**Charity registration number 1112830** **Company registration number 03854479 (England and Wales)** ## **RAISE LIMITED** ## **COMPANY LIMITED BY GUARANTEE** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Mr A Wilson|| |---|---|---| ||Mrs J Guinan (Treasurer)|| ||Mr C Hudson (Chair)|| ||Ms D McAndrew|(Appointed 20 October 2021)| ||Ms R Stott|(Appointed 11 May 2022)| |**Secretary**|Ms P Brown|| |**Charity number**|1112830|| |**Company number**|03854479|| |**Registered office**|286 Scotland Road|| ||Liverpool|| ||L5 5AE|| |**Independent examiner**|Tony Stanley ACA|| ||BWM|| ||Tempest|| ||Suite 5.1|| ||12 Tithebarn Street|| ||Liverpool|| ||L2 2DT|| |**Bankers**|The Co-operative Bank plc|| ||P O Box 250|| ||Delf House|| ||Southway|| ||Skelmersdale|| ||WN8 6WT|| ||Santander UK PLC|| ||Bridle Road|| ||Bootle|| ||Merseyside|| ||L30 4GB|| ||Aldermore Business Savings|| ||Aldermore Bank|| ||Western House|| ||Lynch Wood|| ||Peterborough|| ||PE2 6FZ|| ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 8| |Statement of trustees' responsibilities|9| |Independent examiner's report|10| |Statement of financial activities|11 - 12| |Balance sheet|13 - 14| |Statement of cash flows|15| |Notes to the accounts|16 - 32| ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ The trustees present their annual report and financial statements for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). ## **About Raise – Background and History** An independent charity founded in 1999, Raise gives much-needed advice on welfare benefits, debt and money management to the people of the Liverpool City Region (LCR) and its hinterlands, including Housing Association tenants. The Team work from offices in Everton and provide in-person and telephone services. But many of our clients are unable to access mainstream Advice Services because of disability, age, caring responsibilities, mental health issues, or isolation. So Raise also works with clients in their own homes, when appropriate. This responsiveness and the flexibility of our service deliver is the key to our success. Over more than 2 decades Raise has transformed itself from a small 'Benefits Advice Team' to a substantial multi-disciplinary organisation with 31 staff members and over 10 regular volunteers (including 4 Board members, at the end of this financial period). Utilising our Triage Team, we ensure that more than 90% of referrals are converted into cases. We prioritise emergencies and focus on those clients who are vulnerable and most in need, especially those who are not able to access mainstream advice services. Raise has established strong long-term partnerships with Housing Associations. The Social Sector houses more vulnerable groups than other sectors (English Housing Survey 2020/2021). Whilst the quality of the housing accommodation is generally better than privately owned or private rented accommodation, (eg energy efficiency), tenants in social sector housing require additional support. The English Housing Survey noted that tenants in social housing were hit with higher job loss or job reduction rates than people from other tenures as a consequence of the pandemic. Also, social housing tenants are less likely to have access to amenities such as the internet, a private outside space, and have lower wellbeing scores than people from other tenures. By supporting Housing Association tenants with debt, welfare and money management advice and guidance, Raise is helping to redress the social and economic inequality. Our Advice and Casework has delivered millions of pounds in extra benefits payments and reduced debts for tenants. Housing Associations are facing huge challenges due to the consequences of the pandemic, the costof-living crisis and the continued impact of Welfare Reform. Raise is committed to work with Housing Associations to support their tenants through a range of services tailored to each individual. This complements the support the Housing Associations provide for their tenants, helps to minimise financial related tenancy issues, and helps to promote successful tenancies. - 1 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **About Raise - vision, mission and values** ## **Our vision** To champion the fight against poverty and inequality enabling people to take control of their lives. ## **Our mission** Providing outstanding specialist services for individuals incorporating benefit advice, representation, debt and money management that are accessible at the point of need and empower people to achieve a better standard of living. ## **Our values statement** **Respect** – We value people by adopting a non-judgmental approach alongside recognising the strengths of others and being committed to working in partnership. **Accessible** – We deliver services that are adaptable and free to clients at their point of need whilst embracing equality, diversity and basic human rights for all. **Independent** – How we interact with others is authentic and real to whom we are as an organisation. **Support** – We are client focused and deliver services that demonstrate empathy with clients along their journey with Raise. **Excellence** – Everything Raise creates and delivers is of a standard that we feel proud of. **Confidentiality** – We respect every individual’s personal information and circumstance and act professionally to protect this. ## **Our Strategic Aims are:** **Strategic Aim 1** : To ensure the organisation is well governed, well managed and fit for purpose. **Strategic Aim 2:** To create sustainability and resilience that will enable Raise to continue delivering services. **Strategic Aim 3:** To create a greater awareness of the organisation and its services. **Strategic Aim 4** : To continue to explore, design and deliver services that are fit for purpose and meet the needs of all stakeholders. Under theses Aims sits an Operation Plan which details the short, medium and long term milestones. Each year the Board of Trustees meet to agree the milestones which will take priority for that year and they become the organisation's annual objectives. The Chief Officer reports quarterly on the progress made towards these objectives. In order to support the organisation's annual objectives we have several working groups that meet during the course of the year. - 2 - **RAISE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **Raise Advice Services** ## **Benefits advice** We provide the advice people need for the problems they face within the field of Welfare Benefits at a generalist advice level, for example, benefit checks and benefit form filling (personal independence payment (PIP) and employment and support allowance (ESA), universal credit right through to specialist advice which could start at benefit appeals for tax credits, housing benefit through to appealing a bedroom tax decision in the Upper Tribunal. We help individuals to navigate the complex system, that is now more complicated than ever before due to the changes that Welfare Reform has brought about since 2011. ## **Money advice** We provide a comprehensive money advice service that is licensed by the Financial Conduct Authority. We support people to maximise their income and reduce their debt by advising on their options such as monthly payment plans, debt relief orders and bankruptcy. We provide a caseworker service so that clients feel they are being supported to make the changes they need to ensure ongoing financial sustainability. ## **Financial Capability** We support people to become financially capable and able to confidently navigate the world of money and finance. We help people with basic budgeting, saving and making the most of their money. With so many offers and comparison sites on the market, people do get overwhelmed with different products and services. We can support them to ensure they know the basics and can make shrewd decisions on switching providers and saving. This ultimately leads to greater financial confidence that enables people to make more informed decisions about their financial future. ## **ENABLE team** We support clients to overcome barriers to finding employment, and individually assess their needs to provide bespoke 1:1 support. The Team includes experienced welfare trained caseworkers who can provide free help in getting their benefits on-track, providing Better-Off advice and money management skills and tips. Our experienced Employment and Skills Advisor works individually with clients to identify their learning and skills needs, agree a plan of action and then support them to access free skills training, provide personalised coaching, job search activities, CV advice and interview skills practice. Our experienced Volunteer and Training Co-ordinator supports those who will benefit from volunteering opportunities by delivering bespoke soft-skills and technical skills training to enrich client’s knowledge and capabilities and improve their work related confidence. ## **Information, Training and Support** Our Partner Housing Association staff teams, and other community partners are kept up-to-date by Raise with our monthly Welfare Benefits _Bulletin_ which is emailed directly to a large list of contacts. This informs Partners of welfare benefit changes, how that will affect some clients and what steps can be taken to challenge or manage those changes. We have a Team of Welfare Benefits Specialists who are qualified to deliver welfare benefits training and we work with Housing Association staff teams to ensure they are trained in welfare rights issues, especially those that they have identified as a need or requirement. We meet regularly with Housing Association Partners to ensure that our services, information, training and support is responsive. ## **Hybrid Service Delivery** The organisation made significant changes to its delivery of services as a consequence of the pandemic lockdown from March 2020. Further investment in ITC, including cloud-based systems has ensured that services can be effectively and securely delivered in a range of formats. As the effects of and the management arrangements for the pandemic progressed, this hybrid delivery model proved to be responsive for the clients, but also allowed for Raise to continue to provide services even if Team members were self-isolating. The case management system AdvicePro became more embedded into the organisation. At the end of March the old system was ready to be fully replaced by AdvicePro, although there needed to be a transition period to ensure any live client cases were transferred to the new system. Advice Pro allows for secure case management, and is also a more sophisticated data analysis tool. This allows Raise to draw-out trends and client analysis. - 3 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **Moving forward into 2022/23** We plan to develop our hybrid delivery model further to ensure that our services are fully responsive to clients’ needs. Face-to-face service delivery in client’s homes will return to its full potential in the year. We will also provide regular services in community venues, working closely with our community partners. These together with our telephone and digital services delivery will allow for a fully flexible and responsive suite of service delivery options. We will also work proactively with Housing Associations and community partners to co-develop and co-deliver services and projects. Raise is also committed to ensure that clients are encouraged to assist us to co-develop the services we delivery for them. ## **The value of specialist Advice** The Liverpool Access to Advice Network, of which Raise is a member, highlights that _“the Covid-19 pandemic and the unprecedented cost of living crisis have underlined the importance of the access to, and the value of, advice in people’s everyday lives. Advice limits the impact of negative life events to the short term, rather than worsening over the longer term and leading to multiplying problems. In extreme cases, advice at the right time can save lives”._ ## **Achievements and performance** During 2021/22 our Advice and Casework yielded just over £3m in extra benefits and managed £4m of debts, with almost £400k of debt being written-off. The highest categories for extra benefits were: - Disability Benefits £1,366,852, - Universal Credit £558,829, - Housing Costs £276,513 - Pension Age benefits £348,078. 2021/2202 saw a pause in the Welfare Reform agenda due to Covid-19 and our disability gains had taken a dramatic £2m hit with a 41% reduction. We envisage that 2022/2023 will now move at a pace to see many longterm sick and disabled people facing reassessments of their benefits under tougher tests, stricter sanctions and conditionality for jobseekers. We will see the knock-on effects of halting court action for rent arrears and the move from legacy benefits to Universal Credit (UC) will continue. ## **Referrals and Visits** During 2021-2022 Raise received 2755 referrals, an increase of 4% on 2020-2021 for Welfare Benefits and Money Advice. Between April 2021 and March 2022 we opened 2054 new welfare or debt cases. ## **Client Profile** For the year, our client demographic for ethnicity was made up of 67% white British, 2% white (other) 26% not declared, 3% black or black British African with our other BAME groups making up the remaining 2%. 66% of clients were female, (up from 64%). 50% of clients were aged between 46 and 65. 76% disclosed a disability, a sharp increase from the previous year’s 47%. 60% of clients were unemployed and 17% either selfemployed or working, whilst 11% were retired and 6% were carers. - 4 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **Funders** Our long standing contracting arrangements with Housing Associations continued, and during this year Raise held contracts with; Torus Foundation, Plus Dane, Prima Group, One Vision Housing, Northwest Housing, Onward Housing and Family Housing Association. Additional contracts and funding came from: - The Greater Merseyside Money Advice Partnership funded through the Money and pensions Service (MaPS) - New Horizons funded by the European Social Fund (with The Women’s Organisation as Lead Body) - Better off Finance funded by The Big Lottery Fund and the European Social Fund(with The Women’s Organisation as Lead Body) - Advice Skills Academy by the European Social Fund (with The Women’s Organisation as Lead Body) - Enterprise Hub Skills by the European Social Fund (with The Women’s Organisation as Lead Body) - Skelton Charity - PH Holt Foundation - Liverpool City Council’s Community Resource Unit for our vulnerable @Home advice service - Mencap Liverpool and Sefton - LJMU and Edge Hill funding for student social worker placements - HMCTS through the Good things Foundation for digital appeals support to clients. - Kickstart Scheme ( with The Women’s Organisation and Torus Foundation as Lead Body) - HMRC JRS Grant We would like to thank all our contractors and funders as their contributions mean that we can make positive changes to people’s lives. ## **Financial review** 2021/22 has been a year of change, and adaptation with lingering pandemic restrictions presenting challenges for project delivery. Fully remote working measures from 2020/21 have transformed successfully into hybrid working delivering seamless continuity of service to Raise clients. Income from benefit contracts increased by 26%, +£73.5k in 2021-22, mainly with thanks to an extension of our Torus contract, +87% increase on 2020-21 +£64k, Onward Housing also re-contracted with Raise on a Pay-asyou-go basis from December 2021 bringing in £12k over the last quarter. Raise has welcomed inflationary increases to existing contracts. 2021-22 was a good year for income generation with most of the delayed project start dates and postponed income from the previous year coming to fruition. Raise succeeded in replacing short-term emergency grants which helped Raise through the difficult lockdown period, with longer term funding. Emergency Covid-19 grants from the previous year, approx. £131k in 2020-21, were replaced in part by ESF funding streams with both ASA (Advice Skills Academy) and EHS (Enterprise Hub Skills) contributing to a total income increase of £100.5k from ESF funding. Other grant income also increased by £25.5k; contributed to by the GMMAP Increased Capacity Grant, Kickstart Scheme placements and Grants from The Skelton Charity, and PH Holt Foundation. Income generation in 2021-22 enabled grant income to be maintained at a comparable level to the previous year. Income from the University of Liverpool and Edge Hill University also increased by £3.7k with Raise taking on more Social Work placements in 2021-22, bouncing back from reductions seen in the previous year. Savings on expenditure experienced in 2020-21 due to the pandemic are on their way to establishing new norms with hybrid working and adaptive measures altering expenditure trends of pre-Covid-19 periods. Non-salary revenue expenditure has increased by 20%, +£17.8k, impacted by increased IT costs including the client management system; £11.3k of the increase. Payroll has increased in line with recruitment from the latter half of 2020-21 servicing the four ESF Projects. - 5 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ Raise also said farewell to Chief Officer Emma Cook and welcomed Penny Brown to Raise as the new CEO. So far 2022-23 looks like another transitional year for Raise, adapting to changes in income, a busy year for income generation that Raise will overcome to find a stronger and sustainable structure following the challenges of the last two years. Raise would like to thank existing funders as well as HMCTS, PH Holt Foundation, and The Skelton Charity for their support during the year. All our funders enable Raise to reach the most vulnerable and relieve the hardship of our clients. ## **Reserves policy** At 31 March 2022 the unrestricted designated reserves were £176,990 (2021: £176,990), restricted reserves were £762 (2021: £1,526) and unrestricted free reserves of £70,788 (2021: £88,310). This gives a reserve value of £248,540 at 31 March 2022. ## **Unrestricted reserve** The trustees believe that Raise should hold financial reserves in order to ensure that the charity can continue to operate and meet the needs of clients in the event of unforeseen and potentially financially damaging circumstances arising. This would also include the cost of our redundancy liability should the charity cease to operate or reduce its activities. ## **Designated reserves** The trustees consider that it would be prudent to set aside an amount for ‘flexible reserves’. This could be used for: - the purpose of restructuring the service - meeting unforeseen expenditure - maintaining the charity’s asset base in good order through provision for upgrades and replacement - for use in an emergency if Raise operated at a deficit - moving cost if Raise were to relocate - subject to Board approval, to fund a project that would enable Raise to assist people with financial needs not covered by current funders The Trustees regularly review the current activity to ensure sufficient reserves are held for delivery, and business plans incorporate a review to ensure adequacy and modest growth. ## **Restricted reserves** The following funds; BBO; New Horizons; ASA; EHS; CRG (also known as LCC); GMMAP; The Clothworkers’ Foundation; North West Housing; JRS Grant; HMCTS; Kickstart; PH Holt Foundation; Skelton Charity are restricted by the donor or funder and cannot be used for the general purposes of the bureau. Their existence, and the sums of money therein, do not imply that there has been an underspend but may result from a variety of circumstances including timing differences between Raise's financial year and the funding year of the project concerned. ## Review This reserves policy is monitored and reviewed by the trustees annually - 6 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **Risk policy** In accordance with the guidelines set down by the Charity Commission, the Board of Trustees have considered and identified the governance, operational, financial, external and compliance risks to which the charity is exposed and have taken measures to mitigate any risks identified. The Board will look to strengthen the organisations business continuity and disaster recovery policies but are pleased with how the organisation was able to adapt the service during the pandemic. The trustees are satisfied that systems are in place to mitigate exposure to the major risks. The trustees have adopted the Charity Commission’s heat map method of risk analysis, with scores 1-7 being green, 8-14 being amber and 15-30 being red, the policy states that amber risks will be regularly reviewed and that red risks will be dealt with immediately. The biggest risk to Raise is the loss of housing association funding due to housing associations taking services in-house. Existing management of this risk includes promoting the value of the welfare rights and debt services to rent collection, participation in housing associations’ Welfare Reform group, diversifying funding streams by applying for appropriate funding opportunities and having a flexible approach to pricing our services. The trustees have implemented existing risk management with further three monthly reviews to mitigate this risk. Raise will also continue to seek extra funding from housing associations, local and national government, and grant-giving bodies for its core work of home visits offering welfare, debt, and financial capability as well our employability service. ## **Structure, governance and management** The charity is a company limited by guarantee incorporated on 7 October 1999 and registered as a charity on 25 January 2006. The company was established under a Memorandum of Association which established the objects and powers of the charity and is governed under its Articles of Association. According to the constitution overall control of the company resides with the Board of Directors. Every issue may be determined by the Board by a simple majority of the votes cast at a meeting but a written resolution signed by all the Trustees is as valid a resolution passed at a meeting All staff paid or unpaid are accountable to the Board of Directors. Within the policies determined by the Board the Chief Officer has the authority and responsibility to ensure the smooth and effective running of the Service. Appointment of trustees is governed by the memorandum and articles of association. The Board of Trustees is authorised to appoint new trustees to fill vacancies through the death or resignation of an existing trustee. The Board maintains a list of the necessary range of skills and experience for Board members. The Chair conducts an annual audit of existing Trustees to identify any gaps in skills or experience and to decide on any necessary training or recruitment to fill those gaps. Trustees operate to a role description with newly recruited trustees receiving induction and support from more experienced trustees. The trustees, who are also the directors for the purpose of company law, and who served during the year were: Mr A Wilson Mrs J Guinan (Treasurer) Mr S Hughes (Resigned 7 January 2022) Mr C Hudson (Chair) Ms D McAndrew (Appointed 20 October 2021) Ms R Stott (Appointed 11 May 2022) - 7 - ## **RAISE LIMITED** ## **COMPANY LIMITED BY GUARANTEE** ## **TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **Senior staff members 2021/22** Emma Cook, Chief Officer to January 2022 Penny Brown, Chief Officer from January 2022 Linda Daley, Deputy Manager Jude Deakin, Project Manager ## **Small company provisions** This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. The trustees' report was approved by the Board of Trustees. **Mr C Hudson (Chair)** Trustee Dated: 15[th] December 2022 - 8 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES' RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ The trustees, who are also the directors of Raise Limited for the purpose of company law, are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these accounts, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and - prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 9 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF RAISE LIMITED** I report to the trustees on my examination of the financial statements of RAISE Limited (the charity) for the year ended 31 March 2022. This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for my examination, for this report, or for the opinions I have formed. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or - 4 the financial statements 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 financial statements to be reached. ## **Tony Stanley ACA** BWM Tempest Suite 5.1 12 Tithebarn Street Liverpool L2 2DT Dated: .........................16/12/2022 - 10 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **Current financial year** |**Current financial year**|**Current financial year**|**Current financial year**||| |---|---|---|---|---| |**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**|||**Total**|Total| ||**funds**|**funds**||| ||**2022**|**2022**|**2022**|2021| ||**£**|**£**|**£**|**£**| |**Income and endowments from:**||||| |Donations and legacies
**3**|761|1,535|2,296|604| |Charitable activities
**4**|358,710|425,368|784,078|709,623| |Investments
**5**|198|-|198|818| |Other income
**6**|-|-|-|853| |||||| |||||| |**Total income**|359,669|426,903|786,572|711,898| |**Expenditure on:**||||| |||||| |Charitable activities
**7**|348,726|456,132|804,858|690,565| |**Net income/ (expenditure) for the year**
Gross transfers between funds
**16**
**Net movement in funds**
Fund balances at 1 April 2021
**Fund balances at 31 March 2022**|10,943|||| |||||| |||(29,229)|(18,286)|21,333| |||||| ||(28,465)|28,465|-|-| |||||| |||||| ||(17,522)|(764)|(18,286)|21,333| |||||| ||265,300|1,526|266,826|245,493| |||||| |||||| ||247,778|762|248,540|266,826| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The movement in funds detailed above compiles with the requirements for a statement of changes in equity under FRS102. - 11 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **Prior financial year** |**Prior financial year**|**Prior financial year**|**Prior financial year**|| |---|---|---|---| |**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**|||**Total**| ||**funds**|**funds**|| ||**2021**|**2021**|**2021**| ||**£**|**£**|**£**| |**Income and endowments from:**|||| |Donations and legacies
**3**|604|-|604| |Charitable activities
**4**|295,075|414,548|709,623| |Investments
**5**|818|-|818| |Other income
**6**|853|-|853| ||||| ||||| |**Total income**|297,350|414,548|711,898| |**Expenditure on:**|||| ||||| |Charitable activities
**7**|251,887|438,678|690,565| |**Net income/ (expenditure) for the year**
Gross transfers between funds
**16**|45,463||| ||||| |||(24,130)|21,333| ||||| ||(25,656)|25,656|-| ||||| ||||| |**Net movement in funds**|19,807|1,526|21,333| |Fund balances at 1 April 2020
**Fund balances at 31 March 2021**|||| ||245,493|-|245,493| ||||| ||||| ||265,300|1,526|266,826| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The movement in funds detailed above compiles with the requirements for a statement of changes in equity under FRS102. - 12 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE BALANCE SHEET** ## _**AS AT 31 MARCH 2022**_ |**Notes**|**2022**||**2021**|| |---|---|---|---|---| ||**£**|**£**|**£**|**£**| |||||| |**Fixed assets**||||| |Tangible assets
**11**
**Current assets**|122,198
216,982
339,180
(93,375)|2,735
245,805
248,540
762
247,778
248,540|83,352
252,524
335,876
(73,918)
176,990
88,310|4,868| |||||| |Debtors
**13**||||| |Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**14**||||| |Net current assets||||261,958| |**Total assets less current liabilities**||||| |||||| |||||266,826| |||||| |||||| |**Income funds**||||| |Restricted funds
**16**||||1,526| |Unrestricted funds|176,990
70,788|||| |Designated funds
**17**||||| |General unrestricted funds||||| |||||| |||||265,300| |||||| |||||| |||||266,826| - 13 - ## **RAISE LIMITED** ## **COMPANY LIMITED BY GUARANTEE BALANCE SHEET (CONTINUED)** ## _**AS AT 31 MARCH 2022**_ The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 12[th] December 2022 Mrs J Guinan (Treasurer) Mr C Hudson (Chair) **Trustee Trustee** **Company registration number 03854479** - 14 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**Notes**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**21**
**Investing activities**
Purchase of tangible fixed assets|**2022**||**2021**|**£**
59,596| |---|---|---|---|---| ||**£**|**£**|**£**|| ||(2,057)
198|(33,683)
(1,859)
(35,542)
252,524
216,982|(4,092)
816|| |Investment income received||||| |**Net cash used in investing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**||||| |||||(3,276)| |||||56,320
196,204
252,524| - 15 - **RAISE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** ## **Charity information** RAISE Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 286 Scotland Road, Liverpool, L5 5AE. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association , the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** _Unrestricted funds_ are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity, and which have not been designated for other purposes. _Designated funds_ comprise unrestricted funds that have been set aside by the trustees for a particular purpose. The aim and use of each designated fund is set out in the notes to the financial statements. _Restricted funds_ are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income from donations and grants, including capital grants, and contract income is included when these are receivable, except as follows: - When donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods. - When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included until the preconditions for use have been met. - When donors specify that donations and grants, including capital grants, are for particular restricted purposes, which do not amount to preconditions regarding entitlement, this income is included in restricted funds when receivable. - 16 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ - **1 Accounting policies** **(Continued)** Voluntary income includes discretionary grants for projects, goods and services where no service agreement or contract exists. Income from donated services and facilities is included at a valuation which is an estimate of the financial cost borne by the donor where such a cost is quantifiable and measurable. No income is recognised when there is no financial cost borne by a third party. Interest is included when receivable by the charity. ## **1.5 Expenditure** Expenditure reflects all amounts paid and accrued during the year. All costs are allocated between the expenditure categories of the Statement of Financial Activities (SOFA) on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis. Staff costs are apportioned between activities on the basis of an assessment of the time spent by individual employees on those activities. ## _Charitable expenditure_ Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. ## _Governance costs_ These represent costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. ## **1.6 Tangible fixed assets** Tangible fixed assets are measured at cost, net of depreciation and any impairment losses. All assets costing more than £200 are capitalised at cost. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Office and computer equipment 33% per annum on a straight line basis The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. - 17 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ **1 Accounting policies** **(Continued)** ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Leases** Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease. ## **1.12 Taxation** The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions. Recovery is made of tax deducted from income and from receipts under Gift Aid. The charity is also able to partially recover Value Added Tax. Expenditure that is not recoverable by the charity is recorded in the accounts inclusive of VAT. - 18 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** ## **(Continued)** ## **1.13 Pensions** The charity operates a defined contributions pension scheme. Contributions are charged in the accounts in the year in which they are paid. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**|**Total**
Unrestricted|**Total**
Unrestricted| |---|---|---|---|---| ||**funds**|**funds**||funds| |||||| ||**2022**|**2022**|**2022**|2021| ||**£**|**£**|**£**|£| |||||| |Donations and gifts|761|-|761|604| |Grants receivable|-|1,535|1,535|-| |**Grants receivable for core activities**||||| |||||| ||761|1,535|2,296|604| |||||| |||||| |Job Retention Scheme|-|1,535|1,535|-| |||||| |||||| ||-|1,535|1,535|-| - 19 - ## **RAISE LIMITED** ## **COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **4 Charitable activities** |**Debt and welfare**
**rights advice**
**Ad**
**2022**
**£**
Services provided under contract
351,820
Performance related grants
236,341|**Debt and welfare**
**rights advice**
**Ad**
**2022**
**£**
Services provided under contract
351,820
Performance related grants
236,341|**vice Skills**
**Academy**
**Enterprise Hub**
**Scheme**
**Building Better**
**Opportunities**
**New**|**vice Skills**
**Academy**
**Enterprise Hub**
**Scheme**
**Building Better**
**Opportunities**
**New**|**vice Skills**
**Academy**
**Enterprise Hub**
**Scheme**
**Building Better**
**Opportunities**
**New**|**Horizons**|**Total**
**2022**|**Total**
**2021**| |---|---|---|---|---|---|---|---| ||**2022**|**2022**|**2022**|**2022**|**2022**||| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**| ||||||||| ||351,820|-|-|-|-|351,820|278,269| ||236,341|34,341|43,358|35,922|75,406|425,368|427,934| |Other income|6,890|-|-|-|-|6,890|3,420| ||||||||| ||||||||| ||595,051|34,341|43,358|35,922|75,406|784,078|709,623| ||||||||| ||||||||| |Analysis by fund|||||||| |Unrestricted funds|358,710|-|-|-|-|358,710|295,075| |Restricted funds|236,341|34,341|43,358|35,922|75,406|425,368|414,548| ||||||||| ||||||||| ||595,051|34,341|43,358|35,922|75,406|784,078|709,623| - 20 - ## **RAISE LIMITED** ## **COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**4**|**Charitable activities**|**(Continued)**| |---|---|---| ||**For the year ended 31 March 2021**|| |**welf**|**Debt and**
**are rights**
**Building Better**
**Opportunities**
**New**|**Debt and**
**are rights**
**Building Better**
**Opportunities**
**New**|**Horizons**|**Total**
**2021**| |---|---|---|---|---| ||**advice**
**£**|**£**|**£**|**£**| |||||| |Services provided under contract|278,269|-|-|278,269| |Performance related grants|340,935|42,517|44,482|427,934| |Other income|3,420|-|-|3,420| |||||| |||||| ||622,624|42,517|44,482|709,623| |||||| |||||| |Analysis by fund||||| |Unrestricted funds|295,075|-|-|295,075| |Restricted funds|327,549|42,517|44,482|414,548| |||||| |||||| ||622,624|42,517|44,482|709,623| - 21 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**5**
**Investments**|**5**
**Investments**|**5**
**Investments**| |---|---|---| |**Unrestricted**
Unrestricted
**funds**
funds
**2022**
2021
**£**
£
Interest receivable
198
818||| |||funds| |||| ||**2022**|2021| ||**£**|£| |||| ||198|818| |||| |||| |**6**
**Other income**||| |**Unrestricted**
Unrestricted
**funds**
funds
**2022**
2021
**£**
£
Other income
-
853
Other income consists of LCC ILM income for intermediate labour market employees.||| |||funds| |||| ||**2022**|2021| ||**£**|£| |||| ||-|853| |||| |||| |||| - 22 - ## **RAISE LIMITED** ## **COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **7 Charitable activities** |**Debt &**
**welfare**
**rights advice**
**Ad**
**2022**
**2**
**£**|**Debt &**
**welfare**
**rights advice**
**Ad**
**2022**
**2**
**£**|**vice Skills**
**Academy**
**Enterprise Hub**
**Scheme**
**Building Better**
**Opportunities**
**Ne**|**vice Skills**
**Academy**
**Enterprise Hub**
**Scheme**
**Building Better**
**Opportunities**
**Ne**|**vice Skills**
**Academy**
**Enterprise Hub**
**Scheme**
**Building Better**
**Opportunities**
**Ne**|**w Horizon**
**2022**|**Total**
**2022**|**Total**
**2021**| |---|---|---|---|---|---|---|---| ||||||||| ||**2022**
**2**|**022**
**20**|**22**
**2**|**022**
|||| ||**£**|**£**
|**£**|**£**|**£**|**£**|**£**| ||||||||| |Staff costs|376,051|38,916|40,454|32,385|68,258|556,064|431,962| |Office costs|1,558|-|-|126|154|1,838|6,293| |Staff and volunteer costs|1,734|-|-|-|315|2,049|486| |Other costs|3,381|-|-|-|-|3,381|4,799| |Partner payments|-|-|-|-|-|-|236| ||||||||| ||||||||| ||382,724|38,916|40,454|32,511|68,727|563,332|443,776| ||||||||| |Share of support costs (see note 8)|196,713|-|2,679|3,052|6,162|208,606|226,036| |Share of governance costs (see note 8)|31,042|-|423|482|973|32,920|20,753| |**Analysis by fund**|||||||| ||||||||| ||610,479|38,916|43,556|36,045|75,862|804,858|690,565| ||||||||| ||||||||| |Unrestricted funds|343,974|4,575|-|23|154|348,726|251,887| |Restricted funds|266,505|34,341|43,556|36,022|75,708|456,132|438,678| ||||||||| ||||||||| ||610,479|38,916|43,556|36,045|75,862|804,858|690,565| - 23 - ## **RAISE LIMITED** ## **COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ - **7 Charitable activities** **(Continued)** **For the year ended 31 March 2021** |**Debt & welfare**
**rights advice**
**Building**
**Better**
**Opportunities**
**New**
**£**
**£**|**Debt & welfare**
**rights advice**
**Building**
**Better**
**Opportunities**
**New**
**£**
**£**|**Debt & welfare**
**rights advice**
**Building**
**Better**
**Opportunities**
**New**
**£**
**£**|**Horizon**|**Total**
**2021**| |---|---|---|---|---| |||||| ||**£**|**£**|**£**|**£**| |||||| |Staff costs|340,364|52,918|38,680|431,962| |Office costs|5,449|844|-|6,293| |Staff and volunteer costs|125|361|-|486| |Other costs|4,799|-|-|4,799| |Partner payments|236|-|-|236| |||||| |||||| ||350,973|54,123|38,680|443,776| |||||| |Share of support costs (see note 8)|211,526|8,315|6,195|226,036| |Share of governance costs (see note 8)|20,212|310|231|20,753| |**Analysis by fund**||||| |||||| ||582,711|62,748|45,106|690,565| |||||| |||||| |Unrestricted funds|251,887|-|-|251,887| |Restricted funds|330,824|62,748|45,106|438,678| |||||| |||||| ||582,711|62,748|45,106|690,565| - 24 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **8 Support costs** |**Support costs**||||||| |---|---|---|---|---|---|---| ||**Support**
**costs**
**Governance**
**costs**||**2022**
Support costs
Governance
costs|||2021| |||||||| ||**£**|**£**|**£**|£|£|£| |||||||| |Staff costs|139,439|-|139,439|171,889|-|171,889| |Depreciation|4,190|-|4,190|5,569|-|5,569| |Premises costs|21,625|-|21,625|19,638|-|19,638| |Office costs|43,823|-|43,823|26,829|-|26,829| |Staff and volunteer costs|(2,152)|-|(2,152)|1,245|-|1,245| |Other costs|1,681|-|1,681|866|-|866| |||||||| |Indepentent examination|-|650|650|-|550|550| |Accountancy|-|2,735|2,735|-|1,950|1,950| |Legal and professional|-|29,535|29,535|-|18,253|18,253| |||||||| |||||||| ||208,606|32,920|241,526|226,036|20,753|246,789| |||||||| |||||||| |Analysed between||||||| |Charitable activities|208,606|32,920|241,526|226,036|20,753|246,789| Governance costs includes payments to the Independent Examiner for independent examination fees of £650 (2021: £550) and payments of £2,735 for accountancy fees (2021: £1,950). ## **9 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year (2021: £nil). No trustees were reimbursed for expenses during the year (2021: £nil). - 25 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **10 Employees** ## **Number of employees** The average monthly number of employees during the year was: |**Number of employees**
The average monthly number of employees during the year was:||| |---|---|---| ||**2022**|**2021**| ||**Number**|**Number**| |||| |Debt and welfare rights advisors|21|18| |Administration|6|6| |Building Better Opportunities|1|1| |||| |||| ||28|25| |||| |||| |**Employment costs**|**2022**|**2021**| ||**£**|**£**| |||| |Wages and salaries|620,246|538,267| |Social security costs|47,948|41,340| |Other pension costs|27,309|24,244| |||| |||| ||695,503|603,851| There were no employees whose annual remuneration was £60,000 or more. ## **11 Tangible fixed assets** |**Tangible fixed assets**|**Tangible fixed assets**| |---|---| |**Office and computer equipment**
**£**|| ||**£**| |**Cost**|| |At 1 April 2021|37,136| |Additions|2,057| |Disposals|(3,639)| ||| ||| |At 31 March 2022|35,554| |**Depreciation and impairment**|| ||| |At 1 April 2021|32,268| |Depreciation charged in the year|4,190| |Eliminated in respect of disposals|(3,639)| ||| ||| |At 31 March 2022|32,819| |**Carrying amount**|| ||| |At 31 March 2022|2,735| ||| ||| |At 31 March 2021|4,868| - 26 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**12**
**Financial instruments**|**2022**|**2021**
**£**
327,880
31,848
**2021**
**£**
2,100
73,257
7,995
83,352
**2021**
**£**
12,753
29,317
294
319
31,235
73,918
**2021**
**£**
29,317
**2021**
**£**
1,791
29,317| |---|---|---| |**Carrying amount of financial assets**
Debt instruments measured at amortised cost
**Carrying amount of financial liabilities**
Measured at amortised cost
**13**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments
**14**
**Creditors: amounts falling due within one year**|**£**|| |||| ||329,953|| |||| ||34,919|| |||| ||**2022**|| ||**£**|| |||| ||8,228|| ||104,743|| ||9,227|| |||| ||122,198|| |||| |**Notes**
Other taxation and social security
Deferred income
**15**
Trade creditors
Other creditors
Accruals
**15**
**Deferred income**
Other deferred income
Deferred income is included in the financial statements as follows:
Total deferred income at 1 April 2021
Amounts received in the year
Amounts credited to statement of financial activities
Total deferred income at 31 March 2022|**2022**|| ||**£**|| |||| ||16,884|| ||41,572|| ||13,501|| ||1,656|| ||19,762|| |||| ||93,375|| |||| ||**2022**|| ||**£**|| |||| ||41,572|| |||| |||| |||| ||**2022**|| ||**£**|| |||| ||29,317|| ||41,572|| ||(29,317)|(1,791)| |||29,317| ||41,572|| - 27 - ## **RAISE LIMITED** ## **COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **16 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: ||**Movement in funds**|**Movement in funds**|||**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---|---|---|---| ||**Income**
**Expenditure**||**Transfers**
**Balance at**
**1 April 2021**||**Income**
**Expenditure**||**Transfers**

**31 M**|**Balance at**
**arch 2022**| |||||||||| ||**£**
**£**||**£**|**£**|**£**
**£**||**£**|**£**| |||||||||| |Liverpool City Council|9,000
(9,000)||-|-|9,000
(9,000)||-|-| |GMMAP|185,946
(190,750)||4,804|-|194,976
(223,441)||28,465|-| |Building Better Opportunities|42,517|(62,748)|20,231|-|35,922|(35,922)|-|-| |John Moores Foundation|4,302|(4,302)|-|-|-|-|-|-| |North West Housing|11,597|(11,597)|-|-|11,829|(11,829)|-|-| |Clothworkers|5,100|(3,574)|-|1,526|-|(764)|-|762| |JRS Grant|15,376|(15,376)|-|-|1,535|(1,535)|-|-| |New Horizon|44,482|(45,103)|621|-|75,406|(75,406)|-|-| |LCR Cares|5,000|(5,000)|-|-|-|-|-|-| |Steve Morgan Foundation|11,154|(11,154)|-|-|-|-|-|-| |National Lottery Community Fund|80,074|(80,074)|-|-|-|-|-|-| |HM Courts and Tribunal Service|-|-|-|-|875|(875)|-|-| |PH Holt|-|-|-|-|5,000|(5,000)|-|-| |Skelton Charity|-|-|-|-|1,000|(1,000)|-|-| |Advice Skills Academy|-|-|-|-|34,341|(34,341)|-|-| |Enterprise Hub Scheme|-|-|-|-|43,358|(43,358)|-|-| |Kickstart Scheme|-|-|-|-|13,661|(13,661)|-|-| |||||||||| |||||||||| ||414,548
(438,678)||25,656|1,526|426,903
(456,132)||28,465|762| - 28 - ## **RAISE LIMITED** ## **COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ - **16 Restricted funds** **(Continued)** Liverpool City Council provide funding to enable home visits to Liverpool residents who, for one reason or another, are unable to access mainstream advice services. The grant of £9,000 from the Community Resources Grant (within Liverpool City Council) was used for the purpose for which it was awarded. Greater Merseyside Money Advice Partnership (GMMAP), funded through the Money and Pensions Service (MaPS), provides money advice which enable individuals to take back control of the finances through appropriate debt solutions. The Raise costs for staff are more than the grant will allow and therefore, the project cost reflect the actual cost of this project is always over budget. The board were in agreement to used unrestricted funds to offset the additional spending allocation. Building Better Opportunities: Better off Finance funded by The Big Lottery Fund and the European Social Fund aimed at improving financial capability and progression into training, education and employment. The funds received were for the purposes for which they were intended. John Moores Foundation provide funding to support the most vulnerable residents in Liverpool during the pandemic. The grant of £4,302 in 2021 was used for the purpose for which it was awarded. North West Housing provide funding to support their cooperative tenants with their advice needs. The grant was used for the purpose for which it was awarded. Clothworkers Foundation provide funding to support the organisations capital cost for IT during the pandemic. The grant of £5,100 was used for the purpose for which it was awarded The HMRC JRS Grant is the UK government's flagship support measure for organisations during the COVID-19 pandemic. It offers grants to cover a proportion of the salaries of furloughed staff. New Horizons provide funding to support the vulnerable individuals within the LCR to gain skills and experience which enable them to search for work, undertake training or find meaningful employment. The grant was used for the purpose for which it was awarded. LCR Cares - COVID 19 Community Support Fund provide funding to support the most vulnerable residents in Liverpool during the pandemic. The grant was used for the purpose for which it was awarded. Steve Morgan Foundation provide funding to support the most vulnerable residents in Liverpool during the pandemic. The grant was used for the purpose for which it was awarded. The National Lottery Community Fund provide funding to support the organisations core costs during the pandemic. The grant was used for the purpose for which it was awarded. HM Courts & Tribunal Service. Unit fee per person, at £75 per client, to help people to submit a digital appeal against a benefit decision. - 29 - ## **RAISE LIMITED** ## **COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ - **16 Restricted funds (Continued)** P H Holt, a single grant of £5000 towards the salary cost of a Welfare Claims Advisor. Skelton Charity, one off grant to pay for expenses for volunteers including headsets, and AdvicePro licencing. Advice Skills Academy (2) (ASA), delivers an integrated curriculum of accredited and non-accredited training to people in the Liverpool City Region. It develops and upskills the workforce for specialist Advice Services in the Liverpool City Region, and provides a pathway for unemployed people to compete effectively for job opportunities within the Advice Sector. Advice Skills Academy (2) delivers a range of accredited Level 2 & 3 training and non-accredited courses. Enterprise Hub Skills (EHS), offers high-quality learning and development opportunities to build the enterprise skills and economic pathways for individuals in the Liverpool City Region. Through tailored engagement, the Enable Team work with local residents, no matter what their background and circumstances, to facilitate access to support that will build an individual’s learning plan and promotes enterprise development. The Kickstart Scheme provides funding to create new jobs for 16 to 24 year olds on Universal Credit who are at risk of long term unemployment. - 30 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **17 Designated funds** The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: |**Balance at**
**1 April 2020**

**£**|**Balance at**
**1 April 2020**

**£**|**Movement in funds**|**Movement in funds**||| |---|---|---|---|---|---| |||**Transfers**
**Balance at**
**1 April 2021**||**Transfers**
**Balance at**
**31 March 2022**|| ||**£**|**£**|**£**|**£**|**£**| ||||||| |Reserve fund|176,990|-|176,990|-|176,990| ||||||| ||||||| ||176,990|-|176,990|-|176,990| The reserve fund is designated to provide for general contingencies, restructuring the services as well as possible employment termination costs, which includes redundancy liability, likely to be incurred should the charity cease to operate or have to reduce its activities. This is reviewed annually at the start of the year to ensure the charities liabilities are as informed as possible. ## **18 Analysis of net assets between funds** |**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at
31 March 2022
are represented
by:|**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at
31 March 2022
are represented
by:|**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at
31 March 2022
are represented
by:|**Total**
Unrestricted
funds
Restricted
funds|**Total**
Unrestricted
funds
Restricted
funds|**Total**
Unrestricted
funds
Restricted
funds|Total| |---|---|---|---|---|---|---| |||||||| ||**2022**|**2022**|**2022**|2021|2021|2021| ||**£**|**£**|**£**|£|£|£| |||||||| |Tangible assets|2,735|-|2,735|4,868|-|4,868| |Current assets/(liabilities)|245,043|762|245,805|260,432|1,526|261,958| |||||||| |||||||| ||247,778|762|248,540|265,300|1,526|266,826| ## **19 Operating lease commitments** At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: ||**2022**|**2021**| |---|---|---| ||**£**|**£**| |Within one year|19,110|18,034| - 31 - ## **RAISE LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**20**
**Related party transactions**||**2021**
**£**
69,723
**2021**
**£**
21,333| |---|---|---| |**Remuneration of key management personnel**
The remuneration of key management personnel is as follows.
Aggregate remuneration
There are no other related party transactions.||| |||| |||| |||| ||**2022**|| ||**£**|| |||| ||85,386|| |||| |||| |||| |**21**
**Cash generated from operations**|**2022**|| |**£**
(Deficit)/surpus for the year
(18,286)
Adjustments for:
Investment income recognised in statement of financial activities
(198)
Depreciation and impairment of tangible fixed assets
4,190
Movements in working capital:
(Increase) in debtors
(38,846)
Increase in creditors
7,202
Increase in deferred income
12,255
**Cash (absorbed by)/generated from operations**
(33,683)|**£**|| |||| |||(818)| |||5,569| |||(6,697)| ||7,202|12,683
27,526
59,596| ||12,255|| |||| |||| |**22**
**Company limited by guarantee**||| RAISE is incorporated under the Companies Act as a company limited by guarantee. The liability of the members is limited to £1. - 32 - ## **Document Activity Report** ## **Document Sent** Fri, 16 Dec 2022 10:31:55 GMT ## **Document Activity History** Document history shows most recent activity first ## **Date** ## **Activity** You can verify that this is a genuine Portal document by uploading it to the following secure web page: **http://bwm.accountantspace.co.uk/messages/VerifyDocument**