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2021-12-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021

LIBERA

(COMPANY LIMITED BY GUARANTEE) CHARITY REGISTRATION NUMBER 1127722 COMPANY REGISTRATION NUMBER 06774391

Libera Office 14 Access Self Storage 1A Kempshott Road London SW16 5LG

LIBERA

(COMPANY LIMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2021

Page
Legal and Administrative Information 3
Independent Examiner’s Report on the Accounts 4
Directors’ Report 5 to 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9 to 14

LIBERA (COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER

1127722

COMPANY REGISTRATION NUMBER 06774391 START OF FINANCIAL YEAR 01 January 2021 END OF FINANCIAL YEAR 31 December 2021 DIRECTORS AT 31 DECEMBER 2021 Barbara Geraghty Eleanor Caron Lewis Anna Jansen Andrew Winter Company Secretary Trust Advice CIC

Company Secretary

The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.

GOVERNING INSTRUMENT Memorandum and Articles of Association dated 16th December 2008

OBJECTS

a) The charity's objects ("The Objects") are for the public benefit and are in accordance with the Christian principles contained in the Statement of Faith to the articles.

b) To advance, improve, develop and maintain public education in and appreciation of the art and science of boys' choral music by any charitable means the trustees think fit including, but not limited to, educating boys in choral music.

REGISTERED ADDRESS

Unit 2

The Broadridge Business Centre Delling Lane Bosham PO18 8NF

BANKERS

INDEPENDENT EXAMINER

CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ

Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF

LIBERA (COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021

Report to the trustees / members of Libera on the accounts for the year ended 31st December 2021

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 130 of the Charities Act; and

  3. · to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date: 14th September 2022

7

LIBERA (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT

FOR THE YEAR ENDED 31ST DECEMBER 2021

During 2021 the Directors of Libera have met on 2 occasions. The following officers were re-elected.

Mr A Winter - Chair Mrs E Lewis - Honorary Secretary Mr A Winter - Honorary Treasurer

During 2021 Libera continued to be impacted by Covid-19. Regular face to face teaching and singing was interrupted for the first 3 months of the year, being replaced by online training sessions using Zoom, before resuming in April with appropriate Covid-19 risk mitigation in place. Overseas tours and UK concerts were postponed with the exception of a subsidised Christmas concert performed at St John’s Smith Square, London. It was possible to make this concert available to a wider audience in the UK and overseas through the St John's video streaming plaform

29 boys participated in a singing and activity break in the UK during the Summer holidays, which was partly funded by a grant from the Church Tenements Charity. During this break the boys led worship in a local church. They also recorded promotional material ahead of the release in October of a new CD, entitled IF.

In September Libera’s founder and musical director Robert Prizeman passed away. Libera alumnus Sam Coates has taken over as musical director.

LIBERA (COMPANY LIMITED BY GUARANTEE) DIRECTORS' REPORT (continued) FOR THE YEAR ENDED 31ST DECEMBER 2021

Statement of Directors' Responsibilities:

The Charities Act and the Companies Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to :-

The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. 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.

The trustees are also responsible for the contents of the trustees' report, and the responsibility of the independent examiner in relation to the trustees' report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies with the figures disclosed in the financial statements. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

I approve the attached statement of financial activities and balance sheet for the year ended 31st December 2021, and confirm that I have made available all information necessary for its preparation.

19th September 2022

Date......................................... Signature .......................................... A J Winter, Director.

LIBERA

(COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021

Incorporating Income & Expenditure Account

Notes
INCOMING RESOURCES
Donations & Legacies
3a
Investment Income
3b
Charitable Activities
3c
Other Income
3d
Other Incoming Resources
3e
TOTAL INCOME
EXPENSES
Costs of Charitable Activities
4a
Activities for Generating Funds
4b
TOTAL EXPENSES
NET INCOME / (EXPENSES)
TRANSFERS BETWEEN FUNDS
RECONCILIATION OF FUNDS:
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
102,627
12,336
114,963
31,378
-
-
-
-
19,636
-
19,636
10,565
8,724
-
8,724
3,198
1,000
-
1,000
486
131,987
12,336
144,323
45,627
57,156
12,336
69,492
34,866
2,719
-
2,719
0
59,875
12,336
72,211
34,866
72,112
0
72,112
10,761
-
-
-
-
10,913
0
10,913
152
83,025
0
83,025
10,913

Movements on all reserves and all recognised gains and losses are shown above. All of the Charity's operations are classed as continuing operations. The notes on pages 9 to 14 form part of these financial statements.

LIBERA (COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 DECEMBER 2021

Notes
Fixed Assets
Tangible Assets
2
Total Fixed Assets
Current Assets
Debtors & Prepayments
7
Cash at bank and in hand
6
Total Current Assets
Creditors:Amounts falling due
8
within one year
NET CURRENT ASSETS
TOTAL ASSETSless current liabilities
Creditors:amounts falling due
9
in more than one year
NET ASSETS
FUNDS OF THE CHARITY
General Funds
Restricted Funds
5
TOTAL FUNDS		 Unrestricted
Funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
92,055
-
92,055
19,943
92,055
-
92,055
19,943
780
-
780
780
91,275
-
91,275
19,163
91,275
-
91,275
19,163
-
-
-
-
8,250
-
8,250
8,250
83,025
-
83,025
10,913
83,025
-
83,025
10,913
83,025
-
83,025
10,913

Directors' responsibilities:

For the year ended 31st December 2021.

The Directors are satisfied the charitable company was entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that no member or members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011, the accounts have been examined by an Independent Examiner whose report appears after the Legal and Administrative Information

The Director acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The directors acknowledge their responsibility for ensuring that the company keeps proper accounting records which comply with sections 386 of the Act 2006 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 proft and loss for the financial year in accordance with the requirement of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

19th September 2022

Approved by the Directors on the......................................................................................................

Signed on their behalf by Director....................................................................................................

Print Name: Andrew Winter

Company Registration Number : 06774391

LIBERA (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.

Basis of preparation:

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011. The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.

Assessment of Going Concern

Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Cash Flow Statement

The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement.

Recognition of Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when:

· the charity becomes entitled to the resources;

· the trustees are virtually certain they will receive the resources; and

Incoming Resources with Related expenditure

Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.

Grants and Donations

Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.

Tax Reclaims on Donations and Gifts

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Gifts in Kind

Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income receivable.

Volunteer Help

The value of any voluntary help received is not included in the accounts and is described in the Directors' annual report if applicable.

Donated Services and Facilities

These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity of the service or facility received.

Investment Income

This is included in the accounts when receivable.

This page does not form part of the statutory financial statements

LIBERA (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021

1. ACCOUNTING POLICIES (continued)

Investment Gains and Losses

This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

Expenditure and Liabilities Liability Recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out

Governance Costs

Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advise to trustees on governance or constitutional matters.

Grants with Performance Conditions

Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.

Grants Payable without Performance Conditions

These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.

Operating Leases

Rental charges payable under operating leases are charged on a straight line basis over the terms of the lease.

Taxation

The charity is exempt from tax on its charitable activities.

Legal Status of the Charity

The charity is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

Fixed Assets

Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.

Depreciation Expense

Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:

General Equipment 25% Communication Equipment 25%

There has been no change to the accounting polices (Variation rules and methods of accounting) since last year.

2. TANGIBLE FIXED ASSETS

The Charity held no fixed assets or investments during this or the previous financial period.

This page does not form part of the statutory financial statements

LIBERA (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021

3. INCOMING RESOURCES

INCOMING RESOURCES
a) Donations & Legacies
Easter bootcamp Grant
Gift Aid Tax Recovered
Gifts and Donations
Parental Contributions
b) Investment Income
Interest Received
c) Incoming from Charitable Activities
Concert & Tour Income
Recording Income
d) Other Income
Merchandise
Royalties
Sales Commission
e) Other Incoming Resources
Donated Services and Facilities
Sundry Income		 Unrestricted
Funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
-
7,000
7,000
11,800
19,328
1,250
20,578
-
83,299
-
83,299
19,578
4,086
4,086
102,627
12,336
114,963
31,378
-
-
-
-
-
-
-
-
10,575
-
10,575
10,565
9,062
-
9,062
-
19,636
-
19,636
10,565
4,479
-
4,479
1,391
3,807
-
3,807
-
438
-
438
1,807
8,724
-
8,724
3,198
1,000
-
1,000
-
-
-
-
486
1,000
0
1,000
486

This page does not form part of the statutory financial statements

LIBERA (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021

4. RESOURCES EXPENDED

a) Charitable Activities
Advertising & Publicity/Social Media
Accommodation
Admin Support
Bank Charges
Concert & Tour Costs
Easter Bootcamp
Recording Expenses
Sundry expenses
Website/internet costs
Vocal Training
Donated Services and Facilities
Governance costs:-
Independent Examiner Fee
Insurance Costs
Legal & Professional fees
b) Cost of Generating Funds
Advertising & Publicity
Fees
Merchandise		 Unrestricted
Funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
-
-
-
370
3,016
-
3,016
-
500
-
500
-
102
-
102
66
16,667
-
16,667
19,460
-
-
-
10,525
12,040
-
12,040
-
221
-
221
-
1,644
-
1,644
1,030
17,766
12,336
30,102
-
1,000
1,000
-
1,560
-
1,560
-
1,768
-
1,768
2,440
871
-
871
976
57,156
12,336
69,492
34,866
230
-
230
-
216
-
216
-
2,273
-
2,273
-
2,719
-
2,719
0

This page does not form part of the statutory financial statements

LIBERA (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021

5. RESTRICTED FUNDS

The Charity received and expended Restricted Funds during this financial period as shown in the Statement of Financial Activities.

6. CASH AT BANK AND IN HAND

Cash at Bank and in Hand Unrestricted
Funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
92,055
-
92,055
19,943
92,055
-
92,055
19,943

7. DEBTORS AND PREPAYMENTS

7. DEBTORS AND PREPAYMENTS
Sundry Debtors Unrestricted
Funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
-
-
-
-
-
-
-
-

8. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE WITHIN ONE YEAR

Unrestricted Restricted Total Total
Funds Funds 2021 2020
£ £ £ £
780 - 780 780
780 - 780 780

9. CREDITORS AND ACCRUALS AMOUNTS FALLING DUE IN MORE THAN ONE YEAR

Long Term Creditors Unrestricted
Funds
£
Restricted
Funds
£
Total
2021
£
Total
2020
£
8,250
-
8,250
8,250
8,250
-
8,250
8,250

During past financial years, two interest free loans were set up between Libera and anonymous donors for £7,250 & £1,000. These will be repaid when funds permit .

This page does not form part of the statutory financial statements

LIBERA (COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021

10. STAFF COSTS AND NUMBERS

The Charity employed no members of staff during this or the previous financial period. (2020 - None)

11. DIRECTORS AND OTHER RELATED PARTIES

No material payments were made to directors or any persons connected with them during this financial period. No material transaction took place between the charity and a director or any person connected with them. (2020 - None)

12. RECONCILATION OF MOVEMENT ON CAPITAL AND RESERVES

The Company is Limited by Guarantee 06774391 and it is a charity registered with the Charity Commission 1127722. It does not have a Share capital and has no income subject to Corporation Tax.

Profit / Deficit for the financial year
Other Recognised Gains
Balance Brought Forward
Closing Funds		 2021
£
2020
£
72,112
10,761
-
-
72,112
10,761
10,913
152
83,025
10,913

13. RISK ASSESSMENT

The Directors actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Directors have also examined other operational and business risks which they face and confirm that they have established

14. RESERVES POLICY

The Directors have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Directors aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Directors will endeavour not to set aside funds unnecessarily.

15. PUBLIC BENEFIT

The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Directors' report. The Directors confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

This page does not form part of the statutory financial statements