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← The Florence Institute Trust Limited

2024-03-31-accounts

EST. 1889 i J THE FLORENCE INSTITUTE TRUST ANNUAL REPORT 1ST APQIL 2023 - 37S- MARC.H 2024

Table of Contents

Table of Contents
Trustee Report & Key Aims 1
CEO Report 3
Financial Overview 4
Community Hub & Fundraising 5
Highlights & The Year In Numbers 7
The Basement - Youth Activities 13
Trade, Commercial & Events 15
Media & Marketing 18
In Memory 20

STAFF AT THE FIRST BIG GUITAR IN AT ST GEORGES HALL

OUR TEAM OF FUNDRAISERS AHEAD OF THE LIVERPOOL HALF MARATHON

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3
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Trustees Report

The Trustees are pleased to report a resounding success in the charity's efforts once again thanks to the hard work and commitment of the staff team, volunteers and several stakeholders. This year, after several long years of planning and fundraising we successfully secured capital investment funding to refurbish and re-purpose our basement area into a dedicated children’s zone; ‘The Basement’ has a new radio recording studio, a games room and a state of the art cinema.

Other parts of the building have also undergone some much needed repairs and upgrading, including the grand hall, wc’s and meeting rooms, with further works scheduled for the coming year to include the building exterior and courtyard.

We have further news about the Florrie Community Land Trust and at the time of writing have submitted a pre-planning proposal for new homes and managed workspaces that will support the charity in perpetuity. Other good news stories include major events and activities through our Community Hub Programme, Events team, Community Fundraising and Men’s Mental Health Group, all of which are further detailed within the main body of this report.

At last years AGM we welcomed three new Trustees to the Board, who bring with them a wealth of experience to help continue steering and supporting the growth of the charity, ensuring we continue to look after The Florrie’s heritage and Grade II listing and the charity remains financially healthy and stable.

“ As a Trustee I’m proud of what The Florrie has achieved and I’m excited for the future plans that will give the charity a sustainable future and help us continue delivering great events, activities, classes and supporting our members and people who use our services ”

John Welsh

1

Key Aims and Objectives for 2024-25

  1. Maintain The Florrie’s Grade II heritage listing and secure funds for the ongoing facility management and upkeep of the building and repairs.

  2. Continue to deliver organised community hub activities and support those individuals and families who are in need, are affected by the cost of living rises and use our facilities and services.

  3. Secure further funding to ensure the delivery of children’s activities in the new youth facility.

  4. Continue to build the annual events side of the charities business which generates much needed unrestricted income.

  5. Work with partners to secure the successful transfer of banked land adjacent to the Florrie for community led housing through the LCC Community Asset Land Transfer process.

  6. Further develop a robust fundraising strategy that balances commercial and grant income with community fundraising and community events.

  7. Ensure the charity continues to review and realign its business priorities to remain solvent and operational.

The Florence Institute Trust (The Florrie) is a charity established in 2010. Charity No. 1109301. The Florence Institute Trust follow the Charity Governance Code as set out by the Charities Commission and practice the codes seven principles - leadership; integrity; decision making; risk and control; board effectiveness; diversity; openness and accountability. These principles underpin the charities governance and organisation purpose.

CEO Report

It has been an extremely challenging year for everyone at The Florrie, one of the hardest in my nine years as CEO and although we have been successful in delivering a packed year of successful events and activities and secured much needed funding to support and deliver our activities and services, it has been a year filled with personal sadness and losses. We have felt the loss of loved ones and have overcome both personal and work challenges to ensure we give our best to this charity.

We will always advocate for and ensure the health and wellbeing of our staff, volunteers and those who use our services. I am full of gratitude for all of the support shown by the trustees, staff and our valued volunteers and hold so much admiration for their strength and purpose to always put this charity and the people who use our facility and services at the heart of everything we do. Staff have passion for their job, they talk about The Florrie and the work they do with enthusiasm which fuels their brilliant creativity and makes what we do meaningful, which you will see examples of throughout this report.

I am extremely proud of the team, finally securing funding and overseeing the refurbishment of the basement after nine years of fundraising and delivering youth activities on little or no budget. Partners and colleagues past and present will know how hard we have all campaigned and worked to make this happen and we hope the schools, community groups and children are enjoying their new facility.

We have been reporting on The Florrie CLT plans since 2021 and expect to share a decision later this year on the progression of the transfer of three pockets of land from LCC into the ownership of The Florrie as we progress through the Asset Land Transfer process.

Finally, on behalf of everyone at The Florrie I would like to thank all our partners and stakeholders for their continued support, especially everyone who has fund raised for or volunteered their time at an event or activity; from giving free welfare advice to running marathons to playing guitar/ukulele, your efforts have been admired and praised around the world. Thank you.

Anne Lundon

CEO

3

Financial Overview

We are pleased to report that the charity remains solvent despite a huge rise in building and utility costs, generating both restricted and unrestricted capital and revenue income from a mix of fundraising events, grant, trade events, and commercial bookings.

Trustees and members will note from the annual accounts our utility costs rose by a massive 74% this year and we expect further rises in the coming financial year, this coupled with the rises in the National Living Wage have also increased salary costs. The charity is committed to reviewing all salaries affected to ensure we are a Real Living Wage employer by January 2025 and this is reflected in the proposed income targets for 2024-2025.

In the financial reporting year of 1st April 2023 to 31st March 2024, the charity generated a total income of £794,123 and incurred total expenditure of £611,031 resulting in surplus for the year of £184,092. Of this income £405,000 was capital income and direct expenditure for The Basement refurbishment.

The charity carries forward an accumulated surplus of restricted, designated, and unrestricted funds (excluding fixed assets) of £706,366, into the new 2024/2025 financial year, this includes additional capital expenditure to the Basement refurbishment totalling £308,994, leaving £84,306 representing unrestricted funds. Note: Capital expenditure incurred this year will be written off over the expected life of the asset (20 years) and included in the depreciation figure above.

Reserves policy:

It is the intention of the charity to ensure that once the charity achieves sustainability via its activities, that a surplus of income over expenditure be achieved, The objective of the charity is to be in a position to procure up to 12 months annual running costs which would be held and sustained in a reserves account.

Beverley Forde

Finance Manager

Dave Eden Trust

We continue to receive a beneficiary donation from the Trust established by our good friend Dave Eden who sadly passed away in 2020. Dave was a member of The Florrie Guitar Group and thanks to the Trusts generous donation, this year we were able to support families at Christmas with hampers, toys and utilities.

David Clarke Donation

With thanks to David Clarke who made a donation from his late mothers estate to four local L8 organisations, The Florrie being one of them. This funding has helped keep all of our Community Hub activities free and contributes towards a counsellor, welfare support worker , community shop, and other support services, including the Walk Florrie Mens Mental Health support group.

4

Community Hub & Fundraising

The Community Hub is a programme of FREE services, activities and events that engage, empower and support people.

We do this through a weekly timetable of activities and classes, under the themes of: (1) community arts and music (2) education and training and (3) health and wellbeing.

In total over 40 hours of activities are delivered every week, entirely run by volunteers. This year classes and activities have included; Keep Fit, Yoga, Kata, Tai Chi, Guitar, Ukulele, Table Tennis, Art Group, Local History, Reading Group, Languages (English, Spanish & French), Dyslexia Support, Autism Support, Board Games, Walking Football, Sense of Calm, Mens Walking Group, Bike Club, Gardening Club, Drama Group, Florrie Radio, Cinema Club, Social Welfare Support.

Find out more about our Community Hub Activities on our website at www.theforrie.org/communityhub.

5

THE FLORRIE ART GROUP IN OUR COMMUNITY HUB ROOM

OUR COMMUNITY CYCLING GROUP F oe me

THE WALKING GROUP HEADING OUT FOR THE 24HR WALKATHON i ’ = WAY Biry

THE GARDENING GROUP LOOKING AFTER THE TOMMY BACHE COMMUNITY GARDEN

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Community Hub & Fundraising Highlights

7

“who would of thought playing guitar could make such a difference. Its changed my life!”

Florrie Guitar

Members range from ages 7yrs to 86yrs, this family shared activity started in 2016 and to date over 1500 people have been part of the group, learning guitar, teaching each other, playing together. With three generations of one family taking part, one of the highlights this year was playing not once but three times at St. Georges Hall. People from all over the city were invited to play guitar together with some of Liverpool’s best musicians. In total over 1400 people got to experience playing guitar at the amazing St Georges Hall.

Florrie Guitar takes place every Tuesday, led by Community Hub Co-ordinater Timo, it is free and open to anyone to come along.

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“I love it, I never left the house for
2 yrs before coming The Florrie”
Sin +t 2a
Te ees ee
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Florence & The Ukes

Led by our wonderful volunteer Helen, the Ukulele Group meet every Friday at The Florrie, again, it is free to join and a great way to meet new friends and learn a new skill.

Not only do the Ukes enjoy practising and playing together they support the Florrie and other charities and community organisations around the City such as Everton In The Community and like the guitar group, continue to fundraise while being part of something quiet magical.

Florence and The Ukes practice every Friday morning, its free and open to anyone to come along.

8

THIS YEAR IN NUMBERS:

9

Community Fundraising

Community fundraising and commercial events allows us to keep all of our Community Hub activities FREE - The Florrie currently does not receive any grant to support the running costs of our community activities.

Ricky & Sue Take a Trip or Two:

In February this year we showcased a sold out premier of an LA Productions show ‘Ricky & Sue Take a Trip or Two, hosted by our patron Ricky Tomlinson and raised over £1000 for the charity.

Marshalls FC Kits:

Marshalls FC are based at Heron Eccles in South Liverpool. They have over 600 children on their books who attend regular training and competitive matches. David Hoare has been coming the Florrie Guitar Group for over 6 years and manages the under 11’s team. After arranging a number of food collections at their training grounds both himself and the other managers thought it was a good idea to skip the usual sponsorship money that the club receives and use The Florries logo and Mens Walk logo on their shirts as well as presenting us with their shirt at their end of season event in June 2024

Sefton Park Rangers:

Sefton Park Rangers was started and managed by Jake Nolan. Set up as a Community Football team for men’s mental health and to give everyone an opportunity. The Club has gone from strength to strength and has a number of teams competing in different leagues as well as a women’s team. SPR has run a number of fundraising events to support the Florrie such as running the length of Liverpool to Amsterdam and in June held their end of season party as a fundraiser for The Florrie.

Keep The City Clean:

Walk Florrie have a ‘keep the city clean’ campaign at the end of every month where the group take litter pickers and refuse bags around the L8 area and beyond and pick up litter while walking.

Christmas Food & Toy Appeal:

Our Christmas appeal had huge support with people and organisations from around the city dropping off donations of food and toys. Helping us support families over the Christmas period.

10

Health & Well Being:

94% of beneficiaries taking part in Community Hub activities reported a positive outcome or improvement in physical or mental health and wellbeing, social isolation or loneliness, economic improvement, feeling safer in their community, gaining new skills, volunteering, feeling part of a community.

Employment & Training

We formed working partnerships with recruitment and employment agencies, resulting in 16 people directly gaining employment from this intervention and support, a further six men from Walk Florrie also gained employment.

Social, Welfare & Cost of Living Support

Community fundraising contributes to the employment of a Welfare Support Officer to assist people with issues such as DWP claims and housing support. We are able to employ a counsellor who supports men’s mental health. As part of our Community fundraising we have supported over 50 families with household support items such as white goods and other living costs that have affected them directly because of the cost of living crisis.

Utilities Support

Alongside our local councillors we supported over 500 local people to access the household support fund, up to £250 towards their utility bills.

Walk Florrie

As part of Walk Florrie we have supplied waterproof coats and walking boots to 20 men. Through a donor who does not want any publicity we have given away over 40 pairs of Nike trainers, tracksuits and winter coats.

Defibrillator

We had our life saving defibrillator installed by the fantastic Oliver King Foundation thank to support from Bongo’s Bingo who funded the defibrillator & training for our staff.

11

Tommy Bache Community Garden

The Tommy Bache Community Garden is a tranquil beautiful outdoor space, lovingly maintained by our army of volunteer gardeners, led by volunteer Kirsty. The garden is an edible garden and they have produced several harvests this year, all shared with the local community.

24hr Walkathon

Our first 24-hour walkathon in 2023 was set up in conjunction with World Men’s Mental Health Day to raise awareness of men’s mental health and in some small way try to end the stigma that men don’t talk. As a group the men walked a grand total of 400 miles over the 24-hour period, with some famous faces joining the walk along the way.

The Florrie Community Land Trust

Our strategic plans as a Community Land Trust are to acquire and steward three parcels of land through the LCC Community Asset Land transfer process, for the long-term benefit of our community. Our proposed scheme would see a new affordable, quality housing development across the three sites and would result in the creation of new homes and new managed work space units, dedicated green open spaces, private and public gardens across all three sites and a public civic courtyard space that is central to the three sites being united as one whole development directly surrounding The Florrie Grade II Listed building. At the time of writing we have submitted a pre-planning application to LCC and are are preparing our business plan for submission as part of the Asset Land Transfer process.

CLT DIRECTORS & MEMBERS WITH CLLR. SARAH DOYLE

12

Opened 19th April 2024 by MP Kim Johnson

The Basement Youth Activities at The Florrie

As part of our long term planning for children, we have re-purposed our basement area into a dedicated youth zone.

With capital investment from the Youth Investment Fund, ‘The Basement’ is a brand new facility consisting of a radio/recording studio, a games room and a state of the art cinema. In its first three months of opening the new facility has been visited by five local schools and nurseries, other community and youth centres.

Dingle and Granby Children’s Centre deliver their activities from here three days per week and our after school youth offer delivers activities a further three evenings a week (Tuesday, Wednesday, Thursday 5pm-7pm).

Revenue funding for the Basement Co-ordinator and two part-time youth workers is only secured for 12 months (April 24-March 25). The priority for us this year is to safeguard the delivery of services for children in our new facility by securing additional funding for salary and running costs for The Basement.

Find out more about our Youth Activities on our website at www.theforrie.org/youth. ~~CO~~

Although The Basement children’s facility opened in April 2024, the refurbishment, part financial spend and completion all took place before end March 2024 and is reflected in this years annual accounts.

Impact and usage will be evidenced in the 2024/25 AGM report, as per our grant conditions.

13

YOUNG PEOPLE PLAYING TABLE TENNIS IN THE GAMES ROOM

A SCHOOL GROUP USING THE FLORRIE CINEMA

READING ABOUT THE HISTORY OF THE FLORRIE ON OUR TIMELINE

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Trade, Commercial & Events

2023/24 has produced our best year on record for booking commercial events and generating unrestricted income that supports the charities running costs and objectives. We’ve managed to achieve this through:

Regardless of this, venue hire throughout Merseyside remains competitive and we have saw a significant decrease in enquiries via our website events-hire enquiry form. To counteract this, we recently appointed a freelance SEO (Search Engine Optimisation) specialist to address our internet / Google rankings, which we’ll receive regular monthly reports on for our latest positioning on all relevant keywords & phrases. Furthermore, we’ve managed to retain long-term contracts and repeat / block bookings from the NHS, Merseycare, Food for Thought, LCC, Team Teach, City Region Combined Authority, Alder Hey Hospital and many more.

15

Amongst our Corporate bookings was some standout events that included:

Going forward, we will reintroduce The Florrie’s annual events, but in order to do this effectively, we must strip back our offer on our corporate events and reduce the number delivered massively.

To offset this deficit, we will apply for external funding & grants, which will include:

Laurence Fenlon

COO

16

THE CHARITY COMMISSION ANNUAL CONFERENCE

THE IRISH IN BRITAIN EXHIBITION

LIQUIDATION’S 30BIRTHDAY PARTY/GIG[TH] 4 ’ J Fy ' id ¢ : y | oe om re 5 s J I, r "S eyips ? ot a “£? Li A AN) SOs ee a gS ARE rr ested =f r v5 17

Media & Marketing

This year, we produced diverse marketing content for our events and services, including posters, videos, radio broadcasts, and other printed materials.

We promoted initiatives such as Community Hub Activities, hire spaces, weddings, The Florrie Community Shop, Open Mic Nights, and events featuring Ricky Tomlinson & LFC legends. A major highlight was our marketing for the Big Guitar Ins, which filled St. George's Hall twice.

We received extensive media coverage from outlets like The Liverpool Echo, BBC, ITV, Times Radio, and local news sites. Our events and activities were well-documented on our website and social media, with digital and physical archives of posters and photos.

In 2023-2024 our website attracted 22,000 users and 62,000 page views, mainly from organic search and direct traffic. The archive and art shop saw strong engagement.

On social media, The Florrie achieved nearly 1.5 million Twitter impressions, over 1.4 million on Facebook and Instagram, and 19,000 YouTube views with a reach of 233,300. Overall, we reached 2.3 million people online.

Florrie Radio

Florrie Radio had an outstanding 2023/24, welcoming new volunteers and launching new shows like "The Right Track – Northern Soul & Motown" and "Mark & Vic’s Eclectic Mix." We averaged 2,300 monthly listeners, totalling 5,728.85 listening hours, with significant growth in the latter half. On Mixcloud, we had 11,056 minutes listened.

We partnered with Mellowtone Records to showcase local artists, hosted live sessions, and collaborated with Africa Oye to promote their festival. Our main playlist featured 10-20 new artists monthly, and we live-streamed events like The Big Guitar Ins at St. George's Hall.

To sustain growth, we are seeking new funding sources, including grants, sponsorship, and listener donations. Thanks to our volunteers, listeners, and community, Florrie Radio thrives. With our new studio and upcoming shows, we anticipate another exciting year.

Learn more at www.theforrie.org/forrieradio.

18

MARSHALLS FC AT ONE OF ~~ee~~ THEIR FOOD COLLECTIONS

RICKY & SUE TAKE A TRIP OR TWO PREMIER WITH HOST COLIN MCKEOWN MBE

DEFIBRILLATOR INSTALLATION WITH THE OLIVER KING FOUNDATION

2 REMY & DAN BROADCASTING asd CS Mt er LIVE FROM ST GEORGES HALL Fi Sve arom oI FLORRIERADIE = ne Pain as 19

HOWARD GALE & VOLUNTEER JAMIELA ON FLORRIE RADIO

OLD BOY TOMMY BACHE VISITING ON HIS 85[TH] BIRTHDAY

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SANTA AT THE BLACKBURNE ARMS
CHRISTMAS TOY COLLECTION
LFC LEGENDS ON STAGE AT hy
OUR EUROPEAN STORIES EVENT
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In Memory

In last years AGM report we paid a special tribute to one of our volunteers Bob Unsworth, in which we praised his dedication to volunteering and supporting people here at The Florrie. This year we are sad to report that Bob has passed on.

One of our dear patrons, supporters of The Florrie for many years, including the long campaign to save The Florrie, artist, anarchistic and dear personal friend Jamie Reid also sadly passed on.

Other Florrie members we have sadly lost this year; James Merrill Tony James Joey Pugh

Our love and condolences to all their family and friends. You are all sadly missed by everyone in The Florrie.

JAMIE’S WILD FLOWERS IN BLOOM IN THE COMMUNITY GARDEN

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Trustees: Paul Dickson Christine Hendrick Susanne Osagi Daniel Blunt Kevin McManus Paul Jagota John Welsh Paul Taylor (Trade)

Staff:

Anne Lundon Laurence Fenlon Beverley Forde Tim Tierney Ian Broadhurst Tony Caveney Osman Hassan Kellee Benjamin Tony Chin Caithlin Ellis Paul Foster

The Florence Institute Trust Ltd Email: info@theflorrie.org 377 Mill Street Phone No: 0151 728 2323 Liverpool Company No: 0533085 L8 4RF Charity No: 1109301

REGISTERED COMPANY NUMBER: 5330850 REGISTERED CHARITY NUMBER: 1109301

Report of the Trustees and Financial Statements For The Year Ended 31 March 2024 for The Florence Institute Trust Limited

The Florence Institute Trust Limited

Contents of the Financial Statements for the Year Ended 31 March 2024

Page
Report of the Trustees 1 to 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 9
Independent Examiner’s Report 10
Profit and Loss Account 11

The Florence Institute Trust Limited

Report of the Trustees for the year Ended 31 March 2024

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities'.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

5330850

Registered Charity number

1109301

Registered office

377 Mill Street Dingle Liverpool Merseyside L8 4RF

Trustees

Paul Dickson Christine Hendrick John Welsh Daniel Blunt

STRUCTURE, GOVERNANCE AND MANAGEMENT

Organisation and Administration

The charity is developing and growing its membership. The named Directors are the board of Trustees elected via nomination by the membership the AGM. We employ a team of staff to operationally run and manage The Florrie along with apprentices and volunteers as required.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The charity undertook a review which included a risk analysis and mitigation strategy. Measures have been put in place to manage the identified risks and are being employed and monitored.

OBJECTIVES AND ACTIVITIES

The company was incorporated on 12th January 2005 under the Companies Act 1985, under the terms of the Memorandum and Articles of Association dated 22nd December 2004, and was subsequently registered as a charity in accordance with this governing document on 3rd May 2005.

The objects of the charity are: -

(a) To preserve for the public benefit of the people of the County of Merseyside and of the nation at large, the building known as the Florence Institute on Mill Street in the city of Liverpool ("the Florence Institute") ; and (b) In the interests of social welfare to provide or assist in the provision of facilities for recreation and other leisure time occupation for the public at large with the object of improving their conditions of life; and

Page 1

The Florence Institute Trust Limited

Report of the Trustees for the year ended 31 March 2024

(c) To educate and assist young persons through their leisure time activities so as to develop their physical, mental and spiritual capacities that they may grow to full maturity as individuals and members of society and that their conditions of life may be improved and in furtherance of that object to provide in the Florence Institute from time to time a centre for meetings, lectures, classes and other forms of leisure time occupation for the benefit of young person’s; and

(d) The promotion for the public benefit of urban regeneration in areas of social and economic deprivation (and in particular the district and surrounding area of Liverpool 8) by all or any of the following means

Principal Activity

The company was established to develop plans and pursue with funding application to repair, restore, conserve and convert the building known as The Florence Institute For Boys, Mill Street, Liverpool 8 and manage the same to achieve its objects as stated in its governing document for the aforesaid beneficiaries.

ACHIEVEMENT AND PERFORMANCE

The charity generated a total income of £470,074 and carries forward a healthy surplus of restricted, designated and unrestricted income of £595,195 into new financial year, with £84,304 representing unrestricted funds. This represents free reserves available towards the running costs of the charity. The Annual Accounts are presented to the AGM as a true and accurate record and will be signed off and submitted to the Charity Commission by our accountants.

FINANCIAL REVIEW

Finance: The Statement of Financial Activities shows a net expenditure for the year of £105,005.

The charity carries forward an unrestricted fund of £84,304. This represents free reserves available for the running costs of the charity.

An impairment review on the freehold property was carried out by the trustees in 2019 and the building was valued at £412,000. The restricted fund balance was £826,068 which represents this building valuation along with restricted grants received and not yet spent. These are not free reserves and do not represent cash in the bank.

Reserves policy

It is the intention of the charity to ensure that once the charity achieves sustainability via its activities, that a surplus of income over expenditure be achieved. The objective of the charity is to be in a position to procure up to 1/4 annual running costs which would be held and sustained in a reserves account.

Page 2

The Florence Institute Trust Limited

Report of the Trustees for the year ended 31 March 2024

FUTURE DEVELOPMENTS

Ensuring sustainability is still the key driver for 2024/25, building up the staff core team and securing salary for new posts to develop our marketing strategy, a youth/development worker in order to continue to engage young people in our activities and training programmes and a new Events Manger and Commercial Manager to oversee and support the CEO in the strategic direction and income generation of the Florrie activities.

We are moving forward with the Conservation Maintenance Programme to preserve the heritage asset and promote the Florrie as an exemplar of outstanding community led regeneration is an ongoing outcome that is the golden thread of everything we do here at the Florrie.

The Florrie belongs to everyone and we will always work to ensure it remains open to all members of the community offering a multitude of free services to adults, children, young people and community groups.

Public Benefit

The Trustees have considered the Charities Commissions’ guidance on public benefit in the shaping of its mission and the planning of the Florence Institute Trust’s activities for the year.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the directors should follow best practice and:

The trustees are responsible for maintaining proper 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. The trustees 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.

This report has been prepared in accordance with the Statement of Recommended Practice, “Accounting and Reporting by Charities” and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

............................................. Christine Hendrick - Trustee

Date:

Page 3

The Florence Institute Trust Limited

Statement of Financial Activities for the year ended 31 March 2024

Unrestricted
funds
Notes
£
INCOMING RESOURCES
Incoming resources from generated funds
Voluntary income
3
159,622
Investment income
3,500
Activities for generating funds
50,212
Total incoming resources
213,334
RESOURCES EXPENDED
Costs of generating funds
Costs of generating voluntary income
4
1,038
Charitable activities
5
212,296
Governance costs
6
-
Total resources expended
213,334
NET INCOMING RESOURCES
-
RECONCILIATION OF FUNDS
Total funds brought forward
84,306
TOTAL FUNDS CARRIED FORWARD
84,306		 Restricted
funds
£
581,789
-
-
581,789
-
362,914
34,783
397,697
184,092
826,068
1,010,160		 2024
Total
funds
£
741,411
3,500
50,212
795,123
1,038
575,210
34,783
611,031
184,092
910,374
1,094,466		 2023
Total
Funds
£
413,140
825
56,109
470,074
2,440
539,865
32,774
575,079
(105,005)
1,015,379
910,374

Movements in funds are disclosed in Note 12 to the financial statements.

DESIGNATED AND ENDOWMENT FUNDS

The charity had no designated or endowment funds in either the current year or the previous year.

The notes form part of these financial statements.

Page 4

The Florence Institute Trust Limited

Balance Sheet At 31 March 2024

Designated/
Unrestricted
Restricted
funds
funds
Notes
£
£
FIXED ASSETS
Tangible assets
8
-
706,366
Investments
9
1
-
1
706,366
CURRENT ASSETS
Cash in hand
-
731,119
Debtors
10
84,305
11,607
CREDITORS
Amounts falling due within one year
11
-
(336,632)
FUNDS
Unrestricted funds
Restricted funds
TOTAL FUNDS
NET CURRENT ASSETS
84,305
406,094
TOTAL ASSETS LESS CURRENT
LIABILITIES
84,306
1,112,462
CREDITORS:Amounts falling due
after more than one year
12
-
(102,301)
NET ASSETS
84,306
1,010,160		 2024
Total
Funds
£
706,366
1
706,367
731,119
95,913
(336,632)
84,306
1,010,160
1,094,466
490,400
1,196,767
(102,301)
1,094,466		 2023
Total
Funds
£
448,650
1
448,651
555,778
89,619
(50,202)
84,306
826,068
910,374
595,195
1,043,846
(133,472)
910,374

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

The financial statements were approved by the Board of Directors on 19 July 2024 and were signed on its behalf by:

........................................................................ Christine Hendricks – Director

The notes form part of these financial statements.

Page 5

The Florence Institute Trust Limited

Notes to the Financial Statements for the year ended 31 March 2024

1. STATUTORY INFORMATION

The Florence Institute Trust Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Accounting convention

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. The financial statements have been prepared under the historical cost convention.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Tangible fixed assets are originally measured at cost

Freehold property is subject to regular impairment reviews and depreciation is provided accordingly.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Page 6

The Florence Institute Trust Limited Notes to the Financial Statements - continued for the year ended 31 March 2024

3. VOLUNTARY INCOME

2024
£
Grants
National Heritage Lottery Funding
64,606
National Lottery Community Fund
54,100
Liverpool City Council
5,533
Mayor’s Fund
-
Long Covid
-
Community Hub
8,250
Public Health
-
Community Foundation Liverpool
-
Garfield and Weston
-
Morgan Foundation
6,000
Workers Educational Association
19,870
Citizen Advice – Food Union
7,857
Youth Investment Fund
404,873
CAF Resilience Fund
-
MPAC
-
Granby Toxteth Development Trust
5,000
LCVS
-
Red Touch Media
-
Nespresso Fund
5,000
Torus Foundation
700
Other grants
-
Donations
159,622
Trading company profit donated
-
741,411
4.
COSTS OF GENERATING VOLUNTARY INCOME
2024
£
Telephone & IT
438
Travelling and volunteer expenses
-
Publicity and promotions
600
1,038
5.
BREAKDOWN OF COSTS OF CHARITABLE ACTIVITIES
Direct costs
Support costs
£
£
Running costs of the building
133,729
36,711
Activities for community benefit
335,312
69,459
469,041
106,170		 2024
£
64,606
54,100
5,533
-
-
8,250
-
-
-
6,000
19,870
7,857
404,873
-
-
5,000
-
-
5,000
700
-
159,622
-
741,411
2024
£		 2024
£
64,606
54,100
5,533
-
-
8,250
-
-
-
6,000
19,870
7,857
404,873
-
-
5,000
-
-
5,000
700
-
159,622
-
741,411
2024
£		 2023
£
-
44,000
-
6,300
63,300
16,500
26,000
2,000
30,000
11,000
19,370
32,973
12,827
2,500
6,500
3,000
29,500
4,998
-
-
250
73,703
28,599
413,140
2023
£
438 285

Page 7

The Florence Institute Trust Limited Notes to the Financial Statements - continued for the year ended 31 March 2024

6. GOVERNANCE COSTS

Wages and salaries 2024
£
34,783
34,783		 2023
£
32,774
32,774

7. TRUSTEES' REMUNERATION AND BENEFITS

There was no trustees' remuneration or other benefits for the year ending 31 March 2024, nor for the period ended 31 March 2023.

8. TANGIBLE FIXED ASSETS

COST:
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION:
At 1 April 2023
Charge for year
At 31 March 2024
NET BOOK VALUES:
At 31 March 2024
At 31 March 2023		 Improvements Fixtures, Fittings
to Property & Motor Vehicles
£
£
6,306,020
136,998
284,139
-
6,590,159
136,998
5,894,020
100,348
14,207
12,216
5,908,227
112,564
681,932
24,434
412,000
36,650		 Total
£
6,443,018
284,139
6,727,157
5,994,368
26,423
6,020,791
706,366
448,650

The charity has acquired the Florence Institute for Boys freehold property from the Duchy of Lancaster for no cost.

The trustees have carried out an impairment review on the freehold property and value it at £412,000.

9. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

Page 8

The Florence Institute Trust Limited Notes to the Financial Statements - continued for the year ended 31 March 2024

10.
DEBTORS
2024
2023
£
£
Trade debtors
9,831
1,371
Amounts owed by group undertakings
84,305
84,305
Other debtors
1,777
3,943
95,913
89,619
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Trade creditors
3,860
21,451
Taxation and social security
334
5,308
Grants received in advance
308,994
-
Loans falling due within 1 year
23,444
23,444
336,632
50,203
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Loans falling due after more than one year
102,301
133,472
13.
MOVEMENT IN FUNDS
At 1.4.23
Net
movement in
funds
At 31.3.24
£
£
£
Unrestricted funds
General fund
84,306
-
84,306
Restricted funds
Restricted fund
826,068
184,092
1,010,160
TOTAL FUNDS
910,374
184,092
910,374
Net movement in funds, included in the above are as follows:
Incoming
Resources
Resources
Expended
Movement in
funds
£
£
£
Unrestricted funds
General fund
213,334
213,334
-
Restricted funds
Restricted fund
581,789
397,697
184,092
TOTAL FUNDS
795,123
611,031
184,092		 10.
DEBTORS
2024
2023
£
£
Trade debtors
9,831
1,371
Amounts owed by group undertakings
84,305
84,305
Other debtors
1,777
3,943
95,913
89,619
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Trade creditors
3,860
21,451
Taxation and social security
334
5,308
Grants received in advance
308,994
-
Loans falling due within 1 year
23,444
23,444
336,632
50,203
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Loans falling due after more than one year
102,301
133,472
13.
MOVEMENT IN FUNDS
At 1.4.23
Net
movement in
funds
At 31.3.24
£
£
£
Unrestricted funds
General fund
84,306
-
84,306
Restricted funds
Restricted fund
826,068
184,092
1,010,160
TOTAL FUNDS
910,374
184,092
910,374
Net movement in funds, included in the above are as follows:
Incoming
Resources
Resources
Expended
Movement in
funds
£
£
£
Unrestricted funds
General fund
213,334
213,334
-
Restricted funds
Restricted fund
581,789
397,697
184,092
TOTAL FUNDS
795,123
611,031
184,092		 10.
DEBTORS
2024
2023
£
£
Trade debtors
9,831
1,371
Amounts owed by group undertakings
84,305
84,305
Other debtors
1,777
3,943
95,913
89,619
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Trade creditors
3,860
21,451
Taxation and social security
334
5,308
Grants received in advance
308,994
-
Loans falling due within 1 year
23,444
23,444
336,632
50,203
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Loans falling due after more than one year
102,301
133,472
13.
MOVEMENT IN FUNDS
At 1.4.23
Net
movement in
funds
At 31.3.24
£
£
£
Unrestricted funds
General fund
84,306
-
84,306
Restricted funds
Restricted fund
826,068
184,092
1,010,160
TOTAL FUNDS
910,374
184,092
910,374
Net movement in funds, included in the above are as follows:
Incoming
Resources
Resources
Expended
Movement in
funds
£
£
£
Unrestricted funds
General fund
213,334
213,334
-
Restricted funds
Restricted fund
581,789
397,697
184,092
TOTAL FUNDS
795,123
611,031
184,092		 10.
DEBTORS
2024
2023
£
£
Trade debtors
9,831
1,371
Amounts owed by group undertakings
84,305
84,305
Other debtors
1,777
3,943
95,913
89,619
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Trade creditors
3,860
21,451
Taxation and social security
334
5,308
Grants received in advance
308,994
-
Loans falling due within 1 year
23,444
23,444
336,632
50,203
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Loans falling due after more than one year
102,301
133,472
13.
MOVEMENT IN FUNDS
At 1.4.23
Net
movement in
funds
At 31.3.24
£
£
£
Unrestricted funds
General fund
84,306
-
84,306
Restricted funds
Restricted fund
826,068
184,092
1,010,160
TOTAL FUNDS
910,374
184,092
910,374
Net movement in funds, included in the above are as follows:
Incoming
Resources
Resources
Expended
Movement in
funds
£
£
£
Unrestricted funds
General fund
213,334
213,334
-
Restricted funds
Restricted fund
581,789
397,697
184,092
TOTAL FUNDS
795,123
611,031
184,092
795,123 611,031 184,092

Page 9

Independent Examiner's Report to the Trustees of The Florence Institute Trust Limited

Independent examiner's report to the trustees of The Florence Institute Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company 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 statement

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 records; or

  2. 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

  3. 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

P C Taylor 74 Brook Vale Waterloo Liverpool Merseyside L22 3YB

19th July 2024

Page 10

The Florence Institute Trust Limited

Profit and Loss Account

for the year ended 31 March 2024

2024
£
Income:
Rents received
Café and merchandise sales

Other income:
Grants received
Donations received
Trading company profit donated
Bank interest
Administration costs:
Wages and staff costs
Rates and water
Telephone & IT
Motor expenses
Travelling and volunteer expenses
Publicity and promotion
Computer expenses
Light and heat
Repairs and renewals
Security
Events and activities
Audit and accountancy
Licences and insurance
Legal, professional and consultancy fees
Bank charges
Depreciation of tangible fixed assets
NET SURPLUS/(DEFICIT)		 2023
£
£
50,212
-

50,212
581,789

159,622
-
3,500

795,123

278,781
1,832
4,376
2,643
-
600
177
77,727
17,659
3,993
178,822
526
15,702
1,610
160
26,423
611,031
184,092
 £
55,808
301
56,109
310,838
73,703
28,599
825
470,074
256,868
2,522
2,850
4,936
3,187
561
233
44,561
19,286
4,477
204,600
1,173
16,628
828
153
12,216
575,079
(105,005)

This page does not form part of the statutory financial statements

Page 11

Independent Examiner's Report to the Trustees of The Florence Institute Trust Limited

Independent examiner's report to the trustees of The Florence Institute Trust Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company 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 statement

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 records; or

  2. 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

  3. 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

P C Taylor 74 Brook Vale Waterloo Liverpool Merseyside L22 3YB

19th July 2024

Page 10