COMPANY REGISTRATION NUMBER 04345967 Liverpool World Centre COMPANY UMITED BY GUARANTEE FINANCIAL STATEMENTS 31 MARCH 2022 CHARITY NUMBER IIW888 •ABG9EY38' 07111r2022 COMPANIES HOUSE
74
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE CHARITY REGISTRATION NUMBER: 1100888 TRUSTEES ANNUAL REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2022 OBJECTIVES AND ACTIVITIES Under the temis of its registration as a charity. the objectNes 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 arting as an umbrella or resource body to provide education and trainin& and community development activities. Liverpool World Centre works with schoo15, colle8es, teachers and children to facilitate understanding of global issues and promote social change using topics such as Fairtrade, Climate thange 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 entered the year with a strong reputation as a -convening powert. and a known provider of global learning. This enables the organisation to lead partnerships and attract further funding, such as the successful Awards for All application that will involve five other local organisations. FINANCIAL REVIEW Both income and expenditure are reduced as income from EU projects and UK government programmes come to an end. Income is down from £474.371 to £191.401 and expenditure is down from £501,318 to £195,661. Total funds at the year amount to £138.198. of which £97.780 is restrirted and £8,403 designated, leaving General Funds of £32.015. The trustees recognise and appreciate the commitment and dedication of the team members. 2020 VISION: To create a "centre. that bring5 people, groups and ideas together making global social justice relevant for people in Merseyside. To educate about and challenge global and social injustice Support progress towards 8reater equality by ensuring voices.are heard To provide a focal point and be a catalyst for joint initiatives on social justice To continually reflett upon, learn and develop our work We will challenge practices and policies to implement our mission and deliver our vision
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES ANNUAL REPORT (CONTINUED} RESERVES POUCY The trustees have considered a target of £29,CKK) for unrestricted reserves which would provide Liverpool World Centre with the resources for a sustainable future in these challen8in8 times. STRUCTURE, GOVÉRNANCE 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 sertion 3 of the Companies Act 2006. REFERENCE AND ADMINISTrATIVE DAlls Registered charity name Liverpool World Centre Charity number li(M)888 Company registration number 04345967 Registered office Toxteth TV Centre 3745 Windsor Street Liverpool Mersey5ide L8 IXE Trustees Mrs S L Doherty Ithair) Mr F J Kennedy Mr R A Bissex FCA Itreasurerl Ms J J Purvis Mrs L A Robinson MrJOKirk 8ankers UnityTrust Bank Nine Brindleyplace Birmingham BI 2H8 Barclays Bank UK PIC 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 charitys trustee5/directors on 8 S•f 2D3>. R A Bissex Oirectornrustee
LIVERPOOI WORLD CENTRE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL AcfiviTIES (INCLUDING SUMMARY INCOME AND EXPENDITURE ACCOUNT) YEAR TO 31 MARCH 2022 Note Unrestricted Fund5 Restricted Funds Total 2022 Total 2021 INCOME Income from- Donations Charitable activities Investments TOTAL 16 50,239 137,225 3.920 137,241 54.159 400,851 73,520 50.256 141,145 191,401 474,371 EXPENDITURE Charitable artivities TOTAL 57,959 57.959 137.702 137.702 195,661 195,661 501,318 501,318 17.7031 11031 17.8061 16,676 8,870 31.548 40.418 3.443 14.2601 11031 {4,3631 126,9471 14971 127,4441 ILossl on currenry exchange NEf INCOMEI(EXPENDITURE) Transfers between funds NET MOVEMENT IN FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 3.443 116,6761 113,2331 111.013 97.780 {4,3631 142,561 138.198 127,4441 170,005 142,561
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE Chority Registrntion Number 1100888 Compony Registrotion Number 04345967 BALANCE SHEFr AT 31 MARCH 2022 Note 2022 2021 FIXED ASSETS Tangible assets CURRENT ASSETS Stocks and work in progress Debtors Cash at bank and in hand 11,732 750 128.405 140.891 2.693 18,130 3.456 121,567 143.153 592 142,561 Creditors.. amounts falling due within one year NET CURRENT ASSETS 138,198 TOTAL NET ASSETS 138.198 142,561 FUNDS OF THE CHARITY Restricted income funds Unrestricted fund5 TOTAL FUNOS io io 97,780 40.418 138.198 111,013 31,548 142,561 The company was entitled to exemption from audit under section 477 ofthe Companies Act 2006 relatin8 to small companie5. The members have not required the company to obtain an audit in accordance with sertion 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complyin8 With the requirement5 of the Cornpanies 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 FR5102 SORP. Signed on behalf of all the tru5tees/directors on R A Bissex Directornrustee
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR TO 31 MARCH 2022 I. ACCOUNTING POUCIES The principal accounting policies adopted. judgments and key sources of estimation uncertaintv in the preparation of the financial statements are as follows: qa) Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, Charities SORP IFRS 1021 and the Companies Act 2006. The charity meets the definitton a public benefit entty as defined by FRS IQ2. Assets and liabilities are initially recognised at historical cost or transartion value unless otherwise stated in the relevant accounting policy notelsl. Ib) Legal status of the Charlty 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. Ic) 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 ftjrther 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 15 included in the Statement of Financial Activities1SoFA) when: The charity becomes entitled to the resources,. It is more likely than not the charity will receive the resources.. The monetary value can be measured with sufficient reliability.
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR TO 31 MARCH 2022 There has been no offsetting of assets and liabilities. or income and expenses. unless required by or permitted bythe 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 {S.10 to 5.12 FR5102 50RPI. Gift Aid receivable is included in income when there is a valid declaration from the donor. Anv Gift Aid amount recOVed 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 inclLJded in the SOFA once the charity has provided the related good5 or Services or met the perforrnance related conditions. Income from interest This is included in the accounts when receipt is probable and the amount receivable can be measured reliablv. lfj Expenditure and liabilitie5 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 C05t5 have been allocated between governance costs and other support. Governance osts comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Redundanry costs. The charity made no redundancy payments during the peri¢yl. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over its useful life, as foll0v. 20% on cost. (8) Volunteers The value of the services provided by volunteers is not incorporated into these financial statements.
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR TO 31 MARCH 2022 (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% perannum. {1) Stocks and work in progress Work in progress is valued at cost less any foreseeable1055 that is likely to occur on the contract. (i) Debtor5 Debtors are recognised when invol5 are raised. Accrued income and tax recoverable are included at the best estimates of the amounts receivable at the balance sheet date. (kl Creditors Creditor5 are recognised where the charity ha5 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. 11) Penslons 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 deduttions for the employees. contributions. Im) Forel8n currencies Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the balance sheet date using an average rate of exchange, due to numerous fluctuations in the rate of exchange. Transactions in foreign currencies are translated into Sterling at the rate ruling on the date of the transartion. Exchange gains and losses are recognised in the Statement of Financial Attivities.
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR TO 31 MARCH 2022 2. ANALYSIS OF INCOME 2.1. Donations and legacies Unrestritted funds Restritted Total funds 2022 Total fund5 2021 Donations General grants provided by- Government (Home Office} Other charities 16 16 103,317 33,908 137.225 103,317 33.908 137.241 278,757 122,094 400.851 16 2.2. Charitable aclivities Other 50,239 3,920 54,159 73.520 2.3. Income from Investrnents Interest TOTAL INCOME 50,256 141,145 191.401 474.371 Of the total income of £474.371 for the prior year. £384,646 was restricted. 3. ANALYSIS OF EXPENDITURE -unrestricted funds Restricted Total fund5 2022 Total funds 2021 Expenditure on charitable activities Support costs 63.530 123,996 187.526 486,385 718 64,248 1.019 125.015 1,737 189,263 2,536 488,921 Work in progress Brought forward Less work in progress TOTAL EXPENDITURE 18,130 15.443) 137,702 18,130 111.7321 195.661 30,527 118,130) 501,318 16,2891 57.959 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.
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR TO 31 MARCH 2022 5. sfAFF COSTS AND EMOLUMENTS Total staff costs were: 2022 2021 Salaries Social security costs SMP refund Pension costs 111,905 2.949 14.7271 3.112 3,045 113,239 128,369 No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000. Average head count in the year 122,281 3,043 2022 No 2021 No Charitable activities None of the trustees have been paid any remuneration or any other benefits by the company during the year to 31 March 2022. 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 of the year Disposal At the end of the year 1,580 11.5801 Depreciation Fixtures, fittings and equipment At the beginning of the year Oisposal At the end of the year 1.580 11.5801 Net book value Net book value at the beginning and end of the year £0 io
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR TO 31 MARCH 2022 7. WORK IN PROGRESS 2022 2021 Expenditure incurred on the followin8 contracts GUAG INTERCAP Erasmus DEPAL Migration stories C-CDEC Contract C-Liverpool Hope University C-NVAC schools C-Tracks Through Poplar 17,504 626 2,740 2.703 2,657 1.782 1.000 850 11.732 18.130 These costs will be recovered by further income from partners who are funding these projects. 8. DEBTORS 2022 2021 Other debtors 750 3,456 9. CURRENT LIABILITIES 2022 2021 Creditors: amounts falling due within one year 2.693 592 li
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR TO 31 MARCH 2022 10. CHARITY FUNDS 10.1 Details of funds held and movements during the CURRENT reporting period Fund Income Expenditure Transfers Fund balances balances 11412021 31/312022 A4A- Windsor Street EERA ErasAGES ErasDEPAL ErasEDIT EraslCAN ErasSOT GL-Migration Stories Gen4Change Get Up and Goals Intercap LCVS-Windsor Street MRWA MWRA2-Fashion Fix TOTAL RESTRICTED 9.6 831 9.600 3.456 28,769 10,062 15.786 15,724 203 {4,3001 121.3361 {5,1671 {12,485) {18,360) 13 15.340) 14,8951 12,2251 15.340) 1203) 2.093 1,076 75.445 83,421 31.604 1179} 16.339 1,020 6,950 6.023 17,140 141,145 130,609) {17.505) 1626} (7501 (11.432) 115,132) 592 1137,7021 116.676) 550 1.166 1394) 1600) 1,366 5,600 5.409 2,600 97.780 111,013 TESSNET C-APPLE C-BERA C-CCGLHEI C-CCGLLA C-CDEC C-HOPE C-Evaluation C-NVAC Schools C-oxfam Climate C-SOLA C-Tracks though Poplar TOTAL DESIGNATED 313 313 2.554 1,450 10.786 3.301 5.582 4.5(X) 1.250 12,0001 11.1501 112.8971 {2,0281 {6.1561 {4.5CrfJI 1940) (5541 (3001 {1,736) {1,873} (1.037} 3.847 1,611 310 iO.CKX) (2,2201 (1,4431 11.4501 134.784) 7.780 1,443 1.450 40.873 7.814 15,5001 8,403 General Fund TOTAL FUNDS 23.734 142.561 9,383 191.401 123,278) 1195,764) 22.176 32,015 138,198 12
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE NOTES TO THE ACCOUNTS YEAR TO 31 MARCH 2022 10.2 Details of funds held and movements durin8 the PREVIOUS reporting period Fund Income Expenditure Transfers Fund balances balances 11412020 311312021 EERA 3,456 3.456 Erasmu5 ErasAGES ErasDEPAL ErasEDIT EraslCAN ErasSOT Gen4Change Get up and Goals Intercap MRWA TOTAL RESTRicfED 12.276 49,495 5.619 67,223 (12.273) (69.405) {97,546) 146,097) (71.208) (3) 15.3401 15,3401 15.3401 12,225) {1.730) 54.019 107,329 28.769 10,062 15.786 15,724 203 31,604 89,157 1.933 31.604 66.065 20.969 12.047 384.646 171.244) 124.942) 16,638) (399.3531 {12,185} 5.179 2.614 1.359 5,409 111,013 137,905 TESSNET C-CCGLHEI C-CCGLLA C-CDEC C-EADI C-SOLA TOTAL DESIGNATED 282 11,748 3.341 2,296 31.123 5.324 5,582 7.410 3,849 55.584 1151 139.0241 (3.9231 {3.9711 (5,0821 {2,4061 154.4211 12,250} 313 3.847 600 1.611 14,1421 12.3281 1.443 7,814 15.371 18,7201 General Fund TOTAL FUNDS 16,729 170.005 34.141 474.371 {48.0411 1501.815) 20.905 23,734 142,561 11. ANALYSIS OF NET ASSETS Restricted Unrestricted Total Current assets Current liabilities 97.780 43.316 {2,6931 40.623 141,096 12,6931 138,403 97.780 13
LIVERPOOL WORLD CENTRE COMPANY LIMITED BY GUARANTEE Chority No. 1100888 Report of the independent examiner to the trustees of Liverpool World Centre on the financial Statements for the year ended 31 March 2022, which are set out on pages 4 to 13. RESPEcfivE RESPONSIBILITIES OF DIREcfoRSmUSTEESAND EXAMINER The trustees {W are also the directors of the company for the purposes of company lawl are responsible for the preparation of the financial statements. The charivs trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 Ithe Charities Artl and that an independent examination is needed. It 15 my responsibility to- examine the finantial ststements under section 145 of the Charities Act; to follow the procedures laid down in the general Directions by the Charity Commission under section 14515llbl of the Charities Act- and to state whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER'S STATEMENT My examination wa5 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 include5 consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matter5. 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 rnatter5 Set out in the statement below. INDEPENOENT EXAMINER'S STATEMENT In connection with my exarnination, no matter has tome to my attention to indicate that- accounting records have not been kept in accordance with section 386 of the Companies Act 2Ixi6: the financial ststements do not accord with such records: where financial statements are prepared on an accruals basis, whether they fail to comply with the relevant accounting requirements under section 396 of the Companies Art 2C06, or are not consistent with the Charitie5 SORP (FRS 1021- any matter which the exarniner believes should be drawn to the attention of the reader to gain a proper understanding of the financial statements. lan Wright B.A. F.C.A. Chartered Accountant 15 Stretton Drive Southport PR9 7DR 14