REGISTERED CHARITY NUMBER: 1155282
Trustees, Report and
Flnanclal Slatements
for the Year Ended 31 March 2024
The Llversage Trust
Bourne & Co.
Statutory Auditors
47a Queen Street
Derby
Derbyshire
DE1 3DE

The Liversage Trust
Contents of the Financial SLgtements
for the Year Ended 31 March 2024
Page
Trustees, Report
S&￿ement ot Trustees, Responslbilltles
Report of the Independent Auditors
Statement of Financial A¢tivities
10
Balance Sheet
Cash Flow Statement
12
Notes to the Cash Flow Statemenl
13
Nolès to the Flnanclal Statemants
14 to 23

The Llversage Trust
Trustees, Report
for the Year Ended 31 March 2024
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. The
trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 102) (effective 1 January 20191.
The Trustees present their report to accompany the accounts for Ihe period ending 31 March 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Charity Name: The Liversage Trust
Charlty Number: 1155282
Principal Office: The Board Room. London Road, De￿y, DE1 2QW
Trustees: The Trustees who served during the year, all of whom are volunteers, were as follows-.
Mr Malcolm Allsop (Chair)
Ms Sue Glithero (Vice Chairl
Mr Les Allen
Mr Tim Benson {Nominated by the Parochial Church Council)
Mr John Brittain
Cllr Mike Carr (Nominated by Derby City Council - served 01104123 to 28101124)
Mr Richard Docker
Mr Michael Foote
Cllr Shiraz Khan (Nominated by Derby City Council}
Mr Don McLure
Cllr Jerry Pearce (Nominated by Derby City Council - served 01104123 to 28101124)
Ms Mary Streets - resigned 29101r24
Mrs Janet Till- seNed 01104123 to 07102124 (deceased)
Mr Roy Webb
General Manager.. Andrew Mellors BA (HONS) PGDIP CERT CIH
Audltor: Boume & Co, 47a Queen Street. Derby, DE1 3DE
Bankers: Natwest Bank, Crompton House. Derwent Str6et, Derby, DE12ZG
Sollcitors: Flint Bishop LLP St. Michael's Court. St. Michael's Lane, Derby, DE13HQ
Pensions Adviser: St8ve Cant and Associates Ltd, 61 High Road. Chilw811, NG9 4Ki
HR Adviser: Guardian Support, Lyndon House. 62 Hagley Road. Birmingham. B16 8PE
Health & Safety Adviser: Howarths, Newbury Court. Brooke Street, Cleckheaton, BD19 3RR
The Trust promotes whistle-blowing services offered by th8 Charity Commission and Protect and is a member of the
National Asswiation of Almshouses, which is a support charity representing 1,600 independ8nt almshouse charities
throughout the United Kingdom.
In 2023124, the Trust continued to manage six properties owned by the Lillian Prime Trust, a small local charity that
supports people diagnosed with Multiple S¢lerosis. Separate administrative and financial arrangements are in place, and
Trustees receive regular reports of the arrangement, which is set lo continue into the next financial year.
OBJECTIVES AND ACTIVITIES
The objects of the Charity. as expressed in Ihe Constitution are- 'lo provide relief either generally or individually to those
persons resident in the area of benefit who are in need, hardship or distress (including but not limited to those who are
aged, sick or infirm) through the provision of grants, alms or other residential accommodation, housing. services, facilities
andlor goods..
Page 1

The Liversage Trust
Trustees, Report
for the Year Ended 31 March 2024
The Liversage Trust is an Almshouse Charty providing accommodation for elderfy and frail older people and making
grants for the relief of povety. The Trust operates exclusively within the City of Derby. We provide 163 homes for
independent older people on four estates across the city, and manage a 40-bed residential Care Home, Liversage Court,
which provides residential care for frailer elderfy people. We also provide grants to residents in Derby, who are in
hardship, to help them obtain essential household items, and offer limited linancial support to people at a time of crisis.
Our portfolio also includes a small number of houses and flats that are let without age restriction, and a few commercial
premises that provide an income to support our charitable aclivities.
Trustees ensure through good governance thal the aims and objectives of the Trust are achieved. and fully comply with
their duty, as described in section 1715) Charities Act 2011, to have due regard to the Charity Commissions public
benefit guidance when exercising any powers or duties to which the guidance is relevant.
Trustees review policy on grant making annually, with guidelines updated and easily accessible to all. For 2023124, the
total granls budget was maintained, after an increase the previous year. to continue providing support for people in
emergency situations, particularly those needing support with food and utility costs, owing to the on-going impact of high
inflation and 'cost of living, pressures. In ass¢xiation with this, we reviewed grant awards available to individuals and
maintained our management approach towards the Household Fund. limiting spend each month, and operating opening
and closing periods wilhin which applications Could be made.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Liversagé Trust is established as a Charitable Incorporated Organisation. The Charity's origins dat8 back to 1529,
founded by the Will of Robert Liversage. The current Governing Instrument is a Scheme made by the Charity
Commissionèrs on 18 February 1971, which stands as amended by subsequent Schemes.
Following a 'Governance Review, the previous year, a number of minor changes were made to the Trust's Constitution
on 4 April 2023, leading to a revised governance and meeting structure being implemented from January 2024 onwards.
This saw the Trust move from a series of standing committees {Care Home. Estates, Finance and Strategic Policy Panel)
which reported to Board on a quartedy basis, lo effectively, bi-monthly Board meetings covering all aspects of the Trust's
operations. The intention was to streamline operational processes and reporting mechanisms, while involving all
Trustees in key discussions and maintaining strategic focus. While il is considered that working parties, dealing in detail
with specilied matters, will still be required at varying times.. this will be on an 'as necessary, basis and not a regular
feature. such as the previous Personnel Working Party (PWP) which met four times a year. To ensure a smooth
transition to the new approach. a considerable amount of time was spent reviewing Standing Orders and Financial
Regulations to ensure our operating rules accurately reflect our revised mode of operation and that the Trust maintains a
distinction between Governance and Management.
Our current Constitution allows for up to ten appointed, plus one éx-officio trustee Ith6 Vicar of St Peter's Church that
currently remains vacant, following retirement of the previous post-holder) and Iwo nominated trustees (one each from
Derby City Council and the Parochial Church Council, which would include the Vicar of St P6tèrfs Church, should this
post be filled). In selecting individuals for appointment. the Charity Trustees have regard to the skills. knowledge and
expèrience neèded for the effective administration of the Charity-
All new Trustees are supplied with a comprehensive induction pack inclu¢Jing the Governing Instrument, latest published
Accounts, and a copy ol 'Slandards of Almshouse Management, published by the Almshouse Association. They are
invited to have an induction meeting with the General Manager. Training for both new and seNing Trustees is mainly by
attending seminars organised by the Almshouse Associalion, either in person or virtually, although tailored group training
is provided in areas such as 're¢ruitment and selection, and 'equality and diversity., A specific budget is mainlained for
this purpose.
During this transition year, the Board of Trustees met five times and appoinled Standing Committees (up to 29 January
2024) as follows..
Finance Committee (met twice during the year)
Estates Committee (met three times during the year)
Care Home Committee {met three times during the year)
Strategic Policy Panel (met three times during ihe yearl.
Policies and operating proceduras continued to be regularly reviewed throughout the year which, during 2023124,
included Standing Orders, Financial Regulations, Data Protection, Disciplinary Code. Grievance Pr￿edUre and Flexible
Working.
Page 2

The Liversage Trust
TNstees' Report
for the Year Ended 31 March 2024
Marketing
Over the last few years, the Trusl has worked hard to improve our marketing strategy for the Trust and develop our brand
to improve awareness of the full range of work undertaken by the Charity. During 2023124, the Trust continued its
partnership with a local company called Imaginaire. to assist with our online social media presence and to update and
maintain key plattorms for promoting our seNices and providing vital information to residents. Moving lo￿ard, we will
continue to explore extending partnership working through this approach. while continuing to develop existing
partnerships, operating with a range of organisations to ensure we reach those Derby people most in need of our
support. A good example is in delivering our Household Fund Grants, where we work closely with Derby City Council,
housing associations, health service, probation, Derby Women's Centre, and other local charities to provide people in
need with essential household items.
ACHIEVEMENTS AND PERFORMANCE
Liversage Trust continues to make a positive difference to the livas of its beneficiaries. At ils core is maintaining quality
housing and support for older people, at a cost well below market levels.
Mainlaining the property portfolio
The value of properties is maintained through ongoing invastmenl in repair and renovation. The in-house maintenance
team deliver a responsive repairs service, supported by specialist contractors as required. while major caprtal projects
are tendered to ensure the right balance between quality and value.
The Trust has adopted a policy of applying revenue income to upkeep its housing stock and andowment propety and
remains committed to upgrading seNi¢es and facilities for its residents. meeting major expenditure, where appropriate.
from designated reserves. We have a comprehensive investment programme to 2038139. detailing costs and funding lor
major works and additions to our portfolio.
While the last few years have been dominated by high inflation, this has necessitated regular review and re-prioritisation
of projects, owing to issues such as cost increases, supply of materials and contractor availability- Despite this, in
2023124, Ihe Trust still completed several major improvement projects. This included refurbishment of bathrooms at
Franchise Street and Nottingham Road, boiler replacement at the Keys Street estate. repairs lo a retaining wall at
Drewry Lane, including tarmac renewal and completed a fence replacement programme at the Keys Street / Nottingham
Road estale. Where work has been completed. residents benefiting from these programmes have been highly delighted
with all the work and improvements undertaken.
While loss of income from our commercial propety portfolio has generally remained a low risk over Ihe last few years.
rental growth remains limited owing to other Ma￿et factors such as properties not occupying prime city centre Iccations,
propety age and current market position. While the overall position is kept under review, we also conlinue to explore
alternative options for longer-term investment income. This includes continued review of opportunities to extend our
portfolio. mainly focusing on making the most out of existing assets. During 2023r24. this included the conversion and
refU￿iShment of our Alice Street Works site inlo a new office and workshop for Ihe Twst, which was completed in March
2024. This is a first step in enabling wider refurbishment at London Road, including our old offic8 back into almshouse
accommodation. plus development at Cla￿e Street. which remains a long6r-t8rm objective.
Trustèes continue working towards a converged 'rent' structure for residential propety, reviewing our approach during
the year to bring greater parity between charges for similar properties, applying a modest increase in weekly
maintenance contributions year on year.
Ensuring an effective service for residents
We carry out an annual review of resident support preferences and adapt our seNice to meet the requirements
expressed. Residents continue to benefit. as required, from regular visits, telephone contact and free emergency call
alarm technology. Our Resident Support Officer IRSO) position remains a strong advocate for all residents, while also
supporting residents with more complex needs to access wider and specialist support seNices, making a positive
difference to people's lives. For example, this can be seen in the on-going work to support individual residents to claim all
benefits that they are entitled to and assisting with arrangements for emergency respite care. As many of our residents
live alone and do not have extensive family support networks, our RSO and wider stafling team often go above and
beyond to help in times of need. visiling residents who have been admitted to hospital and bringing them their personal
belongings to make their stay in hospital more comfortable. The Trust provides a Community Centre resource on two
estates, which benefits not only our residents. but the wider community. We also arrange and promoted a variety of
outings and activities for residents to enjoy, should they choose to take part. We also produce and distribute a regular
newsletter and resident support estate updates which are welcomed by all residents.
Page 3

The Liversage Trust
Trustees, Report
for the Year Ended 31 March 2024
In 2016, our Care Home was one of a select few in Derby to be rated 'GOOD' by the Care Quality Commission ICQC) in
each ol the five fundamental standards of care. After a re-inspection in December 2018. we retained this rating and have
continued to do so up to the present time, including during the COVID outbreak and more recent implementation of their
new regulatory approach. The CQC after our last inspection stated that people living at Liversage Court receive a good
service. They stated: 'People told us how happy they were there and how the seNice met their individual and diverse
needs. Staff were very positive about their work, and clearly respected each person as an individual. supporting them
with kindness and good humour.. Since this time, staff have continued to work hard, despite on-going challenges in the
sector. to maintain this approach and to provide a safe, effective. caring, responsive and well-led servic6.
Wlder communlty benefils
The activities and partnership working of Liversage Trust also delivers wider benefits to the people of Derby. We work
closely with a range of organisations in delivering our Household Fund Granl service to ensure we reach D8￿Y people
mosl in need of our support. Throughout 2023124, work has continued to improve grant-giving services, making it easier
for support workers and other agenls to refer clients for assistance. Refinements continue to be made to our application
process. which is now via a fully online system, while we constantly review processes by which go¢)Js are ordered and
received, ensuring grant recipients receive good quality items in the shortest possible time. We also continued to provide
emergency aid to Derby residents via the Janet Till Crisis Fund (named after our late lormer Chair) which. as well as
providing funds for utility aid or food, also covers emergency travel costs for Derby residents to access rehabilitation
services, complemenling household goods already on offer. Where possible, we also refer residents and applicants inlo
wider external support programmes. particularly those led by Dert)y City Council to support individuals with the on-going
'cost of living, pressures being experienced. so thal as much support as possible is given to those who need it.
Since April 2016, we have delivered a management role for six properties owned by Lillan Prime Trust.. a small Derby
based charity that provides homes for people suffering Irom Multiple Sclerosis or any oiher physical or mental disability
and in need of housing and any other associated amenities specifically designed or adapted to meet their needs. The
driving force behind our involvement was Lilian Prime Trustees, belief that we could deliver improved services to their
residents. This has proved to be the case, and we continue lo make a positive difference to the lives of individual
rèsidents of that charity, arranging regular repairs, well-being visits and access to emergency alarms and support
services.
We also work closely with 'Poss+Abilities Dance and Fitness Group. a Derby-based organisation providing support and
opportunities for adults with differences 'where anything is possible.
They run classes three times a week from our
community centre at Alice Street, while we have also organised joint events and garden parties for residents and the
wider community to enjoy tog6thèr.
Investment performance
While the Trust's investment performance ov8r the last few years has Iluctuated widely, owing lirst to COVID and then
wortd-wide events. the Trust's invéstment performance during 202W24 has continued to meet objectives set by Trustees,
which include..
Presejve and enhance where possible the value of investments without taking undue risks.
Retain minimum daily balances in the Bank account and Charities Official Investment Fund (COIF) deposit fund of
£100,000 and £250.000, respectively.
Retain sufficieni liquid assets to respond to opportunities as they arise to strengthen our existing asset base.
Only encash medium-term investments when required and when profitable to do so.
Reduce risk by spreading investment over a wide range of stocks and shares via Common Investment Funds
Limit investment in banks and building S¢Xi8ties to totals covered by the Financial Services Compensalion Scheme
(FSCS).
The Trust's investment policy continues to be based upon security, liquidity. income, capital'growth and no oth6r factors.
Short and medium-term investments (of between 5 and 10 years) are principally via large holdings in CCL4 COIF
Investment Fund and Propety Fund and M&G Funds (previously NACCIFI which are easily manageable and secure. In
2023124, inveslment performance in these holdings for the most part, performed well and that, overall. expectation on the
retum from long-term investments remains positive and is expected to exceed inllation over time. The Trust receives
monthly reports from Fund Managers and meets with them as appropriate, for additional expert advice.
Page 4

The Liversgge Trust
Trustees, Report
for the Year Ended 31 March 2024
FINANCIAL REVIEW
The Trust's aim is to preserve and enhance the Tnjst's asset base and invest wisely to secure the long-term
sustainability of the Charity. Through good governance and a low-risk approach, the Trust is in the fortunate position to
be financially stable and self-sufficient.
The Trust's financial model ensures that expenditure on housing and support activities, including appropriate
contributions to designated reserves, are met by income generated by those activities, with any surplus regarded as
supplementing charitable giving.
As we now have a capital programme detailing proposed work up 2038139, we have estirnatèd that to meet the costs of
all work identified. encashment of some investments may be required, in addition to use of reserves. This is kept under
review however. we closely monitor markets, and review timescales and approaches towards major expenditure, such as
new development at Clarke Slreet, balancing this against the need to invest in maintaining existing properties. As it is
likely new development will still be several years hence, this allows time for other funding opportunities to be explored, if
required.
R8seNes position
The Trust is in a strong position in temis of both its revenue account and balance sheet, and holds investments in a
range of low risk. medium yield funds including Common Investment Funds, Charities Official Investment Fund Deposits
and M&G's Charifijnd and Charity Multi Asset Fund. Our approach is set out in our Reserves Policy.
A salient leature of Ihe T.rust's plan is to continue, as far as resources pemiit, to build up investments to meet eXP6Cted
demands and to take advantage of opportunities to add to its housing and commercial propety base. At the year end, we
hold £9.4m investments that will help realise the Trust's future development ambitions and is more than adequate for the
Trust's long-term stability. We have made material transfers into reseNes over the last few years, specifically into our
Propety Development Fund, to support our planned residential conversion and development programme to 2039. While
yel to move in, during 2023124 we completed Ihe pr￿esS of converting existing premises into a new Maintenance Depot
and office. This is a first stepping-stone to further refurbishmenvdevelopment across our porttolio, that potentially will
lead to improvements at London Road and a significant re-development programme at Clarke Street.
Managlng Rlsk
The Trust. in addressing the matter of risk management and assessment. has in place an extensive system of internal
controls including regular meetings. external and internal audit. budget monitoring, management accounts, Standing
Orders, Financial Regulations and a variety ol written policies. All policies are subjéct to planned, periodic review. We
maintain a Health and Safety Action plan with support from The Trust's appointed competent person, under The
Management of Health and Safety at Work Regulations 1999. This is regularly reviewed by Trusteos.
Throughout 2023124, we have continued to build upon our updated Risk Regisler and reporting approach, especially with
regard to our new governance approach, building on a ¢omprehensive review undertaken in 2017118, ensuring that
Board considers allocated risk at approprrate frequencies. Five main risk areas are identified including governanc8,
operational. financial. environment or external factors and compliance risk. For each section. several risks are idenlified
and are detormined as either a low. medium, or high risk.. the majority being low risk. Changes in risk level are updated
regularly. and any mitigating actions undartaken to offset thal risk are detailed. alongside general comments and when
risk levels will be reviewed. Current principal risks identified include the age profile of Trustees and dependence / loss of
key staff. especially at Liversage Court, the return of a serious epidemic. lunding the long-term capital programme and
inappropriate investment decisions.
We are registered with the Information Commissioner's Office IICOI and undertook a consid8rable amount of work in
2017118 to ensure cornpliance wilh the General Data Protection Regulation (GDPRI beginning May 2018. Throughout
the current year, we have assessed performance and continue to reffne our approach, including looking at alternative
methods to dispose of confidential inlormation, encrypting email accounts and reviewing policies and prccedures.
Page 5

The Liversage Trust
Truslees, Report
for the Year Ended 31 March 2024
CONCLUSION
Although we have settled into a new post-COVID world, 2023124 has continued to present significant challenges, both to
the Trust and those that use our services. In particular, high inflation and 'cost of living, pressures has created a difticult
environment in which we are operating. Despite this, the Trust continues to meet any challenges thrown at us 'head on,
and has continued to achieve its principal object of providing affordable accommodation for old6r and frail eldedy people
and making grants lor the relief of povety in Derby.
During the past year, the Trustee body has..
ensured that the Trust continues to provide quality seNices that are tailored to the needs of residents and
vulnerable individuals, providing essential support and assistance in an ever-changing environment.
continued to retain our 'Good' rating for our Care Home, while operaling in a challenging sector recovering from the
effects of COVID
maintained our grant awards to support more local peopla in need of crisis support, while maintaining support for
household ilems
maintained our properties in good repair and Continued our ambitious capital programme, including completing the
refvrbishment of an existing site into a new main office and workshop for the Trust, which is a first step in wider
development.
Approved by order of th6 board of trustees on 21 October 2024 and signed on its behalf by-
Mr Malcolm Allsop jchairj - Trustee
Page 6

The Liversage Trust
Statement of Trustees, Responsibililies
for the Year Ended 31 March 2024
The trustees are responsible for preparing the Trustees, Report and the financial ststements in accordance with
applicable law and United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Practice)
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland..
The law applicable to charities in England and Wales, the Chartties Act 2011, Charity (Accounts and Reports)
Regulations 2008 and the provisions of the trust deed requires the trnstees to prepare financial statements for each
financial year which give a true and tair 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 charity for that period. In preparing those financial
statements, the trustees are required lo
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charity SORP.,
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followad, subject to any material departures disclosed and
explained in the linancial statements-
prepare the financial statements on the going concem basis unless it is inappropriat6 to presume that the charity will
continue in business.
Th8 trusteès are responsible for keeping proper accounting records which 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 Charities
Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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 irrègularities.
Page 7

Report of the Independent Auditors to the Trustees of
The Liversage Trust
Opinion
We have audited the financial statements of The ￿Versage Trust (the 'charity'l for the year ended 31 March 2024 which
comprise the Statement of Financial Aclivities, the Balance Sheet, the Cash Flow Statement and notes to the financial
statements, including a summary of significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicab18
in the UK and Republic of Ireland,.
In our opinion the financial statements..
give a true and fair view of the state of the charity s affairs as at 31 March 2024 and of its incoming resources and
application of resources, for the year then ended.,
have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting Practice, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,;
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance wilh Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our
responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial
statements section of our ieport. We are independent of the charity in accordance with the ethical requirements thal are
relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to golng concem
In auditing the linancial statements, we have concluded that the trustees, use of the going concem basis of accounting in
the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem lor a
period of al least twelve months from when the financial statements are authorised for issue.
Our r6sponsibilities and the responsibilities of the trustees with respect to going concern are des¢ribed in the relevant
sections of this report.
Other Inlormatlon
The trustees are responsible for the other information. The other infornation comprises the information included in the
Annual Report, other than the linancial statements and our Report of the Independent Auditors therèon.
Our opinion on the financial stalemenls does not cover th6 Other information and. except to the extent otherwise explicitly
slated in our report, we do not express any fom of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing
so, consider whethér the other information is materially inconsistent with the linancial stalements or our knowledge
obtained in the audit or othe￿ise appears to be materially misstated. If we identify such rnaterial inconsistencies or
apparent material misstatements, we are required lo determine whether this gives rise to a material misstatement in the
financial stalements themselves. If, based on the work we have performed. we conclude that there is a material
misstatement of this other information, w6 ar8 required to report that fact. We have nothing to report in this regard.
Matters on which we aTr ￿qUired to report by exceptlon
We have nothing to report in respect of the following matters where the Charities {Accounts and Reports) Regulations
2008 requires us lo report lo you if, in our opinion..
the information given in the trustees Report is inconsistent in any material réspect with the financial stalements. or
sufficient accounting records have not been kept- or
the financial statements are not in agreement with the accounting records and retums. or
we have not received all the inlormation and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Slatement of Trustees, Responsibilities, the trustees are responsible for the preparation ot
the financial statements which give a true and fair view. and for such intemal ¢ontrol as the trustees detemine is
necessary to enable the preparation of financial statements that are free from malerial misstatement. whether due to
traud or error.
In preparing the financial statements. the trijstees are responsible for assessing the charity's ability to continue as a
going concem, dl￿10$1ng, as applicable, matters related to going concern and using the going concern basis of
accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alteinalive
but to do so.
Page 8

Report of the Independent Audltors to the Trustees of
The Llversage Trust
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act
and relevant regulations made or having effect thereunder.
Our objecttves are to obtain reasonable assurance about whether the financial statements as a whole are free from
malerial misslalemenl, whether due lo fraud or error, and to issue a Report of the Independent Auditors that includes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud
or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detsiled below..
Discussions and correspondence with management, including known or suspected instances of non-compliance
with laws and regulations and fraud
Reviewing nominal ledger transactions with paTticular emphasis on joumal entries posted by management
Being alert throughout our work for anything considered unusual by vrrtue of size or nature
A further description of our responsibilities for the audit of the ff nan¢ial statements is located on the Financial Reporting
Counal's website at www.frc.org.uklaudtlotsresponsibililies. This description foms part of our Report of the Independent
Auditors.
Ust of our report
This report is made solely to the charity's trustees, as a body. in accordance with Part 4 of the Charities (Accounts and
Reports) Regulations 2008. Our audit woth has been undertaken so that we might state to the chariws trustees those
matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent pemitted by
law, we do not accept or assume responsibility lo anyone other than the charity and the chariws trustees as a body, for
our audit work. for this report, or for the opinions we have fomied.
Bourne & Co.
statutory Auditors
47a Queen Street
Derby
Derbyshire
DE1 3DE
Date.- 21 October 2024
Page g

The Liversage Trust
Statement of Financial Activities
for the Year Ended 31 March 2024
2024
Total
funds
2023
Total
funds
Unrestricted
funds
Restricted
funds
Endowment
fund
Notes
INCOME AND ENDOWMENTS
FROM
Donations and legacies
32,553
32,553
1,053
Charitable activlties
Provide accommodation via
almshouses. sheltered housing
and a residential Ca￿ home for
the residents of De￿Y
Provide commercial premises for
rent
2,295.572
2,295,572
2,154,551
173,685
173,685
176,635
Investment income
Other income
437.412
21,129
437,412
354,064
10,692
Total
2,960,351
2.960.351
2.696,995
EXPENDITURE ON
Charltable actlvltles
Provide accommodation via
almshouses, sheftered housing
and a residential care home for
the residents of Derby
Support financial hardship of
residents of Derby via
Household fund and Chairfs
Crisis Fund
Provide commeraal p￿miseS for
rent
2.182,197
2,182,197
2,227,778
31,150
31,150
70,218
7,046
Total
2,220,393
2 220 393
2 305.612
Net gainsl{lossesl on
investments
132,296
136 669
299 6031
NET INCOME
872,254
4,373
876.627
91.780
RECONCILIATION OF FUNDS
Total funds brought forward
24,026,636
245.664
24.272,300
24,180,520
TOTAL FUNDS CARRIED
FORWARD
24,898,890
250,037
25,148.g27
24 272.300
The notes fo￿ part of these financial statements
Page 10

The Liversage Trust
Balance Sheel
31 March 2024
2024
Total
funds
2023
Total
funds
Unrestricted
funds
Restricted
lunds
Endowment
lund
Notes
FIXED ASSETS
Tangible assets
Inveslments
Investrnents
Investmenl property
13
11,782,646
11,782,646
11,435,816
14
15
9.183,272
3.852,901
250,037
9,433,309
3,852,901
10,027,676
2,707,624
24,818,819
250,037
25,068,856
24,171.116
CURRENT ASSETS
Stocks
Debtors.. amounts falling due
within one year
Cash at bank and in hand
16
2,976
17
92,667
431,307
92,667
431,307
91,998
432,007
523.974
523,974
526,981
CREDITORS
Amounts falling due within one
year
18
(443,903)
(443,903)
{425,7971
NET CURRENT ASSETS
80,071
80,071
101 184
TOTAL ASSETS LESS
CURRENT LIABILITIES
24.898,890
250.037
25,148.927
24,272,300
NET ASSETS
24,898,890
250,037
25.148,927
24,272,300
FUNDS
Unreslricted funds
Endowment funds
19
24,898,890
250,037
24,026,636
245 664
TOTAL FUNDS
25 148 927
24 272.300
The financial statements were approved by the Board of Trustees and authorised for issue on 21 October 2024 and were
signed on its behalf by..
Mr Malcolm Allsop {Chairj - Truste8
Ms Sue Glithero (Vice Chair) - Tnjstee
The notes fonn part of these financial statements
Page11

The Liversage Trust
Cash Flow Statement
for the Year Ended 31 March 2024
2024
2023
Notes
Cash flows from operatlng activities
Cash generated from operations
Finance costs paid
496,638
3.4691
382,104
Net cash provided by operating activities
493.169
378,809
Cash flows Irom investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Purchase of investment propety
Sale of tangible fixed assels
Sale of lixed asset investments
Interest received
{523,535}
(267,9011
{1,145.2771
5,432
1,000.000
437412
(301.707)
(448.338)
(2)
354,064
Net cash used in investing activities
493.869)
395.983)
Change in cash and cash equivalenls In
the reportlng perlod
Cash and cash equivalents at the
beginning of the reporting perlod
{7001
(17.1741
432.007
449,181
Cash and cash equlvalenls at the end of
the reporting period
431,307
432 007
The notes fonn part of these financial statements
Page 12

The Liversage Trusl
Notes to the Cash Flow Statement
for the Year Ended 31 March 2024
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
Net income for the reporting period (as per the S&knmenl of Financlal
Aclivlties)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Loss on disposal of fixed assets
Interest received
Finance costs
Decrease/{increasel in stocks
{Increaselldecrease in debtors
Increase in creditors
876,627
91,780
145.422
(136.669)
24,783
(437,412)
3,469
2,976
{669)
18,111
141,663
299,603
(354,0641
3,295
(2,976)
49.524
153279
Net cash provided by operations
496 638
382,104
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.23
Cash flow
At 31.3.24
Net cash
Cash at bank and in hand
432.007
431.307
432 007
431,307
Total
432,007
431,307
The notes fomi part of these financial statements
Page 13

The Liversage Trust
Notes to the Flnanclal Statements
for the Year Ended 31 March 2024
STATUTORY INFORMATION
The presentation currency of the financial statements is the Pound Sterling (£1.
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity. which is a public benefit entity under FFIS 102, have been prepared in
accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities- Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Fleporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {ellective 1 January 2019),, Financial
Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and Republic ot Ireland, and the
Charities Act 2011. The tinancial statements have been prepared under the hislorical cost convention. with the
exception ol investments which are included at market value, as modilied by the revaluation of Certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is
probable that the income will be received and Ihe amount Can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and
has been classilied under headings that aggregate all cost related to the Category. Where costs cannot be
directly attributed to particular headings they have been all￿ated to activities on a basis consistent with the use
of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment
but not a¢¢rued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write otf each asset over its estimated useful life.
Housing prop6rti6s for letting
10°/v on cost. 50/0 on cost, not provided and between 15 to 50
years
not provided and between 15 to 50 years
33Q/o on reducing balance, 20 % on reducing balance and 10/
on cost
250/0 on reducing balance
Non-social housing propertias
Fixtures and fittings
Motor vehicl8s
Propaty components lifespan are as defined in DCLG Decent Homes Guidance Annex A.
The Board of Trustees has not accounted for depreciation on its housing properties and non-social housing
properties on the grounds that their estimated remaining usèful econornic life exceeds 50 years.
Houslng propertles
Housing properties are principally properties available for rent and are stated at costfvaluation less any provision
lor impairment {representing a diminution in the recoverable semce potential of the asset below its carrying value
in the balance sheet) less depreciation. Cost includes the cost of acquiring land and buildings. development
costs, interest charges incurred during development and expenditure incurred in respect of improvements.
Improvements are works to existing properties which result in an increase in the net rental income. including a
reduction in maintenance costs or result in significant extension of the useful economic lil8 of the propety-
Housing properties are included at valuation up to and including the last valuation.
Housing properties constructed since 1991 are included at cost and not depreciated. Component additions since
April 2011 are capitalised and the component is depreciated over its deemed useful life.
Housing properties in the course of construction are included at cost and not depreciated.
Page 14
ontinued...

The Llversage Trust
Notes to Ihe Financial Statements - conlinued
for the Year Ended 31 March 2024
ACCOUNTING POLICIES- continued
Tangible tixed assets
The disposal proceeds from properties owned outright are includ8d in tumover. and th8 surplus or deficit is
accounted lor in the Statement of Financial Activities in the period in which the disposal cccurs as the difference
between the net sale prweeds and the net carrying value.
Works to existing housing properties
Expenditure on existing housing properties is capitalised when it is either capable of generating increased luture
rents, extends their useful economic lives or significantly reduces future maintenance costs. All other
expenditure in respect of general repairs to housing stock is charged to the Slatement of Financial activities as
incurred.
Impaimient
All properties are considered for impairment annually and detailed reviews of assets for impairment are carried
out if there is an indication that impaiment has occurred or if they are not being depreciated.
Impainnents that are a result of a major reduction in the service potential ol a propety are recognised in the
Statement of Financial Aclivities. Impairments that reflect general changes in price are, where the propety is
shown at a valuation. recognised in the statement of total recognised surpluses and deficits until the value of the
asset falls to depreciated histori¢al cost.
Further impairments, or the full impairment if th8 propety has not been revalued, are then recognised in the
Statement of Financial Activities.
Social Housing Grant (SHG) and Other Grants
Grants received as a ¢ontribution towards rèvenue expenditure are matched against that expenditure by being
included in turnover in the Statement of Financial Activities. The related expenditure is included under operating
cosls. Grants are recognised in the same period as the related expenditure provided the conditions for receipl
have been satisfied and theré is reasonable assurance thal the grant will be received.
Grants received as a contribution towards the capital cost of a scheme and its properties are in¢luded at historical
cost, the total grant receivable is deducted Irom the cost of housing properties.
In certain circumstances, such as the sale of housing properties, SHG may be repayablè, and, in that event, is a
subordinated debl and is ac¢ounted for as soon as the liability arises within creditors. amounts falling due within
one year.
Stocks
Stocks ar6 valued at the lower of cosl and net realisable value, after making due allowanc6 for obsolete and slow
moving items.
Taxatlon
The charty is exempt from tax on its charitable activities.
Value added tax
The Trust is not register8d for value added lax. All expenditure where applicable is shown inclusive of value
added tax.
Fund accounting
Unrestricled funds can be used in a￿ordanCe with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted pU￿oses.
Further explanation of the nalure and purpose of each fund is included in the notes to the financial statsments.
Investments
Investments are carried at market value. Upwards revaluations are reported in the Ststement of Financial
Activities and credited to a general reserve or the designated fund in which the investment is held. Diminutions in
value are recognised in the Statement of Financial Activities until the investment revaluation reseTve in respecl of
that asset no longer exists.
Page 15
continued...

The Liversage Trust
Notes to the Financlal SLitsmonts - continued
for the Year Ended 31 March 2024
ACCOUNTING POLICIES- continued
Golng concern
After reviewing the Charity's forecasts and projections, the trustees have a reasonable expectation that the
charity has adequate resources to continue in operational existence for the foreseeable future. The Charity,
therefore continues to adopt the going ¢on¢ern policy in preparing its financial statements.
DONATIONS AND LEGACIES
2024
2023
Donations
32.553
1,053
INVESTMENT INCOME
2024
2023
Bank interest
M&G Securities Funds income
CCLA Inveslment income and Deposit interest
3,392
330,785
103235
1,839
295,564
437,412
354,064
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Activity
Provide accommodation via almshouses.
Almshouse & market property sheltered housing and a residential care
rents
home for the residenls of Derby
Provide accommodation via almshouses,
sheltered housing and a residential care
home for the residents ol Derby
Provide commercial premises for rent
949,238
907,222
Care home residential fees
Commercial rents
1.346,334
173685
1.247.329
176,635
2.469,257
2.331,186
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
Support
costs (see
note 8)
Direct
Costs
Totals
Provide accommodation via
almshouses, sheltered housing and a
residential care home for th8 residents
ol Derby
Support financial hardship of residents
of Derby via Household fund and Chair's
Crisis Fund
Provide commercial premises for rent
1.984,834
87,331
110.032
2,182.197
31.150
31,150
7.046
1,991,880
118,481
110,032
2.220,393
Page 16
continued...

The Llversage Trust
Notes to the Financial Statements - continued
lor the Year Ended 31 March 2024
GRANTS PAYABLE
2024
2023
Provide accommodation via almshouses, sheltered housing and a residential
care home for the residents of Derby
Support financial hardship of residents of Derby via Household fund and
Chair's Crisis Fund
87.331
82,598
31,150
70,218
118,481
152,816
The total grants paid to individuals during the year was as follows:
2024
2023
Winter fuel and water payments
Christmas presents - Almshouse residents
Amenities fund
Household fund
Chair's Crisis Fund
Christmas hampers
31.150
10,070
800
52,738
21,823
70,720
9,978
56.428
13,790
118481
152816
SUPPORT COSTS
Governance
costs
Provide accommodation via almshouses,
sheltered housing and a residential care
home for the residents of Derby
110.032
Included in support costs are Auditors, remuneration which amounted to £5.000 {2023 - £5.000} and other non-
audit seNices which amounted to £10,893 12023- £11.405).
AUDITORS, REMUNERATION
2024
2023
F86s payab16 to the charity's auditors for Ihe audit of the charity's financial
statements
5,000
5,000
10.
TRUSTEES, REMUNERATION AND BENEFITS
There were no tTUSte8s' rémunération or other benetits for the year ended 31 March 2024 nor for the year ended
31 March 2023.
Trustees, expenses
Expenses totalling £914.5012023- £461) were reimbursed to trustees during the year ended 31 March 2024.
11.
STAFF COSTS
2024
2023
Wages and salaries
s￿la1 security costs
Other pension costs
1,128.616
83,285
25,676
963,576
79.181
16.625
1.237,577
1,059,382
The average monthly number of employees during ihe year was as follows:
2024
2023
Senior management
Office staff
Page 17
continued...

The Liversage Trust
Notes to the Financial Statements - continued
lor the Year Ended 31 March 2024
11.
STAFF COSTS - continued
Maintenance staff
Resident support and care home staff
49
42
61
51
The number of employees whose employee benefits (excluding ernployer pension coslsl exceeded £60,000
was..
2024
2023
£60,001-£70.000
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
funds
funds
Endowment
fund
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
1.053
1.053
Charitable actlvltles
Provide accommodation via almshouses,
sheltered housing and a residential care home
for the residents ol Derby
Provide commercial premises for rent
2.154,551
176,635
2,154,551
176.635
Investment income
Other income
354,064
10.692
354.064
10.692
Total
2.696.995
2,696,995
EXPENDITURE ON
Charltable activities
Provide accommodation via almshouses,
sheltered housing and a residential care homg
for the residents of Derby
Support financial hardship of residents of
De￿Y via Household fund and Chair's Crisis
Fund
Provide commercial premises for rènt
2,227,778
2,227,778
70,218
7.616
70,218
7.616
Total
2.305.612
2 305,612
Net gainslllosses) on investments
292,5621
299,603)
NET INCOMEI(EXPENDITURE)
98,821
(7.041)
91,780
RECONCILIATION OF FUNDS
Total fvnds brought forward
23,927.815
252,705
24.180.520
TOTAL FUNDS CARRIED FORWARD
24 026 636
245,664
24,272,300
Page 18
continued...

The Liversage Trust
Notes to the Financlal Slatements - continued
for the Year Ended 31 March 2024
13.
TANGIBLE FIXED ASSETS
Housing
properties
for
letting
Non-social
housing
properties
Fixtures
and
fittings
Motor
vehicles
Totals
COST
At 1 April 2023
Additions
Disposals
10,703,402
434,724
113 078)
1,205,257
8,016
434,937
56,801
13,900
23,9g4
13,9001
12.357,496
523,535
126,9781
At 31 March 2024
11.025,048
1.213,273
491,738
23,994
12,754,053
DEPRECIATION
At 1 April 2023
Charge for year
Eliminated on disposal
577,972
106,167
82,314)
22,852
3.447
307,648
32,136
13,208
3.672
13,381)
921,680
145.422
95 6951
At 31 March 2024
601.825
26.299
339,784
971,407
NET BOOK VALUE
Al 31 March 2024
10,423,223
1,186,974
151.g54
20,495
11,782.646
At 31 March 2023
10,125,430
1,182405
127,289
692
11 435816
14.
FIXED ASSET INVESTMENTS
Cash and
settlements
pending
Listed
investm6nts
Totals
MARKET VALUE
At 1 April 2023
Additions
Disposals
Revaluations
8,102,647
1.925.029
10,027.676
103,234
103,234
{1,000,000) (1.000,000}
302,399
302.399
At 31 March 2024
8 405 046
1,028,263
9.433.309
NET BOOK VALUE
At 31 March 2024
8,405,046
1,028.263
9,433.309
At 31 March 2023
8,102.647
1 925,029
10,027,676
There were no inveslment assets outside the UK.
At 31 March 2024. the investment portfolio included the following investrnents which represented a material
proportion of the portfolio as a whole- M&G Securities Income Funds £3,390,142 {35.940/.I, M&G Securities
Charity Multi Asset Accumulation Funds £4,252.346 {45.081.). CCLA Income units £762.558 {8.08 % } and funds
held on COIF Charities Deposit Account £1,028,263 (10.90Y•).
Cost or valuation at 31 March 2024 is represented by..
Cash and
settlemenls
pending
Listed
investments
Totals
Valuation in 2024
Cost
302,399
8.102.647
302,399
9.130,910
1,028,263
8 405,046
1 028,263
9.433,309
Page 19
continued...

The Liversage Trust
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
15.
INVESTMENT PROPERTY
FAIR VALUE
At 1 April 2023
Addilions
2,707,624
1 145,277
At 31 March 2024
3,852.901
NET BOOK VALUE
At 31 March 2024
3.852,901
At 31 March 2023
2,707,624
Fair value at 31 March 2024 is represented by..
Valuation in 2022
Cost
149,204
3,703,697
3.852,901
The investment properties were last revalued at 31 March 2024 by Messrs. Milner & Co., Chartered SuN6yors on
an investment basis. The 2024 valuation determined no change.
16.
STOCKS
2024
2023
Stocks
17.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Rents, maintenance contributions and care homè feès outstanding
Prepayments and a¢¢rued income
66,652
62,770
29,228
92,667
91,998
18.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Payments on account
Trade creditors
Swial security and other taxes
Other creditors
Accrued expenses
87,288
183.731
19,691
107.167
131.026
75,066
14,862
125,515
7g.328
443,903
425.797
Page 20
continued.

The Liversage Trusl
Noles to the Financlal Statements - conlinued
for the Year Ended 31 March 2024
19.
MOVEMENT IN FUNDS
Net
movement
in funds
Translers
between
funds
At
31.3.24
At 1.4.23
Unrestriclod funds
General reseNes
Extraordinary Repair Fund
Cyclical Maintenance Fund
Propety Development Fund
Asset Replacement Reserve
Charitable Fund
Liversage Court- Fee Shortfall Fund
Liversage Court- Equalisation Fund
Queen Victoria Loan Fund
Liversage Court - Depreciation fund
Donation Reserve
15,125,800
2,659,115
484,714
2,933,589
92,983
436,490
22,377
145,000
1,450,930
675.638
2.352,452
{398,307)
13,312)
{1,096.2671
(46,7271
{656,830)
272,650
21.000
255.180
23,000
16,821,422
2,533.458
502,402
2,092,502
69,256
436,490
22,377
230.000
1,483,472
675,638
31,873
85,000
32,542
31,873
24,026,636
872.254
24,898,890
Endowment funds
General Endowment
245,664
4,373
250,037
TOTAL FUNDS
24,272,300
876 627
25,148,927
Net movement in funds, in¢lu¢Jed in the above are as lollows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unreslricted funds
General reserves
Extraordinary Repair Fund
Cyclical Maintenance Fund
Propety Development Fund
Asset Replacement Reserve
Queen Victoria Loan Fund
Donation Reserve
2.763,810
100,282
26.250
38,136
{442,060)
{529,633)
146.0651
{1,155.9081
{46.727)
30,702
31.044
16,503
21.505
2,352,452
(398,307)
(3,312)
(1.096,267}
146,7271
32.542
31.873
32,542
31,873
2.960,351
(2.220,393)
132,296
872.254
Endowment funds
General Endowment
4,373
4,373
TOTAL FUNDS
2.960 351
2.220,393)
136,669
876.627
Page 21
continued...

The Liversage Trusl
Notes to the Flnancial Slatements - continued
for the Year Ended 31 March 2024
19.
MOVEMENT IN FUNDS- contlnued
Comparatives for movement in funds
Net
movement
in funds
Transfers
be￿een
funds
At
31.3.23
At 1.4.22
Unrestricted funds
General reseNes
Extraordinary Repair Fund
Cyclical Maintenance Fund
Propety Development Fund
Asset Replacement ReseNe
Charitable Fund
Liversage Court- Fee Shortfall Fund
Liversage Court- Equalisation Fund
Queen Victoria Loan Fund
Liversage Court - Depreciation fund
15.034,954
2,632,655
699,835
2,698,802
81,560
436,490
22,977
145,000
1,503.325
672217
856,74g
1368,031)
1236,121)
(73,2171
111,5811
{765,9031
394,491
21,000
308.004
23,004
15,125,800
2.659,115
484,714
2,933,589
92,983
436.490
22.377
145.000
1.450,930
675,638
{6001
(52,395)
16,583)
20,004
23,927,815
98,821
24,026,636
Endowment funds
General Endowment
252,705
{7,041)
245.664
TOTAL FUNDS
24 180520
91,780
24,272,300
Comparative net movement in funds, included in the above are as follows..
In¢oming
Resources
resources
expended
Gains and
losses
Movement
in funds
Unrestricted lunds
General reserves
Extraordinary Repair Fund
Cy¢lical Maintenance Fund
Propety Development Fund
Asset Replacement Reserve
Queen Victoria Loan Fund
Liversage Court - Depreciation lund
2,556,067
87.197
22,825
30,907
(1,634,466)
(310.1231
(243,168)
{89,692)
(11,581)
(64,852}
1145,1051
(15,7781
{14.4321
856.749
1368,031)
1236,121)
(73,2171
(11.5811
152.395)
16.583)
{52.395)
1)
16 5821
2.696.995
(2.305.612)
(292,562)
98.821
Endowment funds
General Endowment
(7.0411
(7.0411
TOTAL FUNDS
2.696.995
91,780
Transfers between funds
Endowment lunds
The income of the Endowment Fund may be used for any purposes that are 'exclusively charitable. and is
therefore classified as unrestricted.
Unrestricted funds
Unrestricted funds are availabl8 for any purpose appropriate to the Trust's chaiitable objects.
Unrestricted designated funds
Designated reserves are part of unrestricted reserves which have been eamarked by the Board for a particular
purpose. Such designations may be reversed by future Board decisions. Expendilure cannot be directly set
againsl designated reseNes but is taken through the income and expenditure account. A transler is then made
from designated reserves as appropriate.
Page 22
continued...

The Liversage Trust
Notes to the Financial SL*ements- continued
for the Year Ended 31 March 2024
19.
MOVEMENT IN FUNDS - continued
Transfers between funds - continued
The Trust designates those reserves set aside for future major repairs on all its housing properties and for
cyclical maintenance fund including Liversage Court Care Home. The amounts set aside are based on a stock
condition survey of the Trust's housing properties and represents the expendilure that cannot be met from the
Registered Provider's future rental income stream. The designated reserve is the amount that the Board
estimates is required for future major repairs.
Property Development fund
This fund was set up to fund the development of residential and commercial properties.
Asset Replacement Reserve fund
This fund was establishe(J to maintain the assets of the Trust and Liv6rsage Court Care Home, such as fixtures
and fittings and motor vehicles.
Charitable fund
This fund was established in the face of increasing demands for charitabl8 relief for beneticiaries.
Llver8age Court Fee shortlall fund
This lund was established to meet the costs of Liversage Court lees for qualifying residents assessed to be in
need, hardship or distress who cannot afford to the pay lull feé16v8ls charged.
Llversage Court Equallsation fund
This fund was set up to help offset any future deficits that may ¢xcur as a result of income shortfalls.
. Queen Vlctorla Loan fund
This fund was established to assist with capital projects of The Liversage Trust.
Liversage Court Depreciatlon fund
This fund was established to fund schemes of an extraordinary nature for Liversage Court..
Donatlons reserve
This fund was set up to hold the legacy donation.
20.
EMPLOYEE BENEFIT OBLIGATIONS
The Trust operatss two defined contribution pension scheme for its employees. Both schemes are open to all
employees with the Trust contributing 3 % of the employees gross earnings to one and 39/0 of qualifying eamings
to another. Funds are held in separately administered funds. Total contributions in the year to both schemes
amounted to £20,953 {2023- £16.625}.
The amount owed at 31 March 2024 was £6,266 (2023 - £3.986).
21.
RELATED PARTY DISCLOSURES
There were no related party transaclions for the year ended 31 March 2024 nor for th8 year ended 31 March
2023.
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