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2021-03-31-accounts

COMPANY REGISTRATION NUMBER 04345967

LIVERPOOL WORLD CENTRE

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

31 MARCH 2021

CHARITY NUMBER 1100888

LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

CHARITY REGISTRATION NUMBER: 1100888

TRUSTEES ANNUAL REPORT

(INCLUDING DIRECTORS’ REPORT)

FOR THE YEAR ENDED 31 MARCH 2021

OBJECTIVES AND ACTIVITIES

Under the terms of its registration as a charity, the objectives of Liverpool World Centre are “to advance public education in issues of global development.” These objectives are to be achieved through the provision of services and through acting as an umbrella or resource body to provide education and training, and community development activities.

Liverpool World Centre works with schools, colleges, teachers and children to facilitate understanding of global issues and promote social change using topics such as Fairtrade, Climate Change and Sustainable Development to encourage active global citizenship. It also engages with other bodies whose activities are of a similar nature.

The trustees have regard to the guidance issued by the Charity Commission on public benefit, and have confidence in that the activities do benefit the global public.

ACHIEVEMENTS AND PERFORMANCE

Liverpool World Centre had a successful year in responding to the requirements of the three European funders. The potential of the organisation and the ongoing work with educators is recognised by its participation in international conferences.

As part of the review of the organisation and governance a new trustee was appointed during the year.

FINANCIAL REVIEW

There was an increase in income from £332,747 to £474,371, reflecting the release of funds from European funders. Total expenditure increased from £252,215 to £501,318. Expenditure of £18,130 is included in work in progress, and thus will be covered by further income. There was a small decrease in unrestricted reserves from £32,100 to £31,548, however this includes designated funds of £7,814.

The trustees recognise and appreciate the commitment and dedication of the team members.

2020 VISION: To create a “centre” that brings people, groups and ideas together making global social justice relevant for people in Merseyside.

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LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT (CONTINUED)

RESERVES POLICY

The trustees have considered a target of £29,000 for unrestricted reserves which would provide Liverpool World Centre with the resources for a sustainable future in these challenging times.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The company was incorporated with a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

The company is registered as a private company limited by guarantee and not having a share capital, in accordance with section 3 of the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered charity name Liverpool World Centre
Charity number 1100888
Company registration number 04345967
Registered office Toxteth TV Centre
37-45 Windsor Street
Liverpool
Merseyside
L8 1XE
Trustees Mrs S L Doherty (chair)
Mr F J Kennedy
Mr R A Bissex FCA (treasurer)
Ms J J Purvis
Mrs L A Robinson
Mr J O Kirk (appointed 9 June 2020)
Bankers Unity Trust Bank
Nine Brindleyplace
Birmingham
B1 2HB
Barclays Bank UK Plc
Liverpool City

The company has taken advantage of the small companies’ exemption in preparing the above report.

The trustees are the Key Management Personnel and declare that thy have approved the trustees’ report (including directors’ report) above. Signed on behalf of the charity’s trustees/directors on 22 November 2021

R A Bissex

Director/Trustee

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LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING SUMMARY INCOME AND EXPENDITURE ACCOUNT)

YEAR TO 31 MARCH 2021

Note
INCOME
Income from:
Donations
2.1
Charitable activities
2.2
Investments
2.3
TOTAL
EXPENDITURE
Charitable activities
3
TOTAL
(Loss)/gain on currency exchange
NET INCOME/(EXPENDITURE)
Transfers between funds
NET MOVEMENT IN FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted

Funds
£
16,205
73,520
-
89,725
101,965
101,965
(12,240)
(497)
(12,737)
12,185
(552)
32,100
31,548		 Restricted
Funds
£
384,646
-
-
384,646
399,353
399,353
(14,707)
-
(14,707)
(12,185)
(26,892)
137,905
111,013		 Total
2021
£
400,851
73,520
-
474,371
501,318
501,318
(26,947)
(497)
(27,444)
-
(27,444)
170,005
142,561		 Total
2020
£
274,147
58,595
5
332,747
252,215
252,215
80,532
(3,587)
76,945
-
76,945
93,060
170,005

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LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

Charity Registration Number 1100888

Company Registration Number 04345967

BALANCE SHEET

AT 31 MARCH 2021

Note
FIXED ASSETS
6
Tangible assets
CURRENT ASSETS
Stocks and work in progress
7
Debtors
8
Cash at bank and in hand
Creditors: amounts falling due within one year
9
NET CURRENT ASSETS
TOTAL NET ASSETS
FUNDS OF THE CHARITY
Restricted income funds
10
Unrestricted funds
10
TOTAL FUNDS		 £
18,130
3,456
121,567		 2021
£
-
142,561
142,561
111,013
31,548
142,561		 2020
£
203
30,527
8,285
134,865
143,153
592		 173,677
3,875
169,802
170,005
137,905
32,100
170,005

The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of financial statements.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies’ regime and in accordance with FRS102 SORP. Signed on behalf of all the trustees/directors on 22 November 2021 .

R A Bissex Director/Trustee

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LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR TO 31 MARCH 2021

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

(a) Basis of preparation

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), Charities SORP (FRS 102) and the Companies Act 2006.

The charity meets the definition a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

(b) Legal status of the Charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.

(c) Going concern

The trustees consider there are no reasons to suggest that funding for the current projects will not continue and therefore the financial statements are prepared on a going concern basis.

(d) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are for the various projects undertaken by the charity. The cost of raising and administering such funds are charged against the specific fund.

(e) Income

Income is included in the Statement of Financial Activities (SoFA) when:

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LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR TO 31 MARCH 2021

There has been no offsetting of assets and liabilities, or income and expenses, unless required by or permitted by the FRS 102 SORP or FRS 102.

Grants and donations are only included in the Statement of Financial Activities when the general income criteria are met (5.10 to 5.12 FRS102 SORP).

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

Contractual income and performance related grants

This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.

Income from interest

This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.

(f) Expenditure and liabilities

Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constrictive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

Governance and support costs

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Redundancy costs.

The charity made no redundancy payments during the period.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over its useful life, as follows: 20% on cost.

(g) Volunteers

The value of the services provided by volunteers is not incorporated into these financial statements.

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LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR TO 31 MARCH 2021

(h) Fixed assets

Tangible fixed assets were capitalised if used for more than one year, and cost at least £250. Furniture and equipment acquired during the year and funded by restricted income are expensed within the year. Other assets are valued at cost and depreciated over five years at 20% per annum.

(i) Stocks and work in progress

Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.

(j) Debtors

Debtors and other debtors are recognised at the settlement amount due. Accrued income and tax recoverable are included at the best estimates of the amounts receivable at the balance sheet date.

(k) Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

(l) Pensions

Employees of the charity are entitled to join a defined contribution money purchase scheme. The charity contribution is restricted to 3% of salaries. There were no outstanding contributions at the year-end. The costs of the of the defined contribution scheme are included with the associated staff costs and allocated therefore to raising funds, charitable activities, support and governance costs.

The money purchase plan is managed by NEST. The charity has no liability beyond making its contributions and paying across the deductions for the employees’ contributions.

(m) Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of Financial Activities.

8

LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR TO 31 MARCH 2021

2. ANALYSIS OF INCOME

2.1. Donations and legacies

Membership
General grants provided by:
Government (Home Office)
Other charities
2.2. Charitable activities
Other
2.3. Income from investments
Interest
TOTAL INCOME		 Unrestricted
funds
£
-
16,205
-
16,205
73,520
-
89,725		 Restricted
£
-
262,552
122,094
384,646
-
-
384,646		 Total funds
2021
£
-
278,757
122,094
400,851
73,520
-
474,371		 Total funds
2020
£
65
160,476
113,606
274,147
58,595
5
332,747

2.2. Charitable activities

2.3. Income from investments

Of the total income of £332,747 for the prior year, £274,082 was restricted.

3. ANALYSIS OF EXPENDITURE

Expenditure on charitable
activities
Support costs
Work in progress
Brought forward
Less work in progress
TOTAL EXPENDITURE		 Unrestricted
funds

£
100,380
1,414
101,794
171
-
101,965		 Restricted

£

386,005

1,122

387,127

30,356

(18,130)

399,353		 Total funds
2021


£

486,385

2,536

488,921

30,527
(18,130)

501,318		 Total funds
2020
£
247,008
2,750
249,758
32,984
(30,527)
252,215

Time spent on grant applications has not been identified.

4. FEES FOR EXAMINATION OF THE ACCOUNTS

No fee has been incurred in connection with the examination of these accounts.

9

LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR TO 31 MARCH 2021

5. STAFF COSTS AND EMOLUMENTS

Total staff costs were:

2021
2020
£
£
Salaries 122,281
117,799
Social security costs 3,043
3,979
SMP refund -
(6,555)
Pension costs 3,045
3,012
128,369
118,235
No employees received employee benefits (excluding employer pension costs) for the reporting
period of more than £60,000.
Average head count in the year
2021 2020
No No
Charitable activities 9 8

None of the trustees have been paid any remuneration or any other benefits by the company during the year to 31 March 2021. The only expense paid to the trustees is the reimbursement of the filing fee from Companies House for the confirmation statement.

6. TANGIBLE FIXED ASSETS

Cost Fixtures, fittings
and equipment
£
At the beginning and end of the year 1,580
Depreciation
At the beginning of the year
Depreciation at 20% straight line
At the end of the year
Net book value
Net book value at the beginning of the year

Net book value at the end of the year		 Fixtures, fittings
and equipment
£
1,377
203
1,580
£203
£0

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LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR TO 31 MARCH 2021

7. WORK IN PROGRESS

WORK IN PROGRESS
Expenditure incurred on the following contracts
GUAG
INTERCAP
C-EADI		 2021
£
17,504
626
-
18,130		 2020
£
30,356
-
171
30,527

These costs will be recovered by further income from European partners who are funding these projects.

8. DEBTORS

DEBTORS
Other debtors
CURRENT LIABILITIES
Creditors: amounts falling due within one year		 2021
£
3,456
2021
£
592		 2020
£
8,285
2020
£
3,875

9. CURRENT LIABILITIES

10. CHARITY FUNDS

10.1 Details of material funds held and movements funds held and movements during the CURRENT reporting period CURRENT reporting period
Fund Income Expenditure
Transfers
Fund
balances balances
1/4/2020 31/3/2021
£ £ £
£
£
EERA - 3,456 -
-
3,456
Erasmus 12,276 - (12,273)
(3)
-
ErasAGES 49,495 54,019 (69,405)
(5,340)
28,769
ErasDEPAL 5,619 107,329 (97,546)
(5,340)
10,062
ErasEDIT 67,223 - (46,097)
(5,340)
15,786
ErasICAN - 89,157 (71,208)
(2,225)
15,724
ErasSOT 1,933 - -
(1,730)
203
Gen4Change - 31,604 -
-
31,604
Get Up and Goals - 66,065 (71,244)
5,179
-
Intercap 1,359 20,969 (24,942)
2,614
-
MRWA - 12,047 (6,638) -
5,409
TOTAL RESTRICTED 137,905 384,646 (399,353) (12,185)
111,013

11

LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR TO 31 MARCH 2021

10.1 Details of material funds held and movements during the CURRENT reporting period

TESSNET
C-CCGLHEI
C-CCGLLA
C-CDEC
C-EADI
C-SOLA
TOTAL DESIGNATED
TOTAL RESTRICTED
General Fund
TOTAL FUNDS		 Fund
balances
1/4/2020
£
282
11,748
3,341
-
-
-
15,371
137,905
16,729
170,005		 Income
2,296
31,123
5,324
5,582
7,410
3,849
55,584
384,646
34,141
474,371		 Expenditure
(15)
(39,024)
(3,923)
(3,971)
(5,082)
(2,406)
(54,421)
(399,353)
(48,041)
(501,815)		 Transfers
(2,250)
-
(4,142)
-
(2,328)
-
(8,720)
(12,185)
20,905
-		 Fund
balances
31/3/2021
313
3,847
600
1,611
-
1,443
7,814
111,013
23,734
142,561

10.2 Details of material funds held and movements during the PREVIOUS reporting period

BSBT2019
Erasmus
ErasAGES
ErasDEPAL
ErasEDIT
ErasSOT
Get up and Goals
Intercap
TOTAL RESTRICTED
TESSNET– designated
C-CCGLHEI
C-CCGLLA
C-EADI
TOTAL DESIGNATED
General Fund
TOTAL FUNDS		 Fund
balances
1/4/2019
£
3,956
15,696
-
-
51,945
760
-
-
72,357
816
-
-
-
816
19,887
93,060		 Income
£
6,890
19,383
54,126
34,426
52,541
4,428
61,822
40,466
274,082
-
17,173
3,341
4,891
25,405
33,260
332,747		 Expenditure
£
(12,434)
(19,575)
(1,524)
(25,790)
(32,163)
(2,148)
(64,087)
(40,567)
(198,288)
(534)
(5,425)
-
(4,891)
(10,850)
(46,664)
(255,802)		 Transfers
£
1,588
(3,228)
(3,107)
(3,017)
(5,100)
(1,107)
2,265
1,460
(10,246)
-
-
-
-
-
10,246
-		 Fund
balances
31/3/2020
£
-
12,276
49,495
5,619
67,223
1,933
-
1,359
137,905
282
11,748
3,341
-
15,371
16,729
170,005

12

LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

NOTES TO THE ACCOUNTS

YEAR TO 31 MARCH 2021

11. ANALYSIS OF NET ASSETS

Current assets
Current liabilities		 Restricted

£
111,013
-
111,013		 Unrestricted
£
32,140
(592)
31,548		 Total
£
143,153
(592)
142,561

13

LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE

Charity No. 1100888

Report of the independent examiner to the trustees of Liverpool World Centre on the financial statements for the year ended 31 March 2021, which are set out on pages 4 to 13.

RESPECTIVE RESPONSIBILITIES OF DIRECTORS/TRUSTEES AND EXAMINER

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

BASIS OF INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with the general Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts give a “true and fair” view and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no matter has come to my attention to indicate that:

22 November 2021

Ian Wright B.A. F.C.A. Chartered Accountant 15 Stretton Drive Southport PR9 7DR

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