2021-03-31-accounts - Learning For Life Wiltshire

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REGISTERED CHARITY NUMBER: 1112304

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2021

for

Learning for Life

Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA

Learning for Life

Contents of the Financial Statements for the Year Ended 31 March 2021

		Page
Report of the Trustees		1
Independent Examiner's Report		2
Statement of Financial Activities		3
Balance Sheet		4
Notes to the Financial Statements	5	to	9
Detailed Statement of Financial Activities		10

Learning for Life

Report of the Trustees for the Year Ended 31 March 2021

The trustees present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity aims to advance the education of people with disabilities, and carers, particularly, but not exclusively, in basic life and work skills.

FINANCIAL REVIEW

Reserves policy

The trustees' medium term aim is to reduce financial liabilities and begin to build up unrestricted reserves at a level sufficient to continue core activities for at least two months, which would also provide for costs incurred in the event of closure, including redundancy costs.

FUTURE PLANS

lloyds Bank Foundation has awarded Learning for Life three year funding of £75000 from April 2018 as a contribution towards advisors and operating costs.

This enables the charity to operate with a three year financial plan to focus on returning to a surplus, providing significant future financial stability and ensure project sustainability.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1112304

Principal address

Plaza 21 Sanford Street Swindon Wiltshire SN1 1HE

Trustees

D Reeves H Cannon M Parfitt

Independent Examiner

Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA

Approved by order of the board of trustees on 28 January 2022 and signed on its behalf by:

D Reeves - Trustee

Independent Examiner's Report to the Trustees of Learning for Life

Independent examiner's report to the trustees of Learning for Life

I report to the charity trustees on my examination of the accounts of Learning for Life (the Trust) for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Christopher Vaughan Institute of Chartered Accountants in England and Wales Chris Vaughan Accountants 195 Ermin Street Swindon Wiltshire SN3 4NA

28 January 2022

Learning for Life

Statement of Financial Activities for the Year Ended 31 March 2021

Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 123,516 Other trading activities 2 582 Investment income 3 1 Other income 1,849 Total 125,948 EXPENDITURE ON Charitable activities Client services 86,341 NET INCOME/(EXPENDITURE) 39,607 RECONCILIATION OF FUNDS Total funds brought forward 929 TOTAL FUNDS CARRIED FORWARD 40,536	Restricted funds £ - - - - - 767 (767) 1,534 767	31.3.21 Total funds £ 123,516 582 1 1,849 125,948 87,108 38,840 2,463 41,303	31.3.20 Total funds £ 29,122 - - 2,475 31,597 32,896 (1,299) 3,762 2,463

The notes form part of these financial statements

Learning for Life

Balance Sheet

31 March 2021

					31.3.21	31.3.20
		Unrestricted	Restricted		Total	Total
		fund	funds		funds	funds
	Notes	£	£		£	£
FIXED ASSETS
Tangible assets	7	6,015	767		6,782	8,610
CURRENT ASSETS
Cash at bank		34,971		-	34,971	-
CREDITORS
Amounts falling due within one year	8	(450)		-	(450)	(6,147)
NET CURRENT ASSETS		34,521		-	34,521	(6,147)
TOTAL ASSETS LESS CURRENT
LIABILITIES		40,536	767		41,303	2,463
NET ASSETS		40,536	767		41,303	2,463
FUNDS	10
Unrestricted funds					40,536	929
Restricted funds					767	1,534
TOTAL FUNDS					41,303	2,463

The financial statements were approved by the Board of Trustees and authorised for issue on 28 January 2022 and were signed on its behalf by:

D Reeves - Trustee

The notes form part of these financial statements

Learning for Life

Notes to the Financial Statements for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. 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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on cost and 15% on reducing balance

Taxation

The charity is exempt from 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.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. OTHER TRADING ACTIVITIES

OTHER TRADING ACTIVITIES
	31.3.21	31.3.20
	£	£
Fundraising events	582		-

continued...

Learning for Life Notes to the Financial Statements - continued for the Year Ended 31 March 2021

3. INVESTMENT INCOME

----- Start of picture text -----
31.3.21 31.3.20
£ £
Deposit account interest 1 -
----- End of picture text -----

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

6.

Administration No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 250 Other income 2,475 Total 2,725 EXPENDITURE ON Charitable activities Client services 3,257 NET INCOME/(EXPENDITURE) (532) RECONCILIATION OF FUNDS Total funds brought forward 1,461 TOTAL FUNDS CARRIED FORWARD 929	31.3.21 1 Restricted funds £ 28,872 - 28,872 29,639 (767) 2,301 1,534	31.3.20 1 Total funds £ 29,122 2,475 31,597 32,896 (1,299) 3,762 2,463

continued...

Learning for Life

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

7.	TANGIBLE FIXED ASSETS
					Fixtures
					and
					fittings
					£
	COST
	At 1 April 2020 and 31 March 2021				29,630
	DEPRECIATION
	At 1 April 2020				21,020
	Charge for year				1,828
	At 31 March 2021				22,848
	NET BOOK VALUE
	At 31 March 2021				6,782
	At 31 March 2020				8,610
8.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
			31.3.21		31.3.20
			£		£
	Bank loans and overdrafts (see note 9)			-	105
	Other creditors		450		6,042
			450		6,147
9.	LOANS
	An analysis of the maturity of loans is given below:
			31.3.21		31.3.20
			£		£
	Amounts falling due within one year on demand:
	Bank overdrafts			-	105
10.	MOVEMENT IN FUNDS
			Net
			movement		At
	At	1.4.20	in funds		31.3.21
		£	£		£
	Unrestricted funds
	General fund	929	39,607		40,536
	Restricted funds
	Lloyds Bank	1,534	(767)		767
	TOTAL FUNDS	2,463	38,840		41,303

continued...

Learning for Life

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

10. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
125,948
Restricted funds
Lloyds Bank
-
TOTAL FUNDS
125,948
Comparatives for movement in funds
At 1.4.19
£
Unrestricted funds
General fund
1,461
Restricted funds
Lloyds Bank
2,301
TOTAL FUNDS
3,762
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
2,725
Restricted funds
Zurich Community Trust
3,872
Lloyds Bank
25,000
28,872
TOTAL FUNDS
31,597

Resources
Movement
expended
in funds
£
£
(86,341)
39,607
(767)
(767)
(87,108)
38,840
Net
movement
At
in funds
31.3.20
£
£
(532)
929
(767)
1,534
(1,299)
2,463
Resources
Movement
expended
in funds
£
£
(3,257)
(532)
(3,872)
-
(25,767)
(767)
(29,639)
(767)
(32,896)
(1,299)

continued...

Learning for Life

Notes to the Financial Statements - continued for the Year Ended 31 March 2021

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

		Net
		movement	At
	At 1.4.19	in funds	31.3.21
	£	£	£
Unrestricted funds
General fund	1,461	39,075	40,536
Restricted funds
Lloyds Bank	2,301	(1,534)	767
TOTAL FUNDS	3,762	37,541	41,303

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds General fund Restricted funds Zurich Community Trust Lloyds Bank TOTAL FUNDS	Incoming resources £ 128,673 3,872 25,000 28,872 157,545	Resources Movement expended in funds £ £ (89,598) 39,075 (3,872) - (26,534) (1,534) (30,406) (1,534) (120,004) 37,541	Resources Movement expended in funds £ £ (89,598) 39,075 (3,872) - (26,534) (1,534) (30,406) (1,534) (120,004) 37,541
			(1,534)
			37,541

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

12. RESTRICTED FUNDS

The charity;s restricted funds are utilised for the following purposes - Lloyds Bank

Contributions to advisors and operating costs

Learning for Life

Detailed Statement of Financial Activities for the Year Ended 31 March 2021

Detailed Statement of Financial Activities for the Year Ended 31 March 2021
	31.3.21	31.3.20
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	4,951	-
Grants	118,565	29,122
	123,516	29,122
Other trading activities
Fundraising events	582	-
Investment income
Deposit account interest	1	-
Other income
Other income	1,849	2,475
Total incoming resources	125,948	31,597
EXPENDITURE
Charitable activities
Wages	12,488	12,500
Rent	30,951	11,286
Insurance	1,466	859
Postage and stationery	1,228	-
Sundries	4,820	805
Tutor fees	19,373	2,305
Travel and subsistence	4,058	1,015
Training and books	2,771	-
Maintenance and cleaning	-	692
Counselling	6,500	-
IAG fees	2,071	-
	85,726	29,462
Support costs
Management
Insurance	733	430
Professional fees	258	688
	991	1,118
Finance
Bank charges	(1,437)	300
Governance costs
Depreciation of tangible fixed assets	1,828	2,016
Total resources expended	87,108	32,896
Net income/(expenditure)	38,840	(1,299)

This page does not form part of the statutory financial statements