**REGISTERED COMPANY NUMBER: 03248264 (England and Wales) REGISTERED CHARITY NUMBER: 1078426**
Report of the Trustees and
Financial Statements for the Year Ended 31 December 2021
for North Liverpool Regeneration Company Ltd
V & R Accountancy Services Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
North Liverpool Regeneration Company Ltd
Contents of the Financial Statements for the Year Ended 31 December 2021
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|4|
|Independent Examiner's Report||5||
|Statement of Financial Activities||6||
|Balance Sheet|7|to|8|
|Notes to the Financial Statements|9|to|14|
North Liverpool Regeneration Company Ltd (Registered number: 03248264)
## Report of the Trustees
## for the Year Ended 31 December 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
North Liverpool Regeneration Company Limited was established with the objectives of the promotion, for public benefit, of urban or rural regeneration in areas of social and economic deprivation in Merseyside.
On 10th June 2021, a special resolution was passed by the Board to add the following to the Company's objects:
To promote and protect all or any aspects of the health of the public by (but without prejudice to the generality of the foregoing), the provision of financial and other forms of support to registered charities focused on cancer and the care of children suffering from illness or disability.
## **Public benefit**
The Trustees confirm that they have referred to the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning the future activities of the Charity.
The Charity delivers public benefit by:
1) Continuing to work towards developing a sustainable community based facility within the local area. The Charity always has the focus of accessing resources in order to create facilities to improve both the social and economic development of the local area.
In furtherance of this aim, North Liverpool Regeneration Company have been working closely with another like minded charity based in the south end of the city. We have developed a strong partnership with The Florence Institute Trust (the Florrie) and have been working closely on both a new training initiative and community activities. We have successfully collaborated on initiatives such as the Summer Playscheme and the Summer School Meal Project which is much needed due to the high level of poverty and deprivation experienced by families within the south end of the city. NLRCo has also arranged day trips for members of the local community and have organised and hosted sporting activities.
2) The Charity delivers training programmes, such as the Access To Work Programme (ILM). Strong links with local Companies create employment opportunities for the candidates with the view to them either progressing onto an Apprenticeship or further training.
3) The land and buildings owned by the Charity have been renovated to high standards so that they can be put into effective use, for office space and residential accommodation to let.
Page 1
North Liverpool Regeneration Company Ltd (Registered number: 03248264)
for the Year Ended 31 December 2021
## Report of the Trustees
## **ACHIEVEMENT AND PERFORMANCE**
## **Review of activities**
The period of 2021 was still a strange year, part of the year was dealing with the small relaxation of the COVID rules and coming out of lockdown once the lockdown rules had been lifted and trying to get back to normality after living through impacts of the pandemic. As an organisation, we continued to ensure that H&S was at the forefront of our activities to ensure that staff, community members and volunteers remained safe. Even though the lockdowns had been lifted and everyone was getting back to normal, COVID still existed. During the period of 2021, we continued to hold meetings via zoom and teams' calls, and life started to get back to normal slowly.
## **64 Mount Pleasant**
As stated in last year's report, we met with Cunliffe Architect as a starting point regarding the planning conditions and identified the next steps to get the project underway. Cunliffes and a further Architects Studio RBA tendered with proposed costing to become the appointed Architects on the project, on review of both proposals Studio RBA were appointed. We have been working closely with Studio RBA regarding the drawing, they are currently at Stage 4 of their scheme regarding the drawing. Due to the planning constraints of the refurbishment work they are having to work closely with Liverpool City Council Planning to ensure that all of the constraints are satisfied with the planning conditions. Due to COVID and other issues at the Council it has been a challenge and has slowed the process down. At present Studio RBA are currently talking to 4 local contractors regarding tendering for the work. Studio RBA have agreed as part of the tendering process that they will stipulate that local labour and purchasing will take place on the project to reinforce inward investment for Local Companies in Liverpool.
Page 2
North Liverpool Regeneration Company Ltd (Registered number: 03248264)
for the Year Ended 31 December 2021
## Report of the Trustees
## **ACHIEVEMENT AND PERFORMANCE**
## **Training**
As stated in last year's report the organisations, the employers and partners we were working with on the ILM and Inclusion & Progression project adapted the deliver to ensure that the delivery of the programme was not impacted due to the pandemic. Unfortunately the ILM project came to an end in July 2021. Partner organisations and ourselves were disappointed when Alt Valley informed us that they would not be going for an extension on the project. The project really gave young people the opportunity to find their feet in an employment setting, access training to support their knowledge and skill set and also helped them gain first-hand experience of working life for a 26-week period. The opportunity of the ILM programme gave the candidates a chance to build up their CV's and also helped to develop their soft skills such as confidence building, motivation, communication skills, work ethic, skills which they might have not developed before due to lack of experience. The candidates received training to assist them in applying for full time employment. NLRCo maintained the 95% success rate till the end of the project, and we would like to thank all of the organisations/companies which we have worked with over the ILM project for making it such a successful programme.
## **Inclusion and Progression**
The Inclusion and Progression programme is currently in the 2nd phase of delivery, partners continued to reach students via zoom sessions during lock down and since lock down have reported back that they found it hard to encourage young people back into the centres to take part in the training. Due to this, recruitment has been slow in the second phase of the delivery. We have been working with partners to think of alternative ways to engage with young people. Numbers have been increasing and candidates have been successfully hitting the positive outcomes of progressing into further training or employment.
The Inclusion and progression programme is now in its second phase of delivery, as noted within the last report the two main delivery partners are VNC and MCDT. Both partners continued to delivery training during the pandemic it was a challenge, but they had to provide alternative provision via Zoom classes, work packs whilst they could not have face to face contact within the training facilities. The project is planned to run till June 2022, the project is still successfully hitting positive outcomes in the region of 90% with candidates progressing into further training of apprenticeship or traineeship. Some candidates have even progressed into Employment or onto the Kick Start Programmes. At present we are working with the DWP to submit an Extension of provision on the project up until December 2023. We are also hoping that as time goes by the DWP will announce further funding opportunities that we can apply for.
## **Kick Start Project**
The Kick Start programme was a challenge and due to having to work through the DWP for recruitment it created a lot of barriers. We fulfilled our commitment of delivery, with some very successful outcomes of young people securing future employment and further training. The grass route experience that the young people received gave them the real experience that they required to develop new skills to enhance their own confidence levels. However, we believe if NLRCo would have had more control over the recruitment and the approval of employers being involved in the project we would have been able to reach out to more young people.
The trustees consider that the charity's aims have been delivered in this financial year but it has not been without challenge or negativity from Local Councillors, community members and publicity in Local Newpapers. As Trustees we have had to manage the negativity and focus on the positive outcomes of the work which are coming from the Community projects.
## **FINANCIAL REVIEW**
## **Investment policy and objectives**
The trustees' investment powers are governed by the Memorandum and Articles of Association, which permits the charity's funds to be invested in securities or property as may be thought fit, subject to conditions and consents as laid down in the organisation's governing documents.
## **Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
The trustees are however concerned that the current economic situation will have had a detrimental impact on the value of the charity's investment properties. It is intended that these properties will be revalued, and written down where appropriate, before the end of this financial year.
Page 3
North Liverpool Regeneration Company Ltd (Registered number: 03248264)
## Report of the Trustees
## for the Year Ended 31 December 2021
## **FUTURE PLANS**
Currently we have signed up with the ESS Assist who take you through the provision of being able to tender for low provision contracts with DWP. This registration will give us the scope to be able to offer further training and reach out to further young people who need access to training. Also as and when required the Trustees have spoken about selling assets which in turn they will then donate the funds to the 64 Trust, so they are able to continue the excellent work the trust has been doing over the last 2 years.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Potential risks, once identified, will be monitored and controlled to mitigate any impact that they may have on the organisation in the future.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
03248264 (England and Wales)
## **Registered Charity number**
1078426
## **Registered office**
64 Mount Pleasant Liverpool Merseyside L3 5SD
## **Trustees**
Mrs P Connolly (resigned 14.12.21) J Nelson (resigned 14.12.21) S McAllister Ms S A Shea (appointed 31.1.22)
## **Independent Examiner**
V & R Accountancy Services Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
Approved by order of the board of trustees on 29 September 2022 and signed on its behalf by:
Ms S A Shea - Trustee
Page 4
Independent Examiner's Report to the Trustees of North Liverpool Regeneration Company Ltd
## **Independent examiner's report to the trustees of North Liverpool Regeneration Company Ltd ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the 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 your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of FCCA which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts 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 accounts 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 accounts to be reached.
G J Rummens FCCA V & R Accountancy Services Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
29 September 2022
Page 5
North Liverpool Regeneration Company Ltd
## Statement of Financial Activities for the Year Ended 31 December 2021
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Access To Work
**Total**
**EXPENDITURE ON**
**Charitable activities**
Access To Work
Community activities
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|31.12.21
Unrestricted
fund
£
108,415
190,282
298,697
383,441
480,405
41,339
905,185
341,026
(265,462)
7,952,767
7,687,305|31.12.20
Total
funds
£
161,920
252,364
414,284
271,215
37,379
99,380
407,974
(1,612,638 )
(1,606,328 )
9,559,095
7,952,767|
|---|---|---|
The notes form part of these financial statements
Page 6
North Liverpool Regeneration Company Ltd (Registered number: 03248264)
## Balance Sheet
## 31 December 2021
|Notes
**FIXED ASSETS**
Tangible assets
6
**Investments**
Investments
7
Investment property
8
**CURRENT ASSETS**
Debtors
9
Investments
10
Prepayments and accrued income
Cash at bank
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**PROVISIONS FOR LIABILITIES**
12
**NET ASSETS**
**FUNDS**
13
Unrestricted funds
**TOTAL FUNDS**|31.12.21
Unrestricted
fund
£
284,526
1
3,233,107
3,517,634
441,770
3,660,660
-
410,110
4,512,540
(267,725)
4,244,815
7,762,449
(75,144)
7,687,305
7,687,305
7,687,305|31.12.20
Total
funds
£
291,368
1
3,233,107
3,524,476
301,019
3,994,634
178,075
492,574
4,966,302
(483,251)
4,483,051
8,007,527
(54,760)
7,952,767
7,952,767
7,952,767|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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.
The notes form part of these financial statements
continued...
Page 7
North Liverpool Regeneration Company Ltd (Registered number: 03248264)
## Balance Sheet - continued
## 31 December 2021
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 29 September 2022 and were signed on its behalf by:
S A Shea - Trustee
The notes form part of these financial statements
Page 8
North Liverpool Regeneration Company Ltd
Notes to the Financial Statements for the Year Ended 31 December 2021
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on reducing balance
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Related party exemption**
The charitable company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 9
North Liverpool Regeneration Company Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **2. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.12.21|31.12.20|
|---|---|---|
||£|£|
|Depreciation - owned assets|6,842|7,123|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
## **4. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|31.12.21
Staff
4
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Access To Work
**Total**
**EXPENDITURE ON**
**Charitable activities**
Access To Work
Community activities
Other
**Total**
Net gains/(losses) on investments
**NET INCOME/(EXPENDITURE)**|31.12.20
4
Unrestricted
fund
£
161,920
252,364
414,284
271,215
37,379
99,380
407,974
(1,612,638 )
(1,606,328 )|
|---|---|
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
continued...
Page 10
North Liverpool Regeneration Company Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**6.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 January 2021 and 31 December 2021
**DEPRECIATION**
At 1 January 2021
Charge for year
At 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020
**7.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 January 2021 and 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020|Freehold
property
£
300,000
12,000
6,000
18,000
282,000
288,000|Fixtures
and
fittings
£
18,944
17,884
265
18,149
795
1,060|Computer
equipment
£
108,969
106,661
577
107,238
1,731
2,308|Unrestricted
fund
£
9,559,095
7,952,767
Totals
£
427,913
136,545
6,842
143,387
284,526
291,368
Shares in
group
undertakings
£
1
1
1|
|---|---|---|---|---|
There were no fixed asset investments outside the UK.
continued...
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North Liverpool Regeneration Company Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
|**8.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 January 2021
and 31 December 2021
**NET BOOK VALUE**
At 31 December 2021
At 31 December 2020
**9.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Amounts owed by group undertakings
Other debtors
**10.**
**CURRENT ASSET INVESTMENTS**
Listed investments
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
**12.**
**PROVISIONS FOR LIABILITIES**
Provisions|31.12.21
£
80,037
361,733
441,770
31.12.21
£
3,660,660
31.12.21
£
250,951
3,580
-
13,194
267,725
31.12.21
£
75,144||£
3,233,107|£
3,233,107|
|---|---|---|---|---|
||||3,233,107||
||||3,233,107||
||||31.12.20
£
92,414
208,605
301,019
31.12.20
£
3,994,634|31.12.20
£
92,414
208,605|
|||||301,019|
|||||31.12.20
£
255,170
2,293
214,097
11,691|
|||||483,251|
|||||31.12.20
£
54,760|
continued...
Page 12
North Liverpool Regeneration Company Ltd
## Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **13. MOVEMENT IN FUNDS**
|At 1.1.21
£
**Unrestricted funds**
General fund
7,952,767
**TOTAL FUNDS**
7,952,767
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
298,697
(905,185)
**TOTAL FUNDS**
298,697
(905,185)
**Comparatives for movement in funds**
At 1.1.20
£
**Unrestricted funds**
General fund
9,559,095
**TOTAL FUNDS**
9,559,095
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
414,284
(407,974)
**TOTAL FUNDS**
414,284
(407,974)||
|---|---|
|||
continued...
Page 13
North Liverpool Regeneration Company Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
## **13. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.20
£
9,559,095
9,559,095|Net
movement
in funds
£
(1,871,790 )
(1,871,790 )|At
31.12.21
£
7,687,305|
|---|---|---|---|
||||7,687,305|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
712,981
(1,313,159 )
(1,271,612 )
(1,871,790 )
712,981
(1,313,159 )
(1,271,612 )
(1,871,790 )|
|---|---|
## **14. RELATED PARTY DISCLOSURES**
At 31st December 2021, North Liverpool Regeneration Company Limited was owed £167,212 by Vauxhall Neighbourhood Council Limited, a registered charity of which Ms P Connolly is Chief Executive. This amount is included within Other Debtors.
At 31st December 2021, North Liverpool Regeneration Company Limited was owed £27,408 by Liverpool Action To Create Jobs Limited, of which Mr J Nelson is a Director. This amount is included within Other Debtors.
No amounts were written off in relation to related parties during the year and no provisions were considered necessary.
Page 14