Company number 3341420 Charity number 1064848 Options for life OPTIONS FOR LIFE (A Company limited by GuArantee) Financ121 Statements Year ended 31 March 2024
OPTIONS FOR LIFE INDEX Charlty Information Imrectors, ¥nd Trustees, Report Report of the Audltors Statement of Flnancial Actlvltlel Balance Sheet 12 Cash Flow Statement 13 Notes to the Flnanclal Statementl 14
OPTIONS FOR LIFE CHARrrY INFORMATION Directors Amrit Virk - Chair Alan Daffern Harriet Moat Deborah White- resigned 2311012023 Rosina Singleton Cesar Alvarez- Appointed 2311012023 Ch4rlty Number 1064848 Company Number 3341420 Ch4rlty correspondence Address Oak Green Lodge Oak Green Way Oldbury W¢st Midland5 B68 8LR Auditori Feltons Chartered Accountants & Businc55 AdviseTS 8 Sovereign Court 8 Grahem Street Bimingham BI 3JR Blnkers Lloyds Bank plc 125 High Strc¢L Harbome Bimiingliam B179NP Chlef Ex¢¢utlve Offleer Nicola Thomson
OPTIONS FOR LIFE DIRECTORS, AND TRUSTEES, REPORT The Directors present their report and financial statements for the year ended 31 March 20?4. Governlng Document The organisation is a charitable company limited by guardntee. incorporated on 27 March 1997 and registered as a chariry on 13 October 1997. The company was established under a Memorandum of Association which eslablished the objeLts and powers of the charitable company and is governed under its Articles of AssociatiOT]. In the event of thc cornpany being wound up the members are required to contributc an atnount not exceeding £1. Dlrectors and Truitees The Board of Trnslces is the governing body of the charity. The Board of Directors 15 the governing body of the company. Seleetion of Trustees is by application to the Board of Ttustees and is managed by the Chair and brought to Board of Tnlstees Meetings for approval. Selection of Directors is by a vote of the tNstees. The policy is lo recruit people lo be Trustees with knowlcdge, skills and ¢xp¢ri¢n¢e relevanl lo the Bims and objectives of the charity. Documents detailing th¢ legal structure, organisation, finanGo5 8nd managemcn¢ of the Company, which are regularly rcviewed, are provided to all Board of Trustee members to facilitate effective governance of the charily. In addition, they are provided with training support and practical expericnce of the day lo day running of the charity. The Board of Trnstees meets on a regular basis to manage the affairs of the chariry And forniulatc policy. The Chief EXul1Ve manages the day lo day runnin¥ of thc charity assisted by full lime and part lim¢ employe¢s. No irustcc receives any payment foT carrying out their duties and none of thc tn15tecs has any beneficial interest in the company. The trustees who have served during Ihc Ye and since the ye4ir end are listed on page I, Risk Management The Board of Trustees meet regularly to as5e5s financial plannin¥ matters and review measures lo control risk. A comprehensive risk registcr is completed annually and reviewed at least quarterly during the year. External risks, which prirnarily concern funding, are continually addressed by closely managing the qualiry and cost effectivenes5 of all our contracis, identifying areos for new grant applications and ensuring adequate cash reserves are constantly maintained. An on-going review of key operational and financial proces5cs and procedures Combine to mitigate againsr any potential internal control weaknes5CS. Mlsslon and Vision Statement Our Mission is lo provide high quality and coordinated services to all participants which is responsive, flexible and sensitive to their changing needs. enabling thcm lo play an activ¢ part in their local comrnunity. Our Vision is lo give people with Learning Disabilities andlor Autism choice and control over their lives. Objectlves of the Charity The charity's objectives are lo enable people with learning disabilities to advance their personal development and lead a full life within the community- The airns and policies adoptd in fijrtherance of ihese objectives are.. - Develop a range of service5 to meet the needs of our participants. Give control and choice back to our participants. Enable participant8 to become integrated into their own comrnuniti¢s. Ensure our services are CUItLallY appropriate to meet the needs of diverse groups. Provide a variety of meaning1 volunlary and workplace opportunities Promote leaming disabilities an(Vor autism ernployment benefits to local businesses and organisations.
OPTIONS FOR LIFE DIREoRs, AND TRUSTEES, REPORT Eviderjce the impact on individuals and communilies. Develop and build productive relationships to enhance the delivery of services. Work alongside commissioners, other agencies and stakcholders to develop tUre delivery models. Raise the profile of Options for Life amongst all stakeholders. Build upon the parentlcarer forum. Develop the organisation's outcome focused approach. Tnvest in research projects for growth and development to "Build Back Better." Increase rhe organi5alion's financial wellbeing. Grow and diversify funding opportsnities. Celebra* ALL successe5. Value all staff and volunteers and prioritise their growth and wellbeing. Ensure all staff &nd volunteers have the right training, values and support. Review of Actlvltle5 for 2023 - 2024 During the fisc&l ye&r 2023-2024, Options for Life continued il5 commitment to providing personali5¢d support and OppOrnitieS for adults with learning disabililies andlor autism. The charity operatcs from three buildings across Sandwell &nd offers extensive outreach services, adapting it5 opcrations lo meet evolving local authority requirements and participant nceds. Reflccting on our journey. it has been four years since the inTtial closure of our services on Monday. 23rd March 2020. due to the COVID-19 pandemic. We resumed outreach support in July 2020, while our buildings remained losed until July 2021. This period of tran51tion necessitated significant adaptations as tELe local authority shifted it5 focus iowards commissioning outreach service5. Options for Life responded effectively by establishing a success[ and enduring outreach service that continues to thrive day. Despltc the ongoing challenge5 in rccntittnent, which are symptomotic of broader sector-wide issues. we have observed a substantial increase in applications for vacan¢ positions over the past several months. This positive trend is a testament to our organisation's reputation and the rewarding nalure of the work we offer. Throughout the year, our service delivery has bcen robusl cncompassing.. Over 19.000 hours of setvice in our Profound and Multiple Learning Disabilities (PMLD) program, More than 53.800 hours of outreach suppori, In excess of 3,900 hours dedicated to building-based participants. Additionally. thcre has been a significant increasc of 2,260 hours in tILe package hours for existing participants. We received 24 new refcrrals during the year and ended the year with 15 individua15 on the currcnt waitlll8 IisL reflecting.the growing demand for our services. Achievemcnts of the Year The year 2023-2024 has been marked by several notable achievements: Business Development Plan- We successfvlly signed off on a n¢w 12-month Busin¢ss Developm¢nt Plan, setting a clcllr stt'atcgic dii'cctioi) fill. Ilie iiiiiiiiig yedl. Investors in People Accreditation.. We celebrated our 5th consecutive year of 8ccr¢diiation with Investors in People, demonstrating our ongoing commitment to high standards in people manag¢rnent and organisational development. Creative Spa¢¢ Development.. With the aid of grant funding. we developed a Creative Space to enhance the experiences and opportunities available to our poJth'cipants. Vehicle Acquisitions.. We procured a new 7_seater vehicle through grant funding and secured additional funding to purchase an all-electric 7-sealer vehicle along with a charging point, underscoring our commitment to 5U8tainability. Grant-Funded Projects.. We successftilly implemented several grant-nded activities and projects, including:
OPTIONS FOR LIFE DIRECTORS, AND TRUSTEES, REPORT Eye Gaze Technology: This innovative technology. deployed at Acorn Lodge. signifjcantly enhances communication and choice for participants with communication difficulties by tracking eye movements, allowing those with limited mobility to control devices and communicate through their g&2e. Community Engagement- We cslablibhcd strong links with four local feeder schoolslcolleges. fostering connc¢lion5 that will bencfit OUT parti¢ipants through increased community integration and collaboration. These accomplishments underscore our dedication to improving the quality of life for the individuals we support and our responsiveness to both the needs of OUT participants and the broader community. In conclusion. the year 2023-2024 has b¢en one of progress and resilience for Options for Life. We look forWd lo building on this foundation and continuing to provide exceptional support and opportunities for adults with learning disabilities andlor autism in the years lo come. Public Beneflt In planning and executing OUT activities, the Trustees and management team consistently adhere to the Charity Commission's guidancc on public benefit. Our commitment to inclusivity is unwavering., we welcome all participants irrespective of personal background. circumstances, faith, gender, or economic status. This inclusive approach not only aligns with our values but also enri¢hes our ¢ommunity by fostering the sharing of diverse skills, abilities. and life exp¢rien¢es. Our primary obje¢tive is to provide support and opportunities for adults with learning disabilities andlor autism. Our ndIll8 and mission are spe¢ifi¢ally lailored lo meet the unique needs of this 8roup. who face significant healih inequalities compared to the general population. The disparity in health outcomes ha5 becn cxaccrbaled by the COVID-19 pandemic, making our work even more critical. We arc acutely aware of the substantial barriers thar adulis with learning disllbililies andlor auiism encounler in accessing quality healthcare and other es5enlial services. Our strong focus on dismantling these barriers aim5 10 improve both the quality ot- life and lifc expectancy for our participanls. Over the past decade, the life expectancy of adults with learning disabilities andlor aulism has increased, which is a positive developrnent but also presents new challenges. As our participants age, they more likely to face age-related health conditions. necessitating a more comprehensive and adaptive approach to their care. The impact of Options for Life extends beyond our individual participants. By providing robust support systems, we enable families fo Cope morc effectively and sustainably than they might otherwise manage alone. The relief and support we offer to famili¢s are invaluable. allowing them to maintain a higher quality of life and better overall well-being. In summary. the public benefit derived from Options for Life's activities is multifaceted. We enhance the livcs of adults with learning disabilities andlor autism by promoting health, independence, and community integration. Simultaneously, we provid¢ crucial support to f&milies. thereby strengthening the broader community. Our commiiment to public bencfit underpin5 all our actions, cnsuring that we remain a vital resource for those we serve. Review of financial posltion The income of the charily for 2023124 wa5 £1.674,859 (2022123: £1.476.315) alld expenditure was £1,724,331 (2022123.. £1,693.981). This resulted in a net income deficit of £49,472 increasing to £65,586 if the restricted fijnds surplus of £16,114 is excluded (202?1?3 net deficit £217,666). The charity's balance sheet reflecls a decrease in nds due to the 2023124 deficit. The position has been improving during 2023124. At the start of the year & budget deficit of £183,500 had bcen agreed by the Board but during the summer the number of participant sessions began to markedly increase and the level of monthly 10sse5 has been reducing. InfacL a revised budget loss of £96,000 was approved by the Board in Octobcr and during the last quarlcr pcrformance continued tu cxcccd Ihc profilcd budgets particularly for itieome so that the final outturn of £65,586 was £30,414 better than the final forecast budget. There are continuing challengcs with general higher costs for utilities and services and the statutory minimum wage rises which rosc 9.68G/. from April 2023 which was higher than both inflation and the uplifts rise we received from our main income commi55ion¢rs. There are some continuing i5SUe5 with staff recruilment and tentIon of our care support work¢r5 but this is a factor affecting much of the Adult and Social Care sector. However, the Board mains confident that the organization is moving Eowards at Ica5t a break-even situation for 2024125.
OPTIONS FOR LIFE DIREOR5, AND TRUSTEES, REPORT ReseThes policy It is the policy of the charity to establish designated reserve funds to manage any potential financial risks to the viability of the organization. The level of reserves links to our financial as8e8smeTtt of risks that ihe organization faces over the medium ternL within a 5 year period. The level of designated reserve had increased significantly since 2020121 following the Covid-19 virus outbreak and the unprecedented financial uncertainty that the charity then faced. The level of designated reserve increased to a peak of £773,000 for 2021122 but reduced lo £705.000 for 2022123. The financial backdrop has changed since the immediate post-covid years. The commissioned number of sessions held within our centres and our outreach service has been rising. As a result, the levels of monthly financial losses has been declining. The Board have re-assessed the financial risks tacing the organization. There has bcen consideration of likely continued rises in National Minimum Wage rates and contingency for possible day care review impacts from our largest Commissioner, Sandwell Council. We nced lo a150 consider statutory redundancy Costs if thcre was a winding up of the organizalion and fuNrc costs for planned renovations and improvemenls to our Thvo owned building5. In the light of ¢hc5c risks but also reflecting an expectation that the organization will move towards financial SU5tainability over the Lotning ycar5. then il has been agreed by the Board in April 2024 to reduce th¢ l¢vel ol our desiated reserves to £400,000 for 2023124. This will rnean a level of frce balance5 available at April 2024 of approximately £400,000 to support new projects and initialivcs if oppOrnitIcS to grow the business become avail*ble. The Board tnjstees and Senior Leadership Team will continue to monitor closely our level of bank balances and reserves and on-gning risks md financial perforniancc during 2024125. Future Development$ Following the approval of the new Business Development Plan, Options for Lifc is committed to a slralegic focus on sevcral key initiatives aimed at enhancing our services and impact. Our fiJture developments will centre around the following core areas: Build Independence & Social Tn¢lusion Our initiative aims to enhance daily living skills by providing personalised schedules that focus on itnproving basic life skills SULh us person hygiene. cooking,. housekeeping. and financial managemcnt. Participants will bc empowered through pr&ctical, hands-on learning experience5. To foster community engagement and awarencss, we will include outreach session5 to educate the public about learning disabilities. autism, and complex needs, and organise events that promote inclusivity and underslanding. Building support ne¢wurks and partnerships wilh oilier organisalions with similar objectlVC5 is also a priority. We will cmph&si2e cultural competency and divcrsiry by tnereasing cUlra11Y inclusive sessions and exploring partnerships with local cultural organisations, community centres. and minority advocacy groups 10 access additional resources and expertise. Thc cffectiveness of this program will be measured through a comprehensive monitoring and evaluation 5yStem, including regular feedback from participants via surveys and focus groups. Boih quanlilative and qualilalive data will be analy5ed to asscss the impact on porticipants, self-esteem. positivity, and independence, ensuring the schedul¢s are continually refined to mttt our strategic goals. SkTlls for Life Pathways - Thi5 initiative focuses on personaliscd goal sctting through person-centred learning. We will implement a system that allows participant5 to 5¢t and track their individual goals. providing tailored support and resourc¢s based on their specific aspirations. Achi¢v¢m¢nts will be celcbrated through n¢wsl¢tlers, events. and an annual awards ceremony to honour outstanding accomplishments within thc ¢omrnunity. with case studies used promotional and inspirational resourccs. Learning experiences will be personalized and optimized by conducling surveys and interviews to understand participants goals. aspirations and challenges, tailorin¥ schedules and support to meet their specific needs and creating a resourcos hub to ¢nhan¢¢ their skills and knowledge. The piogi-ani will also iiiclu(L¢ S¥bSlVllb Q¢signed lu dtv¢ltsp praLLiL'al wurkpldLe skillb, IgLhniques and Lump¢lvnLi¥s, along wich sessions aimed at improving communication, teamwork and collaboration among participants. Strengthen Paitn¢rships - We aim to enhance funding and rc50urc¢ partn¢rships by ¢ollaborating with other non- profit organisations and ¢harities lo share resources, knowledge. and best practices for & greater collective impact. We a150 seek to establish partnerships with grant-rnaking foundations, corporate Sponsors, and individual donors to secure fidillg for essential prograrns and services. Our fundraising strategy involves developing specific and measurable goals aligned with our mission and financial needs, setting short-lerni and long-terni largels, and identifying key stakeholders such a5 donors, sponsors. and potential partners. By understanding the motivations and interests of these stakeholders, we can tailor our fundraising strategies more effectively. Our neiworking
OWTtONS FOR LIFE DIRECTORS, AND TRUSTEES, REPORT efforts will focus on being assertive and building relationships with other organisations to Greate Dew Opportunities for growth and collaboration. Be Fit for FutLkre This initiative focuses on enhancing inclustvity and support by integrating assisiive technologies and increasing individualL2ed support plans to address the uniqu¢ learning and communicaiion needs of participants. Efforts to improve s¢rvices will involve researching and identifying specific needs, ensuring all sessions have well-developed plans that are engaging, relevant. and appropriate. Operational efficiency and business sustainability will be pursued through cost-saving measures that do not compromise seryice quality. continuous monitoring of monthly operational income and eosts. and seeking cost-saving opporninities through project submissions to the Fundraising Officer. We also aim to fosler a positive organisalional culture by promoting a supportive and inclusive work environment fL)r staff, recognising and celebrattng their achievements to boost mordle. Our advocacy efforts will focus on influencing policies that impact adults with learning disabilities and aurism and collaborating with other or8anisa(ions to address systemic barricrs and pmmote inclusivity. Numiring Talent - This initiative aims to esthblish a system for identitying and acknowledging outsonding contributiorts, along with implemcnting an employee recognition system to appr¢ciat¢ and reward staff talent. To enhance staff knowledgc and skills. regular workshops and seminars will be conducted to update staff on industry trends and best practices, including hands-on activilies and case studies. We will develop a supportive onboarding process through 8 rncntorship or buddy system to a$5isI new employ¢e5 during their probationary period.. To create a dynamic learning environment. a job rolalion scheme will be introduced. allowing employees to experienc¢ different roles within the organi5ation. Additionally, sessions will be arranged where ¢mploy¢es can teach each other new skills. Employees will also bc encouraged propose and lead projects that align with their interest5 and contribute to the org8ni5ation's goals. In conclusion, the fiiture develuprnents outlined in our Business Development Plan are designed to build upon our existing sttrngths. &ddre5s current and en)erging needs. and position Options for Life for sust&ined growih and impact. Wc are committed to delivering high-quality services that improve the lives of adults with learning disabiliiies aThd/or autism and their lamilies, f05tering an inclusive, sUPPOrtive, and empowering environment lor Employees and Remuneratlon The charity operates policies based on a range of issues including those to ensure that no discrimination is made against any employee or participant based on their disabilities, age, gender or ethniciry. The majorlty of staff for 2023124 received a pay rise of 9.680/0 since their salary gr&des were linked io the National Minimum Wage which ros¢ by thi5 percentage in April 2023, Th¢ r¢mainin8 Staff r¢c¢iv¢d a g¢n¢ral pay award of Dlrectors l Trustees The DIreCr5. who served during the pcriod, ar¢ shown below and all are tntees. Amrit Virk- Chair Alan Daff¢m Deborah White ( resigned 2311012023) Ha1¢¢ Moat Rosina Singleton Cesar Alvarez (appointed 231101?023) Indemnity provlsloii for DlreLlur Indemnity insuranG¢ has been taken out for all Directors and Trustees for any potential claim risk to value of £2 Million (2023 £2,000,000).
OPTIONS FOR LIFE DIRECTORS, AND TRUSTEES. REPORT Responsibllltles of Director5 1 Trustees The directors are responsible for preparing the financial statements in accordance with applicable law and Unitrd Kingdom Generally Accepted Accounting Practice. UK company law r¢quirc5 the directors to prepare fmancial statetnents for each fancIaL year which give a true and fair view of the slate of affairs of Ihc company and of the SUTplus or deficit of the company for that period. In preparing those financial slalements. the directors are required to.. select Suitable accounting policies and then apply them Gonsist¢ntly- make judgements and estimates that are reasonable and prudent; state whether applicable UK accounting 5tandard5 have been followed,. and prepare the financial statements on tbe golng concern basis unles5 it i5 inappropriate to presume that the company will continue in business. The directors are responsiblc for maintaining proper accounting reLords which disclose with reasonable accuracy at any lime the financial position of thc company and to enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for the system of internal control, 5afcguarding the assets of the company and henGc for taking reasonable Steps for the prevention and detection of fraud and other irre8ulariCies. The financial statements have been prepared in accordance with the aecounting policies set out in note l of the financial s¢alemenls and comply with the charily's Memorandum and Articles of Association, applicable law and the rcquirernents of the Statement of Recommended PraGtice (FRS102), "Accounting and Reporting by Charitie5" (effeclive October 2019). In accordance with company18w. as the company dir¢ctors, we certify that.. so far as we are aware, there TS 710 Televant audit inforniation of which the company's auditor is un&ware: and as the director5 of the company we have taken all th¢ steps that we ought to have takcn in order to make ourselves aware of any relevant audii infomialion and to ¢stablish thai the ¢hariry's auditor is aware of that infomation. Audltor Felions look over from 2022123 the responsibility for direct audit support and auditor of the company accounts. Feltons were r¢-appointed by the Board in O¢tob¢r 2023 to ¢on¢inue as auditors for 2023124 and they opcrate in a¢Gordance with the Companies Act 2006 section 487(2). In prcparing this report, the Dircctors have taken advantage of the small companies exemption provided by section 415A of the Compani¢s Act 2006. Approved by the Board on 28 October 2024 and slgDed on its behalf by Rosina Singleton Treasurer of the Board of Trustees Nicola Thomson Chief Executive Officer
INDEPENDE AUDITOR'S REPORT TO THE MEMBERS OF OPTIONS FOR LIFE Opinlon We have auditcd thc financial statements of Options For Life (the 'Chitable company.) for the year ended 31 March 2024 which comprise thc Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notcs to thc [anCIal statements. including a summary of significant accounting policies. Thc financial rcw)rting framework that has been appli¢d in their preparation is applicable law and United Kingdom Accounting Stsndards, including Financial Reporting Standard 102 The Finapzcial Repoi'ting Standai'd applicable in ihe UK and Republic ofIi'eland (United Kingdom Generally Accepted Accounting Practice). In our opinion Ihe financial statements.. give a true and fair view of the slate of th¢ charitable Company's affairs as at 31 March 2024, and of its incoming resources and application of resources. including its income and expendittwe, for the year then have been properly prepared in accordance with United Kingdom Getierally Accepted Accounting Practice. and have been prepared in accordan¢¢ with the requirements of the Companies Act 2006. Basls for oplnlon We conduLled our audit in accordance with International Standards on Auditing (UK) (ISA5 (UK)) and applicable law. C>ur responsibilitie5 undcr those Standards are fiuiher described in the Auditor's responsibilities for th¢ audii of the financial staMentS section of our report. We are independent of the charitable company in accordance with the eihical requirements that are relevant to our audit of the financial 5talernents in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirement5. We belTeve that the audit evidence we have obiained is sufficient and appropriate to provide a basis for our opinion. Coneluslons relatlng to golng concern In auditing the financial slatemenls, we have Loncludcd that the trustees. use of the goin¥ conLern b8515 of accounting in the preparation of thc financial statements is appropriate. Based on the work we have perfunned, we h&ve not id¢T]lifi¢d any material unccrtainties relating to evenl$ or condilions that. individually or collectively. may cast significant doubt on the charitable ¢omp&ny's ability to continue as a going concern for a period of at least twelvc months from when the financial statements are authorised for issue. Our responsibilities and the responsibilitics of the trustees with respect to going concern are described in the relevant sections of this report. Other Inforrnatlon The other infomiation comprises the inforniation included in the Directors, and Ttustees. Report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other inforn)Rtion. Our OPTnion on the financial statemeT]ts does not cover the othcr infoTmation and. except to thc extent otherwise explicitly stated in our rcport, we do not express any fonn of assurance conclusion Ihcreon. Our rcsponsibility is to read th¢ other information an in doing 50, consider whether the other infonnalion is matcrially inconsistent with the financial slat¢ment5 QT our knowledge obtained in the ¢ourse of the audit or otherwise appears to be materially misstated. If we identify such material illconsistencies or apparent mal¢rial misslacem¢nts. we are required to d¢terniine whether thi5 gives rise to a material mi5Statement in the financial statements them5elve5, If, based on the ivork ive have perfornied, we con¢lude thot there IJ o matcriol m1ogthtcmit of this other inforniation, w¢ are required to report that fact. We have nothing to report in this regard.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OPTIONS FOR LIFE Opinions on other matters prescrlbed by the Companles Act 2006 In our opinion. b&sed on the work undertaken in the Course of the audit.. the inforniacion given in the Directors. and Trusiees, Report for the financial year for which ihe financial statements are prepared is consistent with the financial statements. and the Dire¢tors' and Tnjstecs. Report has been prepared in accordance with applicable legal requirernents. Matters on whleh we are required to report by exceptlon In the light ol our knowledge and understanding ot" the charitable company and its environment obtslned in the course of the audit, we have not identified material missiatsments in the Directors, and Trustees, Report. W¢ have nothtng to report in respect of the following matters in relation lo which the Companie5 Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept; or rebjrns adequate for our &udit have not been received from bran¢hes no¢ visited by u5. or the financial statements are not in agreernent with Ihc accounting rccords and returns; or certain disclosurcs of directors. remuncration specified by law are not made.. or we have not received all the information and explanations we require for our audit. or the ttijstees were nut enliil¢d lo prcpare the fanCial slatements in &ccordance with the small companies, regirne and take advantage of the small companie5, exemptions in preparing the Directors. and TNstees' Report and from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the Irustees. responsibilities sialement scl out on page 7 the trustees {who arc a150 the directors of the charitable company for the purposes uf company law) are reèiponsibl¢ for th¢ preparation of financial statements and for being satt'sfied that they give a true and fair view, and for such internal control as the trustees dclerniine is necessary to enable the preparation of financial statements that are free from material misstalemenL whethcr due to fraud or error. In preparing the financial stalemenls, the trnstees are responsible for assessing che charitable company's ability to ontinue as a going concern. disclosing, as applicable, malters related io guing concern and using the going concern basis of accounting unless the trustees either intend to liquidatc the charitable company or to cease operations, or have no r¢alisti¢ altemaiive bul to do so. Audltor's responslbllities for the audlt of the flnAnclal stAtements Our objectives arc to obtain reasunable assurance about wh¢th¢r the financial statements as a whole Bre free from material misstatement, whether duc to fraud or crror, and to issue an auditor'5 Teport that includes our opinion. Reasonable a&SUrnCe is a high level of assurance, but is noi a guarantee that an audit conducted in accordance with ISAS IUK) will always detect a malcrial misstatcment when it exists. Misstatements can arise from fraud or error and are considered mal¢rial if. individually or in the aggregate, they could reasonably bc expeclcd lo influence the e¢onomTC decisions of users taken on the basis of these financial statements. Iegularl11eS,. including fraud. are instances of non-compliance with laws and regulations. We design procedur¢s in line with our respon5ibilitigs, outlined above, to detect material misstatcrnents in respect of iegul74rit1cS. including fraud. The extent lo which our procedur¢5 are capable of detecting irregularitie5, including frBud 15 detailed below: We r¢viewed the charitable cornpany's control and risk rnanag¢m¢nt pro¢edur¢s and planned our work based on our aoGoJomont of Ihosc contro13 ond proccduycs. This review included an assessment of the risk of material misstatement due to errors, fraud and management overrtde of controls for all material areas in the financial staiemenls; We made enquiries of management and the charitable company's lawyers regarding any acal or potential litigation andlor claims,. Financial statements disclosures were reviewed and Ghe¢k¢d for Compliance with applicable laws: Detailed testing was conducted on balance5 and transactions includin(y unusual itern5 and those of individuaI significance to the financial statements. Data analytics were used in order lo identify unusual or significant trends. Communications with manageLnent and thos¢ charged with governance regarding relevant matters was undertaken IhiDughout the audit and on completion.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OPTIONS FOR LIFE Audltor's responsibilities for the audit of the financial statements {contfinlled) Because of the inherent limitations of an audit, there is a risk that we will not detect all i¢glaritIes. including those leading to a material misstatement in the financial slalements or non-compliance with regulalion. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we will be less likely to become aware of insiances of non-compliance. The risk is also greater regarding irregularities occuning due to fraud rather than error. as fraud involves intentional concealmen4 forgery, collusion. omission or misrepresentation. A further description of our responsibilities for the audit of the fmancial statements is located on the Financial Reporting Council's website at vnvw.frc.org.uklauditorsresponsibilites. This descripiion fomis part of our audiior's report. Use of our report Thi5 report is made sol¢ly lo the charitable company's members, as a body, in accordance with Chaptcr 3 of Parl 16 of the Companies Act 2006. Our audit work has been und¢rtaken so that wc might slate lo the charitable company's members thosc matters we are requTr¢d to state lo them in an auditor's report and for no other purpose. To the fullest exicnl pemiitted by law. we do not accept or assume responsibility lo anyone other than the charitable company and the charitsble company's members as a body, for our audit work. for this report, or for the opinions we have formed. Davld W Farnsworth FCA (Senlor Slatstory Audlior) For and on bchalf of Feltons. Staiutory Auditor 8 Sovereign Court 8 Graham Street Bimingham Bl 3JR io
oFrioNS FOR LIFE STATEMENT OF FINANCIAL ACTlVtTtES (incorporating Income and Expenditure Account) For the year ended 31 March 2024 Restrlcted funds Deslonated funds Unrestrlcted fund5 Total fund5 2024 Total funds 2023 Notes Income from: Donations & legaLI¢S Charitable activities Other trading activities Investsnents 4,13S 1.597.987 13J61 16,557 1,632,040 4.135 1,640,806 13J61 16.557 1,674,859 8.155 1.446.723 16,053 5,384 1,476,315 42,819 42,819 Expendlture on: Charitable activities 3, 11 26,705 26,705 1.697,626 1.697,626 1,724J31 1,724,331 1.693,981 1,693,981 Net income / (exp¢nditurc) 16,114 (65,586) (49,472) (217,666) Transfer betwefflj lldS 12 (305,000) 305,000 Net movement in fimds 16,114 (305,000) 239,414 (49,472} (217,666) Reconcillatlon of fund$: Total funds brought forward Total funds carried forward 22,433 38,547 705,000 400,000 1,340,476 1,579,890 2,067,909 2,018,437 2.285,575 2,067.909 The notes on pages 14 to 24 fonn part of these financial statements. Ther¢ were no recognised gains or105SeS Other than those in the Statement of Financial Activities. All surpluses are a result of continuing activities as one-off activitie5 are structured so as to produce no surplus or deficit.
OPTIONS FOR LIFE BALANCE SHEET As t31 March 2024 Company No. 3341420 Notes 2024 2023 Fixed as$ets Tangible a5S¢tS 1,165.653 1,192,674 Current assets Debtor5 Tnvestments C&8h 4t bank and in hand 140.560 255,900 496,228 892,688 203,266 135,002 572,066 910,334 LiRbilltles Creditors.. Amounts falling due in less than one year Net current assets 10 (39.904) {35,099) 852,784 875,235 Total 53ets 2,018,437 2.067.909 The Funds ofthe ch4rlty Reslrlcted funds 38,547 22,433 Unreslrlcted funds D¢51&t¢d fimds Unrestricted ndS 12 12 400,000 1,579.890 2,018,437 705,000 1.340,476 2,067,909 These financial statements have been prepared in accordattce with the special provisions relating to companies subject to the small companie5 regime within Part 15 of the Companies Act 2006. Approved and authorlsed for155u¢ by the Bo4rd on 28 October 2024 and Signed on thelr behalf by: Rosina Singleton Treasurer of the Board of Trnse8. Nicola Thomson Chief Executive Officer. The note5 on pages 14 to 24 forni part of these financial s¢a¢ements. 12
OPTIONS FOR LIFE CASH FLOW STA TEMENT As at31 March 2024 Company No. 3341420 2024 2023 Cash IloM frOm0rating Ictltles. Nel cash used in operd(ing aciNiiies 47,808 1303,440) C floM5 from insti]Ig ¥tliltle5: Divtslend5, nileresl and rent frominvcslnrDIs Proceeds fromlhe sile of inv¢51rttll15 lknr¢hase ofinveslnMts PUh85¢ ofproperty, plant and equllnI Nel cash provNJed by illveiling activities 16J57 85002 (205,900) 119 JD5) (123,646) 5,385 111,930) 16,545) Re¢onciliatiffl of nel cjjh 1]owtorNJMelltin fvnth CThange in cash and ¢ash equivalenls in the year Cash and cash equivalents ai l April Cash and cash equivalents at 31 March {75,838) 572166 496228 I3,985) 882.051 572,066 Reconcili1 of next nmimenl In funth to net ¢uh tt10fr(WnarIg tttte5 Nel VenL in fjjnds forihe yeu ¢nded 31 March 2024 (49,472) (217,6051 Adjustmeots for: ttpre¢talion DivNlcnd5, llileresl and r¢nl fromlliveslnKnls Decrease l (Incre&sel lli debtor5 Increase/ (E*crc8sel in other creditors Net ¢h used in (pradng ictiiitie5 46J26 116,5571 62,706 4,806 47,809 4&StM) {5,385) {57,489) (71,701) 1303,4401 Analysis of th andcash eqlliwlents Noiice deposits {up to 3 mnlhsl Cash in hand 295348 IDO,980 496228 326,584 245,482 572,066 C2sh and cash equivaIenls 13
OPTIONS FOR LIFE NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Accounting pollcles Options for Life in incorporated as a company limited by guarantee, registered in England and Wales (No. 3341420) Basis of Aceountlng The financial statements are prepared under the historical cost convention. in accordance with Accounting and Reporting by Charities- the Statement of Recommendcd Practice applicable to ChitIeS preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102) {effective l January 2019) (Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRSI 02) and the Companies Act 2006. Income Income is predominantly grants, charitable service ¢onira¢rs and in¢omc from social busincss activities and is recogniscd in the Statcment of Financial Activities when received or on compl¢tion of the delivery of the ScIfI¢d lern15 of Ihc Service Level Agreement. Expendlture All exp¢nditur¢ is accounted for on an a¢cNals basis and is rccognised where there is a legal or conslrnctive obligation lo pay. Expenditure has been classified under headings that aggryegate all costs related to that category. Charitable expendimre comprises those cost5 inCued by the Lharity in the delivery of its artivities and includes both the direct and support costs relating to these aclivilics. Support costs ¢onsist of central administration and property costs. These are disclosed in more detail in Note 4. Governance Govcrnance costs of the rh&rity include those costs associated wilh meeting the constitutional and Stal0ry requirements of the charity and include audit fees V4nd costs linked to the strategic m&nagement of the charitable company. Details on governance cosls are shown in Note 4. Fund Accounting Unrestricted funds are available for use at the discretion of the tNstees in the fjjriherance of the objectives of the Ch&rily unles5 the ndS have been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular puJpose$ or to meet ponlI financial risks or pressures that the charity may face. R¢stricted ndS are subjcct to specific lenns and Conditions by donors as lo how they may be used. Grants and donadons Grants and donalions are only included in the Statement of Financial Activities when the charity has unconditional entitlement to the resources. Don#ttd servlces and fA¢lll¢les These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurablc and material. The valu¢ pled on these resources is the estimated value lo the charity of the service or facility received. Judgments In applylng accounting policies and key source5 of estimation uncertalnty Th¢ charity rnakes estirnates and assumptions conceming the ture. The resulting accounting estimates will. by dcfInition, seldom equal the related actual results. The trusl¢e5 confinn there are no estimates and assumptions that have a significant risk of causing a material adjustment to the canying amounts of assets and liabilities within the next fmancial year. 14
OPTIONS FOR LIFE NOTES TO THE FINANCIAL STATEMENTS For the yegr ended 31 March 2024 Accounting policies {eontlnued) Value Added Tax VAT has been treated as irrecoverable by the ChaLity. due to the scale and type of activities being regarded as exempt. To ensure the charity compiles with HMRC'S rcgulalory rcquircmcnts both the sources of income and the aggregate amounts that could constitute vatable Supplies. ale frequently reviewed. Tangible fixed 2$sets and depredatlon Tangible fixed as5ers for use by the charity are staled at C05t less depreciation. Since April 2019 individual it¢ms costing less than £5.000 are wriiien off in the Sialemenl of the Financial Activities. Depreciation is provided al rdles calculated to write off the cost les5 estimated residual value. over their expected usefiil lives. Office equipment Motor vehicles 251J/o on a slraighi line basis 250/0 on a straight line basis Building- Lcasehold 10 /0 on a straight line basis Building- Freehold 29/0 on 8 Straight line basis Freehuld land is not depreciated Penslon costs The charity fulfill¢d its legal obligation in adopiing the Govcmments Workplace Pension Scheme Auto- Enrolment in October 2014 integrating this Wlth the dcfin¢d contributions pension scheme that was already part of the rcmuneration policy. Those employees who have opted for the minimum contribution of 50/0 of pensivnable salary under aulo-enrolrn¢nt rules enjoy an employer's contribution of 4Q/o. this increases lo 50/0 after l O year5 service. Employee Benellts The cost of any unused holiday enlitlemenl is recogniscd Én the period in which the ernployee's services are received. Terniination benefits are recognised immediately as an expense when the Charity has committed to tem)ina the employment of an employee or to provide lennination benefits. Golng ¢oneern Ai the time of preparin8 the financial s¢atement& the trustecs have a reasonable cxpeciaiion that the Chariry has adequate resources lo continue ils operational ¢xi8*nce for the fores¢eablc futur¢. There are no other material uncertainties that may cast a significant doubt about the Charity's ability to continue as a going concern. Therefore, the accounts have continued to be prepared on the going concern basis of accounting.- There will be continuing fulure challenges to be faced by the Charity. The Board are reviewing the strategic direction of the Charity and the agreed business plan and model will look ¢0 deliver both continuing but new and flexible ways of service delivery. Liability recognition Liabilities are recognised as soon 85 there is a legal or constructive obligation Gommttting the charity to pay out resources. Operating leases R¥iiLdl L'UYLS lld operng leaxeg are Charged 10 the Itieome expettd1ne account In equal Èmnuul amounts over the period of the lease. Cash and cash ¢quivalents Cash i5 repsellted by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mathre in no more than Ihiec months from the dat¢ of acquisition and that arc readily ronvcrlibl¢ lo known amounts of cash with insignificant risk of change in value. 15
OPTtONS FOR LIFE NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 2 Ineom¢ 2024 2023 Restricted Income Charlt*ble aedvities Sandwell Council Boshier Hinion Foundation Bruce Wake Trust Solvay Community Prize Owen F&mTly TTU5t David Solomans Tnjst D'oylcy Carte Charitablc Trust Patrick Trust scvo Creative Black Country Pedmore Sporting Club Geoff Hill Charitable Tnt Will Charitabl¢ Tnt Dou¥las Turner Trust Beatrice Laing Charitable Fund Eveson Trust Arnold Clark Comniunity Fund Morrisons Foundation Tcsco Community Grants Bally Thomas Charitable Fund Finnis Scott Foundation Grimmitt Trust 13,579 2.000 2,000 2,415 I,0 750 1.856 2.000 3,000 1,000 5110 1,825 1,000 250 8.OIMI 3,000 2.500 5,940 2,000 2.661 1.495 3,109 1.000 1,200 Total reslricl¢d income from charitable aGiivilie5 42,819 21,261 Unrestrlcted Income Ch4rltable activitles Adult 50¢ial care- Sandwell MBC Direct payments NHS Black County ICB One to One Support- Sandwell MBC Total unrestricted income from charitable activities 1,151,155 301,817 135,812 9,203 1.597.987 989 ?06 294.093 132.987 9,176 1 ,425,462 Total income from cbwitable activities 1640 806 1446 723 Other trading aertvitles Income Activities, fund rdising and sales of work Insurance settlemcnt Room hire charges sUlUs on disp05al of assets 13.061 10.108 5.725 300 220 16.053 13,361 16
oprtONS FOR LIFE NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 3 Expenditure 2024 2023 Charitable Service Operatlon*l Costs Direct staifing costs Indirect staff related costs Premises. repairs and nmning costs Cleaning, personal protective equipment and waste disposal Vehicle and trdn5POrt costs Activities and materials IT and offtce costs Depreciation ¢05ts 1,076,768 17,203 37J62 10,959 56J45 66,442 13,101 36,017 1,032,867 8,790 38.246 9.921 52.588 46,815 11,962 37.397 Total charitable operational costs lJ14,197 ,238,586 Management and Support Costs Govemance costs Total charitable expendire 367368 16,161 1,697,626 380,231 40,948 1.659,765 17
OPTIONS FOR LIFE NOTES TO THE FllYANCIAL STATEMENTS For the year ended 31 March 2024 Expendlture- Charitgble activitles 2024 2023 Management support costs Salari¢s Staff reeItm¢nt, training. travel, other Office costs Exlemal professional support Equipment depreciation Vehicle costs Premises related costs 257,656 6,169 55,938 17.628 3,684 4.007 22.186 367,268 262,272 10,100 66,722 15,471 4.641 2.450 18.575 380.231 Governance eo5ti 2024 2023 Audit Other insurance costs Bank charges Professional & consultancy fces Trustee expenses and associated costs Miscellaneous 6,660 3,367 1,894 2.598 1,642 33.778 4.152 1,693 807 94 424 16,161 40.948 18
OPTIONS FOR LtFE NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Staff ¢o$ts 2024 2023 Wages & salaries Social security ¢OSts Pension costs 1,21A742 7S,990 36,478 1,329,210 1.174,413 73,897 36,208 1.284.518 Number Number Th¢ average monthly nwnber of staifemployed by the charity during the year was as follow5.. Adminislralive Project based 10 56 66 56 65 Employer beneflts to Senlor Management Team Members During the year to 31 March 2024 payThentS to key members of Ihc management team in the forni of salary and pensions amounted to £154.757. This compares with £154,260 for the prtor year. There was one employee whose Rnnual emoluments were £60,000 or more. Termlnation Payments In 202312024 th¢r¢ were no lerniination payments to fornler employees. There had also b¢en no I¢niDation payments in 2022123. Payments to Dlrectorsrrru8te¢$ The trustces neither received nor waived any emoluments during the year (2023.. £nil). In 2023124 there were total expenses re-imbursements of £589 to trustes. In 2022123 there had been payments of £94. 19
OPTIONS FOR LIFE NOTES TO THE FLYANCIAL STATEMENTS For the year ended 31 March 2024 Tanglble fixed #s$ets for use by the charity OlCe equlpment I Ilxtures & rittinRs Freehold properties Leasehold Improvements Vehlcles Total Co$t As at l April 2023 1.585,963 34,172 l99.094 22,700 1.841,929 Additions Disposals As at 31 March 2024 8.806 10,499 19,31bS 1.585,963 34.172 207,900 33.199 1.861,234 Depreclatlon As at l April 2023 441258 12,623 172.674 22,700 649,255 Charge for the year Disposals As at 31 March 2024 27.521 3,417 15,169 219 46J26 468,779 16,040 187.843 22,919 695,581 Net Book Value As at 31 March 2024 1.117,184 18,132 20,057 10,280 1,165,653 As at 31 March 2023 1,144,705 21,549 26.420 1.192.674 Land at cost carried forward £210.000 is noi depreciated (2023 - £210.000) 20
OPTIONS FOR LIFE NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Debtors 2024 2023 Trade debtors Prepayments & sundry debtors 117.966 22,594 140,560 132.765 70.501 203,266 Investments 2024 2023 Market value brought forward Additions to investments at cost Disposals ai carrying value Market value as at 31 March 135,002 205.900 (85,002) 255,900 135.002 135,002 Comprised: Investments ai fair value comprised Cash on deposit 2SS.900 135,002 Bank And eas 2024 2023 Bank accounts P¢ty cash 491,984 567,224 42 572,066 496,228 io Creditors: Amounts f4lllng due in less than one year 2024 2023 Trade creditors Accrued expenses Tax and social security Pensions 3,615 12,99S 17,500 5,794 39,904 8.257 13,153 13.689 35,099 21
OPTIONS FOR LIFE NOTES TO THE FIIYANCIAL STATEMENTS For the year ended 31 Msrch 2024 11 Restrictive Funds External Grants l Aprll 2023 Intome ellditure 31 March 2024 Bruce Wake Tst Grimmit Trust Solway Community Prize Owen Famil Trust David Solomans Trnst Carte Charitable Trnst Patrick Tru.%t Boshicr Hinton Foundation 275 1.200 2.000 1275) (1.200) 1741 2.000 2.415 1.000 750 3,000 1.000 2.000 500 1.825 1.000 250 13.579 8.000 3,000 2,500 2.241 1.000 750 198 (198) (500) (1.825) 1,000 scvo Creative Black Coun Pcdmorc S ortin Club Geoff Hill Charitable Trust Sandwell Council Will Charitable Trust er&Dou las Turncr Trust Bcatric¢ Lain TNst Morrison8 Foundation Finnis Scott Foundation Clothworkers Foundation Edward Gosilin Foundation Bail Thomas Charit&ble Fund 250 7,987 6,722 168 3,168 1208 1865 (271 5,062 355 (2.339 865 271 7,673 2,277 9.506 2.611 Total restricted funds 38.547 Further Informxtlon on all funds held during 2023124: Bruce Wake Tlust To fund participant theatre trips. in particular for thosc re uirin wheelchair llcces5 Thxs is funding all towards new equipment and renovation of a sensory gardcn at Acorn Lodge Grimmit Trust, Solvay Community Prizc, Owen Family Trust, David Solornans TrusL D'oyley Carte Trust. Patrick Trust, Boshier Hinton Foundation scvo Crcative Black Count Pedmore S ortin Club Geoff Hill Charitable Trust Sandwell Council Towards arties or aniscd for the Kin 's coronation Towards thc musical ro ect 'Let'5 Get L rical, Purch&se of new a e curlin sets Contribution towards 'Sin To ether, musical ro ecl Gran¢ of £8.579 for sessions to ¢nhance mental health and well_bein ant of £5 000 for ncw di ital c menl. To purchasc additional musicRI equipment for scssions. Will Charilable Trust and Roger and Douglas Tumer ChY4Titable Tnjst B¢atrice Lain Trust Morri50n5 Foundation Finnis Scott Fuundation CoT]tribution toward5 the urchase of a new re lacement car Contribution towards a new b¢aul salon for activities To support thc "Grcen Ftngered" proj¢cl for a local allotrn¢nt lot Prior year purchase of music and sensory equipment at Acorn Lod -nowde reciacion costs Prior year wet room improvements at the Ashes centre - now reciation costs Prior year sUPPOrted living flat renovation at Ashes centre now de reciation Costs Clothworkers Foundation Edward Gosling Foundation Bally Tbomas Charitable Fund 22
OPTIONS FOR LIFE NOTES TO THE FiNANCIAL STATEMENTS For the year ended 31 March 2024 12 Unre5tri¢ted fuDds Unrestricted ¢apilal fjjnds brought fonvard I J40,476 1,477,187 Movement for the year Transfer from tksignated Funds Unrestricted funds Caled forvard (65,586) 305,000 1,579,890 (204,711) 68,000 1.340.476 12 Deslgnated funds 2024 2023 Designated fijnds brought forward Movement in the year Total designated funds rarricd fonvard Tot¥1 unrestricted funds 705,000 (305.000) 400,000 1,979,890 773,000 (68,000) 705.000 2,045.476 13 Analysls of net assetj between funds TAn¥lble tlxed Other net asietsl assets Ilabllltt Totsl RMtrl¢ted 38.547 387 Unrestrlcted funds Designated funds Unrestricted funds 400.000 414,237 852,784 400,OIM 1,579.890 2,018,437 1.165.653 1,165,653 14 Commltment5 under operatlng leases At 31 March 2024 the Company had commitmcnts under non-cancellablc Ica5cs in r¢5pect of photocopiers: 2024 2023 Wiihin one year Within two to five years 7J19 6,675 13,994 16.523 15,232 31,755 23
orrioNs FOR LIFE NOTES TO THE FINANCiAL STATEMENTS For the yegr ended 31 Mareh 2024 15 Related party transactions There were no transactions in 2023124 involving payments lo a business with connections to either the trustees or other senior charity employees. In 202J23 there was one related paty payment of £333. Post balance sheet events 16 There are no other events that ocCUed after 31 March 2024 that are likely to significantly change what is presented in Ihe financial staiements or havc an impact upon the of th¢ organisation &$ a going concern. Penslon Commltments 17 The Charity operates a defined contribution scheme. The assets of the scheme are held Separately from those of the Chariry in an independcntly adrninistered fund. The pension cost represen(s contributions payable by the Charity lo the nd and amounted to £36,478 (2023 £36.208). At 31 March 2024 there were total staff and employer contributions of £5,794 outstanding io be paid r¢Lating 10 2023124. 18 Statement of flnancial actlvltles 2023 Reslricled fimds Desigmated fid$ Unrcstricted funds Total funds 2023 Notes Income from: t)onations & legacies Charttablc activities Other trading activities Invc51ments 8.155 1.425.462 16.053 5,384 1.455,054 8,155 1,446,723 16,053 5J84 1,476J15 21,261 21,261 Expendltsr¢ on: CharÉtsble activitics 34,216 1.659,765 1,693,981 Nel (expenditure) l in¢ome (12,955) {204,711) (217,666) Transfer between fijnds (68,000) (68,iJ)O) Net mov¢ment in fijnds (12,955) {68,000) (136,711) (217,666) Reconcllt8tion of hnds: Tnlal ftinds broiighi fonvard Totsl fund5 carried forwaNI 35,388 22.433 773,000 705,000 1,477,187 1,340,476 2,285575 2,067,909 24