Lifeworks Charity Limited (A Charitable Company Limited by Guarantee) Annual Report and Financial Statements For the Period 1 April 2023 to 31 August 2024 Company Number: 03177139 Charity Registered in England and Wales Number: 1054167
Lifeworks Charity Limited Contents For the Period 1 April 2023 to 31 August 2024 Pa Reference and Administrative Details Trustees, Report 3-13 Independent Auditors, Report to the Members 14-17 statement of Financial Activities 18 Balance Sheet 19 Statement of Cash Flows 20 Notes to Financial Statements 21-34
Lifeworks Charity Limited Reference and Administrative Details For the Period 1 April 2023 to 31 August 2024 Trustee Directors P J J Clarkson - Chair M A W Alderson B Harty S Puleston A Vaughan Senior Leadership Team Chief Executive Head of Finance & Governance Head of People & Culture Head of Operations Head of College L Fraser-crewes J Parsons A Gavin S Gonsti K Dorow (until 31 July 2024) (until 31 December 2023) (until July 2023) Charity Number 1054167 Company Number 03177139 Principal Address and Registered Office Lescaze OfFices Room 33 Shinners Bridge Dartington Totnes Devon TQ9 6JD Auditors Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA12PX Bankers Lloyds Bank plc Fore Street Totnes Devon TQ9 SHH National Westminster Bank plc Courtenay Street Newton Abbot Devon TQ12 2EE Produced by Albert Goodman LLP Page 1
Lifeworks Charity Limited Reference and Administrative Details For the Period 1 April 2023 to 31 August 2024 Solicitors Nash & Co Solicitors LLP Beaumont House Beaumont Park Plymouth PL4 9BD Produced by Albert Goodman LLP Page 2
Lifeworks Charity Limited Trustees, Report For the Period 1 April 2023 to 31 August 2024 The Trustees. who are also directors of the Charity for the purposes of the Companies Act, present their annual report (incorporating the director5 report as required by company law) and audited financial statements for the period from 1 April 2023 to 31 August 2024. 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 Lescaze Offices Room 33, Shinners Bridge, Dartington. Totnes. Devon, TQ9 6JD. 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: M A W Alderson P J J Clarkson R Crompton B Harty C Laithwaite S Puleston R Nathan A Savage A Vaughan (appointed 9 May 2023) Chair (resigned 8 July 2024) (resigned 20 December 2024) (appointed 19 July 2023) (resigned 17 July 2023) (resigned 15 July 2023) (appointed 3 December 2024) 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 overnance and mana ement The Board of Trustees ("BOT") oversees the administration of the Charity and meet formally a minimum of four times during the year. In addition. the CEO holds Trustee Update meetings via Teams four times during the year, between full Board meetings. Alongside these, 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 and a College Governance Sub-committee both report to the Board and two Trustees per sub-committee attended its meetings during the year. Produced by Albert Goodman LLP Page 3
Lifeworks Charity Limited Trustees, Report For the Period 1 April 2023 to 31 August 2024 Day to day management of the Charity is delegated to the CEO & Senior Leadership Team. The Trustees take advice from external professionals dependant on the nature of the support that they need. 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. There is a Trustee Recruitment policy in place, and in terms of the prosS, the charity asks for a CV, from there it is usual for the candidate to meet on an informal basis with the CEO or SLT. 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 Chair of the Board and another Trustee. Standard safer recruitment practices are applied in line with policy and procedure which includes obtaining two 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 stsff. They also undertake a number of e-learning courses which include safeguarding, MCA & DOLS and GDPR. Trustees also attend governance training which fomis part of their Induction. During the period under review, like many other charities. the organisation faced a number of challenges, particularly financial. This led to changes in the structure of the Senior Leadership Team with a phased reduction in the number of roles, most notably that of Chief Executive. The remaining SLT comprises the Head of Finance and the Head of College together with regular support and direct oversight by the Trustees. The arran ements for settin the and remuneration of Ke Mana ement 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 charitsble sector. 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. Lifeworks is a Real Living Wage employer. 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 identifiab5e benefit to the public. Produced by Albert Goodman LLP Page 4
Lifeworks Charity Limited Trustees, Report For the Period 1 April 2023 to 31 August 2024 Ob'ectives & Activities The organisation is a charitable company limited by guarantee. incorporated on the 25" March 1996.The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. 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 for an inclusive Society where there is true equity, and where people with learning disabilities are valued, accepted and empowered to fulfil their potential. Lifeworks, mission is to create opportunities for people with learning disabilities to have a great life. 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 and community projects. Achievements and Performance Overview Lifeworks Charity has been in a period of consolidation and refocus. We took the decision to change direction and on 31 October 2024 the Residential Children's service was transferred to another provider. This has allowed us to concentrate on expanding our Further Education College, opening access for students from neighbouring local authority areas, increasing the number of student internships as well as diversifying our Day Services offer. This has made our services more accessible and increases the number of children, young people. young adults and families we are able to support, ensuring we reach those who need us most and in a more cost-effective way. Robins On 31 October 2023, 24 years after opening Lifeworks ceased delivering services at Robins. The business was transferred to a new provider, DCC (Devon County Council), and continues to provide full-time residential placements and overnight short breaks. Most of the staff transferred over to DCC, supporting a smooth transition for the children, young people and their families. During those 24 years we are proud to say we supported in the region of 250 young people and their families. Sesame Sesame is a 4-bedroom residential house in Torquay for adults with learning disabilities. The house was bought by Lifeworks in 2009. and after a major refurbishment. opened in its current format as a Care Home, providing a home from home environment. This beautiful home sits in a quiet, yet conveniently set, location in Torquay and provides a calm environment to enjoy an independent lifestyle with the support of 24-hour care. Its mission is to continue the support we give families by providing full residential care for adults with learning disabilities. Its aim is providing care in a safe and accessible home and to support these adults towards a more independent and fulfilling life by continuing their learning in the homes, development of independent living skills, as well as engaging with a broad range of activities in the local community. We are committed to maintaining a consistent approach to the running of Sesame in line with our charity values.. person-centered, respecfful. kind, positive, trustworthy and courageous. ensuring our residents experience a caring home environment, and we are supporting them to achieve their very best futures. Produced by Albert Goodman LLP Page 5
Lifeworks Charity Limited Trustees, Report For the Period 1 April 2023 to 31 August 2024 The home has full registration with the Care Quality Commission (CQC). Revenue funding comes from Devon County Council and Torbay & Devon NHS Foundation Trust, who commission and place the people we support. In addition, the charity fundraises to develop both the environment and the community involvement to enhance the independent outcomes of the people living with us. Residents, and relatives, voices are crucial in influencing how we run our services, and we strive to ensure that these continue to shape how we work and the services we provide. A range of family activity days have now also been implemented to ensure we continue to support residents where possible to have positive engagements with their relatives, here within their home. Key Impacts: Sesame continues to be a happy and well managed home. The committed and stable staff team who work together to achieve excellent outcomes for the residents. The service provides a safe and caring home for a maximum of 4 people. We are at full capacity and all residents are happy and thriving. December 2023 CQC Inspection outcomes: Good Overall effectiveness: GOOD Safe: Good Effective: Good Caring: Good Responsive: Good Well-led.. Good Lifeworks Colle Lifeworks College is a small specialist independent Further Education College, which opened in 2011, that provides a safe and supportive learning environment for young people from the ages of 16 to 25 who have learning disabilities and hold an Education, Health and Care Plan. The college is located in a beautiful village environment, with a strong community spirit, close to the town of Totnes in South Devon. It offers a comprehensive programme of personal, social and vocational education on a daily basis. Staff work closely with the students, families. local businesses, and outside agencies, to deliver its main outcomes for learners of independence, personal development, employment and community involvement. It is fully registered with the Department of Education, funded by the Education and Skills Funding Agency (ESFA), Local Authority SEND Commissioning, and is inspected and graded by Ofsted. The college provides an aspirational curriculum, offering a comprehensive programme of personal. social and vocational education, along with a strong enrichment programme. which includes a range of active wellbeing and creative sessions. and tutorials. All students undertake a work placement, and these are placed in relation to their chosen career path and suitable location. Students are also provided with opportunities to attend residentials and extracurricular activities. The curriculum is tailored to meet the needs of the individual, ensuring all students are supported to reach their full potential. There is a strong student voice through the established Student Council, and these, along with the Parent Forum, and employers, help to shape the development of the curriculum and study programme. Staff work closely with the students, familieslcarers, 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 SEND commissioning, and the ESFA. Produced by Albert Goodman LLP Page 6
Lifeworks Charity Limited Trustees, Report For the Period 1 April 2023 to 31 August 2024 Key Impacts.. Achievement Rate Retention Rate Pass Rate ProviderAchi8Yamant Rato Prawder Retention Rat8 Provlder Pass Rate i 00.00 Achievement Rate byAcadomicYear Retention Rate byAc8domic Year P855 Rat8 by Academic Yoar 11 100 SD 2021i22 202?.?3 2023Q4 2021Q2 2022.'23 2D2&24 •RR-WALè*¥4ts •PR-MRkhiwtS Achievement rates for 2023-24: English and Maths Pre Entry 100'/0 Entry Level 1 1000/. Enty Level 2 100 % Entry Level 3 1000/0 Level 1859/0 Arts Award 850/0 achievement Main aim Life Skills Award 100 % Personal Progress Certificate 100 /0 Work Preparation 1000/0 Certificate in Employability 89 % (1 student DNA) The college achieved 100 % positive destinations from students that have left the college. This includes moving into paid employment. self-employment, volunlary roles, and independent living. This academic year, one student was awarded the Ascentis Learner of the Year. She then progressed on to the Federation of Awarding Bodies final. coming a strong third. A full Ofsted Inspection in November 2024, achieved an overall Good rating. Overall effectiveness: GOOD The quality of education: Good Behaviour and attitudes: Outstanding Personal development: Outstanding Leadership and management: Good Provision for students with high needs: Good Quote frorn Otsted: "We are extremely impressed by your ambitious curriculum intent and aspirations for your students. In particular, we are blown away by the Supported Internship pathway and the impact this is having on the Interns and the businesses they work at." Produced by Albert Goodman LLP Page 7
Lifeworks Charity Limited Trustees, Report For the Period 1 April 2023 to 31 August 2024 Lifeworks Communit Community Projects was the umbrella title for all our day service activities, bringing together Youth Clubs, and Holiday Projects which enabled young people and adults to better access community activities that link to transition and preparing for greater independence, as well as social and community interaction. Our next phase is to put all activities under our Day Service umbrella title. Lifeworks Community Key Elements: Youth & Adult Social Clubs the first club opened in 1999. The Clubs, ethos is to provide recreational and educational clubs for young people with learning disabilities by offering a diverse range of opportunities for socialising, developing friendships, offering support for families and carers and progressing skills essential for independent living. The clubs run on Saturdays. The wide range of activities support the young people 12 18 and 18 years plus, to access the community and bring together what has been learnt at school, College 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. Holiday Projects offer a wide range of healthy food and fun activities to young people with learning disabilities across South Devon each schooll college holiday. Working in partnership with local food providers, community sports and arts organisations, we have been enjoying surfing, football, dance. horse riding, as well as a whole array of healthy food related fun, and many outings. It is with thanks to funding from the HAF (Healthy Activities and Food) programme from Devon County Council. that we have been able to offer a large proportion of places to those in receipt of free school meals. This programme mitigates 'Holiday Hunger, where families are unable to afford sufficient nutritious food during schooll College holidays. We not only provide a hot meal, but also the attendees learn how to grow their own fruit and vegetables. prepare and make the meals, take home ingredients and recipe cards, and recreate these with their own families. Key Impacts: an improvement in the health and wellbeing of attendee5 receiving healthy and nutritious meals maintaining a healthy level of physical activity being happy. having fun and meeting new friends developing a greater understanding of food, nutrition and other health-related issues taking part in fun and engaging activities that support their development feeling safe and secure getting access to the right support services returning to schoovcollege feeling engaged and ready to learn development of new skills or knowledge taking part in new experiences, for example nature walks. visiting National Trust properties and local farms Attendance Saturday Clubs Holiday Club HAF Programme 680 units 470 units 320 units ProduGed by Albert Goodman LLP Page 8
Lifeworks Charity Limited Trustees, Report For the Period 1 April 2023 to 31 August 2024 After consultation with our current service users and local Commissioners, in Septernber 2024 a Day Services provision was introduced: Monday to Friday for those adults with learning disabilities over 18, not in full-time education. employment or training. The service is designed to offer a diverse range of activities. Each day focuses on a theme, with activities being personalised, giving participants the opportunity to engage in activities that support personal growth, creativity, and community involvement. Themes include: Preparation for Adulthood- A focus on developing skills needed for independent living, further education, and employment readiness Home Baking & Gardening". Hands-on sessions to explore baking and gardening, encouraging creativity and practical skills, using ingredients harvested from our garden into cooked dishes. Creative Day: A day dedicated to expression through crafts, music, and other creative outlets. Community Engagement & Life Skills: Activities aimed at fostering connections within the community and building essential life skills for daily living. Active Leisure: Physical activities designed to promote health and well-being, offering both fun and fitness. Lifeworks, Central Services All front-line services are supported by Lifeworks. Central Services. Following a change in October 23 to our operational direction. a review of Central Services took place to restructure the department to ensure that the team aligned with the needs of the business and that it was cost effective and financially sustainable. The team provides financial, HR. fundraising. GDPR, and Health & Safety support and utilises the support of an external marketing company under the scrutiny of the Head of Finance & Governance. Finance & Fundraisin 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. No complaints have been received during this year. Lifeworks recognises the Fundraising Regulator's guidance designed to protect donors. charity supporters and the public, particularly those that are vulnerable, from intrusive fundraising practices. Our fundraising activity this year, has not involved working with any third party, commercial participators or professional fundraisers. 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. Produced by Albert Goodman LLP Page 9
Lifeworks Charity Limited Trustees, Report For the Period 1 April 2023 to 31 August 2024 Our Staff The trustees acknowledge that the greatest asset the charity has is its staff team. Lifeworks employs 106 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 maintained our accreditation as a Disabled Confident Leader. 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 8,000 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 Government's 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. Future Develo ments We began work on our new strategic plan in August 2022 and updated our Vision. Mission and Values. This produced an ambitious, but realistic strategy to bring better focus and move the charity forward in achieving best outcomes for the people we work with. Our VISION is for an inclusive society where there is true equity, and where people with learning disabilities are valued, accepted and empowered to fulfil their potential. Our MISSION is to create opportunities for people with learning disabilities to have a great life. Our VALUES are: We are Person-centred and inclusive, making sure that we always focus on the person and what they are able to do. supporting them to realise their aspirations and achieve their very best futures. We are Respectful and believe that everyone has the right to be happy, safe and live a fulfilled life. We value diversity and treat everyone with dignity. kindness and respect. We are Kind. We all need to feel safe, encouraged and valued. We are Positive in our work and with each other and will never stop trusting that there is a brighter future for people with learning disabilities. We are Trustworthy, believing in transparency, integrity and honesty. Everything that we do should inspire trust and confidence. We are Courageous and are driven to continuously innovate, develop. evaluate and improve. Produced by Albert Goodman LLP Page 10
Lifeworks Charity Limited Trustees, Report For the Period 1 April 2023 to 31 August 2024 Lifeworks, Strate ic Pillars LHrrdwlorLK• Uf• OvwcDmln4Ufq Bqrrfws tsitersng ¢ttrlon9 Chollewng loc1. UDurnI& emDTlona5 Creating DPPOrtunltlt, lorpcWci¢ 5Ces thiough IiIi bcOgICal E(nddIn7 tl¥e th10h pmpowrtli'ii dtsym barflerg The Year Ahead As we move forward into the forthcoming year, Lifeworks stands at a pivotal moment. The past year has presented us with significant challenges, most notably financial, that have tested our resilience and adaptability. However, it is during these times that our commitment to our mission and the communities we serve has shone the brightest. Reflecting on the Past, Building for the Future The financial loss incurred this year has spurred us to take decisive actions, re-evaluate our strategies, and implement rigorous financial management measures. Through a comprehensive review of our operations, we have identified key areas for improvement and efficiency gains. We are implementing cost-saving measures while ensuring that our core services remain unaffected. Looking ahead, we remain optimistic about the future. Our planned initiatives for the coming year include: Service Developments Lifeworks has always sought to respond to the needs of the people and the families whom we support. Despite the previous challenges, we are pleased to be looking at enhancing our provision through day services, expanding our youth offer and by responding to emerging needs where there are insufficient services available e.g. enabler services; supported living options. In this regard. we will continue to review and shape the organisation to position ourselves for sustainable future development and growth. Operational Efficiency Continuing to streamline our operations to improve cost-effectiveness without compromising the quality of our work. This includes investing in technology that enhances our operational capabilities and empowers our workforce. Partnerships and Collaboration Strengthening existing partnerships and seeking new collaborations that align with our mission. By working together with other organisations, we can amplify our impact and ensure a more sustainable future. Produced by Albert Goodman LLP Page11
Lifeworks Charity Limited Trustees, Report For the Period 1 Apri5 2023 to 31 August 2024 Transparency and Accountability Reinforcing our commitment to transparency and accountability by providing regular updates to our stakeholders about our progress and the impact of their support. Sustainability Planning Developing a long-term sustainability plan that balances our immediate financial needs with our future growth aspirations. This plan will serve as a roadmap for returning to financial health and organisational stability. Board Of Trustees As a charity, we seek to fulfil our vision by supporting, promoting, caring for, advocating for and giving voice to people with learning disabilities. That is what we do and want to become known for. We are pleased to have strengthened the Board with new trustees and we remain committed to our Strategic Plan, despite some significant challenges during the past 18 months. 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. Financial Reserves and Review Results for the period show net expenditure after deprecation of £356,366 (2023: net expenditure of £226,769). Total funds at 31 August 2024 stood at £1,823.126 of which £287.014 relates to fixed assets and can only be realised by disposing of the assets. this therefore leaves unrestricted free reserves at £1,536,112. Designated funds A formal review of our policy on reserves is carried out by Trustees annually, last completed March 2025. Our reserves policy focuses on the level of its 'free' reserves. Our unrestricted free reserves which are not specifically designated against fixed assets at 31 August 2024 were £1,536,112. The Trustees have assessed what financial resources are required to meet employer and other committed financial obligations, and based on this assessment the Trustees have designated £943,000 which is equivalent to four months trading income. of which £688.000 is designated for future risk. In addition to fulfil our capital and development requirements during the forthcoming twelve months £95.000 has been designated as detailed below" £20,000 vehicle acquisition £20,000 IT Systems £55,000 Contingency A maximum of £486,116 of 'free reserves, are available to be invested into Lifeworks projects at the discretion of the Board of Trustees. Risk The Board of Trustees tskes 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 use a model for assessing risk and to draw attention to the distinction beeen 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. Produced by Albert Goodman LLP Page 12
Lifeworks Charity Limited Trustees, Report For the Period 1 April 2023 to 31 August 2024 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, Res onsibilities 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 period 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: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP; make judgments and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 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. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditors are unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 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 otherjurisdictions. Auditors The auditors. Albert Goodman LLP, are deemed to be re-appointed under Section 487(2) of the Companies Act 2006. By order of t Trustees. PJJ rkson Chair of Trustees Date: os".cs" Produced by Albert Goodman LLP Page 13
Lifeworks Charity Limited Independent Auditors, Report to the Trustees and Members For the Period 1 April 2023 to 31 August 2024 Opinion We have audited the financial statements of Lifeworks Charity Limited (the 'charitable company,) for the period 1 April 2023 to 31 August 2024, 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: give a true and fair view of the state of the charitable company's affairs as at 31 August 2024 and of its incoming resources and application of resources for the period then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. 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 In auditing the financial statements, we have concluded that the trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. 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. Produced by Albert Goodman LLP Page 14
Lifeworks Charity Limited Independent Auditors, Report to the Trustees and Members For the Period 1 April 2023 to 31 August 2024 Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report. which includes the Directors, Report prepared for the purposes of company law for the financial period for which the financial statements are prepared is consistent with the financial statements; and the Directors, Report included within the Trustees, Report have been prepared in accordance with appSicable legal requirements. Matters on which we are required to report by exception 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: adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities set out on page 13. 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 ststements, 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.ukjauditorsresponsibilities. This description forms part of our auditor's report. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Produced by Albert Goodman LLP Page 15
Lifeworks Charity Limited Independent Auditors, Report to the Trustees and Members For the Period 1 April 2023 to 31 August 2024 The extent to which the audit was considered capable of detecting irregularities including fraud Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non4ompliance with laws and regulations, was as follows: the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations- we identified the laws and regulations applicable to the company through discussions with management. and from our commercial knowledge and experience of the charity sector., we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charity Act 2011, CQC registration, Ofsted registration. anti-bribery, employment, data protection and health and safety legislation- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence. and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement. including obtaining an understanding of how fraud might occur, by: making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud. and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: performed analytical procedures to identify any unusual or unexpected relationships., tested journal entries to identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias- and investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: agreeing financial statement disclosures to underlying supporting documentation. reading the minutes of meetings of those charged with governance., enquiring of management as to actual and potential litigation, claims and breaches of relevant legislation. and reviewing correspondence with the Charity Commission, CQC, Ofsted and other relevant regulators including the company s legal advisors and insurers. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions. the less likely it is that we would become aware of non- compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. Produced by Albert Goodman LLP Page 16
Lifeworks Charity Limited Independent Auditors, Report to the Trustees and Members For the Period 1 April 2023 to 31 August 2024 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. chelle Ferris Bsc (Honsj FCA DChA Senior Statutory Auditor for and on behalf of Albert Goodman LLP Chartered Accountants Statutory Auditor Goodwood House Blackbrook Park Avenue Taunton Somerset TA12PX Date: Produced by Albert Goodman LLP Page 17
Lifeworks Charity Limited Statement of Financial Activities (including the Income and Expenditure Account) For the Period 1 April 2023 to 31 August 2024 1 April 2023 - 31 August 2024 Unres- Res- tricted tricted 1 April 2022 - 31 March 2023 Unres- Res- tricted tricted Total Total Note Income: Donations Charitable activities other trading activities Investments 12,471 3,214,270 64,572 22,059 39,556 52,027 141,909 3,356,179 64,572 22,059 10,072 2,959,765 1,304 4,046 62,150 89,581 72,222 3,049,346 1,304 4,046 Total income 3,313,372 181,465 3,494,837 2,975,187 151,731 3,126,918 Expenditure: Expenditure on charitable activities 3,660,670 190,533 3,851,203 3,135,171 218,516 3,353,687 Total expenditure 3,660,670 190,533 3,851,203 3,135,171 218,516 3,353,687 Net income l (expenditure) before transfers (347,298) (9,068) (356,366) (159,984) (66,785) (226,769) Transfers between funds {8,068) 8,068 (57,878) 57,878 Net movement in funds (355,366) (1,000) (356,366) {217,862) (8,907) {226,769) Reconciliation of funds Total funds brought forward 2,178,492 1,000 2,179,492 2,396,354 9,907 2,406,261 Total funds carried forward 1,823,126 1,823,126 2,178,492 1,000 2,179,492 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. Produced by Albert Goodman LLP Page 18
Lifeworks Charity Limited - Company Registration Number: 03177139 Balance Sheet As at 31 August 2024 31 August 2024 31 March 2023 Note Fixed assets Tangible fixed assets 287,014 1,059,477 Current assets Debtors Cash at bank and in hand 89,042 1,698,529 262,656 979,958 1,787,571 1,242,614 Liabilities: Creditors: falling due within one year 10 {251,459) (122,599) Net current assets 1.536,112 1,120,015 Total net assets 1,823,126 2,179,492 The funds of the charity: Restricted funds 1,000 Unrestricted funds Designated funds Unrestricted funds 11 1,337,010 486.116 2,097,477 81.015 1,823,126 2,178,492 Total charity funds 1,823,126 2,179.492 The financial statements have been prepared and delivered 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 and signed on its behalf by: Clarkson Trustee Director S Puleston Trustee Director Produced by Albert Goodman LLP Page 19
Lifeworks Charity Limited Statement of Cash Flows For the Period 1 April 2023 to 31 August 2024 1 April 2023 - 31 1 April 2022 - 31 August 2024 March 2023 Notes Cash flows from operating activities Net movements in funds for the year Adjustments to cash flows from non-cash items Depreciation and amortisation (Profit)I loss on disposal of fixed assets Finance income (356,366) (226,769) 46,557 (62,979) (22,059) 55,499 2,361 (4,046) (394,847) (172,955) Working capital adjustments (Increase) I decrease in debtors (Decrease) l increase in creditors 173,614 128,860 (19.356) (157.324) 10 Net cash flow from operations Cash flows from investing activities Interest received Purchase of fixed assets Proceeds from the sale of fixed assets (92,373) (349,635) 22,059 (42,411) 831,296 4.046 (8,400) 810,944 {4,354) Net (decrease) l increase in cash and cash equivalents 718,571 (353,989) Cash and cash equivalents at the beginning of the reporting period 979,958 1,333.947 Cash and cash equivalents at the end of the reporting period 1,698,529 979.958 Produced by Albert Goodman LLP Page 20
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 Accounting policies The principle accounting policies adopted in the preparation of the financial statements are: 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. Legal status of the charity The charity is a company limited by guarantee and has no share capitsl. 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. Going concern The trustees assess whether the use of going concem is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees rnake this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting when preparing the financial statements. Income Donations and other voluntary income are recognised on receipt. Income from grants (including government 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. Produced by Albert Goodman LLP Page 21
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 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 costs of the general office and the administration function that supports the Charity have been split between charitable activities on a percentage basis per project, and time apportioned where an activity has not occurred throughout the full period. Costs relating to wages are allocated between activities based on the proportion of time spent by fundraising and administration staff on those activities. However, any expenditure relating to small specific projects is borne by the general fund. Investment income Interest on funds held on deposit is included in the Statement of Financial Activities as investment income when receivable and the amount can be measured reliably by the charity" this is normally upon notification of interest paid or payable by the bank. Pensions 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 and depreciation 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 Freehold buildings Fixtures, fittings and equipment Motor vehicles Office equipment Over term of the lease (300 years) 50 years straight line 5 years straight line 5 years straight line 4 years straight line Debtors 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. 1.10 Cash at bank and in hand 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. 1.11 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 rnea5ured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due. Produced by Albert Goodman LLP Page 22
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 1.12 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. 1.13 Financial instruments The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows: Financial assets trade, other debtors and loans (programme related investment) are basic financial instrurnents and are debt instruments measured at amortised cost. Investment portfolios are basic financial instruments measured at fair value through the income and expenditure account. Prepayments are not financial instruments. Cash at bank and deposit accounts- is classified as a basic financial instrument and is rneasured at face value. Financial liabilities trade creditors. accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. 1.14 Fund accounting Funds held by the charitable company are one of the following types'.- Unrestricted general funds these funds can be used in accordance with the charitable objects at the discretion of the Trustees. Designated funds these funds are set aside out of unrestricted general funds for specific future purposes, projects. or reserves. Restricted funds these funds can only be used for the particular restricted purposes within the objects of the charity. Restrictions arise when funds raised are for a specific purpose. Further explanations of the nature and purpose of each fund are included in the notes to the financial statements. 1.15 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. 1.16 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. Produced by Albert Goodman LLP Page 23
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 Net incomel (expenditure) before transfers 1 April 2023 31 1 April 2022 - 31 August 2024 March 2023 Net incoming resources for the period are stated after charging Pension costs Depreciation Auditors, remuneration Audit fee Other services 139,597 46,557 112,324 55,499 8,500 3.956 6,120 2,073 Income (excluding charitable activities income) 1 April 2023 - 31 August 2024 Unres- tricted Res-tricted 1 April 2022 - 31 March 2023 Unres- Res- tricted tricted Total Total Donations 12,471 39,556 52,027 10,065 62.150 72,215 Exceptional government funding Other Covid grants" 12,471 39,556 52,027 10,072 62,150 72.222 'denotes government grants The charity has been eligible to claim additional funding in the period from government support schemes in response to the coronavirus outbreak. The funding received is shown above under "exceptional government funding" Produced by Albert Goodman LLP Page 24
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 Incoming resources from charitable activities 1 April 2023 - 31 August 2024 Unres- tricted Res-tricted 1 April 2022 - 31 March 2023 Unres- Res- tricted tricted Total Total Fees for care services Robins Respite Centre Robins Residential care Sesame Residential care 287,490 378,350 1,204,592 287,490 378.350 1,204,592 500,462 681.847 734,941 500.462 681,847 734,941 1,870,432 1,870,432 1,917,250 1,917,250 Fees for college Further Education College 1,341,918 1,341.918 1,040,694 1,040,694 Fees for other projects Youth Club fees Summer School fees Community projects 32,187 44,042 32,187 44,042 510 39,620 15,961 39,620 16,651 1,131 690 1,131 510 510 76,229 76,739 1,821 55,581 57,402 Grants receivable The Clare Milne Trust Bailey Thomas Grant Small Grants Scheme Forbes Foundation Other (Under £5,000) 7,480 7,000 7,480 7,000 5,000 25,000 4,000 5,000 25,000 4,000 40,000 11,200 40,000 12,610 1.410 1,410 65,680 67,090 34.000 34,000 Total 3,214,270 141,909 3,356,179 2,959,765 89,581 3,049,346 Produced by Albert Goodman LLP Page 25
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 Charitable activities expenditure 1 April 2023 - 31 August 2024 Unres- tricted Res-tricted 1 April 2022 - 31 March 2023 Unres- Res- tricted tricted Total Total Robins Sesame FE College Other community and holiday projects Premises and admin costs 669,232 1,036,283 1,142,786 669.232 1,036,283 1,142,786 1,083,900 794,442 932,419 1,083,900 794,442 932,419 132,053 58.480 132,053 870,850 218,516 218,516 324,409 812,370 324,409 Total 3,660,670 190,533 3,851,203 3,135,171 218,516 3,353,687 1 April 2023 - 31 August 2024 Support costs Direct Other staff costs direct costs Total 2024 Robins Sesame FE college Other community and holiday projects Premises and admin costs 479,504 781,520 795,875 55,302 62,815 116,057 160,249 48,312 585,104 126.913 138,705 186.662 28,440 285,746 669,232 1,036,283 1,142,786 132,053 870,850 2,112,200 972,537 766,466 3,851,203 1 April 2022 - 31 March 2023 Support costs Direct Other staff costs direct costs Total 2023 Robins Sesame FE college Other community and holiday projects Premises and admin costs 651.681 449,760 525,905 95,129 272.107 261,361 288.668 47,761 226.295 160,113 83,322 117,846 75,626 98,115 1.083,900 794,442 932,419 218,516 324,409 1,722,474 1,096,192 535,021 3,353,687 Produced by Albert Goodman LLP Page 26
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 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 (2023: five) key charitable activities undertaken (see above) in the period. Refer to the table below for the basis of apportionment and the analysis of the support costs. 1 April 2023 31 1 April 2022 - 31 August 2024 March 2023 Basis of apportionment Salaries, wages & related costs General office and administration Time spent Turnover or time spent 599,610 166,856 401,749 133,272 766,466 535,021 Trustee directors None of the Trustee Directors (or any persons connected) received any remuneration during the period, and none were reimbursed any expenses (2023 - £nil). There were no related party transactions during the period (2023 - nil). Employees Number of employees The average monthly head count of employees during the period was: 1 April 2023 - 31 1 April 2022 - 31 August 2024 March 2023 Provision of care services Fundraising, publicity and development of the charity Operation of youth club Administration Education 22 56 10 25 22 58 100 Produced by Albert Goodman LLP Page 27
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 Employees (continued) 1 April 2023- 31 1 April 2022- 31 August 2024 March 2023 Wages and salaries Social security costs Pension costs Terminationl redundancy payments 2,337,870 207,446 139,597 26,897 1,838,460 163,440 112,324 10,000 2,711,810 2,124,224 During the period, total costs of £26.897 were paid in relation to redundancy and settlement costs to two individuals (2023 - £10,000 one settlement). The amounts are full and final with no outstanding amounts due at the balance sheet date (2023: no amounts outstanding). The number of employees whose annual emoluments (excluding employers Nl and employer pension contributions) were £60,000 or more were: 1Apri12023 31 IApri12022 31 August 2024 March 2023 £60,000 - £70,000 £70,001- £80,000 £80.001- £90,000 £90,001- £100,000 These employees are members of the defined contribution pension scheme, into which contributions of £22,850 (2023.. £4,612) were made. 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 £139,597 (2023- £112,324). Contributions totalling £6,071 (2023 £9,581) were payable to the scherne 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 those 5isted on Page 1. The total costs to the charity of employee benefits (including employers Nl and employer pension contributions) for the key management personnel were £396.555 (2023: £312,745). Produced by Albert Goodman LLP Page 28
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 Tangible fixed assets Leasehold Land & Buildings Freehold Fixtures Office Motor Land & Fittings & Equipment Vehicles Buildings Equipment Total Cost At 1 April 2023 Additions Disposals 255,335 1,142,909 9,493 (255,335) (798,951) 104,763 2,728 (41,275) 25.514 126.063 1,654,584 30,190 42,411 (16,719) (1,112,280) At 31 August 2024 Depreciation At 1 April 2023 Charge for the year Elim on disposal 353,451 66,216 25,514 139,534 584,715 3,400 387,303 10,014 (287,710) 81.928 11,144 (36,134) 22,773 2,741 99,703 595,107 22,658 46,557 (16,719) (343,963) (3,400) At 31 August 2024 Net book value At 31 August 2024 109.607 56,938 25,514 105,642 297,701 243.844 9,278 33,892 287,014 At 31 March 2023 251,935 755,606 22,835 2,741 26,360 1,059,477 Freehold land and buildings include 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 300 year lease. Debtors 31 August 2024 31 March 2023 Trade debtors - fees receivable Other debtors and prepayments 15,894 73,148 244,601 18,055 89,042 262,656 Produced by Albert Goodman LLP Page 29
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 10 Creditors: Amounts falling due within one year 31 August 2024 31 March 2023 Trade creditors Other creditors Accruals and deferred income Taxation and social security 29,687 156,226 38,734 26,812 35,524 23,491 28,972 34,612 251,459 122,599 At the balance sheet date, the charity was not holding any funds received in advance (2023: £6,800 for a trip taking place in 2023124). Produced by Albert Goodman LLP Page 30
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 11 Summary of movement in funds Opening Balance 01.04.23 Closing Balance 31.08.24 2024 Income Expenditure Transfers Restricted funds Community Projects Development Forbes donation The Small Grant Fund The Clare Milne Trust Bailey Thomas BBC CIN 122,985 40,000 4,000 7,480 7,000 (131.053) (40.000) (4,000) (7,480) (7,000) (1 ,000) 8,068 1,000 Total Restricted funds 1,000 181,465 (190.533) 8.068 Unrestricted funds Desi nated: Robins respite centre Sesame other fixed assets Vehicle acquisition IT Systems Contingency Operational reserve 501,027 254.003 304.447 20.000 20,000 55,000 943,000 (501,027) (7,743) {251,697) 246.260 52,750 20,000 20,000 55.000 943.000 2.097.477 (760.467) 1,337,010 General 81,015 3,313,372 (3,660,670) 752.399 486,116 Total Unrestricted funds 2,178,492 3,313,372 (3,660,670) (8.068) 1.823,126 Total funds 2,179,492 3,494.837 (3,851,203) 1,823,126 Produced by Albert Goodman LLP Page 31
Lifeworks Charity Limited Notes to the Financial Statements For the Period 1 April 2023 to 31 August 2024 11 Summary of movement in funds (continued) Opening Balance 01.04.22 Closing Balance 31.03.23 2023 Income Expenditure Transfers Restricted funds Community Projects Development BBC CIN 151,731 (209,609) (8,907) 57,878 9.907 1,000 Total Restricted funds 9,907 151.731 (218,516) 57,878 1,000 Unrestricted funds Desi nated.. Robins respite centre Sesame Other fixed assets Vehicle acquisition IT Systems Contingency Operational reserve 516,226 261,062 331,649 20,000 20,000 (15,199) (7,059) (27,202) 501,027 254.003 304.447 20.000 20,000 55,000 943,000 55,000 (92,000) 1,035,000 2,183.937 (86,460) 2.097,477 General 212,417 2,975,187 {3,135,171) 28,582 81,015 Total Unrestricted funds 2,396,354 2,975.187 (3,135,171) (57,878) 2,178,492 Total funds 2,406,261 3,126,918 (3,353,687) 2,179,492 Produced by Albert Goodman LLP Page 32
Lifeworks Charity Limited Notes to the Financial Statements For the period 1 April 2023 to 31 August 2024 11 Summary of movement in funds (continued) The restricted funds are: Community Projects Development is for the delivery of the Branchline Partnership Project funded by small grants. BBC CIN has been received towards the Young Volunteers project to fund a Volunteers Coordinator, two Young Volunteer Support Workers and funding for recruitment and training. Forbes donation was received from Forbes for a minibus pick up and drop off service to support those in rural or areas of deprivation unable to access Lifeworks Community services. The Small Grant Fund came from DYS Space to support families to connect with local community activities. educate in healthy eating and provide support for mental wellbeing. The Clare Milne Trust funding was provided to support disadvantaged college students to attend a 5 day residential to the Calvert Trust. Lake District, for an activity holiday. Bailey Thomas funding was received to expand the Lifeworks Community offer to a wider range of attendees. The designated funds are: The Respite Centre designated fund represents the net book value of the freehold property for the Respite Centre. The Sesame designated fund represents the net book value of the freehold property for Sesame. The Other Fixed Assets designated fund from the general fund represents the net book value of the other fixed assets held. The vehicle acquisition fund sets aside funds to fulfil vehicle replacements. The Operational reserve designated funds sets aside funds which approximate to 4 months running costs for the charity, as described in the Trustees Report. This ensures that the Charity will be able to continue to meet liabilities as they fall due. and allow for better financial planning. IT Systems and Replacement funds sets aside funds to fulfil capital requirements., i.e. modernisation of property, and replacements of specialist equipment, vehicles, IT and furnishings. The unrestricted general fund consists of funds which the charity may use for its charitable purposes at its discretion. Produced by Albert Goodman LLP Page 33
Lifeworks Charity Limited Notes to the Financial Statements For the period 1 April 2023 to 31 August 2024 12 Analysis of assets between funds l April 2023 - 31 August 2024 Unres- tricted 1 April 2022 - 31 March 2023 Unres- Res- tricted tricted Res-tricted Total Total Tangible fixed assets Current assets 287,014 1,536,112 287,014 1,536,112 1,059,477 1,119,015 1,059,477 1,120,015 1,000 1,823,126 1,823,126 2,178,492 1,000 2,179,492 13 Financial commitments At 31 August 2024 the charity was committed to making the following future minimum rental payments under non-cancellable leases as follows: 31 August 2024 31 March 2023 eratin Premises: Within one year 2-5 years Other: Within one year 2-5 years leases.. 22.469 9,419 35,096 44,515 22.469 Produced by Albert Goodman LLP Page 34