Charity registration number 1054322
Company registration number 3132487 (England and Wales)
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
G Harris
C Ruane
L Jones
S Wilson
K Bellis
G Sandilands
J Gardner
N Donovan
(Appointed 22 May 2024)
Charity number
1054322
Company number
3132487
Registered office
Naylor Leyland Centre
Well Street
Ruthin
LL15 1AF
Auditor
Sage & Company Business Advisors Ltd
102 Bowen Court
St Asaph Business Park
St Asaph
Denbighshire
LL17 0JE
Solicitors
Gamlins Solicitors Rhyl
33-37 Russell Road
Rhyl
LL18 3DB
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
CONTENTS
Page
Trustees' report
1 - 8
Statement of trustees' responsibilities
9
Independent auditor's report
10 - 11
Statement of financial activities
12 - 13
Statement of financial position
14 - 15
Statement of cash flows
16
Notes to the financial statements
17 - 33
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their report and financial statements for the year ended 31 March 2024.

 

NEWVOL is a charity registered in the United Kingdom. The Charity Registration Number is 1054322.

 

NEWVOL is incorporated as a company limited by guarantee and registered in the United Kingdom, number 3132487.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, 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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

DVSC enables charities and community groups to be more effective and more connected, working together to build a strong and vibrant Denbighshire.

 

DVSC is a partner in Third Sector Support Wales; a consortium of the 19 County Voluntary Councils, Wales Council for Voluntary Action and Welsh Government.

 

Thanks to core funding from Welsh Government, we deliver Third Sector Support in Denbighshire, across four pillars of activity:

 

 

 

All our work and projects align with this strategic framework of support and aim to meet the 7 principles, and 5 ways of working of the Wellbeing of Future Generations Act.

 

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Achievements and performance

Introduction

DVSC has continued to provide our services in support of the 3rd sector in Denbighshire. We provided grants and funding advice, volunteering support, governance advice and helped our sector engage and influence our public sector partners, and Welsh Government.

We also developed a deeper partnership between the 3rd Sector and Betsi Cadwaladr University Health Board, and further extended our community led Dementia Awareness Denbighshire project.

In terms of new projects for 2023-2024, DVSC has launched a major Key Fund project, as part of the UK Government’s Shared Prosperity Fund. This major project provides capital and revenue grants to the Denbighshire 3rd Sector, aimed at improving sustainability and resilience. Additional to the grants, this Key Fund offers a range of Masterclass training courses, one to one coaching, action learning sets, and direct support to new social enterprises.

Finally, we have partnered with the Albert Gubay Foundation and Social Enterprise Academy to deliver a 2 year Schools Social Enterprise project with schools in Rhyl, building on the entrepreneurial skills and community leadership of children and young people in 6 schools in Rhyl.

Team

In terms of new starters, we have appointed both a Manager and a Monitoring Officer for our Key Fund project. The rest of the staff team has remained stable. We continue to invest in our team, to support their growth, motivation and skills. We continue to work in a hybrid model that supports flexibility and teamwork. We work hard to nurture our progressive, kind and supportive workplace culture.

Board

The Board has remained stable this year, with one trustee leaving and one joining after the year end.

 

Volunteering

Volunteering remains at the core of what we do and what we support. We celebrate, promote, match and support volunteers and work with our members to ensure they provide a quality experience for volunteers. This year we have:

 

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

Governance

 

Providing advice on good governance is at the heart of DVSC’s role. We provide information, advice, one to one consultancy, training and networking opportunities for Third Sector organisations that need support in how they operate and are governed.

We provide access to a range of information sheets and signposting to the TSSW Knowledge Hub website.

A great deal of our Key Fund 321 Masterclass programme is aimed at supporting how Third Sector organisations are set up and run, for example how to measure impact, and how to manage change. Additionally we ran one on one Build It support sessions for people starting up and at early stages of development of social enterprises.

 

Funding

 

Grants : In 2023-2024, In addition to the Key Fund, DVSC administered 5 different funds across Denbighshire. 42 projects were funded, totalling £207,980.

To give an idea of demand, we had 100 total applications received across the grant rounds, totalling £534,110.

 

Key Fund: DVSC was successful in securing a major Key Fund project as part of the UK Government’s Shared Prosperity Fund. The Key Fund is focused on making significant revenue and capital grants to shore up the resilience and sustainability of the 3rd sector in Denbighshire.

As well as grants, the Key Fund also delivered a range of Masterclass training courses, one to one consultancy and coaching, and other support,

Round One of the Key Fund was launched on 1st September 2023.

In Round One, £275,000 in Capital and £303,789 in Revenue grant were available, as well as £20,000 of smaller grants under the Acorn Fund for new entrepreneurs.

A total of 82 applications to the Key Fund were received from a diverse spread of organisations and groups, and from a good range of geographic locations across the county.

We awarded Key Fund grants of £598,789 in total in 2023-24.

 

 

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -

 

We wish to thank the volunteer grant panellists for our Key Fund, Youth Grants and overall grants programmes, who ensure an independent and objective community voice is part of the process, mitigating bias, ensuring regional representation and leading to equitable and effective grant distribution.

DVSC staff also take part in the panels of other major regional funders including Gwynt Y Mor and Burbo Bank among others. We organise regular well attended Funding Fairs (3 across the county in 23-24) and Meet the Funder events, and advise on other grants that organisations can apply for.

Total Grants Awarded:

 

Fund

Number of grants made

Total allocated

 

 

 

Welsh Church Act Fund

11

£5,291

Youth-Led Grants

4

£7,804

Dementia-Aware Community Led Grant

10

£41,182

DCC Social Isolation & Loneliness

7

£22,727

DCC Voluntary Sector Grant

10

£130,976

Key Fund Round 1

33

£598,789

 

 

 

Total

75

£806,769

 

 

 

 

 

 

 

Influencing & Engagement

DVSC continues to represent the Denbighshire Third Sector and help it to work closely with Denbighshire County Council, Betsi Cadwaladr University Health Board, and a range of other public bodies. We do this through membership of:

…as well as many more.

 

We also take part in a number of other national forums and networks through Third Sector Support Wales including our Chief Officer being Chair of the Governance Practitioner Group.

In 2023 we established the Denbighshire Third Sector Influencing Group, with representation from a range of sectors among the 14 voluntary members. We collectively look to discuss, raise and communicate matters of concern and collective interest to our public sector partners. This new Group met 3 times in the year.

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -

Health and Wellbeing

Partnership with Betsi Cadwaladr University Health Board

The role of DVSC’s Wellbeing Partnership Manager is to ensure information is disseminated between the various sectors across health and social care. We attend various meetings with Third sector organisations, the Denbighshire County Council and Betsi Cadwaladr University Health Board. For example, DVSC along with other CVCs were asked to be partners in a celebration event focused on what social prescribing brings to the community. This involved various hours supporting Public Health in their reporting of the added value from social prescribing and what it brings to the health and wellbeing of those that take part, resulting in a really well attended, valuable day.

As well as bringing the Third sector into a range of meetings and events and building lasting partnerships, we contributed to the development of the Inverse Care Law project and the development of Clusters, the delivery of Regional Integration Fund and related projects, and hosting the North Wales Third Sector Network meeting in Denbighshire. Our work is held together by the four Denbighshire Third Sector Wellbeing Network meetings that we hold each year.

Dementia Aware Denbighshire

Dementia Aware Denbighshire is funded from the Welsh Government’s Regional Integration Fund. It is an established project supporting community-led support for people living with dementia and their carers. In 2023-24 we delivered:

Naylor Leyland Centre

Naylor Leyland Centre in Ruthin continues to be our home – a flexible office space for our hybrid team to come together and work from, and a community building with excellent meeting and event facilities used by a diverse range of Denbighshire’s 3rd Sector organisations. We have invested this year in more modern tables to ensure that we can set up for events more quickly and safely. We have also restarted a process with Denbighshire County Council around an asset transfer of the building from DCC’s Corporate Trusteeship to DVSC’s ownership, which we hope to complete in 2025.

Financial review

Financial performance showed an increase in income to £1,327,742 from £815,595 in 2022-2023. The charity ended the year with a surplus of £30,178. This performance was partly due to the scale and ambition of the Key Fund project and other new projects including the Rhyl School Social Enterprise project, as well as continued careful management of expenditure.

Risk Management

The DVSC Board discusses the charity’s risk register at Board meetings. Additionally the Board reviews risk when budget setting and setting the appropriate level of reserves. The Board are notified in the event of significant adverse variances to the risk register and any unexpected impact outside the annual reporting cycle.

 

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -

Reserves Policy

The Reserves Policy is reviewed annually. Our Liquid Reserves at the start of the year was increased to £235,232.

DVSC’s reserves policy for the financial year, as agreed by the Board, was based on the following requirements:

Budget setting

The financial position (with an increase in reserves) provided the Board with assurance that DVSC remains on a positive trajectory; and continues to deliver business growth with significant free reserves.

 

Looking to the Future

The Board remains committed to developing DVSC’s support to the sector whilst managing risks, and finances prudently, in line with their trustee duties. The focus for the year ahead is on delivering the Key Fund project, whilst learning more about what the sector needs and designing successor programmes.

The Trustees’ aim, working in partnership with the Chief Officer, is to ensure that DVSC provides a sustainable sector support service in Denbighshire, with staff resource proportionate to the funds provided, and with sufficient internal capacity and capability to meet new opportunities.

DVSC has security in terms of its core Third Sector Support Wales grant from Welsh Government, agreed until end of March 2025. The Dementia Aware Denbighshire project funding has been extended a further year to the end of March 2025 with a view to this being delivered until 2027. Our work with BCUHB is growing in impact and we look to maintain this contract and long term relationship. Risks on these funding sources have been assessed and informed the budget setting process.

 

Structure, governance and management

The Charity is a private limited company by guarantee without share capital.

 

Registered Office: Naylor Leyland Centre, Well Street, Ruthin, LL15 1AF

 

Advisers to the Company:

 

Solicitors: Gamlins, 31/​37 Russell Road, Rhyl LL18 3DB

 

Bankers: Barclays Bank

 

Auditors: Sage & Company Business Advisors Ltd, 102 Bowen Court, St Asaph Business Park, St Asaph, LL17 0JE

 

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

G Harris
C Ruane
L Jones
Rt Hon D Hanson
(Resigned 11 July 2024)
S Wilson
K Bellis
G Sandilands
J Gardner
N Donovan
(Appointed 22 May 2024)

Chief Officer: Mr Tom Barham

 

Legal responsibility for the control of DVSC's activities and funds lies with the Board of Directors. Day to day leadership and management of the charity is delegated to the Chief Officer.

 

Directors are appointed and retire in accordance with the company's Articles of Association. The Articles were renewed in 2022 and Directors can serve a maximum of 2 terms and a total of 6 years.

 

The Board of Directors collectively ensure that the income and property of the charity is applied for the purposes set out in the Memorandum and Articles of Association and for no other purposes.

 

The Directors are responsible for all decisions in relation to strategy and budgets.

 

DVSC's Chief Officer reports directly to the Board of Directors and is responsible for working with and supporting the Board in line with the principles and practice of good governance and providing day to day leadership and management of the organisation.

 

 

Transactions with related parties

 

There are no conflicts of interest to report in relation to transactions with related parties.

 

Auditor

In accordance with the company's articles, a resolution proposing that Sage & Company Business Advisors Ltd be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of audit information

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

 

The trustees' report was approved by the Board of Trustees.

S Wilson
Chair
29 August 2024
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
STATEMENT OF TRUSTEES' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -

The trustees, who are also the directors of NEWVOL 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.

The trustees are responsible for the maintenance and integrity of the charity 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.

 

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF NEWVOL
- 10 -

Opinion

We have audited the financial statements of NEWVOL (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

-

sufficient accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; or

-

we have not received all the information and explanations we require for our audit.

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF NEWVOL
- 11 -
Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

 

As part of audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Morgans BA ACA (Senior Statutory Auditor)
for and on behalf of Sage & Company Business Advisors Ltd
29 August 2024
Chartered Accountants
Statutory Auditor
102 Bowen Court
St Asaph Business Park
St Asaph
Denbighshire
LL17 0JE

Sage & Company Business Advisors Ltd is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
Unrestricted
Unrestricted
Restricted
Total
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
funds
general

designated

general

designated

2024
2024
2024
2024
2023
2023
2023
2023
Notes
£
£
£
£
£
£
£
£
Income from:
Donations and legacies
6
210,719
500
1,096,500
1,307,719
194,279
29,266
571,106
794,651
Charitable activities
3
16,640
-
950
17,590
11,236
1,514
-
12,750
Other trading activities
4
-
433
-
433
-
7,865
(53)
7,812
Investments
5
2,000
-
-
2,000
382
-
-
382
Total income
229,359
933
1,097,450
1,327,742
205,897
38,645
571,053
815,595
Expenditure on:
Raising funds
7
9,712
-
-
9,712
23,412
-
-
23,412
Charitable activities
8
188,816
1,425
1,097,611
1,287,852
202,036
37,614
595,176
834,826
Total expenditure
198,528
1,425
1,097,611
1,297,564
225,448
37,614
595,176
858,238
Net incoming/(outgoing) resources before transfers
30,831
(492)
(161)
30,178
(19,551)
1,031
(24,123)
(42,643)
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
Unrestricted
Restricted
Total
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
funds
funds
funds
general

designated

general

designated

2024
2024
2024
2024
2023
2023
2023
2023
Notes
£
£
£
£
£
£
£
£
- 13 -
Net incoming/(outgoing) resources before transfers
30,831
(492)
(161)
30,178
(19,551)
1,031
(24,123)
(42,643)
Gross transfers between funds
14
14,184
-
(14,184)
-
39,539
-
(39,539)
-
Net income/(expenditure) for the year/
Net movement in funds
45,015
(492)
(14,345)
30,178
19,988
1,031
(63,662)
(42,643)
Fund balances at 1 April 2023
433,596
1,031
71,707
506,334
413,608
-
135,369
548,977
Fund balances at 31 March 2024
478,611
539
57,362
536,512
433,596
1,031
71,707
506,334

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.
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
31 March 2024
- 14 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
16
1,200
1,800
Property, plant and equipment
15
32,405
40,101
33,605
41,901
Current assets
Trade and other receivables
17
54,427
105,889
Cash at bank and in hand
471,399
392,086
525,826
497,975
Current liabilities
18
(17,697)
(25,709)
Net current assets
508,129
472,266
Total assets less current liabilities
541,734
514,167
Non-current liabilities
19
(5,222)
(7,833)
Net assets
536,512
506,334
Income funds
Restricted funds
21
57,362
71,707
Unrestricted funds - general
Designated funds
22
539
1,031
General unrestricted funds
478,611
433,596
479,150
434,627
536,512
506,334
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 15 -

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.

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 29 August 2024
S Wilson
Trustee
Company registration number 3132487
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
78,729
73,344
Investing activities
Purchase of property, plant and equipment
(1,416)
(9,133)
Investment income received
2,000
382
Net cash generated from/(used in) investing activities
584
(8,751)
Net cash used in financing activities
-
-
Net increase in cash and cash equivalents
79,313
64,593
Cash and cash equivalents at beginning of year
392,087
327,494
Cash and cash equivalents at end of year
471,401
392,087
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 17 -
1
Accounting policies
Charity information

NEWVOL is a private company limited by guarantee incorporated in England and Wales. The registered office is Naylor Leyland Centre, Well Street, Ruthin, LL15 1AF.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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.

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 subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income

Income generated from charitable activities is recognised upon receipt. Investment, membership and other income are recognised on an accruals basis. Income is deferred only when income is received in advance at the year end and the performance criteria relates to a future accounting period.

In accordance with the Charities SORP (FRS 102), the economic contribution of volunteers is not recognised in the financial statements. Further details of the contribution made by volunteers can be found in the Trustees Report.

1.5
Expenditure
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 18 -

Expenditure on charitable activities is recognised once there is a legal or constructive obligation committing charity to the expenditure. Contractual arrangements are recognised as goods and services are supplied. Expenditure is classified under the following activity headings:

 

- Expenditure on charitable activities includes all activities undertaken to further the purposes of the charity and their associated support costs.

 

- Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

 

- Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources; this is done on the basis of staff time attributed to each activity cost category.

 

1.6
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website
Straight line over 4 years
1.7
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Straight line over 7 years
Computers
Straight line over 3 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.

1.8
Impairment of non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
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.

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 19 -
1.10
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.

Basic financial assets

Basic financial assets, which include trade and other receivables 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 trade and other payables 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.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall 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.

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 20 -
3
Charitable activities
General Activities
General Activities
2024
2023
£
£

Management fee

-
1,514
Other income
17,590
11,236
17,590
12,750
Analysis by fund
Unrestricted funds - general
16,640
11,236
Unrestricted funds - designated
-
1,514
Restricted funds
950
-
17,590
12,750
4
Other trading activities
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds

designated

designated

2024
2023
2023
2023
£
£
£
£
Letting and licensing arrangements
433
7,865
(53)
7,812
5
Investments
Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Interest receivable
2,000
382
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 21 -
6
Donations and legacies
Unrestricted
Unrestricted
Restricted
Total
Total
funds
funds
funds
2024
2023
general

designated

£
£
£
£
£
Donations and gifts
-
500
-
500
-

Grants receivable

210,719
-
1,096,500
1,307,219
794,651
210,719
500
1,096,500
1,307,719
794,651
For the year ended 31 March 2023
194,279
29,266
571,106
794,651
Donations and gifts
Other
-
500
-
500
-
-
500
-
500
-
Grants receivable for core activities
WCVA
200,052
-
6,650
206,702
190,463
Denbighshire CC
10,668
-
283,735
294,403
397,936
Betsi Cadwaladr
-
-
40,456
40,456
40,663
Cadwyn Clwyd
-
-
-
-
126,007
Foodsense Wales
-
-
-
-
7,500
Market Hall
-
-
-
-
29,266
Albert Gubay Foundation
-
-
23,373
23,373
-
Gwynedd CC
-
-
742,286
742,286
-
210,720
-
1,096,500
1,307,220
791,835
7
Raising funds
Unrestricted
Unrestricted
funds
funds
general
general
2024
2023
£
£
Trading costs
Depreciation and impairment
9,712
23,412
9,712
23,412
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
8
Charitable activities
2024
2023
£
£
Staff costs
266,744
228,251
Staff travelling expenses
3,113
3,842
Printing, stationery & photocopying
1,175
647
Computer running expenses
7,620
5,143
Office cleaning
-
137
Telephone
2,552
1,660
Advertising/promotion
3,939
14,880
Insurance
1,500
1,230
Rent & premises
10,444
8,064
Subscriptions
237
182
Translation
1,862
1,203
Maintenance & repairs
5,490
12,439
Professional fees
4,969
4,164
Meeting/training/seminar expenses
11,954
2,755
Trustee expenses
63
58
Bad debt write off
780
Ruthin Market Hall Project disposal
-
34,177
Project costs
37,095
249,043
358,757
568,655
Grant funding of activities (see note 10)
786,728
151,044
Share of support costs
131,735
107,357
Share of governance costs
9,030
7,770
1,287,852
834,826
Analysis by fund
Unrestricted funds - general
188,816
Unrestricted funds - designated
1,425
Restricted funds
1,097,611
1,287,852
For the year ended 31 March 2023
Unrestricted funds - general
202,036
Unrestricted funds - designated
37,614
Restricted funds
595,176
834,826
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 23 -
9
Trustees

Expenses totalling £28.99 (2023 - £1,259.96) were reimbursed to 1 (2023 - 1) trustees.

 

None of the trustees (or any persons connected with them) received any other remuneration or benefits from the charity during the year.

10
Grants payable
2024
2023
£
£
Grants to individuals (sorted by project):
Gwirvol Youth
7,804
4,960
Shared Prosperity Fund
578,874
-
DCC Volunatary Organisations
130,976
-
Welsh Churches
5,291
9,534
Age Friendly Nation
-
33,240
Croeso Cynnes
-
38,793
Warm Hubs
-
34,558
RIF DAC
40,804
7,010
Loneliness & Social Isolation
22,727
22,727
Lottery Young Dragons
252
-
Winter Pressures
-
222
786,728
151,044

During the year, Denbighshire Voluntary Services Council was given the task of distributing grant monies on behalf of other organisations, as detailed above. The monies received for distribution is not income of Denbighshire Voluntary Services Council. A management charge was levied to the relevant organisation for this service.

11
Employees

The average monthly number of employees/DVSC associates during the year was:

2024
2023
Number
Number
10
8
Employment costs
2024
2023
£
£
Wages and salaries
304,654
240,904
Other pension costs
22,696
18,083
327,350
258,987
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11
Employees
(Continued)
- 24 -

DVSC also has 35 (2023 - 32) regular volunteers, including the trustees.

There were no employees whose annual remuneration was more than £60,000.
12
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.

13
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£
Staff costs
86,538
-
86,538
68,348
-
68,348

Accountancy fees

8,527
-
8,527
9,253
-
9,253

Book-keeping fees

5,720
-
5,720
3,707
-
3,707

Bank charges

146
-
146
192
-
192

Other support costs

30,804
-
30,804
25,857
-
25,857

Audit and accountancy fees

-
9,030
9,030
-
7,770
7,770
131,735
9,030
140,765
107,356
7,770
115,127
Analysed between
Charitable activities
131,735
9,030
140,765
107,357
7,770
115,127

Governance costs includes payments to the auditors of £9,030 (2023 - £7,770) for audit and accountancy fees.

14
Transfers

Transfers relate to the transfer of fixed assets and the management fee from each restricted fund to the unrestricted, core fund.

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 25 -
15
Property, plant and equipment
Leasehold improvements
Computers
Total
£
£
£
Cost
At 1 April 2023
63,780
14,871
78,651
Additions
-
1,416
1,416
At 31 March 2024
63,780
16,287
80,067
Depreciation and impairment
At 1 April 2023
25,469
13,081
38,550
Depreciation charged in the year
9,112
-
9,112
At 31 March 2024
34,581
13,081
47,662
Carrying amount
At 31 March 2024
29,199
3,206
32,405
At 31 March 2023
38,311
1,790
40,101

 

16
Intangible fixed assets
Website
£
Cost
At 1 April 2023 and 31 March 2024
2,400
Amortisation and impairment
At 1 April 2023
600
Amortisation charged for the year
600
At 31 March 2024
1,200
Carrying amount
At 31 March 2024
1,200
At 31 March 2023
1,800
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 26 -
17
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
24,699
100,928
Prepayments and accrued income
29,728
4,961
54,427
105,889
18
Current liabilities
2024
2023
Notes
£
£
Other taxation and social security
(3,279)
(5,000)
Government grants
20
7,609
16,651
Trade payables
1,554
2,670
Other payables
1,776
1,284
Accruals and deferred income
10,037
10,104
17,697
25,709

 

19
Non-current liabilities
2024
2023
Notes
£
£
Government grants
20
5,222
7,833
20
Government grants
2024
2023
£
£
Deferred income is included within:
Current liabilities
7,609
16,651
Non-current liabilities
5,222
7,833
12,831
24,484
Movements in the year:
Deferred income at 1 April 2023
24,484
71,586
Released from previous periods
(840,148)
(61,142)
Resources deferred in the year
828,495
14,040
Deferred income at 31 March 2024
12,831
24,484
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 27 -
21
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 2022
Incoming resources
Resources expended
Transfers
Balance at
1 April 2023
Incoming resources
Resources expended
Transfers
Balance at
31 March 2024
£
£
£
£
£
£
£
£
£
Welsh Churches
4,047
11,000
(9,534)
-
5,513
9,443
(5,290)
-
9,666
Loneliness & Social Isolation
-
22,727
(22,727)
-
-
22,727
(22,727)
-
-
Gwirvol Youth
1,494
6,650
(4,960)
(1,240)
1,944
6,650
(7,804)
(790)
-
Lottery Young Dragons
504
-
-
-
504
-
(252)
-
252
Winter Pressures
132
(222)
90
-
-
-
-
-
BCU Health & Wellbeing
14,431
39,663
(35,916)
(3,966)
14,212
41,405
(39,005)
(2,700)
13,912
RIF DAC
19,234
120,589
(123,385)
(10,963)
5,475
120,589
(117,991)
(8,073)
-
Age Friendly Nation
-
33,240
(33,240)
-
-
-
-
-
-
Foundation Economy
287
-
-
-
287
-
-
(287)
-
Food For Life
5,097
7,500
(4,717)
-
7,880
-
-
-
7,880
British Science Association
500
-
500
-
-
-
500
Community Facilities
1,249
-
-
-
1,249
-
-
-
1,249
Albert Gubay Foundation
-
-
-
-
-
23,373
(23,373)
-
-
DCC Voluntary Organisations
-
-
-
-
-
130,976
(128,642)
(2,334)
-
RIF Small Grants
-
124,423
(124,423)
-
-
-
-
-
-
Croeso Cynnes
-
43,793
(38,793)
(5,000)
-
-
-
-
-
Warm Hubs
-
35,514
(34,558)
(956)
-
-
-
-
-
CRF Project
8,370
126,007
(116,873)
(17,504)
-
-
-
-
-
ICF Capital
24
-
24
-
-
-
24
Social Supermarket
80,000
(45,881)
-
34,119
-
(11,252)
-
22,867
Shared Prosperity Fund
-
-
-
-
-
742,287
(741,275)
-
1,012
135,369
571,106
(595,229)
(39,539)
71,707
1,097,450
(1,097,611)
(14,184)
57,362
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
21
Restricted funds
(Continued)
- 28 -

Welsh Church Acts – Provision of grant funding for community groups in Denbighshire under the themes of: Relating to or based in church run premises, Dementia, loneliness and isolation, Promoting wellbeing (Being aware, Connecting, Exercising, Learning, Giving Back) and Supporting people with learning disabilities.

Loneliness & Social Isolation - DVSC worked in partnership with Denbighshire County Council and Welsh Government to make available this grant scheme linked to the Welsh Government’s strategy for tackling loneliness and social isolation and building stronger social connections.

Gwirvol Youth – This made grants around the provision of youth led volunteering projects and activities in Denbighshire under the themes of: Early Years, Better Mental Health, Housing, Skills and Employability and Social Care.

Lottery Young Dragons – this funding assisted the creation of a new steering group and improving the networking opportunities across for Wales for the involvement of young people.

BCU Health & WellbeingThe overall objective of our longstanding partnership with the Health Board is to facilitate effective working practices and relationships with Third Sector organisations as part of the health and wellbeing agenda, specifically promoting Third Sector services to those working in health, social care and wellbeing.

RIF DAC (Dementia Aware Community Led Programme) - Enabled through Welsh Government funding (formerly ICF, now RIF) to support communities to generate and transfer awareness around dementia into community led action.

Age Friendly Nation - DVSC worked in partnership with Denbighshire County Council and Welsh Government to make available this grant scheme, helping Denbighshire to work towards membership of the WHO’s Global Network of Age Friendly Cities and Communities. 

Foundational Economy - Welsh Government funded programme based around social enterprise development and set up, that supported the development of the Ruthin Market Hall project.

Food For Life - this was a 3-year funded programme where DVSC was awarded funding as a Local Partner in the Food for Life Programme.

British Science Association – we had funding to run a series of science themed workshops as part of our Open Doors programme.

Community Facilities This funding helped us to redecorate the interior and exterior of the Naylor Leyland Centre.

Winter Pressures Fund – This grant programme from Welsh Government via WCVA supported Third Sector organisations working locally and was for between £500 - £5,000. Projects were invited to apply under the following priorities: Mental health, Physical health, Fuel poverty, Community Transport and Food security.

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
21
Restricted funds
(Continued)
- 29 -

Regional Integration Fund Small Grants Scheme - The scheme is funded by the Regional Integration Fund (RIF) in 2022/23, as a preventative programme aimed at integrating health and social care, and supports projects which complement the “Right Care, Right Place, First Time – Six Goals for Urgent and Emergency Care” policy handbook.

Croeso Cynnes - DVSC is working with Denbighshire County Council to distribute available funding from the UK Shared Prosperity Fund in Denbighshire. The funding will provide additional support to Warm Hubs projects to further support people at risk of fuel poverty and the ongoing cost of living crisis. The venues are intended as locations in the local community where people can find a safe, warm and welcoming environment during the day, to expand capacity to welcome people in, and to provide additional activities.

Warm Hubs - The Welsh Government have made £1m available across Wales to support Warm Welcome/​ Warm Hubs type projects to support people at risk of fuel poverty in winter 2022/ 2023. DVSC is working with Denbighshire County Council to distribute the share for Denbighshire. This fund is aimed at supporting locally based third sector organisations who are engaging in the Croeso Cynnes/​ Warm Welcome initiative this winter, in Denbighshire. The grant supports Third Sector organisations to expand their capacity to welcome people in, and to provide additional activities.

Community Renewal Fund - This project is a partnership approach between Cadwyn Clwyd and Denbighshire Voluntary Services Council (DVSC). The 'Historic to Future' Market Place is piloting an innovative community marketplace, reducing food waste, in a sustainable model based on the Circular and Foundational economies, with the outcome of creating a Market based wellbeing social enterprise based at Ruthin Market Hall.

ICF Capital – We had funding for weighted blankets to distribute throughout Denbighshire at the Winter Wellbeing Events. We have had requests for support from adults and children living with sensory over responsivity including those with ADHD, those living with dementia, individuals living with a psychiatric disorders and those on the autistic spectrum who have been told of the benefits of using a weighted blanket.

Social Supermarket - DVSC is one of the founding partners of Cogog, the Denbighshire social supermarket project, in partnership with Denbighshire County Council, Betsi Cadwaldr Health Board, South Denbighshire Community Partnership, and others.  As well as managing a fund made available by Betsi Cadwaladr University Health Board to deliver projects, DVSC has helped develop a waste food based ready meal service in the South of the county as well as deliver cookery classes for parents and children in Ruthin, and develop the Community Fridge in the Ruthin Market Hall.

Albert Gubay Foundation - A school social enterprise project running over a 2 year period.

Shared Prosperity Fund- A project to support organisational sustainability within the third sector in Denbighshire.

DCC Voluntary Organisations - DVSC worked with Denbighshire County Council to modernise and manage an existing grant programme for 3rd sector organisations mainly delivering social care.

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 30 -
22
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:
Movement in funds
Movement in funds
Incoming resources
Resources expended
Balance at
1 April 2023
Incoming resources
Resources expended
Balance at
31 March 2024
£
£
£
£
£
£
Market Hall
38,645
(37,614)
1,031
933
(1,425)
539
38,645
(37,614)
1,031
933
(1,425)
539

In 2020 an arrangement was entered into with Denbighshire County Council to repurpose Ruthin Market Hall as a social enterprise market and event space. Through the support of a Community Renewal Fund (CRF), in partnership with Cadwyn Clwyd, the project was successfully completed and in December 2022 was spun out to Ruthin Artisans Markets CIC to manage. Whilst standing back from the daily operations of the venture the Trust will continue to monitor the future activities to ensure they remain consistent with the objectives as agreed with Denbighshire County Council.

 

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 31 -
23
Analysis of net assets between funds

Core

Designated funds
Restricted funds
Total

Core

Designated funds
Restricted funds
Total
2024
2024
2024
2024
2023
2023
2023
2023
£
£
£
£
£
£
£
£
Fund balances at 31 March 2024 are represented by:
Intangible fixed assets
1,200
-
-
1,200
1,800
-
-
1,800
Property, plant and equipment
32,405
-
-
32,405
40,101
-
-
40,101
Current assets/(liabilities)
449,943
539
57,649
508,131
399,529
1,031
71,707
472,267
Long term liabilities
(5,222)
-
-
(5,222)
(7,833)
-
-
(7,833)
478,326
539
57,649
536,514
433,597
1,031
71,707
506,335
NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 32 -
24
Retirement benefit schemes
Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £22,696 (2023 - £18,083).

25
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

As restated
2024
2023
£
£
Aggregate compensation
56,492
51,128
Transactions with related parties

The following related party transactions took place during the year:

 

 

Book of You CIC: current Chief Officer was a director until 5 April 2022, and their partner was a Director

Payments of £17,263 (2023: £4,879), and receipts of £80 (2023 £nil).

 

 

NEWCIS: current Trustee was a director.

Payments of £42,717 (2023: £168), and receipts of £192 (2023: £nil).

 

 

The Willow Collection CIC: current employee was a director until 7 February 2023.

Payments of £27,865 (2023: £6,469).

 

 

All transactions took place at arms length.

 

 

The following balances due from related parties were outstanding at the year end:

£nil (2023: £72) from NEWCIS, of which a Trustee was a director.

 

 

 

 

 

 

NEWVOL
OPERATING AS DENBIGHSHIRE VOLUNTARY SERVICES COUNCIL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 33 -
26
Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
5,500
5,500
Between two and five years
9,625
15,125
15,125
20,625

 

27
Auditors Ethical Standards

The relevant circumstances requiring disclosure in accordance with the requirements of APB Ethical Standard - Provisions Available for Small Entities are that, in common with many charities of our size and nature, we use our auditors to assist with the preparation of the accounts.

28
Cash generated from operations
2024
2023
£
£
Surplus/(deficit) for the year
30,178
(42,643)
Adjustments for:
Investment income recognised in statement of financial activities
(2,000)
(382)
Depreciation and impairment of property, plant and equipment
9,712
86,854
Movements in working capital:
Decrease in trade and other receivables
51,462
88,161
Increase/(decrease) in trade and other payables
1,030
(11,544)
(Decrease) in deferred income
(11,653)
(47,102)
Cash generated from operations
78,729
73,344
29
Analysis of changes in net funds

The charity had no debt during the year.

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