| Page | ||
|---|---|---|
| Chair's Report | ||
| Trustees' Annual Report |
||
| Statements of Trustees' |
Responsibilities | |
| Independent Examiner's |
Report | |
| Statement of Financial |
Activities | |
| Balance Sheet | 10 | |
| Notes to the Financial Statements |
| Name | Priority Management | Priority Management | Limited | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Company | number | 01967563 | ||||||||||||
| Charity | number | 702851 | ||||||||||||
| Registered | Office | Riverside | Learning | 8 | Education | Centre, | ||||||||
| Hyslop Street, | ||||||||||||||
| Liverpool, | ||||||||||||||
| England, | ||||||||||||||
| L8 5UA | ||||||||||||||
| Board | ofTrustees | The Board | ofTrustees | are also | its directors. | Members | are elected | |||||||
| by Annual | General | Meetings | of the | members | of the | council | in | |||||||
| accordance with the |
Articles of | Association. | ||||||||||||
| Trustees | J Hughes | |||||||||||||
| M Taxman | ||||||||||||||
| N P Turner | ||||||||||||||
| Company | Secretary | L Bennett | ||||||||||||
| Independent | Examiner | Paula Sanchez ACCA | ||||||||||||
| c/o LCVS, | ||||||||||||||
| 151 Dale Street, | ||||||||||||||
| Liverpool, | ||||||||||||||
| L2 2AH | ||||||||||||||
| Bankers | HSBC City | Branch, | ||||||||||||
| 99-101 Lord Street, | ||||||||||||||
| Liverpool | ||||||||||||||
| L2 6PG | ||||||||||||||
| Signe | beh | Ifofthe | Board ofTrustees | |||||||||||
| es, | Trustee | Date |
| Notes | Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |||
| 2022 | 2022 | 2022 | 2021 | |||
| Income and endowments | ||||||
| from: | ||||||
| Donations and legacies |
3a | 70 | 70 | 30 | ||
| Charitable activities |
3b | 62,028 | 24,053 | 86,081 | 98,082 | |
| Other trading activities |
3c | 4,175 | 4,175 | 3,130 | ||
| Investments | 3d | 4 | 4 | 3 | ||
| Total income | 66,277 | 24,053 | 90,330 | 101,245 | ||
| Expenditure on: |
||||||
| Charitable activities |
80,420 | 15,931 | 96,35'I | 107,966 | ||
| Total expenditure | 80,420 | 15,931 | 96„351 | 107,966 | ||
| Net (expenditure)/income | (14,143) | 8,122 | (6,021) | (6,721) | ||
| Gain(losses) on investments assets |
31 | |||||
| Net Movement in funds |
(14,112) | 8,122 | (5,990) | (6,648) | ||
| Total funds brought | forward | 10, 11 | 203,768 | 779 | 204,547 | 211,195 |
| Total funds carried | forward | 9-11 | 189,656 | 8,901 | 198,557 | 204,547 |
| Unrestricted | Unrestricted | Restricted | Total | Total | |||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||||
| 2022 | 2022 | 2022 | 2021 | ||||
| b. | Charitable activities: |
K | f | F | |||
| Alternative education Programme |
492 | 492 | 16,869 | ||||
| HMRC Job Retention Scheme | 12,609 | 12,609 | 17,270 | ||||
| Liverpool city council Business Support Grant |
10,000 | ||||||
| National Lottery Awards |
for All | 9,948 | 9,948 | ||||
| Steve Morgan Foundation |
4,393 | ||||||
| Vocational Training |
48,927 | 48,927 | 49,550 | ||||
| Workers Education Association |
14,105 | 14,105 | |||||
| 62,028 | 24,053 | 86,081 | 98,082 | ||||
| Income from charitable | activities | in | 2021 comprised 293,689 | unrestricted | funds and | ||
| restated E4.393 related to restricted | funds | ||||||
| c. | Other trading activities: |
F | |||||
| Rent contribution | 4,175 | 4,175 | 3,130 | ||||
| Other trading activities income for 2021 related |
wholly to unrestricted funds |
||||||
| d. | Investments: | ||||||
| Bank interest | |||||||
| Dividends | |||||||
| 4 |
| Investments | Investments | income for 20 | income for 20 | 21 related wholly to un |
restricted funds |
|||
|---|---|---|---|---|---|---|---|---|
| 4. | Expenditure | on charitable | activities | |||||
| Direct | Support & | Tota I | Total | |||||
| Charitable | Governance | 2022 | 2021 | |||||
| Expenditure | Costs | |||||||
| E | E | F | ||||||
| Provision training |
of | education | and | 86,236 | 10,115 | 96„351107,966 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Direct Charitable | Expenditure: | ||||
| Staff salary costs | 56,977 | 53,835 | |||
| Pension | 1,110 | 1,400 | |||
| Freelance tutors | 7,500 | 12,500 | |||
| Other staff costs | 268 | 268 | |||
| Volunteer expenses | 66 | ||||
| Running costs |
6,616 | 10,778 | |||
| Covid 19emergency | food | 4,348 | |||
| Course fees | 4,899 | 3,330 | |||
| Travel expenses | 890 | ||||
| Depreciation | 8,800 | 8,800 | |||
| 86,236 | 96,149 | ||||
| 2022 | 2021 | ||||
| Support 8 Governance | Costs: | ||||
| Staff salary costs | 1,410 | 1,746 | |||
| Office Costs | 2,177 | 1,660 | |||
| Bank charges | 132 | 166 | |||
| Companies House |
filing | fee | 13 | ||
| Marketing | 504 | 662 | |||
| Subscriptions and |
memberships | 595 | 1,815 | ||
| Insurance | 3,660 | 3,851 | |||
| DBSfees | 155 | 129 | |||
| HMRC interest | 10 | 200 | |||
| Payroll fees | 232 | 390 | |||
| Accountancy | 910 | 725 | |||
| Depreciation | 317 | 473 | |||
| 10,115 | 11,817 | ||||
| Total charitable activities |
96,351 | 107,966 |
| f15,931 (2021:E4,776) of the a | bove expenditure relat |
es to restric | |
|---|---|---|---|
| b. | Staff Costs | 2022 | 2021 |
| F | |||
| Staff salaries | 58,387 | 55,581 | |
| Social security costs | |||
| Pension | 'I,1'I0 | 1,400 | |
| 59,497 | 56,981 |
| No out-of-pocket expenses were rei Tangible fixed assets |
mbursed to trus |
tees during the |
year (2021 |
|---|---|---|---|
| Freehold | Fixtures, | Total | |
| property | Fittings & |
||
| Equipment | |||
| Cost or revaluation As at 1"April 2021 |
250,000 | E 63,678 |
313,678 |
| Balance as at31"March 2022 | 250,000 | 63,678 | 313,678 |
| Accumulated Depreciation As at 1"April 2021 |
61,601 | 62,716 | 124,317 |
| Charge for the year | 8,800 | 317 | 9,117 |
| Balance as at31"March 2022 | 70,401 | 63,033 | 133,434 |
| Net Book Value at31"March 2022 |
179,599 | 645 | 180,244 |
| Net Book Value at31"March 2021 |
188,399 | 962 | 189,361 |
| Fixed asset investments | |||
|---|---|---|---|
| 2022 | 2021 | ||
| Market Value at beginning year |
of | 295 | 222 |
| Unrealised gain during year |
31 | 73 | |
| Market value at end ofyear | 326 | 295 | |
| Cost at end ofyear |
| 7. Debtors | ||||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| F | ||||||
| Debtors | 2,105 | |||||
| Prepayment | 1,159 | 1,004 | ||||
| 3,264 | 1,004 | |||||
| 8.Creditors: | amounts | falling | due | within | one year |
| Creditors: amounts falling due |
within one year | |
|---|---|---|
| 2022 | 2021 | |
| F | ||
| Accruals | 910 | 725 |
| Creditors | 1,687 | |
| Other creditors | 98 | |
| Tax and Social security | 563 | 379 |
| 1,571 | 2,791 |
| Analysis o |
f net assets | betwe | en funds |
en funds |
||||
|---|---|---|---|---|---|---|---|---|
| 2022 | Tangible | Investments | Net current | Total | ||||
| fixed assets | assets | |||||||
| Unrestricted | Funds | E | ||||||
| General Fund |
166,906 | 326 | (29,673) | 137,559 | ||||
| Designated | Fund | 39,281 | 39,281 | |||||
| Revaluation | Reserve | 12,816 | 12,816 | |||||
| 179,722 | 326 | 9,608 | 189,656 | |||||
| Restricted | Funds | |||||||
| Big Lottery | Fund Grant | 522 | 522 | |||||
| National Lottery Awards All |
for | 8,379 | 8,379 | |||||
| 522 | 8,379 | 8,901 | ||||||
| Totals | 180,244 | 326 | 17,987 | 198,557 | ||||
| 2021 | Tangible | Investments | Net current | Total | ||||
| fixed | assets | assets | ||||||
| Unrestricted | Funds | f. | E | E | ||||
| General Fund |
175,013 | 295 | (16,093) | 159,215 | ||||
| Designated | Fund | 30,984 | 30,984 | |||||
| Revaluation | Reserve | 13,569 | 13,569 | |||||
| 188„582 | 295 | 14,891 | 203,768 | |||||
| Restricted | Funds | |||||||
| Big Lottery Fund Grant | 779 | 779 | ||||||
| Totals | 189,361 | 295 | 14,891 | 204,547 |
| Movement | in the | ear | ||||||
|---|---|---|---|---|---|---|---|---|
| 2022 | at | Funds Beginning ofyear F |
Income | Expenditure | Investment Gains |
Transfer Between Funds E |
Funds at End ofyear |
|
| General Fund |
159,215 | 66,277 | (79,667) | 31 | (8,297) | 137,559 | ||
| Designated Fund |
30,984 | 8,297 | 39,281 | |||||
| Revaluation Reserve |
13,569 | (753) | (-) | 12,816 | ||||
| 203,768 | 66,277 | (80,420) | 31 | 189,656 | ||||
| Movement | in the | ear | ||||||
| 2021 | at | Funds Beginning |
Income | Expenditure | Investment Gains |
Transfer Between |
Funds at End |
|
| ofyear | Funds | ofyear | ||||||
| F | ||||||||
| General Fund |
158,592 | 96,852 | (102,436) | 73 | 6,134 | 159,215 | ||
| Designated Fund |
37,118 | (6,134) | 30,984 | |||||
| Revaluation Reserve |
14,323 | (754) | (-) | 13,569 | ||||
| 210,033 | 96,852 | (103,190) | 73 | 203,768 |