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REGISTERED COMPANY NUMBER: 06689116 (England and Wales)

REGISTERED CHARITY NUMBER: 1198098











Report of the Trustees and

Unaudited Financial Statements

For The Year Ended 31 December 2024


for



The Venture Community Hub Ltd



The Venture Community Hub Ltd








Contents of the Financial Statements

For The Year Ended 31 December 2024






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Report of the Trustees  

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Independent Examiner's Report  

12




Statement of Financial Activities  

13




Balance Sheet  

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Notes to the Financial Statements  

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The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 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 December 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).


The Venture Community Hub was registered with the Charity Commission in England and Wales (Registered Number 1198098) on 1st March 2022 and is constituted as a company registered in England and Wales (Number 06689116) and limited by guarantee. Its objects and powers are set out in its Memorandum and Articles of Association which were updated on 5th November 2021 prior to the registration of the company as a charity.


Chairs report

To fellow Trustees, and to our valued Executive team and all staff members, to our Volunteers and Stakeholders, and to those other Charity and community partners and friends in our community:


This has been another challenging and successful year for the Charity as we have diversified the range of our services, and grown significantly financially and in the size of our team.


Our income for 2024 was £456.8k  ( in 2023 £372.9k) and our surplus £40.7k (in 2023 a deficit of £51.5k); the full effect of the new youth contract will be felt in the year 2025. Our reserves are satisfactory standing at £165.1k (in 2023 £124.4k).


The contract for Universal Youth Services was awarded by Gloucestershire County Council to Gloucestershire Gateway Trust in conjunction with 'The Venture' as a significant contributor, and sub-contractor. This was awarded in June and commenced in October 2024.  It is for a duration of 5 years with an extension clause for an  additional two years. It has resulted, through both a Tupe transfer of staff and new team members, in an increase in the number of our employees from 9 to 16.


Our three priority areas are supporting existing and creating new Youth Club provision, developing Youth Led Activities for young people, and Workforce development, namely training pathways for permanent staff, apprenticeships and creating a pipeline for youth workers.


The effect of this new work has been the strengthening of our senior and middle management with a requisite need for mentoring and staff training together with expanding and improving our support services and It systems.


The HAF contract, the bedrock of our expansion over the last three years, came to an end in December 2024. It has, however, been extended for another year. It is unclear what will then happen but the essential needs it has so successfully met in Gloucester City, protecting the health and welfare of families during school holidays, remains such an obvious area of concern requiring  positive Government support.


In terms of our major capital projects the priority has been appropriately given to the complete refurbishment of the White City open access adventure playground requiring funding of £500,000. This celebrated facility having had its 40th birthday in 2023 was part of the combined planning approval gained in November 2023 for its refurbishment together with the new community hub building. The recognition of the impact it continues to have in Gloucester City as a whole was why the City Council made it the number one priority in that planning consent.


The significant post covid changes in both the funding environment and the economy reported in last year's report remain making this a considerable challenge and again requiring the support of both the Gloucester City Council and the new Government.


With the expansion of the Charity and its range of essential services the need for the new community hub increases and itself becomes more urgent. Consigned, however, to be at present a second priority its building and availability is currently being deferred.




The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 2024


It is important to thank those funders who have offered support for the Playground but our appeal to new funders is to come on board for what are two capital projects whose impact in this community will be profound.


The Venture particularly wishes to recognize with thanks the Barnwood Trust for the funding of £100,000 over three years for the Top Up Play Days.


The role of the Trustees strategically and operationally in supporting the diversification and growth of 'The Venture' has been fundamental in the success achieved but with the consequent effect of an increasing workload. Deepak Pillai, a new Trustee, is already making a positive contribution, and there are discussions with other prospective Trustees. The need to increase the team from 5 to 8 remains a priority for the Trustee Board.


The Charity remains indebted to the incredible loyalty and commitment of the management and staff, and to our volunteers. To have all of the team, both staff and Trustees together, at  the first 'Away Day' was a joy and further cemented the huge sense of togetherness that has and will continue to be a hallmark of the Venture Community Hub Ltd.


OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity as set out in the Memorandum of Association state that:

"To further or benefit all the residents of Gloucester City, and in particular the neighbourhood, without distinction of age, sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education, and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents.

In furtherance of these objects but not otherwise, the directors shall have power:
To establish or secure the establishment of a Community Centre and Adventure Playground and to maintain and manage or co-operate with any statutory authority in the maintenance and management of such facilities for activities promoted by the charity in furtherance of the above objectives."

Following a review by the Board the voting members of the Company and Charity have been amended as follows:

A) Any newly appointed Director of the company should automatically become a member.

B) Any appointed member of the Community Engagement Group should automatically become a member.

C) The CEO should be a member.

The Charity is aware of the Charity Code of Governance and is working towards incorporation of the Code into its governance practice, using the Charity Code of Governance assessment tool.

Public benefit

This Annual report explains how the charity has carried out its objects in accordance with the Charity Commissions guidance on Public Benefit. The Trustees have concluded that the stated objectives and activities of the Charity are beneficial to the intended sections of the public in accordance with this guidance.

The Trustees consider that they have complied with their duty to have due regard to the public benefit guidance when exercising any powers or duties to which the guidance is relevant.



The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 2024


ACHIEVEMENT AND PERFORMANCE

Charitable activities

2024 has been a year of purposeful growth and impact across all areas of our work. Through the dedication of our staff, volunteers, and partners, The Venture Community Hub has continued to deliver responsive, inclusive, and high-quality services that directly address the needs of children, young people, and families across Gloucester.

Play & Community Support
Our Play Team has delivered 144 after-school sessions and 48 school holiday sessions, providing safe, creative, and inclusive environments where children can play, learn, and grow. This work remains central to our mission-supporting children's development through meaningful engagement and ensuring consistent access to positive experiences.

In 2024, we also organised 6 large-scale community coach trips and 18 targeted day trips for children and young people. Our volunteer programme continues to thrive, with 2,304 hours contributed by young people aged 5-25. These volunteers are not only supporting delivery they are developing skills, confidence, and a strong sense of civic responsibility.

We had over 11,500 engagements with children and young people and provided direct support to 42 families facing complex challenges such as bereavement, teenage pregnancy, and school exclusion. Our team's open-door approach has ensured timely, sensitive support for those in need, reinforcing our role as a trusted anchor within the community.

Youth Support Services
The expansion of our Youth Support Services has been one of the defining developments of the year. The launch of the Universal Youth Services contract saw our team grow and our capacity increase substantially. We are now delivering regular open-access youth club sessions each week at The Vibe Youth Centre in Coney Hill and are supporting a growing number of city wide partner organisations to strengthen the quality and safety of their youth provision.

We have also initiated a mapping exercise to identify unmet needs across local areas and inform the design of future outreach work. A new Youth Fund, led by young people themselves, is being established to support additional activities, and we are co-developing a Youth Voice strategy to ensure that the voices of young people are central to decisions that affect them.

Staff development has been a key priority. We are actively training new staff and volunteers and laying the foundations for a city-wide Youth Work training pathway, which includes plans to introduce Youth Work Apprenticeships in the near future.

Holiday Activities and Food (HAF) Programme
In 2024, our HAF programme continued to make a significant contribution to tackling holiday hunger and social isolation. Working with over 40 delivery partners, we coordinated 385 free activity sessions across the city. More than 8,000 meals were distributed via the Eat Well Wagon, and 3,375 free tickets were provided to local attractions.

Our team responded to nearly 2,000 enquiries from parents, carers, and professionals-demonstrating the ongoing demand for this essential programme. We also delivered Pop-Up Play Days and open-air cinema events in areas with little or no existing provision, ensuring families in underserved communities had access to quality, free holiday experiences.



The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 2024


FINANCIAL REVIEW

Results for the year

The results for the year to 31 December 2024 were very good and in fact exceeded Trustees expectations.


Total income at £456.8k was ahead of prior year by £84k (22.5%). Unrestricted income at £141.9k was down from prior year by £29.4k but at 31% (2023: 46%) of total income is still maintaining a very acceptable level.


Overall, the surplus for the year was £40.7k (£51.5k deficit in 2023). Consequently, net assets increased to £165.1k (2023:124.4k).


Set out below is a summary analysis of the key changes in our income levels:-


1. Barnwood Trust


There was an increase of £24.8k in funding received from the Barnwood Trust this year. The majority of which is the first payment of a 3 year funding agreement for the provision of Pop Up Play Days from December 2024 -  December 2027.


2. Youth Services Contract


In October 2024 we entered into a new Service Level agreement with Gloucestershire Gateway Trust to be the lead delivery partner for their Universal Youth Services Contract. £28.8k was received to cover the first quarter of costs and management fee expended on this project.


3. Build Back Better Funding


Our local ward Councillors awarded us £13k funding for projects related to food and young people.


4. Healthy Communities Together


We received £5k to fund an exploratory piece of work around our collaboration and relationships with other VCSE organisations, particularly in relation to the delivery of the Youth Contract.


5. Active Communities


A grant of £4.8k was received to fund activities to encourage communities to come together and connect during the summer of 2024.


6. Small Grants


£9.9k was received as a result of smaller funding applications written throughout the year.


Expenditure in 2024 at £416k was £8k below prior year.


The principal reasons for this is as follows:


1. Youth Services Contract: higher expenditure of £17k as funded by the new contract revenue


2. Professional fees associated with tax and new contract advice lower in 2024 by £12k


3. Other costs down by  £14k



Reserves

As of 31st December 2024, the charity's unrestricted funds were in surplus by £86.1k (2023: £65.8k). Restricted funds at 31st December 2024 stood at £79.1k (2023: £58.6k). Total reserves increased 32.7% to £165.1k (2023: £124.3k), principally because of the surplus in the year.


The total expenditure incurred on the new build project in 2024 is £14.7K. We are left with £6.7k carried forward into 2025. The movement in funds is shown in Note 10 to the accounts.



The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 2024



FINANCIAL REVIEW

Principal funding sources

The Charity's Business Model

The charity currently derives its income from several sources with Grant Income comprising 90% of the total generated in 2024 of £456.8k. Restricted Income comprises 68.9% (2023: 54%) of total income.

Almost all our restricted income in 2024 comes from grants with the largest providers being the HAF programme (49%, 2023: 66%). The other providers are listed in Note 2 to the accounts.

The principal sources of unrestricted income come from a grant provided by the Gloucestershire Gateway Trust (£20k), management services fee for the Youth Services contract (£11k) and a grant from Gloucester County Council (GCC) for the Charity's role as HAF district lead (£64k).

Reserves policy

The charity's reserves policy seeks to protect all its stakeholders, in particular its clients and staff by ensuring that services can continue to operate should unforeseen fluctuations in income or expenditure occur. The Board has established a Reserves policy to protect these Stakeholders and reviewed the policy in February 2025 carrying out a detailed analysis of its 2025 budgeted income and cost base to determine the reliability of its income and the extent to which its expenditure is committed.

The Venture Community Hub provides important services to many beneficiaries within the Gloucester city boundaries not least through its Adventure playground and HAF services. In general, we have a limited number of funders whose funding commitment (apart from HAF) is approximately one year. The only material exception is the Youth Services contract which is for an initial period of 5 years commencing October 2024.

Based on this analysis the Trustees consider it prudent to hold reserves representing the full contractual commitment it holds for its staff and suppliers. This commitment is between 3 to 6 months.

In total at current planned levels of activity the reserve should be approximately £88k.

The Charity currently holds unrestricted reserves of £86.1k which is in line with the reserves policy. The Trustees will review this policy during Q1 2026.

Going concern

The Charity has maintained healthy reserves throughout the year and sufficient funding is in place to ensure that its going concern status is not placed at risk.




The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 2024



FINANCIAL REVIEW

Cash and Cash Flow


Cash is tightly managed throughout the year and a balance of £160.6k was held at the end of 2024 (2023: £101.1k). The increase in cash during 2024 (- £59.5k) can be analysed as follows:


Net income for the year   £40.7k


Add back depreciation      £7.9k


Decrease in debtors        £17.2k


(Decrease) in creditors    (£6.3k)


Net cash from Operating activities £59.5k


Purchase of fixed assets  nil


Change in cash at bank £59.5k


Cash at bank at start of year £101.1k


Cash at bank at end of year £160.6k


Given the level of funds held with the Cooperative Bank the Board agreed to open an account with Lloyds Bank during 2024 to benefit from the Financial Services Compensation Scheme and reduce its dependence on the Cooperative Bank.


The Board has considered the cash flow forecast to December 2025. This shows that the charity, based on reasonable estimates of new income sources, together with its continuing sources can pay its creditors as they fall due without recourse to additional funding




The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 2024


LOOKING TO THE FUTURE

As we look ahead to 2025 and beyond, The Venture Community Hub enters its next phase with optimism, clarity, and a deep sense of responsibility. The scale and complexity of our work has grown significantly-but so too has our confidence in the value of what we do and the impact we make.


Strategic Priorities


Expanding youth provision We will continue to grow our offer at The Vibe, working closely with schools to establish pop-up youth clubs and structured group sessions. We will also support young people through initiatives such as the Duke of Edinburgh Award and dedicated programmes for those not in education, employment, or training (NEET), whose numbers are rising.


Developing the workforce As we scale up, we are investing in a clear training pathway for play and youth workers. This includes exploring the rollout of Apprenticeships and working with partners across districts to build capacity and future-proof our workforce.


Sustaining and strengthening community support

We will maintain our commitment to play and family support, continuing to deliver activities that are inclusive, responsive, and rooted in the needs of our community. Our targeted work with families in need will remain a core part of our offer.


Capital development and infrastructure

While the refurbishment of the playground remains our primary capital priority, we are also continuing to plan and advocate for our future community hub. Both projects are essential to delivering our long-term vision and expanding our capacity to serve.


Navigating funding uncertainty

The extension of the HAF programme into 2025 is welcome, but its long-term future is uncertain. We are actively exploring sustainable models and advocating for continued investment in this vital area. Our broader strategy includes diversifying income and building stronger relationships with funders and policymakers.


Our Commitment


In all of this, our focus remains unwavering: to provide high-quality, inclusive services that meet the needs of children, young people, and families in Gloucester. We are proud of what we've achieved in 2024, and we are ready to meet the challenges and opportunities that lie ahead. As we grow, we will stay true to our values-collaborative, compassionate, and rooted in community.


STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Venture Community Hub was registered with the Charity Commission in England and Wales (Registered Number 1198098) on 1st March 2022 and is constituted as a company registered in England and Wales (Number 06689116) and limited by guarantee. Its objects and powers are set out in its Memorandum and Articles of Association which were updated on 5th November 2021 prior to the registration of the company as a charity.




The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 2024



STRUCTURE, GOVERNANCE AND MANAGEMENT

Charity constitution

The objects of the charity as set out in the Memorandum of Association state that:


"To further or benefit all the residents of Gloucester City, and in particular the neighbourhood, without distinction of age, sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to advance education, and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life for the residents.


In furtherance of these objects but not otherwise, the directors shall have power:


To establish or secure the establishment of a Community Centre and Adventure Playground and to maintain and manage or co-operate with any statutory authority in the maintenance and management of such facilities for activities promoted by the charity in furtherance of the above objectives."


The voting members of the Company and Charity are the Directors (Trustees).


The Charity is aware of the Charity Code of Governance and is working towards incorporation of the Code into its governance practice, using the Charity Code of Governance assessment tool.


Board of Trustees and their responsibilities


The governing body is the Board of Trustees ("Board") whose members are elected by the charity's membership at the Annual General Meeting and are directors for the purpose of company law and trustees for the purpose of charity law.


The Board of Trustees is constituted and regulated in accordance with The Venture Community Hub's Memorandum and Articles of Association which the Board is using as a basis to develop its own Governance Framework document.


The Board consists of a minimum of 3 Trustees and there is no maximum number of Trustees. Currently there are 5 Trustees including one recent appointment, Mr Deepak Pillai.


The Board of Trustees meets every two months to determine the ongoing strategic direction and operational activity of the Charity. The agenda for these monthly meetings include the following standing items: Declaration of Interest, Action Log, CEO report, New Build Project, Risk Management, Finance, Governance. Minutes are recorded and circulated for all Board of Trustees meetings. Additional meetings of The Board of Trustees are called if required.


Following a review in 2023, the principal responsibilities of the Trustees dovetail effectively with those of management. The Statement of Reserved Powers and Delegated Authorities lays out the Functions Reserved to the Board and those Functions Delegated to Management. The Trustees have responsibility for those matters that are likely to have a material impact on the organisation, performance, and reputation of the charity.


All matters not specifically reserved to the Board and necessary for the day-to-day operations of the charity will be delegated to management.




The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 2024



STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisational structure

The Board of Trustees currently has the following posts of responsibility: Chair, Vice-Chair, Treasurer and Governance. Members of the Board of Trustees receive no remuneration or benefits from their Trusteeship of the Charity. The CEO reports into the Board with a specific reporting line to the Chair.

Details of the Trustees are noted below.

Chair: Drewe Lacey BA (hons), BSc(hons), DMS, FRSA (appointed 07/03/2022)

Drewe has strategic business expertise and strong financial management in general management and ownership through roles in FTSE 100 Companies such as BTR plc and international companies such as Ford Motor Company, to his own business in the regulated financial services sector. He won the IOD Director of the Year Award in Wales for a family business. He has also developed an expertise in business change engaging with his Livery Company, the Metropolitan Grand Lodge of London, and District 1100 of Rotary GB&I, an area including Bristol and North Somerset, Gloucestershire, Herefordshire and Monmouthshire and parts of Wiltshire and Worcestershire

Vice-Chair: Sue Cunningham

Sue is a registered Social Worker who works in Community and Economic development. She is CEO of a local charity, GL Communities, a role she has held for the last 25 years.

Sue has vast experience, knowledge and skills in leadership and management and leads on partnership and collaboration. She has been a Trustee of the Venture for many years and truly believes in the benefits of providing play and support for children and families at grass roots level. Sue is involved with many other organisations providing leadership, management and support and works alongside all elements of community engagement.

Treasurer: Chris Elliott BA (hons), FCMA, MioD (appointed 07/03/2022)

As an independent professional of 14 years Chris holds a range of non-executive director positions and provides consultancy services principally to family and private equity owned businesses, primarily within the business support services, healthcare, technology and third sectors. As an executive Chris brings a wide range of Board Level experience from the private and public sectors. He is a qualified accountant with over 30 years of commercial, operational, and financial management experience, most recently as Group MD for a FTSE 100 services group.

Governance: Joanna Robinson-Cox BSc (hons), PGCE (appointed 07/03/2022)

Joanna is a chemistry graduate with over 30 years' teaching experience in state secondary schools. She has held a variety of middle and senior leadership roles within the academic, pre-vocational and pastoral aspects of school life. Prior to her retirement in 2016, Joanna had 12 years' experience as Pastoral Deputy Head Teacher in an Ofsted graded 'Outstanding' High School in one of the most deprived areas of the country. Her expertise includes Safeguarding, admissions and appeals hearings, student attendance and behaviour management, tracking and analysing student data, parent/carer liaison, staff development, community has worked as an SLE, (Senior engagement, governing body work and membership of Local Authority panels. Joanna Leader in Education), delivering high quality in-service training to high schools around the country. She has written training modules on behalf of the National College for the NPQSL programme (National Professional Qualification for Senior Leaders) and has delivered lectures and seminars at both local and national level.

Deepak Pillai (appointed 23/09/2024)

Deepak is a hands-on and strategic retail professional with 18 years of experience in diverse retail and consulting roles spanning a broad spectrum of categories and multiple roles. He has a successful track record of profitably growing businesses and consistently meeting or exceeding commercial goals. Deepak is an established trainer and public speaker. In his current role, working within the care sector, Deepak has set up a franchise delivering high quality care at home for the elderly in Gloucestershire.



The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 2024



STRUCTURE, GOVERNANCE AND MANAGEMENT

Deepak has a Bachelor of Engineering (Civil) from the University of Pune and a Masters in Management Sciences (MMS)-Marketing from the University of Mumbai.

Induction and training of new trustees

New Trustees are recruited by personal recommendation, external references, and an interview with the Board, in accordance with Charity Commission guidance CC30. They are inducted in the workings of The Venture Community Hub, using our Trustee Induction Pack. Members of the Board of Trustees attend external trustee training as required. All trustees are encouraged to remain up to date through the Charity Commission guidance on governance and trusteeship, including the recently added '5 Minute Guides' . An annual 'awayday' for Trustees has been added to the annual calendar to allow time for long term visioning and planning, team building and Board training.

The Trustees will continue to actively recruit appropriate new trustees as appropriate to meet the needs of the charity. A recent audit of the knowledge, skills and expertise of the Trustees has been completed. This has enabled us to identify skill gaps within the board which, in turn, will help with the recruitment of additional Trustees to widen the expertise within the group.

Policies and Procedures

Over the past twelve months all policies originally adopted by the charity have been reviewed by the Board of Trustees. A review schedule has been drawn up to ensure all policies are reviewed regularly as required. All policies are to be made available electronically to all relevant parties.

The Trustees review the risk matrix on a regular basis.

Trustee Insurance

The trustees have ensured that the Charity is fully insured against all current potential risks and have in place: Charity Trustee Assurance £0.05m; Public Liability £5m; Employers Liability £10m; Abuse Insurance £5m.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06689116 (England and Wales)


Registered Charity number

1198098


Registered office

The Communal Building Dickens Close

Northfield Road

Gloucester

Gloucestershire

GL4 6UW


Trustees

C Elliott Company Director

D W Lacey Retired

Mrs S J Cunningham Manager

Mrs J M Robinson-Cox

D R Pillai (appointed 23.9.24)


Company Secretary

Mrs D Barnes




The Venture Community Hub Ltd (Registered number: 06689116)



Report of the Trustees

For The Year Ended 31 December 2024



REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN


Approved by order of the board of trustees on 28 May 2025 and signed on its behalf by:






D W Lacey - Trustee


Independent Examiner's Report to the Trustees of

The Venture Community Hub Ltd


Independent examiner's report to the trustees of The Venture Community Hub Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.


Responsibilities and basis of report

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


Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.


Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.


I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:


1.

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

2.

the accounts do not accord with those records; or

3.

the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).


I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.









Mark Spashett

The Institute of Chartered Accountants in England and Wales


Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN


10 June 2025



The Venture Community Hub Ltd



Statement of Financial Activities

For The Year Ended 31 December 2024



31.12.24


31.12.23


Unrestricted


Restricted


Total


Total


fund


funds


funds


funds


Notes

£   

£   

£   

£   


INCOME AND ENDOWMENTS FROM

Donations and legacies

2

116,767


314,983


431,750


298,831



Charitable activities

Recovery of costs

25,135


-


25,135


74,047


Total

141,902


314,983


456,885


372,878



EXPENDITURE ON

Charitable activities

HAF (Holiday Activites & Food Programme)

56,090


135,664


191,754


208,976


Outings and activites

-


76,189


76,189


69,654


Other charitable activities

53,734


40,330


94,064


106,765


Community investment fund

11,820


42,322


54,142


38,973


Total

121,644


294,505


416,149


424,368



NET INCOME/(EXPENDITURE)

20,258


20,478


40,736


(51,490

)



RECONCILIATION OF FUNDS

Total funds brought forward

65,807


58,595


124,402


175,892



TOTAL FUNDS CARRIED FORWARD

86,065


79,073


165,138


124,402




The Venture Community Hub Ltd (Registered number: 06689116)



Balance Sheet

31 December 2024



31.12.24


31.12.23


Unrestricted


Restricted


Total


Total


fund


funds


funds


funds


Notes

£   

£   

£   

£   


FIXED ASSETS


Tangible assets

7

4,924


15,283


20,207


28,155



CURRENT ASSETS


Debtors

8

4,873


-


4,873


22,103


Cash in hand

91,285


69,377


160,662


101,138


96,158


69,377


165,535


123,241



CREDITORS


Amounts falling due within one year

9

(15,016

)

(5,588

)

(20,604

)

(26,994

)


NET CURRENT ASSETS

81,142


63,789


144,931


96,247



TOTAL ASSETS LESS CURRENT

LIABILITIES

86,066


79,072


165,138


124,402



NET ASSETS

86,066


79,072


165,138


124,402


FUNDS

10

Unrestricted funds

86,066


65,807


Restricted funds

79,072


58,595


TOTAL FUNDS

165,138


124,402



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.



The Venture Community Hub Ltd (Registered number: 06689116)



Balance Sheet - continued

31 December 2024


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



The financial statements were approved by the Board of Trustees and authorised for issue on 28 May 2025  and were signed on its behalf by:






D W Lacey - Trustee



The Venture Community Hub Ltd



Notes to the Financial Statements

For The Year Ended 31 December 2024


1.

ACCOUNTING POLICIES



Basis of preparing the financial statements


The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.



Income


All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.



Expenditure


Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.



Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.



Plant and machinery

-

20% on cost


Motor vehicles

-

20% on cost



Taxation

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


Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


Pension costs and other post-retirement benefits


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 Venture Community Hub Ltd



Notes to the Financial Statements - continued

For The Year Ended 31 December 2024


2.

DONATIONS AND LEGACIES


31.12.24


31.12.23

£   

£   



Donations

20,212


15,429




Grants

411,538


283,402



431,750


298,831





Grants received, included in the above, are as follows:



31.12.24


31.12.23

£   

£   



HAF (Holiday Activities & Food programme)

204,475


188,632




Barnwood Trust

37,143


12,300




Strike a Light

-


8,000




Gateway Trust

6,374


20,000




GCC Household Support Fund

20,000


42,970




National Benevolent Fund

-


10,000




Various other small grants

8,400


1,500




Building/Construction project

29,220


-




Million hours

62,288


-




Gloucester community foundation

6,000


-




Active Gloucester

3,816


-




Healthy community together

5,000


-




Youth Services

28,822


-



411,538


283,402




3.

NET INCOME/(EXPENDITURE)



Net income/(expenditure) is stated after charging/(crediting):




31.12.24


31.12.23

£   

£   



Depreciation - owned assets

7,948


7,349




4.

TRUSTEES' REMUNERATION AND BENEFITS


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



Trustees' expenses


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




The Venture Community Hub Ltd



Notes to the Financial Statements - continued

For The Year Ended 31 December 2024


5.

STAFF COSTS



The average monthly number of employees during the year was as follows:



31.12.24


31.12.23


Venture community Hub support

10


9





No employees received emoluments in excess of £60,000.


6.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES


Unrestricted


Restricted


Total


fund


funds


funds

£   

£   

£   



INCOME AND ENDOWMENTS FROM


Donations and legacies

111,669


187,162


298,831




Charitable activities


Recovery of costs

59,718


14,329


74,047



Total

171,387


201,491


372,878




EXPENDITURE ON


Charitable activities


HAF (Holiday Activites & Food Programme)  

127,719


81,257


208,976



Outings and activites

-


69,654


69,654



Other charitable activities

38,676


68,089


106,765



Community investment fund

15,021


23,952


38,973



Total

181,416


242,952


424,368




NET INCOME/(EXPENDITURE)

(10,029

)

(41,461

)

(51,490

)




RECONCILIATION OF FUNDS


Total funds brought forward

75,836


100,056


175,892




TOTAL FUNDS CARRIED FORWARD

65,807


58,595


124,402





The Venture Community Hub Ltd



Notes to the Financial Statements - continued

For The Year Ended 31 December 2024


7.

TANGIBLE FIXED ASSETS


Plant and


Motor



machinery


vehicles


Totals

£   

£   

£   



COST


At 1 January 2024 and

31 December 2024

12,904


27,440


40,344




DEPRECIATION


At 1 January 2024

3,661


8,528


12,189




Charge for year

2,460


5,488


7,948




At 31 December 2024

6,121


14,016


20,137




NET BOOK VALUE


At 31 December 2024

6,783


13,424


20,207




At 31 December 2023

9,243


18,912


28,155




8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


31.12.24


31.12.23

£   

£   



Trade debtors

-


22,000




Other debtors

-


103




Prepayments and accrued income

4,873


-



4,873


22,103




9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


31.12.24


31.12.23

£   

£   



Trade creditors

8,096


13,647




Social security and other taxes

5,235


7,155




Other creditors

1,873


352




Accrued expenses

5,400


5,840



20,604


26,994






The Venture Community Hub Ltd



Notes to the Financial Statements - continued

For The Year Ended 31 December 2024


10.

MOVEMENT IN FUNDS


Net




movement


At



At 1.1.24


in funds


31.12.24


£   

£   

£   



Unrestricted funds


General fund

65,807


20,259


86,066





Restricted funds


HAF (Holiday Activities and Food

Programme)

33,163


(13,416

)

19,747




Other Community Projects

5,043


(1,261

)

3,782




Community Centre Construction

Project

5,189


1,561


6,750




Household Support Fund

15,200


(15,200

)

-




Million hours

-


15,650


15,650




Barnwood trust

-


33,143


33,143



58,595


20,477


79,072




TOTAL FUNDS

124,402


40,736


165,138





Net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

141,902


(121,643

)

20,259





Restricted funds


HAF (Holiday Activities and Food

Programme)

199,306


(212,722

)

(13,416

)



Other Community Projects

-


(1,261

)

(1,261

)



Community Centre Construction

Project

16,246


(14,685

)

1,561




Household Support Fund

-


(15,200

)

(15,200

)



Million hours

62,288


(46,638

)

15,650




Barnwood trust

37,143


(4,000

)

33,143



314,983


(294,506

)

20,477




TOTAL FUNDS

456,885


(416,149

)

40,736






The Venture Community Hub Ltd



Notes to the Financial Statements - continued

For The Year Ended 31 December 2024


10.

MOVEMENT IN FUNDS - continued



Comparatives for movement in funds



Net




movement


At



At 1.1.23


in funds


31.12.23


£   

£   

£   



Unrestricted funds


General fund

75,836


(10,029

)

65,807





Restricted funds


HAF (Holiday Activities and Food

Programme)

41,340


(8,177

)

33,163




Other Community Projects

14,323


(9,280

)

5,043




Community Centre Construction

Project

32,362


(27,173

)

5,189




Household Support Fund

12,031


3,169


15,200



100,056


(41,461

)

58,595




TOTAL FUNDS

175,892


(51,490

)

124,402





Comparative net movement in funds, included in the above are as follows:



Incoming


Resources


Movement



resources


expended


in funds


£   

£   

£   



Unrestricted funds


General fund

171,387


(181,416

)

(10,029

)




Restricted funds


HAF (Holiday Activities and Food

Programme)

153,016


(161,193

)

(8,177

)



Other Community Projects

5,505


(14,785

)

(9,280

)



Community Centre Construction

Project

-


(27,173

)

(27,173

)



Household Support Fund

42,970


(39,801

)

3,169



201,491


(242,952

)

(41,461

)



TOTAL FUNDS

372,878


(424,368

)

(51,490

)




The Venture Community Hub Ltd



Notes to the Financial Statements - continued

For The Year Ended 31 December 2024


10.

MOVEMENT IN FUNDS - continued



A current year 12 months and prior year 12 months combined position is as follows:



Net




movement


At



At 1.1.23


in funds


31.12.24


£   

£   

£   



Unrestricted funds


General fund

75,836


10,230


86,066





Restricted funds


HAF (Holiday Activities and Food

Programme)

41,340


(21,593

)

19,747




Other Community Projects

14,323


(10,541

)

3,782




Community Centre Construction

Project

32,362


(25,612

)

6,750




Household Support Fund

12,031


(12,031

)

-




Million hours

-


15,650


15,650




Barnwood trust

-


33,143


33,143



100,056


(20,984

)

79,072




TOTAL FUNDS

175,892


(10,754

)

165,138





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

313,289


(303,059

)

10,230





Restricted funds


HAF (Holiday Activities and Food

Programme)

352,322


(373,915

)

(21,593

)



Other Community Projects

5,505


(16,046

)

(10,541

)



Community Centre Construction

Project

16,246


(41,858

)

(25,612

)



Household Support Fund

42,970


(55,001

)

(12,031

)



Million hours

62,288


(46,638

)

15,650




Barnwood trust

37,143


(4,000

)

33,143



516,474


(537,458

)

(20,984

)



TOTAL FUNDS

829,763


(840,517

)

(10,754

)





The Venture Community Hub Ltd



Notes to the Financial Statements - continued

For The Year Ended 31 December 2024


11.

RELATED PARTY DISCLOSURES



There were no related party transactions for the year ended 31 December 2024.