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2023-03-31-accounts

LIFELITES
Contents Page
Trustees Annual
Report
Auditor's
Report
Statement
of Financial Activities		 16
Balance Sheet 17
Cash Flow Statement 18
Notes to the Financial Statements 19

isted below a isted below a re risks ide ntified
with hi		 gh residua l
ri		 sks after existing controls and agreed mitigations.
Risk Details Im act Existin
Controls		 Miti ation
Lifelites lacking Mission
drift		 Refreshed
Vision,		 Working
groups
strategic direction
no written strategic
plan		 / Reputational
damage
Conflict between
strategy
/ operations
Loss offunding		 Mission &Values
Strategy
in place 2023-
28		 (Committees)
to
support and monitor
action plan to deliver
strategic priorities
Simple & high impact
charitable
objectives
Well defined
operational
action plan
in place, reviewed
quarterly
and aligned
to staff PDRs
Loss of key
personnel
/
succession		 poor
planning		 Strategic &
disruption
Short-term		 operational
increase
in		 Appropriate
notice
periods for senior staff		 Board/SLT skills audit
Refresh Trustee
expenditure Supervision
&		 Recruitment
Policy
Staff cover / burnout Performance
Failure to deliver Development
Reviews		 Establish succession
ob'ectives lan for leadershi
Page 4 of32

Low morale Low morale Shared responsibilities Shared responsibilities Shared responsibilities Shared responsibilities roles (Chair &
Loss of clear at Board Level & Treasurer)
leadership Terms of Reference for
Committees
Sole trader - See IT Failure to deliver 3-year contract covers Establish contract
Work - gives notice services eventualities and review process
or unavailable for Reputational damage responsibilities
for
protracted period Service quality reduced cover Negotiate
new contract
Loss of income from 2024
Maintained close
contact and good
relationship
Lifelites 'owns' hospice
relationships
Service contract
specification in place if
re lacementre uired
Donor / Hospice
database
breakdown		 Service
Funding		 disruption
relationships		 Migration
to
database
in		 new donor
process		 Data migration
/ unsuitable database damaged Develop automated
for strategic Data protection breach stakeholder
development Loss of data engagement
plans		 in-
High expenditure to built to new CRM
resolve
Consider database
needs for service
artners
Loss ofincome due Loss of income Emotive & unique Develop marketing &
to competition,
lack
ofpublic awareness		 Failure to deliver
strategic objectives		 cause communications plan
etc. Loss of relevance Case studies articulate 25'"Anniversary
impact campaign
plans
Good relationships with Develop celebrity &
existing supporters ambassador
programme
Rebranding &digital
cam
ai
n
Income dependency Longer-term Monthly
income		 Targeted approach to
on Freemasonry & sustainability projections Freemasonry
&other
major partners Service impact major partners
Depleting reserves High prioritisation on
stewardship Corporate
fundraising
strategy developing
Digital fundraising
development Large trust applications
in progress
Donor reco
nition

(Including
an Income		 (Including
an Income		 (Including
an Income		 and Expenditure Account)
Note Unrestricted Restricted The Ted Total Total
Gosling
funds funds funds Funds Funds
2023 2023 2023 2023 2022
6'000 F'000 E'000 F.'000 2'000
INCOME
Donations 403 145 0 548 978
Legacies 1 0 0 1 0
Investment income 101 0 5 106 76
145 5 655 1.054
EXPENDITURE
Cost ofgenerating funds (183) 0 (183) (131)
Investment management costs (20) (1) (21) (20)
(203) (1) (204) (151)
Charitable activities (368) (155) (52) (575) (593)
Total expenditure (571) (155) (53) (779) (744)
Net gains/(losses) on investments (197) (12) (209) 346
NET MOVEMENT IN FUNDS (263) (10) (60) (333) 656
Total funds brought forward 4,347 288 253 4,888 4,232
Total funds carried forward 4,084 278 193 4,555 4,888

BALANCE SHEETas at 31 March 2023 Note 2023 2022
8000 L'000
FIXEDASSETS
Intangible asset 6. 35 8
Tangible asset 6. 23 0
Investments 7. 4,197 4,504
4,255 4 512
CURRENT ASSETS
Debtors 8. 136 76
Investments 7. 105 103
Cash at bank and
in hand		 127 236
368 415
CURRENT LIABILITIES
Creditors
falling due within one year		 (68) (39)
NET CURRENT ASSETS 300 376
Total net assets 4,555 4,888
4,555 4,888
CHARITABLE FUNDS
Restricted income funds 10,11 278 288
The Ted Gosling
Fund		 10,11 193 253
Unrestricted
funds
Designated
reserves		 10,11 2,383 2,464
Designated
reserves 25 Anniversary		 10,11 1,000 1,000
General reserves 10,11 701 883
Total charitable
funds		 4,555 4,888
CASH FLOW STATEMENT YEAR ENDED 31 MARCH 2023 YEAR ENDED 31 MARCH 2023
2023 2022
F'000 E'000
Operating
Activities
Net cash provided
by/(used
in) Operating		 Activities A 345 154
Cash flows from investing
activities
Dividends,
interest and rents from investments		 106 76
Purchase of intangible
fixed assets		 (23) 0
Purchase oftangible
fixed assets		 (27) (5)
Proceeds from the sale of investments 280 200
Purchase
of investments		 (100) (400)
Net cash provided
by/(used
in) Investing		 Activities 236 129
Change
in cash and cash equivalents
period		 in the reporting (109) 25
Cash and cash equivalents
at the beginning
reporting
period		 ofthe 236 211
Cash and cash equivalents
at the end
reporting
period		 of the 127 236
Notes on the cash flow statement
A Reconciliation
ofnet income/(expenditure)		 to net
cash flow from operating
activities
Net movement
in funds as per the Statement		 of
Financial Activities (333) 656
Adjustments
for:
Dividends,
interest and rents from investments		 (106) (76)
Movements
in investments		 125 (402)
(Increase)/decrease
in debtors		 (60) (22)
Increase/(decrease)
in creditors		 29 (2)
Net cash provided
by/(used
in) Operating		 Activities 345 154
B Analysis ofcash and cash equivalents
Cash held by investment
managers		 0 0
Cash at bank and
in hand		 127 236
Total cash and cash equivalents 127 236

2. INVESTMENT INCOME INVESTMENT INCOME Unrestricted Restricted Endowment Total Total
funds funds funds Funds Funds
2023 2023 2023 2023 2022
f'000 f'000 f'000 f'000 f'000
Income from investment porffolios 101 0 5 106 76
101 0 5 106 76
3. COST OF GENERATING FUNDS Unrestricted Restricted Endowment Total Total
funds funds funds Funds Funds
F'000 f'000 f'000 f'000 f'000
Salaries,
Nl and pension		 contributions 116 116 116
Printing,
stationery		 and advertising 64 64 12
Travel expenses 2 2 2
Staff training,
conferences,		 subscriptions &
staff costs 1 1
183 0 183 131
4. CHARITABLE ACTIVITIES Unrestricted Restricted Endowment Total Total
funds funds funds Funds Funds
f'000 f'000 f'000 f'000 f'000
Supply of equipment and technologies for
use by beneficiaries 174 138 52 364 347
Service support
and		 training:
Salaries,
Nl and pension		 contributions 161 17 0 178 200
Printing,
stationery,		 postage and telephone 4 0 0 4 3
Travel expenses 10 0 0 10 7
Professional
fees		 2 0 0 2 8
Staff training,
conferences,		 subscriptions &
staff costs 0 4 2
Sundry expenses 0 5 19
Audit fee 0 8 7
194 17 0 211 246
368 155 52 575 593

5. STAFF COSTS STAFF COSTS 2023 2022
F'000 F'000
Wages and salaries 248 261
Social security costs 22 27
Pension
contributions		 24 26
Employee benefits 0 2
294 316
AVERAGE NUMBER OF STAFF 2023 2022
Generating funds
Charitable activities
S'TAFF EARNING MORE THAN 860,000 (INC. BENEFITS) 2023 2022
F70,001 to 680,000
Total

INTANGIBLE AND TANGIBLE FIXED
6. ASSETS Lifelites Equipment & Total
Branding Furniture
E'000 F'000 E'000
Cost
Balance at 31 March 2022 11 11
Additions 33 24 57
Disposals
Balance at 31 March 2023 44 24
Depreciation
Balance at 31 March 2022
Charge for the year
Disposals
Balance at 31 March 2023 10
Net book value
At 31 March 2023 35 23 58
At 31 March 2022

INVESTMENTS INVESTMENTS 2023 2022
F'000 L"000
Fixed Asset Investments:
- Managed Funds
MCF CAIF 4,197 4,504
4,197 4,504
Current Asset Investments
- RLAM 105 103
105 103
4,302 4,607
MOVEMENTS
IN INVESTMENTS
Listed
Balance at 1 April 2022 4,607 4,005
Additions 100 400
Disposals (280) (200)
Investment income 105 76
Management
fees		 (21) (20)
Gains/(losses) (209) 346
Balance at 31 March 2023 4,302 4,607
RECONCILIATION TO SOFA
Gains/(losses)
on		 listed
investments (209) 346
209 346

DEBTORS 2023 2022
F'000 8'000
Prepayments and accrued income 136 76
136 76
9. CREDITORS CREDITORS 2023 2022
2000 F'000
Falling due within one year
Amounts owed to MCF 30 12
Accruals and deferred income 12 14
Taxation and social security 9 8
Other creditors 17 5
68 39

Money
ASSETSAND LIABILITIES Fixed Investments Market Current Current Fund
Assets Deposits Assets Liabilities Total
f000s f000s f000s f000s f000s f000s
Restricted funds 0 0 278 0 0 278
Endowment Reserves
The Ted Gosling
Fund		 0 193 0 0 0 193
Unrestricted funds
Designated reserves 2,383 0 0 0 2,383
Designated
Anniversary		 reserves 25 0 1,000 0 0 0 1,000
General reserves 58 621 (151) 241 (68) 701
Total funds 58 4 197 127 241 68 4,555

as exp lained on page 10 of the Trustee s Report.
Balance Income Expenditure Gains/ Transfers Balance
31 March (losses) 31 March
2022 2023
f'000 f'000 F'000 f'000 f'000 f'000
Restricted Funds 288 145 (155) 0 0 278
The Ted Gosling Fund 253 (53) (12) 0 193
Unrestricted funds:
General reserves 883 505 (571) (197) 81 701
Designated reserves —25
Anniversary 1,000 0 0 0 0 1,000
Designated
reserves-
Hopsice Support		 2,464 0 0 0 81 2,383
Total funds 4,888 655 779 209 0 4,555
Page 30of32

Note Unrestricted Restricted Endowment Total
funds funds funds Funds
2022 2022 2022 2022
E'000 2000 E'000 F'000
INCOME
Donations 444 284 250 978
Legacies 0 0 0 0
Investment income 76 0 0 76
Total income 520 284 250 1,054
EXPENDITURE
Cost ofgenerating funds (131) 0 (131)
Investment management costs (20) 0 (20)
151 0 151
Charitable activities 390 203 0 593
Total expenditure (541) (203) (744)
Net gains/(losses) on investments 343 3 346
NET MOVEMENT IN FUNDS 322 81 253 656
Total funds brought forward 4,025 207 0 4232
Total funds carried forward 4,347 288 4,888