# **LS-TEN Limited (A company limited by guarantee)**
**Trustees’ Report and Financial Statements For the Year Ended 31[st] December 2022**
**Company registration number: 11753606 Charity Number: 1191532**
**LS-TEN Limited Trustees’ Report and Financial Statements for the year ended 31 December 2022**
## **Contents**
||Page:|
|---|---|
|**Report of the Trustees and Strategic Report**||
|Chair’s Statement|2-4|
|Financial Review|5|
|Structure, Governance and Management|5-7|
|Statement of Responsibilities|7|
|**Independent Examiner’s Report**|8-9|
|**Financial Statements**||
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Statement of Cash Flows|12|
|Notes to the Financial Statements|13-21|
**LS-TEN Limited For the year ended 31 December 2022 Report of the Trustees**
The Trustees of LS-TEN Limited, who are also Directors for the purposes of the Companies Act, are pleased to present their Annual Report together with the Financial Statements for the year ended 31 December 2022, which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
## **Reference and administrative details**
Charity number: 1191532 Company number: 11753606
## **Directors and trustees**
The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows:
**Trustees** Angus Martin (Chair) Clare Jarvis Edward Carlisle David Mitchell David Smith Eleanore Pickard (Appointed 27 January 2023) **Senior management** Carl Harrison Jonathan Wilson Amy Harrison Liam Hunsdale (resigned 31/12/2021) Darren Reddyhoff (appointed 01/01/2022, resigned 31/12/2022) **Registered office** Unit 1, Airedale Industrial Estate Kitson Road Leeds West Yorkshire LS10 1NT **Independent Examiner** Sally Appleton Saffery LLP Mitre House, North Park Road Harrogate, HG1 5RX **Main bankers** Lloyds Bank plc 25 Gresham Street London EC2V 7HN
Page **1**
**LS-TEN Limited For the year ended 31 December 2022 Report of the Trustees**
## **Chair’s report**
During the period LS-TEN (“the charity“) delivered across three different operational activities which are covered in more detail below.
## _**The School**_
Over the course of 2022 the charity worked with 9 secondary schools and looked after a total of 63 Key Stage 3 and 4 learners. 5 learners completed Year 11 with all gaining at least 1 GCSE grade, and all achieved a post 16 option.
Unfortunately, the school experienced a difficult Ofsted inspection in October 2022, (which was reported on to the Schools who refer pupils to us via the local authority in November and published on the 20[th] January 2023), and received a grading of inadequate. This impacted learner numbers due to host schools reintegrating or moving several learners to other settings.
In response to the Ofsted report the school has made a number of significant changes:
- A new head teacher was appointed in April 2023 to lead the school. She has local knowledge, professional qualifications and experience, all of which are recognised and valued by the schools which refer pupils to us.
- There have been staff changes in the school.
- A comprehensive improvement plan was prepared which covered all areas of the school including teaching and learning. The actions within the plan have either already been implemented or significant progress has been made.
- An experienced headteacher with significant education experienced has been appointed to the Board.
- An Education Subcommittee has been established to focus on the school. The Subcommittee includes trustees from the Board but also includes co-opted members who are experienced teachers and knowledgeable of alternative provision settings.
- There has been a renewed focus on safeguarding, and, at our request, the school was inspected by the Leeds City Council School Safeguarding Team in February and May 2023 passing all aspects of the inspection and receiving positive feedback. This has been shared with all schools and relevant stakeholders.
- The health and safety policies and procedures have been reviewed and, again at our request, we had an inspection by Leeds City Council, Schools Health and Safety team. The inspection was successful, they identified areas of good practice and praised the developments. Again this has been well received by all stakeholders.
- In 2023 there has been significant investment in the school infrastructure with new classrooms being created, improved toilets and shower facilities, a complete redecoration of the site and improved security.
- New learning resources have been either purchased or developed to support the teachers and pupils.
Page **2**
**LS-TEN Limited For the year ended 31 December 2022 Report of the Trustees**
These changes have already had an impact in 2023, but the Board recognises that there needs to be continuous improvement to ensure that the school can thrive and achieve a better outcome when next visited by Ofsted.
## _**Skatepark**_
The skatepark increased footfall over the year with a growth in both Skateboarding and Roller-skating. During the year several events were held and two that gained wide media recognition were the “VANs Shop Riot” and “Northern Roll”.
The outdoor skatepark was completed during the early part of the year and opened in time for the Summer, thereby increasing accessibility. This is included within the tangible assets, see note 9.
## _**Community**_
This department leads the external delivery of wheeled sports, supports coaching across all school sessions and delivers school holiday provision through the Get Active Extreme Camps.
LS-TEN also led the Enhanced Youth Work contract working as part of Leeds Youth Alliance, (“LYA”), with other third sector organisations delivering youth work primarily in South Leeds but as part of LYA’s wider Leeds. LS-TEN has led both onsite youth clubs and detached youth work sessions.
It is hoped that the positive impact of the Enhanced Youth Work contract will continue to develop as it is a 3-year contract with the opportunity for it to be extended by up to a further 2 years. The contract has received positive feedback from the local authority.
To help develop the Skatepark and Community operations, a Board subcommittee has been established to focus on these activities.
## _**Summary and the future**_
This has been a year of mixed results.
The Skatepark and Community departments have both been working with increased numbers due to growth in Roller Skating, Skateboarding and the addition of the Youth Work.
Unfortunately, the School was affected towards the end of the year by the poor Ofsted grading. The effect of the grading has been more noticeable in 2023 with schools being reluctant to refer pupils to us. This has led to a decline in pupil numbers. Actions continue to be taken to manage costs and to rebuild confidence with the schools that refer pupils, but it is unlikely that there will be significant improvement until a new Ofsted inspection has been carried out with a positive outcome. It is hoped that the next inspection will be during 2023.
Page **3**
**LS-TEN Limited For the year ended 31 December 2022 Report of the Trustees**
## **Purpose and activities**
LS-Ten Limited was established on 7 January 2019 to operate a skatepark and to provide an alternate education provision. Both these activities are undertaken at the charity’s premises in Kitson Road, Leeds.
The company registered as a charity on the 29 September 2020.
The objects of the Charity are:
1. To act as a resource for children and young people up to the age of 19 years old living in Leeds, West Yorkshire and surrounding areas by providing advice and assistance and organising programmes of physical activity, educational and other activities by means of:
- a. advancing life and helping young people by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals,
- b. advancing the education of the pupils of the Charity by operating an alternative education provision to support school in Leeds and the surrounding area.
To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity of disability, financial hardship, or social circumstances with the object of improving their conditions of life.
2. To promote social inclusion for the public benefit by preventing people who are ex-service personal or ex-offenders from becoming socially excluded because they are unable to reintegrate into mainstream society, in particular by:
- a. providing a local network group that encourages and enables ex-service personnel to gain access to other networks and participate more effectively with the wider community;
- b. providing a local network group that encourages and enables ex-offenders to gain access to other networks and participate more effectively with the wider community;
- c. providing work experience, training and job opportunities to ex-service and ex-offenders.
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives and in its planning activities.
Page **4**
**LS-TEN Limited For the year ended 31 December 2022 Report of the Trustees**
## **Financial Review**
The Board confirms that the annual report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (published in October 2019).
During the year the charity generated £952,160 of unrestricted income and £26,216 of restricted income to provide a total income of £978,376, (2021: £876,741). Unrestricted expenditure totalled £891,029 and restricted expenditure totalled £26,216 to give total expenditure of £917,245, (2021: £669,874).
Net income totalled £61,131, (2021: £206,867) which has been transferred to reserves. At the 31 December 2022 the charity had total funds of £320,446 (31 December 2021: £259,315).
## **Reserves policy**
In September 2023 the Board undertook a detailed review of the charity’s financial position and looked forward using the forecast for the year ending 31 December 2023 and the budget for the year ending 31 December 2024. The Board is satisfied that the charity is sufficiently resourced to be able to continue operating throughout 2023 and beyond **.**
The Board is in the process of developing a formal reserves policy.
## **Going concern**
The Board has considered the current position and the future prospects of the charity, and it is satisfied that the charity had sufficient resources to continue to operate and to meet its ongoing liabilities.
The Board is satisfied that it is appropriate for the accounts to be prepared on a going concern basis.
## **Structure, Governance and Management**
## _**Appointment of Trustees**_
The trustees are appointed by an ordinary resolution of the members of the charity at a general meeting. There minimum number of trustees is one and there is no maximum. At each annual general meeting one third, (or if their number is not three or a multiple of three, then the number nearest to one third), must retire. Those with longest service retire first and retiring trustees may be reappointed. There is no maximum period of service for trustees.
## _**Meetings**_
The Board meets regularly to discuss the charity’s strategy and to receive reports on the various operations and reports on specific areas such as safeguarding and health and safety. The Board also agrees the budget each year and receives financial reports to enable it to monitor performance against the budget.
Page **5**
**LS-TEN Limited For the year ended 31 December 2022 Report of the Trustees**
In between Board meetings the Chair and other trustees with specific responsibilities meet with the charity’s senior management team to assess progress. Matters arising from these meetings are discussed at the next Board meeting.
## _**Policies and Procedures adopted for Induction and Training of Trustees**_
The Board discusses the skills requirements for the trustee group at each Board meeting and undertakes a skills audit at least once a year. The recruitment of a new trustee is informed by the results of the skills audit and is undertaken using a mix of open advertisement, discussions with interested parties and discussions with contacts in other local charities. Individuals who express an interest are required to meet with the Chair and are given the opportunity to visit the charity and to speak with the Chief Executive Officer. A proposal to appoint a trustee is taken to the Board for discussion and either approved, (subject to suitable references), or rejected. If the Board approves the appointment, then references are sought and circulated to the Board for comment before the appointment is made.
Once appointed the newly elected trustee undergoes an induction programme.
The charity keeps up to date with key developments relevant to the charity and its operations. Some of the training is mandatory given the charity’s work with young people and as a school. Training is provided to trustees and a log is kept of what training has been undertaken by each trustee.
## _**Pay policy for senior staff**_
The senior management team is responsible for the setting the remuneration of employees when they start employment but the Board monitors recruitment and remuneration at Board meetings. Thereafter all pay or other remuneration changes are agreed by the Board.
The remuneration of the senior management team is the responsibility of the Board and is reviewed annually. In setting the pay of the senior management team the Board takes note of an individual’s performance, the financial position of the charity and the amounts paid to individuals in similar roles outside of the charity.
## _**Risk management**_
The trustees, in consultation with the senior executive team, have considered the key risks to which the charity is exposed. A risk register has been prepared which enables the trustees to monitor the risks and the mitigating actions that have been put in place to manage these risks. The risk register is reported on and reviewed at each Board meeting.
The charity also has a comprehensive suite of policies and procedures that address specific areas of risk. These policies are regularly reviewed by the senior management and the trustees. Appropriate staff training is provided and recorded, and compliance is monitored.
Page **6**
**LS-TEN Limited For the year ended 31 December 2022 Report of the Trustees**
## _**Fundraising Policy**_
The charity does not employ a fundraiser and does not engage third parties to fundraise on its behalf. There have been, however, a small number of unsolicited donations from the general public. During the period there have been no complaints regarding the charity’s fundraising activities.
## **Trustees’ Responsibilities Statement**
The trustees (who are also directors of LS-TEN for the purposes of company law) are responsible for preparing the Trustees’ Annual 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.
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 (FRS 102),
- make judgements and estimates that are reasonable and prudent.
- state whether applicable 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 business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
By order of the Board Approved by the Trustees on 27 October 2023 and signed on their behalf by:
## **Angus Martin**
Chair of Trustees Registered Office
Unit 1 Airedale Industrial Estate, Kitson Road, Leeds, West Yorkshire, United Kingdom, LS10 1NT
Page **7**
**LS-TEN Limited For the year ended 31 December 2022 Independent Examiner’s Report to the trustees of LS-TEN Limited (‘the Company’)**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Respective responsibilities of trustees and examiner**
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants England and Wales which is one of the listed bodies.
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2.
- the accounts do not accord with those records; or
3. the accounts 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
Page **8**
**LS-TEN Limited For the year ended 31 December 2022 Independent Examiner’s Report to the trustees of LS-TEN Limited (‘the Company’)**
4. the accounts 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).
## **Other matters**
We draw attention to note 1 of the financial statements which describes the trustees considerations on the results of a recent regulatory inspection and its impact on the going concern position adopted.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Name: Sally Appleton Institute of Chartered Accountants England and Wales
Address: Saffery LLP Mitre House North Park Road Harrogate HG1 5RX
Date: 27 october 2023
Page **9**
## **LS-TEN Limited For the year ended 31 December 2022 Statement of Financial Activities (Incorporating statutory income & expenditure account)**
|**Notes**
**Unrestricted**
**Funds**
**£**
**Income:**
Donations and legacies
**2**
15,373
Income from charitable
activities
**3**
929,998
Other trading activities
**4**
6,789
_________
**Total income**
**952,160**
_________
**Expenditure on:**
Costs of raising funds
**5**
54,872
Expenditure on charitable
activities
**6**
836,157
_________
**Total expenditure**
**891,029**
_________
**Net income**
**61,131**
**Transfers between funds**
**-**
_________
**Net movements in funds**
**61,131**
**Reconciliation of funds:**
Total funds brought forward
**12**
259,315
_________
**Total funds carried forward**
**12**
**320,446**
_ __ ___|**Restricted**
**Total Funds**
**Total Funds**
**Funds**
**2022**
**2021**
**£**
**£**
**£**
26,216
41,589
229,684
-
929,998
637,062
-
6,789
9,995
_________
_________
_________
**26,216**
**978,376**
**876,741**
_________
_________
_________
-
54,872
27,589
26,216
862,373
642,285
_________
_________
_________
**26,216**
**917,245**
**669,874**
_________
_________
_________
**-**
**61,131**
**206,867**
**-**
**-**
**-**
_________
_________
_________
**-**
**61,131**
**206,867**
-
259,315
52,448
_________
_________
_________
**-**
**320,446**
**259,315**
_ __ ___
_ __ ___
_ __ ___|
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All amounts relate to continuing activities within the United Kingdom.
Page **10**
## **LS-TEN Limited For the year ended 31 December 2022 Balance Sheet**
|**Notes**
**£**
**Fixed assets**
Tangible fixed assets
**9**
**Current assets**
Debtors
**10**
234,077
Cash at bank and in hand
193,989
_________
428,066
**Current liabilities: amounts falling due**
**within one year**
**11**
(166,751)
_________
**Net assets**
**Funds**
Unrestricted funds – General
**12**
Restricted funds
**Total funds**
**12**|_
|**2022**
**£**
**£**
59,131
44,147
249,835
_________
293,982
(50,131)
_________
**261,315**
________
**320,446**
__ ___
320,446
-
________
**320,446**
_ __ __|**2021**
**£**
15,464
**243,851**
_________
**259,315**
|
|---|---|---|---|
||
_||_ __ ___
259,315
-
_________
**259,315**
_ __ ___|
For the year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The trustees have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board of Trustees on 27 October 2023 and signed on its behalf by:
## **Angus Martin**
Chair of Trustees Company registration no: 11753606
The notes on pages 12 to 21 form part of these financial statements.
Page **11**
## **LS-TEN Limited For the year ended 31 December 2022 Statement of Cash Flows**
|**2022**
**£**
**Cash flows from operating activities:**
Net income for the financial year
**61,131**
Adjustments for:
_________
Depreciation
7,551
(Increase) in debtors
(189,930)
Increase/(Decrease) in creditors
116,620
_________
**Net cash used in operating activities**
**(4,628)**
_________
**Cash flows from investing activities:**
Purchase of property, plant and equipment
(58,750)
Disposal of property, plant and equipment
7,532
_________
**Net cash provided by investing activities**
**(51,218)**
_________
**Cash flows from financing activities:**
**Change in cash and cash equivalents in the year**
**(55,846)**
_ __ ___
Cash and cash equivalents at the beginning of the year
249,835
_________
**Cash and cash equivalents at the end of the year**
**193,989**
_ __ ___
**Analysis of changes in net debt**
**Balance as**
**at 2021**
**Cash flows**
**Other non-**
**cash**
**changes**
**£**
**£**
**£**
**Cash**
249,835
(55,846)
-
_________
_________
_________
**Total**
**249,835**
**(55,846)**
**-**
|**2021**
**£**
**206,867**
_________
737
(18,040)
(28,045)
_________
**161,519**
_________
(7,343)
4,365
_________
**(2,978)**
_________
**158,541**
_ __ ___
91,294
_________
**249,835**
|
|---|---|
||_ __ ___
**Balance as**
**2022**
**£**
193,989
_________
**193,989**
|
Page **12**
**LS-TEN Limited For the year ended 31 December 2022 Notes to the financial statements**
## **1 Accounting policies**
## **Accounting convention**
These financial statements have been prepared in accordance with Statement of Recommended Practice ‘Accounting and Reporting by Charities’ (issued in December 2019), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
LS-TEN Limited meets the definition of a public benefit entity under FRS 102.
## **Going Concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the company has 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 financial statements.
The Board has considered the current position and the future prospects of the charity.
The facilities have been upgraded, the quality of staffing has been increased and there has been investment in both training and curriculum development platforms. There have also been recent independent quality assurance visits that have recognised the significant improvements that have been made at the school. The Board is confident that these improvements will be recognised by Ofsted when they undertake their next visit.
The Board is satisfied that the charity had sufficient resources to continue to operate and to meet its ongoing liabilities and that it is appropriate for the accounts to be prepared on a going concern basis.
## **Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Donations and Legacies - These amounts are included in full in the Statement of Financial Activities in the year in which they are receivable unless they include terms and conditions that must be met before the entity is entitled.
Charitable activities - Grants receivable where the income is related to performance and specific deliverables are accounted for as the entity earns the right to consideration by its performance. Grants where entitlement is not conditional on the delivery of a specific performance by the entity are recognised when the entity becomes unconditionally entitled to the grant. Where grants are received during the year in respect of future periods, the amount of the grant which relates to future periods is deferred and is included within creditors. Income from education sales and skatepark entry is included within incoming resources in the year the service or visit occurs.
Page **13**
**LS-TEN Limited For the year ended 31 December 2022 Notes to the financial statements**
## **1 Accounting policies (continued)**
Other trading activities – Café income, rental income, hire income and other income is recognised in full for activities undertaken during the year. Income relating to activities taking place in the following year received in advance is deferred.
## **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Raising funds - are those costs incurred in seeking voluntary contributions or consultancy income. They do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of the charitable activity of awarding grants and project development.
Charitable activities - costs of education activities, the provision of the indoor skatepark and other activities undertaken to further the purposes of the charity and their associated support costs.
Other costs - represent those incurred in connection with governance and compliance with constitutional and statutory requirements.
## **Tangible assets**
Tangible 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:
Plant and equipment 20% Straight Line Motor Vehicles 33% Straight Line Refurbishments 20% 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 credited or charged to profit or loss.
## **Cash and cash equivalents**
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
## **Financial instruments**
The company 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 company's statement of financial position when the company 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.
Page **14**
**LS-TEN Limited For the year ended 31 December 2022 Notes to the financial statements**
## **1 Accounting policies (continued)**
## **Pension costs**
LS-TEN contributes to defined contribution pension schemes including to individual personal pensions. The assets of the schemes are held separately from those of the charity. Pension costs charged in the statement of financial activities in respect of pension costs are the contributions payable in the year.
## **Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity’s work.
## **2 Donations and legacies**
|**Unrestricted**
**Fund**
**£**
Donations
7,231
Grants
8,142
_________
**15,373**
_ __ ___
**Donations and legacies – prior period**
**Unrestricted**
**Fund**
**£**
Donations
10,746
Grants
155,182
_________
**165,928**
_ __ ___|**Restricted**
**Fund**
**£**
-
26,216
_________
**26,216**
_ __ ___
**Restricted**
**Fund**
**£**
-
63,756
_________
**63,756**
_ __ ___|**2022**
**Total**
**£**
7,231
34,358
_________
**41,589**
|
|---|---|---|
|||_ __ ___
**2021**
**Total**
**£**
10,746
218,938
_________
**229,684**
_ __ ___|
The income from donations and legacies was £41,589 (2021: £229,684) of which £15,373 (2021: £165,928) was unrestricted. Included within restricted funds are Public Health funding of £18,960 (2021: £22,186) which was received from Leeds City Council, a £2,496 Grant relating to Cooking Programmes from Leeds City Council, £4,510 from Leeds Community Foundation, and £250 relating to the International Day of Disabled People.
Included within the unrestricted grants for 2022 are £nil (2021: £141,860) of monies received under the Coronavirus Job Retention Scheme which were spent in full during the year.
Page **15**
**LS-TEN Limited For the year ended 31 December 2022 Notes to the financial statements**
## **3 Income from charitable activities**
|**Unrestricted**
**Fund**
Income from educational
activities
558,735
Skatepark sales
246,889
Other
124,374
_________
**929,998**
_ __ ___|**Restricted**
**Fund**
-
-
-
_________
**-**
_ __ ___|**2022**
**Total**
**£**
558,735
246,889
124,374
_________
**929,998**
_ __ ___|**2021**
**Total**
**£**
338,234
182,755
116,073
_________
**637,062**
_ __ ___|
|---|---|---|---|
All income from charitable activities was unrestricted in both periods. Other income in the prior year includes £100,000 of receipts in relation to Covid pandemic insurance. Other income in the current year includes £103,164 relating to income from Leeds City Council for the supply of services.
## **4 Other trading activities**
|Provision of services
|**2022**
**£**
6,789
_________
**6,789**
_ __ ___|**2021**
**£**
9,995
_________
**9,995**
_ __ ___|
|---|---|---|
## **5 Cost of raising funds**
||**Unrestricted**
**Funds**|**Total 2022**|**Unrestricted**
**Funds**|**Total 2021**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|Direct costs|54,872|54,872|27,589|27,589|
||_________|_________|_________|_________|
||**54,872**|**54,872**|**27,589**|**27,589**|
||_ __ ___|_ __ ___|_ __ ___|_ __ ___|
Page **16**
**LS-TEN Limited For the year ended 31 December 2022 Notes to the financial statements**
## **6 Expenditure on charitable activities**
||**Unrestricted**
**Fund**|**Restricted**
**Fund**|**2022**|
|---|---|---|---|
||**£**|**£**|**£**|
|Wages|534,717|25,967|
560,684|
|Depreciation|7,551|-|
7,551|
|Other charitable expenditure|293,889|249|294,138|
||_________|_________|_________|
||**836,157**|**26,216**|**862,373**|
_ __ ___ _ __ ___ _ __ ___
The above expenditure, which includes support costs, has been allocated across the charitable activities of LS-TEN in proportion to the income levels of each activity with the exception of costs relating to a specific restricted funded activity.
|stricted funded activity.||||
|---|---|---|---|
|Allocated to:|**Unrestricted**
**Fund**|**Restricted**
**Fund**|**2022**|
||**£**|**£**|**£**|
|Educational Activities|502,356|21,456|523,812|
|Skatepark Sales|221,977|250|222,227|
|Other activities|111,824|4,510|116,334|
||_________|_________|_________|
||**836,157**|**26,216**|**862,373**|
_ __ ___ _ __ ___ _ __ ___
Governance costs included in other charitable expenditure represent fees payable to the independent examiner of £7,740 (2021: £7,800).
|**Expenditure on charitable activities – prior**
**period**
**Unrestricted**
**Fund**
**£**
Wages
422,218
Depreciation
737
Other charitable expenditure
155,574
_________
**578,529**
_ __ ___
Allocated to:
**Unrestricted**
**Fund**
**£**
Educational Activities
307,157
Skatepark Sales
165,963
Other activities
105,409
_________
**578,529**
_ __ ___|**Restricted**
**Fund**
**£**
30,439
-
33,317
_________
**63,756**
_ __ ___
**Restricted**
**Fund**
**£**
27,531
4,822
31,403
_________
**63,756**
_ __ ___|**2021**
**£**
452,657
737
188,891
_________
**642,285**
|
|---|---|---|
|||_ __ ___
**2021**
**£**
334,688
170,785
136,812
_________
**642,285**
_ __ ___|
Page **17**
**LS-TEN Limited For the year ended 31 December 2022 Notes to the financial statements**
## **7 Staff costs and remuneration of key management personnel**
|Salaries
Social security costs
Pension costs|**2022**
**£**
511,605
35,628
13,451
_________
**560,684**
_ __ ___|**2021**
**£**
421,075
30,076
7,931
_________
**459,082**
_ __ ___|
|---|---|---|
No employees had total employee benefits (excluding employer pension costs and national insurance costs) in excess of £60,000 in the current or prior year.
The total employment benefits, including employer pension contributions of the key management personnel, were £154,031 (2021: £115,200).
During this year and the prior year, no Trustees received remuneration, and none were reimbursed for travel and other expenses.
## **Staff numbers:**
The average monthly number of full-time equivalent employees (including casual and part-time staff) during the year were as follows:
|Central
Community
Education
Skatepark
|**2022**
4
5
11
5
_________
**25**
_ __ ___|**2021**
3
-
11
6
_________
**20**
_ __ ___|
|---|---|---|
## **8 Pensions**
LS-TEN contributes to individual pension schemes on behalf of its employees.
Page **18**
**LS-TEN Limited For the year ended 31 December 2022 Notes to the financial statements**
## **9 Tangible Assets**
|**Computer**
**equipment**
**Equipment**
**purchases**
**Refurbishments**
**£**
**£**
**£**
**Cost**
Opening balance 1
January 2022
4,621
12,490
-
Additions
5,058
4,548
670
Disposals
(2,450)
(5,082)
-
_________
_________
_________
**Closing balance 31**
**December 2022**
**7,229**
**11,956**
**670**
_________
_________
_________
**Accumulated**
**depreciation**
Opening balance 1
January 2022
511
2,999
-
Charge for the year
1,289
395
-
**Closing balance at 31**
**December 2022**
**1,800**
**3,394**
**-**
_________
_________
_________
**Net book value**
**At 31 December 2022**
**5,429**
**8,562**
**670**
_ __ ___
_ __ ___
_ __ ___
**At 1 January 2022**
4,110
9,491
-
_ __ ___
_ __ ___
_ __ ___|**Motor**
**Vehicles**
**£**
2,395
-
-
_________
**2,395**
_________
532
798
**1,330**
_________
**1,065**
_ __ ___
1,863
_ __ ___|**Outdoor**
**Skatepark**
-
48,474
-
_________
**48,474**
_________
-
5,069
**5,069**
_________
**43,405**
_ __ ___
-
_ __ ___|**Total**
**£**
19,506
58,750
(7,532)
_________
**70,724**
_________
4,042
7,551
**11,593**
_________
**59,131**
|
|---|---|---|---|
||||_ __ ___
15,464
_ __ ___|
All the assets above relate to functional assets used in the fulfilment of charitable objectives.
## **10 Debtors**
|Debtors
Prepayments & accrued income
|**2022**
**£**
211,418
22,659
_________
**234,077**
_ __ ___|**2021**
**£**
29,400
14,747
_________
**44,147**
_ __ ___|
|---|---|---|
Page **19**
**LS-TEN Limited For the year ended 31 December 2022 Notes to the financial statements**
## **11 Creditors: amounts falling due within one year**
|Trade Creditors
Income in advance
Accruals
Taxation and social security
Sundry creditors
Wages Payable
|**2022**
**£**
49,920
52,832
900
18,928
5,233
38,938
_________
**166,751**
|**2021**
**£**
13,897
21,834
75
10,237
4,088
-
_________
**50,131**
|
|---|---|---|
## **12 Funds**
||**Balance as**|**Incoming**|**Outgoing**|**Balance as**|
|---|---|---|---|---|
||**at 2021**|**resources**|**resources**|**2022**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|259,315|952,160|(891,029)|320,446|
|**Restricted funds**|-|26,216|(26,216)|-|
||_________|_________|_________|_________|
|**Total funds**|**259,315**|**978,376**|**(917,245)**|**320,446**|
||_ __ ___|_ __ ___|_ __ ___|_ __ ___|
|e above restricted funds relate have been detailed in note 2 to these accounts.|||||
|**Funds – prior period**|||||
||**Balance as**|**Incoming**|**Outgoing**|**Balance as**|
||**at 2020**|**resources**|**resources**|**at 2021**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|52,448|812,985|(606,118)|259,315|
|**Restricted funds**|-|63,756|(63,756)|-|
||_________|_________|_________|_________|
|**Total funds**|**52,448**|**876,741**|**(669,874)**|**259,315**|
||_ __ ___|_ __ ___|_ __ ___|_ __ ___|
The above restricted funds relate have been detailed in note 2 to these accounts.
## **Funds – prior period**
Page **20**
**LS-TEN Limited For the year ended 31 December 2022 Notes to the financial statements**
## **13 Related party transactions**
During this year and the prior year, no Trustees received remuneration and none were reimbursed for travel and other expenses. During the year no (2021: 0) trustees made purchases from the company totalling £nil (2021: £nil).
During the year the company made purchases of £474 (2021: £474) from First Response Team. Dave Smith (trustee) is the owner of First Response Team, and the purchase was made at arm’s length.
## **14 Comparative Statement of Financial Activities (incorporating statutory income & expenditure account) for the period ending 31 December 2021**
|**Notes**
**Unrestricted**
**Funds**
**£**
**Income:**
Donations and legacies
**2**
165,928
Income from charitable
activities
**3**
637,062
Other trading activity
**4**
9,995
_________
**Total income**
**812,985**
_________
**Expenditure on:**
Costs of raising funds
**5**
27,589
Expenditure on charitable
activities
**6**
578,529
_________
**Total expenditure**
**606,118**
_________
**Net (expenditure)/income**
**206,867**
_________
**Net movements in funds**
**206,867**
**Reconciliation of funds:**
Total funds brought forward
52,448
_________
**Total funds carried forward**
**12**
**259,315**
_ __ ___|**Restricted**
**Total Funds**
**Funds**
**2021**
**£**
**£**
63,756
229,684
-
637,062
-
9,995
_________
_________
**63,756**
**876,741**
_________
_________
-
27,589
63,756
642,285
_________
_________
**63,756**
**669,874**
_________
_________
**-**
**206,867**
_________
_________
**-**
**206,867**
-
52,448
_________
_________
**-**
**259,315**
_ __ ___
_ __ ___|
|---|---|
Page **21**