DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 **Registered number: CE011300 Charity number: 1173800** ## **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 MARCH 2023** DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 ## **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION** ## **CONTENTS** ||Page| |---|---| |**Reference and administrative details of the charity, its trustees and advisers**|1| |**Trustees' report**|2 - 3| |**Accountant's report**|4| |**Statement of financial activities**|5| |**Balance sheet**|6| |**Notes to the financial statements**|7 - 10| DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 ## **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023** ## **Trustees** S Goodman, Founder/Chairman M Kirby, Non-voting trustee R Ellaway, Trustee N Deen, Trustee E Shaw, Treasurer S Goodman, Secretary ## **Company registered number** CE011300 ## **Charity registered number** 1173800 ## **Registered office** 15 East Street, Radcliffe, Manchester, M26 2PN ## **Accountants** Grant Thornton UK LLP, 11th Floor, Landmark St Peter's Square, 1 Oxford St, Manchester, M1 4PB Page 1 DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 ## **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023** The Trustees present their annual report together with the financial statements of the charity for the year 1 April 2022 to 31 March 2023. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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 2020). Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. ## **Objectives and Activities** ## **a. Policies and objectives** In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit. The objective of the charity is to promote the education (including social and physical training) of people under the age of 25 years in Greater Manchester and the surrounding areas in such ways as the charity trustees think fit, including by awarding to such persons scholarships, maintenance allowances or grants tenable at any university, college or institute of higher or further education for the study of music, drama and the arts. Such other exclusively charitable purposes according to the law of England and Wales that the charity trustees determine from time to time. ## **Achievements and performance** ## **a. Review of activities** Following the reopening after the pandemic, we experienced an increase in revenue and a rise in the number of applicants. Several of the individuals we had previously supported had also graduated and are currently following their dreams. Our main source of income was generated from a charity football match, where we received a fifth of the total funds raised. Additionally, our pre-loved charity stall in the Radcliffe centre provided us with a consistent stream of revenue. At our Annual General Meeting, it was decided that our secretary would join a local community group to raise awareness of the trust in the Bury borough, which proved to be successful. As a result, we were approached to assist a young Ukrainian refugee who loved dancing. We were able to secure dance lessons for the individual and help him settle into our community. Page 2 DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 ## **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION** ## **TRUSTEES' REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2023** ## **Financial review** ## **a. Going concern** After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. ## **b. Reserves policy** The trust will hold a fund of £10,000 to continue operations and this amount is based on the fact that most of our recipients have on going funding music dance and singing lessons. We estimate that this will be 12 month running cost in reserve . ## **Structure, governance and management** ## **a. Constitution** The charity is registered as a charitable incorporated organisation and was set up by a foundation model constitution on 12/07/2017. The registered charity number 1173800. The charity's registered office is 15 East Street, Radcliffe, Manchester, M26 2PN. ## **b. Method of appointment or election of Trustees** The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the foundation model constitution. This report was approved by the Trustees, on 24/1/2024 and signed on their behalf by: ................................................ **S Goodman, Founder** Trustee Page 3 DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 ## **Report to the Trustees on the preparation of the unaudited statutory financial statements of Liv's Trust Charitable Incorporated Organisation for the year ended 31 March 2023** We have compiled the accompanying financial statements of Liv's Trust Charitable Incorporated Organisation (the ‘company’) based on the information you have provided. These financial statements comprise the Balance Sheet of Liv's Trust Charitable Incorporated Organisation as at 31 March 2023, and the Statement of Financial Activities Incorporating the Income and Expenditure Account for the year then ended, and a summary of significant accounting policies and other explanatory information. We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'. We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' . As a member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com. These financial statements and the accuracy and completeness of the information used to compile them are your responsibility. Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice. This report is made solely to the Company's trustees, as a body, in accordance with the terms of our engagement letter dated 20 July 2023. Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's trustees, as a body, in this report in accordance with our engagement letter dated 20 July 2023. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its trustees, as a body, for our work or for this report. ## **Grant Thornton UK LLP** Chartered Accountants Manchester Date: 24/1/2024 Page 4 DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 ## **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023** |**Unrestricted**
**funds**
**Note**
**2023**
**£**
**Income from:**
Donations and legacies
2
**37,273**
**Total income**
**37,273**
**Expenditure on:**
Charitable expenditure
3
**791**
Charitable activities
4,5
**32,679**
**Total expenditure**
**33,470**
**Net income before other recognised gains and losses**
**3,803**
**Net movement in funds**
**3,803**
**Reconciliation of funds:**
Total funds brought forward
**20,018**
**Total funds carried forward**
**23,821**|**Total**
**funds**
**2023**
**£**
**37,273**
**37,273**
**791**
**32,679**
**33,470**
**3,803**
**3,803**
**20,018**
**23,821**|_Total_
_funds_
_2022_
_£_
_14,069_| |---|---|---| |||_14,069_| |||_170_
_8,710_| |||_8,880_| |||_5,189_
_5,189_
_14,829_| |||_20,018_| The notes on pages 7 to 10 form part of these financial statements. Page 5 DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 ## **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION REGISTERED NUMBER: CE011300** ## **BALANCE SHEET AS AT 31 MARCH 2023** |**Note**
**Current assets**
Stocks
8
Cash at bank and in hand
**Net assets**
**Charity Funds**
Unrestricted funds
9
**Total funds**|**£**
**75**
**23,746**|**2023**
**£**
**23,821**
**23,821**
**23,821**
**23,821**|_£_
_80_
_19,938_|_2022_
_£_
_20,018_| |---|---|---|---|---| |||||_20,018_| |||||_20,018_| |||||_20,018_| The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The Trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the charity to obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved and authorised for issue by the Trustees on signed on their behalf, by: 24/1/2024 and ................................................ **S Goodman, Founder** The notes on pages 7 to 10 form part of these financial statements. Page 6 DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. Accounting Policies** ## **1.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with 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 2020) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Liv's Trust Charitable Incorporated Organisation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## **1.2 Company status** The charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £Nil per member of the charity. ## **1.3 Income** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. ## **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 measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. Page 7 DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **1. Accounting Policies (continued)** ## **1.5 Stocks** Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. ## **1.6 Cash at Bank and in hand** Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **1.7 Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **1.8 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. ## **2. Income from donations and legacies** |**Unrestricted**
**funds**
**2023**
**£**
Donations
**37,273**
_Total 2022_
_14,069_|**Total**
**funds**
**2023**
**£**
**37,273**
_14,069_|_Total_
_funds_
_2022_
_£_
_14,069_| |---|---|---| |||| ## **3. Charitable expenditure** |**Unrestricted**
**funds**
**£**
Charitable activities
**791**
_Total 2022_
_170_|**Total**
**2023**
**£**
**791**
_170_|_Total_
_2022_
_£_
_170_| |---|---|---| |||| Page 8 DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 ## **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **4. Analysis of grants** |**Analysis of grants**||||| |---|---|---|---|---| |Grants for music and dance education
_Total 2022_
**Support costs**
Bank charges
Telephone
Insurance
Sundry expenses
_Total 2022_|**Grants to**
**Individuals**
**2023**
**£**
**29,451**
_6,807_
**Unrestricted**
**funds**
**£**
**129**
**1,956**
**823**
**320**
**3,228**
_1,903_||**Total**
**2023**
**£**
**29,451**
_6,807_
**Total**
**2023**
**£**
**129**
**1,956**
**823**
**320**
**3,228**
_1,903_|_Total_
_2022_
_£_
_6,807_| |||||_Total_
_2022_
_£_
_95_
_1,808_
_-_
_-_
_1,903_| |||||| |||||| ## **5. Support costs** ## **6. Net income/(expenditure)** During the year, no Trustees received any remuneration (2022: £NIL). During the year, no Trustees received any benefits in kind (2022: £NIL). During the year, no Trustees received any reimbursement of expenses (2022: £NIL). ## **7. Staff costs** The charity has no employees other than the Trustees, who did not receive any remuneration _(2022: £NIL)_ . ## **8. Stocks** |**Stocks**||| |---|---|---| ||**2023**|_2022_| ||**£**|_£_| |T-shirts, caps and collection tubs|**75**|_80_| Page 9 DocuSign Envelope ID: 970AC9BF-2104-47B4-B46F-1E37604CCA49 ## **LIV'S TRUST CHARITABLE INCORPORATED ORGANISATION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** ## **9. Statement of funds** ## **Statement of funds - current year** |**Balance at**
**1 April 2022**
**£**
**Unrestricted funds**
General Funds - all funds
**20,018**
**Statement of funds - prior year**
_Balance at_
_1 April 2021_
_£_
General Funds - all funds
_14,829_
Total of funds
_14,829_|**Income Expenditure**
**£**
**£**
**37,273**
**(33,470)**
_Income_
_Expenditure_
_£_
_£_
_14,069_
_(8,880)_
_14,069_
_(8,880)_|**Balance at**
**31 March**
**2023**
**£**
**23,821**
_Balance at_
_31 March_
_2022_
_£_
_20,018_
_20,018_| |---|---|---| ## **10. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |**Analysis of net assets between funds - current year**|| |---|---| |**Unrestricted**
**funds**
**2023**
**£**
Current assets
**23,821**
**Analysis of net assets between funds - prior year**
_Unrestricted_
_funds_
_2022_
_£_
Current assets
_20,018_|**Total**
**funds**
**2023**
**£**
**23,821**| ||_Total_
_funds_
_2022_
_£_
_20,018_| ## **11. Related party transactions** There have been no related party transactions during the period (2022: £Nil). Page 10