## **REGISTERED COMPANY NUMBER: 2409902 (England and Wales) REGISTERED CHARITY NUMBER: 802632** 

## **TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 FOR HASTINGS VOLUNTARY ACTION** 

Hastings Voluntary Action Jackson Hall Portland Place Hastings East Sussex TN34 1QN 



## **HASTINGS VOLUNTARY ACTION** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** 

||Page|
|---|---|
|Reference and Administrative Details|1|
|Trustees' Report|2 to 4|
|Statement of Trustees' Responsibilities|5|
|Independent Examiner's Report|6|
|Statement of Financial Activities|7|
|Balance Sheet|8|
|Cash Flow Statement|9|
|Notes to the Financial Statements|10 to 18|
|Detailed Statement of Financial Activities|19|





## **HASTINGS VOLUNTARY ACTION** 

## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021** 

## TRUSTEES 

Mike Cornish, Winterbourne Close Residents Association Graham Goode, Skills and Learning in the Community (SLIC) Ken Hales, Hastings & St. Leonards Seniors' Forum James Johnson, Friends of Africa and the Caribbean in England (FACE) 

Julia Wells, HOPE G 

Helen Barraclough, Education Training Consortium Vic Kempner Dr. Nell Chang, Hastings Chinese Association Mary Carter 

Dawn Poole, Hastings & Rother Credit Union (appointed Oct 2020) Roger Sweetman, East Sussex Community Voice (until June 2020) 

COMPANY SECRETARY S J Manwaring REGISTERED OFFICE Jackson Hall Portland Place Hastings East Sussex TN34 1QN 

REGISTERED COMPANY NUMBER 2409902 (England and Wales) REGISTERED CHARITY NUMBER 802632 INDEPENDENT EXAMINER Ashdown Hurrey Auditors Limited Statutory Auditors 20 Havelock Road Hastings East Sussex TN34 1BP 

Page 1 



## **HASTINGS VOLUNTARY ACTION** 

## **TRUSTEES' REPORT** 

## **FOR THE YEAR ENDED 31 MARCH 2021** 

Hastings Voluntary Action is a company limited by guarantee and a registered charity founded on 1 August 1989, and governed by its Memorandum and Articles of Association agreed on 16 November 2018. The directors of the company, who are also the trustees of the charity for the purposes of the Companies Acts, submit their annual report and financial statements for the year ended 31 March 2021. The trustees confirm that the annual report and financial statements comply with current statutory requirements, the requirements of the charity's governing documents and the provisions of 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). 

As set out in the Articles of Association, members of the executive committee are elected at the annual general meeting. These trustees have the power to co-opt, provided that such co-opted members shall never comprise more than one-third of the executive committee. 

## **OBJECTIVES AND ACTIVITIES** 

## **AIMS AND OBJECTIVES** 

The Charity was established for charitable purposes only and its objects shall be to promote the benefit of the inhabitants of the Borough of Hastings and its neighbourhood, without distinction of sex, race or political, religious or other opinions in such ways as the Charity shall from time to time determine. 

## **Review of the Year** 

During the year, the COVID 19 pandemic has impacted significantly on every aspect of community life locally, nationally and globally. This has affected how Hastings Voluntary Action has operated during this year, with much effort diverted to tackling the impacts of the pandemic, and for parts of the year HVA staff and trustees have had to follow government guidance and work remotely. 

HVA took a leading role in creating, chairing and administrating a COVID 19 Community Hub to bring together partners from all sectors, to share information, co-ordinate activities, and deliver a range of service to vulnerable residents affected by COVID 19 and the subsequent lockdowns. 

During the crisis, HVA has helped to get food to people in the Borough, by participating in a DEFRA scheme to distribute food to those that need it, and organising a Food Network of organisations such as Hastings Foodbank to co-ordinate their activities. During the year the Food Network widened their scope to look at reducing food waste, and growing food. 

HVA supported NHS colleagues with the roll out of the vaccine programme, such as providing local intelligence about hotspots and potential vaccination sites, and recruiting volunteers to support the programme. HVA, along with other partners, also ran a successful #ImGoingForZero public awareness campaign, with videos from a range of notable local leaders. 

In order to support isolated people during the lockdowns, HVA set up a volunteer-run telephone befriending scheme which became a lifeline for over 100 local people. 

HVA responded to the many people who wanted to help others in the local community, and we helped over 260 people in volunteering activities during the pandemic, with the majority during the first lockdown. 

HVA increased the volume of information that we published, to publicise sources of support and to help people in the Borough to keep up to date with changes to local services and latest guidance. We increased the frequency of our ebulletins from fortnightly to weekly to 1700+ readers, and also increased posts on social media and HVA’s website. 

HVA dealt with casework to support organisations facing change to their operating environment. We responded to a broad range of themes including human resources, furloughing, setting up new organisations, winding down organisations, mergers & collaboration, health & safety risk management, organisational development, financial management, funding advice, marketing and promotion and data management. 

A funding advice service provided advice and support to local groups and supported inward investment to Hastings – the most deprived area in the South East of England – levering in over £1,000,000, and creating or sustaining over 25 jobs. HVA contributed to building the skills and knowledge of local VCS groups by running 11 online training sessions, courses and seminars. 

Through its support of Hastings Community Network, HVA enabled the sector to represent itself on key strategic bodies such as the Local Strategic Partnership and other key strategic bodies. HVA regularly consulted and engaged with its member organisations on a range of key issues to ensure that Voluntary and Community Sector (VCS) groups could be advised of major policy changes. Quarterly networking events were held to bring together a range of organisations with a view to improving local service delivery and referrals between them. During the reporting period HVA oversaw elections to the Executive of the Network. HVA also supported the development of a strategic alignment between East Sussex County Council and the leaders of Voluntary Community and Social Enterprise Sector. Known as Partnership Plus this work has supported work streams to improve workforce development, commissioning, and cross sector knowledge and understanding.  This work has resulted in the publication of research conducted by the Institute of Voluntary Action Research examining the economic contribution of the VCSE in East Sussex. 

Page 2 



## **HASTINGS VOLUNTARY ACTION** 

## **TRUSTEES' REPORT** 

## **FOR THE YEAR ENDED 31 MARCH 2021** 

## **OBJECTIVES AND ACTIVITIES continued** 

## **Review of the Year continued** 

HVA worked with NHS partners to plan to meet the challenges of community and voluntary sector involvement at a strategic level. During the reporting period HVA was a member of the East Sussex Strategic Partnership bringing together senior leaders from the business community, public sector and voluntary sector. 

HVA delivered a variety of projects and campaigns linked to a diverse range of areas including Refugees and Asylum Seekers, Community Cohesion, Mental Wellbeing and Physical Health. The Charity also acted as the Locally Trusted Organisation supporting a programme of community involvement and decision making in North East Hastings, one of the most deprived parts of the Borough. HVA supported the continuing development of the Education Futures Trust by acting as a Trustee and has helped support its service for children, schools and families. 

HVA worked in partnership with other local organisations to deliver a £7.2m investment to the area by having Hastings and Bexhill Declared by the EU as a Community Led Local Development Area. HVA continue to act as part of its local action group on the administration of this economic programme. 

During the year HVA worked alongside other partners to seek Town Deal status for Hastings which subsequently resulted in a proposed investment to the Borough of £26.2 million. 

HVA continued to provide affordable high-quality accommodation to other not-for-profit organisations including those working with carers, children, people with learning disabilities, people with mental health issues, people with physical disabilities, and older people. 

## **Public benefit** 

The requirements for reporting public benefit in an annual report are that the report will contain; i) a report of those activities undertaken by a charity to further its charitable activities for the public benefit, and ii) a statement by the charity trustees that they have due regard to public benefit guidance published by the Charity Commission. 

The guidance sets out two key principles which need to be met in order to show that an organisation's aims are for the public benefit; i) there must be an identifiable benefit or benefits, i.e. the "benefit" principle, and ii) the benefit must be to the public or a section of the public, the "public" principle. 

The trustees refer to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing the aims and objectives of, and in planning, activities. The trustees endorse these key principles of public benefit, and reflect them into aims and objectives of the activities they have set. HVA typically delivers on these objectives through delivering on the National Association for Voluntary and Community Action (NAVCA) standards. Our services are monitored and reviewed quarterly to ensure service delivery meets aims and objectives. 

Through the activities detailed in this report, and in other literature and newspaper articles, on HVA's website and through social media, the trustees show that the activities undertaken by HVA to further its charitable activities are, and are duly reported as being, for the public benefit. 

## **STRATEGIC REPORT Financial review** 

## **Financial position** 

The statement of Financial Activities shows an overall deficit for the year of £10,171 (2020: deficit £135,395). Reserves at 31 March 2021 were £233,928 of which £111,156 were Restricted Funds and £10,000 were Designated Funds. The general fund reserves stand at £112,772 (2020: £109,023). The general fund balance is held as a contingency in the event of the core funding being withdrawn and is held to cover the likely costs arising therefrom. 

The principal funding of the charity continues to be by way of grants received from various statutory bodies, as detailed elsewhere in this report. 

## **RESERVES POLICY** 

Hastings Voluntary Action has a Reserves Policy which addressed issues relating to its obligations to the upkeep of its assets, supporting existing projects for fixed periods until funding is secured, meeting the cost of redundancy of staff should the occasion arise and a general reserve for the cover of management and administrative costs in unforseen circumstances or in the event of a winding up of the organisation. 

The statement of financial activities reflects the level of reserves as at 31st March 2021. 

Page 3 



## **HASTINGS VOLUNTARY ACTION** 

## **TRUSTEES' REPORT** 

## **FOR THE YEAR ENDED 31 MARCH 2021** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Recruitment and appointment of new trustees** 

Hastings Voluntary Action is a member organisation and its Trustees are elected from a vote of all registered member organisations in attendance at its Annual General Meeting. HVA is proud to be a "user-led" organisation in that over 50% (in fact all) of its trustees are elected from its beneficiary group. The management of the charity is the responsibility of the trustees who are elected under the terms of the trust deed. The trustees may appoint a person who is willing to act as a trustee, either to fill a vacancy or to act as an additional trustee, provided that the appointment does not cause the number of trustees to exceed the maximum number. Generally, only persons who are representatives of member organisations of Hastings Voluntary Action are eligible to become trustees, but the Management Board may at any time co-opt other persons, whether or not representing a member organisation, provided that such co-opted members shall never comprise more than one-third of the Management Board. None of the charity's trustees receive any remuneration. 

## **Organisational structure** 

The Board of Trustees meets on a quarterly basis. Agendas are approved by the Chair of the Board and paper and report are issued to trustees prior to the meeting where possible. Decisions made by the trustees provide strategic direction, with some authority delegated to the Director and other staff members. An Officers group consisting of the Chair, Vice Chair and Treasurer also meet to consider any matters arising from board meetings. Task and finish groups are also delegated certain tasks relating to HR. All Trustees and staff attend a strategic planing session each year 

## **Risk management** 

The Trustees of Hastings Voluntary Action recognise their obligations to identify, manage and mitigate all strategic, operational and technical risks facing the organisation. HVA recognise the need to have a planned and systematic approach to risk. Therefore, a comprehensive risk register has been created, and a "lead" risk trustee appointed to ensure that this is regularly considered by Trustees at each meeting. Arrangements for Health & Safety monitoring and risk management are in place and have recently been externally audited. 

## **Induction and training of new trustees** 

Induction processes are in place for new trustees which consist of briefing and induction materials. We have recently refreshed a Trustee skills audit which continues to inform our plans for further training and development. Occassional skills audits are utilised to inform development needs and highlight gaps. 

## **Staff & Volunteers** 

During the reporting period the Charity has employed an average of 15 staff across the year and 3 volunteers have regularly supported HVA's main services. Additional capacity has been deployed in the form of freelance "associates" who have undertaken specific work on designated projects. 

## **Partnership** 

HVA prides itself on working in partnership, and is in a strong position to bring different organisations together to work towards shared aims. HVA works closely with Rother Voluntary Action and 3VA (the other VCS infrastructure organisations in East Sussex) on various projects. Additionally, HVA has an organisational objective to attract inward investment to the Borough and will actively form consortia or partnership arrangements between local organisations to achieve this. With this in mind, the Director of HVA and other staff attend local and county meetings to develop and extend partnership work. During the reporting period the Director of HVA acted as a member of the East Sussex Strategic Partnership bringing together the County, District and Borough Councils, NHS, Sussex Police, Fire and Rescue Service, Local Enterprise Partnership and Voluntary Sector leaders. 

To support the broadest possible partnership activity HVA facilitates the Hastings Community Network which brings together VCS organisations. Quarterly sector-wide events are organised to do this in an open and inclusive way. 

Trustees' report, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on .................................... and signed on the board's behalf by: 

............................................ M P Cornish - Trustee 

Page 4 



## **HASTINGS VOLUNTARY ACTION** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITES** 

## **FOR THE YEAR ENDED 31 MARCH 2021** 

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standards 102 "The Reporting Standard applicable in the UK and Republic of Ireland". 

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are prudent; 

- prepare the financial statements on the going concen basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial posisiton of the charity and to enable them to ensure that the financial statements comply with the Charties Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Page 5 



## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HASTINGS VOLUNTARY ACTION** 

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021, which are set out on pages seven to eighteen. 

_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 report_ 

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

- accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or the accounts do not accord with those accounting records; or 

- the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or 

- the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Mr S R Sampson FCA FCIE DChA Ashdown Hurrey Auditors Limited Statutory Auditors 20 Havelock Road Hastings East Sussex TN34 1BP 

Date: ................................................... 

Page 6 



## **HASTINGS VOLUNTARY ACTION** 

## **STATEMENT OF FINANCIAL ACTIVITIES Including Income and Expenditure Account FOR THE YEAR ENDED 31 MARCH 2021** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>3<br>**Charitable activities**<br>4<br>Operation of charitable services<br>**Total**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>5<br>Operation of charitable services<br>Other<br>6<br>**Total**<br>**NET INCOME**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted Funds<br>102,597<br>202,223<br>304,820<br>288,847<br>12,224<br>301,071<br>3,749<br>119,023<br>122,772|Restricted<br>Funds<br>398,477<br>-|31.3.21<br>31.3.20<br>Total Funds<br>Total Funds<br>501,074<br>540,367<br>202,223<br>177,308<br>703,297<br>717,675<br>701,244<br>837,337<br>12,224<br>15,733<br>713,468<br>853,070<br>(10,171)<br>(135,395)<br>244,099<br>379,494<br>233,928<br>244,099|
|---|---|---|---|
|||398,477<br>412,397<br>-||
|||412,397<br>(13,920)<br>125,076<br>111,156||



## **CONTINUING OPERATIONS** 

All income and expenditure has arisen from continuing activities. 

These notes form part of these financial statements 

Page 7 



## **HASTINGS VOLUNTARY ACTION** 

## **REGISTERED COMPANY NUMBER: 2409902 (England & Wales) REGISTERED CHARITY NUMBER: 802632** 

## **BALANCE SHEET** 

## **AT 31 MARCH 2021** 

|Notes<br>**CURRENT ASSETS**<br>Debtors<br>10<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>11<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**PROVISIONS**<br>Provision for pension deficit<br>15<br>**NET ASSETS**<br>**FUNDS**<br>Unrestricted funds:<br>14<br>General fund<br>Designated funds: Lease and maintenance<br>Restricted funds<br>14<br>Pension Fund Deficit<br>15<br>**TOTAL FUNDS**|31.3.21<br>£<br>59,779<br>192,891<br>252,670<br>(18,742)<br>233,928<br>233,928<br>(26,593)<br>207,335<br>112,772<br>10,000<br>111,156<br>233,928<br>(26,593)<br>207,335|31.3.20<br>£<br>49,355<br>229,480|
|---|---|---|
|||278,835<br>(34,736)|
|||244,099|
|||244,099|
|||(31,509)<br>212,590|
|||109,023<br>10,000<br>125,076|
|||244,099<br>(31,509)|
|||212,590|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021. 

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibilities for 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

These financial statements were approved by the Board of Trustees on ……………………………………….. and were signed on its behalf by: 

…………………………………………….. …………………………………………….. 

M P Cornish - Trustee G Goode - Trustee 

The notes form part of these financial statements 

Page 8 



HASTINGS VOLUNTARY ACTION 

## **Table 1: Statement of Cash Flows** 

|**Table 1: Statement of Cash Flows**||||
|---|---|---|---|
||Total|funds||
||Current year to|||
||31.3.21|Previous year|Note|
|Cash flows from operating activities:||||
|Net cash provided by (used in) operating activities|(36,672)|(57,073)|(Table 2)|
|Cash flows from investing activities:||||
|Bank interest|83|817||
|Net cash provided by (used in) investing activities||||
|Cash flows from financing activities:|-|-||
|Change in cash and cash equivalents in the reporting period||||
|Cash and cash equivalents at the beginning of the reporting period|229,480|285,736|(Table 3)|
|Change in cash and cash equivalents due to exchange rate||||
|movements|-|-||
|Cash and cash equivalents at the end of the reporting period|192,891|229,480|(Table 3)|
|**Table 2: Reconciliation of net income/(expenditure) to net cash flow from operating activities**||||
||Current year|||
||to 31.3.21|Previous year||
|Net income/(expenditure) for the reporting period (as per the||||
|statement of financial activities)|(10,171)|(135,395)||
|Adjustments for:||||
|Depreciation charges|-|-||
|(Gains)/losses on investments|-|-||
|Dividends, interest and rents from investments|(83)|(817)||
|Loss/(profit) on the sale of fixed assets|-|-||
|(Increase)/decrease in stocks|-|-||
|(Increase)/decrease in debtors|(10,424)|47,803||
|Increase/(decrease) in creditors|(15,994)|31,336||
|Net cash provided by (used in) operation activities|(36,672)|(57,073)||
|**Table 3: Analysis of cash and cash equivalents**||||
||Current year to|||
||31.3.21|Previous year||
|Cash in hand|122,068|128,725||
|Notice deposits (less than 3 months)|70,823|100,755||
|Overdraft facility repayable on demand|-|-||
|Total cash and equivalents|192,891|229,480||



The notes form part of these financial statements 

Page 9 



HASTINGS VOLUNTARY ACTION 

## NOTES TO THE FINANCIAL STATEMENTS 

FOR THE YEAR ENDED 31 MARCH 2021 

## 1 **STATUTORY INFORMATION** 

Hastings Voluntary Action is an incorporated charity, limited by guarantee, registered in England & Wales. The charity's registered number and registered office address can be found in the Report of the Trustees. 

## 2 **ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, which is a public benefit entity under FRS 102,  have been prepared in accordance with the Charities SORP (FRS 102)'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. 

## **Going Concern** 

In preparing the financial statements, the trustees are required to make an assessment of the ability of the charity to continue as a going concern. The trustees have prepared a cash flow forecast and budgets for the charity and against the backdrop of the COVID-19 Pandemic a "reverse-stress" test has been applied to the forecasts, seeking to establish the level of liquidity headroom the charity is expected to have during the 12 month going concern period. 

On the basis of these forecasts and the fact that the charity has substantial net current assets, the trustees are confident that the charity has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. As a result of the above, the trustees have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Allocation and apportionment of costs** 

## **Taxation** 

The charity is exempt from corporation tax on its charitable activities. 

## **Fund accounting** 

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Pension costs and other post-retirement benefits** 

The charitable company currently operates defined contribution pension schemes with NEST and the Pensions Trust Co.. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. 

The charity has previously operated a money purchase scheme, adminstered by the Pensions Trust Co. This scheme is now closed and was a multi-employer Growth Plan defined benefit pension scheme. 

Page 10 



## HASTINGS VOLUNTARY ACTION 

## NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2021 

|3<br>**DONATIONS AND LEGACIES**<br>Grants<br>4<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Rent and management fees<br>Investment income<br>5<br>**CHARITABLE ACTIVITIES COSTS**<br>Operation of charitable services<br>6<br>**SUPPORT COSTS**<br>Other resources expended<br>Operation of charitable services<br>Support costs, included in the above, are a<br>**Governance costs**<br>Management & admin sals<br>Pensions<br>AGM/Annual conference<br>Independent examiner's fee|s follows:<br>Other<br>resources<br>expended<br>£<br>7,936<br>1,288<br>0<br>3,000<br>12,224|31.3.21<br>31.3.20<br>£<br>£<br>501,074<br>540,367<br>31.3.21<br>31.3.20<br>Total<br>activities<br>£<br>£<br>202,140<br>176,491<br>83<br>817<br>202,223<br>177,308<br>Direct costs<br>Totals<br>£<br>£<br>£<br>701,244<br>12,224<br>713,468<br>£<br>12,224<br>-<br>12,224<br>31.3.21<br>31.3.20<br>Operation of<br>charitable<br>services<br>£<br>£<br>-<br>7,936<br>7,936<br>-<br>1,288<br>1,288<br>-<br>0<br>3,509<br>-<br>3,000<br>3,000<br>-<br>12,224<br>15,733<br>Operation of<br>charitable<br>activities<br>Support costs<br>(See note 6)<br>Governance costs|31.3.20<br>£<br>540,367|
|---|---|---|---|
||||31.3.20<br>Total<br>activities<br>£<br>176,491<br>817|
||||177,308|
||||Totals<br>£<br>713,468|
||||12,224|
||||31.3.20<br>£<br>7,936<br>1,288<br>3,509<br>3,000|
||||15,733|



Page 11 



## HASTINGS VOLUNTARY ACTION 

## NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2021 

|7<br>**NET INCOME/ (EXPENDITURE)**<br>Net income/(expenditure) is stated after charging/(crediting):<br>Independent Examiner's remuneration|31.3.21<br>£<br>3,000|31.3.20<br>£<br>3,000|
|---|---|---|



8 **TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020. 

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020. 

## 9 **STAFF COSTS** 

|**STAFF COSTS**|||
|---|---|---|
|Wages and salaries<br>Social security<br>Employer's contribution to defined contribution pension schemes<br>Other pension costs<br>The average monthly number of employees during the year was as follows:<br>Hastings Voluntary Action Employees<br>Key management personnel<br>Total employee benefits for key management personnel|31.3.21<br>£<br>219,475<br>16,622<br>10,742<br>1,288<br>248,127<br>31.3.21<br>15<br>31.3.21<br>£<br>48,202|31.3.20<br>£<br>189,368<br>16,566<br>11,131<br>1,288|
|||218,353|
|||31.3.20<br>15|
|||31.3.20<br>£<br>46,718|



No employees received emoluments in excess of £60,000. 

Page 12 



HASTINGS VOLUNTARY ACTION REGISTERED COMPANY NUMBER: 2409902 REGISTERED CHARITY NUMBER: 802632 

## NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2021 

|10<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade debtors<br>Prepayments<br>11<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Projects in deficit (see note 14)<br>Trade creditors<br>Accrued expenses<br>12<br>OPERATING LEASE COMMITMENTS:<br>Minimum lease payments under non-cancellable operating leases fall due a<br>Within 1 year<br>Later than 1 year and not later than five years<br>Later than five years<br>13<br>**ANALYSIS OF NET ASSETS BETWEEN FUNDS**<br>Unrestricted<br>Funds<br>Restricted<br>funds<br>£<br>£<br>Current assets<br>128,360<br>124,310<br>Current liabilities<br>(5,588)<br>(13,154)<br>122,772<br>111,156|31.3.21<br>£<br>55,987<br>3,792<br>59,779<br>31.3.21<br>£<br>13,154<br>2,588<br>3,000<br>18,742<br>s follows;<br>2021<br>£<br>1,691<br>6,343<br>-<br>31.3.21<br>Total funds<br>£<br>252,670<br>(18,742)<br>233,928|31.3.20<br>£<br>45,563<br>3,792|
|---|---|---|
|||49,355|
|||31.3.20<br>£<br>24,464<br>7,272<br>3,000|
|||34,736|
|||31.3.20<br>Total funds<br>£<br>278,835<br>(34,736)|
|||244,099|



Page 13 



## **HASTINGS VOLUNTARY ACTION** 

## **NOTES TO THE FINANCIAL STATEMENT (continued) FOR THE YEAR ENDED 31 MARCH 2021** 

|**14**<br>**MOVEMENT IN FUNDS**<br>At 1.4.20<br>**Unrestricted funds**<br>General fund<br>109,023<br>Designated fund<br>10,000<br>119,023<br>**Restricted funds**<br>Big Local Trust<br>(5,200)<br>Centre for Ageing Better/DCMS<br>9,462<br>Connect Fund (Barrow Cadbury Trust)<br>(7,635)<br>Hate Crime/Crime Reduction Activities<br>16,031<br>HCN Events 2019<br>(3,216)<br>Links/New Beginnings<br>11,601<br>Making It Happen<br>(238)<br>Held on behalf of Arts on Prescription<br>-<br>Held on behalf of BAME Engagement<br>-<br>Held on behalf of Big Local Community Centres<br>5,785<br>Held on behalf of Census Project<br>-<br>Held on behalf of C4C<br>6,996<br>Held on behalf of Community Hub<br>-<br>Held on behalf of DAA<br>1,659<br>Held on behalf of DEFRA Food Project<br>-<br>Held on behalf of Fit Revolution<br>-<br>Held on behalf of Food Network<br>-<br>Held on behalf of FOTOP<br>5,903<br>Held on behalf of FrockupFriday<br>-<br>Held on behalf of Gensing & CSL Forum<br>5,786<br>Held on behalf of Hastings Comm Transport<br>-<br>Held on behalf of Hastings Greenway Trust<br>-<br>Held on behalf of Hastings Relief Fund<br>-<br>Held on behalf of Hastings Young Ambassors Fun<br>300<br>Held on behalf of Heroes of Hastings<br>214<br>Held on behalf of Horizons<br>51,458<br>Held on behalf of IBC in Perpetuity<br>-<br>Held on behalf of Ore Community Assoc<br>(8,175)<br>Held on behalf of SCUF<br>21,260<br>Held on behalf of Strategic Youth P.ship<br>1,500<br>Held on behalf of The 99/100 Group<br>8,840<br>Held on behalf of St Leonards Town Team<br>2,325<br>Held on behalf of Wellbeing Hub - EFT<br>212<br>Held on behalf of West Marina RA<br>208<br>Held on behalf of WORC Project<br>-<br>125,076<br>**TOTAL FUNDS**<br>244,099|**14**<br>**MOVEMENT IN FUNDS**<br>At 1.4.20<br>**Unrestricted funds**<br>General fund<br>109,023<br>Designated fund<br>10,000<br>119,023<br>**Restricted funds**<br>Big Local Trust<br>(5,200)<br>Centre for Ageing Better/DCMS<br>9,462<br>Connect Fund (Barrow Cadbury Trust)<br>(7,635)<br>Hate Crime/Crime Reduction Activities<br>16,031<br>HCN Events 2019<br>(3,216)<br>Links/New Beginnings<br>11,601<br>Making It Happen<br>(238)<br>Held on behalf of Arts on Prescription<br>-<br>Held on behalf of BAME Engagement<br>-<br>Held on behalf of Big Local Community Centres<br>5,785<br>Held on behalf of Census Project<br>-<br>Held on behalf of C4C<br>6,996<br>Held on behalf of Community Hub<br>-<br>Held on behalf of DAA<br>1,659<br>Held on behalf of DEFRA Food Project<br>-<br>Held on behalf of Fit Revolution<br>-<br>Held on behalf of Food Network<br>-<br>Held on behalf of FOTOP<br>5,903<br>Held on behalf of FrockupFriday<br>-<br>Held on behalf of Gensing & CSL Forum<br>5,786<br>Held on behalf of Hastings Comm Transport<br>-<br>Held on behalf of Hastings Greenway Trust<br>-<br>Held on behalf of Hastings Relief Fund<br>-<br>Held on behalf of Hastings Young Ambassors Fun<br>300<br>Held on behalf of Heroes of Hastings<br>214<br>Held on behalf of Horizons<br>51,458<br>Held on behalf of IBC in Perpetuity<br>-<br>Held on behalf of Ore Community Assoc<br>(8,175)<br>Held on behalf of SCUF<br>21,260<br>Held on behalf of Strategic Youth P.ship<br>1,500<br>Held on behalf of The 99/100 Group<br>8,840<br>Held on behalf of St Leonards Town Team<br>2,325<br>Held on behalf of Wellbeing Hub - EFT<br>212<br>Held on behalf of West Marina RA<br>208<br>Held on behalf of WORC Project<br>-<br>125,076<br>**TOTAL FUNDS**<br>244,099|Incoming<br>resources<br>304,820<br>-<br>304,820<br>113,465<br>1,775<br>7,650<br>10,000<br>3,216<br>32,124<br>49,525<br>9,940<br>10,800<br>3,280<br>3,360<br>12,000<br>181<br>15,052<br>500<br>31,200<br>1,907<br>1,000<br>2,760<br>500<br>13,863<br>8,900<br>-<br>45,000<br>14,175<br>1,490<br>1,886<br>2,928<br>398,477<br>703,297|Resources<br>expended<br>(301,071)<br>-<br>(301,071)<br>(77,075)<br>(11,237)<br>(15)<br>(20,920)<br>(29,329)<br>(50,053)<br>(9,940)<br>(384)<br>(3,280)<br>(4,483)<br>(10,000)<br>(455)<br>(15,052)<br>(500)<br>(14,618)<br>(20,198)<br>(1,000)<br>(2,760)<br>(500)<br>(11,564)<br>(9,200)<br>(51,458)<br>(45,000)<br>(6,000)<br>(1,780)<br>(10,330)<br>(2,913)<br>(2,353)<br>(412,397)<br>(713,468)|At 31.3.21<br>112,772<br>10,000|
|---|---|---|---|---|
|||||122,772<br>31,190<br>-<br>-<br>5,111<br>-<br>14,396<br>(766)<br>-<br>-<br>10,416<br>5,785<br>-<br>5,873<br>2,000<br>1,385<br>-<br>-<br>16,582<br>(12,388)<br>-<br>5,786<br>-<br>-<br>2,299<br>-<br>214<br>-<br>-<br>-<br>19,480<br>1,500<br>-<br>1,298<br>212<br>208<br>575|
||125,076<br>244,099|||111,156|
|||||233,928|



Note - Restricted funds relate either to 

- grant funded projects managed by HVA, or 

- funds held on behalf of external organisations who, for whatever reason, do not have the ability or capacity to fully manage their own finances. In such cases, HVA provides support to the organisation and accountability to funders in an open and transparent manner in which all parties fully understand and accept HVA's role in the process. 

Page 14 



## **HASTINGS VOLUNTARY ACTION** 

## **NOTES TO THE FINANCIAL STATEMENT (continued) FOR THE YEAR ENDED 31 MARCH 2021** 

## 15 PROVISION FOR LIABILITIES 

Provision for pension liability Scheme: TPT Retirement Solutions - The Growth Plan 

Background (The National Picture) 

The charity participates in the scheme, a multi-employer scheme which provides benefits to some 950 nonassociated particpating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the charity to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme. 

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK. 

The scheme is classified as a 'last-man standing arrangement'. Therefore the charity is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Particpating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. 

A full actuarial valuation for the scheme was carried out on 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows; 

## Deficit contributions 

From 1 April 2019 £11,243,000 per annum (payable monthly and increasing to 31 January 2025 by 3% each on 1st April) 

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies. 

Note that the scheme's previous valuation was carried our with an effective date of 30 September 2014. This valuation showed assets of £793.4m, liabilities of £969.9m and a deficit of £176.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows; 

From 1 April 2016 £12,945,440 per annum (payable monthly and increasing to 30 September 2025 by 3% each on 1st April) From 1 April 2016 £54,560 per annum (payable monthly and increasing to 30 September 2028 by 3% each on 1st April) 

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities. 

Where the scheme is in deficit and where the charity has agreed to a deficit funding arrangement the charity recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relate to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. 

Page 15 



## **HASTINGS VOLUNTARY ACTION** 

## **NOTES TO THE FINANCIAL STATEMENT (continued) FOR THE YEAR ENDED 31 MARCH 2021** 

## 15 PRESENT VALUES OF PROVISION 

|Impact on Hastings Voluntary Action|31.3.21|31.3.20|31.3.19|
|---|---|---|---|
||£|£|£|
|Present value of provision|26,593|31,509|38,223|
|RECONCILIATION OF OPENING AND CLOSING PROVISIONS||Period ending|Period ending|
|||31.3.21|31.3.20|
|||£|£|
|Provision at the start of the period||31,509|38,223|
|Unwinding of the discount factor||709|484|
|Deficit contributions paid||(6,534)|(6,343)|
|Remeasurements- impact of any change in assumptions||909|(855)|
|Remeasurements- amendments to the contribution schedule||-|-|
|Provision at end of period||26,593|31,509|
|INCOME AND EXPENDITURE IMPACT||||
|||Period ending|Period ending|
|||31.3.21|31.3.20|
|Interest expense||709|484|
|Remeasurements - impact of any change in assumptions||909|(855)|
|Remeasurements - amendments to the contributions schedule||-|-|
|Contributions paid in respect of future service*||6,216|6,356|
|Costs recognised in income and expenditure account||12,750|12,699|
|*includes defined contribution schemes and future service contributions (i.e.||excluding any deficit|reduction payments) to|
|defined benefit schemes which are treated as defined contribution schemes.||||



## ASSUMPTIONS 

||31.3.21|31.3.20|31.3.19|
|---|---|---|---|
||% per annum|% per annum|% per annum|
|Rate of discount|0.66|2.53|1.39|



The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery contributions. 

Page 16 



**HASTINGS VOLUNTARY ACTION** 

## **NOTES TO THE FINANCIAL STATEMENT (continued) FOR THE YEAR ENDED 31 MARCH 2021** 

## 15 DEFICIT CONTRIBUTIONS SCHEDULE 

The following schedule details the deficit contributions agreed between the charity and the scheme at each year end period: 

|Year|ending|31.3.21|31.3.20|31.3.19|
|---|---|---|---|---|
|||£|£|£|
|Year|1|6,730|6,534|6,343|
|Year|2|6,931|6,730|6,534|
|Year|3|7,139|6,931|6,730|
|Year|4|6,128|7,139|6,931|
|Year|5|-|6,128|7,139|
|Year|6|-|-|6,128|
|Year|7|-|-|-|
|Year|8|-|-|-|



The company must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account, i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.    It is these contributions that have been used to derive the charity's balance sheet liability. 

## 16 RELATED PARTY DISCLOSURES 

There were no related party transactions for the year ended 31 March 2021. 

Page 17 



## **HASTINGS VOLUNTARY ACTION** 

## **COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2020** 

|Notes<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>**Charitable activities**<br>Operation of charitable services<br>**Total**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Operation of charitable services<br>Other<br>**Total**<br>**NET INCOME**<br>**RECONCILIATION OF FUNDS**<br>**Total funds brought forward**<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted Funds<br>100,285<br>177,308<br>277,593<br>258,241<br>15,733<br>273,974<br>3,619<br>115,404<br>119,023|Restricted<br>Funds<br>440,082<br>-<br>440,082<br>579,096<br>-<br>579,096<br>(139,014)<br>264,090<br>125,076|31.3.20<br>31.3.19<br>Total Funds<br>Total Funds<br>540,367<br>779,721<br>177,308<br>193,430<br>717,675<br>973,151<br>837,337<br>955,613<br>15,733<br>15,535<br>853,070<br>971,148<br>(135,395)<br>2,003<br>379,494<br>377,491<br>244,099<br>379,494|
|---|---|---|---|



Page 18 



## **HASTINGS VOLUNTARY ACTION** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Grants<br>**Charitable activities**<br>Rent and management fees<br>Investment income<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Charitable activities**<br>Wages<br>Establishment costs<br>Staff travel and training<br>Volunteer expenses<br>Office running costs<br>Project costs<br>**Support costs**<br>**Governance costs**<br>Management & admin salaries<br>Pensions<br>Independent examiner's fee<br>AGM/Annual conference<br>**Total resources expended**<br>**Net Income**|31.3.21<br>£<br>501,074<br>202,140<br>83<br>202,223<br>703,297<br>238,903<br>25,086<br>120<br>9<br>24,729<br>412,397<br>701,244<br>7,936<br>1,288<br>3,000<br>0<br>12,224<br>713,468<br>(10,171)|31.3.20<br>£<br>540,367<br>176,491<br>817|
|---|---|---|
|||177,308|
|||717,675<br>209,129<br>24,796<br>2,198<br>180<br>21,938<br>579,096|
|||837,337<br>7,936<br>1,288<br>3,000<br>3,509|
|||15,733|
|||853,070|
|||(135,395)|



This page does not form part of the statutory financial statements 

Page 19