Charity Registration No. 1152041 Company Registration No. 08351592 (England and Wales) LIVERPOOL INTERNATIONAL NORDIC COMMUNITY TRUSTEES. REPORT AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees H E Busby M H Metcalf R G Metcalf U Norddahl E Hughes BEBech Kvik I C Hughes (Appointed 18 February 2024) Secretary M H Metcalf Charity number 1152041 Company number 8351592 Principal address Gustaf Adolf Church 138 Park Lane Liverpool L1 8HG Principal address Gustaf Adolf Church 138 Park Lane Liverpool L18HG Independent examiner: J R M Simcox FCA Simcox & Co. Chartered Accountants 35B Market Street Hoylake Wirral CH47 2BG Bankers: HSBC 99 - 101 Lord Street Liverpool L2 6PG
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent examiners, report Statement of financial activities Balance sheet Notes to the accounts 9-12
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and accounts for the year ended 31 March 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts Structure, governance and management The charity is a company limited by guarantee and was incorporated on 8 January 2013. The trustees, who are also the directors for the purpose of company law, and who served during the year were: H E Busby M H MetGalf R G Metcalf U Norddahl E Hughes BEBech Kvik I C Hughes (Appointed 18 February 2024) The trustees of the charity were selected and appointed on the basis of their potential involvement in the objectives of the charity, and for the particular skills and experience they have to offer the charity. None of the trustees has any beneficial interest in the company. All of the tmstees are members of the company and guarantee to contribute £1 in the event of a winding up. The Board of Trustees meet on a regular basis to discuss the management and activities of the charity. The trustees have assessed the major risks to which the charity is exposed and are satisfied systems are in place to mitigate exposure to the major risks.
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectives and activities The objects of Liverpool Intemational Nordic Community {LiNC) are specifically restricted to the advancement of the Christian religion and the advancement of education in such ways as the trustees think fit and the provision and maintenance of facilities for use for meetings, lectures. classes and other forms of recreation and leisure time occupation, with the object of improving conditions of life. Without prejudice to the generality of the foregoing, this may include.. to advance the Christian religion in particular but not exclusively amongst Nordic people living in or visiting the North West of England and North Wales by the operation of a Ghurch in Liverpool. to advance education for the public benefit. in particular but not exclusively by the teaching of Nordic languages, culture, and heritage. to provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age infirmity or disability. financial hardship. or social circumstances with the object of improving their conditions of life. This provision may be amended by special resolution but only with the prior consent of the Commission. The vision of LINC is.. to be a centre of excellence. situated in the Gustaf AdoW Church, forthe support, promotion, and development of all that is Scandinavian. to support a community that incorporates people from Sweden, Norway, Iceland, Finland, Denmark. and the Northwest of England. to develop a network of contacts for the Nordic communty in the Northwest of England and North Wales. to secure adequate funding to refurbish the church building to a modem standard, meeting current regulations for aGGess and safety. The ongoing mission of LINC is- to provide for the spiritual welfare of the Nordic community and to foster links with local churches and other local community groups including the local people of Liverpool and Northwest England and North Wales. to maintain a quality building as a focal point for the activities of the church and the LINC Charity. The Charity may accept gifts. donations. subscriptions, and legacies. Details of restricted and unrestricted receipts and expenses can be found in the Statement of Financial Activities. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance The LINC charity company has continued to shown an improvement from last yearfs performance. Income was up to pre-pandemic level, and expenditure was only slightly higher than last year. This was following a board decision to continue to minimise expenditure, but to do all that was required in terms of repairs and maintenance other than the major work on restoration of the building. LINC Charity Company remains in a good financial position. The policy decisions on significant Financial Contingency levels taken by the LINC Board several years ago continues to be a significant help in our financial situation. We are very pleased that Cinna Hughes has accepted the position as a new Director of the LINC Company. There will shortly be Iwo further people appointed next year. Activities All our usual activities have been in operation this year. The regular activities are religious SeiceS and cultural events, with all the following contributing to income. These are coffee morningsl film nightsl handicraft Groupl concerts and we now also hire out rooms during weekday evenings for band and choir practices, an art class and a self-help group. The handicraft group is now classed as a separate activity and resulted in an income of £1,680. The Christmas bazaar is shown as lower than the previous years, because the craft sales during the event are now shown separately. The bazaar income was £3,418. The weather was not good on the day, and we did not get as much advertising as in previous years. The Board thanks the relatively few volunteers and the handicraft group for their significant contributions in these activities. Membership Thankfully, membership has remained steady, there are currently 120 members of Ihe LINC Company. This has generated an income of £3.512. which is much appreciated by the LINC Board. Building Electrical work - the standard Fire Alarm and Emergency Light testing were carried out as required by law for a public building. A major testing of all the electric equipment must be carried out next year and this will inevitably need funding. Boiler Servicing - the two boilers had the regulation testing carried out. As stated last year, the heating boiler required new waler feed equipment. We now have the reports on all repair work required to upgrade the building to first class condition. The work required is very extensive and the costs of the work required are extremely high and beyond our ability to carry out without significant grant monies. We have not yet stsrted on the search for significant grant funding or other sources of monies. It was necessary to repair a collapsed main drain in the garden. which cost £3,834. Also. we carried out trimming of the trees and the hedges in the car park area. which cost a further £1.740. Gas and Electricity power supply- The current 3-year contract for the supply of power to the building is coming to an end in the next year. We need to prepare ourselves for a large increase in the costs of supplv. Car Park LINC has continued with the hiring out of the car park and been able to fill all the parking spaces throughout the year and this gave us an income of £9.125.
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Renlal Income and Bank Interest The income from renting out the facilities for concerts and other activities also increased with an income result of £7,806. There was also a significant payment from bank interest of £2,358. LINC Operations Tradlng Company This is the part of the company which runs all the calering activities, and Ihe Bed and Breakfast. The ability to have our rooms fully available again has resulled in a significant income. The regular coffee mornings and refreshments served at concerts and other functions created an improved income on last year. After costs, this resulted in a donation to LINC Company of £16,905. which is a £2.200 increase on last year. Loss of Light Compensation from Legacie Company Development of Heaps Mill Site The Nordic Church in Liverpool 1883 Trust Co owners of the building who have given a lease to the LINC Company to run all activities. maintenance. insurance and all the running costs of the building have authorised the LINC Company to carry out the negotiations regarding compensation for loss of light on the building caused by the erection of a block of flats immediately next door across Comhill Street and called Ihe Heaps Mill Site. The negotiations have been taking place throughout the year with the assistance of a fully qualified loss of light surveyor. No satisfactory conclusion has yet been reached. Financial Review and Reserves Policy It is the policy of the charity that a high level of unrestricted funds, which have not been designated for a specific use, should be maintained at a level equivalent to at least one yearfs expenditure. The trustees consider that reseNes at this level or higher will ensure that, in the event of a significant drop in funding. they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. Thus, this year, the annual result costs on the running of the building and activities showed an increase in funds of £12.731, which is a significant improvement on last year. This resulted in an increase of the reseNes from £131,809 to £144,541. On behalf of the board of trustees R G Metcalf Trustee Dated: 27 September 2024
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees. who are also the directors of Liverpool Intemational Nordic Community for the purpose of company law. are responsible for preparing the Trustees. Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these accounts. the trustees are required lo.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent" and prepare the accounts on the going concem basis unless it is inappropriate to presume that the charity will continue in operations The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other iegUlaties.
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIVERPOOL INTERNATIONAL NORDIC COMMUNITY I report on the accounts ofthe charity for the year ended 31 March 2024, which are set out on pages 7 to 13. Respective responsibilities of trustees and examiner The trustees, who are also the directors of Liverpool Intemational Nordic Community for the purposes of company law, are responsible for the preparation of the accounts. The trustees consider than an audit is not required for this year under section 144(21 of the Charities Act 2011. the 2011 Act, and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to- il examine the accounts under section 145 of the 2011 Act- ill follow the procedures laid down in the general direclions given by the Charity Commission under section 14515){b} of the 2001 Act., and iiil state whether particular matters have come to my attention. Basis of independent examinerfs report My examination was carried out in accordance with the general Directors given by the Charity Commission. An examination includes a review of the accounting records kepl by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The prOdureS undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matter set out in the ststement below. Independent examiner's statement In connection with my examination. no matter has come to my attention- al which gives me reasonable cause to believe that in any material respect the requirements: i) to keep accounting records in accordance with section 130 of the Charities Act 2011,. and ii) to prepare accounts which accord with the accounting records, comply with the accounting requirements of the Charities Act 2011 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities., b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. J R M Simcox FCA Simcox & Co. Chartered Accountsnts 35B Market Street Hoylake Wirral CH47 2BG Dated.. 27 September 2024
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds Total 2024 Total 2023 Notes Incomin resources from Donations and legacies Investment income enerated funds 17,245 2,358 17,245 2,358 15,461 498 19,603 31.344 19.603 31.344 15,959 29,690 Incoming resources from charitable activities Total incoming resources 50,947 50,947 45,649 Resources ex ended Charitable Activities Charitable expenses 38,216 38,216 35,244 Total resources expended 38,216 38,216 35,244 Net income for the yearl Net movement in funds 12,731 12,731 10,405 Fund balances at 1 April 2023 224,165 5,146 229,311 218,906 Fund balances at 31 March 2024 236,896 5.146 242,042 229,311 The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. The restricted funds relate to monies donated for the publishing and publicity of the charity-
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Fixed assets Investments 97,501 97,501 Current assets Deblors Cash at bank and in hand 1,888 142.653 1,793 130,017 Creditors- amounts due within one year Net current assetsl{liabilities) 144,541 131,810 Total assets less current liabilities 242,042 229,311 Income funds Restricted funds 5,146 5,146 Unrestricted funds 236,896 224,165 10 242,042 229,311 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006 for the year ended 31 March 202 No member of the company has deposited a noti. pursuant to section 476, requiring an audit of these accounts. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which company with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of, resources including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. The accounts were approved by the Board on 27 September 2024 R G MetGalf Trustee Company Registration No. 08351592
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies 1.1 Basis of preparation The accounts have been prepared under the historical cost convention. The accounts have been prepared in accordance with applicable accounting standards, the Statement of Recommended Practice. "Accounting and Reporting by Charities". issued in March 2005 and the Companies Act 2006. 1.2 Investments Fixed asset investments are stated at market value. The market value of the fixed asset investments is equivalent to the cost value. Donations and legacies Unrestricted Restricted funds funds Total 2024 Total 2023 Donations and gifts 17,245 17,245 15,461 Investment income 2024 2023 Interest receivable 2,358 498 2358 498 Incoming resources from charitable activities 2024 2023 Membership fees 100 Plus Club Fundraising Bazaar Rental income from church hire Car park hire Lucia Books and prints Gift aid VAT refund Craft group 3,512 3,651 902 2,097 5,403 6,399 8,020 370 193 1,305 1,350 2,808 3.418 7,806 9,125 267 110 1,771 1,680 31,344 29,690
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Total resources expended 2024 2.023 Charitable activities 100 Plus club Rates and water Heat and light Telephone and TV licencing Insurance Cleaning and refuse Repairs and renewals Other premises costs Equipment Postage and stationery Accountancy fees Sundry expenses Bazaar Lucia Professional Bank charges Website and computer costs Donations 436 2,768 6,997 1.045 7.257 3,887 9,685 2,986 169 19 750 469 2,499 7,012 981 6,939 4,006 5,426 6,052 30 56 750 146 331 286 31 1,200 158 158 128 269 150 38,216 35,244 Trustees None of the trustees (or any persons connected with them) received any remuneration during the year. Employees There were no employees during the year. 10
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Fixed asset investments Shares in group undertakings and participating interests At 1 April 2023 and at 31 March 2024 Holdings of more than 200/. The company holds more than 20 % of the share capitsl in the following companies= Company Country of registration or incorporation Shares held Class Subsidiary undertakings LINC Operations Limited England & Wales Ordinary 100 The aggregate amount of Gapital and reserves and the results of these undertakings for the lasl relevant financial year were as follows.. Capital and reserves Profitl{loss) for the year Principle Activities LINC Operations Limited bed and breakfast facilities together viith provision of refreshments The wholly owned trading subsidiary commits all of its profits to the charity under the gift aid scheme. The relevant financial period for LINC Operations Limited is 31 March 2024. Debtors 2024 2023 Amounts owed by group undertakings 1,888 1,793 1,888 1,793 The above debtor relates to donations committed to the charity at the year end by its wholly owned subsidiary, LINC Operations Limited. 11
LIVERPOOL INTERNATIONAL NORDIC COMMUNITY NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Analysis of net assets between funds Unrestricted Restricted funds funds Total Fund balances at 31 March 2024 are represented by- Investments Car Park Current assets 97.500 139,395 97,500 144,541 5.146 236.896 5.146 242,042 12