Charity number: 1176917
LASTING LIFE THE SIMON MACCORKINDALE LEGACY
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
LASTING LIFE THE SIMON MACCORKINDALE LEGACY
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 - 16 |
LASTING LIFE THE SIMON MACCORKINDALE LEGACY
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2024
Trustees Doreen Taylor Susan George Brian Aris Alan Makepeace Elizabeth Reid Jennifer Pope Charity registered number 1176917 Principal office Higher Eastcott Farm Withiel Florey Taunton Somerset TA24 7DG
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2024
The Trustees present their first annual report together with the financial statements of the charity for the year ending 31 January 2024.
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
The after effects of the lockdown have continued to be felt, and as a result it is taking longer to be in a position to organise fundraising events. The online retail initiative continued to raise funds and the charity benefitted from a number of generous donations in the year. These funds allowed the charity to continue to fund its basic administrative operations enabling the Trustees to continue to build the charity and to award two grants in the year.
Achievements and performance
Although fund raising opportunities were limited, 2 grants were made to Ladies Fighting Breast Cancer and to the Linda Jackson MacMillan Cancer Centre.
Future plans
The charity is planning a substantial fund raising event in London to be held on 29 November 2024 and all indications on ticket sales to date indicate this will be a success.
Financial review
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. Further details regarding the adoption of the going concern basis can be found in the accounting policies
Reserves policy
The Trustees aim to retain sufficient reserves both to maintain current levels as well as further develop charitable activities.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024
Results
The charity had total incoming resources of £21,456 (2023: £46,904) during the year, including donation income of £18,425 (2023: £20,677). Total expenditure was £14,864 (2023: £43,774) including grants of £2,000 paid out during the year. The surplus was thus £6,592 (2023: £3,130). Unrestricted (and total) funds carried forward were £10,299 (2023: £3,707).
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 2024
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:
-
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 11 November 2024 and signed on their behalf by:
S George
Trustee
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2024
| Note Income from: Donations and legacies 3 Fundraising activities 4 Total income Expenditure on: Raising funds – event costs 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 2024 £ 18,425 3,031 |
Total funds 2024 £ 18,425 3,031 |
Total funds 2023 £ 20,677 26,227 46,904 9,415 34,359 43,774 3,130 577 3,130 3,707 |
|---|---|---|---|
| 21,456 | 21,456 | ||
- 14,864 |
- 14,864 |
||
| 14,864 | 14,864 | ||
6,592 |
6,592 |
||
3,707 6,592 |
3,707 6,592 |
||
| 10,299 | 10,299 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 7 to 16 form part of these financial statements.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
BALANCE SHEET AS AT 31 JANUARY 2024
| Note Fixed assets Tangible assets 9 Investments 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets / liabilities Total net assets Charity funds Restricted funds 13 Unrestricted funds 13 Total funds |
6,826 3,700 |
2024 £ 1,241 2 |
5,686 3,130 |
2023 £ 1,359 2 1,361 2,346 3,707 - 3,707 3,707 |
|---|---|---|---|---|
| 1,243 9,056 |
||||
| 10,526 (1,470) |
8,816 (6,470) |
|||
| 10,299 | ||||
- 10,299 |
||||
| 10,299 |
The financial statements were approved and authorised for issue by the Trustees on 11 November 2024 and signed on their behalf by:
S George
Trustee
The notes on pages 7 to 16 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 2024
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. 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.
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.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
2. Accounting policies (continued)
2.4 Expenditure (continued)
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.
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.
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.
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
2. Accounting policies (continued)
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 2024 £ 18,425 |
Total funds 2024 £ 18,425 Total funds 2023 £ 20,677 |
|---|---|---|
Unrestricted funds 2023 £ 20,677 |
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
4. Income from fundraising Income from fundraising events
| Events income Income from trading activities Sales of merchandise Sales of merchandise 5. Expenditure on raising funds Costs of raising funds Event costs |
Unrestricted funds 2024 £ - |
Total funds 2024 £ - |
Total funds 2023 £ 21,519 21,519 Total funds 2024 £ 3,031 Total funds 2023 £ 4,708 Total funds 2024 £ - |
|---|---|---|---|
| - | - | ||
| Unrestricted funds 2024 £ 3,031 |
|||
Unrestricted funds 2023 £ 4,708 |
|||
Unrestricted funds 2024 £ - |
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
| Event costs | Unrestricted funds 2023 £ 9,415 |
Total funds 2023 £ 9,415 |
|---|---|---|
6. Analysis of grants
| Shooting Stars Children's Hospices Ladies Fighting Breast Cancer Linda Jackson MacMillan Cancer Centre |
Grants to Institutions 2024 £ 600 1,400 |
Total funds 2024 £ 600 1,400 |
Total funds 2023 £ 2,000 - - |
|---|---|---|---|
| 2,000 | 2,000 |
7. Analysis of expenditure by activities
| Grants paid Consultancy – admin assistance Legal fees Credit card / bank charges Accountancy Office costs Depreciation expense Total 2024 |
Grant funding of activities 2024 £ 2,000 - - - - - - |
Support costs 2024 £ - 10,566 - 102 (4,500) 6,578 118 |
Total funds 2024 £ 2,000 10,566 - 102 (4,500) 6,578 118 14,864 |
|---|---|---|---|
| 2,000 | 12,864 |
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
7. Analysis of expenditure by activities (continued)
| Consultancy / administration Legal fees Credit card fees Accountancy Office costs Grants Depreciation expense |
Support costs 2023 £ 20,834 40 105 2,250 9,013 2,000 117 |
Total funds 2023 £ 20,834 40 105 2,250 9,013 2,000 117 34,359 |
|---|---|---|
| 34,359 |
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
8. Trustees' remuneration and expenses
During the year and previous year, no Trustees received any remuneration or other benefits nor any reimbursed expenses.
9. Tangible fixed assets
| Cost or valuation At 1 February 2023 At 31 January 2024 Depreciation At 1 February 2023 Charge for the year At 31 January 2024 Net book value At 31 January 2024 At 31 January 2023 |
Log Cabin £ 1,440 |
Fixtures and fittings £ 97 |
Office equipment £ 129 |
Total £ 1,666 1,666 307 118 425 1,241 1,350 |
|---|---|---|---|---|
| 1,440 | 97 |
129 |
||
| 213 72 |
57 20 |
37 26 |
||
| 285 | 77 |
63 |
||
| 1,155 | 20 |
66 | ||
1,227 |
40 |
92 |
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
10. Fixed asset investments
Investments in subsidiary company £ Cost or valuation At 1 February 2023 2 At 31 January 2024 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 2024
11. Debtors
| Due within one year Amounts owed by subsidiary undertaking Creditors: Amounts falling due within one year Trade creditors Accruals Statement of funds Statement of funds - current year Balance at 1 February 2023 £ Unrestricted funds General Funds - all funds 3,707 Statement of funds - prior year Balance at 1 February 2022 £ Unrestricted funds General Funds - all funds 577 |
Due within one year Amounts owed by subsidiary undertaking Creditors: Amounts falling due within one year Trade creditors Accruals Statement of funds Statement of funds - current year Balance at 1 February 2023 £ Unrestricted funds General Funds - all funds 3,707 Statement of funds - prior year Balance at 1 February 2022 £ Unrestricted funds General Funds - all funds 577 |
Income £ 21,456 |
2024 £ 6,826 |
2024 £ 6,826 |
2023 £ 5,686 2022 £ 4,470 2,000 6,470 Balance at 31 January 2024 £ 10,299 Balance at 31 January 2023 £ 3,707 |
|
|---|---|---|---|---|---|---|
2023 £ - 1,470 |
||||||
| 1,470 | ||||||
Expenditure £ (14,864) |
||||||
Balance at 1 February 2022 £ 577 |
Income £ 46,904 |
Expenditure £ (43,774) |
12. Creditors: Amounts falling due within one year
13. Statement of funds
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LASTING LIFE THE SIMON MACCORKINDALE LEGACY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
14. 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 £6,826 (2023: £5,686).
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