REGISTERED COMPANY NUMBER: RC000316 (England and Wales) REGISTERED CHARITY NUMBER: 210112
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
FOR
LIVERPOOL MEDICAL INSTITUTION
LIVERPOOL MEDICAL INSTITUTION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
| 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 |
LIVERPOOL MEDICAL INSTITUTION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023
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 31st December 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).
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
D G Machin Dr W Taylor M G Semple A D Baird A C SWIFT
Company Secretary
29 Oct 2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Derek G Machin
~~.............................................................~~ ................ D G Machin - Trustee Derek Machin (Tue, 29th Oct 2024 13:45:11 GMT)
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIVERPOOL MEDICAL INSTITUTION
Independent examiner's report to the trustees of Liverpool Medical Institution ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st December 2023.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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
David Hassall (Wed, 30th Oct 2024 9:41:45 GMT)
David Hassall
30 Oct 2024
Date: .............................................
Page 2
LIVERPOOL MEDICAL INSTITUTION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023
| 2023 Unrestricted Restricted Total funds fund funds Notes £ £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 56,844 - 56,844 Other trading activities 2 31,181 - 31,181 Investment income 3 26,595 - 26,595 Total 114,620 - 114,620 EXPENDITURE ON Charitable activities Main 69,085 - 69,085 Other 160,283 - 160,283 Total 229,368 - 229,368 NET INCOME/(EXPENDITURE) (114,748) - (114,748) RECONCILIATION OF FUNDS Total funds brought forward 566,620 - 566,620 TOTAL FUNDS CARRIED FORWARD 451,872 - 451,872 |
2022 Total funds £ 55,914 52,234 33,630 141,778 96,828 255,163 351,991 (210,213) 776,833 566,620 |
|---|---|
The notes form part of these financial statements
Page 3
LIVERPOOL MEDICAL INSTITUTION
BALANCE SHEET 31ST DECEMBER 2023
| Unrestricted Restricted funds fund Notes £ £ FIXED ASSETS Tangible assets 7 148,012 - Investments 8 1 - 148,013 - CURRENT ASSETS Debtors 9 1,600 - Investments 10 320,340 - Prepayments and accrued income 11,249 - Cash at bank and in hand 15,022 - 348,211 - CREDITORS Amounts falling due within one year 11 (8,263) - NET CURRENT ASSETS 339,948 - TOTAL ASSETS LESS CURRENT LIABILITIES 487,961 - CREDITORS Amounts falling due after more than one year 12 (35,747) - ACCRUALS AND DEFERRED INCOME 13 (342) - PENSION LIABILITY - - NET ASSETS 451,872 - FUNDS 14 Unrestricted funds TOTAL FUNDS |
2023 Total funds £ 148,012 1 148,013 1,600 320,340 11,249 15,022 348,211 (8,263) 339,948 487,961 (35,747) (342) - 451,872 451,872 451,872 |
2022 Total funds £ 199,597 1 199,598 41,923 300,584 8,305 108,678 459,490 (13,428) 446,062 645,660 (51,751) (2,831) (24,458) 566,620 566,620 566,620 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.
The notes form part of these financial statements
continued...
Page 4
LIVERPOOL MEDICAL INSTITUTION
BALANCE SHEET - continued 31ST DECEMBER 2023
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(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:
Derek G Machin ............................................. D G Machin - Trustee Derek Machin (Tue, 29th Oct 2024 13:45:11 GMT)
The notes form part of these financial statements
Page 5
LIVERPOOL MEDICAL INSTITUTION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023
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.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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.
Page 6
continued...
LIVERPOOL MEDICAL INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
2. OTHER TRADING ACTIVITIES
3.
4.
| Charitable Revenue Generated INVESTMENT INCOME Shares in group undertakings Other participating interests Other fixed asset invest - FII NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Hire of plant and machinery |
2023 2022 £ £ 31,181 52,234 2023 2022 £ £ 6,543 19,265 296 1 19,756 14,364 26,595 33,630 2023 2022 £ £ 55,571 139,271 2,698 1,629 |
2022 £ 52,234 |
|---|---|---|
| 2022 £ 19,265 1 14,364 |
||
| 33,630 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.
continued...
Page 7
LIVERPOOL MEDICAL INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
| 6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 55,914 - Other trading activities 52,234 - Investment income 33,630 - Total 141,778 - EXPENDITURE ON Charitable activities Main 96,828 - Other 255,163 - Total 351,991 - NET INCOME/(EXPENDITURE) (210,213) - RECONCILIATION OF FUNDS Total funds brought forward 776,833 - TOTAL FUNDS CARRIED FORWARD 566,620 - |
Total funds £ 55,914 52,234 33,630 141,778 96,828 255,163 351,991 (210,213) 776,833 566,620 |
|---|---|
continued...
Page 8
LIVERPOOL MEDICAL INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
7. TANGIBLE FIXED ASSETS
| Freehold property £ Cost At 1st January 2023 144,079 Additions - At 31st December 2023 144,079 Depreciation At 1st January 2023 38,215 Charge for year - At 31st December 2023 38,215 Net book value At 31st December 2023 105,864 At 31st December 2022 105,864 FIXED ASSET INVESTMENTS Market value At 1st January 2023 and 31st December 2023 Net book value At 31st December 2023 At 31st December 2022 |
Long leasehold £ 1,235,646 - 1,235,646 1,142,513 54,918 1,197,431 38,215 93,133 |
Fixtures and fittings £ 101,745 - 101,745 101,745 - 101,745 - - |
Computer equipment £ 962 3,986 4,948 362 653 1,015 3,933 600 |
Totals £ 1,482,432 3,986 1,486,418 1,282,835 55,571 1,338,406 148,012 199,597 Shares in group undertakings £ 1 1 1 |
|---|---|---|---|---|
8. FIXED ASSET INVESTMENTS
There were no investment assets outside the UK.
continued...
Page 9
LIVERPOOL MEDICAL INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
| 9. DEBTORS Amounts falling due within one year: Trade debtors Amounts falling due after more than one year: LMI Trading - Inter Comp Loan Aggregate amounts 10. CURRENT ASSET INVESTMENTS Other 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes VAT Other creditors Pension |
2023 £ 1,600 - 1,600 2023 £ 320,340 2023 £ 5,658 - 1,047 1,558 - 8,263 |
2022 £ - 41,923 41,923 2022 £ 300,584 |
2022 £ - |
|---|---|---|---|
| 41,923 | |||
| 41,923 | |||
| 2022 £ 4,986 4 960 1,558 5,920 |
|||
| 13,428 |
continued...
Page 10
LIVERPOOL MEDICAL INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
| 12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||
|---|---|---|---|---|
| 2023 | 2022 | |||
| £ | £ | |||
| Other creditors | 19,420 | 51,751 | ||
| LMI Trading - Inter Comp Loan | 16,327 | - | ||
| 35,747 | 51,751 | |||
| 13. | ACCRUALS AND DEFERRED INCOME | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Accruals and deferred income | 342 | 2,831 | ||
| 14. | MOVEMENT IN FUNDS | |||
| Net | ||||
| movement | At | |||
| At 1/1/23 | in funds | 31/12/23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| Unrestricted | 566,620 | (114,748) | 451,872 | |
| TOTAL FUNDS | 566,620 | (114,748) | 451,872 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| Unrestricted | 114,620 | (229,368) | (114,748) | |
| TOTAL FUNDS | 114,620 | (229,368) | (114,748) |
continued...
Page 11
LIVERPOOL MEDICAL INSTITUTION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
14. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1/1/22 | in funds | 31/12/22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted | 776,833 | (210,213) | 566,620 |
| TOTAL FUNDS | 776,833 | (210,213) | 566,620 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Unrestricted | 141,778 | (351,991) | (210,213) |
| TOTAL FUNDS | 141,778 | (351,991) | (210,213) |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds Unrestricted TOTAL FUNDS |
Net movement At At 1/1/22 in funds 31/12/23 £ £ £ 776,833 (324,961) 451,872 776,833 (324,961) 451,872 |
Net movement At At 1/1/22 in funds 31/12/23 £ £ £ 776,833 (324,961) 451,872 776,833 (324,961) 451,872 |
|---|---|---|
| 451,872 |
continued...
Page 12
LIVERPOOL MEDICAL INSTITUTION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2023
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds Unrestricted TOTAL FUNDS |
Incoming Resources Movement resources expended in funds £ £ £ 256,398 (581,359) (324,961) 256,398 (581,359) (324,961) |
|---|---|
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2023.
Page 13
LIVERPOOL MEDICAL INSTITUTION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023
| Unrestricted Restricted funds funds £ £ INCOME AND ENDOWMENTS Donations and legacies Donations 56,844 - Other trading activities Charitable Revenue Generated 31,181 - Investment income Shares in group undertakings 6,543 - Other participating interests 296 - Other fixed asset invest - FII 19,756 - 26,595 - Total incoming resources 114,620 - EXPENDITURE Charitable activities Advertising 950 - Sundries 5,617 - Training 1,575 - 8,142 - Other Wages 78,864 - Social security 1,487 - Pensions 8,118 - Software Charges 2,698 - Bank Charges 172 - Cleaning 4,607 - Accountancy 5,691 - Depreciation 55,570 - Equipment Lease 623 - Carried forward 157,830 - |
2023 Total funds £ 56,844 31,181 6,543 296 19,756 26,595 114,620 950 5,617 1,575 8,142 78,864 1,487 8,118 2,698 172 4,607 5,691 55,570 623 157,830 |
2022 Total funds £ 55,914 52,234 19,265 1 14,364 33,630 141,778 733 7,852 35,461 44,046 76,651 (2,552) 8,211 1,629 460 3,482 13,602 152,500 623 254,606 |
|---|---|---|
This page does not form part of the statutory financial statements
Page 14
LIVERPOOL MEDICAL INSTITUTION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023
| Unrestricted Restricted funds funds £ £ Other Brought forward 157,830 - Other Staff Cost 200 - Travel - - Entertainment 1,471 - Subscriptions 45 - BID Levy 737 - 160,283 - Support costs Management Telephone 2,995 - Postage and stationery 167 - Other Premises Cost 4,324 - Professional Fees 7,570 - 15,056 - Finance Rates and water 8,436 - Insurance 17,700 - Light and heat 9,854 - 35,990 - Other Repairs & Maintenance 9,862 - Governance costs Accountancy and legal fees 35 - Consultancy - - 35 - Total resources expended 229,368 - Net (expenditure)/income (114,748) - |
2023 Total funds £ 157,830 200 - 1,471 45 737 160,283 2,995 167 4,324 7,570 15,056 8,436 17,700 9,854 35,990 9,862 35 - 35 229,368 (114,748) |
2022 Total funds £ 254,606 493 64 - - - 255,163 1,760 210 8,891 4,254 15,115 9,813 15,413 8,300 33,526 312 29 3,800 3,829 351,991 (210,213) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 15
Issuer DH Business Support Ltd Document generated Tue, 29th Oct 2024 12:05:40 GMT Document fingerprint d840bc5be39978d53e3c8b89f75e7626
Parties involved with this document
Document processed Party + Fingerprint Tue, 29th Oct 2024 13:45:11 GMT Derek Machin - Signer (3f65387063e2e2f074f9ead111fdc950) Audit history log Date Action Tue, 29th Oct 2024 13:45:12 GMT Derek Machin viewed the envelope (87.127.38.148) Tue, 29th Oct 2024 13:45:11 GMT This envelope has been signed by all parties (87.127.38.148) Tue, 29th Oct 2024 13:45:11 GMT Derek Machin signed the envelope (87.127.38.148) Tue, 29th Oct 2024 13:24:27 GMT Derek Machin viewed the envelope (87.127.38.148) Tue, 29th Oct 2024 13:23:42 GMT Derek Machin viewed the envelope (20.254.225.254) Tue, 29th Oct 2024 13:23:31 GMT Derek Machin viewed the envelope (87.127.38.148) Tue, 29th Oct 2024 12:07:34 GMT Document emailed to Sean.Martin@lmi.org.uk (18.169.187.30) Tue, 29th Oct 2024 12:07:33 GMT Sent the envelope to Derek Machin (Sean.Martin@lmi.org.uk) for signing (2.125.105.85) Tue, 29th Oct 2024 12:05:41 GMT Document generated with fingerprint d840bc5be39978d53e3c8b89f75e7626 (2.125.105.85) Tue, 29th Oct 2024 12:05:40 GMT Envelope generated by Regina Zarys (2.125.105.85)
Issuer
DH Business Support Ltd
Document generated Tue, 29th Oct 2024 22:14:52 GMT Document fingerprint 46f31689c911b7e239a0967f8c16c15c
Parties involved with this document
Document processed Party + Fingerprint Wed, 30th Oct 2024 9:41:45 GMT David Hassall - Signer (8a2ff6d88bd0b8086d78c334dfcd40bb) Audit history log Date Action Wed, 30th Oct 2024 9:41:46 GMT David Hassall viewed the envelope (185.135.105.185) Wed, 30th Oct 2024 9:41:45 GMT This envelope has been signed by all parties (185.135.105.185) Wed, 30th Oct 2024 9:41:45 GMT David Hassall signed the envelope (185.135.105.185) Wed, 30th Oct 2024 9:41:32 GMT David Hassall viewed the envelope (185.135.105.185) Wed, 30th Oct 2024 9:41:31 GMT David Hassall opened the document email. (66.249.93.68) Wed, 30th Oct 2024 9:41:30 GMT David Hassall opened the document email. (66.249.93.70) Tue, 29th Oct 2024 22:15:56 GMT Document emailed to david.hassall@dhbs.uk (18.175.117.244) Tue, 29th Oct 2024 22:15:56 GMT Sent the envelope to David Hassall (david.hassall@dhbs.uk) for signing (81.111.207.48) Tue, 29th Oct 2024 22:14:52 GMT Document generated with fingerprint 46f31689c911b7e239a0967f8c16c15c (81.111.207.48) Tue, 29th Oct 2024 22:14:52 GMT Envelope generated by Rich Page-Jones (81.111.207.48)