Company reglstratlon number 11754074 IEngland and Wales) Charity registration number 1185167 (England and Wales) LCR PRIDE FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 LCR PRIDE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Amanda Hilton Stavroula Daoussi David Evans Sheena-marie Williams IAppointed 30 September 20251 IAppointed 30 September 20251 IAppointed 30 September 20251 Charlty number 1185167 Company number 11754074 Registered offi¢e Avenue HQ 17 Mann Island Liverpool L3 IBP Independent examiner Anits Mason BA (Honsl BFP FCA Mitchell Charlesworth Accountants Suite5 C.D,E,F,14th Floor The Plaza 100 Old H311 Street Liverpool La 9QJ Bankers Barclays Bank plc Liverpool Branch 48B- 50 Lord Street Liverpool Merseyside L2 ITD LCR PRIDE FOUNDATION CONTENTS Page Trustees, report Statement of trustees, responsibilities Independent exarniner's report Statement of financial activities BalancÈ shÈÈt Notes to the fi.nancial statements 10-18 LCR PRIDE FOUNDATION TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their 3nnual report and financial statements for the ye3r &nded 31 March 202S. The financial staternents have been prepared in accord3nce with the accounting policies set out in note I 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.. Ststement of Recommended Practice applicable to charities preparing their accounts in 3ccordance with th& Financi31 Reporting Standard applicable in the UK 3nd Republic of I￿land IFRS 1021 leffectiv& l January 20191" Objectives and activities We aim to position Liverpool City Region as the most LG8TQ+ friendly region in the UK. We will do this by highlightinE the daily barriers that LG8TQ+ people living in and visiting the region face, and by creating an inclusive culture where people feel they can fully p3rhcipate and contribute. The scope of our work spans the six boroughs of tho Liverpool City ReEion namely, Halton, KnowslÉy, 5Éfton, St HÈlÈns, Liverpool and Wirral. We purposefully Champlon the rights of LGBTQ+ people within the region in p¢)werful, creattve and empowerlng ways. We use our rea¢h and Inffluence to kÈep LG￿[Q+ lives at the forefront of the rÈgion's development 2nd we work in partnershlp to provide a trusted support network and Infrastrurture to our diverse communitv. Largely the work to 2chieve thÈ objectives in this accounting period have included.. Continued to build relationships and partne￿hipS with community organis3tions, other third sector organisations and statutory services this allows the organis3tion to continue to diversify its income whilst carrying out work in meaningful ways to the LGBTQ+ community. ContinuinB to operate a visual sign-posting brand for LGBTQ+ life in the Liverpool City Region this helps the or£anisation foster partnerships and reach. Continue to present the Liverpool Pride festival. Continue to support LCR Pride Foundation external funded projects including through advice, mentorship. Our charity'5 tru5tee5 operate with due re8ard to the Charities Comtnission rules for Public Benelit and take thi5 guidance into account when making decisions on behalf of the organisation.. Almost all public-facing activities, both digital and in-person carried out by the charity are done $0 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 coneessionary costs are available to ensure the target audience can pathclpate. A conscious effort is rnade to keep any charges to a reasonable level and chargeable aetivities as a minority of the charity's operations. The geographical rernit of the organi5ation 15 identified as the Liverpool City Region and all eff(rt5 are made to ensure that activitie5, even if based in one particular area, are zcces5ible, inforrned and considered a5 part of our operation. There is a large empha515 on digital provision which is not geographically bound as part of our charity'5 core work. The org8nisation is set out to benefit the LGBTQ4 community and the charity uses this definition widely to encomp8ss all those who may identify as part of that community. we 8150 strongly sUPPOrt and encourage the impact of 311ies in our work and outcomes- maintaining our events open to all to participate in. Our organis3tion has a strong eth05 of partnership working as through this, collaboration and joint-working we believ& our work, that of our partners and the wider community can be strengthened and serve our charity's beneficiaries better. LCR PRIDE FOUNDATION TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and performance The last linancial year ha5 continued to be a challenging one for our beneficiaries and charity alike, having faced increased costs due to the costs of living crisis and pre5sure5 on funding. The organisation has managed to sustain it's support both from partner organisations but also corporate sponsor5. Being able to continue to invest this funding into the organisation provided a much needed sustainability and resilience. We continued a number of projects notably our training and community advocacy programrnes such as'you're Safe Here,, continuing to train members of staff acr055 the city region in response to horrifi'c hi8wprofi.le incidents in the city land widerl. This programme has already begun to grow, with potential further growth, incorne and therefore sustainabilitv identified over the next 12-24 months. The organisation has continued to support other partners sustain their work, includin8 the CMAGIC charity, in administration of their coun5elling Service and back of house systems- allowing a gra55 roots initiative to remove barrier5 (access to healthcare) for our community whi15t contributing to our organisations, 5U5tainability and cost of overheads. We also utilised our abilities to respond to Cur￿nt issues affecting our communit¥. The main focus for the charity was the annu31 Pride event in July 2024. Following on from a successful but much reduced in terms of scope, event in 2023, with ongoinE SUPPOrt from our principal sponsor and feedback from those attendin£ In 2023, that a hieher scope event was sustainable, plans were put in place for a much expanded 2024 event. Tradinonally Liverpool Pride events had been free to attend, supported where possible from dona￿n$ and sponsorship. With other prides seeking funding by charging, it was considered that a test event towards a 2nd evwing IFridayl on a charging basis would be tried. Feedback from promoters etc was that with the appropriate pitching and acts available that this was likely to be succe$5ful and p0$5ibly result in a 5urplu5 for ongoing investrnent in the foundation. To ensure as much a prospect of 5ucces5 as possible, Staffing had been increased to cope with the organi5ational responsibilities that a larger event would involve. Litnitation as to ongoing liability was however retained by increasing hours ol existing staff & fixed term contract5 to ensure lon8 term sustainability. As a result Pride became a 3 day event scaled up signifi'cantly from 2023. This consisted of Friday Pride Classical. A paid for event at the Pier Head involving Danny Beard, Pride Classical orchestra lincluding co-opted talentl and most signih-cantly Jake shea￿ of Scissor$ sisters farne. This significantly increased overheads in terms of artists. costs. Additionally a larger stsge was required than normal to accommodate the large presence albeit in terms of costs per event, supply of the same alongside ancillary costs such as securitv etc was per event less by virtue of longer tenure. An addition of a VIP area and bar also sought to increa* revenue strearns. Saturday. Pride March and Pride at the Pier Head. The former was the assembly at St George's Hall plateau followed by a march through the city. No principal sponsor was ivailable for the same, however costs of this element are usually covered by donations. The event at the Pier Head included cornrnunity Sta115 and the free concert. The march attracted in the region of 25.000 attendees and the concert al the Pier Head in the region of 65,000 people both record5. Headlining the concert was Katrina lof The Wave5 1 Eurovision fame) and again this increased signilicantly artists Costs. The VIP facility available on the Friday was repeated on the Saturday. Saturday & Sunday. British Firefighters charnpionship on Lower Water Street. By cornbining this event with Pride. we were able to secure a contribution to the staging costs. Despite a55urance5. the Friday Night IClas5icall event was a 5ignilicant di5appointrnent financialty. This impinged on the over311 costs of the event in so far as 3 signih'cant Ios5 was incurred. A review after Pride was undertaken in September 2024 with a view to considering 811 option5 including the ongoing viability of the charity. LCR PRIDE FOUNDATION TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Flnan¢lal revlew Total income for the year arnounted to £347,439 12024.. £343.4391. Total expenditure amounted to £511.78312024.. £330,677). Overall, this ha5 resulted in deficit forthe year of £164,34412024.' surplu5 £12,762>. This resulted in a delicit of available unrestricted funds of £120,612 at the year end12024.' surplus £43,732>. The charity employs an int&rn81 reporting mech8nism for different activities c8rried out I'classes, in report). These ar& attributed to the main activities that are referred to as 'products'. Each product the foundation ddivers have an aim of breakine even or making a surplus to be re-invested for them to be sustainable and a mechanism for reviewing these each year was set by the board. DurinE this reporring period the most successful products/acDvities for the organisation were.. LCR Pride Festival laforementioned fi.gu￿$) Your Safe Here Connnued support by our main Barclays enabled core staffinE to be maintained prior to Pride. Indeed it is without doubt that had it not been for the same, the financial position ol the Charity would be very diffÈrent. The accounting period cOVe￿d the 2nd year of a 3 year contract with Barclays and their support enabled the onEoin£ stability of the charitv. Following thÈ post Pride reviÈw in SÉptombor 2024, it was Èstablished that significant adjustments We￿ required. OvÉrhÈads of tosts such as staging, security and the basics of providing a signilicanr evÈnt Icirca 50,000 people upwards) had intrÈasÈd significantly bÈyond prÈvious years. FurthÈr artists, costs bÈcame 2 substantive proporrion of outgoings. Whi15t ongoing 5POn50rship had enabled a base to work from, It became clear going forward that needed to change. It was noted that donations promised for the March h2d not been followed through and disappointingly from major local organisations. Significant time both from staff and trustees was taken up chasing the same down in the Autumn of 2024. Additionally other contributors to the event costs were slow in providing their agreed contributicn and this resulted in 2 significant cash flow difficulty. As a result negotiations were entered into with suppliers to eith￿ make payments on phased basis subject to expected payments from other contributors, deferred payments based on obtaining of future funds and lor p￿ferential payment plans with Inte￿$t accruing on said debtors sums by virtue of accepting such payment plans. The p￿MISe was that the CEO and staff would be tasked with both maintainin8 the existing re￿￿OnShIp with Bar¢lays to ensure year 3 funding was paid in addition to securing alternative funding Streams / debt recovery / negotiaknon of payment plans. Unfortunately in addition suppliers to whom payment was due to the foundation also defaulted and ¢kspite threatened legal action, recovery was abandoned on the basis of economics i.e. costs of recovery as opposed to costs to be recovered. It became clear in late 2024 baring significant sponsorship that prospects for a repeat event in 2025 were signif cantly diminished. The trial of a paid event on the Friday had not created the sums hoped and the prospect of a paid event zoing forward had also diminished Signilicantly. In terms of staffing, it became clear with ongoing liabilities and a lack of projected income, that to Ènsure viability of the foundation, that changes wero required. Where applicable, hours were reduced to levels suffi"ciont to carry out basit foundation operations. Fixed term contracts wore not ronewod and through natural wastage other costs were roducod. Additionally one staff member was made redundant as there was no projected tasks for that role in light of the financial status. At the end of tho linancial period, following a resignation, the foundation reverted to an entirely voluntoer-led organisatson. In addition plans were put in place to ￿duce overheads further such as offi.ces. Existing debt & payment plans were settled as agreed following contractual payment of existing sponsorship in th& lirst quarter of the following financial year. There 3r& no expected reserves from this period. The organisation does not have any subsidiaries or trading bodies. LCR PRIDE FOUNDATION TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management The charity is a company limited by guarantee, registered number 1175074, and a reElStered charity number 1185167 governed by its Memorandum & Arricles of Association incorporated 7 January 2019. The Board of Trustees comprised in this period, independent non-executive Trusteesldirectors and Ix executive direttor (Chief Executive Officer) as a co-optee. Independence is regularly reviewed as part of reEular appraisal processes. 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 th& Board of Trustees in line with our Articles of Association and subject to el&ction by the members at the Annual Geneol Meeting. The Board continuously reviews board composition and there is a clear recruitment process to identify individua15 Wlth the right values, skills and behaviours in line with our strategic objectives. Inter&5ted person5 are subject to a rigorous application and intèrview process before joining the board as above. There are no corporate board member5, nor external organisations that appoint board members. All appointments are directed by the Board of Trustees and elected by mernbers at th& AGM. The trustees, who are also the director5 for the purpose of company law, and who served during the year and up to the date of signature of the linancial statements were.. Kriss Hubbard Amanda Hilton Matthew Exlev Nicola Croft-Girv3n Stavroula Daou5SI David Evans IResigned l May 20251 (Resigned 1 Decembei 20251 IResign&d 31 October 20251 IAppointed 30 September 20251 IAppointed 30 SÈptember 20251 IAppointed 30 September 2025 and resigned 5 January 20261 IAppointed 30 September 20251 P8uI Mosson Sheena-marie Williarn5 Trustee training Trustees are offered relevant training as part of their development. They are encouraged to acce55 training opportunitie5 a5 appropriate and a5 a minimum, to read the Charity Cornmission's guidance, 'The E55ential Trustee,. Remuneration Trustee5 Trustees of LCR Pride Found3tion receive no remuner3tion for their work, other than reimbursement of basic expenses. Reference and Administrztive Detail The charity is'LCR Pride Foundation, and operates primarily under this narne. Activities, usually event5, rnay frorn time to tirne operate under their own narne, with clear mark that they are 'delivered by LCR Pride Foundation,. Examples of this during thi5 reporting period are Ibut not limited tol.. March With Pride Pride In Liv&rpool Shop with Pride LCR Pride Foundation is 8 charitable comp8ny limited by guarantee. registered in England and Wales Icharity number.. 1185167 and Company number.. 117540741. The principal and registered address of LCR Pride Foundation is: Avenue HQ 17 Mann Island, Liverpool Waterfront, L3 IBP. LCR PRIDE FOUNDATION TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORTI ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Funds held as cust¢)dlan trustee At the year end the charity was holding £50,480 on behalf of CMAGIC. Small wmpany provisions This report has been prepared in accordance with the special provision5 relating to small cornpanies With part 15 of the Companie5 Act 2006. tccs, port was approved by the Board of Trustees. Amanda Hilton Trustee Dated.. 3010112026 LCR PRIDE FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also th& 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 3nd United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare fi.nancial statements for each financial year which ghie 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 h-nancial statements, the trustees are required tts.. select 5Ultable accounting policies and then apply thern con515tentlv.' observe the methods and principles in the Charities SORP,. make jud8ement5 and e5timate5 that are reasonable and prudent,. State whether applicable UK Accounting Standards have been followed, subject to any material departure5 disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is in3ppropriate to presum& that the charity will continue in operation. The trust&es are responsible for keeping adequate accounting records that disclos& with reason3ble 3ccurary at any time the financial position of the charity and enable them to ensure that the financi81 statements comply with the Companies Act 2006. They are also r&sponsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevèntion and detÈction of fraud and other irregu12ritiÈS. LCR PRIDE FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LCR PRIDE FOUNDATION I report to the trustees on my examinatr.on of the financial ststements of LCR Pride Foundation (the charity) for the year ended 31 March 2025. Responsibilities and basi5 of report As the trustees of the charity land also its directors for the purposes of company lawl, you are responsible for the preparanon of the fi"nantial statements in accordance with the requirements of the Companies Act 20(E. Having satislied myself that the linancial staternents of the charity are not required to be audited under Part 16 01 the Companie5 Act 2006 and are eligible for independent exarnination, I report in respect of rny eXaMinat￿n of the charity'5 financial staternents carried out under section 145 of the Charitie5 Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Act 2011. Independent examiner's statement Since the charitV'5 gross income exceeded £250,000 your examiner must be a rnember of a body listed in section 145 of the 2011 Act. I confirm that l arn qualilied to undertake the examination because l am a rnernber of the Institute of Chartered Accountant5 in England and Wale5, which 15 one of the listed bodie5. I have completed my examination. I conh'rm that no m3tter5 have come to my attention in connection with the examination giving m& cause to believe that in any material r&spect.. accounting records were not kept in respect of the charity as required by section 386 of the Cornpanies Act 2006. the financial statements do not accord with those records,. or the financial statements do not comply with the accounting requirements of section 396 of the cOm￿nI&S Act 2006 other than any requir&ment th3t the financi31 statements give a true and f3ir view, which is not 8 matter considered as part of an independent examination,. or the fi'nancial 5tatement5 have not been prepared in accordance with the method5 and principle5 of the Statement of Recommended Practice for accounting and reporting by charitie5 applicable to charities preparing their financial staternents in accordance with the Financial Reporhng Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to whi ch attention should be drawn in this report in order to enable 3 prO￿r understanding of th& financi31 statements to be reached. Anita Mason 8AIHonsl BFP FCA Mitchell Charlesworth Suites C,D,E&F 14th Floor The PLa2a 100 Old Hall Street Livepool L3 9QJ Dated.. 30 January 2026 LCR PRIDE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Unrestricted funds funds 2025 2024 Notes Income from: Donations and legacies Charitable activities 229,869 117.570 279,394 64.045 Total Income 347,439 343,439 enditure on- Raising funds 35,789 33,159 Charitable activities 475,994 297,518 Total expendlture 511,783 330,677 Net movement in funds 1164,3441 12,762 Fund balances at l April 2024 43,732 30,970 Fund balances at 31 March 2025 1120.6121 43.732 The st3tomÉnt of tin3nci21 activities includes all gains and losses ￿COgniSed in tho year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with tho rÈquiremÈnts for an income 2nd expenditure account undÈr the Companies Act 2006. LCR PRIDE FOUNDATION BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets io 4,347 6.379 Current assets Stocks Debtors Cash at bank and in h3nd 4,009 4,714 14,209 37,998 12 97.726 101,739 56,921 Creditors: amounts falling due wrthin one year 13 1226.6981 119,5681 Net current Iliabilitiesllassets 1124,9591 37,353 Total assets less current liabiliknes 1120,6121 43,732 Funds of the Charity Unrestricted funds 1120,6121 43,732 1120,6121 43,732 The cornpany 15 entitled to the exemption frotn the audit requirement contained in secknon 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors acknowledge their re5pon5ibilities for cornplying with the requirement5 of the Companie5 Act 2006 with respect to accounting record5 and the preparation of fi'nancial 5tatement5. The members have not required the comp8ny to obtain 8n audit of its financial ststements for the sear in question in accordance with section 476. These hnancial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Theft ancial statements were approved by the Trustees on 3010112026 Atnanda Hilton Trustee Company ReKlstradon No. 11754074 LCR PRIDE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢counYng pollcles Chzrity information LCR Pride Foundation is a pri￿te company limited by guarantee incorporated in England and Wales. The registered offi.ce is Avenue HCL 17 Mann Island, Liverpool, L3 IBP. 1.1 A¢¢ounting corNention The financial statements h8ve been prepared in accord3nce with the charity's Memorandum and Artic￿8 of Association, the Compani&s Act 2006 and 'AccountinB and Reporting by Charities.. Statement of Recommend&d Practice applicable to charities preparing their accounts in accordance with th& Financial Reporting Standard applicable in the LJK and Republic of Ireland IFRS 1021 (effective l January 20191 The charity is a Public Benefit Entity as defin&d by FRS 102. The h'nancial Statements are prepared in sterlin& which is the functional currency of the charity. Monetary amounts in these lin8nci81 statements are rounded to the nearest £. The account5 have been prepared on the historical c05t 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 I not to prepare a Statement of C8sh Flows. 1.2 Going concern The charity has made a loss for the year of £164,344 and h2s net liabilities for the year of £120, 612. The increased costs relating to Pride 2024, together with a disappointing turnout at paid events, has meant the charity has needed to rely on their deferred income to be able to fund their activities. Following the year end the trustees have undertaken a full review of the charity's operations and reduced costs, including the cancellation of the Pride 2025 event, to ensure the future continuation of the charity. These rneasures have been explained in the financial review section of the trustees report. The charity is also now fully run b¥ volunteers to help reduce the cost5. A5 a result, at the time of approving the linancial ststement5, the trustees have a reasonable expectation that the charity ha5 adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the linancial staternents. 1.3 Charitable funds UnrestrittÈd funds are available for use at the discretion of the trustÈos in furtherance of their charitable objectives. Restricted funds are subject to specific Conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted fund5 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 perforrnance condition5 have been tnet, the amount5 can be meisured reliably, and it 15 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. Incorne tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recogni5ed at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notilied 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. LCR PRIDE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continuedl 1.5 Expenditure Expenditure reflects all arnount5 paid and accrued during the year. Expenditure include5 any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. All costs are allocated tEtween the expenditure categories of the Statement of Financial Activities ISOFAI on a basis designed to reflect the use of the resource. Costs relating to a parkncular activity are allocated directly. Support and governance C¢￿tS are apporhoned on an appropriate basis. Raising funds include the costs associated with fundraising &vents which have t8ken place during the year. Governance costs represent costs associated with meeting the constitution818nd statutory requirements of the ch8ritv 8nd include the independent examination fees and costs link&d to the strategic man8gement of the charity. 1.6 Tanglble fixed assets Tangible lixed a55et5 are initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impairment1055e5. Depreciation is recognised so as to write off the cost or valuation of assets less their ￿SIdUal values over their useful lives on the following bases.. Fixtures and h"thngs 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 3s5et, and is recognised in the statement of linancial activitie5. 1.7 Impairmerrt of fixed assets At e3ch reporting end date, the ch8rity reviews the c8rrying amount5 of its tangible 8ssets to deterrnine whether there is any indication that those assets have suffered 8n irnpairrnent loss. If any such indication exists, the recoverable 8mount of the asset is &stim8ted in order to deterrnine the extent of the irnpairment loss lif anyl. 1.8 Cash and cash equivalents Cash and cash eouivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with oriEinal maturities of three months or less, and bank overdrafts. 1.9 Flnanclal Instruments The charity has elected to 8pply the provisions of Section 11 'B8sic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its fi'nancial instruments. Fin8nci31 instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Fin3ncial assets and li3bilities are offset, with the net 3mounts presented in the financial statements, when there is a legally enforceable right to set off the recognised 3mounts and there is an intention to settle on 3 net basis or to realise the asset and settle the li3bility simultaneously. BosicfinGnciul ossets Basic financi31 assets, which include debtors and cash and bank balances. are initi811y measured at transaction price including transaction costs 3nd are subsequently carried at amortised cost using the effective interest method unless the arrangèment constitutes 3 financing transaction, where the transaction is measured at the present value of the future receipts discounted at 3 market rate of interest. Financial 3SS&ts classified as receivable vAthin one year are not amottised. LCR PRIDE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continuedl BosicfinGnciul liabtilities Basic financial liabilities, including creditors 3nd bank loans are initially recognised at transaction price unless the arrangement constitutes 8 tinancing transaction. where the debt instrument is me8sured at th& present valu& of the future p8yments discounted at a market rate of interest. Financial liabilities classih'ed as payable within one year ar& not amorknsed. 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 a￿ recognised initially at transaction price and subsequently measured at amorrised cost using the effe¢trve Interest method. Derecognltion oAAlnunclulliobilllies Financial liabilities are derecognised when the charity's contr3ctU31 obligations expire or are discharEed or cancelled. 1.10 Employee beneffts The cost of any unused holiday entitlement is ￿tognISed in the period in which the employee's servites are received. Termination benefi'ts are recognised immediately a5 an expense when the charity 15 demonstrably cotnmitted to terminate the ernployment of an employee or to provide termination benelit5. 1.11 Retirement benethts Paym&nts to detined contribution retirement benefit schemes are charged as an expense 8S they fall due. 1.12 Taxation The charity benefits frorn various exemptions from taxation afforded by tax legislation and is not liable to corporation tax on incorne or Eains falling within those exemptions. Crltical accounting estimates and ludgements In the application of the charity'5 accounting policie5, the trustees are required to rnake judgements, estimates and 3ssumption5 about the c3rrying amount of assets and liabilities that are not readily 3PP3rent frorn other sources. The estimates and 8ssoci8ted 8ssumption5 3re based on historical experience and other factors that are considered to be relevant. Actual results rnay differfrom these estim3tes. The estimate5 and underlying assumptions are reviewed on an ongoing b35is. Revisions to accounting estimates 3re recognised in the period in which the estimate is revised where the revision affects only that perirKJ, or in the period of the revision and future periods where the revision 3ffects both current and future periods. There were considered to be no critical accounting estimates or judgements applied in the preparation of these financi31 statements. LCR PRIDE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Income from donatlons and legacles Unrestricted fvnds 2025 Unrestricted funds 2024 Donations and eifts Grants Sponsorship 6,670 10,000 213,199 8,224 80.340 190,830 229,869 279.394 Charitable zclivitie5 Unrestrirted Unrestri¢ted funds lunds 202S 2024 Sales of services Management fees 110,070 7,SOO 57,795 6,250 117,570 64,045 Rai5ingfunds Unrestricted Unrestricted funds funds 2025 2024 Advertising 35,789 33,159 LCR PRIDE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Charltable acllvlyes To make the Llverpool Clty Reglon the most LGBTQ+ frlendly In the UK 202S 2024 Staff costs Office cost5 Project costs Event costs Travel costs Subscriptions 93,651 25,285 57,041 278,651 4,224 130 112.866 24,360 49,423 93.174 6,379 803 458,982 287,005 Share of support costs (see note 71 Share of governance costslsee note 71 1,390 9.123 16,166 475,994 297,518 14 LCR PRIDE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support costs Governance costs 2025 Support costs Governance costs 2024 Depreciation stsff Training 2,032 2.032 1.403 1.403 1,390 1,390 Independent examination fee 715 715 670 670 Accountancy Legal and professional Bank charges VAT penalties Bad debts 4,760 24 4,760 24 3,582 3,582 153 153 100 loo 400 8,063 19 400 8,063 19 3,368 3,368 PAYE interest 16,166 17,012 1,390 9.123 10,513 Analysed betwÈen Charitable activities 16,166 17.012 1,390 9.123 10,513 Total governance and support costs have been recharged to centre activities. Governance c05t5 include5 payment5 to the accountants of £71512024.. £6701 for independent examination fees and £4.76012024.. £3,582) for accountancy, payroll and other profe55ional 5ervice5. Support cost5 include payrnents to the accountants of £64912024.. £4751 for staff training in relation to bookkeeping. Trustees None of the trustees lor any persons connected with them) received any remuneration during the year. Employees The average rnonthly number of employees during the ye3r wa5.. 2025 Number 2024 Number LCR PRIDE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Employees (Continuedl Employment Costs 2025 2024 Wages and salaries Social security costs Other pension costs 89.769 2,068 1,814 106,051 4,447 2,368 93,651 112,866 Redund3ncy and termination payments totalling £6,728 were made in the reporhng period. There were no employees whose annual remuner3tion was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2025 2024 Aggregate compensation 42.526 55,201 10 Tan8lble fixed assets Fixtures and ffthn Cost At l April 2024 9.854 At 31 March 2025 9,854 Depreclation and Impalrment At l April 2024 Depreciation charged in the year 3,475 2,032 At 31 March 2025 5,507 Carrying amount At 31 March 2025 4.347 At 31 March 2024 6,379 LCR PRIDE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 li Flnanclal Instruments 2025 Z024 Carrying amount of thnzncial assets Debt instruments measured at amortised cost 97,730 52,207 Carrying amount of thnancial liabilities Measured at amortised cost 7.420 3,768 12 Debtors 2025 2024 Amounts fallin8 due within one year.. Trade debtors Other debtors 14,166 43 14,209 13 Creditors.. amounts frallln8 due wlthln one year 2025 2024 Notes Other taxation and social security Deferred incorne Other creditors Accrua15 39,278 180.000 85 15,800 14 508 7,335 3.260 226,698 19,568 14 Deferred income 2025 Z024 Other deferred income 180,000 Deferred income is included in the financial statements as follows.. 2025 2024 Deferred incorne is included within.. Current liabilities 180,000 Movements in the year- LCR PRIDE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 14 Deferred income (Continuedl Deferred income at l April 2024 Resources deferred in the year 180,000 Deferred income at 31 M8rch 2025 180.000 15 Retlrement bene￿t schemes 202S 2024 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 1.814 2,368 The charity operates a deh'ned contribution pension scheme for all qualifying employees. The assets of the Scheme are held separately from those of the charity in an independently administered fund. 16 Company Ilmlted by guarantee LCR Pride Foundation is incorporated under the Companies Act as a company limited by guarantee. Tke liability of the members is limited to £1. 17 Funds held on behalf of thlrd partles As at 31 March 2025 £50,48012024.. £54,495) was held on behalf of CMAGIC. This amount has been excluded from cash at bank and in hand as it is not charity rnonev.