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2023-03-31-accounts

Life-Ways Annual Report and Financial Statements

REGISTERED COMPANY NUMBER: 03023526 (England and Wales) REGISTERED CHARITY NUMBER: 1050697

Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2023 for Life-Ways

pg. 1

Life-Ways Annual Report and Financial Statements

Contents of the Financial Statements for the year ended 31 March 2023

Page
REPORT OF THE TRUSTEES
Objectives and Core Activities 3
Financial Overview 4
Operational Review 5
Structure, Management and Governance 9
INDEPENDENT EXAMINER’S REPORT 12
FINANCIAL STATEMENTS
Statement of Financial Activities 13
Balance Sheet 14-15
Notes to the Financial Statements 16

pg. 2

Life-Ways Annual Report and Financial Statements

Trustees’ Annual Report including Directors’ Report for the year ended 31 March 2023

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND CORE ACTIVITIES

The company is established:

  1. To promote the relief of sickness and advance the education of the public by the provision of facilities and services to meet the emotional and medical needs of all individuals who require them and to improve the quality of life for such individuals by means of holistic care, services and medicines;

  2. For the advancement of religion;

  3. To make grants to other charitable centres and organisations established for all or any of the objects, as the Trustees may in their absolute discretion determine.

A Council of Members/Trustees manages the charity with the assistance of a full-time executive, parttime reception and administration staff, and voluntary help.

The charity operates from its centre at the registered office and core activities include:

  1. Providing access to a broad spectrum of counselling and complementary therapies in keeping with its objectives;

  2. Arranging and supporting community and awareness events;

  3. Supporting a number of locally based charities that share Life-Ways’ objectives.

Public Benefit

The trustees believe that they have paid due regard to the Charity Commission's guidance on public benefit in deciding what activities the charity should undertake. Over the past twelve months Life-Ways has re-established its services following the lifting of Covid restrictions, and developed new plans and partnerships to broaden and extend delivery of public and social benefit in the future.

pg. 3

Life-Ways Annual Report and Financial Statements

FINANCIAL OVERVIEW

Financial performance

Income from charitable activities was £68,085. This is an increase of 70% over the previous year (2022, £39,967), building the income back up to around 67% of pre-Covid levels.

Income was supplemented by donations of £4,744 (2022, £1,646).

Expenditure on charitable activities increased by 6% to £69,796 (2022, £65,626).

This resulted in a surplus of income over expenditure of £3,038 in the year (2022, £24,013 deficit) before gains / (losses) on investments are taken into account (see below).

Financial reserves and investments

Life-Ways aims to keep sufficient readily accessible funds (cash at bank) available to cover a minimum of six months’ forward expenditure. The balance at the period end was £72,005 (2022, £61,993).

Life-Ways maintains a long-term investment portfolio:

The Trustees have appointed a regulated firm of independent financial advisers (Warwick Financial Solutions Limited) to give professional guidance and help manage the investments on behalf of the Charity.

The Trustees have set a target of low to medium risk for the portfolio, aiming for a 4% to 5% return over the medium to long-term. In the 12 months between 1[st] April 2022 and 31[st] March 2023, the markets have been extremely volatile. Life-Ways’ portfolio made a loss of 5.8% over the period covered by this report. The value of the investments stood at £520,286 at 31[st] March 2023 (2022, £552,276).

pg. 4

Life-Ways Annual Report and Financial Statements

OPERATIONAL REVIEW

Overview

In the aftermath of the Coronavirus pandemic and associated restrictions, Life-Ways trustees have acted to restore the financial security of the charity whilst enhancing its contribution to the community. We have seen a growth in our room-use and a subsequent growth in income as a result and are pleased that activities at Life-Ways are returning to normal. Improvements and renovations to the property made during the pandemic are having a positive impact on our attractiveness as a venue and the benefit we provide to the community. With the finances on a more stable footing, we have been able to commit financial resources and facilities to exciting new partnerships which will further our charitable aims.

Promotion

During the period April 2022 to March 2023 Life-Ways has:

Improvements to house and grounds

Every year an audit of the property is carried out to ensure that the structure and comfort of the building is maintained and improved. Work carried out this financial year was mostly routine maintenance, following the completion of larger projects during Covid lockdowns.

Improvements to the house made this year:

pg. 5

Life-Ways Annual Report and Financial Statements

Improvements to the garden made this year:

During the lockdowns we experienced a considerable growth in the number of volunteers using our outside spaces. All of the maintenance and upkeep of the garden now takes place on a voluntary basis, including:

Therapies

The range and number of therapists working at Life-Ways continued to increase in this financial year. Between April 2022 and March 2023, our bookings increased to 8,855.25 hours from 5,330 hours in the previous financial year.

Charitable and social usage

Lifeways aims to support social and charitable projects through;

a) the provision of low-cost rooms for charitable and not-for-profit organisations, and

b) targeted donations to projects when surplus funds are available.

Rental of rooms in the house is charged at the rate of £8.80 per hour or £6.80 for charities or those seeing clients with low wage or no wage. (Garden rates: £4 and £2 per hour respectively.) We also offer our rooms free-of-charge to some organisations (for example CRUSE Bereavement Care) as we see their work as valuable and matching our aims. Over the 2022/2023 period covered by this report, usage by charitable, Not for Profit (NfP) and community groups increased on the previous year.

Charities, NfP and community groups working at Life-Ways during 2022/23 and paying charity rate include:

pg. 6

Life-Ways Annual Report and Financial Statements

Life-Ways also provides a venue free of charge to the following:

We can calculate the total savings that charities and not-for-profits have made each year from the records we keep. For the previous report (2021/22) we calculated that the savings that charities and not-for-profits made was just £3,046. For the 2022/23 period the amount of savings grew to £ 5,121.

Life-Ways grounds

Life-Ways has beautiful gardens that extend to nearly an acre. They are being used free of charge almost exclusively for community and environmental projects including easy-access spaces for special-needs gardeners, a community allotment space, community-owned chickens, a Permaculture garden and a wildlife area with beehives. The whole garden is maintained on a voluntary basis by local people and Life-Ways therapists.

Over the period covered by this report Life-Ways garden has been used as a therapy and social meeting space by local groups and individuals. We have allotment spaces, a wood-fired pizza-oven, communityowned rescue chickens, and we welcome visitors throughout the day who are in need of a quiet space.

We’ve also hosted community events, including:

pg. 7

Life-Ways Annual Report and Financial Statements

In October 2022, Lifeways Community Garden was presented with Stratford-in-Bloom’s Chair’s Award for “an exceptional garden, run by and benefitting the local community.”

Future Plans

In June 2022, Life-Ways Trustees gathered to put down their thoughts on the future of the charity and how we wish to benefit the community over the next five years. This resulted in a framework for funding regular projects, focussing primarily on the mental health of young people which is currently in crisis due to long waiting times for referrals to NHS services (CAHMS and IAPT). The Trustees agreed that the best way we can support young people is to partner with local charities and organisations who share our vision and are already serving the local community. The ultimate aim is to develop several such partnerships over the next five years.

The financial priority for Life-Ways management and staff over the coming months will be to increase levels of income towards pre-pandemic levels. Current room letting rates will be examined, with the aim of protecting Life-Ways’ long-term economic sustainability and boosting our ability to support local charitable causes.

Work will continue to ensure that the fabric of the building is maintained and that energy efficiency and reduction of our environmental footprint is encouraged as much as possible.

pg. 8

Life-Ways Annual Report and Financial Statements

STRUCTURE, MANAGEMENT AND GOVERNANCE

Life-Ways is a Company Limited by Guarantee registered with Companies House, Number 3023526, incorporated on 17th February 1995. Life-Ways is established as a charity and was registered with the Charity Commission, Number 1050697, on 15th November 1995.

The charity's address is 30 Albany Road, Stratford-upon-Avon, Warwickshire CV37 6PG. The charity's governing documents are its Memorandum of Association and Articles of Association.

Registered Company number

03023526 (England and Wales)

Registered Charity number

1050697

Registered office

30 Albany Road Stratford upon Avon Warwickshire CV37 6PG

Trustees

J Ewing G M Fletcher S Hershon M S Phillips (Chair) J C Wibberley (Company Secretary) M S Clausen

Independent Examiner

Teresa Fennell ACMA CGMA

It Doesn't Have to Cost the Earth Ltd Chartered Management Accountants 47 St Dunstans Close Worcester, WR5 2AJ

pg. 9

Life-Ways Annual Report and Financial Statements

Management, personnel and systems

Since the last Life-Ways annual report, James Pavitt has continued as Manager for Life-Ways. James is employed for 35 hours per week, but also volunteers his time at Life-Ways, both in the office and in LifeWays garden. He maintains the books at Life-Ways on a daily basis, with additional support from the Treasurer.

Esther Rambaud was employed as office support for 12 hours per week, until she left for new employment on May 13[th] 2022. Lifeways subsequently employed Lucy McLeod to provide office support from May 9[th] 2022 and she has been continuing in the role for the rest of this financial year. Lucy is employed for 16 hours per week and also volunteers her time at Life-Ways.

Life-Ways has also continued to develop its policies and has now has the following policies agreed by the Trustees:

During the period covered by this report, we also collated a register of Trustees Interests and now open each meeting with a declaration of interests on agenda items.

Payroll services are kindly provided free of charge by Counters Consulting Limited, Chartered Management Accountants, Turnpike Gate House, Alcester Heath, Alcester, Warwickshire, B49 5JG.

The 2023 financial statements have been prepared by Trustee and Treasurer, John Wibberley, with additional guidance from the external Independent Examiner, Teresa Fennell ACMA GCMA.

pg. 10

Life-Ways Annual Report and Financial Statements

Statement of Trustees’ responsibilities

The trustees (who are also the directors of Life-Ways for the purposes of company law) are responsible 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). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 1985. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 7[th] December 2023 and signed on its behalf by:

Mark Phillips Mark Phillips (Dec 13, 2023 10:26 GMT)

M S Phillips Director and Chair of the Trustees

pg. 11

Life-Ways Annual Report and Financial Statements

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE LIFE WAYS CHARITABLE COMPANY (‘THE COMPANY’) FOR THE YEAR ENDED 31 MARCH 2023

I report to the trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report

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

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

Independent examiner’s statement

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

  1. accounting records were not kept in accordance with section 386 of the Companies Act 2006; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other

  4. than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

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

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

Date : 13/12/2023

Teresa Fennell, ACMA CGMA

It Doesn’t Have to Cost the Earth Ltd

47 St Dunstans Close, Worcester, WR5 2AJ

pg. 12

Life-Ways Annual Report and Financial Statements

Life-Ways Company No: 03023526 Charity No: 1050697

Statement of Financial Activities including Income and Expenditure Account

For the Period 1 April 2022 to 31 March 2023

31 March 2023 31 March 2023 31 March 2023 31 March 2022 31 March 2022
Notes Unrestricted
funds
Restricted
Funds		 Total
funds		 Unrestricted
funds
Total funds
(restated)
£ £ £ £ £
Income and endowments from:
Donations and Legacies
2		 4,744 -
4,744		 1,646 1,646
Charitable Activities
3		 68,085 -
68,085		 39,967 39,967
Investments
4		 4 -
4		 0 0
Total 72,834 -
72,834		 41,613 41,613
Expenditure on:
Raising Funds 0 -
0		 0 0
Charitable Activities
5		 69,796 -
69,796		 65,626 65,626
Total 69,796 -
69,796		 65,626 65,626
Net income/(expenditure) before
gains/(losses) on investments		 3,038 -
3,038		 (24,013) (24,013)
Transfer between funds -
-
-		 -
-
Unrealised gain/(loss) on
investments		 (31,990) -
(31,990)		 2,360 2,360
Net movement infunds (28,952) -
(28,952)		 (21,653) (21,653)
Reconciliation of funds:
Total funds brought forward 914,212 -
914,212		 935,865 935,865
Totalfunds carriedforward
12		 885,260 -
885,260		 914,212 914,212

The notes on pages 16 to 22 form an integral part of the financial statements.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

pg. 13

Life-Ways Annual Report and Financial Statements

Life-Ways Company No: 03023526 Charity No: 1050697

Balance Sheet

Balance Sheet
Section B Balance
sheet
Note Unrestricted Total Unrestricted
funds		 Total Funds
s funds Funds
£ £ £ £
Fixed assets
Tangible Assets 8 289,861 289,861 298,621 298,621
Fixed Asset Investments 9 520,286 520,286 552,276 552,276
Totalfixed assets 810,147 810,147 850,897 850,897
Current assets
Cash at bank and in hand 10 72,005 72,005 61,993 61,993
Debtors 11 9,526 9,526 6,159 6,159
Total current assets 81,531 81,531 68,152 68,152
Creditors: amounts falling due
within one year		 12 (6,417) (6,417) (4,837) (4,837)
Net current(liabilities)/assets 75,113 75,113 63,315 63,315
Total assets less current liabilities 885,260 885,260 914,212 914,212
Total net assets 885,260 885,260 914,212 914,212
Funds of the Charity
Restricted funds 13
13		 - - - -
Unrestricted funds 885,260 885,260 914,212 914,212
Totalfunds 885,260 885,260 914,212 914,212

The notes on pages 16 to 22 form an integral part of the financial statements.

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

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

Cont…

pg. 14

Life-Ways Annual Report and Financial Statements

The directors acknowledge their responsibilities for ensuring that the charitable company keeps accounting records which comply with section 386 of the Companies Act and for preparing accounts which give a true and fair view of the state of the affairs of the charitable company as at the end of the financial year and of its results for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the charities Statement of Recommended Practice and Financial Reporting Standard 102 section 1A.

The financial statements were approved by the Board of Trustees and authorised for issue on 7th December 2023 and were signed on its behalf by:

Mark Phillips Mark Phillips (Dec 13, 2023 10:26 GMT)

MARK STEPHEN PHILLIPS Director and Trustee (Chair)

Life-Ways

Company No: 03023526 Charity No: 1050697

pg. 15

Life-Ways Annual Report and Financial Statements

Notes to the Financial Statements

1) Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of accounting

The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)),the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2016.

The charity has applied the exemption available to small charities in the Charities SORP (FRS 102) and does not include a Statement of Cash Flows in these Financial Statements.

Life-Ways meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting notes.

b) Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c) Fund accounting

The Charity maintains various types of funds as follows:

Unrestricted Funds: The general funds represent unrestricted income which is expendable at the discretion of the Trustees in the furtherance of the objectives of the Charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted Funds: Funds which the donor has specified are solely to be used for particular activities or projects.

d) Income

All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the income, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income from charitable activities includes income earned from trading activities to be used to undertake activities to further the objects of the charity. Income is received in exchange for supplying goods and services and is recognised when entitlement has occurred.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees' Annual Report.

e) Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. All expenditure directly relates to the objects of the Charity and is shown inclusive of VAT.

pg. 16

Life-Ways Annual Report and Financial Statements

f) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, governance costs and administration costs. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs have been allocated to activities on a basis consistent with the use of the resources. The basis on which support costs have been allocated are set out in note 6.

g) Tangible Fixed Assets

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following annual rates calculated to write off each asset over its estimated useful life as follows:

Freehold property - 2% Straight Line Plant and machinery - 15% on reducing balance Fixtures, fittings and equipment - 15% on reducing balance

h) Fixed Asset Investments

All gains and losses are taken to the Statement of Financial Activities as they arise. Unrealised gains are calculated as the difference between the market value at the year end and opening market value.

i) Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount due after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provision are normally recognised at their settlement amount after allowing for any trade discounts due.

k) Corporation Tax

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a Charity for UK Corporation Tax purposes. It therefore does not suffer tax on income or gains applied for charitable purposes.

l) Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

m) Key estimates and accounting judgements

In applying the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Trustees’ judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

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

pg. 17

Life-Ways Annual Report and Financial Statements

n) Statement of Financial Affairs - Income classification and restatement of prior year.

Income from therapies, workshops and courses has been shown under "Income from Charitable Activities". In previous years this was shown under "Other trading activities". The 2022 comparatives have been restated in line with this reclassification, which was adopted after taking professional advice.

2) Income from Donations and legacies

Donations and gifts
Grants
Legacies
3) Income from Charitable Activities
Grant income
Therapies, workshops & courses
4) Realised Income from Investments
Bank interest		 Unrestricted
funds
Restricted
funds
2023
Total funds
£
£
£
4,744
4,744
-
-
4,744
-
4,744
Unrestricted
funds
Restricted
funds
2023
Total funds
£
£
£
-
68,085
68,085
68,085
-
68,085
Unrestricted
funds
Restricted
funds
2023
Total funds
£
£
£
4
4
4
-
4		 2022
Total funds
£
1,646
-
-
1,646
2022
Total funds
£
2,536
37,431
39,967
2022
Total funds
£
-
-

pg. 18

Life-Ways Annual Report and Financial Statements

5) Analysis of Charitable Activities

5) Analysis of Charitable Activities
breakdown for review / consideration
Direct Charitable Activities:
Staff Costs (see Note 7)
Pensions
Charitable donations
Support Costs:
Staff Costs (see Note 7)
Rates and water
Insurances
Light & heat
Telephone
Postage & stationery
Advertising & marketing
Sundries
Cleaning
Repairs & Maintenance & equipment
expensed
Computer & IT
Depreciation (see Note 8)
Bank Charges
Governance:
Accountancy fees
Independent Examination
Other legal & professional
Staff Training and Welfare
Total Charitable Activities
7) Employees
Salaries and Wages
Social Security costs
Pensions		 Basis of
Allocation
Direct
Direct
Direct
Usage
Usage
Usage
Usage
Usage
Usage
Usage
Usage
Usage
Usage
Usage
Usage
Direct
Direct
Direct
2023
£
35,719
1,111		 Unrestricted
funds
£
35,719
1,111
2,011
1,095
981
1,536
600
589
650
801
4,475
8,400
1,570
9,079
72		 Restricted
funds
2023
Total funds
2022
Total funds
£
£
£
35,719
34,560
1,111
1,250
2,011
370
-
1,095
3,260
981
853
1,536
1,742
600
759
589
735
650
365
801
1,064
4,475
2,891
8,400
6,505
1,570
9,079
9,147
72
-
68,689
63,501
-
1,800
850
57
0
200
325
-
1,107
2,125
-
69,796
65,626
2022
£
34,560
1,250
35,810
68,689
850
57
200
1,107
69,796
36,830

No employees received employment benefits for the reporting period of more than £60,000 (2022: none).

Average headcount in the year

2023 2022
Admin 2 2

pg. 19

Life-Ways Annual Report and Financial Statements

8) Tangible Fixed Assets

Freehold
Property
£
COST
At 1 April 2022
395,032
Additions
At 31 March 2023
395,032
DEPRECIATION
At 1 April 2022
104,104
Charge for year
7,901
At 31 March 2023
112,005
NET BOOK VALUE
At 31 March 2022
290,928
At 31 March 2023
283,027
9) Fixed Asset Investments
MARKET VALUE
At 1 April 2022
Realised and unrealised gains (losses)
Market value of investments at 31 March 2023
Historical cost of investments
Cash held by investment manager
Total value of investments at 31 March 2023		 Freehold
Property
£
395,032		 Plant and
Machinery
Fixtures and
Fittings
£
£
13,392
9,742
319		 Totals
£
418,166
319
395,032 13,711
9,742		 418,485
104,104
7,901		 12,273
3,168
192
986		 119,545
9,079
112,005
290,928		 12,465
4,154
1,119
6,574		 128,624
298,621
283,027 1,246
5,588		 289,861
2023
£
552,276
(31,990)
520,286
350,800
-
520,286		 2022
£
549,916
2,360
552,276
350,800
-
552,276

pg. 20

Life-Ways Annual Report and Financial Statements

Investments at market value comprise of:
Managed funds (equities, bonds, gilts)
Cash and Cash Products
Total Market value of investments at 31 March 2023
There were no investment assets outside the UK.
10) Cash and cash equivalents
Unrestricted
£
Bank account - CAF
3,141
Bank Account - Current
68,864
Cash in hand
-
Total Cash at Bank and in Hand
72,005
11) Debtors and Prepayments
Unrestricted
£
Accounts receivable
8
Accrued income
7,536
Prepayments
1,982
Total
9,526
12) Analysis of current liabilities
Analysis of creditors: falling due within one year		 Investments at market value comprise of:
Managed funds (equities, bonds, gilts)
Cash and Cash Products
Total Market value of investments at 31 March 2023
There were no investment assets outside the UK.
10) Cash and cash equivalents
Unrestricted
£
Bank account - CAF
3,141
Bank Account - Current
68,864
Cash in hand
-
Total Cash at Bank and in Hand
72,005
11) Debtors and Prepayments
Unrestricted
£
Accounts receivable
8
Accrued income
7,536
Prepayments
1,982
Total
9,526
12) Analysis of current liabilities
Analysis of creditors: falling due within one year		 2023
£
454,798
65,488
520,286
2023
Restricted
Total
£
£
3,141
68,864
-		 2022
£
493,652
58,624		 2022
Total
£
61,993
-
-
552,276
72,005 -
72,005		 61,993
Unrestricted
£
8
7,536
1,982		 2023
Restricted
Total
£
£
8
7,536
1,982		 2022
Total
£
289
5,639
231
9,526 -
9,526		 6,159
Accounts payable
PAYE & National Insurance
Independent Examiner's Fee
Accruals
Other creditors
Total		 2023
Unrestricted
Restricted
Total
£
£
£
3,679
3,679
1,317
1,317
850
850
432
432
140
140
6,417
-
6,417		 2022
£
1,403
1,506
1,800
128
4,837

pg. 21

Life-Ways Annual Report and Financial Statements

13) Assets represented by each fund

Fixed Assets
Investments
Current Assets
Current Liabilities
Total net assets at 31 March 2023		 Unrestricted
Funds
Restricted
Funds
Total Funds
2023
2023
2023
£
£
£
289,861
-
289,861
520,286
-
520,286
81,531
-
81,531
(6,417)
-
(6,417)
885,260
-
885,260		 Total
Funds
2022
£
298,621
552,276
68,152
(4,837)
914,212

14) Movement in funds

this information populates from the SOFA
Restricted Funds
Unrestricted Funds
Total Funds
Prior Year Comparative
Restricted Funds
Unrestricted Funds
Total Funds		 Balance at 31
March 2022
Income
Expenditure
Revaluation
of
Investments
Balance at
31 March
2023
£
£
£
£
-
-
-
0
0
-
-
-
-
-
914,212
72,834
(69,796)
(31,990)
885,260
914,212
72,834
(69,796)
(31,990)
885,260
914,212
72,834
(69,796)
(31,990)
885,260
Balance at 31
March 2021
Income
Expenditure
Revaluation
of
Investments
Balance at
31 March
2022
£
£
£
£
£
-
-
-
-
-
-
-
0
0
0
935,865
41,613
(65,626)
2,360
914,212
935,865
41,613
(65,626)
2,360
914,212
935,865
41,613
(65,626)
2,360
914,212

15) Trustees' expenses and remuneration and related party transactions

The Trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2022: £nil).

pg. 22