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2021-03-31-accounts

Registered company number 04593407 Registered charity number 1103784

Foundations Independent Living Trust Limited (A company limited by guarantee) Trustees' Report and Financial Statements

31 March 2021

Foundations Independent Living Trust Limited Report and accounts Contents

Page
Company information 1
Trustees' report 2
Independent examiners' report 6
Statement of financial activities 7
Balance sheet 8
Statement of cash flows 9
Notes to the financial statements 10

Foundations Independent Living Trust Limited Charity Information

Trustees

Nick Huston Jonathan Trigg Jacqueline Winstanley Steven Wood

Independent Examiner

Stephanie Stevens Hobday-Stevens Limited Shaw House 1 Shaw Street Ashton-under-Lyne OL6 6QJ

Registered office

22 Norfolk Street Glossop Derbyshire SK13 8BS

Registered number 04593407

Charity number 1103784

1

Foundations Independent Living Trust Limited Registered number: 04593407 Trustees' Report

The trustees present their report and financial statements for the year ended 31 March 2021.

The report and financial statements also meet the requirements for a directors' report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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) (effective 1 January 2019).

Trustees’ responsibilities in relation to the financial statements

The charity trustees (who are also the directors for the purposes of company law) are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and the group and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

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

2

Foundations Independent Living Trust Limited Registered number: 04593407 Trustees' Report

Objectives and activities

The charity's objectives are to help persons in need, particularly the elderly, disabled or unemployed, by providing or assisting in the provision of home improvements and repairs in order for such persons to continue to live independently in their homes.

Funding is provided by several partner donors who either donate or contract with us to provide the grants liaison and allocation to our national network of home improvement agencies (HIAs). The HIAs then provide the grant- funded assistance to vulnerable people in their local area. The services of the Trust are widely advertised both within the HIAs sector and, where appropriate to members of the public to promote equality of access.

Our main beneficiaries are members of the public, who receive funding from Foundations Independent Living Trust following a successful grant application.

Public benefit

We have taken the commission's public benefit guidance into account when making any decision it is relevant to.

Achievements and performance

The Board of Trustees has seen no changes in personnel this year as it continues to meet its twin objectives of (1) improving the capability and capacity of Home Improvement Agencies to deliver services for some of the most vulnerable people in society; and (2) to distribute funds that agencies can use to pay for repairs and adaptations in the homes of their clients.

Thanks to generous donations from Taylor Wimpey we have commissioned a new report that will offer guidance on the delivery of home adaptations in the social housing sector and new research which demonstrates the social value of home adaptation interventions made by Home Improvement Agencies.

We have also provided free e-training for hundreds members of staff working for Home Improvement Agencies in England.

Our longstanding partnership with nPower Health Through Warmth came to a close this year as the company decided to refocus their support for vulnerable customers elsewhere. However we were able to secure new funding from the energy redress pot managed by the Energy Savings Trust. This helped us to set-up a new project "Warm and Adapted Homes" which provides training in energy advice and fuel poverty to frontline workers who support people to apply for Disabled Facilities Grants. These workers then provide advice as part of their usual visits and also have funding available to make small energy efficiency measures around the home.

Our partnership with the Gas Safe Charity has continued into its seventh year, providing funding to Home Improvement Agencies to carry out gas safety works in the home of vulnerable homeowners. The scheme has been extended across the whole of the north of England by forming a new partnership with Northern Gas Networks.

3

Foundations Independent Living Trust Limited Registered number: 04593407 Trustees' Report

Financial review

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets, which are the free reserves of the Charity, should be between three and six months of general (unrestricted) operating costs. The Trustees consider that this policy provides sufficient funds to cover management, governance and administration costs to be able to continue the activities of the Charity in the event of a significant drop in funding, or business interruption.

The free reserves as at 31 March 2021 were £121,934 (2020: £128,376). The level of reserves is monitored and reviewed quarterly by the Board of Trustees.

Investment policy

Apart from retaining a prudent amount in reserves each year, most of the charitable company's funds are spent in the short term, so therfe are few funds available for long term investment. The Trustees continue to review the charitable company's investment policy periodically.

Risk Management

The Board of Trustees, assisted by the Management Team, is responsible for the management of the risks faced by the Trust. Risks are identified, assessed and controls established throughout the year. A formal review of the charitable company's risk management processes is undertaken on an annual basis and the risk register is reviewed by Trustees quarterly. The key controls used by the Charity include:

Through the risk management processes established for the Trust, the Trustees are satisfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately safeguarded against material mismanagement or loss.

Structure, governance and management

The Trust governing document is its Memorandum and Articles of Association incorporated on 18th November 2002, as amended on 6th May 2004.

Recruitment and Trustee appointment

The charitable company's trustees are appointed at the Annual Meeting of the Trust on the basis of the Trust's requirements concerning eligibility, competence, skills and availability. A review was carried out by the Trustees to ascertain the requirements for the forthcoming year and selective recruitment of additional Trustees will be begun this year. All new Trustees are inducted into the workings of the Charity including policy and operational procedures.

All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

4

Foundations Independent Living Trust Limited Registered number: 04593407 Trustees' Report

Structure, governance and management

The appointed and elected Trustees of the Charity are legally responsible for the overall management and control of the Trust. They ensure effective implementation of policies and approval of budgets and finalisation of thestatutory accounts and Trustees report for approval by the Annual Meeting of the Board of Trustees.

Payment of creditors

The company's current policy concerning the payment of trade creditors is to:

Astral PS Ltd

The Trustees are grateful for the benefits in kind afforded by Astral PS Ltd. These are in the form of staffing support where all costs are borne by Astral PS Ltd. Although the majority of the costs relate to wages and travel expenses, administration expenses of the charity are also covered by this benefit in kind. During this financial year the in kind benefit contributed to Foundations Independent Living Trust was £15,678 (2020: £31,452).

Disclosure of information to independent examiners

Each person who was a director at the time this report was approved confirms that:

This report was approved by the board on 13 September 2021 and signed on its behalf.

Jonathan Trigg Director

5

Foundations Independent Living Trust Limited Independent examiners' report to the members of Foundations Independent Living Trust Limited

I report on the unaudited accounts of Foundations Independent Living Trust Limited for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Respective responsibilities of trustees' and independent examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

I am qualified to undertake the examination, being a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW).

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of the independent examiner's report

My examination was carried out in accordance with general Directions given by the Charity Commission. 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 you as 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 present 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:

have not been met; or

Stephanie Stevens (Independent Examiner)

Shaw House 1 Shaw Street Ashton-under-Lyne OL6 6QJ

13 September 2021

6

Foundations Independent Living Trust Limited Statement of financial activities for the year ended 31 March 2021

Notes
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total
Expenditure on:
Raising funds
6
Charitable activities
7
Other
8
Total
Net expenditure
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
14
Total funds carried forward		 Unrestricted
Restricted
Total 2021
£
£
£
29,055
-
29,055
-
307,751
307,751
295
-
295
29,350
307,751
337,101
252
-
252
39,739
288,909
328,648
4,210
-
4,210
44,201
288,909
333,110
(14,851)
18,842
3,991
8,409
(8,409)
-
(6,442)
10,433
3,991
128,376
-
128,376
121,934
10,433
132,367		 Total 2020
£
41,065
338,945
-
380,010
1,534
410,067
6,184
417,785
(37,775)
-
(37,775)
166,151
128,376

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

7

Foundations Independent Living Trust Limited Balance sheet as at 31 March 2021

Notes
Fixed assets:
Tangible assets
11
Current assets:
Debtors
12
Cash at bank and in hand
Liabilities:
Creditors: amounts falling due
within one year
13
Net current assets
Net assets
The funds of the charity:
Unrestricted income funds
14
Restricted income funds
14
Total charity funds		 Unrestricted
Restricted
2021
£
£
£
317
-
317
317
-
317
802
137,500
138,302
121,214
10,433
131,647
122,016
147,933
269,949
(399)
(137,500)
(137,899)
121,617
10,433
132,050
121,934
10,433
132,367
121,934
-
121,934
-
10,433
10,433
121,934
10,433
132,367		 2020
£
532
532
197,140
83,368
280,508
(152,664)
127,844
128,376
128,376
-
128,376

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

The trustees are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

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

The trustees have acknowledged on the balance sheet as at 31 March 2021 their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

Jonathan Trigg Director Approved by the board on 13 September 2021

8

Foundations Independent Living Trust Limited Statement of Cash Flows for the year ended 31 March 2021

Notes
Cash flows from operating activities:
Net cash provided by/ (used in) operating activities
Cash flows from investing activities:
Payments to acquire tangible fixed assets
11
Net cash provided by/ (used in) investing activities
Cash and cash equivalents at the beginning of the reporting period
Cash and cash equivalents at the end of the reporting period
Net income/ (expenditure) for the reporting period
Adjustments for:
Depreciation
11
Decrease/(increase) in debtors
12
(Decrease)/increase in creditors
13
Net cash provided by/ (used in) operating activities
Analysis of cash and cash equivalents
Cash at bank
Total cash and cash equivalents		 2021
£
48,279
-
48,279
83,368
131,647
3,991
215
58,838
(14,765)
48,279
131,647
131,647		 2020
£
(58,844)
(644)
(59,488)
142,856
83,368
(37,775)
112
(144,591)
123,410
(58,844)
83,368
83,368

9

Foundations Independent Living Trust Limited Notes to the Accounts for the year ended 31 March 2021

1 Summary of significant accounting policies

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) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of specified services it is deferred until the criteria for income recognition is met.

Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

10

Foundations Independent Living Trust Limited Notes to the Accounts for the year ended 31 March 2021

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity's work or for specific projects being undertaken by the Charity.

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses.

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Computer equipment

Over 3 years

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash 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.

Creditors

Creditors and provisions 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2 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 £1 per Trustee of the Charity.

11

Foundations Independent Living Trust Limited Notes to the Accounts for the year ended 31 March 2021

3
Income from donations and
legacies
Donations
4
Income from charitable
activities
Grants
Management fee income
5
Income from other trading
activities
Other income
6
Expenditure on raising funds
Advertising/promotional
7
Expenditure on charitable
activities
Beneficiary payments
Consultancy fees
Management fees
Equipment expensed
Partial exemption VAT
Subscriptions		 Unrestricted
Restricted
Total 2021
£
£
£
29,055
-
29,055
29,055
-
29,055
Unrestricted
Restricted
Total 2021
£
£
£
-
275,136
275,136
-
32,615
32,615
-
307,751
307,751
Unrestricted
Restricted
Total 2021
£
£
£
295
-
295
295
-
295
Unrestricted
Restricted
Total 2021
£
£
£
252
-
252
252
-
252
Unrestricted
Restricted
Total 2021
£
£
£
-
247,704
247,704
34,220
4,310
38,530
856
36,895
37,751
-
-
-
482
-
482
4,181
-
4,181
39,739
288,909
328,648		 Total 2020
£
41,065
41,065
Total 2020
£
317,160
21,785
338,945
Total 2020
£
-
-
Total 2020
£
1,534
1,534
Total 2020
£
381,634
-
25,985
550
1,045
853
410,067

12

Foundations Independent Living Trust Limited Notes to the Accounts

for the year ended 31 March 2021

8
Other expenditure
Unrestricted
Restricted
Total 2021
£
£
£
Accountancy fees
2,753
-
2,753
Bank charges
69
-
69
Computer costs
383
-
383
Sundry expenses
-
-
-
Travel and Accommodation
790
-
790
Office/General Administrative
Expenses
-
-
-
Depreciation
215
-
215
4,210
-
4,210
9
Net income/ (expenditure) for the year
2021
£
This is stated after charging:
Depreciation of owned fixed assets
215
Independent examiners' fee
750
Other accounting services
2,003		 Total 2020
£
3,495
60
528
562
1,361
66
112
6,184
2020
£
112
750
2,745

10 Staff costs

There were no employees during the year.

The charity trustees were not paid, nor received any other benefits from employment with the charity in the year. £700 was reimbursed to Trustees for travel expenses (2020: £802). No charity trustee received payment for professional or other services supplied to the charity.

13

Foundations Independent Living Trust Limited Notes to the Accounts for the year ended 31 March 2021

11 Tangible fixed assets

Cost or valuation
At 1 April 2020
Additions
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
At 31 March 2021
Carrying amount
At 31 March 2021
At 31 March 2020
12 Debtors
Trade debtors
Prepayments
Other taxes and social security
costs
13 Creditors: amounts falling due
within one year
Trade creditors
Accruals
Deferred income
Other taxes and social security
costs		 Computer
equipment
At cost
£
644
-
644
112
215
327
317
532
Unrestricted
Restricted
Total 2021
£
£
£
505
137,500
138,005
218
-
218
79
-
79
802
137,500
138,302
Unrestricted
Restricted
Total 2021
£
£
£
399
-
399
-
-
-
-
137,500
137,500
-
-
-
399
137,500
137,899		 Total
£
644
-
644
112
215
327
317
532
Total 2020
£
143,062
54,078
-
197,140
Total 2020
£
14,182
966
137,500
16
152,664

14

Foundations Independent Living Trust Limited Notes to the Accounts for the year ended 31 March 2021

14 Analysis of charitable funds

Analysis of movements in unrestricted funds

General fund At 1 April
2020
Incoming
resources
Resources
expended
Transfers
At 31 March
2021
128,376
29,350
(44,201)
8,409
121,934
128,376
29,350
(44,201)
8,409
121,934

Name of unrestricted fund Description, nature and purpose of the fund

General fund The 'free reserves' after allowing for all designated funds.

Analysis of movements in restricted funds

Gas Safe
Northern Gas Network
Warm and Apapted Homes		 At 1 April
2020
Incoming
resources
Resources
expended
Transfers
At 31 March
2021
-
269,615
(261,206)
(8,409)
-
-
33,000
(19,113)
-
13,887
-
5,136
(8,590)
-
(3,454)
-
307,751
(288,909)
(8,409)
10,433

Name of restricted fund Description, nature and purpose of the fund

Gas Safe

A project in conjunction with Gas Safe Charity to tackle the risks presented by boilers and other gas appliances in vulnerable households.

Northern Gas Network

Providing funding to Home Improvement Agencies to carry out gas safety works in the home of vulnerable homeowners.

Warm and Adapted Homes

A pilot project in St Helens with the British Red Cross to help support vulnerable adults in their own homes.

Gas Safe

To fund
Reason
Unrestricted
Funder has confirmed that the unspent
balance can be used for unrestricted
purposes		 Amount £
8,409
8,409

15

Foundations Independent Living Trust Limited Notes to the Accounts for the year ended 31 March 2021

16 Related party transactions

During the year, management and consultancy fees of £40,555 (2020: £25,985) were paid to Astral PS Ltd, a company of which Jonathan Trigg is a Director.

17 Presentation currency

The financial statements are presented in Sterling.

18 Principal place of business

The address of the company's principal place of business and registered office is:

22 Norfolk Street Glossop Derbyshire SK13 8BS

16

Foundations Independent Living Trust Limited Detailed statement of financial activities for the year ended 31 March 2021

Income
Grants
Donations
Management fee income
Other income
Expenses
Accountancy fees
Advertising/Promotional
Bank charges
Beneficiary payments
Computer Costs
Consultancy fees
Depreciation
Equipment expensed
Management fees
Office/General Administrative Expenses
Partial exemption VAT
Subscriptions
Sundry expenses
Travel and Accommodation
Net income/(net expenditure)		 Unrestricted
Restricted
TOTAL
2021
2021
2021
£
£
£
-
275,136
275,136
29,055
-
29,055
-
32,615
32,615
295
-
295
29,350
307,751
337,101
2,753
-
2,753
252
-
252
69
-
69
-
247,704
247,704
383
-
383
34,220
4,310
38,530
215
-
215
-
-
-
856
36,895
37,751
-
-
-
482
-
482
4,181
-
4,181
-
-
-
790
-
790
44,201
288,909
333,110
(14,851)
18,842
3,991		 TOTAL
2020
£
317,160
41,065
21,785
-
380,010
3,495
1,534
60
381,634
528
-
112
550
25,985
66
1,045
853
562
1,361
417,785
(37,775)

17