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2021-12-31-accounts

REGISTERED COMPANY NUMBER: 09355535 (England and Wales) REGISTERED CHARITY NUMBER: 1160792

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

LFLC LIMITED

Newman Morris Limited Chartered Accountants Wellington House 273-275 High Street London Colney Hertfordshire AL2 1HA

LFLC LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Notes to the Financial Statements 10 to 15
Detailed Statement of Financial Activities 16 to 17

LFLC LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. 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).

OBJECTIVES AND ACTIVITIES

Our, Vision, Mission and Values

The Learning for Life charity was formed through a unique partnership between West Lea School (based in Edmonton) and the local community. West Lea is a school that provides education to children with special educational needs from the ages of 4-25. The school and the charity has a shared ethos, believing that to truly flourish children and young people must feel valued and as such, we should focus on what each child or young person can achieve and celebrate their successes.

This shared ethos, which is embodied by the charities trustees, has enabled our charity to establish two shops that serve the local communities in which they are located (Enfield and Edmonton). The trustees deliver public benefit through providing children and young people from across the community with learning difficulties access to the working environment and allow them to gain valuable work experience. In addition, the shops provide volunteering opportunities for members of the local community who are seeking to reintegrate into the world of work. The donated goods that we receive are prepared by the children and volunteers and sold at low prices to the local community or via our EBay store. The trustees have paid due regard to the public benefit guidance issued by the charity commission in deciding what activities the charity should support. We continue to build on this successful foundation, striving to provide 'chances' for the young people we serve.

Our Vision:

The Learning for Life Charity is a newly formed and growing charity. We want to help bring about a world, where children and young people with learning difficulties and special educational needs, or who have been affected by illness, disability or poverty, play their full part and have the best possible chances and choices to live full lives. A world where they are valued for what they can do rather than disregarded because of what they cannot.

Our Mission:

We will work towards this Vision by providing our children and young people alongside the people in the communities where they live:

Our Values:

Page 1

LFLC LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

OBJECTIVES AND ACTIVITIES

What we provide

Chances to make friends:

Socialising and having friends - Young people, no matter what their context or situation have a desire to interact, socialise and build friendships, both in and out of the school environment. We aim to foster and promote access to 'peer' and 'friendship' groups for young people, seeking to remove the barriers that can exist. By providing access to social events, we aim to establish a clear route for progression, enhanced well-being and the promotion of self-esteem and feeling valued.

Chances to explore:

Creating activities and experiences - Having interests and being able to participate in activities is fundamental to the development of young people. A harsh reality for young people with learning difficulties or those affected by disability, illness or poverty is that they are restricted to home or school. We aim to provide access to opportunities and experiences that foster independence and enable our young people to participate fully in society.

Chances to learn:

Enabling learning experiences - Everything we do is aimed at providing opportunities to learn. The charity works to ensure that each young person reaches his/her full potential. We believe that learning is for all, does not stop after school and is a lifelong endeavour. Underpinning all the activities, events and learning experiences is our fundamental approach that ensures each young person feels valued and respected. We treat everyone as an individual, involving them in making decisions, respecting their feelings and fostering their overall well-being

.

Chances to make a difference in our communities:

Contributing to our communities - An interrelated benefit to the work we do with young people are the beneficial outcomes that it has on the local community. Our shops not only provide the work experience opportunities to the young people and members of the local community, they also provide an outlet for recycling unwanted goods, most of which are sold at affordable prices, thus providing clothing and furniture to families that are most in need. We are committed to improve the lives of the people that live in the communities in which we work.

Page 2

LFLC LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

OBJECTIVES AND ACTIVITIES Achievements in 2021

The Enterprise Co-operative Trust

In January 2020 the charity (along with its partner school) became a member of the Enterprise Co-operative Trust. The Trust is a partnership made up of like-minded schools and organisations with a collective vision to improve education and life opportunities for all children and young people in the local community. Trustees believe that this provides an opportunity to engage new audiences and partnerships and increases the capacity of the charity to achieve its aims. Two of the charity's trustees have become directors of the Trust.

'Wanna Be Friends'

"Wanna be Friends" is a series of events open to young people aged between 16-25 with SEND, across the London Borough of Enfield. The purpose is to provide a safe 'party' environment in which young people can socialise with their peers, learn about and celebrate friendship and relationships. No parents or carers are allowed to attend and the events are staffed by a number of regular, well trained, volunteers. Feedback from the young people who participate and their families continues to been extremely positive. For many attendees this is their only opportunity they have to socialise with their peers unmediated by family or school.

The Charity Shops (Life on the Green and Life in the Town)

Trading and therefore opportunities to provide work experience in the shops was severely impacted by lockdowns due to the Covid-19 Pandemic. However the charity was able to work placements to 91 young people.

New initiatives for 2021

All Works of Life

Still at the development stage the project will provide additional access to employment and work experience opportunities. All Works of Life' provides commercial services including packing, light assembly, labelling, printing, embroidery, upcycling of furniture and mobility equipment. This provides employment, on-the-job skills training, work experience and social inclusion for those who face barriers to mainstream employment. This will be delivered alongside educational and life skills training that is required to help our service users overcome barriers to mainstream employment and enable them to lead as independent a life as possible outside of the workplace. Beginning with printing and furniture upcycling the project has provided placements for 26 students. In January 2022 the project will move to its permanent site at Building BloQs.

The Baking and Barista Project

The unique character of this project is that we are seeking to bring together the fragmented and fractured communities around Edmonton (Enfield) in a common place that is facilitated by those who are otherwise the most excluded - those disadvantaged by special needs, disability, poverty, long-term unemployment, social and educational exclusion. To prevent social isolation and increase employability and future job prospects, this project runs twice a week at St Aldhelm's Church in Edmonton, with a trained professional using resources and workbooks which contain a skills pathway. This is an expansion on our previous in-house project.

The objectives are:

" Develop skills in sectors highlighted by our beneficiaries as areas of work that they would like to gain employment in. " To learn barista and baking skills, food hygiene, money management and customer service and produce good quality coffee/baked goods for local members of the community in particular community groups accessing St Aldhelms church and those local to the area.

Post-Employment Service

The objective is to provide a service for young adults who require in-work support. This service provides support to young people with SEN during their work placement, by helping them learn to perform the job accurately, efficiently and safely. The primary focus of our post-employment service is to provide work related support to individuals taking part in the Supported Internship Programme. The Supported Internship Programme is a Government sponsored project that aims to help more people with a disability or learning difficulty move from education and training into employment. Our post-employment worker will broker an effective working relationship between the individual and employer for them to secure paid employment at the end of the placement.

Page 3

LFLC LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

FINANCIAL REVIEW

Financial position

The Statement of Financial Activities for the year is set out on page 7 of the accounts.The trustees have established a policy to build up unrestricted reserves to a level to support the charity's core expenditure for a minimum of eight months. Unrestricted reserves amount to £58,155 (2020: £17,086). The result for the year is a surplus of £21,454 on unrestricted funds (2020: £43,290 Deficit). The trustees expected a surplus, compared to last years deficit as the shops were open all year round, whereas they were closed last year due to covid.

Also, in the year a restricted grant of £9,862 was received from the National Lottery for the Barista & Baking Project and a restricted grant of £5,000 was received from VINCI UK for the All Works for Life project. The restricted reserves at the year end was £12,386 (2020: £Nil).

Post balance sheet events

Following the year end the company identified a loss of takings by theft, amounting to £12,289.72 which has occurred over a 10 month period between 2021 and 2022. This may be covered by the company's insurers and has been fully provided in this period. This is explained in more detail in note 14.

The theft has been reported by the Trustees to the Charity Commission using the Reporting a Serious Incident process, which they have acknowledged and responded that they are satisfied that the Trustees are dealing with the matter appropriately and responsibly.

Investment policy and objectives

Under the Memorandum and Articles of Association the charity has the power to invest in any way the trustees wish. The trustees, having regard to liquidity requirements, have, to date, operated a policy of keeping available funds in interest bearing deposit accounts.

Reserves policy

The Board of Trustees considers the key measure of sustainability for LFLC to have current and future liquidity, rather than the surplus accounting position. Therefore, Trustees have set an appropriate reserves policy relating to liquidity based on the readily realisable cash required to settle liabilities and sustain LFLC operations for a period. Trustees have decided that after an allowance for future income expectations, LFLC should always aim to maintain cash and readily realisable assets sufficient to fund between not less than 8 and not more than 24 months of cash outflow.

Going concern

The Trustees have reviewed our financial position, taking into account the levels cash reserves, and the systems of financial control and risk management. As a result of this review, the Trustees believe that we are well placed to manage operational and financial risks successfully. Accordingly, the Trustees have a reasonable expectation that the Charity have adequate resources to continue in operational existence for the foreseeable future. Therefore, they continue to support the going concern basis of accounting in preparing the annual accounts.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's articles of Association are known as members of the charity. The board meets (at least) four times a year and considers such matters as the appointment of trustees, the approval of Annual Reports and Accounts and the appointment of the independent examiner. The quorum necessary for the transaction of business of the trustees is a minimum of two or the number nearest to one third of the total number of members entitled to vote, whichever is larger at the AGM and two at other times. We currently have 4 Trustees and all members give their time voluntarily and receive no benefits from the charity.

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LFLC LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

09355535 (England and Wales)

Registered Charity number

1160792

Registered office

Wellington House 273-275 High Street London Colney St Albans Hertfordshire AL2 1HA

Trustees

Mrs S Tripp Headteacher Rev N Asbridge Vicar J D Carrick Teacher Ms K L Allen Personal Development Consultant (resigned 18/5/2022) M W Cato Head of Secondary Behaviour Support

Company Secretary

Independent Examiner

Newman Morris Limited Chartered Accountants Wellington House 273-275 High Street London Colney Hertfordshire AL2 1HA

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

Approved by order of the board of trustees on 31 October 2022 and signed on its behalf by:

Mrs S Tripp - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LFLC LIMITED

Independent examiner's report to the trustees of Lflc Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

David Harris ACCA Newman Morris Limited Chartered Accountants Wellington House 273-275 High Street London Colney Hertfordshire AL2 1HA

31 October 2022

Page 6

LFLC LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
2021 2020
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 - - - 145
Charitable activities
-
Charity Grant 14,862 14,862 35,566
Other trading activities 3 74,319 - 74,319 43,445
Other income 4 91,851 - 91,851 16,329
Total 166,170 14,862 181,032 95,485
EXPENDITURE ON
Raising funds 12,501 2,476 14,977 334
Charitable activities
-
Shop expense 5,560 5,560 121,228
-
Charity Grant 123,908 123,908 9,985
Other 2,747 - 2,747 -
Total 144,716 2,476 147,192 131,547
NET INCOME/(EXPENDITURE) 21,454 12,386 33,840 (36,062)
RECONCILIATION OF FUNDS
-
Total funds brought forward 24,314 24,314 60,376
TOTAL FUNDS CARRIED FORWARD 45,768 12,386 58,154 24,314
----- End of picture text -----

The notes form part of these financial statements

Page 7

LFLC LIMITED

BALANCE SHEET 31 DECEMBER 2021

----- Start of picture text -----
2021 2020
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 8 2,914 - 2,914 6,576
CURRENT ASSETS
Debtors 9 24,556 - 24,556 3,094
Cash at bank and in hand 34,720 12,386 47,106 21,982
59,276 12,386 71,662 25,076
CREDITORS
Amounts falling due within one year 10 (16,422) - (16,422) (7,338)
NET CURRENT ASSETS 42,854 12,386 55,240 17,738
TOTAL ASSETS LESS CURRENT
LIABILITIES 45,768 12,386 58,154 24,314
NET ASSETS 45,768 12,386 58,154 24,314
FUNDS 12
Unrestricted funds 45,768 24,314
Restricted funds 12,386 -
TOTAL FUNDS 58,154 24,314
----- End of picture text -----

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

Page 8

LFLC LIMITED

BALANCE SHEET - continued 31 DECEMBER 2021

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 31 October 2022 and were signed on its behalf by:

S Tripp - Trustee

The notes form part of these financial statements

Page 9

LFLC LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

INCOME

Income is recognised in the period in which entitlement is established, and economic benefit is probable where the value can be measured reliably. Donations of cash, are recognised as income once LFLC has the right to receive the donation, it is probable that the income will be received, and the amount of the donation can be measured. Trading income is recognised on point of sale for both donated and purchased goods.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

DONATED GOODS

Donated goods are of low value and recognised when income is received, unsold donated items are not included in closing stock since their cost is nil and their value is uncertain until sold.

Page 10

LFLC LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
2. DONATIONS AND LEGACIES
2021 2020
£ £
Gifts - 145
3. OTHER TRADING ACTIVITIES
2021 2020
£ £
-
Fundraising events 1,157
Shop income 74,319 42,288
74,319 43,445
4. OTHER INCOME
2021 2020
£ £
-
Legal fees - Joe Morris Legacy 2,789
Shared services 39,054 13,540
JRS Grant 27,937 -
-
Support grants 24,860
91,851 16,329
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2021 2020
£ £
Depreciation - owned assets 3,662 2,193
Other operating leases 13,878 17,397
----- End of picture text -----

6. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Page 11

LFLC LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

7. STAFF COSTS

The average monthly number of employees during the year was as follows:

2021
Full time staff
1
Part time staff
5
6
No employees received emoluments in excess of £60,000.
8.
TANGIBLE FIXED ASSETS
Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 January 2021 and 31 December 2021
9,168
80
DEPRECIATION
At 1 January 2021
2,617
55
Charge for year
3,656
6
At 31 December 2021
6,273
61
NET BOOK VALUE
At 31 December 2021
2,895
19
At 31 December 2020
6,551
25
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021
£
Trade debtors
17,419
Other debtors
553
Prepayments
6,584
24,556		 2020
1
5
6
Totals
£
9,248
2,672
3,662
6,334
2,914
6,576
2020
£
-
-
3,094
3,094

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LFLC LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
VAT
Provisions
Accrued expenses		 2021
£
6,095
-
1,357
8,970
-
16,422		 2020
£
5,865
(373)
846
-
1,000
7,338

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
12.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted fund
TOTAL FUNDS		 At 1/1/21
£
24,314
-
24,314
Incoming
resources
£
166,170
14,862
181,032		 2021
2020
£
£
13,878
9,090
Net
movement
At
in funds
31/12/21
£
£
21,454
45,768
12,386
12,386
33,840
58,154
Resources
Movement
expended
in funds
£
£
(144,716)
21,454
(2,476)
12,386
(147,192)
33,840

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LFLC LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1/1/20
£
Unrestricted funds
General fund
60,376
TOTAL FUNDS
60,376
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
85,500
Restricted funds
Restricted fund
9,985
TOTAL FUNDS
95,485
A current year 12 months and prior year 12 months combined position is as follows:
At 1/1/20
£
Unrestricted funds
General fund
60,376
Restricted funds
Restricted fund
-
TOTAL FUNDS
60,376		 Net
movement
At
in funds
31/12/20
£
£
(36,062)
24,314
(36,062)
24,314
Resources
Movement
expended
in funds
£
£
(121,562)
(36,062)
(9,985)
-
(131,547)
(36,062)

Net
movement
At
in funds
31/12/21
£
£
(14,608)
45,768
12,386
12,386
(2,222)
58,154

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LFLC LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

12. 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 fund
TOTAL FUNDS		 Incoming
resources
£
251,670
24,847
276,517		 Resources
Movement
expended
in funds
£
£
(266,278)
(14,608)
(12,461)
12,386
(278,739)
(2,222)

13. RELATED PARTY DISCLOSURES

During the year LFLC Limited received £39,054 from West Lea School for charges under a formal shared services agreement. LFLC Limited and West Lea School are related by virtue that Susan Tripp (Treasurer), James Carrick (Deputy Headmaster) and Nigel Ashbridge (Governor) at West Lea School.

14. POST BALANCE SHEET EVENTS

The company operates two charity shops selling donated and upcycled goods, with the takings being in both cash and payment card. Following the year end it was discovered that there had been a gradual theft of takings, which had occurred over a period of several months.

Upon review it has been calculated that the overall loss amounted to £12,289.72, which has been provided for in these accounts.

The company has more than sufficient unrestricted reserves following this write off, and although significant does not affect the company's ability to operate as a going concern.

The theft had arisen as there had been an unauthorised change in procedures, which upon discovery resulted in the processes being re implemented and improved with increased reporting to the trustees and monitoring by them.

The trustees are in contact with their insurers, however there is no indication at this time if any insurance claim will be successful and it has therefore been decided to provide for the loss in full.

The theft has also been reported to the Charity Commission using the Reporting a Serious Incident process, which they have acknowledged and responded that they are satisfied that the Trustees are dealing with the matter appropriately and responsibly.

Page 15

LFLC LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
2021 2020
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Gifts - 145
Other trading activities
-
Fundraising events 1,157
Shop income 74,319 42,288
74,319 43,445
Charitable activities
Grants 14,862 35,566
Other income
-
Legal fees - Joe Morris Legacy 2,789
Shared services 39,054 13,540
JRS Grant 27,937 -
-
Support grants 24,860
91,851 16,329
Total incoming resources 181,032 95,485
EXPENDITURE
Raising donations and legacies
Fund raising expenses 2,487 334
Packaging 200 -
2,687 334
Charitable activities
Purchases 5,560 3,466
Grants to institutions - 630
5,560 4,096
Other
Service costs 2,740 -
Donations 54 -
-
2,794
Support costs
Management
Wages 88,052 79,056
Carried forward 88,052 79,056
----- End of picture text -----

This page does not form part of the statutory financial statements

Page 16

LFLC LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

----- Start of picture text -----
2021 2020
£ £
Management
Brought forward 88,052 79,056
Social security 1,163 86
Pensions 491 41
Rent 13,878 17,397
Rates and water 1,774 1,400
Insurance 1,777 1,596
Light and heat 1,620 1,289
Telephone 1,455 1,811
Postage and stationery 382 253
Advertising - 16
Premises expenses 1,320 2,387
Staff refreshments 3 29
Cleaning 15 186
Staff training 600 -
112,530 105,547
Finance
Bank charges 2,504 1,416
Other
Subscriptions 175 -
Fixtures and fittings 3,656 2,184
Computer equipment 6 8
3,837 2,192
Governance costs
Accountancy fee 2,990 2,940
Legal fees 2,000 10,057
Bad debts 12,290 4,965
17,280 17,962
Total resources expended 147,192 131,547
Net income/(expenditure) 33,840 (36,062)
----- End of picture text -----

This page does not form part of the statutory financial statements

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