Charity number: XR82572 & NICIU0738 Company number: N1060209 Liberty Consortium (A company limited by guarantee) Trustees, report and financial statements for the year ended 31 October 2022
Liberty Consortium (A company limited by guarantee) Contents Page t£gal and administrative information Tru5tees' report Auditors. report to the truslees 9-11 Statement of financial activities 12 Balance sheet 13 Cash flow staiement 14 Notes to the financial SleMentS 15-24
Liberty Consortium (A company limited by guarantee) Legal and administrative information Charity numbers XR82572 & NIC100738 Company registration number N1060209 Business address 15 Racecourse Road Dcrry B T48 7RE Registered onCe The Playtrail 15 Racecourse Road Derry BT48 7RE Trustees Michael Dobbins Thomas Mccully Darren Kirby CaroliTJe Campbell Edyih Dunlop Ellis Gill John Peto Daen O'Neill clai Lynch Aine Harnett Resigned 1711112020 Resigned 1310912021 Ch4iirperson Appointed 1310112020 Resigned 1610712020 Resigned 2710112021 Appoinled 2110312023 Secretary Caroline Campbell Ex-officio Member Helen Turton DC & SD Council representative Key managememt personnel Director Transition manager Finance manager Inclusion manager Auditors Mark Roberts Anne Marie Donnelly Christine Maxwell Gavin Melly Shaun M¢Ginty & Co Chartered Accountants 44 Woodbrook Derry BT48 8FF Bankers AIB Meadowbank Strand Road Derry B T48 7TN Solicitors Clyde & Co (Nl) LLP Solicitors 6 Ca.%tle Street Derry BT48 6HQ Page I
Liberty Consortium (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 October 2022 The trustees Present their report and the fjnancial 5talemenls for the year ended 31 October 2022. The financial statements are prepared in accordance with the Companies Act ?006, the Charilies Act (NT) 2008. FRS 102 "The Financial Reporcing Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charitie5: Statement of Recommended Practice applfftcable to charilie5 preparing their financial .statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS I O?). The Trustees Rcporl contains the infotmation required to be provided in the Trustees Annual Report under the Sialement of Recommended PTaciiLe {SORP) guidelines. The directors of the company are also charity truslees for the purpose of charity law and under the company's constitution are knowm as membeTS of the board of trustees. In this report the tTUStees PTesenl a summary of its purpose, governance, activities. achievemenls and fiDances for the rinancial year ended 31 October 2022. Directors and trustees The trustees, who are also directors of Liberty Consortium for th¢ purposes of company law and who served during the year and up to the date of this report are set oui below. Trustees Resigned 1711112020 Resigned 1310912021 Chalrperson Michael Dobbins Thomas Mccully Kirby Caroline Campbell Edyth Dunlop Ellis Gill John Peto Darren O'Neill Claire Lynch Aine Harnett Appointed 1310112020 Resigned 16107120?0 Resigned 271011?021 Appoinred 211031?023 Secretary C¢>1]ne Campbell Ex- Officio Member Helen Turton Reference and administrative details DC & SD Council representative Charitv number Company registration number Registered office XR82572 & NIC100738 N1060209 The Playlrail, Derry, B T48 7RE Key personnel Director Transition Manager Finance manager Inclusion manager Mark Roberts ATJne Marie Donnelly Christine Maxwell Gavin Melly Page 2
Liberty Consortium (A company linjited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 October 2022 Advisers Audltors Shaun McGinly & Co 44 Woodbrook. Derry, B T48 8FF AIB Strand Road. Derry, BT48 7TN Clyde & Co (Nl) LLP 6 Casile Street. Derry, BT48 6HQ Bankers Solicitors Structure, governance and management The Liberly Con%orlium is a charitable ci)mpany limiled by guarantee and noi having any share capilul and is regislered under the Companies ALI 2006. Governlng Document The charit(Ible company's governing documenl is the Memorandum and Arlicles of AssoLialion. Members Liability Every member of the Lompdny undertakes to contribute to the assers of the ¢ompany, in the evenl ot the .same being wound up while helshe is a niember, or within one year afier helshe L'eases lo be d member. for paynienl ot the debts and lÉabililies of the LoJnpany coniraLled for before Leasing to be a member, <ind of the costs, charge% and expen5e% ot winding up, and tor the adjustment ol. the right% of the conlribuiorie% dinung Iliemselves, SULh ¥lliiL)unt U5 nuy be requir¢d nol exLeeding £ I, Related Partles Tran%aclion% with related parries are a4 di%clo%ed in the Relaied Party Transaction4 note in the accounts. Board of Dlrectors The charity is governed lind directed by a volun1k hnard which comprises approximately 7 people trom varied background and .skill sets. The aim of Ihc bo4ird is lo providc ledder%hip dnd develop sirategy as wcll as lo ensure good governiince and rinancial control. New board rnembers rcccivc training lo briet them on rolc4 and respon.%ibililies and Ihcir Icgal obligations under charity and company law, the orguni.salional struclurc and key organis(Ilional uclivilies. The bo<Lrd en%ures the good governance of Ihe charity by setting ils strategic objectives and policy direction and by monitoring the charity's Dpcralions. Board Meetlngs The boiird of director5 would meet about 6 limes a year and Ihcre are usually about 5 directors in attendance. These meclings include the Lharity's AGM. The day to day oper<ili(In% ()f Ihe charity are managcd by the s¢nior management team appointed by the board. The SLni(Ir rnandgement te<im attend board meetings and present tinancial reports and other operatlng infonnalion to the board to assisl Ihcm in their governance role. Serious Incidents Statement We, the Trustee5. confirm Ih41 there have been no seriou5 incident5 or other mdller4 during Ihe year which needed t() be reponed to Ihe Commission. Senior Management The Projeci Direclor. appoinied by ihe Board, Inanages Ihe day lo day vperalions of the organisalion. To facilitate effeclive operations, the Projecl DireLtor has been delegated auiliority for operational matters, illLluding the application and monitoring of slraiegic and operational objecliv¢s, attends all board meelin¥5 and updates the director5 on the charity's current fin1cial and operational POSiiion. All Liberly Con50rliun) s(¥ifl- reporL direLily (o ihe ProjeLI DireLlor. Compllance with Sector-wide Legislation & Standards l ) The charity engages pro-actively with legislation, standards and codes which are developed for the sector in the UK and Northern Ireland. The Lharily subscribes io and is compliant with the Companies Act 2006; the Charities SORP (FRS 102) dnd the Chdritie% Acl (Northem Ire1(dI 2008. 2) The charity ensures the well-being of employee8, client4 and cu.%tomer% through the %trict adherence to health and safet), .%landard%. System% in place to ensure that employee5 are (Iware of and implement the charity's healih and safet), requiremenLs. Employees are required ro work in a safe manner as mandaied by law and best practice. Page 3
Liberty Consortium (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 October 2022 Risk Management & Pincipal Risks The directors have examined the major strategic. busincss and operational risks which the chariiy faces and confirnis that Sy51ems have been established to enable regular reports lo be produced 50 thai the necessary steps can be taken to lessen these risks. The principal risk lo the chartty is if its core funding was not renewed or if its Day Opportuniiies contracl wilh WHSCT was not renewed. The chartty has established a risk managemenl process. which will ensure that the organisation manage5 and mitigates risk in line with the agreed risk of the organisation. The charity maintains an Issues log and Risk register which are reviewed regularly and aclcd upon by the Board. Having primary responsibility for risk management, the Board regularly consider the main strategic, business and operational risks facing the charity. The directors confirm that effective controls and reporting are in place to lessen these risks. Objectives and activities The principal objecE of the charitable company is lo promole the benefit of and the preservation and proleclion of health among children, young people and adults with disabilities and able bodied people liviiig in the Greater Shantallow area and its environs in Derry City and lo provide facilities in Ihe interesls of SOLial welfare for recreation und oiher leisure-tiTne occupation,with the object of irnproving the conditions of life for the beneficiaries and in particular lo: a) establish a safe and neutral pldy space lo promote inclusive play and recreational oportunilies for the beneficfftarie5 and b) proN'ide progrdmmes ol cducation and vocaliondl training designed to asstst the beneficiaries to lead io en]ploymenl. Vunerable Beneficiaries Statement We, the Trustees, confirm that there appropriate pollcies & procedures in place for the safeguarding of vunerable beneficiaries. Public Benefit Statement We. the Tru%tees, confirni that we have cofflplied with our duly under chlty lilw to have reg¢ird to the CoTnmission's public benefit guidance when exercising any powers or dutie4 to which this guidance 14 relevant. Public Benefit - How our activities deliver public benefit The primary objeciive of the charity is Lo promote the health and well being of the children. young people and adult.%. botb the able bodied and also those with di.sabililie% ID the Ciltchmenl area through the use of the facillties in the park and our wider programme delivery. The achievement of these public benefit objectlves are evidenced through the feedback from reSidentenefiCIar]eS who use the p(k and our wider programrnes. official government Slatislics and regular independent evaluations of the charity's range of programrne dclivery. Liberty Consoriium projccts and programme5 deliver public benefit for children, young people and adults living within the Ballyarnett D&strict Elecioral Area and the wider Derry City & Strabane Districi Council area (DC & SDC). Seeking to improve the quality ot life for those who utilise our services, we continued to adapt and review our provision, expanding our progrdmmes and adding value to existing services. The October 2022 year acLounts include the firsi full year's operations for the Thrift charity shop, which opened in December 2020 and which is located at the Norihside Cenire. As well as providing a much needed service within the local communit>, the shop also provides volunteering opporlunilies for 26 young people with leaTning disabilities & also employs 7 staff. Our "Tea in the Park" Social enterprise al Ihe Playlratl sile, added in 2019, also continues to providc work pldceTnent OPPOTtunilies for young adulis wi(h learning disabilities whenever il operates during the year. We have conlinued lo develop Ihe Playtrail site. maintaTntng the existing equipment & adding new equ2pmenl lo further enhance activities for park users. Our Day Opportunities programme & BUD Club have ensured that we have continued lo engage with Ollr young people during the Covid 19 lockdowns. Whilst il has been challenging in tems of engagement, the Playtrail has remained open during the lockdowns. with all facilities operating in accordance with (he relevant guid¢lines for public green spaces al the time. In remaining open, this afforded farnilles Ihe opportunity lo get together in a public. £afe, outdoor gpace with Playtrail staff also supplying a varieiy of aciiviiy packs 10 park users. Green Fingers community allotment Our onsite Green Fingers community allotment scheme also Temained open throughout the various covid lockdowThs and aftorded 30 plu% families the opportunity lo continue theÉr growing during a period when m¢iny were suffering from poor mental health and wellbeing. The pandemic h&5 lead 10 acknowlwdgement of the irnportance of green .space and this leaves rhe Playtrail site in a good place to conlinue to meei ihe needs ot itq local community. Page 4
Liberty Consortium (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 October 2022 Site Maintenance Being led by our annual ROSPA Inspection Report, our rigourous maintenance work has continued across the Playtrail site. ensuring that we continue to meet appropriate standards for our play equipmeni and ensuring the safety of our visiting public. Site works undertaken during the October 2022 year included significant expenditure on repairing and replacing park play equipment as well as further expenditure on improvements to the amphitheatre area. Our annual programrnc of free or affordable events continues to grow, linking to local group5 and schools, adding significant testivals to our calendar, which allow our young people to have a platfonn for their voices lo be heard and feel included. Achievements and performance Review of Activities and Achievements During the year the charity continued to receive grant aid from a number of funders including Dfc (formerly DSD), the Big Lullery and BBC Children in Need wh&ch has allowed it lo continue lo provide the various leisure based projects and play activities to those people living wtihin Ihe charity's larget geographic area. Staff The wages and salaries granis awarded by a vaticiy of funders. including ihe Dfc, the Big Lottery and BBC Children i Need. have allowed the charity to employ 9 full-time staff during Ihe year. Thrift Shop Our Thrifi Charity Shop (Social Enterpribc), located within the Northside shopping mall has celebrated its I st anniversary and is nor onty providing work experience opportunities for our young people but (ilso providing affordable clothing & homewares for the Iociil community ld reducing WdSte going to landf. The October 2022 accoun[& include the vJiious operating and payroll co%lS for the Thrift %hop together with approxirnalely £81.(M)O in operaiing incorne generated by the shop. The October 2022 account8 dlso include approximately £125.000 of grant aid received from the Big Lnttery under the 4 year agreement that ig in place with ihern to assist in meeting Ihe payroll and operating cosis of Ihe shop. The Big Lottery ftujding will be recognised in the cbarity's fjnancial statements over the 4 year period as the relevant payroll and other co$15 are tncurred. Any trading profits generated by the thrift shop project will be reinvested back into the charity. Extended Schools During the October 2022 year the charity conlinued with its involvement in the Extended Schools Programme with a number of local schools. The income for the year includes approximately £5,400 (20?1'.£8,000) gcnerated under the programtne. This programme will continue into Ihe new financial year. Comnlunity Health & Wellbeing award This year the work of Liberty Consortium was acknowledged by both Derry City & Strabane DistriLt Council and the Ballyarneti Local Growth Partnership when they nomin<lted us for an All-ITeland IPB Pride of Place award. A gala evenl held in Killarney showcased the best of the community & voluntary sector from across Ireland and following a robust judging proces.5, we were delighted to be awarded runner up in the Community Health & Wellbeing / City category. BUD Club Our BUD Club (Youth Provision) progran]me, which is a 2 year service level agreement with the EA Youth Service and which siarled in 2021. continues lo engage with Ihe young people that the project was set up to suppL)rl. HUB & Day Opportunities Our work al our HUB pr¢mi5es in Northside Village Centre continues io deliver high quality Provision for young adults with learning disabilities both across our Day Opportunities programmc and our BUD Youth provision.The October 2022 rinancial 5tatementg include over £680,000 of income generaled through our HUB "Day Opportunities" programme which continue5 to operate from the rented units ac the Northside Centre. Gardening and Allotments During the October 2022 ye1 we dg¢iin had (t number of gardening projects and the produce was distributed to local re%idenr.s. thu% encouraging local community growing to build resilience. promote healthy eaEing & physical activity and to bring people together in a common purpose. Page 5
Liberty CoDSOrtium (A company limited by guarantee) Report of the tnjstees (incoryorating the directors, report) for the year ended 31 October 2022 Community Fridge We have also received funding to establish a Community Fridge, to be located at the Playtrail site. which opened before Christmas 2022. A Community Fridge is a space thal brings people iogether to eai, connect, learn new skills and reduce food waste. It is a site where local people can share food, this includes surplus from supermarkets, local food businesses, producers, households and garden5. We believe that this will be a greut asset within the local community and we have already started engagement with our local Tesco & Sainsbury stores. This will only add to the community engagement that takes place within the Playtrail site, adding to our offering and addre55ing identified need within the local community. Financial review Financial results The charity's lolal incoTnc for ihe October 2022 yeat wa5 £1,311,763 (2021.'£1,205,657) and expenditure was £1,094,179 (2021-£901.804) resulting in a nel income of £217.584 12021.. £303,8.53) for the year. The OLtober 2022 figures include a further transfer of £200.000 to the unrestricled developTnent reserve, which has a balanLe ol £ 1.000,000 aflcr Ihe iran5fer. Wage5 and Salaries The employment costs for the Oclober 2022 year were £719,123 (2021-£592,664). Grant aid to assist wtih meeting wages costs continued to be received frorn a number of funders, including the D¢partmeni for Cotnmunities (Dfc), Ihe Big Lollery and BBC Childrcn in Need. Fundraising In order to assist Wtth meeting unfunded operating costs the chLrity usually engages in a range of fundr£iising events kmd ventures. However, despite Covid re%lrictions being eased durtng the year, there wer¢ no bpecifi¢ fundiai¥ing cvcn15 iubd no fundrai%iDg income generated during the past 3 financial years. However the chI11Y does plan to resume ils fundraising operdtions at some point. Reserves Policy It is the policy of the chartty to mainiain liquid funds at a level Ihai would enable it lo Opera for a reaqonable period should funding be reduced. The charity's aim is to build up the unrestricted re.%erve4 to provide for future co81% and conlingencies thal would arise in the event that funding wxs reduced or slopped so as to allow for Ihe orderly winding up of the ChitV. There are two unresrricted reserves, the unrestricted income fund and the unrestricted Development fund. All unrestricted funds generated by the charity are credited lo the Unrestricled income Fund General Reserve, with any transfers lo the Development fvnd being made from the unrestricted income fund. As at .? l October ?0?2 the chariiy has totd] unrc5tricted reserves of £1.254,0?5 (?021'.£1,004,921) inclusive of the net unrestricted surplus of £949,104 gcnerated in the October 2022 year. A further transfcr of £200.000 was made from the unrestricted incon]c fund to the developmenE fund. bringing that reserve up to a balance of £l.000,000. StaAng Staff levels are governed by the amount of grant aid obiatned lo assi51 with covering payroll costs and the amount of unrestricted income generated through the various activities undertaken by the charity. Addiliondl staff are only employed when Sufficient restricted and unrestricted fijnding has been secured lo cover related sa]arie5. Going Concern The Dfc funding lo the charity has curr¢J]ily been renewed unlil the end of March 2023 and the Big Loiiery Funding for the Ihrifi shop runs for 4 years up lo 2024. Furthermore the WHSCT coniracled Day Opportunities prograrnme for adulis with learning dtsabilities continued lo generate significant po£ittve cashflows for ihe charity in the October 2022 year and that is cxpecled to continue in (hc coming ye. As such Ihere are currently no issue5 with regards to the going Loncern Sta5 of the harity. Liberty Consortium Enteryrises CIC Due Co the fact it didn't generate any irading surpluses in the I<t three financial Ye<5, there hdve been no donations from Liberty Consortium Enterprie.4 CIC during Ihat period. The CIC 14 a trading eompany owned by Liberiy Con%ortium, which was %et up in April 2013 and who%e Memorandurn & Articles of Assoctation require that any profits that it generates get donaied to Liberty Consortium to assist '1[h n]eeting unfunded co8t8. Page 6
Liberty Consortium (A company limited by guarantee) Report of the trustees {incoryorating the directors, report) for the year ended 31 October 2022 The HUB & Day Opportunities Programme Our Day Opportunities continues to grow and its location at the HUB, in Norihside VTllage Cenlre, has ensured that the young people pariicipating on the programme are at the cenlrc of their community, allowing them to interact with traders, security staff. local residLnt.% and other cnmmunily groups based within the centre. Thc programme now operates 5 days pcr week. offering approximately 200 placcs tor young people. The activities are varied and the young people are afforded thc opportuniiy to participate in a hosi of programmes both locally and within the wider City & Dislrict area. This included partnership work with Walerside Theaire, Eden Arts Cenlre, Void, Ihe Nerve Ccntre and much more. Having access to our own minibus has also ensured the young people have becn oul and about. upcning up muLh more by way of programme delivery and linked in a¢iivilie5 across the City & Dislrict. The O¢lubcr ?0?? tinancial statements include income ot appr()ximately £680,000 (2021 .'£631 ,000) generated from Day Opp()rlunities programme. Caplt&l Expenditure The lolal Lapilal expendilure during the O¥lc)ber 21122 year amounted lo £13.585 (2021-£36,986) and ihe accounts also include £3,500 (2021 '. £3.073} of finanLial 4155isI(Ince in conneciion with the year's Lapilal expenditure. Covid 19 Pandernic & Post Balance Sheet Events ) The Covid pdndemiL has not had any significani adverse effect on ihe charity's operations (Ind as such Ihere has been no need io make 4iny addilional pruvisions or WTile down5 in the Ociober 2022 dLcouni4 due to the pandeniic. The Lhdrity has previously availed ol. the UK governments Coronavirus Job Reienlion SLheme granl aid for a number of employees and the October 2022 accounts include CJRS income of £0 (20?1:£111,346). 21 There have been no events that have L)cLurred between the balance sheet date and the dale of approving of Ihe acLounls Ihtil would require either the adjustmenl ol. the October 2022 tigure5 or the in¢lu5ion of a nun-tidjusling post balance sheei note in the acLounl5. Plans for future periods The Vrfirioub multi-ye&lf ward4 i)f findncidl d.%si%lance reLeived by the chariiy should ensure ihai Ihe chiirily'% %ldf'f are Éible lo develop <ind expcind the range of 4ervice.% and f<icililie% Ihal are provided.The new Big Lollery grant did run% tor 4 years lo 2024 and provides tinllnci<il assi%1£ ee lotalling approxirnately £.5 00.000. including c(Ipil411 expendiiure, programme cosLq and programrne staff wages. The laiest Dfc award should also cover most of Ihe wages cosis of two ¢rnployees up lo March 2023. The Trnslee% realise that, likc all organisalions, the ch&irity is currently oper(Iting in ch(Illenging cconomic limes. However they arL' hDpeful thai wilh the onbFoin&F findncial assislanLe I'ri)m funders anLS Ihc variiius 1)ther t'und gencr¢iling aclivities that Ihe charity undertakes. that it will be able l() continue providing access to thc Pldytrail facility and further dcvclop its Use in the Greater Shantallow area. Ststement as to disclosure of infornjation to auditors In 50 far as the Irustees are aware: Ihere is no relevanl audil ii)formalion of whiLh Ihe Lharilable company's auditor% are unaware; and the Iruslees have taken dll .qleps ihal Ihey oughi to have taken to make themselves aware of any relevanl audil informalion and to c51ablish ihai Ihe dudiioT5 are aware of Ihal inf()rmalion. Page 7
Liberty Consortium (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 October 2022 Statement of trustees, responsibilities The trustees (who are a150 directors of Liberty Consortium for the purpose of cornpany law) ar¢ responsible for preparing the Trustee5' Annual Report and the financial statements An accordance wtih applicable law and United Kingdom Generally Acccpled Accouniing Practice. Company law requires the tstees to prepare financial statements for each financial year whtch give a true and fair vlew of the stale of affairs of the charitable company and of the incoming resources and application of resources. inLluding the income and expenditure, of the charitable company for Ihal period. In preparing these financial statements, the Iruslees are required io- select suitable accouniing policies and then apply them consislently; observe the methods and principles in the Charities SORP. make judgements and ¢stimales that are reasonable and prndenl" stale wheiher applicdble UK Accounting Standards hdve been followed, subject lo any material departures disclosed 2nd explained in the financial 51atemenls' and prepare the financial stdlcments on the going concern basis unless it is inappropriate to presume thal the charitable company will continue in operat&on. The trustees dre responsible for keeping proper accounting records which disclose with reasonable acLuracy at any time Ihe financial posilion of the charitable company and which enable them lo ensure thal the finanLidl slaEements comply with the Companies Aci 2006. They al%0 re%poT)sible for SafegudIng the a%sels of the charilabLe compdlly (d hence for taking re&50nable steps for the prevention and deteciioTJ of fraud and other irregularitie4. Auditors Shaun McGinty & Co are deemed to be reappointed in accordance with Section 487(2) of the Companies Act 2006. On behalf of the board Caroline Campbell Secretsry & Director Darren Kirby Director 18 July 2023 Page 8
Liberty Consortium (A company limited by guarantee) Independent auditor's report to the trSteeS of Liberty Consortium Report on the audit of the financial ststements Opinion We have audited the financial statements of Liberty Consortium for The year ended 31 October 2022 which comprise the Statement of Financial Activities, Ihe Balance Sheet, Ihe Cash Flow Statement and the related notes lo the financial statements. including a summary of significant accounting policies set Dui in note l. The financial reporting tramework that has been applied in their preparation is applicable Northern Ireland law and FRS 102 "The Financial Reporting Standard applicable in the United Kingdom and Republic of Jreland" and the Accounting and Reporttng by Charities. Statement of Recommended Practice (Charities SORP) applicable to charities preparing their accounts in accordance with FRS 102. In QUT opinion the finanLial statements.. give a irue and fair view of ihe assets. liabilities and financial position of the Lharilable company's affairs as at 31 October 2022 and of its incoming resources and applicatii)n of resouTce5, including il5 income and expenditure, for the year then ended. have been properly prepared in acLorddnce with FRS 102 "Tlie Financial Reporiing Standard applicable in the UK and Republic of Ireland" as applied wilh regards to the Charities SORP: and have been properly prepared in accordance with the requirernents of the Companies Act 2006. Basis of opinion We conducted our audit in accordance with Inlernalional Standards on Auditing (UK) (ISAS UK) and applicable law. Our responsibilities under those standards are fiwher described in the Au(Jilor'4 r¢sponsibilitie.s for the audii of Ihe fmancial .statement% seciion of our report. We are kndependenl of the charity in accordance with ethical requirements thal are relevant to our audit of financial %lalement% in ihe UK and Northern Ireland. Including the FRC'S Ethical Standard for Auditors, and we have fulfilled our other ethical re8ponsibillllies in dccordance with these requirernent8. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinlon. We have undertaken the audit in &ccord4ince Th'ith Ihe requireTnents of APB Ethical Standards including APB Ethical Standard - Provisions Available for Small Entities, in the circumstances set out below.. In COTnmon with tnany other businesses of our size and nature we use our auditors io assist with the preparation of the financial stateTnents. Conclusions relating to going concern We have nothing to report in respect of the following matters In relaiion lo which ISA (UK) require us to report Eo you where: the tSlee5 use of the going concern basis of accounting in the preparation of the financial slalemenls is noi appropriate: or the trustees have not disclosed in the financial sldlemenls any idenlifted material uncertainties that may cast signifiLant doubt about the charity's ability lo continue to adopt the going concern basis of accounting for a period of al least twelve months from the dale when the financial 5lalemenls are auihorised for issue. Other information The tn]stees are responsible for the other infornialion. The other information compri5e5 the information included in the annual report other than th¢ financial staietnents and our Auditor's Report thereon. Our opinion on ihe financial statements does not cover thc uiher intormation and, excepl to the extent othenvi%e explicitly stated in our report, we do not expre55 any forn] of assurance conclusion Iheieon. P8ge 9
Liberty Consortium (A company limited by guarantee) In connection with our audit of the financiat %lalements, our respon%ibilily is to read the other tnfornution and, in doing so, consider whether the other infomjatkon is materially incon%i%tent with the financial .%tatements or our knowledge obtiiined in the audii. 01 otherwise appears 10 be maierially misslaled. If we identify such material inconsistencies or apparent material misqiaiemeni8, we are required lo detern]ine whether there is a maiertal misstatemenl in the financial statements or a material misstatement of the oiher information. If, based on the work we have performed, we conclude there is a material rnisstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinions on other matter prescribed by the Companies Act 2006 Based solely on the work undertaken in the course of the audit, we report thal= In our opinton. the information given in the Trustees. Report 15 Lonsistent with the financial statements. In our opinion, the Truslees, Report has been prepared in dCLurddnL¢ with the requirements of the Companies Act 2006. We have obtained all the infomjation and explanations which we consider necessary for the purpose of our audit. In our opinion, (he &ccuunting records of the charity were Sufficient to permii ihe financi&il S[aMen[SI0 be readily and properly audtted, and the financial slatements are in agTeementwith the accounting records. Matters on which we are required to report by exception Based on the knowledge and understanding of the charity and ils environment obtained in the course of the audit. we have not identified any material misslatements in the Trustees. Report. We have noihing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have nol been kept or returns adequate for our audit have not been receiv¢d from br<cheS not Vi5iled by us., or the financial statement% are not in agreement with the accounting records and return%; or ccrtaiD disclosures of tru4lees' remuneraiion 4pecified by law are noi made: or we have noi received all the inforniation and explanations we require for our audit: or the trustees, were not enlitLed to prepare the financial slalemenls in accordance with rhe .4mall companies regime and lake advantage of the .8mall companies exemption in preparing the Tru4iees' Annual Report. Respective responsibilities Respective responsibilities of the trustees As explatned rnore fijlly in thc Trustees, ResPOt15ibililies Statement set out in th¢ Trustees, Report, the trustees, (who are also directors 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 they determine is necessary to enable th¢ preparation of financial sthiements that ar¢ free from material misstatements. whether due to fraud or error. In preparing the financial sl2lemen15, the trustee8 are responsible for assesstng the charity's ability to continue as a going concern, disc105ing. as applicable, matters relaled to going concern and using the going concern basis of accounting unless management either inlends to liquidate the charity or lo ceas¢ operations, OT has no realislic allernalive bul to do so. Auditors's responsibilities for the audit of the financial statements Our objectives are lo obtain Teasonable assur&nLe about whether ihe finanLial siatemenis as a whole are free from tnaterial mtsstatement, whcther due lo fraud or eor, and to issue an Auditor's Report that includes our opinion. Reasonable asgurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstaicment when il exists. Misstatemenis can arise from fraud or error and considered material if, individually or in the aggre¥ate, they could reasonably be expecced lo influence the econoInic decisions of users taken on the basis of these finanLial statements. As part of dudit in accorddnce with ISAS (UK), we exercise professiondl judgemenE maint(iÉn professional cepticism tbroughout the audit. We dl.%o'. Page 10
Liberty Consortium (A company lirnited by guarantee) identify and a%8e5s the risk5 of material mi%statemeni of the tinancial stalemenr%, whether due lo fraud or eor,design and perfonn audit procedures responsive to those risks, and obtain audit evidence Ihdl is %ufficienl and appropriate to provide a baqi8 for our opinion. The risk of not detecting a material misstatement re.8ulting from fraud i.s higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omis4ion%, misrepresenlalions, or the override of internal controls. Obtain an understanding of internal control relevant lo the audit in order to design procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effeclivene5s of the internal control. Evaluate the appropriateness of accounting policies used and the rea50nableness of accounting ¢5limates and related disclosures made by the trustees. conclude on the appropriateness of thc directors use of the gorng concern basis of accounting and, based on the audit evidence obtained. whcther a material uncertainty exisis relaled to events or condition5 that may cast significdnl doubl on the charity's ability to continue as a going concern. If we conLlude that a material uncertainty exists, we dre required to draw altenÈion IT] our audiior's repon to the related disclosures in the financial slalements or, if such disLlosure5 are inadequaie, lo modify our opiniDn. Our conclusions are based on the audit evidenLe obiained up to the dale of our auditor's report. However, fvture events or conditions may cause the Lharity lo cease lo continue as a going concern. Evaluate the overall presentation, structure and content of the f1n&ncia] statements. including ihe disclosures, and whelher the financi<il stalernents represeni ihe underlying Iran%dLtion5 and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any signifjcanl deficiencies in internal control ihat we identify during our audit. The purpose of our audit report and to whom we owe our responsibilities This report is made solely to the charity'% Iru.%tee.s. a8 a body. in accordance with Chapter 3 of Pari 16 of the Companies Act 2006. Our audit work has been undertaken so that we might .4tate lo the charity's tru4iee% those malter.4 we required to slate to them in an dudilor'.% repon and f(Trr no other purpose. To the fulle81 extent pern]itled by law, we do not accept or a.%sume respon.gibility to anyone other than the charity and the charity's Irusiees as a body, for our audit worL for this report, or for the opinions we have fornied. 51 rf<rtf Shaun McGinty (Senior Statutory Auditor) For and on behalf of Shaun McGinty & Co Chartered Accountants and Registered Auditors - ( Statutory Auditors ) 44 Woodbrook Derry BT48 8FF 18 July 2023 Page 11
Liberty Consortium (A company limited by guarantee) Statement of financial activities {incorporating the income and expenditure account) For the year ended 31 October 2022 Unrestrleted Restricted funds fund5 2022 Unrestricted Restricted Total funds funds 2021 Total Notes Income Donations and legacies Other trading aLtivilies Other income 4.375 839,362 5.000 463.0?6 467.401 839,362 5,000 6,432 717,873 4,(M)O 477.352 483,784 717,873 4.000 Total Income 848,737 463,026 1,311,763 728,305 477,352 1,205,657 Expenditure on Sialf Lusts Establishment costs Motor and Iravelling expenses Auditurs, remuneration Legal and profes%ional fees Comniunicaiiuns 4ind IT Oiher ul'fice expenses Interest payable and similar churge Depreciation and impairmeni Loqs on disposal of inliingible fixed assets tor the charity'4 own use Oiher support co.st. Donations Provision for bad and douhiful debis Project and Activity Costs Oihcr project costs - TIP Project set up costs - thrift shop ProjLCt Costs Amphithciilre Project costs - other groundwork Total expenditure 406,753 91,180 6,618 3,090 7,284 4,578 12.067 4.073 12.376 312,370 32,677 499 1.000 3,656 2,607 1,601 1,062 35,020 719,123 123,857 7.117 4,090 111,940 7.185 256.926 55,7.30 2,781 2,730 7,197 335,738 34.921 675 I,(x)o 6,640 2,170 2.394 592,664 90,651 3.455 3.730 13,838 8.302 11,724 5,247 58.189 9,330 5,247 10,021 5.135 47,3Y6 48,168 17.246 381 125 19,093 1 .459 1,177 12,133 1.123 18,369 381 125 1 ?2,024 1.4.59 1,177 12.133 11.879 240 450 585 550 12,430 240 450 67.490 10?.931 66,906 1,809 11,477 10,000 1,809 19,121 11,200 7,644 1.200 599,633 494.546 1.094,179 379,355 522,448 901,804 Net income /(expenditure) for the year / Net incomel(expen5e) for the year 249,104 (31,520) 217.584 348,950 (45,096) 303,853 Total funds brought forward 1,004,921 226,576 1,231,497 655,971 271,673 927,644 Total funds carried forward 1,254.025 195.056 1,449.081 .004.921 226,-fj77 1.231.497 The statement of financial activities inLludes all gdins and los%e5 in the year and the fore a Separate statement of total recognised gaills and losses has not been prepared. All of the above amount% relate to conlinuing activities. The notes on pages 15 to 24 form an integral part of these financial statements. Page 12
Liberty Consortium (A company limited by guarantee) Balance sheet as at 31 October 2022 2022 2021 Notes Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand ?20,409 254.220 12 90,237 1.252.344 126,446 ,013,023 1,342.581 1,139,469 Creditors: amounts falling due within one year Net current assets 13 (113,909) (162,192) 1,228.672 977,277 Net assets 1,449.081 1,231.497 Funds Restricted income funds 14 195,056 226,576 Unrestricted income funds.. Unrestricted income fund.4 Development fvnd 254,025 I,000.O(K) 204.921 800,000 Total unrestricted income fund 1.254,025 1,004,921 Total funds 1.449.081 1,231.497 The ftnancial statements were approved by the board on 18 July 2023 and signed on lis behalf by Darren Director rby Caroline Campbe Director The not£$ on pages 15 to 24 form an integral part of these fInancial statenjents. Page 13
Liberty Consortium (A company limited by guarantee) Cash flow statement for the year ended 31 October 2022 2022 2021 Notes Net incoming resources for ihe year Interest payable Lossl(Gain) on disposal ot tixed assels Dcprccialion and impairmcnl Decreasel{Increase) in debiDr (DeLredise)Ilncrease in creditors 217,584 5.134 303,853 5,247 47,396 36,209 (50,530) 58,189 130,053) 3,804 Net cash inflow from operating actlvitles 255,793 341,041 Returns on investments and servicing of finance Capital expendilure 22 22 (5,134) (13,585) (5,247) 136.986) Increase In cash in the year 217,074 298,808 Reconciliation of net cash flow to movement in net funds 23 Increase fin cash in the year Net funds at l NuvL'mber 2021 237,074 1,009.459 298,808 710.652 Net funds at 31 October 2022 1,246,533 l.(K)9,460 Page 14
Liberty Consortium (A company limited by guarantee) Notes to financial statements for the year ended 31 October 2022 Accounting policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. Basis of accounting The financial statements are prepared under thc historical cost convention and in accordance with Accounting and Reporting by Charities.. Statcment of Recommcnded Practice applicable lo ch4Wities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeciive l January ?015) (Ch<wilies SORP (FRS I O?)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Acl 2006. 1.2. Cashflow 1.3. Income AII income 15 included in the statement of financial aciivilies when the charity is entiilcd Lo the income and ihe amouni Can be quanlified with reasonable accuracy. The following specific policies are applled to particular categories of. income: Donations and legacies income is received by wa5, of grants, donation5 and gifts and is included in full tn the statement of fanCIal activities when re¢eivable. Gran15 where entitlement is not conditional on the delivery of a specific performance by the charity, e recognised when the charity becomes ullcondilionally entitled to the grxnt. Donated services and facilities are included at the value lo the charity where this can be quaniitIed. The value of services provided by volunteers has not been inclllded. Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold. Grants, including grants for the purchase of fixed asscts, are recognised in full in the statement of financial activities in the year in which they are receivable. 1.4. Expenditure Expenditure is recognised on an accNal basis as a liability is incued. Expenditure includes any VAT which ¢annoi be fully recovered, and is repuned as parl ol the expenditure to which it relates. Costs of generaung funds comprise the costs associated with attraciing voluntary incorne and Ihe costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for ils beneficiaries. It includes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary to support them. Fundraising costs are ihose inL'urred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on Ihe objectts of the charity and include project management. Page 15
Liberty Consortium (A company limited by guarantee) Notes to financial statements for the year ended 31 October 2022 1.5. Tangible fixed assets and depreeiation Tangible fixed assets are siaied al cost less accumulated depreciation. Depreciation is provided at rates calculaled to write off the cost less residual value of each asset nver its exp¢cted useful lifc, as follows: Leasehold properties Fixtures. fittings and equipment Motor vchicles Siraighi line over the life of the lease 15%, 20% and ?5% straight line 25% straight linc 1.6. Defined contrlbution penslon schemes The pension costs charged in the financial sliltemenls represeni the conlribulion payable by the charity during Ihe year. Donations and legacies UnrestriLted Restrlcted funds funds 2022 Unrestrlcted Restrlcted Total funds funds 2021 Total Donations Grants receivuble - Big Lottery Fund Grants receivable - Lotlery - Awards for All Grants receivable - DC & SD Council Grants receiv¢ible - Peace IV Grant% receivable- BBC Children in Need Grani.8 receivable - Dfc Grants receivable - DOF Covid funding Granrs receivable - WHSCT Grants rcceivable- WELB & EA Other Grants rc£eivdblc Grants receivable - Paul Hamlyn Grants receivable - Rank Foundation Grants rec¢ivable - HMRC CJRS furlough grants 4,375 4.375 125.126 10,000 5,853 6,432 125.126 10,000 5.853 117,790 10,000 3,835 1,921 29,648 70,042 14,284 4,403 124.995 48.0.31 .38,696 3,.361 10,346 117,790 10,000 3.835 1,921 29,648 70,042 14,284 4.403 124,995 48.031 38,696 3,361 10,346 21,299 67,493 21.299 67.493 4.093 150,612 64,465 4.696 9,389 4.093 150,612 64,465 4.696 9,389 4,375 463,026 467,401 6.432 477,352 483,784 Other trading activities Unrestricted funds 2022 Unrestricled Total funds. 2021 Total Activities for generating funds 839,362 839,362 717,873 717,873 839,362 839,362 717,873 717,873 Page 16
Liberty Consortium (A company Itrnited by guarantee) Notes to financial statements for the year ended 31 October 2022 Other income Unrestricted funds 2022 Unrestricled Total funds 2021 Total Other income 5.000 5.000 4,(K)O 4,000 5,000 5.000 4,000 4,000 Net incoming resources for the year 2022 2021 Net incoming resources is stated after charging- Deprecialiun and other amounts WTilten off tangible fjxed assets Loss on disposal of tangiblc fixed assets Auditors, ren]uneration - Audit and accountancy fees 47,396 58,189 4,090 3,730 Employees Employment costs 2022 2021 Wages and salaries Social security costs Pension costs 632,971 54,700 31,452 524,216 40.610 27,838 719.121 592,664 No employee received emoluments of more than £60,000. Number of employees The average Monthly numbers of employees (including the trustees) during the year, calculated on the basts of full time equiva]ent5, was a5 follows.. 2022 Number 2021 Number Managemenl and Administration Other Stalf Directors l Trustees - Voluntary 26 23 35 34 Trustees, emoluments The trustees did llot receive any remuneration in connection with their role as truslees during the year. Page 17
Liberty Consortium (A company limited by guarantee) Notes to financial statements for the year ended 31 October 2022 Interest payable and similar charges 2022 2021 Bank fees and charges 5,135 5,247 Pension costs The company opcraieg a defincd coniribuiion pcnsion scheme in respccl of Ihe cligible cmployees who join the pension %cheme. The scheme and ils assets are held by independent managers. The pension chiirge represents coniributions due fTOm the company and was as fi)Ilows: 2022 202J Pension charge 31,452 27,838 10. Taxation The charity's ilLlivilie% tall wiihin Ihe cxempliony afforded by the provisions L)f Ihe Income and Corporation Taxes Act 1988. ALcordingly, there no LatIon Lhargc in these accounty. Long Ftxtures, leasehold flttlngs and property equipment 11. Tangible flxed assets Motor vehicles Total Cost At l November 20?1 Additions 463.156 33,020 732.624 13,585 At 31 October 20?2 463,156 250,033 33,020 746,209 Depreciation Ai l November 2021 Charge for the year Ai 31 October 2022 257,532 20..570 187,852 26,826 33,020 478,404 47,396 278,102 214,678 33.020 525,800 Net book values Ai 31 October 2022 185,054 35,355 220,409 At 31 October 2021 205.624 48.596 254,220 Page 18
Liberty Consortium (A company limited by guarantee) Notes to financial statements for the year ended 31 October 2022 12. Debtors 2022 2021 Trade debtor Amounts owed by group undertakings Prepayments and accrued income 76,738 3,028 10,471 115,704 1,135 9,607 90.237 126,446 13. Creditors: amounts falling due within one year 2022 2021 Bank overdraft Trade crediiors Other taxes and social security Other creditors Accruals and defe¢d income 5,811 5,660 15,872 5,551 81,015 3,564 6.826 11,401 4,080 136,321 113.909 162,192 Accruals and Deferred income include £76,432 (2021'.£132,451) of restricted grant atd which has been received in advance and which will be recognised as income when the relevant expenditllre ha8 been recognised and incuryed. 14. Analysis of net assets between funds Unrestricted Restricted Total funds Fund balances at 31 October 2022 as represented by.. Tangible fixed a55els Current assets cuent liabilities 27.931 1,226.094 192,478 116.487 (113.909) 220,409 1,342.581 (113,909) 1,254.025 195,056 1,449,081 Page 19
Liberty CoDSOrtium (A company limited by guarantee) Notes to financial statements for the year ended 31 October 2022 15. Unrestricted funds At l November Incoming Outgoing 2021 resources resources At 31 October 2022 Transfers Unrestricted Funds Dcvelopment Fund 204,9?1 800,000 848.737 (599.633) (200,000) 200,000 254,025 1.000,000 ,004,9?1 848.737 (.f 99.633) 1.254,025 Page 20
Liberty Consortium (A company limited by guarantee) Notes to financial statements for the year ended 31 October 2022 16. Restricted funds At At l November Incoming Outgoing 31 October 2021 resources resources 2022 Capital Grants & Capital Donaiions - Various Funders Department for Communitie5 (Dfc) grants Big Lottery grants Derry City & Slrabane District Council grants BBC - Children Tn Need grants Others granls ?26,576 (35,020) (67.493} (135,126) {5,853) (21.299) (229,755) 195,056 67.493 135,1?6 5.853 21,299 229,755 226.576 463.026 (494,546) 195.056 Purposes of restrEcted fund5 Restricled Fundiiig for Capital Expendilure l ) The funding (rom ihe Big Lollery Fund "Peoples Millions" programme was provided lo cover Ihe capital C051% of developiii¥ the Green Finger's project. 2) The funding from Derry Cily CounLII was provided lo a55isI with the capital cosls ot. installing the sound proofing barrier at the sensory park so as tv minimise the impuLI on neighbourin¥ prvperties. 3) The grant aid from NL EleLiricity and BERR, the Dep(irlmenl for Business Enterprise & Regulatory Reform, wa5 provided to as4141 wilh Ili¢ Lo,%15 of installing panels. 4) Further capital expenditure ()n Ilie Greentin¥er.% project Wds tunded by a nuniber of bodies, inLluding Derry City Council and Groundwork Nl. 5) Ilex provided funding lo cover Ihe 2013 year capilal spend on the auditorium. 6) BBC Children in NeLd provided fundÈng to cover 2014 year capildl coll nn cinema equipment. A loial of £ 7,730 wa.g received during the year with £ 7,151 rnalched ugainsi equipmeni co.4ts thai ye4if <ind ihe £579 balunce matched against revenue costs, £167 in 2015 & £412 in 2016. The October 2015 dccouni.s include £240 of capital grani8 received trom Children in Need rclating to asset additions in Ihe 2015 year. 7) The Enlerprise Link Challengc Fund provided capital tunding of £ 10,-fOO in the 2014 year lo cover construction of IhL Treehouse. The 2015 accoun1& included £ 7.750 ot capital grants from the Challcnge fund in respect of fixed (issei addilion% Ihal yedr. 8) The Big Lotfery fund provid¢d C&ipilal funding ot £ .1,606 for IT equipment additions for Ihe Hope project. 9) The charity recetved loldl granl aid of £ 3,700 from Lloyds trust in the 2014 ycar. Of the lotdl received £ 401 related to capital Lost% iind the balance was reL'ogynised and malLhed with revenue cogt.s. 101 During Ihc October 2016 year the Lhdrity receivcd £6,459 trom Greencare, £5.538 from Big Lollery, £500 from DSD and £ 1,09? from DCAL in L'dpllal gran15 to fund a5scI addition%. I l ) During Ihe year ended 31 OL'I()ber 2017 Ihe charity reLeived capilal grants iotalling £ 26,727, including £ 7.700 from PerLy Bilinn, £9,960 from Aviva, £2,250 from ACT and £1,500 froTn NTHE. 12) During the year ended 31 October 20111 the ¢harily received Lapildl grants IDtalling £ 18.979 from a vartety of funders, including £ 5,941 from Norihside Development T51. £ 57.fjl from ihe Karen MoriluLk Fund and £2,815 from Bailey Thomas. In addiiion the charity received a Donalion of £33,020 to cover Ihe cost of purchasiiig a new minibus for use in Ihe charity's activities. The capital grants and capital donalion meant that all asset addition5 during the year were fully funded. 13) During the year ended 31 October 2019 the charity received capital grants lotalling £36,108 from a varieiy of funders, including £ 12.909 from DM Thomas Foundulion, £6,633 troni Percy Bilivn and £2,157 Iruiii the Big Lottery to assist with nieeling total as5el iiddilion costs ot £40.177. 14) During the year ended 31 October 2020 the charity received £6,010 of capital grants from a variety of funders to assist wilh ftxed asset purchÉise%, including £1,197 from the Big lottery. £1.577 trom Children In Need, £1.576 from the Rank Foundation kuid £1,067 from the Arts Council for NI. 15) During the ye¢ir ended 31 October 2021 the charily received £3,073 of capital grants, including £998 from Dfc, £1,621 from BBC CIN and £454 frotn oiher tunder.4. 16) The October 2022 accoun[8 include a capital grant of £3,500 received from Danske Bank. Page 21
Liberty Consortium (A company limited by guarantee) Notes to financial statements for the year ended 31 October 2022 Restricted Funding for Revenue Expenditure l ) The funding from Children in Need is provided to assist with meeting the wages Costs. 2) The funding from the Dfc is provided to cover the recruilmenl. wages and other overhead COS15 incurrcd in onnection with sctiing up and developing both the Tr¢lnSltion programme Ihe Neighbourhood Renewal programme. 3) Thc funding from all other funders is provided lo assist with wages and other running costs. The new 4 year grant aid from the Big Lottery totalling £500,000 lo assist with the costs of the Thrift shop slarled in ?020 and will run unlil 2024. The grdnl aid 15 rccogniged in Ihc accounts on an accruals basis and malLhed with the expendilure li) which it ldIes. Any element of Ihe grant that is reueived in ddv(InLe is Irealed a5 deferred incorne al the balance sheet date and is included in credil()rs, lo be reLognised as inLome when the relevanl expendilure is incurred. Likewise where expenditure Is InLurred before the grant is received, then the grant due is recogni4¢d as inLome and the amounl owed ts included as an assei in Ihe balance sheel. Duriiig Ihe Oclober 2022 fin4iiicial year thc Lh&ilY received £120,660 from the Big Lollery under ihig coniraLI 4ind iilso received a further £10,000 undcr the Big tA>llery Aw4irds for All prog7ramme. Th¢ 2022 finanLi(11 s1(Ilemenls include grant income reLognised from Big Lultery of £ 125.126 and £IO,O(K) relating lo the 2 funded programmes logeiher with the relevanl mulL'hinu expenditure. A4 ai 31 October 2022 Ihe balance sheel Lredilors include a delerred balance or £16,681 (2021 ..£21,147) reldling lo the Big tA)il¢ry granl whiLh was reLeAved in advance, tu be recognised as inLorne when the relevant expcndiiure is incurred. The October 2022 finiincial statctnenls include income ut £21.299 from Children in Need lo&yeiher wlih the related matched expendiiure. Ati at 31 October 2022 creditor% include deferred incnme of £0 12021..£21,299) relaling to BBC CIN grants. Any deferred balances willl be recognised al income in the accounts whenever Ihe relevant expenditure is recogni8ed and incurred. All funding in the accoun15 is rccogniscd on an ¢iccrudl4 ba%15 and matched with the relaied expenditure. As at 31 Ociober 2022 rhe balance %heel crcditor4 include lot<il deferred income of £76,4.32 (2021.. £132.45]) r¢laiing lo grants that have been rLceived in advancc by the charity, inclusivc of the Big lollery 41dv4ince detailed separately in the noles above. As at 31 October 2022 the balance sheet also includ¢s debtors of £0 (2021 ..£2,788) relating 10 grants owed. Othcr restricted income and donalinns recognised in the ac¢oun15 arc matched against the related wages and other project costs. 17. General commitments The charity has entered into 2 mulli year lease agreemenls relating lo the various uni15 in the Norihside Village Centre from which the chdrily currently operates. The leases run for periods up to 2027, with Ihe charity having a break option upon giving 6 month.s notice in both 2025 dnd 2026. The charily is Lurrenily Committed to paylng rental cosls of approximately £50,000 under the le&se agreements. The £18,000 rental cosl relating lo the thrift shop unit is a cost that is nded under the 4 year grant aid provided by the Big Lottery. 18. Contingent liabilities Grdnts received could becotne repaydble in the event th(It the terms conditions of the leiEer of offer are not complied with. Page 22
Liberty Consortium (A company limited by guarantee) Notes to financial statements for the year ended 31 October 2022 19. Transactions with trustees l) The direciors (trustees) are all voluntary and do not receive any remuneration or expenses in connection with their role on the board. 20. Related party transactions l ) There have been no transaciions with Ardnashee School & College during the last four years and no balances exist between the two organiations. Dr M Dobbins. who re57gned as a director of the charity on 17 November 2020, is employed by the Departmenl of Education and is the principal of Ardnashee school. 2) The 2022 income includes £9,033 (2021-£5,596) from Greater Shantallow Area Partnership IGSAP) in connection with the provision of the play facilities lo participants of Ihe Extended Schoo15 Programme and various other services. Trade debtors at 31 O¢lober 2022 tnclude £270 (2021..£670) owed by GSAP. The Playtrail facilities are made available to GSAP on the same ternis as all other users. Mr Darren Kirby, a director of the harity, is an employee of GSAP, alihough he has no involvement in Ihe GSAP Exlended Schoo15 prograinme. 3) There has been no donation contributions generated by Liberly Consortium Enterprises CIC, a trading company owned by ihe charily, during the pasl 4 years ended 31 OcÈober 2022. The conslilulion of the CIC requires that a]15urpluses generad by it are donated to Ihe charity. A5 at 31 October 2021 Ihe charity's debtors include £1,135 owed by the CIC. 4) The 2022 income includes £125,126 {2021..£127,790) of grant aid frorn th¢ Big Lottery Fund. As at 31 (ktober 2022 creditors due within one year include grants in advance of £16,681 (2021.'£21,147) froJn the Big Lottery Fund. Dr Michael Dobbins, a now fonner director of tbe charity, was a member of the Northern Ireland conunittee for the Big Loltery Fund during ihe 2021 year but resigned from that po4ition during that year. Liberty Consortium applicaiion% for funding to the BAE tAittery Fund are deaIi with by the Big Lotlery Fund in accordance wilh their nornjal procedutes for &s,sessing appltcations. In accordance wilh the norn1 operating practices of the Big Loitery NI COTnmitlee, Dr Dobhins excluded him8elf from any meetings where funding applications by Liberty Consoriium were being considered by the Big Lottery. 5) The 2022 year income includes £21,299 {2021-.£29.648) of grant aid from BBC Children in Need. A5 at 31 October 2022 creditors due within one year include £0 (2021:£21.299) of grants received in advance from BBC Childrcn in Need. Mr Mark Roberts, a member of the management staff ot Liberty Consorlium, was a member of the BBC Children in Need local AppeaRs Advisory Committee in Northern Treland. although he resigned from that role in 2021. Liberty Con50rtium applications fi)r funding to BBC Children in Need are dealt with in accordance with their norn)al procedures for assessing application5. In accordance with the nonnal operating praciices of BBC Children in Need local Appeals Advisory Committee, Mr Roberts excluded hiTnself from any Appeals Advtsory Committee meetings where funding application5 by Liberty Consortium were being considered. 6) The 2022 year income inLlude5 costs of £190 invoiced by the Nerve Centre. As ai 31 October 2022 Ihere are no outstanding balances beiween the two organisalions. Mr John Peto, a director of Ihe charily, is also the Director of Education al the Nerve Centre. All transactions between the Iwo organi5alions occur under nonnal operating terms. 21. Controlling interest The charitable company is controlled collectively by the board of directors. Page 23
Liberty Consortium (A company limited by guarantee) Notes to financial statements ror the year ended 31 October 2022 22. Gross cash flows 2022 2021 Returns on investments and servlclng of finance Bank charges and In(eresi paid (5,134) (5.247) Capltal expendlture Payments to acquire tangible as.gels (13,585) (36,986) 23. Analysis of changes in net funds Openlng balance Cash flows Closlng balance Cash at bank and in hand Overdrafts ,013,023 (3,564) 239,321 12.2471 1,252,344 15,811) 1.009,459 237,074 1,246,533 Net funds I,(M)9,459 237,074 1,246,533 24. Company limlted by guarantee Liberty Consortium is a company limiied by guarantee and accordingly does not have a share capital. Every member of the company undertakcs lo contribute .%uch amount as may be required not excecding £1 lo the a%seis ot. the ch(Iril<iblc compdny in the event ut ils bein¥ wound up while he or she is a member, or within one year atler h¢ or she ceases to be a member. 25. Limitation of Auditors, Liability As slated in the leiieT of engagement dated 01 May 202_3 which was signed and approved by Ihe board of directors, Ihe li&bilily of ihe audilur 15 limited io ihe aniounl ul the annual fee. Page 24
Liberty Consortium (A company limited by guarantee) The following pages do not form part of the statutory accounts.
Liberty Consortium (A company limited by guarantee) Detailed statement of financial activities For the year ended 31 October 2022 2022 2021 Income Donations und lexaLies Donaiions Grants rcLeivable - Big Lotiery Fund Granis receivable Loltery Awards for All Grants receivable- DC & SD Council Grants receivable - PeaLe IV Granis receivable - BBC Children in Need Grants receivable - Drc Granls receivable - DOF Covid funding Granls receivable - WHscr Grants receivablc- WELB & EA Other Gran1% receivable Gran¢s receivable - Paul Hamlyn Grants receivable - Rank Foundation Grants receivable - HMRC CJRS furlough grants 4,375 125,126 i 0.000 5,853 6,432 117,790 10,000 1,921 29.648 70,042 14,284 4,403 124,995 48,031 38,696 3,361 10,346 21,299 4,093 150.612 64,465 4,696 9,389 467,401 483.784 ActlvltAes for generating funds 839,.362 717,873 839,362 717.873 Total income from generatlng funds 1,.306,76.1 1.201.657 Other Income Oiher income 5.000 4,000 5,000 4.000 Total income .311.763 1,205,657 Expendlture Costs of generatfing funds: Wa¥es & Salaries- Granls Aided Employer's NIC - Granl Aided Grants - Siaff - P¢nsion Losts Depreciation & Impalmnt - Grant Aided 632.971 54,700 31,452 35,020 524,216 40,610 27,838 48,168 754.143 640,832 Page 26
Liberty Consortium (A company limited by guarantee) Detailed statement of financial activities For the year ended 31 October 2022 Support costs Rent Rate% and water Light and heat Repairs and maintenance Premises security costs Insurance Supp(Irl - Eslablishmeni Uniform5 Motor and ITavel L()%ts Moior vehiLle custs Staff training Subscripiions and memberships Telephone and internel Printing, pu%1 und Sthiionery Compuicr costs Advertising and promotion Depreciation and impaimienl Other support costs Donations Provision for bad and doubtful debts 48,920 ?2? 9.896 50.382 1,578 10.419 2,441 3,608 3.509 3,928 2,327 7,185 3,761 9,427 480 12,376 18,369 381 125 35,366 275 6,25.1 30,709 1,924 10,794 5,330 1,760 1,695 8.788 3,118 8,302 6,274 4,341 1,109 10,021 12,430 240 450 189,334 149,179 Total cost of generating voluntary income Other operatlng costs Project and Activity cosls Other projeet costs - TIP Project set up costs - thrlft shop Project Costs . Amphitheatre Project costs - other groundwork 943,477 790,011 122.024 1.459 1,177 67.490 1,263 1,809 19,121 11,200 136,793 100,883 Tothl costs of generating funds 1.0110.270 890,894 Page 27
Liberty CoDSOrtium (A company limited by guarantee) Detailed statement of financial activities For the year ended 31 October 2022 2022 2021 Support costs Audit and accountancy fees Support - Professional _ Other Bank interest and charges 4,090 4,685 5,134 3,730 ,932 5,247 13.909 10,909 Total other costs 13,909 10,909 Other resources expended tA)ss on dispos ol &mgible fixed assets Net income/(expenditure) for the year 217,584 303,853 Page 28