Draft Financial Statements at 16 September 2022 at 14:09:41
Charity registration number 1072345
Company registration number 03271124 (England and Wales)
LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | M Gilhooley |
|---|---|
| N Jirvan | |
| R Kingett | |
| P Overty | |
| V Pankhania | |
| A Patel | |
| L White | |
| Charity number | 1072345 |
| Company number | 03271124 |
| Principal address | West End Centre |
| Andrewes Street | |
| Leicester | |
| LE3 5PA | |
| Registered office | West End Centre |
| Andrewes Street | |
| Leicester | |
| LE3 5PA | |
| Independent examiner | Philip John Dymond FCCA |
| Cheyettes Ltd | |
| 167 London Road | |
| Leicester | |
| LE2 1EG |
Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Summary income and expenditure account | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 14 |
Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their annual report and financial statements for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2016).
Objectives and activities
The charitable company was established to promote the benefit of disabled people by providing or encouraging the provision of services which facilitate independence in daily living activities, active participation in and full integration into society.
The main objectives of the charitable company which are considered to be of particular value and importance are:
-
providing a range of training programmes, delivered by LCIL staff or to commission others to deliver as appropriate;
-
working directly with statutory and non-statutory organisations to raise the awareness and equality issues regarding disability;
-
providing information, advice and give guidance around issues disabled people, carers, parents and family members experience on a daily basis;
-
support and encourage other organisations to make buildings, services and processes accessible to enable active participation of disabled people in all areas of life by offering accessible to all audits, promoting the Equality Act and evidencing good practice works by LCIL.
In order to achieve these objectives, the organisation has employed the following strategies:
A) developed training events to increase awareness of disability issues;
B) hosting a number of workshops and legal briefings for disabled people;
C) improving the dissemination of information through a revamped newsletter and website as well as making far better use of social media and running a regular cafe with themed sessions;
D) carrying out access audits;
E) operating a free drop in service for disabled people, who have access to information, advice and signposting.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.
The charitable company benefits from the voluntary services of a number of helpers and extends its thanks to all who have assisted with the ongoing charitable work of the organisation.
Achievements and performance
The charitable company's activities during the year have been undertaken in pursuance of its primary aims and objectives as noted above. Further detailed information on the achievements and performance of individual projects is contained in the notes to the financial statements.
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Financial review
The trustees are continuing to identify and pursue new opportunities to generate income, particularly around the Personalisation Agenda which is to be supported by additional grant income and private finance. This, together with the charitable company's existing funding should lead to LCIL becoming a more sustainable organisation. Currently, the sources of funds received during the year were local authorities and partnerships.
The Statement of Activities shows total income of £82,084 including Covid grants and support. The SOFA demonstrates a general fund surplus of £42,809 although there was an overall charity deficit of £173,854 (2020 - deficit £24,710).
At 31st March 2021 the free reserves of the charity were £64,740 (2020 - £21,931). This equates to more than 8 months general fund expenditure and, as such, is in accordance with the reserves policies set out in this report.
The trustees operate a risk management policy which comprises the following:
-
an ongoing review of the various risks which the charitable company faces in respect of the sector in which it operates;
-
the establishment of systems, where considered necessary, to mitigate the risks identified;
-
the implementation of such procedures to minimise the impact on the charity should those risks materialise.
In respect of financial risks, the trustees have established a practical and sustainable reserves policy to ensure the viability of the charitable company in the foreseeable future. In addition, the trustees meet regularly with the Chief Executive to ensure that the charitable company's level of reserves meets the immediate funding requirements.
In respect of non-financial risks, particular attention has been focused on compliance with the health and safety of staff, volunteers, members and beneficiaries of the charitable company. An annual review of health and safety risks at the Centre is undertaken to ensure that all concerns are addressed and any potential hazards are minimised.
The trustees are continuing to identify and pursue new income streams resulting from the Personalisation Agenda to complement our core local authority funding. This should lead to LCIL becoming a more sustainable organisation that is less dependent upon the receipt of local authority and government grant income, which is becoming harder to secure.
Structure, governance and management
The charitable company is a company limited by guarantee and is governed by its Memorandum and Articles of Association incorporated 24th October 1996 as amended by Special Resolution dated 16th September 1998.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
M Gilhooley J Hargrave (Resigned 13 June 2021) N Jirvan R Kingett P Overty V Pankhania A Patel L White
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
As set out in the Articles of Association, all trustees are nominated by members of the charity who are circulated with an invitation to nominate prospective trustees prior to the Annual General Meeting.
The maximum number of trustees who can serve at any time is 15, at least five of whom must be disabled people from ethnic minority communities and at least half must be women. If these figures are not attained then the required number of posts have to be left vacant to allow for appointment at a later date.
The trustees have the power to co-opt up to a maximum of 5 people. Co-opted members may be either a disabled or non-disabled person and will serve for a period so determined at their appointment.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company
and guarantee to contribute £1 in the event of a winding up.
Whilst the business of the charitable company is managed by the trustees who meet at least quarterly, a Chief Executive Officer has been appointed for operational matters including finance and employment. This post is currently held by Laura Horton.
New trustees receive an induction pack which sets out their obligations under charity and company law, a copy of the Memorandum and Articles of Association, details of the financial position of the charity, information about the meetings they will be required to attend and the format of such meetings. An induction day is also organised in order that new trustees can meet members of staff and gain an awareness of the work undertaken by the organisation. All trustees are encouraged to attend appropriate external training events where these facilitate the undertaking of their role.
The principal activity of LCIL Trading Limited, a wholly owned subsidiary of the charity, has been the provision of consultancy, access audits and hosting of exhibitions and events i.e. Choice Unlimited to bring together disabled people and service providers. In this respect, the profits of the trading company may be applied to support Leicestershire Centre for Integrated Living Limited by making donations in cash or assets as the subsidiary company's directors deem expedient.
This report was prepared having taken advantage of the small companies exemption in the Companies Act.
The trustees' report was approved by the Board of Trustees.
L White
Trustee Dated: 7 September 2022
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
I report to the trustees on my examination of the financial statements of Leicestershire Centre for Integrated Living Ltd (the charitable company) for the year ended 31 March 2021.
Responsibilities and basis of report
As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Philip John Dymond FCCA
Cheyettes Ltd 167 London Road Leicester LE2 1EG
Dated: 12 September 2022
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
| Unrestricted Endowment funds funds 2021 2021 Notes £ £ |
Unrestricted Endowment funds funds 2021 2021 Notes £ £ |
Unrestricted Endowment funds funds 2021 2021 Notes £ £ |
Total Unrestricted Endowment |
Total Unrestricted Endowment |
Total Unrestricted Endowment |
Total 2020 £ 17,700 - 17,700 39,632 |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2021 | 2021 | 2021 | 2020 | 2020 | ||
| £ | £ | £ | £ | £ | ||
| Income and endowments from: | ||||||
| Donations and legacies 3 |
3,155 | - | 3,155 | 17,700 | - | |
| Other income 4 |
78,929 | - | 78,929 | - | - | |
| Total income | 82,084 | - | 82,084 | 17,700 | - | |
| Expenditure on: | ||||||
| Charitable activities 5 |
89,275 | - | 89,275 | 39,632 | - | |
| Net gains/(losses) on investments 8 |
- (166,663) (166,663) |
- | ||||
| (2,778) | (2,778) | |||||
| Net outgoing resources before transfers Gross transfers between funds |
||||||
| (7,191) (166,663) (173,854) |
(21,932) | (2,778) | (24,710) | |||
| 50,000 (50,000) - 42,809 (216,663) (173,854) |
- | |||||
| (50,000) | - | - | - | |||
| Net movement in funds | (21,932) | (2,778) | (24,710) | |||
| 263,303 238,593 |
||||||
| Fund balances at 1 April 2020 | 21,931 | 216,663 | 238,594 | 43,863 | 219,440 | |
| Fund balances at 31 March 2021 |
||||||
| 64,740 | - | 64,740 | 21,931 | 216,662 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
SUMMARY INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021
| All income funds 2021 £ Gross income 82,084 Transfer from endowment funds 50,000 Total income in the reporting period 132,084 Total expenditure from income funds 89,275 Net income/(expenditure) for the year 42,809 |
All income funds 2021 £ Gross income 82,084 Transfer from endowment funds 50,000 Total income in the reporting period 132,084 Total expenditure from income funds 89,275 Net income/(expenditure) for the year 42,809 |
2020 £ 17,700 - 17,700 39,632 |
|---|---|---|
| 2021 £ 82,084 50,000 132,084 89,275 42,809 |
||
| Gross income | ||
| Transfer from endowment funds | ||
| Total income in the reporting period | ||
| Total expenditure from income funds | ||
| Net income/(expenditure) for the year | (21,932) |
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
BALANCE SHEET
AS AT 31 MARCH 2021
| Notes | 2021 | 2020 | ||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Fixed assets | ||||
| Investment properties 9 Current assets |
- 175,417 7,192 182,609 (160,679) 64,740 64,740 |
216,663 | ||
| Debtors 10 |
||||
| Net current assets | 21,930 | |||
| Total assets less current liabilities | ||||
| 238,593 | ||||
| Capital funds | ||||
| Endowment funds - general 13 |
- 64,740 64,740 |
216,662 | ||
| Income funds | ||||
| Unrestricted funds | 21,931 | |||
| 238,593 |
The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2021. No member of the charitable company has deposited a notice, pursuant to section 476, requiring an audit of these financial statements.
The trustees acknowledge their responsibilities for ensuring that the charitable company keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 7 September 2022
L White
Trustee
Company Registration No. 03271124
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
Charity information
Leicestershire Centre for Integrated Living Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is West End Centre, Andrewes Street, Leicester, LE3 5PA.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2016). The charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charitable company.
1.4 Income
Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is included in the statement of Financial Activities on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Overheads have been allocated on the basis of an estimate of the proportion of staff time expended on particular projects and activities.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those directly in support of expenditure on the objects of the charitable company and include project management.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 15% per annum on a straightline basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in net income/(expenditure) for the year. {If #vrm34=0 And #frs267<2 Then Else
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
- 1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted Unrestricted funds funds 2021 2020 £ £ |
Unrestricted Unrestricted funds funds 2021 2020 £ £ |
Unrestricted Unrestricted funds funds 2021 2020 £ £ |
|---|---|---|
| funds | funds | |
| 2021 | 2020 | |
| £ | £ | |
| Donations and gifts | 5 | - |
| Grants receivable | 3,150 | 17,700 |
| 3,155 | 17,700 |
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 4 Other income |
4 Other income |
4 Other income |
|
|---|---|---|---|
| Unrestricted funds 2021 £ HMRC JRS grants 50,423 LCC Covid support grants 28,506 78,929 |
|||
| Total | |||
| funds | |||
| 2021 | 2020 | ||
| £ | £ | ||
| 50,423 | - | ||
| 28,506 | - | ||
| 78,929 | - | ||
| 5 Charitable activities |
|||
| Provision of advisory and training services: Staff costs Consultancy, research and training Support costs: Travel expenses Premises costs Office and sundries Legal and professional fees Independent examiner's fees Interest and charges |
|||
| 2021 | 2020 | ||
| £ | £ | ||
| 59,831 | 27,110 | ||
| - | 1 | ||
| 111 | 350 | ||
| 21,039 | 7,580 | ||
| 6,947 | 1,267 | ||
| 400 | 1,223 | ||
| 835 | 800 | ||
| 112 | 1,301 | ||
| 89,275 | 39,632 |
6 Trustees
None of the trustees (or any persons connected with them) received any remuneration, benefits or reimbursement of expenses from the charitable company during the year.
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
7 Employees
Number of employees
The average monthly number of employees during the year was:
| 2021 | 2020 | |
|---|---|---|
| Number | Number | |
| Direct charitable expenditure | 5 | 6 |
| Trustee directors | 8 | 8 |
| 13 | 14 | |
| Employment costs | 2021 | 2020 |
| £ | £ | |
| Wages and salaries | 59,021 | 26,406 |
| Social security costs | - | 392 |
| Other pension costs | 810 | 312 |
| 59,831 | 27,110 |
There were no employees whose annual remuneration was £60,000 or more.
8 Net gains/(losses) on investments
| Endowment Endowment funds funds general general 2021 2020 £ £ Revaluation of investment properties (166,663) (2,778) 9 Investment property |
Endowment Endowment funds funds general general 2021 2020 £ £ Revaluation of investment properties (166,663) (2,778) 9 Investment property |
Endowment Endowment funds funds general general 2021 2020 £ £ Revaluation of investment properties (166,663) (2,778) 9 Investment property |
|---|---|---|
| funds | ||
| general | ||
| 2020 | ||
| £ | ||
| (2,778) | ||
| 9 Investment property |
||
| Fair value At 1 April 2020 Disposals At 31 March 2021 |
2021 | |
| £ | ||
| 281,686 | ||
| (281,686) | ||
| - |
The above investment property is a 99 year leasehold commencing May 1999 and is being amortised on a straight line basis over the course of the lease.
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
| 10 Debtors Amounts falling due within one year: Amounts owed by subsidiary undertakings Prepayments and accrued income 11 Loans and overdrafts |
||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| 174,580 | 175,222 | |
| - | 195 | |
| 174,580 | 175,417 | |
| Other loans Payable within one year 12 Creditors: amounts falling due within one year |
2021 | 2020 |
| £ | £ | |
| 89,256 | 91,356 | |
| 89,256 | 91,356 | |
| Borrowings Other taxation and social security Trade creditors Other creditors Accruals and deferred income |
2021 | 2020 |
| £ | £ | |
| 89,256 | 91,356 | |
| 35,970 | 31,528 | |
| 9,575 | 13,296 | |
| 10,033 | 10,033 | |
| 14,486 | 14,466 | |
| 159,320 | 160,679 |
13 Endowment funds
Endowment funds represent assets which must be held permanently by the charitable company. Income arising on the endowment funds can be used in accordance with the objects of the charitable company and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
| Balance at 1 April 2019 Resources expended Balance at 1 April 2020 £ £ £ |
Balance at 1 April 2019 Resources expended Balance at 1 April 2020 £ £ £ |
Balance at 1 April 2019 Resources expended Balance at 1 April 2020 £ £ £ |
Balance at 1 April 2019 Resources expended Balance at 1 April 2020 £ £ £ |
Transfers Revaluations gains and losses Balance at 31 March 2021 |
Transfers Revaluations gains and losses Balance at 31 March 2021 |
Transfers Revaluations gains and losses Balance at 31 March 2021 |
|---|---|---|---|---|---|---|
| £ | £ | £ | £ £ |
£ | ||
| Permanent endowments | ||||||
| Leasehold buildings | 219,440 219,440 |
(2,778) | 216,663 216,663 |
(50,000) (166,663) |
- | |
| (2,778) | (50,000) (166,663) |
- |
The permanent endowment represents the written down value of the long leasehold, which is held for the continued benefit of the charitable company.
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Draft Financial Statements at 16 September 2022 at 14:09:41 LEICESTERSHIRE CENTRE FOR INTEGRATED LIVING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
| 14 Analysis of net assets between funds |
14 Analysis of net assets between funds |
14 Analysis of net assets between funds |
||||
|---|---|---|---|---|---|---|
| Unrestricted Endowment 2021 2021 £ £ Fund balances at 31 March 2021 are represented by: Investment properties - - Current assets/(liabilities) 64,740 - 64,740 - |
Total Unrestricted Endowment |
Total | ||||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | £ | £ | |
| - | - | - | 216,663 | - | 216,663 | |
| 64,740 | - | 64,740 | 21,930 | - | 21,930 | |
| 64,740 | - | 64,740 | 238,593 | - | 238,593 |
15 Related party transactions
The charitable company is the sole member of LCIL Trading Limited.
The charitable company and its subsidiary have taken advantage of the exemptions contained in the Companies Act 2006 from the obligation to prepare group accounts on the basis that group qualifies as small.
The charitable company shares premises, staff and services with its subsidiary. During the prior year, costs and overheads attributable to the subsidiary of £60,507 were allocated to the company based upon time and resources devoted to the trade. At 31st March 2021 £174,580 remained outstanding from LCIL Trading Limited to the charity (2020 - £175,222).
The aggregate reserves of LCIL Trading Limited at 31st March 2021 amounted to the sum of £(160,200); 2020 - £(166,044).
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