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2021-03-31-accounts

LIVERY SCHOOLS LINK LIMITED (A company limited by guarantee)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Company Registration Number: 10029749 Registered Charity Number: 1172347

LIVERY SCHOOLS LINK LIMITED

CONTENTS

FOR THE YEAR ENDED 31 MARCH 2021

Page
Reference and administrative details 1
Trustees' report 2 - 6
Independent examiner's report 7
Statement of financial activities incorporating income and expenditure account 8
Balance sheet 9
Notes to the financial statements 10 - 15

LIVERY SCHOOLS LINK LIMITED

REFERENCE AND ADMINISTRATIVE DETAILS

FOR THE YEAR ENDED 31 MARCH 2021

Registered Charity Name: Livery Schools Link Limited
Charity Number: 1172347
Company Registration Number: 10029749
Principal and Registered Office: 8 Little Trinity Lane
London
EC4V 2AN
Trustees: D J Barker - Director
B M Blanchard - Director (resigned 6 October 2020)
C J Chivers (appointed 6 October 2020)
P A Cole - Director (Treasurer)
E M Goodwin - Director (Chairman)
R A Kottler (appointed 6 October 2020)
J P Legat - Director
M A Marden - Director
S M Fey (Squire) - Director
P L Walker - Director (resigned 6 October 2020)
P J Woodhouse (ex officio)
Secretary: N Hutton
Independent Examiner: L Pourian ACA
Bankers: HSBC
60 Queen Victoria Street
London
EC4N 4TR
Solicitors: Holman Fenwick Willan LLP
Friary Court
65 Crutched Friars
London
EC3N 2AE

1

LIVERY SCHOOLS LINK LIMITED

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Introduction

This report covers the period from the start of April 2020 until the end of March 2021. At the start of the year although we were into the start of the first lock-down I think like many people we all thought we would be back to the old normal by the autumn 2020. It has certainly been an interesting ‘virtual’ year.

Livery Schools Link (LSL) as an organisation has worked hard during the year and we are pleased that we have been able to deliver our activities in various ways.

Purpose

The purpose of LSL is:

  1. To support schools in developing young people’s employability skills for work and life,

  2. To make young people aware about the wide range of employment and training opportunities which are represented by Livery Companies and their members,

  3. To help to raise the aspirations of young people, and

  4. To positively encourage Livery Companies and their members to get actively involved in helping achieve links between them and schools.

(The word ‘schools’ includes schools, academies and colleges for students between the ages of 5 and 18. The phrase ‘Livery Companies’ includes companies seeking Livery Status and Guilds.)

Schools are now planning their careers activities alongside the Gatsby benchmarks which require young people to have contact with those in employment of different types. The work of LSL can be of help to schools.

Membership

During 2020-21 we had 70 members plus one donation. We continue to look to attract more members as our income comes mainly from subscriptions. My thanks are due to Maureen Marden who as our Livery Liaison Director has been keeping in touch with Livery Companies during this period.

Digital divide campaign

As lock-down was looming two of our Directors, David Barker and Maureen Marden began to think about a campaign to raise money for helping disadvantaged secondary schoolchildren become connected to the internet. The campaign was launched last summer and we began identifying schools to receive devices and connections to help students at both primary and secondary level who were struggling with on-line schooling. The subsequent lock-down over the first months of 2021 emphasised again the need for this campaign. By March 2021 we had raised about £150,000 and had helped 58 schools some outside London. This represented 835 students. We registered with Virgin Money which allowed us to accept donations from individuals which attracted Gift Aid. Money has continued to arrive after the year end. Several schools have told us that they do not want to lose the on-line learning skills which the students have developed and blended learning is now part of the curriculum. The need for devices and connections will still be there going forward.

2

LIVERY SCHOOLS LINK LIMITED

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Volunteer platform

We decided that the best way forward on the volunteering platform was to join with two established Charities ‘Speakers for Schools’ and ‘Inspiring the Future’ both of which were also offering career talks to young people. The two charities were pleased to welcome volunteers from all Livery Companies and Guilds to engage with and support students in schools and colleges across the UK. Many of the schools and colleges are in areas where the young people come from socially disadvantaged backgrounds. By signing up through the LSL scheme each Livery Company is to be given an annual report about the amount of time spent in this volunteering by their members. As well as careers awareness courses, mock interviews and help with CVs the platform also has opportunities of virtual work experience and we are planning to develop this aspect in the coming months. By the end of March 2021 101 Livery volunteers were enrolled on the platform.

Livery education conference

The 2021 conference took place by Zoom on 9 March 2021. We followed our standard format and invited 50 senior staff from London schools and 50 Masters of Livery Companies to discuss issues of common interest on preparing young people for the future. The theme was ‘Preparing young people for the changing future’. Sheriff Chris Hayward gave a welcome to start the conference off. The first talk was ‘Earn as you learn Apprenticeships in 2021- How is the City of London meeting the challenge?’ Given by Past Lord Mayor, Alderman Sir Andrew Parmley and Caroline Haines CC, Chair City of London Education Board. This was followed by Sarah Counter, the CEO of Canary Wharf College, talking on ‘Spinning plates into the future A CEO’s view of preparing pupils for the future now’. This gave a fascinating picture about how schools are changing as a result of the recent year. The final talk was on the careers app for young people HELP which was developed by the Horners and SACU, a software company, together with the Educators and LSL. We made the conference shorter than usual because we missed the chance for breaks to mix and chat. However, we did break into rooms for one discussion session where we were able to mix school and Livery representatives to talk about the current issues in education. Unfortunately, the date of the conference coincided with the week that schools opened up again after the lock-down early in 2021 which meant a number of school attendees could only logon for part of the session. LSL were pleased however that the event did take place and we might consider some future events in this format going forward. The conference is organised in conjunction with the Actuaries’ and Educators’ Companies.

Livery in education

The 2021 Livery in Education booklet was published in March 2021 and presented to all Clerks. It was sponsored by the Worshipful Company of Goldsmiths who have kindly also sponsored previous editions. We continued with the principle that the entry for each Company should be decided by the Company itself. Because of the uncertainty with the Covid situation we did not ask for revised entries for 2020 as usual in March 2020 but left it until autumn 2020.

3

LIVERY SCHOOLS LINK LIMITED

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Livery showcase

The Livery Showcase is now part of the larger London Careers Festival (LCF) and unfortunately the LCF had to be run as a virtual event in summer 2020. A number of relevant Webinars were offered to schools and a lot of careers resources were put on the LCF Website where they are available for consultation all through the year. The Showcase was not offered in 2020 but we have spent time preparing for a virtual Showcase in June 2021. The decision was taken at the end of last year that the 2021 LCF would be virtual so that time could be spent in preparing for this. We would like to thank the Livery Companies who have been working on this this year.

Careers app

We continue to promote HELP the careers app to support young people in Years 8 and 9 as they make their choices for GCSE in Year 9. It is based upon proven, existing technology. The app can be downloaded free of charge from www.sacu-student.com/help.

The Board

We welcomed two new directors at the 2020 AGM: Richard Kottler, Pattenmakers’ Company and Christopher Chivers, Joiners and Ceilers’ Company. One director is leaving at this AGM: David Barker from the Information Technologists’ Company. On behalf of the Board, I would like to thank him for the work he has done for LSL. David helped in the development of our volunteering platform and on the Digital Divide campaign. He also was the IT ‘go to’ person for all our events! One new Director is being appointed today: and we look forward to their contribution to the Board going forward.

We need more people to volunteer to work with us in this interesting and rewarding charity. We would like to encourage a wider range of involvement from members and to help spread the load as we continue to offer more support and services to our membership and local schools. Please contact Lis Goodwin on lis.goodwin@liveryschoolslink.org.uk

Lis Goodwin Chairman

ANNEX A: LIST OF MEMBER LIVERY COMPANIES AT 31 MARCH 2021

Worshipful Company of Actuaries Honourable Company of Air Pilots Worshipful Company of Apothecaries Worshipful Company of Arbitrators Worshipful Company of Armourers and Brasiers Worshipful Company of Art Scholars Worshipful Company of Bakers Worshipful Company of Barbers Worshipful Company of Basketmakers Worshipful Company of Blacksmiths Worshipful Company of Builders’ Merchants

4

LIVERY SCHOOLS LINK LIMITED

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Worshipful Company of Butchers Worshipful Company of Chartered Accountants Worshipful Company of Chartered Architects Worshipful Company of Chartered Secretaries and Administrators Worshipful Company of Chartered Surveyors Worshipful Company of Clockmakers Worshipful Company of Clothworkers Worshipful Company of Coachmakers Company of Communicators Worshipful Company of Constructors Worshipful Company of Cooks Worshipful Company of Coopers Worshipful Company of Cutlers Worshipful Company of Distillers Worshipful Company of Educators Worshipful Company of Environmental Cleaners Worshipful Company of Farriers Worshipful Company of Fishmongers Worshipful Company of Fletchers Worshipful Company of Framework Knitters Worshipful Company of Fuellers Worshipful Company of Gold and Silver Wyre Drawers Worshipful Company of Goldsmiths Worshipful Company of Gunmakers Worshipful Company of Haberdashers Worshipful Company of Hackney Carriage Drivers Worshipful Company of Horners Worshipful Company of Information Technologists Worshipful Company of Innholders Worshipful Company of Insurers Worshipful Company of International Bankers Worshipful Company of Joiners and Ceilers Worshipful Company of Makers of Playing Cards Worshipful Company of Management Consultants Worshipful Company of Masons Worshipful Company of Master Mariners Worshipful Company of Mercers Worshipful Company of Merchant Taylors Company of Nurses Worshipful Company of Painter-Stainers Worshipful Company of Patternmakers Worshipful Company of Paviors

5

LIVERY SCHOOLS LINK LIMITED

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2021

Worshipful Company of Saddlers Worshipful Company of Scientific Instrument Makers Worshipful Company of Scriveners Worshipful Company of Shipwrights Worshipful Company of Spectacle Makers Worshipful Company of Tax Advisers Worshipful Company of Tin Plate Workers Worshipful Company of Tylers and Bricklayers Worshipful Company of Upholders Company of Watermen and Lightermen Worshipful Company of Weavers Worshipful Company of Woolmen Worshipful Company of World Traders Worshipful Company of Drapers (donation)

ANNEX B: TRUSTEES 2020-21

Lis Goodwin Chairman (Educators) Jonathan Legat (Air Pilots) Maureen Marden (Environmental Cleaners) Chris Chivers (Joiners and Ceilers) Paul Cole (Barbers) Susan Fey (AKA Susan Squires) (Educators) David Barker (Information Technologists) Richard Kottler (Patternmakers) Philip Woodhouse (Livery Committee, ex officio)

ANNEX C: LEGAL COUNSEL

Nick Hutton

(Solicitor, Holman Fenwick Willan LLP)

The Trustees' report was approved by the Board on 9th September 2021, and signed on its behalf by:

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

E M Goodwin Chair of Trustees

6

LIVERY SCHOOLS LINK LIMITED

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

I report on the accounts of the Charity for the year ended 31 March 2021 which are set out on pages 8 to 15.

Responsibilities and basis of report

I report to the trustees on my examination of the accounts of the above charity for the year ended 31/03/2021.

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of 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 Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

· the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Lorita Pourian

Date: 30th August 2021

L Pourian ACA Kaspian Consultancy Ltd Lynton House 7-12 Tavistock Square London WC1H 9BQ

7

LIVERY SCHOOLS LINK LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2021

Restricted
Unrestricted Restricted
fixed asset
Total
funds
funds
funds
funds
2021
2021
2021
2021
INCOME
£
£
£
£
Volunteer platform (restricted funds)
-
-
Livery in education (restricted funds)
3,297
3,297
Laptops for Disadvantaged Children (Restricted Funds)
151,520
151,520
Gift Aid (Restricted Funds)
6,300
6,300
Other donations (unrestricted funds)
125
125
Membership subscriptions
8,530
8,530
8,655
161,117
-
169,772
EXPENDITURE
Livery in education
2,505
2,505
Laptops for Disadvantaged Children
150,162
150,162
Schools conference
-
-
Showcase
-
-
Administration
129
129
Book-keeping and accountancy fees
500
500
Independent examiner
250
250
Website costs
622
622
Insurance
592
592
Depreciation charge
20,598
20,598
2,093
152,667
20,598
175,358
Net income/(expenditure)
6,562
8,450
(20,598)
(5,586)
Transfer between funds
226
(226)
-
Net movement in funds
6,788
8,224
(20,598)
(5,586)
Total funds brought forward
10,405
510
39,042
49,957
Total funds carried forward
17,193
8,734
18,444
44,371		 Total
funds
2020
£
11,250
2,100
-
-
200
7,510
21,060
1,816
-
6,064
366
689
2,250
500
237
590
20,983
33,495
(12,435)
-
(12,435)
62,392
49,957

8

LIVERY SCHOOLS LINK LIMITED

BALANCE SHEET

AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
3
Current assets
Debtors
4
Cash at bank
Creditors: amounts falling due within one year
5
Net current assets
Total assets less current liabilities
Funds
Restricted funds
Restricted fixed asset funds
6
Restricted income funds
6
Total restricted funds
6
Un-restricted funds
6		 2021
2020
£
£
18,444
39,042
6,822
939
22,944
16,520
29,766
17,459
(3,839)
(6,544)
25,927
10,915
44,371
49,957
18,444
39,042
8,734
510
27,178
39,552
17,193
10,405
44,371
49,957		 2021
2020
£
£
18,444
39,042
6,822
939
22,944
16,520
29,766
17,459
(3,839)
(6,544)
25,927
10,915
44,371
49,957
18,444
39,042
8,734
510
27,178
39,552
17,193
10,405
44,371
49,957
49,957

For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 in respect to accounting records and the preparation of financial statements.

The financial statements on pages 8 to 15 were approved by the Trustees, and authorised for issue, on 9th September 2021 and are signed on their behalf, by:

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

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

E M Goodwin Chair of Trustees

P A Cole Treasurer

9

LIVERY SCHOOLS LINK LIMITED NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements of the trust, which is a public entity under FRS 102, have been prepared under the historical cost convention in accordance with the Financial Reporting Standards Applicable in the UK and Republic of Ireland (FRS 102), the 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), (Charities SORP (FRS 102)), the Charities Act 2011 and the Companies Act 2006.

Livery School Link Limited meets the definition of a public benefit entity as defined by FRS 102.

1.2 Going concern

The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the trust to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation of the financial statements and have concluded that the trust has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties about the trust's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements. Reviewed Feb 2021.

1.3 Income

All incoming resources are recognised when the Trust has entitlement to the funds, the receipt is probable and the amount of income can be measured reliably.

Donations are recognised on a receivable basis (where there are no performance-related conditions) where the receipt is probable and the amount can be reliably measured.

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be reliably measured. Expenditure is classified by activity.

All resources expended are inclusive of irrecoverable VAT.

10

LIVERY SCHOOLS LINK LIMITED NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies (continued)

1.5 Tangible fixed assets

Where tangible fixed assets have been acquired or developed with the aid of specific grants, they are included in the balance sheet at cost and depreciated over their expected useful economic life.

Where there are specific conditions attached to the funding, requiring the continued use of the asset, the related grants are credited to a restricted fixed asset fund in the Statement of financial activities and carried forward in the Balance sheet. Depreciation on the relevant assets is charged directly to the restricted fixed asset fund in the Statement of financial activities.

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of these assets, less their estimated residual value, over their expected useful lives on the following basis:

Volunteer platform -

25% straight line basis

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of financial activities.

1.6 Debtors

Trade and other debtors are recognised at the settlement amount after any discounts offered. Prepayments are valued at the amount prepaid, net of any trade discounts due.

1.7 Cash at bank

Cash at bank does not include short term liquid investments.

1.8 Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advance payments for the goods and services it must provide.

11

LIVERY SCHOOLS LINK LIMITED NOTES FOR THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies (continued)

1.9 Financial instruments

The Trust only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the Trust and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments and are measured at amortised cost. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is no obligation to deliver services rather than cash or other financial instrument.

1.10 Fund accounting

Unrestricted income funds represent those resources which may be used towards meeting any of the charitable objects of the Trust at the discretion of the Trustees.

Restricted fixed asset funds are resources which are to be applied to specific capital purposes imposed by funders where the asset acquired or created is held for a specific purpose.

Restricted general funds comprise all other restricted funds received with restrictions imposed by the funder/donor.

Gains and losses are allocated to the appropriate fund.

1.11 Reserves policy

The Trustees’ reserve policy is to maintain a sufficient level of reserves to ensure that the LSL’s continuing activities can be maintained by:

12

LIVERY SCHOOLS LINK LIMITED NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting policies (continued)

1.11 Reserves policy (continued)

When considering an appropriate level of reserves, the Directors consider:

2. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumptions:

The trust makes estimates and assumptions regarding the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

The present value of the Digital Volunteer Platform relies on the assumption that the Trust will be able to raise enough funds to monitor, maintain and update the software on a timely basis. Any changes to this assumption will impact the carrying amount of the Digital Volunteer Platform.

3. Tangible fixed assets

Cost
Balance at 1.4.20
Additions
Balance at 31.3.21
Depreciation
Balance at 1.4.20
Charge for the year
Balance at 31.3.21
Net Book Value
At 31.3.21
At 31.3.20		 Digital
Volunteer
Platform
£
87,725
87,725
48,683
20,598
69,281
18,444
39,042

13

LIVERY SCHOOLS LINK LIMITED NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

4. Debtors

Other debtors
Prepayments and accrued income
5. Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income
Resources deferred during the year		 2021
£
-
6,822
6,822
2021
£
3,089
750
3,839
2021
£
-
-		 2020
£
250
689
939
2020
£
794
5,750
6,544
2020
£
3,000
3,000

6. Statement of funds

Unrestricted funds
Restricted general funds
Heritage lottery
Livery academy awards
Livery in education
Laptops for Disadvantaged Children
Restricted fixed asset funds
Total restricted funds
Total funds		 Balance at
Balance at
1 April
Gains/
31 March
2020
Income
Expenses
Transfers
(losses)
2021
£
£
£
£
£
£
10,405
8,655
(2,093)
226
-
17,193
16
(16)
-
210
(210)
-
284
3,297
(2,505)
1,076
-
157,820
(150,162)
7,658
510
161,117
(152,667)
(226)
-
8,734
39,042
(20,598)
-
-
18,444
39,552
161,117
(173,265)
(226)
-
27,178
49,957
169,772
(175,358)
-
-
44,371

14

LIVERY SCHOOLS LINK LIMITED NOTES FOR THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

7. Related party transactions

Owing to the nature of the Trust's operations and composition of the board of trustees local public and private organisations, transactions may take place with organisations in which a trustee may have an interest. All transactions involving such organisations are conducted at arm's length and in accordance with the Trust's financial regulations and normal procurement procedures.

During the year Techcentre Limited, a company in which David Barker, a trustee, is a director and has significant control, provided services amounting to £Nil (2020: £11,250) to the company in relation to the development of the Volunteer Platform, the main asset of the Charity. At the balance sheet date, the company owed £Nil (2020: £Nil) to Mr Barker in relation to website costs.

Mr Barker was also instrumental in obtaining funding for this service in the form of charitable donations.

15