ASCEND HERTS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
Charity registration number 1073909
Company registration number 3685906 (England and Wales)
ASCEND HERTS LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Jose Francisco Tamayo Cuadrado
Annette Davis
Margaret Gallagher (Chair from 1 April 2023)
Marie-Louise Nolan (appointed 5 July 2022)
Brian Thomson (Chair until 31 March 2023)
Martin Waldron
Ashwin Tirodkar (appointed 18 September 2023)
Janet Lofthouse (appointed 16 October 2023)
Chief Executive Officer
Tiffany Richards (resigned 24 February 2023)
Finance Manager
Ingela Karlberg
Charity number
1073909
Company number
3685906
Principal address and
All Saints Church Centre
Registered office
Gosforth Lane
South Oxhey
Watford
Hertfordshire
WD19 7AX
Website
www.ascend.org.uk
Independent examiner
Gary Howard FCA
Howard Wilson Chartered Accountants
36 Crown Rise
Watford
Hertfordshire
WD25 0NE
Bankers
The Co-operative Bank plc
1 Balloon Street
Manchester
M60 4EP
ASCEND HERTS LIMITED
CONTENTS
Page
Trustees' report
1 - 6
Statement of trustees' responsibilities
7
Independent examiner's report
8
Statement of financial activities
9 - 10
Balance sheet
11
Notes to the financial statements
12 - 22
ASCEND HERTS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 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) (effective 1 January 2019)".

OUR AIMS AND OBJECTIVES
Our charitable objectives, as defined by the Memorandum of Association, are
The relief of those in need, by reason of unemployment, social deprivation, poor educational attainment, mental health issues or special needs, within the Three Rivers District of Hertfordshire and surrounding areas.
In furtherance of the objects, the Charity may provide advice, education, training and any other reasonable assistance to support individuals and the local community.  Our services are available to anyone living in South Oxhey, the Three Rivers District and surrounding areas.
The Charity was formerly known as All Saints Centre for Employment and New Directions Ltd.  On 20 March 2021 the trustees changed the charity's legal name to ASCEND Herts Ltd. so that it corresponds to the name by which the charity is commonly known.

ASCEND opened in August 1996 to counteract the problems of unemployment, social deprivation and learning difficulties and disabilities in the local area. ASCEND continues to carry on much of its work from All Saints' Church Centre, South Oxhey and the Dig Deep allotment. Until 31 December it also operated from the Step-Up building at 39 Oxhey Drive, South Oxhey until December 2022, and the Dig Deep allotment.  ASCEND welcomes everyone regardless of their beliefs, background, and ethnicity.  All are treated on an equal basis.
ASCEND'S VISION, MISSION AND VALUES

 

 

ASCEND provides a single point of entry for a variety of complementary services – training, advice, guidance and support into employment, volunteering, social interaction and inclusion, health and wellbeing.
We aim to:

 

 

 

ASCEND HERTS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
HOW OUR ACTIVITIES DELIVER PUBLIC BENEFIT
The trustees have paid due regard to Charity Commission's guidance on public benefit when deciding what activities to undertake and how they should be conducted.  Our activities  and their achievements are described below.
ACHIEVEMENTS AND PERFORMANCE

A successful SUMMER CELEBRATION event at All Saints on 18th July 2022 marking ‘back to normal’ after the pandemic. The ASCEND staff team and volunteers worked incredibly hard to make it a resounding success under very challenging circumstances - it was very hot. It was well attended by clients and partners (65 attended) and proved to be a fitting celebration of all things ASCEND, as well as an excellent networking opportunity. We proudly displayed our Jubilee Bunting project, which was then exhibited at the Three Rivers Museum.

ASCEND’s Warm Welcome: We took part in the local Warm Spaces programme to offer clients somewhere warm to meet during the cost-of-living crisis occasioned by the war in Ukraine. We provided a range of craft and learning activities together with light refreshments and an opportunity for attendees to be signposted to suitable services/resources. This took place twice a week between November 2022 and April 2023.

TRAINING COURSES

We were successful in a bid for a three year Step2Skills framework starting 2022/23 academic year. There were 37 courses which were delivered with 274 learners attending the programmes.

 

English Preparation/Reading Coaching class were a particular highlight with special attention for neurodiverse clients. These courses are run throughout the academic year, from August 2022 to July 2023.

 

The range of learning opportunities include the following: Cooking Healthy Basics on a Budget, Decoupage & Stitch Festive Cards, Decoupage & Stitch Springtime Hoop, Dig Deep Wildlife Watch ,Embossed Glass Painting, Intermediate English, Preparation Class ESOL Beginner Entry level 1, Gardening - Planting for Sustainability, IT Computing for Beginners, IT Microsoft Office Basics, Mixed Media (MM) Egyptian Journal, MM Embossed Glass Painting, MM Floral Silk Paper Making, MM The Mysterious Forest, MM Out of Africa, RaW Friends, The Creative Enterprise Project and Traditional Country Crafts.

INFORMATION, ADVICE AND GUIDANCE

ASCEND provided weekly individual interview preparation and practice appointments for Job Centre Plus clients, as well as clients referred from the Citizens Advice Bureau, social subscribers (NHS), and through the ASCEND web site. There were 74 clients referred, with 21 offered the service did not respond. The outcomes were that 12 clients gained employment, 2 currently volunteer, 3 are in education. CVs for 21 clients were prepared, 17 were given job search skills, and 10 interview preparation. The range of employment achieved included: charity worker, legal administrator, traffic enforcement, care assistant, passenger assistant, marketing, ticket sales, and photo technician.

 

Through the Job Centre 170 clients were assisted with interview preparation and role play.

 

A total of 244 clients from ASCEND and the Job Centre had access to this service.

 

In October 2021, ASCEND was successfully re-accredited with the Matrix standard, an industry-wide standard required for the delivery of information, advice and guidance to clients.

STEP UP HUB
Step Up was a community hub for local groups and partnerships which closed on the 31 December 2022.  Activities at Step Up included “The Safe Day Project” which was delivered over 18 weeks, the Job Club and aspects of the wellbeing programme. There was a Wednesday drop-in activities session and a range of self organised groups (SOGs). It was also used as a venue for meetings with our partner community organisations. Over this period 1,762 people used this facility.
ASCEND HERTS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
HEALTHY HUB – AND HILLSIDE HUB ABBOTS LANGLEY
The Healthy Hub in South Oxhey and the Hillside Hub in Abbots Langley was a collaboration with Three Rivers District Council (TRDC) to develop outreach to the community. There were 617 attendees at the Hubs, 548 female and 69 male participants.
Activities and classes for these Hubs included the Warm Welcome, Nordic Walking, Pre-Diabetic cookery classes, plus a Self Organised Group (SOG). The SOG book group was supported by this initiative. Classes were also offered in the evening, Flamenco Dancing courses, Expressive Art, and a Cosy Club online craft support group.
Other connected projects that were offered by ASCEND were Healthy Lifestyles and Cooking on a Budget.
In October 2022 TRDC reviewed the HUB initiative across Three Rivers District and decided to take this provision in-house.
IGNITE
This National Lottery funded project, designed to combat isolation in the 50+ age group. This project was extended to April 2023 and the highlights included greenwood carving, willow weaving, and was linked to the flamenco evening class.
DIG DEEP GARDENING PROJECT
We appointed a new Dig Deep Coordinator Avril Burrows and this has enabled us open whole new areas of the site and Avril is working very well to support our volunteers.
On 18th August 2022, Avril and the team put together a truly amazing open day which showed just what an asset Dig Deep is. We were blessed with good weather and many clients, partners and locals (with their families) came along to support the event. We had 52 people through the gate, 41 of whom were new to ASCEND. We also recruited 6 new gardening volunteers.
ASCEND was selected to receive a tree from the “Queen's Canopy” tree-planting initiative to mark Her Majesty's Platinum Jubilee. The tree was planted on 8th December 2022 by Councillor Joan King, Chair of the Watford Rural Parish Council.
A plan for a sensory garden was commissioned and is currently being reviewed for incorporation into the site. A mural was commissioned and it to be installed at the site.
CONCLUSION
Supporting our clients to negotiate a path through the “new normal” following the Covid 19 pandemic has remained a priority for ASCEND. After a tentative start to the year and despite a number of setbacks, the staff and volunteers continued to meet each challenge effectively.
ASCEND has responded to the changing landscape in a number of ways, including becoming more agile in its approach to service delivery e.g. outreach to Abbots Langley and by developing our infrastructure by moving towards Cloud Computing. This has all been undertaken whilst remaining true to our founding values and by continuing to place our clients at the heart of everything we do.
STAFF AND VOLUNTEERS
Tiffany Richards was our Chief Executive Officer during this year until the end of February 2023. Following her resignation, two of the Trustees have covered the management needs whilst we advertised for a new CEO. Under the guidance of these Trustees, the staff have shown their flexibility and commitment in difficult circumstances.
ASCEND HERTS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
The following staff delivered ASCEND's programmes during the year: Guidance Worker Co-ordinator, Training Co-ordinator, Healthy Hub and Wellbeing Co-ordinator, Administrator, Facilities Manager at Step Up, Finance Manager, Learning Mentor and Dig Deep Co-ordinator. In addition, a consultant supports the organisation with fundraising and public relations.
The work of ASCEND has been supported by 40 volunteers and the five Trustees in a variety of ways including welcoming clients, providing support at events, assisting tutors, developing and maintaining the Dig Deep allotment and providing IT support.  In addition to providing vital support for ASCEND's activities, volunteering offers clients scope for personal development.
The trustees are extremely grateful for all that the staff and volunteers do for ASCEND and for the clients, particularly as the South Oxhey community is experiencing the full impact of the cost-of-living crisis whilst still recovering from the Covid-19 pandemic.
Our success is due to the personalised attention the staff give to every client and to their commitment to the overall aims of improving the lives of those who are disadvantaged. Their hard work and dedication have led to the very high reputation of ASCEND both locally and further afield.
SAFEGUARDING
Safeguarding is a priority for the board of ASCEND to ensure the welfare of our clients, volunteers and team. The board and staff undertake appropriate safeguarding training and the CEO, Tiffany Richards, was the Designated Safeguarding Lead. The Safeguarding Lead and both Deputies have achieved their Level 3 in safeguarding training. Safeguarding is a standing item on each board meeting agenda and there is a regular review of ASCEND's Safeguarding policy and training programme (which includes “Prevent”). One of the Trustee Board, Annette Davis is the Safeguarding Lead for the Board and is actively consulted about any arising safeguarding concerns.
FINANCIAL REVIEW
The charity's expenditure in the year exceeded the income, generating a deficit of £122,082. This was funded from reserves but is clearly unsustainable in the longer term. We are actively seeking new income streams.
Funds in hand as at 31st March 2023 amounted to £133,094, of which £52,037 was classified as restricted, to be applied to the continuation of existing contracts and projects into 2023/2024.
ASCEND's largest single source of funds was £55,479 from Step2Skills Hertfordshire. We also received £42,650 from The Henry Smith Charity.
In addition, we secured unrestricted funds of £25,000 from Garfield Weston Foundation.
We continue to be grateful for the many donations that ASCEND has received from individuals, from churches and from other bodies. These came to a total of £11,782 during the year which, we trust, is evidence of the regard in which our work is appreciated in our locality.
RESERVES POLICY
The trustees aim to keep reserves equal to 90 days total expenditure. This has been more than achieved since unrestricted and designated funds amount to £81,057. The grants and contracts that form the main source of ASCEND's income are treated as restricted funds. They are secured and, subject to meeting performance requirements, are paid regularly in accordance with terms agreed before the work commences. The trustees monitor the position on at least a monthly basis and are thus able to initiate any necessary corrective action should that appear to be desirable.
INVESTMENT POWERS
The trustees have the power to invest the monies of the Company not immediately required for the furtherance of its objects in or upon such investments, securities or property as may be thought fit, subject nevertheless to such conditions (if any) and such consents (if any) as may be imposed or required by law.
ASCEND HERTS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
RISK MANAGEMENT
The trustees annually assess the major risks to which the charity is exposed. These risks include damage to ASCEND's reputation, criminal acts, data loss, health and safety, pension liabilities, loss of key members of staff and management, and changes to funding sources. The Trustees are satisfied that systems are in place to mitigate exposure to those risks.
Internal risks are minimised by the implementation of procedures for the authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of ASCEND. These procedures are periodically reviewed to ensure that they still meet the needs of ASCEND.
STRATEGIC REPORT

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the trustees to present a strategic report.

OUR PLANS FOR THE FUTURE
ASCEND is at a point of transition. The Step2Skills contract was not renewed for the year 2023/24, which initiated this process of review. The Trustees fully recognise the need to address this change in the Charity's financial position to ensure that it remains a going concern and continues to deliver high quality services to the community.
From this review we have agreed the key focus of the future development of ASCEND. This includes the development of a range of services we could provide at Dig Deep and providing creative courses at full cost recovery. This will enable ASCEND to deliver additional courses that are currently not funded but are needed by the community, such as literacy, ESOL, IT and numeracy.Earlier this year we engaged a professional bid writing company. which works exclusively with the voluntary sector, and they have supported us in making a number of funding applications to develop and sustain Dig Deep and our other services.  A survey of current users and the wider community has enabled us to respond to the needs of people living in South Oxhey and the surrounding area.
We are substantially reducing our overheads by suspending consultancy hours and other staffing costs, with staff working from home, facilitating courses at full cost recovery and with more on-line sessions.  We shall be moving to different premises in South Oxhey in January 2024 which will result in further considerable savings.
Our new Lifeline Project, funded via the Hertfordshire County Council Community Health Team, provides another opportunity for us to work closely with our longstanding partners and develop new relationships with other organisations.  The project builds upon earlier work undertaken through the Healthy Hub, the Warm Welcome and Dig Deep. The focus of this project is to address isolation in the community for people over 55 years and the development of community-based opportunities with the aim of improving health and wellbeing.  There is also an element of Information, Advice and Guidance work to the project which enables us to continue to address the need for skills development for this age group through one-to-one support, volunteering opportunities and the Job Club.
The funding environment is very challenging. To address our deficit, we will keep our finances under constant review, act in accordance with these financial limitations and are producing a robust business continuity plan. We are continuing to deliver high quality services to the community and seeking ways to develop our sustainability working in partnership with the local authority, the parish council, and other local organisations.
During the year the board appointed a new trustee and has recently recruited two more, with a background in financial management and community-based charities. Margaret Gallagher was appointed the Chair of the Board on 1.4.2023.  She has worked in the NHS as an senior occupational therapist/manager and as a lecturer at Brunel University. Marie-Louise Nolan was appointed as the Vice Chair on 1.4.2023. She has worked at a senior level in education, local government and with the charity sector. Martin Waldron has extensive experience as a senior manager, company director and entrepreneur. Jose Tamayo Cuadrado is a senior executive in an international media company. Annette Davis, currently a senior Project Manager at Centrepoint London, joined us in 2022 having lived in South Oxhey during her childhood. Our new trustees are Aswin Tirodkar (appointed September 2023), who is experienced in financial management and business studies lecturing in the USA and supporting social enterprise start-ups in the UK. Janet Lofthouse (appointed October 2023) has a wide experience in the insurance sector and as an ESOL teacher, as well as volunteering at ASCEND.
ASCEND HERTS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
STRUCTURE, GOVERNANCE AND MANAGEMENT
GOVERNING DOCUMENT
ASCEND Herts is a company limited by guarantee.  Its governing document is the Memorandum and Articles of Association (September 2011).  The company name was changed from All Saints' Centre for Employment and New Directions on 20th March 2021 to correspond with the name by which the charity is commonly known.
RECRUITMENT AND APPOINTMENT OF THE TRUSTEES
The trustees are also the directors for the purpose of company law. All trustees give their time voluntarily and received no benefits from the charity.
Those who served during the year were: Jose Tamayo Cuadrado, Annette Davis, Margaret Gallagher, Marie-Louise Nolan (appointed July 2022), Brian Thomson (Chair), and Martin Waldron.
The trustees are appointed by the members of the Company, and the members are currently also the directors. Between them the trustees have considerable experience in business, government, information technology, health, education and the voluntary sector. The trustees are constantly aware of the need to recruit new trustees, particularly people with much needed experience or skills such as finance, human resources or with a legal background.
The management committee is made up of the trustees together with the CEO and Finance Manager.
The board holds formal meetings monthly.  The CEO submits a written report to each management meeting, covering all aspects of the preceding month. The report is discussed in detail and together with the financial statements provides the basis for most of the decisions taken.
Margaret Gallagher
Trustee
Dated: 5 November 2023
ASCEND HERTS LIMITED
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -

The trustees, who are also the directors of ASCEND Herts Limited for the purpose of company law, 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).

 

Company Law 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, including the income and expenditure, of the charitable company for that year.

 

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 estimates that are reasonable and prudent; and

 

- 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 adequate accounting records that 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 Companies Act 2006. 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.

ASCEND HERTS LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ASCEND HERTS LIMITED
- 8 -

I report to the trustees on my examination of the financial statements of ASCEND Herts Limited (the charity) for the year ended 31 March 2023.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements 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 financial statements 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 financial statements to be reached.

Gary Howard FCA
Howard Wilson Chartered Accountants
36 Crown Rise
Watford
Hertfordshire
WD25 0NE
Dated: 16 November 2023
ASCEND HERTS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
Current financial year
Unrestricted
Restricted
Total
Total
funds
funds
2023
2023
2023
2022
Notes
£
£
£
£
Income from:

Donations and legacies

3
11,612
170
11,782
55,777

Employment advice and training

4
27,759
132,658
160,417
302,948
Investments
5
-
-
-
1
Total income
39,371
132,828
172,199
358,726
Expenditure on:

Costs of generating donations and legacies

6
581
16,982
17,563
16,525

Employment advice and training

7
45,729
230,989
276,718
305,231
Total expenditure
46,310
247,971
294,281
321,756
Net (outgoing)/incoming resources before transfers
(6,939)
(115,143)
(122,082)
36,970
Gross transfers between funds
550
(550)
-
-
Net (expenditure)/income for the year/
Net movement in funds
(6,389)
(115,693)
(122,082)
36,970
Fund balances at 1 April 2022
87,446
167,730
255,176
218,206
Fund balances at 31 March 2023
81,057
52,037
133,094
255,176

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
ASCEND HERTS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 10 -
Prior financial year
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
Notes
£
£
£
Income from:

Donations and legacies

3
52,705
3,072
55,777

Employment advice and training

4
33,926
269,022
302,948
Investments
5
1
-
1
Total income
86,632
272,094
358,726
Expenditure on:

Costs of generating donations and legacies

6
8,525
8,000
16,525

Employment advice and training

7
97,963
207,268
305,231
Total expenditure
106,488
215,268
321,756
Net (outgoing)/incoming resources before transfers
(19,856)
56,826
36,970
Gross transfers between funds
-
-
-
Net (expenditure)/income for the year/
Net movement in funds
(19,856)
56,826
36,970
Fund balances at 1 April 2021
107,302
110,904
218,206
Fund balances at 31 March 2022
87,446
167,730
255,176
ASCEND HERTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 11 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
11
9,715
13,157
Cash at bank and in hand
178,304
287,120
188,019
300,277
Creditors: amounts falling due within one year
12
(54,925)
(45,101)
Net current assets
133,094
255,176
Income funds
Restricted funds
14
52,037
167,730
Unrestricted funds
Designated funds
15
34,854
53,407
General unrestricted funds
46,203
34,039
81,057
87,446
133,094
255,176

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 5 November 2023
Margaret Gallagher
Trustee
Company Registration No. 3685906
ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 12 -
1
Accounting policies
Charity information

ASCEND Herts Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is All Saints Church Centre, Gosforth Lane, South Oxhey, Watford, Hertfordshire.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are funds received which can only be used for the specific purpose as laid out by the donor.  Expenditure which meets this criteria is identified to the fund, together with a fair allocation of overhead costs.  The aim and use of each restricted fund is set out in the note to the financial statements.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5
Expenditure

Resources expended are included in the Statement of Financial Activities on an accruals basis inclusive of VAT.

ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 13 -
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. The Trustees have a policy of charging individual items costing less than £1,000 directly to the Statement of Financial Activities in the year of purchase. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 14 -
1.9
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

The charity participates in a defined benefits pension scheme. The scheme is a multi-employer scheme and as a result is accounted for as though it is a defined contribution scheme, see also note 12 for further details. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme.

1.11

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.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 15 -
3

Donations and legacies

Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Donations and gifts
11,612
170
11,782
12,705
3,072
15,777

Grants receivable for core activities

-
-
-
40,000
-
40,000
11,612
170
11,782
52,705
3,072
55,777
Grants receivable for core activities
The Henry Smith Charity
-
-
-
40,000
-
40,000
-
-
-
40,000
-
40,000
4

Employment advice and training

2023
2022
£
£

Courses and Career Services

7,459
8,816

Grants receivable

152,958
294,132
160,417
302,948
Analysis by fund
Unrestricted funds
27,759
33,926
Restricted funds
132,658
269,022
160,417
302,948
Grants were received from the following:
Big Lottery Fund
-
22,539
Hertfordshire County Council - Building Better Opportunities
3,074
32,886
Hertfordshire County Council - Step 2 Skills
55,479
45,544
Hertfordshire Community Foundation
11,985
31,748
Three Rivers District Council
5,000
76,087
Resolving Chaos - Connect Hertfordshire
-
13,162
Garfield Weston Foundation
25,000
20,000
National Lottery Awards for All
-
10,000
Watford & Three Rivers Trust
3,000
15,500
The Henry Smith Charity
42,650
21,000
Other
6,770
5,666
152,958
294,132
ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 16 -
5
Investments
Total
Unrestricted
funds
2023
2022
£
£
Interest receivable
-
1
6

Costs of generating donations and legacies

Unrestricted
Restricted
Total
Total
funds
funds
2023
2022
£
£
£
£

Costs of generating donations and legacies

Fundraising and publicity
581
16,982
17,563
16,525
581
16,982
17,563
16,525
For the year ended 31 March 2022

Costs of generating donations and legacies

8,525
8,000
16,525
ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 17 -
7

Employment advice and training

2023
2022
£
£
Staff costs
180,404
192,457

Staff training

105
1,029

Rent and rates

19,407
17,272

Insurance costs

6,101
5,846

Light and heat

6,896
5,021

Repairs and maintenance

6,585
5,411

Communications

4,723
5,316

Computer costs and sundry

3,088
10,418

Travel and subsistence costs

552
606

Postage and stationery

4,922
4,695

Project costs

1,131
5,290

Governance costs

1,260
1,200

Courses

40,225
47,696

Legal and professional

1,319
2,974
276,718
305,231
Analysis by fund
Unrestricted funds
45,729
97,963
Restricted funds
230,989
207,268
276,718
305,231
Governance costs include independent examiner's fees of £1,260 (2022: £1,200).
8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 18 -
9
Employees
Number of employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Direct charitable work
7
9
Management and administration
2
2
9
11
Employment costs
2023
2022
£
£
Wages and salaries
169,052
176,873
Social security costs
7,338
9,652
Other pension costs
4,014
5,932
180,404
192,457
There were no employees whose annual remuneration was £60,000 or more.
10
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
700
Other debtors
1,784
2,544
Prepayments and accrued income
7,931
9,913
9,715
13,157
12
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
1,447
4,587
Trade creditors
20,294
6,707
Other creditors
209
1,688
Accruals and deferred income
32,975
32,119
54,925
45,101
ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 19 -
13
Retirement benefit schemes
Defined contribution schemes

ASCEND Herts Limited participates in the Pension Builder Scheme section of the Church Workers Pension Fund (CWPF) for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.

 

CWPF has two sections:

  1. the Defined Benefits Scheme

  2. the Pension Builder Scheme, which has two subsections;

    1. a deferred annuity section known as Pension Builder Classic, and,

    2. a cash balance section known as Pension Builder 2014.

Pension Builder Scheme

Both sections of the Pension Builder Scheme are classed as defined benefit schemes.

 

Pension Builder Classic provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.

 

Pension Builder 2014 is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2023: £4,014, 2022: £5,932).

 

A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2022.

 

For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 10.1% following improvements in the funding position over 2022. There is no requirement for deficit payments at the current time.

 

For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.

 

The legal structure of the scheme is such that if another employer fails, ASCEND Herts Limited could become responsible for paying a share of the failed employer’s pension liabilities.

ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 20 -
14
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Movement in funds
Balance at
1 April 2021
Incoming resources
Resources expended
Balance at
1 April 2022
Incoming resources
Resources expended
Transfers
Balance at
31 March 2023
£
£
£
£
£
£
£
£
Independent Living
1,522
-
-
1,522
-
-
-
1,522
Employment Advice and Training
29,707
110,837
(123,654)
16,890
102,740
(121,747)
14,531
12,414
Big Lottery
36,639
22,539
(37,021)
22,157
-
(14,411)
(7,746)
-
Step-Up
15,323
96,087
(28,628)
77,782
7,395
(69,376)
(15,801)
-
Dig Deep Allotment Project
9,983
5,883
(9,660)
6,206
6,527
(6,249)
721
7,205
Hertfordshire Community Foundation
-
26,748
-
26,748
-
(10,189)
7,745
24,304
Community Blanket
1,995
-
(1,995)
-
-
-
-
-
Gade Valley Project
1,500
-
(75)
1,425
-
(1,425)
-
-
Social Prescribing
-
10,000
-
15,000
-
(11,046)
-
3,954
John Lewis Fund
12,200
-
(12,200)
-
-
-
-
-
Watford & Three Rivers Trust
2,035
-
(2,035)
-
-
-
-
-
Warm Welcome Hub
-
-
-
-
3,000
(3,000)
-
-
Turning Pages Programme
-
-
-
-
3,181
(543)
-
2,638
The Safe-Day Project
-
-
-
-
5,000
(5,000)
-
-
Bunting project
-
-
-
-
4,985
(4,985)
-
-
110,904
272,094
(215,268)
167,730
132,828
(247,971)
(550)
52,037
ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
14
Restricted funds
(Continued)
- 21 -

Independent Living relates to funds received to provide for grants for young people setting up on their own.

 

The Employment Advice and Training fund relates to funds given specifically for the charity's work in providing employment advice and training to its clients. This has been funded, among others, by Hertfordshire County Council Building Better Opportunities, Step 2 Skills and The Henry Smith Charity.

 

The Big Lottery relates to the Ignite Defeating Loneliness Together project.

 

Step Up is operated by ASCEND from 39 Oxhey Drive and provides facilities for ASCEND and a range of organisations to use for engaging with clients from the community. The project is funded, among others, by Three Rivers District Council and Watford & Three Rivers Trust.

The Dig Deep Allotment training project is run by ASCEND in partnership with Farming for All CIC . It is part of ASCEND’s I2E project.

 

Hertfordshire Community Foundation is funding for the lifeline project.

 

Community Blanket is funding from a Clinical Commissioning Group for a craft project to combat isolation and loneliness in lockdown.

 

The Gade Valley Project is for funding of the Hillside Hub, Abbots Langley.

 

Social Prescribing is funding to work with GP surgeries to refer individuals to a link worker from National Lottery Awards for All and Hertfordshire Community Foundation.

 

The John Lewis Fund and Watford & Three Rivers Trust Grants were towards funding a guidance worker.

 

Warm Welcome Hub - is funding from Hertfordshire Community Foundation and Communities 1st to provide a 'warm space' where people can socialise and be warm, in order to counteract the sharp increase in residential fuel bills.

 

Turning Pages Programme trains volunteers to support adults who need one to one mentoring in helping them overcome the barriers preventing them learning to read.

 

The Safe-Day Project is funded by the Police and Crime Commissioner's Fund for Hertfordshire's Action Fund.

 

Bunting project is funding from Arts Council England for at least 70 local people to create 70 bunting flags to celebrate the Queen's reign.

 

ASCEND HERTS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 22 -
15
Designated funds
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
Balance at
1 April 2021
Resources expended
Balance at
1 April 2022
Resources expended
Balance at
31 March 2023
£
£
£
£
£
Contingency Fund
57,162
(3,755)
53,406
(18,552)
34,854
57,162
(3,755)
53,406
(18,552)
34,854

The contingency fund has been created from surplus funds on previous projects to help support future contingencies including any potential costs arising from the COVID-19 pandemic.

16
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Fund balances at 31 March 2023 are represented by:
Current assets/(liabilities)
81,057
52,037
133,094
87,446
167,730
255,176
81,057
52,037
133,094
87,446
167,730
255,176
17
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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