NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK ## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022 Registered Charity No. SC040005 NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK 1 ## TRUSTEES REPORT ## YEAR ENDED 31ST MARCH 2022 The Trustees present their report and financial statements for the North West Glasgow Voluntary Sector Network for the year ended 31st March 2022. ## REFERENCE AND ADMINISTRATION INFORMATION: The North West Glasgow Voluntary Sector Network is an unincorporated association which was formed in April 2007. The network gained charitable status on 3rd November 2008. Prior to July 2017 to the Network was known as the West and Central Area Voluntary Network and served a smaller area of the city. ## CHARITY REGISTRATION NO. SC040005 PRINCIPAL OFFICE 10 KELSO PLACE GLASGOW G14 OLL ## INDEPENDENT EXAMINER ALEXANDER SLOAN ACCOUNTANTS AND BUSINESS ADVISERS 180 ST VINCENT STREET GLASGOW G2 5SG ## BANKERS BANK OF SCOTLAND PLC 836 CROW ROAD GLASGOW G13 1ET ## SOLICITORS BURNESS PAULL 120 BOTHWELL STREET GLASGOW G2 7JL NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK 2 ## TRUSTEES REPORT (Cont.d) YEAR ENDED 31ST MARCH 2022 ## TRUSTEES The Trustees who served during the year were as follows: (Chairperson) (Appointed 08/12/21) (Vice Chairperson) (Secretary) (Appointed 08/12/21) (Resigned 15/05/22) (Resigned 08/12/21) (Resigned 08/12/21) (Resigned 08/12/21) (Resigned 31/08/22) (Appointed 08/12/21) (Appointed 08/12/21) ## STRUCTURE GOVERNANCE AND MANAGEMENT ## Governing Document The Charity is governed by its Constitution. It is the intention of the Trustees that the assets and liabilities of the Charity will be transferred to the North West Glasgow Voluntary Sector Network SCIO , SC049815. As of the date of signing of the accounts this transfer has not yet taken place. ## Appointment of Trustees As set out in the Constitution, Trustees are appointed from the member organisations, with the Trustees able to co-opt up to four additional Trustees who need not be members of the network. ## Trustee Induction and Training New Trustees undergo an orientation day to brief them on their legal obligations under charity law. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. ## Organisational Structure The Trustees administer the charity. The Trustees meet regularly and delegate responsibilities to the Project Co-ordinator who is appointed by the Trustees to manage the day to day operations of the charity. To facilitate effective operations, the Project Co-ordinator has delegated authority for operational matters including service provision, finance and administration. ## Risk Management The Trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The Trustees have agreed clear lines of delegation and authority to the Project Co-ordinator and delegated authority for operational matters including service provision, finance and administration. ## Key Management Personnel The Trustees consider the key management personnel of the Charity to be the Trustees and the Project Co-ordinator and two part time Development Workers who are employed by the North West Glasgow Voluntary Sector Network. NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK 3 ## TRUSTEES REPORT (Cont.d) YEAR ENDED 31ST MARCH 2022 ## OBJECTIVES AND ACTIVITIES ## Charitable Objectives The charity's objectives are to promote the role of the voluntary sector by influencing and forming public policy, by supporting member organisations with appropriate services, by consultation and partnership with appropriate agencies and by creating a positive business and enterprise environment. The charity will work to disseminate best practice, to develop and expand the role of the voluntary sector generally and to increase the professionalism and quality of delivery by North West Glasgow Voluntary Sector Providers. ## Strategy and Future Plans The charity's strategy is to develop and strengthen relationships within the voluntary sector and promote best practice to ensure continued support for the member organisations. ## ACHIEVEMENTS AND PERFORMANCE ## Financial Review The results for the year show the direct expenditure on charitable activities at £119,841 (2021 £113,836) The network made a surplus of £4,022 (2021 £18,338) in the year giving reserves of £24,816 as at 31st March 2022 (2021 £20,794) ## Principal Funding Sources The principal funding source was contributions from Integrated Grant Funding and Glasgow Communities Fund. ## Reserves Policy The reserves are categorised as unrestricted, where the reserves are available to be applied by the Trustees in furtherance of the charity's charitable objectives and restricted which represents the grants received through the integrated grant fund, Glasgow Communities Fund,Glasgow City Council Area Partnership and Scottish Government which have to be applied in accordance with the funder's requirements. The policy of the charity is to have unrestricted reserves equivalent to three months running costs. Current reserves are considerably lower than this and the Trustees are working to achieve this target. Unrestricted reserves as at 31st March 2022 were £4,089 (31st March 2021 £969) restricted reserves were £20,727 as at 31st March 2022 (31st March 2021 £19,825). ## Review of the year ## COVID continued to affect the 3[rd ] sector. Spring 2021 saw the network and the membership tentatively begin to meet in person in small groups, following COVID guidance. Some were able to offer in person services again for the people they serve, this took a lot of planning and for some considerable cost, as members had to make sure their premises were COVID safe. Delivery also had to change with social distancing and limits to capacity meant stress and more work for services as they worked out how to deliver the same services with the restrictions. The network continued with virtual meetings as large gatherings were still not permitted, we were heartened to see that attendance at our virtual meetings continued to be good, with members stating that they still felt it was a place to not only get the latest information, make connections but also get support, as the physical and emotional effects of COVID continued to take its toll. We looked at Christmas 2021 with hope that we could meet with extended family and have a more ‘normal’ festive period, however a spike in COVID cases meant that restrictions were tightened again, and sadly many members had to cancel festive celebrations for the people they serve which was disappointing. The psychological toll on services cannot be underestimated, responding to crisis continued to offer groceries, toiletries as well as psychological support put a strain on our members. The network offered support where we could being on the end of the phone, hosting virtual meetings and facilitating working groups to bring members together to identify issues to common problems. ## IT recycling project The IT recycling project continued to receive a constant stream of referrals, and as the project came into its 1[st ] full year we learned to take donations and refurbish them ourselves. This meant we became less reliant on donations and could offer more equipment to local people in need. We also secured other funding with the Scottish Government & Glasgow City Council to offer free internet along with the IT equipment. NORTH WEST GLASGOW VOLuKfARY SECTOR NETWORK TRUSTEES REPORT (Crnt.d) YEAR ENDED 31ST MARCH 2022 ReNiew of the year (Cont.d) Members becau￿ coThcerned alx)ut continued closure of librnTAes and Con]n￿ty celltres. these ￿ere ijlltially closed due to cO￿￿D but Glas80Th' City Coullcil used this oN)or￿ty to ao initiaii%'e ￿there they ￿'e￿ seekill8 applicgtions froni 3 secior & conw)ut)iry Brow)$ to nui Cow￿11 ouyied Nalues. The neN'ork quickly broughi logeth￿ a ￿'01*inB Bfol o siartiDg lobbying the couThcil and aSk￿g to be jllioh.ed ￿ iDai]aKiDg the pmcess. New &)ard Members We Also said goodbye to some long sernin8 board membets tl1eirkn0￿led$e and expertise will be missed. We also welcomed 4 ne￿ one5, M'ho bnllg a fresh per5pectJi'e and a ￿'ealth of expenellc¢. FiiNre Plans As u'orking PlaCli¢es 80 baek ￿ norn)xl. the neN.0￿ ￿till rettknth to the office time. 2022. Is a year where we ixeed io re apply for fill￿￿18. ￿'e M'ill be ￿Ork￿8 i)ur members to D]Dke Sure our aN)lication reflects they ￿'Z￿t fron) Ihe neh4'oTk. We ha￿e au learned $0 wuch fTOW COVtD. 4tK*Ut ¢Bn all Con￿ tO8ether ho￿ c8n 8ckn.e￿¢. We w'dl o]$0 continue io de￿.elOP tlie advocy &speci of the tseN'ork. ￿￿kill8 swe menjbers Troices are heard in decision nthkiiig sini¢nires. We will alw wotk ￿Wa￿lS hai'in8 a prLVOrtic*) of our tixeetirt8S irt pelson. offetitis opporti￿ltieS for our to netwo￿ 21/12/2022 This report was opproved by the Trnstee5 on the ........................................ and si8ned on its beFAalf by Vice Cliairpersoij 5 NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK ## YEAR ENDED 31ST MARCH 2022 ## STATEMENT OF TRUSTEES' RESPONSIBILITIES 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). The law applicable to charities in Scotland , the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 ( as amended) and the provisions of the charity's Memorandum and Articles requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, The Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's Memorandum and Articles. 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. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. TO THE TRUSTEES OF NORTH WEST GL￿sc￿*w VOLUNfARY SECTOR NETWORK I report on the f]ttaneiaJ statements of the clwity for the year ended 31 March 2022. are set out on pages 7 to 13. Respective respon￿bIlItieS of Trustees The ehArity's Trustees are responsible for the preparation of the St*￿￿ts in a¢cordance with the terws of the iarities and Tnjsiee In￿estMent (Seotl*id) Aci ?(K15 the Clwities Accounis (Scoijand) Re8u]aiions l(K>6. The charity's Trustee5 COllsiikT that the alldj't requi￿￿1 of RegulatioD 10(I)(a) to (c) of the 2(K)6 Accouut5 Regulations doe5 ot apply. It Is niy re5p)nsibiknty to exatJ]Jne the fjnaacial statements Ttyujr￿ under sectiOD 44IIKc) of tlLe Act and to state H'hether particul￿ ￿￿tterS lJAs"e to atte￿110 B84515 of independent exall]￿eT'S 5tatemellt My 15 camed out ￿ occordauce Regulation I l of the 2(M)6 Accoullt5 Rewdati(XLS. kn Jncludes reTrieTr4 of the accounting records kept by the charity 8od a con￿aris0￿ of the fJJJaociai State￿entS presented those records. It also ineludes coosideratiou of any utsusual itaJs or th'selosuTrs ity the fit)aoeial siatenwts. aud seeks exp]￿lati￿15 froil) Ilie ttl￿tee$ eorttemitiKE arty siich nlatters. The Etroceditres do noi PToside all tlie eN'idence thal would be requ￿1 Ydudit and col￿tty I ikn Dot express audii opillion ￿ the view by the fuLancial statejnellts. Independent ex*nine¢s staiemetsi Yoiw Httfflition is to the fact that the charity has preparnl f￿ancial slatenients ￿ xcordance wilh Accowlting and reportJn8 by Charities prepariri8 thejr ACCOUnts JD accordance ￿1th the FiDAllaal Rep)rtJn8 Stalldatd AppbcAble in the UK and Republie of JTelaud (FRS 10?) in preference to the A¢coutstw 8Jd Reptirtin8 by Cjwities: StAtewetsi of Reco￿)￿)dea Practice issued on l Awil 2005 which is ￿(eXted io in t1￿ ex1￿1 resulaiiolls llow t*en witlJ&8Mw. l utderstalld thai tills h&s l)een (k)ue Jn order for the fuLqncial stateuieuts to pros'ide a true and fair Jn aecordauce Genually Accepted AccountinB Pr8rtice effeclii"e foT Tep)nin8 peri¢xis on or 8f*r i January 2015. In cOt￿eCTIon with my eXAmination. no other matter exeepi thai refett￿ io iti the prebryous par*yAph has come to my 181 which wN'e5 rewnable ¢awe ¢0 beli¢se th8t in mptsnal Tespert the requirer￿ts. lil to keep aeeouniin8 records iti aecoydance with seciiott 44(l) (a) of the 21)05 Act atsd Re8ulaiion 4 of the 2000 Aecounts Re8ulalion5'. and Illl to prep4we fmancial statements which accord with the ac¢ountin8 records ¢onyly Re￿￿•tion 8 of the 2006 Accol￿t$ Re8uJAiions: Ixave iiot been ll)et or (b) to whicli. in my Opinio￿ att￿tic￿ should be drawn ID crder to enAble a prcger understAThJinB of the fu￿¢1￿1 stotenienls to be reached. AlexA¢iilet Sli)al) AccoullI￿1l5 aud Bu5Jness Advisexs 180 St v￿cellt Street G1&5SOW G2 5SG 21/1212022 Dated.. NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK 7 ## STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31st MARCH 2022 ## INCOME |INCOME||| |---|---|---| |Notes
Donations
2
TOTAL INCOME
EXPENDITURE
Charitable Activities
TOTAL EXPENDITURE
3
Net (expenditure) / income
Net movement in funds
Total Funds brought forward
Total Funds Carried Forward|Unrestricted
Restricted
Funds
Funds
2022
3,150
£
120,713
£
123,863
3,150
120,713
123,863
30
119,811
119,841
30
119,811
119,841
3,120
902
4,022
3,120
902
4,022
969
19,825
20,794
4,089
20,727
24,816|2021
£
132,174| |||132,174
113,836| |||113,836
18,338| |||18,338
2,456| |||20,794| The notes on pages 9 to 13 form an integral part of these financial statements. NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK 8 ## STATEMENT OF FINANCIAL POSITION AS AT 31st MARCH 2022 ||Notes|||| |---|---|---|---|---| ||||2022|2021| ||||£|£| |CURRENT ASSETS||||| |Debtors|6||3,750|410| |Bank & Cash|||25,721|25,302| ||||29,471|25,712| |CURRENT LIABILITIES||||| |Creditors|7||4,655|4,918| |NET ASSETS|8||24,816|20,794| |FUNDS||||| |Restricted|||20,727|19,825| |Unrestricted|||4,089|969| |Total Charity Funds|9||24,816|20,794| |||21/12/2022||| These financial statements were approved by the Trustees on the …..................................... and signed on their behalf by: (Vice Chairperson) (Secretary) The notes on pages 9 to 13 form an integral part of these financial statements. NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK 9 ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022 ## 1 ACCOUNTING POLICIES ## Statutory information North West Glasgow Voluntary Sector Network is an unincorporated charity and is registered in Scotland. The registered office address (and principal place of business) is 10 Kelso Place, Glasgow, G14 0LL. ## Basis of preparation and Statement of Compliance The financial statements have been prepared in accordance with the charity's Constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and “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)” (as amended for accounting periods commencing from 1 January 2016). The principal accounting policies adopted in the preparation of the financial statements are set out below. The charity meets the definition of a public benefit entity under FRS 102. The financial statements are presented in UK Sterling and rounded to the nearest whole pound. ## Going Concern The Trustees are obliged to consider the appropriateness of the going concern assumption when preparing the financial statements. The North West Glasgow Voluntary Sector Network was awarded funding from the Glasgow City Council Glasgow Communities Fund from the 1st October 2020 to the 31st March 2023. The North West Glasgow Voluntary Sector Network has applied for a further three years funding from the Glasgow Communities Fund for the period 1st April 2023 to the 31st March 2026. Glasgow City Council is expected to inform successful organisations by January 2023. If the North West Glasgow Voluntary Sector Network does not receive this funding or manage to successfully apply for alternative funding, then the Trustees would have to consider closing the project. If reduced alternative funding was secured the Trustees believe the project could continue albeit at a reduced level for a period of twelve months from approving the financial statements. The Trustees therefore believe that it is still appropriate to prepare the accounts on a going concern basis. ## Fund accounting Funds are classified as either restricted funds or unrestricted funds, defined as follows. Restricted funds are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the charity. Unrestricted funds are expendable at the discretion of the Trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the Trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the Trustees’ discretion to apply the fund. ## Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably ## Donations Donations are recognised when the charity has evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Entitlement usually arises immediately upon receipt, however, in the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period. ## Grants receivable Income from government and other grants, whether 'capital' or 'revenue' in nature, are recognised when the charity has unconditional entitlement to the funds, it is probable that the income will be received, the amount can be measured reliably. Unconditional entitlement will be achieved once any performance or other conditions attached to the grants have been met, or fulfilment of those conditions is wholly within the control of the charity. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. . NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK 10 ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022 ## 1 ACCOUNTING POLICIES (Cont.d) ## 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 settlement will be required and the amount of the obligation can be measured or estimated reliably. Liabilities are measured on recognition at historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. ## Expenditure on charitable activities Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. The costs of charitable activities presented in the Statement of Financial Activities includes the costs of both direct service provision and the payments of grant awards if applicable. ## Governance costs Governance costs (which are included as a component of support costs in accordance with SORP) comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include those related to constitutional and statutory requirements, external scrutiny (audit or independent examination), strategic management, and other legal and professional fees. ## Activity based reporting To comply fully with the Statement of Recommended Practice would require income and expenditure to be reported by activity. The Trustees are of the opinion that the activities of the charity are inter-linked, therefore this would be impractical to calculate and would provide no additional benefit to the users of these financial statements. Therefore no further analysis of income and expenditure is provided within these financial statements. ## Debtors Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid after taking account of any discounts due. ## 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. ## 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. ## Financial instruments 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. ## Judgements and estimates In preparing the financial statements, the Trustees are required to make estimates and assumptions which affect reported income, expenses, assets, and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates. The Directors are satisfied that the accounting policies are appropriate and applied consistently. ## Taxation No taxation is provided for as all the income of the charity’s activities falls within the exemptions of sections 466 to 493 of the Corporation Tax Act 2010 (CTA 2010). NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK 11 ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022 ## 2 ANALYSIS OF INCOME FROM DONATIONS |Unrestricted
Restricted
2022
Funds
Funds
£
Grants
IGF - North West Glasgow Voluntary Sector Netw
-
-
-
GCF -North Wsest Glasgow Voluntary Sector Net
-
86,243
86,243
Lottery Awards For All
-
9,570
9,570
Scottish Council for Voluntary Sector Networks
-
15,000
15,000
Glasgow Council for Voluntary Sector
-
9,900
9,900
Drumchapel Life
-
-
-
GCC - Digital Inclusion
-
-
-
GCC - Area Partnership
-
-
-
Scottish Government
-
0
0
Donation
3,150
-
3,150
Total Donations
3,150
120,713
123,863
3
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted
Funds
Charitable Expenditure
Restricted
Funds
2022
£
Salary Costs
-
75,223
75,223
Recruitment
-
-
-
Travel
-
-
-
Training
-
375
375
Rent and Rates
-
8,250
8,250
Insurance
-
413
413
Telephone
-
800
800
IT Project Internet and Equipment
-
16,651
16,651
IT Project Computer Repairs and Testing
-
1,369
1,369
Stationery and Postage
-
2,906
2,906
Bookkeeping and Payroll
-
1,000
1,000
Consultancy
-
2,392
2,392
Development
-
8,766
8,766
Hall Hire and Catering
-
322
322
Events
-
-
-
Publicity
-
-
-
Bank Charges
30
30
60
Audit
-
1,314
1,314
30
119,811
119,841
4
(DEFICIT) /SURPLUS FOR THE YEAR
2022
The deficit of income over expenditure is stated after charging:
£
Independent Examiners Fee
1,314
5
STAFF COSTS AND REMUNERATION OF KEY MANAGEMENT PERSONNEL
2022
£
Salaries
69,437
Social Security Costs
1,419
Pension Costs
1,367
72,223|2021
£
37,500
45,114
10,000
-
-
1,440
8,500
12,420
17,200
-| |---|---| ||132,174| ||2021
£
62,585
230
-
-
4,750
410
800
34,256
2,571
3,508
1,000
-
1,928
346
-
-
30
1,422| ||113,836| ||2021
£
1,422| ||2021
£
60,860
522
1,203| ||62,585| NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK 12 ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022 - 5 STAFF COSTS AND REMUNERATION OF KEY MANAGEMENT PERSONNEL (Contd.) The Trustees consider the Charity's key management personnel comprise the Trustees, Project Co-ordinator and two part time Development Workers. The total employment benefits of the key management personnel were £71,250 (2021 £61,319). No employee received remuneration of more than £60,000 and no Trustee received any expenses or remuneration. |
expenses or remuneration.|
expenses or remuneration.||| |---|---|---|---| |The average number of employees during the year:
6
DEBTORS
Debtors
7
CREDITORS - Amounts falling due in less than one year:
Accruals and Deferred Income
8
Net Assets Analysis By Fund
Unrestricted Restricted
Funds
Funds
£
£
Current Assets
4,089
25,382
Current Liabilities
-
(4,655)
Total Fund Value
4,089
20,727
9
STATEMENT OF FUNDS
As at
Incoming
01.04.21
Resources
£
£
Unrestricted Funds
969
3,150
Restricted Funds
19,825
120,713
20,794
123,863||3
2022
£
3,750
2022
£
4,656
4,656
2022
£
29,471
(4,655)
24,816
Outgoing
Resources

£
(30)
(119,811)
(119,841)|3
2021
£
410| ||||2021
£
4,918| ||||4,918| ||||2021
£
25,712
(4,918)| ||4,089
20,727||20,794| ||
||| ||As at
Incoming
01.04.21
Resources
£
£
969
3,150
19,825
120,713||As at
31.03.22
£
4,089
20,727| ||20,794
123,863||24,816| ## Purpose of Funds Unrestricted Funds - represent the free reserves of the charity which the Trustees are free to use in furthering the charities objectives. Restricted Funds - represent grants received through Glasgow Communities Fund, Lottery Awards for All, Scottish Council for the Voluntary Sector ,Glasgow Council for the Voluntary Sector, Glasgow City Council and Scottish Government Funding which are applied in accordance with the funders' requirements. NORTH WEST GLASGOW VOLUNTARY SECTOR NETWORK 13 ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2022 ## 10 RELATED PARTY TRANSACTIONS During the year the Network paid the Yoker Resource Centre £6,000 (2021 : £4,750) for Office Space within the Yoker Resource Centre and £1,500 (2021: £1,500) for use of 5 Kelso Place for storage, £1,000 for bookkeeping and payroll services (2021: £1,000) and paid Yoker Community Campus £750 (2021: £nil) for storage. Thomas Munro was the Chairperson of the North West Glasgow Voluntary Sector Network and currently is Chairperson of both the Yoker Resource Centre and the Yoker Community Campus. ## 11 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2021 |Income
Donations
Total Income
Expenditure
Charitable Activities
Total Expenditure
Net (expenditure) / income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward|Unrestricted
Funds
Restricted
Funds
£
£
132,174
-
132,174
72
113,764
72
113,764
(72)
18,410
( 72)
18,410
1,041
1,415
969
19,825|2021
£
132,174| |---|---|---| |||132,174
113,836| |||113,836
18,338| |||18,338
2,456| |||20,794| Under Charities Statement of Recommended Practice (FRS102), comparatives for each class of funds are required for each line of the Statement of Financial Activities (SofA). The note above illustrates the SoFA for the year to 31st March 2021.