The L20 Hub Charity No. 1147852 Company No. 08096773 Tntstees. Report and Unau&rted Accounts 31 Marth 2023 111 INIII *ACVGKY)N• 2510112024 COMPANIES HCXJSE A19
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The L20 Hub Contents Pages 2to7 Trustees. Annual Report Independent ExaminÈrf5 Report Staternent of Financial Activities 8t08 9t09 8alance Sheet Iotolo Notes to the Accounts Ilto20 Page I
The L20 Hub Trustee5 Annual Report The tnjstees, who are also direcior5 of the charity for the purposes of the Compan5 Act 2C(16, herein present their report with the unaudited tinantial statements of the charity forthe year ended 31 March 2023. The financial statemenls have been prepared in accordance with the accounting policies set out in Note I to the accounts and comply with the charity's 8overnin8 document. the Charf(ies Act 2011, the Companies Act 2(M)6 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charit5 preparing their accounts in accordance with the Financial Reporting Standard 102 apICable in the UK and Republic of Ireknd. REFERENCE AND AI>MINISTRATIVE DETAILS Company No. 08096773 Charity No. 1147852 Re8istered Office St Marys Complexstudio 8 Waverley Street BclIe Merseyside L20 4AP Oirectors and Trustees The Directors of the charitable company are its Trustees for the Purposes of charity law. The following Directors and Trustees served during the year- O.P. Clare C.L. McGuire J. Murphy K.D. Owens E.S. Robinson Resigned 31st Au8USt 2023 Key Managernenl Personnel Chair Accountants Eloise Robinsi)n Sefton Council for Voluntary Service Burlington House Crosby Road North Waterloo Liverpool L22 OLG Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mallrng Kent ME19 4JQ Page 2
The L20 Hub T¢ustee5 Annual Report OBJEcnvE5 AND ACTIVITIES The charity delivers a range of youth and community projects. services and actrvities designed to deliver social. educational. and recreational benefrts to residents of Bootle. The charity focusses on dtsèdvantage. deprivation. and inequality by providing the above to children. young people. older people and the wider community. Due to an injertion of fundin8 from September 2022 we became ful operational and started offering the following: . Projert f¢xu55ed youth work-Afl Clubs. Cooking Classes • Youth Choir Media Club- Podcasts. joumalism. film makin& content creation Duke of Edinburgh • Girls Clubs Multi sports Communlty . Coffee Momin8 • Community day trips Pride of Sefton Bury Market Xmas Theatre Trip • Friday Fitne55 • Ad HIK projects ParentGroups- Fun 4Tots . Community Growing projects Canal & Rlver Trust- £IC(Kl lowards staff training Sefton MBC IComrnissionedl- £65,CiKI to SUPWrt the delivery of youth and community servKes in the Bootle Derby Ward. Burbo Bank Extension Fund- £17,376 to 5UPPOrt project based around the utilisation of green spa$ part funding. National Lottery Reathing Communities- £225.356 towards recovery and redevelopment of core services and operational costslempli)yment of staff. Page 3
The L20 Hub Tnjstees Annual Report FINANCIAL REVIEW The charitvs financial position at the end of the reporting period having started the year with funds brought forward of £140,4 of which £80.868 was unrestricted. We end the year with funds of £120,696 and unrestricted funds of £71.664. The decrease in unrestricted funds can be linked to the ongoin8 costs of closing our old premises on Oxford Road and rel¢xating to Bootle Cricket Club. The charity became fulty operational again in September 2022 with all staff back to work. functioning premises and funding to 5UPPOrt the next 3 years of delNery and operational costs There has been no surplus of funding this year. The value of Ourted assets has decreased from £26,084 to £19,744. This relates to the deprecwtion of ihe 2 minibuses which are each now I year ol(ler. Over 40% of our income came from our After Sch¢)ol Club. which up until March 2020 was self-sustaining. As this service is no longer in operation. we are feeling the impact of not havin8 the additional income that previously contributed to the sustainability of the chèrity. The continues to weather the impact of a 40% income reduction. but now that the Charity has secured long term fvndin& we can begin to explore potential enterprise. Our largest source of income is the reslrirted grants from Sefton MBC and our recent award of National Lottery Reaching Communities funding. RISKS AND uNCERTAIlEs Charity premises The charrf(y resides at St Marys Complex. Thi5 building plus the surrounding environment and diverse network of multiskilled CICS is a positive rrt for the organisation and will facilitate many opportunities goin8 forward. However, despite the positNes. the building is very old and not completely fit for purpose. We are limited to what we can deliver long terrn. We now must consider our next steps to finding ihe right premises to serve as our Yorever home.. Unfortunately, this will be particularly difficult as there is still a lack of available property in the area. Our need for enterprise to generate unrestricted rncome for the charity is becoming more and more urgent if we are to look for alternative premises. Brexlt Brexit 'Brexlt' remains an uncertainty around the potential impact on our ability to raise funds. There is continued worry around the impact it could have on our community and the possible increased need for support. Liverpool docks are a major employer for the area so there is concern around exports and the effect on employrnent. Disadvantaged areas such as Bootle. which 15 Still suffering from years of austerity and cuts to desperately needed services: are foreseen a5 being particularly vulnerable 10 the impact of Brexit. It IS ¥ital that we are able to maintain our seNices in the event of a break in grant funding. We continLJe to develop and cement our service5. in particular our supportive Servi5. Reserves have also been set assde for bridging the potential gap in grant funding. Page 4
The L20 Hub Trustees Annual Report Cost of liv¢ng crisis The cost-of-living crlS has been increasing across the UK since early 2021. The annual rate of inflation is predirted io reach over 10.5% in Ortober 2023. With thi4 in mind we are particularly concerned about the affordabilrty of rents. seNices and goods. Our reserves remain intact should we not secure sufficient funding within the next 12 months and will seThe as a bridge while we work to generate sufficient income via funding steams and enterprise. The charity has always prided itself on beine a'Real living wage. orn1$8t10n however. we will have to give ihis Status serious review as proposed inllation could mean an hour salary increase of over £1, which could be unaffordable given the charities current financial position. RESERVES POLICY AND DESIGNATED FUNDS Our readily realisable reser¥es stand at £51.920. With the precariousness of the charity's current situation and the ever.changin8 guidelines associated to the Covid-19 pandemic these reseNes are designated by the trLtstees lo meet the operatnal needs of the Charity in the year lo corne. This figure equates to between 3-6 months operating costs at current levels. £16.5 of unrestricted funds from the cash account has been set aside fr¢)m to cover the cost of works needed to develop an offKe space/youth and community base so the charity can tontinue its work, whilst finding a new premse. PLANS FOR FUTURE PERIODS The last 24 month5 has been a huge period of change for The L20 Hub Iformerly CLryCCI. However. we are in a promising position with a new name. operations manager and a newly defined 5trate8ic direction. We are settled in our new office and working towards defining our salellite model. For the coming year we hope to find a new venue to base ourselves and grow. Alongside this we are exploring possible enterprise opwrtunities. Our services are in consistent development and review with particular focus on: . Community Coffee Mornings . Youth Ser¥ices . Community projects (Art Hub. Community Walks) • Fitness Sessions Parent Groups . Community growing sessions The plan for the next year is to apply for large grants thal support our newly defined strategic direct#)n and identify mandatory and CPD training for staff. Page 5
The L20 Hub Tntstees Annual Report Our objective continues to support ihe development of strong levels of job satisfaction when working or volunteering at The L20 Hub. Bespoke training matrixes for staff that cover mandatory training such as Health and Safety, Safeguardin& COSHH. Risk Asses5inE etc and individual development and organi5ational development training such as Mental Health Awareness. managi Change, servKe specrfic CPD etc will be core practice. We are continuously working to reach our objertives and are committed to creating a workforce that is well equipped and qualified to be reactive and competent in adapting to the ever-changin8 needs of communities and youn8 people. We have developed strong links and relationships with partner provrders and peers and are active in sharing best practice and buildin8 alliances- this is a continual investment. We will continue to develop our services and provision's. targeting all ages in the Community. especially those most affected by the growing effects of il Austerty. ill Gang Culture & Gun/Knrfe Crime iiil a Divided Society whether throu8h generational. political. domestic, religiouslsectarian differences. Our work continues to be children and young person hea. We continue to focus on our community services with the vision of creating an equal focus right across the areas demographic. With particular focus on heah. fitness. mental health. social isolation, employability. skills for lrfe and support. We recognise it is a priority to attract new people and more people to ensure our Community Services meet changing needs in 8ootle. Our Trustees along with the CEO are proartive in ensuring that all our prograrnmes are delNered in a manner that always keeps people safe and secure. As always. we endeavour to promote a strong sense of welcome and communrty. The tontinuation of our safeguarding culture remains our hghest priorrty. STRLicfuRE, GOVERNANCE AND MANAGEMENT The L20 Hub is a giStered charity111478521, and a company limited by guarantee1080967731. The trustees of the charity are the directors of the company. The registered office as of April 2022 is Studio 8, St Marfs Complex. Waverley Street. Bootle. L20 4AP. The following trustees served during the year 202212023.. Mrs Eloise Robinson, Mr David Clare. Mr Joshua Murphy, Ms Carolyn McGuire. Mr Karl Owens Maggi Aslet representing Sefton CVS meets with the trustees and atterbds meetings WTth a view to supporting the direction of the charity. The thariws trustees on 1st Novernber 2023 approv the Trustees. Annual Report and attathed financial statement5.' The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2W6. The Trustees are also responsible for safeguarding the assets of the tharity and hence taking reasonab steps for the prevention and detection of fraud and other irregularities. Page 6
The L20 Hub Trustees Annual Report The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2ry)6 and in accordance with the Charities SORP IFRS 1021. Signed on beha of the board E Robinson E.S. Robinson Trustee 21 December 2023 Page 7
The L20 Hub Independent Examiners Report Independent Examiner's Report to the trustee5 ofThe izo Hub l report to the charity trustees on my examination of the financial statements of The L20 Hub for the year ended 31 March 2023 which comprise the Statement of Financial Activities. the Summary Income and Expenditure Account. the Balance Sheet and the related notes. Responsibilities and basis of report As the trustees of the charity land also its d1CtOrS for the purposes of company l?wl you are responsible for the preparation ol the financial ststements in accordance with the requirements of the Companies Act 2W6 I'the 2006 Act. Having satisfied myseff that the financial statements of the charity are not required to be autlited under Part 16 of the 21KJ6 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 20111'the 2011 Act.). In carrying out my examination I have lollowed the Directions given by the Charity Commission under section 1451511bl of ihe 2011 Art. Independent examinerfs statement Independent Eumlner's Report to the trustees of The L20 Mub I have completed my examination. I can confirm that no materk?I matters have come to my attention in connection with the examination giving me cause to believe that: accounting records were not kept in accordan with sect40n 386 of the 2W6 Act . or the financial statements do not accord with those records: or • the financial statements do not comply with the atc¢)untinE requirements under section 396 of the 2006 Act other than any requirement that the financial 5tateTnents give a 'true and fair, view which is not a matter consided as part of an independent examination- or • the financial statements have not been prepared in accordan with the Charities SORP IFRS 1021. I have no concerns and have come across no other matters in connection with the ex8mination to which attention should be drawn in this report in order to enable a proper understanding of the financial statement5 to be reached. Simone Meme Sefton Council for VUtary Service Burlington House Crosby Road North Waterloo Liverpool L22 OLG 21 December 2023 Page 8
The L20 Hub Statement ol Financial Activities forthe year ended 31 March 2023 Unrestricted funds 2023 Restrirted nds Totsl fvnds Total funds 20Z3 2023 2022 NeS Inwffle and endowments from: Donations and legacies Charitable activities 897 250 673 109,584 110,481 250 673 86.074 4.690 17 Investments Total 1,820 109,584 111,404 90,781 Expenditwe w: Charitable attivities Other 11,024 120,084 131,108 127,338 Total 11,024 120,084 131,108 127,338 Net gains on investments Net expenditure Transfers between funds 19,2041 110,51JOI 119,7041 136,5571 Net expenditure before other 8alns/llossesl 19,2041 110,5001 119.7041 136,5571 Other gains and losses Netmovement in funds 19,2041 119.7041 136,5571 Reconclliatlon of tunds: Total funds brought forward 80.868 59.532 140.4K 176.957 Totsl funds carried forward 71,664 49.032 120.696 140,400 Page 9
The L20 Hub Balance Sheet at 31 March 2023 Company No. 08096773 Notes 2023 2022 Flxed assets Tangible assets io 19,744 19,744 26.084 26,084 Current assets Debtors Cash at bank and in hand li L3 IIX).165 101,465 15131 I.952 8.050 114,860 122,910 18.5941 114.316 Creditors: Amount falling due within one year Net current assets 12 Tolal assets less current liabilities 120,696 140,400 Net assets ex¢ludin8 pension asset or liability 120.696 140.400 Total net assets 120,696 140,400 The funds ofthe durity Restricted funds Restricted income funds 13 49,032 49,032 59,532 59.532 Unrestricted funds General funds Designated funds 30,420 41.244 33,284 47.584 71.664 80.868 Reserves 13 Totsl funds 120.696 140,400 These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. For the year ended 31 March 2023 the company was entitled to exemption under settion 477 of the Companies Act 26 lating to small companies. The members have not required the company to obtain an audit in accordance with Section 476 of the Companies Act 2((J6. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2LK)6 with respect to accounting records and the preparation of accounts. Approved by the board on 21 Detember 2023 And signed on its behalf by: E Robinson E.5. Robinson Trustee 21 December 2023 Page 10
The L20 Hub Notes to the Accounts for the yeor ended 31 March 2023 l A¢¢ountln8 policies Basis of preparntion The financial Statements have been prepared in accordance with the charity's governing document, the Companies Act 2(K16, FRS 102 'The Financial Reportrng Standard applicable in the UK and Republic of Ireland" I'FRS 102,1 and the Charities SORP"Accounting and Reporting by Charities.. statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable Trn the UK and Republic of IreLand IFRS 1021" leffective l January 20191. The charity meets the definition ol a public benefrt entty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value Un55 Otherwise stated in the levaTht accounting policy note. The funttional currency used is the £ Sierling. Assets and liabilities are initially recognized at historical cost ortransaction value unless otherwlse stated in the relevant accounting policy note. The fvnctional currency used is the £ Sterling. Preparation of the accounts on a going concern tsa$ At the time of approving the accounts, the trustees, have a reasonabk expectation that the Charity ha5 adequate sOurCeS to continue in operational existence for the forseeable future. As such these accounts have been prepared under the g04ng concern basis. Change in basis of accountin8 orto previous acc(wnts There has been no change to the accounting polic$ (valuation rules and meth¢xl of Kcountingl since last year and no changes have been made to accounts for previous years. Fund aeeountinÈ UnStrICted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted f4Jnds which include a revaluation serve representing the restatement of investmeni assets at their market values. These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted furKIs Page 11
The L20 Hub Notes to the Accounts Income Recognition of income Income is included in the Statement of Financial Attivities ISOFAI when the charity becomes entitled to. and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income ha5 related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations and legacies Vdyntary income eNed by way of grants. donatn5 and gifts is included in the the SOFA when receNable and onty when the Charity has unconditional entitlement to the income. Income from tax reclaims 15 induded in the SOFA at the same time as the Tax reclairn5 on donations and gifts giftldonation to which it relates. Donated services These are only induded in income (with an equivalent amount in expendtturel and facilities where the benefrt to the Charity ts reasonably quantrftsle, measurable and material. Volunteer help The value of any volunteer help receNed is not included in the accounts. Investment income This is included in the accounts when receivable. Gainslllosses} on This inCdeS any gain or loss resufting from revaluing investments to rnarket value revaluation of fixed at the end of the year. assets Gainslllossesl on investment assets This includes any gain or loss on the Sa of investments. Expend•lure Recognition of expendr(ure Expenditure is recognised on an accruals basis. Expendilure includes any VAT which cannot be fulty recovered. and is Ported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary incorne, fundraising raising funds trading costs and investment management costs. Expenditure on These Comprise the costs incurfed by the Charrty in the delivery of its actlvities and charitable activtties services in the furtherance of its objects. including the making of grants and 80¥emance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constrtutional and statutory requirement5 of the Charity. including any auditlindependent examination fees. tosts linked to the strategic management of the Charity, together with a share of other administration costs. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure Taxatlon The charity is exempt from corporation tax on charitable artivities. Page 12
The L20 Hub Notes to ihe Accounts Freehold investment propertv Investment properties are measured inilially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Artivities as thev rise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willin8 to pay for the item5 on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade dCOunt5 due. Cash and cash e4Mlents Cash and cash equivalents comprise cash at bank and on hand. demand deposits with banks and other short-term highly liquid Trnvestments with original maturrfties of three months or less and bank overdrafts. In the statement of financial position. bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows. cash and cash equivalents are shown net of bank overdraft5 that are repayable on demand and form an integral part of the company's cash management. Trade and other credito Short term creditors are measured at the transacth)n price. Other creditors and provisions are recognlsed where the charity has a present obligation resulting from a past event that will probab result in the transfer of funds to a third party and the amount due to settle the oblvdation can be rneasured or estimated reliably- Creditors and provisbons are nornially recognised at their settlement amount after allowing for any trade discounts due. Re5ear¢h and development Expenditure on research and development is written off in the year in which it 15 incurred. Foreign curren¢les Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rate5 of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity a recorded at the rate of exchange on the date that the transartion occurred. All exchange diffenceS are a tsken into account in arri¥ing at net irKomelexpenditure. Page 13
The L20 Hub Notes to the Accounts Leased assels Where the charity enters into a lease which entails taking substantialty all the risks and rewards of ownership of an asset. the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to tharity are classified as operating leases. Assets held under finance aSe$ are initially recognised as assets of the chartty at their fair value at the inception of the lease or. if lower, at the present value of the minimum lease payments. The correspondbng liability to the lessor is included in the balance sheet date as a finance lease oblF&ation. Lease payments are appOrtned between finance expenses and reduction of the lease obligation so as to athieve a constant rate of interest on the remaining balance of the liability. Finance expenses are reco8nised immediately. unless they are dire attributable to qualifying assets, in which case they are capitalised in accordance with the charity's wlicy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned a55ets. Operating lease payments are recoenised as an expense on a straight-line ba515 over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggre8ate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension Costs The charity operates a defined contribution plan for its employees. A defined contribution plan is pension plan under which the company pays red contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are reco8nised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independentty administered funds. Receipt of donated goods, faclllties arml services All donated goods, facilities and services recewed are recognsed within incoming resources and expenditure at an estimate of the value to the charity- 2 Company status The company is a private ccmnpany limited by guarantee and consequently does not have share capital. Page 14
The L20 Hub Notes to the ACtnts 3 Intome from doTratlons and legacies Unrestrlrted Total 2023 Total Z022 Sefton MBC- Youth Work Sefton MBC- Neiehbourhoods Division Canal & River Trust 25.(KKI 25,000 25,1 40,000 40, 4,190 PH Holt National Lottery Communty Fund 38,438 38,438 Burbo Bank 4.446 500 4,446 500 Sefton CVS Donations 897 1.097 210 Job Retention Scheme 13,674 86,074 897 109,584 110,481 4 Income from tharitable acti¥itie5 Unrestricted Total Total 2023 2022 Activity Fees Mini Bus Hire 4,030 250 250 250 250 4,6 S Income from investments Unre5trirted T¢)tal Total 2023 2022 Bank Interest 673 673 17 673 673 17 Page 15
The L20 Hub Notes to the Accounts 6 Expendilure on charitable artivities Unre5trirted Restricted Total 2023 Total 2022 Expenditure on charitable octAVlties Activity Fees Mini Bus Hire 4.847 2.867 4,545 86.389 4.073 4,847 2,867 4.545 87,007 7,438 5,281 3.376 618 Food Purchases Employee costs Premises costs 618 80.143 10,453 3.365 Amortisation. depreciation. impairment. profitlloss on disposal of fixed assets General administrative costs 6,340 6.340 8,422 701 10.068 7.295 10,769 7.295 10,660 8,385 Legal and professional costs Governonce costs 11.024 120,084 131,108 127.338 7 Other expendityre Unrestricted Restrlrted Total Total 2023 2022 Employee costs Premises costs Amort15ation, depreciation. impairment, profitlloss on disp)sal of fe assets General administratNe costs 618 86.389 4.073 87,007 7.438 80,143 10.453 3.365 6.340 6,340 8.422 701 10.068 7,295 107,825 10.769 7,295 118.849 10,660 8,385 118.063 Legal arbd professional costs 11.024 8 Net expendlture before translers 2023 2022 This is stated after chargin8'. Depreciation of owned fixed assets 9 stsff costs 6.340 8.422 2023 84,730 1.509 277 86.516 2022 78,038 1,236 229 79,503 Salaries and wages Social securitv C05ts Pension costs No employee received ernoluments in excess of £60.(m. Page 16
The L20 Hub Notes to the Accounts 10 Tangible fixed aets Cost or revaluatlon At l April 2022 At 31 March 2023 Depreciation and impaim)ent At l April 2022 Depreciation charge for the year At 31 March 2023 54,499 54,499 9,222 9,222 63,721 63,721 30.910 6,727 37,637 5.897 443 6,340 36,807 7,170 43,977 Net book rdlues At 31 March 2023 At 31 March 2022 11 Debtors 17.692 23,589 2,052 2.495 19.744 26,084 2023 2022 Trade debtors Other debtors 1.3(Kl 4.060 8.050 1.3 12 Credlt¢rs: amounts falling due wrthin orte year 2023 2022 Othertaxes and social security Other creditors Accrua15 8,032 62 213 300 5CK) 513 8,594 Pa8e 17
The L20 Hub Notes to the A¢¢ounts 13 Movement in ldS Incoming resour5 At31 March 2023 Resources expended Gross tra115fers lin¢ludin8 At l April other 2022 gainsllosses) Restricted funds: Restricted Income fuftds: National Lotterycommunily Fund Bridge - Sefton MBC Footlbank Children In Need Canal & River Trust 38.438 132.7921 (lo.2) 14,5321 11.5571 14.1251 125,1351 5.646 10,IX12 4,532 1.557 4,190 32,830 1.065 32,895 Sefton MBC Youth Projert Sefton MBC Neighbourhoods Division Steve Morgan Foundation Park Project PH Holt Burbo Bank 5efton CVS jubilee Fund 25,2(M) 5.120 166 862 273 137.9011 7.219 166 862 273 9)6 4,446 13.5401 15001 Totol 59.532 109.584 1120.0841 49,032 Unrestrfded funds: General funds 33,284 1.820 111,0241 6.340 30,420 Designated funds: Fixed Asset Fund Business Contingency Fund Property Development Fund Tot¢71 26.084 5,0 16,51Xl 16,3401 19.744 s,0 16,500 47,584 16,3401 41.244 Totsl lunds 140.4C 111.404 1131.1081 120,696 Purp05e5 and $triCt10n$ in relation to the funds: Restricted funds- National Lottery Community To support operath)ns and employee cost. Fund Bridge - Sefton MBC Foodbank To supwrt young people with additional needs. To supwrt local community during cost of living crisis. To supw)rt local community during cost of living crisi5. Grani was awarded to cover staff training. Commissioned seNKe fvnding to support young people. Children In Need Canal & River Trust Sefton M8C Youth Project Page 18
The L20 Hub Notes to the Accounts Sefton MBC Netghbourhoods Commissioned funding for communty work. Division Steve Morgan Foundation Park Project PH Holt Burbo Bank Sefton CVS Jvbilee Fund Awarded during Covid-19 for tommunty projects. This grant was given to Supr project based around green spaces. Core funding 10 SUPlX)rt or operations. This grant wa5 Erven to support project based around green spaces. Awarded to lebrate the Queen's Jubilee. Desi8nate(J funds.. Fixed Asset Fund Represents monies ordinarbly not available for charity. Business Contingency Fund To support any unplanned expenditu. Property Development Fund To support repaits and renewal of premises. 14 Analysis of net assets between funds Unrestrirted nds Restrfrted fund5 Totsl Fixed assets 19.744 51,920 71,664 19,744 100,952 120.696 Net current assets 49,032 49.032 15 Reconciliation of Cash I (Net debt) At31 Mafch 2023 At l April 2022 Cash flows Cash and cash equivalents 114,860 114.860 114,6951 114,6951 ICQ.165 l(M),165 Net Cash / INet Debt) 114,860 114.6951 IC(1,165 FRS 102 requires an entity to report change5 in net debt in the accounting period. The L20 Hub d¢)es not carry any debt or other born>wirbgS and has a positrrfe net cash position. Page 19
The 120 Hub Notes to the Accowfts 16 Commitinents Opemting leose commitments Annual commitments under non-cancellable operating leases are as follows: 2023 Land and 2023 2022 land and bulldings 2022 Other Other buildings Operating leases with expiry date: Pension commitments 2023 2022 The pension cost charge to the compary amounted to-. 277 229 17 Related party disdosure$ Controlling porty The company 15 limited by guarantee and has no share capital- thus no sin8le party controls the company. Si£n•ture'. Emall: eloise@the120hub.co.uk Page 20