REGISTERED CHARITY NUMBER: 1112304
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2022
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 2022
| 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 2022
The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. 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.
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 27 January 2023 and signed on its behalf by:
D Reeves - Trustee
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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 2022.
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
27 January 2023
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Learning for Life
Statement of Financial Activities
for the Year Ended 31 March 2022
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 29,848 Other trading activities 2 970 Investment income 3 1 Other income 3,706 Total 34,525 EXPENDITURE ON Charitable activities Client services 61,303 NET INCOME/(EXPENDITURE) (26,778) RECONCILIATION OF FUNDS Total funds brought forward 40,536 TOTAL FUNDS CARRIED FORWARD 13,758 |
Restricted funds £ 1,361 - - - 1,361 1,108 253 767 1,020 |
31.3.22 Total funds £ 31,209 970 1 3,706 35,886 62,411 (26,525) 41,303 14,778 |
31.3.21 Total funds £ 123,516 582 1 1,849 |
|---|---|---|---|
| 125,948 | |||
| 87,108 38,840 2,463 |
|||
| 41,303 |
The notes form part of these financial statements
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Learning for Life
Balance Sheet
31 March 2022
| 31.3.22 | 31.3.21 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| fund | funds | funds | funds | |||
| Notes | £ | £ | £ | £ | ||
| FIXED ASSETS | ||||||
| Tangible assets | 7 | 7,172 | 1,020 | 8,192 | 6,782 | |
| CURRENT ASSETS | ||||||
| Cash at bank | 6,886 | - | 6,886 | 34,971 | ||
| CREDITORS | ||||||
| Amounts falling due within one year | 8 | (300) | - | (300) | (450) | |
| NET CURRENT ASSETS | 6,586 | - | 6,586 | 34,521 | ||
| TOTAL ASSETS LESS CURRENT | ||||||
| LIABILITIES | 13,758 | 1,020 | 14,778 | 41,303 | ||
| NET ASSETS | 13,758 | 1,020 | 14,778 | 41,303 | ||
| FUNDS | 9 | |||||
| Unrestricted funds | 13,758 | 40,536 | ||||
| Restricted funds | 1,020 | 767 | ||||
| TOTAL FUNDS | 14,778 | 41,303 |
The financial statements were approved by the Board of Trustees and authorised for issue on 27 January 2023 and were signed on its behalf by:
D Reeves - Trustee
The notes form part of these financial statements
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Learning for Life
Notes to the Financial Statements for the Year Ended 31 March 2022
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 | ||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| Fundraising events | 970 | 582 |
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continued...
Learning for Life
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
3. INVESTMENT INCOME
Deposit account interest
----- Start of picture text -----
31.3.22 31.3.21
£ £
1 1
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4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
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 123,516 Other trading activities 582 Investment income 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 |
31.3.22 1 Restricted funds £ - - - - - 767 (767) 1,534 767 |
31.3.21 1 Total funds £ 123,516 582 1 1,849 |
|---|---|---|
| 125,948 | ||
| 87,108 38,840 2,463 |
||
| 41,303 |
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continued...
Learning for Life
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
7. TANGIBLE FIXED ASSETS
| 7. | TANGIBLE FIXED ASSETS | |||
|---|---|---|---|---|
| Fixtures | ||||
| and | ||||
| fittings | ||||
| £ | ||||
| COST | ||||
| At 1 April 2021 | 29,630 | |||
| Additions | 3,783 | |||
| At 31 March 2022 | 33,413 | |||
| DEPRECIATION | ||||
| At 1 April 2021 | 22,848 | |||
| Charge for year | 2,373 | |||
| At 31 March 2022 | 25,221 | |||
| NET BOOK VALUE | ||||
| At 31 March 2022 | 8,192 | |||
| At 31 March 2021 | 6,782 | |||
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | ||
| 31.3.22 | 31.3.21 | |||
| £ | £ | |||
| Other creditors | 300 | 450 | ||
| 9. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1.4.21 | in funds | 31.3.22 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 40,536 | (26,778) | 13,758 | |
| Restricted funds | ||||
| Lloyds Bank | 767 | 253 | 1,020 | |
| TOTAL FUNDS | 41,303 | (26,525) | 14,778 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 34,525 | (61,303) | (26,778) | |
| Restricted funds | ||||
| Lloyds Bank | 1,361 | (1,108) | 253 | |
| TOTAL FUNDS | 35,886 | (62,411) | (26,525) |
continued...
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Learning for Life
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.20 £ Unrestricted funds General fund 929 Restricted funds Lloyds Bank 1,534 TOTAL FUNDS 2,463 Comparative 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 A current year 12 months and prior year 12 months combined position is as follows: At 1.4.20 £ Unrestricted funds General fund 929 Restricted funds Lloyds Bank 1,534 TOTAL FUNDS 2,463 |
Net movement At in funds 31.3.21 £ £ 39,607 40,536 (767) 767 38,840 41,303 Resources Movement expended in funds £ £ (86,341) 39,607 (767) (767) (87,108) 38,840 Net movement At in funds 31.3.22 £ £ 12,829 13,758 (514) 1,020 12,315 14,778 |
|---|---|
continued...
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Learning for Life
Notes to the Financial Statements - continued for the Year Ended 31 March 2022
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 160,473 | (147,644) | 12,829 |
| Restricted funds | |||
| Lloyds Bank | 1,361 | (1,875) | (514) |
| TOTAL FUNDS | 161,834 | (149,519) | 12,315 |
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
11. RESTRICTED FUNDS
The charity;s restricted funds are utilised for the following purposes - Lloyds Bank
Contributions to advisors and operating costs
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Learning for Life
Detailed Statement of Financial Activities for the Year Ended 31 March 2022
| Detailed Statement of Financial Activities for the Year Ended 31 March 2022 |
||
|---|---|---|
| 31.3.22 | 31.3.21 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 250 | 4,951 |
| Grants | 30,959 | 118,565 |
| 31,209 | 123,516 | |
| Other trading activities | ||
| Fundraising events | 970 | 582 |
| Investment income | ||
| Deposit account interest | 1 | 1 |
| Other income | ||
| Other income | 3,706 | 1,849 |
| Total incoming resources | 35,886 | 125,948 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 12,570 | 12,488 |
| Rent | 16,500 | 30,951 |
| Insurance | 1,278 | 1,466 |
| Postage and stationery | 603 | 1,228 |
| Sundries | 10,169 | 4,820 |
| Tutor fees | 16,120 | 19,373 |
| Travel and subsistence | 18 | 4,058 |
| Training and books | 870 | 2,771 |
| Maintenance and cleaning | (1,625) | - |
| Counselling | - | 6,500 |
| Covid costs | 701 | 2,071 |
| IT Support | 1,798 | - |
| 59,002 | 85,726 | |
| Support costs | ||
| Management | ||
| Insurance | 639 | 733 |
| Professional fees | 300 | 258 |
| 939 | 991 | |
| Finance | ||
| Bank charges | 97 | (1,437) |
| Governance costs | ||
| Depreciation of tangible fixed assets | 2,373 | 1,828 |
| Total resources expended | 62,411 | 87,108 |
| Net (expenditure)/income | (26,525) | 38,840 |
This page does not form part of the statutory financial statements
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