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REGISTERED COMPANY NUMBER: 03525955 (England and Wales)
REGISTERED CHARITY NUMBER: 1073291














Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Independence Initiative Limited

Independence Initiative Limited






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Report of the Trustees 1 to 8

Independent Examiner's Report 9

Statement of Financial Activities 10

Balance Sheet 11 to 12

Notes to the Financial Statements 13 to 20

Independence Initiative Limited (Registered number: 03525955)

Report of the Trustees
for the Year Ended 31 March 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The Aims and Objects of the Charity are:

- To promote social inclusion for the public benefit by preventing people from being socially excluded by relieving their needs and assisting them to integrate into society.

- The relief of poverty, the physical and mental sickness and distress of persons in need by reason of addiction to drugs, alcohol and other similar substances and their families, in particular (but without prejudice to the generality of the foregoing) by the provision services designed to facilitate the long term rehabilitation of such persons and the provision of support to their families.

- The prevention of dependence on drugs, alcohol and other similar substances.

- The education and training of the public regarding the dangers of drugs, alcohol and other similar substances and constructive means of dealing with such dangers.

The charity's definition of 'socially excluded' means being excluded from society, or parts of society, as a result of one of more of the following factors: substance abuse or dependency including alcohol and drugs; ill health (physical or mental); relationship and family breakdown; domestic violence; unemployment; financial hardship; poor housing (that is housing that does not meet basic habitable standards; crime (either as a victim of crime or as an offender rehabilitating into society).

Significant activities
Historically, the unique selling point of the organisation has been the one-to-one nature of support we have provided to people experiencing substance misuse problems. Highly personalised support over a period has included crisis support, access to psychosocial interventions and creative methods of engagement designed to build confidence and self-esteem as a foundation for more effective recovery. This has been broadened to people leaving secure estates that can become residents of our transitional housing project "The Key". People are referred to us from local prisons, other key agencies, probation services, and GP's. Each person is assessed, and an individual action plan is negotiated with them that meets their short, medium and long-term aspirations. However, our activities have evolved, and our one-to-one model of support is now supplemented with small group work with our residents and other community members. We continue to grow and develop our wider role in the community through which we are involving and supporting people facing social exclusion and isolation.

The Key, our transitional housing service based at our Balliol Road site and in our houses in the community, has been continued during this year. We remain a significant provider of transitional housing for people experiencing substance misuse problems combined with other chronic issues. So, we provide stable housing and intensive support for people experiencing difficult combinations of drug and alcohol use, offending histories, mental ill-health, homelessness, and long-term physical health conditions. During this financial year however, the number of beds available was reduced from 25 to 20. We have housed 30 people during 2022/23.

"The Indy Pantry", our community membership scheme that allows people to get great value for money on a weekly shop for food and other essential goods, has grown significantly in terms of membership and weekly visitors. From 300 to 530 members, and an average of 75 visits per week.

Independence Initiative has continued to work much more closely with the local community, delivering on several "Micro Projects" such as gardening, canoeing, football, canal cleanups, and delivering courses in Digital Skills, Numeracy, Employment, Art & Crafts, and others too.


Independence Initiative Limited (Registered number: 03525955)

Report of the Trustees
for the Year Ended 31 March 2023


OBJECTIVES AND ACTIVITIES
Public benefit
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

The public benefits we deliver through both the Key and our wider projects are:

- reductions in the risk of homelessness, the risks of crime and the fear of crime
- reducing the costs to society of criminality
- improving the levels of physical and mental health (including substance misuse), reduce emergency attendances at A&E and the number of in-patient nights
- helping reduce the impact of addiction on children, families and the wider community and motivate clients to develop the skills required to improve their options in the labour market.

Significantly during this year we have helped reduce food poverty, and have supported our community with regard to the national cost of living crisis.


Independence Initiative Limited (Registered number: 03525955)

Report of the Trustees
for the Year Ended 31 March 2023

ACHIEVEMENT AND PERFORMANCE
Operating Highlights
During 2022/23 we continued with our transitional housing, and we managed to maintain a level of support that assisted our residents throughout the year. Part way through the year we reduced the number of beds we offer from 25 to 20. Moving forward we have identified several new agencies who are keen to work with us in finding effective housing for local people who are often at risk of homelessness and in need of wraparound psychosocial support. We have continued to offer people personal support, facilitated access to local health, advice, and other welfare services, encouraged the re-development of connections with families (where appropriate), facilitated positive group activities such as gardening and maintenance projects and supported access to learning and employability programmes. This continued throughout the year.

To provide examples of the kind of challenges that our beneficiaries face and the ways in which we discharge our public benefit and pursue our charitable aims, we set out (below) two case studies from people we have supported during the year.

Male age 36
I have been struggling for many years with my mental health, since I was a young child. I was labelled as naughty and excluded and put in a unit away from my family and quickly progressed into local authority care drug use and chaos.

I have been on tour of young offenders and prison population since then. My drug use initially eased my mental health and pain of being removed from family into care. Anger is also an issue, I hate authority and institutions and it's all I've known. I kick against it which is part of my problem.

I'm schizophrenic and haven't spent much time outside prison in my adult life. I usually get recalled to prison the longest I've stayed out has been five weeks.

My probation officer suggested meeting with staff and visiting The Key whilst I was in approved premises. I don't like change and hate meeting new people so I was hesitant. Initially I had a couple of phone calls which helped break the ice and made me feel comfortable as I was able to ask questions and feel like I was more in control of the move.

I progressed to a visit and had a tour and met the staff and didn't feel pressured into making decisions which really helped me. It was explained to me the changes I would need to make (I was using heroin and not prescribed methadone).

I really wanted a place at The Key and wanted to change , I knew the place for that to happen was The Key.

This is the first place that has actually "seen me". The seemed to have reached inside to the young boy that I was once. They have encouraged me to look at not just my mental health but physical health which I've neglected and my drug use and offending, everything I've always ran away from and blocked.

I'm 20 stone plus, they were worried about my heart and lungs, and made an appointment with GP for full MOT I didn't pass, but the fact that I went (with their help is huge ) they have come with me to the follow up appointments.

This place isn't just about offending and drug use it's about everything and that's what makes it different here. I have enrolled on the in-house eating healthy on a budget and the digital inclusion course. This is massive as I usually shy away from new people and structured activity.

My anger is still an issue but I'm realising the triggers and attempting to put strategies in place for when I'm frustrated. I'm also trying to gain the confidence to attend an anger management course but working one-to-one with my key worker here on it. My relationship with family is improving but there is a long way to go yet. This is the longest I have stayed out of prison in my adult life.

My probation licence expires in May 2022 and I never believed I would be able to to this. The Key has given me a safe space to think about and create changes and also realise the person I am and also what I can be, it's given me not just the hope that change is possible but that it's also realistic and achievable.

Before I moved into The Key I felt like a spider in the bath, I just couldn't get out and kept going down the plug hole; now I feel like there is a way out of the bath and I feel hopefully for the first time in years, all thanks to The Key!



Independence Initiative Limited (Registered number: 03525955)

Report of the Trustees
for the Year Ended 31 March 2023

Male age 41

By my age you would like to think I would have home, family , career. I haven't. My substance misuse started early experimental with brother and friends and led to intense weekend bouts but I always managed to keep employment. Four close deaths , my dad, my brother (murdered) my mum and Nan combined to trigger a downwards spiral, my mental health, substance misuse and criminality all got out of control quite quickly.

I have spent the last ten years hopeless and out of control. I have not spent four months out of prison in this time. I felt that I had no reason to rehabilitate, did not have a connection on the outside , no support , no life skills to survive.

I was discharged from prison at the height of the Covid pandemic and was frightened which made my mental health and anxiety worse. I secured a place at independence initiative through my prolific offender manager at the police and probation officer. It was hard meeting new networks of people and moving to a new area so I had high levels of personal anxiety , fear of relapse, the pandemic and isolation which was leading to lots of personal conflict.

The package of support is really intense, we are encouraged to connect with ourselves and others and are allocated an individual support worker to help with goals and any obstacles you may have.

I have no digital skills at all and this created a problem for my with benefits and during pandemic this is essential due to lockdown. I also am on a limited budget , so I can't afford a smartphone. The Indy have provided training for me and a tablet which allows me to connect to the staff and others in the community via the apps.

The property I'm in also has WiFi which has also unlocked other benefits , I don't feel as vulnerable or as socially isolated. I have managed to meet all of my probation appointments remotely through this device which has stopped any prison recalls. I have also managed to connect to mutual aid support groups from home something I've never had the confidence to do physically, this has also helped my recovery.

I take the lead in the community by helping staff deliver the weekly food parcels they provide. I have personally benefited from this. Shopping is a skill; I would not know what to buy and I get overwhelmed in supermarkets. These hampers consist of dry, dairy and frozen goods which have given me a good framework of a shopping basket that I will be able to replicate, helping me to become more independent. It has also helped with my anxiety, as I don't like shopping especially during a pandemic and the restrictions in place. I think if I would have been pushed into that arena, I wouldn't have been able to manage my mood and anxiety and it would have come across as aggression, any violent incidents would lead to prison recall - so I'm grateful of this service provision at the Indy.

I have also benefited greatly from the "walk talks " with my key worker this has helped my depression and anxiety as we have daily planned routes that have helped me get through the recent lockdown. I also feel much more at ease and relaxed during these walks and can talk easier about difficulties I'm experiencing instead of in an office-based situation, which I associate with authority and control. I replicate these walks of a weekend and it has really help reduce my anxiety and I feel more confident as the routes have been walked and navigated safely.

I am now a senior peer at the organisation, and lead on a lot of projects involving the other residents, I would never believe that this would be possible under normal circumstances, never mind a pandemic. I am also now settled in this community, with much reduced anxiety levels, I think this is in part due to the one-to-one support sessions I receive. I feel valued and listened to and most of all respected. I am seen as an individual rather than an offender or person with substance problems and mental health issues. I have started my own journey exploring my own mental health and can see the triggers and ques the links which lead to my offending and accelerated substance misuse. Today with this support I don't have to self-medicate, I've been given the skills and tools to develop alternative coping strategies. I have been out of prison now for 11months a milestone I never thought I'd be able to achieve.


"The Indy Pantry proved to be an amazing resource for our community this year, with over 3,100 visits! A real success story but for the wrong reasons"


Independence Initiative Limited (Registered number: 03525955)

Report of the Trustees
for the Year Ended 31 March 2023


ACHIEVEMENT AND PERFORMANCE
Fundraising activities
At the start of 2022/23 we implemented an updated funding strategy that included grant applications for The Key properties, the Pantry, and grant/trust funding.

During this financial year we continued to receive income from the National Lottery Reaching Communities Fund (£67.5k), and from Lloyds Bank Foundation (£27.5k)

Other significant grant funding included:

- Our contract with VOLA to deliver Digital Inclusion skills to residents of Sefton as part of the IT-Mersey contract continued. This contract was worth £28.7k during 2022/23
- We continued to receive funding from the Workers Educational Authority (WEA) that was worth £7.8k
- We received funding from WEA for Numeracy worth £11k.
- We received a 2-year grant from Nationwide Community Foundation for £41.7k
- We received funding from the Government to provide a KICKSTART placement for £6.5k
- We received anonymous donations worth £2k

We also managed to receive a large number of other grants that are listed below:

Regenerus£980 Environmental improvements
Council Tax Rebate£750Support with energy costs
Room Hire£390 Use of our facilities
Sefton Mayoral Fund £300Delivery of specialist interventions
Sefton In Mind£5,298 Delivery of specialist interventions
Awards for All - National Lottery£9,327 Delivery of specialist interventions
Warm Hub (Sefton CVS)£3,914Delivery of specialist interventions
Winter Clothing (Sefton CVS)£4,000 Delivery of specialist interventions
Stewardship (Warm Hub)£1,000Delivery of specialist interventions

We received several grants and donations towards the running costs of our community Pantry "Indy Pantry" totalling £9.8k as follows:

Hugh Baird College£994
Groundwork (One Stop)£1,000
ASDA£1,500
Cup of Tea (Anonymous)£500
Epic Kidz£500
Feeding Liverpool£4,293
Neighbourly£1,000

Our grant funding strategy looking forward focuses on providing additional and enriching activities for our residents as well as continuing to respond to the needs of the wider community across North Merseyside to engage people facing some of the same complex and multi-faceted challenges as our residents.

The charity Choose Life continues to operate from and provide services at the Balliol Road premises and we continue to offer space for local groups from the wider community.

FINANCIAL REVIEW
Reserves policy
As an organisation with ever-increasing demand for its services, the Board of Trustees believes that the Charity should be able to maintain free (unrestricted) reserves within a range that equates to between 3 and 6 months of operating costs for the organisation. These reserves should be held in cash or easily realisable form. This position is currently being achieved but is regularly monitored.


Independence Initiative Limited (Registered number: 03525955)

Report of the Trustees
for the Year Ended 31 March 2023

LOOKING AHEAD
Ongoing strategic plans have been considered throughout the year, and we continue to focus activities and plans on our transitional housing project, aiming to grow our occupancy levels over the next 12 months. We also continue to work alongside One Vision Housing as they provide fast-track access to suitable social housing for residents leaving our accommodation.

The community pantry (The Indy Pantry) has proved to be very popular with members of the local community and will continue to enhance our premises as a community hub. Over the past year the weekly average number of member visits have risen from 30 to 90 per week, clearly demonstrating the need for such a service.

We believe we have developed a reputation with funders for effective project delivery and hope to build on this over time. Continued and ongoing investment in grassroots community work is seen as essential, alongside the development of potential partnerships across a range of themes and priorities.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
The original trustees were board members of Bootle Maritime City Challenge, the original fund provider. They came a steering group, and when the organisation became a Charity, they became the founding members and trustees. In 1998 Independence Initiative became the successor body.

Gaps in the skills required were identified, and individuals were recruited to fill the vacancies. All trustees submit themselves to re-election every three years. As individuals resigned replacements were recruited through advertising and networks to reflect the changing needs of the organisation.

All trustees are given induction into the work of the organisation and the duties of trustees. Developmental publications, recommended by the Charity Commission, are distributed to all trustees that are specific to the roles of chair and trustee. Trustees benefit from peer learning opportunities as many of them have vast experience elsewhere on other committees and boards in the voluntary sector, and also in statutory and business settings.

The trustees are appointed by the members of the company and one third of the trustees normally retires by rotation each year and are eligible for re-election at the Annual General Meeting.

Organisational structure
The Independence Initiative is governed by its board of trustees, who are also Directors for the purposes of company law. The trustees are responsible for setting the strategic direction of the organisation and for establishing policy. The Board aims to meet four times a year. The Board delegates the management of the organisation to the Chief Executive, who in turn leads a staff team with specific areas of responsibility.

Induction and training of new trustees
New trustees receive information packs about the charity showing the previous year's financial statements, various officer's reports, business plans and organisational structure. Newly appointed trustees gain experience by attending various trustee meetings.

Strategy Sub Group
During the year a sub-group met on a regular basis to analyse financial and strategic issues in detail to clarify them for consideration and final approval by the Board.

Related parties
No transactions occurred during the year with related parties.


Independence Initiative Limited (Registered number: 03525955)

Report of the Trustees
for the Year Ended 31 March 2023


STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Trustees have assessed the major strategic, business and operational risks to which the Charity is exposed and are satisfied that systems have been established to mitigate our exposure to major risks.

Further to this, the Trustees have in place the appropriate insurance policies, including Trustees Indemnity Insurance. The Charity maintains a contingency to meet most situations including closure costs should this be required.

Regular Health and Safety and Risk Assessments are carried out and reviewed as required. All clients, staff and visitors are required to sign in and out of the building to ensure known numbers are in the building. Internal risk is assessed with all staff members.

A part of the building contains a "Safe Store" which contains all valuable items and is kept locked. All items of equipment and materials are signed out of the store and in again after use.

PAT Testing is carried out by an authorised person on an annual basis.

Mobile phones are provided for all staff and Managers are on-call 24 hours a day 7 days a week to support staff in the Key.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03525955 (England and Wales)

Registered Charity number
1073291

Registered office
64-68 Balliol Road
Bootle
Merseyside
L20 7EJ

Trustees
Nigel Edmund Bellamy
William John Bowley (resigned 1.4.22)
Barry Canning Eaton
Stuart Anton Creak
Amanda Lewtas (resigned 10.9.22)
Simon Morris CHAIR
Fiona Jean Smith
Jon Wild
Sharon McGuiness (appointed 10.10.22)

Independent Examiner
V & R Accountancy Services
Chartered Certified Accountants
Cropton House
Three Tuns Lane
Formby
Merseyside
L37 4AQ


Independence Initiative Limited (Registered number: 03525955)

Report of the Trustees
for the Year Ended 31 March 2023


REFERENCE AND ADMINISTRATIVE DETAILS
Solicitors
Brabners LLP
Horton House
Exchange Flags
Liverpool
L2 3YL

Approved by order of the board of trustees on 23 October 2023 and signed on its behalf by:





Simon Morris - Trustee

Independent Examiner's Report to the Trustees of
Independence Initiative Limited

Independent examiner's report to the trustees of Independence Initiative Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








G J Rummens FCCA
The Association of Chartered Certified Accountants

V & R Accountancy Services
Chartered Certified Accountants
Cropton House
Three Tuns Lane
Formby
Merseyside
L37 4AQ

23 October 2023

Independence Initiative Limited

Statement of Financial Activities
for the Year Ended 31 March 2023

31.3.23 31.3.22
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 4,966 - 4,966 352

Charitable activities
Support services 163,287 207,211 370,498 322,486
Community pantry 17,691 8,350 26,041 11,241

Investment income 2 407 - 407 6
Total 186,351 215,561 401,912 334,085

EXPENDITURE ON
Charitable activities
Support services 177,459 180,002 357,461 347,576
Community pantry 8,884 8,350 17,234 5,430
Total 186,343 188,352 374,695 353,006

NET INCOME/(EXPENDITURE) 8 27,209 27,217 (18,921 )


RECONCILIATION OF FUNDS
Total funds brought forward 303,661 14,280 317,941 336,862

TOTAL FUNDS CARRIED FORWARD 303,669 41,489 345,158 317,941

Independence Initiative Limited (Registered number: 03525955)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 297,858 88 297,946 299,581

CURRENT ASSETS
Stocks 7 1,500 - 1,500 -
Debtors 8 81 - 81 7,868
Cash at bank and in hand 54,311 41,401 95,712 67,691
55,892 41,401 97,293 75,559

CREDITORS
Amounts falling due within one year 9 (14,628 ) - (14,628 ) (16,379 )

NET CURRENT ASSETS 41,264 41,401 82,665 59,180

TOTAL ASSETS LESS CURRENT
LIABILITIES

339,122

41,489

380,611

358,761

CREDITORS
Amounts falling due after more than one year 10 (35,453 ) - (35,453 ) (40,820 )

NET ASSETS 303,669 41,489 345,158 317,941
FUNDS 12
Unrestricted funds 303,669 303,661
Restricted funds 41,489 14,280
TOTAL FUNDS 345,158 317,941

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


Independence Initiative Limited (Registered number: 03525955)

Balance Sheet - continued
31 March 2023

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 23 October 2023 and were signed on its behalf by:





Simon Morris - Trustee

Independence Initiative Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The trustees and management continue to closely monitor the charity's finance in order to make certain it remains in a position to meet its short term liabilities as they fall due, and to be able to discharge any outstanding liabilities in the event of winding up. Short term working capital requirements are met through the use of an approved overdraft facility. No adjustments have been made in these financial statements to reflect the position if the charity ceased as a gong concern.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs
Expenditure on the governance costs of the charity includes both direct and apportioned staff support costs. The apportioned staff costs are allocated to governance costs on the basis that they represented an element that specifically relate and contribute to the strategic and future development of the charity.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Freehold property - not provided
Fixtures and fittings - 25% on reducing balance and Straight line over 4 years
Motor vehicles - Straight line over 3 years
Computer equipment - Straight line over 3 years

The Freehold Property is not being depreciated as it is the charity's policy to continually review the value and maintain it out of expenditure charged to revenue to a standard which ensures that the estimated residual value exceeds the NBV.

A deed of covenant is in place whereby on sale of the property for any use other than a drug rehabilitation centre, an amount of 50% of the difference between the sale value and open market value with restricted use is payable to the Metropolitan Borough Council of Sefton. As there is no intention to sell the property, no liability (either contingent ot actual) is provided in these financial statements. This restriction expires on 24th July 2038.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Independence Initiative Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES - continued

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. INVESTMENT INCOME
31.3.23 31.3.22
£    £   
Deposit account interest 407 6

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.23 31.3.22
£    £   
Depreciation - owned assets 3,092 3,241

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.


5. STAFF COSTS

The average monthly number of employees during the year was as follows:

31.3.23 31.3.22
Chief Executive 1 1
Client Support Services 4 4
Management & Admin 3 3
General Charitable Activities 4 4
12 12

No employees received emoluments in excess of £60,000.


Independence Initiative Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 295,000 53,235 2,750 4,381 355,366
Additions - 1,457 - - 1,457
At 31 March 2023 295,000 54,692 2,750 4,381 356,823
DEPRECIATION
At 1 April 2022 - 52,140 1,167 2,478 55,785
Charge for year - 715 917 1,460 3,092
At 31 March 2023 - 52,855 2,084 3,938 58,877
NET BOOK VALUE
At 31 March 2023 295,000 1,837 666 443 297,946
At 31 March 2022 295,000 1,095 1,583 1,903 299,581

7. STOCKS
31.3.23 31.3.22
£    £   
Stocks 1,500 -

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors - 7,787
Other debtors 81 81
81 7,868

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts (see note 11) 5,252 5,007
Trade creditors 1,538 2,708
Social security and other taxes 2,610 2,566
Pension 313 381
Accrued expenses 4,915 5,717
14,628 16,379


Independence Initiative Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 11) 35,453 40,820

11. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due within one year on demand:
Bank loans 5,252 5,007
Amounts falling between one and two years:
Bank loans - 1-2 years 5,385 5,007
Amounts falling due between two and five years:
Bank loans - 2-5 years 16,985 15,022
Amounts falling due in more than five years:

Repayable by instalments:
Bank loans more 5 yr by instal 13,083 20,791

The above constitutes a loan received under the Bounce Back Loan Scheme which is repayable by instalments over 5 years, commencing in June 2021, with an interest of 2.5%.

12. MOVEMENT IN FUNDS
Net
movement At
At 1.4.22 in funds 31.3.23
£    £    £   
Unrestricted funds
General fund 282,885 8 282,893
Cessation fund 20,776 - 20,776
303,661 8 303,669
Restricted funds
The National Lottery (BBO - Digital
Inclusion)

122

(34

)

88
Hemby Trust 500 (500 ) -
Lloyds Bank Foundation E&W 1,140 (1,140 ) -
The National Lottery Community Fund -
Reaching Communities

12,518

(2,370

)

10,148
Nationwide Community Foundation - 31,253 31,253
14,280 27,209 41,489
TOTAL FUNDS 317,941 27,217 345,158

Independence Initiative Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

12. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 186,351 (186,343 ) 8

Restricted funds
The National Lottery (BBO - Digital
Inclusion)

28,718

(28,752

)

(34

)
Hemby Trust - (500 ) (500 )
Lloyds Bank Foundation E&W 27,250 (28,390 ) (1,140 )
ESF Community Grants Programme 11,000 (11,000 ) -
Sefton CVS 13,212 (13,212 ) -
Aldi Community Cupboard 1,000 (1,000 ) -
The Asda Foundation 1,500 (1,500 ) -
The National Lottery Community Fund -
Reaching Communities

76,870

(79,240

)

(2,370

)
Feeding Liverpool 4,850 (4,850 ) -
Kickstart 6,511 (6,511 ) -
Nationwide Community Foundation 41,670 (10,417 ) 31,253
One Stop 1,000 (1,000 ) -
Regenerus 980 (980 ) -
Warm Welcome Energy 1,000 (1,000 ) -
215,561 (188,352 ) 27,209
TOTAL FUNDS 401,912 (374,695 ) 27,217


Independence Initiative Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

12. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.21 in funds 31.3.22
£    £    £   
Unrestricted funds
General fund 291,094 (8,209 ) 282,885
Cessation fund 20,776 - 20,776
311,870 (8,209 ) 303,661
Restricted funds
The National Lottery (BBO - Digital
Inclusion)

8,653

(8,531

)

122
Hemby Trust 1,000 (500 ) 500
Lloyds Bank Foundation E&W - 1,140 1,140
ESF Community Grants Programme 10,856 (10,856 ) -
Sefton CVS 3,000 (3,000 ) -
Liverpool City Region 1,483 (1,483 ) -
The National Lottery Community Fund -
Reaching Communities

-

12,518

12,518
24,992 (10,712 ) 14,280
TOTAL FUNDS 336,862 (18,921 ) 317,941

Independence Initiative Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 187,872 (196,081 ) (8,209 )

Restricted funds
The National Lottery (BBO - Digital
Inclusion)

17,644

(26,175

)

(8,531

)
Hemby Trust - (500 ) (500 )
Lloyds Bank Foundation E&W 22,150 (21,010 ) 1,140
ESF Community Grants Programme 24,173 (35,029 ) (10,856 )
Sefton CVS 4,727 (7,727 ) (3,000 )
Liverpool City Region - (1,483 ) (1,483 )
Plus Dane 1,000 (1,000 ) -
Help The Homeless 2,500 (2,500 ) -
NHS Liverpool 6,000 (6,000 ) -
P H Holt Foundation 3,000 (3,000 ) -
Aldi Community Cupboard 400 (400 ) -
The Asda Foundation 200 (200 ) -
The Arnold Clark Community Fund 1,000 (1,000 ) -
Tesco Community Grants 500 (500 ) -
The National Lottery Community Fund -
Reaching Communities

62,919

(50,401

)

12,518
146,213 (156,925 ) (10,712 )
TOTAL FUNDS 334,085 (353,006 ) (18,921 )

13. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

14. RESTRICTED FUNDS

Lloyds TSB
The fund represents a grant towards the salaries of staff employed in the delivery of The Key - our transitional housing support.

ESF Community Grants - Workers Educational Association
This fund represents a grant that is helping many people in the Liverpool City Region who face additional barriers in the labour market to improve their employability and gain employment.

United Kingdom Shared Prosperity Fund (UKSPF) - Workers Educational Association
This fund represents new government-funded programme to help adults improve their numeracy skills called MULTIPLY.

Neighbour
This fund represents a grant towards the costs associated with running a community pantry.

ASDA
This fund represents a grant towards the costs associated with running a community pantry.



Independence Initiative Limited

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

14. RESTRICTED FUNDS - continued

One Stop Community - Groundwork
This fund represents a grant towards the costs associated with running a community pantry.

Warm Welcome Energy Fund - Stewardship
This fund represents a grant towards the costs associated with running a community pantry.

Kickstart - VOLA
This fund is part of the Government's "Plan for Jobs" scheme. A fund to create hundreds of thousands of high quality, 6 month work placements aimed at those aged 16 to 24 who are on Universal Credit and at risk of long tern unemployment.

Sefton In Mind - Sefton CVS
This fund represents a grant towards working with and empowering males of working age to address ongoing mental health challenges.

Warm Clothes - Sefton CVS
This fund represents a grant towards providing winter clothing, bedding, and other items to residents of Sefton during the current cost of living crisis.

Warm Hub - Sefton CVS
This fund represents a grant towards providing a community space during the winter months for community members during the current cost of living crisis.

Feeding Liverpool - Liverpool City Council
This grant represents a grant towards the costs associated with running a community pantry. Feeding Liverpool is the City of Liverpool's food alliance, connecting and equipping people and organisations to work towards good for all. Building on their work since 2015 tackling hunger and food insecurity.

Nationwide Building Society - Community Fund
Britain's biggest building society has run its Community Grants programme since 2017 - offering grants of up to £50,000 to local charities and projects, particularly those focussed on housing. This year, it's awarded a total of £4.3 million to 96 housing related projects across the UK.

Reaching Out - National Lottery Community Fund
This fund represents a grant towards the cost of running community led initiatives.

15. UNRESTRICTED FUNDS

The general (unrestricted) fund may be used at the discretion of the board of trustees in furtherance of the charitable company's objectives.

16. DESIGNATED FUND

The cessation fund was set aside by the charity trustees/directors in the event of the charity winding up its activities. The amount designated is an estimate of the additional costs that would be incurred upon cessation.