The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".
The charity delivers a range of community led projects designed to deliver social, economic and environmental benefits to the neighbourhood and residents of Bootle, sharing its experience and knowledge with other communities across the country.
During the year the Charity:
and the University of Liverpool worked in collaboration to develop a Neighbourhood Transformation Planning Tool (NTPT), With funding from Research England through the University of Liverpool’s Public Policy Quality-Related Fund, the NTPT is an interactive online tool that supports people and communities to develop their knowledge, skills and confidence to drive and deliver community-led neighbourhood transformation. The partnership aims to secure funding to support its work with other communities across the UK.
Continued to support local people who face disadvantages in accessing the labour market
Continued to support other communities to deliver asset-based projects across the Northwest and North Wales, helping them to access funding in their own rights
Continues to work closely with and gain significant support from the Power to Change (National Lottery), for which the trustees are grateful for
Continues to provide business start-up support with the support of Sefton Council
Continued to progress the # destinationBootle and explore supporting other community led construction projects with advice through its subsidiary company, 123 Accommodation Limited
Held a large number of events at The Lock & Quay community pub, held in its subsidiary company 123 Accommodation Limited, including the provision of a Warm Space project
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity continues to invest in the development of opportunities focusing on supporting other communities to deliver asset-based projects. It has focused heavily on building relationships with local stakeholders, including Universities, local authorities and registered housing providers, to create a partnership to deliver community-led neighbourhood transformation across the region.
The # destinationBootle project progresses and, despite the setbacks and disappointments previously reported, we are confident that we have a path in place to deliver this important project.
The Lock & Quay community pub, run through our subsidiary 123 Accommodation Limited, continues to go from strength to strength and delivered a wide and variety range of successful activities and events during the year.
The total income for the year was £246,342 (2024: £391,206). The surplus for the year was £123,484 (2024: £33,922). This includes revaluation of the buildings of £155,347 and without this there was a deficit for the year of £31,863.
Total funds were £298,497 (2024: £175,013) at the year-end of which £120,521 (2024: £75,402) were restricted funds and £155,347 (2024: £nil) was revaluation gain.
This year the charity continues to explore and develop opportunities following the exit from the EU, the Trustees are pleased to report a surplus on activities without compromises to its services.
The Trustees continue to explore other projects and activities in order to ensure the future of the charity.
The trustees are reviewing their reserves policy in light of the changing nature of the activities in which the charity engages and until the outcome of the # destinationBootle project is determined. The policy will take into account the risks facing the group and will seek to ensure that adequate unrestricted funds are retained in the group going forwards to protect against unexpected events and issues.
The trustees review the risks that they consider are pertinent to the operations of the group on a regular basis. Once a risk is identified and discussed, actions are taken to assign relevant staff members with responsibility for any mitigating actions if appropriate.
The risk register is monitored on a regular basis.
The main risk that the trustees consider is relevant to the operations of the group are risk over withdrawal of funding for projects. To mitigate this the charity has sought to diversify its activities as far as possible to ensure that any loss of support does not cause significant damage to the operations.
Other risks include changes to Government policies and regulatory issues which may adversely affect the charitable sector.
The charity is a company limited by guarantee.
Safe Regeneration Limited was incorporated in 2000 as Liverpool Safe Productions Ltd. The name was changed in May 2015 to Safe Regeneration Ltd. The governing documents are the Memorandum and Articles of Association which were revised in June 2016. Safe Regenerations Ltd (‘the charity’) was registered as a charity on 21 July 2016.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The charity’s policy in respect of the recruitment, appointment and induction of trustees aims to strike a balance between local representation whilst ensuring the necessary skills are present to allow the board to carry out its duties and responsibilities. This is an ongoing review process. The Chief Executive Officer is responsible for the induction and training process for new trustees.
123 Accommodation CIC was established in 2014. The principal activity of the company during the year comprised the undertaking of a building project on and around St Mary’s Complex and surrounding land in Bootle, Liverpool which is being funded by local authority/government- # destinationBootle. During last year the company applied for planning permission which was refused. Post the year end, an appeal against the decision was also refused. The company is seeking partnerships to bring the project forward. The company also owns a community pub – the Lock & Quay, which is a community venue and holds events and activities to engage the local community
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Safe Regeneration Ltd (the charity) for the year ended 31 March 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 24 form part of these financial statements.
The notes on pages 9 to 24 form part of these financial statements.
Safe Regeneration Ltd is a private company limited by guarantee incorporated in England and Wales. The charity is a public benefit entity and a registered charity in England and Wales. The registered office is St Mary's Complex, Waverley Street, Bootle, Merseyside, L20 4AP.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.
These financial statements have been prepared on the going concern basis, which assumes that the charity will be able to meet all liabilities as they fall due for payment for at least the twelve-month period following the date of signing of these statements.
This is based on financial forecasts prepared and approved by the trustees.
Funding and grants have been secured to support the day-to-day activities of the charity which will ensure that the cash position of the charity will remain positive for the foreseeable period. The # destinationbootle project will only be progressed once funding has been secured and hence the trustees are carefully monitoring this position so as to not expose the group to any risk.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.
Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance if the charity apportioned to charitable activities.
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to the activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land is not depreciated on the grounds that it has been designated for redevelopment which will increase the value.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.
Revaluation gains and losses are recognised in other recognised gains and losses and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in net income/(expenditure) or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and loss are recognised in net income/(expenditure) for the year.
Investments in subsidiary undertakings are measured at cost less impairment.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
Safe Regeneration Limited has charitable exemption from corporation tax, and as such, none is included in the accounts.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance related conditions on the recipient, it is recognised in income only when the performance related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term creditors are measured at the transaction price.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Land and buildings with a carrying amount of £475,000 were revalued at 9th October 2025 by MO Valuation Limited, independent valuers not connected with the charity on the basis of market value. The valuation was based on recent market transactions on arm's length terms for similar properties.
At 31 March 2025, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £319,653 (2024 - £319,653).
The investment comprises shares in subsidiary undertakings, stated at cost of £100 (2024: £100).
The bank loan is secured against the property known as Safe Hub. The loan is on an interest only basis and is repayable in full within two years from August 2023. A second loan was received in February 2025 which will be used in the refinancing/restructure of existing finances. This second loan is repayable in full within two years from March 2025.
Deferred income is included in the financial statements as follows:
The deferred income relates to a grant which was obtained to part fund the purchase of St Mary’s Complex. This deferred income is being recognised over the term of the mortgage attached to this property.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The purpose of each of the funds still remaining at 31 March 2025 was:
ERDF/EH Phase 2
The ERDF/EH Phase 2 fund will be utilised to continue to support social businesses growth across the Liverpool City region.
Erasmus+ Fund- Art4us
Art4us mission is to use the power of the arts to transform lives of young people (mixed ability youth) and promote mental wellbeing and inclusion. Art4us will take a multi-artform creative connecting the project to seven countries across the EU.
Erasmus+ Fund- PINOLO
Empowering artist is a project that aims to develop skills within the creative sector, working with unemployed artists- the project will create a manual to demonstrate methods that artists can replicate to create social value in their work.
The Morgan Foundation
The Morgan Foundation provides capital project funding for the on-going renovation of the Lock & Quay community pub.
The Good Samaritan
The Good Samaritan provides fund raising for a music project.
Creative Europe
A series of new ambitious site-specific performances, each integrating aerial, movement, music- to form alternative operas. The performances will tell the story of the ‘Libertalia’ universe; a mythical free land founded by European pirates in the 17th century. Each ‘Libertalia’ story turns our notion of pirates upside down, telling the tale of pirates who are ‘guardians of liberty’. That help release us from the inner and outer world prisons we often exist within, by helping us find our hidden treasure.
BG-LCR HA
Breaking Ground is the community led housing hub for the Liverpool City Region, launched in February 2021.SAFE Regeneration has incubated the project, securing funds from Power to Change deliver the programme in partnership with Registered providers from across the Northwest.
Breaking Ground has five key objectives;
Raise awareness of the LCR Housing Hub (Hub)
Raise awareness and promote Community led Housing (CLH) across the Liverpool City Region (LCR)
Provide practical advice and support to potential, emerging and existing CLH schemes in the LCR
To develop LCR CLH Hub into a sustainable organisation
To promote high environmental sustainability within community led housing schemes
Safe has led a group of Achor organisations from across the city region to bring forward a sustainability strategy for the project. Working alongside 123 accommodation CIC to enable communities across the northwest to develop housing and asset focused project that are of Community-led. The projects has numerous projects in the pipeline that will support the continued delivery of the key objectives of the Hub.
National Lottery PBSA
SAFE Regeneration has co-created this Phase 3 PBSA plan for the local area of Bootle. Phase 2 was delivered during a world-wide pandemic which highlighted the value of "community" with community-based charities and the third sector as a whole responding locally, providing care and support to those most in need in neighbourhoods across the UK. It was and is the adaptability of our partner organisations that has been integral to the response to needs locally- demonstrating a resilience that we must recognise and celebrate, by developing a strategy that maximises the opportunities for people within our shared community going forward. The delivery of this plan will take place over three years from March 2022, with phase 3 funding of £120,000 awarded in April 2022. There are three strands to this project;.
Looking after each other- caring for our partners, ensuring we support each other to keep on doing great things in our community
People contributing to the physical and emotional regeneration of the Town
Creating a resilient, self-sustainable community - # destinationbootle.
Natural England
Working alongside other community businesses in the SAFE hub including: L20 Hub, Scrapyard Studios, Start Creative and In Nature Horticultural Therapy, we have been engaging a varied group of keen growers to the green community hub, including young people and families, vulnerable adults living with dementia, adults with SEN, and people from the LGBTQ community; home-schooled children with autism; the general community- primarily residents of Linacre Ward, Bootle and some very keen growing volunteers from the Lock & Quay Community Pub - especially the 'Cosy Club' warm space regulars.
Breaking Ground P2C
A project to support community housing hubs across the Liverpool city region.
Kindred
A project to support care and support to vulnerable people in Bootle.
South Sefton Neighbourhood
A project to support people to start up their own business.
2025 Festival sponsors
Donation via Rise Construction and Excel Housing to support administrative staff costs.
Groundswell
University of Liverpool funded project to support visually impaired community.
Mince pies and music
Music project at the Lock and Quay funded by Sefton CVS and Living Well Sefton.
Church of England
Archbishops Fund to support the development of asset-based projects in church buildings.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
The company is limited by guarantee and has no share capital. The liability of members is limited to the sum of £1 per member.
The following amounts were outstanding at the reporting end date:
123 Accommodation C.I.C. is a wholly owned subsidiary of Safe Regeneration Ltd. Outstanding balances due by the charity are unsecured and are considered to be repayable on demand.
These financial statements are separate charity financial statements for Safe Regeneration Ltd.
Details of the charity's subsidiaries at 31 March 2025 are as follows:
123 Accommodation CIC owns and manages the Lock & Quay Community Pub and is acting as the vehicle to deliver the capital development programme (# destinationbootle) for the benefit of the charity.