Registered Charity Number 1161794 LENtIERHAND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2021
LENDERHAND REPORT AND ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2021 Contènts Page Trustees, Report Independent Examiner's Report Statement of Financial A¢tivities Balance Sheet Note8 lo the Accounts
LENDERHAND REFERENCE AND ADMINISTRATIVE INFORMATION Tru8tee# Adam Fraeman Jenle Grant Jemma Leff Andrèw Wtrenseld Administrator Karen Berman Principal Addr•$s Freeman House Langston Road Essex IG10 3TQ Reglsttrgd Charlty Number 1161794 Independtynt Examinèr Heathar Mffteelhousa Chartered Accountant BDO LLP 55 Baker Street Marylebone London W1U7EU Bankers Barclays Bank Leicester Leicestershire Unrted Kingdom LE87 288 Page.
LENDERHAND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2021 Thè trustees have pleasum in présenting their report, togather with the accounts for thè year ended 31 March 2021. Structure, 9ovemanc• and managomonl Lenderhand was formed as a Charitable Incorporatèd Organisation under a eonstitulion adopted on 9th March 2015 and was registered as a charity on 22nd May 2015. Thè affairs of the charity ar8 managed by the trustees wrth support from the administrator. L8nd8rhand's Constttution atipulates that there should be a minimum of 418nd Maximum tsf 121 trustees. The Trustees believ¢ that they can operate eff&ctiV8ly with the cu¥rent nurrber and make up of trustees. Trustee5 are only replaced when they no longer want tolara able lo act for the charity al which point the lead Trustee sèèk8 to identify a suitable replacement from hi5 profe$$ional contacts. The Irustees review regularly whether Ihey are suitably qualified and still able to effectively manage the Charty. Trustsès Tha trustee8 who have hetd office during the year were as follows.. Adam Freeman Jennie Grant Jemma Leff Andrew Witzensèld Objectlves and activities The objoetlV9 Of the charity is to provide relief from h8rdship by the provision ol gotsd5 and services to grantees. The charity is tha rècipient of corporate donations and is responsible for identifying appropriate grante88 from applicants. Achlev•monts ahd pertomianeo Review of Activities The charity has continued to meet its objectives of raising funds so that it can dlstribute small grants to individual8 that are suffering hardship. Flnanelal Review Overall.. The charity generated income of £34,024 and incurred expénditure of £34,304. Expenditure Inrjudes grants made in furtherarce of the charity's objeGtives of £28.54512020." £9.866). PolNGy on reseNes The trustees are aware of the r9quirement of the Charity Commissioners to review their pollcy on reserves at regular intervals and il has the current policy to distribute an amount at least equal to all incomin9 resources less the charitable 8th"vrbes. Risk Review The trustees are mindful of their duty to ensure that the charity is not inappTOPri8tely exposed to avoidable risk of any naturg. Each aspect of the charity's work and administration have been reviewed and risks. both potential and actual. identified. Procedures and ssf8guards have been put in place to manage thesè risks. Pag¢".2
LENDERHAND TRUSTEES, REPORT (CONTINUED} G¢lng Concern Atthe time of approving the accounts, the Trust88s have a reasonable expgctation that the eh8r¢ty has adequate r050urces to continue in op&rational existence for thé foreseeabl& futura. The trustees bolieve that whilst there is uncertainty relating lo the potential effect5 of Covid-19, thi8 does not pose a material uneartainty on the charity's ability to continue a5 a going concem. The trustees thereforo btslieve that it is appropriate to prepare the accounts on a going ¢on¢ern basis. In March 2022. the charity had approximately £5,000 of cash availabl8. The trustee5 have prepared a stress test and this confirms that should no further income be received. the ¢harrty is able to meet liabilities as thgy fall due lor at least another 12 nK)nths from the dale of approval of the financial Statements. Public B&nefflt In overseeing the Charity's oporations the Trustees have paid due regard to the Charity Commissions guidance on publi¢ bgnefit. The charitable purpose of th8 charity is t*& rellaf of finan(#al hardship. The benefit offered by the charity is both financi818nd service driven. The charity rèceive5 unsolicrtèd applications from 8 wide Tange of individuals and tsrganisalions and e8¢h one is considered on its own merits. Trust••s' R¢$ponslblllUas Charty law requires the trustees to prapare for each financial year a report 8nd statement of accounts for each fin8n¢ial year that give a true an¢J fair view of the stat8 of affairs of thè charty and of its income and expenditure for that perioLt. In preparing those statement of gcctsunts the trustees are required to". sèléct suitsble accounting policies and applied them eon$i$tentty,' observe the methtsd8 and principles in the Charities SORP., make judgements 8nd estimat85 vthich are considered reasonablè and prudent,. and prepara the statement of accounts on Ihg going concÈm basis unless it is inappropliatè lo presumo that the trust will coth"nu8. The trustetrs are responsiblè for keeping prop8r 8ccounting records which di5clo$e at any time ihe financial position of the trust with reasonable accuracy. It is also the trustees. raspon5ibility to safeguard thè 855ets of the trust and to take reasonable steps to prev8nt and detect fraud and other irregulailtie5. This r8POrt was approved by the Trust8es, on and signed on their beh81f by." Charity code of Gov8mance zq l03lioLL JennÉ• Grant- Trustee Pa8e".3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LENDERHAND I report to the trustees on my examination of the accounts of the charity for the year &nded 31. March 2021, whil are set out on pages 5 to 9. This report is made solely to thé charit1$ trusteès, 8$ a body, in accordance with Regulation 31 of the Charities {Accounls and Reports) Regulations 2008. My WOTk ha5 been undertaken sci that I might state lo the ¢harity's trustees those matters l am required to state lo them in an independent èxaminerf5 report and for no other purpose. To the fvllest extent permitted by law, I do not accept or assume responsibility to anyone other Ih8n the Charitys Iruslees as body, foi my work, for this report, or for the statement I have made. Responslbllltle$ and ba$1$ for report As the charity trustees of the charity you are responsible for the preparation of the a¢¢oun15 in accordance with the iequiremenls of th& Charities Act 2011 1.the 2011 ACTI. I report in réspÈ¢t of my examination of ihe charity's accounts carried out LJndÈr se¢tion 145 of the 2011 Act and in ¢airying out my examination I have followed all the applicable Dire¢b"ons given by the Charity Commission under section 14515llbl of the Act. Indepèndent examin03 ststement I conffirm that l am qualified to undertake the examination because l a mamber of ACA, which is one of the listed bodies. I have cotnpleled my exarnination. I confirm that nts maleiial matters have come lo my attention in ctsnne¢tion with the examination giving me cause to believe.. accounting ra¢ords were not kept in respect of the charity a$ required by section 130 of the Act., or 2. the acccunts do not accord wyth those re¢ords,' or 3. the accounts do not comply with the accounting requirernents concerning the form and content of the accounts set out in the Charitie5 IAccounts and Reportsl Regulation$ 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., or 4. the accounts have not been prepared in accordance with the methods and principlès of the statement of Recommènded Pradice for accounting and raporting by charities. I have no concems and have come across no other matters in conne¢tlon with the examinat'on to which attention should be drawn in this report in order to enab a proper understanding of the accounts to be reached. DoCuS*j.' Ilouse ACA BOO LLP Ldorn D81e.. 29 March 2022 P?ge '.4
LEIqDERHAND STATEMENT OF FINANCIAL ACTIVITIES FOR TME YEAR ENDED 31sIMARCH 2021 202q 2020 Ntste5 Income from: Donations 34,024 28.995 Total 34,024 28,995 Expenditure on: Charitable a¢b'Mb"es 34,304 24,449 Total 34,304 24,449 Ngt IExpèndlturelllneom* and Movement In Funds Roeortrciliation olfunds 12801 4.456 Total funds brought forward Total Fund Balancgs Carrlgd Fory¢ard 5.455 5.455 5.176 Th8 notes on pages 7 to 9 lorrn part of these arxounts. All the charity's activities are classed as continuing. Pa8¢".5
BALANCE SHEET ASAT MARCH 2021 2021 2020 Notes Current Assets Debtors- Donations confirmed Prepayments 3,489 Cash at bank 5,333 8.176 10,862 14,351 Llabilities: Amounts Falllng Due Within Ona Year {3.0011 18,8961 Net Current Assets 5.175 5,455 Net Assets 5.175 5,455 Unrestricted Reserves 5,455 The financial slalements werè approved and authorise(I for issue by the Truste&8 on ifi | 03 I Zo LL T¢J and signed on their behalf by". Jonnie Grant- Truste• The not85 on pages 7 lo 9 form part of these accounts. Page".6
LENDERHAND NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021 Background information Lenderhand is a Charitable Incorporated Organisation under a constitution adopted on 91h March 2015 and was registered as a charity ()n 22 May 2015 under number 11e1794 with the Charities Commission n England and Wales. It is a public benefit entity, it is domi¢iled in England and Wales and ils prin¢ipal office is at Fieeman House, Langston Road, Essex IG10 3TQ. The objecte of the charity is to provide relief from hardship by thè provision of goods and serwces and il ¢onlinues to rneet this objective through the making of grants. The financial statements have been prepared in p(>unds 51erfing and the figures are rounded to th6 nearest £. A¢eounting Policies 8asls of Accountlng The accounts are preparèd under the historical cost ¢(trnvenlion and on the going ¢oncem basis. The accounts (financial statements) have been prepared in a¢¢ordance wth the Slalemenl of Recommended Pra¢tice.' Accounting and Reporting by Charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of ITeland IFRS 1021 leffectsve 1 January 2019 (Charities SORP FRS1021 and issued on 16 July 2014 and the Financial Reporting Standard applicabl6 in the United lQngdom and Republic of Ireland IFRS 1021 (September 20751 and the Charities A¢t2011. The accounts lfinancial statements) have been prepared to givè a Yrue and fairf view and have departed from the Gh81ilies (Accounts and Reports) Regulations 2008 only lo the extènt required lo provide a'lrue and fair view.. This departure has involved lollowng Accounting and Reporting by Charities preparing their accounts in accordancè with the Financial Reporting Standard applicable IN the UK and Republic of Ireland IFRS 1021 issued on 16 JLtly 2014 rather than the Accounting and Reporting by Charities.. Statement of Recomménded Practice effoctiva from 1 April 2005 which h&8 since been withdrawn. Going Concern In the opinion of thè Trustees there aro Th) m3terYal uncertainties related lo events or oondrf(ions that cast significant doubt on the ability of the charity lo continue as a going concern. For this reason the going concein basis eonlinues lo be adopted in the preparation of the charty's finanaal statements. Al the time of approving the accounts, the Trustees have 3 35Qnable expèctalitsn that the charity has 2dÈquate souTCaS to continue in operational existence for the foreseeable future. Thé tru$lees believe that whilst there is uncertainty relating to the potential effects of Covid-19, this does not pose a material uncertainty on the charity's ability lo continue as 3 going COnrn. The trustees therefore belltrve that it is appropriate lo prepare the accounts on a going wncem basis. In January 2022, the charfly had approximately £5,000 of cash available. The trusteès h8ve wepared a St$9 lesl and this confimi3 that shoutd no further incom& be received, the charity is able lo meet liabilit16s as they fall due fr)r al least anolher 12 months from the date of approval of the financial slatemenls. Income Income is re¢ognised when thè ¢harily is entided tr) receipt, when receipt is probable and arnounts can be measured reliably. E¥pendlture Grants payable [apsent those approved for payment, which have beèn notified to the iecipient in the period of the awunts. Other expendituie is recognised on an accruals basis when a liability is incurred. Pa8¢'.7
LENDERHAND NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31ST MARCH 2021 Flnanclal Instrum•nts Financial instruments are classified and accounted for, according to the substsn¢e of the conliactual arrangement, as èither financial assets, financial lia"1èS or equity instruments. An equity instrument is any contract that ¥vidences a residual interest in the assets of Ihe charitable company after deducting all of ts liabilities. Fund accountlng Unrestricted funds arè available for use al the discretion of the Tfuslees in furtherance of Ihe general oblo¢1ive8 of the charity. Judgem•nts in Applying Accountlng Policies and Kgy Sourcos of Estimatlon Uncortalnty In the application of the charity's aocounts'ng poliaes, thtr Trustees are required lo make judgements, eslimales and assurnplions about the carrying amounts of assets and liabllilies that are not readily apparent from tsthef sources. The estimatès and associated assumptions are based on historitr81 experience and other factor5 that are considered lo be relevant. Actual r8sults may differ from these estimates. The eslimales and underfying 8$sumplions are reviewed on an ongoing basis. Revisions lo accounting estimatas are recognised in the period in which the estimate is rewsed if the revision affè¢15 only that period, or in Ihg perlod of the revision and firture periods if the revision affects both current and future periods. There were no judgement or mat8rtal e$limation uncertaintia$ affecting the reported finanrjal perfomance in the current 01 prior year. Charltable Artlvltles 2021 2020 Grants 26,545 7,759 34,304 28.955 Administratbn expenses (note 61 14,583 24.449 All grant5 awarded durSng the year were to indivlduals. Staff Costs There were no employees of the Irusl. No trustees recesved any remuner*ion or expenses reimbursed. Admlnl$tratlon expenses 2021 2020 Irbdependent examiner's fees Corporation tax return preparation fees Bank charges Marketing expenses Administration expen5e5 Insuran 2,145 3,600 388 IZ551 612 254 7,362 834 4,168 834 7,759 14,583 Pa8e.8
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2021 Liablliti•s: Amounts Falling Due Withln One Y9ar 2021 2020 Sundry creditors A¢cruals 601 2AOO 4,696 4,200 8,896 Transaction$ wfjth Tru$tges and Relat•d Per¥on$ During the year the Charity reiVed £3,353 from PDL Finane8 Limited. a cornpany in whlch 2 01 the trustees a dirèctors. As at the balance sheet date the amount du8 from PDL Finance Limited to the Charity was .841{2020.. £3,48918nd is indudgd within dobtors. Pag¢.9