OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Charity registration number 270700

Company registration number 01204400 (England and Wales)

MENPHYS LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

MENPHYS LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M J D Traynor OBE FIH - Chair
N J Hammonds - Vice Chair
S E Abraham NNEB - Honorary Treasurer
I D Knight LLB Solicitor (non practising)
Prof G W E Rees BA MSc PhD
A J Daly BSc PGCE
L Franklin LLB FCILEx
E L Spradbury BA MCIPD
L C Marsden
President Jennifer, Lady Gretton
Chief Executive Officer I Caldwell
Charity number 270700
Company number 01204400
Principal address Bassett Centre
Bassett Street
Wigston
Leicester
LE18 4PE
Registered office West Walk Building
110 Regent Road
Leicester
LE1 7LT
Auditor Newby Castleman LLP
West Walk Building
110 Regent Road
Leicester
LE1 7LT

MENPHYS LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Bankers

National Westminster Bank Plc 1 Granby Street Leicester LE1 6EJ Santander UK Plc 1st Floor Operations Block Bridle Road Bootle Merseyside L30 4GB Barclays Bank Plc Town Hall Square Leicester Leicestershire LE87 2BB

MENPHYS LIMITED

CONTENTS

Page
Trustees' report 1 - 10
Independent auditor's report 11 - 14
Statement of financial activities 15
Balance sheet 16 - 17
Statement of cash flows 18
Notes to the financial statements 19 - 35

MENPHYS LIMITED

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees who are Directors of the charitable company present their report and financial statements for the year ended 31[st] March 2023.

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 charity’s governing document, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), Accounting and Reporting by Charities: Statement of Recommended Practice for charities applying FRS 102 (October 2019), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

OBJECTIVES & ACTIVITIES

The overall objective of the charity is to relieve and prevent suffering caused by mental or physical ill health, especially by supporting children and young people and their families. These are set out in our Vision Statement, Mission Statement and our Values.

• Vision Statement

Our ambition is for a future full of equal choices and opportunities for disabled children, young people and their families, empowering them to live as ordinary lives as possible and aspiring for the extraordinary.

• Mission Statement

Our mission is to deliver a quality service that values the views and enables the voice of disabled children, young people and their families in Leicester, Leicestershire and Rutland to be heard. We aim to provide a range of holistic, impartial, empowering specialist services both through our own resources and in partnership with the statutory authorities and other voluntary sector groups.

Within the framework of everything, we do, we aim to identify unmet needs and offer effective support, which is in line with current legislation and concepts of good practice.

We value diversity and believe that every child or young person, whatever their needs, has the equal right to take part fully in their community and to have the same choices, opportunities and experiences as other children. Our ambition is to help families live as ordinary lives as possible.

• Values

Menphys aims to work effectively and efficiently with regards to the law and the following values:

MENPHYS LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Menphys continues to focus on the development of the Charity’s management and operational structures and resources, with the aim of building a sustainable funding model whilst continuing to provide high quality care and services.

The delivery of services is aligned around 4 core service pillars: Clubs & Groups; Family Support; Individual Support; Employability and Work Experience.

The growth, expansion and development of services has now been set out in the Charity’s 3 year strategy which aligns with the key aims of the Charity. These aims are to:

Whilst these aims are underpinned by the significant investment that Menphys continues to make in its core facilities the immediate and future growth and expansion of services has been enabled through key partnerships and the development of services in a number of locations across the City and Counties.

The Hub continues to be the Head Office for the Charity and a focus for the delivery, development and expansion of services as well as core event fundraising, community activities and commercial trading.

The Donation Centre, along with Latimer St, provides valuable income to the charity, incorporating both a coffee shop and shops for selling donated goods. The Donation Centre has also been ear-marked for the development of the new Family Support Service with office accommodation being developed in readiness.

The ‘out-base’ model developed at Barley Croft some years ago has been extended to Parent & Toddler Groups and After School Clubs. Menphys now operates from a total of 12 locations enabling Menphys to reach more families from across a much broader geography of the city and county.

Collaboration with key partners, such as the Leicester Riders, Leicester City Football Club and Leicestershire County Cricket, is a key enabler of the growth and expansion elements of the strategy and is set to continue.

Menphys remain committed to providing and developing a range of holistic services for families with children and young people with disabilities from across Leicester, Leicestershire, and Rutland. This will continue to be founded on research and understanding of their broader needs.

The charity measures the impact of its aims and objectives by monitoring participation levels of service users in the various services and activities the charity provides. This is measured in numbers of participants and in the number of hours of participation.

Activities

1) Menphys Activity Clubs and Groups

The Menphys Saturday and After School Clubs operate during term time offering children and young people with a range of disabilities the opportunity to meet within a friendly, supportive and

MENPHYS LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

needs-led environment. Here they can enjoy social engagement with other children, develop social confidence and new skills and build friendships and have fun. These Clubs also support Club Member’s parents, carers and siblings, providing them with much needed respite.

The Parent & Toddler Groups provide opportunities for parents of young children to come together in a supported play environment where they benefit from the interaction and companionship of other parents whilst their children benefit from greater social inclusion through play in the very early years of their lives.

2) Family Support

The Family Support pilot has continued to deliver significant support and secure much needed benefits for families assisting them to complete applications for Disability Living Allowance (DLA) and Personal Independence Payments (PIP) allowances, school provisions and Education Health and Care Plans (EHCPs).

3) Individual Support

Menphys provides tailored opportunities and support. These are aimed at meeting the particular needs of individuals and groups of children, young people and their families. Support is delivered directly by Menphys staff, volunteers or through specialist and trusted third party providers.

This enables children and young people to enjoy life enriching experiences with their families. It also provides them with life-enhancing skills and personal development opportunities.

4) Experience and Employability Programme

Prior to COVID Menphys operated 2 employability and life skills programmes for young adults with a disability, the Work Ready Crew (WRC) and Volunteer Development Programmes (VDP) offering high quality work experience to support the transition into adulthood.

Evidence from the two pilots and further research in 2022-23 has shown that young people with a disability often need extra help to build key life skills and confidence, particularly in the context of work. They also need access to employers who are in tune with their needs.

Using this research, Menphys will now look to develop a single Employability Programme that will support young people as they transition into adulthood.

5) The Menphys Nurseries

Menphys Limited is associated with the two Leicestershire County Council run and maintained Nursery Schools at Launceston Road, Wigston, Leicester LE18 2FR and Sketchley Hill, Burbage, LE10 2DY. Funding for the construction of both these Nurseries was provided by Menphys Limited, and the charity continues to provide adhoc additional financial support when required.

To maintain the link, two representatives from the Menphys Charity sit on the Governing Body of both Maintained Nursery Schools.

• Public Benefit Statement

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aim and objectives. The charity provides public benefit through the services provided to all disabled children, young people and their families in Leicester, Leicestershire, and Rutland.

Menphys volunteers continued to play a key role in the delivery of services and events during the year. Whilst the number of volunteers supporting the charity has increased in all locations throughout the year this is a key area of focus for further growth in 2023.

MENPHYS LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

ACHIEVEMENTS AND PERFORMANCE

Throughout the year the number of children and families registered with Menphys for support continued to grow. This enabled Menphys to extend its reach and grow its impact by providing more immediate and longer term social benefits to the children, young people and families and wider communities we support through increasing participation and expanded and new service developments.

These achievements include:

1) Menphys Activity Clubs and Groups

Menphys operate a range of clubs to provide children and young people, with a range of disabilities, with the opportunity to meet within a friendly, supportive and needs-led environment where they can enjoy social engagement with other children, develop social confidence and new skills and build friendships and have fun.

2) Employability and Life Skills Programmes

In total they were provided with a total of 135 hours of work experience.

3) Individual Support

4

MENPHYS LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

This ongoing project has been delivered in collaboration with 5 local SEN and one mainstream school utilising a grant of £25k from the Randal Foundation.

Now in its 2[nd] year the project has successfully helped accelerate the speech and language development of the children participating in the programme. Most notably the programme has provided the evidence required for 11 children to be accepted by the Local Authority on to their Electronic Assistive Technology Service (EATS), which will provide them with a device.

This, in turn, has enable their Menphys device to be recycled back in to the programme and distributed to other children joining the programme.

4) Family Support

Menphys helped families secure nearly £44,000 of benefits.

Following the success of the pilot programme Menphys have designated £250k to fund its development into a core service launching in the autumn of 2023.

Children and families enjoyed a total of 5,240 hours of activities with the programme.

5) Community Support

The Menphys Hub and The Donation Centre continue to provide support to the local community through the provision of volunteering opportunities for members of the local community in the Coffee Shop, Shops and Library.

The Menphys Hub, especially the Library, is a valuable community resource in South Wigston. In addition to providing meeting rooms and disability friendly facilities it is also a place for people to meet and to access library services.

In addition to the conventional services, the Library also has a ‘community table’ which is available to local community groups on a free of charge basis to come together and to support members.

5

MENPHYS LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Groups regularly using the Community Table during the year had a total of approximately 40 members:

FINANCIAL REVIEW

The results for the year ended 31 March 2023 are shown in the Statement of Financial Activities on page 15. This, together with the balance sheet on pages 16-17, should be read in conjunction with the related notes which have been prepared in accordance with the Charities SORP 2019 (FRS 102).

Total income for the year amounted to £777,639 (2022 - £1,255,508). The principal funding source continued to be income from legacies and donations including the sale of donated goods. Total expenditure for the year amounted to £838,103 (2022 - £636,099). A breakdown of expenditure is set out in notes to the financial statements.

After transfers between funds, there was a net decrease in unrestricted funds for the year totalling £35,189 and a net decrease in restricted funds totalling £25,235. This has resulted in a total decrease in funds for the year of £60,424. The funds for the charity at the year-end totalled £1,528,451 which comprise restricted funds of £214,875 and unrestricted funds of £1,313,576, of which £635,901 has been designated (for the purposes stated in note 23) leaving £677,675 as general funds.

Reserves Policy

Reserves are needed to provide financial resilience to cope with periods of adverse financial conditions, most notably an unforeseeable reduction in income or inflationary pressures on the Charity’s operating costs. The Charity’s reserves policy is to maintain free reserves (unrestricted general funds less tangible and intangible fixed assets and designated funds) to a level of 9 months of budgeted expenditure, being approximately £855,000.

This will allow the Charity’s core activities to be maintained in the short to medium term. As at 31 March 2023 the Charity currently has free reserves of £616,115 (see note 24), made up of its Investments and Current Assets/(Liabilities), this is the equivalent of 5-6 months of expenditure.

Fundraising

Expenditure on raising funds totalled £424,601 (2022 - £308,595) which helped generate income from donations of £130,293 (2022 - £176,344) and income from other trading activities of £272,063 (2022 - £155,714).

Fundraising was bolstered by the receipt of legacies of £261,418 (being Menphys estimated share of the estates). This was very welcome news enabling Trustees to strengthen their commitment to continue the growth, expansion and development of services.

A full events programme was delivered during the year including, The Menphys Sports Club, an Evening With Martin O’Neill and the first Menphys Carol Concert since the COVID pandemic outbreak. All were successful however surplus’ from the programme were lower than hoped for.

At the same time, grant funding was also more challenging as Grant Giving organisations saw their funds being oversubscribed. Nevertheless, a number of organisations did provide funding.

There were 12 organisations providing funding during 2022/23 totalling £16,336, the most notable being two SHIRE Community grants from Leicestershire County Council totalling £7,890.

6

MENPHYS LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

More positively, Corporate & Community givers continued to support a number fundraising initiatives, with the Christmas List along with individual fundraisers, such as the London Marathon, making a notable contribution to funds.

Sales at the new Donation Centre shop and coffee shop and at the Latimer Street shop improved steadily throughout the year despite the continued challenges on the high street post COVID and the underlying cost of living challenges. Whilst they are not yet trading at the level required, there was very good progress made in the operation of the shops and this is reflected in consistently improving sales income.

The Hub also generated income from community events: craft fairs; music and comedy events; third party bookings, such as parties; business networking events and meetings.

All fundraising undertaken during the year was carried out directly by the charity and in line with the charity’s objectives. In order to protect vulnerable people from unreasonably intrusive or persistent fundraising approaches and pressure to donate, the charity does not make direct approaches to individual members of the public. No complaints about its fundraising activities were received by the charity during the year.

Risk Management

The trustees have identified and reviewed the major risks to which the charity is exposed. Procedures have been established to mitigate these risks and are regularly addressed at the Board meetings. Principal risks identified for the year ahead include the continued high levels of inflation and with it the cost of living, recruitment and grant funding.

PLANS FOR THE FUTURE

The development of the new 3 year strategy has provided clarity of purpose and priorities set around the 4 key service pillars.

Our key priorities are:

This is with the specific aims of meeting the needs of a wide range of children and young people with disabilities, and their families, within the limits of our own resources through the following key areas of focus:

1. Activity Clubs and Groups:

7

MENPHYS LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

2. Employability & Life-skills:

3. Individual Support:

To develop and deliver more tailored opportunities for children, young people and their families including:

4. Family Support :

The success of the pilot Family Support Service has provided the necessary insights and confidence for trustees to designate £250k to fund the launch of the Family Support Service as a core Menphys Service in the autumn of 2023.

5. Community Services

6. Retail Operations

The priority of the Board is to ensure that sufficient funds are available to maintain the current range of services to a high standard. The current financial position is such that the trustees are confident that the charity has adequate resources for the immediate future.

8

MENPHYS LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Menphys Limited is a company limited by guarantee and governed by its Memorandum and Articles of Association. It is a charity registered with the Charity Commission. It exists to provide support and services for children and young people with disabilities and to support their families and carers. The services are provided throughout Leicester, Leicestershire, and Rutland.

The following Board of Trustees have served since 1 April 2022:

The Trustees are appointed in accordance with the Company’s Articles of Association and are chosen to bring in the various knowledge, skills, and experience required to meet the charity’s objectives. New trustees are required to be put forward for re-election at the AGM following their appointment. Of the remaining trustees, one third, being the longest serving on the board, will also be put forward for reelection, if willing and proposed.

At the AGM, the Board elects a Chairman, Vice Chairman and Honorary Treasurer for an annual term. The duties and responsibilities of trustees are set out in papers issued to every board member. The guidance is reviewed regularly and re-issued, when necessary, after evaluating practice against documents such as “The Hallmarks of an Effective Charity” (Charity Commission) and The Code of Good Governance.

The Charity continues to develop its management structure, reflecting the growth of its services and activities as set out in its 2023-25 Strategy and its focus on more sustainable sources of income. It is envisaged that this will continue for the foreseeable future as more need and demand is identified and the range of services increased.

The Trustees delegate the day to day running of the charity to the Chief Executive Officer, Ian Caldwell who is supported by a number of managers with responsibilities for Services, Operations, Finance & Administration and Fundraising. Pay for the key management personnel is delegated by the trustee Board to the Remuneration Sub-committee who will consider prevailing rates of employment and inflation in their decision making.

STATEMENT OF TRUSTEES’ RESPONSIBILITES

The Trustees (who are also the Directors of Menphys Limited for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and

9

MENPHYS LIMITED

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The Trustees are responsible for keeping proper adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

AUDITORS

A resolution to reappoint Newby Castleman as auditors will be put to the members at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

……………………………….

I D Knight LL.B Solicitor (non-practising) Chair of the Board of Trustees

10

MENPHYS LIMITED

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF MENPHYS LIMITED

Opinion

We have audited the financial statements of Menphys Limited (the ‘charitable company’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustee's Report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the Trustee's Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MENPHYS LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MENPHYS LIMITED

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement set out on page 10, the trustees (who are also the directors of the charitable company for the purpose of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. However, responsibility for the prevention and detection of fraud ultimately rests with both those charged with governance and management of the charitable company.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

MENPHYS LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MENPHYS LIMITED

Audit response to risks identified

Our procedures to respond to risks identified included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

MENPHYS LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MENPHYS LIMITED

Newby Castleman LLP

Date:................

Chartered Accountants Statutory Auditor West Walk Building 110 Regent Road Leicester LE1 7LT

Newby Castleman LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

MENPHYS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations
3
111,637
18,656
Charitable activities
4
2,530
33,843
Other trading activities
5
272,063
-
Investments
6
77,492
-
Income from legacies
7
261,418
-
Total
725,140
52,499
Expenditure on:
Raising funds
8
424,535
66
Charitable activities
9
134,160
279,342
Other
12
-
-
Total
558,695
279,408
Net gains/(losses) on investments
40
-
Net incoming/(outgoing) resources before
transfers
166,485
(226,909)
Transfers between funds
22
(201,674)
201,674
Net movement in funds
(35,189)
(25,235)
Reconciliation of funds
Total funds brought forward
1,348,765
240,110
Total funds carried forward
1,313,576
214,875		 Total
2023
£
130,293
36,373
272,063
77,492
261,418
777,639
424,601
413,502
-
838,103
40
(60,424)
-
(60,424)
1,588,875
1,528,451		 Total
2022
£
176,344
41,124
155,714
66,493
815,833
1,255,508
308,595
325,023
2,481
636,099
14
619,423
-
619,423
969,452
1,588,875

The statement of financial activities includes all gains and losses recognised during the year.

All income and expenditure derive from continuing activities.

MENPHYS LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Intangible assets
16
Tangible assets
17
Investments
18
Current assets
Stocks
Debtors
19
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within one
year
20
Net current assets
Net assets
Total funds of the charity
Restricted funds
22
Unrestricted funds:
Designated funds
General funds
23
Fair value reserve
23
Total charity funds
24		 2023
£
£
1,092
543,019
301
544,412
1,091
142,922
913,834
1,057,847
(73,808)
984,039
1,528,451
214,875
635,901
677,374
1,313,275
301
1,313,576
1,528,451		 2022
£
£
2,402
564,387
261
567,050
1,247
356,199
724,966
1,082,412
(60,587)
1,021,825
1,588,875
240,110
650,048
698,456
1,348,504
261
1,348,765
1,588,875		 2022
£
£
2,402
564,387
261
567,050
1,247
356,199
724,966
1,082,412
(60,587)
1,021,825
1,588,875
240,110
650,048
698,456
1,348,504
261
1,348,765
1,588,875
567,050
1,021,825
1,588,875
240,110
1,348,765
1,588,875

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies but as this company is a charity, it is subject to audit under the Charities Act 2011.

Directors' responsibilities:

MENPHYS LIMITED

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The financial statements were approved and authorised for issue by the board of trustees on ......................... and are signed on its behalf by:

.............................. .............................. S E Abraham NNEB - Honorary Treasurer I D Knight LLB Solicitor (non practising) Trustee Trustee Company Registration No. 01204400

The notes on pages 19 - 35 form part of these financial statements.

MENPHYS LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash generated from operations
27
Investing activities
Purchase of tangible fixed assets
Investment income
Net cash generated from investing
activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(13,272)
77,492		 £
124,648
64,220
188,868
724,966
913,834		 2022
£
(35,475)
66,493		 £
427,332
31,018
458,350
266,616
724,966

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Menphys Limited is a private company limited by guarantee incorporated in England and Wales. The address of the registered office and place of business is given in the legal and administrative information page of these financial statements.

1.1 Basis of preparation

The charitable company is a public benefit entity as defined by FRS 102. These financial statements have been prepared in accordance with: the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), Accounting and Reporting by Charities: the Statement of Recommended Practice for charities applying FRS 102 (2019), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

These financial statements are prepared under the historical cost convention modified to include the revaluation of investments. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Designated funds are unrestricted funds of the charity that the trustees have decided at their discretion to set aside for specific purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.4 Income recognition

Income is recognised when the charitable company has legal entitlement 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 charitable company 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 at the earlier of the charity being notified of an impending distribution or the legacy being received. Where legacies have been notified to the charity but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Donated facilities and donated services are recognised as income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

Government grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured with reliability. If entitlement is not met, then the amounts are deferred.

Income from charitable activities primarily includes grant income and subscription fees for Saturday Clubs, Work Ready Crew and the Volunteer Development Programme. Such income is recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured with reliability. If entitlement is not met, then the amounts are deferred.

Income from trading activities includes income earned from the retail shop and café, fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Donated items of stock for resale are not recognised in the financial statements until they are sold because the trustees consider it is impractical to fair value the items due to the large volume of low value items.

Investment income is earned through holding assets for investment purposes. It comprises bank interest, dividends and room hire income, which are recognised on an accruals basis.

1.5 Expenditure recognition

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.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category. Expenditure is recognised when there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. It is recognised under the following headings:

Irrecoverable VAT is charged against the category of resources expensed for which it was incurred.

1.6 Support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and costs of raising funds and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Support costs are allocated to costs of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

The analysis of these costs is included in note 11.

1.7 Intangible fixed assets

Intangible assets are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Website 33% per annum of cost

1.8 Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% per annum of cost Short leasehold improvements Straight line over the duration of the lease Fixtures, fittings & equipment 15%, 20% and 33% per annum of cost

At each reporting end date, the charitable company reviews the carrying amounts of its tangible and intangible 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, or the asset’s cash generating unit, is estimated and compared to the carrying amount in order to determine the extent of the impairment loss (if any). Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the Statement of Financial Activities (SOFA) unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

1.11 Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the SOFA.

Investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value which is normally the transaction price excluding transaction costs. Such assets are subsequently measured at fair value and the changes in fair value are recognised in the SOFA.

1.12 Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.14 Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the SOFA on a straight line basis over the term of the relevant lease.

1.15 Taxation

Menphys Limited is a registered charity and no taxation provision is required as its income from charitable activities falls within the various exemptions available to registered charities.

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Allocation of support costs

The allocation of support costs is sensitive to changes in the level of work undertaken on each activity by the charity. The allocation is reassessed annually and amended when necessary to reflect current estimates.

3 Income from donations

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations
78,887
18,656
Coronavirus Job
Retention Scheme
-
-
Donated goods and
services
32,750
-
111,637
18,656		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
97,543
129,643
9,220
-
-
2,481
32,750
35,000
-
130,293
164,643
11,701		 Total
2022
£
138,863
2,481
35,000
176,344

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

4 Income from charitable activities

Unrestricted Restricted
funds
funds
2023
2023
£
£
Charitable services
2,530
33,843
2,530
33,843
Grant income
2,530
13,806
Family events
-
8,566
Subscriptions receivable
-
11,471
2,530
33,843		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
36,373
19,109
22,015
36,373
19,109
22,015
16,336
19,109
15,594
8,566
-
610
11,471
-
5,811
36,373
19,109
22,015		 Total
2022
£
41,124
41,124
34,703
610
5,811
41,124

5 Income from other trading activities

Unrestricted
Restricted
funds
funds
general
2023
2023
£
£
Fundraising events
76,960
-
Shop sales from donated
goods
117,104
-
Café income
77,999
-
272,063
-
Income from investments
Unrestricted
Restricted
funds
funds
2023
2023
£
£
Menphys Hub room hire
77,275
-
Dividends receivable
8
-
Interest receivable
209
-
77,492
-		 Total Unrestricted
Restricted
funds
funds
general
2023
2022
2022
£
£
£
76,960
18,285
-
117,104
87,219
-
77,999
50,210
-
272,063
155,714
-
Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
77,275
66,479
-
8
6
-
209
8
-
77,492
66,493
-		 Total
2022
£
18,285
87,219
50,210
155,714
Total
2022
£
66,479
6
8
66,493

6 Income from investments

All income from legacies recognised in the current and prior year is unrestricted.

7 Income from legacies

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

8 Expenditure on raising funds

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Fundraising
Staging fundraising
events
42,543
-
Other fundraising costs
25,246
-
Staff costs
77,406
-
Support costs (note 11)
14,950
66
160,145
66
Shop / Café expenses
Operating charity shops
1,858
-
Café expenses
23,167
-
Staff costs
161,115
-
Support costs (note 11)
78,250
-
264,390
-
424,535
66		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
42,543
17,205
-
25,246
13,617
-
77,406
65,277
-
15,016
21,405
-
160,211
117,504
-
1,858
2,047
-
23,167
11,252
-
161,115
118,265
-
78,250
59,527
-
264,390
191,091
-
424,601
308,595
-		 Total
2022
£
17,205
13,617
65,277
21,405
117,504
2,047
11,252
118,265
59,527
191,091
308,595

9 Expenditure on charitable activities

Activities
undertaken
directly
Note 10
£
Charitable services
216,085
Menphys Hub
72,934
Menphys Nurseries
7,920
SOS Closure & Restructuring
17,996
314,935
Unrestricted funds
Restricted funds		 Support
Costs
Note 11
£
65,994
27,600
-
4,973
98,567		 Total
2023
£
282,079
100,534
7,920
22,969
413,502
134,160
279,342
413,502		 Total
2022
£
211,007
85,831
7,920
20,265
325,023
118,192
206,831
325,023

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

10 Expenditure on activities undertaken directly

Charitable
services
Menphys
Hub
Menphys
Nurseries
SOS Closure &
Restructuring
£
£
£
£
Staff costs
174,540
33,139
-
3,898
Depreciation and impairment
238
7,045
7,920
14,098
Rent
-
32,750
-
-
Menphys Services costs
41,151
-
-
-
Other expenses
156
-
-
-
216,085
72,934
7,920
17,996
Expenditure on support costs
Staff costs
Depreciation and amortisation
Rent and rates
Insurance
Light and heat
Repairs and maintenance
Office and computer
Telephone
Travel
Other expenses
Analysed between:
Fundraising
Shop
Charitable activities

11 Expenditure on support costs

Support costs have been allocated to activities on a relevant basis to the nature of the underlying costs in proportion to resources used. Support costs include governance costs totalling £45,958 (2022: £41,257).

The amount charged to the SOFA in respect of auditor's remuneration was: - statutory audit £5,570 (2022 - £5,435) - other services £Nil (2022 - £1,650)

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

12 Other expenditure

Unrestricted Restricted Total Unrestricted Restricted
funds funds funds funds
2023 2023 2023 2022 2022
Wages and salaries - - - - 2,481

13 Trustees

None of the trustees received nor waived any remuneration, benefits or reimbursements from the charity during the year, or in the previous year.

14 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

15 Employees

Number of employees

The average monthly number of employees during the year was:

Governance and admin
Fundraising and trading
Charitable services
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
4
14
19
37
2023
£
426,917
24,675
5,802
457,394		 2022
Number
4
12
14
30
2022
£
320,413
16,424
3,381
340,218

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

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

16 Intangible fixed assets

Cost
At 1 April 2022 and 31 March 2023
Amortisation and impairment
At 1 April 2022
Amortisation charged for the year
At 31 March 2023
Carrying amount
At 31 March 2023
At 31 March 2022
Tangible fixed assets
Freehold
land and
buildings
Short
leasehold
improvements
Fixtures,
fittings &
equipment
£
£
£
Cost
At 1 April 2022
626,297
158,026
146,558
Additions
-
4,832
8,440
At 31 March 2023
626,297
162,858
154,998
Depreciation and impairment
At 1 April 2022
235,332
31,732
99,430
Depreciation charged in the year
7,920
13,245
13,475
At 31 March 2023
243,252
44,977
112,905
Carrying amount
At 31 March 2023
383,045
117,881
42,093
At 31 March 2022
390,965
126,294
47,128		 Website
£
3,930
1,528
1,310
2,838
1,092
2,402
Total
£
930,881
13,272
944,153
366,494
34,640
401,134
543,019
564,387

17 Tangible fixed assets

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

18 Fixed asset investments

Listed
investments
£
Valuation
At 31 March 2022 261
Revaluation 40
At 31 March 2023 301
Carrying amount
At 31 March 2023 301
At 31 March 2022 261

The company acquired 250 Alliance and Leicester shares on conversion from a Building Society to a Bank in 1997. On takeover by Santander they received a 1 for 3 share, entitling them to 83 shares in Santander. Over the years the company has received a bonus issue of shares rather than the cash dividends. Total shares held at 31 March 2023 were 100 (2022 - 100). These shares have a £nil cost. The carrying amount above the fair value is determined by reference to the quoted market price.

19 Debtors

Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
2,441
17,515
122,966
142,922		 2022
£
6,321
21,973
327,905
356,199

20 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2023
£
6,727
10,214
1,178
55,689
73,808		 2022
£
6,469
9,683
2,038
42,397
60,587

Deferred income comprises income received in advance of fundraising events taking place.

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

21 Retirement benefit schemes

The charitable company operates a defined contribution pension scheme for all qualifying employees.

The charge to the SOFA in respect of the defined contribution schemes was £5,802 (2022 - £3,381), of which £2,073 was restricted and £3,729 was unrestricted, with £2,247 being allocated as direct costs and £1,482 allocated as support costs. Expenditure has been allocated between funds and activities on a relevant basis to the nature of the underlying costs in proportion to resources used.

22 Restricted funds

The funds of the charity include restricted funds held for specific purposes:

Balance at 1
April 2022
£
Wigston Nursery
141,845
Building Fund
20,416
Menphys Activity Clubs
6,525
Volunteer Development Programme
-
Changing Places
32,355
Therapy and Sensory Rooms
17,419
Library Services
15,127
Work Ready Crew
1,000
Family Support Service
3,348
District Partner Initiative
-
Hub Development
2,075
Screwfix Foundation
-
240,110		 Movement in funds
Income Expenditure
Transfers Balance at 31
March 2023
£
£
£
£
-
(6,156)
-
135,689
-
-
-
20,416
10,163
(108,340)
94,218
2,566
-
(27,297)
27,297
-
-
(2,696)
-
29,659
-
(3,493)
-
13,926
298
(8,365)
2,501
9,561
-
(1,000)
-
-
28,561
(80,904)
49,049
54
12,332
(40,941)
28,609
-
-
(150)
-
1,925
1,145
(66)
-
1,079
52,499
(279,408)
201,674
214,875

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

22
Restricted funds
Balance at 1
April 2021
£
Wigston Nursery
148,001
Building Fund
20,416
Menphys Activity Clubs
11,408
Volunteer Development Programme
5,190
Changing Places
35,051
Therapy and Sensory Rooms
20,912
Library Services
19,142
Work Ready Crew
1,000
Family Support Service
-
Randal Foundation
9,790
District Partner Initiative
1,550
Coronavirus Job Retention Scheme
-
Hub Development
-
272,460		 (Continued)
Income Expenditure
Transfers Balance at 31
March 2022
£
£
£
£
-
(6,156)
-
141,845
-
-
-
20,416
6,201
(67,746)
56,662
6,525
-
(26,465)
21,275
-
-
(2,696)
-
32,355
-
(3,493)
-
17,419
6,019
(10,034)
-
15,127
-
-
-
1,000
16,830
(64,700)
51,218
3,348
-
(10,284)
494
-
110
(15,257)
13,597
-
2,481
(2,481)
-
-
2,075
-
-
2,075
33,716
(209,312)
143,246
240,110

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

22 Restricted funds

(Continued)

The Wigston Nursery fund represents the net book value of the Menphys Nursery Building, Wigston, which was purchased out of grants and donations specifically given for this purpose.

The Building fund represents grants and donations specifically given towards the costs of building projects.

The Menphys Activity Clubs fund offers the opportunity for children and young people with a range of disabilities to meet within a friendly, supportive and needs-led environment to socialise and have fun. The Clubs operate at a loss each year and are therefore supported by general reserves (hence the transfer of £94,218 from general reserves).

£560 was received from the Asda Community Champions Better Starts Grant to support these activities.

The Volunteer Development Programme fund represents amounts set aside to provide structured volunteering experiences for disabled young people. This was supported by a transfer from general reserves of £27,297.

The Changing Places fund - Leicestershire County Council provided grant funding to contribute to the construction of a Changing Places Toilet facility in The Menphys Hub.

The Therapy and Sensory Rooms fund - Grants were received to contribute to the construction and equipment of the new Sensory and Therapy Rooms in The Menphys Hub.

The Library Services fund - grants funding received from Leicestershire County Council to contribute to the refurbishment and running of the Library in The Menphys Hub, and for the Cultural Communities Network to host activities through the Library to use culture as a catalyst to change lives. A Section 106 contribution (£298) was received from Leicestershire County Council towards display equipment.

The Work Ready Crew fund - funding relates to monies received from the Thomas Wall Trust to provide a Toolkit to employers who offer work placement opportunities for young people with special educational needs and disabilities aged 16-25 years old.

The Family Support Service fund represents grants and donations received for enriching and engaging support direct to the families at home. The current year includes donations through the Christmas gift appeal, and a grant from Cash for Kids to provide essential items for the return to school year. This fund has been supported by a transfer of £49,049 from general reserves.

Menphys received funding from Happy Days Children's Charity to support a Pantomime trip (£1,340).

The Randal Foundation fund - We received £25,000 in the 2020/21 financial year for the purchase of iPads for socially disadvantaged, low-income family children between the ages of 5-12 to use with the assistance of their SEND schools.

The District Partner Initiative fund - includes amounts received from Leicestershire County Council SHIRE Community Grants (£7,890), Oakland Foundation (£1,656) and Charnwood Borough Council (£1,000) to support the Mini Menphys parent and toddler activities.

The Coronavirus Job Retention Scheme fund - represents funding received from the Government to cover furloughed staff costs during the Covid-19 Pandemic.

The Hub Development fund - We received £2,075 from Blaby District Council's Community Grants Scheme towards a PA system which was purchased in 2022/23.

Screwfix Foundation fund - £1,145 was received from the Screwfix Foundation to upgrade lighting at the Menphys Hub to efficient LEDs.

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

23 Unrestricted funds

The unrestricted funds of the charity include general and designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement in funds Movement in funds
Balance at Incoming Resources Transfers Investments Balance at 31
1 April resources expended gains/(losses) March 2023
2022
£ £ £ £ £ £
Designated funds
Wigston Nursery 200,000 - - - - 200,000
Menphys Hub and
Donation Centre
Development 105,048 - (22,970) 8,823 - 90,901
Clubs and Activity
Groups 60,000 - - - - 60,000
Employability
Programme 35,000 - (23,292) 23,292 - 35,000
Family Support 250,000 - - - - 250,000
650,048 - (46,262) 32,115 - 635,901
General funds 698,456 725,140 (512,433) (233,789) 677,374
Fair value reserve 261 - - - 40 301
Total 1,348,765 725,140 (558,695) (201,674) 40 1,313,576
Movement in funds
Balance at Incoming Resources Transfers Investments Balance at 31
1 April resources expended gains/(losses) March 2022
2021
£ £ £ £ £ £
Designated funds
Work Ready Crew - - (22,907) 22,907 - -
Wigston Nursery 200,000 - - - - 200,000
Menphys Hub and
Donation Centre
Development 125,312 - (20,264) - - 105,048
Clubs and Activity
Groups - - - 60,000 - 60,000
Employability
Programme - - - 35,000 - 35,000
Family Support - - - 250,000 - -
325,312 - (43,171) 367,907 - 650,048
General funds 371,433 1,221,792 (383,616) (511,153) 698,456
Fair value reserve 247 - - - 14 261
Total 696,992 1,221,792 (426,787) (143,246) 14 1,348,765

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

23 Unrestricted funds

(Continued)

The Work Ready Crew fund represents amounts set aside to give young people the necessary skills to thrive in the workplace.

The Wigston Nursery fund represents the donation of freehold land at Wigston some years ago. This freehold land is not realisable by the charity due to the covenants and agreements associated with it.

The Menphys Hub and Donation Centre Development fund represents amounts set aside for the future

development of the charity following the cessation of the SOS service.

The Clubs & Activity Groups fund represents amounts set aside to fund the expansion of the existing programmes at existing and additional locations across the City and County.

The Employability Programme fund represents amounts set aside to fund further research in to the needs of young people and gaps in existing provisions. Trustees have determined to combine and develop the existing Work Ready Crew and Volunteer Development Programmes as a single Menphys Employability Programme that will provide young people with disabilities with work insights, job experience and the skills to open their opportunities to employment. This activity has been supported by a transfer from general reserves.

The Family Support fund represents amounts set aside to fund the set-up of a new service that will help families to navigate existing statutory and non-statutory provisions including sign-posting, advice and advocacy.

24 Analysis of net assets between funds

Fund balances at 31 March 2023 are
represented by:
Intangible fixed assets
Tangible assets
Investments
Current assets/(liabilities)
Fund balances at 31 March 2022 are
represented by:
Intangible fixed assets
Tangible assets
Investments
Current assets/(liabilities)		 Unrestricted funds
General
Designated
Restricted
funds
funds
funds
£
£
£
1,092
-
-
60,468
290,901
191,650
301
-
-
615,814
345,000
23,225
677,675
635,901
214,875
Unrestricted funds
General
Designated
Restricted
funds
funds
funds
£
£
£
2,402
-
-
61,135
300,962
202,290
261
-
-
634,919
349,086
37,820
698,717
650,048
240,110		 Total
£
1,092
543,019
301
984,039
1,528,451
Total
£
2,402
564,387
261
1,021,825
1,588,875

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

25 Operating lease commitments

At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2023
£
25,949
58,091
84,040		 2022
£
33,183
86,533
119,716

Lease payments totalling £33,730 (2022: £21,883) have been recognised as an expense during the year.

26 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023 2022
£ £
Aggregate compensation 172,606 139,642

Transactions with related parties

Except for the transactions listed above and in note 13, there were no other related party transactions.

27
Cash generated from operations
(Deficit)/surpus for the year
Adjustments for:
Investment income
Fair value gains and losses on investments
Amortisation and impairment of intangible assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in stocks
Decrease/(increase) in debtors
Increase in creditors
Cash generated from operations		 2023
2022
£
£
(60,424)
619,423
(77,492)
(66,493)
(40)
(14)
1,310
1,310
34,640
33,308
156
(1,247)
213,277
(181,416)
13,221
22,460
124,648
427,331		 2023
2022
£
£
(60,424)
619,423
(77,492)
(66,493)
(40)
(14)
1,310
1,310
34,640
33,308
156
(1,247)
213,277
(181,416)
13,221
22,460
124,648
427,331
427,331

MENPHYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

28 Analysis of changes in net funds

During the year the charity had no borrowings or obligations under finance leases. The changes in net funds of the charity therefore solely comprise of cash and cash equivalents.

29 Controlling party

Menphys Limited is a company limited by guarantee and not having a share capital; it is incorporated under the Companies Act and governed by the Memorandum and Articles of Association of the charity. The trustees of the charity are elected members and act as directors of the charity who are deemed to be the controlling party of the charity.