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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 08137149 (England and Wales) REGISTERED CHARITY NUMBER: 1167858

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

MY LIFE LEGACY (A COMPANY LIMITED BY GUARANTEE)

NR Barton 1st Floor Waterside House Waterside Drive Wigan Lancashire WN3 5AZ

MY LIFE LEGACY

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

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 to 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 21
Detailed Statement of Financial Activities 22 to 23

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

My Life Legacy was formed initially in 2012 as a CIC and converted into a charity in July 2016. These accounts are for our fourth year as a charity which continues to build on the success of the CIC.

Chairmans Report

For My Life, as for all organisations, the year to April 2021 has been dominated by Covid-19; partly by the effects of the Virus itself and partly by the 'pingdemic'. Throughout the year we have continued to deliver our services to all of those who were able to take advantage of them and by the end of the year we were returning to a form of normality.

Our staff have been wonderful. Their dedication, flexibility and determination to continue to provide quality care and support has meant that they have filled in for colleagues who were ill or self-isolating. We have had to act as a whole organisation to plug gaps and to respond to changing (and often late and conflicting) advice on how we should respond to the pandemic. They are naturally in many cases stretched and stressed and we are doing more to train, develop and support them.

The impact of the pandemic on our services has been uneven. My Life Support has continued much as before but with the challenges of having full teams of personal assistants in place as temporary (and sometimes permanent) vacancies occurred. Day Opportunities initially was much reduced as Members did not travel during lockdowns and many self-isolated. Gradually, with the vaccine roll-out and the easing of restrictions attendances have built back and now demand is exceeding that which we were experiencing at the start of the year. This initial downturn gave us the opportunity to do a great deal of work to improve the site at Standish and to begin to reframe Day Opportunities into Life Opportunities with a greater emphasis on the integration of support and life skills into the community. My Life Learning also had very reduced attendances during the lockdowns but again, by the end of the year learners were coming back and numbers increased.

At first there was great uncertainty about funding. During this time, and where appropriate, we furloughed some staff, but brought them back as soon as was possible. Our host local authority, Wigan, and the education funders continued their funding for a time irrespective of the drop in attendances and this was very helpful. Whilst the Advocacy contract came to an end, we have in the rest of our activities been able to remain viable and the Charity is, given all the circumstances, in good financial health.

Our Strategic Plan envisaged some significant growth this year which we recognised would not be possible and so we planned instead for a steady state with growth hopefully being possible next year. We more than achieved that revised target.

Towards the end of the year two challenges were accentuated. It is increasingly difficult to recruit staff. This is a national problem in the care and support sector which may intensify as labour shortages grow and pay differentials widen. Funders too have come under more pressure and are increasingly trying to depress the necessary size of personal budgets. This has meant that there are some people we cannot support as at the payments offered we do not believe we can provide the necessary quality of care in a sustainable fashion. This too is getting worse.

All the Trustees join me in thanking all of those who have in this uniquely difficult year made it possible for us to continue provide good quality care and support to our Members, and to go further in making improvements and changes to our services. It has been a year when the worth of the Values of the Charity have shone through in the manner in which we have responded and been able to interact with Members, their families, commissioners and funders.

A year of many challenges, several negatives, but some real positives. Like everyone we hope the next year will be nearer to 'normal'.

Steve Jones Chairman

Page 1

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Objectives and activities Objectives and aims

To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the need of those people who are socially excluded and assisting them to integrate into society by the provision of support, education and practical advice throughout England and Wales. (For the purpose of this clause 'socially excluded' means being excluded from society or parts of society as a result of age, ill-health, or disability).

My Life is based across 3 sites, an 84 acre Eco/Equestrian Centre in Standish, Leigh Sports Village and an office base at Smith Court in Pemberton for My Life Support where we work within the community providing registered bespoke care and support to individuals within their own homes.

Our mission is 'To Create a Community where Everyone Belongs' and work with a wide range of individuals of all ages and abilities.

We lease the sites we use from the respective landlords, at the Standish site we have had to invest in construction of new buildings being the physical infrastructure. We have received funding in some areas to enhance the respite facilities, however we have had to make the choice to invest any surplus into the sites to keep them up to standard.

Information, Advice and Support

My Life Legacy was built on giving free information, advice and support to families with a loved one with disabilities and or support needs. We continue to do this and bring a wide range of experts in to help families with their ongoing journey.

Page 2

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Objectives and activities

Significant activities

The new financial year 2020 started in the midst, of an international pandemic and like many organisations and businesses we had to quickly adapt to the new demands, whilst continuing to survive. We put in place our Business Continuity Plan within a week, and adjusted to ensure, as much as possible, we could prepare for the international pandemic.

Fortunately, due to our unique facilities most part of the charity remained open and functional for those individuals that simply couldn't have managed in their home environment through lockdown or those who we supported at home. Priority, for us was to ensure the people we supported remained healthy, safe and well.

We kept in close contact with all of the people we support, delivered essential hampers and as much PPE as required. Our volunteers came to fruition as we asked the community to support us in making PPE hospital gowns for Wigan Infirmary. Within 24 hours we had co-ordinated over 200 volunteers who assisted in making over 1000 gowns which were delivered within the week. This shows what an amazing network of people within the community we have.

Our delivery model changed during periods of the lockdowns, in that we were working intensively with a small group of individuals on our sites, supporting people in their own homes with My Life Support continued as usual and My Life Learning delivered education virtually. We had to adapt to the changing Government guidance and supported individuals and their families throughout the whole process individually based on their requirements.

Some of our staff worked from home, some were furloughed as appropriate, or remained off and paid to ensure everyone remained as safe as possible. We utilised the time and skeleton people resource to continue to improve the Standish site and extensive improvements were made. This ensured our workforce kept motivated during the lock downs and remained connected in case significant adjustments had to be made. Unfortunately, due to the uncertainty of funding we had to make a small number of employees redundant.

Stable Door Café has suffered through the long closure, however due to its location we have seen an increase in foot fall down the public footpaths and therefore awareness. As the café has opened for take away and latterly 'eat in/out' this has started to have a small impact. Equally the impact on work experience for young people has been impacted upon and we have innovatively developed some creative ideas to bring the workplace to our learners through car valeting.

We had to adjust to using technology in a much more significant way which enabled all strategic, and operational activity to keep momentum. This included Board Meetings, Management Meetings, and various departmental meetings to continue. Equally it ensured our workforce remained in touch as well as using the opportunity for CPD training to be put in place.

The vaccination breakthrough has enabled us to positively look forward. We have a significant number of staff vaccinated and have made a decision for all new recruits to ensure they are vaccinated or are willing to be. Our decision, although not mandatory, is good practice as we are working with some of the clinically most vulnerable individuals.

The year has been a roller coaster and thankfully as the year end is ending, there is hope with the roll out of the vaccinations. We have seen schools return nationally and this has been the trigger for our sites to have people back as well as welcoming new people. We anticipate a demand for all of what we do increasing significant over the summer months of 2021 and beyond.

Strategic report

Financial review

Financial position

Income levels have still increased in this period, despite the pandemic. The main area of increase being My Life Support income as we have continued to onboard new clients. The main income streams of Day Opportunities, SEND (My Life Learning) and My Life Support equate to 86% of the total income.

The costs for year have all increased and this is due to the increase in activity levels and the growth of the charity. The biggest increase being that of wages.

Page 3

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Strategic report

Financial review

Principal funding sources

The principal source of funding in the year was income from Day Opportunities, SEND (My Life Learning) and My Life Support. Although the pandemic has had a significant effect, we have been fortunate to have received funding in whole or part from the various funding bodies. This income has funded expenditure on salaries and administrative expenses in relation to projects undertaken throughout the year, which support the key objectives of the charity. Where there has been a deficit in funding, we have claimed Furlough monies as appropriate.

Investment policy and objectives

The charity's investment policy is to retain all available funds on deposit to give sufficient liquidity to meet ongoing day-to-day needs.

Reserves policy

My Life Legacy is a charity which aims to be a sustainable organisation, so we are here for many years to come enabling us to continue to provide help and support to individuals and their families.

We help to make lives better for people of all ages who need support to live a good life, including children, young people and adults with disabilities, people with ill health or age-related problems, and people who generally feel lonely or isolated within their communities.

We work across health, education and social care sectors, as well as providing a wide range of events, opportunities, catering and hospitality for all of our members, students and their families to benefit from. Every individual who we work with has individualised funding, which enables them to proactively choose to use My Life. The very essence of what we do is to coach, teach and facilitate individuals to develop their skills, gifts and talents. Therefore, many go on to experience new opportunities in different places which we celebrate. This enables more individuals to benefit from the great work of the charity, as people move on it creates spaces for others.

This however needs to be managed responsibly as we can have a lag between people moving on and new people starting. This period can be between 3-6 months, for example a student may leave in July and new students may not start until September. Therefore, we need to manage our finances responsibly to ensure we are sustainable. Therefore, we hold unrestricted reserves in our account for 3-6 months that enable us to allow for this aspect of our service as well as any other unpredictable situation such as an international pandemic.

For the purpose of this Policy, our reserves shall be defined as the Balance Sheet item "Unrestricted Reserves" minus the "Fixed Assets" value. This figure is to help reflect the ease and availability of liquidity.

Structure, governance and management

Governing document

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

Recruitment and appointment of new trustees

The trustees who have served during the year are set out on page 5. The trustees are appointed by members of the charity. All of the trustees retire each year at the Annual General Meeting and may offer themselves for re-election in accordance with the Articles of Association.

Organisational structure

The charity is governed by the Board of Trustees which includes the trustees and meets regularly to oversee the work and development of the organisation.

The management team is responsible for overseeing the strategic development of the organisation, including long-term sustainability, recruitment, retention and supervision of staff, project developments and seeking funding, budget management and the day to day running of the organisation.

Page 4

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Structure, governance and management

Induction and training of new trustees

Initially, new trustees are inducted into the Organisation by attending the same induction course as staff, volunteers and placements. Additionally, trustees have access to guidance information provided by the management committee which covers such items as roles and responsibilities, legal obligations under charity and company law, the content of the Memorandum and Articles of Association, organisation structures and decision making processes, business planning and understanding financial information. Trustees are encouraged to attend appropriate external training courses which will facilitate their understanding of their role and meet their individual training needs.

Risk analysis

The Charity has carried out a review to identify major risks and has taken steps to mitigate against them.

The major risks identified are:

The impact of an international pandemic.

Inability to recruit and retain appropriately qualified and experienced staff Fundraising, Grant making and Events Activity on hold.

It is of the opinion of the trustees that the Charity has policies, procedures and controls adequate to maintain its future financial viability. Current staffing and volunteer levels are adequate.

Reference and administrative details

Registered Company number

08137149 (England and Wales)

Registered Charity number

1167858

Registered office

Thompson House Equestrian Centre Pepper Lane Standish Wigan Lancashire WN6 0PP

Trustees

Mr Alan Bell Mr Stephen Morris Jones Mrs Amanda Mcdonough Mrs Caroline Tomlinson Helen Gaskell Steve Noonan Susan Johnson (appointed 19.2.21) Sarah Wilson (appointed 26.5.21) Kevin Massey

Auditors

NR Barton 1st Floor Waterside House Waterside Drive Wigan Lancashire WN3 5AZ

Page 5

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

Statement of trustees' responsibilities

The trustees (who are also the directors of My Life Legacy for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Auditors

The auditors, NR Barton, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 22 October 2021 and signed on the board's behalf by:

Mrs Caroline Tomlinson - Trustee

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF MY LIFE LEGACY

Opinion

We have audited the financial statements of My Life Legacy (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF MY LIFE LEGACY

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF MY LIFE LEGACY

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Auditor's Responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the group financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these group financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

o Consideration given at all times to the entity's susceptibility to material misstatement was ensured at all times in the audit including consideration of how fraud could occur. This involved considerations of the nature of the entity's activities and transactions with the potential identification of fraud at all times.

o Identification of key laws and regulations considered to central to the entity, including a review of any policies and procedures in place to ensure compliance

o Ensured that engagement team had the necessary competence and capabilities to identify any examples of non-compliance at all stages

o Audit work was completed in all relevant areas that was deemed to be appropriate for the client and the associated risks in respect of potential misstatements, including fraud. Our audit work was designed to assess these risks in all areas and included enquiry of management, review of financial statement disclosures and tracing to relevant documentation as well as the consideration of the risk of potential management override

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF MY LIFE LEGACY

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Catherine Rogers BSc FCA (Senior Statutory Auditor) for and on behalf of NR Barton 1st Floor Waterside House Waterside Drive Wigan Lancashire WN3 5AZ

22 October 2021

Page 10

MY LIFE LEGACY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Notes
INCOME AND
ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
5
Training, support and activities
Day Opportunities
SEND
MyLife Support
Other trading activities
4
Other Income
Total
EXPENDITURE ON
Charitable activities
6
Training, support and activities
NET INCOME
RECONCILIATION OF
FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
fund
£
28,343
(1)
843,587
698,630
1,902,270
249,279
273,470
3,995,578
3,806,576
189,002
465,495
654,497		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-		 Ringfenced
funds
£
-
-
-
-
-
3,006
-
3,006
-
3,006
4,719
7,725		 31.3.21
Total
funds
£
28,343
(1)
843,587
698,630
1,902,270
252,285
273,470
3,998,584
3,806,576
192,008
470,214
662,222		 31.3.20
Total
funds
£
11,967
-
851,855
614,802
1,413,868
343,083
-
3,235,575
3,175,956
59,619
410,595
470,214

The notes form part of these financial statements

Page 11

MY LIFE LEGACY

BALANCE SHEET 31 MARCH 2021

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one
year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS
CURRENT LIABILITIES
CREDITORS
Amounts falling due after more
than one year
13
NET ASSETS
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
389,347
426,056
571,649
997,705
(684,222)
313,483
702,830
(48,333)
654,497		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 Ringfenced
funds
£
-
-
7,725
7,725
-
7,725
7,725
-
7,725		 31.3.21
Total
funds
£
389,347
426,056
579,374
1,005,430
(684,222)
321,208
710,555
(48,333)
662,222
654,497
7,725
662,222		 31.3.20
Total
funds
£
342,443
384,114
309,450
693,564
(560,060)
133,504
475,947
(5,733)
470,214
465,495
4,719
470,214

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 22 October 2021 and were signed on its behalf by:

Mrs Caroline Tomlinson - Trustee

The notes form part of these financial statements

Page 12

MY LIFE LEGACY

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Net cash provided by/(used in) financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.3.21
£
344,120
(1,623)
342,497
(113,890)
(113,890)
50,000
(8,683)
41,317
269,924
309,450
579,374		 31.3.20
£
280,078
(1,582)
278,496
(124,779)
(124,779)
-
(7,944)
(7,944)
145,773
163,677
309,450

The notes form part of these financial statements

Page 13

MY LIFE LEGACY

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Interest paid
Increase in debtors
Increase in creditors
Net cash provided by operations		 31.3.21
£
192,008
66,986
1,623
(41,942)
125,445
344,120		 31.3.20
£
59,619
52,979
1,582
(88,607)
254,505
280,078

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.4.20
Cash flow
At 31.3.21
£
£
£
Cash at bank and in hand 309,450
269,924
579,374
309,450
269,924
579,374
Debt
Debts falling due within 1 year (7,591)
1,283
(6,308)
Debts falling due after 1 year (5,733)
(42,600)
(48,333)
(13,324)
(41,317)
(54,641)
Total 296,126
228,607
524,733

The notes form part of these financial statements

Page 14

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. STATUTORY INFORMATION

My Life Legacy is a charitable company, limited by guarantee and has no share capital and is registered in England and Wales. The company's registered number and registered office address can be found in the Report of the Trustees.

The presentation currency of the financial statements is Pound Sterling (£).

2. 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.

The trustees have reviewed the charity's forecasts and projections and in particular have considered the potential implications of the Coronavirus (COVID - 19) pandemic. Whilst the eventual financial impact of the pandemic on the charity, and on the overall economy, remains uncertain, the trustees are confident that the charity will be able to remain operational throughout the pandemic. The trustees have reasonable expectation that the charity will have adequate funding and support to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grant have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

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.

Tangible fixed assets

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life, using rates between 10% and 25%.

Taxation

The charity is exempt from corporation tax on its charitable activities.

continued...

Page 15

MY LIFE LEGACY

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

2. ACCOUNTING POLICIES - continued

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.

3. DONATIONS AND LEGACIES

Donations
Grants and funding
4.
OTHER TRADING ACTIVITIES
Membership fees
Events
Training - skills for care
Merchandise sales
Other
Respite
Advocacy
Cafe and kitchen		 31.3.21
£
2,947
25,396
28,343
31.3.21
£
1,710
886
-
18,526
7,346
26,929
146,270
50,618
252,285		 31.3.20
£
11,967
-
11,967
31.3.20
£
6,765
31,280
21,382
9,717
15,288
25,360
137,800
95,491
343,083

continued...

Page 16

MY LIFE LEGACY

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

5. INCOME FROM CHARITABLE ACTIVITIES

----- Start of picture text -----
||||| |---|---|---|---| |31.3.21|31.3.20| |Activity|£|£| |-| |Day opportunities|Training, support and activities|(1)| |Day opportunities|Day Opportunities|843,587|851,855| |SEND (My Life Learning)|SEND|698,630|614,802| |MyLife Support|MyLife Support|1,902,270|1,413,868| |3,444,486|2,880,525|

----- End of picture text -----

6. CHARITABLE ACTIVITIES COSTS

----- Start of picture text -----
||| |---|---| |Direct| |Costs| |£| |Training, support and activities|3,806,576|

----- End of picture text -----

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |31.3.21|31.3.20| |£|£| |Depreciation - owned assets|66,986|52,979| |Other operating leases|118,304|102,463|

----- End of picture text -----

8. TRUSTEES' REMUNERATION AND BENEFITS

The Founder Trustee and former Director of the CiC was appointed CEO on 1 August 2016 and received remuneration in the period totalling £62,389.

Trustees' expenses

No charity trustee received payment for professional or other services supplied to the charity.

9. STAFF COSTS

----- Start of picture text -----
|||| |---|---|---| |31.3.21|31.3.20| |£|£| |Wages and salaries|2,726,015|2,316,531| |Other pension costs|40,830|36,563| |2,766,845|2,353,094| |The average monthly number of employees during the year was as follows:| |31.3.21|31.3.20| |Management|1|1| |Costs of generating voluntary income|3|3| |Finance|3|3| |Charity administration and activities|131|111| |138|118|

----- End of picture text -----

No employees received emoluments in excess of £60,000.

continued...

Page 17

MY LIFE LEGACY

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

10. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Additions
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 14)
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 31.3.21
£
385,298
40,758
426,056
31.3.21
£
6,308
128,967
52,630
156,534
339,783
684,222		 Fixtures
and
fittings
£
500,150
113,890
614,040
157,707
66,986
224,693
389,347
342,443
31.3.20
£
310,715
73,399
384,114
31.3.20
£
7,591
135,825
96,717
93,933
225,994
560,060

continued...

Page 18

MY LIFE LEGACY

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

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21 31.3.20
£ £
Bank loans (see note 14) 48,333 5,733
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans		 31.3.21
£
6,308		 31.3.20
£
7,591
Amounts falling between one and two years:
Bank loans - 1-2 years		 48,333 5,733

14. LOANS

15. LEASING AGREEMENTS

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

Within one year
Between one and five years
In more than five years		 31.3.21
£
40,000
120,000
140,000
300,000		 31.3.20
£
40,000
120,000
140,000
300,000

16. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Ringfenced funds
TOTAL FUNDS		 At 1.4.20
£
465,495
4,719
470,214		 Net
movement
in funds
£
189,002
3,006
192,008		 At
31.3.21
£
654,497
7,725
662,222

continued...

Page 19

MY LIFE LEGACY

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

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Ringfenced funds
TOTAL FUNDS
Comparatives for movement in funds
At 1.4.19
£
Unrestricted funds
General fund
375,876
Restricted funds
Ringfenced funds
34,719
TOTAL FUNDS
410,595
Comparative net movement in funds, included in the above are as
Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
3,995,578
3,006
3,998,584
Net
movement
in funds
£
59,619
-
59,619
follows:
Incoming
resources
£
3,235,575
3,235,575		 Resources
expended
£
(3,806,576)
-
(3,806,576)
Transfers
between
funds
£
30,000
(30,000)
-
Resources
expended
£
(3,175,956)
(3,175,956)		 Movement
in funds
£
189,002
3,006
192,008
At
31.3.20
£
465,495
4,719
470,214
Movement
in funds
£
59,619
59,619

continued...

Page 20

MY LIFE LEGACY

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

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Ringfenced funds
TOTAL FUNDS		 At 1.4.19
£
375,876
34,719
410,595		 Net
movement
in funds
£
248,621
3,006
251,627		 Transfers
between
funds
£
30,000
(30,000)
-		 At
31.3.21
£
654,497
7,725
662,222

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
Ringfenced funds
TOTAL FUNDS		 Incoming
resources
£
7,231,153
3,006
7,234,159		 Resources
expended
£
(6,982,532)
-
(6,982,532)		 Movement
in funds
£
248,621
3,006
251,627

17. RELATED PARTY DISCLOSURES

During the period the charity was invoiced for services provided by Alocura Limited, a company in which trustees are directors, totalling £474,528 (2020 - £186,036). There was a balance due to Alocura Limited as at 31 March 2020 of £46,372 (2020 - £43,975).

Page 21

MY LIFE LEGACY

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

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants and funding
Other trading activities
Membership fees
Events
Training - skills for care
Merchandise sales
Other
Respite
Advocacy
Cafe and kitchen
Charitable activities
Day opportunities
SEND (My Life Learning)
MyLife Support
Other Income
Government grants
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Pensions
Rent and utilities
Insurance
Telephone
Postage and stationery
Events
Marketing
Direct costs
Associates fees
Travelling
Computer costs
Repairs and renewals
Sundry
Carried forward		 31.3.21
£
2,947
25,396
28,343
1,710
886
-
18,526
7,346
26,929
146,270
50,618
252,285
843,586
698,630
1,902,270
3,444,486
273,470
3,998,584
2,726,015
40,830
118,304
12,678
13,252
13,751
-
43,284
111,086
21,581
16,932
32,722
100,991
14,765
3,266,191		 31.3.20
£
11,967
-
11,967
6,765
31,280
21,382
9,717
15,288
25,360
137,800
95,491
343,083
851,855
614,802
1,413,868
2,880,525
-
3,235,575
2,316,531
36,563
102,463
14,047
11,088
12,659
18,086
16,037
179,121
48,657
27,699
19,503
28,086
20,685
2,851,225

This page does not form part of the statutory financial statements

Page 22

MY LIFE LEGACY

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

Charitable activities
Brought forward
Consultancy fees
Accountancy
Bank charges
HR & finance
Training
Fixtures and fittings
Bank loan interest
Total resources expended
Net income		 31.3.21
£
3,266,191
4,186
7,500
3,045
436,862
20,183
66,986
1,623
3,806,576
3,806,576
192,008		 31.3.20
£
2,851,225
12,005
6,600
2,304
245,417
3,844
52,979
1,582
3,175,956
3,175,956
59,619

This page does not form part of the statutory financial statements

Page 23