Charity Registration No. 1147780 Company Registration No. 80697S6 (England and Walasl IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE LEGAL AND ADMINISTRATIVE INFORMATION Tru5tee$ Mr C Bulland Mrs Rachel Cole Mr Thomas Drury (Chairl Mr John Gibson Mrs Alison Hughes Mrs Lisa Orange Mr James Sloan (Appointed 2 February 20201 Charlty number 1147780 Company numb•r 8069756 Rgglstargd offico Frontline Centre Corner of Lawrenc& & Wellinglon Road Vvavertree Liverpool L15 OHY Indèp•nd&nt examiner Peter Taaffe FCA CTA DChA BVVM Castle Chambers 43 Castle Street Liverpool L2 9SH Bankers CAF 8ank PO 8ox 289 Wesl Malling Kent ME19 4TA
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE CONTENTS Pag• Trustees. report Statement ol Iruslees, re$ptsnsibililie$ Independent examiner's report Statement of financial activities 9-10 Balance sheet 11 Notes to the accounts 12-24
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT} FOR THE YEAR ENDED 31 AUGUST 2Q20 The trustees present their report and financial slalemenls for the year ènded 31 August 2020. The financial statements have been prepared in accordance with the accounting policies Sel out in note 1 10 the financial 513lements and comply with the ¢harity's memorandum and articles ol association, the Cornpanies Act 2006 and "Accounting and Reporting by Charities. Statement ol Recommended Pr8clice applicable lo charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021. las amended for accounting periods commencing from 1 January 20181. Imagine If Tru$l was incorporated in May 2012 as a Private Company Lirniled by Guarantee. which is also a Registered Charity. An introduction to Imaging If Trust Imagine If Trust wa5 launched in September 2012 a5 tho umbrella organisalion for 8 number of social transformation projects. Most of these projects had previously functioned as part of Frontline Trust. The vision lo separate these projects out was lo enable them lo gain greater influence and impact with the newfreedom they would enjoy. The relationship between Imagine If Trust and Frontline Trust remains strong and Fronlline Trust continue lo be a major supporter ()1 the various projects. Our vision is lo 'Equip passionate people to Wofk ¢ollaboralively in providing Pfactical and emotional support,. In this we recognise the priority of wtsrking with people as holistically as possible, either by providing a range of pioje¢ls under the Imagine If Trust umbrella OT by partnering with other providers. Vvhile much of our work is focussed on the Liverpool City Region, we also have the privilege of making a significant contribution lo the lives ol people abroad. To dale this has primarily locussed on our Love Congo project- working in the Democratic Republic of Congo. ObJg¢tivas and actlvltl&s The primary aims of Imagine If Trust are.. The relief of those in need, financial hardship, sickness or distress. To advance education. To provide or assist in the provision of lacililie5 in the interests ol social welfare The trustees confirm that ihey have referred lo the guidance contained in the Charity Commission's general guidance on PLJblic benefit when reviewin9 the charity'5 aim5 and tsbjeclives and in planning lulure aclivilies. Objectives reflecting the staled aims above are translated into our core aclivilies. as outlined below. The relief of those in need, finanual hardship. si¢kness or distress All of the projects that we undertake look to address this objective. Whether providing food for those in food poverty or attending a court hearing with one of our tenants through our Genesis Housing projèct, all our activities have some element of biinging relief to those in di51re5S. To advance education We believe in the power of learning both to empower indfviduals and lo bolster their sense of self-e$leem. A number of our projects contribute lo thi5 Qbjective including Sticky Finge¥s Nursery which provides nursery education lo children aged 2 10 4, our PSHE work in local schools through our Get Real project and our Love Congo project 5UPPOrting a school in Demo¢rali¢ Republic of Congo. To provide or as51sI in th¥ provision of facilities in the interests of social weware As part ol our desire lo help people out of homelessness we provide sUPPOrted acctsmmodation through our Genesis Housing project. We currently have properties providing a lotsl of 7 bed spaces in the Wav?rtr8e area of Liverpool.
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT ICONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 AUGUST 2Q20 Our partners Vve wo(sld like lo offer our thanks lo all the org8nisations and individuals who have supported us n our work this year, including all of our volunteers, donors and sponsors. Everything Imagine 11 Trust has achieved this year has been reliant on your valuable contributions, in all their various forms. Thank you specifically lo the following donors.. CAF Bank Co-op Community Fund Frontjine Trust Green PaslLJres John Moores Foundation LCVS Liverpool City Council Liverpool CCG Medical Missionary News PH Holl Foundation Pret Foundation Steve Morgan Foundation Torus Foundation Achiav8ment3 and pèrformancè Here is a quick summary of each of the projects.. Sticky Fingers is a parenV¢ar&r and toddler group aimed at providing support lo parents of young children. These Sessions provide a quality environment lor parent and child.to explore the art ol playing together. We provide refreshments and loasl for parents and childfen, as well as craft a¢tivities, song lime and a huge amount of space lo run aroundl Stick Fin Sticky Fingers Day Nursery offers an excellent environment for learning and development, for 2, 3 and 4 year old5. Th¢ Nursery was launched in 2015 with assistance from Liverpool City Council who had identified a specific need lor nursery provision in the L1 S postcode area. The priority for the nursery is to offer places lo local parents who qualify lor free nursery provision. treetwise. Slreetrwise provides practical and emollonal support to street sex workers including the provision of lea, coffee, sandwches. loilelries and condoms. This project provides a safe pla¢e for the women lo come and discuss concerns and fears. nesi Genesis Housing offers supported a¢¢ommodation lo those who would otherwise be homeless or in hostel aGGommodalion. Barrow House, is a four bed men's house which opened in 2015 and Sozo House, is a three bed women's house and this opened in 2016. Gel Real provides relevant and informative Sex and Relationship Education {SREI lo help young people make infomied de¢i5ions. Allendees are given an opportunity lo explore their own perceptions of human relationships. Love Our Love Congo project works alongside partner organisalions in the Democratic Republi¢ of Congo IDRCI, we provide practical and financial support in a number of areas tr) help bring about change to these people. The main projects we support are based In the North East of the country where thousands of people have been displaced due lo the ongoing conflict.
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT ICONTINUED)IINCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2020 Bab-Flah (Open Ooor in Arabicl is a support service for isolated Muslim women and children, some of whom are refugees and asylum seekers, offering cultkjrally relevant opportunities lo meet others and gain support. The project currently engages with up lo 100 women each month. Just Cheer provides great opportunities for children between the ages 015 and 18 to make friends. learn new skills and develop their crealivily. INe aim lo leach a variety of cheerleading skills through recreational and competiiion classes for a var4ely of levels and abilities. rislmas Meal. Each year we provide lunch Dn ChrislTllas Day lo those who are lonely, iso18l$d or in poverty. The event has become a regular feature on the Imagine 11 calendar and we are working closely with local tsrganisalions to lake r6ferrals and support those who would otherwise be on their own al Christmas. This year we launched a new initiative in partnership with the national eharty Safe Families for Children. Family Matters provides intensive volunteer support lo vulnerable families who are referred lo us by social workers. The Steve Morgan Foundation has agreed lo fund this work for the next five year5. Linkin Linking Lives is a belriendlng seN¢e that offer5 companionship lo loriely and isolated older peOe in our community. Our volunteers regularly conlaol individuals for a chal, lo shale in an interest or hobby, or lo help pracb'cally. Volunteer visits improve the quality of life for isolated older people by increasing opportunities for engagement in the commLJnily, leading lo improved mental health and increased confidence and sell-esleem. Financial r•vlew The Iruslees have reviewed the finanaal status of the Trust. Overall the picture is a positive one bul with a recognition that the current economi¢ climate is challenging lor all organisalions in the charity sector. In light of this close Monitoring ol expenditure and cashflow management 15 requ1red. We faced some operational challenges over the last 12 months, however, with some generous support from funders. we are confident that this will give us a flrm foundation for the inevitable ¢hallenges that face an expanding organlsalion in the years lo come. Looking ahead inlo 2021 and beyond, we conlinue lo be confident in our ability to deliver high quality services which will enable us lo a¢hieve our prirnary objectives. Investment pollcy Ther& are no reslriclion5 on the investment powèrs of the trustees. Our liquid funds are currently held in vafiOUS bank savings accounts, Rè8•rvo$ policy Our reserves poli¢y reflects our desire lo maintain a liquid reserve lo draw on in the event of any reduction in our donated income and lo provide a measure of protection lo the delivery of our core objectives. We continue lo aim to have a fund of free and liquid reserves equivalent to al least £30k. Free reserves al the year-end slood al £72k.The trustees have sel a budget for the accounting year ending 2021 that wll malnlain reserves in line with the reserves policy.
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (CONTINUEDI{INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 AUGUST 2020 Rl$k pollcy The Iruslees have identified the following main risks lo our organisalion and responses lo these risks are outlined below. Health and Safety A Health and Safely policy has been adopted. Work has been carried out on risk assessments of all existing and new activities and new risk assessments aTe undertaken as required. Health and Safely induction and training is prov1ded for all involved in projeol work. Chlld Protoction & Vulnefablo Adults Child Prole¢liL)n and Vulnerable Adults Policies are in place. The Trustees lake seriously their responsibility lo protect and safeguard the welfare of children, young people and vulnerable adults entrusted lo Imagine If's Care. All those involved Inol just Ihose have access lo children, young people and vulnerable adults) are briefed on their responsibilities and are made fully aware of the organi5alion's child protection and vulnerable adults policy and procedures. Those involved in activities where they may have Contact with children, young people or vulnerable adLJlls are required lo undergo DBS Checks. A Safeguarding Team has been appointed and meets regularly to ensure that the policy is being implemented and lo ensure that the policy remains both effective and up lo dale. Effo¢t$ ol COVID-19 In March 2020 we had lo close many of our projects due to the national lockdown. During the lockdown some projects continued including.. Foodhub- we supported 40 families with food on a weekly basis representing 82 individuals. Genesis Hou$ing- We kept up regular ¢ontscl with all our tenants, supporting as much as needed. Linking Lives- we made weekly ¢alls to 25 isolated elderly service users. Sticky Fingers Nursery- We delivered regular Zoom ¢alls lo 33 of our families. We also provided over 60 volunteer sh(>ppers for those referred lo us by Liverpool Cty Council, tolalling 122 households. We maintained ¢onla¢t with a total of 267 different individuals on a weekly basis over Ihe 12 weeks of lockdown representing a total of 3,204 contacts. During this period we had ID furlough 14 staff members, some were able lo resume their work after risk assessments were in place and some were unable lo perform their roles for the entirety ol the lo¢kdown period and remained on fu¥lough. All staff memb&rs relurned to work in full by 1st Sepltsmber 2020. Flnancial Risks Guidelines are issued to all on propeT cash handling procedures and are upd8led al least once a year. Inslru¢lions are issued to avoid making purchases in cash unless it is unavoidable. Internal departnEnlal procedures have been slandardised. Oepartmenlal records and central accounts are monitored regularfy and all departmental budget holder5 receive monthly budget perfofmance reports. Vve receive iegular guidance on financial risks from our accounlanl, the Charity Commission, HMRC and vafious third sector agencies. This keeps us up to dale with newer areas of risk. Our accountant also advises us of any specific areas of weakness that may be identified durin9 the annual independent examinats'on, so that we can tske steps to correct Or protect against them.
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES, REPORT (CONTINUED)IINCLUDING DIRECTORS. REPORT FOR THE YEAR ENDED 31 AUGUST 2020 Plans for the future Our three key $u¢cess factors for the year ahead are.. 1. Stories of changed lives- all our activities are about people and so stories of lives that have been 5UPPOrted lo Change are key to our succe55. 2. Building partnerships- we recognise that supporting people wll often lake a range ol services and so whether il is strengthening links between piojeGls within the Imagine11 Trust portfolio, or effective signposting to other agencies, building partnerships is a core requirement. 3. Sustainability- whether il is excellent finandal management, good charity governance, or effective fundraising, we recogni5e the need lo strengthen sustainability lo ensure that we can continue to serve in the years ahead. Structural yovernance and managem&nt Imagine If Trust is a registered charity and a company limited by guarantee incorporated on 15 May 2012. Refer&n¢è and adminlstrative d•tall$ Managemènt of Imayine If Trust The Trustees oversee the legal and financial responsibilities of the Trust. and they meet formally as a board on a regular basis. The Iruslees also have respon5ibilily for the overall direction and vision of the ¢harity. Day lo day responsibility for the running of the charity is delegated lo the Chief Exe¢ulive Officer and Ihe Development Managers, working in conjunction wth the various Project Leadors. Tru$t••$ The Iruslee5, who are also the directors for the purpose of company law. and who served during the year were". Mr C Butland Mrs Ra¢hel Cole Mr Thomas Drury (Chairl Mr John Gibson Mrs Alison Hughes Mrs Lisa Orange Mr James Sloan IAppoinled 2 Febfuary 20201 None of the Iruslees ha$ any beneficial interest in the company. All of the trustees are members of the company and guarantee lo contribute £1 in the event of a winding up. Management Team James Sloan ICEOI Jemma Orange IDeveloprrenl Manager) Helen Ann Alkins (Operations Managerl Paul 8riers Icommunications Manager) Jon McGowen IEarly Years Manager) and the Project Leaders from the various projects. The remuneration of the key management of the organisation 15 set by the board of Iru51ees.
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT ICONTINUED){INCLUDING DIRECTORS, REPORT> FOR THE YEAR ENDED 31 AUGUST 2020 Small company provl$lons This report has been prepared in accordance wlh the special provisions applicable to companies subjeel to the small companies regim¢. On behalf of the board of trustees Mr Jofin Glbson Trustee Dated.. .?.. ZOZI
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2020 The trustees, who are also the directors of Imagine If Trust for the purpose of company law, are responsible for preparing the Trustees, Report and the financial stalements in accordan¢ts with applicable law and United Kingdom Accounting Standards Iuniltrd Kingdom Generally Accepted Accounting Praclicel. Company Law requires the trustees to prepare financial slalemenls lor each financial year which give a true and fair view ol the state of affairs of the eharily and ol the in¢cbming resources and application of resources, including the income and expenditure. of the charitable company for that year. In prepafing Ihese financial slalemenls. the Iruslee5 are required lo.. select suitable acctsunling policies and then apply them consislenlly., observe the methods and principles in the Charili&s SORP., make judgements and eslimales that are Teasonable and prudent., and prepare the financial statemen15 on the going concem basis unless it is inappropriate lo presume that the harity will continue in operation. The Iru51ees are responsible for keeping adequate accounting re¢(>rds that disclose wlh reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the Isnancial statements comply with the Companies Act 2006. They are also responsible for saleguaiding the assets ol the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF IMAGINE IF TRUST I report lo the trustees on my examination of the accounts of Imagine If Tru51 Ilhe charilyl for the year ended 31 August 2020. This report is made solely Its the charity's Iruslees, as a body, in accordance with Section 145 of the Charities Act 2011. My examination has been undertaken so that I might stale to the charity's trustees those matters l am required lo state to them in an Independent Examine¢s report and for no other purpose. To the fullest exlenl permilled by law, I do not accept or assume responsibility lo anyone other than the charity and the charity's Iruslee5 as a body. for my examination. for this report, or for the opinions I have formed. Rèsponsibilities and basls of report As the trustees ol the charity land also ils directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with Ihe requirements of the Companies Act 2006 Ilhe 2008 Act). Having satisfied myself that the accounts ol the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinabon, I report in respect of my examination of the charity's accounts as carried out Ljnder section 145 of the Charities Act 2011 Ithe 2011 Acll. In ¢airying out my examination I hav& followed the Directions given by the Charrty Commission under section 1451Sllbl of the 2011 Act. Indapgndent examln$r's statement Since the charity's gross income exceeded £250,000 your examiner must be a member ol a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of the Institute of Chartered Accounlanls in England and Vvales, which is one of the listed bodies. I have completed my examination. l confirm that no mallers have come lo my attention in connection wlh the examination giving me cause to believe.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 A¢l', or the financial statements do not ac¢ord with those re¢ords', or the financial slalements do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accoun15 give a true and fair view which is not a maller considered as part of an indepondent examination". or the financial statements have not been prepared in accordan with the methods and principles of the Statement ol Rocommended Pracli¢e for accounting and reporting by charities applicable lo charities Preparing their accounts In aCrdanCe with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. I have no ¢gn¢erns and have come across no other matters in connection ¥th the examination lo whrh attention should be drawn in Ihis report in order to enable a proper understanding of the finan¢ial statements to be reached. Pgter Taaffo FCA CTA DChA BWM Chartered Accounlanls Castle Chambers 43 Castle Street Liverpool L2 9SH Dated.. IP. L,11
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020 Current flnanclal year Unr9Stricted R&stri¢tgd funds funds 2020 2020 Total Total 2020 2019 Note5 Donations and legacies Charitable activities Other trading adivities Investments 119,549 253,836 119.549 299,542 80,195 278,671 897 60 45,906 81 81 Total Incoma 373.266 45,906 419,172 359,823 Charitable a¢livilies 327,668 41,287 368,953 373,879 Total •xp8nditur8 327,666 41.287 368,953 373,879 Nèt movement In funds 45,600 4.619 50,219 114,0561 Rg¢on¢lllatlon ol fund5 Fund balances at I September 2019 26,186 14,018 40,184 54,240 Fund balan¢es at 31 August 2020 71.766 18,637 90,403 40.184 The stalernenl of financial aclivilies includes all gains and losses recognised in the year. Atl income and expenditure delive from continuing aclivllies. The movement in funds detailed above complies wth the requirements lor a stalemenl of changes in equity under FRS102. The slalemenl ol financial activities also complies with the requirements lor an incorne and expenditure account under the Companies Act 2006.
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020 Prior financlal year UnTO$trictod Rostricted fund$ fund5 2019 2019 Total 2019 Notgs Donations and legacies Charitable activities Other trading activities Investments 80,195 243,376 897 60 80,195 278,671 897 60 35.295 Total incomo 324,528 35,295 359,823 Charitable activities 328,434 45,445 373,879 Total ¥xp&ndituro 328,434 45,445 373,879 Nèt movement in funds 13,9061 110,1501 114,0561 Reconclllatlon of funds Fund balances at 1 September 2018 30,072 24,168 54,240 Fund balances at 31 August 2019 26,166 14,018 40,184 The slalemenl of financial activities includes all gains and losse5 recognisod in the year. All income and expènditure derive from continuing activities. The movement in fvnds detailed above complies wth the requirements for a statement of Changes in equity under FRS102. The statement of financial activitie5 also complies with the requirements for an income and expenditure a¢¢ounl under the Companies Act 2006. 10
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE BALANCE SHEET AS AT 31 AUGUST 2020 2020 2019 Notos Curronl a5set$ Debtors Cash at bank and in hand 925 93.097 925 42,259 94,022 43,184 Llabilities Creditors.. amounts fallin9 due s*ilhin one year 16 13,619} 13,0001 Net current assets 90,403 40,184 Total nèt assots 90,403 40.184 Tho funds of the Charlty R&stricted funds Unre51ri¢led funds 18,637 71,766 14,018 26,166 Total charity fund$ 90,403 40,184 The company is enlilled lo the exemption Irtsm the audit requirement ¢onlained in section 477 of Ihe Cornpanies Act 2006. for the year ended 31 August 2020. The trustees acknOedge their responsibilities for ensuring that the charity keeps accounting records which comply with seetiDn 386 of the Ael and lor preparing financial stalemenls which give a true and fair view ol the stale of affairs of the company as al the end of the financial year and of ils incoming re50urce5 and application ol resources, including its income and expenditure, for the linan¢ial year in accordance th the requirements of sections 394 and 395 and which otherwise comply th the requirements of the Companies Act 2006 rfrlaling lo financial slalemenls, so far as applicable lo the company. The membors have not required the company lo obtain an audit of its financial slalemenls for the yeaT in Question in accordance with section 478. These financial slalemenls have been prepared in accordance with the provisions applicable to companies subjed to the small companies regime. The financial stslemenls were approved by the Trustees on . Zs IDzi hn Gibson Tru5tse Company Regi$tratlon No. 8069756
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Accounting polici8s Charity inforniation Imagine If Trust is a private company limited by guarantee in¢orporaled in England and Wales. The registered office is Fronuine Cenlre, Corner of Lawrence & Wellington Road. Wavertree, Liverpool, L15 OHY. 1.1 Accounting conventlon The accounts have been prepared in accordance with the charity'5 Memorandum and Articles of Association. the Companies Act 2006 and AG¢ounting and Reporting by Charities.. S131ement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for accounti periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in sterlin9, which 15 the fun¢tional currency of the charity. Monetary amounts in these financial statements are rounded lo the nearest £. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update 8ulletin 1 not lo prepare a Statement of Cash Flows. The accounts have been prepared under the hislorical cost ¢onvention. The princlpal accounting policies adopted are set out below. 1.2 Golny concern Al the lime of approving the accounts and as deiailed in the Trustees, report, the Trustees have considered the impact ol Covid-19 on the charity and the Tiuslees have a reason8ble expectation that the charity has adequate resource5 to conlinue in operational existence for the foreseeable future. Thus, the Trustees Continue lo adopt the 'going concern, basis ol accounting in preparing the accourils. 1.3 Charltablo fund$ Funds held by the charity are.. Unreslricled g$ftp&rèl lunds- these are lunds which ean be used in accordance with the charitable objects al the di5¢retion of the Iruslees, Reslncled fLinds- these are funds that ¢an only be used lor particular restricted purposes wthin the objects ol the ¢harily. Reslriclion5 arise when specified by the donor or when funds are raised for particular reslricled purposes. Further explanation of the nature and purpose of each fund is included in the notes lo the accounts. 12-
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2020 Accountlng policies Iconlinuedl 1.4 Incomè Donation and legacy in¢ome is recognised where there is enlillement, ¢ertainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor has imposed conditions which must be mel befor¢ the charity ha5 ijncondilional enlillement. Investment in¢ome is recognised on a receivable basis. Income from charitable activities include5 in¢ome received under Contract or where enfy'llemenl lo grant funding is 5ubje¢l lo specific perfomance condition5 is recognised as earned las the related goods or services are provided). Grant in¢ome included in this category provides funding lo support perfomiance activities and is recognised where there is entitlement, certainly of receipt and the amount can be measured with sufficient reliability. On occasions where the charity received assistance in the form ol donated goods and lacilrties, and the benefil is qu8nlifiable and material, an appropriate amount is included in income and an equivalent amount as expenditure under the relevant heading. The value of services provided by volunteers has not been included in these accounts. Income from donated seNi¢es and facilities is ineluded in income al a valuation which is an estimate of the financial cost bome by the donor where such a c051 is quanliliable and measurable. No income is reco9nised when there is no financial Cost bome by a third party. 1.5 Expgnditure All expendilure is accounted lor on an a¢cru31s basis and hay been classified under headings that aggregate all wsts related lo the category. The irrecoverable element of VAT is included with the item of expenses lo which it relates as this cannot be recovered by the charitable company. Raising funds compiises those costs incurred by the charity in the delivery ol fundraising events. Charitable aGlivilies comprises those costs incurred by the charity in the delivery of its activities and service¥ lor ils beneficiaries. Also included is Governance costs which are associated with meeting the consliluhonal and slalulory requirements of the charity. 1.6 Tangible flxad assets Tangible fixed assets are measured al cost and, nel of depreciatson and any impairment losses. All assets C051ing more than £1,000 are capilalised al cost. Depreciation is provided at rates calculated lo write off the Cost less eslimaled residual value of each asset over ils expected useful life, as follows.. Fixtures, fittings & equipment Computers Motor vehicles 330A p.a. on a straight line basis 33'k p.a. on a straight line ba51S 25Yo p.a. on a straight line basis 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquld inveslmenls with original malurilies ol three months or less, and bank overdrafts. 13-
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2Q20 A¢counting poli¢lès (Continued) 1.8 Financial instrumgntS The charity has elected to apply the provisions of Section 11 'Basi¢ Financial Inslrumenls, and Sectton 12 'Olher Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments ale recognised in the charity's balance sheet when the charity beMeS party lo the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presenled in Ihe financial statemen15, when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo settle on a nel basis or lo r8alise the asset and settle the liability simultaneously. Ba$lc financial assets Basic financial assets, which include debtors and cash and bank balances, are Initially measured at Iransadion price including transaction Costs and are subsequently carried al amortised cost using the effe¢ty've interest method unless the arrangement conslilutes a financing transaction, where the transaction is measufed al the present value ol the future receipts discounted al a market rale of interest. Financial assets classified as re¢eivable wlhin one year are not amortised. Basic flnanclal liabllltles Bas¢ financial liabilities. including creditors and bank loans are initially recognised al Iiansaclion price unless the arrangement conslilutes a financing transaction, where the debt instrument is measured al the present value of the future paymen15 discounted al a market rale of intere51. Financial liabilities ¢lassilied as payable within one year are ntrl amortised. Debt instrumen15 are subsequently ¢8rried at amortised cost, using the effective interest rale method. Trade creditors are obli9alions lo pay foi good$ or setvices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-¢urrent liabilities. Trade creditors are recognised initially al transaction price and subsequently measured at amortised cost using the effective interest method. Derecognillon of financlal liabilities Finan¢ial liabilities are derecognised when the charity's eonlractual obligations expire or are dis¢harged or cancelled. 1.9 Employee bengfits The cost of any unused holiday enlillemenl 15 recognised in the period in which the employee's service8 are received. Termination benefits are recognised immedial&ly as an expense when the charity is demonstrably commilled lo lerminale the employrnent of an employee or lo provide lerminalion benefits. 1.10 Leases Rentals payable under operating leases, including any lease incentives recaived, are charged as an expense on a straight line basis over Ihe term of the relevanl lease. 1.11 Taxation The charity benefits from various exemptions from taxation afforded by tax legislalbon and is not liable lo ccirporalitsn tax on income or gains falling within those exemptions. Recovery is made of lax dedu¢led from qualifying income and from receipts under Gift Aid, The charity is not able to recover Value Added Tax. Expenditure is recorded in the accoun15 inclusive ol VAT. 14
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 AUGUST 2020 Crltical accounting estimates and judgements In the application ol the charity's accounting policies, the Irusttres are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabi5ilie$ that are not readily apparent from other sources. The estimates and associated assumptions are based on historical exp&rience and other factors that are Considered to be relevant. Actual resu115 may differ from these estimates. The eslimatos and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, OT in the period of the revision and future periods where the rev1sion affects both current and future periods. Donations and l¢gacles Unrestrl¢tsd Unreslricled funds funds 2020 2019 Donations anLI gifts Core grants 33,638 85,911 36.845 43.350 119,549 80,195 Grants receivable for ¢or6 activities Coronavirus Job Retention Scheme Grant Frontline Trust 41,407 44,504 43,350 85,911 43,350 15-
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Charitabl• activities The ralief of hardship and advan¢emant of aducation The relief of hardship and advancement of education 2020 2019 Performance related grants Charitable income 94,387 205,155 60,782 217,889 299,542 278,671 Analysis by fund Unreslricled funds Reslricled funds 253.636 45,906 243,376 35,295 299.542 278.671 Pèrformancg rèlated grants Seedbed Christian Community Morgan Foundation New Hope Medical Missionary News Othe¥ 10.000 884 10,417 12,382 12,500 59.088 17.000 32,898 94,387 60,782 Othor trading actlvltlgs Total Unreslri¢led funds 2020 2019 Fundraising events 897 16
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Investments Unrastricted Unreslricled funds ftjnds 2020 2019 Interest receivable 81 60 Charilabla activitSes 2020 2019 The r•ll¥f of hardship and tha advancem¥nt of aducalion Staff ¢osls Depreciation Premises expenses Repairs and renewals Motor and travel Legal and professional Course and conference expenses Office expenses Food, drink and other purchase5 Sundry expenses 216,144 203,053 2,190 39,712 17,145 9.066 3,764 7,798 9,614 30,653 9,613 43,990 12,667 5,443 6,899 2.977 6,066 29,829 4,130 328,145 332,608 Granl funding of a¢livilies (see note 8) Share of governance costs (see note 10} 39,428 1,380 39,921 1.350 368,953 373,879 Analysis by fund Unrestricled funds Reslricled funds 327,666 41,287 368,953 For the year end¥d 31 August 2019 Unrestricted funds Re51ricled funds 328.434 45.445 373,879 17
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Grants payabl 2020 2019 Th8 rolief of hardship and th• advancement of educatlon Grants lo inslilulion$'. CRS Church DRC Watchmen Internalitsnal Liverpool Foodbanks Green Pastures Open Vvell 37,240 1,650 23,886 1,800 9,000 250 200 39,090 338 34,936 4,985 Grants lo individuals 39.428 39,921 Funds r&c&lv8d for distributlon In the previous year, the charity acted as a distributor lor a grant issued lo specifi¢ individuals on behalf of Liverpo¢>l Calalysl. The charity reiVed a lolal of £2,000 in the year ended 31 August 2019 and all funds were distributed to the Intended recipient IToxtelh Women's Centrel before the year end, SuItIng in a balance ol £nil as at 31 August 2019. The amounts received and distributed are not included in the Slalemenl Of Financial Aclivilies. 10 Supportcosts Support Govomance costs costs 2020 Support Goveman¢e costs costs 2019 Independent examination fee3 1,380 1,380 1,350 1.350 1.380 1,380 1,350 1,350 Analysed beeen Charitable activities 1,380 1,380 1.350 1,350 Governance ¢081s have been reallocated to ¢haritable aclivilies. They include payments lo the independent examiner of £1.380 12019- £1,35Ql for independent examination fees and ¢hari¢able expènditure includes £1,98012019- £2,040) lor accountancy and other services. 11 Trust•gs One trustee and persons connected to a trustee12019 one Iruslee and persons connected with a Irusleel received remuneration during the year. No trustee5 were reimbursed èxpenses during the period (2019- £nill. 18.
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2Q20 12 Employ••s Numbgr of ernployaas The average monthly number of employees during the year was.. 2020 Number 2019 Numbar Charitable 19 Employment costs 2020 2019 Wages and salaries Social security ¢osts Other pension c0515 205.475 5,222 5,447 193,118 5,152 4.783 216,144 203,053 Included in wages and salaries are redundancy and ex gralia payments totalling £2.26412019.' £nill. There were no employees whose annual remuneration was £60.000 or more. 13 Tangible fixed assèts Fixtures, Computers fittings & equlpm6nt Motor vehicles Totsl Cost Al 1 September 2019 2,500 2,892 8,760 14.152 Al 31 August 2020 2,500 2,892 8,760 14,152 Depreciation Al 1 September 2019 2,500 2,892 8,760 14,152 Al 31 August 2020 2,500 2,892 8,760 14,152 Carrying amount Al 31 August 2020 Al 31 August 2019 19-
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 14 Financi41 Instruments 2020 2019 Carrying amount of financlal asset5 Debt instruments measured al cost 94,023 43.184 Carrying amount of financial Ilabllltl&s Measured al oosl 3,619 3.000 15 Debtors 2020 2019 Amounts falling dug within one year. Trade debtors 925 925 16 Creditors- amounts falling dug Withln ono yoar 2020 2019 Trade creditors Accruals 260 3,359 3.000 3,619 3,000 17 Retlremènt h•rit schemes D8fin•d contribution schemes The charity operate5 a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those tsf the charity in an independently administered fund. The charge lo the slalement ol financial activities in respect of defined contribution schemes was £5,447 12019- £4,783). 18 Operatlng lease commitments Al the reporting end dale the charity had oulslanding ¢ommrtmenls for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2020 2019 Wlhin one year Between twts and five years 19,953 12,688 19,953 32,641 32,641 52,594 -20-
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IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST 2020 20 Analysis of nat ass8ts bgtween funds Unrestricted Restricted funds funds 2020 2020 Total Unreslricled R¢slricled funds funds 2019 2019 Total 2020 2019 Fund balances al 31 August 2020 are represented by.. Current assetsl 71,766 18,S37 90,403 26,166 14,018 40,184 71,766 18,637 90,403 26,166 14,018 40,184 21 Related party transactions Rèmuneration of kèy management per50nn81 The remuneration of key management personnel is as follows. 2020 2019 Aggregate compensation 28,916 28,688 During the year the ctsmpany entered into the following transactions with related parties.. Frontline Trust is an independent charitable company. During the year Frontline TTUSI has assisted Imagine If Trust by providing grants. John Gibson is a trustee ol Imagine If Trust and his wfe and daughter were employed by the charity. Lisa Orange Is a trustee of Imagine1f Trust and her sister.in4aw is employed by the charity. James Sk)an is a trustee and the GEO of the charily. James Sloan is employed as CEO of the charity. He 15 also a trustee of New Hope Trust who are partnering wlh Im8gine11 Trust in developing a medical c¢ntre In the DRC. Imagine if Trust provided grants (see note 81. Four trustees donated a lolal of £655 during the year. There were no r)ther related party transactions in the year. 22 Company Ilmltéd by guarantee lrnagine If Trust is incorporated under the Companies Act as a Company limited by guarantee. The liability of the members is limited lo £1. 23-
IMAGINE IF TRUST COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 23 Event5 aftèr tha r•porting datè Since the reporting date there has been a second and now third national lockdown initiated lo stem the spread ol the coronaviru5 pandemic. The organisalion has largely continued lo operate during these lockdowns, having risk assessed each project and taken the necessary Steps lo ensure the Safety of 51aff and service users. Most ol the staff are able to provide support remotely. Key projects sueh as Food Hub and Food Bank have continued to operate out of the Frontline Centre bul in line with safety measures. Having reviewed these measures we believe they continue lo be the best approach al this ts"me. This situation will ¢ontinue to be monitored over the coming months. 24-
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