Company number: 2388150 Charity Number: 802186 Voluntary Action Camden Report and financial statements For the year ended March 2024 Voluntary Action Camden Contents For the year ended March 2024 Reference and administrative information. Trustees, annual report................................................................................................................................................ I ndependent examiners, report.............................................................................................................................. Statement of financial activities (incorporating an income and expenditure account).......................... Balance sheet.. Statement of cash flows............................................-...-........................................................................................... Notes to the fi nancial statements.......................................................................................................................... Voluntary Action Camden Reference and administrative information For the year ended March 2024 Company number 2388150 Charity number 802186 Registered office and OperatSonal address The Greenwood Centre, 37 Greenwood Place London NW5 1 LB 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 and Trustee Mahira Mahza Treasurer and Trustee (Appointed) Lotis Bautista - Trustee Sagal Abdi-wali - Trustee Tricia Richards - Trustee Hilary Barnard - Trustee (Retired) Arvinda Gohil - Trustee (Retired) Harry Graham - Trustee (Retired) Cassandra Austen - Treasurer and Trustee (Retired) Key management Keith Morgan- Chief Executive Office- Company Secretary Banker5 National Westminster Bank plc Tavistock Square, London WCI H 9JA CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill, West Malling, Kent MEI 9 4JQ Independent Examiners Goldwins Limited Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG Voluntary Action Camden Trustees, annual report For the year ended March 2024 The trustees present their report and the financial statements for the year ended March 2024. 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 ethnically minoritised communities. Our membership continues to grow, and the charity has over 300 members. Our vlslon 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. Publlc Benefit The trustees have complied with their duty to have due regard to the Charity Commission's Public Benefit Guidance {PBI the Public Benefit Requirement, P82 Public Benefit Running a Charity and PB3 Public Benefit Reporting) when exercising powers or duties to which the guidance is relevant. Voluntary Action Camden Trustees, annual report For the year ended March 2024 Chair's Report, Benaifer Bhandari Fellow Trustees and l are so pleased to present the Voluntary Action Camden (VAC) Annual Report for 2023124. In a year when many of the 1600 charities and initiatives in Camden have tried to steady themselves in an environment bereft of funds and acknowledgement from the government of the incredible work done on a daily basis in localities with high needs VAC has shone like a star. The whole of the Voluntary Action Camden (VAC) team is amazing! It is incredible the efforts each one has made to help shore up finances, anchor VAC as a provider of high-quality support to all in the sector in the borough, as well as continuing to build relationships with our statutory, corporate and funder friends. Our relationship with Camden Council strengthened further, and we were able to be a key part of the strategic planning and rollouts that the Council have focused on to increase their reach of and impact on Camden citizens. We helped the Council see the impact of the variance in income, living conditions etc. in the borough, especially on those most vulnerable. In return, we valued being supported and seen by the Council. Between team members and Trustees at VAC, we have attended all the major boards and working spaces, representing the VCS and being the voice of those who don't have the resources or the desire to have a high enough profile to be face-to-face with the Council. The majority of the voluntary sector in Camden quietly works away in specialist areas or small localities - focussing on making bringing about positive results. It has been our role to represent them, where required, and we did that exceptionally well. We have been so proud to have continued our training and workshops with gusto- despite having to move to another building in the year. Trustees are so proud to note that whatever the circumstances, the team do not skip in beat in the quality and quantity of training and support. Rather than dropping the volume of delivery, the team managed to increase resources to those who seek support. This year they have worked with trustees across the borough, with finance teams and importantly safeguarding leads. 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. Our biggest vote of thanks goes the team at VAC who demonstrate their passion for supporting the ear on year. Voluntary Action Camden Trustees, annual report For the year ended March 2024 Charitable objectivities and Activities Voluntary Action Camden (VAC) represent5 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 supportand 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 strateglc alms To support and empower, individuals, groups and communities to become actively involved i n 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, welfare and integration Communities, civil Society organisations and individuals are empowered to collaborate across boundaries, presenttheirviews 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. Voluntary Action Camden Trustees, annual report For the year ended March 2024 Our priorities Building community resilience and community links by facilitating and supporting access to the skills and resources individuals and civil societyorganisations 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 disadvaniage, increase social cohesion and address gaps in wellbeing and health. Objects The Charity's objects (the Objects) are: l. 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 Ihereinafter called the "area of benefit") and, In particular, build the capacity of third sector organisations and provide ihem 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. Voluntary Action Camden Trustees, annual report For the year ended March 2024 Activities VOLUN iAhY > <• ACTION IAP CANqDEN 43 NEW GROUPS JOINED VAC Communlty Safeguardlng Project: .Totsl number ofvirtual and facepto-face tralning courses delNered thls year: 34 - 2023 / 2024 - .Number of learners who attended tralning this year: 298 Totsl Referrals Communlty Llnk5: Total Inbound Referrals 1.4k Total Outbound Referrals 1.9K Capaclty Bulldlng 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 grouplorganisation. Key achievements for 2023124 Our response time has improved dramatically, with VCS organisations receiving the relevant information to address some if not all of their initial enquirywithin 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 Al, and Integrated Care System. Our membership is growing as enquirers areconverted 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. Voluntary Action Camden Trustees, annual report For the year ended March 2024 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 yearwe delivered many 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. NETWORKS & TRAINING 2023124 OVER 30 NEW GROUP MEETINGS 50 TOTAL TRAINING SESSIONS 485 TOTAL ATTENDEES OVER 30 NEW TRUSTEE NEfwoRK MEMBERS OVER 50 CEO NETWORK MEMBERS NETWORK MEETINGS Ukraine Refugee Response In partnership with London Borough of Camden, VAC continues to establish a sense of the responses planned by the local community to the Ukraine Refugee crisis VAC 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 Voluntary Action Camden 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: l. 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. 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 asset- based projects that address health inequalities. Soclal Prescrlblng VAC contributes insight and learning to supportthe developmentof 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. Safeguardlng Chlldren: The Communlty Partnershlp Advlsory Servlce (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 partnershipwith 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 marginali5ed groups in Camden through virtual training, consultancy and safeguarding support. 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 se￿iCe delivery. Voluntary Action Camden Trustees, annual report For the year ended March 2023 Camden Cultural Advocacy Project (CAV) 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. 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 take- up primarily, whilst addressing wider health and wellbeing outcomes but not exclusively for Covid- 19, 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 unlunder documented immigration status VAC has been awarded circa £223,000, working in partnership with London Borough of Camden, C4 and Healthwatch Camden to promote and manage the new grant programme. Voluntary Action Camden Trustees, annual report For the year ended March 2023 Financial Review From a financial perspective, VAC had a satisfactory year. Income increased by 17.6% to £527,670. Outgoing decreased by I l% to £443,593. This resulted in a surplus of £84,709. Resenies Policy VAC holds free reserves to ensure its long-term viability. The purpose of the reserves policy is to formalise this while explaining why VAC is holding a particular level of free reserves. The reserves policy is reviewed annually. Based on its assessment of various risks, of which the main risks are set out further below, and of the quality and predictability of its income, the Board of VAC are aware that our unrestricted reserves are only slowly inching towards our policy target of 3-5 months of budgeted core operating expenses. We currently stand at having just below one month of budgeted core operating expenses, with every intention of slowly building up the reserves as our activities increase. Investments YCF has a policy not to make investments. Monies are held on account with banks or building societies. Rlsks Voluntary Action Camden's main risks are: l ) a sustained decline in funding 2) staff issues including adverse effects of having unfilled positions, recruitment costs, redundancy costs and increased staff costs. Together with the CEO, the trustees continue to monitor these risks and to take appropriate and proportional action to mitigate them. The trustees also undertake regular horizon-scanning for emerging or increasing risks. While the fundraising landscape for the charitable-sector. as a whole. is becoming increasingly challenging, VAC benefits from long-standing and strong relationships with our key funders and we continue to nurture these relationships. We also continuously seek to broaden our funding base. Our CEO leads these efforts on behalf of the charity. In respect of staff risks, the CEO and the trustees invest considerable time in preparing for various scenarios. Voluntary Action Camden Trustees, annual report For the year ended March 2023 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- 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 £02i l-. .1 Gll.Ti Name: Benaifer Bhandari Name.. Mahira Mazhar Title.. Chair Title.. Treasurer 27101125 29101125 Independent examiner's report to the trustees of Voluntary Action Camden {'the Companv) I report to the charitytrustees on my examination of the accounts of the Company for the year ended 31 March 2024.. Responslbllltles and basls of report As the charity's trustees of the Company land also it5 directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'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 201 l Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151 Ib) of the 2011 Act, Independent examlner's statement Since the Company's gross income exceeded £250.000, I confirm that l am qualified to undertake the examination because l 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: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act.. or the accounts do not accord with those records.. or 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 2025 VoluntaryActlon Camden Siatement of financlal attl￿tIeS Ilncorporatlng an Income and expendi￿re account) For the ear ended 31 March 2024 2024 Total 2023 Total Unresiri£ted Restricted Unrestricied Restricted Note Income from.. Charitable activities Capacity Building Inforrnation, co-ordination & partnership5 Promoiion, policy & projecis Other trading actlvlties Investments 63.489 125.587 193.571 138.224 .224 189.076 193.571 138.224 4.714 2.085 78,489 2,SOO 40,720 110,122 191.927 119.209 112.622 191,927 23,790 951 3.490 2,085 23,790 951 Total income 69.064 458.606 527.670 105.730 342.769 448,499 Expendllure on.. Charitable activities Capacity Building Information, co-ordlnatlon & partnershlps Promtstion, policy & projects 18.800 133.771 139.964 151.056 152.571 139.964 151.056 113,962 2,500 57.045 116.878 208.333 171,007 119,378 208,333 Total expendlture 18.800 424.791 443.591 116,462 382.256 498.718 Net In¢ome I l¢xp*ndlturel for the year 50.264 33.815 84.079 110,7321 139,4871 150.2191 Transfers between funds 8.428 18.4281 Net Income I lexpendlturel before other recognlsed galns and losses 58.692 25.387 84.079 110,7321 139.4871 150.2191 Actuarial galn5 1 Ilossesl on defined beneflt pension schernes 332.000 332.000 963,000 963.000 Net movement In funds 390.692 25,387 4 16.079 952,268 139,4871 912,781 Reconclllatlon of fund5'. Toral funds brought forward 626.8S8 27.202 654.060 1325,4101 66.689 1258.7211 Total f unds 2 5e£onded staff to CPU 9 Related party transactlons There are no related party transactions to dis(10se lor 2024 12023.. nDneTr. l O Taxatlon The chariiable Company is exernpt from corporation lax as all 115 income is charitable and is applied for charitable purpos￿s. 20 VoluThtary Actlon Camden Notes to the ftnanclal statements For the year ertd￿ 31 March 2024 I l Tanglble fixed assets Furnlture & Equlpment Cost or valuation At the start of the year Additions in year 5.942 693 At ihe end of the year 6.635 Depreclatlon At the siari of the year Charge for the year 3,720 2,212 At the end of rhe year 5,932 Net book value At the end of the year 703 At the start of the year 2,222 All of the above assets are used for charltable puip05es. 12 0ebior5 2024 2023 Trade debiors Prepayments 32,887 20.964 629 32,887 21.593 13 Credltors.. 2024 2023 Amount5 falllng due wlthln one year Trade creditors Credll card Taxatlon and soclal securitv Accruals Oeferred income 21,301 146 12.6231 8,000 12,849 277 5.734 24.877 144.840 26,824 188,577 Ampunt5 falllng du• aft•r onq y•ar Credltors 72,649 76.350 72.649 76.350 14 Deferred Income Deferred income comprises fund irbtomt received for future ptriods 2024 2023 Balance ai the beglnnSng of Ihe year Amount released to Income In the year Amount deferred in the year 144.840 1144,840) 144.840 Balance at the end of the year 144,840 21 VoluThtary Actlon Camden Notes to the ftnanclal statements For the year ertd￿ 31 March 2024 15 Penslon scheme Voluntary Action Camden participate5 in the Local Government Pension kheme ILGP51, a defined benefit scherne. The Scheme 15 administered in accordanie with the Local Government Pension Scherne Regulations 1997 and is Contfacted out of the State Seiond Pension. The Administering Authority for the scheme is the London Borough of Camden. Contributions to the schÈmÈ art tharged to the Statement of Financial Activities so as to spread the cost Df pÈnsions over employees, working lives with the charity. The contributions are determined by a qualified attuary on the basis of triennial valuations usin9 thÈ pfojetted unit method. A full actuarial valuation of Voluniary Action Carnden'5 a55eis and liabilities ￿thin ihe LGPS a5 ai 31 March 2024 wa5 carried our by a qualified independent actuary. The actuary'5 calculation5 have been prepared under Financial Rewbrring Siandard 102 IFRSI 021 i55ued by ihe Financial Reponing Council. The employee benefit obligations recognised in ihe balance sheei are a5 follows.. 2024 2023 Fair value of plan assets Prèseni value of funded obllgatlons 5.964.000 14.982.000) 5.708.000 15.093.000) Net Underloverfundlng Funded Hans PrÈseni value of unfunded obligatlons 982.000 615.000 Nei Assetlliability 982.000 61S.000 Amounis In the balance sheet 982.000 61S.000 982.000 61S.000 Amounis recognised in net outgolng resources are as follow5.. 2024 2023 Currenr serwice cost 24.000 235.000 1264.0001 48,000 168,000 11 S9,0001 Inieresi Income on plan assets Total 15,0001 57,000 Changes In the present value of the deflned benefii obllgarion are as follow5.. 2024 2023 Openln9 defined beneflt obllgatlon Service c05t 5,093,000 24,000 235,000 5,000 137,0001 6,280,000 48,000 168,000 7,000 11,212,000) Contributions by Members Aciuarial losse5 1 gains E51imaied Unfunded Benefirs Paid E51imaied Benefirs Paid 1338,0001 1198,0001 Closing defined benefir obligarion 4,982,000 5,093,000 Changes in the fair value of plan a55e15 are as follow5.. 2024 2023 Opening Fair value of Employer A55et5 Inrere5r Incorne on plan asse15 Coniribuiions by Members Coniribuiions by Ihe Ernployer Coniribuiions In re5peci of Unfunded Benefits Acruarial gains 11055es Unfunded Benefits Paid eenefi15 paid 5,708,000 264,000 5,000 30,000 5.951.000 1 $9,000 7,000 38,000 295,000 1249,0001 1338,0001 1198,0001 C105ing Fair value of plan a55et5 5,964,000 5,708,000 The charity expects to contribute £23.000 to its defined benefii pension ￿3￿ in 2024125. 22 VoluThtary Actlon Camden Notes to the ftnanclal statements For the year ertd￿ 31 March 2024 15 Penslon scheme Iconilnuedl The major categories of plan a55ets as a percentage of tot￿ plan a55et5 are as follow5.' 2024 2023 Equltles Isplit inio material classes eg.. European. North American) Bonds Isplit into material classes eg.. European, North American Property Cash 54% 26% 15% 5% 59% 20% 17% 4% The financial assumption5 are 5ummarised a5 below.. 2024 2023 Dlscount rate ai the end of the year Expecied return on Dlan assets ai Ihe end of ihe year Future salary increases Future penslon Increases 5% 5% 3% 3% 4% 3% The expected rare of return on a55èt5 IS taken from the Hyman5 Rot*rt5011'5 propneiary a55ei model. The model paramettr5 are callbrated to market condltion5 on a monthly bas15. Amount5 for the current and previous four perlod5 are a5 foll¢)w5' 2024 2023 2022 2021 2020 Deflned benefir obllgatlon (4,982.0001 5 964 000 15,093,000) 16,280.000) 16,645,000) 5 697 000 15.459.000) 4 430 000 982.000 295,000 17SOOO 615.OCKI I249.0(￿> 1329.OODI 282.000 1948.0001 1.259.000 11.029.000) 1515.0001 299 000 E¥perleDce adlusrments on plan assets Experience adju5trnents on plan liabiliiies Further actuarial assurnptlon5'. Llfe expectancy Is based on the Fund's VltaCuNes wlth Improvements In Ilne ￿th the CMI 2022 model. wlth a 25% vielghtlng of 2022 data, a 0% wei9htlng of 2021 land 20201 data, standard smoothing (Sk7), Initial adjustment of 0.25% and a long term rate of Improvemeni of 1.5Y6 p.a. for boih males and femalts. Based on these assurnpiions. the avtra9e fuivre life expectancies at age 65 for the Employer are summarised below.. Males 21.3 years 23 years Females 24.4 years 25.3 years Current Pensioners Futu￿ pensioners Figures assume members aged 45 as at last fomlal valuatio* date Llfe expectancies for the pdor period end are based on Ihe Fund's Vitacurves. The allowance lor future improvements are shown btlow.. Current Penslontrs CMI 2021 model. wlth a l (IA welghtlng of 2021 land 2020) dara. siandard smeeihing ISk71. initial adjusiment of 0.25X and a long rerm raie of irnproverneni of l.S% p.a. Furure Pen55oThners CMI 2021 model. with a l ￿ welghtlng of 2021 land 2020) data, standard smooihing ISk71. initial adjustment of 0.25% and a long ierrn rate of improvement of 1.5% p.a. Please noie that the mortalliv assumptions Used 10 value ihe Obllgaiions In ihe employerfs Closlng Poslllon a￿ dlffereni io those used to value rhe Obllgaiion In the Employe¢s Opening Posltlon. 23 VoluThtary Actlon Camden Notes to the ftnanclal statements For the year ertd￿ 31 March 2024 16a Analysls of net assets between funds (current year) neral unrestricted Designated Restricted Total funds Tangible fixed a55et5 Nei assets Defined benefit pension A55etlliability 703 34.847 982.000 703 87,436 982.000 52.589 Net assets ai the end of the year 1,017,550 52,589 1,070,139 16b Analysls of net asseis between funds Iprlor year) Ceneral unresrncied Designated Resrricied Total funds Tangible fixed a55et5 Nei curreni assets Defined benefit pEn5ion liability 2.222 9.636 615,0(K> 2,222 36,838 615.000 27,202 Net assets ai the end of the year 6Z6,858 27,202 654,060 17a. Movements In funds (current yearl Ai Ihe siart of ihe year Income & gains 1055es Transfers At the end of the year Restrlcted funds.. Camden Psychotherapy UnSt LBC - Community Parrner5hip Adv150ry Serylce LBC- Camden Network Alllance LBC Healthwarch - Camden Cornrnunllv Vacclne Champion LBC-Trusiee Network NAVCA - Ukraine Infrastruciure Fund LBC- Communlty Resiliance Fund- CVS Award5 for All- CVS Ciiy 8rldge Trust- CVS LBC- Communlty Research Nerwoth- CVS LBC- Comrnunlty Impact Re5iliance- CVS Age Uk Camden - CommJnlly Links VCSE - Alliance- CornrnuniEY Link5 Mind In Camden - Adult MHPM and Cultural Advocacy CNWL Stroke and Neurology Servlce Soclal Prescrlbing- C Tides Foundation (Google)-Communiry Space & Oi91tal C8 35.791 48,731 54.250 72,522 10.568 5,000 9.942 7,500 50.000 1,224 29.8S4 89,850 6.050 25.685 11,639 135.251) 143,1071 114.865) 172,9241 19.0681 15,(KX)I 19.9421 17,5001 150,0001 15401 14,8011 5.380 6.203 39,385 402 1,500 129,8S41 1102,1961 16,OSOI 117,0671 6.715 5,631 4.383 17,5001 s,soi 10.724 19,104) 11,6201 Total r•5trlctqd funds 27.202 458,606 {424,791) 18,428) 52,589 General funds 11.858 69.064 118,800) 126,5721 35,SSO Total unre5trlrred lund5 before penslon reserve 11.858 69,064 118.8¢)01 126,572) 35.550 Penslon reserve 615,(￿) 332.OCK) 35,000 982.000 Total fund5 Includlng pen51on fund 654,060 859.670 {443,591) 1,070.139 24 VoluThtary Actlon Camden Notes to the ftnanclal statements For the year ertd￿ 31 March 2024 17a Purposes of restrlcted funds Camden Psychotherapy Unit The Director and Ihe Adminisirator are both VAC employees and are secormled to CPU. who reimburse VAC for ihe full c05[ of salary and pension. Clty Brlde Trust Core siaff £osis are covered by a Restricted grant from City Bridge Trust. 2023124 15 year one of the ihree year grani. LBC- Trustee Netsvork Developed and delivered in partnership wirh Volunteer Centie Camden. VAC bring5 tOget￿r trustee5 from different organisations to Share experieniei good practice, ideas and tsffer peer support. Funded by Camden Council. LBC Communlty Partnershlp Advlsory Servlce Working to Improve Ihe way agencies and communities work together to saFeguard children youNJ people,. strengthening links bett¥een black and minority erhnic 9roups l organisations and staiutory services and promoting good practice that enables safer communiiies LBC - Camden Neiwork Alllance On behalf of the Camden Resilience Alliance. VAC employs and Supe￿1$t$ the Camden Ne¢work Alliance Margger (freelance consultant) on a montly basis. LBC Healthwatch - Camden Comrnunity Vaccine Champion On behalf of London Borough of Camden and In partnership wlth C4, VAC dellvers a communlty grant programme to." 5mprove knowledge of the Covld-19 Vaccination,. Increase uptake of Ihe vaccination,. and address wider health Inequalitses In the borough's most diverse communilies. NAVCA - Ukralne Infrastructure Fund VAC is providing capaciry and capabiliry support ro Familie54Peace, a local Ukraine refugee response community 5ervlce for I year. The support includes., plannlng and convening community panner5hip forum5'. 5upponiThJ community events.. providin9 free acces5 to neThworks.' providing free access to VAC rraining. Age Uk Camdtn - Cornmunlty Llnks VAC recrults 3nd tralns Ioc31 people 10 volunteer In Camden GP practices. These Community Links Volunieers promoie community based servlces and actlvltles that contribute 10 3 healthier Ilfesiyle. The project will Increase local knowledge (including CP knowledge) abotsr preventlon and health improvlng activitles delivered by local organisarions. Our long ¢erm aim is ¢0 develop ihe Community Links role In local NHS commissioniNJ. VCSE - Alllance The North Central London Volunrary Secror INCL VCSE) Alliance Is a steerlng group of infraistructure organlsailons from ihe S North Ceniral London Inregrated Care System borough5. The role of rhe alllance is ro pre5eni a voice for ihe VCSE secior wirhin decision making 5rrucrures ol ihe sy51em. VAC represent the Camden VCS on Mlnd Irb Camde Aduli MHPM and Cultural Advocacy Works In partnership wlth communilv organ15ations to develop good practice In understandltwj. supporting and actlvely et)gaglng wlth users that may be emperlenclng The CAP work5 wilh different 8AME cornmunities through the organisations they attend and ￿lI•Se, io reduce the sense of isolation they feel., raise awarene55 of mental health and well-belng from a culrural perspeciive., enable individuals io access servlces and support In a ilmely way. CNWL Siroke and Neurology Serylce - Soclal Prescrlbln9 CNWL Stroke and Neurology service buy inio rhe Community Llnks service for one day per week io Improve discharge experience for patlent5 under the care of their Occupatlonal Therapists. Staff work wlih rhe therapists building confidence in connecting their parients with community based opportunities near to where they Ilve. The patients who are Camden residents are then referred on through social pre5cribiThJ. The aim is ro Speed up discharge and maintain patienis health and social wellbelng after leavlng clinical care. Staff Contlngency and Penslon Fund The fund has been e51abli5hed to make provision for the possibiliry of long term staff absence and other liabilities and contingencies. The timing of expenditure depends on if and bvhen these costs arise. 25 VoluThtary Actlon Camden Notes to the ftnanclal statements For the year ertd￿ 31 March 2024 17b Movements In fijnds (prh)r ￿1) At the Start of the year IwK(bThe & gains 1055e5 Transfer5 At the end of the year Restrlcted funds.. Camden Psychotherapy Unit LBC - C¢mmunlty Partnershlp Advlsory Serylce LBC - Camden Network Alliance LBC Healthw3tch- Camden Community Vaccine NAVCA- Ukraine Infrasiructure Fund NHS NCL- Community Aciion Research Age Uk Camden - Community Links VCSE Alliance Mind In Camden Adult MHPM and Cultural Advocacv Healihy London Partnership Social Prescribing CNWL Stroke and Neurology Service Social Prescribing UCLH Long Covid Project Tides Foundation (Cooglel -Comrnunity Space & Digiial 40.720 48.011 14.250 47,861 5,000 40,000 89,852 7,850 25,685 i 0.000 7.055 6.485 (40.720) (59.568) (14.250) (47.861) 15.000) (40.000) (97.278) 17.850) (29.071) (10.000) 17.055) 16,485) 16.937 5,380 6.715 7,769 4.383 27,842 10.724 Total rtstrlcted funds 66,689 342.769 1382.2S6) 27,202 Revaluatlon reserve General lunds 3.590 105.730 1116.462) 19,000 11.858 Total unrestrlcied funds before penslon reserve 3.590 105.730 1116.462) 19.000 11,858 Penslon reserve 1329.000) 963.000 (19,0001 615,000 Total funds Includlng penslon fund 1258.721) .41 1.499 1498.718) 654,060 18 Rttontlllatlon ot net Income I lexptthdllurt) to ntt cash flow from operatln4 actlvltles 2024 2023 Met (txptndlturel for the rep•rtln• perlod las per the statement of flnanclal acilviilesl Depreciation charge5 Dividends, InTeresi and rènt from in¥esimenis 84,079 150,2191 2.212 12.085) S2,854 (16S,454) Penslon ieseNe fundlng mo¥ements Met cash lused In) operatlng actlvltles (127.542) 177,046 19 Analysls of cash and cash equlvalenis A¢ IAptil 2023 C•sh flows f han9es At 31 March 2024 Cash at bank and In hand 280.172 1126,ISOI 154.022 Total