**REGISTERED CHARITY NUMBER: 1196556** **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023** ## **FOR** ## **LEGACY IN THE COMMUNITY** Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA **LEGACY IN THE COMMUNITY** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023** |||**Page**|| |---|---|---|---| |**Report of the Trustees**|1|to|4| |**Independent Examiner's Report**||5|| |**Statement of Financial Activities**||6|| |**Balance Sheet**||7|| |**Notes to the Financial Statements**|8|to|12| |**Detailed Statement of Financial Activities**||13|| **LEGACY IN THE COMMUNITY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** The trustees present their report with the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of 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** ## **Objectives and aims** Legacy in the Community is a team of passionate individuals whose purpose is to work together to break down the barriers in our communities that prevent disabled individuals, or those who identify with long-term health conditions, from fully participating in society. We believe that having a disability should not come with a label or restriction and through means of promoting inclusively and raising awareness these labels and restrictions will cease to exist. ## **Significant activities** This financial year has seen Legacy in the Community start to deliver the Working on Wellbeing project. Our delivery regions geographically are the largest in Wales, and demographically present significant challenges. While following the 'core' requirements of the project, nonetheless we have adapted the project where required to meet the needs of the customers and will continue to do so. We now focus heavily on wellbeing within our deliver cohorts. Without this focus on wellbeing the journey back into work would take much longer. Mental health, confidence, mindset is all part of that journey and is a main part of our focus. Our sessions are customer led in that they are given an opportunity to share their experiences with others etc. Page 1 **LEGACY IN THE COMMUNITY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** ## **ACHIEVEMENT AND PERFORMANCE Charitable activities** ## **Employment Support** All of our delivery material is available in 'easy read' format. Makaton, along with Widget software is being used to deliver the course in ALN schools/colleges. We have written and had printed a 'Wellbeing Booklet' which is being used in Powys. As requested by our BCL colleague, we have had produced a 'Working on Wellbeing' booklet which gives an insight to the project along with information on Access to Work and the Disability Confident scheme which we actively promote. ## **Concerns/lessons** 1. The majority of our referrals are individuals with mental health concerns, hence the focus and importance on wellbeing. 2. We have seen that many of our referrals are a long way from starting on the journey to employment having been unemployed for many years, or never employed. 3. Young adults present with poor social skills such as communication and lack of ambition. 4. Within each cohort there are a wide variety of individual needs and requirements and therefore there will be the need to adjust the deliver model as required but still delivering core requirements. 5. This is a non-mandated course and therefore although referred by the JCP candidates tend to engage more. 6. There is clearly a demand for a 'basic life skills' to be further developed and delivered to both mainstream schools and ALN schools/colleges. 7. There is 'competition' between agencies for referrals with some providers focusing on one preferred agency. 8. Maximus have a significant presence throughout Wales and as a relatively small project it can be difficult to challenge them. 9. Sadly, there is still a significant barrier faced by disabled individuals around employment. Employers still hold perceived 'ingrained' concerns around employing disabled individuals. 10. The lack of engagement from employers: despite calls, emails, and the promise to engage these often result in no further contact - this includes local authorities and health boards. From conversations with other organisations including the DWP this is a common occurrence. 11. The Disability Confidence scheme needs more DWP and UK Government backing. It needs to be a scheme that has meaning and regulating so it becomes a meaningful qualification. Since Covid - 19, like much of society, there have been significant challenges in the educational sector and to a degree continue post Covid. Of course, these could not be foreseen prior to the setting of the initial outcomes. Increased anxiety amongst students and an increase in pupil absences. Based on numerous conversations with both mainstream and ALN colleges/schools it has become clear that there is a lack of 'basic life skills' when the students transition from school into the general community/work environment. ## **Engagement Events** Our main links has been with Careers Wales, providing referrals and signposting links to relevant individuals that can assist with opportunities and referral pathways. The DWP have also been instrumental in providing candidates for Starting Line. In particular, Llanelli, Aberystwyth, Carmarthen, Brecon and Ystradglynais job centres has actively worked with LITC. ## **Support for individual facing barriers** We have taken an in-person support approach primarily. This includes meeting customers in local areas such as a Tesco Cafe to ensure that premises are accessible. For some individuals, we have adapted to their communication preferences by using telephony or online video communications. When booking rooms, we ensure that it is accessible for customers - we have utilised voluntary associations, libraries, leisure centres, university buildings and job centres. In addition, we provided support by looking at the gaps that are preventing them from becoming employed or going into training opportunities. LITC became eligible to provide food vouchers, which was an integral part of supporting clients in Powys, as customers are deeply affected by the cost-of-living crisis and lack of employment opportunities in the area. We also have a regular presence in Nacro Wellbeing Events in Llandysul (Ceredigion) and Pencader (Carmarthenshire), to network and engage directly with members of the community. Page 2 **LEGACY IN THE COMMUNITY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** ## **Face to face services** West has engaged with Carmarthenshire People First, Barod, Jobcentres, West Wales Action for Mental Health. There was an initial uptake of deliveries where cohorts were consistent, delivering in Carmarthen, Llanelli, and Aberystwyth. We also have a regular presence in Nacro Wellbeing Events in Llandysul (Ceredigion) and Pencader (Carmarthenshire), to network and engage directly with members of the community. In Powys, LITC have established an efficient working relationship with Brecon and Ystradglynais job centres. LITC would expect at least ten individuals per cohort, with the job centres being encouraging of customers to participate in the project. The LITC team have also engaged with Accessibility Powys to provide streamlined support to individuals as they can operate as a signposting service for customers in need of direct advocacy. Due to Brecon being a condensed area (population under 10,000 - 2021 Census), the coffee mornings implemented has gathered attention of local councillors and organisations that has vastly increased the marketing of the project and has provided customers and individuals interested in the project with more scope to understand and discuss employability. ## **Further Added Value** As we are a charity and not associated with the job centre or local councils, this helps improve customer confidence significantly when engaging. They feel comfortable to discuss any limitations they have, rather than feel forced to fit into a mould presented to them by an external agency. We have learned that providing one to one support and being on hand to chat to customers when they need it, it is helped to put them at ease. The Working on Wellbeing provision is an empathetic, nonbiased approach to disabled people's employment and the greatest successes has arisen from 'soft' outcomes. From working directly with ALN schools, we know that they are desperate for provisional support. With Working on Wellbeing, CV writing for example has complimented the learners' Agored Cymru qualifications and there is scope to work directly with ALN teachers and co-ordinators to further the project. The Virtual World of Work (VWW) has accumulated a significant amount of interest, and schools has said to the LITC team that they would fund or make space in their budgets to ensure a programme like the VWW was a part of their ALN curriculum. If funding allows, the VWW would have an invaluable impact on learners and provide teachers with an essential resource. ## **FINANCIAL REVIEW** ## **Financial position** Total income for the year to 30th June 2023 was £280,955 (2022: £0). The expenditure for the year totalled £217,984 (2022: £0) leaving a net surplus for the year of £62,981. ## **Reserves policy** Legacy In The Community continues to have a reserves policy and to hold reserves. The organisation's reserves policy aims to mitigate against closure and invests in strategic development costs. Reserves policy is shared and reviewed by the trustees each year ahead of year end to ensure sufficient level and appropriate use of reserves. The total reserves is currently kept at £62,981. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document** The charity is controlled by its governing document, A CIO foundation and constitutes an unincorporated charity. ## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 1196556 ## **Principal address** Crownford House Swan Street Merthyr Tydfil CF47 8EU ## **Trustees** A L Chung Mrs K Blake (appointed 2.3.23) Page 3 **LEGACY IN THE COMMUNITY** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2023** **REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner** Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Approved by order of the board of trustees on ............................................. and signed on its behalf by: 08.05.2024 ........................................................................ A L Chung - Trustee Page 4 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LEGACY IN THE COMMUNITY** ## **Independent examiner's report to the trustees of Legacy In The Community** I report to the charity trustees on my examination of the accounts of Legacy In The Community (the Trust) for the year ended 30 June 2023. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no material 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 Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Michael Jones ACCA Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Date: ............................................. Page 5 **LEGACY IN THE COMMUNITY** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023** |Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
1,983
**EXPENDITURE ON**
**Charitable activities**
Charitable Activites
-
**NET INCOME**
1,983
**RECONCILIATION OF FUNDS**
Total funds brought forward
10
**TOTAL FUNDS CARRIED FORWARD**
1,993|Restricted
funds
£
278,972
217,984
60,988
-
60,988|Total
funds
£
280,955| |---|---|---| |||217,984| |||62,971
10| |||62,981| The notes form part of these financial statements Page 6 ## **LEGACY IN THE COMMUNITY** ## **BALANCE SHEET 30 JUNE 2023** |Unrestricted
fund
Notes
£
**FIXED ASSETS**
Intangible assets
4
-
Tangible assets
5
-
-
**CURRENT ASSETS**
Debtors
6
-
Cash at bank
1,993
1,993
**CREDITORS**
Amounts falling due within one year
7
-
**NET CURRENT ASSETS**
1,993
**TOTAL ASSETS LESS CURRENT LIABILITIES**
1,993
**NET ASSETS**
1,993
**FUNDS**
8
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
4,200
3,029
7,229
1,098
94,582
95,680
(41,921)
53,759
60,988
60,988|Total
funds
£
4,200
3,029
7,229
1,098
96,575
97,673
(41,921)
55,752
62,981
62,981
1,993
60,988
62,981| |---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 08.05.2024 ............................................. A L Chung - Trustee The notes form part of these financial statements Page 7 **LEGACY IN THE COMMUNITY** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Grant income is accounted for on an accruals basis and is shown in the financial statements when the Charity receives the unconditional right to the grants. Grants received for a specific purpose are treated as restricted funds. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment - 33% on cost ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Employee benefits** The charity provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined benefit and defined contribution pension plans. ## **Short term benefits** Page 8 continued... **LEGACY IN THE COMMUNITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **1. ACCOUNTING POLICIES - continued** Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. ## **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. ## **Other financial assets** Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. ## **Impairment of financial assets** Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. ## **Derecognition of financial assets** Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. ## **Classification of financial liabilities** Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. ## **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. Page 9 continued... **LEGACY IN THE COMMUNITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **1. ACCOUNTING POLICIES - continued** Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business 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. ## **Other financial liabilities** Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy. ## **Derecognition of financial liabilities** Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. ## **Going concern** The charity continues to adopt the going concern basis in preparing its financial statements. The charity has obtained future funding until 2025. ## **2. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 June 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 30 June 2023. ## **3. STAFF COSTS** The average monthly number of employees during the year was as follows: |Average number of employees
No employees received emoluments in excess of £60,000.|7| |---|---| ||| During the year salaries of £38,000 (2022: £0) were paid to key management. ## **4. INTANGIBLE FIXED ASSETS** |**INTANGIBLE FIXED ASSETS**|| |---|---| ||Computer| ||software| ||£| |**COST**|| |Additions|6,300| |**AMORTISATION**|| |Charge for year|2,100| |**NET BOOK VALUE**|| |At 30 June 2023|4,200| Page 10 continued... **LEGACY IN THE COMMUNITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **5. TANGIBLE FIXED ASSETS** |**COST**
Additions
**DEPRECIATION**
Charge for year
**NET BOOK VALUE**
At 30 June 2023
**6.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**8.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Scope
Access to work - DWP Funding
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Scope
Access to work - DWP Funding
**TOTAL FUNDS**|At 1.7.22
£
10
-
-
-
10
Incoming
resources
£
1,983
265,904
13,068
278,972
280,955|Computer
equipment
£
4,544
1,515
3,029
£
948
150
1,098
£
41,921
Net
movement
At
in funds
30.6.23
£
£
1,983
1,993
58,105
58,105
2,883
2,883
60,988
60,988
62,971
62,981
Resources
Movement
expended
in funds
£
£
-
1,983
(207,799)
58,105
(10,185)
2,883
(217,984)
60,988
(217,984)
62,971| |---|---|---| Page 11 continued... **LEGACY IN THE COMMUNITY** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2023** ## **9. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 30 June 2023. Page 12 **LEGACY IN THE COMMUNITY** **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2023** £ |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Pensions
Advertising & Marketing
Audit & Accountancy Fees
Consultancy
Business Entertainment
Postage, Freight & Courier
General Expenses
Insurance
Legal Expenses
Printing & Stationery
IT Software & Consumables
Rates
Rent
Event Venue Hire
Staff Training
Subscriptions
Telephone & Internet
Staff Direct Costs
Amort of computer software
Depn of computer equipment
Total resources expended
**Net income**|1,983
278,972| |---|---| ||280,955| ||280,955
119,803
18,619
1,624
10,771
5,796
21,758
61
42
1,076
12
397
2,466
4,997
851
10,316
2,889
2,906
2,167
2,337
5,481
2,100
1,515| ||217,984| ||217,984| ||62,971| This page does not form part of the statutory financial statements Page 13