REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
South Derbyshire CVS |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
Report of the Trustees and |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
South Derbyshire CVS |
South Derbyshire CVS |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Reference and Administrative Details | 1 |
Chairman's Report | 2 |
Report of the Trustees | 3 | to | 12 |
Report of the Independent Auditors | 13 | to | 14 |
Statement of Financial Activities | 15 |
Balance Sheet | 16 |
Cash Flow Statement | 17 |
Notes to the Cash Flow Statement | 18 |
Notes to the Financial Statements | 19 | to | 30 |
South Derbyshire CVS |
Reference and Administrative Details |
for the Year Ended 31 March 2024 |
TRUSTEES |
REGISTERED OFFICE |
REGISTERED COMPANY NUMBER |
REGISTERED CHARITY NUMBER |
AUDITORS |
Statutory Auditors |
Chartered Accountants & Business Advisers |
Alexandra House |
43 Alexandra St |
Nottingham |
Nottinghamshire |
NG5 1AY |
SOLICITORS | Ellis-Fermor & Negus |
2 Devonshire Ave |
Beeston |
Nottingham |
NG9 1BS |
BANKERS | Unity Trust Bank PLC |
9 Brindley Place |
Birmingham |
B1 2HB |
South Derbyshire CVS |
Chairman's Report |
for the Year Ended 31 March 2024 |
The chair presents her statement for the year. |
Last year, I reported to you that we had appointed a new Chief Executive Officer Hollie Benton. I am pleased to report that Hollie has settled well into the role and the charity has continued to thrive under her leadership. This has not been an easy year, demand for our services remains high and many of our service users continue to face challenges within their lives, which we as a charity endeavour to ease, where possible, and to support where we can. |
The foodbank is an excellent example of how we support the local community, and we remain extremely grateful to all of the individuals who give of their time and their donations to support the essential work of this service. |
This year though has seen a significant development in the services we provide to support people within their own homes. We believe that working with partners we are one of the essential services that help to prevent people inappropriately going into hospital or indeed support people to come home sooner. We now provide services across the whole of Derbyshire, and into Nottinghamshire supporting discharge in the Royal Derby Hospital, Queens Hospital Burton in Staffordshire, Chesterfield Hospital and Kings Mill Hospital. Many of our services are interlinked, which ensures a holistic approach to supporting the vulnerable within their own homes. None of this would be possible without the support of the partner organisations and dedicated staff, and of course, most importantly our volunteers who give their time selflessly. As we move into the second part of this year, we will be looking to expand the services we provide and will be looking for likeminded partners to either support or to lead on service provision within Derbyshire, but also bordering counties. |
This year has seen the leadership team and the Board of Trustees working even closer together on our agreed strategy. The charity continues to listen to the needs of our commissioners and to understand the significant financial challenges that face them as we go forward. All of our discussions take into account the immense challenges that are faced by all in these very difficult and changing times. We have continued to work through our subcommittees on our governance arrangements including significant improvements in our reporting systems for both financial performance and the quality and impact of our services. The expertise and the commitment of the Trustees in supporting the leadership team and our staff has grown this year when we meet in committee and at the Board, we now have a high level of confidence in the information and data that we are receiving. This is all down to the Trustees who give of their time to support our excellent leadership team. I would like to take this opportunity to thank the whole Board for the work they do and the impact that they have on our local and wider community. |
Finally, I would like to again thank all of our staff, the leadership team and our wonderful volunteers for their hard work and commitment to the users of our services. Without you none of this would happen, you really do make a difference. |
H M Scott-South |
Chair |
South Derbyshire CVS (Registered number: 04958843) |
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 |
a. Policies and objectives |
The charity's objects, as defined in its governing document, are: |
o to promote any charitable purposes for the benefit of the community, in particular but not exclusively in the local government area of South Derbyshire and the advancement of education, the advancement, promotion and protection of health and the relief of poverty, distress and sickness; |
o to promote and organise co operation in the achievement of the above purposes and to that end to bring together in council representatives of the voluntary organisations and statutory authorities within the area of benefit. |
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. |
b. Strategies for achieving objectives. |
The charity has a strategic plan, agreed by its Board of Directors, which sets out its vision, aims and priorities, and outlines planned activity to achieve these aims. |
Our vision is for healthy, connected, thriving communities. |
SDCVS is committed to improving health and wellbeing outcomes by: |
o Supporting individuals to live well, learn & retain independence. |
o Helping to empower communities to feel heard and to create sustainable change, through volunteering & partnerships |
o Place-based working to ensure that the voluntary sector remains at the heart of the community |
c. Activities undertaken to achieve objectives |
The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives, and have complied with the Charities Act 2011. |
Our activities deliver the public benefit requirement in the following ways: |
Our first charitable object has two main beneficiaries: individuals who use our direct services; and voluntary and community groups (and, indirectly, their beneficiaries). |
South Derbyshire CVS (Registered number: 04958843) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
Through the services we directly provide to individual beneficiaries, we relieve poverty, distress and ill health, advance education, improve health outcomes, and/or deliver other charitable purposes. For example: |
o The Food Bank provides immediate relief to individuals and families, in times of crisis, who are experiencing food poverty, as well as helping them access support for the underlying causes; |
o Safer Homes and our handy Person Service secure the homes of vulnerable people who are at risk or who have been victims of crime; |
o Active Travel and other practical help services such as shopping and social car support the continued independence, quality of life and wellbeing of older people and those experiencing poor health, limited mobility or disability; |
o Befriending services and groups tackle social isolation among older and vulnerable people, which is proven to impact on mental and physical wellbeing and quality of life; |
o Training provided through our Aim Awards Centre for voluntary and community groups and volunteers, provides opportunities for both accredited and informal learning and development. |
o Services such as the Home from Hospital Service and the Mental Wellbeing Support Team, aim to provide low level & preventive support in order to preserve health and ensure that service users feel informed and able to make choices about their health, such as awareness of local groups and services that they can access. |
We benefit a wider range of beneficiaries through our support to local voluntary and community groups, volunteering and an asset based community development approach to working with local communities. Through this area of activity: |
o We support the development of new community activities, volunteering activity, services and groups, (including the formation and registration of new charities) ensuring a diverse cross section of the community are able to benefit from their activities; |
o We provide training, information, guidance and support to voluntary and community organisations, as well as recruiting volunteers and facilitating collaboration and peer support, so that other organisations operate effectively and provide quality services to their beneficiaries; |
o We refer and signpost people to, and if necessary support them to access, other voluntary and community groups and other services, so that they benefit from a wider range of community based support. |
o We facilitate a Time Bank scheme in many of the districts across Derbyshire. The project entitled Derbyshire TimeSwap, aims to facilitate community connection through the currency of time, empowering individuals and organisations to exchange skills they may have, in a flexible and accessible way. |
Through delivery of our second charitable object (to promote and organise co operation) there is a wider benefit, enabling voluntary and community organisations working across the whole range of charitable objects to inform and influence the development and delivery of public services. |
Eligibility for some services may be limited to, or priority given to, a defined group of people (e.g., those of a certain age, disability, or financial circumstances or those living in a particular geographical area). This might be a condition of funding and/or because the purpose of the service is to mitigate a disadvantage experienced by that particular group. Other than this, services are offered in line with our equality and diversity policy to all eligible sectors of the community. |
Most of our services to individuals and voluntary organisations are free or subsidised. We actively encourage the contribution of volunteers who freely give their time to support and deliver activities. We recognise that inability to pay can be a barrier to those in most need of services. Where we do need to charge for services, because they are not otherwise funded, charges are kept at the minimum needed to cover our delivery costs. |
The public benefits identified above are evidenced through: |
o Reports on performance/levels of service which measure the number of beneficiaries supported and number and nature of interventions provided; |
o Feedback from individual service users including evaluation of personal outcomes/benefits, impact and quality of service; |
o Feedback from local voluntary and community organisations including outcomes of our interventions/support/services, impact on their work, and quality of service. |
We have not identified any private benefits other than those incidental to the furtherance of our charitable purposes. Nor have we identified any harm arising from our purposes. |
South Derbyshire CVS (Registered number: 04958843) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
STRATEGIC REPORT |
Achievement and performance |
Demand on the Foodbank continued to increase during this period, undoubtedly due to the UK's sustained increased living costs. The Food Bank demand continues to increase steadily each year. |
We continue to be supported by generous donations of food, funds, and other seasonal items & our thanks go to residents, businesses, community groups, schools, faith-based organisations, clubs & parish councils, all of whom contributed. We are fortunate to have many regular supporters from all walks of life and would like to thank the local businesses who pledged to support us during this period. |
Thanks also goes to our local supermarkets who continue to provide invaluable support both through collecting and making donations as well as their in-house community roles who we work closely with to run donation generating events. |
Individuals and families referred to us receive a supply of basic food, appropriate to their needs which typically lasts up to three days. Where possible we try to provide food suited to circumstances as well as dietary needs. |
Our Food Bank provision is supported by an experienced team of Volunteers who provide a high-quality service and ensure that service users can access this with dignity. Where donations allowed, we were able to provide families with seasonal extras such as chocolate selection boxes over the festive December period and specialist donations such as slow cookers, has allowed us to support those living in accommodation without cooking facilities for example. |
We typically expect to see higher demand in the winter months, which was the case, however the level and complexity of need was comparable to 2022/23, and in partnership with other organisations, we have been able to support many people experiencing distress, living in difficult circumstances. |
During this period, the Food Bank supported a total of 2,667 people. 1,567 of those were adults and 1,100 children. A total of 1,217 food parcels were issued, 595 Single parcels and 716 Family parcels. The number of meals clients were able to cook with the food we provided equates to approximately 24,003 meals. |
Additional support available to food bank clients, has continued in partnership with Citizens Advice Mid-Mercia. This co-located service, provided timely advice to those in distress, focused on improving financial outcomes relating to benefit entitlement and review of energy costs. |
The Safer Homes service was delivered across South Derbyshire and Erewash, which offered home safety checks, reassurance & advice together with the installation of safety measures such as window locks and door chains. |
This service is provided to older and vulnerable residents, who may at risk of, or who have unfortunately been the victim of crime. |
During the period a total of 611 safety visits were made, 363 in South Derbyshire and 252 in Erewash. |
Our Handy Person service continued to support South Derbyshire residents working closely with the Safer Homes Team. |
The Handy Person Support service is available to eligible private sector owners who have a vulnerability, helping them to retain their independence at own home, prevent hospital admission and support timely hospital discharge. |
Our Handy Person Operative supplies and fits a range of free physical adaptions and low-level improvements such as; |
1. Installation of grab rails and other aids |
2. Installation of key safes |
3. Minor home repairs |
4. Eliminating fall risks (carpet trips, changing light bulbs, fixing curtain poles/tracks, putting up shelves and pictures etc.) |
The service is service-user led, with an advisory role on hand to offer information alongside the practical support provided. This might include for example, referrals to Befriending Services, signposting to the CAB for benefit entitlement or access to local social activities. We are delighted to be able to continue delivering this service until 2026. |
In this period, we carried out 452 Operative visits and 120 Support visits a Total of 572 visits, to people ranging in age from 28-99 years. |
215 rails were fitted and 16 outside ramps were built to allow easier access to properties. |
299 key safes were fitted during this time, which we know can provide peace of mind as well as enabling timely Hospital discharge. |
South Derbyshire CVS (Registered number: 04958843) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
We were very pleased to continue delivering the Active Travel service together with our delivery partners of Connex and Ashbourne Community Transport. The service provides transport for people in South Derbyshire and Derbyshire Dales, supporting them to access medical appointments at GP surgeries and Hospitals as well as ensuring that people have access to prescriptions and essential shopping items. This service is delivered in the main by volunteer drivers using their own vehicles, with a local transport provider being on hand for those people who need a wheelchair accessible vehicle. |
The service enabled 2242 journeys to take place; |
o 1,532 medical appointments |
o 46 medication collections |
o 284 shopping deliveries |
The transport offer also included accessible transport to Swadlincote High street, with 108 journeys being provided. Our 'Connect Befriending' service continued to offer vital support to people experiencing loneliness and isolation, through a blended offer of telephone calls and home visits. This all-age adult's service is delivered by specially trained volunteers. |
The service has supported 62 individuals with 28 being provided with home visits and 34 receiving telephone support. 58 volunteers have enabled this to happen, and we are pleased to report 13 new volunteers were recruited. |
Support isn't just limited to the volunteer interactions, with the Befriending Coordinator ensuring that onward referrals are made for those individuals with other support needs. The support is provided for as long as the befriendee needs. |
It's very clear that the impact of isolation contributes to poorer health outcomes, both physically and mentally, and we continue to showcase the value of this service to our partners. |
In 2023, this service opted to undertake a quality assurance exercise and we were delighted to have given a Quality in Befriending kitemark, offering greater assurance to those who use our services, their family and carers as well as our amazing volunteers. |
The Mental Wellbeing Support Team became an established part of our organisation in this period and continue to offer vital support to South Derbyshire residents experiencing challenges with their mental health. This is provided through weekly group sessions as well as on a one-to-one basis. |
173 people were supported with 98 of them being new referrals. |
Over 800 calls were made to and on behalf of service users. |
208 one-to-one appointments and home visits were made, with 275 onward referrals & signposting. |
The Home from Hospital service, a county wide provision offering preventative and proactive support to those at risk of being admitted to Hospital or who are due to be discharged from Hospital, has gone from strength to strength in this period. SDCVS lead this contract and deliver this important service in partnership with other VCSE organisations across the county. |
The support we offer includes: |
o Undertaking shopping & collecting prescriptions |
o Making sure the home environment is warm and safe with a layout to support any new equipment entering the home. |
o Arranging for key safes to be fitted and community alarm or telecare systems to be provided if needed |
o Supporting people to manage their bills and appointments |
o Increasing access to community activities to help people feel connected to their communities |
o Empowering people to understand care options and plan what they need for the future |
o Signposting to other statutory, voluntary sector and community organisations as appropriate. |
In this period, 1,114 referrals would made to the service across the county. Home from Hospital volunteers supported 84 service users giving 371 hours of their time. |
We were delighted to secure the Home from Hospital contract for a second time in this period, which means we can continue building on this success until 2027. |
The Derbyshire Time Swap service was officially launched in April 2023 and this period has seen the team gaining traction with securing new time swap members as well as resuming swap activity within the existing membership. This service is a huge asset to our Organisation, the sector, and the residents of Derbyshire. |
Locally based time swap officers have developed community relationships in order to understand the unique challenges of each area as well as the opportunities. |
In this period, 48 new organisational members joined the scheme, and 130 new individual members were recruited. |
South Derbyshire CVS (Registered number: 04958843) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
1,230 exchanges took place with 3,132 hours swapped. |
Our Community Development Team has continued delivering expert infrastructure support, to existing voluntary and community groups as well as helping new groups to set up and develop. This support includes governance, and sourcing funding. |
Our focus has been on building community resilience and ensuring that the variances between different areas such as those more rural villages for example, are understood. |
We support place-based methodology seen in partner sectors and our aim is for communities who feel empowered to help themselves, but who are also well informed and know when statutory support is required and how to access this. |
The team provide workshops and training, undertake research and act as conduit for a vast exchange of information across the sector within South Derbyshire, championing the VCSE sector within strategic conversations and local forums. |
The team have a vast range of skills, with specialisms in social connectedness, funding, community development and volunteer force management. |
Achievements during this period: |
o 1008 Interactions took place with support being provided to 259 different groups |
o 12 funding e-bulletins were issued across the year with our combined mailing list for bulletins now totalling over 900 contacts. |
o 12 funding workshops were delivered |
o 15 community forums were organised. |
o Our 'Community Connectors' project continued to provide information on health and wellbeing related services and information. The network currently has 48 Community Connectors and continues to grow. We recruited 19 new connectors this year but unfortunately lost a few due to different circumstances including roles changes. The network is recognised and celebrated within South Derbyshire CVS representing a real community collaboration and way of sharing information with residents of South Derbyshire. We produced 12 Health and Wellbeing Bulletins We have had 11 Information Sessions including: Hearing Help UK, Neurodevelopmental Community Hub, STAND TO, Derbyshire Fire and Rescue Service, Beyond Barriers and Green Doctor. |
o Connect South Derbyshire aims to work with community groups and individuals to improve social connections. Being connected socially decreases feelings of loneliness and isolation and improves health and wellbeing. On average each month over 300 people benefit from the work done through Social connectiveness, and 18 groups are supported. |
o We were involved in 65 events, and the value of in-person conversation and connection is once which we are pleased to have sustained, with a carefully managed approach in winter months. |
o In partnership with South Derbyshire District Council, we helped to deliver a live music event 'Swad Live' contributing to Swadlincote's aim to be a vibrant and attractive visitor destination, complementing existing attractions/events and in doing so bring more people into the town centre. 500 people attended the event in August 2023. |
o The distribution of South Derbyshire Small Grants Funding is offered to small voluntary/community organisations in South Derbyshire. This funding aims to improve health & wellbeing and improve mental health & wellbeing. 9 groups received funding during this period. |
We continued our role of managing South Derbyshire Volunteer Force, working hard to retain and support our existing volunteers as well as recruiting new volunteers. As mentioned, we have developed corporate volunteering relationships with several organisations and are keen to develop further in 2024/25. |
123 volunteers supported the delivery of our services, contributing 10,520 hours. |
We received over 100 expressions of interest of which over 60% were placed into voluntary sector roles. We placed 86 corporate volunteers in with 7 community organisations or groups to complete community projects amounting to over 500 hours of time volunteered. |
We secured funding from DCC for a pilot project around engaging young people aged 16-24 in Youth Social Action through volunteering - as part of this we delivered inspiring assemblies around the impact and benefits of volunteering to over 110 Year 12 pupils at The Pingle Academy. |
We were pleased to host a successful volunteer celebration event seeing awards for outstanding contribution and long service. The event was attended by over 50 volunteers as well as representatives from external charitable organisations and corporate supporters. |
The Volunteer fair 2023 (which coincided with Volunteer Week) was attended by 31 visitors with exhibitors from 12 local and national charitable organisations. |
South Derbyshire CVS (Registered number: 04958843) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
We hosted quarterly volunteer sector forums, with guest speakers from the Vision for Volunteering, Neurodiversity Hub on how to engage and support volunteers with neurodiverse needs, Hive Training Solutions on training and development of volunteers. |
Our committed staff team continues to work in a hybrid way, with 'The Hive' being a meeting point for service users on a 1:1 and group basis, partnership meetings and the location for Training & Development delivery. We provide room hire for other organisations for community work and training delivery. |
The food bank continues to operate from the Hive, providing service users an accessible yet discreet service and we have made several improvements to this area during the period. |
We have increased our workforce within this period, enabling us to deliver a wider range of services to more residents in South Derbyshire & beyond with ambitious plans for 2024/25. |
Financial review |
a. Going concern |
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing financial statements. |
b. Reserves policy |
The trustees set a reserves policy which requires: |
o Reserves be maintained at a level which ensures that South Derbyshire CVS (SDCVS) core activity could continue during a period of unforeseen economic difficulty. |
o A proportion of reserves be maintained in the annual cash flow of the charity for operational imperatives. |
o A proportion of reserves be maintained in the annual cash flow of the charity for strategic development, partnership development and growth opportunities. |
o Any reserves net of the above agreed values may be invested to generate capital but must be able to be drawn down within one operational month. |
The calculation of the required level of reserves is an integral part of the organisations planning, budget and forecast cycle. |
The Trustees have reviewed the possible costs of winding up and redundancies if CVS should fail. The total potential statutory redundancy pay liability is calculated at £73,841 based on current staffing levels, with anticipated winding up costs of £27,393, so a designated reserve of £101,234 is allocated for this eventuality. Unrestricted funds tied up in fixed assets and property sale of £11,619 and £265,413 respectively must also be ringfenced. |
After these funds have been designated accordingly, as shown in note 22, the Charity is left with free reserves of £127,683 at the balance sheet date (2023 - £123,301), which is less than the target set of £200k (3 months operational costs). |
SDCVS will aim to restore the reserves to between 25% - 30% of expenditure over the next four years. This could be achieved by increased fundraising, increasing earned income or reducing expenditure in line with positive operational management. The reserves policy will be reviewed annually in line with our budget and annual accounts. |
c. Principal funding |
The principal funding sources for the organisation are the Derbyshire ICB, South Derbyshire District Council and Derbyshire County Council. |
South Derbyshire CVS (Registered number: 04958843) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
STRATEGIC REPORT |
Future plans |
As the UK and Voluntary sector continues to face uncertainty with increased living costs and financial challenges in other sectors, South Derbyshire CVS will remain focussed on improving health outcomes and community connections. |
Continued pressures on Local Authorities, Health and Social Care services, continues to highlight the value and impact of the VCSE sector, as a responsive and proactive partner, well placed to build community resilience and reduce demand on statutory services |
Our focus will remain on offering preventive health and wellbeing services, supporting those experiencing food inequality, reducing loneliness and isolation, and promoting independence at home. We aim to expand the number of services we provide, in partnership with other VCSE organisations. |
The services we provide are reliant on our incredible Volunteer Force, who are an invaluable asset to our Organisation as well as the community. |
We are committed to our volunteers and to supporting and celebrating the impact they have. Our developments with corporate volunteering have demonstrated that volunteering can be accessible for a variety of organisations who have undertaken several community projects that we wouldn't have been able to support without the commitment of local businesses. |
It remains our aim to be a trusted provider of high quality, affordable training, for individuals, other VCSE organisations as well as the private sector. Provision of paid-for training will allow us to invest in services where we see fluctuating demand such as the Food Bank. It's also our goal to embed learning opportunities in the support we provide to individuals and groups, and we will continue to develop this approach in 2024/25 |
Our Community Development team play a vital role in the development of local groups and community based organisations, with sustained focus and energy being directed into the rural parts of South Derbyshire, and others who may be isolated in different ways such as those who may experience digital exclusion. The links between the work we do with the community in this way, as being the earliest opportunity to prevent isolation and ill health, will be championed in the year ahead. |
Our home, The Hive, based in the centre of Swadlincote, is developing into a multi-agency hub of activity and we aim to maximise use of the space we have available, not only to support partnership working but also to establish stronger links with local businesses and new services. |
We hold the highest standards for our organisation in terms of quality, compliance and governance. SDCVS will continue to be a strong voice for the sector, ensuring that the value of VCSE organisations is endorsed and that the insight we have, feeds into strategic decision making. |
We remain in very challenging times as a sector and of equal importance to service delivery and community impact, is the wellbeing and development of our staff and volunteers. We will work with partners across sectors for the benefit of our teams, to ensure that all feel valued and supported, with opportunity to grow and develop. |
South Derbyshire CVS (Registered number: 04958843) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
a. Constitution |
The charitable company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 10 November 2003 and registered as a charity on 12 January 2004 with registered charity number 1101450. The charity was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the charitable company being wound up, the members are required to contribute an amount not exceeding £1. |
b. Methods of appointment or election of Trustees |
The management of the charitable company is the responsibility of the Trustees who are elected and co opted under the terms of the Articles of Association. |
The directors of the company are also charity trustees for the purpose of charity law and under the Articles of Association are known as directors. Under the requirements of the Memorandum and Articles of Association one third of the directors must retire at each annual general meeting. They are eligible for re election. |
The organisation strives to ensure the diversity of its beneficiaries is reflected within the membership of the board and that directors have the relevant business and practical experience required. Recruitment of the directors is achieved by a variety of methods, including a direct approach, where the need for specific skills has been identified, to an invitation to members to nominate a candidate. |
c. Organisational structure and decision making policies. |
South Derbyshire CVS has a board of Trustees which can have up to 15 voting members. |
Some funders also nominate non voting representatives to attend Board meetings. The Board meets every two months and is responsible for the strategic direction and policy of the organisation. The organisation also operates finance & performance, human resources, and risk committees' that are subgroups of the Trustee Board. These groups meet every month or as required to deal with financial or human resource issues. The CEO attends meetings of these subcommittee groups but without voting rights. |
The day to day responsibility of running the organisation lies with the Chief Executive with a team of managers responsible for the delivery of specific services, including the line management of frontline staff and volunteers. |
The Finance and Admin Manager overseas the day-to-day financial operation. The Chief Executive is responsible for overseeing the staff development programme, and the achievement and maintenance of quality standards within the organisation, supported by the Head of Operations. The Community Development Manager is responsible for ensuring the delivery of CVS and Volunteer Centre core functions. The Direct Services Manager and Education & Training Manager have responsibly for their respective service areas. |
d. Policies adopted for the induction and training of Trustees. |
All new trustees receive an information pack containing: the Memorandum and Articles of Association, a role description, charity commission guidance on the roles and responsibilities of trustees and public benefit, an annual report and accounts, CVS services information pack, newsletter, and the organisation's strategic plan. They are invited to attend an induction training session which covers the history of CVS and its future plans, the roles and responsibilities of trustees and basic health and safety information. Trustees are also offered the opportunity to shadow members of staff, attend all internal training and development days and to join a sub committee of their choice. There is IT provision that enables trustees to access our suite of Policies. |
e. Related party relationships |
The organisation is an affiliated member of NAVCA (the National Association of Voluntary Community Associations). CVS agrees to provide services that cover the core areas of work. These are: Development, Representation, Liaison, Practical Support and Strategic Partnerships. |
The organisation observes best practice standards as set out by NCVO (National Council of Voluntary Organisations) and ensures that our Volunteer Centre service delivers all 5 core functions to a high standard. These are: Strategic Development of Volunteering, Good Practice Development, Developing Volunteering Opportunities, Voice of Volunteering and Brokerage. |
The organisation is a member of DDiA (Derby & Derbyshire Infrastructure Alliance), the Derbyshire Consortium of voluntary and community sector infrastructure organisations. Membership enables the organisation to collaborate with similar services at a county level and engage with national policy around the provision of infrastructure services. |
The Volunteer Centre is a member of Volunteer Centres Derbyshire, a subgroup of DDiA. Its remit is to maintain high standards of volunteer centre service delivery across the county and to work towards equitable delivery of service. |
South Derbyshire CVS (Registered number: 04958843) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
f. Financial risk management |
The Trustees have assessed the major risks to which the charitable company is exposed, in particular those related to the operations and finances of the charitable company and are satisfied that systems and procedures remain in place to mitigate our exposure to the major risks. |
The Senior Team has carried out a review of the risks to which the organisation is exposed. The risk register is updated and is brought to sub committees and Board meetings. Where appropriate, systems and procedures have been established to mitigate the risks faced by the organisation. The organisation has comprehensive financial management and operational manuals, which are reviewed annually and amended as required. All the services delivered by SDCVS operate within legal requirements as well as the requirements of statutory partners on matters of safeguarding children and vulnerable adults, confidentiality and the maintenance of client records. |
The organisation operates subgroups to manage its health and safety requirements and the review and production of policies. The groups are responsible for monitoring, reviewing and responding to risks on a regular basis and reporting to sub committees and the Board as appropriate. |
FUNDS HELD AS CUSTODIAN FOR OTHERS |
During the year, South Derbyshire CVS acted as Custodian Trustee for the organisations listed below. |
The income and expenditure is not included within the South Derbyshire CVS financial statements and the balances held at 31 March 2024 are carried in a separate bank account that is not reflected on the balance sheet. |
1 April 2023 Income Expenditure 31 March 2024 |
£ £ £ £ |
Miscellaneous - 13,018 12,240 (778) |
A gift for You 775 - 775 - |
Bereavement Cafe 26 - 26 - |
Bug's Lifeline 123 - 123 - |
Creative Collaborative 969 - 969 - |
Client funding 130 - 130 - |
CVS holding Account 356 1,530 1,886 - |
Dimand Befriending & Support 80 - 80 - |
Endometriosis 500 - 500 - |
Etwall Baby and Toddler Group 9 1,491 1,491 9 |
Etwall Walking Football Club 7 - 7 - |
Friends of Chrysanthemum Court 1 - 1 - |
Friends of Stenson Fields CCG 50 - 50 - |
Grow Outside CIC 1,565 - 1,565 - |
Hatton Bingo - 1,951 1,386 565 |
Ladies @ Craft 821 - 821 - |
LD Partnership Board 1,053 - 1,053 - |
Lullington Knit & Natter - 700 489 211 |
Memory Lane Social Activities 200 - 400 (200) |
Newhall Community Friends 500 - 500 - |
Newhall Litter Pickers - 75 75 - |
ShoutOut - 66 66 - |
Social Connectedness 18,461 2,659 12,065 9,055 |
Support fund - 8,043 - 8,043 |
St Martin in the Fields - 430 430 - |
Staff Collections 68 1,480 1,372 176 |
Stanton Messy Play 2,000 - - 2,000 |
Swad & Burton Natural Parents 246 - 246 - |
Swad & Burton FANS (56) 56 - - |
William Allitt Youth Group 933 2,398 3,331 - |
28,817 33,898 42,078 19,080 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of South Derbyshire CVS for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). |
South Derbyshire CVS (Registered number: 04958843) |
Report of the Trustees |
for the Year Ended 31 March 2024 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to |
- | select suitable accounting policies and then apply them consistently; |
- | observe the methods and principles in the Charity SORP; |
- | make judgements and estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. |
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
In so far as the trustees are aware: |
- | there is no relevant audit information of which the charitable company's auditors are unaware; and |
- | the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. |
AUDITORS |
The auditors, Wright Vigar Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on |
Report of the Independent Auditors to the Members of |
South Derbyshire CVS |
Opinion |
We have audited the financial statements of South Derbyshire CVS (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and 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 (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, including its income and expenditure, 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, 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 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. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Report of the Trustees has been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of trustees' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Report of the Independent Auditors to the Members of |
South Derbyshire CVS |
Responsibilities of trustees |
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes 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 charitable company'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. |
Our responsibilities for the audit of the financial statements |
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 a Report of the Independent Auditors 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. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. |
Our approach included obtaining an understanding of the legal and regulatory frameworks that are applicable to the company and we determined those that are most significant. Based on the results of our risk assessment we designed audit procedures to identify non-compliance with such laws and regulations. The specific procedures included enquiry of management and those charged with governance around actual and potential litigation and claims. |
In addition, and based on the results of our risk assessment we designed audit procedures to identify and address material misstatements in relation to fraud. Specifically we considered the risk of fraud through management override that may lead to a misappropriation of assets or inappropriate financial reporting. In response, we performed audit work over the risk of management override of controls, including testing journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. |
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. |
Use of our report |
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Statutory Auditors |
Chartered Accountants & Business Advisers |
43 Alexandra St |
Nottingham |
Nottinghamshire |
NG5 1AY |
South Derbyshire CVS |
Statement of Financial Activities |
for the Year Ended 31 March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 4 |
Charitable activities | 7 |
Other trading activities | 5 |
Investment income | 6 |
Other income |
Total |
EXPENDITURE ON |
Raising funds | 8 |
Charitable activities | 9 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Transfers between funds | 22 | (9,360 | ) | 9,360 | - | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 624,844 |
South Derbyshire CVS (Registered number: 04958843) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 18 |
CURRENT ASSETS |
Debtors | 19 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 20 | ( |
) | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 22 |
Unrestricted funds | 507,534 |
Restricted funds | 117,310 |
TOTAL FUNDS | 624,844 |
The financial statements were approved by the Board of Trustees and authorised for issue on |
South Derbyshire CVS |
Cash Flow Statement |
for the Year Ended 31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | (76,618 | ) | (127,953 | ) |
Net cash used in operating activities | (76,618 | ) | (127,953 | ) |
Cash flows from investing activities |
Purchase of tangible fixed assets | (95 | ) | (12,258 | ) |
Sale of tangible fixed assets | - | 335,000 |
Net cash (used in)/provided by investing activities | (95 | ) | 322,742 |
Change in cash and cash equivalents in the reporting period |
(76,713 |
) |
194,789 |
Cash and cash equivalents at the beginning of the reporting period |
711,715 |
516,926 |
Cash and cash equivalents at the end of the reporting period |
635,002 |
711,715 |
South Derbyshire CVS |
Notes to the Cash Flow Statement |
for the Year Ended 31 March 2024 |
1. | RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2024 | 2023 |
£ | £ |
Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) |
(31,837 |
) |
135,512 |
Adjustments for: |
Depreciation charges | 6,062 | 12,559 |
Profit on disposal of fixed assets | - | (234,168 | ) |
Decrease/(increase) in debtors | 51,347 | (55,414 | ) |
(Decrease)/increase in creditors | (102,190 | ) | 13,558 |
Net cash used in operations | (76,618 | ) | (127,953 | ) |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.4.23 | Cash flow | At 31.3.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 711,715 | (76,713 | ) | 635,002 |
711,715 | (76,713 | ) | 635,002 |
Total | 711,715 | (76,713 | ) | 635,002 |
South Derbyshire CVS |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | GENERAL INFORMATION |
South Derbyshire CVS is a private company limited by guarantee, incorporated in the United Kingdom and registered with the Charity Commission in England & Wales. Its registered office address and registered numbers are given on Page 1 of these financial statements. Its primary objective is to promote any charitable purposes for the benefit of the community, in particular, but not exclusively, in the local government district of South Derbyshire and the advancement of education, the advancement, promotion and protection of health and the relief of poverty, distress and sickness. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 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. |
South Derbyshire CVS meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. |
Going concern |
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured. |
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. |
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. |
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. |
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 classified by activity. The costs of each activity are made up of the total direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. |
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading. |
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Expenditure |
All expenditure is inclusive of irrecoverable VAT. |
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. |
Interest receivable |
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity. This is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. |
Intangible assets and amortisation |
Intangible assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. |
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
At each reporting date the charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to seel and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. |
Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life. |
Amortisation is provided on the following basis: |
Computer software - fully amortised |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. |
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. |
At each reporting date the charity assesses whether there is an indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of financial activities. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Fund accounting |
Designated funds comprise unrestricted funds that 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. The costs of raising and administering such funds are charged against the specific fund. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pensions |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. |
Debtors |
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. |
Cash at bank and in hand |
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
Operating leases |
Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the lease term. |
Liabilities |
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. |
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. |
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY |
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Critical accounting estimates and assumptions: |
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. |
Critical areas of judgment: |
Depreciation- Tangible fixed assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and vary depending on a number of factors. In re-assessing the asset lives, factors such as product life cycles and maintenance programmes are taken into account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values, plans to dispose of an asset before the previously expected date, changes in funding which impact on the future viability of schemes resulting in assets no longer required. |
4. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
In the year, £41,482 of donations (£2023: £55,726) was restricted income. The remaining £17,273 (2023: £45,719) was unrestricted income. |
5. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Fundraising events |
Amounts in 2024 and 2023 were wholly attributable to unrestricted funds. |
6. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Bank interest | 6,305 | 4 |
Amounts in 2024 and 2023 were wholly attributable to unrestricted funds. |
7. | INCOME FROM CHARITABLE ACTIVITIES |
2024 | 2023 |
Activity | £ | £ |
Voluntary sector support & services |
Voluntary Sector Support & Services |
1,166,714 |
1,004,485 |
In the year, £1,155,119 of income from charitable activities (2023: £988,966) was restricted income. The remaining £11,595 (2023: £15,519) was unrestricted income. |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
8. | RAISING FUNDS |
Other trading activities |
2024 | 2023 |
£ | £ |
Event costs |
Amounts in 2024 and 2023 were wholly attributable to unrestricted funds. |
9. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 11) | Totals |
£ | £ | £ |
Voluntary Sector Support & Services | 1,249,778 | 11,720 | 1,261,498 |
In the year, £1,236,213 of expenditure from charitable activities (2023: £1,038,653) was restricted. The remaining £25,285 (2023: £163,717) was unrestricted. |
10. | GRANTS PAYABLE |
2024 | 2023 |
£ | £ |
Voluntary Sector Support & Services | - | 14,298 |
11. | SUPPORT COSTS |
Governance |
costs |
£ |
Voluntary Sector Support & Services | 11,720 |
12. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Auditors' remuneration | 11,720 | 8,500 |
Depreciation - owned assets |
Surplus on disposal of fixed assets | ( |
) |
13. | 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. |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
14. | STAFF COSTS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
1,086,720 | 835,320 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Chief Executive | 1 | 1 |
Charitable Activities | 34 | 26 |
Administration and Support | 3 | 3 |
No employee received remuneration amounting to more than £60,000 in either year. |
15. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Charitable activities |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME |
Transfers between funds | (40,968 | ) | 40,968 | - |
Net movement in funds |
RECONCILIATION OF FUNDS |
Total funds brought forward | 419,029 | 70,303 |
TOTAL FUNDS CARRIED FORWARD | 507,534 | 117,310 | 624,844 |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
16. | TRUSTEES REMUNERATION AND EXPENSES |
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). |
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL). |
17. | INTANGIBLE FIXED ASSETS |
Computer |
software |
£ |
COST |
At 1 April 2023 and 31 March 2024 |
AMORTISATION |
At 1 April 2023 and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
18. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
19. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
20. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
2024 2023 |
Deferred income at April 2023 131,324 81,733 |
Resources deferred during the year 9,065 131,324 |
Amounts released from previous periods (131,324)(81,733) |
Deferred income at March 2024 9,065 131,324 |
Deferred income is held in respect of contracts for services where those services will be delivered in the following financial year. |
21. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
22. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1.4.23 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 123,301 | 13,837 | (9,455 | ) | 127,683 |
Fixed assets | 17,586 | (6,062 | ) | 95 | 11,619 |
Property sale | 265,413 | - | - | 265,413 |
Reserves policy | 101,234 | - | - | 101,234 |
7,775 | ( |
) |
Restricted funds |
Derbyshire County Council | 71,725 | (36,410 | ) | - | 35,315 |
South Derbyshire District Council (SDDC) | 18,044 | - | - | 18,044 |
National Lottery Community Fund | - | 6,565 | - | 6,565 |
Miscellaneous Funds | - | (9,360 | ) | 9,360 | - |
SDMHA - Mental Wellbeing | 27,541 | (407 | ) | - | 27,134 |
(39,612 | ) |
TOTAL FUNDS | (31,837 | ) | 593,007 |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
22. | 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 | 36,408 | (22,571 | ) | 13,837 |
Fixed assets | - | (6,062 | ) | (6,062 | ) |
( |
) | 7,775 |
Restricted funds |
Derbyshire County Council | 559,581 | (595,991 | ) | (36,410 | ) |
Derbyshire ICB | 228,690 | (228,690 | ) | - |
South Derbyshire District Council (SDDC) | 241,778 | (241,778 | ) | - |
Erewash Borough Council | 16,499 | (16,499 | ) | - |
National Lottery Community Fund | 24,256 | (17,691 | ) | 6,565 |
Foundation Derbyshire | 16,039 | (16,039 | ) | - |
Miscellaneous Funds | 35,534 | (44,894 | ) | (9,360 | ) |
SDMHA - Mental Wellbeing | 5,948 | (6,355 | ) | (407 | ) |
Other income | 12,276 | (12,276 | ) | - |
DCC Public Health | 56,000 | (56,000 | ) | - |
( |
) | (39,612 | ) |
TOTAL FUNDS | ( |
) | (31,837 | ) |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 168,310 | (22,549 | ) | (22,460 | ) | 123,301 |
Fixed assets | 118,719 | (12,559 | ) | (88,574 | ) | 17,586 |
Property sale | - | 164,581 | 100,832 | 265,413 |
Reserves policy | 132,000 | - | (30,766 | ) | 101,234 |
419,029 | 129,473 | (40,968 | ) | 507,534 |
Restricted funds |
Derbyshire County Council | 34,201 | (3,444 | ) | 40,968 | 71,725 |
South Derbyshire District Council (SDDC) | (7,376 | ) | 16,740 | 8,680 | 18,044 |
National Lottery Community Fund | 16,289 | (16,289 | ) | - | - |
Handy Person capital budget | 20,189 | (11,509 | ) | (8,680 | ) | - |
Capital grant fund | 7,000 | (7,000 | ) | - | - |
SDMHA - Mental Wellbeing | - | 27,541 | - | 27,541 |
70,303 | 6,039 | 40,968 | 117,310 |
TOTAL FUNDS | 489,332 | 135,512 | - | 624,844 |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
22. | 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 | 64,095 | (86,644 | ) | (22,549 | ) |
Fixed assets | - | (12,559 | ) | (12,559 | ) |
Property sale | 234,168 | (69,587 | ) | 164,581 |
298,263 | (168,790 | ) | 129,473 |
Restricted funds |
Derbyshire County Council | 697,716 | (701,160 | ) | (3,444 | ) |
Derbyshire ICB | 60,535 | (60,535 | ) | - |
South Derbyshire District Council (SDDC) | 208,312 | (191,572 | ) | 16,740 |
Erewash Borough Council | 16,000 | (16,000 | ) | - |
National Lottery Community Fund | 4,167 | (20,456 | ) | (16,289 | ) |
Foundation Derbyshire | 6,000 | (6,000 | ) | - |
Handy Person capital budget | 7,000 | (18,509 | ) | (11,509 | ) |
Capital grant fund | - | (7,000 | ) | (7,000 | ) |
SDMHA - Mental Wellbeing | 44,962 | (17,421 | ) | 27,541 |
1,044,692 | (1,038,653 | ) | 6,039 |
TOTAL FUNDS | 1,342,955 | (1,207,443 | ) | 135,512 |
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 | 168,310 | (8,712 | ) | (31,915 | ) | 127,683 |
Fixed assets | 118,719 | (18,621 | ) | (88,479 | ) | 11,619 |
Property sale | - | 164,581 | 100,832 | 265,413 |
Reserves policy | 132,000 | - | (30,766 | ) | 101,234 |
419,029 | 137,248 | (50,328 | ) | 505,949 |
Restricted funds |
Derbyshire County Council | 34,201 | (39,854 | ) | 40,968 | 35,315 |
South Derbyshire District Council (SDDC) | (7,376 | ) | 16,740 | 8,680 | 18,044 |
National Lottery Community Fund | 16,289 | (9,724 | ) | - | 6,565 |
Miscellaneous Funds | - | (9,360 | ) | 9,360 | - |
Handy Person capital budget | 20,189 | (11,509 | ) | (8,680 | ) | - |
Capital grant fund | 7,000 | (7,000 | ) | - | - |
SDMHA - Mental Wellbeing | - | 27,134 | - | 27,134 |
70,303 | (33,573 | ) | 50,328 | 87,058 |
TOTAL FUNDS | 489,332 | 103,675 | - | 593,007 |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
22. | 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 | 100,503 | (109,215 | ) | (8,712 | ) |
Fixed assets | - | (18,621 | ) | (18,621 | ) |
Property sale | 234,168 | (69,587 | ) | 164,581 |
334,671 | (197,423 | ) | 137,248 |
Restricted funds |
Derbyshire County Council | 1,257,297 | (1,297,151 | ) | (39,854 | ) |
Derbyshire ICB | 289,225 | (289,225 | ) | - |
South Derbyshire District Council (SDDC) | 450,090 | (433,350 | ) | 16,740 |
Erewash Borough Council | 32,499 | (32,499 | ) | - |
National Lottery Community Fund | 28,423 | (38,147 | ) | (9,724 | ) |
Foundation Derbyshire | 22,039 | (22,039 | ) | - |
Miscellaneous Funds | 35,534 | (44,894 | ) | (9,360 | ) |
Handy Person capital budget | 7,000 | (18,509 | ) | (11,509 | ) |
Capital grant fund | - | (7,000 | ) | (7,000 | ) |
SDMHA - Mental Wellbeing | 50,910 | (23,776 | ) | 27,134 |
Other income | 12,276 | (12,276 | ) | - |
DCC Public Health | 56,000 | (56,000 | ) | - |
2,241,293 | (2,274,866 | ) | (33,573 | ) |
TOTAL FUNDS | 2,575,964 | (2,472,289 | ) | 103,675 |
Statement of funds |
Designated funds |
Designated funds are comprised of amounts set aside under the reserves policy detailed in the Trustees' Report, amounts tied up in fixed assets and the proceeds from the prior year property sale ringfenced by the Trustees. |
Restricted funds |
Derbyshire County Council funding supports the provision of the Home from Hospital service, Befriending services, Active Travel, the running of the Food Bank, Covid Connectors and general infrastructure projects. |
Derby & Derbyshire CCG funding supports the provision of infrastructure, signposting and includes funds for grant administration. |
South Derbyshire District Council funding includes core funding and funds for infrastructure, Safer Homes, Shopmobility and the Handyperson service. |
DCC Public Health funding received supports Food Hub, ALICE, and includes funds for grant administration. |
National Lottery Community Fund supports HubCo and the three year Island Project. |
Foundation Derbyshire support projects on Social Impact and Protected Characteristics. |
Miscellaneous funds represent Erewash Borough Council - Safer Homes, NHS Swadlincote PCN - Social Prescribing and smaller funds such as food bank donations. |
The Handyperson capital budget represents funding for materials used in delivering Handyperson service funded by South Derbyshire District Council. |
Other income represents smaller funds such as Connex and NHS Sherwood Forest Hospitals. |
SDMHA - Mental Wellbeing represents the funds donated by South Derbyshire Mental Health Association on winding up of the charity. |
South Derbyshire CVS |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
23. | EMPLOYEE BENEFIT OBLIGATIONS |
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £88,814 in the year (2023 - £68,339). |
24. | RELATED PARTY DISCLOSURES |