**Charity Registration No. 234521** **Company Registration No. 246811 (England and Wales)** # **THE LIVERPOOL CITY MISSION (INCORPORATED) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2020** ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Committee Members** Mr R A Watson Mr J Boyle Mr P G Smith **Charity number** 234521 **Company number** 246811 **Principal address** 20 Mount Pleasant Liverpool L3 5RY **Registered office** 20 Mount Pleasant Liverpool L3 5RY **Independent examiner** Jean Ellis BA FCA CTA DSG Castle Chambers 43 Castle Street Liverpool L2 9TL **Bankers** Barclays Bank Plc Lord Street Liverpool **Solicitors** Fiona Bruce & Co LLP Solicitors 3 Grappenhall Road Stockton Heath Warrington **Investment advisors** Tilney Bestinvest Royal Liver Building Liverpool ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **CONTENTS** ||**Page**| |---|---| |Committee Members' report|1 - 4| |Independent examiner's report|5| |Statement of financial activities|6| |Balance sheet|7 - 8| |Notes to the accounts|9 - 18| ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **COMMITTEE MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ The Committee Members present their report and financial statements for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Mission's Memorandum and Articles of Association , the Companies Act 2006 and "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** The objectives of the charity are to promote the diffusion of religious knowledge and thought throughout the City of Liverpool and the neighbouring districts in Lancashire and Cheshire known as Merseyside and generally to assist and encourage the moral welfare of the citizens. We aim to present the Christian message of the gospel of Jesus Christ as written in the Holy Scriptures to men, women and children with particular emphasis on reaching out to those in need, whatever those needs may be. Every day we will preach Christ by our words and actions. The policies adopted in furtherance of these objects are to invest in the relief and rescue work of the Mission discarding extraneous, core-activities. ## **The charity’s key objectives for the year were:-** To comply with the Government's guidance relating to COVID-19 ensuring the maximum safety and protection for our staff, volunteers and customers. To minister to the needs of the street homeless, poor, needy, vulnerable and those with addiction problems in the city of Liverpool and neighbouring district. To run an outreach work providing a safe warm and friendly environment, free hot meals and drinks, clothing, bedding and food, counsel and spiritual counsel. To convey the gospel of Jesus Christ clearly and relevantly to those we reach. To support and provide guidance to churches affiliated to the charity. To set and closely manage a financial budget for the year. The Committee Members have paid due regard to guidance issued by the Charity Commission in deciding what activities the Mission should undertake. The Trustees confirm that they have referred to the general guidance contained in the Charity Commission's "general guidance on public benefit" when reviewing the Missions aims and objectives, and in the planning of activities. The Charity makes considerable use of volunteers in the course of its activities at the outreach centre. Duties include:- Assisting in the preparation and serving of food, washing dishes and clearing up, sorting tinned foods and clothing and giving these out to those in need. A number of new volunteers were recruited during the year and we look to grow our pool of volunteers in the future. We have been delighted to welcome as volunteers, students studying at local universities and they have brought much enthusiasm and vibrance to our outreach work. Most volunteers come from local churches, although not exclusively. - 1 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **COMMITTEE MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **Achievements and performance** Prior to lockdown, we were able to maintain a service of providing regular breakfasts for homeless ‘roughsleepers’ from our City Centre café. This work is run by various staff members and local volunteers. Our staff were on hand to provide personal counselling and help to those in need. Food and clothing donations continued to be received from churches, individuals, local organisations and schools, and freely distributed to those in need, especially the homeless. Deputation visits were made to churches, and various organisations, prior to lockdown to promote the work of the charity. As a result of these visits we received various forms of support including donations. We were able to make some minor improvements to our buildings and update some equipment. Many volunteers supported the work without whose help much of the work would not be able to be done. We are grateful to all who contributed at different times. The work is promoted through our publications including a regular prayer diary. A budget was set and agreed at the beginning of the year and was regularly monitored. A number of essential policies were reviewed and implemented during the year. ## **Financial review** The charity received incoming resources of £113,902 (2019: £92,556) and expended £69,553 (2019: £100,425) which, after net losses on investments of £22,827 (2019: gains of £41,361), resulted in a net increase in funds of £21,522 (2019: £33,492). The balance sheet of the charity remains strong with a net asset value of £542,011 (2019: £520,489). No funds were materially in deficit during 2020. Principal funding sources are donations from Liverpool City Mission Churches, investments, individuals, trusts, Government return to work grants, personal donations, Gift Aid and local organisations support. It is the policy of the charity that unrestricted funds that have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. Approximately 50% of our current reserves have emanated from the sale of buildings, and this amount has been 'ring-fenced' for the future purchase of new buildings. The level of reserves has been maintained throughout the year. It was a credit to the good management of the finances over recent years, and the courage to take difficult decisions, that we were able to record a strong cash flow surplus, higher than expectations and in any previous period for some time. As a result, the Mission’s ministries and services will have a stronger platform to operate from in coming years, and will help to sustain the work for many years to come. We operated within the limits set for expenditure and pleased to record a surplus of £44,349 before losses on investments. ## **Risk factors** The trustees have assessed the major risks to which the Mission is exposed, and are satisfied that systems or procedures have been established and are in place to manage those risks. - 2 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **COMMITTEE MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **Plans for future periods** To maintain a tight control of our operating costs and seek to increase income To assess the effectiveness and actual outcomes To review and if necessary dispose of any assets that are no-longer serving their purpose and redeploy the proceeds in more effective areas To provide counsel and practical support services to our affiliated churches To review the range of services and facilities provided in our affiliated churches in order to achieve our aims in a much wider geographical area than the city centre To network and collaborate with other like-minded organisations and churches committed to the same aims To assess if the City centre outreach to homeless men and women can continue in it's previous form and from the same location, in light of identified restrictions To assist and guide the reopening of our Mission halls once the COVID-19 restrictions allow ## **Structure, governance and management** The Charity's governing document is it's Memorandum and Articles of Association incorporated 25th March 1930 as amended by Special Resolution dated 27th March 1950, Liverpool City Mission Incorporated is a Limited Company, limited by guarantee (the word "Limited" being omitted by Licence of the Board of Trade). The Members of the Committee, who are also directors for the purposes of company law, who served during the year were: Mr R A Watson Mr J Boyle Mr P G Smith New trustees are appointed following nominations and voting by the existing trustees. Trustees with a good balance of skills are sought. New trustees undergo a full induction process and receive copies of key / relevant documents from both the Charity Commission and Companies House outlining the role and responsibilities of a charity trustee. None of the Committee Members has any beneficial interest in the company. All of the Committee Members are members of the company and guarantee to contribute £1 in the event of a winding up. The Mission Director (formerly known as CEO) has primary responsibility for the finances of the Mission. Controlling the budget and monitoring the investment portfolio performance. There were three Trustees at the end of this financial year. They are responsible for the finances of the charity, the appointment and pastoral welfare of the Mission staff, and general oversight of running of the work of the Mission. These decisions are made at periodic general meetings. Liverpool City Mission is also affiliated to the City Mission Movement (formerly the British Association of City Missions) which networks with approximately 20 City/Town Missions in the British Isles to establish and strengthen fellowship and operational links. The Trustees have responsibility for setting the pay and remuneration of the charity’s key personnel and this is done on an annual basis, including a formal cost of living review. - 3 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **COMMITTEE MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime. On behalf of the board of Committee Members. **Mr R A Watson** Trustee Dated: 13 July 2021 - 4 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE COMMITTEE MEMBERS OF THE LIVERPOOL CITY MISSION (INCORPORATED)** I report to the Committee Members on my examination of the financial statements of The Liverpool City Mission (Incorporated) (the Mission) for the year ended 31 December 2020. ## **Responsibilities and basis of report** As the Committee Members of the Mission (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the Mission 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 the Mission’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable 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 that in any material respect: - 1 accounting records were not kept in respect of the Mission as required by section 386 of the 2006 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements 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 - 4 the financial statements 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 financial statements to be reached. Jean Ellis BA FCA CTA DSG Castle Chambers 43 Castle Street Liverpool L2 9TL Dated: 13 July 2021 - 5 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2020**
**2020**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
54,626
23,000
In furtherance of the
charity's objectives
**3**
2,400
-
Investments
**4**
12,593
-
Other income
**5**
21,283
-
**Total income**
90,902
23,000
**Expenditure on:**
Raising funds
**6**
4,839
-
Charitable activities
**7**
41,714
23,000
**Total resources**
**expended**
46,553
23,000
Net gains/(losses) on
investments
**11**
(22,827)
-
**Net movement in funds**
21,522
-
Fund balances at 1
January 2020
520,489
-
**Fund balances at 31**
**December 2020**
542,011
-|**Total**Unrestricted
Restricted
funds
funds
**2020**
2019
2019
**£**
**£**
**£**
77,626
33,499
36,375
2,400
5,200
-
12,593
17,477
-
21,283
5
-
113,902
56,181
36,375
4,839
4,927
-
64,714
59,123
36,375
69,553
64,050
36,375
(22,827)
41,361
-
21,522
33,492
-
520,489
486,997
-
542,011
520,489
-|Total
2019
**£**
69,874
5,200
17,477
5
92,556
4,927
95,498
100,425
41,361
33,492
486,997
520,489| |---|---|---| The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 6 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2020**_ |**Notes**
**Fixed assets**
Tangible assets
**12**
Investments
**13**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**15**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds
Designated funds
**17**
General unrestricted funds|**2020**
**£**
3,000
69,340
72,340
(2,955)
283,265
258,746|**£**
83,265
389,361
472,626
69,385
542,011
542,011
542,011|**2019**
**£**
3,000
36,417
39,417
(3,507)
286,223
234,266|**£**
86,223
398,356
484,579
35,910
520,489
520,489
520,489| |---|---|---|---|---| - 7 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **BALANCE SHEET (CONTINUED)** ## _**AS AT 31 DECEMBER 2020**_ The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2020. The directors acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the 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 company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Committee Members on 13 July 2021 Mr R A Watson **Trustee** ## **Company Registration No. 246811** - 8 - **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **Charity information** The Liverpool City Mission (Incorporated) is a private company limited by guarantee incorporated in England and Wales. The registered office is 20 Mount Pleasant, Liverpool, L3 5RY. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the Mission's Memorandum and Articles of Association, the Companies Act 2006 and "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)". The Mission is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling , which is the functional currency of the Mission. Monetary a mounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention modified to include the revaluation of fixed asset investments. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the Committee Members have a reasonable expectation that the Mission has adequate resources to continue in operational existence for the foreseeable future. Thus the Committee Members continue to adopt the going concern basis of accounting in preparing the financial statements.In making this assessment the Committee Members have considered the impact of potential operational challenges posed by C ovid -19 . ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Committee Members in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the Committee Members for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## **1.4 Income** Income is recognised when the Mission is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Mission has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Mission has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **1.5 Expenditure** Expenditure is accounted for on an accruals basis. - 9 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **(Continued)** ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Tangible fixed assets are stated at cost less depreciation. Improvements to buildings is depreciated at the same rate applicable to the building they relate to.Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: Land and buildings 2% straight line Property improvements 2% straight line Plant and machinery 20% reducing balance Fixtures, fittings & equipment 15% reducing balance Freehold land is not depreciated. 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 recognised in net income/(expenditure) for the year. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred. ## **1.8 Impairment of fixed assets** At each reporting end date, the Mission reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) . ## **1.9 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. Bank overdrafts are shown within borrowings in current liabilities. ## **1.10 Financial instruments** The Mission 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 Mission's balance sheet when the Mission 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. - 10 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **1 Accounting policies** ## **(Continued)** ## _**Impairment of financial assets**_ Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting 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 net income/(expenditure) for the year. 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 net income/(expenditure) for the year. ## _**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 Mission 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. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors 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 p aymen ts 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. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations 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. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Mission’s contractual obligations expire or are discharged or cancelled. ## **1.11 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the Mission is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.12 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. - 11 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **2 Donations and legacies** ||**Unrestricted**|**Restricted**|**Total**|Unrestricted|Restricted|Total| |---|---|---|---|---|---|---| ||**funds**|**funds**||funds|funds|| ||**2020**|**2020**|**2020**|2019|2019|2019| ||**£**|**£**|**£**|£|£|£| |Donations and gifts|54,626|23,000|77,626|33,499|36,375|69,874| ## **3 In furtherance of the charity's objectives** ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |Charitable rental income|2,400|5,200| ## **4 Investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2020**|2019| ||**£**|£| |Income from listed investments|12,593|17,477| |**Other income**||| ||**Unrestricted**|Unrestricted| ||**funds**|funds| ||**2020**|2019| ||**£**|£| |Other income|-|5| |CJRS Income|21,283|-| ||21,283|5| ## **5 Other income** - 12 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **6 Raising funds** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2020**|2019| ||**£**|£| |Investment management|4,839|4,927| ||4,839|4,927| |**Charitable activities**||| ||**2020**|
**2019**| ||**£**|
**£**| |Staff costs|44,907|
63,302| |Depreciation and impairment|2,958|
3,056| |Office expenses|2,863|
6,423| |Insurance|1,741|
2,240| |Sundry expenses|1,512|
376| |Cafe outreach|5,762|
3,023| |Medicash|821|
1,225| |Camp fund expenses|-|
12,011| |Legal and professional fees|720|
350| |Repairs and renewals|292|
950| ||61,576|
92,956| |Share of governance costs (see note 8)|3,138|
2,542| ||64,714|
95,498| |**Analysis by fund**||| |Unrestricted funds|41,714|
59,123| |Restricted funds|23,000|
36,375| ||64,714|
95,498| ## **7 Charitable activities** - 13 - **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **8 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Independent examination costs
-
3,138
-
3,138
Analysed between
Charitable activities
-
3,138|**2020**
**£**
3,138
3,138
3,138|**2019 Basis of**
**allocation**
**£**
2,542 Governance
2,542
2,542| |---|---|---| Governance costs includes payments to the independent examiner of £3,138 (2019: £2,542) for examination fees and £nil (2019: £nil) for other services. ## **9 Committee Members** With the exception of Mr R A Watson, as disclosed in note 18, none of the Committee Members (or any persons connected with them) received any remuneration during the year, and none of them were reimbursed for travelling expenses (2019: £nil). ## **10 Employees** The average monthly number of employees during the year was: ||**2020**|**2019**| |---|---|---| ||**Number**|**Number**| |Activities in furtherance of the charity's objectives|2|3| |**Employment costs**|**2020**|**2019**| ||**£**|**£**| |Wages and salaries|42,311|61,512| |Social security costs|1,816|1,056| |Other pension costs|780|734| ||44,907|63,302| There were no employees whose annual remuneration was £60,000 or more. - 14 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **11 Net gains/(losses) on investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2020**|2019| ||**£**|£| |Revaluation of investments|(18,122)|
42,774| |Gain/(loss) on sale of investments|(4,705)|
(1,413)| ||(22,827)|
41,361| ## **12 Tangible fixed assets** |**Cost**
At 1 January 2020
At 31 December 2020
**Depreciation and impairment**
At 1 January 2020
Depreciation charged in the year
At 31 December 2020
**Carrying amount**
At 31 December 2020
At 31 December 2019|**Land and**
**buildings**
**Property**
**improvements**
**Plant and**
**machinery**
**Fixtures,**
**fittings &**
**equipment**
**£**
**£**
**£**
**£**
75,400
50,566
29,082
26,396
75,400
50,566
29,082
26,396
34,176
8,016
27,653
25,376
1,508
1,011
286
153
35,684
9,027
27,939
25,529
39,716
41,539
1,143
867
41,224
42,550
1,429
1,020|**Total**
**£**
181,444
181,444
95,221
2,958
98,179
83,265
86,223| |---|---|---| The Mission owns or has been appointed Trustee for certain properties for which no original cost value is shown in the above figures. The properties are used in furtherance of the charity's objectives. - 15 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **13 Fixed asset investments** ||**Listed**| |---|---| ||**investments**| ||**£**| |**Cost or valuation**|| |At 31 December 2020|398,356| |Additions|39,949| |Valuation changes|(18,122)| |Disposals|(30,822)| |At 31 December 2020|389,361| |**Carrying amount**|| |At 31 December 2020|389,361| |At 31 December 2019|398,356| ## **Fixed asset investments revalued** I nvestments are included at revalued amounts, being the market value of shares at the year end. The historical cost of the shares was £379,157 (2019: £371,545). |**14**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**15**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2020**
**£**
3,000
**2020**
**£**
2,955|**2019**
**£**
3,000
**2019**
**£**
3,507| |---|---|---| - 16 - **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **16 Restricted funds** The income funds of the Charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: ||**Movement**|**in funds**||**Movement in funds**|**Movement in funds**|| |---|---|---|---|---|---|---| ||**Incoming**|**Resources**|**Balance at**|**Incoming**|**Resources**|**Balance at**| ||**resources**|**expended**
**1**|**January 2020**|**resources**|**expended**|**31 December**| |||||||**2020**| ||**£**|**£**|**£**|**£**|**£**|**£**| |Camp fund|1,627|(1,627)|
-|-|-|-| |Salary contributions|34,748|(34,748)|
-|23,000|(23,000)|
-| ||36,375|(36,375)|
-|23,000|(23,000)|
-| Camp fund **-** This represents the income and expenditure in respect of the annual camp. Salary contributions are funds received from churches to help fund the payroll costs of the charity. ## **17 Designated funds** The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: |||**Movement**||||| |---|---|---|---|---|---|---| |||**in funds**||||| ||**Balance at**|**Incoming**||**Balance at**|**Resources**|**Balance at**| ||**1 January 2019**|**resources**|
**1**|**January 2020**|**expended**|**31 December**| |||||||**2020**| ||**£**|
**£**||**£**|**£**|**£**| |Tangible fixed asset fund|89,279|
(3,056)||
86,223|(2,958)|
83,265| |New premises fund|200,000|
-||200,000|-|200,000| ||289,279|
(3,056)||
286,223|(2,958)|
283,265| In order to accurately show the reserves tied up in fixed assets held by the charity, a designated tangible fixed asset fund has been be created. The fund reflects the net book value of the tangible fixed assets used operationally by the charity. Premises at Jubilee Drive were disposed of in 2015. It is intended that this building will be replaced with larger premises when they become available and affordable. The search for a suitable building is ongoing and therefore a new premises fund has been set aside for this purpose. - 17 - ## **THE LIVERPOOL CITY MISSION (INCORPORATED)** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_ ## **18 Related party transactions** ## **Remuneration of key management personnel** The remuneration of key management personnel is as follows. ||**2020**|**2019**| |---|---|---| ||**£**|**£**| |Aggregate compensation|22,416|17,292| The position of Mission Director (remunerated and formerly known as CEO) is occupied by Mr R Watson (an existing Trustee).The procedure for the appointment was guided, and approved by, the Charity Commission This position has now been incorporated into the shared responsibilities of the Chair of Trustees under the title of Executive Chairman. This position represents key management personnel of the charity. - 18 -