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2020-09-30-accounts

... giving hope and a future

CHANGING LIVES CHARITY

Trustees' Annual Report & Financial Statements for the period ended 30 September 2020

A Company Limited by Guarantee and a Registered Charity

Company Registration No 9517906

Charity Registration No 1161892

CHANGING LIVES CHARITY

Trustees' Annual Report & Financial Statements

for the period ended 30 September 2020

CONTENTS Page
Officers and Professional Advisers 3
Annual Report of the Directors and Trustees 4 - 9
Independent Examiner's Report 10
Statement of Financial Activities and Income & Expenditure Account 11
Balance Sheet 12 - 13
Notes to the Financial Statements 14 - 17

CHANGING LIVES CHARITY

Report of the Trustees For the period ended 30 September 2020

OFFICERS AND PROFESSIONAL ADVISERS

Company Number 9517906
Charity Number 1161892
Registered Office Unit 2a, Kimberley Road
Clevedon, North Somerset BS21 6QJ
Directors and Trustees Ian Burnham FCA
Chris Hibbs
Sarah Luckwell (until 17 July 2020)
Terry Mears (Charity Secretary)
Jeff Peacock
David Tomlinson (Chair)
Ray Wilson CBE
Bankers for Changing Lives Charity CAF Bank Limited, 25 Kings Hill Avenue, Kings Hill.
West Malling, Kent ME19 4JQ
Bankers for Subsidiary Companies Lloyds Bank plc (Changing Lives in Clevedon
Limited) and Santander UK plc (Business4Mission
Limited)
Independent Examiner Haines Watts Chartered Accountants
Bath house
6-8 Bath Street
Bristol
BS1 6HL
Other Professional Advisors
Business Strategy & Communications Jade Wicks, Doeth Marketing Ltd, Linden Road,
Clevedon
BS21 7SL
IT & Web Solutions Worthers Ltd, Long Barn, Folly Farm, Tickenham, Bristol
BS21 6RY

Page 3

CHANGING LIVES CHARITY

Report of the Trustees for the period ended 30 September 2020

The Trustees are pleased to present their Report together with the Financial Statements of the Charity for the period ended 30 September 2020. It should be noted that the 2019-20 accounting period was extended by 6 months on 20 June 2020, the revised end date being 30 September 2020. This created a reporting period of 18 months duration starting in April 2019.

The Financial Statements comply with the requirements of the Charities Act 2011, the Companies Act 2006, the Articles and Memorandum of Association of the Company and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Charitable Object

The Object of the Charity is for the public benefit, “the relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other social or economic disadvantage”. Included in the Articles of Association are the powers to make grants, donations, or loans to organisations which further the aims of Changing Lives Charity.

Vision

The vision is to serve the needs of a wide range of marginalised men, women, and young people from a variety of backgrounds who face barriers to employment and a fulfilling, independent life. We shall do this by:

Mission

During the period, the Charity has become better informed about the root cause for most of those exhibiting chaotic and damaging behaviours associated with substance abuse, serial offending, violence, and homelessness. It is now becoming accepted in the UK that chronic, toxic trauma in early years, e.g., abuse (of all types), neglect and loss of a significant person / carer, is the prime causal factor. These experiences result in lasting physiological and psychological damage leading to permanent health, relational, and social disadvantage. The Charity has reaffirmed its aim to enable those affected to live independent and fulfilling lives.

Volunteer Plus is a workplace programme of volunteering, education and training combined with supportive therapeutic input and the offer of a mentor to accompany the client throughout the programme and beyond. This employability programme is composed of elements that have also been shown to facilitate permanent change, personal development, and improved health outcomes. The aim of the programme is to equip the person for independent living, employment, and a fulfilling life.

The purpose of a residential component, currently envisaged in Andrew House, Clevedon is to provide safe, supported housing for eligible participants of Volunteer Plus. It also provides a greater level of support available only within a close community such as the House can provide. This provision is relevant for those who wish to join the programme who currently live remotely from Clevedon, have no satisfactory accommodation or need to escape the damaging social networks to which they currently belong to enable recovery to take firm root.

Page 4

Achievements in the period

During the period the Trustees have made and implemented a number of progressive decisions in furtherance of the Charity’s Object. The chief aim has been to plan and begin to deliver the Vision set out above. To do this, the Trustees have worked to identify and make progress in developing appropriate therapeutic support for their clients, and to improve the viability of the trading arm (Changing Lives in Clevedon Limited). The following commentary sets out progress so far:

1. Mission

1.1 Launched in the Summer of 2019 the Volunteer Plus (V+) scheme saw the introduction of this workplace, education, training, and employment (volunteering) programme, based in the Charity’s trading arm. A key advantage of V+ is that the number of clients is not restricted to the capacity of Andrew House, the current source of accommodation.

Much thought and research into the needs of people in recovery has been undertaken, in parallel with the development of the V+ scheme, and by November 2019 the Trustees had decided that a much more integrated approach to effectively support those in recovery had to be adopted.

The further work undertaken in early 2020 to define with greater clarity the identity of those most likely to be the Charity’s beneficiaries concluded that ‘childhood trauma’ is the dominant factor resulting in the chaotic, socially disruptive and self-harming behaviours in those we seek to help. ‘Trauma survivor’ became the defining client group for Changing Lives.

It became apparent that the V+ programme would become the encompassing service the Trustees wished to develop. In June 2020, a Director of Programmes was appointed to be responsible for the continuing development and implementation of this ministry.

1.2 Andrew House forms an important part of the developing ministry programme, and will integrate with V+, offering the benefits of a therapeutic community for those who require this level of support.

Following discussion with Alabaré Christian Care & Support in the autumn of 2019, it was concluded that the service Changing Lives Charity wished to be provided did not fit with Alabaré’s core model of supported housing, and by mutual agreement it was decided to bring an end to this partnership.

The advent of the Covid-19 pandemic interrupted progress towards the transfer of the staff and residents to the Charity planned for 01 April 2020. Alabaré offered to continue to operate in the House. This was the situation at the 30 September 2020, and by then plans were made for Alabaré to transfer to a new location and provide vacant possession of the House to the Charity at the end of March 2021, which was successfully accomplished.

On behalf of Changing Lives and the community of Clevedon, the Trustees wish to express their deep and lasting gratitude for the massive contribution that the staff, volunteers and trustees of Alabaré Christian Care & Support have made to the town of Clevedon and to the lives of many people who have enjoyed the safety and care received in Andrew House over the last 20 years.

1.3 The fresh vision and inspiration arising from work by Trustees, aided by professional support, resulted in adopting the concept of a Christ-centred ‘Community Hub’ defined as follows:

“an inspirational destination space with retail space, community café, work-shop / learning space and a productive walled garden. Changing Lives Charity is a unique project leading the way in transformative healing programmes.”

The Warehouse in Kimberley Road, Clevedon is currently under consideration as the means of accommodating the Community Hub.

Page 5

2. Trading activity of the Charity (Changing Lives in Clevedon Limited)

Extensive measures to improve the performance of the trading company that had taken place in the previous year continued, and significant improvements to its profitability have been achieved despite the challenges of the C-19 pandemic.

Restructuring of the management of the Company remained under active consideration. During the year the opportunity presented itself to implement changes to the scope of the trading activity and the corporate structure of the Charity, so that in September 2020 the assets and liabilities of the wholly owned trading entity were hived-up into the Charity along with the transfer of supply and customer relationships and employment contracts.

In anticipation of this event, and to simplify fiscal and business matters, the Charity’s reporting period was extended to 30 September.

3. Fiscal diligence

All expenditure during the period 2019-2020 was for the public benefit in accordance with the Object of the charity.

4. Resources

The Churches and the wider community in Clevedon and the surrounding area continues to be a significant contributor to the Charity, in terms of both financial and practical support. The Charity has met all its financial responsibilities and remains financially viable. Opportunities for attracting financial support through the use of Webbased tools and social media have been exploited, and Total Giving provides an easy means of donating to the charity. In August 2019 the first payment was received of a three-year grant from a large charitable foundation towards the Charity’s core costs.

5. Structure, Governance & Administration

The Charity is governed by its Memorandum and Articles of Association, signed by all formation Trustees on 16 March 2015. The Charity is also a Company limited by guarantee without shares. It was incorporated on 30 March 2015.

The Trustees are determined to ensure good practice is followed and are aware of their obligation to abide by charity and other relevant law.

Early in the year the Data Protection Act 2018 Policy was approved, and the designated officers identified. Also, the designated officers for the Safeguarding Policy were identified. The developments of the ministry of the Charity resulted in the need to review and revise the Safeguarding Policy. This work has carried over into the 2020-21 reporting period.

6. Public Benefit

The Trustees confirm that they have fulfilled their duty to have due regard to compliance with the guidance on public benefit rules.

7. Training for Trustees

Local training has been undertaken by reference to the obligations of trustees and the need for planned retirement of trustees. Further opportunities through the availability of appropriate study days and conferences are monitored and used. Vigilance over potential benefit and value for money is maintained.

Page 6

8. Volunteers

Volunteers are essential to the wellbeing and sustainability of the Charity. The Trustee's desire is to engage with the widest variety of people of goodwill in our community and to help them serve each other by this means whilst meeting their own needs for fulfilment, companionship, and a sense of ‘giving-back’.

The Charity has a significant number of volunteers although the C-19 pandemic has made it more difficult to sustain the established relationships. Work continues to rebuild and form new partnerships with the many, well-meaning people in our community.

The details of the Charity’s volunteers are recorded in the Volunteers’ Register. Opportunities for volunteers are many and varied including for those within the Volunteer Plus scheme.

9. Financial Review

The significant changes outlined above (the development of the V+ programme, the plan to have a greater influence in the running of Andrew House and the reordering of our trading operation) have had a major impact on the Charity’s finances. The impact of the Coronavirus (C-19) Pandemic has also affected our financial situation.

The trading through our charity shops had been running at a loss, and despite the important contribution this element of the work made to providing employment and volunteering opportunities, the level of these losses was not sustainable. A review of these activities was carried out late in 2019 and changes were being considered at the time of the first C-19 lockdown in early 2020.

These were commenced in June 2020 and concluded at the end of September when agreements were reached with our landlords and 2 of our retail outlets were shut down. During the lockdown, staff were placed on furlough and we were the recipients of government support via the Retail, Hospitality and Leisure Grant.

The altered trading structure was implemented from close of business on 30 September 2020 and we concluded it was appropriate to make that our “year-end” thus aligning the accounts to separate the new from the old structure. This change in the date of the year-end applied to the charity as well as the trading subsidiary.

Plans had also been in hand to take over the operation of Andrew House in March 2020. It was agreed with our partners (Alabaré Christian Care & Support) that this would also be deferred for a year as progress was hindered by the circumstances at the time.

With the closure of much of our trading activity, we concluded that all of our work / mission could be achieved through a single entity and the assets and liabilities of the trading subsidiary were hived-up into the charity at 30 September. Therefore, these accounts cover the 18-month period from 01 April 2019 to 30 September 2020 and reflect the changes referred to above.

The Charity’s financial performance for the 18-month period was similar to previous years, but the write off of the cost of the subsidiary of £208.2k created a deficit of £167.2k.

We are pleased to report that the altered structure has generated a small surplus in the 7 months since 01 October 2020 despite the further interruptions of lockdown and the subsequent intermittent trading.

Page 7

10. Management of Risk

The trustees meet regularly and are sensitive to the risks which attend all charities (such as the risk of money laundering, and risks to its reputation), and to any special potential risks arising from the Charity's activities.

Bulletins are regularly received from various sources which alert them to new risks or to new legislation which could require them to perform in ways of which otherwise they would be ignorant. Reference is made to the Charity Commission’s Web pages for advice as required.

Operational risks have been limited due to the partnership working with Alabaré Christian Care & Support, who have taken day-to-day responsibility for running Andrew House.

The purchase of Changing Lives in Clevedon Limited, that took place in the period 2017-2018, was a major undertaking. The responsibility for financial performance of the business has rested with the Senior Managers and Directors of the Company. Regular, detailed reports on performance of the business are required from the Directors to ensure that the financial well-being of the Company and the sustainability of the Charity is maintained and enhanced. This function of the Charity, due to the changes in its structure, is now under review.

The main risks that fall to Changing Lives Charity are therefore financial risks, e.g. overseeing the trading activity of the subsidiary, the income and expenditure of the charity, risks relating to property ownership and the short to medium-term risks around the repayment / refinance of the debt that the Charity has taken on, for which a sustainable financing strategy is under active consideration.

11. Reserves Policy

The Reserves Policy, agreed on 21st November 2016, was reviewed during 2019. Whilst the refurbishment of the Charity’s freehold property, Andrew House, Victoria Road, Clevedon is largely complete, the level of monthly running costs for the Charity has increased substantially from hiving-up the trading business. This combined with the relatively short-term nature of a portion of the Charity’s debt, the Trustees believe that the policy of not setting an upper limit of cash reserves set in 2016 should remain for the time being.

The Trustees consider that the Charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved for the following reasons:

The trustees therefore consider it appropriate to adopt the going concern basis of preparation of the accounts, as detailed in note 1 to the financial statements.

Page 8

12 Future Plans

During Q3 / Q4, 2020, the transformation of the trading business and its consolidation into the Charity took place. However, throughout this period and into early Q2, 2021, the impact of Covid-19 was still being felt with 2 lockdowns and the furlough of several staff for extended periods. Due to foresight and careful planning, the business was able to sustain itself at c 50% o its usual monthly sales during this period of disrupted trading.

Further restructuring in March / April 2021 created the opportunity to appoint an experienced, full-time manager for Volunteer Plus in May 2021. The Charity therefore reached a position with 2 part-time and 1 full-time senior managers acting as its executive able to oversee day-to-day operations without depending upon the Trustees for input. This level of sustainability is a major achievement and was a strategic objective set by the Trustees in April 2019.

Implementing the Charity’s mission in the form of a) the full suite of therapeutic components for Volunteer Plus, b) the Community Hub in which to deliver the V+ programme and c) the residential component of V+ in Andrew House remains the future objective for the Charity. Excellent progress has already been made in formulating the details of the V+ programme with the support of local partners and all elements of the day programme are now ready to commence implementation.

The development of the Community Hub and the therapeutic community, likely to be based in Andrew House, present greater challenges. The concepts and a broad strategy for implementation has been identified and agreed by the Trustees. Further work is actively being pursued with the support of a consultant experienced in both creating and operating similar facilities nearby in Somerset.

The Trustees expectation is for the ‘integrated offer’ of Volunteer Plus to become available from the end of the accounting period 2020-21, and, subject to funding and a suitable building for the Hub, the residential component of V+ and the Community Hub planned for implementation in accounting period 2021-22.

13 Expression of thanks

The Trustees wish to express their sincere gratitude for the hard work and extraordinary level of commitment of all the employees, consultants and volunteers of the Charity. The Trustees extend this expression of thanks to its partners and those special people who freely give their time and considerable expertise supporting the work of the Trustee Board as advisers. Finally, the Trustees wish to thank the countless people of goodwill in North Somerset and beyond, who shop, donate and support the work of Changing Lives Charity in so many ways. Without the tireless efforts of everyone involved the Charity would not survive, let alone thrive.

As a Christian Charity, the Trustees also publicly acknowledge the providence of our Heavenly Father who, often through the Charity’s stakeholders, provides for our every need.

Approved by the Board of Trustees

and signed on their behalf by

D TOMLINSON

15 June 2021

Page 9

CHANGING LIVES CHARITY

Independent Examiner's Report to the Trustees of Changing Lives Charity

I report on the accounts for Changing Lives Charity for the 18 months ended 30 September 2020.

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. other than the matter set out below, 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.

Matter of concern identified

The Trustees' view on the impact of Covid-19 is disclosed in the Trustees' Report and in the accounting policies note. However, not all future events or conditions can be predicted. The Covid-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the charity.

Geoffrey Speirs FCA

Institute of Chartered Accountants in England and Wales

Haines Watts Chartered Accountants Bath House 6-8 Bath Street Bristol BS1 6HL

15 June 2021

Page 10

CHANGING LIVES CHARITY

STATEMENT OF FINANCIAL ACTIVITIES and INCOME & EXPENDITURE ACCOUNT

PERIOD ENDED 30 SEPTEMBER 2020

Note
Incoming Resources
Donations
Other income (Gift Aid)
Fundraising
Rental income
Income from investments
Grant income
Total incoming resources
Resources Expended
Direct costs
Grants paid out
Loan interest on property
Administration costs
Fundraising Activities
Property Expenses
Other expenses
4
Total Resources Expended
Net income
Balance brought forward at 1 April 2019
Balance carried forward at 30 September 2020		 Period
1.4.19
Year Ended
to 30.9.20
31.3.19
£
£
20,406
51,751
-
1,396
-
4,984
52,546
27,600
1,807
80
25,000
(563)
99,759
85,248
5,000
-
-
288
19,065
12,960
11,566
5,269
20,827
613
2,304
30,989
208,160
-
266,922
50,119
(167,163)
35,129
181,448
146,319
14,285
181,448

Page 11

CHANGING LIVES CHARITY

BALANCE SHEET AS AT 30 SEPTEMBER 2020

Note
FIXED ASSETS
Tangible Fixed Assets
5
Investment in Changing Lives in Clevedon Limited
CURRENT ASSETS
Debtors
6
Cash at Bank
CREDITORS
Amounts falling due within one year
7
NET CURRENT ASSETS
DEBTORS
Amounts falling due after more than one year
8
CREDITORS
Amounts falling due after more than one year
9
TOTAL NET ASSETS
FUNDS
Unrestricted Charitable Funds		 2020
2019
£
£
529,273
520,934
2
40,002
529,275
560,936
8,542
10,000
213,411
81,686
221,953
91,686
130,943
5,224
620,285
647,398
-
111,050
606,000
577,000
14,285
181,448
14,285
181,448

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

Page 12

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 and were signed on its behalf by:

D TOMLINSON

15 June 2021

Page 13

CHANGING LIVES CHARITY

NOTES TO THE FINANCIAL STATEMENTS PERIOD ENDED 30 SEPTEMBER 2020

1 ACCOUNTING POLICIES

Basis of Preparation

Changing Lives Charity is a company limited by guarantee without share capital use, registered in England and Wales. 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.

These financial statements are those of the parent company only and not that of the group, as the charitable parent company has taken advantage of the available exemptions not to prepare consolidated accounts.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. However, the Covid-19 pandemic is likely to have a profound impact on the global economy, and may in turn affect the charity. The trustees have considered the impact of this issue on the charitable company's current and future financial position. The charity holds unrestricted, general reserves of £14,285. The trustees consider that the charity has sufficient cash reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.

Incoming Resources

Income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, and it is probable that the income will be received and the amount can be measured reliably. Donations and gifts are accounted for when received. Income Tax reclaimed in relation to amounts received under gift aid is included in the same period as the income to which it relates.

Resources Expended

All resources expended are accounted for on an accruals basis.

Tangible fixed assets valuation

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

Freehold property - Not depreciated
Fixtures & fittings - 3 years straight line
Motor vehicles - 5 years straight line

All fixed assets are stated at purchase cost plus incidental expenses of acquisition.

No provision for depreciation has been made for freehold property as it is the view of the Trustees that the estimated residual value of each property is not materially different from the carrying value.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives of the discretion of the trustees.

Page 14

1 ACCOUNTING POLICIES - continued

Taxation

No charge to taxation arises in respect of any of the activities of the Company by reason of its charitable status.

Debtors

Debtors are measured on initial recognition at settlement amount after any amounts advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Creditors

The charity has creditors which are measured at settlement amounts.

Financial instrument

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Donated goods and services

The value of services provided by volunteers is not incorporated into the financial statements.

Where goods or service are provided to the charity as a donation that would normally be purchased from suppliers, the contributions are included in the financial statements as an estimate based on the value of the contribution.

Concessionary loans

Concessionary loans include those payable to third parties which are interest free or below market interest rates and are made to advance charitable purposes. The charity has applied S34 of FRS102 with regards to the valuation of loans to public benefit entities so that discounted present value and an associated interest charge are not recognised. All loans are measured at cost.

2 STAFF COSTS AND TRANSACTIONS WITH DIRECTORS

No staff costs were incurred in either year and no Director/Trustee has received any remuneration for services as a Director/Trustee in either year.

The average number of employees during the period was lees than 1 (2019 - nil).

3 INDEPENDENT EXAMINER'S REMUNERATION

The independent examiner’s remuneration consists of the following:

For independent examination
OTHER EXPENSES
Hiving up of subsidiary		 2,250
850
2,250
850
208,160
208,160
-

4 OTHER EXPENSES

At the year end, the trading subsidiary, Changing Lives in Clevedon Limited, was hived up into the charitable company. Net liabilities of £208,160 have be subsumed into the charity.

Page 15

5
TANGIBLE FIXED ASSETS
COST
As at 1 April 2019
520,934
-
-
520,934
Additions - hived up from subsidiary
-
1,439
6,900
8,339
As at 30 September 2020
520,934
1,439
6,900
529,273
DEPREICATION
As at 1 April 2019
-
-
-
-
Charge
-
-
-
-
As at 30 September 2020
-
-
-
-
NET BOOK VALUE
As at 30 September 2020
520,934
1,439
6,900
529,273
As at 31 March 2019
520,934
-
-
520,934
2020
2019
£
£
6
DEBTORS
Trade debtors
6,739
-
Other debtors and prepayments
1,803
10,000
8,542
10,000
7
CREDITORS: Amounts falling due within one year
Loans from Directors/Trustees
105,000
-
Trade creditors
6,833
-
Social security and other taxes
4,402
-
Other creditors and accruals
8,757
474
Van loans
5,951
4,750
130,943
5,224
8
DEBTORS: Amounts falling due after more than one year
Loan to Changing Lives in Clevedon Limited
Over 1 year, under 5 years
-
111,050
-
111,050
9
CREDITORS: Amounts falling due after more than one year
Loans from Directors/Trustees
Over 5 years
53,500
50,000
Over 1 year, under 5 years
149,500
90,000
Company loan (over 1 year, under 5 years)
81,000
100,000
Mortgage loan on property repayable under 5 yrs
322,000
322,000
Other creditor due 31 March 2019
-
15,000
606,000
577,000
Freehold
Land &
Buildings
Fixtures &
Fittings
Motor
Vehicles
Total
Included in other creditors is £589 (2019: nil) in relation to pension contributions owing.		 520,934
-
-
1,439
Freehold
Land &
Buildings
Fixtures &
Fittings		 -
520,934
6,900
8,339
Motor
Vehicles
Total
520,934
1,439		 6,900
529,273
-
-
-
-		 -
-
-
-
-
-		 -
-
520,934
1,439		 6,900
529,273
520,934
-		 -
520,934
2020
2019
£
£
6,739
-
1,803
10,000
8,542
10,000
105,000
-
6,833
-
4,402
-
8,757
474
5,951
4,750
130,943
5,224
-
111,050
53,500
50,000
149,500
90,000
81,000
100,000
322,000
322,000
-
15,000
606,000
577,000

Page 16

10 RELATED PARTY TRANSACTIONS

The charity (and trading subsidiary in 2019) has received loans from trustees as follows;

2020 2019
£ £
Arden Resources* Repayable in less than 1 year 100,000
Terry Mears Repayable in less than 1 year 5,000
Arden Resources* Repayable in over 1 year 10,000 100,000
Terry Mears Repayable in over 1 year 5,000
Jeff Peacock Repayable in over 1 year 50,000 50,000
Ray Wilson Repayable in over 1 year 90,000 90,000
Arden Resources* Repayable in over 5 years 71,000 55,000
Jeff Peacock Repayable in over 5 years 15,500 15,500
Ray Wilson Repayable in over 5 years 47,500 37,500

The above concessionary loans are not secured and are interest free.

Page 17