Registered number: 01307825 Charity number: 502933
Centre 56 Limited
(A Company Limited by Guarantee) Trustees' Report and Financial Statements
For the Year Ended 31 March 2024
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Contents
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 9 |
| Statement of Trustees' Responsibilities | 10 |
| Independent Auditor's Report on the Financial Statements | 11 - 15 |
| Statement of Financial Activities incorporating the Income and Expenditure account | 16 |
| Balance Sheet | 17 |
| Notes to the Financial Statements | 18 - 32 |
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Reference and Administrative Details of the Charity, its Trustees and Advisers For the Year Ended 31 March 2024
| Dr M Birkett | |
|---|---|
| L Dixon | |
| J Wood, Chair | |
| R Gleave | |
| S M Stubbs | |
| Company registered number 01307825 Charity registered number 502933 Registered office The Foundry 42 Henry Street Liverpool England L1 5AY Company secretary J A Vincent Independent auditor BDO LLP 5 Temple Square Temple Street Liverpool L2 5RH Banker NatWest 2 - 8 Church Street Liverpool L1 3BG |
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Trustees' Report For the Year Ended 31 March 2024
The Trustees, who are also directors of the charity for the purposes of the Companies Act, present their report together with the audited financial statements of the charity for the year ended 31 March 2024 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.
The accounts have been prepared in accordance with the accounting policies set out in note 2 to the accounts and comply with the charity's governing document, applicable law and the requirements of Accounting and the Charities SORP (FRS 102).
Structure, Governance and Management
Constitution
The Charity is a company limited by guarantee and is registered as a Charity with the Charity Commission. The affairs of the Charity are governed by its Memorandum and Articles of Association. The organisation was registered as a charity on 14 January 1973 and was incorporated as a charitable company limited by guarantee on 12 April 1977.
The Charity complies with the principal recommendations of the National Housing Federation’s Code of Governance 2020 and Code of Conduct 2022.
Organisational Structure
The Trustees, who are also the directors for the purpose of company law, who served during the year and since the year end were:
Dr M R Birkett L Dixon A L Russell J Wood P Roberts - resigned 21 September 2023 J Wild - resigned 9 August 2022 R Gleave - appointed 21 March 2024 S M Stubbs 21 March 2024
None of the Trustees has any beneficial interest in the company. All the Trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Trustees are responsible for the finances and general forward planning of The Centre and managers deliver the day to day decision making. The Trustees discuss monthly outcomes and practices relating to the overall running of the service, including actual against budget at regular Board Meetings. Ideas and opportunities consultation is completed with the staff, parents and children. This information is collated to support the Trustees in making strategic decisions.
Policies adopted for the induction and training of Trustees
A matrix system is used to assess the skills of potential new trustees as it is essential that the Board has trustees with a wide range of skills and backgrounds. Prospective trustees complete an application form, interview and induction process before confirming appointment, this involves attending trustee meetings on an observational, non-voting, basis and spending time at the Centre familiarising themselves with workings of the organisation, its staff and families.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Structure, Governance and Management (continued)
Arrangements for setting pay and remuneration for key management personnel
The Trustees regularly review the remuneration of senior staff in line with NJC scales and guidelines.
Related parties
Centre 56 Limited joined the Regenda Group in 2017/18. Regenda has the right to appoint members to the board of the company and thereby exercises control over them.
Objectives and Activities
The Centre's objectives are to assist families who are in necessitous circumstances, in particular those families who have suffered from abuse or maltreatment in their homes and/or communities.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the charity commission relating to public benefit. The Charity‘s objectives are as follows: To
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Gather information into the causes and ways of preventing or relieving the suffering caused by grave or persistent maltreatment and publish the facts found by such means as may be proper in order to educate the public.This has been achieved by strengthening partnerships with Local authorities, other providers, sharing best practice and continuous development of staff. Up to date information is also shared on our website and social channels.
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Seek the widest possible publicity for the problems of maltreated families. This was achieved via activities we undertaken to raise public awareness of Domestic Abuse, including our ‘Run the Railways campaign, which gained Regional TV/Radio exposure.
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Assist with continuous care and support in close cooperation with Statutory Authorities, Social Agencies, Housing Associations and Professional Services. This was achieved by consistent and regular collaboration with the Local Authority services, housing associations, YMCA’s and local charities. The team often advocate on behalf of the families to access services for themselves and their children.
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Ensure legal and other professional advice is provided when required. This is achieved via ongoing referrals to other statutory agencies and charitable provision.
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Arrange educational and play facilities for the children including remedial help when needed. This was achieved by delivering and/or facilitating various additional activities for children and families (detailed later in this report), funded from reserves, local authority funding and charitable donations. This has also been recognised in the latest Ofsted report Ofsted 23-24 report.
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Assist wherever possible in obtaining the reconciliation of relationships and the restoration of normal family life. This is achieved via our intervention activities and education on healthy relationships. Where it is safe to do so the charity supports children to have positive relationships with both parents and offer whole family trips.
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Provide meeting places to which families and individuals can come for aid and advice. This is achieved via our advocacy support, providing meeting spaces for our families and support agencies (taking a multiagency approach).
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Work within and support the Local Authorities' Domestic Abuse reduction strategy. This is achieved via our ongoing involvement with the development of the Domestic Abuse strategy, and engagement in the implementation of this strategy.
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Delivery of our objectives are measured by the number of children and families we actively support. This year, Centre 56 has provided intensive and ongoing support to 64 adults and 83 children.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Objectives and Activities (continued)
The charity directly employs a fundraiser (as a member of staff) to manage all of our fundraising activity. We do not engage external organisations to do this on our behalf. Individuals, and organisations are able to raise funds for the charity (in their own right, not instructed by C56) and then donate the funds to the charity as an individual (e.g. run a marathon, climb a mountain).
We do utilise a donation platform ‘Enthuse’ to receive and process donations, alongside event collections (which include cash, card payments and checks). We do not conduct door to door campaigns.
Strategies and activities for achieving objectives
Centre 56 operates from its setting within the ward of Kirkdale ward in Liverpool, which remains one of the most deprived areas in the city area. The services provided by Centre 56 include:
Nursery education and childcare providing 8 toddler places for children aged 2yrs (within a staff:child ratio of 1:4); and 16 pre-school places for children aged 3-4yrs (within a minimum staff:child ratio of 1:8). These places are funded through financial support from Liverpool City Council and government allowances relating to additional needs.
Afterschool and holiday club childcare providing up to 16 places for children, aged 4-12yrs (within a minimum staff:child ratio of 1:8). These places are funded through fundraising (donations and grants).
Family support for up to 65 adults and families surviving domestic abuse providing access to food/household items, white goods, training, advice, and family therapy. These activities are funded through fundraising (i.e., donations, grants from trusts and foundations).
The Trustees plan to build services to reflect local priorities based on the following:
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Continue to connect with purpose-built refuge provision in the city to provide the support to help children through the difficult transition from leaving home to establishing a new safe life.
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Connect with the Children Centre's in the city to support single parents and families who have very chaotic lives but need support to enable them to improve their skills - our provision will provide a safe environment for children and families to grow their skills and improve their employment prospects.
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Provide good quality, safe, educational nursery provision and after school provision.
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Involve the children and families in planning trips to experience "what it means to be a child" i.e., going to working farms, days out at the zoo, museum visits and visits to places of interest in the Northwest, for example Liverpool Football Club and the seaside, whilst learning to rebuild their lives.
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Work with Housing Associations and neighbourhood services to support their work around complex families in terms of helping provide guidance on parenting skills and using play as a way of improving the parent's roles, building self-confidence and self- esteem to enable them to deal with difficult and chaotic situations.
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Work with organisations to educate on Domestic Abuse and the effect it can have on the workforce. The Trustees of Centre 56 Ltd are committed to updating policies and procedures in line with the changing needs of the children, parents, and families.
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Invest in resources and people to fundraise directly with local communities and stakeholders; investing in data systems and processes to improve stewardship; and promotional events to improve community fundraising.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
An increasing national and local need for services.
Over the past 18 months the levels of reported incidences of domestic abuse have increased nationally. It was reported in November 2022 by the Office of National Statistics (ONS) that:
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The number of police recorded domestic abuse-related crimes increased by 7.7% compared with the previous year, to 910,980 in the year ending March 2022; this follows increases seen in previous years and may reflect increased reporting by victims.
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The Crown Prosecution Service (CPS) domestic abuse-related charging rate also increased for the first time in four years to 72.7% in the year ending March 2022 but remains below the year ending March 2018 (75.9%).
Closer to home in Liverpool, the city council have updated their strategy to respond to violence against women and girls (VAWG) in January 2023. It highlights similar increases in instances of abuse in the city:
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In 2015/16 almost 1 in 3 (31%) police callouts resulted in a domestic crime being recorded; in 2021/22, this has increased to over 8 in 10 (81%) callouts.
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Between October 2021 and September 2022, Merseyside Police were called out to 14,935 domestic abuse incidents, an average of 1,245 per month.
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Over the last three years incidents, crimes, multi-agency risk assessment conference (MARAC) referrals and repeat referrals have continued to increase, at a time when most other crime types were reducing due to the national lockdowns from the COVID pandemic.
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Where known, over half (57%, 6738 victims) were aged between 20-39 years. Victims within this age range were overrepresented as victims of domestic abuse, compared to a population rate of 35%.
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The cost-of-living crisis, and resultant economic insecurity and stress, is likely to see an increase in domestic abuse incidents. Studies following the 2008 recession found a correlation between household financial strain and reports of domestic violence. Furthermore, financial hardship was found to entrap domestic abuse survivors in an abusive relationship.
Adapting to a changing regulatory, legislative and charity sector.
Alongside this increasing need in services, there have also been several changes to the legislative and regulatory environment with implications for domestic abuse charities, child-care providers, and family support providers.
Recently these have included, ‘The best start for life: A progress report on delivering the vision’ (Department for Health and Social Care, February 2023). Highlighting best practice for the critical phase for children from conception to their second birthday (i.e., 1,001 days) providing a useful framework for strategy planning.
In April 2023, the chancellor also announced through the budget process that the staffing ratio for 2-year-old children would increase from 1:4 to 1:5 to improve nursery access for the public and align with Scotland. Changes are expected from September 2023.
Other changes to the EYFS and Childrens Services regulations and legislation have included:
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Changes to the early years foundation stage (EYFS) framework (2021) and Early years foundation stage (EYFS): regulatory changes (2023) both impact the way in which OFSTED regulated services will be inspected.
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Domestic Abuse Act (2021) 6 aimed at strengthening and formalising the rights of domestic abuse survivors.
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Improvement notice issued to Liverpool City Council (June 2023) following an inspection by OFSTED critical of its children’s services. The notice refers to failings in the “culture; performance; leadership, management and governance; workforce and management oversight; arrangements at the front door/Multi-Agency Safeguarding Hub (MASH), early help; and multi-agency arrangements”.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Centre 56 continues to work strategically and operationally to align itself with the key ambitions within the Liverpool VAWG Strategy and Liverpool City Council when:
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Responding to victims and survivors needs.
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Making the case for sustainable funding (in a sector notorious for short-term funding).
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Helping to change the expectations and outcomes for families surviving domestic abuse.
Our significant activities to meet need.
The services both for nursery and afterschool remain popular, with waiting lists in place for each. The Centre also undertook seasonal and wellbeing activities which included:
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Music therapy workshops to improve mental wellbeing available from April 2023.
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Pumpkin Picking outdoor activity in October 2023.
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Beach and Crocky Trail outdoor learning in August 2023.
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Coffee mornings delivered from April 2023.
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Citizens UK engagement to promote community empowerment from April 2023.
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Summer activities for learning and fun with sports, yoga, and games in July 2023.
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Dance sessions from April 2023.
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50th anniversary family funday in July 2023.
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Graduation ceremony for the 4-year-old children moving into Primary School in August 2023.
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Christmas hampers, presents, and a supermarket voucher delivered to every family receiving support in December 2023.
The nursery was last inspected by Ofsted in April 2023, receiving a ‘Good’ rating, and improvement plans have been completed relating to minor recommendations.
Management continues to contribute to the strategic direction of services relating to domestic abuse as active members of Liverpool Domestic Abuse Providers Group.
To work effectively the Centre is in close contact with several organisations, which they would like to thank, including:
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Liverpool City Council
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Merseyside Play Action Council
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Eric Wright Charitable Trust
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John Lewis Partnership
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Cash for Kids
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Steve Morgan Foundation
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Azure Collection
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Merseyrail
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Asda
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Rise Construction Framework
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The Reader, Calderstones Park
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Amazon, Kirby
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Merseyside Junior Law Division
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BBC Radio Merseyside
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The Regenda Group
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Regenda Homes
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M&Y Construction and Maintenance
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The Learning Foundry
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Redwing Living
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Ecogee
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Fundraising at Centre 56.
Following the appointment of a new Fundraising Officer, fundraising activity has grown significantly in 2023/24. This culminated in the Running the Railways event in February 2024 which received coverage on ITV Granada News and multiple other local news outlets. A number of new partnerships have grown out of this event and a strong delivery plan for 24/25 has been developed to build on the momentum of 23/24, which includes a series of regular fundraising activities and growth of corporate funding partnerships.
Financial review
The charity has received commitment for the financial year 24/25, for intra-group financial support, to enable the delivery of the business plan. The charity has also undergone a full review of the business model for 25/26 to ensure reduced reliance in intra-group support.
There are targets set for external fundraising, supported by a strong delivery plan. The charity is not aware of any significant events that will affect the financial position for the period 24/25.
The Centre income totalled £551,422 (2023 - £150,913) for the year. Of this, £102,858 (2023 - £100,275) was received from Liverpool City Council. Income also included £348,484 (2023 - £959) gift aid receipt from members of the Regenda group (2023 - £Nil).
Expenditure totalled £541,054 (2023 - £466,559) which resulted in an overall income for the year of £10,368 (2023 - deficit of £315,646).
At 31 March 2024, the Charity had restricted funds of £27,677 (2023 - £18,024), unrestricted funds of £402,607 (2023 - £401,892) and designated funds of £189,672 (2023 - £217,563).
Going concern
The Company's latest Business Plan including sensitivity analysis and stress testing was approved May 2024.
After a thorough review considering the impact of inflation and the challenging economic environment on all assets, liabilities and commitments, management has identified that the main risk comes from a reduction in fundraising activity.
The management team monitor this risk through the production of monthly management accounts and updates on subsidiary performance are also provided to the parent Board at each Board meeting.
To mitigate this risk, Trustees have designated existing reserves to develop a growth strategy over the next 18 months which looks at increasing corporate donations and legacy giving.
In terms of working capital support, the business has an agreement in place with Ecogee which will ensure funding for the next 12 months from the date of approval of these financial statements.
Based on the above, the Board has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months after the date on which the report and financial statements are signed.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Reserves Policy
The Trustees have considered the quantum of reserves which they consider should be held by the charitable company and agreed the following:
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The Trustees seek to maintain the general unrestricted reserve of the charitable company at a level enough to cover three months' worth of running expenditure.
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The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
Investment Policy
The Trustees regularly review where the charity's funds are invested and new accounts including fixed term deposits are opened periodically in order to ensure a competitive return is received. Investments held in the year are in line with the Regenda Group’s Investment Policy, which considers the Charity Commission’s publication ‘Charities and Investment Matters – a Guide for Trustees’.
Principal risks and uncertainties
C56 has adopted the Regenda Group risk management framework. This includes the role and responsibilities of those involved in risk management and how risks are identified, assessed and managed. The principal risks for the charity are managed in line with the framework and include:
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Failure to fundraise – mitigated for 24/25 by commitment to financial support from within the group (Ecogee), the direct employment of a fundraiser and a strong delivery plan with Key Performance indicators that are regularly monitored by management team and trustees;
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Failure to collect core income – mitigated via robust contracting, policy framework and regular monitoring of KPI’s by management team and trustees;
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Failure to comply with Ofsted regulatory requirements – mitigated via staff training and self assessment reports to management team and trustees;
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Failure to actively manage safeguarding at C56 – mitigated via the adoption of the Group safeguarding policies and practices (including the regular staff training and utilisation of the group ‘SHE’ reporting/monitoring system) and peer review. KPI’s are reported to management team, trustees and Group Risk and Audit committee.
Future Developments
Centre 56 will continue to provide services for the beneficiaries previously outlined, however there are emerging areas of development that will be actively sought over the coming years. This includes seeking out partnership with companies within the Regenda Group in order to maximise the potential strength of the offer to vulnerable families through Centre 56.
This is in addition to working more closely with colleagues in Liverpool City Council, to continually support and engage in the successful delivery of the authorities domestic abuse and children's strategies.
Statement as to Disclosure of Information to Auditor
So far as the directors are aware, there is no relevant audit information of which the company's auditors are unaware and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited (A Company Limited by Guarantee)
Trustees' Report (continued) For the Year Ended 31 March 2024
Auditor
BDO LLP will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Approved by order of the members of the board of Trustees on 18 September 2024 and signed on their behalf by:
Signer ID: WYRW7UUTKM...
J Wood Chair
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Statement of Trustees' Responsibilities For the Year Ended 31 March 2024
The Trustees (who are also the directors of the Charity 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 in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Independent Auditor's Report to the Members of Centre 56 Limited
Opinion on the financial statements
In our opinion, the financial statements:
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give a true and fair view of the state of the Charitable Company’s affairs as at 31 March 2024 and of incoming resources and application of resources for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
We have audited the financial statements of Centre 56 Limited (“the Charitable Company”) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
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 believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Independence
We remain independent of the Charitable Company in accordance with the ethical requirements 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.
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.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Independent Auditor's Report to the Members of Centre 56 Limited (continued)
Other information
The Trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is 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.
Other Companies Act 2006 reporting
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Trustees’ Report, which includes the Directors’ Report prepared for the purposes of Company Law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the Directors’ Report, which are included in the Trustees’ Report, has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion;
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of Directors’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Independent Auditor's Report to the Members of Centre 56 Limited (continued)
Responsibilities of Trustees
As explained more fully in the statement of Trustees’ responsibilities, the Trustees (who are also the directors of the charitable company for the purposes 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 the Companies Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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.
Extent to which the audit was capable of detecting irregularities, including fraud
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:
Non-compliance with laws and regulations
Based on:
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Our understanding of the Charitable Company and the sector in which it operates;
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Discussion with management and those charged with governance; and
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Obtaining and understanding of the Charitable Company’s policies and procedures regarding compliance with laws and regulations.
We considered the significant laws and regulations to be FRS 102 and UK Law & Tax Legislation.
The Charitable Company is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be the health and safety legislation.
Our procedures in respect of the above included:
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Review of minutes of meeting of those charged with governance for any instances of non-compliance with laws and regulations;
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Review of financial statement disclosures and agreeing to supporting documentation; and
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Review of legal expenditure accounts to understand the nature of expenditure incurred.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Independent Auditor's Report to the Members of Centre 56 Limited (continued)
Auditor’s responsibilities for the audit of the financial statements (continued)
Fraud
We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:
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Enquiry with management and those charged with governance regarding any known or suspected instances of fraud;
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Obtaining an understanding of the Charitable Company’s policies and procedures relating to:
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Detecting and responding to the risks of fraud; and
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Internal controls established to mitigate risks related to fraud.
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Review of minutes of meeting of those charged with governance for any known or suspected instances of fraud;
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Discussion amongst the engagement team as to how and where fraud might occur in the financial statements; and
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Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
Based on our risk assessment, we considered the areas most susceptible to fraud to be management override of controls and timing of the recognition of income items.
-
Our procedures in respect of the above included:
-
Testing a sample of journal entries throughout the year, which met a defined risk criteria, by agreeing to supporting documentation;
-
Assessing significant estimates made by management for bias; and
-
Selecting a sample of income around the year end and assessing whether the income has been recognised in the correct period.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s (“FRC’s”) website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Page 14
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
(A Company Limited by Guarantee)
Centre 56 Limited
Independent Auditor's Report to the Members of Centre 56 Limited (continued)
Use of our report
This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company’s members those matters we are required to state to them in an auditor’s 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 the Charitable Company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Hamid Ghafoor 829727ECC12041D... (Senior Statutory Auditor) For and on behalf of BDO LLP, Statutory Auditor Liverpool, UK
Date:18 September 2024
BDO LLP is a limited liability partnership registered in England and Wales (with registered number OC305127).
Page 15
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2024
| Note Income from: Grants and donations 4 Charitable activities 5 Investments 6 Total income Expenditure on: Charitable activities Total expenditure Net (expenditure)/income Transfers between funds 14 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 389,361 5,928 9,778 405,067 406,530 406,530 (1,463) 2,178 715 401,892 715 402,607 |
Restricted funds 2024 £ - 146,356 - 146,356 134,524 134,524 11,832 (2,178) 9,654 18,024 9,654 27,678 |
Total funds 2024 £ 389,361 152,284 9,778 551,423 541,054 541,054 10,369 - 10,369 419,916 10,369 430,285 |
Total funds 2023 £ 23,334 123,746 3,833 150,913 466,559 466,559 (315,646) - (315,646) 735,562 (315,646) 419,916 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 18 to 32 form part of these financial statements.
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Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee) Registered number: 01307825
Balance Sheet As at 31 March 2024
| 2024 | 2024 | 2023 | |||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 11 | 52,450 | 26,074 | ||
| 52,450 | 26,074 | ||||
| Current assets | |||||
| Debtors | 12 | 12,358 | 9,248 | ||
| Cash at bank and in hand | 480,923 | 441,079 | |||
| 493,281 | 450,327 | ||||
| Current liabilities | |||||
| Creditors: amounts falling due within one | |||||
| year | 13 | (115,446) | (56,485) | ||
| Net current assets | 377,835 | 393,842 | |||
| Total assets less current liabilities | 430,285 | 419,916 | |||
| Total net assets | 15 | 430,285 | 419,916 | ||
| Charity funds | |||||
| Restricted funds | 14 | 27,678 | 18,024 | ||
| Unrestricted funds | 14 | 402,607 | 401,892 | ||
| Total funds | 430,285 | 419,916 |
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements were approved and authorised for issue by the Trustees on 18 September 2024 and signed on their behalf by:
Signer ID: WYRW7UUTKM... J Wood Chair
The notes on pages 18 to 32 form part of these financial statements.
Page 17
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
1. General information
Centre 56 is a private company, limited by guarantee, incorporated in England and Wales under the Companies Act 2006 and Charities Act 2011. The address of the registered office is provided in the Reference and Administrative Details page and details of the Charity's operations are provided in the Trustees Report.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act 2011.
Centre 56 Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in GBP and rounded to the nearest £.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
2.2 Financial Reporting Standard 102 - reduced disclosure exemptions
The Charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
-
The requirements of Section 7 Statement of Cash Flows;
-
The requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11,41(c), 11.41(e), 11.41(f), 11.42, 11.44 to 11.45, 1 1.47, 11.48(a)(iii), 11.48(a)(iv), 11 .48(b) and 11.48(c); and
-
The requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Regenda Limited as at 31 March 2024 and these financial statements may be obtained from its registered office: The Foundry, 42 Henry Street, Liverpool, L1 5AY.
Page 18
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
2. Accounting policies (continued)
2.3 Going concern
The Company's latest Business Plan including sensitivity analysis and stress testing was approved May 2024.
After a thorough review considering the impact of inflation and the challenging economic environment on all assets, liabilities and commitments, management has identified that the main risk comes from a reduction in fundraising activity.
The management team monitor this risk through the production of monthly management accounts and updates on subsidiary performance are also provided to the parent Board at each Board meeting.
To mitigate this risk, Trustees have designated existing reserves to develop a growth strategy over the next 18 months which looks at increasing corporate donations and legacy giving.
In terms of working capital support, the business has an agreement in place with Ecogee which will ensure funding for the next 12 months from the date of approval of these financial statements.
Based on the above, the Board has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, being a period of at least twelve months after the date on which the report and financial statements are signed.
2.4 Income
All income is accounted for on a receivable basis. Any grants whose use is restricted by the grant or to some future accounting period are accounted for as deferred income until the restriction has been satisfied.
Income from investments represents interest from bank deposits. Interest on funds held on deposit is recognised when receivable and the amount can be measured reliably by the Charity, this is normally upon notification of the interest paid or payable by the bank.
Any voluntary income received by way of donations and gifts is included in full in the Statement of Financial Activities when receivable. The value of services provided by volunteers is not included.
2.5 Expenditure
All expenditure is included in the accounts on the accruals basis and includes attributable irrecoverable VAT.
Support costs have been allocated as incurred against the provision of nursery care which is the charities primary activity.
Governance costs are those costs that relate to the general running and strategic management of the charity as opposed to those associated with the day to day management and charitable activities.
2.6 Taxation
As a registered charity the Charity is generally exempt from Corporation Tax and Capital Gains Tax on its charitable activities, but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Page 19
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
(A Company Limited by Guarantee)
Centre 56 Limited
Notes to the Financial Statements For the Year Ended 31 March 2024
2. Accounting policies (continued)
2.7 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
Fixtures, fittings & equipment - 25%
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.10 Creditors
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
2.11 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.12 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 Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Page 20
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited (A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
2. Accounting policies (continued)
2.13 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
2.14 Fund accounting
Unrestricted funds can be spent freely in support of the charity’s purpose.
Designated funds are part of the unrestricted funds which trustee have earmarked for a project or use, without restricting or committing the funds legally.
Restricted funds fall outside the definition of reserves, these may be funds that are restricted by the donor for use on a project or purpose.
Investment income, gains and losses are allocated to the appropriate fund.
3. Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgement:
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually.
Page 21
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
4. Income from donations and legacies
| Unrestricted funds 2024 £ Donations and gifts 40,277 Gift Aid from members of the Regenda group 348,484 Other 600 Total 389,361 Donations income in the current and prior year was unrestricted. |
Total funds 2024 £ 40,277 348,484 600 389,361 |
Total funds 2023 £ 22,375 959 - 23,334 |
|---|---|---|
5. Income from charitable activities
| Unrestricted funds 2024 £ Liverpool City Council - Fundraising 5,928 HAF Funding - DASSA (LCC) - Small Grant (Cash For Kids) - Total 2024 5,928 |
Restricted funds 2024 £ 102,858 - 23,481 16,667 3,350 146,356 |
Total funds 2024 £ 102,858 5,928 23,481 16,667 3,350 152,284 |
|---|---|---|
Total income from charitable activities was £152,284 (2023 - £123,746) of which £5,928 (2023 - £Nil) was unrestricted and £146,356 (2023 - £123,746) was restricted.
Page 22
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
5. Income from charitable activities (continued)
| Big Lottery Fund Bauer Radio S C Rathbone Steve Morgan Foundation 360 Rise Total 2023 |
Restricted funds 2023 £ 100,275 12,451 5,000 5,000 1,020 123,746 |
Total funds 2023 £ 100,275 12,451 5,000 5,000 1,020 123,746 |
|---|---|---|
6. Investment income
| Unrestricted funds 2024 £ Bank interest 9,778 Investment income in the current and prior year was unrestricted. |
Total funds 2024 £ 9,778 |
Total funds 2023 £ 3,833 |
|---|---|---|
7. Analysis of expenditure by activities
| Activities | |||
|---|---|---|---|
| undertaken | Support | Total | |
| directly | costs | funds | |
| 2024 | 2024 | 2024 | |
| £ | £ | £ | |
| Expenditure on charitable activities | 324,319 | 216,735 | 541,054 |
Page 23
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
7. Analysis of expenditure by activities (continued)
| Activities | |||
|---|---|---|---|
| undertaken | Support | Total | |
| directly | costs | funds | |
| 2023 | 2023 | 2023 | |
| £ | £ | £ | |
| Expenditure on charitable activities | 248,624 | 217,935 | 466,559 |
Total expenditure on charitable activities for the year was £541,054 (2023 - £466,559) of which £406,530 was unrestricted (2023 - £331,947) and £134,524 was restricted (2023 - £134,612).
Analysis of direct costs
| Staff costs Depreciation Agency staff and recruitment Nursery fees and outings Premises Other costs |
Total funds 2024 £ 211,302 7,198 24,855 55,199 24,816 949 324,319 |
Total funds 2023 £ 173,300 6,026 3,589 42,666 23,043 - 248,624 |
|---|---|---|
Analysis of support costs
| Staff costs Premises Facilities management Other costs |
Total funds 2024 £ 62,625 7,583 9,737 136,790 216,735 |
Total funds 2023 £ 65,721 9,672 7,975 134,567 217,935 |
|---|---|---|
Page 24
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
7. Analysis of expenditure by activities (continued)
Analysis of support costs (continued)
Support costs have been allocated as incurred against the provision of nursery care which is the charities primary activity.
Governance costs are centralised across the Group.
Regenda Limited charges the charity for a range of services including Governance as part of the recharge for Corporate Services.This is included in expenditure on charitable activities.
8. Auditor's remuneration
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's auditor for the audit of the Charity's annual | ||
| accounts | 8,566 | 3,870 |
| Fees payable to the Charity's auditor in respect of: | ||
| All non-audit services not included above | 1,850 | 1,650 |
9. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2024 £ 248,298 15,923 9,706 273,927 |
2023 £ 217,562 14,820 6,639 |
|---|---|---|
| 239,021 |
The average number of persons employed by the Charity during the year was as follows:
| Nursery staff Management and administration |
2024 No. 11 3 14 |
2023 No. 12 1 |
|---|---|---|
| 13 |
Page 25
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
9. Staff costs (continued)
No employee received remuneration amounting to more than £60,000 per annum (2023 - £Nil).
Key management personnel of the charity comprise the trustees, Nursery and Deputy Nursery Managers and Fundraising Manager. The total employee benefits of the key management personnel were £95,344 (2023 - £80,859).
10. Trustees' remuneration and expenses
Neither the trustees nor any persons connected with them have received any remuneration, either in the current year or the prior year. No trustees received expenses in the year (2023 - £Nil).
11. Tangible fixed assets
| Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Fixtures, fittings & equipment £ 63,820 33,574 |
|---|---|
| 97,394 | |
| 37,746 7,198 |
|
| 44,944 | |
| 52,450 | |
| 26,074 |
Page 26
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
12. Debtors
| Due within one year Trade debtors Other debtors Prepayments |
2024 £ 200 4,017 8,141 12,358 |
2023 £ - 2,057 7,191 |
|---|---|---|
| 9,248 |
Amounts owed by group undertakings are interest free and repayable on demand.
13. Creditors: Amounts falling due within one year
| Trade creditors Amounts owed to group undertakings Other creditors Accruals and deferred income |
2024 £ 6,874 25,927 1,756 80,889 115,446 |
2023 £ 10,548 20,833 1,126 23,978 |
|---|---|---|
| 56,485 |
Amounts owed to group undertakings are interest free and repayable on demand.
| Deferred income at 1 April Resources deferred during the year Deferred income at 31 March |
2024 £ 6,982 29,580 36,562 |
2023 £ - 6,982 |
|---|---|---|
| 6,982 |
DASSA grant deferred (£33k) in line with the delivery terms set out in the contract running from 1st December 2023.
HAF deferred (£3k) as the funds were received in March in order to fund Easter trips that took place in April.
Page 27
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
14. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Growth fund General funds Unrestricted - general Total Unrestricted funds Restricted funds Liverpool City Council Liverpool DASSA HAF Cash for Kids Steve Morgan Foundation Screwfix Foundation Medicash Total Restricted funds Total of funds |
Balance at 1 April 2023 £ 217,563 184,329 401,892 - - - - 8,024 5,000 5,000 18,024 419,916 |
Income £ - 405,067 405,067 102,858 16,667 23,481 3,350 - - - 146,356 551,423 |
Expenditure £ (27,891) (378,639) (406,530) (102,858) (3,673) (15,451) (3,350) (4,192) (5,000) - (134,524) (541,054) |
Transfers in/out £ - 2,178 2,178 - (1,793) (385) - - - - (2,178) - |
Balance at 31 March 2024 £ 189,672 |
|---|---|---|---|---|---|
| 212,935 | |||||
| 402,607 | |||||
| - 11,201 7,645 - 3,832 - 5,000 27,678 |
|||||
| 430,285 |
Page 28
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
14. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Growth fund General funds Unrestricted - general Total Unrestricted funds Restricted funds Liverpool City Council Masonic Rathbone Steve Morgan Foundation Medicash Bauer Radio S C LIV Char VHOF Screwfix Foundation Liverpool Citysafe 360 Rise Total of funds |
Balance at 1 April 2022 £ 253,728 452,944 706,672 - 3,750 - 7,449 5,000 1,043 1,049 5,000 5,599 - 28,890 735,562 |
Income £ - 27,167 27,167 100,275 - 5,000 5,000 - - 12,451 - - 1,020 123,746 150,913 |
Expenditure £ (36,165) (295,782) (331,947) (100,275) (3,750) (5,000) (4,425) - (1,043) (13,500) - (5,599) (1,020) (134,612) (466,559) |
Balance at 31 March 2023 £ 217,563 |
|---|---|---|---|---|
| 184,329 | ||||
| 401,892 | ||||
| - - - 8,024 5,000 - - 5,000 - - 18,024 |
||||
| 419,916 |
Page 29
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
14. Statement of funds (continued)
Unrestricted general funds
Funds which are available for use or retention at the discretion of the directors, in accordance with the trust’s objects.
Unrestricted designated funds
A reserve designated to support the growth of the charity through the development of a fundraising strategy.
Restricted funds
Liverpool City Council - early years funding depending on age and circumstances of children.
Masonic – funding specifically for away days and providing fun activities for families.
Rathbone - funding for school holiday activities.
Steve Morgan Foundation - emergency fund so that services could continue during the pandemic.
Medicash - emergency fund received so that services could continue during the pandemic.
Bauer Radio S C - to provide food suppot during lockdown.
LIV Char VHOF - the funding enables us to provide a holiday club that provides structured and creative activities such as outdoor play, arts and crafts, music and games, sports and science activities and many more. The aim of the club is to support children to take part in a range of physical activities daily to support their understanding of the importance of and duration of physical activity that is required each day and the negative impact of sedentary behaviour on children in their age group. Its purpose is also to ensure that all children who receive free school meals still receive a healthy meal/breakfast/snack each day. All children taking part receive a healthy range of meals, snacks and drinks daily. We also plan at least one trip/outing. This enables socially isolated children to enjoy and experience things that other children do which supports their cultural capital.
Screwfix Foundation - support projects that will fix, repair, maintain and improve properties and community facilities specifically for those in need within the UK.
Liverpool Citysafe - funding the parental activities such as coffee mornings, drop in sessions, health and wellbeing sessions and family events/trips that will help to develop friendships and strengthen parental relationships, reduce the amount of time parents may have to stay in a conflict situation (at home), provide a means of therapy through relaxation, yoga, pampering sessions. Also developing communication skills, access to services and even careers support.
Page 30
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
14. Statement of funds (continued)
360 Rise - community investment grant support, provide Christmas food parcels, for 34 families that Centre 56 supports.
Liverpool DASSA - a grant from Liverpool City Council. We are providing childcare for women in refuges and some therapy. It runs until autumn 2024.
HAF - Holiday Activities & Food. It's a grant to provide school holiday clubs and healthy meals for children who normally get free school meals.
Cash for Kids - was a one off grant to provide supermarket vouchers to families who were struggling with the cost of living.
15. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2024 £ Tangible fixed assets 52,450 Current assets 465,603 Creditors due within one year (115,446) Total 402,607 |
Restricted funds 2024 £ - 27,678 - 27,678 |
Total funds 2024 £ 52,450 493,281 (115,446) 430,285 |
|---|---|---|
Analysis of net assets between funds - prior period
| Unrestricted funds 2023 £ Tangible fixed assets 26,074 Current assets 432,303 Creditors due within one year (56,485) Total 401,892 |
Restricted funds 2023 £ - 18,024 - 18,024 |
Total funds 2023 £ 26,074 450,327 (56,485) 419,916 |
|---|---|---|
Page 31
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614
Centre 56 Limited
(A Company Limited by Guarantee)
Notes to the Financial Statements For the Year Ended 31 March 2024
16. Related party transactions
Redwing Living Limited, a company under common control, incurred costs of £293 (2023 - £293) from Centre 56. The creditor at year end was £Nil (2023 - £Nil).
M&Y (Regenda Partnership) Limited, a company under common control, charged income of £87 (2023 - £1,445) to Centre 56. The creditor at year end was £876 (2023 - £962).
Regenda Limited, the parent company, incurred costs of £5,473 (2022 - £92,078) from Centre 56. The creditor at year end was £25,051 (2023 - £19,577).
Petrus Community, a company under common control, incurred costs of £Nil (2023 - £124) from Centre 56. The debtor at year end was £Nil (2023 - £Nil).
The Learning Foundry Limited, a company under common control, incurred costs of £Nil (2023 - £125) from Centre 56. The debtor at year end was £Nil (2023 - £Nil).
17. Controlling party
The Charity's immediate and ultimate parent company is Regenda Limited, a company incorporated in England and Wales with the registered office of The Foundry, 42 Henry Street, Liverpool, L1 5AY.
As at 31 March 2024, the largest and smallest group in which the results are consolidated is that headed by Regenda Limited. The consolidated accounts of the company are available to the public and may be obtained from its registered office: The Foundry, 42 Henry Street, Liverpool, L1 5AY. No other group accounts include the results of the Charity.
Page 32
Document ID: 34eb677d59293f5f2d2a5b3c762af6158f902ed09df00f8f7cdcb315fb486614