REGISTERED CHARITY NUMBER: 1157505
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 March 2023
for
LoveBrum
CJM Associates St Thomas House
83 Wolverhampton Road Cannock Staffordshire WS11 1AR
LoveBrum
Contents of the Financial Statements for the Year Ended 31 March 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Independent Examiner's Report | 2 | ||
| Statement of Financial Activities | 3 | ||
| Balance Sheet | 4 | ||
| Notes to the Financial Statements | 5 | to | 10 |
| Detailed Statement of Financial Activities | 11 | to | 12 |
LoveBrum
Report of the Trustees for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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 (FRS 102) (effective 1 January 2019).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
1157505
Principal address
Trustees
Independent Examiner
CJM Associates St Thomas House 83 Wolverhampton Road Cannock Staffordshire WS11 1AR
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.......................................................................... Trustee
Page 1
Independent Examiner's Report to the Trustees of LoveBrum
Independent examiner's report to the trustees of LoveBrum
I report to the charity trustees on my examination of the accounts of LoveBrum (the Trust) for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
A
CJM Associates St Thomas House 83 Wolverhampton Road Cannock Staffordshire WS11 1AR
Date: .............................................
Page 2
LoveBrum
Statement of Financial Activities for the Year Ended 31 March 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 15,040 Other trading activities 2 31,927 Total 46,967 EXPENDITURE ON Raising funds 3 72,686 NET INCOME/(EXPENDITURE) (25,719) RECONCILIATION OF FUNDS Total funds brought forward (48,902) TOTAL FUNDS CARRIED FORWARD (74,621) |
Restricted fund £ 39,404 3,507 42,911 52,352 (9,441) 123,686 114,245 |
31.3.23 Total funds £ 54,444 35,434 89,878 125,038 (35,160) 74,784 39,624 |
31.3.22 Total funds £ 72,265 18,120 90,385 128,626 (38,241) 113,025 74,784 |
|---|---|---|---|
The notes form part of these financial statements
Page 3
LoveBrum
Balance Sheet 31 March 2023
| Unrestricted funds Notes £ CURRENT ASSETS Debtors 7 32,761 Cash at bank and in hand (63,426) (30,665) CREDITORS Amounts falling due within one year 8 (43,956) NET CURRENT ASSETS/(LIABILITIES) (74,621) TOTAL ASSETS LESS CURRENT LIABILITIES (74,621) NET ASSETS (74,621) FUNDS 9 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ - 114,245 114,245 - 114,245 114,245 114,245 |
31.3.23 Total funds £ 32,761 50,819 83,580 (43,956) 39,624 39,624 39,624 (74,621) 114,245 39,624 |
31.3.22 Total funds £ 14,274 90,457 104,731 (29,947) 74,784 74,784 74,784 (48,902) 123,686 74,784 |
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
Page 4
LoveBrum
Notes to the Financial Statements for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 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 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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 the 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 classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance 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 purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
continued...
Page 5
LoveBrum
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
2. OTHER TRADING ACTIVITIES
| 31.3.23 | 31.3.22 | |
|---|---|---|
| £ | £ | |
| Events Income | 2,943 | 6,870 |
| Other Revenue | 32,491 | 11,250 |
| 35,434 | 18,120 | |
| RAISING FUNDS | ||
| Raising donations and legacies | ||
| Event Costs | 31.3.23 £ 10,158 |
31.3.22 £ 578 |
| Support costs | 66,579 | 94,528 |
| 76,737 | 95,106 |
3. RAISING FUNDS
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 50,893 Other trading activities 18,120 Total 69,013 EXPENDITURE ON Raising funds 90,244 NET INCOME/(EXPENDITURE) (21,231) Transfers between funds (19,826) Net movement in funds (41,057) RECONCILIATION OF FUNDS Total funds brought forward (7,845) |
Restricted fund £ 21,372 - 21,372 38,382 (17,010) 19,826 2,816 120,870 |
Total funds £ 72,265 18,120 90,385 128,626 (38,241) - (38,241) 113,025 |
|---|---|---|
continued...
Page 6
LoveBrum
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | fund | funds | ||
| £ | £ | £ | ||
| TOTAL FUNDS CARRIED FORWARD | (48,902) | 123,686 | 74,784 | |
| 6. | TANGIBLE FIXED ASSETS | |||
| COST | Fixtures and fittings £ |
Computer equipment £ |
Totals £ |
|
| At 1 April 2022 and 31 March 2023 | 1,954 | 1,689 | 3,643 | |
| DEPRECIATION | ||||
| At 1 April 2022 and 31 March 2023 | 1,954 | 1,689 | 3,643 | |
| NET BOOK VALUE | ||||
| At 31 March 2023 | - | - | - | |
| At 31 March 2022 | - | - | - | |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| Trade debtors | 31.3.23 £ (350) |
31.3.22 £ 19 |
||
| Other debtors | 32,500 | 13,900 | ||
| Prepayments | 611 | 355 | ||
| 32,761 | 14,274 | |||
continued...
Page 7
LoveBrum
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Taxation and social security Other creditors MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds RESTRICTED TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds RESTRICTED TOTAL FUNDS |
At 1.4.22 £ (48,902) 123,686 74,784 Incoming resources £ 46,967 42,911 89,878 |
31.3.23 31.3.22 £ £ 1,371 3,589 1,613 733 40,972 25,625 43,956 29,947 Net movement At in funds 31.3.23 £ £ (25,719) (74,621) (9,441) 114,245 (35,160) 39,624 Resources Movement expended in funds £ £ (72,686) (25,719) (52,352) (9,441) (125,038) (35,160) |
|---|---|---|
9. MOVEMENT IN FUNDS
continued...
Page 8
LoveBrum
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
9. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund ONE BRUM Restricted funds RESTRICTED TOTAL FUNDS |
At 1.4.21 £ (27,671) 19,826 (7,845) 120,870 113,025 |
Net movement in funds £ (21,231) - (21,231) (17,010) (38,241) |
Transfers between funds £ - (19,826) (19,826) 19,826 - |
At 31.3.22 £ (48,902) - (48,902) 123,686 74,784 |
|---|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds RESTRICTED TOTAL FUNDS |
Incoming resources £ 69,013 21,372 90,385 |
Resources Movement expended in funds £ £ (90,244) (21,231) (38,382) (17,010) (128,626) (38,241) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds | At 1.4.21 £ |
Net movement in funds £ |
Transfers between At funds 31.3.23 £ £ |
|---|---|---|---|
| General fund | (27,671) | (46,950) | - (74,621) |
| ONE BRUM | 19,826 | - | (19,826) - |
| Restricted funds | (7,845) | (46,950) | (19,826) (74,621) |
| RESTRICTED | 120,870 | (26,451) | 19,826 114,245 |
| TOTAL FUNDS | 113,025 | (73,401) | - 39,624 |
continued...
Page 9
LoveBrum
Notes to the Financial Statements - continued for the Year Ended 31 March 2023
9. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds RESTRICTED TOTAL FUNDS |
Incoming resources £ 115,980 64,283 180,263 |
Resources Movement expended in funds £ £ (162,930) (46,950) (90,734) (26,451) (253,664) (73,401) |
|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2023.
Page 10
LoveBrum
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | (3) | - |
| Donations | 13,875 | 29,929 |
| Memberships | 40,572 | 17,836 |
| Donated services and facilities | - | 24,500 |
| Other trading activities | 54,444 | 72,265 |
| Events Income | 2,943 | 6,870 |
| Other Revenue | 32,491 | 11,250 |
| 35,434 | 18,120 | |
| Total incoming resources | 89,878 | 90,385 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Event Costs | 10,158 | 578 |
| Other trading activities | ||
| Purchases | 12,801 | 1,520 |
| Charitable Donations | 35,500 | 32,000 |
| Support costs | 48,301 | 33,520 |
| Management | ||
| Wages | 41,164 | 70,524 |
| Social security | - | 81 |
| Pensions | 855 | 1,037 |
| Travel Costs | 7,305 | 2,949 |
| IT Costs | 3,974 | - |
| Advertising | 889 | 8,590 |
| Subscriptions | 4,656 | 3,763 |
| Depreciation of tangible and heritage assets | - | 185 |
| 58,843 | 87,129 | |
| Finance | ||
| Bank charges | 132 | 104 |
| Carried forward | 132 | 104 |
This page does not form part of the statutory financial statements
Page 11
LoveBrum
Detailed Statement of Financial Activities for the Year Ended 31 March 2023
| Detailed Statement of Financial Activities for the Year Ended 31 March 2023 |
||
|---|---|---|
| 31.3.23 | 31.3.22 | |
| £ | £ | |
| Finance | ||
| Brought forward | 132 | 104 |
| Stripe Fees | - | 119 |
| Other | 132 | 223 |
| Postage and stationery | 740 | 380 |
| Governance costs | ||
| Independent Examination Fees | - | 500 |
| Auditors' remuneration for non audit work | 1,300 | 1,300 |
| Bookkeeping | 3,450 | 3,300 |
| Insurance | 1,439 | 1,364 |
| Payroll | 300 | 290 |
| Telephone | 46 | 42 |
| Legal Expenses | 329 | - |
| 6,864 | 6,796 | |
| Total resources expended | 125,038 | 128,626 |
| Net expenditure | (35,160) | (38,241) |
This page does not form part of the statutory financial statements
Page 12