Charity number 1078984
Lifetimes Charity
Report and Financial Statements
31 March 2025
Lifetimes Charity Report and Financial Statements Contents
| Page | |
|---|---|
| Legal information | 1 |
| Trustees' report | 2 |
| Statement of directors' responsibilities | 9 |
| Independent Examiners' report | 10 |
| Statement of Financial Activities | 11 |
| Balance sheet | 12 |
| Notes to the accounts | 13 |
Lifetimes Charity Legal Information
| Status | The organization is a charitable incorporated organization | The organization is a charitable incorporated organization |
|---|---|---|
| Originally incorporated on 30th March 1999 and registered as a | ||
| charity on 17th January | 2000 | |
| Governing document | Memorandum and articles of association reviewed and adopted November 2022 |
|
| Registered office | 1 Park Road Hampton Wick |
|
| Kingston upon Thames | ||
| Surrey KT1 4AS | ||
| Charity Number | 1078984 | |
| Trustees/Directors | M Lane | Chair |
| N Gibson-Wilson | ||
| V Clark | Resigned 18th July 2025 | |
| I O'Reilly | ||
| Company Secretary | P Champion | |
| Chief Executive | P Champion | |
| Bankers | CAF Bank | |
| PO Box 289 | ||
| West Malling | ||
| Kent | ||
| ME19 4TA | ||
| HSBC | ||
| 73 Wandsworth High Street | ||
| London | ||
| SW18 2PT | ||
| Independent Examiner |
David Howard Chartered Accountants 1 Park Road Hampton Wick |
|
| Kingston upon Thames | ||
| Surrey KT1 4AS | ||
| Solicitors | Russell- Cooke | |
| 2 Putney Hill | ||
| London | ||
| SW15 6AB |
1
Lifetimes Charity
REPORT OF TRUSTEES YEAR ENDED 31 MARCH 202 5
INTRODUCTION
Lifetimes Charity is a Charitable Incorporated Organization - having changed its status in November 2021 from a charity and company limited by guarantee.
Lifetimes Charity was formerly known as Wandsworth Voluntary Sector Development Agency (WVSDA) and prior to that as the Wandsworth Volunteer Bureau. Established in 1978 and registered as a charity in January 2000 it has delivered many projects benefiting the voluntary sector in Wandsworth and individual residents.
In 2024 Lifetimes Charity merged the assets of Chances Charity (previously controlled by Lifetimes by a united directive) under an order obtained from the Charity Commission. Reflection of this merge is shown under movements of funds note 12 in the accounts.
OBJECTIVES AND ACTIVITIES
The Trustees have paid due regard to the activities and projects delivered by the charity to ensure that the aims of the organization are for the public benefit.
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Promoting any charitable purposes for the benefit of the community in the area of London and the Home counties. In particular, the advancement of education, the protection of health and the relief of poverty, distress and sickness.
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Providing grants via its numerous programs to individuals in need, other charitable organizations and hospitals.
Grants to individuals are provided via its partnership program working with specific charities to ensure its grants reach the clients identified by the charity.
2
GOVERNANCE STRUCTURE & MANAGEMENT
In order to ensure that Trustees of Lifetimes are able to meet their full commitment by giving priority to the charity, we appoint to the board on a skills and personal merit basis according to the direction of our business plan. Each trustee declares they are able to act as trustees and meet the Charity commission guidelines.
The selection program for Trustees includes an initial interview with the Chair of the Trustee Board and Chief Executive to explain the strategic and operational position and to set out the contribution expected from the prospective trustee. The Trustees then consider the applicants for membership to the Board.
Trustees are inducted by the CEO and supplied with a copy of the current Memorandum and Articles of Association, the charity's strategic plan, the most recent financial accounts, code of conduct and relevant trustee task descriptions.
Regular reporting and achievements of the Charity's operations identified no major threats to the long term viability of the charity in terms of threats to independence, resources etc. Having met and exceeded the results of the business Plan for 20162021 a new business plan was developed and approved by the Trustees in 2022. This business plan will be reviewed in 2025.
The Trustees delegate day to day responsibility for the operations of the Charity to the Chief Executive.
The Charity is governed by a Board of Trustees. The trustees held three virtual board meetings during the financial year.
The Chief Executive who also acts as Company Secretary is responsible for the day to day management of the Charity including investment of the charity's assets.
3
REVIEW OF ACHIEVEMENTS - public benefit
During the year the charity has expanded its grant programs . We have welcomed new partnerships with other charities aimed to widen the area of benefit and clients able to apply for grants. An impact report for April 2022- March 2025 has been compiled and is on our new website which was published in March 2025.
Kingston Hospital . Our work with the Kingston Hospital Charity continued and we provided 90 Christmas gifts for the elderly wards. Following in depth discussions Lifetimes will be funding the salary of a new staff member to work within the elderly wards to tackle the issue of deconditioning of inpatients. This funding will cover an 18 month period starting in May 2025 and is known as the Eat, Dress, Drink, Move project.
" I am really excited that with the support of Lifetimes Charity we are now able to take the learnings from the EDDM trial we conducted last summer and develop this campaign ward by ward, supporting patients to actively participate in their recovery by eating well, staying hydrated, getting washed and dressed in day clothes and footwear, and being as active as possible while in hospital. I would be grateful if you could pass our thanks to your board for their amazing support.
We appreciate this is a significant commitment for your organization and we look forward to working with you over the next 20 months or so to bring the work plan to life" - Caroline Hopper. Chief AHP KRFT Kingston Hospital
Royal Marsden Hospital - we provided 61 gifts to adult patients for Christmas 2024. " We can’t thank you enough for your generous support." Georgia Appleby - Royal Marsden Hospital.
Domestic violence partnerships . During the year we worked with 6 charities to grant fund essential items for clients leaving refuge and starting to rebuild their lives.
4
Disabled children and young persons . We received our first applications from the Dame Vera Lynne Children Charity to cover costs of treatment delivered to children with cerebral palsy.
During the year we gave funding for essential equipment and services to parents of disabled children via Achieving for Children and Barnfield Riding School.
Life Changing/life limiting diseases: We welcomed the Mikaere Foundation as a new partner during the year and will be funding their website and printing of literature in early 2025.
Homelessness. Funding for clients of CAYSH (young people) was given for laptops to assist clients to further their education through on-line courses and job. search.
We also welcomed our new homeless partner, South Croydon Benefice, and grant funded a twice weekly outreach for homeless people and a Christmas lunch and New Year gift parcel.
Ex Veterans project . Working in partnership with Walking with the Wounded, Lifetimes chances assisted approx. 56 ex veterans during the year. Purchases of equipment, funding for training and laptops, together with other essential items to assist ex veterans to rebuild lives after their service in the armed forces.
" I personally find the grants so useful and when I ask my veterans what they need to progress to employment I can always turn to Lifetimes". Jonathan Scott Laws - Senior IPS Employment Advisor.
5
Foodbanks . During the year we supported 5 food banks and a local community pantry with grant donations and goods.
" I can confirm receipt of the very kind donation from Lifetimes Chances Charity. Thank you so much for your support. This will make a big difference for many local people as we head into a difficult winter". Dan Frith Wandsworth Foodbank
FUTURE PLANS
The Trustees of Lifetimes charity will continue to review and expand its grant programs in areas of need where shortfalls from other funding or impact of cost of living is shown.
FINANCIAL CONTROLS
Lifetimes has written financial controls. These financial policies work with the charity’s other policies on grant funding, partnership agreements, safeguarding etc.. Delegated authority is given by the Board of Trustees to the Chief Executive to operate within the agreed annual budget.
Financial information for all the operations of the charity are regularly reported and monitored by the Directors and trustees
6
INVESTMENT POLICY
The investment policy is to maximize income whilst ensuring that adequate funds remain readily available. Effectively this means that any surplus funds are placed in interest earning accounts or in money market accounts until required. Surplus funds represent the reserves held (in accordance with the Charity's reserves policy) which are not required immediately to fund working capital requirements
During the year, the Charity made investments with several new financial institutions to safeguard its cash reserves and to maximize income. The increase in revenue is reflected in the accounts. Investments are managed by the Chief Executive and overseen by the Board of Trustees via regular reporting and management accounts.
FINANCIAL REVIEW
As an independent charity, the Trustees consider it prudent to hold reserves that can guarantee the achievement of its business plan and remain a going concern. The reserves held at 31st March 2025 were £5,223,958 (2024-£5,171,867)
RESULTS
The results of the year to 31 March 2025 recorded an overall surplus of £ 52,091 (2024 -£60,801)
7
INDEPENDENT EXAMINATION INFORMATION
Having made enquiries of fellow trustees and the auditors, each of the Trustees listed above, in office at the time of approving the trustees’ report confirms that: To the best of each trustee’s knowledge and belief, there is no information relevant to the preparation of their report of which the company’s auditors are unaware; and Each trustee has taken all steps a trustee might reasonably be expected to have to be aware of relevant audit information and to establish that the company’s auditors are aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of the Charities Act 2011.
INDEPENDENT EXAMINER
Brookfield & Co. were re-appointed as auditors at the annual general meeting in accordance with the Charities Act 2011. However, the company has re-organized its business and have ceased to offer audit services in 2025 and the Charity has appointed new auditors David Howard Accountants. From 1st August 2025 the Charity will change its registered offices:
Registered office: 1 Park Road, Hampton Wick, Kingston Upon Thames, Surrey, KT1 4AS
Signed by order of the Trustees
P CHAMPION
Company Secretary
8
Lifetimes Charity Statement of Trustees' Responsibilities
The trustees are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Charity law requires the trustees to prepare accounts for each financial year. Under that law the trustees have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the trustees must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the profit or loss of the charity for that period. In preparing these accounts, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
9
Lifetimes Charity Independent examiner's report to the members of Lifetimes Charity
I report to the trustees on my examination of the accounts of the charity for the year ended 31 March 2025 which are set out on pages 11 to 17.
Responsibilities and basis of report
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
I report in respect of my examination of the Trustee’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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(1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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(2) the accounts do not accord with those records; or
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(3) the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: …………………..........................
David Howard Chartered Accountants 1 Park Road Hampton Wick Kingston upon Thames Surrey KT1 4AS
06-Nov-2025 Dated: ....................
10
| Lifetimes Charity | |||||
|---|---|---|---|---|---|
| Statement of financial Activities | |||||
| for the year ended 31 March 2025 | Unrestricted Restricted | Total | Total | ||
| Notes | 2025 | 2025 | 2025 | 2024 | |
| £ | £ | £ | £ | ||
| INCOMING RESOURCES | |||||
| Activities for generating funds Investment income |
125,804 | 23,552 | 149,356 | 97,365 | |
| Other income | 175 | - | 175 | ||
| TOTAL INCOMING RESOURCES | 125,979 | 23,552 | 149,531 | 97,365 | |
| RESOURCES EXPENDED - Costs of generating funds | |||||
| Costs of generating voluntary income fundraising | 3 | - | - | - | - |
| Charitable expenditure: | |||||
| Charitable activities | 4 | 47,984 | 38,712 | 86,696 | 48,839 |
| Governance | 5 | 2,435 | 712 | 3,147 | 1,260 |
| TOTAL RESOURCES EXPENDED | 6 | 50,419 | 39,424 | 89,843 | 50,099 |
| NET INCOMING RESOURCES BEFORE TRANSFERS | 75,560 | (15,872) | 59,688 | 47,266 | |
| Unrealized Gains/(Losses) on Investment assets | (1,879) | (5,718) | (7,597) | 13,535 | |
| Transfer between funds | 1,550,652 | (1,550,652) | - | - | |
| Net movement in funds | 1,624,333 | (1,572,242) | 52,091 | 60,801 | |
| Reconciliation of funds | |||||
| Balances brought forward | 3,599,625 | 1,572,242 | 5,171,867 | 5,111,066 | |
| Total funds carried forward | 5,223,958 | - | 5,223,958 | 5,171,867 |
11
Lifetimes Charity Balance Sheet as at 31 March 2025 2025 2024 Fixed assets Fixed asset investments 163 056 Currént assets Debtors Cash at bank and in hand 10 3,543 5,070,209 6,431 5.004.141 5 073 752 5 010 572 Creditors: amounts falling due within one year 11 Net Gurrent assets 5,068,498 5,008,811 Total net as80ts 522395 5 171867 FUNDS RestrlGted Incomo 12 1.572,242 Unrestrlctod Designated funds General Funds 20,741 23,880 5,203,217 3,575,745 Total funds 5.223,958 5,171,867 The acGounts have been prepared usin9 the exemption in FRS 102, paras 1.8 to 1.13 from inGluding a cash flow statement in the financial statements on the grounds that the charity is small. l Lone Trustee Approved by the board on 6tr1 November 2025
Notes to the Accounts for the year ended 31 March 202 5
Lifetimes Charity
Accounting policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, as modified by the valuation of investments at market value, in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019 and the Charities Act 2011 and UK generally accepted practice as it applies from 1 January 2019.
The trustees considers that there are no material uncertainties about Lifetimes Charity's ability to continue as a going concern.
Cash flow statement
The trustees have taken advantage of the exemption in FRS 102, paras 1.8 to 1.13 from including a cash flow statement in the financial statements on the grounds that the charity is small.
Donations
Donations and other voluntary income are accounted for when received.
Grants
Grant income is recognized in the period to which the grant relates
Resources expended
Expenditure is recognized on an accrual basis as a liability is incurred. Expenditure includes all VAT which cannot be recovered.
Governance costs include direct costs relating to external audit, legal fees, and a proportion of direct salary costs of staff involved in the governance of the charity. The salary item represents the cost of the Chief Executive preparing, attending and following up on issues surrounding the Charity’s Board of Trustee meetings, annual strategic review production and the Annual General Meeting.
Salary costs are allocated to activities on the basis of time spent and original funding conditions. All other costs are allocated between the categories of project expenditure on a basis designed to reflect and comply with the original funding conditions.
Fund accounting
Lifetimes operates a number of restricted and unrestricted funds. Restricted funds can only be used for a particular restricted purposes as specified by the donor. Funding received to deliver the main objectives of the charity is unrestricted. Details and movement of funds are shown in notes 12 and 13.
.
13
Lifetimes Charity Notes to the Accounts for the year ended 31 March 202 5
3 COST OF GENERATING FUNDS
| Staff costs CHARITABLE ACTIVITIES Provision of charitable services: Staff costs Grants outwards Support costs: Support costs GOVERNANCE Staff costs Audit fees charity Trustees’ expenses Legal and Professional |
Unrestricted Funds £ - - Unrestricted Funds £ 9,465 __ 47,984 Unrestricted Funds £ 850 1,460 125 - 2,435 6,228 32,292 |
Restricted Funds £ - |
Total Funds 2025 £ - - Total Funds 2025 £ 11,187 86,696 Total Funds 2025 £ 1,562 1,460 125 - 3,147 11,782 63,728 |
Total Funds 2024 £ - |
|---|---|---|---|---|
| - | - | |||
| Restricted Funds £ 1,722 5,554 31,436 |
Total Funds 2024 £ 6,858 6,252 35,729 |
|||
| 38,712 | 48,839 | |||
| Restricted Funds £ 712 |
Total Funds 2024 £ 840 (138) 558 - 1,260 |
|||
| 712 |
4 CHARITABLE ACTIVITIES
5 GOVERNANCE
6 TOTAL RESOURCES EXPENDED
| Direct charitable expenditure Governance |
Staff costs Grants paid and other costs Total Funds Total Funds £ £ 2025 2024 11,782 1,562 74,914 1,585 86,696 48,839 3,147 1,260 |
|---|---|
| 13,344 76,499 89,843 50,099 |
14
Lifetimes Charity
Notes to the Accounts
for the year ended 31 March 202 5
The aggregate staff costs were:
| The aggregate staff costs were: 2025 2024 £ £ Wages and salaries 13,344 7,092 13,344 7,092 7 TRUSTEE REMUNERATION AND RELATED PARTY TRANSACTIONS One Trustee received remuneration of £990 for project work. (2024: £315) 8 9 FIXED ASSET INVESTMENTS 2025 £ 2024 £ COIF investments 155,459 163,056 TOTAL AT 31 MARCH 2025 155,459 163,056 Market value of COIF investment is shown at rate confirmed by CCLA investments at 31stMarch 2025. 10 DEBTORS Other debtors Particulars of employees: The average number of staff employed by the company during the financial year amounted to 2025 2024 £ £ Chief Executive 1 1 Project staff - - Administrative staff - - Totals 1 1 OPERATING SURPLUS/(DEFICIT) Operating surplus/(deficit) is stated after charging 2025 2024 £ £ Staff pension contributions - - Auditors’ remuneration (1,460~~)~~ ~~1,32~~0 2025 £ 2024 £ 3,543 6,431 3,543 6,431 |
2025 £ 13,344 |
2024 £ 7,092 7,092 2024 £ 1 - - |
|---|---|---|
| 13,344 | ||
| 1 |
15
Lifetimes Charity Notes to the Accounts
for the year ended 31 March 202 5
11 CREDITORS: amounts falling due within one year
Other creditors
| 2025 £ 5,254 5,254 |
2024 £ 1,761 |
|---|---|
| 1,761 |
12 MOVEMENTS IN FUNDS
| RESTRICTED FUNDS Chances Total restricted funds UNRESTRICTED FUNDS Designated funds ICT Project development General free reserves Total Unrestricted Funds TOTAL FUNDS** |
Balance at 1 Balance at 31 April 2024 Incoming Outgoing Transfers March 2025 £ £ £ £ £ 1,572,242 23,552 (45,142) (1,550,652) - |
|---|---|
| 1,572,242 23,552 (45,142) (1,550,652) - |
|
4,870 - (2,149) 2,721 19,010 - (990) 18,020 |
|
| 23,880 (3,139) 20,741 3,575,745 125,979 (49,159) 3,652,565 |
|
| 3,599,625 125,979 (52,298) 1,550,652 5,223,958 |
|
| 5,171,867 149,531 (97,440) 5,223,958 |
** During the financial year,Chances assets were merged with Lifetimes under Charity Commission approval.
16
Lifetimes Charity Notes to the Accounts for the year ended 31 March 2025
13 NAME, NATURE AND PURPOSES OF FUNDS
PURPOSES OF RESTRICTED FUNDS
Chances Following the merge of the assets of Chances under an order by the Charity commission, the accounts at year end reflect the transfer of funds to Lifetimes Charity
PURPOSES OF DESIGNATED FUNDS
ICT This fund has been designated to be used for future purchase and refurbishment of ICT equipment to ensure that systems used by the charity are adequate to needs. During the year computer equipment was purchased and is reflected int the fund
Project development. This fund is to develop future business projects in line with the 5 year business plan agreed February 2022.
14 ANALYSIS OF NET ASSETS (between restricted and unrestricted funds)
| Fixed asset | Other net | |||
|---|---|---|---|---|
| Investments | assets | Total | ||
| £ | £ | £ | ||
| Restricted funds | ||||
| Unrestricted funds | ||||
| Designated funds: | ||||
| ICT | 2,721 | 2,721 | ||
| Project development | 18,020 | 18,020 | ||
| General free reserves | 5,203,217 | 5,203,217 | ||
| Total unrestricted funds | 5,223,958 | 5,223,958 | ||
| Total Funds | 5,223,958 | 5,223,958 |
15 OUTSTANDING GUARANTEES GIVEN BY THE CHARITY
There were no guarantees given by the charity during the year
16 OUTSTANDING DEBT
There is no outstanding debt at the end of the year which is subject to a charge on the Charity's assets.
17