**Charity registration number 1185167**
**Company registration number 11754074 (England and Wales)**
## **LCR PRIDE FOUNDATION**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Emma Stewart||
|---|---|---|
||Donna Hall||
||Joseph Donohue||
||Kriss Hubbard|(Appointed 6 September 2022)|
||Amanda Hilton|(Appointed 6 September 2022)|
|**Secretary**|Andi Herring||
|**Charity number**|1185167||
|**Company number**|11754074||
|**Registered office**|Avenue HQ||
||17 Mann Island||
||Liverpool||
||L3 1BP||
|**Independent examiner**|BWM||
||Tempest||
||Suite 5.1||
||12 Tithebarn Street||
||Liverpool||
||L2 2DT||
|**Bankers**|Barclays Bank Plc||
||Liverpool Lord Street||
||Leicester||
||Leicestershire||
||LE87 2BB||
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 5|
|Statement of trustees' responsibilities|6|
|Independent examiner's report|7|
|Statement of financial activities|8|
|Balance sheet|9|
|Notes to the financial statements|10 - 17|
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
The trustees present their annual report and financial statements for the year ended 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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)".
## **Objectives and activities**
We aim to position Liverpool City Region as the most LGBT+ friendly region in the UK. We will do this by highlighting the daily barriers that LGBT+ people living in and visiting the region face, and by creating an inclusive culture where people feel they can fully participate and contribute.
The scope of our work spans the six boroughs of the Liverpool City Region namely, Halton, Knowsley, Sefton, St Helens, Liverpool and Wirral.
We **purposefully champion** the rights of LGBT+ people within the region in **powerful, creative and empowering ways** . We use our **reach and influence** to keep LGBT+ lives at the forefront of the region’s development and we work in **partnership** to provide a **trusted support network and infrastructure** to our diverse community.
Largely the work to achieve the objectives in this accounting period have included:
- Establishing an identifiable and sign-posting brand for LGBT+ life in the Liverpool City Region
- this helped the organisation foster partnerships and commercial income to fund our activity.
- Creation of an annual campaigning theme ‘From Now On’ to focus on the message of a commitment to do better for the LGBT+ community, to campaign with their voice and to aid in community cohesion, backed up with a full online digital presence including website and social media.
- Delivery of the 'MarchOnline' - a digital march and community event, to continue our work throughout the pandemic
- Continuing to establish the foundation as a ‘go-to’ organisation for policy and decision makers at all levels, enriching our work with voices from our Community Panel and also influence of local, regional and national policy through such as via consultation with local government representatives and the regions MPs.
Our charity’s trustees operate with due regard to the Charities Commission rules for Public Benefit and take this guidance into account when making decisions on behalf of the organisation:
- Almost all public-facing activities, both digital and in-person are carried out by the charity are done so free at the point of access due to commercial sponsorship and corporate partnerships, allowing for those of all economic backgrounds to access the work of the charity. Where this is not possible, subsidised or concessionary costs are available to ensure the target audience can participate. A conscious effort is made to keep any charges to a reasonable level and chargeable activities as a minority of the charity’s operations.
- The geographical remit of the organisation is identified as the Liverpool City Region and all efforts are made to ensure that activity, even if based in one particular area, are accessible, informed and considered as part of our operation. There is a large emphasis on digital provision which is not geographically bound as part of our charities core work.
- 1 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
- The organisation is set out to benefit the LGBT+ community and the charity uses this definition widely to encompass all those who may identify as part of that community, we also strongly support and encourage the impact of allies in our work and outcomes - maintaining our events open to all to participate in.
- Our organisation has a strong ethos of partnership working as through this, collaboration and jointworking we believe our work, that of our partners and the wider community can be strengthened and serve our charities beneficiaries better.
## **Achievements and performance**
This financial year has been a difficult one for many, including us at the foundation. Adjusting to delivering programmes online and keeping connected with the region’s LGBT+ community, support services and our partners continued to be a challenge.
That said, with learnings from the COVID19 measures that we put in place for the 2020/21 year we continued to invest time and resources into our digital programme and communications to ensure we can continue to support our community when they are most isolated.
As part of our digital programme we supported the online delivery of Liverpool Trans Day of Visibility (TDOV21) which engaged over 30 organisations and community groups. We also brought back our successful MarchONline once again uniting over 50 businesses and groups to showcase their work and support for the community even though they were operating remotely.
Summer 2021 continued to present additional challenges to us as an organisation. An increased number of high-profile homophobic attacks on the LGBT+ community in Liverpool and the wider region led to anxiety and worry within the community. As a result, LCR Pride Foundation alongside LGBT+ arts organisation Homotopia not only mobilised a visible response through community liaison, public art and online, but also ensured a voice and presence for the region’s community at strategic and leadership levels through the organisation’s partners and joint agency working.
The charity has also continued to cement its reputation as a supportive and trusted organisation, working alongside the Cheshire & Merseyside Adult Gender Collaborative (CMAGIC) organisation on a successful application to support the administration and reporting of their counselling services.
Financially, this year, like the last, has heavily relied on support of our corporate sponsors and donors - in particular Barclays as headline sponsor of the annual programme in lieu of Pride in Liverpool and the generous donations of corporate organisations taking part in MarchONline.
As a result of this financial position and also forward planning for the organisation heading towards live events and post-covid operations, the board of directors voted to recruit for a second employee - this time a part-time Administration and Finance Officer to support the CEO and organisation as we continue to grow.
Towards the end of the financial year, the organisation also started the delivery of a number of new streams in both delivery and also income diversification. Following on from events of the summer and gaps established for training with local businesses - the organisation developed and started the delivery of this to local organisations, businesses and groups to support the community and this forms part of our plans for going forward next year.
- 2 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Financial review**
Total income for the year amounted to £33,623 (2021: £7,688). Total expenditure amounted to £62,324 (2021: £75,694). Overall, this has resulted in a deficit for the year of £28,701 (2021: deficit £68,006). This resulted in a deficit of available unrestricted funds of (£17,873) at the year end (2021: surplus £10,828).
A ‘core’ budget was also allocated for the establishment of the foundation (Core – From now on - 2020). The board had intended for each product making a surplus to make contributions to this core fund each year, whilst retaining an agreed amount for its development.
Reflected in these financial statements is a creditor in relation to the deferral of commercial sponsorship for the 2021/22 program that had been received early and would carry over to the following year.
This reporting period included the lockdown and outcomes of the pandemic. Due to this all fund for the march, and other sponsorships have been redirected (with sponsor approval in all cases) in an unrestricted manner towards digital engagement and an early release of the community fund.
The organisation does not have any subsidiaries or trading bodies.
## **Reserves policy**
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Although, this level of reserves has not been maintained at the year end the trustees are confident that reserves will increase as the charities activities return to normal levels.
## **Key Risks**
We operate in a fluid sector in ordinary times, with live events management requiring shrewd financial planning, a solid understanding of new and emerging risks and confidence in our ability to deliver for our beneficiaries. Covid-19 has had a dramatic impact on the sector and, despite our resilience in the face of the cancellation of our programmed in-person events, a varied catalogue of core risks remains. The Board of Trustees is regularly apprised of key risks facing the charity, with a solid Risk Management policy and framework. Key risks during this period (and beyond) include:
- **Financial -** the core of our funding comes from corporate sponsorships. Our revenue streams have been resilient throughout the preceding financial year, however the economic fallout from the pandemic may restrict corporate social responsibility budgets in the coming years. We continue to seek opportunities to diversify our income streams as much as possible to mitigate this.
- **Covid-19 -** it remains to be seen whether or not physical events and mass gatherings will be permitted under government guidance. In the absence of a physical event, we are confident in our ability to deliver a creative, digital suite of events, however this may have a direct impact on income from sponsors and public donations.
- **Reputational risk due to inability to plan for the forthcoming year -** Uncertainty surrounding the viability of events may mean late stage cancellations or short notice of events we are able to run physically. This in turn could create negative press or perception of the charity and carries some light reputational risk. We are already working with key partners, local and national bodies to get information as soon as possible and manage this risk through careful planning and management.
- **Grant availability -** has been particularly difficult as the majority of funds have been diverted towards Covid recovery and for organisations set up before our date of incorporation. Whilst we are not reliant on grant funding for our ongoing financial viability, this closes off another potential avenue for funding. We are working hard to ensure costings and projects are ready to be used should applications or funds become more available/eligible.
- 3 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
- **Lack of access to European Grants and funding -** With the exit of the UK from the free market, the scope and breadth of grants available to charitable organisations has greatly diminished and available grant funding is going to be in high demand or possibly ring fenced by grant making organisations.
- **Increased distance from our beneficiaries -** This has both a financial (e.g. reduced income from commercial activity) and operational impact (engagement with people at a time where they may be struggling most).
## **Structure, governance and management**
The charity is a company limited by guarantee, registered number 1175074, and a registered charity number 1185167 governed by its Memorandum & Articles of Association incorporated 7 January 2019.
The Board of Trustees currently comprises independent non-executive Trustees/directors and 1x executive director (Chief Executive Officer) as a co-optee. Independence is regularly reviewed as part of regular appraisal processes.
The Board of Trustees undergo annual individual and whole-board appraisals to assess performance throughout the year and identify any skills gaps. We seek to recruit trustees based on the strategic needs of the charity, limited to a maximum number of 10.
All appointments are made by the Board of Trustees in line with our Articles of Association and subject to election by the members at the Annual General Meeting.
The Board continuously reviews board composition and there is a clear recruitment process to identify individuals with the right values, skills and behaviours in line with our strategic objectives. Interested persons are subject to a rigorous application and interview process and initially take a lead volunteer role in the organisation for up to 6 months before joining the board as above.
There are no corporate board members, nor external organisations that appoint board members. All appointments are directed by the Board of Trustees and elected by members at the AGM.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Emma Stewart Donna Hall Joseph Donohue Lewis Collins (Resigned 28 June 2022) Kriss Hubbard (Appointed 6 September 2022) Amanda Hilton (Appointed 6 September 2022)
## **Trustee training**
Trustees are offered relevant training as part of their development. They are encouraged to access training opportunities as appropriate and as a minimum, to read the Charity Commission’s guidance, ‘The Essential Trustee’.
## **Remuneration Trustees**
Trustees of LCR Pride Foundation receive no remuneration for their work, other than remuneration of basic expenses.
- 4 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Reference and Administrative Detail**
The charity is ‘LCR Pride Foundation’ and operates primarily under this name. Activities, usually events, may from time to time operate under their own name, with clear mark that they are ‘delivered by LCR Pride Foundation’ examples of this during this reporting period are:
- MarchOnLine
- Pride In Liverpool
- Pride Online
LCR Pride Foundation is a charitable company limited by guarantee, registered in England and Wales (Charity number: 1185167 and Company number: 11754074).
The principal and registered address of LCR Pride Foundation is: Avenue HQ, 17 Mann Island, Liverpool Waterfront, L3 1BP.
## **Small company provisions**
This report has been prepared in accordance with the special provisions relating to small companies with part 15 of the Companies Act 2006.
The trustees' report was approved by the Board of Trustees.
.............................. **Joseph Donohue** Trustee 23/ 12 / 2022 Dated: .........................
- 5 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
The trustees, who are also the directors of LCR Pride Foundation for the purpose of company law, 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).
Company Law 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 the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that 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 Companies Act 2006. 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.
- 6 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF LCR PRIDE FOUNDATION**
I report to the trustees on my examination of the financial statements of LCR Pride Foundation (the charity) for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the trustees of the charity (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 financial statements of the charity 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). 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**
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 financial statements to be reached.
## **Anita Mason BA(Hons) BFP FCA**
BWM Chartered accountants Tempest Suite 5.1 12 Tithebarn Street Liverpool L2 2DT
Dated: .........................
- 7 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**|**Total**
Unrestricted
funds
**2022**
2021
**£**
**£**
22,121
4,925
11,502
2,763
33,623
7,688
11,397
14,358
50,927
61,336
62,324
75,694|**Total**
Unrestricted
funds
**2022**
2021
**£**
**£**
22,121
4,925
11,502
2,763
33,623
7,688
11,397
14,358
50,927
61,336
62,324
75,694|
|---|---|---|---|---|
||**funds**|**funds**|||
||**2022**|**2022**|**2022**||
||**£**|**£**|**£**||
|**Income from:**|||||
|Donations and legacies
**3**|19,121|3,000|22,121||
|Charitable activities
**4**|11,502|-|11,502||
||||||
|**Total income**|30,623|3,000|33,623||
|**Expenditure on:**|||||
|Raising funds
**5**|11,397|-|11,397||
||||||
|Charitable activities
**6**|47,927|3,000|50,927||
|**Total expenditure**
59,324
**Net movement in funds**
(28,701)
Fund balances at 1 April 2021
10,828
**Fund balances at 31 March 2022**
(17,873)|||||
||59,324|3,000|62,324||
||||||
|||||78,834
10,828|
||10,828|-|10,828||
|||-
(17,873)|||
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 8 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2022**_
|**Notes**|**2022**|**2021**||
|---|---|---|---|
||**£**
**£**|**£**|**£**|
|||||
|**Fixed assets**||||
|Tangible assets
**11**
**Current assets**|||840|
|||||
|Stocks||||
|Debtors
**13**||||
||||9,988|
|||||
|||||
||||10,828|
|||||
|||||
||||10,828|
|||||
|||||
||||10,828|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.
The directors 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
23 / 12 / 2022
The financial statements were approved by the Trustees on .........................
.............................. Joseph Donohue **Trustee**
## **Company Registration No. 11754074**
- 9 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **Charity information**
LCR Pride Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Avenue HQ, 17 Mann Island, Liverpool, L3 1BP.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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 charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The accounts have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.
The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
## **1.2 Going concern**
Covid-19 has had a significant impact on the activities of the charity as income generating events, including the annual Liverpool March with Pride event, have not been able to operate in the same way for the last 2 years. The March with Pride and Pride in Liverpool events were unfortunately cancelled completely for Summer 2021 and so did not generate the income levels seen in previous years. This has has impacted the charity's reserves which stood at (£17,873) at 31 March 2022.
As the Covid-19 restrictions have been lifted since the year end the charity has been able to run their events as previously and the income that has been generated is returning to pre-covid levels which will help to restore the charity's free reserves.
Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the accounts.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 10 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
**(continued)**
## **1.5 Expenditure**
Expenditure reflects all amounts paid and accrued during the year. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. All costs are allocated between the expenditure categories of the Statement of Financial Activities (SOFA) on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, support and governance costs are apportioned on an appropriate basis.
Raising funds include the costs associated with fundraising events which have taken place during the year.
Governance costs represent costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 25% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 11 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **(continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.12 Taxation**
The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on income or gains falling within those exemptions.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 12 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**|**Total**
Unrestricted|**Total**
Unrestricted|
|---|---|---|---|---|
||**funds**|**funds**||funds|
||||||
||**2022**|**2022**|**2022**|2021|
||**£**|**£**|**£**|£|
||||||
|Donations and gifts|8,871|-|8,871|1,525|
|Grants and sponsorship|10,250|3,000|13,250|-|
|Membership fees|-|-|-|3,400|
||||||
||||||
||19,121|3,000|22,121|4,925|
## **4 Charitable activities**
||**Unrestricted**|
**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2022**|**2021**|
||**£**|**£**|
|Sales of services|11,502|2,763|
## **5 Raising funds**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Fundraising and publicity|||
|Advertising|11,397|14,358|
- 13 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **6 Charitable activities**
## **To make the Liverpool City Region the most LGBT plus friendly in the UK**
|Staff costs
Office costs
Project costs
Hire costs
Travel costs
Subscriptions
Grant funding of activities (see note 7)
Share of governance costs (see note 8)
**Analysis by fund**
Unrestricted funds
Restricted funds|**2022**|**2021**|
|---|---|---|
||**£**|**£**|
||||
||33,221|7,987|
||6,527|3,495|
||180|2,395|
||9,160|7,494|
||-|1|
||25|2,251|
||||
||||
||49,113|23,623|
||||
||-|10,386|
||1,814|27,327|
||||
||||
||50,927|61,336|
||||
||||
||47,927|61,336|
||3,000|-|
||||
||||
||50,927|61,336|
||||
||||
|**7**
**Grants payable**|||
|Grants to institutions:
Other|||
||||
||**2022**|2021|
||**£**|£|
||||
||-|10,386|
- 14 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **8 Support costs**
|**Support costs**|**Support costs**|**Support costs**|||||
|---|---|---|---|---|---|---|
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**|||**2022**
Support costs
Governance
costs|||2021|
||||||||
||**£**|**£**|**£**|£|£|£|
||||||||
|Depreciation|-|443|443|-|420|420|
|Independent examination
fee|||||||
||-|550|550|-|500|500|
|Accountancy|-|786|786|-|588|588|
|Legal and professional|-|-|-|-|25,800|25,800|
|Bank charges|-|35|35|-|19|19|
||||||||
||||||||
||-|1,814|1,814|-|27,327|27,327|
||||||||
||||||||
|Analysed between|||||||
|Charitable activities|-|1,814|1,814|-|27,327|27,327|
Total governance costs have been recharged to centre activities.
Governance costs includes payments to the accountants of £550 for independent examination fees and £786 for accountancy services.
## **9 Trustees**
None of the trustees (or any persons connected with them) received any remuneration during the year.
## **10 Employees**
The average monthly number of employees during the year was:
|The average monthly number of employees during the year was:|The average monthly number of employees during the year was:|The average monthly number of employees during the year was:|
|---|---|---|
|**2022**
**2021**
**Number**
**Number**
1
1|||
||||
||1|1|
||||
||||
|**Employment costs**|**2022**|**2021**|
||**£**|**£**|
||||
|Wages and salaries|32,450|7,800|
|Other pension costs|771|187|
||||
||||
||33,221|7,987|
There were no employees whose annual remuneration was more than £60,000.
- 15 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**11**
**Tangible fixed assets**|||
|---|---|---|
|**Cost**
At 1 April 2021
Additions
At 31 March 2022
**Depreciation and impairment**
At 1 April 2021
Depreciation charged in the year
At 31 March 2022
**Carrying amount**
At 31 March 2022
At 31 March 2021|**Fixtures and fittings**||
|||**£**|
||||
|||1,680|
|||1,101|
||||
||||
|||2,781|
||||
||||
|||840|
|||443|
||||
||||
|||1,283|
||||
||||
|||1,498|
||||
||||
|||840|
||||
||||
|**12**
**Financial instruments**|**2022**|**2021**|
|**Carrying amount of financial assets**
Debt instruments measured at amortised cost
**Carrying amount of financial liabilities**
Measured at amortised cost
**13**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
**14**
**Creditors: amounts falling due within one year**|**£**|**£**|
||||
||6,500|1,739|
||||
||||
||1,258|3,617|
||||
||||
||**2022**|**2021**|
||**£**|**£**|
||||
||6,500|1,739|
||||
||||
|**Notes**
Other taxation and social security
Deferred income
**15**
Other creditors
Accruals and deferred income|**2022**|**2021**|
||**£**|**£**|
||||
||13,614|18,505|
||60,000|63,000|
||58|2,279|
||1,200|1,338|
||||
||||
||74,872|85,122|
- 16 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
## **LCR PRIDE FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **15 Deferred income**
|Other deferred income|**2022**|**2021**|
|---|---|---|
||**£**|**£**|
||||
||60,000|63,000|
||||
||||
|Deferred income is included in the financial statements as follows:|||
||||
||**2022**|**2021**|
||**£**|**£**|
|Deferred income is included within:|||
|Current liabilities|60,000|63,000|
|Movements in the year:|||
||||
|Deferred income at 1 April 2021|63,000|-|
|Released from previous periods|(3,000)|-|
|Resources deferred in the year|-|63,000|
|Deferred income at 31 March 2022|||
||||
||60,000|63,000|
## **16 Company limited by guarantee**
LCR Pride Foundation is incorporated under the Companies Act as a company limited by guarantee. The liability of the members is limited to £1.
## **17 Related party transactions**
## **Remuneration of key management personnel**
The remuneration of key management personnel is as follows.
||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
||||
|Aggregate compensation|33,221|7,987|
||||
||||
|There were no related party transactions other than as noted above.|||
## **18 Funds held on behalf of third parties**
As at 31 March 2022 £33,255 (2021: £nil) was held on behalf of CMAGIC. This amount has been excluded from cash at bank and in hand and from trade creditors as it is not charity money.
- 17 -
Doc ID: 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3
Audit trail
Sign
Accounts Title Final accounts fo...re 31.03.2022.pdf File name Document ID 2614c28fffe87ffedd9c4ec02e8814c31aeb22c3 Audit trail date format MM / DD / YYYY Status Signed
**12 / 23 / 2022** Sent for signature to Joseph Donohue 10:11:20 UTC (joseph.donohue@lcrpride.co.uk) from info@lcrpride.co.uk IP: 167.98.211.230 **12 / 23 / 2022** Viewed by Joseph Donohue (joseph.donohue@lcrpride.co.uk) 11:34:57 UTC IP: 82.0.158.149 **12 / 23 / 2022** Signed by Joseph Donohue (joseph.donohue@lcrpride.co.uk) 11:35:29 UTC IP: 82.0.158.149 **12 / 23 / 2022** The document has been completed. 11:35:29 UTC
Sign
Powered by