LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD MAYOR'S NO.2 (CHARITY) ACCOUNT UNAUDITED ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED TH 25 MAY 2023 CHARITY NUMBER- 229539 LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD MAYOR'S NO.2 (CHARITY) ACCOUNT TRUSTEE'S REPORT FOR THE YEAR ENDED 25TH MAY 2023 The Trustees presenl their annual report and financial statements of the charity for the year ended 25th May 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 110 the financial statements and comply with the charlly's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recomrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicdble in the UK and Republic of Ireland IFRS 1021 (effeclive 1st January 2019). OBJECTIVES AND ACTIVITIES The trustee, in the position of Lord Mayor of Liverpool, raises funds through various activities, to support local charities and 'good causes, in and around the Liverpool area. Grant.making policy: Grant making decisions are entirely at the discretion of the trustee. Public beneflt.. The funds raised are distributed to local charities and 'good causes, in Livetpool improving the lives of many beneficiaries. The truslee has given consideration to the public benefit guidance published by the Charily Commission. ACHIEVEMENTS AND PERFORMANCE The charity gen8rates income through various fundraising events, a Grand Charity Ball and numerous themed charity night4., the income of which funds the payment of grants to charitable organisations in LÈverpool. The trust continued to receive donations from third parties throughout the year. FINANCIAL REVIEW Income for the year totalled £37,337 (2022.. £51,520), of which £33,972 (2022.. £37,622) arose from fundraising. Donations received were £3,365 (2022.. £13,898). Grants of£35,732 (2022: £24,868) were made to local charitable organisalions during Ihe year. Risk Management: The main risks lo which the charity is exposed as identified by the trustee have been considered and systems have been established to miligale those risks. Reserves pollcy: The level of reserves held should be al a minimal level. All reserves, where possible, are distributed in th8 year they are raised. Plans for the future: The charity's objectives remain unchanged for the future,. the intention for next year is further grant making through continued fundiaising and donor support. LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD MAYOR'S NO.2 (CHARITY) ACCOUNT TRUSTEE'S REPORT FOR THE YEAR ENDED 25TH MAY 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT The Charity (number 229539) was established on 31st March 1964 by 'Section 595 of Liverpool Corporalion Act 1921,. AdmTnistration: The trust is adminislered by Liverpool Charity and Voluntary SeNices ILCVS). LCVS Idministerq and records all income received and process all payments on behalf of the trust. All funds are promptly banked and reconciled on a monthly basis in accordance with LCVS. own inlemal processes and controls. Appointment of Trustee: The ttustee l Lord Mayor is always a serving councillor of LiverpDoI City Council and is elected by the full council al its Annual General Meeting. REFERENCE AND ADMINISTRATIVE DETAILS Name Liverpool Corpomlion City Justices Poor Fund or The Lord Mayorfs No.2 {Charity) 229539 Charity Number Principal Office The Lord Mayor's Office, Town Hall, Liverpool L2 3SW Trustees The trustee, who is also the Lord Mayor, held office during the year as follows.. Cllr Roy Gladden Cllr Mary Rasmussen LCVS 151 Dale Slreet Liverpool. L2 2AH Paula Sanchez AGCA Score Lane Liverpool. L16 5EF (Resigned 17th May 20231 (Appolnted 17th May 20231 Accountants Independent Examiner TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS The charily trustees ar8 responsible for preparing a trustees, annual report and financial statements in accordance wlth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountinq Practice). The law applicable lo chaiities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In prepartng the financial statements, the trLislees are required to= select suitable accounting policies and then apply them consistently. LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD MAYOR'S NO.2 (CHARITY) ACCOUNT TRUSTEE'S REPORT FOR THE YEAR ENDED 25TH MAY 2023 observe the methods and principles in th@ applicable Charities SORP., make judgements and estimaleg that are reasonable and prudent-, state whether applicable accounting standards have been followed, subject lo any material departures that must be disclosed and explained in the financial statements. prepare the financial statemp.nts 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 charily and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities {Ac¢ounls and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguardlng the assets of tho charity and taking reasonable steps for the prevention and deteclion of fraud and other irregularities. Approved by the Trusteos on and signed on their behalf by Cllr Mary Rasmussen TrusteelLord Mayor Dated **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEE OF LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD MAYOR’S NO.2 (CHARITY) ACCOUNT** **-------------------------------------------------------------------------------------------------------------------------** I report to the trustee on my examination of the financial statements of Liverpool Corporation City Justices Poor Fund or The Lord Mayor’s No.2 (‘the charity’) for the year ended 25th May 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is made solely to the charity’s trustee, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustee those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed. ## **Responsibilities and basis of report** As the trustee of the charity, you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner’s statement** 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: - ➢ accounting records were not kept in respect of the charity as required by section 130 of the Act; or - ➢ the financial statements do not accord with those records; or - ➢ the financial statements 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 financial statements to be reached. ## Name: **Paula Sanchez** ## Name of applicable listed body: **Association of Chartered Certified Accountants** Relevant professional qualification or body: **ACCA** Date _22[nd] March 2024_ 5 LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD MAYOR'S NO.2 {CHARITY) ACCOUNT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 25TH MAY 2023 Unrestricted Funds Capital Funds 2023 Income Funds 2023 Total 2023 Total 2022 Income from: Donations other trading income Notes 3,365 33,972 3,365 33,972 13,898 37,622 2b Total income 37,337 37,337 51,520 Expenditure on: Raising funds Charitable activities 16,289 37,182 16,289 37,182 14,343 26,318 Total expenditure 53.471 53,471 40,661 Net {expenditure)Ilncome, net movement In funds (16,134) 116,134) 10,859 Reconciliation of funds.. Total funds brought fonNard 35,727 35,727 24.868 Total funds carrled forward 19,593 19,593 35,727 The notes on pages 8 to 12 fomi part ofthese accounts. The net movement in the funds in the year is derived from the continuing activity of the charlly. All of the charity's funds are unrestricted for years ended 25th May 2022 and 25th May 2023. LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD MAYOR'S NO.2 (CHARITY) ACCOUNT BALANCE SHEET AS AT 25TH MAY 2023 25th May 2023 25th May 2022 Fixed assets Tangible fixed assets Notes Current assets Debtors Cash balanoes 1.692 27,433 3,883 45,418 29,125 49,301 Current liabilities Creditors due in 19.532) (13,574) Net current assets 19.593 25,727 Net assets 19,593 35,727 The funds of the charity: Unrestrlcted funds Income funds Capital funds 19,593 35,727 19,593 35,727 Approved and authorised for issue by the Trustee and signed on its behalf by Cllr Mary Rasmussen Trustee / Lord Mayor A.11￿@1. ?c)74 LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD NIAYOR'S NO.2 (CHARITY) ACCOUNT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 25TH MAY 2023 1. ACCOUNTING POLICIES Basis of Ac¢ounting The financial statements have been prepared in accordance with the Statement of Recommended Practi￿= Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard spplicable in the UK and Republic of reland IFRS102) ISORP 20191 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS102) (effective 1st January 2019) and the Charities Act 2011. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise staled in the relevant notels) to these accounts. The trust constitutes a public benefit entity as defined by FRS 102. The accounts are prepared in sterling, which is Ihe functional currency of the Gharity. Monetary amounts in these finanoial statements are rounded to the nearest £. The Charily has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not lo prepare a StateTnent of Cash Flows. Going concern At the time of approving the accounts the trustees have a reasonable expectation that the charity has adequ8le reserves to continue in operational existence for the foreseeable future. Thus, the trustees continue lo adopt the going con￿rn basis of accounting in preparing the accounts. Fund accountlng Unrestricted funds are Considered 'free' reserves and are expendable at the discretion of the Trustees in furtherance of the general objectives of the Trust. Income recognition All income is recognised once the charity has entitl8menl to the income, there is sufficient certainty of ieceipl and so it is probable that the income will be received, and the aTnount of income receivable can be measured reliably. Donations and legac18s comprise of donations and general grants which are recognised in the accounts when re¢eived, with the exception of known legacies which are accounted for when their receipt is certain. Income from other trading activities relates to fundraising events and is recognised when the amoLtnt is certain. Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or construclive obligation commilting the r.h2rily to thrlt pxp?.nditure, il 1% prohAbl? th2t .qp.ttlp.mpnt will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual basis. All expenses, including support and governance costs, are allocated or apportioned to the applicable expenditure headings in the statemenl of financial activities. LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD MAYOR'S NO.2 (CHARITY) ACCOUNT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 25TH MAY2023 Raising funds costs relate lo expenses incurred for the fundraising events. Charitable activities include grant funding, along with associated support cosls, to beneficiaries. These are dealt with in the Statement of Financial Activltles when payment has been approved by the charily. Support costs relate to compliance with constitutional and statutory requirements and specifically include all costs incurred by the charity in producing the Annual Report. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short- term liquid investments with original maturities of three months or less, and bank overdrafts. Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charlty's balance sheet when the charily becomes party lo the contractual provisions of the instwment. Financial assets and liabilities are offset, with th8 n8t amounts presented in the financial stat6ments, when there is a legally enforceable righl 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 simultaneou51y. Basic financial assets Ba.qic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction cosls and are subsequently carried at amortised c05t using the effective interest method unless Ihe arrangement conslilutes a financing Iransaclion. where the transaction is measured at the present value of the future receipts discounted al a markel rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnancial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing Iransclction, where the debt instrument is measured at the prpspnt value of the future re￿iptS discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amorttsed cost, using the effective interest rate method. Derecognition of financial liabilities Financial liabilities are derecognised when Ihe charity's contractual obligations expire or ar8 discharged or cancelled. Taxation The charity benefits from various exemptlons from taxation afforded by tax legislation and is not liable to corporation lax on income or gains falling within those exemptions. LIVERPOOL CORPORATION CITYJUSTICES POOR FUND OR THE LORD MAYOR'S NO.2 (CHARITY) ACCOUNT TH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 25 MAY 2023 The charity is not able to recover Value Added Tax. Expenditure is rewrded in the accounts inclusive of VAT. Critical Accounting Estimates and Judgements In the applicatlon of the charity's accounting policies, the trLJStees are required to make judgements, estimates and as5UmPtions about the carrying amount of assets and liabilities that are not readily apparent from other sourcos. The e.slimates and associated assumptions aro base.d on hislorical experience and otherfaclors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basls. Revisions to accounting estimates are recognised in the period in which the estim81e is revised where the revision affects only that period, or in the period of the revision and fL¢lure periods where the revision affects both current and future periods. 2. Income and endowments from: Income Funds 2023 Capltal Funds 2023 Total Total 2023 2022 Donation and legacies Donations Donations from Lord Mayor's prize draw 50 50 10,505 3,315 3,393 3,315 3,365 3,365 13,898 b. Other trading actlvlties Fundraising activities 33,972 33,972 37,622 33,972 33,972 37,622 3. Expgnditure on raising funds: 2023 2022 Fundraising activities costs q6,289 14,343 -io- LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD MAYOR'S NO.2 {CHARITY) ACCOUNT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 25TH MAY 2023 4. Expenditure on charitable actlvities. 2023 2022 Direct charitable expenditure.. Grant funding Grant support adminislralion 35,732 800 24,868 800 36,532 25,668 2023 2022 Support and governance." Accounts preparation Independent examination 400 250 400 250 650 650 37,182 26,318 'The following grants were made during the year.. Grants of £1,000 and over Garston Adventure Speke Children Speke Training Education Centre Tom Hariison House Whilechapel Cenlre 2,866 2.866 10,000 10,000 10,000 Total granls 35,732 5. Tangible fixed assets: There were no langible fixed assets during or at year end 25th May 2023 {2022.' None) 6. Debtors: 2023 2022 Debtors 1,692 3.883 7. Creditors". 2023 2022 Accruals 9,532 13.574 li- LIVERPOOL CORPORATION CITY JUSTICES POOR FUND OR THE LORD MAYOR'S NO.2 (CHARITY) ACCOUNT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 25TH MAY 2023 8. Unrestricted Funds: Income received for distribution as grants to charitable voluntary organisalions. Movement in the year Income Expenditure 2023 Funds Brought Fonvard Funds Carried Forward Cllr Mary Rasmussen Cllr Roy Gladden 35,727 20 37,317 (35,747) (17,724) 19,593 35,727 37,337 (53,471) 19,593 Movement in the year Income Expenditure 2022 Funds Brought FonNard Funds Carried Forward Cllr Mary Rasmussen Cllr Anna Rolhery 51,520 (15,793) (24,868) 35,727 24,868 24.868 51,520 (40,661) 35.727 9. Related Party Transactions. The charity considers there to be no related party transactions during the period and last year and the Truste8 receive no remLtneration or expenses as part of th8ir role as Trustee of the charity. -12-