2021-12-31-accounts

Charity registration number 234521

Company registration number 246811 (England and Wales)

THE LIVERPOOL CITY MISSION (INCORPORATED)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

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
Notes to the accounts	8 - 17

THE LIVERPOOL CITY MISSION (INCORPORATED)

COMMITTEE MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2021

The Committee Members present their annual report and financial statements for the year ended 31 December 2021.

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 minister to those in poverty, needy, vulnerable and those with addiction problems in and around Liverpool, using whatever means possible within the range of our possible resources.

• 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 through faithful stewardship.

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 2021

Achievements and performance

• As Government restrictions began to ease towards the year end, our Mission Halls were able to reopen and resume most of their usual services and outreach activities.

• Prior to lockdown, we were able to maintain a service of providing regular breakfasts for homeless ‘rough-sleepers’ 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.

• We were able to make some minor improvements to our buildings and update some equipment.

• We were able to distribute some food and clothing along with toiletries and essentials to those in need.

• Due to Covid restrictions for ourselves and other organisations, we were only able to promote our work online, through newsletter updates and other remote methods.

• Many volunteers supported the work, without whose help much of the work would not be possible. We are grateful to all who contributed at different times.

• A budget was set and agreed at the beginning of the year, and regularly monitored.

• A number of essential policies were reviewed and implemented during the year.

Financial review

The charity received incoming resources of £93,907 (2020: £113,902) and expended £63,924 (2020: £69,553) which, after net gains on investments of £29,034 (2020: losses of £22,827), resulted in a net increase in funds of £59,017 (2020: £21,522). The balance sheet of the charity remains strong with a net asset value of £601,028 (2020: £542,011).

No funds were materially in deficit during 2021.

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 £29,983 before gains 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 2021

Plans for future periods

• To maintain a tight control of our operating costs and seek to increase income

• To expand our outreach services at various locations to be known as Community Hubs

• 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 restricitions

• 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

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 2021

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

10 May 2022

• 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 2021.

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: 10 May 2022

• 5 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Restricted funds funds 2021 2021 Notes £ £	Unrestricted Restricted funds funds 2021 2021 Notes £ £	Unrestricted Restricted funds funds 2021 2021 Notes £ £	Total Unrestricted Restricted	Total Unrestricted Restricted	Total Unrestricted Restricted	Total 2020 £ 77,626 2,400 12,593 21,283 113,902 4,839 64,714 69,553
	funds	funds		funds	funds
	2021	2021	2021	2020	2020
	£	£	£	£	£
Income and endowments from:
Donations and legacies 2	35,169	16,000	51,169	54,626	23,000
In furtherance of the charity's objectives 3
	-	-	-	2,400	-
Investments 4	17,497	-	17,497	12,593	-
Other income 5	25,241	-	25,241	21,283	-
Total income	77,907	16,000	93,907	90,902	23,000
Expenditure on:
Raising funds 6	5,001	-	5,001	4,839	-
Charitable activities 7	42,923	16,000	58,923	41,714	23,000
Total expenditure	47,924	16,000	63,924	46,553	23,000
Net gains/(losses) on investments 11			29,034		-
	29,034	-		(22,827)		(22,827)
						21,522 520,489 542,011
Net movement in funds	59,017	-	59,017	21,522	-
Fund balances at 1 January 2021
	542,011	-	542,011	520,489	-
Fund balances at 31 December 2021
	601,028	-	601,028	542,011	-

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 2021

Notes	2021		2020
	£	£	£	£
Fixed assets
Tangible assets 12 Investments 13 Current assets	4,000 174,728 178,728 (2,728)	80,386 344,642 425,028 176,000 601,028 601,028 601,028	3,000 69,340 72,340 (2,955) 283,265 258,746	83,265
				389,361
				472,626
Debtors 14
Cash at bank and in hand Creditors: amounts falling due within one year 15
Net current assets				69,385
Total assets less current liabilities	280,386 320,642
				542,011
Income funds
Unrestricted funds
Designated funds 17
General unrestricted funds
				542,011
				542,011

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 2021.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 10 May 2022

Mr R A Watson

Trustee

Company registration number 246811

• 7 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

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 amounts 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 Covid-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.

• 8 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is accounted for on an accruals basis.

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 the statement of financial activities.

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.

• 9 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

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.

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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

• 10 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

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.

2 Donations and legacies

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2021	2021	2021	2020	2020	2020
	£	£	£	£	£	£
Donations and gifts	35,169	16,000	51,169	54,626	23,000	77,626

3 In furtherance of the charity's objectives

	2020
	£
	2020
	£
Charitable rental income	2,400

4 Investments

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
	£	£
Income from listed investments	17,497	12,593

• 11 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Other income

	Unrestricted Unrestricted funds funds 2021 2020 £ £	Unrestricted Unrestricted funds funds 2021 2020 £ £	Unrestricted Unrestricted funds funds 2021 2020 £ £
		funds	funds
		2021	2020
		£	£
	CJRS Income	25,241	21,283
6	Raising funds
	Unrestricted Unrestricted funds funds 2021 2020 £ £ Investment management 5,001 4,839 5,001 4,839
		funds	funds
		2021	2020
		£	£
		5,001	4,839
		5,001	4,839

• 12 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

7 Charitable activities

	2021	2020
	£	£
Staff costs	46,630	44,907
Depreciation and impairment	2,879	2,958
Office expenses	390	2,863
Insurance	1,858	1,741
Sundry expenses	925	1,512
Cafe outreach	-	5,762
Medicash	821	821
Legal and professional fees	2,590	720
Repairs and renewals	700	292
	56,793	61,576
Share of governance costs (see note 8)	2,130	3,138
Analysis by fund
	58,923	64,714
Unrestricted funds	42,923	41,714
Restricted funds	16,000	23,000
	58,923	64,714

8 Support costs

Support costs Governance costs £ £	Support costs Governance costs £ £	Support costs Governance costs £ £	2021	2020 Basis of allocation £ 3,138 Governance 3,138 3,138
	£	£	£
Independent examination costs	-	2,130	2,130
	-	2,130	2,130
Analysed between
Charitable activities	-	2,130	2,130

Governance costs includes payments to the independent examiner of £2,130 (2020: £3,138) for examination fees and £nil (2020: £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 (2020: £nil).

• 13 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

10 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:	The average monthly number of employees during the year was:	The average monthly number of employees during the year was:
2021 2020 Number Number
Activities in furtherance of the charity's objectives	3	2
Employment costs	2021	2020
	£	£
Wages and salaries	43,229	42,311
Social security costs	2,377	1,816
Other pension costs	1,024	780
	46,630	44,907

There were no employees whose annual remuneration was more than £60,000.

11 Net gains/(losses) on investments

Unrestricted Unrestricted funds funds 2021 2020 £ £ Revaluation of investments 24,129 (18,122) Gain/(loss) on sale of investments 4,905 (4,705) 29,034 (22,827)	Unrestricted Unrestricted funds funds 2021 2020 £ £ Revaluation of investments 24,129 (18,122) Gain/(loss) on sale of investments 4,905 (4,705) 29,034 (22,827)
	funds funds
	2021 2020
	£ £
	24,129 (18,122) 4,905 (4,705) 29,034 (22,827)
Revaluation of investments
Gain/(loss) on sale of investments

• 14 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

12 Tangible fixed assets

Tangible fixed assets
	Land and buildings Property improvements Plant and machinery Fixtures, fittings & equipment				Total
	£	£	£	£	£
Cost
At 1 January 2021	75,400	50,566	29,082	26,396	181,444
At 31 December 2021	75,400	50,566	29,082	26,396	181,444
Depreciation and impairment
At 1 January 2021	35,684	9,027	27,939	25,529	98,179
Depreciation charged in the year	1,508	1,012	229	130	2,879
At 31 December 2021	37,192	10,039	28,168	25,659	101,058
Carrying amount
At 31 December 2021	38,208	40,527	914	737	80,386
At 31 December 2020	39,716	41,539	1,143	867	83,265

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.

13 Fixed asset investments

Listed investments £	Listed investments £
Cost or valuation
At 31 December 2021 389,361
Additions 37,290
Valuation changes 24,129
Disposals (106,138)
At 31 December 2021	344,642
Carrying amount
At 31 December 2021	344,642
At 31 December 2020	389,361

Fixed asset investments revalued

Investments are included at revalued amounts, being the market value of shares at the year end. The historical cost of the shares was £314,473 (2020: £379,157).

• 15 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

14 Debtors

14 Debtors
Amounts falling due within one year: Other debtors 15 Creditors: amounts falling due within one year	2021	2020
	£	£
	4,000	3,000
Accruals and deferred income	2021	2020
	£	£
	2,728	2,955

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	Movement in funds
	Incoming	Resources			Balance at	Incoming	Resources		Balance at
	resources	expended		1	January 2021	resources	expended		31 December
									2021
	£	£			£	£	£		£
Salary contributions	23,000	(23,000)			-	16,000	(16,000) -

Salary contributions are funds received from churches to help fund the payroll costs of the charity.

• 16 -

THE LIVERPOOL CITY MISSION (INCORPORATED)

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

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:

Balance at 1 January 2020 Resources expended Balance at 1 January 2021 Resources expended Balance at 31 December 2021 £ £ £ £ £ Tangible fixed asset fund 86,223 (2,958) 83,265 (2,879) 80,386	Balance at 1 January 2020 Resources expended Balance at 1 January 2021 Resources expended Balance at 31 December 2021 £ £ £ £ £ Tangible fixed asset fund 86,223 (2,958) 83,265 (2,879) 80,386	Balance at 1 January 2020 Resources expended Balance at 1 January 2021 Resources expended Balance at 31 December 2021 £ £ £ £ £ Tangible fixed asset fund 86,223 (2,958) 83,265 (2,879) 80,386	Balance at 1 January 2020 Resources expended Balance at 1 January 2021 Resources expended Balance at 31 December 2021 £ £ £ £ £ Tangible fixed asset fund 86,223 (2,958) 83,265 (2,879) 80,386	Balance at 1 January 2020 Resources expended Balance at 1 January 2021 Resources expended Balance at 31 December 2021 £ £ £ £ £ Tangible fixed asset fund 86,223 (2,958) 83,265 (2,879) 80,386	Balance at 1 January 2020 Resources expended Balance at 1 January 2021 Resources expended Balance at 31 December 2021 £ £ £ £ £ Tangible fixed asset fund 86,223 (2,958) 83,265 (2,879) 80,386
	£	£	£	£	£
	86,223		83,265
Tangible fixed asset fund		(2,958)		(2,879)	80,386
New premises fund	200,000	-	200,000	-	200,000
	286,223		283,265
		(2,958)		(2,879)	280,386

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.

18 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

	2021	2020
	£	£
Aggregate compensation	23,718	23,417

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.

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