Elevating Success UK Charity No. 1141070 Company No. 06435795 Trustees, Report and Unaudlted Accounts YI March 2025
Elevating Success UK Contents Pages Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Summary Income and Expenditure Account Balance Sheet Statement of Cash Ilows Notes to the Accounts Detèiled Statement of Financial Attivities 15to16 Page I
Elevatlng Success UK Trustees Annual Report ELEVATING SUCCESS UK The trustees, who are also director5 of the charity for the purposes of the Cormpanies Act 2006, present their report with the unaudited flnanclal statements of the charity for the year ended 31 March 2025. REFERENCE AND ADMINISTRATIVE DETAILS Company No. 06435795 Charlty No. 1141070 Registered Office HONOR OAK OLD DEPOT ST. NORBERT ROAD BROCKLEY SE4 2EY Diyectors and Trustees The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year.. Andrea Bevenev Ann-marie Nicho115 Devon Hobbs john Opara Vanessa Clarke Key Management Personnel Chair Andrea Bevenev Accountants Borasana Limited 55 Jasmine Grove London SE20 8JY Bankers Barclay5 Bank PLC l North End Croydon CR9 IRN OBJECTIVES AND ACTIVITIES Our charity's purpose as set out in the Objects contained in the company's Memorandum of Association are to.. provide a professional. carlng, creative and mutU311y respectful trainlng service,. offer a professional and dependable service at all time5,. promote and disseminate good practice.. and provide a551Stance and partnership s(Jpport to regenerate priority areas and develop sustainable communities. Our ViSiDn is to inspire, motivate and erftpower people to achieve their full potential, with a particular focus upon supporting those from disadvantaged communities Page 2
Elevating Success UK Trustees Annual Report FINANCIAL REVIEW Elevating Success, flnancial aim is to have a coverage of eighteen months of the operating running cost in reserve. We are working toward that aim. STRUCTURE, GOVERNANCE AND MANAGEMENT ElevatinE Success has 3 Management Committee of five members whose varied professional backgrounds complement the work of the charitv. The day-to-day running of Elevating Success rests with the Operations Co-ordinator. He is responsible for ensuring that the charity delivers the services Specified, that the operational aspects of the charity are met and that staff and Voluntee are supervised ag they c3rry out their functions within the team. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the finan¢ial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are a150 responsible for safeguarding the a55ets of the charity and hence taking rea50n8ble steps for the prevention and detection of fraud and other irregularities. The above report has been prepared in accordance with thè provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP IFRS 1021. Slgned on behalf of the bo Andrea Trustee 31 March 2025 eveney Page 3
Elevating Success UK Independent Examiners Report Independent Examinei's Report to the trusteès of Elevatlng Success UK I report to the charity tru5tee5 on my examination of the linancial statements of Elev3tinE Success UK for the year ended 31 Malch 2025. Responsibilities and basis of report As the charity's trustees of the company land also it5 directors for the purposes of compèny lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'the 2006 Act. Having sati5fled myself that the financial statements of the Charity are not required to be audited under Part 16 of thè 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying oul my examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examiner's statement I have completed my examination. I can confirm that no material matters have come to my attention in connectlon with the examination giving me cause to believe.. accounting records were not kept in accordance with section 386 of the 2006 Act ', or the financial st8tements do not accord with those records., or the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair, view which is not a matter considered as part of an independent examination., or the financial statemènts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reportin8 by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Stand3rd applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come a¢r05s no othèr matterg in tonnection with the examination to which attention should be drawn in this report in order to enable a proper understandinE of the financial statements to be reached. Orvil Plummer FCCA Borasana Limited 55 jasmine Grove London SE20 8JY 31 March 2025 Page 4
Elevatlng Success UK Statement of FÈnancial Actlvities for the year ended 31 March 2025 Unrestrlcted fut)ds Total funds Total fund5 2025 2025 2024 Notes Income and endowment5 from: Donations and legaties Charitable activities other trading activities 61,942 46,458 46.458 Total 46,459 46,459 61,943 Expendlture on: Ch8ritable activities Other 6,916 58,667 6,916 58,667 27,146 30.981 Total 65,583 65,583 58,127 Net Eains on investments Net lexpenditurellincome Transfers between funds 119,1241 119,1241 3,816 Net lexpenditureljincome before other galns/llossesl 119,1241 119,1241 3,816 Other galns and losses Net movement In funds 119,1241 119,1241 3,816 Reconciliation of funds: Total funds brought forward 17,302 17,302 13,487 Total funds carried forward 11,8221 11,8221 17,303 Page 5
Elevatlng Success UK Summary Income and Expendlture Account for the year ended 31 March 2025 202S 2024 Income 46.459 61,943 Gross income for the year 46,459 61,943 Expenditure 65,583 58,127 Total expendlture for the year Net lexpenditurellincome before tax for the year 65,583 S8,127 119,1241 3,816 Net lexpendlture Ilincome for the year 119,1241 3,816 Pagè 6
Elevating Succes5 UK Balance Sheet at 31 March 2025 Company No. 06435795 Notes 2025 2024 Fixed assets Tangible assets Current assets io Cash atbankand in hand 19,0611 19,0611 7,239 18,399 18,399 11,0961 17,303 Creditors: Amount falling due within one year Net current {113hllltlesl/assets Total assets less current liabilitles li 11,8221 11,8221 11,8221 17,303 Net Iliabllltlesl/assets ex¢ludlng penslon asset oy Ilabllitv 17,303 Total net Illabllltlesllassets 11,8221 17,303 The lunds of the charfty Restricted funds Unrestricted funds General funds 12 12 11,8221 11,8221 17,303 17,303 Reserves 12 Total funds 11,8221 17,303 These accounts have been prepared in 3ccord2nce with the special provision5 of Parl 15 of the Companles Act 2006 relating tD small companies. For the year ended 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2D06 relating to small companies. The members have not required the company to obtain 2n audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the roquirèments of the Companies Act 2006 with respect to accounting records and the preparation of accounts. Approved by the board on 31 March 2025 And signed on its behalf bv.. Andrea Beveney Trustee 31 March 2025 Page 7
Elevatlng Success UK Statement of Cash flows foy the year ended 31 March 2025 2025 2024 Cash flows from apeyatlng actlvltles Net lexpenditurellincome per Statement of Financlal Activltles 119,1241 3,816 Adjustments for: IDecrea5el/lrscrease in trade and other payables 18,3351 608 Net Cash lused inllprovided by operating activities 127,4591 4,424 Net cash from investing attivitles Net cash from flnanclng activities Net Idecreaselllncrease in cash and cash equlvalents 127,4591 4,424 Cash and cash equivalents at the beglnning of the year 18,399 14,308 Cash and cash equivalents at the end of the year 19,0601 18,732 Components of cash and cash equivalents Cash and bank balances 19,0611 18,399 19,0611 18,399 Page 8
Elevating Success UK Notes to the Accounts for the year ended 31 Maych 2025 l Accounting policies Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. statcment of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ircland IFRS 1021 (effective I January 20151 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Change in basis of accountlng or to prevlous accounts There has been no change to the a¢¢ountinE policies (valuation rules and method of accountingl since last year and no changes have been made to accounts for previous years. Fund accountlng Unrestrlcted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market value5. These are available for Lsse subject to restrictions imposed by the donor or through terms of an appeal. Designated funds Revaluation funds Restricted funds Income Recognition of income Income 15 included in the Statement of Financial Activities ISOFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliaP>ility. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations and legacies Voluntary incomo received by way of Erant5, donations 8nd gifts is inclL*ded in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclalms is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. Donated services These are only inclLJded in income Iwith an equivalent amount in expenditure) where the benefit to the Charity 15 rea50ll8bly quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gainslllossesl on This Includes any gain or loss resulting from revaluing investments to m3rket value revaluation of fixed at the end of the year. assets and facilities Gainslllossesl on investment assets This includes any gain or1055 on the sale of investments. Page 9
Elevatlng Success UK Notes to the Accounts Expenditure Recognltion of expenditure Expenditure is re¢ognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These cc>mprise the costs associated with attracting voluntaly income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the Costs incurred by the Charity in the dÈlivery of its activities and charitable activities services In the furtherènce of its objects, including the maklng of grnnts and governance costs. All grant expènditurè is 3ccounted for on an actual paid basis plLJ% an attrual for grants that have been approved by the tru5tee5 at the end of the year but not yet paid. These include those tosts assoclated with meeting the constitutional and statutorv requirements of the Charity, including any auditlindependent examination fees, costs linked to the strategic management of the Charlty, together with a share of other administration costs. Other expenditure These are support C05t5 not allocated to a particular activitv. Grants payable Governance costs Taxation The charity 15 exempt from corporation tax its tharitable activities. Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance Sheet date and are not depreciated. All gains or IDS5es are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which 15 the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after èny trade dlstount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equlvalents Cash and cash Équivalents comprise cash at bank and on hand, demand deposits with hanks and other short-term highly liquid investments with original maturities cf three months or le55 and bank overdrafts. In the statement of financial position, bank overdrafts are shown withit) borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash manaEement. Trade and other creditors Short term creditors are measured at the transaction price. Other creditor5 and provisions are recognised where the charity has a present obligation resulting from a past evènt that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditor5 and provisions are normally recoEnised at their settlement amount after allowing for any trade discounts due. Page 10
Elevating Success UK Note5 to the Accounts Rèsearch and development Expenditure on research and development 15 written off in the year in which it 15 Incurred. Forelgn currencies Monetary assets and liabilities denominatèd in currencies other than the functlOll81 currency of the charity are translated at the rates of exehanEe prevailing at the end of the reporting period. Transactions in currencies other than the functional ¢urrency of the charity are recorded at the rate of exchange on the date that the transartion occurred. All exchange differenc@S are are taken into account in arriving at net incDmelexpenditure. Leasèd assets Where the charity enters into a lease which entails taking substantially all the rlsks and reward5 of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to tharity are classified as operating leases. Assets held under finance leases are initially recognised a5 a55ets of the charity at their fair value at the Inception of the lease or, if lower, at the present value of the minimum lease payments. The orresponding liability to the lessor is included in the balance sheet date as a finance leasè obligation. Lease payments are apportioned between finance expenses and reduction of the lease obllgatiot) so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately. unless they are directly attributable to qualifying assets, in which case they are capltali5èd in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentive5 are recognised as a liability. The aggregate benefit of incentives 15 recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operate5 a defined contrlbution plan for its employees. A defined Contribution plan is a pension plan under which the company pays fixed contributions into a separate entity- Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan 3re held separately from the company in independently administered funds. Recelpt of donated goods, facilities and services All donated goods, facilities and services received Bre recogni5ed within incoming resources and expenditure at an estimate of the value to the charity. 2 Company status The company is è prlvate company limited by guarantee and consequently does not have share capital. Page 11
Elevatlng Success UK Notes to the Accounts 3 Statement of Financlal Artlvitles- prlor year Unrestricted Restricted funds funds Total funds 2024 2024 2024 Intome and endowments from: DonatlQll5 and legacies Charitable activities 44,442 17,500 61,942 Total 44,443 17,500 61,943 Expendlture on: Charitable activities 12,563 14,583 27,146 30,981 Other 20,981 Total 43,544 14,583 58,127 Net income 899 2,917 3,816 Net income before other galns/llossesl Other gains and lossès: Net movèment In funds 899 2,917 3,816 899 2,917 3,816 Reconciliation of funds.. Total funds brought forward Total funds carried fonuard 13,487 13,487 14,386 2,917 17,303 4 Income from donations and legacies Unrestricted Total Total 2025 2024 Donations S Income from charitable activities Total Total 2025 2024 Mentoring and training 61,942 61,942 6 Intome from other tlading activities Unrestrlcted Total Total 2025 2024 46,458 46,458 46,45g 46,458 Page 12
Elevatlng Success UK Note5 to the Accounts 7 Expendlture on charltable activities Unrestricted Total Total 2025 2024 Expenditure on chorituble Lyctivities Mentoring and training Wage5 and Salaries Governance costs 3,076 3,840 3,076 3,840 7,842 19.304 6.916 6,916 27,146 8 Other expenditure Unrestricted Total 2025 Total 2024 Employee costs General administrative costs Legal and professional costs 52,309 3,767 2,591 58,667 52,309 3,767 2,591 58,667 26,020 3,479 1,482 30,981 9 Staff costs 2025 2024 Salaries and wages 52,309 52,309 26,020 26,020 o employee received emoluments in excess of £60,000. 10 Tangible fixed assets Cost or revaluatSon At l April 2024 At 31 March 2025 Depreciatlon and Impairment At l April 2024 At 31 March 2025 2,817 2,817 2,817 2,817 2,817 2,817 2,817 2,817 Net book values At 31 March 2025 At 31 March 2024 Page 13
ElevatSng Success UK Notes to the Accounts 11 Creditors.. amounts falling due within one year 2025 2024 Othèr taxes and social security Other eredltors Accruals 17,2391 1,405 13081 17,2391 1,096 12 Movement in fund5 Incoming resources At31 Ilncludlng other At l April gainsllosses 2024 Resources March 2025 expended Restrlcted funds: Unrestrltted funds: General funds 17,302 46,459 165,5831 11,8221 Total fund5 13 Analysis of net assets between funds 17,302 46,459 165,5831 11,8221 Unrestrltted Total fund5 Net current assets 11,8221 11,8221 11,8221 11,8221 14 Retontiliation of net debt At31 At l April 2024 March Cash flows 2025 Cash and cash equivalents 18,399 18,399 127,46Ql 127,4601 19.0611 19,0611 Net debt 18,399 127,4601 19,0611 15 Related party dlsclosures Controlling party The company 15 limited by guarantee and has no share capital,. thus no single party controls the companv. Page 14
Elevating Success UK Detailed Statement of Flnanclal Activities for the year ended 31 March 2025 Unrestricted funds Total funds 2025 Total fund5 2024 2025 Income and endowments from: Donations and legacies Donations Charitable activities Mentoring and trainlng 61,942 61,942 Other trading activities 46,458 46,458 46,458 46,458 Total income and endowments 46,459 46,459 61,943 Expendlture on,. Charitable activities Mentoring and training Wages and Salaries 3,076 3,840 6,916 2,076 3,840 6,916 7,842 19,304 27.146 Total of expenditure on charitable actlvltles 6,916 6,916 27,146 Employee costs Salarieslwages 52,309 52,309 52,309 52,309 26,020 26,020 General administrative costs, including depreciation and amortlsatlon Bank charges General insurances Stationery and printing Sundry expenses Telephone, fax and broadband 118 118 107 992 992 971 23 23 104 2,530 3,767 104 140 2,530 3,767 2,261 3,479 Legal and professional costs Accountancy and bookkeepin8 Other legal and Professional costs 2,070 2,070 1,469 521 521 13 2,591 2,591 1,482 Total of expenditure of other costs 58,667 58.667 30,981 Total expenditure Net Eains on investments 65,583 65,583 58,127 Page IS
Elevating Success UK Detailed Statement of Fin3ncial Acuvlties Net lexpenditurel/income 119,1241 119,1241 3,816 Net lexpenditurel/incomè before other gain5lllossesl Other Gains 119,1241 119,1241 3,816 Net movèment In funds 119,1241 119,1241 3,816 Reconciliation of fund5: Total funds brought forward 17,302 17,302 13,487 Total funds carrled forward 11,8221 11,8221 17,303 Page 16