Company registration number.. N1682143 Charity registration number.. 109625 Live Life Social Enterprises Limited (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 September 2024
Live Life Social Enterprises Limited Contents Reference and Administrative Details Trustees, Report 2to5 Independent Examiner's Report 6t07 Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10t018
Live Life Social Enterprises Limited Reference and Administrative Details Trustees Rev. Lynda Kane, (Chairperson) Dr Heather Anderson Mrs Martina Rydout Philip Reain-Adair Rev. Dr. Stanley Gamble Philip Reain-Adair Secretary Charity Registration Number 109625 HMRC Charity Number 01321 Company Registration Number N1682143 The charity is incorporated in Northem Ireland. Sarah Crothers Hall la Beechland Drive Lisbum BT28 1HR Registered Office Independent Examiner RBCA Limited Chartered Accountants Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG Solicitors: Edwards & Co 28 Hill St Belfast BT12LA Bankers Ulster Bank (Nl) 11-16 Donegall Square East Belfast BT15HD Page 1
Live Life Social Enterprises Limited Trustees. Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 30 September 2024. Trustees and officers The trustees and officers serving during the year and Sin the year end are listed on page 1. Objectives and activities The Company's primary objective is to achieve social andlor environmental benefit. The Objects are specifically restricted to the advancement of education, the promotion of social inclusion, the promotion, preservation, protection and safeguarding of mental and physical wellbeing of children,young people and adults with learning disabilities and to provide or assist in the provision of facilities in the interests of social welfare with the objective of improving education. Strate for Delive Our strategic plan focuses on the following themes.. 1. Education and Learning 2. Physical and Mental Well-Being 3. Employability Skills 4. Social and Recreational Activities Vision To empower our participants to have enriched and fulfilled lives, through being active contributors and valued members of their local community. Social Mission Statement To maximise each participant's individual strengths and interests to equip them with the skills and opportunities to achieve their full potential. through providing an innovative community inclusion and Social Enterprise progression programme. Value Statements Integrity Be outstanding Provide fulfilment Inte Our conviction and integrity guide what we do and how we do it, every day. We do the right thing, in the best interests of each participant. . We do what we say we will do, we are worthy of trust. . We act with courage, we will be advocates for our participants. Page 2
Live Life Social Enterprises Limited Trustees. Report Be outstandin We are committed to providing an excellent service to all people and organisations who are involved with the centre. We have to evolve to best serve the needs of our participants. Through the delivery of an ambitious seNice we will be relevant today and we will stay one step ahead and be ready for tomorrow. Our commitments" Ensure our service is consistently eXlIent. Continuously strive for improve. . Worfr in partnership with other agencies and the community. . Achieve and maintsin excellent inspection reports. Represent value for money. Provide fulfilment throu erson-centre lannin Instilling positive well-being is central to our work. Well-being is feeling good and functioning well. We need both of these to be fulfilled to enjoy a positive experience of life. We will create holistic opportunities for our participants to= Connect with people and the wodd around them. Be active through leading a motivated, healthy life. Progress learning through maintaining current skills and learning new skills. . Make a meaningfijl contribution and be valued members of their local community. Public benefit The public benefit of the charity is to advan education, develop capacity and skills of individuals aged 16 and over with severe learning disabilities and in particular.. (al to provide, or assist in the provision of programmes of education, including vocational training to assist the beneficiaries to enhan their capabilities, competences, skills and understanding,. (b} to establish community-owned-business projects promoted by the organisation to create training and employment opportunities for the beneficiaries in the area of benefit- (c} to provide programmes and services that improve beneficiaries physical and mental well-being., (dl to provide opportunities for social inclusion to assist the beneficiaries to enhance their Independen skills, social and communication skills. The public benefit flowing from the second purpose will entail improvement of the quality of life of the beneficiaries and increase of their awareness and abilities. (e} to provide or assist in the provision of facilities and services primarily for the benefit of the community and visitors to and the residents of Greater Lisbum and surrounding areas for recreational, sporting or other leisure time occupation in the interests of social welfare, such facilities being provided to the public at large save that special facilities may be provided for persons who by reason of their youth, age infirmity or disability, povety or social or economic circumstances may have need of special facilities and Servi$. (fj to advance amateur sport by maintsining multi-use games facilities. In shaping the strategy and objectives of Live Life the Trustees have taken into account the Charity Commission Nl guidance on public benefit including the commissions Public Benefit Reporting Document and confirm that they have complied with the requirements of section 4 of the Charities Act (Northern Ireland) 2008. Page 3
Live Life Social Enterprises Limited Trustees. Report Achievements and perfomiance Live Life Social Enterprises TIA Live Life Well-Being Centre and Social Enterprises is an award-winning charitable organisation and company limited by guarantee, that provides high quality day opportunities for young adults with severe learning difficulties. The service was established in September 2021 to provide a meaningful day opportunities provision in the Greater Lisburn area. In this reporting periodto 30th September 2024 we continued to deliver our range of ServIS providing opportunity for people with disabilities to advan education and learning, improve physical and mental well-being, develop employability skills and to progress personal development skills through social and recreational activities. Her Royal Highness the Duchess of Gloucester visited our organisation on 13 September. It was an honour to mark our day opportunities service's third birthday, with such a special visitor. Ke Achievements Awarded All Ireland Winner of the IPB Pride of Pla Awards for Community Well-Being in November 2023 20 Participants enjoyed a 5-day residential trip to Spain May 2024 Secured 25-year lease of the Grove Activity Centre in June 2024 Secured 50-year lease of the Sarah Crothers Hall in September 2024 . Achieved the completion of our Pocket Forest Blo1versIty Project in August 2024 Her Royal Highness the Duchess of GIOuster visited our organisation on 13 September 2024. Our ServIS and social enterprises at LNe Life during the reporting period occurred at the following locations" Sarah Crothers Hall Grove Activity Centre . Community Allotments at Ballymacash Sport Academy Social Enterprise Shop at Lisbum Square Financial review The results for the year are set out on page 8. Net movement in funds was surplus of £90,682 for the year compared to surplus of £24,981 for the previous year. This included a surplus of £100,600 in relation to restricted funds. At the year end the balances of restricted and unrestricted funds held were £100,600 (2023: £nil) and £27,234 (2023. £37,152) respectively. Structure, governance and management Live Life Social Enterprises Limited is a chantable company, limited by guarantee and incorporated on 6 September 2021, and was fomally granted charitable status on 17 May 2023. The company was established under a Memorandum and Articles of Association which established the objects and powers of the charitable company and is govemed by these articles. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. Recruitment and appointment of trustees The make-up of the board is reviewed on a regular basis to ensure skills, knowledge and experience meets the needs of the charitable company. Directors are appointed by election of the members of the company in accordance with the memorandum and articles of association. Page 4
Live Life Social Enterprises Limited Trustees. Report Statement of trustees. responsibilities The trustees (who are also the directors of Live Life Social Enterprises Limited for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting practi), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of reSoUrs. including its 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 apply them consistently- observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the charitsble company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006and Charities Act (Northern Ireland) 2008. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detects.on of fraud and other irregularities. The trustees are responsible for the rna1ntenan and integrity of the corporate and financial information included on the charitable company's website. Legislation goveming the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions. Small companies provision statement This report has been prepared in accordan with the small companies regime under the Companies Act 2006. The annual report was approved by the trustees of the charity on behalf by= 21 Apr 2025 and signed on its Philip Reain-Adair Company secretary and trustee Page 5
Live Life Social Enterprises Limited Independent Examiner's Report to the trustees of Live Life Social Enterprises Limited ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 September 2024. Responsibilities and basis of report As the charity's trustees of Live Life Social Enterprises Limited (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Act 2006 ('the 2006 Act.). Having satisfied myself that the accounts of Live Life Social Enterprises Limited are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 65 of the Charities Act (Northern Ireland) 2008 {'the 2008 Act'}. In carrying out my examination I have followed the Directions given by the Charity Commission for Northem Ireland under section 65{9)(b) of the 2008 Act. An independent examination does not involve gathering all the eviden that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. ConsequenUy l express no opinion as to whether the accounts present a 'true and fairf view and my report is limited to those specific matters set out in the independent examinerfs statement. Basis of independent examiner's report My examination was carried out in accordan with the general directions given by the Charity Commission for Northern Ireland under section 65(9){b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees conceming any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe.. 1. That accounting records were not kept in accordan with section 386 of the Companies Act 2006; 2. That the accounts do not accord with those accounting records; 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practi applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland, and 4. That there is further infomation needed for a proper understanding of the accounts to be reached. Page 6
Live Life Social Enterprises Limited Independent Examiner's Report to the trustees of Live Life Social Enterprises Limited ('the Company.) Independent examiner's statement I have completed my examination and have no conM5 in respect of the matters {1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northem Ireland, I have found no matters that require drawing to your attention. S4 Brian Stewart RBCA Limited Chartered Accountsnts Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG 21 Apr 2025 Date:............................. Page 7
Live Life Social Enterprises Limited Statement of Financial Activities for the Year Ended 30 September 2024 {Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2023 £IAs restated) Unrestricted funds Restricted funds Total 2024 Note Income and Endowments from: Donations and legacies Charitable activities Investment income Other income 29.944 60.388 587 3,445 100,600 130,544 60,388 587 3,445 67,558 38,760 2,937 Total income 94,364 100,600 194,964 109,255 Expenditure on: Charitable activities 104,282) {104,282) 84,274) Total expenditure 104,282) {104,2821 84,274) Net {expenditure)lincome {9,918) 100,600 90,682 24,981 Net movement in fijnds (9,918) 100,600 90,682 24,981 Reconciliation of funds Total funds brought forward 37,152 37,152 12,171 Total funds carried forward 15 27,234 100,600 127,834 37,152 All of the charity's activities derive from continuing operations during the above periods. The funds breakdown for 2023 is shown in note 15. The notes on pages 10 to 18 fomi an integral part of these financial statements. Page 8
Live Life Social Enterprises Limited (Registration number: N1682143) Balance Sheet as at 30 September 2024 2023 £IAs restated) 2024 Note Fixed assets Tangible assets 20,200 26,300 Current assets Debtors Cash at bank and in hand 12 6,542 8,637 160,796 160,796 15,179 Creditors: Amounts falling due within one year 13 (53,162) {4,327) Net current assets 107,634 10,852 Net assets 127,834 37,152 Funds of the charity: Restricted income funds Restricted funds 100,600 Unrestricted income funds Unrestricted funds 27,234 37,152 Total funds 15 127,834 37,152 For the financial year ending 30 September 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities= The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476., and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. ancial statements on pages 8 to 18 were approved by the trustees, and authorised for issue on and signed on their behalf by.. Philip Reain-Adair Company secretary and trustee The notes on pages 10 to 18 fomi an integral part of these financial statements. Page 9
Live Life Social Enterprises Limited Notes to the Financial Statements for the Year Ended 30 September 2024 1 Charity status The charity is limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exedIng £1 towards the assets of the charity in the event of liquidation. The address of its registered office is- Sarah Crothers Hall la Beechland Drive Lisburn BT28 1HR 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance The financial statements have been prepared in accordan with Accounting and Reporting by Charities= Statement of Recommended practi (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)} (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Live Life Social Enterprises Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The presentational currency is £ sterling and the level of rounding is to the nearest £. Going concern The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of UnrtaInty that affect the carrying value of assets held by the charity. Exemption from preparing a cash flow statement The charity does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A. Page 10
Live Life Social Enterprises Limited Notes to the Financial Statements for the Year Ended 30 September 2024 Income and endowments All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy and it is probable that the income will be received. All incoming resources arose wholly in the United Kingdom. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Investment income is earned through holding assets for investment purposes such as shares. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity's right to receive payment is established. Income from government and other grants are recognised at fair value and when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Investment income Dividends are recognised On the dividend has been dedared and notification has been received of the dividend due. Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. The majority of costs are directly attributable to specific activities. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. Support costs are those that assist the work of the charity but do not directly represent charitable activities and include Offi costs and g0Veman costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on the basis of the time spent on those activities. Governance costs include those incurred in the govemance of its assets which are associated with constitutional and statutory requirements. Tangible fixed assets Tangible fixed assets are stated at cost less depreciation. Page11
Live Life Social Enterprises Limited Notes to the Financial Statements for the Year Ended 30 September 2024 Depreciation and amortisation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows- Motor vehicles 20°/0 Straight line Borrowings Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference beeen the proceeds, net of transaction costs. and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund structure The charity has different types of funds for which it is responsible, and which require separate disclosure. These are as follows.. Unrestricted funds. Funds which are expendable at the discretion of the Directors in the furtherance of the objectives of the charity- In addition the funds may be held in order to finan capital investment and working capital. Restricted funds. Donations and grants reiVed which are earmarked by the donor or fijnder for specific purpose. Such purposes are within the overall aims of the organisation. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Page 12
Live Life Social Enterprises Limited Notes to the Financial Statements for the Year Ended 30 September 2024 Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Debtors Short term debtors are measured at transaction pri (which is usually the invoice price}, less any impairment losses for bad and doubtrul debts. Loans and other financial assets are initially recognised at transaction pri including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubttul debts. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction pri net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. 3 Income from donations and legacies Unrestricted funds Restricted Total Total 2023 £IAs restated) General funds 2024 Donations and legacies., Donations Grants, including capital grants., Grants 13,641 13,641 7,253 16.303 100,600 116,903 60,305 29,944 100,600 130,544 67,558 Page 13
Live Life Social Enterprises Limited Notes to the Financial Statements for the Year Ended 30 September 2024 4 Income from charitable activities Unrestricted funds General Total funds 60,388 60,388 Total for 2024 60,388 60,388 Total for 2023 38,760 38,760 S Investment income Unrestricted funds General Total 2024 Interest receivable and similar income- Interest re1vable on bank deposits 587 587 587 587 6 Other income Unrestricted funds General Total funds Rental income 3,445 3,445 Total for 2024 3,445 3,445 Total for 2023 2,937 2,937 7 Expenditure on charitable activities Unrestricted funds Total Total 2023 £IAs restated) 83,574 700 General 2024 Note Charitable activities Governan costs 102,842 1.440 102,842 1,440 104,282 104,282 84,274 Page 14
Live Life Social Enterprises Limited Notes to the Financial Statements for the Year Ended 30 September 2024 8 Trustees remuneration and expenses No trustees, nor any persons connected with them. have received any remuneration from the charity during the year. 9 Staff costs There was no employees in the year (2023= £nil). Page 15
Live Life Social Enterprises Limited Notes to the Financial Statements for the Year Ended 30 September 2024 10 Taxation The charity is a registered charity and is therefore exempt from taxation. 11 Tangible fixed assets Motor vehicles Total Cost At 1 October 2023 30,500 30,500 At 30 September 2024 30,500 30,500 Depreciation At 1 October 2023 Charge for the year 4,200 6,100 4,200 6,100 At 30 September 2024 10,300 10,300 Net book value At 30 September 2024 20,200 20,200 At 30 September 2023 26,300 26,300 12 Debtors 2024 2023 Accrued income 6,542 13 Creditors: amounts falling due within one year 2023 £IAs restated) 2024 Other loans other creditors Accruals 50,000 1,442 1,720 2,402 1,925 4,327 53,162 14 Share capital The charity is a company limited by guarantee and does not have share capital. Page 16
Live Life Social Enterprises Limited Notes to the Financial Statements for the Year Ended 30 September 2024 15 Funds Balance at 30 September 2024 Balance at 1 October 2023 Incoming resources Resources expended Unrestricted funds General Unrestricted fund 37,152 94,364 (104,282) 27,234 Restricted funds Live Life Project 100,600 100,600 Totsl funds 37,152 194,964 1104,2821 127,834 Balance at 30 September 2023 £(As restated) Balance at 1 October 2022 Incoming resources Resources expended Transfers Unrestricted funds General Unrestricted fund 12,171 89,255 (84,274) 20,000 37,152 Restricted Capital grant 20,000 (20,000) Total funds 12.171 109.255 (84.274) 37,152 The specific purposes for which the funds are to be applied are as follows". Live Life project Funding received from Secretary of State for Levelling Up, Housing and Communities is restricted to the project Live Life @ The Grove Activity Centre. Prior year adjustment This is the first year that the financial ststements are prepared in accordance with the Charity SORP. The prior year adjustment relates to the recognition of a grant in accordan with the charity SORP. Page 17
Live Life Social Enterprises Limited Notes to the Financial Statements for the Year Ended 30 September 2024 16 Analysis of net assets between funds Total funds at30 September 2024 Unrestricted funds General Restricted funds Tangible fixed assets Current assets Current liabilities 20,200 60,196 53,162 20,200 160,796 53,162 100,600 Total net assets 27,234 100,600 127,834 Total funds at30 September 2023 Unrestricted funds General Tangible fixed assets Current assets Current liabilities 26,300 15,179 4.327 26,300 15,179 4,327 Total net assets 37,152 37,152 17 Related party transactions During the year the charity made the following related party transactions: SEN HR Services Ltd (The trustee is a director of the SEN HR Sepiices Ltd) Income includes £43,726 from SEN HR servIs Ltd (2023.. £25,152). Included in creditors is a loan from SEN HR servIs Ltd. At the balan sheet date the amount due to SEN HR servIs Ltd was £50,000 (2023 - £Nil). Page 18