The trustees present their annual report and financial statements for the year ended 31 March 2025.
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 Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), 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).
The charity’s objectives are to advance citizenship and community development throughout Fife by assisting voluntary, charitable, social enterprise and community organisations (third sector) and volunteers to thrive and develop. This includes the provision of services which will strengthen the contribution of the third sector and volunteers to the economic, social and cultural development of communities. In furtherance of these objectives we aim to advance health and prevent poverty by supporting third sector organisations to deliver high quality services and activities to vulnerable groups and to advance education through the provision of appropriate training to third sector organisations and volunteers.
The key themes are:
1. Provide support to voluntary organisations operating in the area (both local and national organisations) who deliver services within Fife;
2. Provide support to and the promotion of volunteering;
3. Promote, support and develop social enterprise; and
4. Provide a connection between the Community Planning partnership and the third sector in Fife.
Our CEO led various staff operational workplan development sessions to review activity and with their input we adjusted key performance indicators and targets.
Operational activity summary
The organisation produces an operational workplan for each financial year, running from April through to March.
The operational workplan is a live document and is updated on a quarterly basis with performance information. It is also subject to change, based on environmental factors, changes in funding/income, emerging or changing priorities and so forth. Minor changes will be made within the Management Team with substantive changes requiring Board and – sometimes - core funder approval. To ensure transparency, performance targets will not be reduced or removed and will always be shown as they were prior to the start of the financial year. The full staff team is involved in reviewing the workplan and setting key performance indicators, which are finalised by the CEO and presented to the Board for approval. All indicators are set with the funding priorities, needs and views of stakeholders to ensure that the charity makes best use of the resources it has to maximise impact on those we serve.
Operational activity summary (continued)
The tabular format of the operational plan is laid out to demonstrate which activities contribute to our outcomes and strategic objectives. A few activities appear under more than one outcome area where this is appropriate and helps readers to identify the range of activities undertaken in furtherance of a particular outcome.
We undertake hundreds of different and specific operational activities, and during 2024/25, the following is a summary of some of our key achievements:
51,765 enquiries handled;
598 organisations supported with a variety of issues including succession planning, monitoring and evaluating, completing statutory compliance forms, funding, governance, staffing, volunteer management and much more;
38 new start organisations, including 4 new social enterprises;
87 training sessions delivered, with 974 participants;
2 small grant schemes managed;
49 funding organisational meetings held and 11 local information sessions held;
24 meetings held and 36 breaks awarded to develop carer respitality breaks for unpaid carers in Fife;
137 organisations supported to identify appropriate sources of funding;
230 support volunteers with additional support needs including disability and/or mental health problems into volunteering;
1083 young people achieved Saltire Award certificates;
230 people who have additional support needs were supported to take up volunteering opportunities across Fife;
648 volunteers were supported to take up volunteering opportunities;
61 referrals in relation Kingdom Companions befriending service;
344 drop-ins, 200 matches in relation to opening volunteering shop in Dunfermline
236 organisations supported on volunteering issues and assisted with the development, including relevant policies recruiting and managing volunteers, supervision of volunteering roles;
131 meetings attended to support and in some cases lead on third sector engagement in Children’s Services Strategy in Fife;
480 volunteering opportunities added to our database;
254 strategic meetings attended with Community Planning meetings;
45 meetings to support and in some cases lead on Mental Health Wellbeing work;
121 meetings to map and support co-ordination of services.
The list above is not exhaustive and omits many other detailed activities, including most of the internal activities designed to ensure the charity remains effective and efficient.
Our financial performance during the year was very strong, with a slight deficit (£3,235) for the year (against a surplus in 2024 of £60,784).
Compared to the previous year (2024/25), our total income increased from £3,424,757 to £3,595,501 and expenditure increased from £3,363,912 to £3,596,619.
Our unrestricted reserves position increased by £25,715, to £492,357, however this is lower than the amount we should be holding in reserve (the next section contains more information on reserves).
The financial year has been more challenging than the previous year, due mainly to increases in NI contributions, increases in pension contribution to help secure Living Pension accreditation to benefit staff in their retirement, inflationary increases particularly utilities and cost-of-living increases to staff.
Our sources of income, areas of expenditure and our financial performance have not varied dramatically in several years – our core business is well-established and funded and our generated income has broadly settled in recent years, showing gradual growth since the end of the pandemic.
A breakdown of income and expenditure as well as accompanying notes on the financial activities during the year, compared with the previous year, follow in this report.
Reserves /Investment Policy
Funding received for specific pieces of work, or particular areas of work, is contained within restricted funds in order to ensure that it is spent on the purpose for which it was paid.
The organisation seeks to hold reserves for two main purposes:
1. to create a working balance to help cushion the impact of uneven cash flows and avoid unnecessary temporary borrowing; and
2. create a contingency to cushion the impact of unexpected events or emergencies, including but not limited to winding the organisation up.
In 2025 Directors reviewed their policy in relation to the general (unrestricted) funds held by the Charity. It was increased in the previous financial year to 6 months’ for the purposes of wind-up, reflecting increased operating costs and the complexity of the funding, lease and contractual obligations held by the charity. It was determined by the Directors that in order to remain a going concern and continue to fulfil the Charity’s mission and funding obligations, we should continue to aim to hold the equivalent of 6 months’ expenses in unrestricted reserves. As at December 2025, this amounts to around £1.5m. The level of unrestricted reserves is significantly below this safe operating minimum and so Directors and the CEO shall work hard to manage costs, increase generated income and steadily grow unrestricted reserves until they reach this level.
Plans for future periods
The Directors will be working closely with the CEO to lead on the following:
Ensuring grant and generated income is sufficient to sustain the levels of service delivery that are forecast in our operational plan;
Continue to support our main partners in Fife to design the new Plan for Fife – particularly around No Wrong Door, tackling poverty, improving employment outcomes, reducing health inequality and maximising the benefits of Community Wealth Building;
Support the sector around commissioning, finding ways of improving sustainability and working together, as well as working together with our public sector partners;
Develop new supports around social enterprise development;
Continue to invest in our new services database and support partners and users to make the most of it – adding volunteering opportunities, case management and evaluation functionality;
Open a client meeting space in Cupar, and explore expansion of the facilities in our Dunfermline Hub, subject to favourable lease extension terms;
Focusing on our efforts to continuously improve – including business resilience and continuity, with a strong focus on cyber security as we continue to rely on technology to support our work.
Fife Voluntary Action is a Scottish company, limited by guarantee, incorporated on 4 February 2000 and is a registered Scottish charity. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
Fife Voluntary Action is the third sector interface (TSI) for the Fife Council area.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Directors/Committee of Management
Ms Caryn Nicolson (Chair)
Ms Janice Laird (Vice-Chair)
Mr Allan Thomson (Treasurer)
Mr Tommy Sweeney
Mr Paul Mooney
Dr John McGuire (Resigned 2 June 2025)
Mr Ronald Muir (Appointed 20 August 2025)
Chief Executive Officer
Mr Kenny Murphy
Registered Office and Principal Address
Caledonia House
Pentland Park
Saltire Centre
Glenrothes
Fife
KY6 2AQ
Bankers
The Royal Bank of Scotland plc
23-25 Rosslyn Street
Kirkcaldy
KY1 3HW
Independent Auditor
Thomson Cooper
Accountants
3 Castle Court
Dunfermline
Fife
KY11 8PB
The Directors are responsible for the overall governance of the charity and receive reports from a Finance Sub Committee chaired by the Treasurer, a Human Resources Sub Committee chaired by a director and from the Chief Executive Officer (CEO) and other members of the Management Team.
Daily operational responsibility is delegated to the Chief Executive Officer, who is supported by a senior management team consisting of the Head of Community Development, the Head of Volunteering Development, the Head of Health & Care, the Employability Development Manager, the Children’s Services Manager, the HR Manager and the Communications and Engagement Manager.
Director induction and training
The Board of Directors regularly reviews skills and potential gaps as part of the remit of the Human Resources Sub-Committee. This Sub-Committee then determines when a recruitment exercise is necessary and instructs the CEO accordingly.
When recruiting for new Board members we advertise openly, provide key information on the role and the organisation and offer people opportunities to speak to the CEO or a Board member informally. Interested candidates are required to complete an application form and are interviewed by the CEO and at least one existing Board member, typically an office bearer. A recommendation is then made to the Board.
The organisation uses a comprehensive induction checklist for new Board members and ongoing training and support for Directors is discussed and overseen by the HR Sub-Committee. Regular, ‘on-the-job’ training by way of information updates and good practice guidance through things like policy review and development feature throughout the year which is of benefit to Directors.
The trustees, who are also the directors of Fife Voluntary Action for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 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 Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
In accordance with the company's articles, a resolution proposing that Thomson Cooper be reappointed as auditor of the company will be put at a General Meeting.
The Directors are thankful to the many funders, partners, organisations and people who contribute to the many successes of the charity.
This year, we’d like to specifically thank Helen Rorrison, our Head of Community Development who will retire at the end of 2025, after 33 years of service. Helens passion for the third sector and good governance, have seen her support hundreds of organisations and deliver training to thousands of trustees over the years. She will be a significant loss to the organisation, but she leaves in place a hard-working, knowledgeable and experienced team who will undoubtedly step up and endeavour to fill her shoes. Everybody at FVA wishes Helen a long, healthy and happy retirement.
We’d also like to thank John McGuire for his support and wisdom as a Director until he moved away in June 2025. We’re delighted to have been joined by Ronnie Muir during the year, and look forward to working with him over the coming months and years.
Our staff team and volunteers all contribute directly to the outputs and outcomes of the charity – regardless of their role or the number of hours they contribute each week, and with a dedication and commitment that continues to impress Directors. We are proud of the values and culture within the organisation, the way people work together in support of our service users and the low levels of turnover.
As Directors, we too are volunteers and proud to be part of FVA. We see and hear the many impacts the charity has on people and communities in every part of Fife.
We want to thank everybody who has contributed to the activity and results of the charity including our service users – the people we are here to serve.
The trustees' report was approved by the Board of Trustees.
Opinion
We have audited the financial statements of Fife Voluntary Action (the ‘charity’) for the year ended 31 March 2025 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:
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.
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.
We have nothing to report in respect of the following matters in relation to which the Charities Accounts (Scotland) Regulations 2006 requires 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
proper 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.
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.
We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 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.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
We considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: existence and timing of recognition of income, posting of unusual journals along with complex transactions and manipulating the Charity’s key performance indicators to meet targets. We discussed these risks with management, designed audit procedures to test the timing and existence of revenue, tested a sample of journals to confirm they were appropriate and reviewed areas of judgement for indicators of management bias to address these risks.
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the officers and other management (as required by the auditing standards).
We reviewed the laws and regulations in areas that directly affect the financial statements including financial and taxation legislation and considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.
With the exception of any known or possible non-compliance with relevant and significant laws and regulations, and as required by the auditing standards, our work in respect of these was limited to enquiry of the officers and management of the charity.
We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion or the provision of intentional misrepresentations.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. 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.
Thomson Cooper is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under of section 1212 of the Companies Act 2006.
Investments
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 37 form part of these financial statements.
The notes on pages 14 to 37 form part of these financial statements.
The notes on pages 14 to 37 form part of these financial statements.
Fife Voluntary Action is a private company limited by guarantee incorporated in Scotland. The registered office is Caledonia House, Pentland Park, Saltire Centre, Glenrothes, KY6 2AQ.
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), 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.
The trustees are satisfied that Fife Voluntary Action has adequate unrestricted resources, to continue its objectives for the foreseeable future, and therefore believe it is appropriate to adopt the going concern basis in preparing these financial statements. The trustees have considered a period of 12 months from the date of approval of the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Resources expended are recognised when a legal or constructive obligation arises. Where possible, expenditure has been charged direct to charitable expenditure or governance costs. Where this is not possible the expenditure has been allocated on the basis of time spent by staff on each activity:
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries;
Costs of generating funds comprise the costs associated with attracting voluntary income; and
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
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.
Basic financial liabilities 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.
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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The company has been granted exemption from tax under sections 466 to 493 of the Corporation Tax Act 2010.
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.
The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial advice.
The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as incurred.
The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in income/(expenditure) for the year.
Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other recognised gains and losses in the period in which they occur and are not reclassified to income/(expenditure) in subsequent periods.
The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.
Grants receivable
Tenant Income Rentals and Charges
Footcare Fife Income
Room Hire Income
Investments
Grant Funded Programmes
Grant Funded Programmes
During the year, the Charity received funding from the Scottish Government in relation to the Mental Health and Wellbeing Fund providing essential funding for 70 charities.
The Charity also received funding on behalf of Time to Live to provide small grants to carers for short breaks distributing grants to over 770 applicants.
Charitable Activities
Grant Funded Programmes
Charitable Activities
Grant Funded Programmes
Travel costs
Training costs
Maintenance
Developmental costs
Staff recruitment
Motor running expenses
Bad debts
Direct
Property costs
Direct
Stationery and printing
Direct
Bank charges
Direct
Equipment costs
Direct
Insurance
Direct
Advertising
Direct
Sundry
Direct
Telephone
Direct
ICT Support
Direct
Accounts fees
Professional fees
Direct
Direct
Property costs
Direct
Stationery and printing
Direct
Bank charges
Direct
Equipment costs
Direct
Insurance
Direct
Advertising
Direct
Sundry
Direct
Telephone
Direct
ICT Support
Direct
Accounts fees
Professional fees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. (2024: None)
The average monthly number of employees during the year was:
The key management personnel of the charity comprise the directors and the Chief Executive Officer. The total employee benefits of the key management personnel of the charity were £96,623(2024 - £81,439).
No directors (2024 - none) received reimbursement for travel expenses totalling £nil (2024 - £nil). Directors do not receive any other remuneration.
The company operates a defined contribution scheme. There were £9,288 of outstanding pension contributions at 31 March 2025 (2024 - £9,288).
The company has been granted exemption from tax under sections 466 to 493 of the Corporation Tax Act 2010.
Deferred income is included in the financial statements as follows:
Deferred income relates to grants received which have been specified for spend in future accounting periods as per the conditions imposed by the funder.
The company participates in the scheme TPT Retirement Solutions - The Growth Plan, a multi-employer scheme which provides benefits to some 521 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.
The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.
The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.
A full actuarial valuation for the scheme was carried out at 30 September 2023. This valuation showed assets of £514.9m, liabilities of £531.0m and a deficit of £16.1m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:
Deficit contributions
From 1 April 2025 to 31 March 2028: | £2,100,000 per annum (payable monthly) |
Unless a concession has been agreed with the Trustee the term to 31 March 2028 applies.
Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:
Deficit contributions
From 1 April 2022 to 31 January 2025: | £3,312,000 per annum (payable monthly) |
|
|
The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.
Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.
Present Values of provision
| 31 March 2025 £
| 31 March 2024 £ | 31 March 2023 £ |
Present Value of provision | 2,103 | 734 | 1,571 |
RECONCILIATION OF OPENING AND CLOSING PROVISIONS
| Period Ending 31 March 2025 (£s) | Period Ending 31 March 2024 (£s) |
Provision at start of period | 734 | 1,571 |
Unwinding of the discount factor (interest expense) | 19 | 60 |
Deficit contribution paid | (748) | (898) |
Remeasurements - impact of any change in assumptions | 13 | 1 |
Remeasurements - amendments to the contribution schedule | 2,085 | - |
Provision at end of period | 2,103 | 734 |
|
| 31 March 2025 % per annum | 31 March 2024 % per annum | 31 March 2023 % per annum |
Rate of discount |
| 4.84 | 5.31 | 5.52 |
The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.
The following schedule details the deficit contributions agreed between the company and the scheme at each year end period:
DEFICIT CONTRIBUTIONS SCHEDULE
Year ending | 31 March 2025 (£s) | 31 March 2024 (£s) | 31 March 2023 (£s) |
Year 1 | 750 | 748 | 898 |
Year 2 | 750 | - | 748 |
Year 3 | 750 | - | - |
Year 4 | - | - | - |
Year 5 | - | - | - |
Year 6 | - | - | - |
Year 7 | - | - | - |
Year 8 | - | - | - |
Year 9 | - | - | - |
It is these contributions that have been used to derive the company's balance sheet liability.
Movements in the fair value of plan assets:
The fair value of plan assets at the reporting period end was as follows:
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
Short Break Project
This is Scottish Government funding received through Shared Care Scotland to provide grants of up to £400 to local carers of adults (there are other funding streams for carers who care for those aged 19 and under). A small proportion of the funding is retained to cover overheads with the majority going to carers.
More Choices, More Chances
This is project funding which employs a staff member to support young people (16+) with support needs into volunteering as a positive destination. It is part funded from ESF (40%) and former Fairer Scotland Funding (FSF) for the remaining 60%.
Reshaping Care for Older people
This funding is received through the Health and Social Care Partnership. The original grant was for supporting the sector to develop more innovative ways of working around care for older people which has transitioned, at national and local policy level, to integration of health and social care services.
Opportunities Fife
Opportunities Fife is the employability partnership in Fife, sitting within the Community Planning Partnership structure. The partnership, through Fife Council funds FVA to employ an Employability Manager and a Development Officer to develop the capacity of the third sector to contribute to employability outcomes. These staff members also contribute strategically at the partnership, co-ordinate Fife’s Employability Forum, facilitate a range of training and networking events and support the third sector employability consortium in Fife.
Kingdom Companions
We received funding from the Health and Social Care Partnership, along with a number of other local third sector organisations, to provide a befriending service. Our project is specifically short-term, goal-specific befriending through trained and supported volunteers who are matched with older people who will benefit from support and companionship to help them achieve a particular goal, for example getting back to activities they did before a hospital stay or attending a local social group.
Footcare
This is hugely successful project which receives funding from the Health and Social Care Partnership to provide a toenail cutting and basic footcare service through specially trained and supported volunteers. The grant contributes to the costs of the co-ordinator post and costs of the materials and expenses. The grant income is supplemented by generated income through charging a modest amount for each session. We work closely with our NHS colleagues in podiatry to ensure clients are referred for specialist advice or treatment as required. This project is becoming increasingly sustainable and we would hope to reduce reliance on the grant over the next couple of years.
Volunteer Employability
This project is funded through Fife Employment and Training Consortium, of which we are key members and helped establish. They receive funding from Opportunities Fife and distribute it to third sector providers who work together to deliver a range of employability supports across Fife. Our project involves supporting people into volunteering as a way of developing employability skills, experience, confidence and a reference. This has been a successful project, with increases in grant income to reflect demand and in recognition of the achievement of the agreed objectives.
Carol Gardiner Legacy
These funds were transferred from Volunteer Centre Fife on merging (in 2012) and have been received to enable Fife Voluntary Action to provide grants of up to £200 to volunteers living in West Fife who face financial barriers to their volunteering (such as travel costs).
Discretionary fund
These are partnership funds (with Fife Council) held by FVA for agreed spend on clients who require urgent, additional financial support due to the impacts of welfare reform. Typically, this will involve the supply of furniture or goods for a new tenancy or appropriate clothes for job interviews.
Third Sector Strategy Group
We occasionally receive one-off grants from Fife Council (Fairer Fife funding) on behalf of the work we support with the Third Sector Strategy Group (TSSG). Recent grants have been awarded for delivering leadership development opportunities, training and learning events in response to the Fairer Fife Commission's report on tackling poverty and the increasing role for the third sector.
Delivering Differently
This is Scottish Government funding for an innovative approach to determining how best to reshape employability service delivery to better suit those with mental health problems. We are delivering this in partnership with Fife Council. See Me agreed to fund a continuation of this work in 2019/20.
Credit Union
We received one-off funding from Fife Council to provide dedicated, specific capacity building support to the credit unions operating in Fife as part of the partnership response to tackling poverty.
Peer Support
This funding allowed us to recruit, train and support local people with relevant experience to provide peer support to others facing mental health challenges which are preventing them from securing or retaining employment.
Mental Health & Wellbeing
Development and management fee for setting up and administering a fund in Fife on behalf of Scottish Government. Funding panel had representation from Fife Health and Social Partnership, Fife Council and Fife Partnership.
Refugee Fund
We raised funds through donations, mostly using the Crowdfunder platform, to ensure that refugees fleeing other countries and settling in Fife had the clothing, toiletries and other essentials that were not able to be provided through public sector supports. We kicked this off during the Afghanistan refugee crisis and continued it for Afghans settling in Fife, but we extended it to support Ukrainian refugees towards the end of the financial year 2021/22.
Covid Fund
We raised funds through donations, mostly using the Crowdfunder platform, to enable us to provide adhoc support, shopping and equipment to people and communities impacted by Covid.
New Scots Project
The purpose of this fund is to map and promote services and opportunities to support New Scots in Fife to prosper and integrate whilst in Fife.
Creative Breaks
This fund is to develop and deliver short breaks projects and services for carers of adults, young carers and the people that they care for.
Brighter Futures
The purpose of this fund is to provide peripatetic health pods which offer moral & emotional support and early intervention services along side ear health care, pulmonary rehab and podiatry to the elderly and vulnerable.
Time to Live (Creative Breaks)
The purpose of this fund is to provide micro grants to unpaid carers so that they can take a short break. Creative breaks develop and deliver short breaks projects and services for carers of adults, young carers and the people that they care for.
Scottish government
This fund is to provide the role of a third sector interface officer to develop, support and represent the charity at the local level.
Fife Council
The purpose of this fund is to support a Community Services database.
Respitality
This fund provides individuals with time away from their regular caring routine and helps them to remain well enough to continue their caring role.
NOLB
This fund is to support the creation of an employability system that is more flexible, joined-up and responsive to the needs of people using services, as well as better able to adapt to the ever-changing social and economic context in which we all live and work.
The Robertson Trust
This fund is to support the continued growth of charities in FIfe.
Young Persons
The purpose of this fund is to provide support to young people in FIfe through voluntary work as well as supporting Fife young carers.
Employability Challenge
The purpose of this fund is to alleviate poverty by having sustainable well-paid employment. Helping people to becoming employable, to avoid under-employment, and to stay in work is a priority for third and public service agencies in Fife.
Time to Live
The purpose of this fund is to provide micro grants to unpaid carers so that they can take a short break.
Peer Support/Struggle to Strength
The purpose of this fund is to support people facing poverty, trauma, mental health issues, or unemployment by leveraging lived experience to build skills, confidence, and peer support, turning personal difficulties into pathways to help others and improve services
Dunfermline Hub
The purpose of this fund is to pay for rental costs in the extended Dunfermline branch of FVA.
Fife Rural Development Fund
The purpose of this fund is to cover repair costs as well as staff costs and related motoring costs for the FVA van to provide short breaks in Fife.
Co Production Income
This fund is to develop approaches for co-producing services for children and families, by engaging with and involving children and families.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used.
There were no disclosable related party transactions during the year (2024 - none).
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
The charity had no material debt during the year.