Charity Registration Number: 223007 Company Number: 215695 (England and Wales) TRUSTEES' ANNUAL REPORT & ACCOUNTS YEAR ENDED 31 MARCH 2009 VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2009 __________________________________________________________________ Contents Legal and administrative information Chair's foreword Trustees' report Trustees' responsibilities Independent auditors' report Statement of financial activities Balance sheet Cashflow statement Notes to the cashflow statement Notes to the accounts Appendix A - Organisational structure Appendix B - Staff and volunteers Page 1-2 3 4 - 12 13 14-15 16 17 18 19 20-37 38 39-40 VOLUNTARY ACTION SHEFFIELD LIMITED LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ Registered office: The Circle 33 Rockingham Lane Sheffield S1 4FW Telephone: Fax: Web: E-mail: 0114 253 6600 0114 253 6601 www.vas.org.uk info@vas.org.uk Charity No: 223007 Company No: 215695 VAT Reg No: 706 1183 63 Honorary officers: Beryl Seaman Dr Jim Monach Jane Leathley Les Baker (Chair) (Vice-Chair) (Resigned November 2008) (Vice-Chair) (Treasurer) Other trustees: Ahmed Al-aagam Tricia Bint Wendy Bussey Prof David Chapman Peter Clarkson Kate Housden Sarfraz Hussain Daljit Kaur Luke Kenny Dr Roy Love David Packer Tim Plant Lesley Pollard Ben Richardson Jacquie Stubbs John Vear (Resigned November 2008) (Resigned November 2008) (Appointed November 2008) (Resigned November 2008) (Resigned November 2008) Co-opted members of the Board: Prof Rhiannon Billingsley Penny Brooks-Cordon Evelyn Milne Cllr Colin France (NHS Sheffield) (Resigned March 2009) (NHS Sheffield) (Resigned March 2009) (Sheffield City Council) (Resigned March 2009) (Sheffield City Council) (Appointed December 2008) Chief Executive and Company Secretary: Nick Warren _________________________________________________________________page 1 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED LEGAL AND ADMINISTRATIVE INFORMATION - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ Committees and advisers: Finance & Premises Committee Les Baker (Chair), Paul Carnell, Peter Clarkson, Sarfraz Hussain, David Packer, Beryl Seaman, Pat Stabler, Nick Warren, Philip Allsop (adviser). Personnel Committee Jo Cairns, Sarfraz Hussain (Chair), Claire Holden (adviser), Dr Roy Love, Dr Jim Monach, David Packer, Maggie Rowlands (adviser), Nick Warren, Rose Poad. Risk Management Review Committee Jane Leathley (Chair), Les Baker, Beryl Seaman, John Vear, Nick Warren Auditors: Barber Harrison & Platt 2 Rutland Park Sheffield S10 2PD Bankers: Unity Trust Bank plc Nine Brindleyplace 4 Oozells Square Birmingham B1 2HB CCLA Investment Management Ltd 80 Cheapside London EC2 6DZ Solicitors: Watson Esam 18 Paradise Square Sheffield S1 2TY _________________________________________________________________page 2 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ Foreword from the Chair This is my last foreword to the Trustees' Annual Report as I step down as Chair at our AGM in November, after 5 years in the role. It is with immense pride that I will hand over to the new Chair an organisation that is in good shape and ready to meet the challenges of the years to come. It has been a tough but rewarding year for VAS. Our staff have worked hard to identify funding to replace the £1.26m we had received from Yorkshire Forward for the three years up to 2009 and to be able to maintain most of our services into 2009/2010 and beyond. We were delighted when, in October, we were successfully re-assessed for the Customer First award. This attests to the efforts of managers and staff to ensure that we remain responsive to changing needs of our customers, the local voluntary and community sector. The Circle has continued to go from strength to strength. With the help of a grant from Capacitybuilders, we were able to upgrade our reception, first floor meeting rooms and terrace area; the result being significant improvement to provide even better facilities. This now includes a high-class gallery on the ground floor, which saw the launch of the much-praised Diversity in Volunteering exhibition in June. Our efforts to improve our marketing and communications work have been given impetus with the appointment of a specialist officer during the year to take this work forward. We have also increased our efforts to increase self-generated income to enable to us to maintain core services to local third sector groups, as the anticipated squeeze on the public sector begins to bite. We have increased VAS's strategic engagement with partners at local, regional and national level to further raise the profile of the sector. For example, on behalf of the Sheffield First partnership, we now employ the Strategic Volunteering Manager, to bring about a sustained increase in the level and quality of volunteering in the city, and we are working with the VCS Regional Forum on engaging with the new regional structures and the City Regions. We have also developed a policy commitment, published in the Spring of 2009, to give a clear focus to VAS's policy objectives for the next three years. It has been a privilege to Chair the Board of VAS. The Trustees have been a hard working, challenging but supportive group and I shall miss them and VAS greatly. During my term of office, I have worked with committed, skilled and talented people. My special thanks must go to Nick, our Chief Executive. It has been a rewarding partnership ... and great fun! All my good wishes go to VAS and the local voluntary and community sector for the future. We are a vital part of civic society and I know we will continue to flourish, to make Sheffield an even better place to live for all its citizens. Beryl Seaman 1 September 2009 _________________________________________________________________page 3 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' REPORT - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ Objectives and activities for public benefit The principal objects of the charity are "to promote for all or any purposes for the benefit of the City of Sheffield and the neighbourhood which now are or hereafter may be deemed by law to be charitable, and in particular the advancement of education, the furtherance of health and the relief of poverty, distress and sickness including support for the disadvantaged, the enhancement of community relations and care for the environment" (article 3 (a) of the Memorandum of Association). The charity carries out these objectives by supporting the work of local third sector organisations. The Trustees confirm that they have referred to Charity Commission's general guidance on public benefit and are satisfied that the organisation's strategic framework (see below) conforms with these requirements. Strategic framework VAS's strategic framework, which was subject to a major review in 2005, continued to provide the context for planning and managing VAS's work during 2008/9. In summary, the framework is comprised of the following key elements: Vision Voluntary and community organisations make a vital and growing contribution to improving the quality of life in all of Sheffield's communities. Mission To support the development of a voluntary and community sector in Sheffield that is effective, sustainable and influential. Values VAS is committed to a voluntary and community sector which values diversity and equality of opportunity, empowers groups, communities and individuals, is independent and supports voluntary and community action. Strategic outcomes Over 300 targets in the Workplan for 2008/9 contributed to the following strategic outcomes from the organisation:1. Voluntary and community organisations (VCOs) are equipped to deliver high quality and reliable outcomes. 2. Individuals and VCOs are making a major contribution to civil renewal and community cohesion. 3. VCOs are happy to engage with the development of public sector policies and practice. 4. VAS has the capacity it needs to achieve these outcomes. _________________________________________________________________page 4 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' REPORT - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ Progress and achievements in 2008/09 VAS exceeded its target of working with 900 organisations and 3000 individuals during the course of 2008/09 in furtherance of its strategic outcomes. Highlights of achievements against targets in the main service areas are outlined below. Building services The targets for building services included retaining fully tenanted occupancy of office accommodation, achieving £130k in income from room hire and conference facilities, increasing sales through marketing to new customers. Key achievements in 2008/9: · Office space in the Circle, VAS's building which opened in 2007, continued to be fully occupied with twelve voluntary and community sector tenants · Demand for room hire and conference facilities increased during the year, achieving over £140k including catering and equipment hire. · Successfully applied for £30k of funds from Capacitybuilders to refurbish the ground and first floor public spaces. This included creating the Circle Gallery for public art exhibitions on the ground floor and The Terrace indoor and outdoor areas on the first floor. We also improved signage throughout the building and the layout and appeal of the Volunteer Centre. Community Accountancy and Payroll The financial services targets for the year included providing 1-1 support to 40 organisations, a payroll service working with 900 individuals and leading the development of a collaborative South Yorkshire project. Key achievements in 2008/9: · 129 independent examinations of accounts carried out · The Payroll Service worked with 156 organisations employing 878 people · Provided one to one support on financial matters to 61 groups · Successfully applied to BASIS (Big Lottery Fund) to lead a South Yorkshire wide project in partnership with sister organisations in Rotherham, Barnsley and Doncaster · Delivered training workshops for 10 organisations on Full Cost Recovery for health related organisations and those contracting with NHS Sheffield Training VAS's Training targets included planning and delivering a programme of short courses and longer accredited courses, delivering 24 tailored training courses, supporting 10 managers from the VCS with mentors, developing an accreditation support service for voluntary and community organisations. Key achievements in 2008/9: · 1863 learning places taken up · 57 qualifications achieved _________________________________________________________________page 5 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' REPORT - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 _____________________________________________________________________ · · · · 56 tailored training courses delivered and 39 mental health courses 7 VCS managers provided with a management mentor Supported 38 organisations to find trainers and consultants from the trainers database of 150+ individuals Successfully obtained funds from Capacity Builders to deliver an accreditation support service for VCOs Contributed to the delivery of OFFER's How Your City works course 3 times during the year Capacity Building & Quality Targets for the capacity building and quality services included providing support on quality systems to 79 organisations, including 15 infrastructure organisations, providing 1-1 support to 75 new and small groups, providing HR advice and support to 45 organisations. Key achievements in 2008/9: · Partnered 2 separate successful bids to BASIS to deliver HR services and legal services to VCOs across South Yorkshire Exceeded the overall targets for Objective 1 and Yorkshire Forward for the South Yorkshire Quality Project (which ended March 2009) and disseminated a successful project evaluation report · Provided one to one support to over 109 new and small groups in Sheffield · Supported 13 local infrastructure organisations with performance improvement and quality systems · Gave 106 organisations legal advice and support · Provided HR advice and support to over 125 organisations · Supported the development of 4 consortia to bid to deliver public services · Launched a `Consortium Toolkit' and held training courses in using the toolkit around the country ICT ICT targets included providing a quality service to staff and tenants to ensure business needs are met, and marketing and reviewing sales of VC-Connect a web-base information management system. Key achievements in 2008/9: · Provided 47 organisations with ICT advice · Provided a quality ICT service to VAS staff and 10 tenants in The Circle · Started to promote and sell VC Connect, a web-base information management system. We sold 6 licenses to infrastructure organisations across England, including implementation and support. At the end of the year we reviewed progress and developed a business plan for developing promotion and sales for the next 3 years. Volunteer Centre Targets for the Volunteer Centre included placing 100 refugees and asylum seekers into volunteering, investigating the scope for delivering Employer Supported Volunteering activities, and providing 1-1 induction and advice to 25 new volunteer managers. _________________________________________________________________page 6 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' REPORT - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 _____________________________________________________________________ Key achievements in 2008/9: · Provided 1500 individuals with 1-1 advice and signposting to volunteering opportunities, including providing one-to-one help to 42 people with additional support needs · Developed action plans with 224 refugees and asylum seekers and placed 133 into voluntary work · Started to deliver Employee Supported Volunteering programmes with 3 government departments (DSCF, BIS and Border Agency) · Assisted over 100 refugees and asylum seekers to access tailored support to improve their employability Planning & Partnership VAS's planning and partnership work targets included supporting representatives on relevant partnership boards to contribute effectively, supporting the development of the health compact and a possible merger with the Local Authority compact, establishing the PCT Advisory Forum. Key achievements in 2008/9: · Set up a PCT Advisory Forum with 38 members and held 3 forums during the year · Organised Health Partnership Network events on Personalisation and Self Directed Support in December and March and participated in a task group on `brokerage' convened by SCC · Supported the VCS working with children and young people to contribute to consultations and plans, including Raising Attainment and Aspirations strategy, Guns and Gangs Crime and Safeguarding · Participated in the Sheffield First Partnership review, particularly in relation to Health & Well-Being · Continued to facilitate the Health Compact and held a joint Health and City Council event in November to work towards a possible merger · Helped with the development of the Sheffield BME Network, which had its first AGM in March (VAS's Legal Consultant also provided support to develop a constitution and company registration), including taking on accountable body role pending the Network's incorporation Sheffield LINk (Local Involvement Network) Targets for the LINk included establishing the LINk team, office base and communications, establishing the strategic framework and partnership arrangements, supporting the developing LINk. Key achievements in 2008/9: · Set up LINk office base and appointed staff team · Developed interim governance and accountability arrangements and held successful elections for a Governing Board of 15 people in March · Recruited 268 members to join the LINk · Set up committees on Governance, Partnerships, Communication and Membership, and Children & Young People, involving LINk members and key partner organisations · Set up 4 Task and Finish Groups to work on the public's health and social care concerns, including access to GPs and person-centred care _________________________________________________________________page 7 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' REPORT - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 · · Contributed to the Healthcare Commission's Annual Health Check and a wide range of consultations including on the Primary Care strategy Held a LINk logo design competition and the top twenty designs from more than 40 entries went to a public vote, with over 220 votes cast. The winning design came from a 13 year old young carer. Corporate activities Business Plan Review A three-year Business Plan Review commenced in January 2009, which included an analysis of the changing political, social and economic environment, a review of areas for development, proposals to strengthen the management structure as well as a review of the financial outlook to 2012. A new departure was the development of a policy commitment, setting out a series of policy objectives for the year ahead. The Review was published in May 2009. Impact Report For the second year running, VAS published an Impact Report in September 2008, reporting on achievements against VAS's strategic outcomes, with particular reference to its Key Performance Indicators. It also included a number of case studies. Marketing VAS appointed its first Marketing & Communications Officer in September 2008. Working as part of the core team, her job has been to develop a corporate and professional approach to marketing VAS's services, as well as improving our external communications. This is seen as especially important at a time when VAS needs to increase the amount of earned income to support front line services. Volunteering VAS continued to champion the role of volunteers through, in particular, the adoption of a local priority indicator within the Local Area Agreement, which sets targets for increasing the level of volunteering in the City over the next two years. A successful bid for Area Based Grant in late 2008 led to the creation of a new post of Strategic Volunteering Manager, working on behalf of the Sheffield First Partnership, to create a sustainable business plan for volunteering across all sectors in the city. Local voluntary & community sector review VAS joined a Steering Group with the City Council and other local infrastructure organisations and partners in January 2009, to initiate a major review of the local third sector. The object of the review was to examine the scope, structure and capacity of the sector, how well it organises itself and its working relationship with the City Council and other public sector organisations. This was intended to help inform what changes may be required in policies, investment plans and working relationships, to ensure the sector can thrive and play a full part in improving the quality of life for citizens in the years ahead. Consultants were appointed to carry out the research, with the finding and recommendations due in August 2009. _________________________________________________________________page 8 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' REPORT - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 _____________________________________________________________________ Sustainable Communities Act Panel In February 2009, VAS joined a panel set up by the City Council under the Sustainable Communities Act. The purpose of the panel, which also included 20 "citizens" and two representatives of business, was to identify proposals to be submitted to central Government for the improvement of the economic, social or environmental well-being of the local area. A shortlist of proposal was to be sent to Government in May. Special events As part of its response to helping the local voluntary and community sector come to terms with and plan for dealing with economic downturn, VAS hosted a special "Question Time" event in November. 85 attendees asked questions of an expert panel, drawn from the world of politics, business, local and central government as well as the third sector. This was followed in March with a special email newsletter to local groups, outlining tailored services to help groups through the recession as well as planning for a special event "beating the recession" to be held in May. Representation and strategic collaboration VAS continued to work closely with a range of organisations and partnerships throughout the year in furtherance of its strategic objectives, including Business in the Community, NHS Sheffield, Sheffield City Council and the Sheffield Community Enterprise Development Unit (SCEDU). In addition VAS was represented on the main board or served as a trustee of the following organisations and partnerships: the National Association for Voluntary & Community Action (NAVCA), OFFER, the Regional Forum, the Sheffield Compact (with the City Council), the Sheffield Health Compact, the Sheffield First Partnership, the Sheffield Community Infrastructure Project (renamed the Sheffield Community Economic Network in Spring 2009), the South Yorkshire ChangeUp Consortium and the South Yorkshire Open Forum (until October 2008). VAS also participated throughout the year in a number of special interest and task groups, including one convened by the Regional Forum to consider the implications of the Sub National Review for the local voluntary and community sector and opportunities for engaging with the City Regions, and another which brings together VAS's sister organisations in the Core Cities to compare notes on a range of common issues. Future plans and challenges The opportunities and challenges presented to VAS in the coming years are explored in some depth in its Business Plan Review, published in May 2009. Some of the main themes are: · Localism ­ moves by central government and Sheffield City Council to increase engagement and participation in local decision-making; · Local third sector review ­ the implications of a major review of the voluntary and community sector in Sheffield, ongoing during 2009; · Economic downturn ­ the combination of increasing demand on some local voluntary organisations, arising from people affected by the economic downturn, and the impact on available sources of funding; _________________________________________________________________page 9 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' REPORT - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 · · · · · Volunteering ­ the opportunities to develop a more strategic and co-ordinated approach to supporting an increase in the quantity and quality of volunteering in the city; Compacts ­ the need to build on working relationships with the City Council and NHS to take forward joint work on a range of strategic issues arising from the local third sector review; Procurement & commissioning ­ helping the local sector to respond to the increase in competitive tendering and opportunities to deliver public services; Personalisation ­ helping local organisations come to terms with the different models of service management and delivery which will be required in the future; Policy environment ­ the need to keep in close touch with the changing national and regional policy environment in order to understand the implications for the local third sector. Further details can be found in the review, which is posted on the VAS website: http://www.vas.org.uk/documents/vas-policies-resources/business_plan_review_2009 The Review also sets out a series of workplan objectives under the headings of "Equiping VCOs to deliver effectively", "Individuals active in their communities", "Influencing public policy & practice" and "Resources for our work". Governance, management and structure As a registered charity and a company limited by guarantee, VAS's governing document is its Memorandum & Articles of Association. This provides for a membership comprising voluntary and community sector (VCS) organisations active in the area of benefit (Sheffield and surrounding areas) and other individuals who may be appointed by the Board of Trustees from time to time. Organisational members are required to provide evidence of proper constitutional arrangements and financial reporting before being admitted into membership by the Board. There are currently 278 organisations in membership, in addition to 14 individual members. Members are listed on the VAS website (www.vas.org.uk). Members of the Board of Trustees are nominated from and elected by the members. Each Trustee is elected at an Annual General Meeting to serve for a three-year term, with approximately one third retiring each year. Casual vacancies may be filled by appointment by the Board until the next AGM. At 31 March 2009, there were 15 Trustees. Honorary Officers (Chair, Vice-Chair and Treasurer) are nominated and elected by Trustees annually, at the first Board Meeting to follow the AGM. The Board also has the power to co-opt up to four people. Cooptions are used to ensure close links with important partner organisations, such as the City Council and the Primary Care Trust. Co-opted members are not registered Trustees or Directors, and do not have voting rights. The Board is also served by Committees (see diagram in Appendix A on page 37), each chaired by a member of the Board, which meet between three and five times per year. These Committees are responsible for scrutinising specific areas of work, undertaking tasks delegated to them by the Board, and advising the Board on policy and strategy. All new Board members receive an induction with the Chair and Chief Executive. In addition, training opportunities are provided (both externally and internally) to enable Trustees to understand the organisation and their responsibilities. _________________________________________________________________page 10 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' REPORT - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 _____________________________________________________________________ The link between the Trustee Board and the staff is maintained through the following mechanisms:· Line management of the Chief Executive by the Chair (4-6 weekly meetings) · Quarterly meetings of the Honorary Officers and Executive Team · Executive Team attendance at meetings of the Board and Committees · Individual Trustees taking responsibility for following the work of one department (Board/link members), including periodic attendance at departmental team/planning meetings; · Annual joint away days of the Board and Management Team. NB: The Executive Team comprises the Chief Executive, the Director of Services, the Development Director and the Human Resources Manager. The Management Team comprises the Executive Team and the (8) departmental managers. The organisational structure is set out in Appendix A on page 37. Risk management An audit of the risks faced by the organisation was undertaken by senior managers and the Risk Management Committee during the year. A list of top ten risks was identified by weighting according to probability and impact, and will in future be reported on at each meeting of the Trustee Board, as part of the Chief Executive's report. Financial review The % breakdown of charitable expenditure by department in 2008/9 (see note 6 in the accounts was as follows: % Breakdown of principal areas of charitable expenditure by department % of total expenditure 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% Core services & accommodation Capacity Building and Quality Planning and Partnership Training Community Accountancy & Payroll Services Volunteer Centre ICT Support Project Income continues to be derived from many sources, including public sector funding bodies, charitable trusts and the Big Lottery (see notes 2 & 4 in the accounts). Of note is the amount of funds derived from fees and charges, which increased by 68% to £697,698. The related to income from renting office space and providing conference and meeting facilities in the Circle, _________________________________________________________________page 11 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' REPORT - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 plus fees from services to other voluntary and community organisations, including training, HR and IT advice, accounting and payroll services. A summary of the principal sources of income is set out in the table below. % Breakdown of income by source 35.0% % of total income 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% ) s s il d e d ip ld nd er ing m ar nc 50 ge un sh fie Fu ild co ar rw 59 ou er ain ef tF n r 1 C ch Bu Fo n's ad Sh en sI 02 rT y d ty e re Le ou Ci cit pm 01 an HS y hir cto ild / s N lo s it ne ld pa /1 Se Ch rk nt ve un lla fie Ca RC Yo ity m Re ef ce De eld s F l m un ffi Sh Mi RE na m Co he m -( gio or /S f Co ry Re y PD te & CY an em y ot L ar ad pe g nt ro Ac Bi Eu olu V SY Reserves policy The Board has determined that: (a) Free reserves should be maintained at a minimum of £250,000, to keep pace with turnover, to support cash flow and to provide some flexibility. This target has been assessed in various ways and, for example, it represents approximately six months of core running costs. The balance of £297,718 at 31 March 2009 represents 6.8 weeks of total running costs. Restricted funds must be kept in a risk-free and liquid form. (b) Designated funds totalled £1,784,437. Of this, £1,560,765 relates to The Circle building, being made up of £1,320,765 invested in the building itself, and a balance of £240,000 to support mortgage repayments over the next few years. The other designated fund of £223,612 is set aside to support deficits in key service areas which are foreseeable in the next few years. See note 21 of the accounts for further details. _________________________________________________________________page 12 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ Trustees' responsibilities for the financial statements Company law requires the Trustees (who are also the directors of Voluntary Action Sheffield for the purpose of company law) to prepare financial statements for each financial period, which give a true and fair view of the state of affairs of the Charity and the surplus or deficit for that period. In preparing those financial statements, the Trustees are required to:· · · select suitable accounting policies and apply them consistently; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the Charity will continue to operate. The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time, the financial position of the Charity and to enable them to ensure that the financial statements comply with the Companies Act 1985. 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. Statement of disclosure to auditors So far as the Trustees are aware, there is no relevant audit information of which the company's auditors are unaware, and they have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. This report has been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small companies. On behalf of the Board Beryl Seaman Chair 1 September 2009 _________________________________________________________________page 13 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED INDEPENDENT AUDIT REPORT TO THE MEMBERS OF VOLUNTARY ACTION SHEFFIELD FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ Independent Auditor's Report to the members of Voluntary Action Sheffield Ltd We have audited the financial statements of Voluntary Action Sheffield Ltd for the year ended 31 March 2009 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the related notes. These financial statements have been prepared under the accounting policies set out therein. This report is made solely to the charitable company's members, as a body, in accordance with Section 235 of the Companies Act 1985. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an 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 charitable company and its members as a body, for our audit work, for this report, or for the opinions we have formed. Respective responsibilities of trustees and auditors The trustees' (who are also the directors of Voluntary Action Sheffield Ltd for the purposes of company law) responsibilities for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) are set out in the Statement of Trustees' Responsibilities. Our responsibility is to audit the financial statements in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland). We report to you our opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Companies Act 1985. We also report to you whether in our opinion the information given in the Trustees' Annual Report is consistent with the financial statements. In addition we report to you if, in our opinion, the charity has not kept proper accounting records, if we have not received all the information and explanations we require for our audit, or if information specified by law regarding trustees' remuneration and other transactions is not disclosed. We read the Trustees' Annual Report and consider the implications for our report if we become aware of any apparent misstatements within it. Basis of audit opinion We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the trustees in the preparation of the financial statements, and of whether the accounting policies are appropriate to the charitable company's circumstances, consistently applied and adequately disclosed. We planned and performed our audit so as to obtain all information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance _________________________________________________________________page 14 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED INDEPENDENT AUDIT REPORT TO THE MEMBERS OF VOLUNTARY ACTION SHEFFIELD FOR THE YEAR ENDED 31 MARCH 2009 - continued ________________________________________________________________________ that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements. Opinion In our opinion: · the financial statements give a true and fair view, in accordance with United Kingdom Generally Accepted Accounting Practice of the state of the charitable company's affairs as at 31 March 2009, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; the financial statements have been properly prepared in accordance with the Companies Act 1985 and the information given in the Trustees' Annual Report is consistent with the financial statements. · · Barber Harrison & Platt Registered Auditors Date 2 Rutland Park Sheffield S10 2PD _________________________________________________________________page 15 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED STATEMENT OF FINANCIAL EXPENDITURE ACCOUNT) ACTIVITIES (INCORPORATING AN INCOME AND FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ Unrestricted Funds £ Restricted Funds £ Total 2009 £ Total 2008 £ Note Incoming resources Incoming resources from generated funds: Voluntary income Investment income Incoming resources from charitable activities Total incoming resources 2 29,476 25,132 59,566 - 89,042 25,132 89,014 37,820 3/4 715,882 _________ 770,490 _________ 1,512,846 _________ 1,572,412 _________ 2,228,728 _________ 2,342,902 _________ 1,811,855 _________ 1,938,689 _________ Resources expended Costs of generating funds Charitable activities Governance costs Total resources expended 5 6 7 (10,627) (22,247) (32,874) (726,195) (1,469,933) (2,196,128) (32,389) (12,349) (44,738) _________ _________ _________ (769,211) (1,504,529) (2,273,740) _________ _________ _________ (14,027) (1,944,430 ) (49,163) _________ (2,007,620) _________ Net movement in funds 1,279 67,883 69,162 (68,931) Transfer of funds Funds brought forward as at 1 April 2008 Funds carried forward as at 31 March 2009 21 274,283 (274,283) - - 1,806,593 _________ 2,082,155 _________ 538,698 _________ 332,298 _________ 2,345,291 _________ 2,414,453 _________ 2,414,222 _________ 2,345,291 ________ All of the above results are derived from continuing activities. The result for Companies Act purposes comprises the net resources during the year of £69,162 (2008 : net resources expended of £68,931). _________________________________________________________________page 16 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ Note Fixed assets Tangible assets Investment in group undertaking 14 15 2,491,565 6 _________ 2,491,571 2,545,068 6 _________ 2,545,074 _________ 2009 £ 2008 £ £ Current assets Debtors Cash at bank and in hand 16 552,697 707,932 _________ 1,260,629 (199,234) _________ 1,061,395 645,318 647,292 _________ 1,292,610 (321,784) _________ 970,826 Creditors: amounts falling due within one year Net current assets Creditors: amounts falling due in more than one year Net assets Accumulated funds Restricted Unrestricted Designated General 17 18 (1,138,513) _________ 2,414,453 _________ (1,170,609) _________ 2,345,291 _________ 19 332,298 538,698 _________ 1,509,292 297,301 _________ 1,806,593 _________ 2,345,291 _________ 21/23 1,784,437 297,718 _________ 2,082,155 _________ 2,414,453 _________ 22 The financial statements have been prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small companies. These accounts were approved by the Board on 15 July 2009 and are signed on its behalf by:- L Baker Honorary Treasurer and Director B Seaman Chair and Director _________________________________________________________________page 17 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED CASHFLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 2009 £ Net cash inflows from operating activities Returns on investments and servicing of finance Bank interest received Loan interest paid 25,132 (77,456) (52,324) Capital expenditure Payments to acquire tangible fixed assets Financing New bank loan Loan repayments (29,200) _________ 60,640 _________ (29,221) £ 171,385 £ 2008 £ 295,386 37,820 (82,277) (44,457) (108,955) 309,400 _________ 451,374 _________ Increase in cash in year _________________________________________________________________page 18 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE CASHFLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ Reconciliation of net movement in funds to net cash inflow from operating activities £ Net movement in funds Bank interest paid Depreciation of tangible fixed assets Loss on disposal of tangible fixed assets Return on investments Decrease in debtors Decrease in creditors Net cash inflows from operating activities 69,162 77,456 73,399 9,325 (25,132) 92,621 (125,446) _________ 171,385 _________ £ (68,931) 82,277 73,500 (37,820) 512,029 (265,669) _________ 295,386 _________ Analysis of net debt 1 April 2008 £ Cashflow £ Other non Cash Charges £ 31 March 2009 £ Net Cash Cash at bank and in hand Debt Debts falling due within one year Debts falling due after one year 647,292 60,640 - 707,932 (29,391) (1,170,609) (2,896) 32,096 _________ _________ (32,287) (1,138,513) _________ (462,868) _________ Net debt _________ _________ (552,708) 89,840 _________ _________ Reconciliation of net cashflow to movements in net funds £ Increase in cash in the year Cash (inflow)/outflow from (increase)/decrease in debt Movement in net debt in the year Opening net funds Closing net debt 60,640 29,200 89,840 (552,708) _________ (462,868) _________ £ 451,374 (309,400) 141,974 (694,682) _________ (552,708) _________ _________________________________________________________________page 19 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 1. Accounting policies (a) Basis of accounting The financial statements have been prepared under the historical cost accounting rules with the exception that the investments are included at their market valuation. The charity has taken advantage of the exemption from preparing a cash flow statement conferred by Financial Reporting Standard No 1 on the grounds that it is entitled to the exemptions as a small entity. The financial statements comply with the requirements of the Statement of Recommended Practice - 'Accounting and Reporting for Charities', (SORP 2005), issued in March 2005, applicable accounting standards and Companies Act 1985. (b) Separate funds Incoming and outgoing resources are split between restricted funds, designated funds and other unrestricted funds. Closing funds are categorised in the same way. i) Restricted funds These are funds subject to specific trusts which may have been declared by the funders or with their authority (eg in a public appeal), but still within the objects of VAS. They may be restricted income funds which are expendable at the discretion of the trustees/directors in furtherance of a particular project or objective of VAS. ii) Designated funds These are unrestricted funds which have been designated by the trustees/directors for a particular purpose or project which they have decided to undertake. iii) Unrestricted funds These are expendable at the discretion of the trustees/directors in the furtherance of the objects of VAS. (c) Voluntary income Grants are recognised in the Statement of Financial Activities when the conditions for receipt have been complied with. Grants receivable in respect of certain activities are paid in relation to a given period such as a year end, and in these circumstances, the grants are deferred to the extent that they relate to future accounting periods. (d) Investment income Interest is included when receivable by the charity. _________________________________________________________________page 20 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 1. Accounting policies - continued (e) Incoming resources from charitable activities Income in relation to operating activities is included in the year in which the Charity is entitled to receipt and the amount can be measured with reasonable certainty. In compliance with SORP 2005, all incoming resources received for activities which are in the nature of payment for the provision of goods or services have been combined together under the relevant activity. This includes trading income and those grants (although legally donations) that have conditions which make them similar in economic terms to trading income, such as service level agreements with local authorities. Grants included in this class of income are accounted for using the policies set out in paragraph (c). Grants received for specific projects are accounted for as restricted funds. (f) Seconded staff Where staff are seconded to VAS, the value of their services is reflected in the accounts as income and expenditure. (g) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered, and it is reported as part of the expenditure to which it relates. Expenditure that is directly attributable to specific activities has been included in those cost categories. Other direct costs, which are attributable to more than one activity, are apportioned across categories on the basis of an estimate of the proportion of staff time spent on these activities. Support costs which relate to more than one charitable activity are allocated to those activities based on an assessment criteria of time spent on each activity. Costs of generating funds - This relates to the cost of obtaining the grants referred to in notes (c) and (e). It includes 20% of the Development Director's salary and overheads and direct marketing costs. Charitable activities - These are the direct costs of VAS's work to meet its charitable activities. Governance - This included the direct and indirect costs relating to external audit and to the constitutional and statutory requirements for managing the charity. The following costs have been allocated to governance: 20% of salaries of the Chief Executive, Finance and Buildings Manager and Development Director, together with related office costs. Grants payable - Grants payable are charged in the year when the offer is conveyed to the recipient, except in those cases where the offer is conditional, such as grants being recognised when the conditions attaching are fulfilled. _________________________________________________________________page 21 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 1. Accounting policies - continued (h) Tangible fixed assets Tangible fixed assets are included at original cost, less accumulated depreciation. Depreciation is calculated so as to write off the cost of the fixed assets over their expected useful lives at the following annual rate:Land Buildings Computer equipment Other fixtures Nil 50 years straight line 3 years straight line 10 years straight line Only computer equipment and fixtures costing more than £1,000 is capitalised. (i) Investments Investments are included in the Balance Sheet at market value. investments is shown by way of note. (j) Pension The Charity operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged in the statement of financial activities in the year they are payable. (k) Operating leases Rentals payable under operating leases are charged to the income and expenditure account as incurred over the term of the lease. The historic cost of 2. Incoming resources from generated funds: voluntary income Unrestricted £ Sheffield City Council Revenue Grant - Contribution to core costs NHS Sheffield - Core grant Marjorie Coote Old People's Charity Sheffield Town Trust Samuel Roberts Trust Hugh Neill Charity James Neill Trust Fund Church Burgesses Trust Sundry donations 10,000 8,000 2,400 1,000 1,000 7,000 76 ______ 29,476 ______ Restricted £ 53,509 6,057 ______ 59,566 _______ Total 2009 £ 53,509 6,057 10,000 8,000 2,400 1,000 1,000 7,000 76 ______ 89,042 _______ Total 2008 £ 51,950 5,920 10,000 8,000 3,900 1,000 1,000 7,000 244 ______ 89,014 ______ _________________________________________________________________page 22 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 3. Incoming resources from charitable activities: analysis by activity Income can be analysed over the following activities: Unrestricted Funds £ Core services and accommodation Volunteer Centre Planning and Partnership Community Accountancy and Payroll Services Training Capacity Building and Quality Pioneer Areas Project ICT support 339,251 22,223 616 93,263 166,094 30,404 64,031 _______ 715,882 _______ Restricted Funds £ 55,816 97,126 547,841 146,632 193,980 425,923 45,528 _________ 1,512,846 _________ Total 2009 £ 395,067 119,349 548,457 239,895 360,074 456,327 109,559 _________ 2,228,728 _________ Total 2008 £ 197,607 101,610 356,218 218,987 442,385 409,469 (6,780) 92,359 _________ 1,811,855 ________ An analysis of the sources of this income is shown in note 4. 4. Incoming resources from charitable activities: analysis by funding source 2009 £ Sheffield City Council - Area Based Grant - Strategic Volunteering Sheffield City Council - Neighbourhoods - Planning and Partnership Sheffield City Council - Neighbourhood Renewal Fund - Volunteering Strategy Sheffield City Council - Revenue grants - Volunteer Centre - Community Accountancy Service Sheffield City Council - Other grants - Technical Support (Working Neighbourhoods Fund) - Planning and Partnership (Supporting People) - LINk - Mental Health Training - Technical Support (Neighbourhood Renewal) - SCC Compact Administration - Planning and Partnership (Connexions) SCC Children and Young People's Directorate/Sheffield Children's Fund - BME Communities - Planning and Partnership Carried forward to next page 3,577 46,580 27,573 53,008 56,946 6,416 231,963 37,200 4,000 10,000 28,000 60,000 _______ 565,263 2008 £ 45,670 8,000 26,770 51,464 6,416 36,292 40,919 10,000 28,000 49,973 _______ 303,504 _________________________________________________________________page 23 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 4. Incoming resources from charitable activities: analysis by funding source - continued 2009 £ Brought forward from previous page NHS Sheffield - Mental Health Strategy - Planning and Partnership - Compact - Advisory Forum - Service Development Media Trust - Volunteer Centre Academy for Community Leadership - AfCL Project Yorkshire Forward - Community Accountancy Service - ICT Support Project - South Yorkshire Quality Project Two - Access to Procurement - Legal and Human Resources Project - Training - South Yorkshire Quality Project - AfCL Project - Marketing Project South Yorkshire Voluntary and Community Sector Training Consortium - Open Training Project - VC Train Development Project - Community Outreach Engagement European Regional Development Fund - Legal and Human Resources Project - South Yorkshire Quality Project Big Lottery - New Beginnings - Volunteering for Refugees and Asylum Seekers (Ref: RC/1/010215950) - Restricted fund - Sheffield CAS ­ (Ref: BAS/3/010306075) ­ Restricted fund Capacity Builders - Circle building enhancement - Work Force Development Hub - Access to Procurement - Infrastructure Quality - Good Governance in South Yorkshire - Performance Management Carried forward to next page 565,263 10,000 62,382 36,500 27,000 35,000 18,125 87,745 45,528 60,286 60,535 111,400 131,817 957 22,247 2008 £ 303,504 60,980 40,000 40,000 70,000 2,000 145,404 85,191 52,453 24,354 53,880 67,918 49,931 60,805 17,062 3,652 18,184 21,239 48,443 69,553 5,879 29,992 16,298 46,657 _________ 1,531,030 67,220 7,727 45,924 46,694 70,750 21,277 10,575 37,600 6,300 3,501 _________ 1,394,702 _________________________________________________________________page 24 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 4. Incoming resources from charitable activities: analysis by funding source - continued 2009 £ Brought forward from previous page Netherthorpe and Upperthorpe Community Alliance - Volunteering Strategy A4E - Volunteering Strategy 1,531,030 2008 £ 1,394,702 _________ 1,531,030 133,574 140,182 179,080 244,862 _________ 2,228,728 _________ 1,000 2,000 _________ 1,397,702 89,007 69,339 96,906 158,901 _________ 1,811,855 _________ Rent income Room hire Training course charges Sundry charges 5. Costs of generating funds 2009 £ 22,180 10,694 ______ 32,874 ______ 2008 £ 11,351 2,676 ______ 14,027 ______ Staff costs Other costs _________________________________________________________________page 25 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 6. Resources expended on charitable activities Expenditure can be analysed over the following activities:Activities undertaken directly £ Core services and accommodation Less: Support costs recharged to projects 599,412 Grant funding of activities £ - Support costs £ 427,887 Total 2009 £ 1,027,299 Total 2008 £ 865,916 (209,116) _________ ________ 390,296 105,602 362,461 182,116 238,633 391,088 98,045 _________ 1,768,241 _________ ________ ________ (354,692) (563,808) (482,039) _______ _________ _________ 73,195 463,491 383,877 34,916 96,053 58,778 51,648 92,490 20,807 _______ 427,887 _______ 140,518 458,514 240,894 290,281 483,578 132,694 239,300 218,352 412,418 451,822 3,319 Volunteer Centre Planning and Partnership Community Accountancy & Payroll Services Training Capacity Building and Quality Pioneer Areas Project ICT Support Project 118,852 102,648 _________ _________ 2,196,128 1,944,430 _________ _________ Support costs totalling £427,887 (2008 : £410,163) have been allocated across activities. Costs have been allocated either on the basis of time spent by the departments in supporting the activities, or other usage of the service. 2008 2009 £ £ Finance Personnel ICT Internal Services Executive Management 70,770 45,889 113,754 197,474 _______ 427,887 _______ 68,593 45,519 94,941 201,110 _______ 410,163 _______ _________________________________________________________________page 26 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 7. Governance costs 2009 £ 29,653 2,773 3,499 8,813 ______ 44,738 ______ 2008 £ 28,936 3,048 7,170 10,009 ______ 49,163 ______ Staff costs Related office costs Meeting and annual report costs Audit 8. Grants payable to Institutions 2009 £ 2008 £ Other grants less than £4,000: 4 Institutions (2008 : 3 Institutions) 200 ___ 200 ___ 150 ___ 150 ___ 9. Net outgoing resources for the year is stated after charging: Directors' remuneration (see note 11) Auditors' remuneration Other non-audit services Operating lease rentals in respect of equipment and vehicles Depreciation of fixed assets Loss on disposal of fixed assets 2009 £ 8,813 5,462 8,705 73,399 9,325 2008 £ 10,009 10,038 7,201 73,500 - 10. Employee information and costs 2009 £ 2008 £ Wages and salaries Social and security costs Pension contributions 1,170,628 1,068,035 95,318 89,033 81,656 73,115 _________ _________ 1,347,602 1,230,138 _________ _________ _________________________________________________________________page 27 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 10. Employee information and costs - continued The average number of employees, analysed by function and calculated on a full-time equivalent basis was:2009 Part-time FTE 1.99 1.83 4.18 3.28 4.10 1.40 4.47 0.25 0.58 _____ 22.08 _____ 2008 Total FTE 7.50 2.68 4.55 4.40 6.78 5.09 7.52 1.55 _____ 40.07 _____ Full-time FTE Core Division Volunteer Centre Planning and Partnership Community Accountancy & Payroll Services Building administration Training Capacity Building and Quality Marketing/communications ICT Support Project 5.00 1.08 3.17 1.36 2.67 2.81 2.79 1.48 _____ 20.36 _____ Total FTE 6.99 2.91 7.35 4.64 6.77 4.21 7.26 0.25 2.06 _____ 42.44 _____ The average number of employees during the year was 65 (2008 : 60). No employee earned more than £60,000 per annum (2008 : none). 11. Payments and other benefits to directors None of the directors receive any remuneration in respect of their role as director/trustee of VAS. Travel expenses of £291 were paid during the year to three trustees (2008 : £290 to four trustees). One trustee received £5,140 in respect of consultancy fees re business planning, website and VAN support (2008: £nil). 12. Pension costs VAS makes payments on behalf of employees into individuals defined contributions pension schemes. The assets of these schemes are held separately from those of VAS in independently administered funds. The pension cost charge in the statement of financial activities represents contributions payable by VAS to the funds and amounts to £81,656 (2008 : £73,115). There were no contributions payable at the year end (2008 : nil). 13. Taxation Since VAS is a registered charity, its results for the year are not subject to corporation tax. _________________________________________________________________page 28 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 14. Tangible assets Long leasehold land and buildings £ Computer equipment £ 82,186 ______ 82,186 ______ Other fixtures £ Total £ Cost At 1 April 2008 Additions Disposals At 31 March 2009 4,305,888 _________ 4,305,888 _________ 161,836 4,549,910 29,221 29,221 (11,656) (11,656) _______ _________ 179,401 4,567,475 _______ _________ Depreciation At 1 April 2008 Charge for the year Disposals At 31 March 2009 1,936,888 31,000 _________ 1,967,888 _________ 51,770 25,547 ______ 77,317 ______ 16,184 2,004,842 16,852 73,399 (2,331) (2,331) _______ _________ 30,705 2,075,910 _______ _________ Net Book Value At 31 March 2009 2,338,000 ________ 2,369,000 ________ 4,869 _____ 30,416 _____ 148,696 ______ 145,652 ______ 2,491,565 ________ 2,545,068 ________ At 31 March 2008 15. Investment in group undertaking 2009 £ 2008 £ Shares in group undertaking: Volserve Limited 6 ordinary shares of £1 each 6 ___ 6 ___ This represents a 100% shareholding in Volserve Limited, a company incorporated in England. The company has not traded during the year end it has net assets of £6. Hence, consolidated accounts have not been prepared. _________________________________________________________________page 29 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 16. Debtors 2009 £ 244,970 20,037 262,769 24,921 _______ 552,697 _______ 2008 £ 262,432 21,384 360,534 968 ______ 645,318 _______ Trade debtors Prepayments Grants receivable Other debtors 17. Creditors: amounts falling due within one year 2009 £ 2008 £ Amount held on behalf of other organisations and special projects (see note (a) below) Bank loan Accruals Tax and social security Amounts owed to group undertakings Deferred income - grants received in advance 21,134 32,287 43,128 20,095 6 82,584 _______ 199,234 _______ 2009 £ 16,884 29,391 190,735 24,400 6 60,368 _______ 321,784 _______ 2008 £ (a) Amounts held on behalf of other organisations and special projects: ADHD Conference (on behalf of Family Welfare Association) UK Online Help Yourself Directory South Yorkshire Foundation Bursaries 4,250 7,938 8,914 32 ______ 21,134 ______ 7,938 8,914 32 ______ 16,884 ______ _________________________________________________________________page 30 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 18. Creditors: amounts falling due after more than one year 2009 £ 1,138,513 _________ 1,138,513 _________ 2008 £ 1,170,609 _________ 1,170,609 _________ Bank loan Loan maturity analysis: In In In In less than one year more than one year, but not more than two years more than two years, but not more than five years more than five years 32,287 34,457 117,672 986,384 _________ 1,170,800 _________ 29,391 31,437 108,065 1,031,107 _________ 1,200,000 _________ The bank loan is secured on freehold land and buildings of the company. 19. Restricted funds Balance at 01.04.08 Incoming resources £ 3,577 59,566 22,247 ______ 85,390 ______ 29,992 ______ 45,528 ______ Resources expended £ (3,577) (65,055) (22,247) _______ (90,879) _______ Transfers £ _______ _______ Balance at 31.03.09 £ ______ ______ ______ ______ Core Strategic Volunteering Core Marketing 5,489 _______ 5,489 _______ 279,997 _______ _______ The Circle Building ICT Support Project Volunteer Centre Volunteer Centre Refugee & Asylum Seekers Volunteering Project (35,706) (274,283) _______ _______ (45,528) _______ _______ 3,286 _______ 3,286 _______ 27,573 69,553 ______ 97,126 ______ (32,573) 20,000 15,000 4,031 ______ 19,031 _______ (68,808) _______ _______ (101,381) 20,000 _______ _______ Carried forward to next page 288,772 258,036 (273,494) (254,283) 19,031 _________________________________________________________________page 31 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 19. Restricted funds - cont'd Balance at 01.04.08 Brought forward from previous page Incoming resources £ 258,036 Resources expended £ (273,494) Transfers £ (254,283) Balance at 31.03.09 £ 19,031 288,772 _______ Planning & Partnership SCC LA Compact LINk PCT Advisory Forum PCT Contracting BME (Children & Young Strategy Group) Planning and Partnership PCT Compact Supporting People 40,000 70,000 5,602 27,448 40,000 23,186 _______ 206,236 _______ ________ 4,000 231,963 27,000 35,000 28,000 185,378 36,500 ________ 547,841 ________ ________ (2,490) (170,236) (28,611) (30,484) (200,771) (19,436) (5,870) ________ (457,898) ________ _______ (70,000) _______ (70,000) _______ _______ 1,510 61,727 38,389 35,000 3,118 12,055 57,064 17,316 _______ 226,179 _______ Community Accountancy & Payroll Services Community Accountancy Service Basis Sheffield _______ _______ 18,015 _______ 18,015 _______ 3,501 12,122 162 5,866 4,024 _______ 25,675 _______ 538,698 _______ 140,753 5,879 ________ 146,632 ________ 10,000 16,298 37,200 111,400 19,082 ________ 193,980 ________ 60,286 46,657 180,260 56,946 81,774 ________ 425,923 ________ 1,572,412 ________ (145,753) (5,879) ________ (151,632) ________ (5,000) (16,298) (36,606) (111,400) (19,082) ________ (188,386) ________ (75,286) (46,657) (180,422) (48,980) (81,774) ________ (433,119) ________ (1,504,529) ________ 15,000 _______ 15,000 _______ 20,000 _______ 20,000 _______ 15,000 _______ 15,000 _______ (274,283) _______ 10,000 _______ 10,000 _______ 10,000 15,000 18,609 _______ 43,609 _______ 3,501 12,122 5,866 7,966 4,024 _______ 33,479 _______ 332,298 _______ Training Mental Health Strategy Tailored VCS Workforce Development Hub Mental Health Training Yorkshire Forward Training Academy for Community Leadership Capacity Building & Quality Performance Management Access to Procurement Infrastructure quality South Yorkshire Quality Project Mental Health Self Help NR Technical Support NRCC Outreach - Good Governance in South Yorkshire Legal and Human Resources _________________________________________________________________page 32 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 19. Restricted funds - continued Core Marketing The Circle Building - Funding to support core running costs. Marketing VAS, advertising services and increasing its profile in Sheffield. Funding received to support the development of 'The Circle' building, the balance of which has been transferred into designated Funds (see note 20). All of the other restricted funds relate to specific projects being undertaken by VAS. The projects are shown separately, but categorised into the main activities of VAS. 20. Transfer between funds The balance on the restricted fund regarding The Circle Building has been released because the building process is complete and it is in use for the charity's purposes. The balance has been transferred into the equivalent designated fund within unrestricted funds as shown in note 21. The transfers between restricted funds reflect the reallocation of funds received in the previous year to specific projects with the approval of the funder. 21. Designated funds The unrestricted funds of the Charity include the following designated funds which have been set aside out of unrestricted funds by the Board of Trustees for specific purposes:Balance at 01.04.08 £ Fixed assets The Circle revenue support Provision for mortgage repayments Provision for deficits in core service areas 1,065,071 64,221 240,000 140,000 _________ 1,509,292 _________ Utilised/ New realised Designations £ £ (18,589) (64,221) (21,528) _______ (104,338) _______ Balance at 31.03.09 £ 1,320,765 240,000 Transfers £ 274,283 _______ 274,283 _______ 105,200 223,672 _______ _________ 105,200 1,784,437 _______ _________ Fixed assets are funds which represent the net book value of the fixed assets (£2,491,565) less the amount outstanding on the mortgage relating to the building (£1,170,800). £274,283 of the funds were included in restricted funds at 31 March 2008 but that balance has been transferred into the designated funds this year as explained in note 20. The Circle revenue support are funds set aside to support The Circle building while the rental becomes established. Provision for mortgage repayments are funds set aside to support mortgage repayments in the future. _________________________________________________________________page 33 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 21. Designated funds - continued Provision for deficits in core service areas are funds set aside to support training and other services as required. 22. Analysis of accumulated funds balances between net assets as at 31 March 2009 Unrestricted Funds £ Tangible fixed assets Fixed asset investment Current assets Current liabilities Creditors: amounts falling due in more than one year 6 326,986 (29,274) _______ 297,718 _______ Designated Funds £ 2,491,565 463,672 (32,287) (1,138,513) _________ 1,784,437 _________ Restricted Funds £ 469,971 (137,673) _______ 332,298 _______ Total Funds £ 2,491,565 6 1,260,629 (199,234) (1,138,513) _________ 2,414,453 _________ 23. Statement of movement on unrestricted reserves General reserve £ Balance at 1 April 2008 Net movement in fund Transfer to designated reserve from unrestricted funds Transfer to designated reserve from restricted funds 297,301 1,279 (862) _______ 297,718 _______ Designated reserves £ 1,509,292 862 274,283 ________ 1,784,437 ________ Balance at 31 March 2009 24. Obligations under operating leases At 31 March 2009, the Charity had annual commitments under non-cancellable operating leases as follows:2009 2008 £ £ Within one year Between two and five years 8,705 15,106 ______ 5,944 8,916 _____ 25. Commitments As at the year end, VAS had capital commitments outstanding of £4,788. _________________________________________________________________page 34 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 26. Contingent liabilities regarding pension obligations VAS participates in the Pensions Trust Growth Plan. The Plan is funded and is not contracted out of the state scheme. The Growth Plan is a multi-employer pension plan. Contributions paid into the Growth Plan up to and including September 2001 were converted to defined amounts of pension payable from Normal Retirement Date. From October 2001 contributions were invested in personal funds which have a capital guarantee and which are converted to a pension on retirement, either within the Growth Plan or by the purchase of an annuity. The rules of the Growth Plan allow for the declaration of bonuses and/or investment credits if this is within the financial capacity of the Plan assessed on a prudent basis. Bonuses/investment credits are not guaranteed and are declared at the discretion of the Plan's Trustee. The Trustee commissions an actuarial valuation of the Growth Plan every three years. The purpose of the actuarial valuation is to determine the funding position of the Plan by comparing the assets with the past service liabilities as at the valuation date. Asset values are calculated by reference to market levels. Accrued past service liabilities are valued by discounting expected future benefit payments using a discount rate calculated by reference to the expected future investment returns. The rules of the Growth Plan give the Trustee the power to require employers to pay additional contributions in order to ensure that the statutory funding objective under the Pensions Act 2004 is met. The statutory funding objective is that a pension scheme should have sufficient assets to meet its past service liabilities, known as 'Technical Provisions'. If the actuarial valuation reveals a deficit, the Trustee will agree a recovery plan to eliminate the deficit over a specified period of time, either by way of additional contributions from employers, investment returns, or a combination of these. The rules of the Growth Plan state that the proportion of obligatory contributions to be borne by the Member and the Member's Employer shall be determined by agreement between them. Such agreement shall require the Employer to pay part of such contributions and may provide that the Employer shall pay the whole of them. VAS paid contributions at the rate of 9% during the accounting period. Members paid contributions at the rates between 0% and 10% during the accounting period. As at the balance sheet date there were 26 (2008: 27) active members of the Plan employed by VAS. It is not possible in the normal course of events to identify on a reasonable and consistent basis the share of underlying assets and liabilities belonging to individual participating employers. Growth Plan is a multi-employer scheme where the scheme assets are co-mingled for investment purposes, and benefits are paid from the total scheme assets. Accordingly, due to the nature of the Plan, the accounting charge for the period under FRS17 represents the employer contribution payable. The valuation results at 30 September 2008 have now been completed and will be formalised shortly. The valuation of the Scheme was performed by a professionally qualified actuary using the Projected Unit Method. The market value of the Scheme's assets at the valuation date was £742 million and the Plan's Technical Provisions (i.e. past service liabilities) were £771 million. The valuation therefore revealed a shortfall of assets compared with the value of liabilities of £29 million, equivalent to a past service funding level of 96%. _________________________________________________________________page 35 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 26. Contingent liabilities regarding pension obligations - continued The financial assumptions underlying the valuations at at 30 September 2008 were as follows:% per annum Investment return pre retirement Investment return post retirement Actives/Deferreds Pensioners Bonuses on accrued benefits Rate of price inflation 7.6 5.1 5.6 0.0 3.2 In determining the investment return assumptions, the Trustee considered advice from the Scheme Actuary relating to the probability of achieving particular levels of investment return. The Trustee has incorporated an element of prudence into the pre and post retirement investment return assumptions; such that there is a 60% expectation that the return will be in excess of that assumed, and a 40% chance that the return will be lower than that assumed over the next ten years. If an actuarial valuation reveals a shortfall of assets compared to liabilities, the Trustee must prepare a recovery plan setting out the steps to be taken to make up the shortfall. In view of the small funding deficit and the level of prudence implicit in the assumptions used to calculate the Plan liabilities, the Trustee has prepared a recovery plan on the basis that no additional contributions from participating employers are required at this point in time. In reaching this decision, the Trustee has taken actuarial advice and has been advised that the shortfall of £29 million (as at 30 September 2008) will be cleared within ten years if the investment returns from assets are in line with the 'best estimate' assumptions. 'Best estimate' means that there is a 50% expectation that the return will be in excess of that assumed, and a 50% expectation that the return will be lower than that assumed over the next ten years. These 'best estimate' assumptions are 8.4% per annum pre retirement, 5.1% per annum post retirement (actives and deferreds) and 5.6% per annum post retirement (pensioners). A copy of the recovery plan must be sent to the Pensions Regulator. The Regulator has the power under Part 3 of the Pensions Act 2004 to issue scheme funding directions where it believes that the actuarial valuation assumptions and/or recovery plan are inappropriate. For example, the Regulator could require that the Trustee strengthens the actuarial assumptions (which would increase the scheme liabilities and hence impact on the recovery plan), or impose a schedule of contributions on the Scheme (which would effectively amend the terms of the recovery plan) or impose a schedule of contributions on the Scheme (which would effectively amend the terms of the recovery plan). A copy of the recovery plan in respect of the September 2008 valuation will be forwarded to the Pensions Regulator in due course. The next full actuarial valuation will be carried out as at 30 September 2011. Following a change in legislation in September 2005, there is a potential debt on the employer that could be levied by the Trustee of the Plan. The Trustee's current policy is that it only applies to employers with pre October 2001 liabilities in the Plan. The debt is due in the event of an employer ceasing to participate in the Plan or the Plan winding up. _________________________________________________________________page 36 barber harrison & platt VOLUNTARY ACTION SHEFFIELD LIMITED NOTES TO THE ACCOUNTS - CONTINUED FOR THE YEAR ENDED 31 MARCH 2009 ________________________________________________________________________ 26. Contingent liabilities regarding pension obligations - continued The debt for the Plan as a whole is calculated by comparing the liabilities for the Plan (calculated on a buy-out basis, i.e. the cost of securing benefits by purchasing annuity policies from an insurer, plus an allowance for expenses) with the assets of the Plan. If the liabilities exceed assets, there is a buy-out debt. The leaving employer's share of the buy-out debt is the proportion of the Plan's pre October 2001 liability attributable to employment with the leaving employer compared to the total amount of the Plan's pre October 2001 liabilities (relating to employment with all the currently participating employers). The leaving employer's debt therefore includes a share of any 'orphan' liabilities in respect of previously participating employers. The amount of the debt therefore depends on many factors, including total Plan liabilities, Plan investment performance, the liabilities of current and former employees of the employer, financial conditions at the time of the cessation event and the insurance buy-out market. The amounts of debt can therefore be volatile over time. VAS have been notified by the Pensions Trust of the estimated employer debt on withdrawal from the Plan based on the financial position of the Plan as at 30 September 2008. As of that date, the estimated employer debt for VAS was £224,069 (2007: £98,498). However, it should be emphasised that the VAS Trustees intend to continue contributions into the plan. _________________________________________________________________page 37 barber harrison & platt VOLUNTARY ACTION SHEFFIELD TRUSTEES' ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2009 APPENDIX A ­ ORGANISATIONAL STRUCTURE 2008/9 Trustee Board Personnel Committee Finance & Premises Committee Risk Management Committee Chief Executive Director of Services HR Manager ICT Manager Finance Manager Development Director Community Accountancy & Payroll Services Volunteer Centre Training Department Capacity-Building & Quality Department Planning & Partnership Department Building Services (the Circle) Sheffield LINk _________________________________________________________________page 38 barber harrison & platt VOLUNTARY ACTION SHEFFIELD TRUSTEES' ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2009 APPENDIX B ­ STAFF & VOLUNTEERS 2008/9 Staff (including new starts and leavers) Azizzum Akhtar Yusuf Ali Jane Anslow Rebecca Arden Ian Ashworth Cath Atkinson Martin Bagshaw Julie Beechill Gill Bell Steven Benson Jill Bentley Rhys Bethell Sirinda Bhandal Sharon Bromley Vivienne Brown Jo Cairns Paul Carnell Carron Charlesworth Amy Cliffe Barry Coburn Sarah Coleman Michelle Collins Andrea Cregg Annette Crook Bev Cross Carol Duncan Cheryl Edge Sophia Fara John Farmer Sandra Fox Abigail Goodman Sam Greenstreet Sarah Grindrod Frances Haigh Judith Harrison Paul Harvey Christine Healey Jo Henderson Susan Herrick Heather Hughes Flora Jafarzade Sue James James Kazadi Alexis Kilgariff Becki Laughton Judith Lennox LINk Co-ordinator Community Accountant Partnership Development Manager Community Accountant Quality Development Officer (BME) Supporting People User Engagement Officer IT Support Technician Cleaner Reception & Admin worker Bank support staff (the Circle) Cleaner Reception & Admin Worker ICT Manager Planning & Partnership Officer Quality Development Officer Human Resources Manager Development Director Training Administration & Marketing Officer Bank support staff (the Circle) Community Accountant Facilities & Building Manager Capacity Building & Quality Administrator HR & Core Administrator ICT Development Worker Legal Consultant Community Accountant Bank support staff (the Circle) Payroll Assistant Training Manager Finance Officer Development Officer Volunteer Centre Manager Marketing & Communications Officer LINk Administrator Community Accountancy & Payroll Service Manager Refugee & Asylum Seeker Support Worker Training Support Officer Procurement Support Project Co-ordinator Planning & Partnership Administrator LINK Communications & Information Officer HR Advisor Director of Services New Beginning Volunteer Co-ordinator LINk Development Officer Marketing Officer IT Support Worker/Technician _________________________________________________________________page 39 barber harrison & platt Keith Levy Pauline Lord Roozbeh Mahmid Vimbai Mbedzi Alison McCrave Susan McElhone Marge McKechnie Sayad Mirreh David Mitchell Hannah Norris Christopher Nyabezi Eileen Owen Chao Pang Laura Pitts Rose Poad Kaltum Rivers Damien Sackett Sharon Saunders Elizabeth Searle Naila Shaukat Julia South Pat Stabler Jane Thomas Natalie Thompson Niklas Thoren Tim Wade Winifred Walker Nick Warren Jasmine Warwick Rachael West Ann- Marie Westran Peter Wilde Patrick Wood David Woodall Stephen Wright Anar Zeynalov Small Groups Development Worker Planning & Partnership Team Administrator Volunteering Co-ordinator New Beginnings Volunteer Co-ordinator/ Bank support staff Payroll Manager Bank support staff (the Circle) Human Resources Advisor Cleaning & Facilities Supervisor Capacity Building & Quality Manager Training Administrator Bank support staff (the Circle) Quality Administration & Monitoring Officer Cleaner Reception & Administration Worker Human Resources Manager BME Community Development Officer (Children & Young People) Reception & Administration Worker Volunteer Centre Co-ordinator Reception & Administration Worker Planning & Partnership Officer (Children & Young People) Volunteer Centre Manager Finance & Buildings Manager Building Manager Infrastructure Quality Development Officer LINk Development Officer Cleaner Cleaner Chief Executive Planning & Partnership Officer Reception & Facilities Co-ordinator Cleaning Manager & Evening Concierge Infrastructure Quality Development Officer Mental Health Training Officer Bank support staff (the Circle) LINk Development Officer IT Support Technician Volunteers Community Accountancy: Matthew Chinedu Mary Chung Thomas Harrison Agnieszka Jedrzejczyk Maywan Liu Adenike Ogunfowoke Samson Shikabonga Niranjani Sritharan Human Resources: Rebecca Brookes Volunteer Centre: Bera Azraq Aidaros Bhaaron Jackie Bailey Elizabeth Benedicte Social Bu Keith Cornish Vickie Crofts Khadija Gumati Thaw Htoo Zoreh Gholami Kian Aboubacar Konde Jesica Leather Marwan Mahassen Laith Salih Mahdi Vimbai Mbezi Samantha Miller Fahimeh Nafely Sue Saxby Eileen Taylor Abraham Tesfaselassie Jackie Walton _________________________________________________________________page 40 barber harrison & platt