**Charity number: XR82572 & NIC100738 Company number: NI060209** **Liberty Consortium (A company limited by guarantee)** **Trustees' report and financial statements** **for the year ended 31 October 2024** ## **Liberty Consortium (A company limited by guarantee)** ## **Contents** ||**Page**| |---|---| |Legal and administrative information|**1**| |Trustees' report|**2 - 8**| |Auditors' report to the trustees|**9 - 11**| |Statement of financial activities|**12**| |Balance sheet|**13**| |Cash flow statement|**14**| |Notes to the financial statements|**15 - 23**| ## **Liberty Consortium (A company limited by guarantee)** ## **Legal and administrative information** |**Charity numbers**|XR82572 & NIC100738|| |---|---|---| |**Company registration number**|NI060209|| |**Business address**|15 Racecourse Road|| ||Derry|| ||BT48 7RE|| |**Registered office**|The Playtrail|| ||15 Racecourse Road|| ||Derry|| ||BT48 7RE|| |**Trustees**||| ||Darren Kirby|Chairperson| ||Caroline Campbell|| ||Edyth Dunlop|Appointed 13/01/2020| ||Eilis Gill|| ||John Peto|| ||Aine Harnett|Appointed 21/03/2023| |**Secretary**|Caroline Campbell|| |**Ex-Officio Member**|Helen Turton|DC & SD Council representative| |**Key managememt personnel**||| |**CEO**|Mark Roberts|| |**Transition manager**|Anne Marie Donnelly|| |**Finance manager**|Christine Maxwell|| |**Inclusion manager**|Gavin Melly|| |**Auditors**|Shaun McGinty & Co|| ||Chartered Accountants|| ||44 Woodbrook|| ||Derry|| ||BT48 8FF|| |**Bankers**|AIB|| ||Meadowbank|| ||Strand Road|| ||Derry|| ||BT48 7TN|| |**Solicitors**|Clyde & Co (NI) LLP|| ||Solicitors|| ||Centrepoint|| ||24 Ormeau Avenue|| ||Belfast, BT2 8HS|| **Page 1** ## **Liberty Consortium (A company limited by guarantee)** ## **Report of the trustees (incorporating the directors' report) for the year ended 31 October 2024** The trustees present their report and the financial statements for the year ended 31 October 2024. The financial statements are prepared in accordance with the Companies Act 2006, the Charities Act (NI) 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Trustees Report contains the information required to be provided in the Trustees Annual Report under the Statement of Recommended Practice (SORP) guidelines. The directors of the company are also charity trustees for the purpose of charity law and under the company's constitution are known as members of the board of trustees. In this report the trustees present a summary of its purpose, governance, activities, achievements and finances for the financial year ended 31 October 2024. ## **Directors and trustees** The trustees, who are also directors of Liberty Consortium for the purposes of company law and who served during the year and up to the date of this report are set out below. ## **Trustees** Chairperson Darren Kirby Caroline Campbell Appointed 13/01/2020 Edyth Dunlop Eilis Gill John Peto Appointed 21/03/2023 Aine Harnett **Secretary** Caroline Campbell **Ex- Officio Member** Helen Turton DC & SD Council representative **Reference and administrative details Charity number** XR82572 & NIC100738 **Company registration number** NI060209 **Registered office** The Playtrail, Derry, BT48 7RE **Key personnel CEO** Mark Roberts **Transition manager** Anne Marie Donnelly **Finance manager** Christine Maxwell **Inclusion manager** Gavin Melly **Page 2** ## **Liberty Consortium (A company limited by guarantee)** ## **Report of the trustees (incorporating the directors' report) for the year ended 31 October 2024** ## **Advisers** **Auditors** Shaun McGinty & Co 44 Woodbrook, Derry, BT48 8FF **Bankers** AIB Strand Road, Derry, BT48 7TN **Solicitors** Clyde & Co (NI) LLP Centrepoint, 24 Ormeau Avenue, Belfast, BT2 8HS ## **Structure, governance and management** The Liberty Consortium is a charitable company limited by guarantee and not having any share capital and is registered under the Companies Act 2006. ## **Governing Document** The charitable company's governing document is the Memorandum and Articles of Association. ## **Members Liability** Every member of the company undertakes to contribute to the assets of the company, in the event of the same being wound up while he/she is a member, or within one year after he/she ceases to be a member, for payment of the debts and liabilities of the company contracted for before ceasing to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding £1. ## **Related Parties** Transactions with related parties are as disclosed in the Related Party Transactions note in the accounts. ## **Board of Directors** The charity is governed and directed by a voluntary board which comprises approximately 7 people from varied backgrounds and skill sets. The aim of the board is to provide leadership and develop strategy as well as to ensure good governance and financial control. New board members receive training to brief them on roles and responsibilities and their legal obligations under charity and company law, the organisational structure and key organisational activities. The board ensures the good governance of the charity by setting its strategic objectives and policy direction and by monitoring the charity's operations. ## **Board Meetings** The board of directors would meet about 9 times a year and there are usually about 5 directors in attendance. These meetings include the charity's AGM. The day to day operations of the charity are managed by the senior management team appointed by the board. The senior management team attend board meetings and present financial reports and other operating information to the board to assist them in their governance role. ## **Serious Incidents Statement** We, the Trustees, confirm that there have been no serious incidents or other matters during the year which needed to be reported to the Commission. ## **Senior Management** The CEO, appointed by the Board, manages the day to day operations of the organisation. To facilitate effective operations, the CEO has been delegated authority for operational matters, including the application and monitoring of strategic and operational objectives, attends all board meetings and updates the directors on the charity's current financial and operational position. All Liberty Consortium staff report directly to the CEO. ## **Compliance with Sector-Wide Legislation & Standards** 1) The charity engages pro-actively with legislation, standards and codes which are developed for the sector in the UK and Northern Ireland. The charity subscribes to and is compliant with the Companies Act 2006; the Charities SORP (FRS 102) and the Charities Act (Northern Ireland) 2008. 2) The charity ensures the well-being of its employees, clients and customers through the strict adherence to health and safety standards. Systems are in place to ensure that employees are aware of and implement the charity's health and safety requirements. Employees are required to work in a safe manner as mandated 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 2024** ## **Risk Management & Pincipal Risks** The directors have examined the major strategic, business and operational risks which the charity faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. The principal risk to the charity is if its core funding was not renewed or if its Day Opportunities contract with WHSCT was not renewed. The charity has established a risk management process, which will ensure that the organisation manages 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 acted 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 object of the charitable company is to promote the benefit of and the preservation and protection of health among children, young people and adults with disabilities and able bodied people living in the Greater Shantallow area and its environs in Derry City and to provide facilities in the interests of social welfare for recreation and other leisure-time occupation,with the object of improving the conditions of life for the beneficiaries and in particular to: a) establish a safe and neutral play space to promote inclusive play and recreational oportunities for the beneficiaries and b) provide programmes of education and vocational training designed to assist the beneficiaries to lead to employment. ## **Vunerable Beneficiaries Statement** We, the Trustees, confirm that there are appropriate policies & procedures in place for the safeguarding of vunerable beneficiaries. ## **Public Benefit Statement** We, the Trustees, confirm that we have complied with our duty under charity law to have regard to the Commission's public benefit guidance when exercising any powers or duties to which this guidance is relevant. ## **Public Benefit - How our activities deliver public benefit** The primary objective of the charity is to promote the health and well being of the children, young people and adults, both the able bodied and also those with disabilities in the catchment area through the use of the facilities in the park and our wider programme delivery. The achievement of these public benefit objectives are evidenced through the feedback from residents/beneficiaries who use the park and our wider programmes, official government statistics and regular independent evaluations of the charity's range of programme delivery. Liberty Consortium's various projects and programmes continue to deliver public benefit for children, young people and adults living within the Ballyarnett District Electoral Area and across the wider Derry City & Strabane District Council area (DC & SDC). Seeking to improve the quality of life for those who utilise our services, we continued to adapt and review our provision, expanding our programmes and adding value to existing services. The services and programmes on offer continue to draw beneficiaries from across the Council area, with young people with learning disabilities travelling to avail of the HUB and BUD Club, as well as families travelling from every DEA to participate in events held on the Playtrail site. This year the work of Liberty Consortium was acknowledged by Derry & Strabane District Council with our BUD Club youth provision being selected as the new mayor's Charity of the Year. Fundraising activities have already kicked off and a full year long programme of further events are in the planning which will not only raise much needed funds but also the profile of the organisation across the City & District. The October 2024 accounts include approximately £5K of additional donation income generated as a result of being selected as the mayor's charity of the year. The Northside Village Centre which has become our second home with the HUB Day Opportunities Programme, BUD Club Youth Provision and the Thrift charity shop all being based there and continuing to thrive. The October 2024 accounts include approximately £70,000 (2023:£74,000) of trading income generated through the Thrift charity shop, which employs 7 staff and provides volunteering opportunities for approximately 26 young people with learning disabilities. While the 4 year National Lottery funding provided to operate the Thrift shop finished in September 2024, the shop has remained operational and the Board and management continue to look for a sustainable model for the continuation of the service. The Day Opportunities programme has expanded into 2 additional rooms, for 2 days per week to allow for increased capacity and growth. The HUB Day Opportunities programme, funded under the Self Directed Support Model by the WHSCT provides approximately 237 weekly places to people with learning disabilities so as to enhance their personal development, life skills and independence. While the BUD Club aims to provide a generic and targeted youth provision for young people with disabilities aged 11 to 25 years old. During the year a BUD Juniors programme continued to operate on 4 afternoons per week at the HUB. **Page 4** ## **Liberty Consortium (A company limited by guarantee)** ## **Report of the trustees (incorporating the directors' report) for the year ended 31 October 2024** ## **Playtrail Site** We have continued to develop the Playtrail, located on the Ardnashee School & College site at Racecourse Road, through maintaining the existing equipment & adding new equipment to further enhance activities for park users. The Playtrail site continues to support the local community and continues to be the base for the Extended Schools programme operated for a number of the local schools. The October 2024 year also saw the continued development of the Community Fridge service tackling food waste, which received funding support from HUBBUB. Furthermore Extended Schools funding provided Forest School sessions for local nursery and primary schools; while our vibrant Green Fingers Community Allotment Scheme provided an avenue for healthy eating and increased physical activity. In order to maintain the Keeping NI Beautiful Green Flag Award received in 2023 and while 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 equipment and ensuring the safety of our visiting public. During the October 2024 year park maintenance work included expenditure on repairing and replacing park play equipment as well repairs to the site fencing and to the playground surfaces. Our annual programme of free or affordable events at the Playtrail site continued to grow, linking to local groups and schools, adding significant festivals to our calendar, which allow our young people to have a platform for their voices to 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 National Lottery Community Fund and EA which has allowed it to continue to provide the various leisure based projects and play activities to those people living within the charity's target geographic area. ## **Staff** The wages and salaries grants awarded by a variety of funders, including the DfC, the National Lottery Community Fund and EA, assist the charity in employing both its full-time and part-time staff during the year. ## **Thrift Charity Shop** Our Thrift Charity Shop (Social Enterprise), located within the Northside shopping mall has continued to trade throughout the October 2024 year and charity income for the year includes approximately £70,000 (2023; £74,000) of trading income generated through the shop. The charity shop is not only providing work experience opportunities for our young people and placing them front and centre in the heart of the community but is also providing affordable clothing and homewares for the local community and reducing waste going to landfill. During the year there were approximately 30 young people in receipt of volunteering opportunities at Thrift. Training was given to all young people involved in the project covering roles, responsibilities and expectations of working. The October 2024 accounts also include approximately £133,000 (2023:£142,000) of grant aid received from the National Lottery under the 4 year agreement that was in place with them to assist in meeting the payroll and operating costs of the shop. The National Lottery funding finished at the end of September 2024. Any trading profits generated by the thrift shop project will be reinvested back into the charity. ## **The Playtrail and Extended Schools** During the October 2024 year the charity continued with its involvement in the Extended Schools Programme with a number of local schools. The income for the year includes approximately £7,000 (2023:£12,200) generated under the programme. Through Extended Schools funding, managed by GSAP, our forest school practitioner continued to deliver forest school sessions to six nursery schools from the Outer North area. In addition a number of external groups, including other nursery schools, paid for forest school sessions. As already mentioned in the public benefit section, regular maintenance and improvement work is carried out to the Playtrail site each year so as to maintain it at the "Green Flag" status level that was awarded to the site in 2023. In maintaining the site the charity focus has moved more towards developing growing spaces, including the newly established kitchen garden, rather than purely green spaces. The programmes operating on the Playtrail site during the year included the Community Fridge programme, which included family cooking classes and community growing. While new relationships were developed with Ardnashee School & College to support their cookery classes, including providing grown ingredients when available. **Page 5** ## **Liberty Consortium (A company limited by guarantee)** ## **Report of the trustees (incorporating the directors' report) for the year ended 31 October 2024** ## **Playtrail Youth Forum** The Playtrail Youth Forum set up in 2023 continues to provide a platform for the young people who use our facilities to develop new skills, build leadership, allow their voices to be heard and involve them in the decision making processes. The forum also provides a mechanism to consult with wider stakeholders within the statutory, community and voluntary sector in order to promote the voice of children and young people with disabilities and advocate on their behalf. ## **BUD Club and Bud Juniors** Our BUD Club (Youth Provision) programme, with funding through a service level agreement with the EA Youth Service continues to engage with the young people that the project was set up to support despite the difficulties of reduced funding impacting all organisations in Northern Ireland. While the BUD Juniors programme, set up in 2023, and aimed at providing more safe spaces for young people with disabilities to engage and build friendships, continues to operate 4 days a week and cater for participants aged 11 to 14. ## **HUB & Day Opportunities** Our work at our HUB premises in Northside Village Centre continues to deliver high quality provision for young adults with learning disabilities both across our Day Opportunities programme and our BUD Youth provision.The October 2024 financial statements include approximately £840,000 (2023:£780,000) of income generated through our HUB "Day Opportunities" programme which continues to operate from the rented units at the Northside Centre. ## **Gardening and Allotments** During the October 2024 year we again had a number of gardening projects and the produce was distributed to local residents, thus encouraging local community growing to build resilience, promote healthy eating & physical activity and to bring people together in a common purpose. ## **Community Fridge** The Community Fridge project, located at the Playtrail site, opened in late 2022. The Community Fridge is a space that brings people together to eat, 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 gardens. We believe that this will be a great asset within the local community and help local supermarkets to reduce their food waste while also contributing to the local community in which they operate. This project will only add to the community engagement that takes place within the Playtrail site, adding to our offering and addressing identified need within the local community. ## **Financial review** ## **Financial results** The charity's total income for the October 2024 year was £1,331,255 (2023:£1,236,605) and expenditure was £1,084,085 (2023:£968,369) resulting in a net income of £247,170 (2023: £268,236) for the year. The October 2024 figures include a further transfer of £200,000 to the unrestricted development reserve, which has a balance of £1,400,000 after the transfer. ## **Wages and Salaries** The employment costs for the October 2024 year were £748,315 (2023:£679,964). Grant aid to assist with meeting wages costs continued to be received from a number of funders, including the Department for Communities (DfC), the National Lottery Community Fund and EA. ## **Fundraising** In order to assist with meeting unfunded operating costs the charity has previously engaged in a range of fundraising events and ventures. Fundraising activities had to stop during the pandemic and while Covid restrictions have all been lifted, there have been no specific fundraising events and no fundraising income generated during the past few financial years. However the charity does expect to resume its fundraising operations at some point. **Page 6** ## **Liberty Consortium (A company limited by guarantee)** ## **Report of the trustees (incorporating the directors' report) for the year ended 31 October 2024** ## **Reserves Policy** It is the policy of the charity to maintain liquid funds at a level that would enable it to operate for a reasonable period should funding be reduced. The charity's aim is to build up the unrestricted reserves to provide for future costs and contingencies that would arise in the event that funding was reduced or stopped so as to allow for the orderly winding up of the charity. There are two unrestricted reserves, the unrestricted income fund and the unrestricted Development fund. All unrestricted funds generated by the charity are credited to the Unrestricted income Fund General Reserve, with any transfers to the Development fund being made from the unrestricted income fund. As at 31 October 2024 the charity has total unrestricted reserves of £1,815,247 (2023:£1,550,175) inclusive of the net unrestricted surplus of £265,072 generated in the October 2024 year. A further transfer of £200,000 was made from the unrestricted income fund to the development fund, bringing that reserve up to a balance of £1,400,000. ## **Staffing** Staff levels are governed by the amount of grant aid obtained to assist with covering payroll costs and the amount of unrestricted income generated through the various activities undertaken by the charity. Additional staff are only employed when sufficient restricted and unrestricted funding has been secured to cover related salaries. ## **Going Concern** The DfC funding to the charity has currently been renewed until the end of March 2025 and the National Lottery funding for the Thrift shop finished in September 2024. Furthermore the WHSCT contracted Day Opportunities programme for adults with learning disabilities continued to generate significant positive cashflows for the charity in the October 2024 year and that is expected to continue in the coming year. As such there are currently no issues with regards to the going concern status of the charity. ## **Liberty Consortium Enterprises CIC** Due to the fact it didn't generate any trading surpluses in the last four financial years, there have been no donations from Liberty Consortium Enterpries CIC during that period. The CIC is a trading company owned by Liberty Consortium, which was set up in April 2013 and whose Memorandum & Articles of Association require that any profits that it generates get donated to Liberty Consortium to assist with meeting unfunded costs. ## **The HUB & Day Opportunities Programme** Our Day Opportunities continues to grow and its location at the HUB, in Northside Village Centre, has ensured that the young people participating on the programme are at the centre of their community, allowing them to interact with traders, security staff, local residents and other community groups based within the centre. The programme now operates 5 days per week, offering approximately 237 places for young people. The activities are varied and the young people are afforded the opportunity to participate in a host of programmes both locally and within the wider City & District area. This has included partnership work with Waterside Theatre, Eden Arts Centre, Void, the Nerve Centre and much more. Having access to our own minibus has also ensured the young people have been out and about, opening up much more by way of programme delivery and linked in activities across the City & District. The October 2024 financial statements include income of approximately £840,000 (2023:£780,000) generated from Day Opportunities programme. ## **Capital Expenditure** The October 2024 accounts include capital expenditure of £18,340 (2023: £0) together with related capital grant funding of £5,323 (2023:£0). ## **Covid 19 Pandemic & Post Balance Sheet Events** 1) The Covid pandemic has not had any significant adverse effect on the charity's operations and as such there has been no need to make any additional provisions or write downs in the October 2024 accounts due to the pandemic. The charity has previously availed of the UK governments Coronavirus Job Retention Scheme grant aid for a number of employees, this government assistance finished in the 2021 financial year. 2) Following receipt of the Roe Consultancy report in October 2023, the Board has continued to consider its recommendations and make changes to operations in light of the report. However there have been no events that have occurred between the balance sheet date and the date of approving of the accounts that would require either the adjustment of the October 2024 figures or the inclusion of a non-adjusting post balance sheet note in the accounts. **Page 7** ## **Liberty Consortium (A company limited by guarantee)** ## **Report of the trustees (incorporating the directors' report) for the year ended 31 October 2024** ## **Plans for future periods** The various multi-year awards of financial assistance received by the charity should ensure that the charity's staff are able to develop and expand the range of services and facilities that are provided.The National Lottery grant aid finished in September 2024 and provided financial assistance totalling approximately £500,000, including capital expenditure, programme costs and programme staff wages. The latest DfC award should also cover most of the wages costs of two employees up to March 2025. The Trustees realise that, like all organisations, the charity is currently operating in challenging economic times. However they are hopeful that with the ongoing financial assistance from funders and the various other fund generating activities that the charity undertakes, that it will be able to continue providing access to the Playtrail facility and further develop its use in the Greater Shantallow area. The Board also continues to fully consider the points raised in the organisational review report that was completed on the charity by Roe Consultancy in October 2023 and consider the recommendations of that report as they move forward in the new financial year. ## **Statement as to disclosure of information to auditors** In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. ## **Statement of trustees' responsibilities** The trustees (who are also directors of Liberty Consortium for the purpose of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **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 Darren Kirby Secretary & Director Director** **1 July 2025** **Page 8** ## **Liberty Consortium (A company limited by guarantee)** ## **Independent auditor's report to the trustees of Liberty Consortium** ## **Report on the audit of the financial statements** ## **Opinion** We have audited the financial statements of Liberty Consortium for the year ended 31 October 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and the related notes to the financial statements, including a summary of significant accounting policies set out in note 1. The financial reporting framework 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 Ireland" and the Accounting and Reporting by Charities; Statement of Recommended Practice (Charities SORP) applicable to charities preparing their accounts in accordance with FRS 102. - In our opinion the financial statements: - give a true and fair view of the assets, liabilities and financial position of the charitable company's affairs as at 31 October 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" as applied with regards to the Charities SORP; and - have been properly prepared in accordance with the requirements of the Companies Act 2006. ## **Basis of opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs UK) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with ethical requirements that are relevant to our audit of financial statements in the UK and Northern Ireland, including the FRC's Ethical Standard for Auditors, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. We have undertaken the audit in accordance with the requirements of APB Ethical Standards including APB Ethical Standard - Provisions Available for Small Entities, in the circumstances set out below: In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements. ## **Conclusions relating to going concern** We have nothing to report in respect of the following matters in relation to which ISA (UK) require us to report to you where: - the trustees use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or - the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the annual 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. **Page 9** ## **Liberty Consortium** ## **(A company limited by guarantee)** In connection with our audit of the financial statements, 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 or a material misstatement of the other information. If, based on the work we have performed, we conclude there is a material misstatement 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 that: - In our opinion, the information given in the Trustees' Report is consistent with the financial statements. - In our opinion, the Trustees' Report has been prepared in accordance with the requirements of the Companies Act 2006. We have obtained all the information and explanations which we consider necessary for the purpose of our audit. In our opinion, the accounting records of the charity were sufficient to permit the financial statementsto be readily and properly audited, and the financial statements are in agreementwith the accounting records. ## **Matters on which we are required to report by exception** Based on the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified any material misstatements in the Trustees' Report. We have nothing 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 not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees' were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Trustees' Annual Report. ## **Respective responsibilities** ## **Respective responsibilities of the trustees** As explained more fully in the Trustees' Responsibilities Statement set out in the 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 the preparation of financial statements that are free from material misstatements, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity'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 management either intends to liquidate the charity or to cease operations, or has no realistic alternative but to do so. ## **Auditors's responsibilities for the audit of the financial statements** 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. As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also: **Page 10** ## **Liberty Consortium** ## **(A company limited by guarantee)** - . identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. - . Obtain an understanding of internal control relevant to the audit in order to design procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - . Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - . conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. - . Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions 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 significant deficiencies in internal control that 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's trustees, 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 charity's trustees 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. ........................................... **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** **1 July 2025** **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 2024** |||**Unrestricted**|**Unrestricted**|**Restricted**|||**2024 **|**Unrestricted **|**Unrestricted **|**Restricted**|**Restricted**|**Restricted**|||**2023**| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||**funds**|**funds**|||**Total**||**funds**||**funds**||||**Total**| ||**Notes**||**£**|**£**|||**£**||**£**||**£**||||**£**| |**Income**|||||||||||||||| |Donations and legacies|2||13,823|375,776|||389,599||5,728||338,299||||344,027| |Other trading activities|3||929,408|-|||929,408||887,578||-||||887,578| |Other income|4||12,248|-|||12,248||5,000||||||5,000| |**Total income**|||955,479|375,776||1,331,255|||898,306||338,299|||1,236,605|| |**Expenditure on**|||||||||||||||| |Staff costs|6||453,340|294,975|||748,315||401,256||278,707||||679,964| |Establishment costs|||105,472|20,365|||125,837||63,119||35,120||||98,240| |Motor and travelling expenses|||4,271|-|||4,271||6,675||-||||6,675| |Auditors' remuneration|||4,360|-|||4,360||4,160||-||||4,160| |Legal and professional fees|||8,554|1,339|||9,893||14,867||1,000||||15,867| |Communications and IT|||6,988|1,000|||7,988||6,412||259||||6,670| |Other office expenses|||3,671|2,324|||5,995||6,235||508||||6,742| |Interest payable and similar charges|8||4,820|-|||4,820||5,737||-||||5,737| |Depreciation and impairment|||14,540|23,226|||37,766||11,916||27,914||||39,830| |Other support costs|||25,102|-|||25,102||19,981||2,796||||22,777| |Donations|||1,000|-|||1,000||27||50||||77| |Provision for bad and doubtful debts|||65|-|||65||110||-||||110| |Project and Activity costs|||57,956|50,449|||108,405||61,661||19,859||||81,520| |Fundraising costs|||268|-|||268||-||-||||-| |**Total expenditure**|||690,407|393,678||1,084,085|||602,156||366,213||||968,369| |**Net income /(expenditure) for the**|**year /**||||||||||||||| |**Net income/(expense) for the year**|||265,072|)
(17,902|||247,170||296,150||(27,914|)|||268,236| |Total funds brought forward||1,550,175||167,142||1,717,317||1,254,025|||195,056|||1,449,081|| |**Total funds carried forward**||1,815,247||149,240||1,964,487||1,550,175|||167,142|||1,717,317|| The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. **The notes on pages 15 to 23 form an integral part of these financial statements.** **Page 12** ## **Liberty Consortium (A company limited by guarantee)** ## **Balance sheet as at 31 October 2024** |||||**2024**|||**2023**| |---|---|---|---|---|---|---|---| ||**Notes**|**£**||**£**|**£**||**£**| |**Fixed assets**|||||||| |Tangible assets|11|||161,153|||180,579| |**Current assets**|||||||| |Debtors|12|167,379|||65,643||| |Cash at bank and in hand||1,759,606|||1,592,702||| |||1,926,985|||1,658,345||| |**Creditors: amounts falling**|||||||| |**due within one year**|13|(123,651|)||(121,607|)|| |**Net current assets**||||1,803,334|||1,536,738| |**Net assets**||||1,964,487|||1,717,317| |**Funds**|14||||||| |Restricted income funds||||149,240|||167,142| |Unrestricted income funds:|||||||| |Unrestricted income funds||||415,247|||350,175| |Development fund||||1,400,000|||1,200,000| |Total unrestricted income funds||||1,815,247|||1,550,175| |**Total funds**||||1,964,487|||1,717,317| The financial statements were approved by the board on 1 July 2025 and signed on its behalf by |**Darren Kirby**|**Caroline Campbell**| |---|---| |**Director**|**Director**| **The notes on pages 15 to 23 form an integral part of these financial statements.** **Page 13** ## **Liberty Consortium (A company limited by guarantee)** ## **Cash flow statement** ## **for the year ended 31 October 2024** ||||**2024**||||**2023**||| |---|---|---|---|---|---|---|---|---|---| ||**Notes**||**£**||||**£**||| |Net incoming resources for the year|||247,170||||268,236||| |Interest payable|||4,820||||5,737||| |Depreciation and impairment|||37,766||||39,830||| |(Increase)/Decrease in debtors|||(101,736|)|||24,594||| |Increase in creditors|||2,376||||8,881||| |**Net cash inflow from operating activities**|||190,396||||347,278||| |Returns on investments and servicing of finance|23||(4,820|)|||(5,737|)|| |Capital expenditure|23||(18,340|)|||-||| |**Increase in cash in the year**|||167,236||||341,541||| |**Reconciliation of net cash flow to movement in net funds**|24||||||||| |**Increase in cash in the year**|||167,236||||341,541||| |**Net funds at 1 November 2023**||1,588,074||||1,246,533|||| |**Net funds at 31 October 2024**||1,755,310||||1,588,074|||| **Page 14** **Liberty Consortium (A company limited by guarantee)** ## **Notes to financial statements for the year ended 31 October 2024** ## **1. Accounting policies** The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year. ## **1.1. Basis of accounting** The financial statements are prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. ## **1.2. Cashflow** ## **1.3. Income** All income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Donations and legacies income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. 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 assets, 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 accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Fundraising costs are those incurred 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 the objects 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 2024** ## **1.5. Tangible fixed assets and depreciation** Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: - Leasehold properties Straight line over the life of the lease - Fixtures, fittings and equipment 15%, 20% and 25% straight line Motor vehicles - 25% straight line ## **1.6. Defined contribution pension schemes** The pension costs charged in the financial statements represent the contribution payable by the charity during the year. ## **2. Donations and legacies** |**Donations and legacies**||| |---|---|---| |**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
Donations
13,823
-
Grants receivable - National Lottery
-
133,878
Grants receivable - DC & SD Council
-
3,081
Grants receivable - DfC
-
69,519
Grants receivable - DfC Jobstart
-
31,961
Grants receivable - WHSCT
-
2,074
Grants receivable - WELB & EA
-
109,438
Other Grants receivable
-
25,825
13,823
375,776|**2024 Unrestricted Restricted**
**Total**
**funds**
**funds**
**£**
**£**
**£**
13,823
5,728
-
133,878
-
142,474
3,081
-
2,976
69,519
-
62,549
31,961
-
-
2,074
-
-
109,438
-
109,695
25,825
-
20,605
389,599
5,728
338,299|**2023**
**Total**
**£**
5,728
142,474
2,976
62,549
-
-
109,695
20,605| |||344,027| |**3.**
**Other trading activities**
**Unrestricted**
**funds**
**£**
Activities for generating funds
929,408
929,408
**4.**
**Other income**
**Unrestricted**
**funds**
**£**
Other income
12,248
12,248|**2024**
**Unrestricted**
**Total**
**funds**
**£**
**£**
929,408
887,578
929,408
887,578
**2024**
**Unrestricted**
**Total**
**funds**
**£**
**£**
12,248
5,000
12,248
5,000|**2023**
**Total**
**£**
887,578| |---|---|---| |||887,578| |||**2023**
**Total**
**£**
5,000| |||5,000| **Page 16** ## **Liberty Consortium (A company limited by guarantee)** ## **Notes to financial statements for the year ended 31 October 2024** ## **5. Net incoming resources for the year** |Net incoming resources is stated after charging:
Depreciation and other amounts written off tangible fixed assets
Auditors' remuneration - Audit and accountancy fees
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Pension costs|**2024**
**£**
37,766
4,360
**2024**
**£**
660,934
55,758
31,623
748,315|**2023**
**£**
39,830
4,160
**2023**
**£**
598,095
49,612
32,257| |---|---|---| |||679,964| ## **6. Employees** 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 basis of full time equivalents, was as follows: |
Management and Administration
Other Staff
Directors / Trustees - Voluntary|**2024**
**Number**

4
26
6
36|**2023**
**Number**
4
24
6| |---|---|---| |||34| ## **6.1. Trustees' emoluments** The trustees did not receive any remuneration in connection with their role as trustees during the year. ## **8. Interest payable and similar charges** ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |Bank fees and charges|4,820|5,737| **Page 17** **Liberty Consortium (A company limited by guarantee)** ## **Notes to financial statements for the year ended 31 October 2024** ## **9. Pension costs** The company operates a defined contribution pension scheme in respect of the eligible employees who join the pension scheme. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and was as follows: Pension charge |**2024**|**2023**| |---|---| |**£**|**£**| |31,623|32,257| ## **10. Taxation** The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts. |**Long**
**Fixtures,**
**Tangible fixed assets**
**leasehold fittings and**
**property**
**equipment**
**£**
**£**
**Cost**
At 1 November 2023
463,156
250,033
Additions
-
18,340
At 31 October 2024
463,156
268,373
**Depreciation**
At 1 November 2023
298,672
233,938
Charge for the year
20,570
17,196
At 31 October 2024
319,242
251,134
**Net book values**
At 31 October 2024
143,914
17,239
At 31 October 2023
164,484
16,095|**Motor**
**vehicles**
**£**
33,020
-
33,020
33,020
-
33,020
-
-|**Total**
**£**
746,209
18,340| |---|---|---| |||764,549| |||565,630
37,766| |||603,396| |||161,153| |||180,579| ## **11. Tangible fixed assets** ## **12. Debtors** |Trade debtors
Amounts owed by group undertakings
Prepayments and accrued income|**2024**
**£**
143,900
7,679
15,800
167,379|**2023**
**£**
49,424
4,164
12,055| |---|---|---| |||65,643| **Page 18** ## **Liberty Consortium (A company limited by guarantee)** ## **Notes to financial statements for the year ended 31 October 2024** |**13.**
**Creditors: amounts falling due**
**within one year**
Bank overdraft
Trade creditors
Other taxes and social security
Other creditors
Accruals and deferred income|**2024**
**£**
4,296
15,715
11,408
5,023
87,209
123,651|**2023**
**£**
4,628
11,793
11,318
4,110
89,758
121,607| |---|---|---| Accruals and Deferred income include £82,267 (2023:£84,850) of restricted grant aid which has been received in advance and which will be recognised as income when the relevant expenditure has been recognised and incurred. ## **14. Analysis of net assets between funds** |**Analysis of net assets between funds**|||||| |---|---|---|---|---|---| ||**Unrestricted**|**Restricted**||**Total**|| ||**funds**|**funds**||**funds**|| ||**£**|**£**||**£**|| |Fund balances at 31 October 2024 as represented by:|||||| |Tangible fixed assets|14,492|146,661||161,153|| |Current assets|1,800,755|126,230||1,926,985|| |Current liabilities|-|(123,651|)|(123,651|)| ||1,815,247|149,240||1,964,487|| |**15.**|**Unrestricted funds**|**At**|||||||**At**| |---|---|---|---|---|---|---|---|---|---| |||**1 November**|**Incoming**|**Outgoing**||||**31**|**October**| |||**2023**|**resources**|**resources**||**Transfers**|||**2024**| |||**£**|**£**|**£**||**£**|||**£**| ||Unrestricted Funds|350,175|955,479|(690,407|)|(200,000|)||415,247| ||Development Fund|1,200,000|-|-||200,000||1,400,000|| |||1,550,175|955,479|(690,407|)|-||1,815,247|| **Page 19** ## **Liberty Consortium (A company limited by guarantee)** ## **Notes to financial statements for the year ended 31 October 2024** |**Restricted funds**|**At**|||||**At**| |---|---|---|---|---|---|---| ||**1 November**|**Incoming**|**Outgoing**||**31**|**October**| ||**2023**|**resources**|**resources**|||**2024**| ||**£**|**£**|**£**|||**£**| |Capital Grants & Capital Donations - Various Funders|167,142|5,323|(23,226|)||149,239| |Department for Communities (DfC) grants|-|69,519|(69,519|)||-| |National Lottery Community Fund grants|-|133,878|(133,878|)||-| |Derry City & Strabane District Council grants|-|3,081|(3,081|)||-| |Other grants|-|163,975|(163,974|)||1| ||167,142|375,776|(393,678|)||149,240| ## **16. Restricted funds** ## **Purposes of restricted funds** Restricted Funding for Capital Expenditure 1) The funding from the Big Lottery Fund "Peoples Millions" programme was provided to cover the capital costs of developing the Green Finger's project. 2) The funding from Derry City Council was provided to assist with the capital costs of installing the sound proofing barrier at the sensory park so as to minimise the impact on neighbouring properties. 3) The grant aid from NI Electricity and BERR, the Department for Business Enterprise & Regulatory Reform, was provided to assist with the costs of installing solar panels. 4) Further capital expenditure on the Greenfingers project was funded by a number of bodies, including Derry City Council and Groundwork NI. 5) Ilex provided funding to cover the 2013 year capital spend on the auditorium. 6) BBC Children in Need provided funding to cover 2014 year capital cost on cinema equipment. A total of £ 7,730 was received during the year with £ 7,151 matched against equipment costs that year and the £579 balance matched against revenue costs, £167 in 2015 & £412 in 2016. The October 2015 accounts include £240 of capital grants received from Children in Need relating to asset additions in the 2015 year. 7) The Enterprise Link Challenge Fund provided capital funding of £ 10,500 in the 2014 year to cover construction of the Treehouse. The 2015 accounts included £ 7,750 of capital grants from the Challenge fund in respect of fixed asset additions that year. 8) The Big Lottery fund provided capital funding of £ 3,606 for IT equipment additions for the Hope project. 9 ) The charity received total grant aid of £ 3,700 from Lloyds trust in the 2014 year. Of the total received £ 401 related to capital costs and the balance was recognised and matched with revenue costs. 10) During the October 2016 year the charity received £6,459 from Greencare, £5,538 from Big Lottery, £500 from DSD and £ 1,092 from DCAL in capital grants to fund asset additions. 11) During the year ended 31 October 2017 the charity received capital grants totalling £ 26,727, including £ 7,700 from Percy Bilton, £9,960 from Aviva, £2,250 from ACT and £1,500 from NIHE. 12) During the year ended 31 October 2018 the charity received capital grants totalling £ 18,979 from a variety of funders, including £ 5,941 from Northside Development Trust, £ 5751 from the Karen Mortlock Fund and £2,815 from Bailey Thomas. In addition the charity received a Donation of £33,020 to cover the cost of purchasing a new minibus for use in the charity's activities. The capital grants and capital donation meant that all asset additions during the year were fully funded. 13) During the year ended 31 October 2019 the charity received capital grants totalling £36,108 from a variety of funders, including £ 12,909 from DM Thomas Foundation, £6,633 from Percy Bilton and £2,157 from the Big Lottery to assist with meeting total asset addition costs of £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 with fixed asset purchases, including £1,197 from the Big lottery, £1,577 from Children In Need, £1,576 from the Rank Foundation and £1,067 from the Arts Council for NI. 15) During the year ended 31 October 2021 the charity received £3,073 of capital grants, including £998 from DfC, £1,621 from BBC CIN and £454 from other funders. 16) The October 2022 accounts included a capital grant of £3,500 received from Danske Bank. **Page 20** ## **Liberty Consortium (A company limited by guarantee)** ## **Notes to financial statements for the year ended 31 October 2024** Restricted Funding for Revenue Expenditure 1) The funding from BBC Children in Need was provided to assist with meeting wages costs. 2) The funding from the DfC is provided to cover salary costs incurred in connection with the management of the Neighbourhood Renewal funded programme. 3) The funding from all other funders is provided to assist with wages and other running costs. The 4 year grant aid from the National Lottery totalling £500,000 to assist with the costs of the Thrift shop started in 2020 and ran until September 2024. The grant aid is recognised in the accounts on an accruals basis and matched with the expenditure to which it relates. Any element of the grant that is received in advance is treated as deferred income at the balance sheet date and is included in creditors, to be recognised as income when the relevant expenditure is incurred. Likewise where expenditure is incurred before the grant is received, then the grant due is recognised as income and the amount owed is included as an asset in the balance sheet. During the October 2024 financial year the charity received £117,472 from the National Lottery under this contract. The 2024 financial statements include grant income recognised from the National Lottery of £133,878 relating to the funded programme together with the relevant matching expenditure. As at 31 October 2024 the balance sheet creditors include a deferred balance of £0 (2023:£16,406) relating to the National Lottery grant which was received in advance, to be recognised as income when the relevant expenditure is incurred. All funding in the accounts is recognised on an accruals basis and matched with the related expenditure. As at 31 October 2024 the balance sheet creditors include total deferred income of £82,267 (2023: £84,850) relating to grants that have been received in advance by the charity, inclusive of the National Lottery advance detailed separately in the notes above. As at 31 October 2024 the balance sheet also includes debtors of £1,170 (2023:£500) relating to grants owed. Other restricted income and donations recognised in the accounts are matched against the related wages and other project costs. ## **17. General commitments** The charity has entered into 2 multi year lease agreements relating to the various units in the Northside Village Centre from which the charity currently operates. The leases run for periods up to 2027, with the charity having a break option upon giving 6 months notice in both 2025 and 2026. The charity is currently committed to paying rental costs of approximately £50,000 under the lease agreements. The £18,000 rental cost relating to the thrift shop unit is a cost that was funded under the 4 year grant aid provided by the National Lottery, which finished in September 2024. ## **18. Contingent liabilities** Grants received could become repayable in the event that the terms and conditions of the letter of offer are not complied with. ## **19. Transactions with trustees** 1) The directors (trustees) are all voluntary and do not receive any remuneration or expenses in connection with their role on the board. **Page 21** **Liberty Consortium (A company limited by guarantee)** ## **Notes to financial statements for the year ended 31 October 2024** ## **20. Related party transactions** 1) The October 2024 income includes £7,860 (2023:£15,115) from Greater Shantallow Area Partnership (GSAP) in connection with the provision of the play facilities to participants of the Extended Schools Programme and various other services. There are no outstanding balances between the two organisations as at 31 October 2024 (2023:£0). The Playtrail facilities are made available to GSAP on the same terms as all other users. Mr Darren Kirby, a director of the charity, is an employee of GSAP, although he has no involvement in the GSAP Extended Schools programme. 2) There has been no donation contributions generated by Liberty Consortium Enterprises CIC, a trading company owned by the charity, during the past 6 years ended 31 October 2024. The constitution of the CIC requires that all surpluses generated by it are donated to the charity. As at 31 October 2024 debtors include £7,679 (2023:£4,164) owed by the CIC. 3) The October 2024 accounts include costs of £0 (2022:£209) invoiced by the Nerve Centre. As at 31 October 2024 there are no outstanding balances between the two organisations. Mr John Peto, a director of the charity, is also the Director of Education at the Nerve Centre. All transactions between the two organisations occur under normal operating terms. 4) The October 2024 accounts include costs of £216 charged by Friends of Ardnashee and income of £200 relating venue hire charged to Friends of Ardnashee. As at 31 October 2024 debtors include the £200 balance owed by Friends of Ardnashee. Mrs Aine Harnett, a director of Liberty Consortium, is also a trustee of Friends of Ardnashee and is employed by Ardnashee School & College. All transactions between the two organisations occur under normal operating terms. ## **21. Controlling interest** The charitable company is controlled collectively by the board of directors. ## **22. Post balance sheet events** The Board also continues to fully consider the points raised in the organisational review report that was completed on the charity by Roe Consultancy in October 2023 and consider the recommendations of that report as they move forward in the new financial year. ## **23. Gross cash flows** |**Returns on investments and servicing of finance**
Bank charges and Interest paid
**Capital expenditure**
Payments to acquire tangible assets|**2024**
**£**
)
(4,820
)
(18,340|**2023**
**£**
)
(5,737
-| |---|---|---| **Page 22** ## **Liberty Consortium (A company limited by guarantee)** ## **Notes to financial statements for the year ended 31 October 2024** ## **24. Analysis of changes in net funds** |**Opening**
**balance**
**£**
Cash at bank and in hand
1,592,702
Overdrafts
)
(4,628
1,588,074
**Net funds**
1,588,074|**Cash**
**Closing**
**flows**
**balance**
**£**
**£**
166,904
1,759,606
332
)
(4,296
167,236
1,755,310
167,236
1,755,310| |---|---| ## **25. Company limited by guarantee** Liberty Consortium is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. ## **26. Limitation of Auditors' Liability** As stated in the letter of engagement dated 01 May 2025 which was signed and approved by the board of directors, the liability of the auditor is limited to the amount of the annual fee. **Page 23** ## **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 2024** |**Income**
_Donations and legacies_
Donations
Grants receivable - National Lottery
Grants receivable - DC & SD Council
Grants receivable - DfC
Grants receivable - DfC Jobstart
Grants receivable - WHSCT
Grants receivable - WELB & EA
Other Grants receivable
**Activities for generating funds**
**Total income from generating funds**
**Other income**
Other income
**Total income**
**Expenditure**
**Costs of generating funds:**
Wages & Salaries - Grants Aided
Employer's NIC - Grant Aided
Grants - Staff - Pension costs
Depreciation & impairment - Grant Aided|**2024**
**£**
**£**
13,823
133,878
3,081
69,519
31,961
2,074
109,438
25,825
389,599
929,408
929,408
1,319,007
12,248
12,248
1,331,255
660,934
55,758
31,623
23,226
771,541|**2023**
**£**
**£**
5,728
142,474
2,976
62,549
-
-
109,695
20,605
344,027
887,578
887,578
1,231,605
5,000
5,000
1,236,605
598,095
49,612
32,257
27,914
707,878|**2023**
**£**
**£**
5,728
142,474
2,976
62,549
-
-
109,695
20,605
344,027
887,578
887,578
1,231,605
5,000
5,000
1,236,605
598,095
49,612
32,257
27,914
707,878| |---|---|---|---| ||||707,878| **Page 25** ## **Liberty Consortium (A company limited by guarantee)** ## **Detailed statement of financial activities** ## **For the year ended 31 October 2024** |**_Support costs_**
Rent
Rates and water
Light and heat
Repairs and maintenance
Premises security costs
Insurance
Support - Establishment - Uniforms
Motor and travel costs
Motor vehicle costs
Staff training
Subscriptions and memberships
Telephone and internet
Printing, post and stationery
Computer costs
Advertising and promotion
Depreciation and impairment
Other support costs
Donations
Provision for bad and doubtful debts
**Total cost of generating voluntary income**
**Other operating costs**
**Project and Activity costs**
**Fundraising costs**
**al costs of generating funds**|54,200
2,479
9,245
45,511
1,598
11,665
1,139
1,996
2,275
4,905
1,914
7,988
3,135
2,829
30
14,540
25,102
1,000
65
191,616
963,157
108,405
268
108,673
1,071,830|54,600
3,298
8,229
19,301
486
11,467
859
3,001
3,674
4,056
1,747
6,670
3,842
1,663
1,238
11,916
22,777
77
110
81,520
-|159,011| |---|---|---|---| ||||866,889| ||||81,520| ||||948,409| ## **Total costs of generating funds** **Page 26** ## **Liberty Consortium (A company limited by guarantee)** ## **Detailed statement of financial activities** ## **For the year ended 31 October 2024** |Office expenses - Other
**_Support costs_**
Audit and accountancy fees
Support - Professional - Other
Bank interest and charges
**Total other costs**
**Net income/(expenditure) for the year**|**2024**
**£**
-
-
4,360
3,075
4,820
12,255
12,255
247,170|**2023**
**£**
)
(1
)
(1
4,160
10,064
5,737
19,961
19,960
268,236| |---|---|---| **Page 27**