REGISTERED COMPANY NUMBER: RC000316 (England and Wales) REGISTERED CHARITY NUMBER: 210112
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2021
for
Liverpool Medical Insistution
Liverpool Medical Insistution
for the Year Ended 31 December 2021
Report of the Trustees
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2021. 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
RC000316 (England and Wales)
Registered Charity number
210112
Registered office
Castle Chambers 43 Castle Street Liverpool Merseyside L2 9TL
Trustees
Company Secretary
11 Oct 2022
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
............................................................
Trustee Derek Machin (Oct 11, 2022, 4:33pm)
Page 1
Independent Examiner's Report to the Trustees of Liverpool Medical Insistution
Independent examiner's report to the trustees of Liverpool Medical Insistution ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2021.
Responsibilities and basis of report
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.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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)).
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.
David Hassall MAAT
Date: .............................................
Page 2
Liverpool Medical Insistution
Statement of Financial Activities for the Year Ended 31 December 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 107,061 Other trading activities 2 29,493 Investment income 3 85,207 Total 221,761 EXPENDITURE ON Raising funds 4 2,118 Charitable activities Main 174,364 Other 139,662 Total 316,144 NET INCOME/(EXPENDITURE) (94,383) RECONCILIATION OF FUNDS Total funds brought forward 871,216 TOTAL FUNDS CARRIED FORWARD 776,833 |
Restricted fund £ - - - - - - - - - - - |
31.12.21 Total funds £ 107,061 29,493 85,207 221,761 2,118 174,364 139,662 316,144 (94,383) 871,216 776,833 |
31.12.20 Total funds £ 364,401 23,120 172,046 559,567 - 359,436 100,781 460,217 99,350 771,866 871,216 |
|---|---|---|---|
The notes form part of these financial statements
Page 3
Liverpool Medical Insistution
Balance Sheet 31 December 2021
| Notes FIXED ASSETS Tangible assets 8 Investments 9 CURRENT ASSETS Stocks 10 Debtors 11 Investments 12 Prepayments and accrued income Cash at bank and in hand CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 14 ACCRUALS AND DEFERRED INCOME 15 NET ASSETS FUNDS 16 Unrestricted funds TOTAL FUNDS |
Unrestricted Restricted fund fund £ £ 338,868 - 1 - 338,869 - 405 - 16,378 - 342,220 - 10,118 - 127,399 - 496,520 - (9,303) - 487,217 - 826,086 - (1,903) - (47,350) - 776,833 - |
31.12.21 Total funds £ 338,868 1 338,869 405 16,378 342,220 10,118 127,399 496,520 (9,303) 487,217 826,086 (1,903) (47,350) 776,833 776,833 776,833 |
31.12.20 Total funds £ 386,861 1 386,862 429 2,678 335,900 9,445 206,799 555,251 (9,990) 545,261 932,123 (7,857) (53,050) 871,216 871,216 871,216 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.
The notes form part of these financial statements
Page 4
continued...
Liverpool Medical Insistution
Balance Sheet - continued 31 December 2021
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 10 Oct 2022
.............................................
Derek Machin (Oct 11, 2022, 4:33pm) Trustee
The notes form part of these financial statements
Page 5
Liverpool Medical Insistution
Notes to the Financial Statements for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
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.
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.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation 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.
Page 6
continued...
Liverpool Medical Insistution
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
| 2. OTHER TRADING ACTIVITIES Charitable Revenue Generated 3. INVESTMENT INCOME Rents received Other participating interests Other fixed asset invest - FII 4. RAISING FUNDS Investment management costs Interest payable and similar charges 5. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets |
31.12.21 £ 29,493 31.12.21 £ 14,587 690 69,930 85,207 31.12.21 £ 2,118 31.12.21 £ 48,955 |
31.12.20 £ 23,120 31.12.20 £ 12,880 817 158,349 172,046 31.12.20 £ - 31.12.20 £ 51,848 |
|---|---|---|
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Liverpool Medical Insistution
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
7.
| COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 364,401 - Other trading activities 23,120 - Investment income 172,046 - Total 559,567 - EXPENDITURE ON Charitable activities Main 359,436 - Other 100,781 - Total 460,217 - NET INCOME 99,350 - RECONCILIATION OF FUNDS Total funds brought forward 771,866 - TOTAL FUNDS CARRIED FORWARD 871,216 - |
Total funds £ 364,401 23,120 172,046 559,567 359,436 100,781 460,217 99,350 771,866 871,216 |
|---|---|
Page 8
continued...
Liverpool Medical Insistution
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
8. TANGIBLE FIXED ASSETS
| Freehold property £ COST At 1 January 2021 144,079 Additions - At 31 December 2021 144,079 DEPRECIATION At 1 January 2021 36,760 Charge for year 1,455 At 31 December 2021 38,215 NET BOOK VALUE At 31 December 2021 105,864 At 31 December 2020 107,319 9. FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2021 and 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
Long leasehold £ 1,235,646 - 1,235,646 956,104 47,459 1,003,563 232,083 279,542 |
Fixtures and fittings £ 101,745 - 101,745 101,745 - 101,745 - - |
Computer equipment £ - 962 962 - 41 41 921 - |
Totals £ 1,481,470 962 1,482,432 1,094,609 48,955 1,143,564 338,868 386,861 Shares in group undertakin £ 1 1 1 |
|---|---|---|---|---|
There were no investment assets outside the UK.
Page 9
continued...
Liverpool Medical Insistution
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 10. STOCKS Stock 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors VAT 12. CURRENT ASSET INVESTMENTS Other 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Pension |
31.12.21 £ 405 31.12.21 £ 5,641 10,737 16,378 31.12.21 £ 342,220 31.12.21 £ 281 6,995 1,558 469 9,303 |
31.12.20 £ 429 31.12.20 £ 1,586 1,092 2,678 31.12.20 £ 335,900 31.12.20 £ 1,462 6,970 - 1,558 9,990 |
|---|---|---|
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continued...
Liverpool Medical Insistution
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
| 14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE Other creditors 15. ACCRUALS AND DEFERRED INCOME Accruals and deferred income 16. MOVEMENT IN FUNDS At 1.1.21 £ Unrestricted funds General fund 871,216 TOTAL FUNDS 871,216 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 221,761 TOTAL FUNDS 221,761 Comparatives for movement in funds At 1.1.20 £ Unrestricted funds General fund 771,866 TOTAL FUNDS 771,866 |
YEAR 31.12.21 £ 1,903 31.12.21 £ 47,350 Net movement in funds £ (94,383) (94,383) Resources expended £ (316,144) (316,144) Net movement in funds £ 99,350 99,350 |
31.12.20 £ 7,857 31.12.20 £ 53,050 At 31.12.21 £ 776,833 776,833 Movement in funds £ (94,383) (94,383) At 31.12.20 £ 871,216 871,216 |
|---|---|---|
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continued...
Liverpool Medical Insistution
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 559,567 559,567 |
Resources expended £ (460,217) (460,217) |
Movement in funds £ 99,350 99,350 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
At 1.1.20 £ 771,866 771,866 |
Net movement in funds £ 4,967 4,967 |
At 31.12.21 £ 776,833 776,833 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 781,328 781,328 |
Resources expended £ (776,361) (776,361) |
Movement in funds £ 4,967 4,967 |
|---|---|---|---|
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continued...
Liverpool Medical Insistution
Notes to the Financial Statements - continued for the Year Ended 31 December 2021
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
Page 13
Liverpool Medical Insistution
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
| Detailed Statement of Financial Activities for the Year Ended 31 December 2021 |
||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Gifts | 3,853 | 154,440 |
| Donations | 83,171 | 30,424 |
| Grants | 20,037 | 5,000 |
| Exceptional items | - | 174,537 |
| Other trading activities | 107,061 | 364,401 |
| Charitable Revenue Generated | 29,493 | 23,120 |
| Investment income | ||
| Rents received | 14,587 | 12,880 |
| Other participating interests | 690 | 817 |
| Other fixed asset invest - FII | 69,930 | 158,349 |
| 85,207 | 172,046 | |
| Total incoming resources | 221,761 | 559,567 |
| EXPENDITURE | ||
| Investment management costs | ||
| Bank interest | 2,118 | - |
| Charitable activities | ||
| Sundries | 125,631 | 250,407 |
| Other | ||
| Wages | 75,741 | 42,254 |
| Social security | 3,511 | - |
| Pensions | 7,239 | 2,429 |
| Bank Charges | 366 | - |
| Accountancy Fees | 3,850 | 4,250 |
| Depreciation | 48,955 | 51,848 |
| 139,662 | 100,781 |
This page does not form part of the statutory financial statements
Page 14
Liverpool Medical Insistution
Detailed Statement of Financial Activities for the Year Ended 31 December 2021
| Detailed Statement of Financial Activities for the Year Ended 31 December 2021 |
||
|---|---|---|
| 31.12.21 | 31.12.20 | |
| £ | £ | |
| Support costs | ||
| Management | ||
| Rates and water | 4,804 | - |
| Insurance | 13,702 | - |
| Telephone | 991 | - |
| Postage and stationery | 1,023 | - |
| Information technology | 20,520 | - |
| Repairs and renewals | 7,864 | - |
| Other | ||
| Wages | - | 109,029 |
| Governance costs | ||
| Accountancy and legal fees | 5,123 | - |
| Staff Training | 12,896 | - |
| Travel Cost | 2,330 | - |
| 20,349 | - | |
| Total resources expended | 316,144 | 460,217 |
| Net (expenditure)/income | (94,383) | 99,350 |
This page does not form part of the statutory financial statements
Page 15
Liverpool Medical Insistution
Contents of the Financial Statements for the Year Ended 31 December 2021
| Page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 to 5 |
| Notes to the Financial Statements | 6 to 13 |
| Detailed Statement of Financial Activities | 14 to 15 |
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