Registration number: 06632229
Lifebeat
(A company limited by guarantee) Annual Report and Unaudited Financial Statements
for the Year Ended 31 December 2020
WRIGHT & CO CHARTERED ACCOUNTANTS 2 Longrood Road Bilton RUGBY Warwickshire CV22 7RG
Lifebeat
Contents
| Company Information | I | |
|---|---|---|
| Directors’ Report | 2 | |
| Accountants’ Report | 3 | |
| Profit and Loss Account | 4 | |
| Statement ofComprehensive Income | a) | |
| Balance Sheet | 6 | |
| Statement ofChanges in Equity | 7 | |
| Notes to the Unaudited Financial Statements | 8 | to9 |
| DetailedProfitandLossAccount | 10to12 |
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Lifebeat
Company Information
Directors Ms J Smith Mr B Shah Mr P Wozny Mr H Eddis Ms R Allanah
Registered office STANFORD HALL STANFORD-ON-AVON LUTTERWORTH LEICESTERSHIRE LE17 6DH Accountants WRIGHT & CO CHARTERED ACCOUNTANTS 2 Longrood Road Bilton RUGBY Warwickshire CV22 7RG
Page |
Lifebeat
Directors' Report for the Year Ended 31 December 2020
The directors present their report and the financial statements for the year ended 31 December 2020.
Directors of the company
The directors who held office during the year were as follows:
Ms J Smith
Mr B Shah (appointed | February 2020)
Mr P Wozny
Mr H Eddis
Ms R Allanah
Mr M A Burgess (ceased 2 November 2020)
Ms J Hewett (appointed 8 February 2020 and ceased 26 September 2020)
Principal activity
The principal activity of the company is promote educational advancement among young people through the provision of recreational, leisure time activities, provision of support and activities which develop their skills, capacities to enable them to participate in society as mature and responsible adults.
Small companies provision statement
This report has 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.
Approved by the Board on ...22...7.7.4! and signed on its behalf by:
Mr H Eddis Chairman
Page 2
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Lifebeat for the Year Ended 31 December 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lifebeat for the year ended 31 December 2020 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation .
This report is made solely to the Board of Directors of Lifebeat, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lifebeat and state those matters that we have agreed to state to the Board of Directors of Lifebeat, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lifebeat and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Lifebeat has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lifebeat. You consider that Lifebeat is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Lifebeat. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to usand we do not, therefore, express any opinion on the statutory accounts.
WRIGHT & CO CHARTERED ACCOUNTANTS
2 Longrood Road Bilton RUGBY Warwickshire CV22 7RG Date: 0/1 fad.
Page 3
Lifebeat
Profit and Loss Account for the Year Ended 31 December 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Note | £ | £ | |
| Turnover | 226,526 | 172,486 | |
| Cost ofsales | (76,101) | (141,882) | |
| Gross surplus | 150,425 | 30,604 | |
| Administrative expenses | (62,816) | (26,160) | |
| Other operating income | 5,541 | 7,261 | |
| Operating surplus | 93,150 | 11,705 | |
| Other interest receivable and similar income | 104 | 259 | |
| Surplus before tax | 93,254 | 11,964 | |
| Surplus forthe financial year | 93,254 | 11,964 | |
| Theaboveresultswerederivedfromcontinuingoperations. |
The company has no recognised gains or losses for the year other than the results above.
The notes on pages 8 to 9 form an integral part of these financial statements. Page 4
Lifebeat
Statement of Comprehensive Income for the Year Ended 31 December 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Surplus for the year | 93,254 | 11,964 |
| Totalcomprehensiveincomefortheyear | 93,254 | 11,964 |
The notes on pages 8 to 9 form an integral part of these financial statements. Page 5
Lifebeat
(Registration number: 06632229) Balance Sheet as at 31 December 2020
| 2020 | 2019 | ||
|---|---|---|---|
| Note | £ | £ | |
| Current assets | |||
| Cash atbank and in hand | 174,056 | 86,675 | |
| Creditors: Amounts falling due within one year | 3 | (664) | (6,537) |
| Net assets | 173,392 | 80,138 | |
| Capital and reserves | |||
| Profitand loss account | 173,392 | 80,138 | |
| Shareholders'funds | 173,392 | 80,138 |
For the financial year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain 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.
Approved and authorised by the Board on ..2¢:..7.7.%). and signed on its behalf by:
Mr FI Eddis Chairman
The notes on pages 8 to 9 form an integral part of these financial statements. Page 6
Lifebeat
Statement of Changes in Equity for the Year Ended 31 December 2020
| Profit and loss | ||
|---|---|---|
| account | Total | |
| £ | £ | |
| At | January2020 | 80,138 |
| Surplus for the year | 93,254 | 93,254 |
| Totalcomprehensive income | 93,254 | 93,254 |
| At 31 December 2020 | 173,392 | 173,392 |
| Profit and loss | ||
| account | Total | |
| £ | £ | |
| At | January 2019 | 68,174 |
| Surplus for the year | 11,964 | 11,964 |
| Total comprehensive income | 11,964 | 11,964 |
| At31December2019 | 80,138 | 80,138 |
The notes on pages 8 to 9 form an integral part of these financial statements. Page 7
Lifebeat
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
1 General information
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
The address of its registered office is:
STANFORD HALL STANFORD-ON-AVON LUTTERWORTH LEICESTERSHIRE LE17 6DH
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
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. Accounts payable are classified as current liabilities if the company 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, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 8
Lifebeat
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
3 Creditors
| Creditors: amounts falling due within one year | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Due within one year | ||
| Taxation and social security | - | 346 |
| Othercreditors | 664 | 6,191 |
| 664 | 6,537 |
Page 9
Lifebeat
Detailed Profit and Loss Account for the Year Ended 31 December 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Turnover (analysed below) | 226,526 | 172,486 |
| Cost ofsales (analysed below) | (76,101) | (141,882) |
| Gross surplus | 150,425 | 30,604 |
| Gross surplus (%) | 66.41% | 17.74% |
| Administrative expenses | ||
| Employment costs (analysed below) | (43,574) | (9,863) |
| Establishment costs (analysed below) | (664) | (632) |
| General administrative expenses (analysed below) | (18,578) | (15,665) |
| (62,816) | (26,160) | |
| Otheroperatingincome (analysed below) | 5,541 | 7,261 |
| Operating surplus | 93,150 | 11,705 |
| Other interest receivable and similar income (analysed below) | 104 | 259 |
| Surplusbeforetax | 93,254 | 11,964 |
This page does not form part of the statutory financial statements. Page 10
Lifebeat
Detailed Profit and Loss Account for the Year Ended 31 December 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Turnover | ||
| Donations | 1,944 | 100 |
| Corporate sponsors | 2,025 | 50,000 |
| Camp fees received | - | 3,880 |
| Lifebeat community fund sponsors | 11,400 | 24,147 |
| Midlands Hub 2020 income | 1,076 | is |
| Trusts& foundations | 48,320 | 20,000 |
| Trainingworkshops | 4,255 | 4,860 |
| SW Regional Hub earned income | 107,400 | 37,500 |
| HN Individuals/Patrons | - | 31,999 |
| BigGive campaign | 50,106 | - |
| 226,526 | 172,486 | |
| Cost ofsales | ||
| Camp running expenses | (3,488) | (39,250) |
| CP Training&workshop expenses | (810) | (4,858) |
| Youth Council programme | (1,236) | (100) |
| Outreach& partnerships | (17,250) | (1,439) |
| SW RegionalHub expenditure | (29,263) | (63,069) |
| Anti racism programme | (5,580) | - |
| Programme training& development | (13,186) | - |
| Midlands Hub 2020 | (1,198) | - |
| Youth leadership project | (4,090) | (33,166) |
| (76,101) | (141,882) | |
| Employment costs | ||
| Projectmanager | (12,250) | - |
| Administrator | (6,000) | - |
| Pensions | (1,444) | (863) |
| Accounting | (5,650) | (5,400) |
| Development & fundraising officer | (18,230) | (3,600) |
| (43,574) | (9,863) | |
| Establishment costs | ||
| Insurance | (664) | (632) |
This page does not form part of the statutory financial statements. Page 11
Lifebeat
Detailed Profit and Loss Account for the Year Ended 31 December 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| General administrative expenses | ||
| Subscriptions & affiliations | (402) | (203) |
| Reunion | - | (1,946) |
| Travelandsubsistence | G1) | (555) |
| Miscellaneous | (440) | - |
| Office costs London | (7,944) | (3,933) |
| Marketing& communication | (1,271) | - |
| Safeguarding& child protection | = | (3,392) |
| Development expenses | (7,228) | (3,996) |
| Finance&payroll costs | (1,242) | (1,640) |
| (18,578) | (15,665) | |
| Other operatingincome | ||
| Gift aid | 5,541 | 7,261 |
| Other interest receivable and similar income | ||
| Bankinterestreceivable | 104 | 259 |
This page does not form part of the statutory financial statements. Page 12
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E CHARITY COMMISSION
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Independent examiner's. report on the accounts
Section A
Independent Examiner's Report
Report to the | © so" trustees/directors/ members of LIFE BEAT On accounts for the year Charity no.: Company no.: 112. SEBO 6632229 | report to the charity trustees on my examination of the accounts of the Company for the year ended » Responsibilities and As the charity's trustees of the Company (who are also the directors of the basis of report company 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 accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, | 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, | have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. Independent [The company’s gross income exceeded £250,000 and | am qualified to examiner's statement = undertake the examination by being a qualified member of [insert name of applicable listed body]]. Delete [ ] if not applicable. | have completed my examination. | confirm that no material matters have come to my attention (other than that disclosed below ) which gives me cause to believe that: * accounting records were not kept in accordance with section 386 of the Companies Act 2006; or * the accounts do not accord with such records; or * the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 the accounts have not been prepared in accordance with the Charities SORP (FRS102).
IER
1
October 2018
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
- Please delete the words in the brackets if they do not apply.
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Signed: Date: 1) SEPT 202)
Relevant professional .
qualification(s) or body CoVPA 5 SEC PET A esR .
(if any):
Nerd SWORETT
Suaweoro, LG\4 lb.
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern
(see CC32, Independent examination of charity accounts: directions and
guidance for examiners).
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Give here brief details of
any items that the
examiner wishes to
disclose.
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IER
2
October 2018