Big Life Centres la company limited by guarantee) Annual Report Year Ended 31 March 2021 Company Number 03311884 Charity Number 1062333
Big Life Centres Roport and flnanclal statemonts for the year ended 31 March 2021 Contents Page.. Legal and adminislralive information Directors, and trustees, report statement of Iruslees, responslbillties Independent audito8 report 13 Statement of flnanclal acllvilles 14 Balance sheet 15 Notes to the financial statements
Big Life Centres Lggal and administratlve Infomation for the year onded 31 March 2021 Directors and Trustees of the charity: M Filzglbbon F Selvan E Robinson S Islam A Rafferty L Symonds Secretary: M Fitzgibbon Prlnclpal and Reglstèrgd Offico: 11t Floor 463 Slretford Road Manchester England M16 9AB Company Number 03311884 Charity Number 1062333 Webslte www.thebiglifegroup.com Constitutlon: The charity Is registered as a company limited by guaranleo. The governing documents are the company's memorandum and arti¢les of association. Bankors: Sanlander Bridle Road Boolle Merseyside L30 4GB External Audltor: Beever and Slruthers Slatulory Auditor Sl George's House 215-219 Chester Road Manchester M154JE
Big Life Centres Dlrectors. and trustges, report for the year ondod 31 March 2021 The directors and trustees are pleased to present their report together with the financial slalemenls of the charity for the year ended 31 March 2021. Legal and adminislralive information sel out on page 1 forms parl of this report. The financial slalemenls comply with current slalulory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice 'Accounling and Reporting by Charities" 1 Structure, Govemance and Management Status Big Life Cenlres is a company limited by guarantee, (company nijmber 033118841, and a registered charity {number 10623331 governed by ils memorandum and articles of association. Dlrectors and Trustees The Trustees serving during the year were as follows. M Filzgibbon F Selvan E Robinson S Islam A Rafferty L Symonds Recrultment and Tralnlng of Trustees As sel out in the Articles of Association, the Chair and other Trustees are appointed by The Big Life Company Llmiled by sending a notice in writing lo the Ch8rily. The training and induction of new Trustees is the responsibility of the Chair and is tailored to the individual needs of new appointees. All Trustees have a one lo one meoling with the Chair each year lo discuss training and development needs. The Standing Orders of the charity give details of the decisions which are made at Board level and the powers delegated to the management team. Oryanisational Management The Board of Trustees evaluate and agree the priorities of the organisallon as a whole and sub commillees of the Board determine the general policies. Big Life Cenlres is part of the Big Lrfe Group of social businesses and charities. 11 contracts with The Big Life Company Limited for the provision of corporate services through a Service Level Agreement. Risk Management The directors have identified the risks that the charily may be exposed lo in the next financial year and have established strategies lo miligale those risks. A risk management process 15 in place whereby risks are identified and profiled against likelihood and consequence, with actions put in place. Each risk is assigned lo a member oflhe Serlioi Management Team.
Big Life Centres Dlrectors. and trustees, report for the year ended 31 March 2021 (contlnued) Key Management Personnel- Remuneratlon Big Life Cenlres conslder ils key management personnel to be Iruslees and senior leadership of the group. Full costs are borne by The Big Lrfe Company Limited and disclosed in those accounts. The costs of the charity's key management personnel relaling lo Big Life Cenlres are paid for as part of an overall seTvice level agreement with The Big Life Company Llmiled that is annually agreed by Big Life Cenlres trustees. Remuneration of the senior leadership within the group is set by the group's Audit & Remuneration Committee based on benchmarking against comparable external organisalions. 2 Objects of thg Gharlty The charity's object and principal activity is lo promote and provlde inilialives lo advance wellbeing. 11 is a charity which offers opporlunities lo people who have had a raw deal in life lo change their Ilves for the beller. 1118 an independent charity which works within the Big Lrfe Group. The charity manages three health and community resource cenlres including the Energise Centre in Salford and the Zion and Kalh Locke Cenlres in Manchester. 11 also delivered coaGhing and the Living Well and Achieve contracts in Bolton, Bury,Salford and Trafford. 3 Statement of publlc benafit The Tru51ees have given due considerallon lo Charity Commission published guidance on the operation of Ihe public benofil requirement. Full details of the public benefll provided by the charity are detailed in the review of aGlivilies in section 4. 4 Revlew of actlvltlgs Big Life Centres provides communlty and self.help SeIce$ lo support people lo Improve their well-belng. The charity manages three community health cenlres in Manchester and Salford (Zion. Kalh Locke and Enorgise). The charity also delivered wellbeing sejvlces In Manchester (Be Welll and Rochdale (Living Welll and Achieve Drug and Alcohol serylce Bolton, Bury, Salford and Trafford. Our work thls year was significantly dlsrupled by the Covid Pandemlc which makes a year-on-year comparison of activity dSfflcull. Modes of service delivery were requlred lo adapt and throughout the year contract Income levels were malnlalned. For the whole year the Covid pandemic had a signlficanl impact and services adapted delivery modes lo support clients within the conslrainls of all Governmenl guldance. Despite the pandemlc Blg Life Cenlres cass managed a total of 33,569 clients and achieved the following: Big Life Centres at Zion and Kalh Locke had 4,886 visitors12020.' 142.149 vlsltois}. The outbak of Covid-19 Impacted on visitor numbers throughout the year as the drop reflected groups, exerase classes and tenants working from home Ihroughoul the pandemlc. Big Life Cenlres delSvered the Rochdale LSvlng Well service and during the year supported 3329 clienls12020'. 7,680 clients). They worked with 104 volunteers lo ensure a rapid communlty Tesponse lo Covid including door knocking to do myth busting, staffing lesllng sites and handing out PPE. The Achieve Drug and Alcohol Recovery Service operalod across Bolton, Salford. and Trafford and this year Bury, a new commlssion for the Achieve Partnership. Blg Life run the Assertive Outreach element ol the service and this year we have SUPPDrted 1940 individuals. The service aims lo bring people into slruclured Irealmenl and re-engage with those who struggle lo comply with Irealmenl or have dropped out of Irealmenl. The service obleclive is lo decrease the numbers of high risk indlvlduals losing contact with slruclured treatment, reduce unsuccessful compleuons of Irealmenl, and engage with new clients. The Be Well wellbeing service worked with partner organisalions Including VCSE providers and housing providers lo support 7,709 people {2020'.3,047 people). This included specific Covid support and the growth of the seNice Into the North of the CSly and additional workers in specific GP practices.
Big Life Centres Dirgctors, and trustees, report for the year ended 31 March 2021 (contlnued) Wellbeing Mallers aims lo build capacity through volunleerlng and voluntary action in Salford and support people to connect lo local community assets that support wellbelng and independence and reduce the need for intervention by health and care services. Throughout Ihe yoar Wellbeing Mallers provided soclal prerIbIng support and worked with 1.169 people12020'.1,848 peop161. Big Life Cenlres provided 173 people with volunleerlng opportunSlles durlng the year12020'. 187 people). 5 Prlnclpal rlsk8 and uncertalntles A risk management process Is in place whereby risks are idenirfied and profiled against likelihood and consequence, with actions identified. Each risk is assigned lo a member of the Senior Management team. By far the biggest rlsk this year was the Coronavirus. This impacted our ablllty lo deliver services safely for our staff and clients as well as our financial position. A Coronavirus Core Group oversaw the management of Health & Safety risk assessments and mitigations., advised staff and managers,. and ensured clear communi110n. The group were able to delay planned investments and successfully secured grants and accessed government support to manage the financial risks. At an operational level, services provided by the Group are subject to legislative and quality standards, Including CHAS {Ihe Health and Safely Quality Slandardl, ISO 9001 and 14001. The Group also retained ils Best Companies 2 stsr accredilalion, lafler narrowly missing out on the 3 star award) which evidences oulslanding levels of staff engagement. The Group was placed 64th in the UK'S 'Besl Large Companies lo Work For, lisling 2020-21. Failure lo maintain these standards would impact on the Group's ability lo retain and win conlracls, therefore services are con51anlly reviewed and audited, and appropriate action taken lo ensure targets are mel and exceeded. 6 Rglated parties The charity fomis part of the "Blg Llfe Group. of social enterprises and charities. This Includes The Big Life Company Limited, a not for profil dislribuling company limited by guarantee, of which one of the Gompany's directors, F Selvan, is the sole guarantor. The Group also includes Self Help Services Ltd, Big Issue North Trust Ltd and Big Life Schools (formerly Longsighl Community Primary School). Self Help Servlces Ltd is an indepond8nl charity within the Big Life Group and Is a user led primary caro mental health service offering self-help groups. Cognitive Behavioural Therapy (CBTI, compulerised CBT, counselling, volunteering and peer support. Blg Issue North Trust Ltd is an independent charity within the Big Life Group and provides seTvices lo vendors of Big Issue North magazino., including assistance with access lo health care services, accommodation and addiction servic8s. Blg Llfe Schools is Mulli Academy Trust comprising of 2 schools.
Big Life Centres Dlrectors. and trustees, report for the year ended 31 March 2021 (continued) 7 Flnanclal Revlew In 2021 income increased lo £6,839,451 (2020.. £5,575,8g4) with a corresponding increase in expenditure lo £6,582,159 12020.. £5,554.450}- The net incoming resources for the year amounted to £257,292 {2020: £21.444). Al the year-end reslricled funds lolal £26,961 12020.. £17.822} and unreslricled funds total £2.033,951 12020.. £1,785.798). 8 Koy performance Indlcators Targets are sel and are monitored during the year, and their progress inGluded within the Board Reports. They are categorised under three objectives.. To work with more people and places and create opporlunilies and inspire change To do good business with our social mission at the heart of all that we do To have an organisalion that enables us lo work in the Big Life Way 9 Rè$ervgs pollcy and golng concern Al the year end the Reserves Policy is reviewed for all Gompanies in the Group. The aim of Reserves Is to.. Reduce the risks to service delivery and operations should income levels fall for a period. Allow entry into new projects and inilialives that require investment, be paid in arrears or that may not be profitable in the early periods. Ensure that, should a contract end, funds are available lo allow redeployment of staff. Reserve Level Target free reserves (net of Fixed Assets) are based on three months, Salary levels and should be built up to that level where possible. If the level of reserves al the end of a financial year exceeds the target aim, then plans will be made to ensure that excess reserves are ulilised. Al 31 March 2021 Big Life Centres held unrestricted funds of £2.033,951 {2020'. £1.785,7981, which Included designated funds of £Nil 12020.. £53,206) which was agreed by Trustees in order to resource future project aclivily. The current largel level of reserves is £814k and the actual level of free reserves al 31 March 2021 was £914k {2020: £585k). We are currently considering capital improvemenls to the company's properly (Zion and Kath Locke) whlch will utilise excess roserves. The dlre¢lors are of the view that all companies in the Group are a going concern.
Big Life Centres Dlrectors, and trustggs, report for thè year ended 31 March 2021 (contlnued) 10 Future developmènts The Big Life Group is in the business of changing lives and we fight inequality by working with people and places to create opporlunilies and inspire change. All our services work with people to support areas of their life and help remove obstacles which are barriers lo individuals in changing their life for the beller. We help people see the skills and sUPPOrt they already have so that they can build on il and reach their full potential. Our work is done in the Big Life Way and is underpinned by five principles- We work with people on all areas of their lives and build on their skills and potential in everyone and value their life experience. We strive lo provide a first class service which develops a person's resilience and islod by them and responds lo Ihelr priorities. We never give in and celebrate a person's achievement as we understand that everyone has the Capaclly for change. We tread new ground and learn from feedback and innovate lo respond lo new challenges. We work in partnership with people and places to achieve more logolher than we can achieve alone. The Group's Business Plan 2020-25 has identified three key work priorities over the next flve years which include 111 To work with more people and places to create opportunities and inspire change.. To work with more people lo support them in all areas of their life. To have volunteer opportunities in every service. To increase the opportunities for people to engage wllh our ServIS through the use of technology, such as online chats, video conferencing and virtual reality. To develop place-based plans for every area we work in, and develop partnerships and integrated working. 12) We will be a 'good' business with our social mlsslon at the heart of all that we do.. To grow in our existing geographies lo diversify our offer and move into new areas where there Is an opporlunity lo develop significant roots to anchor ourselves in a communlly. To increase feedback lo continually improve the quality of what we do. To invest in OLJr assels and teGhnology and ensure we maxlmise efficiency and the quallty of our data lo drive service improvement. To reduce our carbon footprint and implement agile working. To ensure we have an appropriate legal 8lruclure th81 works for us and the people we work with.
Big Life Centres Directors. and trustees, report for the year ended 31 March 2021 (contlnued) (31 We will have an organisation that enables us lo work in the Bi9 Life Way.. To have management structures, IT systems and Change processes that facilitate staff and services working together. To deliver our workforce strategy, ensuring we have diverse, trained and happy staff, as evldenGed by achievement of Best Companies 3-Slar accreditation. To have trained Multi-modalily Practitioners in every service and ensure all staff will be trained in strengths based approaches. To develop tools for people lo have control of their own stories and data. To ensure Service user engagement shapos our services. To ensure all our services are informed by research and evaluation, and lo measure the impaGt of our work. 11 Provision of Informatlon to audltor Each of the persons who are Directors al the Ilme when this Dlrectors, and Trustees, Roport 18 approved has confirmed Ihal.. there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the company's auditor is unawa, and the Irusloes. havlng made enquiries of fellow directors and the company's auditor that they ought to have individually taken, have each taken all steps that helshe is obliged to lake as a director in order lo make themselves aware of any relevant audit information and lo establish that the auditor is aware of that infomialion. The Slalulory Auditor, Beever and Strulhers, w511 be proposed for reappointment In accordance wlth seGtion 485 of the Companies Act 2006. 12 Basls of preparatlon This report has been prepared in accordance with the speclal provisions relating to companies subject lo the small companies regime within Parl 15 of the Companies Act 2006. As such, the Company is exempt from preparing a Strategic report. This Annual Report is signed by the Chair on behalf of the Board of Trustees. The Trustees also approve the Direclor8' and Trustees, report which Is contained within this report, in their Capacity as Company Directors. F Selvan Trustge Dale 15 November 2021
Big Life Centres Statement of trustees. responslbllitios The Trustees (who are also directors of Big Life Cenlres for the purposes of company lawl are responsible for preparing the Trustees. Annual report and tho financial statements in accordance with applicable18w and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustees lo prepare financlal slalemenls for each financlal year in which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources. including the income and expenditure. of the charity for that period. In preparing these flnanclal slalements, the Trustees are required to.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charities SORP 2019 {FRS 102),. make judgements and accounting eslimales that are reasonable and prudent., prepare the flnancial statements on the golng concern basis unless il is inappropriate lo presume that the charity will continue in operation. The Trustees are responslble for keeplng adequate accounting records that disclose with reasonable accuracy al any time the financial position of the charity and enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Gharily and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Financial stalemenls are published on the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial slalomenls. which may vary from legislation in other jurisdicllons. The maintenance and integrity of the charity's website is the responsibility of the Iruslees. The trustees, responsibility also extends to the ongoing integrity of the financial Statements contained therein. F Selvan Trustge Dale 15 November 2021
Big Life Centres Independent auditor's report INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIG LIFE CENTRES Opinion We have audited the financial slalements of Big Life Cenlres 'lhe charitable company. for the year ended 31 March 2021 which comprise the Slalemenl of Financial Activities {combining income and expenditure accounll, the Balance Sheet including a summary of significant accounting policies in note 1. The financial reporting framework that has been applied in their preparation Is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Flnancial Reporting Standard applicable in the UK and Republic of Ireland" {Uniled Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial slatemenl$.' give a true and fair view of the stale of the chafitable company's affairs as al 31 March 2021 and of its incoming resources and application of resources for the year then ended.. have been properly prepared in accordance wlth United Kingdom Genorally Accepted Accounllng Practice. and have been prepared in accordance with the requirements of Ihe Companies Act 2006. Basls for oplnion We conducted our audit in accordan with International Standards on Audiling (UK) IISAS {UK}l and applicable law. Our responsibililios under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls section of our report. We are indepondenl of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial slalements 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 lo provide a basis for our opinion. Concluslons relatlng to going concem In auditing the financial slalemonts, we have conclude(I Ihal the Iruslees, use of the going concern basis of accounting in the preparation of the flnancial slalemenls is appropriate. Based on the work we have performed, we have not idenllfied any material unceTlainlies relating lo events or conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to continue as a going concern for a period of al least twelve months from when the financial statements are aulhorised for issue. Our responsibilities and the responslbilities of the Iruslees wlh respect lo going concern are described in the relevant sections of this report. Othèr information The other information comprises the information included In the annual report, other than the financial statements and our auditor's report thereon. The Iruslees {who are also the directors of the charitable company for the purposes of company lawl are responsible for the other information. Our opinion on the financial slaloments does not cover the other informallon and, except lo the extent olhetwise explicitly staled in our report, we do not exp$5 any form of assurance conclusion Ihereon. In connection with our audit of the flnanGial statements our responsibility is lo read the other information and. in doing so, consider whether the other information is materially inconsislenl with the financial slalemenls or our knowledge obtained in the audll or otherwise appears lo be materially misslaled. If we identify such material inconsistencies or apparent material misslalemenls, we are required to determine whether there is a material misstatement in the financial slalemenls or a material misslalement of the other information. If, based on the work we have performed, we conclude that there is a material misslatemenl of this other information, we are required lo report that fact.
Big Life Centres Indepgndgnt audltor's report INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIG LIFE CENTRES W& have nothing to report in this regard. Opinions on othgr mattgrs prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the Inform8llon glven In the Iruslees, report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financlal slalements are prepared Ss consislenl with the financial statements.. and the directors, report included within the Iruslees, report has been prepared in ac¢ordance wllh appllcable legal reouirernenls. Matters on whlch we are requlred to report by exception In the light of the knoedge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified malerlal misstalemenls in the director$, report included within the trustees, report. We have nothing lo report in respect of the following mallers in relation lo whlch Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept. or returns adequate for our audll have not been received from branches not v1511ed by us,. or the financial statements are not in agreement wllh the accounting records and returns., or certain disclosures of Iruslees, remuneration spe¢ified by law are not made,. or we have not received all the information and explanations we reqLtlre for our audit-, or the Iruslees were not entitled to prepare the financlal slatemenls in accordan wllh the small companies, regime and lake advantage of the small companies, exemptions in preparing the Iruslees, report and from the requirement to prepare a strategic report. Responsibilitigs of dirgctors As explained more fully in the Slalemenl of Trustees, Responsibilities set out on page 8, the trustees {who are also the directors of the charitable company for the purposes of company law) are responslble 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 Iruslees determine is necessary to enable the preparation of financial slalemenls that are free from material misslalement, whether due lo fraud or error. In preparing the financial slatemenls, the Iruslees are responsible for assessing the charitable company's ability lo continue as a going concern, disclosing, as applicable. matters related lo going concern and using the going concern basis of accounting unless the trustees either intend lo Ilquldate the charitable company or to cease operations, or have no realisliG alternative bul to do so. Auditor's responsibilitios for the audlt of the fiDanclal statements Our objectives are lo obtain reasonable assurance about whether the financial statements as 8 whole a free from material misstatement, whether due lo fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delecl a malefial misslalemenl 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 lo influence the economic decisions of users taken on the basis of these financial slalemenls. 10
Big Life Centres Independent audltorfs report INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIG LIFE CENTRES Audltor'8 responslbllltles for the audlt of the financlal statgmgnts {contlnuedl Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures In line with our responsibilllie8, outlined above. lo delect material misslalemenls in respect of irregularities, including fraud. The specific procedures foi this engagement and the exlenl lo which these are capable of deteGting irregularities, including fraud is detailed below.. Our approach lo idenlrfying and assessing the risks of material misslalemenl in respect of irregularities. Including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence. capabilities and skills lo identify or recognise non-compliance with applicable laws and regulations. we identified the laws and regulations applicable lo the charitable company through discussions wllh Iruslees and other management, and from our knowledge and experience of the charity sector. we focused on specifio laws and regulations which we consldered may have a direGI material effect on the financial statements or the operations of the Gharilable company, including the Companies Act 2006, the Charities Act 2011, laxalion legislation. data protection. anli-bribery, employment, environmental and health and safety legislation. we assessed the exlenl of compliance with the laws and regulations idenlrfied above through making enquiries of management and inspecting legal correspondence. Identified laws and regulallons were communicated within the audit leam regularly and the team remained alert lo instances of non-compliance throughout the audit. We assessed the susceptibility of the charitable company's financial statements lo material misslalement. including obtaining an underslandlng of how fraud might occur, by.. making enquiries of management as lo where they consldered there was susceplibilily lo fraud, their knowledge of actual, suspected and alleged fraud. considering the internal control8 in place lo miligale rlsks of fraud and non-compliance wllh laws and regulations. To address the risk of fraud through management bias and override of controls. we.. performed analyllcal proGedures on income and salaries to identify any unusual or unexpected relationships. lesled journal entries lo identify unusual Iransaclions. assessed whether judgements and assumptions made In determining the accounting estimates sel out in note 1 were indicative of potential bias. Investigated the rationale behind significant or unusual transactions. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely il is that we would become aware of non-compliance. Audillng standards also limit the audlt procedures required lo identify non-compliance with laws and regulations to enquiry of the direclo¥s and other management and the inspection of regulatory 2nd legal correspondence, if any. Material misslalemenls that arise due to fraud can be harder lo delecl than those Ihal arise from error as they may involve deliberate concealment or collusion. A further description of our responsibS1ities for the audit of the financial slalements is located on the Financial Reporting Council's website at.. www.frc.org.uklaudilorsresponsibililies. This description forms part of our auditor's report.
Big Life Centres Indopondgnt audltorfs report INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BIG LIFE CENTRES Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Parl 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate lo the charitable company's members those mallers we are required to stale lo them in an audilorfs report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other than the charitable company and the charitable company's members as a body for our audit work. for this report, or for the opinions we have formed. Sue Hutchinson FCCA (Senioi Slalulory Auditor} For and on behall of Beever and Strulhers Slatulory Auditor Sl George's House 2151219 Chester Road Manchester M15 4JE Dale: 20 December 2021 12
Big Life Centres Statgment of flnancial actlvltl8s (Combining income and expendlture account) for the year ended 31 March 2021 Restridgd funds Unrestricted funds Total 2021 Total 2020 Note Income and endowments from: Donations and logacies Charitable activities Inve51menls 4,256 5,556,403 15,235 286,451 6,554.135 11,1351 6,840,586 11.135} Total Income 286,451 6,553,000 6,839,451 5,575,894 Expendlture on: Charitable 8Gtivities 4,5,6 277,312 6.304,847 6,582,159 5,554,450 Total Expènditure 277,312 6,304,847 6,582,159 5,554,450 Net Incomg and movement In fund$ 9,139 248,153 257.292 21.444 Total Funds brought forward at 1 April 2020 17,822 1,785,798 1,803,620 1,782176 Total Funds earrl8d fonvard at 31 March 2021 26.961 2,033.951 2.060,912 1.803,620 The statement of financial activities includes all gains and losses recognised in the year. All amounts relate lo continuing aclivllles. The notes on pages 15 to 27 form parl of these financial slalemenls. 13
Big Life Centres Balanoe sheet at 31 March 2021 Company number 03311884 Notg 2021 2021 2020 2020 Fixed assgts Tangible assets 10 1.119,510 1,147,303 Current assgts Debtors Cash al bank and in hand 138.793 1,580.453 369.369 1.074,457 1.719,246 1,443,826 Crgditors: amounts falllng due within one year 12 {655.844) 1705,5091 Net current assets 1,063,402 738.317 Total assets less current Ilabllltles 2,182,912 1,885,620 Defined Benefit Pension Scheme 19 1122,0001 182,0001 Total net assets 14.15 2,060.912 1.803,620 The funds of the charlty: Reslricled income funds Unreslrlcted funds 15 15 26.961 2.033,951 17,822 1,785,798 Total funds 2,060,912 1,803,620 These accounts are prepared in acoordance with the special provisions of Part 15 of the Companies Act relating lo small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation lo members of the oompany. The financial statements on pages 13 10 27 were approved and aulhorised for issue by the board on 151h November 2021 and are signed on ils behalf by: F Selvan Trustee, approved and aulhorised on behalf of the Trustees Dale.. 15 November 2021 The notes on pages 15 10 27 form parl of these financial statements. 14
Big Life Centres Notes formlng part of the flnancial statements for the yoar ended 31 MarGh 2021 Accounting pollcles General Infomiatlon Big Life Cenlres Is a private company, limited by guarantee. Incorporate(l in England and Wales under the Companies Act 2006 and Charities Act 2011. The address of the registered office is provided in Legal and admlnislralive details. Dolai18 of the charity's operations are provided in the Directors, and Trustees. Report. Accountlng Pollcles The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparallon of the financial slalemenls are as follows.. (a) Basis of preparatlon The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019) - (Charities SORP IFRS 1021). the Financial Reptsrling Standard applicable in the UK and Republic of Ireland IFRS 1021, the Companies Act 2006 and the Charities Act 2011. Big Life Cenlres meets the definition of a publlc benefit enlily under FRS 102. Assets and liabilities are initially recogni8ed al their historic cost or Iransa¢lion value. The financial statements are prepared in sterling which is the funGtional currency of the charity. The financial statements have been prepared on a going concern basis whlch assumes an ablllty lo continue operating for the foreseeable future. There are no material uncertainties about the charity's ability lo continue as a going concern and the level of reserves al 31 March 2021 oxceeded largel reserves by £100K therefore the Trustees consider il appropriate to continue lo prepare the financial statements on a going conrn basis. The Trustees are currently considering capital improvements lo the ¢ompany's property (Zion and Kath Locke} which will utilise excess reserves. Whilst COVID-19 has had a major Impact on operational activity and service delivery (for example, a reduction in revenue from rentals should lock-downs Gonlinuel it is not expected lo have a significant impact financially in terms of golng concem. Ib) Lègal status of the Charlty The charity is a company Ilmlleij by guarantee and has no share capital. In the event of the charity being wound up, the Ilabillty In respect of the guarantee is limited to £10 per member of the Charity. (c) Incomlng resources Voluntary income is recelved by way of donations and gifts and Is Included in full in the Slalemonl of Financial Activities when receivable. Grants, including grants for the purchase of fixed assets, are recognised in full In the Statement of Financial Aclivilles in the year in which they are receivable. Government grant Income received from the Coronavirus Job Retention Scheme I'Furlough income,) has been recognised on a receivable basis In the Slalemenl of Financial Aclivilles over the same period as the costs lo which il relates. The govemmenl grant income is classified as reslricled. Services and recharge income reflects revenue recognised in respect of services supplied during the year. Incoming resources from investments is recognised when receivable. 15
Big Life Centres Notes formlng part of the flnanclal statements for the ygar ended 31 March 2021 (contlnued) Accounting policies (Gonlinued) {d} Resources expended and cost allocatlon Resources expended are recognised in the period in which they afe incurred. Resources expended are allocated lo the particular acllvily where the cost relates directly to that aclivily. Certain other costs. which are allribulable lo more than one aclivily, are apportioned across the cost categories on the basis of an estimate of the proportion of lime spent by staff on those aclivilies. Costs allocated to charitsble activities are the costs associated with achieving the charity's main objectives. Governance costs represent expenditure relallng lo the governance of the charlty, to allow il lo operate and to generate informallon for public accountability. (el Fund accountlng Unreslricled funds are donallons and other incoming resources receivable or generated for the objects of the charlty without further specifled purpose and are available as general funds. Reslrlcted funds are lo be used for speGifiG purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs. (fj Penslons Big Life Cenlres is a member of the Big Life Group's defined conlrlbution pension scheme and the pension charge relating lo this scheme represents the amounts payable by the charity to the fund In respect of the year. Big Life Centre5 is also a member of the National Health Service defined benefit pension scheme for 811 ils eligible employees. The NHS scheme is a mulli-employee defined benefit scheme where there are no separable identifiable assets and liabilities therefore costs are accounted for as a defined contribution scheme. See note 19 for further details. {g) Corporation taxatlon The charity is exempl from lax on income and gains under Section 202 of the Corporation Act 2010 to the extent that these are applied lo its charitable objects. (h) Tanglble flxed assets Items of equipment are capilalised al cost where the purchase price exceeds £2,000. Depreciation is provided lo write off the cost of tangible fixed assets on a straight line basls over their expected useful lives as follows.. Leasehold property is depreciated on a straight line basis over 60 years. Leasehold improvements are depreciated on a straight line basis over 60 years. Offlce and gym equipment is depreciated on a straight line basis over 4 years. 16
Big Life Centres Notgs fomilng part of thg financlal statomgnts for the year ended 31 March 2021 (continued) Aceountlng poliGigs (continued) (11 Dèbtors Trade and other debtors are recognised al the selllemenl amount due after any trade discount offered. Prepayments are valued at the amount propaid after taking account of any trade discounts due. ti) Cash at bank and In hand Cash al bank and cash in hand includes cash and short term highly liquid investment5 Wtlh a short malurily of three months or less from the dale of acquisition or opening of the deposit or similar account. (k) Credltors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third party and the amount due lo sellle the obligation can be measured or eslimaled reliably. Creditors and provisions are normally recognised al their selllement amount after allowing for any trade discounts due. (l) Financial Instruments The charity only has financial assets and financial liabllilies of a kind that qualrfy as basic financial Inslrumenls. Basic financial instruments are initially recognised al Iransacllon value and subsequently measured al their selllemenl value. {ml Leases Rentals payable under operating leases are charged lo the Statement of Financial Activities on a straighl-line basis over the lease term. Any premiums received al the inception of the lease are recognised on a slraighl-line basis over the life of the lease. In) Judgemènts In preparing these financial stalemenls. the dlreGtors have made the following judgemerils- Determine wh8lher leases entered into by the charity either as a lessor or a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor lo the lessee on a lease by lease basis. Determine whether there are indicators of Impairment of the charity's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash%enerating unil, the viability and expected future performance of that unil. Other key sources of esllmalion uncertainly: Tanglble flxed assets (seè notè 10) Tangible fixed assets are depreciated over Ihelr useful lives laklng into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives. factors such as technological innovallon. product life cycles and maintenance programmes are taken into account. Residual value assessments consider iSSL+es such as future market conditions. the remaining lif@ of the asset and projected disposal values. 17
Big Life Centres Notes forming part of the financial Statements for the year ended 31 March 2021 (contlnued) 2 Income from charltable actlvltles Restrlctèd Unr8strictgd Funds Funds Total Funds 2021 Restricted Unrestrlcted Funds Funds Total Funds 2020 Grants recelved The Big Local Plan Transformation Fund Furlough Grant Local Pilot Minor Grants 177,274 177.274 265,191 237,966 g67 10,260 54,468 265,191 237,966 967 10,260 56,428 76,171 32,197 809 76.171 32.197 809 1.960 286,451 286,451 568,852 1,960 570,812 ServiGgs and rgcharggs Contract services 6,127,724 6,127,724 4.575,411 4,575,411 Room bookings and external servlce chaiges 256,335 256.335 272,291 272,291 Sundry income and recharges 170.076 170,076 137,889 137,889 6.554,135 6,554,135 4,985,591 4,985.591 Total Income from charltable actlvltles 286,451 6,554,135 6,840.586 S68,852 4,987.551 5,556,403 Investments Unrgstricted Funds 2021 Unrestrlcted Funds 2020 Bank Intere81 Inlercompany Interest 2,502 13,637) 2.929 12.306 11,1351 15,235 18
Big Life Centres Notgs formlng part of the financlal statgmgnts for the year ended 31 March 2021 (continued) 4 Expendlture on ¢haritable actlvltles Services and recharges Governance 2021 2020 Staff costs Depreciation General Equipment hire Minor equipment Properly expenses Recharges - group companies Governance costs.. audit fees 3,714,658 27,793 1,820,324 7,174 22,444 215,291 764,782 3,714,658 27.793 1,820.324 7.174 22,444 215,291 764,782 9,693 2,915,461 27.793 1,555,355 8,339 43,608 372,900 625,956 5,038 9,693 6,572.466 9,693 6,582,159 5,554,450 Restricted 277,312 277,312 565,967 Unrestricted 6,295.154 9,693 6,304,847 4.988,483 6,572,466 9,693 6,582,159 5,554,450 Recharges from group companle$ relate to Finance, HR, Payroll and other c8nlral support services provided by Big Life Group. 5 Total resources expended Staff ¢osts Other Costs 2021 Total 2020 Total Dgpreclatlon Services and recharges Governance costs 27.793 3,714,658 2.830,015 9,693 6,572,466 9,693 5,549,412 5.038 27,793 3,714,658 2,839,708 6,582,159 5,554,450 6 Summary analysis of expendlture and rèlated income Income Expenditure Net Contract services Room hire other Interest Governance.. audit fees 6,414,175 256,335 170,076 11,135) 6,572,466 1158,291) 256,335 170,076 11,135) 19,6931 9,693 6,839,451 6,582,159 257,292 19
Big Life Centres Notes formlng part of the flnanclal statomgnts for the year ended 31 March 2021 (continued) Net income Nel inGome for the year is staled after charging.. 2021 Total 2020 Total Rental under operating leases- office equipment Auditor's remuneration Depreciation 8,783 9,693 27,793 3,192 5,038 27,793 46,269 36,023 Remuneratlon and expenses 2021 2020 staff costs.. Salaries Social security costs Pension costs {see note 191 Defined Benefit Pension costs {see note 19) 3,255,128 257,102 162,428 40,000 2,539.567 209,926 132,968 33,000 3,714,658 2.915.461 The average full lime equivalent number of persons employed {ba5ed on a 35 hour weekl and analysed by functlon was.. Number Number Services and projects 122 101 The average monthly headcounl was 139 staff {2020 - 117 staff). No employee received emoluments of more than £60,000 in the current or prior year. Key management personnel of the charity are the Trustees and senior leadership of the group. Costs are borne by the parent company, The Big Life Company Limited and are not recharged to Big Life Centres. The total employee benefits paid lo key management personnel by The Big Life Company Limited was £409,631, Comprised of salary of £352,000, pension contributions of £16.250 and employers national insurance contributions of £41,381 12020.. £390,827, comprised of salary of £338,000, pension contributions of £15,500 and employers national insurance contributions of £37.3271. The salary of the Chief Executive and Accounting Officer, a Trustee. is paid by The Big Life Company Limited. Employee benefits of £106.148, comprised of salary of £90.000, pension contributions of £4,250 and employers national insurance contributions of £11,89812020.' £99,099 comprised of salary of £85,000, pension contributions of £4,250 and employers national insurance contributions of £9,849) was paid by The Big Life Company Limited during the year. Tru$tg9¥' Trmuneration and expenses During the year remuneration of £8,00012020.. £8,000) was paid lo E Robinson, a Iruslee, by The Big Life Company Limited for her role as chair of The Big Life Company Limited. Costs are borne by the parent ¢ompany, The Big Life Company Limited and are not recharged lo Big Life Cenlres. No other Iruslee received remuneratlon from the charity or a related enlily during the year {2020.. £nill other than as disclosed in nole 8. No Teimburserrenl of expenses h88 been made lo Iruslees during the year {2020.' £nil}- 20
Big Life Centres Notès fomiing part of thè financlal Statemènts for tho year ended 31 Maroh 2021 (contlnued) 10 Tangible flxed assets Leasehold property Leasehold Improvements Offlce Equlpment Gym Equlpment Total Cosl Al 1 Aprll 2020 1,600,000 67,471 57,613 16,060 1,741,144 Al 31 March 2021 1,600,000 67,471 57.613 16.060 1,741.144 DepreGlation At 1 April 2020 Charge for the year 506,658 26,666 13.510 1.127 57.613 16.060 593,841 27,793 Al 31 March 2021 533,324 14,637 57,613 16,060 621,634 Net book value Al 31 March 2021 1,066.676 52,834 1.119,510 Al 31 March 2020 1.093,342 53,961 1,147,303 11 Dobtors 2021 2020 Trade debtors Amounts owed by group entities Prepayments Accrueil Income 34,317 75,041 29,435 197,104 130.113 41.184 968 138,793 369.369 All debtors fall due within one year. Amounts owed by group undertakings are unsecured and repayable on demand. 21
Big Life Centres Notes forming part of the flnanclal statomgnts for the year endod 31 March 2021 (continued) 12 Credltors: amounts falling dug within one year 2021 2020 Trade credilofs Amounts owed lo group entities Social security and other taxes Accruals Deferred income {nole 131 71,704 32,487 45,235 258,168 248,250 155.664 69,920 64,214 200.817 214.894 655,844 705,509 All creditors fall due within one year. Amounts owed lo group undertakings are unsecured, interest free and repayable on demand. 13 Deferred Income Deferred income represents grant, servlces and rechargo income received in advance. Balance al 1 April 2020 Amounts received and deferred In the year Amounts released lo Incoming resources in the year 214,894 173,132 1139,7761 Balance at 31 March 2021 248,250 Of the £248.250 of deferred incorne, £5,500 for Kalh Locke Centre room bookings, £5,775 is held for Salford Healthy Livirbg Centre room bookings, £2,525 for Rochdale Living Well walking groups, £30,000 for Rochdale Living Well Covid project, £99,041 for Big Local Plan, £59,230 for Achieve underspend, £6,211 for Kirkholl Ride & Repair, £8,637 for Local Pilot, £10.000 for Whisper Sisters, £6,070 for childhood Obesity Trail Blazer, £14,000 for Wellbeing Matters, £261 for Be Well and £1,000 for MFP. 14 Analysis of n8t assats batwgon funds Rostricted Unrestrlct9d Total Nel current assets Defined benefit pension scheme liability Fixed assets 26,961 1,036,441 (122,0001 1,119,510 1,063,402 (122,0001 1,119.510 26,961 2,033,951 2.060.912 22
Big Life Centres Notgs forming part of th8 financial statements for the year ended 31 March 2021 (contlnued) 15 Movement In funds Balance At 1 Aprll 2020 Balance at 31 March 2021 Income Expendlturg Transfers Rostrictod fund$ Chisholm Memorial Transition Fund Manchester City Council I Other Transformation Fund Big Local Plan Kirkholt Repalr & Ride Local Pilot- Sport England Free from Eczema Furlough Grant IHMRCI 6,250 6,250 1.033 1,033 4,644 4,644 5,595 5,595 177,274 809 167,835 809 9,439 32,197 32.197 300 300 76,171 76.171 Subtotal 17,822 286,451 277,312 26,961 Unrestrlcted funds General funds 1,732,592 6,553.000 6,304,847 53,206 2.033,951 Designated project funds 53,206 (53,2061 Total funds 1,803,620 6.839.451 6,582.1 $9 2,060,912 Al 31 March 2021 Big Life Centres held reslricled funds of £26,961 12020 - £17,822) this comprised £6,250 remaining from the Di Chisholm Memorial which paid for the outdoor gym al the Zion Cenlre, £1,033 remalning from the Transition fund which allowed preparations and slrucluring for the change in funding, £4,644 for several small projects from Manchester City Council and other5, £5,595 from the Transformation Fund funded by Rochdale Borough Council and £9,439 from Big Local Plan. At 31 March 2021 Big Lrfe Cenlres held general funds of £2,033,951 (2020 - £1,732.5921. Al 31 March 2021 Big Life Centre5 held designated funds of £0 in relation to specifio future project commitments 12020 £53,206). The reserve level is considered sufflclent to sa115fy the reserves policy. 23
Big Life Centres Notes fomiing part of the financial statements for the year ended 31 March 2021 (contlnued) 16 Related party transactlons In accordance with FRS 102, the charity dlscloses related party transactions that were recognised in the Slalemenl of Financial Aclivilies. Remuneratlon of key management personnel is disclosed in note 8. Trustees. remuneration and expenses are disclosed in note 9. The charity Is charged for direct salary costs, finance, HR. payroll services and other central support services provided by The Big Life Company Limited. Salary costs are reoharged based on staff Ilme and other costs are recharged based on % of income. During the year the charity charged other group entities £19,28712020.. £42,022) for office space and room rentals. Related party transactions with other group entities durlng the year with were as follows.. Amounts charged to Amounts charged by group entities group entities 2021 2021 2020 2020 The Big Life Company Limited Self Help Services Ltd Big Issue North Trust Ltd Big Life Schools 14,146 5,141 30,089 4,567,436 3,580,154 9,959 1,974 19,287 42,022 4,567,436 3.580,154 rhe following amounts were owed byllo group entities the year-end: Amounts owed by group entitles 2021 Amounts owed to group gntities 2021 2020 2020 The Blg Llfe Company Limited Self Help Services Lt Big Issue North Trust Ltd Big Life Schools 68,802 6,239 31,702 2,902 154,487 151.919 75.041 34,613 154.487 151,919 In addition the charity's defined benefit pension scheme liability is a gLJarantee lo The Big Life Company Limited lo underwrite the deficit in respect of appropriate Big Life Cenlres employees. Further details are disclosed in note 19. There were no other related party transactions during the year12020'. none). 24
Big Life Centres Notes formlng part of the flnanclal statgments for the year ended 31 March 2021(continued) 17 Ultimatg parent undertaklng and controlling party The ultimate parent company and controlling party Is The Big Life Company Limited, a company limited by guarantee incorporated in England and Wales. The parent undertaklng of the smallest and largest group for which consolidated accounts are prepared is The Big Life Company Limited. Consolidated accounts are available from Companies House, Crown Vvay, Cardrff, CF14 3UZ. The mlssion of The Big Life Company Limited is to create opportunities for the people who have the least to change their lives. Two of the directors of Blg Life Cenlres are also directors of The Big Life Company Limiled. Operational and strategic oversight of Big Life Cenlres is exercisod by The Big Life Company Limited. 18 Commltmgnts Operatlng Igasg commltments At 31 March 2021, the charity had total future minimum commitments under non-cancellable operating leases as sel out below: 2021 2020 Operating leases commltmenl$ which are owed.. Land and bulldlngs Not later than one year 12.000 12.000 Offlce èquipment Not later than one year Later than one year and not later than five years 6,511 10,058 3,192 7,182 16,569 10,374 25
Big Life Centres Notès foming part of the flnancial statements for the year gnded 31 March 2021 (Gontinued) 19 Penslons Big Lèfe Centres operates three pension schemes.. Big Llfe Cenlres Pension Fund This Is a defined contribution scheme available lo all employees. N8tion81 He8lth servi Pension Scheme (group) Past and present employees are covered by the provisions of an NHS Pension Scheme. Details of the benefits payable and rules of the Scheme can be found on the NHS Pensions website at www.nhsbsa.nhs.ukJpensions. It is an unfunded defined bonefil scheme that covers NHS employers. GP practices and other bodies. allowed under the direction of the Secretary of Slate for Health and Social Care in England and Wales. 11 is not designed lo be run in a way that would enable NHS bodies lo identify their share of the underlying scheme assets and liabilities. Therefore. the scheme is accounted for as if it were a defined contribution scheme.. the cost lo the NHS body of parlicipallng in the scheme 18 taken as equal lo the contributions payable lo that scheme for the accounting period. In order that the defined benefll obligations recognised in the financial statements do not differ materially from those that would be determined al the reporting dale by a formal actuarial valuation, the FReM requires that the period between formal valuations shall be four years, with approximate assessments in intervening years.. An outline of these follows.. a) Accounting valuation A valuation of scheme Ilabilily is carried out annually by the scheme actuary (currently the Govemmenl Actuary's Deparlmenll as al the end of the reporting period. Thi5 ulilises an actuarial assessment for the previous accounting period in conjLJnction with updated membership and financial data for the current reporting period. and is accepted as providing suitably robust figures for financial reporting purposes. The valuation of scheme liability as al 31 March 2021, Is based on valuation data as 31 March 2020, updated 10 31 March 2021 with summary global member and accounting data. In undertaking this actuarial assessment, the methodology prescribed in IAS 19. relevant FReM inlerprelations, and the discount rate prescribed by HM Treasury have also been used. The valuation methodology prescribed in IAS 19 is considered to be broadly aligned with that of FRS 102 under UK GAAP which are the aGGounling standards applicable lo Big Life Cenlres. The latest assessment of the liabilities of the scheme is contained in the report of the scheme actuary which forms part of the annual NHS Pension Scheme (England and Wales) Accounts. These accounts can be viewed on the NHS Pensions website and are published annually. Copies can also be obtained from The Slalionery Office. bl Full acluarial Ifundingl valuation The purpose of this valuation is lo assess the level of liability in respect of the benefits due under the schemes Ilaking into account recent demographic experience). and lo recommend conlrlbution rates payable by employees and employers. The latest actuarial valuation undertaken for the NHS Pension Scheme was completed as at 31 March 2016. The results of this valuation set the employer contribution rale payable from 1 April 2019 10 20.6¥0, of pensionable pay. The 2016 funding valuation was also expected lo lesl the cost of the Scheme relative to the employer cost cap that was set following the 2012 valuation. In January 2019, the Government announced a pause lo the cost control element of the 2016 valuations, due lo the uncertainly around member benefits caused by the discrirrinalion ruling relating lo the Mccloud case. 26
Big Life Centres Notos formlng part of the flnancial statements for thg year ended 31 March 2020 (contlnued) 19 Penslons l¢ontlnued) The Government subsequently announced in July 2020 that the pause had been lifted. and so the cost control element of the 2016 valuations could be completed. The Government has sel out that the costs of remedy of the discrimination will be included in this process. HMT valuation directions will sel out the technical detail of how the costs of remedy will be inclLided in the valuation process. The Government has also confirmed that the Government Actuary is reviewing the cost control mechanism {as was originally announced in 2018}- The review will assess whether the cost control mechanism is working in line with original government objectives and reported lo Government in April 2021. The findings of this review will not impact the 2016 valuations. wllh the aim for any changes lo the cost cap mochanism lo be made in lime for the completion of the 2020 actuarial valuations. Local Government Scheme- The Greater Manchester Penslon Fund IGMPFI The defined benefit pension scheme liability reflects the Charity's share of the Local Government defined benefit deficit in respect of ils employees. The amount is a gLJaranlee lo The Big Life Company Limlled lo undeNrile the deficit in respect of appropriate Big Life Cenlres employees. 20 Donatlons Big Lrfe Cenlres is not charged rent for occupying tho Kath Locke Centre from Places for People. Big Life Cenlres has the right lo occupy the property rent free provided they are operating within their charitable objoclives as noted in the Trustees report. The market value of the annual rent al the properly is deemed not material lo Big Life Cenlres and the Trustees do not believe il lo be commercially efficient lo spent lime or resources on obtaining an accurate value. Therefore no value has been included in the financial slalemenls. 27