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2020-03-31-accounts

Lifeworks Charity Limited

(A Charitable Company Limited by Guarantee)

Annual Report and Financial Statements

For the year ended 31 March 2020

Company Number: 03177139 Charity Registered in England and Wales Number: 1054167

Lifeworks Charity Limited Contents For the year ended 31 March 2020

Page
Reference and Administrative Details 1
Trustees’ Report 2 – 16
Independent Auditors’ Report to the Members 17 – 19
Statement of Financial Activities 20
Balance Sheet 21
Statement of Cash Flows 22
Notes to Financial Statements 23 – 37

Lifeworks Charity Limited Reference and Administrative Details For the year ended 31 March 2020

Trustee Directors P J J Clarkson – Chair P J J Clarkson – Chair
B Avery
M J Boon
C Jenkins
Chief Executive R Hanlon (until May 2019)
B Harty (from May 2019)
Charity Director J Parsons
Charity Number 1054167
Company Number 03177139
Principal Address and Registered Office Blackers
Park Road
Dartington Hall
Totnes
Devon
TQ9 6EQ
Auditors Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
Bankers Lloyds Bank plc
Fore Street
Totnes
Devon
TQ9 5HH
National Westminster Bank plc
Courtenay Street
Newton Abbot
Devon
TQ12 2EE
Solicitors Nash & Co Solicitors LLP
Beaumont House
Beaumont Park
Plymouth
PL4 9BD

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Page 1

Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

The Trustees, who are also directors of the Charity for the purposes of the Companies Act, present their annual report (incorporating the directors report as required by company law) and audited financial statements For the year ended 31 March 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements, comply with the Charity’s governing document, applicable law and the requirement of the Statement of Recommended Practice, “Accounting and Reporting by Charities” (SORP FRS 102) (implemented 1 January 2019), and are in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Lifeworks Charity Limited is a charity and a charitable company and is variously referred to throughout this report as either “the Charity” or “the Company”. The Charity operates under the name of “Lifeworks”. It was incorporated 25 March 1996 as a company limited by guarantee, governed by a memorandum and articles of association. The charity was previously named “The Bidwell Brook Foundation Limited” but changed its name on the 15 February 2013 to “Lifeworks Charity Limited”. Its company number is 03177139 and its Charity registration number is 1054167. The registered office is Blacklers, Park Road, Dartington Hall, Totnes, Devon, TQ9 6EQ.

References and Administrative Details

Administrative information is given in a separate section at the front of these accounts.

Directors and Trustees

The directors of the Company are the Charity’s trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees.

The Trustees serving during the period and since the period end are as follows:

None of the Trustees have any beneficial interest in the Company. All of the Trustees are members of the Company and guarantee to contribute £10 in the event of a winding up.

Structure, governance and management

The Board of Trustees (“BOT”) oversees the administration of the Charity and meet formally a minimum of four times during the year. In addition, a number of strategy meetings took place during the year with Trustees and members of the Senior Lifeworks Team (considered to be the Key Management Personnel).

A Finance Sub-Committee reports to the Board and two Trustees attended its meetings during the year.

Day to day management of the Charity is delegated to the Chief Executive, who delivers this alongside the Senior Leadership Team. The Trustees take advice from external professionals dependant on the nature of the support that they need.

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

The charity uses a variety of methods for attracting Trustees which include recommendations and external and internal advertising. The charity mainly advertises in the volunteering community and on our website.

In terms of the process, the charity asks for a CV, from there it is usual for the candidate to meet on an informal basis with the Chief Executive (CEO). Once this has happened they would be asked to complete an application form and are invited to an interview which is usually attended by the CEO, HR Manager and representation from the BOT. Standard safer recruitment practices are applied in line with policy and procedure which includes obtaining 2 satisfactory references and an enhanced DBS check. In addition to this they are also required to complete a declaration of eligibility.

All new Trustees receive a Charity Induction which includes visiting the service areas and being introduced to staff. They also undertake a number of e-learning courses which include safeguarding, MCA & DOLS and GDPR. The most recent tranche of Trustees have also attended governance training which will become part of any new Trustees induction in the future.

As part of the Charity Induction they will meet with each Director so that they are able to gain an understanding of the role, this will include both financial and operational aspects.

The arrangements for setting the pay and remuneration of Key Management Personnel

Senior executive pay is linked to that of other directors and is set after considering organisation turnover, number of employees, in-job risk, pay of other directors and any other benefits and incentives and benchmarking within the charitable sector using identified pay surveys such as ACEVO.

Pay scales for managers, administration support staff, care team and ancillary staff are bench marked against comparable roles, level of relevant qualifications and ability to recruit within the locality.

Public Benefit

The Trustees have due regard for the Charity Commission’s guidance on public benefit and have completed a public benefit review and concluded that the activities during the year are in accordance with the Charitable Objectives of the Charity and satisfy the requirements of identifiable benefit to the public.

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

Objectives & Activities

The object of the Charity is to provide support to individuals with learning disabilities through the provision of services and advice aimed at improving the conditions of their lives, their families, and their futures.

Lifeworks’ vision is to support people with learning disabilities to have a great life.

Lifeworks’ mission is to create opportunities for people with learning disabilities and their families so that they can reach their full potential and are engaged with and be valued by their communities.

We achieve this by delivering aspirational activities and services and we work in partnership with others to ensure the right support is provided at the right time in the right way. We are a learning organisation so we invest in our staff and believe that everything we do must be outstanding for those who use our services, their families and those who invest in us. We deliver support through ambitious needs-led services in care, education, community projects and sport.

Robins Respite and Life Skills Centre opened in Dartington in 1999 and was funded and built by Lifeworks with full ownership of the freehold. It has full registration with The Office for Standards in Education (Ofsted). Its mission is to provide short breaks to children with learning disabilities up to 20 years of age, in a caring, welcoming and engaging environment. The aim is to develop independence, confidence and self-esteem and for families to have time off. It is open 7 days a week for 52 weeks of the year and offers overnight, 24 hour or short break stays. At present, it has 6 bedrooms for short breaks and supports families from all over the South West who, without this provision, would struggle to continue caring for their child. Robins gives carers the break that helps keep families together.

Robins also offers 4 full-time residential beds in two separate apartments. These beds are primarily offered to local children who cannot be cared for at home by their family. This allows them to stay in the area, continue at the same school, support their continuity and stability and keep them in touch with their family, friends and community.

Revenue funding for both the short breaks and longer term residential placements is mainly commissioned by the local authority placing the child, but we rely on fundraising to develop Robins and improve the facilities for the children staying with us.

Sesame is a residential house for adults with learning disabilities. It is situated in Torquay and has 4 bedrooms. The house was bought by Lifeworks and opened as a care home in September 2009 after a major refurbishment programme. It has full registration with the Care Quality Commission (CQC). Its mission is to continue the support we give families by providing full residential care for adults.

Sesame provides care in a safe and accessible home and aims to move these adults towards a more independent and fulfilling life by continuing their learning and engaging with a broad range of activities in the community.

Revenue funding is through the local authority placing the person but we fundraise to develop both the environment and the community involvement to enhance the independent outcomes of the people living with us.

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

Objectives & Activities (continued)

Our Specialist College of Further Education is based in Dartington and opened in September 2011. It is a specialist college for students aged 16 to 25 years with a range of learning disabilities. It is fully registered with The Department of Education, has been accredited by the Education and Skills Funding Agency (ESFA) and is inspected by Ofsted. It offers a comprehensive programme of personal, social and vocational education on a day basis. The college rents its own buildings but also accesses the community for activities and work placements. Staff work closely with the students’ families, local businesses and outside agencies to deliver its main outcomes of independence, personal development, employment and community involvement.

Student places are funded through Local Authority FE commissioning, the ESFA and DWP funding for supported internships. We fundraise to develop the facilities and a growth plan so we can support more students in the future.

Community Projects.

Community projects is the umbrella title for all our community activities which brings together Kool Clubs, Holiday Projects, Breaking the Barrier and the Young Volunteers Programme. There is planned expansion and growth within these programmes and additional initiatives to allow young people greater access to community activities that link to transition and preparing for adulthood.

Kool Club. The first club opened in 1999. The Kool Club ethos is to provide a recreational and educational youth club for teenagers with learning disabilities by providing diverse opportunities for socialising, developing friendships, offering support for families and carers and progressing skills essential for independent living. The clubs run on Saturdays from a day centre and are staffed by experienced Lifeworks staff. The wide range of activities support the young people to access the community and bring together what has been learnt at school and home to support their transition into being an active member of their local community.

The clubs are funded through direct payments, commissioning, parental contributions and fundraising .

The Holiday Project is a programme of weekly activities during the school holidays. The programme is developed in partnership with young people aged 12-18 plus a wide network of activity providers and cultural venues across Devon. It provides recreational and leisure opportunities across each school holiday that enrich and extend experiences and offer young people with learning disabilities a sense of community, belonging and independence.

Breaking the Barrier is a sport inclusion project whose ethos can be used within any sport to break open opportunities for young people who find it difficult to access these sports because of their learning disabilities. Breaking the Barrier surf days are an annual programme in which we provide free surfing experiences. The aim is to encourage personal on-going surfing activities and support surf schools with the teaching of children with a learning disability through training, advice and equipment. We also offer other sport inclusion events, such as paddleboarding days, regular cycling events at Torbay Velopark and sailing on the River Dart, to enlarge the options and to empower young people with learning disabilities in sport.

The events are funded by a package of fundraising initiatives and sponsorship.

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

Objectives & Activities (continued)

Young Volunteers Programme is an initiative in which Lifeworks provides mentorship and training to enable participants to develop their vocational interest, to undertake work experience placements as they progress towards employment, and for the organisations they are placed with to become Disability Confident employers.

The programme was funded during 2019 by the Department for Work and Pensions for 18+ and fundraising initiatives for under 18.

Lifeworks Central Services comprises operations management and administration including Finance, Fundraising and Human Resources. The central team supports the service managers with marketing, fundraising for existing and future programmes and events, plans and manages all the charity’s activities with the support and scrutiny of the Senior Leadership Team.

That team has a strategic planning brief, overseeing all operational and financial activities and reporting to the Trustees. They are responsible for submitting bids to charitable trusts, foundations and corporate bodies as well as contracting with local authorities and government departments.

The base in Dartington also provides office accommodation for the Community Projects team.

Impact and achievements

ROBINS

This continues to be the largest provider of residential respite over-night short breaks in the South West for children with learning disabilities. It continues to be well managed and have a highly motivated and expert caring staff team. Robins meets the needs of families by personalised respite planning and often by reacting to their requirements at short notice and being flexible. This year Robins provided full time residential placements for 4 young people within the two apartments and short breaks for 25 children and families. We have also been able to provide a number of crisis overnight short breaks. Many of the young people have additional needs to their learning disability, such as autism and life limiting conditions.

Key Impacts

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

SESAME

This continues to be a happy and well managed home. There continues to be a committed and stable staff team who work together to achieve some excellent outcomes for the residents.

The service provides a safe and caring home for a maximum of 4 people. During the year one bed was vacant but the three residents received high quality, personalised support characterised by individual activities and a lot of fun.

Key Impacts

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

SPECIALIST COLLEGE OF FURTHER EDUCATION

This continued to successfully support people aged 16 – 25 to prepare for adulthood. Our key goal as a College is to provide opportunities for learning so that students are confident and equipped to enter their adult lives with more independence and opportunity. We equip students to gain confidence across many areas, from sports to the arts as well as the world of work.

The 2018/19 academic year ended with all students achieving their outcomes and a very successful end-of year Celebration Day attended by parents and visitors. There were 15 students during the course of the year.

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

Key Impacts

COMMUNITY PROJECTS

This continued to provide a wide range of programmes and activities to give young people the chance to make and meet up with friends, improve their health, try new activities and be enabled to achieve their best futures. These include our Kool Clubs, Breaking the Barrier events, The Young Volunteers programme and our Holiday Projects. Many of these are delivered in partnership with arts and leisure organisations.

Key Impacts

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

During the autumn half-term we ran the Ordinary Extraordinary Art Festival event. This was a great weekend of creative activities and performances focusing on Loneliness, which were curated, led and delivered by the young people with learning disabilities. The event was managed through a partnership comprising local arts organisations and other social care providers and included a morning workshop at which the Mayor of Totnes and Sarah Wollaston MP were in attendance.

The projects are evaluated through the Warwick and Edinburgh Mental Wellbeing Scale which demonstrated that of the participants involved:

All the above was only possible through the ongoing creativity and dedication of the staff team who enabled a total of 234 individual young people aged 8 - 25 to participate in Community Projects during the year.

COVID-19

Obviously, the greatest challenge to our services and operations as a charity took place at the end of March 2020 with the national lockdown due to coronavirus.

As a result of government instruction and guidance, our services were affected as follows:

Community Projects – with all face to face meetings being prohibited, Kool Club and the Holiday Programmes had to be suspended. This meant that the young people who normally benefitted from these services were very isolated at home with no school and no weekend/holiday activities. Their families also had no short breaks provision which created pressure at home for some.

The Community Projects team developed a very creative and innovative new service, based entirely online, called Safe Space. This is a secure online platform through which the young people can participate in a range of sessions ranging from cookery, music, dance, arts/crafts to mindfulness. The activities are provided by accredited session leaders through the online platform and all the activities are moderated by members of the staff team to ensure our safeguarding policies and practice are upheld at all times.

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

Further Education College - Along with other education providers, the College was closed when the government closed schools in March. Fortunately, this was very near to the Easter holidays so the impact of the closure on students was minimised. After the Easter break, the majority of the staff worked from home and students were provided at their homes with resources and work which could be completed to ensure they were still able to receive their academic awards.

Robins – the four residential beds were kept open but the short breaks provision had to be suspended. This was to protect the four residents for whom Robins is their only home and to protect the staff from working with different children where we were not able to verify if they were symptomatic or not. With appropriate risk management measures in place, the short breaks service was re- opened on a phased basis from May 2020.

Sesame – due to the health vulnerabilities of the residents, the service went into full lockdown. The staff team switched to a two weeks on/one week off rota providing the same staff team for the duration of these shift patterns. This was an entirely voluntary and commendable decision by the staff team themselves and ensured that the virus did not get into the home. This was gradually adapted in the summer of 2020 and the service has now returned to normal staffing patterns.

The charity implemented robust risk management measures and contingency plans to be able to continue to operate throughout the Covid-19 risks and the entire staff team needs to be honoured for their commitment, dedication, personal sacrifices and hard work to keep the services, the people we support and our colleagues safe during these unprecedented times.

WEBBERS YARD

This is a site in Dartington which was purchased the previous year. This was for a new building development comprising an enlarged College facility and bringing Central Services and Community Projects onto the same site.

During the year a Building Working Group was formed, including representatives from the relevant teams, to develop a building brief. This was subsequently given to a local firm of architects commissioned to develop design options for the site. A planning consultant was also commissioned to start the process of a full planning application.

With Covid-19 the entire process was deferred until later in 2020.

FUNDRAISING

Our fundraising efforts continue so that we are able to deliver projects that enable the people whom we support to access valuable activities that promote engagement with their local community and encourage transformation from social and economic disadvantage.

Our aim is to achieve complete confidence and public trust by demonstrating good stewardship of funds and demonstrating positive impact for our beneficiaries. To realise this, our approach is to ensure the key principles of honesty, respect, integrity, transparency and responsibility are embedded in all our fundraising activities. We are committed to ethical fundraising to encourage sustainable giving and fully comply with the Fundraising Regulator’s Code of Fundraising Practice.

Lifeworks recognises the Fundraising Regulator’s guidance designed to protect donors, charity supporters and the public from intrusive fundraising practices. Our fundraising activity does not involve working with any third party, commercial participators or professional fundraisers.

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

Lifeworks is enormously grateful on behalf of its beneficiaries for all of its wonderful volunteers, supporting organisations, trusts and foundations for the generosity, time and energy they commit to us as supporters, friends, and donors. Without this many of the invaluable opportunities we offer to our beneficiaries would not be possible.

Special thanks must also go out to Lifeworks staff and trustees who volunteer their spare time to be involved in our fundraising events and also to support the delivery of events such as Breaking the Barrier, ensuring their success.

OUR STAFF

The trustees acknowledge that the greatest asset the charity has is its staff team. Lifeworks employs 105 contracted full and part time staff across all areas of the business. It supports the ongoing learning opportunities and career advancement of its staff through diplomas, the Care Certificate and individual and team training programmes.

During the year we became fully accredited as a Disabled Confident Leader, joining just 2% of employers across the UK. We strive to make the most of the talents people with disabilities can bring to the workplace and benefit from their diverse skills, experiences and views.

We believe that our staff deserve a fair day's pay for a hard day's work and, for that reason, we are one of over 5,000 businesses across the UK committed to paying the real Living Wage regardless of the job that people do or how old they are. Our rates of pay are higher than the governments minimum wage.

We are a committed Mindful Employer. By signing the ‘Employers Positive about Mental Health’ charter, we have made a public declaration of our ambition to support the mental wellbeing of our staff and not make assumptions about a person with a mental health condition and their ability to work.

We hope our objectives will help to improve our recruitment and retention, as well as demonstrating our commitment to all our staff, commissioners and beneficiaries as being an ethical employer.

Lifeworks also offers a wide range of volunteering opportunities for members of the local community. In addition, through our Young Volunteers Programme, we are able to offer volunteering opportunities to young people with learning disabilities as a pathway towards employment.

BOARD OF TRUSTEES

As a charity, we seek to become learning disability champions by supporting, promoting, caring for, advocating for and giving a voice to people with learning disabilities. That is what we do and want to become known for.

We are pleased to have recruited a new Chief Executive, to have strengthened the Board with new trustees and we are excited about the new Strategic Plan. This sets the trajectory for the future direction of the charity with plans for growing and extending our profile and reach in the region.

Our motivation is to be able to offer access for all, increase the number of beneficiaries we support, further enhance the quality of all our services and to improve our financial sustainability in an increasingly challenging economic climate for the charitable sector. These ambitions have informed our Reserves Policy.

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

SUMMARY OF ACHIEVEMENTS IN 2019/20

LIFEWORKS STRATEGIC PLAN OBJECTIVES APRIL 2020 – MARCH 2021

Our key themes for the year ahead comprise the following:

Services

Staff

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

Central Services

Marketing

Governance

(* = objectives which can/need to be deferred to 2021/22 due to CV19 impact and revised service priorities)

Financial Reserves and Review

Results for the period show net income after deprecation of £142,844 (2019: net income £65,712). Total funds at 31 March 2020 stood at £2,297,734 of which £38,000 is restricted and £1,142,576 relates to fixed assets and can only be realised by disposing of the assets, this therefore leaves unrestricted free reserves at £1,117,158.

Designated funds

A formal review of our policy on reserves took place at the meeting of the trustees on 22 September 2020 our reserves policy focuses on the level of its 'free' reserves.

Our unrestricted free reserves which are not specifically designated against fixed assets at 31March 2020 were £1,117,158.

The Trustees believe that establishing a designated fund equivalent to between a minimum of four and maximum of six months trading will provide sufficient resources to withstand any short term adverse economic conditions the charity may encounter. Trustees have designated £900,000 which is equivalent to four months trading income.

In addition to fulfil our capital and development requirements during the forthcoming twelve months £160,000 has been designated as detailed below;

A maximum of £57,158 of ‘free reserves’ are available to be invested into Lifeworks projects at the discretion of the Board of Trustees.

As a separate matter and after adjusting for creditors and restricted funding should cash reserves fall below £900,000 that would trigger an immediate review of income and expenditure to ensure no further cash loss. Our plans to ensure the above objectives are maintained and our undesignated free reserves increased are reviewed as part of our Risk Register.

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

Risk

The Board of Trustees takes seriously their duty to avoid exposing the charity to undue risk, however their approach to this is not becoming risk averse but instead to adopt responsible management of risks.

Lifeworks uses a model for assessing risk and to draw attention to the distinction between risks that arise from a financial situation and risks arising in other ways that can be seen as non-financial, even if ultimately they have a financial impact.

Our approach towards resolution to risk is to establish an atmosphere that empowers individuals to highlight uncertainty and raise risk as and when they observe them. Lifeworks acknowledges that risk management is a dynamic process and will ensure that new risks are addressed as they arise and monitoring will be cyclical so as to establish how previously identified risks may have changed.

Statement of Trustees’ Responsibilities

The trustees (who are directors of Lifeworks Charity Limited for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (incorporating the Directors’ Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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 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 maintaining proper accounting records which 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 2006. They 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.

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Lifeworks Charity Limited Trustees’ Report For the year ended 31 March 2020

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Auditors

The auditors, Albert Goodman LLP, are deemed to be re-appointed under Section 487(2) of the Companies Act 2006.

By order of the Trustees.

C Jenkins Trustee Date: 7 January 2021

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Lifeworks Charity Limited Independent Auditors' Report to the Trustees and Members For the year ended 31 March 2020

Opinion

We have audited the financial statements of Lifeworks Charity Limited (the 'charitable company') For the year ended 31 March 2020, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

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Lifeworks Charity Limited Independent Auditors' Report to the Trustees and Members For the year ended 31 March 2020

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report included within the Trustees’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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Lifeworks Charity Limited Independent Auditors' Report to the Trustees and Members For the year ended 31 March 2020

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities set out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

P N Hake FCCA Goodwood House Senior Statutory Auditor Blackbrook Park Avenue for and on behalf of Taunton Albert Goodman LLP Somerset Chartered Accountants TA1 2PX Statutory Auditor

Date: 24 January 2021

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Lifeworks Charity Limited Statement of Financial Activities (including the Income and Expenditure Account) For the year ended 31 March 2020

Note
Income:
Donations
3
Charitable activities
4
Other trading activities
3
Investments
3		 Unres-
tricted
£
133
2,497,091
-
4,199		 Res-
tricted
£
42,544
192,056
1,353
-		 2020
Total
£
42,677
2,689,147
1,353
4,199		 Unres-
tricted
£
900
2,296,666
526
5,405		 Res-tricted
£
38,484
162,215
1,666
-		 2019
Total
£
39,384
2,458,881
2,192
5,405
Total income 2,501,423 235,953 2,737,376 2,303,497 202,365 2,505,862
Expenditure:
Expenditure on charitable
activities
5
Interest payable
Total expenditure
Net income
before transfers
2
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 2,319,368
505
2,319,873
181,550
(26,967)
154,583
2,105,151
2,259,734		 274,659
-		 2,594,027
505
2,594,532
142,844
-
142,844
2,154,890
2,297,734		 2,202,497
1,506
2,204,003
99,494
(27,811)
71,683
2,033,468
2,105,151		 236,147
-		 2,438,644
1,506
274,659 236,147 2,440,150
(38,706)
26,967		 (33,782)
27,811		 65,712
-
(11,739)
49,739		 (5,971)
55,710		 65,712
2,089,178
38,000 49,739 2,154,890

The statement of financial activities has been prepared on the basis that all operations are continuing operations. There were no gains or losses arising in the period that are not shown above.

The statement of financial activities incorporates the income and expenditure account.

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Page 20

Lifeworks Charity Limited – Company Registration Number: 03177139 Balance Sheet As at 31 March 2020

----- Start of picture text -----
2020 2019
£ £
Note
Fixed assets
Tangible fixed assets 8 1,142,576 1,184,275
Current assets
Debtors 9 196,314 121,290
Cash at bank and in hand 1,176,603 1,227,023
1,372,917 1,348,313
Liabilities:
Creditors: falling due within one year 10 (217,759) (327,495)
Net current assets 1,155,158 1,020,818
Total assets less current liabilities 2,297,734 2,205,093
Creditors: amounts falling due after
than one year 11 - (50,203)
Total net assets 2,297,734 2,154,890
The funds of the charity:
Restricted funds 12 38,000 49,739
Unrestricted funds
Designated funds 12 2,202,576 1,970,905
Unrestricted funds 12 57,158 134,246
2,259,734 2,105,151
Total charity funds 2,297,734 2,154,890
----- End of picture text -----

The financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Approved by the Board and authorised for issue on 15 December 2020 and signed on its behalf by:

C Jenkins M J Boon Trustee Director Trustee Director

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Page 21

Lifeworks Charity Limited Statement of Cash Flows For the year ended 31 March 2020

Notes
Cash flows from operating activities
Net movements in funds for the year
Adjustments to cash flows from non-cash items
Depreciation and amortisation
8
Loss on disposal of fixed assets
Finance expense
Finance Income
3
Working capital adjustments
(Increase) / decrease in debtors
9
(Decrease) / increase in creditors
10
Net cash flow from operations
Cash flows from investing activities
Interest received
3
Purchase of fixed assets
8
Cash flows from financing activities
Interest paid
Repayments of long term loans
Net (decrease) / increase in cash and cash equivalents
Cash and cash equivalents at the beginning of
the reporting period
Cash and cash equivalents at the end of the
reporting period		 2020
£
142,844
57,587
-
505
(4,199)
196,737
(75,024)
(97,069)
24,644
4,199
(15,888)
(11,689)
(505)
(62,870)
(63,375)
(50,420)
1,227,023
1,176,603		 2019
£
65,712
53,198
-
1,506
(5,405)
115,011
23,508
96,593
235,112
5,405
(313,604)
(308,199)
(1,506)
(12,667)
(14,173)
(87,260)
1,314,283
1,227,023

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Page 22

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

1 Accounting policies

The principle accounting policies adopted in the preparation of the financial statements are:

1.1 Basis of accounting

The Financial Statements have been prepared in accordance with 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) – (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Lifeworks Charity Limited 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 policy note(s). All amounts are presented in £ sterling.

1.2 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

1.3 Income

Donations and other voluntary income are recognised on receipt.

Income from grants, where ‘capital’ or ‘revenue’ , is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Where no conditions are attached to grant income they are recognised within donations and gifts and where conditions relating to performance of services are attached, grant income is recognised within charitable activities in the Statement of Financial Activities.

Income from charitable activities is included in the period in which the charity is entitled to receipt, it is probable that economic benefits will flow to the entity and the amount can be reliably measured. Where income is received in advance of provision of services, income is deferred until the criteria for income recognition is met. Where income has not been received and services have been provided, income is accrued.

Income from other trading activities includes income relating to fundraising and is included in the Statement of Financial Activities when receivable.

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Page 23

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

1.4 Expenditure

Resources expended are recognised on the accruals basis to match the period in which the expenditure was incurred.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Certain expenditure is directly attributable to specific activities and has been included in those activity categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories as follows:

The charity operates a defined contribution pension scheme. Contributions are recognised in the SOFA in the period in which they become payable in accordance with the rules of the scheme.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life as follows:

Leasehold land and buildings Over term of the lease (125 years) Freehold buildings 50 years straight line Fixtures, fittings and equipment 5 years straight line Motor vehicles 5 years straight line Office equipment 4 years straight line

Trade debtors and accrued income are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Creditors

Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due.

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Page 24

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

1.11 Deferred income

Deferred income comprises income received in advance of the provision of charitable activities. Deferred income is recognised within income in the Statement of Financial Activities when the conditions for income from charitable activities recognition are met.

1.12 Financial instruments

The charity has financial assets and liabilities that qualify as basic financial instruments. The assets and liabilities include cash, debtors and creditors which have separate accounting policies above. A further financial instrument relates to bank loans which are initially recognised at transactions value and subsequently measured at amortised cost using effective interest method. Interest payable on bank loans are charged through the profit and loss account as interest payable.

1.13 Fund accounting

Funds held by the charitable company are one of the following types:-

1.14 Taxation

As a registered charity, the company is exempt from corporation tax and capital gains tax, but not Value Added Tax. Irrecoverable Value Added Tax is included in the costs of those items to which it relates.

1.15 Operating leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease. The charity has an operating lease for the head office and FE college premises. The title of the leased premises remains with the lessor.

1.16 Covid-19

The Trustees have considered the implication of the Covid-19 pandemic on the operations of the charity. A robust risk assessment was carried out adhering to Government guidance, at the outset of Covid-19. Safeguarding our beneficiaries being our number one priority, it has been necessary to restrict and adapt the delivery of some of our services, which has had substantial financial impact on the charity. However, through considered financial management, the assistance of COVID specific grants and Government COVID funding administered by LA Commissioning teams, the Trustees believe that the charity remains a financially sustainable business and no adjustments to the accounts are necessary.

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Page 25

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

2
Net income/ (expenditure) before transfers

Net incoming resources for the period are stated after charging
Pension costs
Depreciation
Auditors’ remuneration
Audit fee
Other services		 2020
£
67,146
57,587
5,800
1,203		 2019
£
48,666
53,198
5,780
2,243

3 Income (excluding charitable activities income)

Unres-
tricted		 Res-
tricted		 2020 Total Unres-
tricted		 Res-
tricted		 2019 Total
Donations
Other trading activities
Fundraising events
Investments
Bank interest		 £ £ £ £
133
-
4,199
4,332		 42,544
1,353
-
43,897		 42,677
1,353
4,199
48,229		 900
526
5,405
6,831		 38,484
1,666
-
40,150		 39,384
2,192
5,405
46,981

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Page 26

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

4
Incoming resources from charitable activities		 4
Incoming resources from charitable activities		 4
Incoming resources from charitable activities
Fees for care services
Robins Respite Centre
Robins Residential care
Sesame Residential care
Fees for college
Further Education College
Fees for other projects
Kool Club fees
Summer School fees
Community projects
Grants receivable
The Arts Council
BBC CIN
Sobell foundation
Lottery- Awards for all
Heritage Lottery Fund
Co-op Foundation
Daytrippers (Legacy grant)
Morrisons Foundation
Devon County Council
Small Grants Scheme
Edward Gosling
Santander Discovery
Norman Family Trust
Other (Under £2,000)
Total		 Unres-
tricted
£
565,418
778,610
440,636
1,784,664
709,778
-
-
2,650
2,650
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,497,091		 Res-
tricted
£
-
-
-
-
-
37,250
24,661
240
62,151
17,200
37,990
32,000
10,000
-
-
10,000
-
-
5,000
5,000
-
-
12,715
129,905
192,056		 2020 Total
£
565,418
778,610
440,636
1,784,664
709,778
37,250
24,661
2,890
64,801
17,200
37,990
32,000
10,000
-
-
10,000
-
-
5,000
5,000
-
-
12,715
129,905
2,689,147		 Unres-
tricted
£
565,492
544,166
498,185
1,607,843
683,707
795
(285)
4,126
4,636
-
-
-
-
-
-
-
-
-
-
-
-
-
480
480
2,296,666		 Res-
tricted
£
-
-
-
-
-
32,524
16,803
1,240
50,567
-
22,000
32,000
10,000
10,000
10,000
-
9,739
5,000
5,000
-
4,859
1,000
2,050
111,648
162,215		 2019 Total
£
565,492
544,166
498,185
1,607,843
683,707
33,319
16,518
5,366
55,203
-
22,000
32,000
10,000
10,000
10,000
-
9,739
5,000
5,000
-
4,859
1,000
2,530
112,128
2,458,881

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Page 27

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

5 Charitable activities expenditure

2020
Robins
Sesame
FE college
Other community and holiday projects
Premises costs
2019
Robins
Sesame
FE college
Other community and holiday projects
Premises costs		 Direct
staff costs
£
603,931
361,266
289,252
115,433
-
1,369,882
Direct
staff costs
£
508,170
339,833
284,962
74,658
-
1,207,623		 Other
direct costs
£
389,228
101,849
244,817
98,958
93,367
928,218
Other
direct costs
£
285,275
205,001
145,054
116,424
153,328
905,082		 Support
costs
£
98,581
49,370
54,801
60,165
33,009
295,926
Support
costs
£
103,201
44,434
51,677
45,082
81,545
325,939		 2020
Total
£
1,091,740
512,485
588,870
274,556
126,376
2,594,027
2019
Total
£
896,646
589,268
481,693
236,164
234,873
2,438,644

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Page 28

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

5 Charitable activities expenditure (continued)

Analysis of support costs

The charity initially identifies the costs to its support functions. Having identified the support costs, they are then apportioned between the five (2019: five) key charitable activities undertaken (see above) in the year. Refer to the table below for the basis of apportionment and the analysis of the support costs.

----- Start of picture text -----
Basis of 2020 2019
apportionment £ £
Salaries, wages & related costs Time spent 240,239 251,146
General office and administration Turnover or time spent 48,684 66,770
Audit fees Turnover 5,800 5,780
Accountancy fees Turnover 1,203 2,243
295,926 325,939
----- End of picture text -----

6 Trustee directors

None of the Trustee Directors (or any persons connected) received any remuneration during the period, and none were reimbursed any expenses (2019 - £nil).

7 Employees

Number of employees

The average monthly head count of employees during the period was:

2020
£		 2019
£
Provision of care services
Fundraising, publicity and development of the charity
Operation of youth club
Administration
Education		 51
2
8
6
16		 55
3
7
8
14
83 87

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Page 29

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

7 Employees (continued)

----- Start of picture text -----
2020 2019
£ £
Wages and salaries 1,454,837 1,334,967
Social security costs 85,638 101,011
Pension costs 67,146 48,666
Termination payments 2,500 57,432
-
Redundancy payments 7,891
1,610,121 1,549,967
----- End of picture text -----

No employee received remuneration of more than £60,000 in the period (2019 – nil).

During the prior year, total costs of £7,891 were paid in respect of two employee redundancies. The amounts were full and final with no outstanding amounts at the balance sheet date.

During the prior year, termination payments were accrued. £2,500 was accrued for one employee in respect of a settlement agreement and £54,932 was accrued for one employee in respect of redundancy and Payment In Lieu of Notice. The amounts are full and final and have been accrued at the prior year balance sheet date.

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £67,146 (2019 - £48,666).

Contributions totalling £7,479 (2019 - £5,520) were payable to the scheme at the end of the period and are included in creditors.

Key management personnel

The key management personnel of the charity are considered to be the Chief Executive and the Charity Director (2019: the Chief Executive, the Charity Director and the Operations Director). The total costs to the charity of employee benefits for the key management personnel were £125,019 (2019: £219,294).

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Page 30

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

----- Start of picture text -----
8 Tangible fixed assets
Leasehold Freehold Fixtures Office Motor
Land & Land & Fittings & Equipment Vehicles Total
Buildings Buildings Equipment
£ £ £ £ £ £
Cost
At 1 April 2019 250,500 1,142,909 100,630 37,221 139,867 1,671,127
Additions 4,835 - 11,053 - - 15,888
At 31 March 2020 255,335 1,142,909 111,683 37,221 139,867 1,687,015
Depreciation
-
At 1 April 2019 298,271 48,390 34,405 105,786 486,852
Charge for the year 850 22,258 18,628 5,658 10,193 57,587
Reclassification - - 7,910 (7,910) - -
At 31 March 2020 850 320,529 74,928 32,153 115,979 544,439
Net book value
At 31 March 2020 254,485 822,380 36,755 5,068 23,888 1,142,576
At 31 March 2019 250,500 844,638 52,240 2,816 34,081 1,184,275
----- End of picture text -----

Freehold land and buildings includes land donated by Dartington Hall Trust and Devon County Council. This land was valued at £30,000 by the Trustees during the year ended 31 December 1998 as an estimate of its market value, and is not depreciated.

Leasehold land and buildings comprises land held under a 125 year lease.

9
Debtors
Trade debtors-fees receivable
Other debtors and prepayments		 2020
£
157,491
38,823		 2019
£
114,868
6,422
196,314 121,290

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Page 31

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

10 Creditors: Amounts falling due within one year

10
Creditors: Amounts falling due within one year
Trade creditors
Other creditors
Accruals
Bank loans and overdrafts
Taxation and social security		 2020
£
22,274
126,938
6,780
-
61,767
217,759		 2019
£
83,223
114,462
64,212
12,667
52,931
327,495

At the balance sheet date the charity was holding no funds received in advance (2019: none).

11 Creditors: Amounts falling due after more than one year

Creditors: Amounts falling due after more than one year
Bank loans
Loan maturity analysis
In less than one year
In more than one year but not more than five years
In more than five years		 2020
£
-
-
-
-		 2019
£
50,203
12,667
50,203
-

The bank loan was repaid in full in August 2019.

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Page 32

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

12
Summary of movement in funds		 12
Summary of movement in funds
2019
Restricted funds
Community
Projects Development
Extraordinary Young People
Morrisons Foundation
BBC CIN
Lottery- Awards for all
The Arts Council
Daytrippers
Total Restricted funds
Unrestricted funds
Designated:
Robins respite centre
Sesame
Other fixed assets
Premises fund
Vehicle acquisition
Operational reserve
General
Total Unrestricted funds
Total funds		 Opening
Balance
01.04.19
£
-
40,000
9,739
-
-
-
-
49,739
498,926
282,227
340,252
49,500
-
800,000
1,970,905
134,246
2,105,151
2,154,890		 Income
£
160,763
-
-
37,990
10,000
17,200
10,000
235,953
-
-
-
-
-
-
-
2,501,423
2,501,423
2,737,376		 Expenditure
£
(154,730)
(40,000)
(9,739)
(37,990)
(5,000)
(17,200)
(10,000)
(274,659)
-
-
-
-
-
-
-
(2,319,873)
(2,319,873)
(2,594,532)		 Transfers
£
26,967
-
-
-
-
-
-
26,967
47,680
(7,055)
(19,454)
70,500
40,000
100,000
231,671
(258,638)
(26,967)
-		 Closing
Balance
31.03.20
£
33,000
-
-
-
5,000
-
-
38,000
546,606
275,172
320,798
120,000
40,000
900,000
2,202,576
57,158
2,259,734
2,297,734

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Page 33

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

12 Summary of movement in funds (continued)

2019
Restricted funds
Community
Projects Development
Extraordinary Young People
Hedley Foundation
Morrisons Foundation
BBC CIN
Lottery- Awards for all
Heritage Lottery Fund
Co-op Foundation
Total Restricted funds
Unrestricted funds
Designated:
Robins respite centre
Sesame
Other fixed assets
Premises fund
Capital replacements
Operational reserve
General
Total Unrestricted funds
Total funds		 Opening
Balance
01.04.18
£
22,120
32,000
1,590
-
-
-
-
-
55,710
501,448
289,283
57,601
300,000
40,000
800,000
1,988,332
45,136
2,033,468
2,089,178		 Income
£
108,626
32,000
-
9,739
22,000
10,000
10,000
10,000
202,365
-
-
-
-
-
-
-
2,303,497
2,303,497
2,505,862		 Expenditure
£
(158,557)
(24,000)
(1,590)
-
(22,000)
(10,000)
(10,000)
(10,000)
(236,147)
-
-
-
-
-
-
-
(2,204,003)
(2,204,003)
(2,440,150)		 Transfers
£
27,811
-
-
-
-
-
-
-
27,811
(2,522)
(7,056)
282,651
(250,500)
(40,000)
-
(17,427)
(10,384)
(27,811)
-		 Closing
Balance
31.03.19
£
-
40,000
-
9,739
-
-
-
-
49,739
498,926
282,227
340,252
49,500
-
800,000
1,970,905
134,246
2,105,151
2,154,890

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Page 34

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

12 Summary of movement in funds (continued)

The restricted funds are:

The designated funds are:

The unrestricted general fund consists of funds which the charity may use for its charitable purposes at its discretion.

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Page 35

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

13 Analysis of assets between funds

----- Start of picture text -----
Unres- Res- Unres- Res-
2020 Total 2019 Total
tricted tricted tricted tricted
£ £ £ £ £ £
- -
Tangible fixed assets 1,142,576 1,142,576 1,184,275 1,184,275
Current assets 1,117,158 38,000 1,155,158 971,079 49,739 1,020,818
Non-current liabilities - - - (50,203) - (50,203)
2,259,734 38,000 2,297,734 2,105,151 49,739 2,154,890
----- End of picture text -----

14 Financial commitments

At 31 March 2020 the charity was committed to making the following future minimum rental payments under non-cancellable leases as follows:

----- Start of picture text -----
2020 2019
£ £
Operating leases:
Premises:
Within one year 70,271 72,283
2-5 years 48,134 118,126
118,406 190,409
----- End of picture text -----

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Page 36

Lifeworks Charity Limited Notes to the Financial Statements For the year ended 31 March 2020

15 Financial instruments

15
Financial instruments		 15
Financial instruments		 15
Financial instruments
2020
£		 2019
£
Financial assets that are debt instruments measured at 1,360,804 1,341,891
1,360,804
1,341,891
Financial liabilities measured at amortised cost 155,992 324,767
2020 Income
£		 Expense
£		 155,992
Net gains
£
324,767
Net losses
£
Financial assets measured at - - - -
amortised cost
Financial liabilities measured at - 505 - -
amortised cost
2019		 - 505 -
-
Financial assets measured at
amortised cost
Financial liabilities measured at		 - - - -
- 1,506 - -
amortised cost - 1,506 -
-

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Page 37