**REGISTERED COMPANY NUMBER: 05763547 (England and Wales) REGISTERED CHARITY NUMBER: 1115262**
**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **FOR**
## **LIFE ASSOCIATION LIMITED**
Rushtons Chartered Accountants Avroe House Avroe Crescent Blackpool Business Park Blackpool Lancashire FY4 2DP
**LIFE ASSOCIATION LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6 to 7|
|**Notes to the Financial Statements**|8 to 13|
|**Detailed Statement of Financial Activities**|14|
**LIFE ASSOCIATION LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The principal purpose of Life Association Limited is to reach and serve the poorest of the poor in India, with the hope and love of Jesus Christ. We do this in both word and deed. Our work has a particular focus on supporting children and young people.
Our aims and objectives are delivered through developing partnerships with local churches and Christian leaders in India. Together we provide safe and loving Christian children's homes for orphaned and part orphaned children and young people who would otherwise be vulnerable to neglect, malnourishment, trafficking, child labour and other dangers. We also seek to provide those children and young people with a quality Christian education through founding and/ or supporting Christian schools. We also provide medical care and food aid, support church plants and facilitate pastor's training. In the UK we engage in advocacy work to speak on behalf of the poorest in India.
## **Significant activities**
In the 2021 - 2022 financial year we continued to face challenges in our work due to the Coronavirus pandemic. March 2021 onwards saw a devastating second wave of Covid-19 spread across India, and so we launched a Covid Recovery Appeal, which enabled us to send out over £61,400 in additional support, specifically to address the impact of the Covid-19 pandemic. This support included two shots of Covid vaccine for 1250 vulnerable adults, £10,000 in medical equipment and approximately £30,000 in emergency food aid. As the financial year ended and it was clear that the worst of the pandemic had passed, we gradually reduced this support and focused our energy on the core work of our partner projects.
In addition, we have continued to support our seven partner projects to cope during the crisis. We continue to support the following projects with financial and/ or other practical assistance:
- Solomon and Sunita Missal and their home for eleven former street children in Mumbai, Maharashtra.
- The Daniel family and the Mizpah Christian School for c400 children in Orai, Uttar Pradesh.
- Suresh Das, Niraj Biswas and the Nissi Welfare Society caring for 80 orphaned and tribal village children in Kishanganj, Bihar. As well as getting a safe and loving home, the children also receive a quality Christian education through our partnership with the Emmanuel Christian School in Kishanganj. There was a need for new beds for some of the girls in the home, so we launched a harvest appeal that year to reach that need.
Page 1
**LIFE ASSOCIATION LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **OBJECTIVES AND ACTIVITIES**
## **Significant activities**
- The 'Life Welfare Association' school and church in Gopavarapugudem, near to Gannavaram in Andhra Pradesh, providing education for 60 children. Through this partnership we also support pastors in nearby towns of Machilipatnam and Gudivada. Both pastors are serving in and supporting impoverished communities. A new day care provision and afterschool provision started in January to help support thirty vulnerable children at our partnership in Machilipatnam.
- Alfred Stephen and his wife Rathini in Madurai, Tamil Nadu. Over the course of the year, this project has evolved. It began with us supporting disabled children and young people in a home that cared for their needs. As they have got older and become teenagers, we are now sponsoring and supporting those former residents in education and vocational training as they seek to move into appropriate employment. A new afterschool provision started in January, which sees children supported in their education, school supplies, and sponsoring school fees for ten of the most vulnerable children.
- During the covid pandemic we provided support for food aid to a new partnership in Tamil Nadu, led by Anburaj Munuswamy. At the beginning of 2022, we began to support a new women's sewing ministry with the same partnership. The women will be professionally trained in sewing skills, which will enable them to earn a sustainable income.
- We also continue to partner with the Bloom project to help facilitate their work in the rural districts around Vellore, Tamil Nadu. This work provides opportunities for education, medical care and care for the elderly.
- We continue to expand our audience on Facebook and establishing platforms on YouTube and Instagram, posting content on at least a weekly basis. This allows us to significantly increase how we are able to showcase and promote our work, and the projects we partner with and support.
## **FINANCIAL REVIEW**
## **Reserves policy**
Over the latter part of the year, the charity has sought to increase reserves in line with the commitments made to employ staff. At year end we held £9,000 in reserve and will seek increase that to £12,000 by end of 2021.
## **Public benefit**
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act, 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Use of volunteers**
Due to Coronavirus our volunteer programme is currently on hold.
Page 2
**LIFE ASSOCIATION LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Organisational structure**
The charity is managed and run by Reverend Steve and Mrs Lisa Haskett, who are overseen by the Trustees and Directors. Rev Haskett began paid employment as 'Charity Director' from 4th January 2021, but this paid employment terminated on 14th February 2022. Rev Haskett continues to serve as Charity Director in an unpaid capacity. Rev Haskett is responsible for relationships with partner projects in India, and church relations here in the UK. Mrs Haskett has been employed as Charity Administrator since 14th February 2022. She is responsible for supporter relations, social media and marketing, bookkeeping, and other administrative work.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
05763547 (England and Wales)
**Registered Charity number** 1115262
## **Registered office**
St Thomas' Parish Centre 135 Caunce Street Blackpool FY1 3NJ
## **Trustees**
Mrs J E Hawthorne Manager S Hawthorne Manager W Dent Assistant Pastor Dr M J Finnegan Retired S Graham Accountant
**Company Secretary** L M Haskett
## **Independent Examiner**
Rushtons Chartered Accountants Avroe House Avroe Crescent Blackpool Business Park Blackpool Lancashire FY4 2DP Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. Dr M J Finnegan - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIFE ASSOCIATION LIMITED**
## **Independent examiner's report to the trustees of Life Association Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Christopher Calvert ACA Institute of Chartered Accountants in England and Wales Rushtons Chartered Accountants Avroe House Avroe Crescent Blackpool Business Park Blackpool Lancashire FY4 2DP
Date: .............................................
Page 4
## **LIFE ASSOCIATION LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
203,320
Other income
1
**Total**
203,321
**EXPENDITURE ON**
**Charitable activities**
Charitable Activities
172,050
Other
19,449
**Total**
191,499
**NET INCOME**
11,822
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
16,469
**TOTAL FUNDS CARRIED FORWARD**
28,291|Restricted
funds
£
-
-
-
-
-
-
-
-
-|2022
Total
funds
£
203,320
1
203,321
172,050
19,449
191,499
11,822
16,469
28,291|2021
Total
funds
£
131,357
-
131,357
110,293
20,820
131,113
244
16,225
16,469|
|---|---|---|---|
The notes form part of these financial statements
Page 5
## **LIFE ASSOCIATION LIMITED**
## **BALANCE SHEET 31 MARCH 2022**
|Unrestricted
Restricted
fund
funds
Notes
£
£
**FIXED ASSETS**
Tangible assets
7
100
-
**CURRENT ASSETS**
Debtors
8
9,088
-
Cash at bank
9
27,826
-
36,914
-
**CREDITORS**
Amounts falling due within one year
10
(8,723)
-
**NET CURRENT ASSETS**
28,191
-
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
28,291
-
**NET ASSETS**
28,291
-
**FUNDS**
12
Unrestricted funds
**TOTAL FUNDS**|2022
Total
funds
£
100
9,088
27,826
36,914
(8,723)
28,191
28,291
28,291
28,291
28,291|2021
Total
funds
£
200
9,088
17,979
27,067
(10,798)
16,269
16,469
16,469
16,469
16,469|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
## **LIFE ASSOCIATION LIMITED**
## **BALANCE SHEET - continued 31 MARCH 2022**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. S Graham - Trustee
The notes form part of these financial statements
Page 7
**LIFE ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Life Association Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The financial statements are presented in Sterling, and all monetary values are rounded to the nearest pound (£).
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
## **Exemption from preparing a cash flow statement**
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
## **Charitable activities**
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Governance costs**
These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit. strategic management and trustee's meetings and reimbursed expenses.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Page 8
continued...
**LIFE ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in. respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
|Depreciation - owned assets|2022
£
100|2021
£
100|
|---|---|---|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **4. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||2022|2021|
|---|---|---|
|Staff|1|1|
No employees received emoluments in excess of £60,000.
Page 9
continued...
**LIFE ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **5. EXCEPTIONAL ITEMS (OTHER RESOURCES EXPENDED)**
2022: There are no exceptional items.
2021: This is the write off of an investment in a trading subsidiary. The trustees consider that the initial investment and subsequent loans are unrecoverable due to impending striking off of the company.
|**6.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
128,357
**EXPENDITURE ON**
**Charitable activities**
Charitable Activities
102,293
Other
(12,209)
**Total**
90,084
**NET INCOME/(EXPENDITURE)**
38,273
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
(21,804)
**TOTAL FUNDS CARRIED FORWARD**
16,469
**7.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2021 and 31 March 2022
**DEPRECIATION**
At 1 April 2021
Charge for year
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021|Restricted
funds
£
3,000
8,000
33,029
41,029
(38,029)
38,029
-|Total
funds
£
131,357
110,293
20,820
131,113
244
16,225
16,469
Fixtures
and
fittings
£
1,000
800
100
900
100
200|
|---|---|---|
Individual fixed assets costing £500.00 or more are initially recorded at cost
Page 10
continued...
**LIFE ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other debtors
**9.**
**CASH AT BANK**
Bank account no. 1
Bank deposit account
Total|2022
£
9,088
2022
Total
funds
£
12,826
15,000
27,826||2021
£
9,088|
|---|---|---|---|
||||2021
Total
funds
£
8,479
9,500|
|||17,979||
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Other loans (see note 11)
Social security and other taxes
Accrued expenses|2022
£
7,600
(377)
1,500
8,723|2021
£
9,100
499
1,199|
|---|---|---|
|||10,798|
## **11. LOANS**
An analysis of the maturity of loans is given below:
|2022
£
Amounts falling due within one year on demand:
Other loans
7,600
**12.**
**MOVEMENT IN FUNDS**
Net
movement
At 1.4.21
in funds
£
£
**Unrestricted funds**
General fund
16,469
11,822
**TOTAL FUNDS**
16,469
11,822|2021
£
9,100
At
31.3.22
£
28,291|2021
£
9,100|
|---|---|---|
||28,291||
Page 11
continued...
**LIFE ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **12. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
203,321
203,321|Resources
Movement
expended
in funds
£
£
(191,499)
11,822
(191,499)
11,822|
|---|---|---|
## **Comparatives for movement in funds**
|Net
movement
At 1.4.20
in funds
£
£
**Unrestricted funds**
General fund
(21,804)
38,273
**Restricted funds**
The James Grace Fund
5,000
(5,000)
Dalit Candles
33,029
(33,029)
38,029
(38,029)
**TOTAL FUNDS**
16,225
244|At
31.3.21
£
16,469
-
-
-
16,469|
|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
The James Grace Fund
Dalit Candles
**TOTAL FUNDS**|Incoming
resources
£
128,357
3,000
-
3,000
131,357|Resources
Movement
expended
in funds
£
£
(90,084)
38,273
(8,000)
(5,000)
(33,029)
(33,029)
(41,029)
(38,029)
(131,113)
244|
|---|---|---|
Page 12
continued...
**LIFE ASSOCIATION LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **13. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2022.
Page 13
**LIFE ASSOCIATION LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
**Other income**
Bank Interest Received
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Grants to institutions
Grants to individuals
**Other**
Printing of books
Office expenses
Sundry expenses
Computer Costs
Bank charges
Other Interest Paid
Fixtures and fittings
**Support costs**
**Management**
Wages
Exceptional items
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net income**|2022
£
189,485
13,835
203,320
1
203,321
151,283
20,767
172,050
524
1,251
1,447
457
1,073
10
100
4,862
12,295
-
12,295
2,292
191,499
11,822|2021
£
124,984
6,373
131,357
-
131,357
80,981
29,312
110,293
164
1,786
297
88
1,439
-
100
3,874
4,791
11,974
16,765
181
131,113
244|
|---|---|---|
This page does not form part of the statutory financial statements
Page 14