**Company Number: 04768755 Registered Charity Number: 1102607**
Report of Trustees and
Unaudited Financial Statements For the Year Ended 31 March 2024
for
The Lauries Limited
The Lauries Limited
Contents of the Financial Statements Year ended 31 March 2024
|**Page No:**||
|---|---|
|1 - 4|Report of the Trustees|
|5|Independent Examiner’s Report|
|6 - 7|Balance Sheet|
|8|Statement of Financial Activities|
|9 - 16|Notes to the Financial Statements|
|17|Detailed Income and Expenditure|
The Lauries Limited Report of the Trustees Year ended 31 March 2024
## _**1. Reference and administration details**_
|Charity Number:|1102607|
|---|---|
|Company Number:|04768755|
|Principal office:|142 Claughton Road, Birkenhead CH41 6EY|
|Registered office:|6 Abbots Quay, Monks Ferry, Birkenhead, Merseyside, CH41 5LH|
|Independent Examiner:|McEwan Wallace Chartered Accountants, 6 Abbots Quay, Monks Ferry,|
|
|Birkenhead, Merseyside, CH41 5LH
|
|Bankers:|National Westminster Bank, 2-8, Church Street, Liverpool L1 3BG|
|Trustees:|Trustees who served during the year were:|
||P Basnett
Resigned 7 December 2023|
||P Crocker
Appointed 1 December 2024|
||K Eugeni
Resigned 30 November 2024|
||M Quayle
Appointed 1 December 2024|
||E Wilkes|
||S McHardy
Appointed 7 December 2023|
||and resigned 30 November 2024|
Page 1
The Lauries Limited Report of the Trustees Year ended 31 March 2024
## _**2. Structure, Governance and Management**_
The Charity is a company limited by guarantee and does not have issued share capital. In the event of the Charity being wound up, the liability in respect of the guarantee is up to £1 per member. The Charity is currently governed by its Memorandum and Articles dated 6[th] May 2003 but, as referred to above, it is intended that these will be replaced by an updated, modernised set of documents.
The Charity is a development trust incorporated on the 18[th] May 2003, Company No. 04768755. The Trust was established by a mixture of grant funding, including Single Regeneration Budget 6, European Regional Development Fund, Neighbourhood Renewal Funding, and Sure Start funding. The Trust generates income from tenants of the Trust’s building and the hire of rooms by external users of the premises.
At the Board meetings, the Trustees agree the broad strategy and areas of activity for the Trust, including consideration of investment, reserves and risk management, policies and performance.
Members of staff continue to maintain the building to a high degree of repair, decoration and cleanliness in order to enhance the experience of tenants and visitors to the Centre.
## _**3. Objectives and Activities**_
The Development Trust’s activities and objectives are to promote any charitable purpose for the benefit of the community within Birkenhead and Tranmere and surrounding areas (area of benefit), and in particular the advancement of education, promotion of good health, and to provide a focus for development and regeneration.
## **Tenants**
Occupancy levels remained relatively stable throughout the year, however The Lauries Centre continues to operate in a challenging economic environment. Birkenhead is classed as an economically deprived area and attracts ‘assisted area status’, (where GDP per capita is below 75% of the EU average). This environment naturally constrains the income generating capacity of the Charity. To support the Charity, Wirral Chamber of Commerce has pro-actively promoted the Centre and advocated the use of its facilities to the membership.
## _**4. Achievements and Performance**_
Once again, the main achievements have been to maintain and improve existing tenant occupancy levels. The centre has been supported through the activities of Wirral Chamber of Commerce and Industry and the Lauries subsidiary, Lauries Events Ltd. All office space has now been refurbished with a large office on the second floor renovated to create three smaller glass fronted offices. The centre is very much used by the community, particularly with Adult Learning courses being run in a number of classrooms and with Blood Donations taking place each month.
Page 2
The Lauries Limited Report of the Trustees Year ended 31 March 2024
## _**5. Financial Review**_
It is the aim of the charity to maintain unrestricted funds, which are free reserves of the charity, at a level which equates to at least three months’ unrestricted expenditure. This provides sufficient funds to cover management, administration and support costs. During the year a surplus of £282 was generated (2023: £69,862 deficit) which created net assets of £2,441 (2023: £2,159) The trustees note that although the company has returned to a modest level of net assets, the net current assets are £192 (2023: £15,808 net current liabilities), and are planning to increase the level of funds held in reserve in the coming year.
With the growth of its supporting organisation Wirral Chamber of Commerce and Industry and the opportunities available through the Birkenhead First Initiative, the Trustees believe the Charity is in a strong position to capitalise on its future activities.
## **Public Benefit**
The Trustees continue to strive to meet the objectives, providing the activities referred to above and believe that they have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission.
Page 3
The Lauries Limited Report of the Trustees Year ended 31 March 2024
## **Statement of Trustees’ Responsibilities**
The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.
On behalf of the board:
P Crocker – Trustee
Date: 19 December 2024
Page 4
The Lauries Limited Independent Examiner’s Report Year End 31 March 2024
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2024.
## Responsibilities and basis of report
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## Independent examiner’s report
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
- (1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
- (2) the accounts do not accord with those accounting records; or
- (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
- (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
McEwan Wallace Chartered Accountants 6 Abbots Quay Monks Ferry Birkenhead CH41 5LH Date: 19 December 2024
Page 5
The Lauries Limited Balance sheet As at 31 March 2024
|**Notes**
**FIXED ASSETS**
Tangible assets
5
**CURRENT ASSETS**
Debtors
6
Cash at bank in hand
**TOTAL CURRENT ASSETS**
**CREDITORS: Amounts falling**
**due within one year**
7
**NET CURRENT ASSETS /**
**(LIABILITIES)**
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
**CREDITORS: Amounts falling**
**due within one year**
8
**NET ASSETS**
**FUNDS**
Restricted funds
Unrestricted funds
10|**2024 Total**
**£**
**£**
32,771
38,801
44,372
22,148
66,520
(66,328)
192
32,963
(30,522)
2,441
2,441
2,441|**2023**
**£**
45,707
47,848|**Total**
**£**
53,863|
|---|---|---|---|
||||37,841
(15,808)|
||66,520
(66,328)|93,555
(109,363)||
|||||
||||38,055
(35,896)|
||||2,159|
||||2,159|
||||2,159|
Page 6
The Lauries Limited Balance sheet (continued) As at 31 March 2024
In approving these financial statements as trustees of the company we confirm:
For the period ended 31 March 2024 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 of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
The financial statements were approved by the Board of Trustees on 19 December 2024 and signed on its behalf by:
P Crocker – Trustee
The notes set out on pages 9 to 16 form part of these financial statements.
Page 7
The Lauries Limited Statement of Financial Activities (Including Income And Expenditure Account) Year ended 31 March 2024
|**Notes**
**INCOMING &**
**EXPENDITURE**
Incoming resources from
charitable activities:
Rental income
Other incoming resources:
Sundry
Grants
Total Incoming Resources
**CHARITABLE**
**EXPENDITURE**
Charitable activities
2
Total Resources Expended
9
**NET INCOMING**
**RESOURCES FOR THE**
**YEAR**
Balances brought forward as at
01.04
Balance carried forward as at
31.03|**Restricted**
**£**
-
-
-
-
-
-
-
-
-|**Un**
**restricted**
**£**
292,722
45,980
-
338,702
338,420
338,420
282
2,159
2,441|**2024**
**Total**
**£**
292,722
45,980
-
338,702
338,420
338,420
282
2,159
2,441|**2023**
**Total**
**£**
236,331
27,809
10,000|
|---|---|---|---|---|
|||||274,140
344,003|
|||||344,003
(69,863)
72,021|
|||||2,159|
The Charity has neither acquired nor commenced any new business activities in the year nor discontinued any operations and it has no recognised gains or losses other than the surplus for the year.
The notes set out on pages 9 to 16 form part of these financial statements.
Page 8
The Lauries Limited Notes to the Financial Statements Year ended 31 March 2024
## 1. ACCOUNTING POLICIES
## (a) Basis of Accounting
The financial statements have been prepared in accordance with the charity's governing document, the 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The charity is exempt from the requirement to prepare group accounts by virtue of section 398 of the Companies Act 2006. These financial statements, therefore, present information about the company as an individual undertaking and not about its group.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## (b) Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future.
The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below;
When an asset is purchased it is categorised into an asset class, the depreciation policy of each class estimates the economic life of all assets within the class.
The depreciation policy of each asset class is determined by management and reviewed regularly for appropriateness. The depreciation policy adopted is based on historical experience as well as considering the future events which may impact the useful economic life of all assets within each class, such as changes in market demands.
In addition FRS 102 requires an entity to assess at each reporting date whether there is any indication that assets within a class may be impaired i.e. the recoverable amount of the asset is less than the carrying amount. If any such indication exists, management are required to estimate the recoverable amount of the individual assets concerned.
Management judgement is applied to determine if revenue and costs should be recognised in the current period.
Page 9
The Lauries Limited Notes to the Financial Statements Year ended 31 March 2024
## ACCOUNTING POLICIES- cont
## (c) Income and Expenditure
All income and expenditure is accounted for on the accruals basis.
## (d) Depreciation
Depreciation is calculated to write off the cost or valuation, less estimated residual values, of tangible fixed assets over their estimated useful lives to the charity. The annual depreciation rate and methods are as follows:
Fixtures and fittings - 25% on cost
Assets are not capitalised if the value is less than £100.
Impairment reviews are carried out on an annual basis.
## (e) Resources expended
The cost headings comprise expenditure, including staff costs, directly attributable to the organisation’s activity. Where cost cannot be directly attributed they have been allocated to activities on a basis consistent with the use of the resources.
## (f) Grants Receivable
These are accounted for when receivable and are classed as unrestricted income unless the donor imposes restrictions for their use.
## (g) Incoming Resources
No incoming resources are shown in the Statement of Financial Activities net of expenditure.
## (h) Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, prepayments, accrued income, trade creditors, accruals and deferred income.
All financial instruments are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Financial Activities.
Page 10
The Lauries Limited Notes to the Financial Statements Year ended 31 March 2024
## 2. CHARITABLE ACTIVITIES
|**Restricted**
**£**
Running costs
Interest payable
. OPERATING SURPLUS
Operating surplus is stated after charging:
Depreciation
Accountants’ remuneration (including expenses)
. STAFF COSTS
The cost of employing staff was:
Wages and salaries (inc social security)|**Total**
**Total**
**Unrestricted**
**2024**
**2023**
**£**
**£**
**£**
337,451
337,451
342,905
969
969
1,098
**2024**
**2023**
21,092
16,927
238
1,393
**2024**
**2023**
76,507
81,339|
|---|---|
|||
## 3. OPERATING SURPLUS
## 4. STAFF COSTS
During the year no employee earned over £60,000.
The average number of staff employed by the charity during the year was as follows:
|Management|**2024**
3
3|**2023**
4|
|---|---|---|
|||4|
Page 11
The Lauries Limited Notes to the Financial Statements Year ended 31 March 2024
## 5. TANGIBLE FIXED ASSETS
|**COST**
At 1st April 2023
Additions
Disposals
As at 31stMarch 2024
**DEPRECIATION**
At 1stApril 2023
Charge for the period
Disposals
As at 31stMarch 2024
**NET BOOK VALUE**
At 31st March 2024
At 31stMarch 2023|**Fixtures and**
**fittings**
**£**
98,645
-
-
98,645
44,782
21,092
-
65,874
32,771
53,863|**Total**
**£**
98,645
-
-|
|---|---|---|
|||98,645|
|||44,782
21,092
-|
|||65,874|
|||32,771|
|||53,863|
Page 12
The Lauries Limited Notes to the Financial Statements Year ended 31 March 2024
## 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|Trade debtors
Other debtors
Prepayments|**2024**`
32,226
10,000
2,146
44,372|**2023**
11,782
10,000
23,925|
|---|---|---|
|||45,707|
## 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|Trade creditors
Other creditors
Bank Loans
Social security
Accruals
Deferred income|**2024**
9,912
10,429
5,374
1,103
10,510
29,000
66,328|**2023**
43,722
10,703
5,241
1,411
7,285
41,001|
|---|---|---|
|||109,363|
## 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
|Bank loans and overdrafts|**2024**
30,522
30,522|**2023**
35,896|
|---|---|---|
|||35,896|
Page 13
The Lauries Limited Notes to the Financial Statements Year ended 31 March 2024
9. TOTAL RESOURCES EXPENDED
|Charitable expenditure
10. UNRESTRICTED FUNDS
Balance of Reserves brought forward
Net unrestricted surplus / (deficit) in the year
Balance of unrestricted reserves retained|**2024**
337,451
337,451
**2024**
2,159
282
2,441|**2023**
342,905|
|---|---|---|
|||342,905|
|||**2023**
72,021
(69,862)|
|||2,159|
Unrestricted funds are incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Page 14
The Lauries Limited Notes to the Financial Statements Year ended 31 March 2024
## 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS
|**2024**
**Unrestricted Funds**
**Restricted Funds**
**2023**
**Unrestricted Funds**
**Restricted Funds**|**Intangible**
**Fixed Assets**
**Tangible**
**Fixed**
**Assets**
**Net**
**Current**
**Assets**
**Total**
**£**
**£**
**£**
**£**
-
32,771
(30,330)
2,441
-
-
-
-|
|---|---|
||-
32,771
(30,330)
2,441
**Intangible**
**Fixed Assets**
**Tangible**
**Fixed**
**Assets**
**Net**
**Current**
**Assets**
**Total**
**£**
**£**
**£**
**£**
-
53,863
(51,704)
2,159
-
-
-
-|
||-
53,863
(51,704)
2,159|
## 12. RELATED PARTY DISCLOSURES
S McHardy is also a director of Egerton House (Wirral) CIC and P Crocker is also a director of Age Concern Wirral.
At the year end, The Lauries Limited owed Wirral Chamber of Commerce and Industry £2,642 (2023: £14,920).
## 13. OTHER FINANCIAL COMMITMENTS
The charity operates from The Lauries Centre. This is leased from Wirral Borough Council for a nominal peppercorn rent.
Page 15
The Lauries Limited Notes to the Financial Statements Year ended 31 March 2024
## 14. COMPARATIVE OF THE SoFA
|**Notes**
**INCOMING & EXPENDITURE**
Rental income
Sundry income
Grants
Total Incoming Resources
**CHARITABLE EXPENDITURE**
Charitable activities
2
Interest payable
Total Resources Expended
9
**NET INCOMING RESOURCES**
**FOR THE YEAR**|**Restricted**
**£**
-
-
-
-
-
-
-
-|**Un**
**restricted**
**£**
292,722
45,980
-
338,702
337,451
969
338,420
282|**2024**
**Total**
**£**
292,722
45,980
-|
|---|---|---|---|
||||338,702
337,451
969|
||||338,420
282|
## 15. STATUTORY INFORMATION
The Lauries Limited is a private company, limited by guarantee, registered in England and Wales. The company’s registered number and register office address can be found on the Reference and administration details page.
The presentation currency of the financial statements is the Pound Sterling (£).
Page 16
The Lauries Limited Income and Expenditure account Year ended 31 March 2024
|**Income**
Government grants
Rental income
Sundry income
**Administrative Expenses:**
Wages
Social security costs
Staff pension costs
Insurance
Rates and water
Light and heat
Repairs and renewals
Accountancy
Management fee
Professional fees
Hire of equipment
Printing and Stationery
Sundry
Donations
Telephone
Cleaning
Charges
Depreciation
Profit or loss on sale of tangible assets
**Interest payable and similar expenses:**
Bank interest on loans and overdrafts
Net surplus|**2024**
**£**
-
292,722
45,980
338,702
76,507
4,588
1,780
6,593
8,680
91,529
36,997
238
42,000
1,463
10,079
1,504
18,557
1,259
5,435
6,345
2,805
21,092
-
(337,451)
969
(969)
282|**2023**
**£**
10,000
236,332
27,809|
|---|---|---|
|||274,141
81,339
6,727
2,325
7,997
9,498
51,862
48,039
1,393
53,640
883
7,089
719
8,693
28,440
5,473
6,095
2,260
16,927
3,506|
|||(342,905)
1,098|
|||(1,098)|
|||(69,862)|
Page 17