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2021-03-31-accounts

NO LIMITS (SOUTH) LIMITS TRUSTEES, REPOR & FINANCIAL STATEMENTS Helping Young People Help Themselves FOR THE YEAR ENDED 31ST MARCH 2021 CHARITY NO. 1088835 COMPANY NO 4183173

No Limits (South)

Financial Statements

Contents
Trustees’ Annual Report
Independent Auditors’ Report
Statement of Financial Activities
Balance Sheet
Statement of Cash flow
Notes to the financial statements		 Page
1-10
11-14
15
16
17
18-36

No Limits (South)

Trustees’ Report for the Year Ended 31 March 2021

Charity Reference and Administrative Details

Charity No 1088835
Company No 4183173
Trustees Stephen Taylor Chair
Gavin Bergin Vice Chair
Anjelica Finnegan Treasurer
Martin Roscoe (resigned 10 November 2020)
Simon Derrick (resigned 10 November 2020)
Carol Evans
Sarah Anderson
Andrew Simpson (appointed 16 March 2021)
Charlotte Bemand
Jenny Boland (appointed 16 March 2021)
Ana Brankovic (resigned 24 August 2020, reappointed 16 March 2021)
Chief Executive Officer Natalie Webb
Registered Office 35 The Avenue (Copies of financial
Southampton statements can be
SO17 1XN obtained from this address)
Auditors Fiander Tovell Limited
Stag Gates House
63/64 The Avenue
Southampton
SO17 1XS
Bankers Bank of Scotland
33 Old Broad Street
London
BX2 1LB

The company is limited by guarantee and has no share capital. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. Under those Articles, all Trustees are elected at the AGM and retire by rotation every three years thereafter.

1

Trustees’ Annual Report for the year ended 31 March 2021

The Trustees present their annual report and the audited financial statements of the Charity for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s memorandum and articles (its governing document), the Charities Act 2011, 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) (issued on 16 July 2014 and amended on 2 February 2016).”

The annual report includes the directors’ report as required by company law.

About No Limits

No Limits is an award-winning, local, independent charity providing a unique combination of prevention, early intervention and crisis support to young people, based on a nationally evidenced model. We provide information, advice, counselling and support through a range of services available ‘under one roof’. Set up in 1993 we have grown to support thousands of young people in Southampton and across Hampshire through our Advice Centre and the specialist projects we deliver as well as drop in sessions in schools/colleges.

We meet the needs of the most deprived, vulnerable and isolated young people who often don’t access mainstream services. By supporting across a wide range of issues including sexual health, relationships, mental health, housing, debt and employment we support young people through the transition from adolescence to adulthood, often helping them climb out of, or avoid, social exclusion. Almost 5,000 children and young people accessed our services last year.

We provide advice and support through our drop-in Advice Centre in Southampton High Street, a friendly, accessible space open for over 40 hours per week, including evenings and weekends. Young people can drop in for a chat and cup of tea without appointment. This flexibility, combined with the non-judgemental, young personcentred approach of the youth workers, mean that many of the barriers to seeking help often faced by vulnerable young people are removed. The youth workers are trusted by young people – often the only professionals that are seen to be ‘on their side’. From the drop-in, young people can be referred on to our specialist services including housing and homelessness; substance misuse; vulnerable groups (young carers, care leavers, young offenders, child sexual exploitation); young parents; counselling; therapeutic groups (anger management, anxiety, bereavement).

Objectives

No Limits charitable objective is to help relieve and prevent suffering caused by mental or physical ill-health or by social or economic circumstances amongst young people; by establishing, maintaining, and developing an information, advice and counselling service for the individual and/or group.

The No Limits Business Plan outlines its vision, mission and values, and identifies priorities and strategic aims for the delivery of its operations.

The Youth Information Advice Counselling and Support service model (YIACs) on which No Limits is based is a nationally proven early intervention model, with a substantial and long-standing evidence base for its effectiveness. Many government and independent reports over the past 30 years have highlighted the effectiveness of holistic 'under one roof' models of service for young people. Young people are offered support on a range of issues in a young person-centred environment. As a YIAC, No Limits 'meets young people where they are’ and brings together youth information, advice on social welfare, emotional health and wellbeing, and counselling services with a range of positive activities and the support of statutory partners.

No Limits achieves its objectives by delivering a range of services including:

2

Quality and Monitoring

No Limits meets a variety of quality standards demonstrating competence across a range of service delivery, including:

We believe a well-trained workforce leads to safer services for clients, leading to fewer incidents and improved reporting. Health and Safety training is given to employees and their competence to safely perform work tasks assessed by Managers and the CEO.

Our governance structures monitor, review and evaluate activity to ensure that No Limits fulfils its responsibilities as an employer and deliverer of services to children, young people and their families. We have a policy of transparency concerning meetings relating to investigations and incidents with minutes available and reported back to Trustees. This ensures the safety of the workforce and service user, quality of service and robustness of the Charity’s services.

Systems are in place to monitor and quality assure the implementation and compliance of safeguarding standards.

No Limits monitors performance using recording systems and databases. Reports are provided on an individual project and funder basis and a wider organisational Impact Report is published annually. Performance of service delivery is monitored through contracts and management systems which identify risk of underperformance.

3

Working in Partnership

No Limits has been working in the local children and youth services sector for 28 years and is a highly respected and trusted voice for children and young people. We have a long track record of identifying unmet needs and working on creative solutions with partner agencies and have built and sustained relationships with both voluntary and statutory organisations, to secure the best outcomes for young people. We have strong multi-agency links including with the Youth Offending Service, Probation service, Local Authority services such as Early Help, Housing, Social Care and Public Health; Rape Crisis, Schools, Colleges, Universities, health services such as Clinical Commissioning Groups, Child and Adolescent Mental Health Services, sexual health, substance misuse, Emergency Department and GPs; Missing, Exploited and Trafficked team. We work in partnership with local voluntary sector organisations including Citizens Advice, Youth Options, Yellow Door and YMCA. We are the lead agency in a Hampshire-wide consortium of 11 voluntary sector youth organisations offering counselling to children and young people across the county. Staff contribute to a number of local, regional and national strategic and practitioner groups and forums, representing children and young people's needs, including Southampton Healthwatch, the Hampshire Starting Well strategic group, Southampton City Council Children and Young People's Early Intervention and Prevention group, the MET group, local safeguarding subgroups, Blagrave Trust forum and Youth Access.

We host a separate charity, Breakout Youth, providing back office support and office space. Breakout Youth and No Limits have worked together for many years. Breakout Youth provides one to one and group support to children and young people who identify as LGBTQ+.

No Limits Trading Ltd is a 100% owned subsidiary utilising the Charity’s expertise to offer a broad range of counselling, group work and training for individuals, schools, companies and charities. Any taxable profits generated will be gifted to No Limits enabling us to support more children and young people.

Our Structure, Governance and Management

No Limits’ charitable purposes[1] include the following as described in The Charities Act 2011:

the prevention or relief of poverty; the advancement of education; the advancement of health; the advancement of citizenship or community development; the advancement of human rights, conflict resolution or reconciliation or racial harmony or equality and diversity; the relief of those in need, by reason of youth, age, ill-health, disability, financial hardship or other disadvantage.

The Charity Trustees' responsibility is to ensure that they carry out their Charity's aims for the public benefit and report on their Charity's public benefit in their Trustees' Annual Report.

Delivery of the charitable purposes is the responsibility of the Trustee board who govern No Limits. The Trustee board meets formally six times per year to review performance, ensure effective governance and provide strategic direction for the future. Where appropriate sub-committees, complete with terms of reference, explore issues in greater depth and report back to the Trustee board.

No Limits is committed to having a diverse and active Trustee board. The Trustee Recruitment, Selection and Induction process that No Limits follows is in line with the Charity Commission document RS1.

Day to day management of the Charity is delegated to the Charity's Chief Executive and the Senior Leadership Team who meet regularly to ensure the charity is operationally achieving its charitable objectives.

No Limits’ Chief Executive is Natalie Webb who joined the team in 2020. Natalie has overall responsibility for management of the organisation, leadership, strategic partnerships and developing the service.

1 'Charitable purposes' are those that fall within the descriptions of charitable purposes set out in The Charities Act 2011, and that are for the public benefit

4

Staff and volunteers are well trained, and performance is monitored through a supervision and appraisal system. Sickness is monitored and managed, and staff satisfaction is measured in a regular Temperature Reading Survey.

Our volunteers work across all our services and are an essential, much-respected part of our workforce, working alongside our paid staff as equal partners and trained to the same level. All people interested in exploring volunteering opportunities are invited to attend our induction training and are then carefully matched with projects and provided with specialist training. Once in their volunteer post they receive regular supervision from their team leaders and can access clinical supervision if needed.

Young people are encouraged to contribute to service developments through a range of participation methods including our bi-annual consultation, comments boxes and participation in our Youth Ambassadors programme.

The results of our bi-annual ‘Have Your Say’ consultations also inform development and priorities for the organisation, recognising when we could deliver better for young people. Our experience has shown that young people being involved in this way benefits the organisation and the young person.

Covid19

During the 2020/21 financial year, Covid19 presented an unpredicted and unprecedented challenge for all people and organisations including No Limits, its staff, volunteers and service users. Prior to Covid19 many children and young people struggled. The demand for mental health and support services was high and exceeded support available, the impacts of deprivation and poverty were significant, and many children and young people were vulnerable. Now, for many, the struggle is greater with a lack of access to support, hard felt social isolation, deteriorating mental health, and increased financial and social pressure.

No Limits continues to work hard across all its services to ensure that children and young people, and their supporters, have access to the help and support they need. During the year we introduced remote access and digital services. No Limits has a ‘roadmap’ for re-establishing face to face delivery and returning to a ‘new normal’, Covid19 secure, working environment.

Our Business Plan

In 2020/21 we had a one-year business plan to guide the organisation through a year of significant challenge with Covid19. The Trustee Board and staff team have worked collaboratively on a longer term (three-year) business plan, which will be published in 2021.

Our vision is: to help children and young people in Southampton and the surrounding areas to help themselves to understand their rights and responsibilities, achieve their potential, value themselves and be valued by society. Our mission is: to empower children and young people to reach their full potential through information, advice, counselling and support.

At No Limits all our services are underpinned by core values, we are:

5

No Limits has four strategic goals supported by short term and long term actions.

Our Impact

No Limits has a significant impact on the children and young people it supports. In 2020/21:

The feedback about No Limits from the people it helps evidences the difference it makes. In survey results:

Risk Review

Trustees are responsible for the effective management of risk and for making sure that internal controls are in place and operating as designed. The Trustee Board review and agree the risk management strategy and policies. The Trustees have reviewed the major risks to which the Charity is exposed, and systems have been established to mitigate those risks. Risks are recorded on a Risk Register which the CEO monitors and updates on a regular basis.

Financial Results

The annual accounts show a surplus of £555,555 which reflects additional income received from funders for current and future projects alongside prudent expenditure management which resulted in annual costs being close

6

to budget. In years prior to Covid19 pandemic a target surplus of 3% of turnover has been agreed by the Trustees to contribute to reserves to protect the Charity in the event of future changes. This accumulated surplus provides No Limits with some financial security for the future and will contribute to unknown changes which may be required coming out of Covid19.

During the year there has been an 18.3% growth in income. Income from Charitable Activities grew by 19% mainly driven by new contracts won. Grant income also grew by 22.1%. A significant amount of this growth was Covid19 related grant funding. Due to the pandemic donations fell by 44.2%. No Limits continues to work towards achieving longer term funding to provide stability for the Charity.

Several contracts are due to end before the end of 2021/22 however discussions are progressing to extend them. All of these contracts have TUPE rights attached to them and if No Limits are not successful in retaining these contracts a number of staff will be transferred to the new provider reducing our expenditure as income falls.

Principal sources of income in the year were:

Hampshire CCG £595,935
Southampton City Council – DASH £482,497
Solent NHS Trust £304,390
Barnardo’s £190,599
Hampshire County Council – Frankie project £186,004
Big Lottery Fund – Help Through Crisis £166,939
Citizens Advice Bureau (Advice, Information & Guidance) £137,156
Big Lottery Fund – Reaching Communities – Preventing £128,231
Homelessness
Southampton CCG £125,000
Hampshire Constabulary £115,088
Southampton City Council – Comprehensive Counselling £104,151

Other sources of income are disclosed in Note 4 of the financial statements.

The Charity continues to make a use of volunteers in the course of its charitable activities. Volunteers make a crucial contribution to the Charity including the provision of information, advice and counselling services at the Charity's Advice Centre. The contribution from volunteers has not been included in the accounts. This is considered to be in accordance with guidance in the SORP.

Governance costs fell slightly to 0.8% of total expenditure compared to 1.0% in the previous year.

Fundraising Activities

The Finance and Executive Subgroup of the No Limits Trustee Board oversees fundraising and meets bimonthly, receiving a report from the fundraising team and Head of Finance.

The Fundraising Manager and CEO oversee day to day fundraising activities including writing bids and tenders, working with corporate partners and engaging in promotion of the Charity, community fundraising and events.

Trustees set a challenging fundraising target for 2020/21 that was achieved. A challenging target has also been set for 2021/22 but considerations have to be given to the Covid19 situation currently being faced. A significant amount of recent funding opportunities are short term and the fundraising team are now working to convert these into longer term projects.

Unrestricted funding, gained through individual donations, events and community fundraising, was considerably lower than the target set in 2020/21 due to Covid. The charity has reassessed its target for 2021/22 in light of this and is currently focusing on building its individual supporter base, particularly regular givers.

7

Future Financial Strategy

Future strategies will continue to focus on a balance of maintaining reserves at a level recommended by the Charity Commission whilst retaining the flexibility to manage potential variations in operational demands which are outside the control of the Charity. The primary annual target is to deliver a break-even budget, with a secondary target for a surplus of 3% of total income each year (approximately £100,000) where conditions allow for this. New funding sources will continue to be sought and secured which will contribute to the generic drop-in advice and support services for which No Limits (South) has built up a substantial reputation and expertise but is not fully funded.

The Trustee strategy for future funding is to broaden the funding base of the Charity into new areas of income such as individual giving and the private business sector. The broadening of the funding base also includes a strategy to work in new areas outside of Southampton. No Limits (South) is seeking to expand the geographical area that it works in and strengthen the new areas of Hampshire that we have already started to work in. This is being done in a sensitive way often working with other charities in the area and filling in gaps rather than in direct competition with a current provider. No Limits partnership work continues to increase with No Limits holding several contracts that have other charities as sub-contractors. Bids continue to be submitted with a partnership framework.

Reserves Policy

Total reserves are £2,483,164 which includes £37,414 of restricted reserves. £1,112,075 is held as a unrestricted General Reserve and £250,000 is designated as a business development reserve to cover costs of continuing existing services in the event of temporary funding loss, as well as new initiatives. The remaining reserves of £1,083,675 represent the fixed assets of the Charity.

The Trustees have agreed that reserve requirements should be monitored with reference to:

The Trustees are of a view that the Charity is a going concern.

Investment Performance and Policy

The objectives of the No Limits investment policy are to invest surplus funds prudently in accordance with the responsibilities of trustees. Priority will be to ensure security and liquidity.

Surplus funds will be invested via investment advisers in four ways:

8

A diverse investment strategy will be promoted by firstly agreeing the cash sum to be held on deposit and then allocating 1/3 of the residual balance to each of stocks and shares, property and programme related investments.

The overall risk appetite of No Limits investments is low .

The priorities within this policy are liquidity and security rather than yield. Property assets will be longer term but realisable. Market investments will be ethical, and a mixture of short and medium term and any new programme related investments will be over the medium term with a view to improving services for younger people through new enterprises.

Statement of Trustees’ Responsibilities

The Trustees (who are also Directors of No Limits (South) for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far at the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

9

Auditor

The Auditor, Fiander Tovell Limited, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Small Companies Disclosure

This report has been prepared in accordance with the provisions applicable to companies’ subject to the small companies’ regime in Part 15 of the Companies Act 2006. The Trustees confirm that this Report and Financial Statements complies with current statutory requirements, the 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 period commencing from 1 January 2016), and with the Charity’s Memorandum and Articles of Association.

Approved by the Trustees and signed on their behalf by:

……………………………………… Stephen Taylor Trustee October 2021

10

Independent Auditors’ Report for the Year Ended 31 March 2021 to the Members of No Limits (South)

Opinion

We have audited the financial statements of No Limits (South) (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2021 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Consolidated Statement of Cashflows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland(United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts 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 to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

11

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees, who are also the directors of the charity for the purpose of company law, are responsible 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 Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement 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 to influence the economic decisions of users taken on the basis of these financial statements.

12

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Audit response to risks identified

To address the risk of fraud through management bias and override controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

13

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Andrew Jay ACA FCCA (Senior Statutory Auditor) for and on behalf of Fiander Tovell Limited

Chartered Accountants Statutory Auditor Stag Gates House 63/64 The Avenue Southampton Hampshire SO17 1XS

14

No Limits (South)

Consolidated Statement of Financial Activities (Incorporating the Income and Expenditure Account) for the Year Ended 31 March 2021

Note
Income from:
Donations and legacies
4a
Charitable activities
4b
Commercial trading operations
4c
Investments
4d
Total Income
Expenditure on:
Fundraising
6
Charitable activities
5
Commercial trading operations
Total Expenditure
Net gains on investments
Net (Loss)/Income
Transfers
Gross transfers between funds
15
Net Movement in Funds
Reconciliation of Funds:
Total Funds brought forward at 1 April 2020
Total Funds carried forward at 31 March 2021
16		 Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
2021
2021
2021
2020
£
£
£
£
249,883
772,998
1,022,881
869,956
2,839,014
-
2,839,014
2,365,342
39,249
-
39,249
58,074
10,987
-
10,987
14,318
3,139,133
772,998
3,912,131
3,307,690
129,268
-
129,268
126,547
2,445,665
778,369
3,224,034
2,882,462
3,274
-
3,274
12,833
2,578,207
778,369
3,356,576
3,021,842
-
-
-
-
560,926
(5,371)
555,555
285,848
(284)
284
-
-
560,642
(5,087)
555,555
285,848
1,885,108
42,501
1,927,609
1,641,761
2,445,750
37,414
2,483,164
1,927,609

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year and therefore no separate statement of the total recognised gains and losses is presented.

15

No Limits (South)

Consolidated Balance Sheet as at 31 March 2021

Note
Fixed Assets
Tangible fixed assets
9
Investments
9
Total Fixed Assets
Current Assets
Debtors
11
Cash at bank and in hand
Total Current
Assets
Creditors:Amounts falling due
within one year
12
Net Current Assets
Total Assets less Current
Liabilities
Total Net Assets
Funds of the Charity
Unrestricted Funds
15,16
Designated Funds
Functional fixed asset fund
15,16
Business development
reserve
15,16
Revaluation reserve
9,15,16
Restricted Funds
15,16
Total Funds		 Group
Charity
2021
2021
£
£
963,675
963,675
120,000
120,001
1,083,675
1,083,676
511,943
567,548
2,221,816
2,200,620
2,733,759
2,768,168
(1,334,270)
(1,323,152)
1,399,489
1,445,016
2,483,164
2,528,692
2,483,164
2,528,692
1,112,075
1,157,603
1,037,727
1,037,727
250,000
250,000
45,948
45,948
37,414
37,414
2,483,164
2,528,692		 Group
Charity
2020
2020
£
£
1,022,048
1,022,048
120,000
120,001
1,142,048
1,142,049
265,424
317,945
1,449,326
1,419,308
1,714,750
1,737,253
(929,189)
(914,577)
785,561
822,676
1,927,609
1,964,725
1,927,609
1,964,725
743,060
780,176
1,096,100
1,096,100
-
-
45,948
45,948
42,501
42,501
1,927,609
1,964,725

The financial statements were prepared in accordance with the provisions applicable to companies’ subject to the small companies’ regime within part 15 of the Companies Act 2006. The financial statements have been approved and authorised for issue by the Board on October 2021.

Signed on behalf of the board of trustees:

Trustee Stephen Taylor

The notes on pages 18 to 36 form part of these financial statements.

Company registration number: 4183173

16

No Limits (South)

Statement of Cash Flows and Consolidated Statement of Cash Flows for the Year Ended 31 March 2021

Note
Cash flow from operating activities
20
Net cash flow from operating activities
Cash flow from investing activities
Payments to acquire tangible fixed assets
Payments to acquire share capital in subsidiary
Interest receivable
Net cash flow from investing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1 April 2020
Cash and cash equivalents at 31 March 2021
Cash and cash equivalents consist of:
Cash at bank and in hand
Cash and cash equivalents at 31 March 2021		 Group
Charity
2021
2021
£
£
771,655
780,477
771,665
780,477
-
-
-
-
835
835
835
835
772,500
781,312
1,449,326
1,419,308
2,221,816
2,220,620
2,221,816
2,200,620
2,221,816
2,200,620		 Group
Charity
2020
2020
£
£
444,809
435,515
444,809
435,515
(2,342)
(2,342)
-
-
864
864
(1,478)
(1,478)
443,331
434,037
1,005,995
985,271
1,449,326
1,419,308
1,449,326
1,419,308
1,449,326
1,419,308

17

No Limits (South)

Notes (forming part of the financial statements) for the Year Ended 31 March 2021

1 Principal Accounting Policies

Basis of Preparation

No Limits (South) is a company limited by guarantee in the United Kingdom and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2015.

At the time of approving the accounts, the Trustees have considered that there are no material uncertainties about the Charity’s ability to continue. The Trustees have considered the impact of Covid-19 on the Charity’s operations but forecasts indicate that there is sufficient headroom that this does not create a material uncertainty. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity. The accounts are rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

No Limits Trading Ltd is a 100% owned subsidiary of No Limits.

Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of Trustees in furtherance of the general objectives of the charity and have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or which have been raised by the charity for specific purposes. Expenditure which meets either of these criteria is identified to the fund.

Designated funds are determined by the Trustees from time to time as being held for specific purposes, for example to hold a reserve in respect of future eventualities such as re-organisation or staff redundancies which may be necessary in the light of predicted funding changes.

Service Provision

Income in respect of contractual services provided to other agencies is accounted for in the period in which the service is provided and is also included under the heading ‘Income from Charitable Activities’.

18

Incoming Resources

All incoming resources are included in the Statement of Financial Activities (SOFA) on an accruals basis, except to the extent that grants receivable must be applied to future periods of expenditure or are contingent on future requirements being fulfilled, in which case recognition will be when that criteria has been met.

Income from grants receivable are classified as ‘Voluntary Income’ when they are general in nature in support of the charity’s objectives, as opposed to ‘Contract Income’ where funding is closely linked to agreed project outputs. ‘Contract Income’ is classified under ‘Income from Charitable Activities’ along with income from discrete activities for which a fee is charged, e.g. specific work carried out in schools.

Income is deferred if the funder has expressly stated that grants are to be applied to future accounting periods, or if there is some expectation from the funder that amounts in connection with the grant should be repaid in future periods.

Grants receivable in respect of fixed assets are included in the SOFA in the period in which they are received in accordance with the SORP.

‘In-Kind’ contributions or services donated to the charity are normally valued at cost (as determined by the donor) or a reasonable estimate of actual cost if such information is unavailable.

No amount is included in the financial statements for the volunteer time, in line with SORP (FRS 102). Further information is provided in the Trustee’s Report.

Income from rental of parking spaces at the charity’s main offices is recognised in the period to which it relates.

Investment income from property is recognised on receipt.

Expenditure

All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to transfer resources. All costs have been directly attributed to one of the functional categories of resources in the SOFA. Expenditure subject to VAT which is not recoverable is shown inclusive of VAT.

Apportionment of costs across headings of the SOFA is carried out in relation to claims for grant funding. A method based on the allocation of staff time is used for revenue expenditure on direct project activities, premises and management and administration. As far as possible, depreciation costs are apportioned either to project activities or premises costs using appropriate apportionment criteria.

Costs are allocated to the Governance category where they cannot be clearly allocated to project activities or are of a strategic nature, e.g. insurance and legal expenses.

Pension Scheme

No Limits operates a Group Personal Pension Scheme (defined contribution) provided by AEGON plc and administered by Andrew Routley Pensions Limited. The assets of this scheme are held separately from those of the Charity. Pension costs charged in the SOFA represent the contributions payable by the Charity in the year.

Fixed Assets and Depreciation

It is the policy of the Charity to capitalise assets costing over £500 and with an expected useful life in excess of three years. With the exception of freehold property, a full year’s depreciation is charged in the year of acquisition.

Depreciation is provided on the following bases following an assessment of the estimated useful economic life and anticipated residual value:

19

Furniture and Equipment Straight line basis over 4 years Computer Equipment Straight line basis over 3 years Freehold Property Straight line basis over 25 years with no depreciation charged in the year of acquisition Leasehold Property Improvements Over the remaining life of the lease

Investment Properties

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in ‘net gains/(losses) on investments’ in the SOFA.

Impairment

At each reporting period end date, the Trustees review the carrying amounts of the Charity’s tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. Indicators of impairment may include significant declines in an asset’s market value, evidence of physical damage, significant reorganisation of the Charity or changes in the statutory or political environment in which the Charity operates. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Leases

Rentals payable and receivable under operating leases are charged to the SOFA on a straight-line basis over the period of the lease.

Cash and cash equivalents

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Financial Instruments

The charity 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 charity's balance sheet when the charity 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.

Impairment of Financial Assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

20

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of Financial Assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of Financial Liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic Financial Liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 business 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 company’s contractual obligations expire or are discharged or cancelled.

2 Judgements and Key Sources of Estimation Uncertainty

The trustees consider that there are no material areas of judgement or estimation uncertainty.

21

3 Financial Performance of the Charity

The summary financial performance of the charity alone is:

Income
Expenditure on charitable activities
Net Income
Other recognised gains
Net movement in Funds for the year
Reconciliation of Funds:
Total Funds brought forward at 1 April 2020
Total Funds carried forward at 31 March 2021
Represented by:
Restricted income funds
Unrestricted income funds
4
Incoming Resources
4a
Donations and legacies
Grants
Donations & Similar Incoming Resources
Donated Services & Facilities		 2021
£
3,927,459
3,927,459
(3,363,492)
563,967
-
563,967
1,964,725
2,528,692
37,414
2,491,278
2,528,692
Unrestricted
Funds
Restricted
Funds
Total Funds
2021
2021
2021
£
£
£
222,301
772,248
994,549
27,582
750
28,332
-
-
-		 2021
£
3,927,459
3,927,459
(3,363,492)		 2020
£
3,316,302
3,316,302
(3,010,439)
305,863
-
305,863
1,658,862
1,964,725
42,501
1,922,224
1,964,725
Total Funds
2020
£
816,203
50,753
3,000
249,883
772,998
1,022,881		 869,956

Income from government grants comprises of grants made by local authorities to fund social related services as described in the Trustees’ report. See below for more information as to the amount and source of these grants.

22

(Note 4a continued)
Grants
Big Lottery Fund – Help Through
Crisis
Big Lottery Fund – Reaching
Communities (Homelessness)
The Blagrave Trust
Dept. of Health & Social Care –
Health & Wellbeing Fund
Youth Endowment Fund
Southampton City Council (Other)
Police & Crime Commissioner
Hampshire County Council –
Children’s Services
Job Retention Scheme
Southampton City Council – Violence
Reduction Unit
Youth Access – Equal Access in Mind
MIND – Coronavirus Mental Health
Response Fund
Children in Need – Stay Safe
Swire Foundation
Co-Op Foundation/Big Lottery Fund
#iwill
The Big Lottery Fund – Reaching
Communities (Peer Support)
Paul Hamlyn Foundation
Southampton CCG
Pilgrim’s Trust
Southampton City Council –
Employment Hub
Southampton Voluntary Services
National Emergency Trust
Communities Against Cancer
Big Lottery Fund – Reaching
Communities – Next Steps
Youth Access – Make Our Rights
Reality
Isle of Wight CCG
NHS Southampton CCG
Hampshire Constabulary – Serious
Violence Fund
Co-Op Co-Research
Santander
Southampton City Council – Short
Breaks
Percy Bilton Charity
For the year ended 31 March 2020		 Unrestricted
Funds
Restricted
Funds
Total Funds
Total
Funds
2021
2021
2021
2020
£
£
£
£
-
166,939
166,939
74,814
-
128,231
128,231
47,557
-
95,000
95,000
67,917
-
80,000
80,000
160,000
-
63,249
63,249
-
60,018
-
60,018
41,094
-
49,203
49,203
-
41,400
-
41,400
-
37,358
-
37,358
-
-
36,630
36,630
-
36,585
-
36,585
36,585
-
34,363
34,363
-
-
31,983
31,983
29,053
25,000
-
25,000
-
-
23,333
23,333
26,250
-
20,684
20,684
23,908
-
17,500
17,500
-
-
10,181
10,181
-
10,000
-
10,000
-
-
9,952
9,952
-
8,607
-
8,607
-
-
5,000
5,000
-
3,333
-
3,333
6,667
-
-
155,384
-
-
-
55,291
-
-
-
30,000
-
-
-
20,000
-
-
-
17,862
-
-
-
9,980
-
-
-
5,000
-
-
-
4,560
-
-
-
4,281
222,301
772,248
994,549
816,203
163,944
652,259
816,203

23

(Note 4a continued)
Donations and Similar Incoming Resources
Miscellaneous
Just Giving
King Edward VI School
Facebook Giving
Southern Health NHS
H Wilkinson
CGM Solicitors (legacy)
Southampton Ukele
Parkfield Dance Academy
Rotary Club
Mayfield Lawn Bowling Club
Emilienne Charitable Trust
Old Saints
The Gregg School
For the year ended 31 March 2020		 Unrestricted
Funds
Restricted
Funds
Total Funds
Total Funds
2021
2021
2021
2020
£
£
£
£
14,315
750
15,065
17,536
4,130
-
4,130
13,771
3,500
-
3,500
-
2,282
-
2,282
1,509
2,000
-
2,000
-
1,355
-
1,355
-
-
-
-
6,750
-
-
-
2,500
-
-
-
2,447
-
-
-
1,900
-
-
-
1,340
-
-
-
1,000
-
-
-
1,000
-
-
-
1,000
27,582
750
28,332
50,753
50,753
-
50,753

Donated Services and Facilities

In accordance with the SORP, ‘in-kind’ incoming and outgoing resources are brought into the financial statements in respect of training provided by GlaxoSmithKline as part of their GSK Impact Awards scheme.

Donated Services & Facilities
Training
For the year ended 31 March 2020		 Unrestricted
Funds
Restricted
Funds
Total Funds
Total Funds
2021
2021
2021
2020
£
£
£
£
-
-
-
3,000
-
-
-
3,000
3,000
-
3,000

The Charity has received support from volunteers in providing information, advice and counselling services at the Charity’s drop-in centres. This is invaluable support and the Trustees are not able to value this in monetary terms.

24

4b Charitable activities
Hampshire CCG Counselling
Southampton City Council - DASH
Solent NHS Trust
Barnardos
Hampshire County Council - Frankie
Citizens Advice Bureau (Advice,
Information & Guidance)
NHS Southampton CCG
Hampshire Constabulary
Southampton City Council (Comprehensive
Counselling)
Breakout Youth
MENCAP
Southampton City Council (Health &
Wellbeing Drop Ins)
North Hants & Farnham CCG – Safe
Haven
YMCA (Housing Related Support)
Isle of Wight CCG
Street Games
Change Grow Live
Southampton City Council – Peer Support
Hampshire County Council – Other
Yellow Door
Southampton City Council (Other)
Income from providing student placements
Carers in Southampton
Other
Lease of parking spaces
Hampshire County Council (Public Health)
For the year ended 31 March 2020		 Unrestricted
Funds
Restricted
Funds
Total
Funds
Total Funds
2021
2021
2021
2020
£
£
£
£
595,935
-
595,935
595,935
482,497
-
482,497
497,265
304,390
-
304,390
513,475
190,599
-
190,599
-
186,004
-
186,004
-
137,156
-
137,156
137,156
125,000
-
125,000
56,000
115,088
-
115,088
79,774
104,151
-
104,151
104,151
91,712
-
91,712
79,380
88,279
-
88,279
88,779
66,576
-
66,576
66,576
62,034
-
62,034
-
57,525
-
57,525
57,525
50,000
-
50,000
-
38,300
-
38,300
31,700
37,255
-
37,255
25,076
36,465
-
36,465
-
21,627
-
21,627
-
20,000
-
20,000
20,000
17,081
-
17,081
1,041
6,232
-
6,232
4,416
4,180
-
4,180
928
-
928
3,323
-
-
-
2,481
-
-
-
1,289
2,839,014
-
2,839,014
2,365,342
2,365,342
2,365,342

25

4c Income earned from other activities

The summary financial performance of the subsidiary alone is:

Turnover
Cost of sales and administrative costs
Net loss
The assets and liabilities of the subsidiary were:
Current assets
Current liabilities
Long term liabilities
Total net assets
Aggregate share capital and reserves
4d Investment Income
Unrestricted
Funds
2021
£
Rent receivable
10,152
Bank interest receivable
835
Income from managing agents
-
10,987
For the year ended 31 March 2020
14,318		 Turnover
Cost of sales and administrative costs
Net loss
The assets and liabilities of the subsidiary were:
Current assets
Current liabilities
Long term liabilities
Total net assets
Aggregate share capital and reserves
4d Investment Income
Unrestricted
Funds
2021
£
Rent receivable
10,152
Bank interest receivable
835
Income from managing agents
-
10,987
For the year ended 31 March 2020
14,318		 2021
£
49,439
(57,850)
(8,411)
25,071
(20,598)
(50,000)
(45,527)
(45,527)
Restricted
Funds
Total
Funds
2021
2021
£
£
-
10,152
-
835
-
-		 2020
£
59,504
(79,519)
(20,015)

30,506
(27,621)
(40,000)
(37,115)
(37,115)
Total Funds
2020
£
12,648
864
806
10,987 -
10,987		 14,318
14,318 - 14,318

5 Analysis of expenditure on charitable activities

Charitable Activities*
Activities undertaken directly
Support costs
For the year ended 31 March 2020		 Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
2021
2021
2021
2020
£
£
£
£
2,087,522
714,254
2,801,776
2,519,735
358,143
64,115
422,258
362,727
2,445,665
778,369
3,224,034
2,882,462
2,222,536
659,926
2,882,462
,

*The Trustees consider that there is one charitable activity, within which there are a number of projects, as discussed in the Trustees’ report.

26

6 Allocation of Support Costs

Support costs
Governance (note 7)
Finance
Information technology
Human resources
Depreciation
Office costs
Fundraising
Other		 Fundraising
Charitable
Activities
Total
Total
2021
2021
2021
2020
£
£
£
£
-
28,622
28,622
29,291
-
94,335
94,335
92,317
-
133,023
133,023
75,537
-
13,242
13,242
16,944
-
58,183
58,183
62,670
-
94,853
94,853
85,698
124,368
-
124,368
121,627
4,900
-
4,900
4,920
129,268
422,258
551,526
489,274

7 Governance Costs

Governance costs
Auditor’s remuneration
Legal and professional fees
Insurance
Other
8
Operating Charges
Net income for the year is stated after charging:
Auditor’s remuneration:
-
Audit fees
-
Taxation
Depreciation of tangible fixed assets
Operating lease rentals – land & buildings
Operating lease rentals - other		 2021
2020
£
£
6,090
5,430
5,295
4,270
15,497
15,893
1,740
3,698
28,622
29,291
2021
2020
£
£
6,090
5,430
600
600
58,183
62,670
32,250
30,000
17,715
15,562

27

9 Fixed Assets

Tangible Fixed Assets – Charity (also
Cost or Valuation
At 1 April 2020
Written off
Disposals
At 31 March 2021
Depreciation and
diminution in value
At 1 April 2020
Charge for the year
Written off
Disposals
At 31 March 2021
Net Book Value
At 31 March 2021
At 31 March 2020
Investments
Cost or Valuation
At 1 April 2020
Revaluation
At 31 March 2021
Depreciation and diminution in value
At 1 April 2020
Impairment
At 31 March 2021
At 31 March 2021
At 31 March 2020		 comprising that of the group)
Freehold
Property
Leasehold
Improvements
Furniture &
Equipment
Computer
Equipment
Total
£
£
£
£
£
1,074,500
67,557
28,208
43,259 1,213,524
-
-
-
(4,373)
(4,373)
-
-
-
(570)
(570)		 comprising that of the group)
Freehold
Property
Leasehold
Improvements
Furniture &
Equipment
Computer
Equipment
Total
£
£
£
£
£
1,074,500
67,557
28,208
43,259 1,213,524
-
-
-
(4,373)
(4,373)
-
-
-
(570)
(570)
1,074,500
67,557
28,208
38,316 1,208,581
99,010
33,010
21,504
37,952
191,476
42,980
7,100
3,767
4,336
58,183
-
-
-
(4,373)
(4,373)
-
-
-
(380)
(380)
141,990
40,110
25,271
37,535
244,906
932,510
27,447
2,937
781
963,675
975,490
34,547
6,704
5,307 1,022,048
Investment
Properties
Total
£
£
120,000
120,000
-
-
120,000
120,000
-
-
-
-
-
-
120,000
120,000
120,000
120,000

Investment properties include freehold property of £120,000 stated at fair value.

The Charity holds 1 share of £1 in its wholly owned trading subsidiary company, No Limits Trading Ltd which is incorporated in the United Kingdom. These are the only shares allotted, called up and fully paid. The activities and results of this company are summarised in note 4c.

28

10 Revaluation of Investment Property

The Charity’s freehold investment property located in Shirley, was revalued at 22 March 2018 by Mr Robert Primmer BSc FRICS of Primmer Olds UK Limited, Chartered Surveyors. The valuation was prepared in accordance with the RICS Valuation – Global Standards as published by the Royal Institution of Chartered Surveyors, July 2017. The property was valued on an open market basis at £120,000. At the date of the revaluation, the freehold investment property carried a historical cost of £100,000.

11
Debtors
Pre-payments and accrued income
Other debtors
Amount due from subsidiary undertaking
12
Creditors: Amounts falling due within one year		 Group
Charity
2021
2021
£
£
50,897
50,897
461,046
466,651
-
50,000
511,943
567,548		 Group
Charity
2020
2020
£
£
47,408
47,408
218,016
230,537
-
40,000
265,424
317,945
Payroll liabilities
Deferred income (see note 13)
Accruals
Other creditors		 Group
Charity
2021
2021
£
£
632,005
632,005
405,252
394,748
125,037
121,800
171,976
174,599
1,334,270
1,323,152		 Group
Charity
2020
2020
£
£
539,320
539,320
173,864
164,308
118,489
113,445
97,516
97,504
929,189
914,577

Payroll liabilities relate to amounts owed to Southampton City Council in respect of staff salaries.

13 Deferred Incoming Resources

Balance at 1 April
Incoming resources deferred during the year
Amounts released from previous years
Balance at 31 March		 Group
Charity
2021
2021
£
£
173,864
164,308
402,433
391,929
(171,045)
(161,489)
405,252
394,748		 Group
Charity
2020
2020
£
£
201,589
187,998
165,564
156,008
(193,289)
(179,698)
173,864
164,308

Incoming resources deferred during the year relate to grants and income from charitable activities from the Big Lottery Fund, MIND, Co-Op, Paul Hamlyn Foundation, Hampshire Constabulary, The Blagrave Trust, Hampshire County Council, Southampton CCG, Nationwide Building Society, Garfield Weston, Southampton City Council and Solent NHS which apply to a future period. It also includes income from NVQ’s that have not yet been completed.

29

14 Financial Instruments

2021 2020
£ £
Carrying amount of financial assets
Debt instruments measured at amortised cost 2,682,862 1,667,342
Carrying amount of financial liabilities
Measured at amortised cost 929,018 755,325
Funds
Balance Income/ Expenditure/ Transfers Balance at
at 1 April Gains Losses 31 March
2020 2021
Restricted Funds
i Big Lottery Fund – Help 15,604 166,939 175,901 - 6,642
Through Crisis
ii Big Lottery Fund – Reaching 5,239 20,684 19,800 - 6,123
Communities (Peer Support)
iii Big Lottery Fund – Preventing 2,923 128,231 124,780 - 6,374
Homelessness
iv Blagrave Trust - 30,000 30,000 - -
v Blagrave Trust – Youth 4,910 65,000 66,661 - 3,249
Ambassadors
vi Children in Need – Stay Safe 742 31,983 32,080 - 645
vii Co-op Foundation/Big Lottery 12,776 23,333 31,953 - 4,156
Fund #iwill
viii Lester Aldridge - 750 - - 750
ix MIND – Coronavirus Mental - 34,363 34,014 - 349
Health Response Fund
x National Emergency Trust - 5,000 5,100 100 -
Fund
xi Dept of Health & Social Care – - 80,000 80,112 112 -
Health & Wellbeing Fund
NHS Southampton CCG - 10,181 10,100 - 81
xii Norman Seago Trust 307 - - - 307
xiii Paul Hamlyn Foundation – - 17,500 11,886 - 5,614
Youth Fund
xiv Police & Crime Commissioner - 24,203 24,275 72 -
for Hampshire – Domestic
Abuse and Sexual Violence
Support
xv Police & Crime Commissioners - 25,000 24,997 (3) -
Safer Communities Fund
xvi Southampton City Council – - 9,952 7,784 - 2,168
Young Adults Employment
Hub
xvii Southampton City Council – - 36,630 36,633 3 -
Violence Reduction Unit
xviii
Youth Endowment Fund		 - 63,249 62,293 - 956
Charitable Trust
42,501 772,998 778,369 284 37,414

15 Funds

30

Note 15 (continued)
Unrestricted Funds
Designated functional fixed
assets
Designated COVID recovery
fund
Revaluation reserve
General purposes fund		 1,096,100
-
58,373
-
1,037,727
-
-
-
250,000
250,000
45,948
-
-
-
45,948
743,060
3,139,133
2,519,833
(250,284)
1,112,075
1,885,108
3,139,133
2,578,207
(284)
2,445,750
Restricted Funds
Big Lottery Fund – Help
Through Crisis
Big Lottery Fund – Reaching
Communities (Peer Support)
Big Lottery Fund – Preventing
Homelessness
Big Lottery Fund – Reaching
Communities (Next Steps)
Blagrave Trust
Blagrave Trust – Youth
Ambassadors
Children in Need – Stay Safe
Co-op Building Connections
Co-op Co Research
Co-op Foundation/Big Lottery
Fund #iwill
Dept of Health & Social Care –
Health & Wellbeing Fund
Hampshire Constabulary –
Serious Violence Fund
Norman Seago Trust
Southampton City Council –
Violence Reduction Unit
Southampton City Council –
Short Breaks
NHS Southampton CCG
Unrestricted Funds
Designated functional fixed
assets
Designated therapeutic services
fund
Revaluation reserve
General purposes fund		 Balance
at 1 April
2019
Income/
Gains
Expenditure/
Losses
Transfers
Balance at
31 March
2020
22,386
74,814
81,596
-
15,604
-
23,908
18,669
-
5,239
(1,948)
47,557
42,686
-
2,923
14,634
155,384
170,728
710
-
-
30,000
30,123
123
-
-
37,917
33,007
-
4,910
338
29,053
28,649
-
742
231
-
231
-
-
-
9,980
10,062
82
-
868
26,250
14,342
-
12,776
-
160,000
161,502
1,502
-
-
17,862
17,897
35
-
382
-
75
-
307
-
14,974
14,959
(15)
-
6,247
4,560
15,394
4,587
-
-
20,000
20,006
6
-
43,138
652,259
659,926
7,030
42,501
1,156,428
-
62,670
2,342
1,096,100
147,500
-
-
(147,500)
-
45,948
-
-
-
45,948
248,747
2,655,431
2,299,246
138,128
743,060
1,598,623
2,655,431
2,361,916
(7,030)
1,885,108

31

(Note 15 continued)

32

xviii Funding to enable face to face activity delivered within schools to support young people at risk of youth violence.

At the end of the project, where income from restricted funds has not met the full cost of particular activities, transfers have been made from unrestricted funds.

16 Analysis of Funds

Restricted Funds
Designated Funds
Functional fixed asset fund
Revaluation reserve
COVID recovery fund
Unrestricted Funds
Restricted Funds
Designated Funds
Functional fixed asset fund
Revaluation reserve
Unrestricted Funds		 Net Current
Assets
Tangible
Fixed
Assets
Total Net
Assets
2021
2021
2021
£
£
£
37,414
-
37,414
-
1,037,727
1,037,727
-
45,948
45,948
250,000
-
250,000
1,112,075
-
1,112,075
1,399,489
1,083,675
2,483,164
Net Current
Assets
Tangible
Fixed
Assets
Total Net
Assets
2020
2020
2020
£
£
£
42,501
-
42,501
-
1,096,100
1,096,100
-
45,948
45,948
743,060
-
743,060
785,561
1,142,048
1,927,609

33

17 Staff Costs and Employee Benefits

The average number of employees during the year was as follows:

Raising funds
Charitable activities
Governance		 2021
2020
Number
Number
4
7
103
96
8
8
115
111

The total staff costs and employee benefits was as follows:

Wages and salaries
Employer’s National Insurance contributions
Employer’s pension contributions (defined contribution scheme)		 2021
2020
£
£
2,215,619
2,068,507
175,619
158,593
81,777
77,040
2,473,015
2,304,140

Total redundancy payments amount to £11,836 (2020: £2,585).

There were 2 employees whose total employee benefits (excluding employer pension costs) fell within £60,000 to £70,000 (2020: 1) and no employees who fell within £70,000 to £80,000 (2020: 0).

There were outstanding contributions to the pension scheme at the balance sheet date of £16,902 (2020: £17,308)

18 Trustees’ and Key Management Personnel Remuneration and Expenses

The Trustees neither received nor waived any remuneration (2020: None) during the year.

The Trustees did not have any expenses reimbursed during the year (2020: None).

No trustee has any pension arrangements accruing (2020: None).

Key management personnel comprise the Chief Executive Officer, Chief Operating Officer and Head of Finance. Total key management personnel remuneration for the year was £171,908 (2020: £205,170).

Professional indemnity insurance in respect of Trustees and staff was held during the year at a cost of £1,894 (2020: £3,025). This includes Trustee Indemnity insurance premiums of £833 (2020: £1,338).

34

19 Lease Commitments

Lessee

Operating leases payments represent rentals payable by the company for a property from which it operates and for photocopier and printers which it uses. The property lease has been negotiated for a term of ten years and the equipment lease for five years. Amounts recognised in the Statement of Financial Activities as an expense during the period in respect of operating lease arrangements are £49,965 (2020: £45,562).

The charity had the following future minimum lease payments under non-cancellable operating leases as follows:

Payments due:
Not later than one year
Later than one and not later than five years
Later than five years		 2021
2021
2020
2020
Land &
Buildings
Other
Land &
Buildings
Other
£
£
£
£
33,000
17,716
33,000
17,716
99,000
44,289
132,000
62,044
-
-
-
-
132,000
65,005
165,000
79,760

Lessor

The operating leases represent leases of property to a third party. The lease has been negotiated over terms of five years and rentals are fixed. The lease includes a provision for three-yearly upward rent reviews according to prevailing market conditions.

At the reporting end date, the Charity had contracted with tenants for the following minimum lease payments:

Amounts receivable in respect of non-cancellable operating leases:

Payments due:
Not later than one year
Later than one and not later than five years		 2021
2020
Land & Buildings
Land & Buildings
£
£
10,000
10,000
-
-
10,000
10,000

35

20 Reconciliation of net income to net cash flow from operating activities

Net income for year
Interest receivable
Depreciation and impairment of tangible fixed assets
Loss on the disposal of fixed assets
(Increase)/Decrease in debtors
(Decrease)/Increase in creditors
Net cash flow from operating activities		 2021
2020
£
£
555,555
285,848
(835)
(864)
58,183
62,670
190
(246,519)
199,690
405,081
(102,535)
771,655
444,809

21 Related Party Transactions

There were no related party transactions during the year.

22 Subsidiary Undertaking

The charitable company owns the whole of the issued ordinary share capital of No Limits Trading Limited, a company incorporated and registered in England (company number 11167244). The subsidiary is used for nonprimary purpose trading activities including counselling, training and education. The total taxable profits will be gifted to the charitable company. No Limits Trading’s results are consolidated in these accounts.

36