipment
£
5,217
725|
|---|---|---|
|||5,942|
|||1,739
1,981|
|||3,720|
|||2,222|
|||3,478|
|||
2022
£
65,228
2,749
6,470|
||21,593|74,447|
||2023
£
12,849
277
5,734
24,877
144,840|
2022
£
822
-
6,711
7,134
-|
||188,577
76,350|14,667
95,879|
||76,350|95,879|
||2023
£
-
-
144,840|
2022
£
50,199
(50,199)
-|
||144,840|-|
## 14 Deferred income
Balance at the end of the year
26
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
## 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 2023 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 Asset/liability
Amounts in the balance sheet
Asset/Liabilities
Net Asset/ liability
Amounts recognised in net outgoing resources are as follows:
Current service cost
Interest on obligation
Interest Income on plan assets
Total
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
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
Interest Income on plan assets
Contributions by Members
Contributions by the Employer
Contributions in respect of Unfunded Benefits
Actuarial gains / losses
Unfunded Benefits Paid
Benefits paid
Closing Fair value of plan assets
The charity expects to contribute £39,000 to its defined benefit pension plan in 2023/24.|2023
£(000)
5,708
(5,093)|
2022
£(000)
5,951
(6,236)|
|---|---|---|
||615|(285)
(44)|
||615|(329)|
||615|(329)|
||615|(329)|
||2023
£(000)
48
168
(159)|
2022
£(000)
74
132
(112)|
||57|94|
||2023
£(000)
6,280
48
168
7
(1,212)
(198)|
2022
£(000)
6,645
74
132
10
(372)
(6)
(203)|
||5,093|6,280|
||2023
£(000)
5,951
159
7
38
(249)
(198)|
2022
£(000)
5,697
112
10
53
6
282
(6)
(203)|
||5,708|5,951|
||||
27
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
- 15 Pension scheme (continued)
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|2023
2022
%
%
59%
63%
20%
15%
17%
15%
4%
7%|
|---|---|
The financial assumptions are summarised as below:
|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|2023
2022
%
%
5%
3%
0%
0%
4%
4%
3%
3%
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.
Amounts for the current and previous four periods are as follows:
|Defined benefit obligation
Plan assets
Surplus/Deficit
Experience adjustments on plan assets
Experience adjustments on plan liabilities|2023
£
(5,093)
5,708|2022
£
(6,280)
5,951|2021
£
(6,645)
5,697|2020
£
(5,459)
4,430|2019
£
(6,334)
4,983|
|---|---|---|---|---|---|
||615
(249)
(672)|(329)
282
(17)|(948)
1,259
66|(1,029)
(515)
299|(1,351)
167
(5)|
## Further actuarial assumptions:
Life expentancy is based on the Fund's VitaCurves with improvements in line with the CMI 2021 model, with a 10% 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 21.5 years 24.6 years Future pensioners * 23.2 years 25.5 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 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.
Furure Pensionners 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.
Please note that the mortality assumptions used to value the Obligations in the Employer's Closing Position are different to those used to value the Obligation in the Employer's Opening Position.
28
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
|16a
16b
Net assets at the end of the year
Tangible fixed assets
Net current assets
Defined benefit pension liability
Defined benefit pension Asset/liability
Analysis of net assets between funds (prior year)
Net assets at the end of the year
Analysis of net assets between funds (current year)
Net assets
Tangible fixed assets|General unrestricted
£
2,222
9,636
615,000|£
-
-
Designated|Restricted
£
27,202
-|Total funds
£
2,222
36,838
615,000|
|---|---|---|---|---|
||626,858|-|27,202|654,060|
||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)|
|17a
Total restricted funds
General funds
Restricted funds:
Movements in funds (current year)
Total unrestricted funds before pension reserve
Age Uk Camden - Community Links
VCSE - Alliance
Mind in Camden - Adult MHPM and Cultural Advocacy
Tides Foundation (Google) -Community Space & Digital CB
Total funds including pension fund
Pension reserve
Healthy London Partnership - Social Prescribing Innovation
UCLH - Long Covid Project
CNWL Stroke and Neurology Service - Social Prescribing
LBC - Camden Network Alliance
LBC Healthwatch - Camden Community Vaccine Champion
NAVCA - Ukraine Infrastructure Fund
Camden Psychotherapy Unit
LBC - Community Partnership Advisory Service
NHS NCL - Community Action Research|At the start of the year
£
16,937
14,141
7,769
27,842
|Income & gains
£
40,720
48,011
14,250
47,861
5,000
40,000
89,852
7,850
25,685
10,000
7,055
6,485
-|losses
£
(40,720)
(59,568)
(14,250)
(47,861)
(5,000)
(40,000)
(97,278)
(7,850)
(29,071)
(10,000)
(7,055)
(6,485)
(17,118)|Transfers
£|At the end of the year
£
-
5,380
-
-
-
-
6,715
-
4,383
-
-
-
10,724|
|---|---|---|---|---|---|
||66,689|342,769|(382,256)|-|27,202|
||3,590|105,730|(116,462)|19,000|11,858|
||3,590|105,730|(116,462)|19,000|11,858|
||(329,000)|963,000||(19,000)|615,000|
||(258,721)|1,411,499|(498,718)|-|654,060|
Purposes of restricted funds
## 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.
LBC Community Partnership Advisory Service
Working to improve the way agencies and communities work together to safeguard children and young people; strengthening links between black and minority ethnic groups / organisations and statutory services and promoting good practice that enables safer communities
LBC - Camden Network Alliance
On behalf of the Camden Resilience Alliance, VAC employs and supervises the Camden Network Alliance Manager (freelance consultant) on a montly basis equating to a total forecated income and expenditure of £36,925.
LBC Healthwatch - Camden Community Vaccine Champion
On behalf of London Borough of Camden and in partnership with C4, VAC delivers a community grant programme to; improve knowledge of the Covid-19 Vaccination; increase uptake of the vaccination; and address wider health inequalities in the borough's most diverse communities. The total forecasted restricted income and expenditure equates to £72,552.46 of which £48,420 is given as grants to VAC members delivering projects related to the programme.
29
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
## 17a Purposes of restricted funds (continued)
## NAVCA - Ukraine Infrastructure Fund
VAC is providing capacity and capability support to Families4Peace, a local Ukraine refugee response community service for 1 year. The support includes; planning and convening community partnership forums; supporting community events; providing free access to networks; providing free access to VAC training. The total income equates to £5,000, with a total expenditure of £3,300 (excluding management fee of £1,700).
## NHS NCL - Community Action Research
VAC is facilitating organisation for CAR project supporting grass roots groups to carry out research with minoritised communiities. Soluntion focussed research based on lived experience and reflective practice.
## 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.
## VCSE - Alliance
The North Central London Voluntary Sector (NCL VCSE) Alliance is a steering group of infratstructure organisations from the 5 North Central London Integrated Care System boroughs. The role of the alliance is to present a voice for the VCSE sector within decision making structures of the system. VAC represent the Camden VCS on the Alliance.
## 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.
## Healthy London Partnership - Social Prescribing Innovation
Innovation Award to develop volunteering roles as pathway to employment . Short project to test and learn approach with aim of supporting recruitment and retention of social prescribers.
## CNWL Stroke and Neurology Service - Social Prescribing
CNWL Stroke and Neurology service buy into the Community LInks service for one day per week to improve discharge experience for patients under the care of their Occupational Therapists. Staff work with the therapists building confidence in connecting their patients with community based opportunities near to where they live. The patients who are Camden residents are then referred on through social prescribing. The aim is to speed up discharge and maintain patients health and social wellbeing after leaving clinical care.
## UCLH - Long Covid Project
3 month test and learn approach to explore how social prescribing works for long covid patients being discharged from UCLH Long Covid Clinic. Followed by participation in 'case finding' and support for long covid research carried out by University of Southamptom with UCLH Clinic
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
## 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 2023
|17b
Total restricted funds
Total designated funds
General funds
Tides Foundation (Google) -Community Space & Digital CB
NCL CCG - Winter Outreach
Staff Contingency & Pension Fund
Restricted funds:
London Plus - Thriving Communities Programme
Pension reserve
UCLH
Designated funds:
Total funds including pension fund
Unrestricted funds:
Total unrestricted funds before pension reserve
Mind in Camden - Adult MHPM and Cultural Advocacy
Camden Islington - Green Social Prescribing
LBC - CIA
LBC BAME Fundraising Support
Camden Psychotherapy Unit
NLCF Awards for All
LBC Community Partnership Advisory Service
VCSEP Local Intelligence Network Grant
Age Uk Camden - Community Links
Cooperative Foundation - Space to Connect
Movements in funds (prior year)|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|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.
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
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
31
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
## 17b Purposes of restricted funds (continued)
## 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
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.
32
Voluntary Action Camden
Notes to the financial statements
For the year ended 31 March 2023
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)
Depreciation charges
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
Total cash and cash equivalents|At 1 April 2022
102,900|Cash flows
177,272|2023
£
(50,219)
1,981
(951)
52,854
154,381
19,000|2022
£
(30,896)
(21)
(30,010)
(60,833)
35,000|
|---|---|---|---|---|
||||177,046|(86,760)|
||||Other changes
-|280,172
At 31 March 2023|
||102,900|177,272|-|280,172|
## 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|2023
£
-
-|
2022
£
-
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 2021/22 was released in the year.
33