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2022-03-31-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 2022

FOR

MY LIFE LEGACY (A COMPANY LIMITED BY GUARANTEE)

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

MY LIFE LEGACY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page
Report of the Trustees 1 to 5
Report of the Independent Auditors 6 to 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Cash Flow Statement 13
Notes to the Financial Statements 14 to 20
Detailed Statement of Financial Activities 21 to 22

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

My Life Legacy was formed initially in 2012 as a CIC and converted into a charity in July 2016. These accounts are for our sixth 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 2022 has been very challenging for the Charity, but it has come through continuing difficult times and is still able to provide quality personalised care and support for its Members.

Covid-19 had not gone away and throughout the year affected everyone - our Members, staff, and their friends and families. Our staff have coped exceptionally well with the forced absences of their colleagues, doing extra shifts, and filling in when people were ill or self-isolating. At the same time there has been an intensifying national recruitment crisis in care, and whilst we have a much better retention rate than the sector as a whole, we have struggled to secure the number and quality of staff ideally needed.

We have a 'Peripatetic' team who have filled gaps and many colleagues have been wonderfully flexible when the need has arisen. Throughout, the feedback from our Members and their families and friends has been almost wholly positive about the care and support we have been able to offer.

Those recruitment problems were not confined to care and support but included educators for My Life Learning, and we were unable to recruit a Headteacher for this part of our service. This in large part affected the poor OFSTED monitoring visit we received, which was a disappointment to us.

Covid-19 issues affected funders and statutory bodies as well, and was one of the reasons that they were less able to give timely responses to requests to recognise changing circumstances. This is an increasing problem as Members' needs can and do change and the nature of the support they require (and the necessary funding) also changes. We have been guided throughout by what is in the best interests of the Member who is always at the centre of what we do.

My Life, however, has not lost its positive attitude and we took the lease of an additional property, Harlor House in Standish, to establish My Life Works, a venture to give our Members real work experiences and opportunities, to help them progress and hopefully require less of our care and support as they grow.

We have also invested in more Training and Development for our staff, and completed significant upgrading works on our main Standish site. Whilst the Charity has needed to consolidate its activities it has not stood still.

To cope with these pressures whilst still making improvements has meant that we have used a considerable portion of our reserves which will need now to gradually be replenished.

So, a difficult year with some of those challenges continuing into the new financial year, but My Life will be 10 years old at the beginning of next year, and we have much to celebrate when we look back at the journey the Charity has been on, and the now hundreds of people whose lives we have been able to change and improve.

Steve Jones Chairman

Page 1

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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.

Significant activities

Many of the charities activities have returned to pre-covid status across Life Opportunities, My Life Learning and My Life Support. This includes some of most vulnerable individuals having a phased return back to our sites and us to their homes under My Life Support.

Supporting and encouraging individuals to return to the sites, has been a significant piece of work. Encouraging every individual to build trust and ensuring they are in an environment which keeps them safe from Covid should not be underestimated. Equally we have had to support our staff team through this transitional phase too. Fortunately, the Standish site has been excellent as access to a lot of outdoor space and fresh air. The Leigh site has had to have different adjustments as it is a room within a building.

To enable the charity to provide support to many individuals returning, recruitment has been a key priority. We have relaunched the Pathways to Employment that has enabled us to find potential new employees. Recruiting people to work in the sector has become increasingly challenging due to the pandemic, however there are individuals who do wish to move to this line of work and feel that they are making a difference.

My Life Learning has been an area of concern for recruitment as employing experienced tutors and the lead up from appointment to start date is significant. This has been difficult as we are not competitive against statutory tutor roles due to the funding received. We are working hard to meet the aspirations of our young people and My Life Works at Harlor House is offering that next step towards meaningful occupation and or employment.

We continue to invest in our biggest asset, our staff team, and have worked extremely hard to keep everyone positive post covid. We have developed a Training and Development team based at Harlor House who ensure all of our staff are inducted to the organisation, have access to all mandatory and person centred training to ensure they meet the competence levels required to do their job across the organisation. We continue to work with all our staff through 1-1 and appraisals to ensure they are supported on their career pathway and have access to the continual professional development required. Safeguarding remains a key investment for the Charity along with investment in Training and Development.

We have started to deliver other opportunities such as 'Orchard Life' for young children as there has been a significant impact of children being unable to mix due to Covid. The outdoor experience has proven popular and been welcomed by local families. The impact Covid has had on the mental health of many people has been quite significant. In response we have developed an empowerment course using horses. The outcome of this programme over 5 consecutive weeks was evident in building confidence, trust, new friendships, and support.

Our opportunity to host events is becoming a reality post Covid and we were delighted to bring back our ever popular Halloween Event at the Standish site. More events are planned for the summer of 2022.

Page 2

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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.

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 3

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

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 (resigned 21.7.22) Steve Noonan Susan Johnson Sarah Wilson (appointed 26.5.21) (resigned 13.7.21) Kevin Massey Mr Michael Nuttall (appointed 22.9.21) Ms Kay Heath (appointed 22.9.21)

Auditors

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

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

Page 4

Standard applicable in the UK and Republic of Ireland"

Page 4

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Statement of trustees' responsibilities - continued

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 Limited, 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 18 November 2022 and signed on the board's behalf by:

Mrs Caroline Tomlinson - Trustee

Page 5

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 2022 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 6

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 7

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.

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

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.

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.

We identified areas of laws and regulations that could reasonable be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the Trustees and other management (as required by auditing standards), and from inspection of the charity's regulatory and legal correspondence and discussed with the trustees and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout out team and remained alert to any indications of non-compliance throughout the audit.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the charity is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation, pensions legislation and taxation legislation,OFSTED and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

Secondly, the charity is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: GDPR compliance, health and safety and product liability, anti-bribery and corruption, employment law, tax, environmental legislation, recognising the nature of the charities activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. These limited procedures did not identify actual or suspected non-compliance.

Owing to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 8

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 Limited

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

18 November 2022

Page 9

MY LIFE LEGACY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
3
76,702
Charitable activities
Training, support and activities
1
Day Opportunities
995,886
SEND
894,925
MyLife Support
2,461,011
Other trading activities
4
286,667
Other Income
69,810
Total
4,785,002
EXPENDITURE ON
Charitable activities
6
Training, support and activities
4,990,844
NET INCOME/(EXPENDITURE)
(205,842)
Transfers between funds
17
4,719
Net movement in funds
(201,123)
RECONCILIATION OF FUNDS
Total funds brought forward
654,497
TOTAL FUNDS CARRIED FORWARD
453,374		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
(4,719)
(4,719)
7,725
3,006		 31.3.22
Total
funds
£
76,702
1
995,886
894,925
2,461,011
286,667
69,810
4,785,002
4,990,844
(205,842)
-
(205,842)
662,222
456,380		 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
-
192,008
470,214
662,222

The notes form part of these financial statements

Page 10

MY LIFE LEGACY

BALANCE SHEET 31 MARCH 2022

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
10
590,733
CURRENT ASSETS
Debtors
11
309,200
Cash at bank and in hand
470,557
779,757
CREDITORS
Amounts falling due within one
year
12
(861,416)
NET CURRENT ASSETS
(81,659)
TOTAL ASSETS LESS CURRENT
LIABILITIES
509,074
CREDITORS
Amounts falling due after more
than one year
13
(55,700)
NET ASSETS
453,374
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 Restricted
funds
£
-
-
7,725
7,725
(4,719)
3,006
3,006
-
3,006		 31.3.22
Total
funds
£
590,733
309,200
478,282
787,482
(866,135)
(78,653)
512,080
(55,700)
456,380
453,374
3,006
456,380		 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

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 18 November 2022 and were signed on its behalf by:

Mrs Caroline Tomlinson - Trustee

The notes form part of these financial statements

Page 11

MY LIFE LEGACY

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022

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
Capital repayments in year
Net cash provided by financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
2
Cash and cash equivalents at the end of the
reporting period
2		 31.3.22
£
173,275
(1,128)
172,147
(295,417)
(295,417)
25,600
(5,474)
(2,667)
17,459
(105,811)
579,374
473,563		 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

The notes form part of these financial statements

Page 12

MY LIFE LEGACY

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022

1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net (expenditure)/income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Depreciation charges
Interest paid
Decrease/(increase) in debtors
Increase in creditors
Net cash provided by operations
2.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
Notice deposits (less than 3 months)
Overdrafts included in bank loans and overdrafts falling due within one year
Total cash and cash equivalents
3.
ANALYSIS OF CHANGES IN NET FUNDS		 31.3.22
£
(205,842)
94,031
1,128
116,856
167,102
173,275
31.3.22
£
434
477,848
(4,719)
473,563		 31.3.21
£
192,008
66,986
1,623
(41,942)
125,445
344,120
31.3.21
£
327
579,047
-
579,374
Net cash
Cash at bank and in hand
Bank overdraft
Debt
Finance leases
Debts falling due within 1 year
Debts falling due after 1 year
Total		 At 1.4.21
£
579,374
-
579,374
-
(6,308)
(48,333)
(54,641)
524,733		 Cash flow
£
(101,092)
(4,719)
(105,811)
(22,933)
(3,692)
9,166
(17,459)
(123,270)		 At 31.3.22
£
478,282
(4,719)
473,563
(22,933)
(10,000)
(39,167)
(72,100)
401,463

The notes form part of these financial statements

Page 13

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

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.

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.

continued...

Page 14

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued

Fund accounting

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern

After reviewing the company's forecast and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements.

3. DONATIONS AND LEGACIES

4.

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		 31.3.22
£
10,143
66,559
76,702
31.3.22
£
1,184
16,550
7,450
14,444
26,431
77,018
40,750
102,840
286,667		 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

continued...

Page 15

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

5. INCOME FROM CHARITABLE ACTIVITIES

INCOME FROM CHARITABLE ACTIVITIES
Activity
Day opportunities
Day Opportunities
SEND (My Life Learning)
SEND
MyLife Support
MyLife Support		 31.3.22
£
995,886
894,925
2,461,011
4,351,822		 31.3.21
£
843,587
698,630
1,902,270
3,444,487

6. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Training, support and activities
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Other operating leases		 31.3.22
£
94,031
137,368		 Direct
Costs
£
4,990,844
31.3.21
£
66,986
118,304

7. NET INCOME/(EXPENDITURE)

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

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 £60,000 (2021 £62,389).

Trustees' expenses

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

9. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Management
Costs of generating voluntary income
Finance
Charity administration and activities		 31.3.22
£
3,413,135
58,430
3,471,565
31.3.22
1
-
3
177
181		 31.3.21
£
2,726,015
40,830
2,766,845
31.3.21
1
3
3
131
138

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

continued...

Page 16

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

10. TANGIBLE FIXED ASSETS

COST
At 1 April 2021
Additions
At 31 March 2022
DEPRECIATION
At 1 April 2021
Charge for year
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021
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)
Hire purchase (see note 15)
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income		 Fixtures
and
fittings
£
614,040
257,017
871,057
224,693
91,151
315,844
555,213
389,347		 Motor
vehicles
£
-
38,400
38,400
-
2,880
2,880
35,520
-
31.3.22
£
253,370
55,830
309,200
31.3.22
£
14,719
6,400
276,706
62,364
37,446
(3,698)
472,198
866,135		 Totals
£
614,040
295,417
909,457
224,693
94,031
318,724
590,733
389,347
31.3.21
£
385,298
40,758
426,056
31.3.21
£
6,308
-
128,967
52,630
-
156,534
339,783
684,222

continued...

Page 17

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

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

Bank loans (see note 14)
Hire purchase (see note 15)
14.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
15.
LEASING AGREEMENTS
Minimum lease payments fall due as follows:
Net obligations repayable:
Within one year
Between one and five years
Within one year
Between one and five years
In more than five years
16.
SECURED DEBTS
The following secured debts are included within creditors:
Bank loans
Hire Purchase		 31.3.22
31.3.21
£
£
39,167
48,333
16,533
-
55,700
48,333
31.3.22
31.3.21
£
£
4,719
-
10,000
6,308
14,719
6,308
39,167
48,333
Hire purchase contracts
31.3.22
31.3.21
£
£
6,400
-
16,533
-
22,933
-
Non-cancellable
operating leases
31.3.22
31.3.21
£
£
40,000
40,000
120,000
120,000
140,000
140,000
300,000
300,000
31.3.22
31.3.21
£
£
49,167
54,641
22,933
-
72,100
54,641

continued...

Page 18

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

17. MOVEMENT IN FUNDS

Net
movement
At 1.4.21
in funds
£
£
Unrestricted funds
General fund
654,497
(205,842)
Restricted funds
Restricted
7,725
-
TOTAL FUNDS
662,222
(205,842)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
4,785,002
TOTAL FUNDS
4,785,002
Comparatives for movement in funds
At 1.4.20
£
Unrestricted funds
General fund
465,495
Restricted funds
Restricted
4,719
TOTAL FUNDS
470,214
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
3,995,578
Restricted funds
Restricted
3,006
TOTAL FUNDS
3,998,584
Transfers
between
funds
£
4,719
(4,719)
-
Resources
expended
£
(4,990,844)
(4,990,844)
Net
movement
in funds
£
189,002
3,006
192,008
Resources
expended
£
(3,806,576)
-
(3,806,576)
At
31.3.22
£
453,374
3,006
456,380
Movement
in funds
£
(205,842)
(205,842)
At
31.3.21
£
654,497
7,725
662,222
Movement
in funds
£
189,002
3,006
192,008


continued...

Page 19

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

17. 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
Restricted
TOTAL FUNDS		 At 1.4.20
£
465,495
4,719
470,214		 Net
movement
in funds
£
(16,840)
3,006
(13,834)		 Transfers
between
funds
£
4,719
(4,719)
-		 At
31.3.22
£
453,374
3,006
456,380

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
Restricted
TOTAL FUNDS		 Incoming
resources
£
8,780,580
3,006
8,783,586		 Resources

expended
£
(8,797,420)
-
(8,797,420)
Movement

in funds
£
(16,840)
3,006
(13,834)

18. RELATED PARTY DISCLOSURES

During the period the charity was invoiced for services provided by Alocura Limited, a company in which trustees are directors, totalling £583,867 (2021 - £474,528). There was a balance due to Alocura Limited as at 31 March 2021 of £144,891 (2021 - £46,372).

Page 20

MY LIFE LEGACY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

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
Consultancy fees
Accountancy
Bank charges
HR & finance
Training
Carried forward		 31.3.22
£
10,143
66,559
76,702
1,184
16,550
7,450
14,444
26,431
77,018
40,750
102,840
286,667
995,887
894,925
2,461,011
4,351,823
69,810
4,785,002
3,413,135
58,430
137,368
16,769
27,478
15,264
8
54,965
188,826
55,535
45,659
40,563
177,351
23,865
57,866
9,750
5,564
547,803
19,153
4,895,352		 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
4,186
7,500
3,045
436,862
20,183
3,737,967

This page does not form part of the statutory financial statements

Page 21

MY LIFE LEGACY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Charitable activities
Brought forward
HP Interest
Fixtures and fittings
Bank loan interest
Total resources expended
Net (expenditure)/income		 31.3.22
£
4,895,352
333
94,031
1,128
4,990,844
4,990,844
(205,842)		 31.3.21
£
3,737,967
-
66,986
1,623
3,806,576
3,806,576
192,008

This page does not form part of the statutory financial statements

Page 22