REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 March 2024 |
Page |
Report of the Trustees | 1 | to | 10 |
Independent Examiner's Report | 11 |
Statement of Financial Activities | 12 |
Balance Sheet | 13 | to | 14 |
Notes to the Financial Statements | 15 | to | 22 |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 March 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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). |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
The objectives of the organisation are: |
"...to promote any charitable purpose for the benefit of the public in Bedfordshire by the provision of assistance and training to charities or for the furtherance of exclusively charitable purposes, in: the formulation of applications for funding or other assistance, the identification of potential funders or partners, information about sources of funding or collaborators and by such other means as the trustees shall decide." |
The key activities for the year are set out in the strategic review, focusing on 6 areas of work: |
- Funding and Financial Sustainability - ensuring the VCSE sector has access to appropriate funding, and is more resilient in the face of changing circumstances. |
- People - supporting the people - whether they are volunteers, employees or trustees - across the VCSE sector. |
- Communities - enabling local communities to effect social action, both individually and collectively. |
- Partnerships - the VCSE sector working together effectively, and with statutory and private sector partners. |
- Environment - catalyse the VCSE sector in delivering measurable progress to carbon neutrality. |
- Impact - ensuring that the VCSE sector is able to demonstrate the difference it makes to local communities and the county. |
Significant activities |
The key activities carried out to achieve these objective included: |
- funding and development support to local voluntary and community sector organisations, including charities and social enterprises; |
- volunteering guidance and signposting for local people who are interested in volunteering, matching them with local volunteer-involving organisations; |
- training courses and workshops aimed at trustees, staff and volunteers of voluntary and community sector organisations, providing them with the skills and knowledge required to become more effective and efficient; |
- regular mailings, newsletters, social media posts and a website providing advice and information pertinent to the local voluntary and community sector; |
- affordable meeting rooms, office space and equipment hire for the local voluntary and community sector. |
The organisation is indebted to a number of volunteers who provide administrative and management support throughout the year. The cost of employing staff to undertake these duties would be in excess of £5,000. |
Public benefit |
In carrying out the activities, which are explained in more detail on the following pages of this annual report, the organisation provided public benefit by enabling the local voluntary sector to contribute to people and society through improved: |
- governance and public trust; meeting high standards of conduct and behaviour |
- participation in local communities and their ability to connect with, and establish links between local people |
- expertise they provide in their area and in how to deliver for the public |
- ability to speak out and provide a voice for the most vulnerable |
- access to volunteers and funding which in turn improves the sustainability of the services they provide. |
The trustees have complied with their duty to have due regard to the Charity Commission's public benefit guidance in setting the charity's objectives and planning its aims, objectives and future activities and when exercising any powers or duties to which the guidance is relevant. |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
Review of the Year |
This report has been set out using the main themes of the new strategic plan, which was agreed by the trustees in the summer of 2023, following a series of meetings and discussions with beneficiaries, stakeholders and staff. Many of the actions are interdependent of each other. |
Funding and Financial Sustainability |
Ensuring the VCSE sector has access to appropriate funding, and is more resilient in the face of changing circumstances. |
The Funding and Development Service responded to over 300 requests for advice and support from local Voluntary, Community and Social Enterprise (VCSE) organisations, on a range of issues including funding sources and strategies, charity and social enterprise registrations, legal structures, safeguarding, and volunteer management. |
'X has awarded £2,500 towards our toilets refurbishment project. Thank you again for your help and advice last month during development of the application.' |
'a BIG thank you for the intensive support to get X over the line to win a £500k core funding grant over 5 years. |
'a huge thank you from the trustees. The feedback on your training was very positive and trustees voted that they want to explore a new governance structure.' |
'As a result of you being able to point us in the right direction, I am happy to report that we now have a bank account for our little social club set up and running! I have been able to deposit monies etc. so all is good.' |
Staff organised numerous opportunities for organisations to meet potential funders. The Online Funding Fayre in March 2024 gave organisations access to 21 local and national funders. The local funders sessions saw between 17 and 53 local VCSE organisations attending each time. Four further 'Meet the Funder' events were organised during the year, giving organisations the opportunity to discuss potential applications. |
Time was also invested in developing and maintaining a range of online resources on helpful topics such as full cost recovery, developing a reserves policy, and a list of local funders. |
CVS operates 43 Bromham Road as a shared building, offering office space and meeting space for the local VCSE sector, thanks to the support of The Harpur Trust. The building has now returned to normality following COVID-19, with meeting rooms being used by over 25 organisations, and 8 tenant organisations plus CVS using all available office space. A detailed programme of external repairs, to keep the building in good condition, was undertaken in March 2024. |
The building provides a practical solution to the issue of office and meeting space, but is also a facility that allows different VCSE organisations to network, share, develop better working partnerships, creating a sense of 'community' between organisations working for the benefit of local communities. |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
People |
Supporting the people - whether they are volunteers, employees or trustees - across the VCSE sector. |
Staff delivered a Volunteering Brokerage and Outreach Service during the year. A public list of volunteering opportunities is maintained, to provide potential volunteers with a broad range of volunteering opportunities (approximately 300). |
Staff attended numerous events across the county, promoting volunteering and raising awareness of volunteering. Almost 700 people formally registered to volunteer, with many more being inspired to contact an organisation directly. The service provides one-to-one support for those that need a little assistance with getting into volunteering. Over the year, over 50 people needed some additional support to help them move into volunteering (and sometimes employment), which can often involve a number of meetings and discussions, but can be life-changing. |
"A" is Polish national who has been in the UK for about 10 years. She was a walk in who wanted to use her skills around mental health and particularly suicide (she is in her second year of a counselling course). She became quite noticeably upset as we were talking and it transpired that a friend of hers had just committed suicide. We talked through her feelings and how she might be able to help other people who were having similar thoughts. |
Over the next few months "A" dropped into see me for advice and to discuss plans around volunteering to gain experience. I found a role with a local homeless charity that supports individuals who are struggling with mental health. She went on to do their inhouse training and volunteered with them. A part-time paid position came up and I am pleased to say that "A" got the job! |
17 training workshops, attended by 128 staff and volunteers working in local VCSE organisations, were delivered throughout the year on a number of key topics, including Safeguarding Awareness, Outcomes and Impact, Fit for Funding, and Trustee Skills. During 2023/24 we extended our training offer by offering more courses across the county, and we responded where capacity allowed to deliver on a commissioned basis. The feedback from delegates is very positive, and often leads to ongoing support. We also partnered with a local company to offer 4 affordable First Aid at Work courses, which have proved very popular. |
The Bedfordshire Trustees Network was established in November, to give those responsible for the governance of VCSE organisations a new opportunity to network and share experiences and knowledge. 51 people came together, with 5 detailed case studies used to focus discussions and build relationships. Specific events are planned for 2024 based on the feedback from network members. |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
Communities |
Enabling local communities to effect social action, both individually and collectively. |
Ensuring that local communities are more aware of the support that CVS can offer, should they wish to volunteer or start a local group, is a priority. Social media is playing a major part in promoting the work of CVS, and the work of the wider sector. Local newspapers and online sites have been used to promote the work of CVS, especially volunteering opportunities. Meeting with organisations face-to-face continues to be a very effective method of promoting our service, and enhancing our reputation. |
The weekly Email Update is a major part of our plan to reach as many organisations and communities as possible. Over the year we have gradually increase the circulation list, with over 1,500 local organisations and contacts now receiving useful information on funding opportunities, local vacancies, networking opportunities, and other relevant news and updates. Work will continue to extend the reach of the newsletter, which receives great feedback from readers. A monthly volunteering newsletter also ensures that new and existing volunteers are aware of our services and the various opportunities available to them. |
Steps have been undertaken during the year to refresh the data we hold on local VCSE organisations, in preparation for a significant upgrade to the online directory during 2024. One of the most frequent requests received by staff is for a list of VCSE organisations. |
CVS also continued to host the Big Local initiative for the Cauldwell and Kingsbrook area of Bedford, supporting a partnership of local people to invest over £1 million in the local area over a 10-year period. |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
Communities |
Enabling local communities to effect social action, both individually and collectively. |
Ensuring that local communities are more aware of the support that CVS can offer, should they wish to volunteer or start a local group, is a priority. Social media is playing a major part in promoting the work of CVS, and the work of the wider sector. Local newspapers and online sites have been used to promote the work of CVS, especially volunteering opportunities. Meeting with organisations face-to-face continues to be a very effective method of promoting our service, and enhancing our reputation. |
The weekly Email Update is a major part of our plan to reach as many organisations and communities as possible. Over the year we have gradually increase the circulation list, with over 1,500 local organisations and contacts now receiving useful information on funding opportunities, local vacancies, networking opportunities, and other relevant news and updates. Work will continue to extend the reach of the newsletter, which receives great feedback from readers. A monthly volunteering newsletter also ensures that new and existing volunteers are aware of our services and the various opportunities available to them. |
Steps have been undertaken during the year to refresh the data we hold on local VCSE organisations, in preparation for a significant upgrade to the online directory during 2024. One of the most frequent requests received by staff is for a list of VCSE organisations. |
CVS also continued to host the Big Local initiative for the Cauldwell and Kingsbrook area of Bedford, supporting a partnership of local people to invest over £1 million in the local area over a 10-year period. |
Partnerships |
The VCSE sector working together effectively, and with statutory and private sector partners. |
A key of role of CVS is to facilitate partnership working within the sector, and with other sectors. Two new networks have been developed over the year, alongside supporting numerous existing partnerships. |
A Comms Network brings together those organisations with a communications lead to share information and co-ordinate publicity about the work of the local VCS sector. A Volunteer Co-ordinators Network is now meeting regularly to share good practice on recruiting and managing volunteers. |
A Food Providers Network in Bedford was established to improve partnership working and reduce duplication across the Foodbanks, community larders, social supermarkets and other agencies involved in food provision. Over 15 organisations are now working closer together to improve the impact they have. |
A directory of partnerships was established, to assist organisations to link up with relevant networks and meetings. The directory will be promoted and developed over the next year. |
CVS has also continued to be involved in the relatively new health and social care structures that cover Bedfordshire and Milton Keynes, working to connect local VCSE organisations, with the Integrated Care Board and other parts of a complex health system. |
Bedfordshire Advice Forum and the VOCypf network (for those working with children, young people and families), continue to be facilitated by CVS staff. CVS also continues to support Bedford Homeless Partnership and Luton Homeless Partnership. |
Staff are involved in a number of other networks and partnerships, including the Luton Fairness Taskforce, Central Bedfordshire's Cost of Living Network, the Bedford Borough Community Network, the local ESOL providers network, the Bedford Borough Ukrainian Partnership, and a number of other opportunities where it is important for the VCSE voice and experience to be heard. |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 March 2024 |
ACHIEVEMENT AND PERFORMANCE |
Environment |
Catalyse the VCSE sector in delivering measurable progress to carbon neutral. |
The past year has been spent understanding how CVS should best respond to the climate change agenda, developing better links with other agencies working in this field, and establishing how to best support the wider VCSE sector. |
It is clear that that all VCSE organisations will not be able to achieve their objectives if they do not also act to respond to the climate crisis. |
Staff have been developing resources for VCSE organisations to use, which will be rolled out in 2024. CVS is also developing a number of 'challenges' to encourage staff to change how the organisation operates and move towards net zero. |
Impact |
Ensuring that the VCSE sector is able to demonstrate the difference it makes to local communities and the county. |
The trustees are determined to demonstrate the impact that the charity has, and support other VCSE organisations to do the same. The development of a new strategic plan, the progress of which is reported on at every board meeting, has provided a greater focus, and has assisted with the conversation on how best to evidence our impact. |
Staff have improved the evidence collecting methods during the year, with an emphasis on capturing feedback from organisations and volunteers that have been supported. This has allowed for better quality reports to funders, improved case studies for promotion via social media, and greater reassurance to trustees. |
"We've been getting on really well as an unincorporated association and wanted to say thank you for helping us set it up. Thanks so much for your guidance, it definitely made a difference." |
"We found you very professional and knowledgeable in terms of the subject matter and process of registering a CIC, a credit to your organisation!" |
"The public benefit table helped a lot, I believe because it was really clear how we work so they had no questions. Thank you so much for all of your support so far. Everyone agrees that your contribution has made a real difference" |
A 'Stats of the Sector' document was produced in 2023, which sets out the approximate size of the local VCSE sector in Bedfordshire, (almost 3,000 organisations), providing a starting point for any conversation about what the local VCSE sector looks like, and how diverse the sector is. The document will be updated every year. |
Plans for Future Periods |
The key activities for the future are set out in the strategic review, focusing on 6 areas of work: |
- Funding and Financial Sustainability - ensuring the VCSE sector has access to appropriate funding, and is more resilient in the face of changing circumstances. |
- People - supporting the people - whether they are volunteers, employees or trustees - across the VCSE sector. |
- Communities - enabling local communities to effect social action, both individually and collectively. |
- Partnerships - the VCSE sector working together effectively, and with statutory and private sector partners. |
- Environment - catalyse the VCSE sector in delivering measurable progress to carbon neutrality. |
- Impact - ensuring that the VCSE sector is able to demonstrate the difference it makes to local communities and the county. |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 March 2024 |
FINANCIAL REVIEW |
Financial position |
The organisation remains in a healthy financial position. Total incoming resources for the year were £493,046 (2023 - £444,208) and total resources expended were £509,919 (2023 - £451,896). |
The organisation made a deficit for the year of £16,873) (2023 - £7,688). |
The cost of staffing and utilities remain high due to the cost of living crisis affecting the country. Whilst income from meeting room and office space usage remained high, other sources of funding have not increased in line with the increase in costs, and this remains a concern for the trustees. A number of repairs were also undertaken on 43 Bromham Road, with funds being released from reserves as required. |
The organisation has a number of principal sources of funding, as outlined in the accounts. The trustees are keen to hold a portfolio of funders, rather than build dependency on one or two, in order to reduce the risk to the organisation's existence should a funder withdraw or fail to renew its support. The vast majority of the funding that the organisation receives is of a short-term nature, sometimes for projects lasting less than six months, providing little long-term security for the staff team. |
Bedford Borough Council and Central Bedfordshire Council continued to provide essential support to allow the |
organisation to offer funding advice, development support and provide some representation for the sector at key |
meetings. |
The Harpur Trust's on-going support in providing a full-repairing peppercorn lease for 43 Bromham Road is crucial to the organisation's financial position, and during the past year the Trust once again agreed to match-fund the award from Bedford Borough Council, providing significant additional resources for CVS. |
Luton Rising (London Luton Airport Ltd) funding relating to CVS's work in Luton (via Bedfordshire and Luton |
Community Foundation) has now become a significant element of the organisation's income. |
CVS acts as the accountable body for a BIG Local partnership in the Kingsbrook and Cauldwell area of Bedford. |
Funding relating to the BIG Local initiative has been received from the BIG Lottery Fund and subsequently BIG Local Trust and held under restricted funds. |
CVS is also the accountable body for the Bedford Homeless Partnership. Funding raised by the Partnership and Soupfest is given to the Partnership to distribute in small grants. Both funds are treated as restricted funds. |
CVS also acts as the accountable body for the Voluntary Organisations Consortium for Children, Young People and Families (VOCypf). Funds from the two local authorities are held on behalf of VOC under restricted funds. |
Funding for Bedfordshire Advice Forum and Luton Homeless Partnership are also held as restricted funds. |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 March 2024 |
FINANCIAL REVIEW |
Reserves policy |
The CVS reserves policy includes provision for holding a long-term, full-repairing lease for 43 Bromham Road, and is kept under review on an annual basis. |
At the year end, unrestricted reserves amounted to £312,720 (2023 - £331,427). These reserves are designated as detailed below and in note 10 of the accounts. |
General Purpose Reserves |
The trustees have set a level equivalent to two months of full operating costs for the organisation as a desired level of reserve. This fund is a contingency in the event of a sudden reduction in income, in order to protect the future operation of the organisation from the effects of any unforeseen variation in its income and expenditure. It also provides a cash flow for grants and contracts that are paid in arrears. |
Designated Reserves |
The trustees have designated reserves where there are planned commitments that cannot be met by anticipated future income alone. These reserves are broken down into a number of funds that mainly relate to: |
- The organisation's responsibilities as an employer to hold sufficient funds to provide proper notice and redundancy costs in the event of closure |
- The organisation's responsibilities as a tenant. Whilst CVS pays a peppercorn rent for use of 43 Bromham Road until 2032, CVS also has full-repairing responsibilities until 2032, during which period the building will require major refurbishment and repair. It is the trustees' intention to build a capital improvement fund over the next few years to meet future repair and refurbishment commitments |
- The organisation's responsibilities as a head landlord, leasing offices to other charities and voluntary organisations at 43 Bromham Road. In the event of closure or near closure, funds are held to keep the building running for twelve months until other arrangements can be made and the lease surrendered |
The reserves policy and the levels of reserves required are reviewed yearly as part of the annual budgetary process. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Community Voluntary Service Bedfordshire was established under Memorandum and Articles of Association on 30th October 2001. The Memorandum and Articles of Association were amended on 15th June 2006 and 25th June 2016 due to name changes. The organisation is registered as a charity with the Charity Commission (registered charity number 1091423) and as a Company Limited by Guarantee with Companies House (registered company number 04312967). |
Recruitment and appointment of new trustees |
The trustees of the organisation are either connected with local voluntary organisations in a paid, voluntary or trustee capacity, and/or they provide the organisation with specialist knowledge and skills relating to accounting, legal issues, human resources, local government or similar. |
The organisation actively seeks local people with an interest in and connection with the local voluntary and community sector to become a trustee throughout the year. The trustees have the power to co-opt new trustees throughout the year. |
Bedford Borough Council and Central Bedfordshire Council are each entitled to nominate a non-voting representative to attend and participate in trustees' meetings. |
Induction and training of new trustees |
There is no formal trustee induction programme but each new trustee undergoes a half-day induction session to brief them on the structure and operation of the organisation, to provide them with and explain key documents and policies, to meet key staff and to discuss any training requirements. |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 March 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Wider network |
The organisation works closely with a number of other charities in Bedfordshire. We continue to work closely with Community Action Milton Keynes, supporting the sector to engage with the Integrated Care System (ICS) that covers both our respective areas of benefit. Community Action Milton Keynes hosts a Partnership Officer on behalf of both organisations to improve the voluntary sector's voice within the ICS. |
Risk management |
The financial risks to the organisation are considered by the trustees and the Chief Officer on a regular basis through strenuous budgeting and regular management accounts. The trustees have considered the risks faced by the charity and have taken steps to mitigate those risks. A key component of this is the reserves policy which was extensively reviewed last year, and continues to provide a sensible platform for all financial planning for the organisation. |
The Finance and Premises sub-committee, meeting at least quarterly, provides additional oversight and scrutiny to the finances of the organisation, especially regarding the lease of 43 Bromham Road and the associated costs of running a building. |
With regards to the non-financial risks, a detailed health and safety policy is in place with a nominated lead, and a strong business continuity plan exists should it be necessary. Key staff also undertake relevant training relating to first aid and fire safety as required. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
Company Secretary |
Independent Examiner |
Gerald Bygraves |
GB Accounting Solutions Limited |
Building 115 |
Bedford Technology Park |
Thurleigh |
Bedford |
Bedfordshire |
MK44 2YA |
Approved by order of the board of trustees on |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 March 2024 |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
Independent examiner's report to the trustees of Community Voluntary Service Bedfordshire ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). |
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. |
Independent examiner's statement |
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Accounting Technicians, which is one of the listed bodies. |
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: |
1. | accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or |
4. | the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). |
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. |
Gerald Bygraves |
GB Accounting Solutions Limited |
Building 115 |
Bedford Technology Park |
Thurleigh |
Bedford |
Bedfordshire |
MK44 2YA |
25 September 2024 |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and other income |
Charitable activities |
Bedford Borough Council | 45,000 | - | 45,000 | 45,000 |
Other activities | 2 |
Investment income | 3 |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Support costs | 229,632 | 275,002 | 504,634 | 446,611 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 385,277 |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
BALANCE SHEET |
31 March 2024 |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 10 |
Unrestricted funds | 331,427 |
Restricted funds | 53,850 |
TOTAL FUNDS | 385,277 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE (REGISTERED NUMBER: 04312967) |
BALANCE SHEET - continued |
31 March 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 March 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings | - |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 March 2024 |
2. | OTHER ACTIVITIES |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Office and meeting room hire | 92,494 | - | 92,494 | 88,530 |
3. | INVESTMENT INCOME |
31.3.24 | 31.3.23 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
£ | £ | £ | £ |
Deposit account interest | 10,700 | - |
4. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
5. | STAFF COSTS |
The average monthly number of employees during the year was as follows: |
31.3.24 | 31.3.23 |
Administration | 2 | 2 |
Support | 7 | 8 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and other income |
Charitable activities |
Bedford Borough Council | 45,000 | - | 45,000 |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 March 2024 |
6. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
Other activities |
Investment income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Support costs | 196,383 | 250,228 | 446,611 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 325,293 | 67,672 |
TOTAL FUNDS CARRIED FORWARD | 331,427 | 53,850 | 385,277 |
7. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 April 2023 and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 March 2024 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Prepayments |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Accrued expenses |
10. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1/4/23 | in funds | funds | 31/3/24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 80,307 | (35,617 | ) | 25,000 | 69,690 |
Designated Funds | 245,172 | - | (25,000 | ) | 220,172 |
Big Change Luton | 5,241 | 16,910 | - | 22,151 |
Coffee Pot | 707 | - | - | 707 |
(18,707 | ) |
Restricted funds |
Big Local | 5,340 | 28,992 | - | 34,332 |
VOC | 23,338 | (4,084 | ) | - | 19,254 |
Bedfordshire Advice Forum | 1,597 | 222 | - | 1,819 |
Central Bedfordshire Council | 7,684 | (7,673 | ) | - | 11 |
LLAL | - | (8,628 | ) | - | (8,628 | ) |
Bedford Homeless | 13,284 | (6,787 | ) | - | 6,497 |
BBO Storage | 2,607 | (208 | ) | - | 2,399 |
1,834 |
TOTAL FUNDS | (16,873 | ) | 368,404 |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 March 2024 |
10. | MOVEMENT IN FUNDS - continued |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 193,540 | (229,157 | ) | (35,617 | ) |
Big Change Luton | 22,670 | (5,760 | ) | 16,910 |
( |
) | (18,707 | ) |
Restricted funds |
Big Local | 148,210 | (119,218 | ) | 28,992 |
VOC | 20,000 | (24,084 | ) | (4,084 | ) |
Bedfordshire Advice Forum | 1,256 | (1,034 | ) | 222 |
Central Bedfordshire Council | 43,665 | (51,338 | ) | (7,673 | ) |
LLAL | 56,650 | (65,278 | ) | (8,628 | ) |
Bedford Homeless | 7,055 | (13,842 | ) | (6,787 | ) |
BBO Storage | - | (208 | ) | (208 | ) |
( |
) | 1,834 |
TOTAL FUNDS | ( |
) | (16,873 | ) |
Comparatives for movement in funds |
Net |
movement | At |
At 1/4/22 | in funds | 31/3/23 |
£ | £ | £ |
Unrestricted funds |
General fund | 72,294 | 8,013 | 80,307 |
Designated Funds | 245,172 | - | 245,172 |
Big Change Luton | 7,120 | (1,879 | ) | 5,241 |
Coffee Pot | 707 | - | 707 |
325,293 | 6,134 | 331,427 |
Restricted funds |
Big Local | 33,079 | (27,739 | ) | 5,340 |
VOC | 20,715 | 2,623 | 23,338 |
Bedfordshire Advice Forum | 2,032 | (435 | ) | 1,597 |
Central Bedfordshire Council | - | 7,684 | 7,684 |
Homeless Partnership | 857 | (857 | ) | - |
Bedford Homeless | 8,176 | 5,108 | 13,284 |
BBO Storage | 2,813 | (206 | ) | 2,607 |
67,672 | (13,822 | ) | 53,850 |
TOTAL FUNDS | 392,965 | (7,688 | ) | 385,277 |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 March 2024 |
10. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 205,603 | (197,590 | ) | 8,013 |
Big Change Luton | 2,199 | (4,078 | ) | (1,879 | ) |
207,802 | (201,668 | ) | 6,134 |
Restricted funds |
Big Local | 86,694 | (114,433 | ) | (27,739 | ) |
VOC | 20,000 | (17,377 | ) | 2,623 |
Bedfordshire Advice Forum | 1,370 | (1,805 | ) | (435 | ) |
Central Bedfordshire Council | 53,665 | (45,981 | ) | 7,684 |
LLAL | 66,600 | (66,600 | ) | - |
Homeless Partnership | - | (857 | ) | (857 | ) |
Bedford Homeless | 8,077 | (2,969 | ) | 5,108 |
BBO Storage | - | (206 | ) | (206 | ) |
236,406 | (250,228 | ) | (13,822 | ) |
TOTAL FUNDS | 444,208 | (451,896 | ) | (7,688 | ) |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1/4/22 | in funds | funds | 31/3/24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 72,294 | (27,604 | ) | 25,000 | 69,690 |
Designated Funds | 245,172 | - | (25,000 | ) | 220,172 |
Big Change Luton | 7,120 | 15,031 | - | 22,151 |
Coffee Pot | 707 | - | - | 707 |
325,293 | (12,573 | ) | - | 312,720 |
Restricted funds |
Big Local | 33,079 | 1,253 | - | 34,332 |
VOC | 20,715 | (1,461 | ) | - | 19,254 |
Bedfordshire Advice Forum | 2,032 | (213 | ) | - | 1,819 |
Central Bedfordshire Council | - | 11 | - | 11 |
LLAL | - | (8,628 | ) | - | (8,628 | ) |
Homeless Partnership | 857 | (857 | ) | - | - |
Bedford Homeless | 8,176 | (1,679 | ) | - | 6,497 |
BBO Storage | 2,813 | (414 | ) | - | 2,399 |
67,672 | (11,988 | ) | - | 55,684 |
TOTAL FUNDS | 392,965 | (24,561 | ) | - | 368,404 |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 March 2024 |
10. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 399,143 | (426,747 | ) | (27,604 | ) |
Big Change Luton | 24,869 | (9,838 | ) | 15,031 |
424,012 | (436,585 | ) | (12,573 | ) |
Restricted funds |
Big Local | 234,904 | (233,651 | ) | 1,253 |
VOC | 40,000 | (41,461 | ) | (1,461 | ) |
Bedfordshire Advice Forum | 2,626 | (2,839 | ) | (213 | ) |
Central Bedfordshire Council | 97,330 | (97,319 | ) | 11 |
LLAL | 123,250 | (131,878 | ) | (8,628 | ) |
Homeless Partnership | - | (857 | ) | (857 | ) |
Bedford Homeless | 15,132 | (16,811 | ) | (1,679 | ) |
BBO Storage | - | (414 | ) | (414 | ) |
513,242 | (525,230 | ) | (11,988 | ) |
TOTAL FUNDS | 937,254 | (961,815 | ) | (24,561 | ) |
Designated Funds |
Opening Balance |
Additional Resources |
Released Resources |
Transfer between funds |
Closing Balance |
Salaries Reserve | 47,000 | 0 | 0 | 47,000 |
Redundancy Reserve | 95,000 | 0 | 0 | 95,000 |
Premises Reserve - General | 10,000 | 0 | 0 | 10,000 |
Premises Reserve - Capital Improvements |
83,172 |
25,000 |
0 |
58,172 |
Asset Replacement | 10,000 | 0 | 0 | 10,000 |
Total | 245,172 | 0 | 25,000 | 0 | 220,172 |
General Purpose Fund: | Funds to provide cash flow and meet unforeseen expenses. Based on approximately three months of annual turnover. |
Designated Funds: |
Salaries Reserve | Two months salaries and employers NI contributions |
Redundancy Reserve | Redundancy liabilities and required notice period based on statutory minimum payments for all staff |
Premises Reserve - General | 12 months running costs for 43 Bromham Road in the event of closure to provide security for existing users and fulfil lease obligations |
Premises Reserve - Capital | Funds to maintain, repair and improve 43 Bromham Road as a result of holding a full-repairing lease |
Asset Replacement | Provision to replace IT and furniture as required |
COMMUNITY VOLUNTARY SERVICE BEDFORDSHIRE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 March 2024 |
11. | RELATED PARTY DISCLOSURES |