Charity registration number 1063655
Company registration number 03351855 (England and Wales)
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
CONTENTS
Page
Trustees report
1 - 10
Statement of Trustees responsibilities
11
Independent auditor's report
12 - 14
Statement of financial activities
15
Balance sheet
16 - 17
Statement of cash flows
18
Notes to the financial statements
19 - 27
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024

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

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

 

Objects of the charity

 

1) To promote any charitable purpose and Social Enterprises for the benefit of the community in Essex, Suffolk, Hertfordshire, Norfolk, Bedfordshire and Cambridgeshire and, in particular, the advancement of education, the protection of health and the relief of poverty, distress and sickness.

 

2) 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 bodies within the area of benefit.

Objectives and activities

Objectives and aims

The charity aims to achieve its objects by working closely with a wide range of partners, including other Voluntary and Community sector groups, the public and private sectors and health organisations. Beneficiaries come from all walks of life and include children through to older people.

Ensuring our work delivers our aims

We review our aims, objectives and activities each year. The review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to those we aim to support. These are incorporated into an annual operational plan, which is supported by a three-year strategic plan.

Significant activities

The charity, as a council for voluntary services (CVS), undertakes 5 core functions with the additional volunteering function:

Development work

Identifying local need through a range of activities such as delivering specific programmes on co production, lived experience and community resilience. In addition to partnership working with others to develop appropriate action and working strategically to benefit the local voluntary and community sector.

Liaison

Liaison: Helping to maintain links with a wide range of voluntary and community organisations and promoting cross sector relations.

Representation

Representation: enabling the local voluntary and community sector to present its views on service design and delivery to statutory sector agencies through consultation, networking, seminars and workshops.

Services and support

Funding, legal, financial, management and constitutional information and guidance, training, providing local and strategic information via a range of methods, back office support, office lettings and room hire.

 

Strategic partnership

Forming partnerships between the major Public, Community and Voluntary sectors with the aim of improving Southend for the benefit of all within our local area.

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Volunteering

To provide stimulation and support for individual volunteers and organisations that involve them.

 

Public Benefit

The Trustees have referred to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing our aims and objectives and in planning our future activities.

 

The Trustees always consider how planned activities will contribute to the aims and objectives they have set for the charity.

 

In consideration of the significant activities stated above the Trustees are satisfied the Charity meets all requirements for the provision of providing a Public Benefit.

Achievements and performance

Our work as an organisation:

 

Our Vision is a strong empowered, inclusive Third Sector, made from organisations, communities and individuals that are catalysts for change.

 

Our Mission is to promote, develop and support a thriving, responsive, influential and inclusive voluntary and community sector in Southend.

 

We do this across all of the work and services we deliver to communities, built on a foundation of our values; Equality, Inclusion, Diversity, Independence, Innovation & Collaboration.

 

Southend’s Council for Voluntary Services

 

SAVS is an independent charity known as a Council for Voluntary Services or CVS. We work behind the scenes to help local charities and community groups achieve their full potential. As of the end of this year, we have over 440 individuals and organisations signed up as members.

 

CVSs are located across the country with funding predominately secured via Local Authorities. Southend City Council went out to tender in late 2022 for a five plus five year contract to deliver infrastructure across Southend. SAVS submitted a bid, and was awarded the contract in February 2023. This work began in April 2023 with a particular focus on supporting new and emerging groups, volunteering and embedding new technologies to support the delivery and accessibility of the work.

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Our service is tailored to the unique and specific needs of the organisations we support; however, it can be summarised into three main themes;

 

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

Community Based Delivery

 

We deliver a number of our own Community projects that support and empower the rich and diverse communities of Southend. These projects provide residents with a voice and opportunities to help shape the future of where they live. They also help to identify gaps in provision, champion local assets and promote strength based working.

 

The work of our community projects continues to develop into new areas with the key theme being that of engaging with the public to raise awareness, provide information, seek their views, keep them safe and build resilience. By engaging with the public in their neighbourhoods, we were able to identify and support the most vulnerable people in the community, many of whom have little or no social contact.

 

 

Our effective brokerage service ensures all individuals interested in volunteering are able to access information about the range of volunteering roles through a variety of different media including; website, phone, email and face to face. Prospective volunteers receive impartial person-centred advice and guidance on a range of volunteering options. Opportunities will have undergone a quality check prior to promotion and organisations will be supported to enhance those opportunities and ensure volunteering best practice. A successful year with over 600 volunteers signing up in the first year with 138 organisations registered to the Hub sharing over 200 opportunities.

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

 

 

 

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

 

 

 

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review

Principle funding sources

The principal funding sources for the charity are currently by way of grants and commissioned project income under service level agreements from our projects. A secondary source of income is from renting office space within the SAVS building.

 

Investment policy and objectives

The charity continues to review its investment policy, and our policy is to spread cash investments across a selection of reputable banking providers. Where possible deposits are within the government backed protection limits.

 

Reserves policy

We are pleased to report that SAVS financial position continues to be sound and that the organisation continues on a firm financial footing. This achievement is due to a dedicated and committed workforce, who work with enthusiasm and imagination to meet the changing needs of the Southend Voluntary and Community Sector and the Southend Community.

At the year end, the charity had unrestricted reserves of £291,972 (2023; £256,786) of this amount £126,838

(2023; £108,970) has been designated for future repairs and renewals and a contingency fund should redundancies be required. This leaves an unrestricted fund position of £165,134 (2023; £147,816).

 

Given that the majority, approximately 90%, (2023; 91%), of the charity's income is derived from grants and contract income, renewals of which are not guaranteed beyond their current agreement periods. The trustees feel that it is necessary to accumulate unrestricted reserves to a level, which, in their opinion, will safeguard its continued operation for a period long enough to obtain alternative sources of funding, should its current sources of grant funding cease completely.

 

Target reserves for 2024/25 are £300,724. The reserves policy is to add to unrestricted reserves until that level is reached, and thereafter review the position to ensure that any surplus funds are correctly used.

 

Going concern

Whilst preparing these financial accounts the continued operation of the Charity has been given due consideration. On the back of the pandemic period, SAVS continues to work in an agile way with remote and homebased working embedded in our delivery. The cost of living crisis and high inflation has affected the Charity, with significant increases across our general running costs including utility bills and resources. Where available uplifts in funding or additional funds have been successfully secured to help mitigate some of the risk within this period. Therefore, these accounts have been prepared on a going concern basis.

 

 

Funds in deficit

There were no funds in deficit at the end of the Financial Year.

 

FUTURE PLANS

 

Our key focuses for 2024/25 include:

 

To develop our work under five strategic objectives:

 

1. Capacity Building and Infrastructure Support

 

2. Building Dynamic Communities

 

3. Empowering voices

 

4. Develop successful partnerships, collaborations and relationships

 

5. Sustainability

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

Trustees are recruited through a formal and transparent process and are appointed at the Annual General Meeting. Provision exists for trustees to be co-opted onto the board for skills availability purposes.

Organisational structure

Southend Association of Voluntary Services has a Board of Trustees that meets every 3 months and is responsible for the strategic direction and policy of the organisation. The Board is made up of individuals from a variety of different professional backgrounds, with the technical expertise to support the services provided by the charity.

 

A scheme of delegation is in place and the day-to-day responsibility for the provision of services rests with the Chief Officer and Deputy Chief Officer along with the Finance Manager and Management Team.

 

The Chief Officer is responsible for ensuring that the charity delivers the services and that the key performance indicators are met. The Finance Manager is responsible for the day to day management of the finances. The management team has responsibility for individual supervision of their staff and ensuring that the team continue to develop their skills and working practices in line with good practice.

 

Induction and training of new trustees

Trustees new to the charity take part in the induction programme, which introduces the following:-

-Memorandum and Articles of Association

-Latest minutes and financial statements

-Annual report

-Resourcing and current financial position as set out in the latest financial statements

-Future plans and objectives

-Contact information for fellow trustees and staff

 

All new trustees receive a comprehensive Induction Pack for ease of reference. In addition, trustees have received a copy of Trustee and Management Committee - National Occupational Standards.

 

All of our trustees are familiar with the work of the charity and are involved in annual planning days for both staff and trustees.

Risk Management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

 

The trustees have considered the major risks to which the charity is exposed, and have put in place a system to mitigate these risks.

 

A risk register has been established which will be reviewed and updated annually.

 

Auditor

In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at a General Meeting.

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03351855 (England and Wales)

 

Registered Charity number

1063655

 

Registered office

SAVS Centre

29/31 Alexander Street

Southend on Sea

Essex

SS1 1BW

 

Trustees

Gabrielle Rydings

Adrian Buggle

Paul Hill

John L Lamb (resigned 07/11/2023)

Janice Walker

Sarah Mitchell

David Hurst

Chris DeBond

Roshan Romal

 

 

Auditors

Azets Audit Services

Chartered Accountants

7-8 Britannia Business Park

Comet way

Southend on Sea

Essex

SS2 6GE

 

Solicitors

BTMK Solicitors

19 Clifftown Road

Southend on Sea

Essex

SS1 1AB

 

President

His Worship, The Mayor

 

Chief Officer

Anthony Quinn

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024

FUNDS HELD AS CUSTODIAN FOR OTHERS

The charity sometimes holds funds on behalf of a small number of local voluntary organisations who are themselves in the process of obtaining charitable status. This is a sponsorship and governance service which we provide in the formative months of an emerging charity and Social Enterprise only.

 

The funds are accounted separately for in our accounting records. These funds are only distributed on receipt of appropriately authorised requests from the organisations involved.

 

At the year-end £800 (2023: £0) was held in this manner.

 

In addition, SAVS holds funds on behalf of the Southend Emergency Fund (SEF), the Southend Community Investment Fund (CIF) and the Health Inequalities Fund (HIF). SAVS is acting as an agent for the distribution of these funds, which come from local Government and the Health Sector. As at 31st March 2024 funds held on behalf of SEF was £8,956 (2023: £8,510), CIF £118,356 (2023: £108,336) and HIF £220,410 (2023: £0).

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

The Trustees report was approved by the Board of Trustees.

G Rydings
Trustee
Dated: 29 October 2024
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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
STATEMENT OF TRUSTEES RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also the directors of Southend Association of Voluntary Services for the purpose of company law, are responsible for preparing the Trustee Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES

Opinion

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

In our opinion, the financial statements:

-
- 12 -

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

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the 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 charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

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

Other information

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

 

We have nothing to report in this regard.

Matters on which we are required to report by exception

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

-

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

-

sufficient accounting records have not been kept; or

-

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

-

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

SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
Responsibilities of trustees

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

Auditor's responsibilities for the audit of the financial statements

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

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

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.  Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.  This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

 

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

 

 

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES

Use of our report

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

Azets Audit Services
29 October 2024
Chartered Accountants
Statutory Auditor
7 - 8 Britannia Business Park
Comet Way
Southend-On-Sea
Essex
United Kingdom
SS2 6GE

Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
4
904
8,478
9,382
11,444
7,938
19,382
Charitable activities
3
208,990
1,044,359
1,253,349
151,285
905,216
1,056,501
Investments
5
18,087
-
18,087
5,625
-
5,625
Total income
227,981
1,052,837
1,280,818
168,354
913,154
1,081,508
Expenditure on:
Charitable activities
6
195,618
1,070,926
1,266,544
122,248
892,904
1,015,152
Net incoming/(outgoing) resources before transfers
32,363
(18,089)
14,274
46,106
20,250
66,356
Gross transfers between funds
2,823
(2,823)
-
-
-
-
Net income/(expenditure) for the year/
Net movement in funds
35,186
(20,912)
14,274
46,106
20,250
66,356
Fund balances at 1 April 2023
256,786
297,266
554,052
210,680
277,016
487,696
Fund balances at 31 March 2024
291,972
276,354
568,326
256,786
297,266
554,052

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
12,552
1,386
Current assets
Debtors
12
23,204
33,022
Cash at bank and in hand
933,841
697,286
957,045
730,308
Creditors: amounts falling due within one year
13
(393,771)
(167,642)
Net current assets
563,274
562,666
Total assets less current liabilities
575,826
564,052
Creditors: amounts falling due after more than one year
14
(7,500)
(10,000)
Net assets
568,326
554,052
Income funds
Restricted funds
16
276,354
297,266
Unrestricted funds
291,972
256,786
568,326
554,052
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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

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

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

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

The financial statements were approved by the Trustees on 29 October 2024
G  Rydings
Trustee
Company Registration No. 03351855
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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
19
235,287
2,022
Investing activities
Purchase of tangible fixed assets
(14,319)
-
Interest received
18,087
5,625
Net cash generated from investing activities
3,768
5,625
Financing activities
Repayment of loans
(2,500)
(5,000)
Net cash used in financing activities
(2,500)
(5,000)
Net increase in cash and cash equivalents
236,555
2,647
Cash and cash equivalents at beginning of year
697,286
694,639
Cash and cash equivalents at end of year
933,841
697,286
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SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
Charity information

Southend Association of Voluntary Services is a private company limited by guarantee incorporated in England and Wales. The registered office is SAVS Centre, 29-31 Alexandra Street, Southend-On-Sea, Essex, SS1 1BW, United Kingdom.

1.1
Basis of preparing the financial statements

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

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

1.3
Charitable funds

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 purposes of each fund is included in the notes to the financial statements.

1.4
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.

1.5
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.

Expenses are allocated per project on a controlled and calculated basis depending on work load and funding agreement as per grant applications.

- 19 -
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
1.6
Tangible fixed assets

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

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

Fixtures and fittings
25% on cost
Computers
33% on cost
Motor vehicles
25% on cost
1.7
Basic financial assets

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

1.8
Basic financial liabilities

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

 

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

 

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

1.9
Taxation

The charity is exempt from corporation tax on its charitable activities.

1.10
Employee benefits

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

 

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

2
Critical accounting estimates and judgements

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

 

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

- 20 -
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3
Charitable activities

Charitable Income

Charitable Income

2024
2023
£
£

Resource office lettings

63,953
57,610

Sundry income

30,301
7,881

Grants

1,042,095
906,346

Service level agreement income

117,000
84,664
1,253,349
1,056,501
Analysis by fund
Unrestricted funds
208,990
151,285
Restricted funds
1,044,359
905,216
1,253,349
1,056,501
Performance related grants
Folks Like Us
1,000
625
Triple T's including CIN
53,931
54,508
A Better Start
198,870
165,615
Wellbeing
207,140
204,009
Social Prescribing
204,988
198,142
Southend Centres for Warmth
167,500
-
Community Builders
68,500
71,250
Community Connectors
29,050
-
Hospital discharge
42,000
-
Community investment board
-
37,000
Other
69,116
175,197
1,042,095
906,346
4
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations
904
8,478
9,382
11,444
7,938
19,382
- 21 -
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Investments
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Bank deposit interest

18,087
5,625
6
Charitable activities
2024
2023
£
£
Staff costs
847,697
762,749

Charitable expenditure

410,897
245,683
1,258,594
1,008,432
Share of governance costs (see note 7)
7,950
6,720
1,266,544
1,015,152
Analysis by fund
Unrestricted funds
195,618
122,248
Restricted funds
1,070,926
892,904
1,266,544
1,015,152
7
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
£
£
£
£
£
£
Audit fees
-
7,950
7,950
-
6,720
6,720
-
7,950
7,950
-
6,720
6,720
Analysed between
Charitable activities
-
7,950
7,950
-
6,720
6,720
- 22 -
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
8
Trustees

There was no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

 

No director/trustee received any remuneration or reimbursement of expenses during the year (2023 - none).

 

No director/trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2023- none).

 

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

9
Employees

The average monthly number of employees during the year was: 37

2024
2023
Number
Number
Chief officer
1
1
Project workers
26
25
Administration / Financial Management
9
9
Deputy Chief Officer
1
-
Total
37
35
Employment costs
2024
2023
£
£
Wages and salaries
847,697
762,749
There were no employees whose annual remuneration was more than £60,000.
10
Taxation

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

- 23 -
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
60,376
46,338
13,670
120,384
Additions
4,345
9,974
-
14,319
At 31 March 2024
64,721
56,312
13,670
134,703
Depreciation and impairment
At 1 April 2023
58,990
46,338
13,670
118,998
Depreciation charged in the year
1,356
1,797
-
3,153
At 31 March 2024
60,346
48,135
13,670
122,151
Carrying amount
At 31 March 2024
4,375
8,177
-
12,552
At 31 March 2023
1,386
-
-
1,386
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
7,846
21,548
Other debtors
6,089
3,565
Prepayments and accrued income
9,269
7,909
23,204
33,022

Trade debtors disclosed above are classified as loans and receivables and are therefore measured at amortised cost.

13
Creditors: amounts falling due within one year
2024
2023
£
£
Other loans (see note 15)
15
2,500
2,500
Trade creditors
3,206
6,602
Other creditors
366,722
137,677
Accrued expenses
21,343
20,863
393,771
167,642
- 24 -
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
14
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other loans (see note 15)
15
7,500
10,000
15
Loans and overdrafts
2024
2023
£
£
Other loans
10,000
12,500
Payable within one year
2,500
2,500
Payable after one year
7,500
10,000

The loan above was received from Southend-on-Sea Borough Council in 2005 to finance the deficit on the Alexandra Street project. It is interest free and repayable in annual instalments of £2,500, the last instalment falling due on 30th November 2027.

- 25 -
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16
Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
Movement in funds
Movement in funds
Balance at
1 April 2022
Incoming resources
Resources expended

Transfers between funds

 

Balance at
1 April 2023
Incoming resources
Resources expended

Transfers between funds

 

Balance at
31 March 2024
£
£
£
£
£
£
£
£
£
Folk Like Us
2,000
625
(242)
-
2,383
1,000
(2,642)
-
741
Safe As Houses
92
-
(25)
(67)
-
-
-
-
-
Social Prescription
15,600
198,142
(177,791)
(21,600)
14,351
204,988
(178,757)
(28,120)
12,462
Triple T's
44,923
23,373
(41,490)
-
26,806
22,342
(38,505)
(627)
10,016
Turning Tides
31,265
-
(610)
67
30,722
-
(635)
-
30,087
Wellbeing
6,419
204,009
(170,144)
(39,016)
1,268
207,140
(158,312)
(44,029)
6,067
South Essex Active Transport
3,594
-
-
(3,594)
-
-
-
-
-
Southend Centres for Warmth
-
-
-
-
-
167,500
(151,033)
-
16,467
Triple T's- Family
9,017
4,840
(4,004)
-
9,853
-
(3,422)
-
6,431
Community Builders
41,601
71,250
(74,429)
(5,000)
33,422
68,500
(58,041)
(3,504)
40,377
A Better Start
19,310
165,712
(145,158)
(30,563)
9,302
198,870
(161,484)
(32,888)
13,800
CIN Triple T's
1,658
31,109
(28,572)
(1,690)
2,505
31,589
(29,331)
(2,513)
2,250
Innovation Fund
10,305
3,766
(10,014)
5,011
9,068
1,822
(7,001)
(203)
3,686
Co-production Champion
52,829
-
(28,818)
(900)
23,111
-
-
-
23,111
Community Connectors
-
79,000
(15,117)
(3,677)
60,206
29,050
(38,376)
(2,150)
48,730
Home Safe
7,000
-
-
-
7,000
-
(40)
-
6,960
Hospital Discharge
-
46,600
(33,600)
(3,000)
10,000
42,000
(45,072)
(6,071)
857
Misc projects including Southend projects
31,403
84,728
(51,305)
(7,557)
57,269
78,036
(66,861)
(14,130)
54,314
277,016
913,154
(781,319)
(111,585)
297,266
1,052,837
(939,512)
(134,237)
276,354
- 26 -
SOUTHEND ASSOCIATION OF VOLUNTARY SERVICES
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
17
Analysis of net assets between funds
Unrestricted funds
Restricted funds
Total
Unrestricted funds
Restricted funds
Total
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Fund balances at 31 March 2024 are represented by:
Tangible assets
12,552
-
12,552
1,386
-
1,386
Current assets/(liabilities)
286,921
276,353
563,274
265,400
297,266
562,666
Long term liabilities
(7,500)
-
(7,500)
(10,000)
-
(10,000)
291,973
276,353
568,326
256,786
297,266
554,052
18
Related party transactions

The aggregate compensation paid to key management personnel in the period was £150,022 (2023: £142,179).

19
Cash generated from operations
2024
2023
£
£
Surplus for the year
14,274
66,356
Adjustments for:
Investment income recognised in statement of financial activities
(18,087)
(5,625)
Depreciation and impairment of tangible fixed assets
3,153
1,301
Movements in working capital:
Decrease/(increase) in debtors
9,818
(7,536)
Increase/(decrease) in creditors
226,129
(52,474)
Cash generated from operations
235,287
2,022
20
Analysis of changes in net funds
At 1 April 2023
Cash flows
At 31 March 2024
£
£
£
Cash at bank and in hand
697,286
236,555
933,841
Loans falling due within one year
(2,500)
-
(2,500)
Loans falling due after more than one year
(10,000)
2,500
(7,500)
684,786
239,055
923,841
- 27 -
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