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 2024
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 2024
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 10 |
| Detailed Statement of Financial Activities | 11 |
LIFE ASSOCIATION LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March 2005.
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 emergency/disaster aid, 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
We support the following projects with financial and/ or other practical assistance:
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Our project partners in Maharashtra take care of ten former street children. Money was sent for new beds and mattresses for the boys in September.
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Our project partners in Uttar Pradesh runs a school. 400 children attend.
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The school and church that we support in Andhra Pradesh, provides education for 150 children. 80 children attend the afterschool provision. Through this partnership we also support pastors in nearby towns. Both pastors are serving in and supporting impoverished communities. A new day care provision and afterschool provision started in January 2022 to help support thirty vulnerable children at our partnership in one of those towns. A tailoring school was started in February 2023, also in the same town. This project sees women from impoverished backgrounds, professionally trained in sewing skills, which enables them to earn a sustainable income. The first cohort of women graduated in November.
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LIFE ASSOCIATION LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
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We support a project in the south of 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 2022, which sees children supported in their education, school supplies, and sponsoring school fees for ten of the most vulnerable children. Another afterschool provision was started in a nearby village in February 2023 offering the same support. At the same time, we also began supporting nine children who live in a hospice for adults and children living with HIV/Aids. They are supported in their education, medical needs, and well-being. Security fencing was fitted in September around the hospice campus.
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We support a women’s sewing ministry project in the north of Tamil Nadu. The women are professionally trained in sewing skills, which will enable them to earn a sustainable income. A third cohort of women graduated at the end of October, each student received a certificate of achievement and a brand-new sewing machine. An afterschool tuition centre started at the beginning of September 2023 where children from an impoverished village receive extra tuition, school supplies, and nutritious meals.
At the beginning of December, the village was affected by the cyclone which caused heavy rain and floods, leaving some of the local people stranded and in need of basic necessities. We sent money from our disaster relief fund and food, including bread, rice and milk were distributed as well as blankets and mats to those most affected.
- 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 can showcase and promote our work, and the projects we partner with and support.
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LIFE ASSOCIATION LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW Reserves policy
The charity continues to increase reserves in line with the commitments made to employ staff. At year end we held £39,592 in reserve. In line with Charity Commission guidance, we seek to increase reserves to approximately three months running costs. We will continue to build reserves over the next financial year.
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
As well as the trustees, we have a few volunteers who help us with fund raising events, coffee mornings etc.
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 overseen by the Trustees and Directors. Mrs Lisa Haskett is employed as Operations Manager. She is responsible for the day-to-day operational management and delivery of the charity’s work. The trustees provide strategic direction and support delivery when appropriate. Mr Simon Hawthorne and Mrs Julia Hawthorne, the founders of Life Association, retired in July 2023, and are now acting as ambassadors for Life Association.
Risk Management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. To this end, the trustees have a comprehensive risk register and actions are recorded at each meeting to a) identify new risk b) implement, manage and review control measures for existing risks.
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 and Directors
J E Hawthorne - Manager (resigned 27.7.23) S Hawthorne - Manager (resigned 27.7.23) W Dent - Assistant Pastor Dr M J Finnegan - Retired S Graham - Accountant Reverend S I Haskett - Minister Of Religion (appointed 5.10.23) A L Woodridge (appointed 11.07.24)
Company Secretary
L M Haskett
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LIFE ASSOCIATION LIMITED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
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
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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 2024.
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:
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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
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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
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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
Rushtons Chartered Accountants Avroe House Avroe Crescent Blackpool Business Park Blackpool Lancashire FY4 2DP
Date: .............................................
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LIFE ASSOCIATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| 2024 Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 128,250 Other income 370 Total 128,620 EXPENDITURE ON Charitable activities Charitable Activities 94,445 Other 15,822 Total 110,267 NET INCOME/(EXPENDITURE) 18,353 RECONCILIATION OF FUNDS Total funds brought forward 21,239 TOTAL FUNDS CARRIED FORWARD 39,592 |
2023 Total funds £ 133,981 54 134,035 124,990 16,097 141,087 (7,052) 28,291 21,239 |
|---|---|
The notes form part of these financial statements
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LIFE ASSOCIATION LIMITED
BALANCE SHEET 31 MARCH 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Debtors 6 - Cash at bank 40,757 40,757 CREDITORS Amounts falling due within one year 7 (1,165) NET CURRENT ASSETS 39,592 TOTAL ASSETS LESS CURRENT LIABILITIES 39,592 NET ASSETS 39,592 FUNDS 9 Unrestricted funds 39,592 TOTAL FUNDS 39,592 |
2023 Total funds £ 6,388 20,887 27,275 (6,036) 21,239 21,239 21,239 21,239 21,239 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved 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
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LIFE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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 has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a cash flow statement.
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.
Fixtures and fittings - 20% on cost
Taxation
The charity is a registered charity and as such is entitled to tax exemptions on all its income and gains, properly applied for its 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.
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LIFE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES - continued
Fund accounting
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation - owned assets | - | 100 |
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Staff No employees received emoluments in excess of £60,000. |
2024 1 |
2023 1 |
|---|---|---|
5.
TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| Fixtures | |
| and | |
| fittings | |
| £ | |
| COST | |
| At 1 April 2023 | 1,000 |
| Disposals | (1,000) |
| At 31 March 2024 | - |
| DEPRECIATION | |
| At 1 April 2023 | 1,000 |
| Eliminated on disposal | (1,000) |
| At 31 March 2024 | - |
| NET BOOK VALUE | |
| At 31 March 2024 | - |
| At 31 March 2023 | - |
Individual fixed assets costing £500 or more are initially recorded at cost
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LIFE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
| 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other loans (see note 10) Social security and other taxes Accrued expenses 8. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 9. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
At 1.4.23 £ 21,239 21,239 Incoming resources £ 128,620 128,620 At 1.4.22 £ 28,291 28,291 |
2024 2023 £ £ - 6,388 2024 2023 £ £ - 4,900 (377) (377) 1,542 1,513 1,165 6,036 2024 2023 £ £ - 4,900 Net movement At in funds 31.3.24 £ £ 18,353 39,592 18,353 39,592 Resources Movement expended in funds £ £ (110,267) 18,353 (110,267) 18,353 Net movement At in funds 31.3.23 £ £ (7,052) 21,239 (7,052) 21,239 |
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LIFE ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
9. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 134,035 134,035 |
Resources Movement expended in funds £ £ (141,087) (7,052) (141,087) (7,052) |
|---|---|---|
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
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LIFE ASSOCIATION LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| 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 Travel and subsistence Sundry expenses Computer Costs Bank charges Other Interest Paid Fixtures and fittings Support costs Management Wages Pensions Insurance Governance costs Accountancy and legal fees Total resources expended Net income/(expenditure) |
2024 £ 123,773 4,477 128,250 370 128,620 58,169 27,782 85,951 3,158 6,103 3,489 - 962 200 - 13,912 8,127 12 384 8,523 1,881 110,267 18,353 |
2023 £ 128,693 5,288 133,981 54 134,035 102,167 22,823 124,990 400 4,132 1,095 771 1,251 100 100 7,849 4,771 - 176 4,947 3,301 141,087 (7,052) |
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This page does not form part of the statutory financial statements
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