REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
LIVETWICE |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
LIVETWICE |
LIVETWICE |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Page |
Report of the Trustees | 1 | to | 2 |
Statement of Financial Activities | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 | to | 9 |
LIVETWICE (REGISTERED NUMBER: 09000544) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
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 30 September 2024. 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 Vision |
To offer opportunity, practical skills training and personal support to strengthen communities in need. |
The Mission |
LiveTwice is a 'second chance' charity working with disadvantaged people of all ages regardless of race or religion. |
Our aim is to enable people to find a purposeful place in society, working with communities to put the compassionate principles of 'love your neighbour' into everyday practice. |
LiveTwice is a humanitarian aid organisation which works to help break the cycle of poverty, abuse and unemployment that destroys the individual and leads to the breakdown of families and society. LiveTwice gives a hand-up not just a hand-out. We help the destitute and oppressed, regardless of race, religion, creed, colour or gender. We do not judge but assist those who have taken a wrong turn in life - as well as those who have not had the right opportunities - to turn their lives around. |
We have a heart to see communities strengthened, helping them become their own support. In order to do this, we work with children and young adults, as well as those of all ages, both in the UK and abroad. We teach skills, provide access to education, inspire and mentor within safe environments, empowering many to make the most of their lives for themselves and their families. |
Public benefit statement |
In accordance with the requirements of the Charities Act 2011 and the associated Charities (Accounts and Reports) Regulations 2008, the trustees confirm that they have complied with their duties to have due regard to the guidance on public benefit as published by the Charity Commission, in exercising their powers and duties in the year under review. |
FINANCIAL REVIEW |
Reserves policy |
The trustees have considered the ongoing cash requirements of the Charity and aim to maintain sufficient cash to cover three to six months of unrestricted project commitments and core operating costs. Due to the reduced level of funds in the Charity the Trustees will be making smaller levels of commitment going forward. |
The Trustees ensure that 100% of all supporter's donations go directly to the projects and their beneficiaries. All the administrative and running costs are covered separately by the founder's donations. |
For the period to 30 September 2024 income amounted to £7,128, expenditure amounted to £7,563, of which £4,936 was grant funding, leaving a net deficit of £435. |
FUTURE PLANS |
By January 2021 the charity had exhausted the majority of it's reserves and will no longer be making significant grants to other organisations. The charity is now hibernating until such time as it's future path is determined. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is a company limited by guarantee and as such is governed by its Memorandum and Articles of Association. |
Organisational structure |
The trustees oversee the affairs of the Charity. There are currently no employees. |
LIVETWICE (REGISTERED NUMBER: 09000544) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Risk management |
The trustees have considered the major strategic, business and operational risks which the charity faces and confirm that systems have been established to mitigate those risks. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
Trustees |
The founding trustees all of whom are still serving are Elizabeth Earle, Amaryllis Trevithick and Georgina Vestbirk. |
Trustees are elected with the approval of the other trustees. Typically appointments and reappointments would be considered on an annual basis. Elizabeth Earle is the chairman and Georgina Vestbirk is treasurer. |
Approved by order of the board of trustees on |
LIVETWICE |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
30.9.24 | 30.9.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Other trading activities | 3 |
Investment income | 4 |
Total |
EXPENDITURE ON |
Raising funds | 5 |
Charitable activities | 6 |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 10,270 |
LIVETWICE (REGISTERED NUMBER: 09000544) |
BALANCE SHEET |
30 SEPTEMBER 2024 |
30.9.24 | 30.9.23 |
Unrestricted | Total |
fund | funds |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 12 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 13 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 14 |
Unrestricted funds | 10,270 |
TOTAL FUNDS | 10,270 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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. |
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 and authorised for issue by the Board of Trustees and authorised for issue on |
LIVETWICE |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
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. |
By January 2021 the charity had exhausted the majority of it's reserves and will no longer be making significant grants to other organisations. The charity is now hibernating until such time as it's future path is determined. |
Income |
Voluntary income including donations, gifts and legacies and grants that provide core funding or are of a general nature are recognised where there is entitlement, receipt is probable and the amount can be measured with sufficient reliability. Such income is only deferred when: |
- | the donor specifies that the grant or donation must only be used in future accounting periods; or |
- | the donor has imposed conditions which must be met before the charity has unconditional entitlement. |
Investment income is recognised on a receivable basis. |
Volunteers and donated services |
The value of services provided by volunteers is not incorporated into these financial statements. |
Where goods or services are provided to the charity as a donation that would normally be purchased from suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity. |
Expenditure |
Expenditure is recognised when a liability is incurred. Contractual arrangements are recognised as goods or services are supplied. |
- | Costs of raising funds are those costs incurred in attracting voluntary income. |
- | Charitable activities include grants payable in support of the charity's objects and include both the direct costs and support costs relating to grantmaking. |
- | Support costs include central functions and have been allocated to activities on a basis consistent with the use of resources. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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. |
LIVETWICE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
2. | DONATIONS AND LEGACIES |
30.9.24 | 30.9.23 |
£ | £ |
Donations |
Gift aid |
3. | OTHER TRADING ACTIVITIES |
30.9.24 | 30.9.23 |
£ | £ |
Carol concert fundraising |
Merchandise sale and delivery |
4. | INVESTMENT INCOME |
30.9.24 | 30.9.23 |
£ | £ |
HMRC interest |
5. | RAISING FUNDS |
Raising donations and legacies |
30.9.24 | 30.9.23 |
£ | £ |
Carol concert expenses |
6. | CHARITABLE ACTIVITIES COSTS |
Direct | Support |
Costs (see | costs (see |
note 7) | note 8) | Totals |
£ | £ | £ |
Grantmaking | 1,900 | 3,036 | 4,936 |
7. | DIRECT COSTS OF CHARITABLE ACTIVITIES |
30.9.24 | 30.9.23 |
£ | £ |
Donations | 1,900 | - |
LIVETWICE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
8. | SUPPORT COSTS |
Governance |
Management | costs | Totals |
£ | £ | £ |
Grantmaking | 1,806 | 1,230 | 3,036 |
Support costs, included in the above, are as follows: |
Management |
30.9.24 | 30.9.23 |
Total |
Grantmaking | activities |
£ | £ |
Telephone | - | 6 |
Legal and professional fees | 35 | 35 |
Bank charges | 491 | 375 |
Computer and website costs | 1,280 | 1,074 |
1,806 | 1,490 |
Governance costs |
30.9.24 | 30.9.23 |
Total |
Grantmaking | activities |
£ | £ |
Accountancy fee | 1,230 | 1,200 |
9. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 30 September 2024 nor for the year ended 30 September 2023. |
Trustees' expenses |
Expenses were paid to Trustees in the year totalling £Nil (30.9.23: £Nil). |
10. | STAFF COSTS |
The charity has no employees in the year (30.9.23: None) and therefore no employees received emoluments in excess of £60,000. |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted |
fund |
£ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Total |
EXPENDITURE ON |
Raising funds |
LIVETWICE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted |
fund |
£ |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 10,270 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Other debtors |
Prepayments |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade creditors |
Other creditors |
Accrued expenses |
14. | MOVEMENT IN FUNDS |
Net |
At | movement | At |
1.10.23 | in funds | 30.9.24 |
£ | £ | £ |
Unrestricted funds |
General fund | 10,270 | (435 | ) | 9,835 |
TOTAL FUNDS | (435 | ) | 9,835 |
LIVETWICE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
14. | 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 | 7,128 | (7,563 | ) | (435 | ) |
TOTAL FUNDS | ( |
) | (435 | ) |
Comparatives for movement in funds |
Net |
At | movement | At |
1.10.22 | in funds | 30.9.23 |
£ | £ | £ |
Unrestricted funds |
General fund | 11,787 | (1,517 | ) | 10,270 |
TOTAL FUNDS | 11,787 | (1,517 | ) | 10,270 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 3,927 | (5,444 | ) | (1,517 | ) |
TOTAL FUNDS | 3,927 | (5,444 | ) | (1,517 | ) |
15. | RELATED PARTY DISCLOSURES |
16. | ULTIMATE CONTROLLING PARTY |
The charitable company is under the control of its trustees. No one trustee has control of the charitable company. |