Company registration number: 062451 OJ Charity registration number- 1120694 Charnwood 20:20 known as Love4Life (and previously Twenty Twenty) (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended ) l March 2024 Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Contents Reference and Administrative Detai15 Trustees, Report 2to8 Independent Examiner's Report Statement of Financial Activities Ioto I Balance Sheet 12 Notes to the Financial StateTnents 13to22
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Reference and Administrative Details Truslees Jonathan Kerry, Chair Fiona Cook Ben Ellis Cathy Robinson Paula Robertson Sima Bodalikar Holly Nock Sandra Wiggins Louise Adams Secrelary Senior Management Team Louise Adams Chrislian Peat Karley Barber Charity Registration Number 120694 Company Regislration Number 06245 IOJ Registered Office Unit 15. JO Meadow Lane LouJJborough LEII IJY Independent Examiner John O'Brien, employee of Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL Page I
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the chariiable company for the year ended J l March 2024. Truslees and officers The trustee5 and otTicers serving during the year and since the year end were as follows: Trustees" Jonathan Kery, Chair Fiona Cook Ben Elli5 Cathy Robinson Amy Petterson (resi.(med 22 May 202J) Mark Vyner (resigned 22 January 2024) Paula Robertson Sima Bodalikar (appointed 22 May 202)) Holly Nock (appointed 22 May 202J) Sandra Wiggins (appointed 6 November 202)) Secretary: Joanne Heldreich (resi.(med 22 May 202)) Louise Adams (appointed 22 May 2023) Structureg governanee and management Il'ature ofgoverning documenl The charity Chamwood 20:20 'aS founded and incorporated as a company limited by guarantee on the I Ith May 2007, and its registered number under the Companies Aci 1985 is 0624510). It is a registered charity in England and Wales, number 1120694. It now trades as "Love4Life' and previously was "TwentyTwenty The charitable company is limiied by guarantee without having a share capital and the liability of the members is limited to £1 each. The charitable company is governed by its Articles of Associaiion as amended on 13 April 20?2. Recruilpnenl and appoinlmenl oflru51ee5 Prospective trnstees fill in an application forni, this is assessed by the Chair and CEO. A conversation between the prospective trustee and CEO happens to infonn them further about the charity. The Chair and another member of the trnstee team meevinterview. they are invited io a board meeting and then decide if they would be recruited to the position. Page 2
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Trustees, Report Objectives and activities Objects and aims Love4Life is run by a dedicated team committed to making a difference in the lives of young people. Love4Life began in response to a grow.ing concern for the well-being and self-esteem of girls from an estate in Loughborough. Since then our service has gro to work across more areas of deprivation in Leicester, Leicestershire and Derby, supporting hundreds of vulnerable young people every. year. We specialise in supporting vulnerable girls aged 11-18 to develop their self-esteem and fonn positive and empom'ering relationships by delivering Love4Life groups, one-t(Fones and workshops in secondary schools and in the community. Love4Life delivers targeted relationship and sex education to support young people facing diificulties in these areas. We provide honest and age-appropriate resources to help them understand their sexual health, how to stay safe and the potential risk of sexual exploitation. All of our work embeds positive self-worth. body image and the handling of emotions in order to help a young person become more resilient. Our belief is that once young people feel good about themselves are more likely to make positive choices in their health and relationships. Our aims, objectives and consequent activitie5 are all desi(Fned and delivered with regard to the Charity Commission guidelines on public benefit. Our work directly benefit5 the young people. none of whom pay for any of our services. As they make progress in themselves. the benefit to them extends to their families and communities and the agencies that may have refeffed them to us. The Charity s objects are.. a) to provide for the public benefit, community projects promoting education. training, the relief of unemployment, good health and recreational and other leisure-titne occupation in the interests of social welfare for person5 who have need by reason of their youth. poverty OT social and ecoT]omic Circumstances with the object of improving their conditions of life in CharnwiK)d. Lou( .hborough and in such other parts of the United Kingdom or the world as the trustees may from time to time think fit- and b) to fulfil such other purposes ii.-hich are exclusively charitable according to the law of England and Wales and are connected with the charitable work olthe charity. Objeclives, stralegies and activilie5 We provide support to young people aued 11-18. We hold= One-to-ones - young people M'ho are in need of specific. targeted support receive 12 weeks of hourly sessions with a dedicated youth worker. These sessions take place either in school or in a safe space in the community. Love4Life Groups 4mall '¢¢klY groups w.ith a maximum of 12 young people. A safe social space where they feel siipported alongside a group of young people with similar experiences. Our Love4Life groups offer fun, creative activities and group discussion as a means to explore important topics. Public benefit These activities benefit young people aged 11-18 who are disadvantaged or vulnerable within society. The young people we work with are more likely to stay in education, have better physical aTJd mental health and engage in healthier relationships. Page i
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Trustees, Report The trustees confirni that they have complied with the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievements and performance Love4Life's core support services consist of one-tfrone mentoring sessions and Love4Life groups, which can be held in schools or in the community.. We are a llY referral-based service, accepting referrals from parents, schools, professionals and young people aged 16+ This allows us to focus our support on the girls who need us mosL particularly those disengaged from school or coming from disrupted home backgrounds. .h demaT]d for our work acr055 Leicestershire, Leicester and Derby In 23-24, we have continued to experience hiu as the skills of our staff have enabled our reach and sUPPOrt to expand. and our reputation to grow stronger. We continue to see higher incidence of complex needs amongst )'oung people accessing our services, in particular growing mental health concerns, with statutory support being stretched and waiting lists growing longer, often into years. Schoo15 have a150 told us that their pastoral support Is increasingly stretched. Our delivery expanded throughout the 23-24 period. and we undertook 16 Love4Life groups throughout our delivery area of Leicestershire. Leicester and Derby. We had new groups starting iv) Derby and Leicester and expanded into Coalville. Other groups have moved venues lo ensure best coverage. and others have closed as we ensure the areas supported are those communities in the mosl need. As our groups are purposefully small, we have worked hard to ensure groups are well attended. In total we supported ?64 young people through our groups and 230 through our 1-2-1 interventions. We have also increased our team size, employing 2 new full-time youth workers, giving us the capacity to work with more young people. 494 young people have been sUPPOrted this year. and 960/0 of thetn tnade progress in at least one of the areas we target. 880/0 reported increases in self-e5teem, 880/0 increased their confidence. and 840/0 increased their understanding of healthy relationships. 750/0 of young people made progress in all three areas. Our Relationship and Sex Education {RSE) work has increased. and this is Proving to be a valuable resource to help expand the name of Love4Life and also as a way of diversifying our income. assisting us to create a broader fiindraising strategy. RSE helps us to increase the confidence of more youTJg people, ensuring they have high quality. accessible inforniation that M'ill build their understanding of healthy relationships and empower them to make positive decisions aboui ihemselves. Page 4
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Trustees, Report Life Our holiday events programme has grown, and we have started to be able to track the engagement of participants in these events. The holiday activities give girls another chance to engage with others, and practice the skills they have been leaming in groups and 1-2-1's. This year we provided IJ Opportunities for young people to meet up. make friends and experience positive self-esteem building activities during a time where many young people can feel isolated and left out. After having to scale back our fundraising last year. we have been successful in our activities this year. At the beginning of the financial year. we created a ne. Cominunity Fundraiser role. This ha5 enabled us to expand our comTnunity engagement in fundrai5in£ and have started to run our owi event5 as a source of income. We decided to diversify our fundraising strategy through a Major Donors prograTntne, which has proven to be successful, securing 3 major donors this year. All major donors have agreed to support Love4Life with multi-year funding, helping to relieve sotne of the pressures that grant and trust fundraising is experiencing across the charity sector. We were also successful in securing multi-year funding from Henry Smith Charity. Our Youth Action Board is gaining confidence. They have assisted with interviews. planning our Celebration event and were asked for their input by Leicester Cily Football Club in rewTiting their Equality Diversity and Inclusion plan. They have taken part in fundraising events. boih fundraising and talk.ing about their personal journeys with Love4Life. They have ¢¢n[lY chosen their own chair and are looking to set an agenda of work. Page 5
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Trustees, Report The annual celebration event was a big success this year with girls from all our delivery areas attending. We had 250 young people, parentslcarers. referrers and supporters in attendance. The night was filled with love, joy and laughter as young people took to the stage to recile their own poetry, tell others about their joumey, and dancing to demonstrate how. confident they have become. ¥dAykntto Financial review In 23-24 Love4Life raised £422,778, exceeding our fundraising budget of £417,232 and ended the year with a surplus of £17,991, which more than covered the £15,115 deficit in the prior year. The charity continues to diversify its income streams to ensure that the further expansion of Love4Life builds on a stable financial foundation. The charity finished the year V+'ith reserves of £169.756. in line with our policy to hold 3-6 months operating Costs in reserve. We believe holding reserves to be an essential Safeguard in an ever more uncertain funding environment, and during a time ol organi5ational growth. where we have a150 managed our cash position carefully to ensure financial resilience. We '0ld particularly like to say huge thank you to our many funders. who continue to believe and invest in us in order to see fantasti¢ results for young people. Policy on reserves Our policy is to have between 3-6 months of reserve5. In an unstable financial clivnate with the cost of living crisis we believe this is essential $0 we can ensure services coniinue. This level of reserves helps to ensure continuity as we diversify our income streams.
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Trustees, Report Principal risks and uncertllinlies RelionLe on Irusls andgranifiinding We are heavily reliant on trusts and grant funding. Many of these are oversubscribed in the current clirnate. We are diversifying our income: we are expanding our income from Corporate Parnerships. and cornrnunity fundraising. Our paid for RSE work has been growing and we are looking at how we ensure this remains a good source of income as a basis to our charitable w'ork. Plans for future periods Aims and key objective5forfulureperiod5 Our plans for the future continue to grow. in a secure fashion. ensuring we Can underpin our work with funding as we go. We brought fon4.ard our plans to employ a new youih worker in Derbv, replacing the need for a sessional worker. This is proving to be vllal in ensuring we can provide increasing capacity for 1-2-1's. We will be increasing the number of groups to 17, targeting growth in Leicesier City. We will be increasing our dala, monitoring and impact measurement and are going to create a way of capturing the future outcomes of our young people. Helping us to reflect the ongoing impact of Love4Life for young people. The Youth Action Board will continue to meet during school holiday time, and we are recruiting new young people to this to ensure each area is represented. We have developed a robust fundraising plan and are looking foN'ard to increasing our engagement with the communities that 'e Serve through an eitensive calendar of activities. We are looking to develop our offer to local companies to unlock further fundraising opportunitie5 and awarene55 Wlthin the areas we work, whi15t underpinning and securing our future work. Statement of Responsibilities The trustees {who are also the directors of CharniA'IKyd ?0=20 for the pury)oses of cotnpany law) are responsible for preparing the trustees, report and ihe financial staiements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in ihe UK and Republic of Ireland" The report and accounts have been prepared in accordance wilh the provisions in ihe Companies Act 2006 relating to small companies. Company law requires the trustees to prepare financial 5tatetnents for each financial year. Under company law the trustees must not approve the financial statements unless they are Satisfied that they give a true and fair view of the state of affairs of the charitable compaTJy and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements. the trustees are required to- select suitable accounting policies and apply them consistently- observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent; state whether applicable accounling slandards. comprlsing FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements. and Page 7
Charnwood 20:20 known as Love4Life {and previously Twenty Twenty) Trustees. Report prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitsble company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detectioTh of fraud and other irregularities. The trustees are responsible for the maintenaThce and integrity of the corpordte and financial inforn]ation included on the charitable cornpaThs website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Small companies provision statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the trustees of the charity on 4 September 2024 and signed on its behalf by: Jonath Trustee Kerry Page 8
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Independent Exarniner's Report to the trustees of Charnwood 20:20 ('the Company,) Independenl examiner's report to ihe Iruslees of Charnwood 20:20 ('the Company,) I report to the charity trustees on my examination of the accounts of the company for the year ended J l March 2024. Responsibilities and ba515 of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounls of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner'5 5talement Since the Companv's gross income exceeded £?50.000 your examiner must be a member of a body listed in section 145 of the 201 l Aci. I conflnn that l am quallfied to undertak'e the examination because l am a member and Fellow of the Association of Charity Independeni Examiners. which is one of the lisled bodies. I have completed my examination. I confirni that no 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 Company as qUIred by section J86 of the 2006 Act. or 2. the accounts do not accord with those records- or 3. the accounts do not comply with the accounting requirements of section J96 of the 2006 Act other th7 any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination- or 4. the accounts have not been prepared in accordance with the tnethod5 and principle5 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 I 0?)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be draw in this report in order to enable a proper understanding of the account5 to be reached. John O'Brien L1)c, FAIA. FLLA. FCIE. employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL 0610912024 Page 9
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Statement of Financial Activities for the Year Ended 31 March 2024 (Including Ineome and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrieted funds Restricted funds Tolal 2024 Total 2023 Note Income and Endoivments from: Donaiions and legacies Charitable activities 154,i62 154,362 268,416 120,300 179,757 2)7,662 Total income 185.116 2J7,662 422,778 JOO,057 Expenditure on: Charitable activities (95,072) (309.715) (404.787) (315,172) Total expenditure (95,072) (309.715) (404.787) (315,172) Net incomel(expenditure) Transfers between funds 90,044 (7?,053) (72,05)) 17,991 (15,115) Net movement in funds 17.991 17,991 (15,115) Reconcilialion of funds Total funds brought forward 151,765 151,765 166,880 Total funds Caled fOard 17 169,756 169,756 151,765 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 17. Type text here The notes on pages 13 to 22 forni an integral part of these financial statements. Page 10
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Statement of Financial Activities for the Year Ended 31 March 2024 (Including Ineome and Expenditure Account and Statement of Total Recognised Gains and Losses) These are the figures for the previous accounting period and are ineluded for comparative purposes Unrestricted Restrieled Total funds funds 2023 Note Income and Endowments from: Donations and legacies Charitable activities 120,300 120,300 179,757 148,456 Total income 151,601 148,456 300,057 Expenditure on: Charitable activities (49,195) (265.977) (315,172) Total expenditure (49,195) (265.977) (J15,172) Net incomel(expenditure) Transfers between funds 102,406 (117.521) (117,521) 117,521 (15,115) Net movement in funds (15,115) (15,115) Reconciliation of funds Total funds brought forward 166,880 166,880 Total funds carried forward 17 151,765 151,765 The notes on pages 13 to 22 forni an integral part of these financial statements. Pagell
Charnwood 20:20 known as Love4Life (and previously Twenty Twenty) (Registration number: 06245103) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tan¢yible assets 1,749 4.152 Current assets Debtors Cash at bank and in hand 10 8,090 254.OOJ 13,710 200,224 262,093 213,934 Creditors: Amounts falling due within one year 12 (94,086) (66,i21) Net current assets 168,007 147,613 Net assets 169,756 151,765 Funds of the charity: Unrestricted income funds Unrestricted fimds 169,756 151.765 Total funds 17 169,756 151,765 For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small ¢oJnpanies. Directors, responsibilities- The members have not required the charity to Oain an audit of its accounts for the year in question in accordance with section 476- and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 10 to 22 were approved by the trustees, and authorised for issue on 4 September 2024 and signed on their behalf by: Jonat Trustee n Kerry The notes on pages 13 to 22 forni an integral part of these fjnancial statements. Page 12
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Notes to the Financial Statements for the Year Ended 31 March 2024 l Aecounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the prepardtlon of these fmancial slatements are set out below. These policies have been conslslently applied to all the years presente(L unless othenvise slated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) (Charities SORP (FRS 102}). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis ofpreparalion Charnwood ?0-20 meets the definition of a public benefit entity under FRS 102. A5set5 and liabilities are initially recognised at historical cost or transaction value unle55 Othenwise stated in the relevant accounting policy notes. Going concern The financial Statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going Concern. The twstees make this assessment in respect of a period of one year from the date of approval of the financial $teMentS. Exemption from preparing a cash flow statement Under the exemption available to smaller charilies the Board of Trustees h&s chosen not to include a Statement of Cash Flows within the financial slalements. Income and endowmenls Volunlary income including donations. gifts. legacies and grdnts that provide core funding or are of a geiieral nature is recognised 'hen the charity has entiilement to the income, it is probable that the income will be received and the amount can be measured '1th sufficient reliabllity. Donalions and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subjecl to condilions thal require a level of perforniance by the charity before the charity is eniitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilrnent of those conditions is M'holly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Page li
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Notes to the Financial Statements for the Year Ended 31 March 2024 Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where perfomiance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Deferred income Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when= The donor specifies that the grant or donation tnust only be used in future accounting periods. or The donor has imposed conditions which must be met before the charity ha5 unconditional entitlement. Expenditure All expenditure is recognised once there is a legal OT constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that categorv. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consisteTJt with the use of resources, with central staff costs all(xated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of sthff costs. Charilable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs thai can be allocaied direcily to such activities and those costs of an indirect nature necessary to support them. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or capitsl gains received within categories covered by Chapter J Part I l of the Corporalion Tax Aci 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets costing £600.00 or more are initially recorded at cost. Depreciation and amortisation Depreciation is provided on tangible fjxed assets so as to TIte off the cost or valuation, less any estimated residual value, over their expected useful economic life as folloM'.s= Asset class otfice equipment Computer equipment Depreciation method and rate 2 jQ/o on a reducing balance basis JJ.JJ /0 on a straight Ilne basis Page 14
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Notes to the Financial Statements for the Year Ended 31 March 2024 Trade debtors Trade debtors are amounts due from customers for merchandise 501d or Services performed in the ordinary course of business. Trade debtor5 are recognised initially at the transaction Price. They are subsequently measured at amortised cost using the effective interest metho(L less provision for impairment. A provision for the impairnient of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original tern)s of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounls payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, the). are presented as non-current liabllitles. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Fund strueture Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. 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 flnancial statements. Pensions and other post retirement obligations The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due lor service, the exce55 is recognised as a prepayment. Page 15
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Notes to the Financial Statements for the Year Ended 31 March 2024 2 Grants & donations Unrestricted funds Reslrieled funds Total National Lottery Community Fund Henry Smith Charity Trusthouse Charitable Foundation Garfield Weston Cheverton Celia MacKay Charitable Trust Richard MacKay Charitable Trust Swire Charlthble Trust BBC Children in Need Masonic Charitable Trust People Zones Mountsorrel Relief St James, Place Charitsble Foundation Katey Jorgensen Brush Foundatlon The Benefact Trust The Access Foundation The Edith Murphy Fund Carlton Hayes Mental Health Charity The Souter Foundation Oakland Foundation Scott Bader Grant Brian Murtagh Charity Corporate donations Other grants and donations <£2,500 56,845 i8,900 26,150 22,500 20,000 14,583 12,500 11,250 10,000 8,000 56,845 26,150 22,500 20,000 12.500 11,250 10,000 8,000 5,000 2,500 5,000 2,500 62,500 62,500 6,500 5,000 5,000 4,000 4,000 6,500 5,000 5,000 4,000 4,000 2,500 2,500 22,743 28,157 24.657 3.500 154.369 237,662 392,024 Page 16
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Notes to the Financial Statements for the Year Ended 31 March 2024 3 Income from donations and legacies Unrestricted fund5 General Total 2024 Total 2023 Donations and legacies. Donations from companies, trusts and similar proceeds Donations from individuals Grants, including capital grants- Grants from other charities 15,025 6,161 6,100 6,100 1?5,519 125,519 99,114 154,362 154,362 120,300 4 Income from charitable activities Unreslricted funds General Restricted funds Total 2024 Total 2023 Grants & donations Fundraising & events Other income 237,662 237,662 22,344 8.410 148,456 26,125 5,176 22,344 8.410 237.669 268,416 179,757 5 Expenditure on charitable activities Unrestricted funds General Restricted funds Tot21 2024 Total 2023 Staff costs Travel & sub51Stence Staff training Rent & room hire IT & communication costs General adrnini5tration expenses Professional fees & insurance Depreciation Sundry expenses Other costs 71.625 254,7J9 10,404 9,912 2,927 9,984 326,364 10,404 9,212 8,125 243,462 6,146 5,529 7,575 8,266 3,440 10,694 3,105 306 26,649 5,198 2,949 2,145 5,097 2,811 2,145 5,097 2,811 ?7,696 )09,715 404,787 315,172 Page17
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Notes to the Financial Statements for the Year Ended 31 March 2024 6 Net incomingloutgoing resources Net incominty(outgoing) resources for the year include= 2024 2023 Depreciation of fixed assets 2,811 7 Staff Costs The aggregate pa)ToII costs were a5 lollom's: 2024 2023 Starrcosts during the year were: Wages and salaries Social security costs Pension costs 299,813 19,992 6,559 225,917 12,951 4,594 J26,364 243,462 The monthly average number of persons (including senior rnanernent team) employed by the charity during the year was as follom's.. 2024 No 2023 No A verage number of employees 16 13 (2023 - 10) of the above employee5 participated in the Defined Contrtbution Pension Schelnes. Contributions to the employee pension schemes for the year totalled £6.559 (202J - £4,594). No employee received emoluments of more than £60,000 during the year. The total employee benefits of the key management peOnnel of the charity were £46,163 (202J - £57,069). Page18
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Notes to the Financial Statements for the Year Ended 31 March 2024 8 Fees payable to independent examiner During the period, the fees payable {excluding VAT) to the charity's independent examiner ale analysed as follows: 2024 2023 Independent examination 1.325 1,200 1.325 9 Tangible fixed assets Office equipment Computer equipment Total Cost At l April 2023 Addition5 2.125 8,681 408 10,806 408 At 31 March 2024 2,125 9.089 11,214 Depreciation At l April 202J Charge for the year 1,150 244 5,504 2,567 6,654 2,811 At J l March 2024 1.394 8,071 9.465 Net book value At 31 March 2024 7il 1.018 1.749 At J l March 2023 975 4,152 10 Debtors 2024 2023 Trade debtors Prepayments & accrued income 3,430 4,660 9,984 3.726 8,090 13,710 Page 19
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Notes to the Financial Statements for the Year Ended 31 March 2024 I I Cash at bank and in hand 2024 2023 Cash on hand Cash at bank 101 200,12) 254,00) 254,OOJ 200,224 12 Creditors: amounts falling due wiihin one year 2024 2023 Trade creditor5 Other taxation and social security Accruals Deferred income 1,135 5,323 5,518 82,110 2,745 4,587 4,970 54,019 94,086 13 Obligations under lea5e5 and hire purchase contracts Operaling lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows: 2024 2023 Land and buildings Within one year 4,112 3.916 Other Within one year Between one and five years 669 167 669 1,505 14 Charity status The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 15 Taxalion The charity is a registered charity and is therefore exempt from laxation. Page 20
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Notes to the Financial Statements for the Year Ended 31 March 2024 16 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 17 Funds Balance at 31 March 2024 Balance at April 2023 Incoming resources Resourees expended Transfers Unrestricted funds General General fund 151,765 185,116 (95,072) (72,053) 169,756 Restricted funds Restricted reserve 237,662 (309,715) 72,053 Total funds 151.765 42? 778 (404,787) 169,756 Balance al 31 Mareh 2023 Balance at I April 2022 Incoming resources Resources expended Transfers Unrestricted funds Generol General fund 166.880 151.601 (49.195) (117,521) 151.765 Restricted Restricted reserve 148,456 (?65,977) 117,521 Total funds 166,880 )00,057 (315.172) 151,765 The specific purposes for which the funds are to be applied are as follows: The general reserve represents the free funds of the charity which are not designated for particular purposes. The restricted reserve represents funds given for an intended purpose to support any specified area of work of Love4Life. Transfers relate to unrestricted funds used to cover the overspend on restricted funds. Funds received are expended for their intended PUTpose, in m05t cases within the same financial year. Page21
Cbarnwood 20:20 knoivn as Love4Life (and previously Twenty Twenty) Notes to the Financial Statements for the Year Ended 31 March 2024 18 Analysis of net assets between funds Unrestricted 2024 Total funds General Restricted Tangible fixed assets Current assets Current liabilities 1.749 179,98) {11,976) 1.749 262,09) (94,086) 82,110 (82,110) Total net assets 169,756 169,756 Unrestricted 2023 Total funds General Reslrieled Tanuible fjxed assets Current assets Current liabilities 4,152 159,915 {12,302) 4,152 213,934 (66,321 54,019 (54,019 Total net assets 151,765 151,765 19 Related party transactions There were no related party transactions in the year. Page 22