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2023-03-31-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 2023

FOR

MY LIFE LEGACY (A COMPANY LIMITED BY GUARANTEE)

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

MY LIFE LEGACY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 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 2023

My Life Legacy was formed initially in 2012 as a Community Interest Company and converted into a Charity in July 2016. These accounts are for our seventh year as a Charity.

Report of the Chair of Trustees

The year that ended in March 2023 presented some challenges for our Members, staff and the Charity as a whole, but the Charity was able to overcome those challenges and to move forward positively. We faced, like many Charities, the aftermath of the pandemic and then coped with a less than positive OFSTED Inspection. We ended the year stronger as a Charity than we entered it.

In May 2022 we received a poor OFSTED Inspection for My Life Learning, in part triggered by a safeguarding concern that subsequently did not pass the threshold for the local authority to action further. OFSTED were willing to work with us but unfortunately not Wigan Council, and the effect of this was that we had to close My Life Learning. We did of course, support the learners into new provision (some of which was our own), most for many weeks, and received much praise and many thanks from them.

Wigan Council conducted a 'Review' of our Life Opportunities services. This took many weeks for the Council to complete. The outcome was that our services were acknowledged to be good. Indeed, the Wigan Director of Adult Services wrote to us at the conclusion of their Review saying that My Life was providing, "the brilliant person centred support you've always delivered."

A little after this, in November 2022, we had a professional inspection by the Care Quality Commission. They said that the overall service provided by My Life was Good; was it safe - yes, it was good; was it effective - yes, it was good; was it caring - yes, it was good; was it responsive - yes, it was good; was it well led - yes, it was good. This validation was very heartening for our Members and staff.

For the year too, along with all parts of the care sector recruitment of staff was very difficult, and enormous energies went into attracting the right staff who could give person centred support for our Members. Those issues continue to affect us as they do every provider of care in the country. Our retention rate of staff is far better than the national average which is encouraging.

Throughout this year, even against the backcloth of these difficulties, we continued to look forward. We took a long lease of Thompson House Farm at Standish, a lease that includes the Equestrian Centre, and this secures the Charity's future on its Standish base. The reduction in activity from the run down of My Life Learning was more than offset by a significant growth in My Life Support, and we also invested more in the training and development of our staff. A new venture, My Life Works, commenced from Harlor House in Standish, which gives opportunities for work experience and a wider range of life skills.

So, a year of some challenges but one when the Charity still made real progress, grew its services and sustained the quality that it is renowned for.

Steve Jones CBE Chair of the Board of Trustees

09/12/2023

Page 1

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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 4 sites, an 84 acre Eco/Equestrian Centre in Standish, Leigh Sports Village, Harlor House 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 2023

Objectives and activities

Significant activities

My Life Legacy has been working hard over this year to bring the activity back to some kind of 'ordinary' post the pandemic. The impact on many people we work with, including the workforce, has been significant in terms of mental health and confidence to be with others. We have had to work extremely hard to encourage, support and create opportunities which enable every individual to feel safe with the space and opportunity we provide. The people we support at home through My Life Support have needed a lot of additional support and confidence to encourage wider access to the community.

My Life Learning had a difficult year with the regulator Ofsted who had completed two monitoring visits in 2021. They had concerns about the site being so close to public walkways and felt this posed a safeguarding risk, despite the separation of fencing they felt this was inadequate. We invested significantly in terms of putting up anti-climb fencing, conifers to detract from view, 2 new classrooms and separated My Life Learning from the rest of the site. We appointed two independent external consultants, previous Ofsted inspectors, to guide us.

The visit in November 2021 concluded progress was being made, however at Christmas 2021 our Head of Learning and Deputy Head resigned. We appointed a member of staff internally, as an interim measure, as we knew Heads and Deputies were hard to appoint, especially with the skills we required. We strived for continuous improvement but finding tutors with the appropriate skills was difficult. In May 2022, we had our first formal Ofsted inspection; we were deemed inadequate. The inspectors were supportive, and we quickly developed a clear and concise action plan. Unfortunately, it was decided, without full consultation with students, families and any other bodies to withdraw funding for My Life Learning, which impacted on the continuation of funding from the Education and Skills Funding Agency. This caused huge distress to families as My Life Learning was to cease and families were informed on the day before the summer holidays 2022. We developed a full transition process to support the closure of My Life Learning at the end of October 2022. The outcome was that several students did eventually move on, but we retained an educational pathway until Easter 2023 working very closely with Wigan Council, with one student never actually leaving. We had to navigate through redundancies for My Life Learning staff which was hugely stressful and disconcerting for the whole workforce. We also had Adult Social Care scrutinising the organisation which concluded in a positive outcome, and they recognised positive outcomes for all who accessed My Life Legacy.

This evidently impacted financially on the organisation throughout 2022/23. We had to make some very difficult decisions as our flagship site at Thompson House was going on the market too. We decided to open up My Life Works at Harlor House which would give us a 'fall back' position in the worst case scenario. This did have a financial impact, however we decided to mitigate the risk and relocate My Life Support to Harlor House giving us freedom of rent at Smithy Court.

To enable us to purchase our flagship site, we had successfully raised funds through 'Charity Bank' to purchase the property at Thompson House Equestrian Centre; this looked very promising. However, our landlord decided to sell to his sister, on the final hour, and so we had the first option of a long term lease. We took over the full site officially in November 2022 but had the operational running responsibility from June 2022 which gave us an excellent opportunity to build the business from its 'nil' post pandemic state, on a free rental basis.

Despite a hugely challenging year we have created some amazing opportunities on our sites, in peoples own homes and for our community. This has included supporting individuals to make a transition from long term stay in hospital to their own home in a community of their choice. This has taken an enormous amount of time but the outcomes for these individuals has been significant. The Life Opportunities across all three sites has increased and we have concentrated on reviewing each individual, ensuring we understand their dreams, goals and aspirations and giving them more opportunities to reach their goals.

We hosted a big 4 day carnival/festival for the Queen's Platinum Jubilee attracting over 8000 people to the site and raising over £30,000 for the charity. We hosted our 10 year anniversary from our launch, around my kitchen table in 2012, attracting 250 people. We hosted our first ICE event in Lincolnshire at Butlins which was bequeathed to us from a dear My Life friend, Wendy Adams, who died from Covid in 2020. This had to be cancelled several times due to the pandemic but eventually we hosted in September 2022, attracting over 150 people for the week from Lincolnshire and Lancashire. Our Halloween event was even more popular than ever - all of these activities have contributed to positivity across the workforce.

We have supported thousands of people to achieve great things and build confidence post the pandemic, including all the work My Life Legacy delivers, as well as hosting training for various Parent Carer Forums across the North West.

Critically the charity has learned from this last year and has developed its thinking in terms of business planning for the future. We are positive about the future and will develop many opportunities for everyone My Life works with, to achieve great things.

Strategic report

Page 3

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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.

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.

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.

Page 4

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management 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 (resigned 10.8.22) Kevin Massey Mr Michael Nuttall Ms Kay Heath

Auditors

NRB 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 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

Page 5

MY LIFE LEGACY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Statement of trustees' responsibilities - continued

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, NRB, 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 ............................................. and signed on the board's behalf by:

........................................................................

Mrs Caroline Tomlinson - Trustee

08/12/2023

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 2023 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'.

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:

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:

Page 7

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

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.

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.

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 directors 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 our 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, 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 directors 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 NRB 1st Floor Waterside House Waterside Drive Wigan Lancashire WN3 5AZ 11/12/2023 Date: .............................................

Page 9

MY LIFE LEGACY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
3
15,233
Charitable activities
5
Day Opportunities
1,283,149
SEND
726,454
MyLife Support
2,948,167
Other charitable activities
4
611,303
Other Income
-
Total
5,584,306
EXPENDITURE ON
Charitable activities
6
Training, support and activities
5,421,634
NET INCOME/(EXPENDITURE)
162,672
Transfers between funds
17
3,006
Net movement in funds
165,678
RECONCILIATION OF FUNDS
Total funds brought forward
453,374
TOTAL FUNDS CARRIED
FORWARD
619,052		 Restricted
fund
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
(3,006)
(3,006)
3,006
-		 31.3.23
Total
funds
£
15,233
1,283,149
726,454
2,948,167
611,303
-
5,584,306
5,421,634
162,672
-
162,672
456,380
619,052		 31.3.22
Total
funds
£
76,702
995,887
894,925
2,461,011
286,667
69,810
4,785,002
4,990,844
(205,842)
-
(205,842)
662,222
456,380

The notes form part of these financial statements

Page 10

MY LIFE LEGACY

BALANCE SHEET 31 MARCH 2023

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
10
524,001
CURRENT ASSETS
Debtors
11
360,146
Cash at bank and in hand
470,775
830,921
CREDITORS
Amounts falling due within one
year
12
(696,570)
NET CURRENT ASSETS
134,351
TOTAL ASSETS LESS
CURRENT LIABILITIES
658,352
CREDITORS
Amounts falling due after more
than one year
13
(39,300)
NET ASSETS
619,052
FUNDS
17
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 Restricted
funds
£
-
-
-
-
-
-
-
-
-		 31.3.23
Total
funds
£
524,001
360,146
470,775
830,921
(696,570)
134,351
658,352
(39,300)
619,052
619,052
-
619,052		 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

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 ............................................. and were signed on its behalf by:

.............................................

Mrs Caroline Tomlinson - Trustee

08/12/2023

The notes form part of these financial statements

Page 11

MY LIFE LEGACY

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

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 (used in)/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		 31.3.23
£
58,942
(1,116)
57,826
(44,214)
(44,214)
-
(10,000)
(6,400)
(16,400)
(2,788)
473,563
470,775		 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

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 2023

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

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest paid
(Increase)/decrease in debtors
(Decrease)/increase in creditors
Net cash provided by operations
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		 31.3.23
£
162,672
110,946
1,116
(50,946)
(164,846)
58,942
31.3.23
£
440
470,335
-
470,775		 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

2. ANALYSIS OF CASH AND CASH EQUIVALENTS

3. ANALYSIS OF CHANGES IN NET FUNDS

Net cash At 1.4.22
£		 Cash flow
£		 At 31.3.23
£
Cash at bank and in hand 478,282 (7,507) 470,775
Bank overdraft (4,719) 4,719 -
473,563 (2,788) 470,775
Debt
Finance leases (22,933) 6,400 (16,533)
Debts falling due within 1 year (10,000) - (10,000)
Debts falling due after 1 year (39,167) 10,000 (29,167)
(72,100) 16,400 (55,700)
Total 401,463 13,612 415,075

The notes form part of these financial statements

Page 13

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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.

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.

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.

Page 14

continued...

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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

----- Start of picture text -----
||||| |---|---|---|---| |31.3.23|31.3.22| |£|£| |Donations|(3,633)|10,141| |Grants and funding|18,866|66,561| |15,233|76,702| |4.|OTHER CHARITABLE ACTIVITIES| |31.3.23|31.3.22| |£|£| |Membership fees|837|1,184| |Events|142,843|16,550| |Training - skills for care|4,550|7,450| |Merchandise sales|11,124|14,444| |Other|226,671|26,431| |Respite|36,067|77,018| |Advocacy|8,800|40,750| |Cafe and kitchen|180,411|102,840| |611,303|286,667| |5.|INCOME FROM CHARITABLE ACTIVITIES| |31.3.23|31.3.22| |Activity|£|£| |Day opportunities|Day Opportunities|1,283,149|995,887| |SEND (My Life Learning)|SEND|726,454|894,925| |MyLife Support|MyLife Support|2,948,167|2,461,011| |4,957,770|4,351,823|

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

6. CHARITABLE ACTIVITIES COSTS

----- Start of picture text -----
||| |---|---| |Direct| |Costs| |£| |Training, support and activities|5,421,634|

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

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continued...

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

7. NET INCOME/(EXPENDITURE)

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

----- Start of picture text -----
|||| |---|---|---| |31.3.23|31.3.22| |£|£| |Depreciation - owned assets|110,946|94,031| |Other operating leases|218,132|137,368|

----- 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 £65,120 (2022 £60,000).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

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

9. STAFF COSTS

----- Start of picture text -----
|||| |---|---|---| |31.3.23|31.3.22| |£|£| |Wages and salaries|3,638,581|3,413,135| |Other pension costs|57,372|58,430| |3,695,953|3,471,565| |The average monthly number of employees during the year was as follows:| |31.3.23|31.3.22| |Management|1|1| |Finance|4|3| |Charity administration and activities|152|177| |157|181|

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

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

----- Start of picture text -----
|||| |---|---|---| |31.3.23|31.3.22| |£60,001 - £70,000|1|-|

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

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continued...

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

10. TANGIBLE FIXED ASSETS

Fixtures
and
fittings
£
COST
At 1 April 2022
871,057
Additions
44,214
At 31 March 2023
915,271
DEPRECIATION
At 1 April 2022
315,844
Charge for year
105,186
At 31 March 2023
421,030
NET BOOK VALUE
At 31 March 2023
494,241
At 31 March 2022
555,213
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other 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
13.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 14)
Hire purchase (see note 15)		 Motor
vehicles
£
38,400
-
38,400
2,880
5,760
8,640
29,760
35,520
31.3.23
£
273,676
892
85,578
360,146
31.3.23
£
10,000
6,400
223,241
53,169
27,414
-
376,346
696,570
31.3.23
£
29,167
10,133
39,300		 Totals
£
909,457
44,214
953,671
318,724
110,946
429,670
524,001
590,733
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
31.3.22
£
39,167
16,533
55,700

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continued...

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

14. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£ £
Amounts falling due within one year on demand:
Bank overdrafts - 4,719
Bank loans 10,000 10,000
10,000 14,719
Amounts falling between one and two years:
Bank loans - 1-2 years		 29,167 39,167

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
SECURED DEBTS
The following secured debts are included within creditors:
Bank loans
Hire Purchase
MOVEMENT IN FUNDS
Net
movement
At 1.4.22
in funds
£
£
Unrestricted funds
General fund
453,374
162,672
Restricted funds
Restricted
3,006
-
TOTAL FUNDS
456,380
162,672		 Hire purchase contracts
31.3.23
31.3.22
£
£
6,400
6,400
10,133
16,533
16,533
22,933
Non-cancellable
operating leases
31.3.23
31.3.22
£
£
40,000
40,000
120,000
120,000
140,000
140,000
300,000
300,000
31.3.23
31.3.22
£
£
39,167
49,167
-
22,933
39,167
72,100
Transfers
between
At
funds
31.3.23
£
£
3,006
619,052
(3,006)
-
-
619,052

16. SECURED DEBTS

17. MOVEMENT IN FUNDS

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continued...

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

17. MOVEMENT IN FUNDS - continued

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

Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 At 1.4.21
£
654,497
7,725
662,222		 Incoming
resources
£
5,584,306
5,584,306
Net
movement
in funds
£
(205,842)
-
(205,842)		 Resources
expended
£
(5,421,634)
(5,421,634)
Transfers
between
funds
£
4,719
(4,719)
-		 Movement
in funds
£
162,672
162,672
At
31.3.22
£
453,374
3,006
456,380

Comparative net movement in funds, included in the above are as follows:

Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
4,785,002
(4,990,844)
TOTAL FUNDS
4,785,002
(4,990,844)
A current year 12 months and prior year 12 months combined position is as follows:
Net
Transfers
movement
between
At 1.4.21
in funds
funds
£
£
£
Unrestricted funds
General fund
654,497
(43,170)
7,725
Restricted funds
Restricted
7,725
-
(7,725)
TOTAL FUNDS
662,222
(43,170)
-		 Movement
in funds
£
(205,842)
(205,842)
At
31.3.23
£
619,052
-
619,052

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continued...

MY LIFE LEGACY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

17. MOVEMENT IN FUNDS - continued

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
TOTAL FUNDS		 Incoming
Resources
resources
expended
£
£
10,369,308
(10,412,478)
10,369,308
(10,412,478)		 Movement
in funds
£
(43,170)
(43,170)

18. RELATED PARTY DISCLOSURES

During the period the charity was invoiced for services provided by Alocura Limited, a company in which two trustees are directors, totalling £697,838 (2022 - £583,867). There was a balance due to Alocura Limited as at 31 March 2023 of £178,899 (2022 - £144,891).

Page 20

MY LIFE LEGACY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants and funding
Other charitable 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
Bad debts
HP Interest
Fixtures and fittings
Carried forward		 31.3.23
£
(3,633)
18,866
15,233
837
142,843
4,550
11,124
226,671
36,067
8,800
180,411
611,303
1,283,149
726,454
2,948,167
4,957,770
-
5,584,306
3,638,581
57,372
218,132
25,759
41,754
16,802
4,279
42,007
181,795
45,659
57,196
32,826
119,255
103,393
16,644
9,069
7,339
669,673
25,678
(5,031)
1,390
110,946
5,420,518		 31.3.22
£
10,141
66,561
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
-
333
94,031
4,989,716

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 2023

Charitable activities
Brought forward
Bank loan interest
Total resources expended
Net income/(expenditure)		 31.3.23
£
5,420,518
1,116
5,421,634
5,421,634
162,672		 31.3.22
£
4,989,716
1,128
4,990,844
4,990,844
(205,842)

This page does not form part of the statutory financial statements

Page 22