Charity registratlon number 1145598 (England and Wales) Company registratlon number 07626625 Positive Futures North Liverpool Limited AMENDED Annual report and financlal statements For the year ended 31 March 2024 Positive Futures North Liverpool Limited AMENDED Legal and administrative Information Trustees P A Kennedy C McKune MBE G J Morrls OBE S D Malone (Appointed 5 September 2023) (Appolnted 25 September 2024) N Hidderley Senlor management C Corran K Harrls p stubbs CEO Head of Operatlons Team Leader Charlty number (England and Wales) 1145598 Company number 07626625 Reglstered offlce 181 Townsend Lane Clubmoor Llverpool L13 9DY Audllor DJH Audlt Llmlted Brldge House Ashley Road Hale Altrlncham WA14 2UT Bankers Co-operatlve Bank PO Box 250 Dolf House Southway Skelmersdale WN8 6WT Positive Futures North Liverpool Limited AMENDED Contents Page Trustees report Statement of Trustees responslbllitles Independent audltor's report statement of flnanclal actlvliles io-ii Balance sheet 12 statement of cash flows 13 Notes to the flnanclal statements Positive Futures North Liverpool Limited AMENDED Trustees report (including directors. report) For the year ended 31 March 2024 The Trustees present their annual report and finandal statements for the year ended 31 March 2024, The flnancial sLatements have been prepared in accordance wlth the accountlng policles set out In note I to the flnanclal statements and comply wllh the Charlty's governlng document, the Companles Act 2006 and "Accountlng and Reportlng by Charltles: Statement of Recommended Practlce appllcable to charltles preparlng thelr accounts In accordance wlth the Financlal Reportlng Standard appllcable In the UK and Repub15c of Ireland (FRS 102) (effectlve l January 2019)" Objectlves aiid activltles The charlty operate5 princlpally in Liverpool, Knowsley, Sefton and Wirral and Its objectlves are., To act as a resource for young people up to the age of 25 livlng In the Unlted Klngdom, by provldlng advlce and asslstance and organlzlng programmes of physlcal, educatlon and other actlvltles as a means of., Advandng In Ilfe and helping young people by developlng thelr skills, capacltles and capabilltles to enable them to partidpate In soclety as an Independent, mature and responslble Indlvldual. b) Advanclng educatlon. Tackllng worklessness. Provldlng recreations and lelsure tlme act5vlty of social welfare for people in the area of benefit who have need by reason of thelr youth, age, Inflrmity or disabilltyi poverty or soclal and economic drcumstsnces wlth a vlew to Improvlng condltion5 of Ilfe of such persons. d) Such charltable ptjrposes for the publlc beneflt are excluslvely charltable accordlng to the laws of England and Wales as the trustees may from time to tlme determlne. Since Inceptlon, the organlzatlon has won contra¢ts from Children In Need, Comlc Relief, European Soclal Fund, Llverpool Clty Councll, Houslng Assoclatlons and private foundatlons to name a few. In total nearly £10 mllllon pounds worth of Investment has touched the Ilves of over 10,000 young people. We seek to enable disadvantaged young people to achleve their full potentlal through our framework of ngage, Educatlon, Enterprlse and Empower. Pub nefit When planning and programmlng actlvltles for the local resldents of Llverpool, the Trustees of Posltlve Futures North Liverpool Llmlted are mindful of the Charity CommSsslons gu Idance on Publlc Beneflt. The Trustees have pald due regard to guldance Issued by the Charity Commission In decldlng what acllvltles the Charlty should undertake. ofvo eers Volunteers are usually, allhoug h not excluslvely, young people. They support the youth activltles, help out wlth paper work, planning sesslons and supporting younger chlldren. Positive Futures North Liverpool Limited AMENDED Trustees report (including directors. report) (contlnued) For the year ended 31 March 2024 Achievemertts and performance Thls years strateglc highllght has undoubtedly been the successful Idenliflcatlon, applicatlon and securlng OF capltal funds, culrninating In the refurbishment and relocatlon to a new "fil for purpose bulldlng. Thls achlevement, In our 19th year of operation, marks a slgnlficant mllestone for our team and represents a major step forward In the services we can offer to the young people we support. In addltlon, we proudly purchased our second home for use by Posltlve Futures Homes, our Ofsted- reglstered chlldren's homes soclal enterprlse. The development of thls enterprlse Is essential to the long- lerm sustalnablllty of our charlty, as It allows us to genernte Income, Operatlonallyi the exceptlonal results of our 18-month Transitlons pllot, hlghllghted In our Impact Repoi't by Professor K, Stuart, stand as a testament to our IntuStlon, emplrlcal evldence and innovation In the fleld. Transltlons worked wlth some of the most disadvantaged, "severely absent" puplls, helplng them to return to educatlon and stay engaoed. We addressed barrlers not only for the young people but also for thelr famllles, offerlng support around mental health, behavloral Issues, poverty and houslng challenges, among others/ The results speak for themselves - here are two key outcomes: Attendance Improved lor all young people who successfully engaged In the project wlth 750/0 havlng an 80% or hlgher attendance rate at exlt and Improvements In attendance for all cases that are on-golng. A total of J.3 young people across the project had Increased Ihelr attendance from 75% to 850h, four young people had Increased to between 86% and 950h attendance, and 15 young people had attendance as hlgh as 95Va to IOOO/o. We are currently In the process of commlsslonlng thSs servlce wlth key stakeholders. Over the course of the last year, we have experienced challenges In the recrultment of experlenced Youth Development workers. Austerityi the Impact of COVID-19 and a lack of Investment In tlie sector over the past decade have created a slgnlficant recruitment gap. Whllst we remaln commltted to employlng and trainlng apprentices and further developlng our current team, there Is stlll a shortage of experlenced professlonals In the fleld. We contlnue to seek fundlng from the Government, Twsts, and Foundatlons to ensure the sustalnable dellvery of our servlces. However, thls becomlng Increasingly challenglng as competition for limlted fundlng Intensifies In the current cost-of-llving crlsls. 51 We do not undertake major fundraislng from the general publlc. We do ralse money from trusts and foundatlons. We attempt to malntaln current Income at stable rates. Financlal review Our funders have contlnued to be supportive durlng this turbulent period, granting the charlty funds to deliver on our objectives. Remainlng aglle, the charlty has malntalned its fund-raising actlvltles and sought addltlonal funds to support the challenges young people have faced. We contlnue to seek fundlng from GovernmenL, Trusts and Foundations to malntain sustalnable servlce dellvery. We contlnue to be grateful for their support and are satlsfled with our flnandal performance. Positive Futures North Liverpool Limited AMENDED Trustees report (including directors, report) (continued) For the year ended 31 March 2024 Reserv ic The Trustees have examlned the charlty's requlrements for reserves In Ilght of the maln rlsks to the organlsatlon, logether with the on-going economlc uncertainty. We know we do great thlngs that have a reèl Impact on the young people and communltles wlth whom we Interact. Our reserves pollcy has I'o recognise that due to the tenuous nature of our funding, whlch can be prone to large swlngs, as a result of changes in government fundlng at short notlce. We therefore believe that for our lon9-term sustainabllltyi thSs requires us to hold larger reserves so we can wlthstand these short-term aberratlons. The Trustees have establlshed a pollcy whereby the unrestricted funds not commltted or Invested In tanglble fixed assets held by the charlty should be 6-9 months of the expendlture, plus any subsequent wlnd down cost5, Based on the budgeted monthly fixed overhead expendlture for 202312024, plus the estimated wlnd-up costs, thls figure 15 £25Q,000 - £300,000. The reserves are needed to meet the warklng capital requirements of the charlty and the Trustees are confident that at thls level they would be able to contlnue the current activltles of the charlty in the event of a signlflcant drop In fundlng. The present level of unrestrlcted reserves avallable to the charlty of £117,879 Is belaw the target level. The Charlty establlshed Posltlve Futures Homes as a commer¢lal enterprise a Ilttle over 2 years ago. This buslness Is due to open Its second home In January 2025 whlch wlll further enhance the surplus generated from thls enterprise. The surpluses from thls business are avallable for dlstrlbutlon to Posltlve Futures and as such would act as a further source of revenue for the Charlty whlch, If requlred, would Increase the level of unrestrfcted reserves, Plans for future perlods The trustees and management continue to set a clear strategy for the Charlty. To enable and strengthen the on-golng sustalnabillty of the Charlty and Increase dellvery and outcomes, we wlll seek to wlden our fundlng streams by strengthenlng our marketlng capability and Increaslng our proflle to exlsting and potential new funders. Thls will enable us to clearly artlculate the Impact we have on young people In the clty. Posltlve Futures Homes remalns fundamental to our future. We purchased our second home durlng the year whlch wlll support our sustalnabillty plans. StructureR governance and inanagement The organlsatlon, which is a registered charity Ilmlted by guarantee (number 1145598) was Incorporated on 9 May 2011. The governlng document Is the company's memorandum and art'lcles of association (reglstered number 07626625), Every member of the charlty undertakes to contribute to the assets of the socletyi In the event of belng wound up while he or she Is a member or wlthln one year of ceaslng to be member, such amount as may be requlred, not exceeding £1. The Trustees, who are also the dlreclors for the purpose of company law, and who served durlng the year and up to the date of slgnature of the financlal statement5 were. P A Kennedy C McKune MBE G J Morrls OBE C Williams A E Wllls CBE S D Malone N Hldderley (Reslgned 22 January 2024) (Resigned 20 January 2025) (Appointed 5 September 2023) (Appointed 25 September 2024) Positive Futures North Liverpool Limited AMENDED Trustees report (including directors. report) (continued) For the year ended 31 March 2024 Method and recruitment of trustees Trustees wlll approve the retlrement of exlstlng Dlrectors andlor the recrultrnent of new Trustees In accordance wlth the Artlcles of Assoclatlon. Inductlon and training of new trustees Trustees are appolnted on the basls of their ablllty to brlng to the board a range of skllls to asslst In the governance and development of the CharSty. Before appolntment, they are gulded by the General Manager through a comprehenslve Induction procedure deslgned to glve them a complete understandlng of the aims and asplratlons of the Charlty. In addltlon, Charlty Commlsslon literature is glven to all Trustees on an on-golng basls In order to asslst them to understand their legal responslbllltles. Organisatlon Posltlve Futures North Llverpool Llmlted has a board who meet at least 6 tlmes per year and are responslble for the strateglc dlrectlon and policles of the charlty. Dlrectors derlve no belleflt, income or capltal from the charlty. Many day-to-day declslons are delegated to the Chlef ExecLfjtlve, Clare Corran and tha admlnlstratlon Includlng recrultment and day to day flnanclal operatlons. Rlsk management The Dlrectors have examSned the major strateglc, buslness and operational rlsks whlch the charlty faces and confirm that systems have been established to enable regular revlews and actlons to mltlgate rlsks. Potentlal rlsks Identlfled by the Trustees to the constltutlon of the Assoclatlon's actlvltles are: l. Loss of fundlng streams 2. Fallure of Posltive Futures Homes venture 3, Loss of access to adequate levels andlor Inexperlenced staff The Trustees have sought to mlnlmlse these rlsks in the followlng ways: The Trustees and staff are constantly seeklng out new avenues of funding. They also ensure rlgorous systems are In place for collectlng monltorlng Informatlon In accordance wlth the requlrements of its funders Malntalnlng approprlate financial control in order to satisfy fundlng regulatlons and malntaln posltlve relatlonships wlth fundlng organlsatlons The Trustees and experlenced staff have made prudent assumptlons, assessed the rlsks and have rlgorous assurance and financlal control mechanlsms in place PF offers a comprehenslve fralnlng and development programme and contlnuously revlews remuneratlon packages for staff. We recognise the natlonal demand for talented people and therefore look to make our tralnlng, development and retention programmes to be of the hlghest standard. Remuneratlon pollcy The CEO prepares a paper report for the board to make declslons on pay and remuneratlon. Voluntary Sector CEO Annual Salary Report is used for management benchmarklng and Human Performance HR servlces provlde a sector-based survey for other team member benchmarks. Positive Futures North Liverpool Limited AMENDED Trustees report (including directors, report) (continued) For the year ended 31 March 2024 Relatlonship wlth wider network8 The charity has key relatlonshlps wlth UK Youth, LCVS and Natlonal Youth Agency (NYA). Slgnlflcanl partnershlps exlst across all sectors. statutory {pollce, youth offendlngi Youth servlces, social servlces), Trusts & Foundatlons (funders), Schools and voluntary sector agencles In the youth space, Small ¢ompanies exemption Thls report has been prepared In accordance wlth the provlslons appllcable to companles entltled to the small companles exemptlon. Audltor In accordance wlth the company's artlcles, a resolutlon proposing that DJH Audlt Llmlted be reappointed as audltor of the company wlll be put at a General Meetlng. The Trustees report was approved by the Board of Trustees. Cdett&dtycK_ C McKune M8E Trustee 3110712025 Date; Positive Futures North Liverpool Limited AMENDED statement of trustees reponsibilities For the year ended 31 March 2024 The Trustees, who are also the directors of Posltlve Futures North Liverpool Limited for the purpose of company law are responslble for preparlng the Trustees Report and the flnanclal statements In accordance wlth applicable law and Unlted Kingdom Accounting Standards {Unlted Kingdom Generally Accepted Accounllng Practlce). Company Law requires the Trustees to prepare financlal statements for each flnanclal year whlch glve true and falr vlew of the state of affalrs of the Charity and of the Incomlng resources and appllcatlon of resources, Includlng the Income and expendlture, of the charltable company for that year. In preparlng these flnanclal statements, the Trustees are requlred to: select sultable accountlng pollcles and then apply them conslstentlyi observe the methods and prlnclples In the Charltles SORP; make Judgements and estlmates that are reasonable and prudent; state whether appllcable UK Accountlng Standards have been followed, subject to any material departures dlsclosed and explalned In the flnanclal statements; and prepare the flnanclal statements on the golng concern basls unless It Is Inapproprfate to presume that the Charlty wlll contlnue In operatlon. The Trustees are responslble for keeplng adequate accountlng records that dlsclose wlth reasonable accuracy at any time the financlal posltlon of the Charity and enable them to ensure that the flnanclal statements comply wlth the Companles Act 2006. They are also responslble for safeguardlng L'he assets of the Charlty and hence for taking reasonable steps for the preventlon and detectlon of fraud and other irregularltles. The trustees are re5ponslble for the malntenance and integrity of the corporate and financlal Informatlon included on the charltable company s webslte. Leglslatlon in the Unlted Kingdom governing the preparatlon and di5semlnatlon of financlal statements may dlffer from leglslatlon In other jurlsdictlons. Company law requlre5 the Trustees to prepare flnanclal statements for each flnanclal vear which glve a true and falr vlew of the state of affalrs of the Charlty and of the incomlng resources and applicatlon of resources, Includlng the income and expendlture, of the charltable company for that year. In preparlng these flnanclal statements, the Trustees are requlred to.. select sult3ble accountlng policies and then apply them conslstentlyi observe the methods and prlnciples In the Charltles SORP; make Judgements and estlmates that are reasonable and prudent. state whether appllcable UK Accountlng Standards have been followed, subject to any materlal departures dlsclosed and explalned In the flnanclal statements; and prepare the flnanclal statements on the golng concem basls unless It Is Inapproprlate to presume that the Charlty wlll contlnue In operatlon. The Trustees are responslble for keeplng adequate accountlng records that dlsclose with reasonable accuracy at any tlme the financial posltlon of the Charity and enable them to ensure that the flnanclal statements comply with the Companies Act 2006. They are also responslble for safeguardlng the assets of the Charity and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other Irregularitles, Positive Futures North Liverpool Limited AMENDED Independent auditor's report To the Trustees of Positlve Futures North Llverpool Limited Oplnion We have a udlted the financlal statements of Positlve Futures North Llverpool Limlted (the 'Charlty') for the year ended 31 March 2024 whlch comprlse the statement of financlal activltles, the balance sheet, the statement of cash flows and notes to the fln4nclal statements, Includlng slgnlflcant accountlng pollcles. The rinanclal reportlng framework that has been applled In thelr preparatlon Is appllcable law and United Klngdom Accountlng Standards, Includlng Flnanclal Reportlng Standard 102 The Flnancial Reporting Standard applicable in the UK and Republic of Ireland (Unlted Klngdom Generally Accepted Accountlng Practlce). In our oplnlon, the financlal statements: glve a true and falr vlew of the state of the charltable company's affalrs as at 31 March 2024 and of Its Incomlng resources and appllcatlon of resources, for the year then ended; have been properly prepared In accordance wlth United Klngdom Generally Accepted Accountlng Practlce,. and have been prepared In accordance wlth the requlrements of the Companies Act 2006. Basls for oplnlon We conducted our audlt In accordance wSth International Standards on Audltlng (UK) (ISAS (UK)) and appllcable law. Our responsibllltles under those standards are further descrlbed In the Audltor's responslblllties for the audlt of the flnanclal statements sectlon of our report. We are Independent Df the Charlty In accordance with the ethlcal requlrements that are relevant to our audlt of the financSal statements In the UK, Includlng the FRC'S Ethlcal Standard, and we have fulfllled our other ethlcal responslbllltles In accordance wlth tliese requlrements. We belleve that the audlt evldence we have obtalned is sufflclent and approprlate to provide a basls for our oplnlon. Conclusion8 relatlng to golng concern In audltlng the flnanclal statements, we have concluded that the Trustees use of the golng concern basls of accou ntlng In the preparatlon of the flnanclal statements Is approprlate. Based on the work we have performed, we have not identlfled any materlal uncertalntles relatlng to events or condltlons that, indlvldually or collectlvelyi may cast slgnlflcant doubt on the Charlty's abillly to contlnue as a golng concern for a perlod of at least twelve months from when the flnancial statements are authorised for Issue. Our responslbllities and the responslblllties of the Trustees wlth respect to going concern are descrlbed In the relevant sectlons of this report. other informatlon The other informatlon comprises the Informatlon Included In the annual report other than the flnanclal statements and our audltor's report thereon. The Trustees are responsible for the other Information contained withfin the annual report. Our oplnion on the flnanclal statements does not cover the other Informatlon and we do not express any form of assurance conclusion thereon. Our responslbSllty Is to read the other Information and, In dolng 50, consider whether the other Information is materially Inconslstent wlth the financlal statements or our knowledge obtalned In the course of the audit, or otherwlse appears to be materlally mlsstated. If we identify such materlal Snconsistencles or apparent materlal mlsstatements, we are required to determine whether this glves rise to a material rnlsstatement In the financial Statements themselves. If, based on the work we have performed, we conclude that there Is a materlal mlsstatement of thls other Informatlon, we are requlred to report that fact. We have nothlng to report In this regard. Positive Futures North Liverpool Limited AMENDED Independent audltor's report (continued) To the Trustees of Positlve Futures North Liverpool Limited Matters on whlch we are requlred to Yeport by exception We have nothlng to report In respect of the following matters in relatlon to whlch the Charltles (Accounts and Reports) Regulatlons 2008 requires us to report to you If, In our oplnlon: the Informatlon given In the financlal statement5 is Inconslstent In any materlal respect wlth the Trustees report. or sufflclent accountlng records have not been kept; or the flnanclal Statements are not In agreement with the accountlng records. or we have not recelved all the informatlon and explanatlons we requlre for our audSt. Responsibllltles of Trustees As explalned more fully In the statement of Trustees responsibllltles, the Trustees, who are also the dlrectors of the Charlty for the purpose of company law, are responslble for the preparation of the flnancial statements and for belng satlsfled that they glve a true and falr vlew, and for such Internal control as the Trustees determlne Is necessary to enable the preparatlon of financlal statements that are free from materlal rnlsstatement, whether due to fraud or error. In preparing the flnanclal statements, the Trustees are responslble for assesslng the Charity's ablllty to contlnue as a golng concern, dlscloslngl as appllcable, malters related to going concern and uslng the golng concern basls of accountlng unless the Trustees elther Intend to Ilquldate the charltable company or to cease operations, or have no reallstlc alternatlve but to do so. Audltor's responslbllltles for the audlt of the flnancial statements We have been appointed as audltor under section 144 of the Charltles Act 2011 and report In accordance wlth the Act and relevant regulation5 made or havlng effect thereunder. Our objectlves are to obtaln reasonable assurance about whether the flnanclal statements as a whole are free from materlal mlsstatement, whether due to fraud or error, and to Issue an audltor's report that Includes our oplnlon. Reasonable assurance is a hlgh level of assurance but Is not a guarantee that an audlt conducted In accordance wlth ISAS (UK) wlll always detect a materlal mlsstatement when it exlsts, Misstatements can arlse from fraud or error and are consldered material If, Indlvldually or In the aggregate, they could reasonably be expected to Influence the economic declslons of users taken on the basls of these flnanclal statements. The extent to whlch our procedures are Capable of detectlng irregularltles, Includlng fraud, Is detailed below. Our approach to Identlfying and assesslng the rlsks of materlal misstatement In respect of 1r￿guI8r1t[es, Includ Ing fraud and non-compllance wlth laws and regulatlons was as follows,. The engagement partner ensured that the engagement team collectlvely had the approprlate competence, capabilitie5, and skllls to Identlfy or recognlse non-compllance wlth appllcable laws and regulatlons. We Identifled the laws and regulatlons appllcable to the charlty through dlscusslons wlth management, and from our prevlous knowledge and experlence of charltles In slmllar sectors, We assessed the extent of compllance with the laws and regulatlons Identlfled through maklng enqulrles of management and Inspectlng any avallable legal correspondence. The audlt team were in regular communlcatlon in relatlon to laws and regulatlons and potenllal iiistances of non-compliance throughout the audit, Positive Futures North Liverpool Limited AMENDED Independent auditor's report (continued) To the Trustees of Positive Futures North Liverpool Limited We assessed the susceptlblllty of the charlly's financlal statements to materlal mlsstatement, includlng obtainlng an understandlng of how fraud mlght occur, by: Maklng enqulrles of management as to where they consldered there was susceptlblllty to fraud and thelr knowledge of actual, suspected, or alleged fraud. Conslderlng the Internal controls In Pla￿ to mitlgate the rlsks of fraud and non-¢ompllance wlth laws and regulatlon. To address the rlsk of fraud through management blas and overrlde of controls, we.. Performed analytlcal procedures to Identlfy any unusual or unexpected relatlonshlps. Tested Journal entrles to Identify unusual transactlons, Assessed whether judgements and ossumptions made In determlnlng accountlng estlmates were indlcatlve of potentlal blas. Investlgated the ratlonale behlnd signlflcant or unusual transactions. Performed walkthrough tests of on major transaction cycles. In response to the rSsk of Irregularltles and non-compllance wlth laws and regulatlons, we designed procedures which Included, but were not Ilmited to: Agreelng flnanclal statement dlsclosures to underlylng supportlng documentatlon, Enqulrlng of management as to actual and potentlal litlgatlon and clalms. Revlewing legal and professlonal expenses for potentlal ongolng 1Stlgatlon work. Revlewlng correspondence wlth HMRC and other professlonal advlsors. A further descriptlon of our responslbllltles Is avallable on the Flnanclal Reportln9 Council s webslte al: https:Ilwww.frc.org.uklaudltorsresponslblllties. Thls descrlptlon forms part of our aud Itor's report. other matters The financlal statements for the year ended 31 March 2023 were not audlted. Accordlnglyi our opinlon on the current year's flnanclal statements does not extend to the comparatlve Informatlon. Use of our report Thls report is made solely to the charity's trustees, as a body* In accordance wlth Part 4 of the Charltles (Accounts and Reports) Regulatlons 2008. Our audlt work has been undertaken so that we mlghl state to the charity'5 trustees those matters we are requlred to state to them In an auditor's report and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responslbSllty to anyone other than the charlty and the charlty s trustees as a bodyi for our audlt work, for thls report, or for the oplnlons we have formed. DJV 4&e,L.A Christopher Abbott FCA (Senior Statutory Auditor} For and on behalf of DJH Audlt Llmited, Statutory AudFtor Brldge House Ashley Road Hale Altrlnchaffl WA14 2UT Date; ..31..1..2&26.,..... DJH Audit Limited Is eliglble for appointment as audltor of the Charity by vlrtue of Its ellglbility f'or appalntment as audltor of a company under sectlon 1212 of the Companles Act 2006. Ln ￿ o) r4 Positive Futures North Liverpool Limited AMENDED Balance sheet As at 31 March 2024 2024 2023 Notes Flxed assets Tang Ible assets 13 707,530 252,013 Current assets Debtors Cash at bank and In hand 14 321,017 362,454 279,284 424,13S 683,471 703,419 Credltors: arnounts falling dué wlthln one year 16 (113,855) (10,491) Net current assets 569,616 692,928 Total assets less current Ilabilities 1,277,146 944,941 Credltors: amounts falllng due after more than one year 17 (212,450) Net assets 1,064,696 944,941 The funds of the Charlty Deslgnatod funds Restrlcted Income funds Unrestricted funds 19 20 18 S12,083 434,734 117,879 491,010 262,559 191,372 1,064,696 944,941 The company Is entitled to the exemptlon from the audlt reqUI￿rnent contained In sectlon 477 of the Companles Act 2006, for the year ended 31 March 2024. The dlre¢tors acknowledge thelr responslbllltles for complying wlth the requlrements of the Companles Acl 2006 wlth respect to accountlng records and the preparatlon of flnancial statements. The member has not requlred the company to obtaln an audlt of its flnanclal statements under the requirements of the Companles Act 2006, for the year In questlon In accordance wlth sectlon 476. These ftnanclal statement5 have been prepared In accordance wlth the provlsions applicable to companles subject to the small companles reglme. 3110712025 The financial statements were approved by the Trustees on C Mcl 434,734 23- POSITIVE FUTURES NORTH LIVERPOOL LIMITED AMENDED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 20 Restrlcted funds (Continued) Prevlous year: At l Aprll 2022 Incomlng resources Resources expended Transfers At 31 March 2023 133,190 27,765 87.279 14,325 Engage Enlerprlse Educate Empower 54,308 7.393 1,9l7 43,787 278,821 ioo,ooi 160,300 7S,IXIO (245,4621 (79,629) {72,438) (97,7951 45,523 (2,500) (6,667) 107,405 614,122 {495,324) 36,356 262,559 Restrlcted funds are those glven to us by Indlvldual foundatlons and trusts to be spent according to the orlt3inal blds applled for. They relate to youth development actlvitles. We recelved funds for out 4 major programmes 'Engage" "Enterprlse" "Educate. and "Empower" ad would Ilke to thank all the followlng donors for thelr support In enabling us to carry out our work: ADHD Foundatlon C¢mmunlty Foundation for Merseyside HAF Dlgltal Connectivlty Grant Frank Rogers Foundation John Armltage Charltable Trust Liverpool Clinlcal Commlsslonlng Group (Llverpool Green Space & Health Project MPAC Project Medusa - operatlon Stonehaven (Merpol) Merseyslde Pollce & Crlme Commlssloner St James Place steve Morgan Foundatlon The Bl9 Lottery Fund The Stone Foundatlon Torus Foundation UK Gov 24- POSITIVE FUTURES NORTH LIVERPOOL LIMITED AMENDED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 21 Analysls of net assets between funds Unrestricted Deslgnated funds funds Restrictod Endowment funds funds Total 2024 2024 2024 2024 2024 At 31 March 2024: Tanglble assÉts Current assetsl{Ilabilltles) Long tetm liabllltles 5,778 112,102 530,811 193,722 (212.450) 170,941 263,793 707,530 569,616 {212,450) 117,879 512,083 434,734 1,064,696 Unrestrfcted fund$ Deslgnated funds Restrlcted En(Jowmént funds funds Total 2023 2023 2023 2023 2023 At 31 March 2023: Tanglble assets Current assetsl(Ilabilltles) 280 236,526 254,484 15,207 247,352 252,013 692,928 191,092 191,372 491,010 262.559 944.941 22 Operating lease commltments Lessee At the reportlng end date the Charlty had outstandlng commltments for future mlnimum lease payments under non-cancellable operating leases, whlch fall due as follow5.. 2024 2023 Within one year Between two and flve years In over flve years 44,000 176.000 165,000 385,0(KJ 25- POSITIVE FUTURES NORTH LIVERPOOL LIMITED AMENDED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 23 Related party transactions Transactlons with related partles During the year the Charity entered Into the followlng transactlons with related partles: The charlty rents out premlses to Posltlve Homes for Positive Futures Limlted, a company wlth common dlrectors. Rental Income recelved durlng the year was £10,512 (2023.. £10,302) At the balance Sheet date £260,352 (2023.. E269,685) was due from Positive Homes for Posltlve Futures Llmlted. The majorlty of the loan attracts Interest at 30/0 per annum, wlth the remainder attractlng Interest of 8% per annum, Thls loan Is not expected to be recovered in the short term. Interest receivable durlng the year was £10,666 (2023: £9,881). During the year, the charity entered Into a £300,000 loan wlth Seascapo Capltal Holdings 3 Llmlted, a company registered In the Isle of Man, whlch one of the trustees Is a director. Further detalls are dlsclosed In note 15. Durlng the year the charlty purchased advertlslng and marketlng servlces totalllng £10,432 from Inprova Llmlted a company whlch one of the trustees Is a dlrector. All transactlons are considered to be at arms length. 24 Cash geiiératèd from operatlons 2024 2023 Surplus for the year 119,755 88,081 Adjustments for: Investment Income recognised In statement of flnanclal actlvltles Depreclatlon and Impalrment of tangible fixed assets (17,744) 19,902 (20,183) Movements in worklng capital: (Increase) In debtors Increasel(decrease) In credltors (41,733) 43,115 (38,731) 14,204) Cash generated from operations 123.295 52,345 26- POSITIVE FUTURES NORTH LIVERPOOL LIMITED AMENDED Notes to the financial statements (continued) FOR THE YEAR ENDED 31 MARCH 2024 25 Analysis of changes in net funds At l Aprll 2023 Chsh flowsAcqulsltlons and Oi5posa15 At 31 March 1024 Cash at bank and In hand 424,135 (61,681) 362,454 Loans falllng due wlthln one year Loans falllng due after more than one year 239,750 (212,450) {300,000) (60,250) {212,450) 424,135 (34,381) (300,0001 89,754 26 Reflllng of Amended Flnanclal Statements These financlal statements replace the orlglnal flnanclal statements for the year ended 31 March 2024, whlch were approved by the Board of Directors on 18 December 2024. The orlglnal flnanclal statements have been amended and relssued due to breachlng the audlt threshold, yet an audlt had not been completed. The charlty has also commenced wlth thelr own Internal flnance and governance revlew such that slmilar matters can be avolded In the future. The amended flnanclal statemep,ts now Indude an audit report followlng completlon of audlt procedures. A number of adjustment5 have also been made to financlal statements as a consequence of the audlt, whlch have Impacted the flnanclal informatlon dlsclosed In the statement of flnanclal actlvltSes, balance sheets, statement of cash flows and supporting notes. The nature of the adjustments made Is as follows: Correctlon of revenue recognltlon errors. Increased accrLJals for additional costs. Capltallsatlon of Items previously classed os revenue expendlture. Incluslon of a credlt note provlslon at the year end. Addltlonal depreclatlon charged on land and bulldlng assets. Dlsclosure of addltlonal related party transactlons. The amendments have resulted in the following changes to prevlously reported flgures: Total income As origlnally reported £1,014,148 Adjustments - {£81,290) As restated £932,858 Net incoming resources As orlglnally reporled - £72,472 Adjustments - £56,745 As restated - £129,217 Net assets As origlnally reported - £1.017,413 Adjustments - £47,283 As restated - £1,064,696 27- 14 July 2025 STRICTLY PRIVATE AND CONFIDENTIAL Charity Commission POBox211 Bootle L20 7YX djh To Whom it May Concern POSITIVE FUTURES NORTH LIVERPOOL LIMITED (charity number 1145598) We have recent5y been conlacted by the new Chief Executive Officer ICEOI of Positive Futures North Liverpool Limiked. in order to correcl financial information submitled to trhe Charity Commission incorreclly. The CEO had been conducting an internal review into the charily's financial position and govemance processes. During this review, it was identified that the charily's income for the year ended 31 March 2024 had breached the audit threshold of £1 million by approximately £14.(YJO. Despite Ihis, an independent examination had been performed as opposed to a full statutory audit which was requiied by charily law. Upon discovery, Ihe Irustees look immediale action by contacling DJH 8usiness Advisers Limited with whom they had been engaged for the preparation of the financial statements and independent exomination. To rectify this oversighl, we have orronged an immediate statutory audil of the financial slatements in full compliance with Inlernational Auditing Standards. 11 is our intention that the financial statements for the year ended 31 Morch 2024 are to be refiled as on audited set of financial statements as soon as possible. On receipl of this letter. please can the record be opened such that the accounts filed for the year ended 31 Morch 2024 can be removed and amended accounts may be filed in their place. If there are any questions or requirements for the provision of additional detail. please do not hesilate to contacl us. Yours laithfullv DJH 8uJiniss JdrfiSAfJ Limilod DJH 8usiness Advisers Limited QrfOtki* Everyone Deserves a Chance POSITIVE FUTURES l ivc-rp<)Oi, Ll? 9D'i J151 i.117 6001 inlofc300siljiJefLiliifPs.oro Lili www.positivefutures.org.uk 30¢h July 2025 Re.. Changes to the StatutoryAccounts of Positive Futures for the Year Ending 2024 In early 2025, following changes in the senior management team, it came to light that the statutory accounts for the year ending 2024 had not been subject to a full audit, despite the organisation's turnover exceeding £1 m. On being made aware of this issue, the trustees immediately re-engaged with the firm that had conducted the Independent Examination in 2024. They confirmed that a fuLI audit should have taken place. and a retrospective audit was therefore commissioned without delay. The enhanced level of scrutiny provided bythe audit identified a number of errors and issues. The trustees took the prudent decision to correct these and restate the accounts. The Charity Commission was advised, and arrangements were made to reopen the portal so the existing 2024 accounts could be withdrawn and replaced with the restated version. This action was taken to ensure that the accounts present a true and fair piGture of the organisation's financial position for 2024. Alongside this process, the trustees have engaged a speciaList in charityfinance and governance to undertake a full review of Positive Futures, financial systems, processes, policies, and procedures. The recommendations from this reviewwill form the basis of a comprehensive action pLan to strengthen internal controls and governance. The trustees are committed to ensuring these errors are not repeated and that future statutory accounts meet the highest standards of accuracy, transparency. and compliance. Kind regards, Hannah Allen Group CEO Chanty r¢gistra1¥)n llLthr 1145W I Companylimited bYgua￿tee Njmber 0762E625 ENGAGE