**REGISTERED COMPANY NUMBER: 03248264 (England and Wales) REGISTERED CHARITY NUMBER: 1078426**
## Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
for North Liverpool Regeneration Company Ltd
V & R Accountancy Services Limited 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 2023
|||Page||
|---|---|---|---|
|Report of the Trustees|1|to|5|
|Independent Examiner's Report||6||
|Statement of Financial Activities||7||
|Balance Sheet|8|to|9|
|Notes to the Financial Statements|10|to|14|
|Detailed Statement of Financial Activities|15|to|16|
North Liverpool Regeneration Company Ltd
## Report of the Trustees
for the Year Ended 31 December 2023
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 2023. 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.
Page 1
North Liverpool Regeneration Company Ltd
Report of the Trustees for the Year Ended 31 December 2023
## **OBJECTIVES AND ACTIVITIES**
## **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 other likeminded charity based in the south end of the city, working in particular with Marybone Youth and Community Organisation and the Vauxhall Neighbourhood Council.
We recognise the high level of poverty and deprivation experienced by families in the north end of the city and we have provided support and assistance to arrange day trips for members of the local community and have organised and hosted sporting activities.
2) The Charity wound up the delivery of the Inclusion and Progress Programme that provided employability training to adults aged from 16 to 59, who for Not in Education, Employment or Training, or were unemployed. The partnership with the VNC, Merseyside Career and Development Training delivered the targets for the project that included:
- 318 local residents participated in the project that were NEET or unemployed
- 267 completed the Inclusion and Progression programme - 254 left the project with either a qualification, offer of further training or employment or went into self-employment
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. The properties that the charity is renting provides an annual income that is being used to support the activities of the Charity. The income is being used to support local community organisations and residents in financial crisis.
## 4) 64 Mount Pleasant
The charity has decided to commission a local artist to paint pictures of the Beatles and recreate a similar feeling in the room from when it used to be a registry office. The decision has been taken because of the interest of visitors to see the room where John Lennon married Cynthia Lennon.
## 5) Ukraine Association
The charity has made a unit available for the Ukraine Association in the Laurel Road business centre that we own at no cost. This is a community facility for families who had left Ukraine as a result of the war. The Association provides regular updates of the support that it is providing to Ukrainian families.
## 6) The Ponnie
The Charity has made the Ponnie at 56 Christian Street available for community meals for older people at no charge. The Trustees agreed with the 64 Trust to provide the financial support, so that there is no cost to local residents for the use of the building. The Charity maintains the building and conducts repairs as required.
Page 2
North Liverpool Regeneration Company Ltd
Report of the Trustees for the Year Ended 31 December 2023
## **ACHIEVEMENT AND PERFORMANCE**
## **Review of activities**
On review of the activities over the last year, we thought that the challenges we faced we believe that this year has been a hard year also. Due to the cost-of-living crisis and the increase of Fuel cost. We have found that more families and individuals are reaching out for support.
## **64 Mount Pleasant Project**
Within the last report, we stated that the cost of the refurbishment would be in the region of £650,000.00. During the year we have progressed well with plans, preparing for the refurbishment to take place. Tender have been submitted to three local contractors and they were all over budget, this was due to the factor of increased material costs because of Brexit. A decision has been made to put the project on hold for the interim, as the Architects and contractors believe that prices will decrease, which will have a positive impact on the overall delivery of the project. At present we are currently working on the ground level of the building. We have been working hard on finding a local artist who would paint some pictures of the Beatles and recreate a similar feeling in the room to when it used to be a registry office. Each day we have a number of visitors at the building who are taking part in the Fab 4 taxi tours, who come in the see the room and where John Lennon married Cynthia Lennon. The vision is to create a small visitors area.
## **Warm Hub**
We have also created a Warm Hub at 56 Christian Street - the building was empty as it was previously refurbished into office accommodation. After the lock down period, the community asked if it could be opened as a meeting place, as they have nowhere to meet up locally as everything around the area had been closed. Some work was required to make the building fit for purpose to create an open space - the Warm Hub, where the community meet 3 times a week. They have a warm meal, play bingo and have a cha, as well as chair exercise and afternoon teas with entertainment. We have also arranged days for the older members of the community, along with Yoga/Wellness sessions from one of the rooms. Local Housing Association Torus have run training sessions from the venue in order to engage with the local community. The Younger members of the community have also attended Movie nights and also showed off their dance moves to the older members of the community when they have been at the hub. It has encouraged integration within the community.
## **Ukraine Association**
In December 2022 we were asked if we had any empty space as the Ukarine Association were looking for premises in order to develop a community facility for families who had left Ukraine due to the recent troubles they have experienced. It was agreed by the Trustees that they would be able to use an empty space at Laurel Road for 12 months. They have transformed the building and created a Community Facility to host the families. The Association are more than grateful to the Trust for providing this opportunity to them.
## **Training**
The ILM Project has now been completed and at present, unfortunately, nothing has replaced this type of provision. Employers often approach NLRCo and ask if the project has been replaced, or will there be any future funding in its place due to the success of the project. We are actively researching to explore other funding opportunities, but at present any projects which are available all seem to fall under Colleges, which is a shame as there is a gap of provision for young people who NLRCo reach out to and work with.
## **Inclusion and Progression**
As reported in previous report, the project was in the second phase of delivery, we were actively working on an extension for the project as it was due to end in 2022. Unfortunately, the extension was not granted to allow us to continue with the delivery of the programme. Like the ILM project we are seeking funding to see if there are any other opportunities.
We are currently submitting small community applications in order to source funds to run small community activities, we have submitted an application to PJ Holt, which will focus on working with the community to engage and look at supporting them with Literacy and Numeracy training. We have spoken about a Community Art project after speaking to the Artist who is going to do the work on the Community meeting room at Mount Pleasant. We regularly meet with the local community volunteers to see what support is needed in the community. We have also developed links with the Local Housing Association and work closely with them, but this is not coming without its challenges.
Page 3
North Liverpool Regeneration Company Ltd
for the Year Ended 31 December 2023
## Report of the Trustees
## **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.
## **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 the proceeds from which will then be donated 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 (appointed 16.5.24) J Nelson (appointed 16.5.24) S McAllister (resigned 15.5.24) Ms S A Shea (resigned 15.5.24) SL Ledwich (resigned 15.3.24)
Page 4
North Liverpool Regeneration Company Ltd
for the Year Ended 31 December 2023
## Report of the Trustees
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Independent Examiner**
V & R Accountancy Services Limited Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
Approved by order of the board of trustees on 27 September 2024 and signed on its behalf by:
Mrs P Connolly - Trustee
Page 5
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 2023.
## **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**
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 Limited Chartered Certified Accountants Cropton House Three Tuns Lane Formby Merseyside L37 4AQ
27 September 2024
Page 6
North Liverpool Regeneration Company Ltd
## Statement of Financial Activities for the Year Ended 31 December 2023
|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**|31.12.23
Unrestricted
fund
£
23,065
-
23,065
-
828,998
-
828,998
206,442
(599,491)
6,852,147
6,252,656|31.12.22
Total
funds
£
88,949
71,716
160,665
209,802
372,048
23,000
604,850
(390,973)
(835,158)
7,687,305
6,852,147|
|---|---|---|
The notes form part of these financial statements
Page 7
North Liverpool Regeneration Company Ltd
## Balance Sheet
## 31 December 2023
|Notes
**FIXED ASSETS**
Tangible assets
6
**Investments**
Investments
7
Investment property
8
**CURRENT ASSETS**
Debtors
9
Investments
10
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**
Unrestricted funds
**TOTAL FUNDS**|31.12.23
Unrestricted
fund
£
271,421
1
4,540,091
4,811,513
386,722
1,406,129
41,693
1,834,544
(272,241)
1,562,303
6,373,816
(121,160)
6,252,656
6,252,656
6,252,656|31.12.22
Total
funds
£
277,894
1
3,233,107
3,511,002
427,345
3,269,687
4,027
3,701,059
(271,374)
3,429,685
6,940,687
(88,540)
6,852,147
6,852,147
6,852,147|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 8
North Liverpool Regeneration Company Ltd
## Balance Sheet - continued
## 31 December 2023
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 27 September 2024 and were signed on its behalf by:
P Connolly - Trustee
The notes form part of these financial statements
Page 9
North Liverpool Regeneration Company Ltd
Notes to the Financial Statements for the Year Ended 31 December 2023
## **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.
## **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 10
North Liverpool Regeneration Company Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **2. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.12.23|31.12.22|
|---|---|---|
||£|£|
|Depreciation - owned assets|6,473|6,632|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **4. STAFF COSTS**
The average monthly number of employees during the year was as follows:
|31.12.23
Staff
3
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)**|31.12.22
4
Unrestricted
fund
£
88,949
71,716
160,665
209,802
372,048
23,000
604,850
(390,973)
(835,158)|
|---|---|
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
continued...
Page 11
North Liverpool Regeneration Company Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **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 2023 and 31 December 2023
**DEPRECIATION**
At 1 January 2023
Charge for year
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
**7.**
**FIXED ASSET INVESTMENTS**
**MARKET VALUE**
At 1 January 2023 and 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022|Freehold
property
£
300,000
24,000
6,000
30,000
270,000
276,000|Fixtures
and
fittings
£
18,944
18,348
149
18,497
447
596|Computer
equipment
£
108,969
107,671
324
107,995
974
1,298|Unrestricted
fund
£
7,687,305
6,852,147
Totals
£
427,913
150,019
6,473
156,492
271,421
277,894
Shares in
group
undertakings
£
1
1
1|
|---|---|---|---|---|
There were no fixed asset investments outside the UK.
continued...
Page 12
North Liverpool Regeneration Company Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
|**8.**
**INVESTMENT PROPERTY**
**FAIR VALUE**
At 1 January 2023
Additions
At 31 December 2023
**NET BOOK VALUE**
At 31 December 2023
At 31 December 2022
**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|31.12.23
£
4,982
381,740
386,722
31.12.23
£
1,406,129
31.12.23
£
251,201
5,016
-
16,024
272,241
31.12.23
£
121,160||£
3,233,107
1,306,984|£
3,233,107
1,306,984|
|---|---|---|---|---|
||||4,540,091||
||||4,540,091||
||||3,233,107||
||||31.12.22
£
44,892
382,453
427,345
31.12.22
£
3,269,687|31.12.22
£
44,892
382,453|
|||||427,345|
|||||31.12.22
£
251,451
3,702
1,500
14,721|
|||||271,374|
|||||31.12.22
£
88,540|
continued...
Page 13
North Liverpool Regeneration Company Ltd
Notes to the Financial Statements - continued for the Year Ended 31 December 2023
## **13. RELATED PARTY DISCLOSURES**
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.
During the year, North Liverpool Regeneration Company Limited made donations to The 64 Trust, a charity of which P Conolly is a trustee.
Page 14
North Liverpool Regeneration Company Ltd
## Detailed Statement of Financial Activities for the Year Ended 31 December 2023
||31.12.23|31.12.22|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|650|60,450|
|Grants|22,415|28,499|
||23,065|88,949|
|**Charitable activities**|||
|ILM|-|2,154|
|DWP|-|69,562|
||-|71,716|
|**Total incoming resources**|23,065|160,665|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Project costs|-|54,131|
|Community Activities|10,509|2,357|
||10,509|56,488|
|**Support costs**|||
|**Management**|||
|Wages|141,085|133,447|
|Social security|6,172|7,876|
|Pensions|1,686|1,987|
|Telephone|1,102|638|
|Postage and stationery|-|191|
|Sundries|355|888|
|Travelling|617|775|
|Repairs and renewals|1,513|9,429|
|Donations|648,935|329,167|
|Depreciation of tangible and heritage assets|6,474|6,632|
||807,939|491,030|
|**Finance**|||
|Bank charges|100|-|
|**Governance costs**|||
|Accountancy fees|8,565|8,700|
|Legal fees|-|14,300|
|Professional fees|1,885|34,332|
||10,450|57,332|
|Total resources expended|828,998|604,850|
|**Net expenditure before gains and losses**|(805,933)|(444,185)|
This page does not form part of the statutory financial statements
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North Liverpool Regeneration Company Ltd
|Detailed Statement of Financial Activities|||
|---|---|---|
|for the Year Ended 31 December 2023|||
||31.12.23|31.12.22|
||£|£|
|**Realised recognised gains and losses**|||
|Fair value adjustments to listed investments|206,442|(390,973)|
|**Net expenditure**|(599,491)|(835,158)|
This page does not form part of the statutory financial statements
Page 16