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2021-08-31-accounts

Label of Love Limited

Financial Statements

for the year ended 31[st] August 2021

Registered Office at End of Financial Year:

Label of Love Office

Cottingham Methodist Church

Hallgate

Cottingham HU16 4BD

Registered Charity Number 1061328

Company Registration Number 3254510

Contents

Annual Report 2020-21

March 8, 2022

1

Label of Love Limited

Report of Trustees/Directors – Year Ending 31[st] August 2021

We believe that God made each individual person in His own image and gave us the potential to know the greatest love you can ever know; literally his “Label of Love”. So, every person, young or old, can hold their head high, and show off the ultimate label that says: “ You are amazing ”. Label of Love is a Christian charity that seeks to take this message to young people in the Hull and surrounding area.

Principally we do this through supporting young people in local primary and secondary schools: we run assemblies, take lessons, and hold workshops and youth events, all based implicitly, and where appropriate explicitly, on the values and impact that the Christian faith has on people. Alongside this we aim to build up their self-confidence, wellbeing and personal health through the medium of the arts. In this we have had regard to the Charity Commission’s guidance on public benefit when considering how activities will contribute to our overall aims and objectives.

The financial statements included here comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)

1. ACTIVITY, ACHIEVEMENTS AND PERFORMANCE

Here is the range of activities that we have undertaken in the last 12 months.

WORK IN SCHOOLS

We have maintained the work we do with many primary and secondary schools, using music, drama, games, discussion and activities to communicate our subject. Over the last 12 months we have delivered lessons, workshops and assemblies in several schools across Hull and East Yorkshire: -

Unfortunately, our normal activities have been significantly impacted due to the ongoing pandemic situation and the closure of schools over the last 12 months. We have not been able to carry out our usual face-toface activities during a large part of this reporting year but have maintained contact with schools and pupils via online activities and video productions.

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We have developed a strong relationship with South Hunsley School including delivery of a combination of collective worship, a lunchtime club and mentoring sessions.

Label of Love has a large portfolio of unique lessons and assemblies, which have been written by our schools’ team. We can present a range of lessons to cover parts of the RE, PSHE and CITIZENSHIP curriculums, as well as offering RE revision sessions for Year 11 pupils. Our aim is to deliver these lessons in a fresh, relevant and interesting way, whilst maintaining an opportunity for the pupils to achieve their learning objectives. As a result of the difficulties posed by covid19, we now hold sessions via livestreaming as well as in school and some of our assemblies are available as online videos via YouTube. We also have a series of videos on positive mental health that are designed to give students support at home presenting tools to make you feel better about yourself, manage emotions, stay on track or simply make you smile that are now also available via YouTube.

WORK WITH THE LOCAL EDUCATION PARTNERS

REaction

REaction is an annual tour originally organised by a partnership between the East Riding LEA and the Anglican Diocese of York but now run by Label of Love and Sue Holmes (former RE co-ordinator for East Riding LEA) on a self-funding basis. A charge is made to participating schools to help fund the events, as well as obtaining grant funding where possible. The continuing feedback is very positive, and schools are very receptive to the events.

The aim of REaction is to bridge the gap between local primary and secondary schools. This is achieved by holding a day of workshops based on a theme from the RE curriculum for Y6 primary pupils which gives pupils an opportunity to mix with those from other schools that will be going to the same secondary school in the September. REaction gives pupils the opportunity to explore aspects of the Christian faith in a creative and accessible way.

Despite the ongoing covid restrictions, the events scheduled for June, were able to go ahead although some events were held virtually. These events looked at the life of St John of Beverley who died 1300 years ago and discovering his legacy. The children took part in music, drama and art workshops as well as periods of a more reflective nature and a tour of Beverley Minster and St Mary’s church. Full packs of resources and materials were supplied to those schools which took part via the livestream.

REaction 2

REaction2 is now a key part of the team’s year. It is for year 2 & 3 primary pupils using the same successful format as REaction. Its aim is to give pupils an opportunity to explore aspects of the Christian faith in a secure environment, using creative mediums to communicate the subject. As it was held during the autumn term, due to the pandemic, the Beverley Minster open event and the two half days in Chiltern Primary and Beverley Minster Primary schools were held virtually.

The Beverley Minster and Beverley Minster Primary school days each comprised a day of activities centred around a theme of ‘Remembrance’. Pupils looked at how our lives are made up of lots of experiences and

Annual Report 2020-21

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how we can make items that can remind us of people, events, places that we would like to remember. They also looked at the act of communion and preparing for a special meal. The children enjoyed music, drama and creative activities as well as more reflective sessions; the team again receiving excellent feedback that consolidates the trust teachers have in our brand. Meanwhile the day at Chiltern Primary school was centred around a theme of ‘Sanctuary’, looking at modern day refugees and the medieval tradition of seeking sanctuary.

REaction4

Unfortunately, due to school lockdown closures and covid restrictions, Reaction4 was unable to run this year. We are looking forward to restarting Reaction4 events next year and especially will look to expand on the early years event which was held for the first-time last year.

OTHER WORK OF LABEL OF LOVE

YOUTHWORK

Hunsley Christian Youth Trust (HCYT)

Label of Love have continued in partnership with HCYT to deliver mentoring sessions in both group and 1-1 formats, assemblies and a lunchtime club in South Hunsley school. Since the introduction of covid restrictions and school closures, we have turned to holding clubs and assemblies via zoom. There has also been a Tuesday after school youth club which again has moved online due to restrictions.

As the relationship between the school and Label of Love strengthened, Petra and Adam were both asked to be involved in the mass covid testing of pupils on their return to school following the January shutdown. They also took part in a week-long summer school in August for year 6 primary school pupils who had missed out on all the normal transition activities.

Beverley Schools Christian Trust (BSCT)

Since the beginning of lockdown, we have produced a series of videos on mental health in conjunction with Cathy Beynon. It is hoped that these videos which are aimed at key-stages 1 and 2 will be used in schools alongside mentoring groups and assemblies.

2. FINANCES & GOVERNANCE

INCOME AND FUNDING

Total income has fallen this year. Donations have remained more or less level compared to last year, however activity income from REaction and schools work, as well as grants and event income were all well

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4

down on previous years. The increase has come from expanding contracted work and Job Retention Scheme payments.

EXPENDITURE

Total expenditure has fallen compared to the previous year again despite an increase in salaries. This is due primarily to a reduction in reaction and school activity costs, which is a direct result of school closures and covid restrictions. The team are to be congratulated on maintaining their cost control.

GOVERNANCE AND INTERNAL CONTROL

The Trustees/Directors continue to meet regularly to review and input into the work of Label of Love and receive a monthly overview of finances alongside the Project Manager’s report and a staff member report. Cash flow is reviewed in more detail twice a year and particularly two months before the end of the financial year, when a budget for the next year is agreed based on current costs and income levels.

There is also a regular focus on processes and policies including an annual review of DBS checks – the trustees are grateful that the secretary has now been trained to manage this side of the work alongside the team.

APPOINTMENT OF TRUSTEES

The minimum number of trustees is three. The original trustees were the persons notified to Companies House as the first directors of the charity. Subsequently, trustees have been appointed by the annual general meeting in accordance with the regulations laid down in the Articles of Association.

New trustees are given a Trustee Induction Pack and description of responsibilities and are invited to meet with trustees, employees and volunteers.

A skills audit of the trustees is held from time to time, and when filling vacancies every effort is made to have regard for specialist skills that might be needed.

None of the trustees receives remuneration or other benefit from their work with the charity. Any conflicts of interest must be disclosed.

Annual Report 2020-21

March 8, 2022

5

LABEL OF LOVE AS “GOING CONCERN”

Despite financial challenges across the whole third sector, Label of Love can demonstrate that it has been, and continues to be, managed in a financially sound way.

EXEMPTIONS FROM DISCLOSURE

None

FUNDS HELD AS CUSTODIAN TRUSTEES ON BEHALF OF OTHERS

N/A

RESERVES POLICY

The policy is to retain sufficient reserves to manage continuity and to provide cover for any unforeseen emergency expenditure, including salaries and when necessary, redundancy payments. At present three months expenditure are to be safeguarded as reserves with the current requirement being £4,000.

3. THE FUTURE

AIMS FOR 2021 - 2022

As Label of Love, we are still very passionate to see our work grow in both scale and depth. In 2021-22 we will particularly work on the following:

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The Trustees approved this report on: ...................................................................................

Signed ........................................... Name.................................................. Date................

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7

DIRECTORS’ RESPONSIBILITIES

The Directors consider that the Company is entitled to exceptions from the requirement to have an audit under the provisions of the Companies Act 2006. No Shareholders have issued a notice under Section 476 requiring an audit. The Directors acknowledge their responsibilities for ensuring that the Company keeps accounting records which comply with Section 386 of the Companies Act 2006 and for preparing accounts which give a true and fair view of the state of affairs of the Company as at the end of the financial year and of its profit for the year in accordance with the requirements of Section 393, and which otherwise comply with the requirements of the Act relating to the accounts so far as applicable to the Company.

DIRECTORS: Mr. D. Bower Mrs. J. Bower Mrs. W. Hunter Mrs. K. Kerr Mr. J Morris Mr. S Namih Mr. J Steel SECRETARY: Mrs. W. Hunter REGISTERED OFFICE: Label of Love Office Cottingham Methodist Church Hallgate Cottingham HU16 4BD

Annual Report 2020-21

March 8, 2022

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LEGAL AND EXECUTIVE INFORMATION

The name of the Company is LABEL OF LOVE LIMITED.

The governing documents are the memorandum and Articles of Association.

The Company is limited by guarantee and is a registered charity.

The Company Registration Number is 03254510.

The Charity Registration Number is 1061328.

The Company’s bankers are Lloyds Bank plc.

The income and property of the Company shall be applied solely towards the promotion of its objects as set out in the Memorandum of Association.

OTHER INFORMATION

The Company is established for charitable purposes only, to promote, maintain, improve and advance the Christian Religion, particularly by the propagation of the Christian gospel through the arts, including the arts of drama, mime, dance, singing and music and to formulate, prepare and establish schemes therefore, provided that all objects of the Company shall be of a charitable nature, the Company may pursue such ancillary objects to its main objects.

FINANCIAL REVIEW

The results for the year are set out in the annexed financial statements.

BY ORDER OF THE BOARD

Signed: …………………………………………… Date: …………………………

Name: …………………………………………….

Annual Report 2020-21

March 8, 2022

9

CC64(b)

Independant Examiner's Report on the Accounts
Receipts and Payment Accounts
Report to the trustees/members of
On accounts for the year ended
Set out on pages
Respective responsibilities of trustees
and examiner
Basis of Independent examiner's
statement
Independent examiner's statement
Signed
Name
Relevant professional qualification or
body (if any)
Address		 Label of Love Limited
3
1
0
8
2
1
The charity's trustees are responsible for the preparation of the accounts. The
charity's trustees consider that an audit is not required for this year (under
section 43(2) of the Charities Act 1993 (the Act) and that an independent
examination is needed
It is my responsibility to:
examine the accounts (under section 43(3)(a) of the Act);
follow the procedures laid down in the General Directions given by the
Charity Commissioners (under section 43(7)(b) of the Act); and
state whether particular matters have come to my attention.
My examination was carried out in accordance with General Directions given
by the Charity Commissioners. An examination includes a review of the
accounting records kept by the charity and a comparison of the accounts
presented with those records. It also includes consideration of any unusual
items or disclosures in the accounts, and seeking explanations from the
trustees concerning any such matters. The procedures undertaken do not
provide all the evidence that would be required in an audit, and
consequently I do not express an audit opinion on the accounts.
In connection with my examination, no matter has come to my attention
(other than that disclosed overleaf*):
(1)
which gives me reasonable cause to believe that in any material respect
the requirements:
to keep accounting records in accordance with section 41 of the
1993 Act; and
to prepare accounts which accord with the accounting records
and comply with the accounting requirements of the Act
have not been met; or
(2)
to which, in my opinion, attention should be drawn in order to enable a
proper understanding of the accounts to be reached.
Date
23-Feb-22
John AlbertPorter
nil
165,NewlandPark
Hull
EastYorkshire
HU52DX
John AlbertPorter
nil
165,NewlandPark
Hull
EastYorkshire
HU52DX

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March 8, 2022

10

STATEMENT OF FINANCIAL ACTIVITIES: 01 September 2020 to 31 August 2021 rounded to nearest £

INCOME
Donations
Church one-off donations
Business donation
Standing Orders
Individual gift aid donations
One off fundraising events
Gift aid from inland revenue
Grants
Trust Funds / Grants
Activity income
Schools
Re-Action
One-off gigs
Contracted Income
Investment income
Bank interest		 notes
note 1		 2020-21
TOTAL
£3,613
£5
£10,821
£562
£2,015
£550
£126
£696
£7,460
£1		 2020-21
unrestricted
restricted
£3,613
£5
£10,821
£562
£2,015
£550
£126
£696
£7,460
£1		 2020-21
unrestricted
restricted
£3,613
£5
£10,821
£562
£2,015
£550
£126
£696
£7,460
£1		 2019-20
TOTAL
£2,804
£5
£10,924
£2,150
£432
£2,596
£2,400
£480
£4,020
£4,328
£6		 2019-20
unrestricted
restricted
£2,804
£5
£10,924
£2,150
£432
£2,596
£2,400
£480
£4,020
£4,328
£6		 2019-20
unrestricted
restricted
£2,804
£5
£10,924
£2,150
£432
£2,596
£2,400
£480
£4,020
£4,328
£6
Other
Misc income
Job Retention Scheme
Insurance		 £23
£8,158		 £23
£8,158		 £6,745 £6,745
TOTAL income 34029.01 33479.01 £550 36889.54 36889.54
EXPENDITURE
Labour costs
Salaries
NIC
Training
Project costs
Schools work
Re-Action
Equipment purchases
Equipment/venue hire + Bands
Other events costs (materials / publicity)
One off fundraising event costs
Transport costs
Fuel + maintenance
Insurance
Travel expenses
Premises costs
inc. Services
Admin costs
Admin
IT consumables
Equipment & Public liability insurance
Other costs
Subscriptions / gifts
Depreciation
Bank charges
Misc		 £32,103
£1,514
£718
£850
£9
£1,390
£1,283
£417
£829
£74
£21		 £32,103
£1,514
£718
£9
£1,390
£1,103
£417
£829
£74
£21
£850
£180		 £30,642
£1,645
£178
£2,205
£300
£484
£1,230
£935
£1,302
£822
£60
£143		 £30,642
£1,645
£178
£1,965
£300
£484
£1,230
£935
£1,302
£822
£60
£143		 £240
TOTAL expenditure £39,206.91 £38,176.91 £1,030.00 £39,946.05 £39,706.05 £240.00
Transfer between accounts
Net movement in FUNDS -5177.90 -4697.90 -480.00 -3056.51 -2816.51 -240.00

Notes

  1. grants given for equipment purchase.

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BALANCE SHEET as at 31 August 2021

rounded to nearest £

notes 2020-21
TOTAL		 2020-21 TOTAL
unrestricted
restricted		 2020-21 TOTAL
unrestricted
restricted		 2019-20
TOTAL		 2019-20 TOTAL
unrestricted
restricted		 2019-20 TOTAL
unrestricted
restricted
Fixed assets
total
Current assets
cash at bank and in hand
So, NET ASSETS		 £6,529.23
£6,529		 £5,125
£5,125		 £1,404
£1,404		 £11,707.13
£11,707		 £9,823
£9,823		 £1,884
£1,884
FUNDS available
Opening balance
Adjustment to opening balance
Add surplus		 11707.13
-5177.09		 £9,823
-£4,697		 £1,884
-£480		 14763.64
-3056.51		 £12,640
-£2,817		 £2,124
-£240
TOTAL £6,530 £5,126 £1,404 £11,707 £9,823 £1,884

Notes 1 2 3

(a) For the period ended 31st August 2021, the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

(b) The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

(c) The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

(d) The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

DEPRECIATION CALCULATION (rate of 25% per annum of cost)

rounded to nearest £

----- Start of picture text -----
2020-21 TOTAL 2019-20 TOTAL
Plant & Eqt Vehicles TOTAL Plant & Eqt Vehicles TOTAL
Opening Balance at 1st Sept Cost £21,152 £41,569 £62,721 £21,152 £41,569 £62,721
Depreciation -£21,152 -£41,569 -£62,721 -£21,152 -£41,569 -£62,721
Net Book Value
Changes in year Additions
Depreciation charge (inc. 25% of additions)
Closing balance at 31st Aug Cost £21,152 £41,569 £62,721 £21,152 £41,569 £62,721
Depreciation -£21,152 -£41,569 -£62,721 -£21,152 -£41,569 -£62,721
Net Book Value
Notes:
Depreciation policy is to write off assets
over 4 years (25% per year)
----- End of picture text -----

----- Start of picture text -----
Actual cash at year end TOTAL unrestricted restricted TOTAL unrestricted restricted
Current £1,353 £1,353 £2,921 £2,921
Business £5,173 £3,769 £1,404 £8,777 £6,893 £1,884
Electronic Tariff
Petty cash £3 £3 £9 £9
£6,529 £5,125 £1,404 £11,707 £9,823 £1,884
Re-Action Debtors Re-Action Re-Action
IR (gift aid)
IR (refund)
Re-Action
Creditors Re-Action Re-Action
Rent
Telephone
12
----- End of picture text -----

Annual Report 2020-21

March 8, 2022

Notes on the accounts – YEAR ENDED 31[st] AUGUST 2021

Accounting Policies

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

a) Basis of preparation

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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Label of Love 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).

b) Preparation of the accounts on a going concern basis

The accounts are prepared on a going concern basis. The trustees are not aware of any issues that would prevent this basis being used

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, 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.

d) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity heading:

Expenditure on charitable activities includes the costs of educational activities undertaken to further the purposes of the charity and their associated support costs.

e) Cash at bank and in hand

Cash at bank and cash 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.

f) Creditors and provisions

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

g) Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

h) Pensions

Pensions are offered to the employees of the company through the Governments NEST scheme.

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 £1 per member of the charity.

Income Analysis

Income from donations and grants

2021 2020
Donations &gifts 15,001 15,883
Gift aid 2,015 2,596
Generalgrants(provided byother charities) 550 2,400
Other 8,182 6,751
total 25,748 27,630

The income from donations was £15,001 (2020: £15,883). This was boosted by the receipt of £8,158 from the Job Retention Scheme. The income from general grants was £550 from the Hesslewood Children’s Trust which was for the purchase of equipment.

Income from charitable activities

ctivities
2021 2020
Reaction 696 4,020
Schools 126 480
Contracted Income 7,460 4,328
One-off events 0 432
Total 8,282 9,260

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Expenditure Analysis
2021 2020
Staff costs 33,617 32,287
Activitycosts 1,577 2,683
Administration 2,533 3,059
Premises 1,390 1,230
Transport costs 0 484
Other 90 203
Total 39,207 39,946

Analysis of Staff Costs

f Costs
2021 2020
Salaries and Wages 30,572 29,790
Social Securitycosts 1,514 1,645
Pension Costs 1,531 852
Training 0 0
Total 33,617 32,287

Staff Numbers

The average monthly head count was 3 staff (2019: 3 staff).

Corporation Tax

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Tangible Fixed Assets

Depreciation is set at 25% per annum

Motor vehicles Cost: as at 1/9/20 0 Depreciation - Net book value: as at 31/8/21 0

Analysis of Assets between Funds

General funds Designated funds Restricted funds Total
Cash at bank/in hand 5,126 1,404 6,530

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Appendix 1: Overview of subjects that Label of Love can teach or present on: -

LESSONS:

ASSEMBLIES:

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Annuul Report 2020-21 17 March 8, 2022