Charity number: 1176917
LASTING LIFE THE SIMON MACCORKINDALE LEGACY
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
LASTING LIFE THE SIMON MACCORKINDALE LEGACY
| CONTENTS | |
|---|---|
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Independent Examiner's Report | 5 - 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 17 |
LASTING LIFE THE SIMON MACCORKINDALE LEGACY
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2022
Trustees
Doreen Taylor Susan George Brian Francis Aris Alan Rutherford Makepeace (appointed 1 February 2021)
Charity registered number 1176917 Principal office Higher Eastcott Farm Withiel Florey Taunton Somerset TA24 7DG Accountants Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2022
The Trustees present their first annual report together with the financial statements of the charity for the year ending 31 January 2022.
Objectives and activities
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, including the guidance 'Public benefit: running a charity (PB2)'.
The principal objectives of the Charity are the relief of sickness and the preservation and protection of good health for the public benefit by:
a) The provision of funding and support to organisations working in the field of cancer related healthcare and medical welfare.
b) The provision of funding and support to individuals in need of help in their fight against cancer.
Activities undertaken to achieve objectives
The Charity will achieve its objectives through the giving of grants to individuals and organisations.
Main activities undertaken to further the charity's purposes for the public benefit
Due to the global pandemic, the charity was not able to undertake any of its planned fund raising activities. A new trustee, Dr Alan Makepeace, joined the board during the course of the year and together the trustees are looking to hold the deferred events in the 2022-2023 accounting year. A new fundraising strategy – an online retail initiative - was agreed by the trustees to be implemented in the 2021-2022 financial year.
Achievements and performance
No grants were awarded in this period due to the lack of fund raising opportunity.
Main achievements of the charity
As with so many other charities, keeping afloat in order to plan future events to raise money in order for grants to be made has been the main achievement.
Financial review
Going concern
During the reporting period, a global pandemic was ongoing which affected the charity’s usual fundraising events, due to government restrictions on social distancing.
To mitigate this, the charity is actively seeking donations through online fundraising and other online platforms. Since October 2019, the charity has been in receipt of a charitable donation from Rutherford Health PLC for salary costs in relation to the administration of the office.
UK government COVID-19 restrictions have now been lifted. 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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
Reserves policy
The Trustees aim to retain sufficient reserves both to maintain current levels as well as further develop charitable activities.
Results
The charity had total incoming resources of £34,576 (2021: £33,443) during the year, comprising of donation income of £28,367 (2021: £33,443), income from fundraising activities of £6,209 (2021: £NIL). Total expenditure was £34,447 (2021: £42,242), comprising of expenditure on raising funds of £169 (2021: £525) and support costs of £34,278 (2021: £41,717). The surplus was thus £129 (2021: deficit of £8,779). Unrestricted (and total) funds carried forward were £577 (2021: £448).
Structure, governance and management
Constitution
Lasting Life The Simon MacCorkindale Legacy is a registered charity, number 1176917, and is constituted as a charitable incorporated organisation (CIO) under a foundation constitution.
Methods 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 Trust deed.
Financial risk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales 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 charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any
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material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
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charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 29 November 2022 and signed on their behalf by:
Doreen Taylor Trustee
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2022
Independent Examiner's Report to the Trustees of Lasting Life The Simon Maccorkindale Legacy ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 January 2022.
Responsibilities and Basis of Report
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Your attention is drawn to the fact that the charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do 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.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2022
Signed:
Dated: 29 November 2022
Jennifer Pope ACA
Nyman Libson Paul LLP Chartered Accountants and Registered Auditors 124 Finchley Road London NW3 5JS
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2022
| Note Income from: Donations 3 Fundraising activities 4 Total income Expenditure on: Raising funds 5 Charitable activities Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2022 £ 28,367 6,209 34,576 169 34,278 34,447 129 448 129 577 |
Total funds 2022 £ 28,367 6,209 34,576 169 34,278 34,447 129 448 129 577 |
Total funds 2021 £ 33,443 - |
|---|---|---|---|
| 33,443 525 41,717 |
|||
| 42,242 (8,799) 9,247 (8,799) |
|||
| 448 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 17 form part of these financial statements.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
BALANCE SHEET AS AT 31 JANUARY 2022
| Note Fixed assets Tangible assets 8 Investments 9 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current liabilities Total net assets Charity funds Restricted funds 12 Unrestricted funds 12 Total funds |
1,687 1,882 3,569 (4,470) |
2022 £ 1,476 2 1,478 (901) 577 - 577 577 |
7,304 30 7,334 (8,337) |
2021 £ 1,449 2 |
|---|---|---|---|---|
| 1,451 (1,003) |
||||
| 448 - 448 |
||||
| 448 |
The financial statements were approved and authorised for issue by the Trustees on 29 November 2022 and signed on their behalf by:
Doreen Taylor
(Trustee)
The notes on pages 9 to 17 form part of these financial statements.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
1. General information
Lasting Life The Simon Maccorkindale Legacy is a Charitable Incorporated Organisation registered in and operating throughout England and Wales.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) (second edition - October 2019) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Lasting Life The Simon Maccorkindale Legacy 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.
2.2 Going concern
The charity meets its day to day working capital requirements through the utilisation of its own funds.
The UK charitable sector has been badly affected by the impact of COVID-19, with financial hardship and uncertainty affecting voluntary income received. Whilst the full, final effect of the pandemic is not yet known, it is clear that the charity's activities and revenue streams have been and will continue to be severely impacted.
The trustees have prepared updated forecasts and projections based on a number of potential scenarios and these, together with reserves held, cost savings made and government assistance indicate that the charity has adequate resources to continue its operations, albeit at a potentially lower level. It is, however, difficult to determine the assumptions that will prove to be most appropriate and therefore there is an element of uncertainty existing.
After reviewing the forecasts and projections, at the time of approving these financial statements the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the next 12 months. The trustees therefore consider it appropriate to continue to adopt the going concern basis in preparing the charity’s financial statements.
2.3 Income
Income comprises of donations, sponsorship and ticket income from fundraising events.
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.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
2. Accounting policies (continued)
2.4 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 on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
| Log Cabin | - | 5% Straight line |
|---|---|---|
| Fixtures and fittings | - | 20% Straight Line |
| Office equipment | - | 20% Straight Line |
2.6 Investments
Investments in subsidiaries are valued at cost less provision for impairment. Consolidated accounts have not been prepared as the inclusion of the charity's subsidiary is not material for the purpose of giving a true and fair view.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 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.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
2. Accounting policies (continued)
2.9 Liabilities and provisions
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 charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.10 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.
2.11 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.
3. Income from donations and legacies
| Donations Donations |
Unrestricted funds 2022 £ 28,367 Unrestricted funds 2021 £ 33,443 |
Total funds 2022 £ 28,367 |
|---|---|---|
| Total funds 2021 £ 33,443 |
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
4. Income from fundraising
Income from non charitable trading activities
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2021 | |
| £ | £ | £ | |
| Sales of charity shop merchandise | 6,209 | 6,209 | - |
5. Expenditure on raising funds Costs of raising funds
| Event costs Event costs |
Unrestricted funds 2022 £ 169 Unrestricted funds 2021 £ 525 |
Total funds 2022 £ 169 |
|---|---|---|
| Total funds 2021 £ 525 |
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
6. Analysis of expenditure by activities
| Consultancy Legal fees Credit card fees Accountancy Computer costs Printing, postage and stationery Depreciation expense General expenses Total 2022 |
Support costs 2022 £ 24,360 40 301 1,065 7,161 599 102 650 34,278 |
Total funds 2022 £ 24,360 40 301 1,065 7,161 599 102 650 |
|---|---|---|
| 34,278 |
| Consultancy Credit card fees Accountancy Computer costs Gas and electricity costs Depreciation expense General expenses |
Support costs 2021 £ 30,984 64 6,780 519 705 88 2,577 41,717 |
Total funds 2021 £ 30,984 64 6,780 519 705 88 2,577 |
|---|---|---|
| 41,717 |
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
7. Trustees' remuneration and expenses
During the year, Trustees received remuneration or other benefits amounting to £473 (2021 - £NIL).
During the period ended 31 January 2022, a Trustee received reimbursed of expenses amounting to £Nil (2021: £268 expenses incurred). The amount was outstanding at the year end is included in other creditors and disclosed in note 13.
8. Tangible fixed assets
| Cost or valuation At 1 February 2021 Additions At 31 January 2022 Depreciation At 1 February 2021 Charge for the year At 31 January 2022 Net book value At 31 January 2022 At 31 January 2021 |
Log Cabin £ 1,440 - 1,440 69 72 141 1,299 1,371 |
Fixtures and fittings £ 97 - 97 19 19 38 59 78 |
Office equipment £ - 129 129 - 11 11 118 - |
Total £ 1,537 129 |
|---|---|---|---|---|
| 1,666 | ||||
| 88 102 |
||||
| 190 | ||||
| 1,476 1,449 |
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
9. Fixed asset investments
Cost or valuation At 1 February 2021 At 31 January 2022
Investments in subsidiary company £ 2 2
The following was a subsidiary undertaking of the charity:
Name Company Registered office or principal Principal activity number place of business Lasting Life International Ltd 11150699 Higher Eastcott Farm Dormant Company Withiel Florey Minehead Somerset TA24 7DG
Holding Included in consolidation
100% No
The financial results of the subsidiary for the year were:
Name Net assets £ Lasting Life International Ltd 2
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
10. Debtors
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Due within one year | ||
| Amounts owed by subsidiary undertaking | 1,687 | 7,304 |
11. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals |
2022 £ 2,700 - 1,770 4,470 |
2021 £ - 1,257 7,080 |
|---|---|---|
| 8,337 |
12. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Statement of funds - prior year Unrestricted funds General Funds - all funds |
Balance at 1 February 2021 £ 448 Balance at 1 February 2020 £ 9,247 |
Income £ 34,576 Income £ 33,443 |
Expenditure £ (34,447) Expenditure £ (42,242) |
Balance at 31 January 2022 £ 577 |
|---|---|---|---|---|
| Balance at 31 January 2021 £ 448 |
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
13. Related party transactions
The charity's activities were transacted through the bank account of its subsidiary, Lasting Life International Limited, in advance of opening its own bank account. At the reporting date the charity was owed £1,687 (2021: £7,304) and a trustee owed £473 to the charity (2021: was owed £1,257 by the charity).
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