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2021-03-31-accounts

Ctt
onens Page
Trustees'
Annual
Report
Auditor's
Report
Statement
of Financial Activities		 13
Balance Sheet 16
Cash Flow Statement 17
Notes to the Financial Statements 18

Trustees —Trustees are a
than five or more than 13.		 ppointed
for a period ofthree years.
Th		 ppointed
for a period ofthree years.
Th		 e number oftrustees
cannot be less		 number oftrustees
cannot be less
Induction
and training of		 new trustees —It isthe policy ofLifelites to provide appropriate
induction
and
training
for new trustees.		 Every trustee
is encouraged
to contribute		 effectively
to the governance
and
fundraising
ofthe charity.
Committees —The trustees have the power todelegate functions to committees,
provided
that any such
committee
comprises
two or more persons
and that at least two of the members
are trustees.
hlon-
trustees
may be co-opted to these committees.
The trustees
have
appointed
a Charitable
Projects
Committee
to support
the charity's
day-to-day
activities
and to provide
policy recommendations
to the
Trustees and a Fundraising
and PR Committee
to assist with fundraising.
The Charitable
Projects Committee		 is also advised
by aTechnical Advisory
Panel ofexpert volunteers
which
continually
reassesses
the technology
provision
for children
cared for in hospices
and similar
environments
to ensure benefits forthe users and value for money for the chadity.
Risk management
—The		 trustees
periodically
review the operational,		 financial,
regulatory,
legal and
strategic risks affecting
Lifelites and		 risk management
procedures.		 Appropriate
measures
to mitigate
the effects of identified
risks are in place and remain
under review.
The principal
risks identified
and agreed actions to mitigate are shown		 in the following table.
Potential
risk		 Potential impact Mitigation
A major international
issue		 shuts We are unable to continue
with our		 Business continuity
plan in place.
down the country work for children's
hospice services.		 Agree contingencies
in case cf
One or more fundraising
source		 partial or complete shutdown.
becomes restricted to us or is Maintain
and develop a mixed and
diverted to crisis causes flexible fundraising
portfolio,
SigniTicant unexpected
financial
loss		 Reputational
damage,
loss of		 Business continuity
plan in place,
confidence with key stakeholders Strong financial procedures,
and impact upon continuing particularly
budgetary
planning
and
financial
sustainability		 control,
Oversight
from the
trustees.
Significant
long-term
loss in		 the Impacts financial
sustainabllity
and		 Business continuity
plan
in place.
value ofthe investment
portfoga		 reputational
damage
with donors		 Appointment
ofAsset Risk
Consultants
as expert investment
advisors,
providing
monthly
performance
reporting
and analysis.
Oversight from the Treasurer
and
the Board.
Loss ofdonation ofoffice or office Operations
compromised		 The MCF have committed to
accommodation
unavailable		 maintain
the donation ofour office
facilities.
Business continuity
plan and remote
working procedures
developed.
All
records kept electronicall
.
Page 4 of29

Fraud Financial Financial loss, reputational loss, reputational loss, reputational loss, reputational loss, reputational damage, Fraud prevention
integral to staff
adverse impact upon staff induction.
Auditable
procedures
are in place for our mail to ensure
secure handlin
ofdonations.
Loss ofdonated IT services or cyber All key operations are compromised Negotiated
with MCF and United
attack Grand Lodge ofEngland
(UGLE) to
maintain
the donation
ofour IT
services.
UGLE and IT network
providers
have
strong security procedures
in place
covering access, protection,
backups
and disaster recovery facilities.
Data protection breach Reputational damage and significant Data protection
policies, ITsecurity
financial penalties and HR policies are in place.
Lack ofcompliance with Breach of legal obligations, HR procedures
and staff handbook.
employment legislation potential financial penalties, Induction
processes for new staff.
breakdown ofstaff morale and Ongoing management
training
and
adverse impact upon service personal development
reviews
provision
Undue
reliance		 on key persons Operational breakdown, adverse Business continuity
plan in place.
impact upon staff morale, poor Database and other processes
service to beneficiaries created for consistent
record
keeping.
Regular Charitable
Projects Committee
meetings
ensure adherence to policies.
Support for Lifelites chief executive
if required
is available
on a pro
bono basis via the MCF.
Internet safety via our equipment is Reputational risk internet safety falls under the
called into question hospices'
own duty ofcare.
Hospices sign our internet safety
declaration
when new equipment		 is
installed
clarifying their
responsibility
for internet safety.
Risks are actively monitored by and formally reviewed by the trustees' board at each meeting.
Fundraising Standards - Lifelites operates its direct fundraising activities
in accordance
with the
Chartered
Institute		 of Fundraising Codes of Fundraising Practice, as follows:

Note Unrestricted Restricted Total Total
funds funds Funds Funds
2021 2021 2021 2020
E'000 2000 K'000 8000
INCOIIE
Donations 203 294 497 645
Legacies 0 0 0 60
Investment
income		 77 0 77 74
Grant (Furlough) 60 0 60
Total income 340 294 779
EXPENDITURE
Cost ofgenerating funds (147) 0 (147) (163)
Investment
management		 costs (18) 0 (18) (17)
165 0 165 180
Charitable
activities		 (262) (217) (479) (670)
Total expenditure 427 217 644 850
Net gains/(losses) on investments 763 0 763 (234)
NET MOVEMENT IN FUNDS 676 77 753 305
Total funds brought forward 3,349 130 3,479 3,784
Total funds carried forward 4,025 207 4,232 3,479
BALANCE SHEETas at 31 MarCh 2021 Note 2021 2020
f'000 f'000
FRED ASSETS
Tangible asset 3 4
investments 3,901 3,083
3,904 3,087
CURRENT ASSETS
Debtors 54 99
investments 104 201
Cash at bank and
in hand		 211 119
CURRENT LIABILlTIES
Creditors
falling due within one year		 (41) (27)
NET CURRENT ASSETS 328 392
Total net asaeta 4,232 3,479
4 232 3,479
CHARlTABLE FUNDS
Restricted
income funds		 10,11 207 130
Unrestrtcted
funds
Designated
reserves		 10,1 1 2,579 0
General reserves 10,11 1,446 3349
Total charitable
funds		 3,479

YEAR ENDED 31 MARCH YEAR ENDED 31 MARCH
CASH FLOW STATEMENT 2021
2021 2020
F000 E'000
Operating
Activities
Net cash provided
by/(used
in) Operating		 Activities A 86 290
Cash flows from investing
activities
Dividends,
interest
and rents from investments		 77 74
Purchase oftangible fixed assets 1 (4)
Proceeds from the sale of investments 200 151
Purchase of investments (100) 0
Net cash provided
by/(used
in) Investing		 Activities 178 221
Change
in cash and cash equivalents		 in the reporting
period 92 (69)
Cash and cash equivalents
at the beginning		 ofthe reporting
period 188
Cash and cash equivalents
at the end
pel'lcd		 of the reporting B 211 119
Notes on the cash flow statement
A Reconciliation
of net income/(expenditure)		 to net
cash flow from operating
activities
Net movement
in funds as per the Statement		 of
Financial
Activities		 753 (305)
Adjustments
for.
Dividends,
interest and rents from investments		 (77) (74)
Movements
in investments		 (821) 177
(Increase)/decrease
in debtors		 45 (81)
Increase/(decrease)
in creditors		 14 (7)
Net cash provided
by/(used
in) Operating		 Activities 290
B Analysis ofcash and cash equivalents
Cash held by investment
managers		 0 0
Cash at bank and
in hand		 211 1'I9
Total cash and cash equivalents 211 119

EA R ENDED 31 MARCH R ENDED 31 MARCH 20 21
2. INVESTMENT INCOME Unrestricted Restricted Total Total
funds funds Funds Funds
2021 2021 2021 2020
E'000 OOOO 8'000 OOOO
Income from investment porffolios 0 77 74
77 0 77 74
3. COST OF GENERATINQ FUNDS Unrestricted Restricted Total Total
funds funds Funds Funds
2021 2021 2021 2020
F'000 OOOO 8'000 E'000
Salanes,
Nl and pension		 contributions 136 136 139
Printing,
stationery		 and advertising 11 11 19
Travel expenses 0 0 4
Staff training,
conferences,		 subscriptions &
staff costs
147 0 147 163
4. CHARITAI8LE ACTIVITIES Unrestricted Restricted Total Total
funds funds Funds Funds
2021 2021 2021 2020
f'000 OOOO R'000 K'000
Supply of equipment and technologies for
use by beneficiaries 69 'l62 231 380
Service support
and training:
Salaries,
Nl and pension		 contributions 170 55 225 255
Printing,
stationery,		 postage and telephone 6 0 6 4
Travel expenses 2 0 2 18
Professional fees 2 0 2 1
Staff training,
conferences,		 subscriptions &
staff costs 0 4 2
Sundry expenses 0 3 4
Audit fee 0 6 6
193 55 248 290
262 217 479 670

5. STAFF COSTS STAFF COSTS 2021 2020
6'000 f'000
Wages and salaries 293 329
Social security costs 26 32
Pension
contributions		 29 32
Employee
benefits		 2 1
Redundancy 11 0
361
AVERAGE NUMBER OF STAFF 2021 2020
Generating funds
Charitable activities
10
STAFF EARNING IlllORE THAN K60,000 (INC. BENEFITS) 2021 2020
f70,001 to F80,000

NOTE S TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2021
6. TANGIBLE FIXEDASSETS Equipment S
Furniture
R'000
Cost
Balance at 31 March 2020
Additions
Disposals
Balance at 31 March 2021
Depreciation
Balance at 31 March 2020
Charge for the year
Disposals
Balance at 31 March 2021
Net book value
At 31 March 2021
At 31 March 2020

7. INVESTMENTS 2021 2020
OOOO F.'000
Fixed Asset Investments:
- Managed
Funds
MCF CAIF 3,901 3,083
3,901 3,083
Current Asset Investments
- RLAM 104 201
104 201
4,005 3,284
IIOVE MENTS
IN INVESTMENTS
Listed
Balance at 31 March 2020 3,284 3,612
Additions 100 0
Disposals (200) (151)
Investment
income		 76 74
Management
fees		 (18) (17)
Changes
in cash balances		 held 0 0
Gains/(losses) 763 (234)
Balance at 31 March 2021 4,OQ5 3,284
RECONCILIATION TO SOFA
Gains/(losses)
on listed investments		 763 (234)
Gains/(losses)
within cash		 balances held 0 0
763 234

8. DEBTORS 2021 2020
6'000 6'000
Prepayments and accrued income 54 34
Other debtors 0 65
54 99
9. CREDITORS 2021 2020
L'000 R'000
Falling due within one year
Amounts
owed to MCF		 13
Accruals and deferred income 16 11
Taxation and social security 7 9
Other creditors 5 6
41 27

ASSETS AND ASSETS AND Money
LIABILITIES Fixed Investments Market Current Current Fund
Assets Deposits Assets Liabilities Total
FOOOs 6000s EOOOs FOOOs KOOOs 5000s
Restricted funds 0 0 207 0 0 207
Unrestricted funds
Designated reserves 0 2,579 0 0 0 2579
General reserves 3 1,322 4 158 (41) 1,446
Total funds 3 3901 211 158 41 4232

MOVEllhENT
IN FUNDS		 MOVEllhENT
IN FUNDS		 MOVEllhENT
IN FUNDS		 Balance st Incamo Expenditure Gains/ Transfers Balance at
31 March (losses) 31 March
Restricted funds
Acorns
in Birminglism		 0 2 2 0 0 0
Andy's ai StAndrews 1 2 2 0 0 1
Bluebell Wood 0 'l4 14 0 0 0
Bnan House 0 4 1 0 0 3
Cherlton
Farm (CHSW)		 0 6 6 0 0 0
Chestnut Tree House 1 33 25 0 0 g
Christophef s (CHASE) 0 3 2 0 0 1
Claira I-louse 0 6 8 0 0 0
Demelza House Kent 0 50 34 0 0 16
Oemslza, SE London D 1'I 11 0 0 0
Derien House 0 1 1 0 0 D
EACH Ipswich (The Treehouse) D 5 2 0 0 3
EACH Miltan 1 1 1 0 D 1
Each Quidenhsrn 9 2 11 0 0 0
Ellenar 0 4 1 0 0 3
Forget Illle Not 0 1 1 0 0 0
Francis House 1 10 7 0 0 4
Haven House 0 1 1 0 0 0
Helen House 13 3 2 0 D 14
Hope House 0 2 2 0 0 0
Hospice at Hams Isle ofWight 21 0 1 0 D 20
Jessis May 0 7 7 0 D 0
Jigsaw 2 15 8 D 0 9
Julia's House, Pools 0 1 1 D 0 0
Julia's House, Oevizes 0 4 1 0 0 3
Kesch Hospice Care 0 3 2 0 0 1
l.iltle Bridge House (CHSW) 0 1 I 0 0 0
l.iltle Harbour (CHSW) 0 5 2 G 0 3
l.ittle Haven's
Hospice		 0 1 0 0 D
Martin
House		 3 7 7 G 0 3
Naomi House 6Jacksplace 34 I 2 D 0 33
Nash's
Ark Children's		 Hospice 0 4 4 0 0 0
Oakwcll
and Jersey Hospice		 0 41 14 0 0 27
Pepper Nurses I 5 1 0 0 5
Rachel House 0 4 2 0 0 2
Rainbows
children's		 Hospice 1 7 2 0 0 6
Rebecca House, isle of Man 25 0 2 0 0 23
Robin House Children's Hospice 0 4 2 0 0 2
Shooting Star (CHASE) 2 1 1 0 0 2
St Oswalds,
Newcastle		 (Pr The Bridge) 2 7 9 0 0 0
The Children's
Trust		 7 6 3 0 0 10
Ty Hafan 3 0 0 0 0 3
Zoe's Place Coventry 3 5 6 0 0 0
Zae's Place Liverpool 0 2 2 0 0 0
130 217 207
Ijnrestricted
funds: General reserves		 340 427 763 (2,579) 1,446
Designated
reserves		 0 2 579 2 579
Total funds 3479 644 763 0 4,232

Note Unrestricted Restricted Total
funds funds Funds
2020 2020 2020
E'000 f.'000 R'000
INCOME
Donations 358 287 645
Legacies 60 0 60
investment income 74 0 74
Tota! income 492 287 779
EXPENDITURE
Cost ofgenerating funds (111) (52) (163)
Investment management costs (17) 0 (17)
128 52 180
Charitable activities 419 251 670
Total expenditure (547) (303) (850)
Net gains/(losses) on investmerks (234) 0 (234)
NET MOVEMENT IN FUNDS 289 16 305
Total funds brought forward 3,638 146 3,784
Total funds carried forward 130 3,479