COMPANY REGISTRATION NUMBER: 04127838 CHARITY REGISTRATION NUMBER: 1168372
## **SAFE REGENERATION LTD**
## **COMPANY LIMITED BY GUARANTEE**
## **FINANCIAL STATEMENTS**
## **31 MARCH 2022**
## **HARGREAVES & WOODS**
Chartered Accountants Cholmondeley House Dee Hills Park Chester CH3 5AR
1
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
||**Page**|
|---|---|
|Trustees’ annual report (incorporating the director’s report)|1-4|
|Independent examiner’s report to the trustees|5|
|Statement of financial activities (including income and expenditure account)|6|
|Statement of financial position|7|
|Notes to the financial statements|8-24|
1
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTORS REPORT) YEAR ENDED 31 MARCH 2022**
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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 the Republic of Ireland (FRS 102)(effective 1 January 2019).
## **Reference and administrative details**
|**Registered charity name**|Safe Regeneration Ltd|
|---|---|
|**Charity registration number**|1168372|
|**Company registration number**|04127838|
|**Principal office and registered**|St Marys Complex|
|**office**|Waverley Street|
||Bootle|
||Merseyside|
||L20 4AP|
||England|
|**The Trustees**|Mrs J M Ellis|
||Ms H E Summer|
||Mrs K E Traynor|
||Mr M J Brennan|
||Mr M Walker|
||Mr I E Pollitt|
|**Senior Management**|Mr B Dawe Chief Executive Officer|
|**Independent Examiner**|JA Hargreaves FCA|
||Cholmondeley House|
||Dee Hills Park|
||Chester|
||Cheshire|
||UK|
||CH3 5AR|
|**Solicitor**|Excello Law|
||1 Derby Square|
||Liverpool|
||L2 9XX|
1
## **SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTORS REPORT) YEAR ENDED 31 MARCH 2022**
## **Structure, governance and management**
Safe Regeneration Limited was incorporated in 2000 as Liverpool Safe Productions Limited. The name was changed in May 2015 to Safe Regeneration Limited. The governing documents are the Memorandum and Articles of Association which were revised in June 2016. Safe Regenerations Limited (‘the charity’) was registered as a charity on 21 July 2016.
The charity’s policy in respect of the recruitment, appointment and induction of trustees aims to strike a balance between local representation whilst ensuring the necessary skills are present to allow the board to carry out its duties and responsibilities. This is an ongoing review process. The Chief Executive Officer is responsible for the induction and training process for new trustees.
## **Objectives and activities**
The charity delivers a range of community led projects designed to deliver social, economic and environmental benefits to the neighbourhood and residents of Bootle.
Key activities during the year included:
Provision of business enterprise support to start up businesses through the Safe Hub.
Participatory arts programmes and community – based landscape programmes
Development of an apprenticeship programme to help young people in the area back into the work environment.
#destinationBootle – on going work in respect of the capital development project for the area which aims to deliver affordable housing and improved community space
The trustees have given careful consideration to the Charity Commission’s guidance on public benefit and are satisfied that the activities undertaken meet this criteria.
## **Subsidiary Company**
123 Accommodation CIC was established in 2014. The principal activity of the company during the year comprised the undertaking of a building project on and around St Mary’s Complex in Bootle, Liverpool which is being funded by local authority/government- #destinationBootle. During the year the company applied for planning permission which was refused. Post the year end, an appeal against the decision was also refused. The company is seeking advice as to a further appeal. The company also owns a community pub – the Lock & Quay, which is a community venue and holds events and activities to engage the local community.
2
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTORS REPORT) YEAR ENDED 31 MARCH 2022**
## **Strategic report**
The following sections for achievements and performance and financial review form the strategic report of the charity.
## **Achievements and performance**
## **Impact of Covid – 19**
Although the pandemic continued to have some impact on the operations of the organization during the year, particularly the Lock & Quay, the trustees remain confident that, as a result of funding secured for future and current projects, the group remains financially viable and able to move forward with its plans.
## **Financial review**
The total income for the year was £558,627 (2021 £491,493). The deficit for the year was £118,961 (2021 £30,418).
Total funds were £155,413 as at the year-end (2021 £274,374) of which £10,272 was restricted (2021 £151,186).
## **Reserves policy**
The trustees are reviewing their reserves policy in light of the changing nature of the activities in which the charity engages and the outcome of the #destinationBootle project is determined. The policy will take into account the risks facing the group and will seek to ensure that adequate unrestricted funds are retained in the group going forwards to protect against unexpected events and issues.
## **Risk management**
The trustees review the risks that they consider are pertinent to the operations of the group on a regular basis. Once a risk is identified and discussed, actions are taken to assign relevant staff members with responsibility for any mitigating actions if appropriate.
The risk register is monitored on a regular basis.
3
## **SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT (INCORPORATING THE DIRECTORS REPORT) YEAR ENDED 31 MARCH 2022**
## **Risk Management (continued)**
The main risk that the trustees consider is relevant to the operations of the group are risk over withdrawal of funding for projects. To mitigate this the charity has sought to diversify its activities as far as possible to ensure that any loss of support does not cause significant damage to the operations.
Other risks include changes to Government policies and regulatory issues which may adversely affect the charitable sector.
## **Plans for the future**
Activities at the SAFE Hub continue to prosper with interesting opportunities for project work being presented.
The trustees are confident that the #destinationBootle capital project will continue to move forward despite set backs with planning. Although initial plans were rejected the trustees are working to revisit the plans and they are confident that consent can be achieved.
The activities at the Lock & Quay resume as the lockdown is lifted and a Bootle Music Festival is being planned for next year.
## **Small Company Provisions**
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report and the strategic report were approved on 5[th] December 2022 and signed on behalf of the board of trustees by:
## **Mrs J M Ellis Director**
4
## **SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SAFE REGENERATION LTD YEAR ENDED 31 MARCH 2022**
I report to the trustees on my examination of the financial statements of Safe Regeneration Ltd (‘the charity’) for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’) and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act.
## **Independent examiner’s statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
J A Hargreaves FCA Independent Examiner Hargreaves & Woods Cholmondeley House Dee Hills Park Chester CH3 5AR
5
## **SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME & EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2022**
|**Note**
**Income & endowments from:**
Donations & grant income
5
Charitable activities
6
Total income
**Expenditure:**
Expenditure on charitable
activities
7 & 8
Other expenditure
10
**Net income /(expenditure)**
Transfer between funds
25
**Net movements in funds**
**Reconciliation of funds**
Total funds brought forward
25
**Total funds carried forward**
25|**Unrestricted**
**Funds**
**£**
35,000
126,398
161,398
151,568
-
151,568
9,830
12,123
21,953
123,188
145,141|**Restricted**
**Funds**
**£**
345,755
51,474
397,229
526,020
-
526,020
(128,791)
(12,123)
(140,914)
151,186
10,272|**2022**
**Total**
**£**
380,755
177,872
558,627
677,588
-
677,588
(118,961)
-
(118,961)
274,374
155,413|**2021**
**Total**
**£**
429,347
62,146|
|---|---|---|---|---|
|||||491,493|
|||||521,911
-|
|||||521,911|
|||||(30,418)|
|||||-|
|||||(30,418)
304,792|
|||||274,374|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities. The funds comprise unrestricted and restricted funds.
The notes on pages 10 to 27 form part of these financial statements
6
## **SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL POSITION YEAR ENDED 31 MARCH 2022**
|**Note**
**Fixed Assets**
Tangible assets
18
Investments in subsidiaries
19
**Current Assets**
Debtors
20
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
21
**Net Current Assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after**
**more than one year**
22
**Net Assets**
**Total Funds**
Restricted funds
25
Unrestricted funds
25|**Company**
**2022**
**£**
319,975
100
320,075
42,797
50,421
93,218
(40,727)
52,491
372,566
(217,153)
155,413
10,272
145,141
155,413|**Company**
**2021**
**£**
320,082
100|
|---|---|---|
|||320,182|
|||111,840
95,900|
|||207,740
(23,798)|
|||183,942|
|||504,124
(229,750)|
|||274,374|
|||151,186
123,188|
|||274,374|
For the year ended 31 March 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director’s responsibilities:
- The members have not required the Company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statement.
These financial statements have been prepared in accordance with the provisions applicable to Companies subject to the small companies’ regime.
These financial statements were approved by the board of trustees and authorised for issue on 5[th] December 2022, and are signed on behalf of the board by:-
Mrs J M Ellis Director
The notes on pages 10 to 27 form part of these financial statements
7
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **1. General Information**
The charity is a public benefit entity and a private company limited by guarantee, incorporated in England and Wales and a registered charity in England and Wales. The address of the registered office is St Marys Complex, Waverley Street, Bootle, Merseyside, L20 4AP, England.
## **2. Statement of Compliance**
These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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 2019), Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), (Charities SORP (FRS 102)) and the Companies Act 2006.
## **3. Accounting Policies**
## **Basis of Preparation**
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## **Going Concern**
These financial statements have been prepared on the going concern basis, which assumes that the charity will be able to meet all liabilities as they fall due for payment for at least the twelve-month period following the date of signing of these statements.
This is based on financial forecasts prepared and approved by the trustees.
Funding and grants have been secured to support the day-to-day activities of the charity which will ensure that the cash position of the charity will remain positive for the foreseeable period. The #destinationbootle project will only be progressed once funding has been secured and hence the trustees are carefully monitoring this position so as to not expose the group to any risk.
## **Disclosure Exemptions**
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
8
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## **Income Tax**
Safe Regeneration Limited has charitable exemption from corporation tax, and as such, none is included in the accounts.
## **Fund Accounting**
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity’s purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
## **Incoming Resources**
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
- Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
9
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **Resources Expended**
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
- Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance if the charity apportioned to charitable activities.
- Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to the activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
## **Tangible Assets**
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
## **Depreciation**
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - Not depreciated Plant and machinery - 20% straight line Fixtures and fittings - 33% straight line
Property is not depreciated on the grounds that it has been designated for redevelopment which will increase the value.
10
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **Investments**
## **Shares in Subsidiary Undertakings**
Investments in subsidiary undertakings are measured at cost less impairment.
## **Impairment of Fixed Assets**
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
## **Government Grants**
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance related conditions on the recipient, it is recognised in income only when the performance related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
## **Financial Instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
## **Defined Contribution Plans**
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
11
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **Debtors**
Short term debtors are measured at transaction price, less any impairment.
## **Creditors**
Short term creditors are measured at the transaction price.
## **4. Limited by Guarantee**
The company is limited by guarantee, and in the event of the winding up of the company the liability of each member is limited to a contribution of £1.
## **5. Donations and Grant Income**
|**. Donations and Grant Income**||||
|---|---|---|---|
|**Unrestricted**
**Funds**
**£**
Donations
15,000
Grants
20,000
35,000
**. Income from Charitable Activities**
**Unrestricted**
**Funds**
**£**
Contribution to running costs
39,367
Project income
87,031
126,398|**Restricted**
**Funds**
**£**
-
345,755
345,755
**Restricted**
**Funds**
**£**
-
51,474
51,474|**Total**
**2022**
**£**
15,000
365,755
380,755
**Total**
**2022**
**£**
39,367
138,505
177,872|**Total**
**2021**
**£**
5,000
424,347|
||||429,347|
||||**Total**
**2021**
**£**
22,879
39,267|
||||62,146|
## **6. Income from Charitable Activities**
12
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **7. Expenditure on Charitable Activities**
|Purchases
Wages & salaries
Rates & water
Light & heat
Repairs & maintenance
Insurance
Other establishment costs
Motor & travel costs
Legal & professional
Telephone
Other office costs
Interest on bank loans
Freelance costs
Marketing & advertising
Bad & doubtful debts
Depreciation
Training allowance
Subscriptions
Awards & grants
Partner fees
Expensed equipment
Use of premises/facilities
Other costs
Volunteer expenses
Accountancy fees
Other finance costs
Grant funding activities|**Unrestricted**
**£**
2,941
13,330
2,055
15,900
-
4,355
6,795
5,736
70,860
2,157
5,371
1,177
11,360
3,275
615
107
678
1,386
-
-
-
-
282
-
3,028
160
-
151,568|**Restricted**
**£**
8,798
245,086
744
-
15,370
-
3,818
13,516
65,551
-
4,480
5,588
35,734
4,834
-
-
9,204
-
4,000
96,202
6,850
2,880
-
3,301
-
64
-
526,020|**Total**
**2022**
**£**
11,739
258,416
2,799
15,900
15,370
4,355
10,613
19,252
136,411
2,157
9,851
6,765
47,094
8,109
615
107
9,882
1,386
4,000
96,202
6,850
2,880
282
3,301
3,028
224
-
677,588|**Total**
**2021**
**£**
3,637
185,860
2,443
(8,800)
2,494
5,475
5,997
2,138
91,493
2,374
4,177
7,041
58,738
17,516
-
143
99,456
-
-
-
-
-
2,880
3,330
2,830
189
32,500|
|---|---|---|---|---|
|||||521,911|
13
## **SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **8. Expenditure on charitable activity type 2022**
|Unrestricted fund
Restricted fund
Governance fund
**2021**
Unrestricted fund
Restricted fund
Governance fund|**Activities**
**undertaken**
**directly**
**£**
148,380
525,956
-
674,336
**Activities**
**undertaken**
**directly**
**£**
28,457
457,935
-
486,392|**Grant**
**Funding of**
**activities**
**£**
-
-
-
-
**Grant**
**Funding of**
**activities**
**£**
32,500
-
-
32,500|**Support**
**costs**
**£**
-
-
3,252
3,252
**Support**
**costs**
**£**
-
-
3,019
3,019|**Total**
**funds**
**£**
148,380
525,956
3,252|
|---|---|---|---|---|
|||||677,588|
|||||**Total**
**funds**
**£**
60,957
457,935
3,019|
|||||521,911|
## **2021**
## **9. Analysis of grants**
|Grants to institutions:
123 Accommodation C.I.C.|**2022**
**£**
-
-|**2021**
**£**
32,500|
|---|---|---|
|||32,500|
14
## **SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE COMPARATIVE FOR THE STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2022**
## **10. Comparative for the Statement of Financial Activities**
|Income from:
Donations and grants
Charitable Activities
Total
Expenditure on:
Charitable Activities
Other Expenditure
Total
Net Income
Transfers between funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward|**Unrestricted**
**Funds**
**£**
16,390
28,332
44,722
63,976
-
63,976
(19,254)
481
141,961
123,188|**Restricted**
**Funds**
**£**
412,957
33,814
446,771
457,935
-
457,935
(11,164)
(481)
162,831
151,186|**Total**
**2021**
**£**
429,347
62,146|
|---|---|---|---|
||||491,493|
||||521,911
-|
||||521,911|
||||(30,418)
-
304,792|
||||274,374|
## **11. Taxation**
No liability to UK Corporation Tax arose on net incoming resources for the year ended 31 March 2022 nor for the year ended 31 March 2021 for the charity.
## **12. Net income/(expenditure) for the year**
Net income/(expenditure) is stated after charging/(crediting)
|**2. Net income/(expenditure) for the year**
Net income/(expenditure) is stated after charging/(crediting)|||
|---|---|---|
||**Total**|**Total**|
||**2022**|**2021**|
||**£**|**£**|
|Depreciation of tangible fixed assets|107|143|
|Independent examiner’s fee|2,160|1,950|
|**3. Independent Examination Fees**|||
||**Total**|**Total**|
||**2022**|**2021**|
||**£**|**£**|
|Fees payable to the independent examiner for:|||
|Independent examination of the financial statements|2,160|1,950|
## **13. Independent Examination Fees**
15
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **14. Staff Costs**
The total costs and employee benefits for the reporting period are analysed as follows:
|Wages & salaries
Social security costs
Employer contributions to pension plans|**Total**
**2022**
**£**
235,655
18,815
3,946
258,416|**Total**
**2021**
**£**
169,141
12,955
3,764|
|---|---|---|
|||185,860|
The average head count of employees during the year was 6 (2021: 6). The average number of full time equivalent employees during the year is analysed as follows:
|equivalent employees during the year is analysed as follows:|||
|---|---|---|
|Number of staff – admin
Number of staff – project delivery|**Total**
**2022**
**No.**
2
4
6|**Total**
**2021**
**No.**
2
4|
|||6|
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
## **15. Trustee remuneration and expenses**
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
16
## **SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **16. Tangible Fixed Assets**
|Cost
At 1 April 2021
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Carrying Amount
At 31 March 2022
At 31 March 2021|**Freehold**
**Property**
**£**
319,653
319,653
-
-
-
319,653
319,653|**Plant &**
**Machinery**
**£**
8,525
8,525
8,525
-
8,525
-
-|**Fixtures &**
**Fittings**
**£**
5,760
5,760
5,331
107
5,438
322
429|**Total**
**£**
333,938|
|---|---|---|---|---|
|||||333,938|
|||||13,856
107|
|||||13,963|
|||||319,975|
|||||320,082|
17
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **17. Investments**
|Cost of Valuation
At 1 April 2021
At 31 March 2022
Impairment
At 1 April 2021 & 31 March 2022
Carrying Amount
At 31 March 2022
At 31 March 2021|**Other**
**Investments**
**£**
100
100
-
100
100|**Total**
**£**
100|
|---|---|---|
|||100|
|||-
100|
|||100|
The investment comprises shares in subsidiary undertakings, stated at cost of £100 (2021 £100) and comprise the following companies:
|comprise the following companies:||||
|---|---|---|---|
||**Class of**|||
||**Share**|**2022**|**2021**|
|123 Accommodation CIC||||
|Company number: 08987468||||
|Number of shares held||100|100|
|% shareholding|Ordinary|100%|100%|
|Net Assets||9,851|8,706|
|Total Income||432,518|122,608|
|Total Expenditure||431,373|115,447|
|Profit for period||1,145|7,161|
123 Accommodation CIC owns and manages the Lock & Quay Community Pub and is acting as the vehicle to deliver the capital development programme (#destinationbootle) for the benefit of the charity.
18
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **18. Debtors**
|Trade debtors
Amounts owed by group undertakings
Prepayments & accrued income|**2022**
**£**
(1,100)
19,948
23,949
42,797|**2021**
**£**
18,375
18,226
75,239|
|---|---|---|
|||111,840|
## **19. Creditors: amounts falling due within one year**
|Bank loans and overdrafts
Trade Creditors
Accruals and deferred income
Social security and other taxes
Other creditors|**2022**
**£**
6,616
2,782
26,524
4,194
611
40,727|**2021**
**£**
6,295
-
12,231
4,495
777
23,798|
|---|---|---|
## **20. Creditors: amounts falling due after one year**
|Bank loans and overdrafts
Accruals and deferred income|**2022**
**£**
138,921
78,232
217,153|**2021**
**£**
145,930
83,820|
|---|---|---|
|||229,750|
The bank loan (mortgage) is secured against the property St Mary’s Complex and is repayable with interest over 25 years from March 2012.
Creditors: amounts falling due after one year include aggregate amounts of £162,749 (2021 £176,629) which fall due after five years and which are payable by instalments.
19
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **21. Government Grants/ Deferred Income**
The amounts recognised in the financial statements for government grants are as follows:
|Recognised in creditors:
Deferred government grants due after more than one year
Recognised in income from donations and grants:
Government grant income|**2022**
**£**
78,232
5,588|**2021**
**£**
83,820|
|---|---|---|
||||
|||5,588|
The deferred income relates to a grant which was obtained to part fund the purchase of St Mary’s Complex. This deferred income is being recognised over the term of the mortgage attached to this property- this being 25 years.
## **22. Pensions and other post retirement benefits**
## **Defined contribution plans**
Safe Regeneration Ltd operates an automatic enrolment scheme managed by NEST Pensions.
The amount recognised in the statement of financial activities as an expense in relation to defined contribution plan was £3,946 (2021 £3,764). The expense is attributable in full to the unrestricted fund.
20
## **SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **23. Analysis of Charitable Funds**
## **Unrestricted Funds**
|General funds
General funds|**At**
**1.4.2021**
**£**
123,188
**At**
**1.4.2020**
**£**
141,961|**Income**
**£**
161,398
**Income**
**£**
44,722|**Expenditure**
**£**
(151,568)
**Expenditure**
**£**
(63,976)|**Transfers**
**At**
**31.3.2022**
**£**
**£**
12,123
145,141
**Transfers**
**At**
**31.3.2021**
**£**
**£**
481
123,188|
|---|---|---|---|---|
## **Restricted Funds**
|Restricted fund general
Access to work
ERDF/EH Phase 2
Erasmus+ Fund- Art4us
Erasmus & Euro Trip
Erasmus+ Fund- PINOLO
SIB
The Morgan Foundation
The Good Samaritan
P2C Community
Community Fund PBSA
CLH Enabler Hub
Kickstart Project
Tackling Inequalities Fund
Creative Europe
Breaking Ground P2C|**At 1.4.2021**
-
2,060
-
53,886
16,638
20,400
-
27,289
1,967
(3,337)
(492)
(23,665)
-
-
56,440
-
151,186|**Income**
-
7,144
38,997
-
-
48,636
5,588
-
-
47,425
79,996
24,337
60,136
4,970
-
80,000
397,229|**Expenditure**
-
(9,204)
(33,441)
(44,492)
(15,374)
(69,701)
(5,588)
(19,674)
-
(43,473)
(80,495)
(800)
(60,322)
(5,689)
(66,283)
(71,484)
(526,020)|**Transfers**
-
-
(5,016)
-
-
-
-
-
-
(615)
991
128
186
719
-
(8,516)
(12,123)|**At**
**31.3.2022**
-
-
540
9,394
1,264
(665)
-
7,615
1,967
-
-
-
-
-
(9,843)
-|
|---|---|---|---|---|---|
||||||10,272|
21
## **SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **23. Analysis of Charitable Funds Continued**
|**Restricted Funds**
Restricted fund general
Access to work
ERDF/EH Phase2
Erasmus+ Fund-Art4us
Erasmus & Euro Trip
Erasmus & Fund - Pinolo
SIB
The Morgan Foundation
The Good Samaritan
P2C Community
Community Fund PSBA
CLH Enabler Hub
Community Led Home
Community Fund
Lottery/PBSA
Creative Europe
CAF Fund|**At 1.4.2020**
**£**
-
(909)
-
8,154
-
-
-
27,289
1,967
23,215
26,625
73,010
3,480
-
-
-
162,831|**Income**
**£**
-
115,923
32,652
50,900
16,638
50,880
5,588
-
-
23,713
58,437
-
-
30,000
57,040
5,000
446,771|**Expenditure**
**£**
-
(114,043)
(32,652)
(5,168)
-
(30,480)
(5,588)
-
-
(47,425)
(85,544)
(96,675)
(3,480)
(30,001)
(600)
(6,279)
(457,935)|**Transfers**
**At 31.3.2021**
**£**
**£**
-
-
1,089
2,060
-
-
-
53,886
-
16,638
-
20,400
-
-
-
27,289
-
1,967
(2,840)
(3,337)
(10)
(492)
-
(23,665)
-
-
1
-
-
56,440
1,279
-
(481)
151,186|**Transfers**
**At 31.3.2021**
**£**
**£**
-
-
1,089
2,060
-
-
-
53,886
-
16,638
-
20,400
-
-
-
27,289
-
1,967
(2,840)
(3,337)
(10)
(492)
-
(23,665)
-
-
1
-
-
56,440
1,279
-
(481)
151,186|
|---|---|---|---|---|---|
||||||151,186|
22
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
The purpose of each of the funds still remaining at 31 March 2022 was:
## **Erasmus+ Fund- Art4us**
Art4us mission is to use the power of the arts to transform lives of young people (mixed ability youth) and promote mental wellbeing and inclusion. Art4us will take a multi-artform creative connecting the project to seven countries across the EU.
## **Erasmus & Euro Trip**
The project aims at creating a network of young people and organisations working with and for youth in order to encourage the participation of youth in democratic life, strengthen the sense of European Citizenship and facilitate a more structured cooperation among the participating organisations and linked stakeholders.
## **Erasmus+ Fund- PINOLO**
Empowering artist is a project that aims to develop skills within the creative sector, working with unemployed artists- the project will create a manual to demonstrate methods that artists can replicate to create social value in their work.
## **The Morgan Foundation**
The Morgan Foundation provides capital project funding for the on-going renovation of the Lock & Quay community pub.
## **The Good Samaritan**
The Good Samaritan provides fund raising for a music project.
## **Creative Europe**
A series of new ambitious site-specific performances, each integrating aerial, movement, music- to form alternative operas. The performances will tell the story of the ‘Libertalia’ universe; a mythical free land founded by European pirates in the 17[th] century. Each ‘Libertalia’ story turns our notion of pirates upside down, telling the tale of pirates who are ‘guardians of liberty’. That help release us from the inner and outer world prisons we often exist within, by helping us find our hidden treasure.
## **ERDF/EH Phase 2**
The ERDF/EH Phase 2 fund will be utilised to continue to support social businesses growth across the Liverpool City region.
23
**SAFE REGENERATION LTD COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022**
## **24. Analysis of Net Assets Between Funds Company**
|Tangible fixed assets
Investments
Current Assets
Creditors less than one year
Creditors more than one year
Tangible fixed assets
Investments
Current Assets
Creditors less than one year
Creditors more than one year|**Unrestricted**
**Fund**
**2022**
**£**
319,975
100
69,269
(27,050)
(217,153)
145,141
**Unrestricted**
**Fund**
**2021**
**£**
429
100
146,457
(23,798)
-
123,188|**Restricted**
**Fund**
**2022**
**£**
-
-
23,949
(13,677)
-
10,272
**Restricted**
**Fund**
**2021**
**£**
319,653
-
61,283
-
(229,750)
151,186|**Total**
**Fund**
**2022**
**£**
319,975
100
93,218
(40,727)
(217,153)|
|---|---|---|---|
||||155,413|
||||**Total**
**Fund**
**2021**
**£**
320,082
100
207,740
(23,798)
(229,750)
274,374|
## **25. Share Capital**
The company is limited by guarantee and has no share capital. The liability of members is limited to the sum of £1 per member.
## **26. Related Party Transactions**
During the year the company entered into the following transactions with related parties:
|123 Accommodation C.I.C.|**Transaction Value**
**Year**
**Ended**
**Year**
**Ended**
**31/03/2022**
**31/03/2021**
1,722
7,816|**Balance owed by/ (owed to)**
**Year**
**Ended**
**Year**
**Ended**
**31/03/2022**
**31/03/2021**
19,948
18,226|
|---|---|---|
123 Accommodation C.I.C. is a wholly owned subsidiary of Safe Regeneration Limited. Outstanding balances due to the charity are unsecured and are considered to be repayable on demand.
24