## **SIMPLY LIMITLESS** ## **Financial Statements** **for the year ended 31 December 2024** **Company Number 7442337 Charity Number 1142444** ## **Simply Limitless** ## **Financial Statements** ## **Year ended 31 December 2024** ||**Pages**| |---|---| |Contents|| |Information|**1**| |Directors Annual Report|**2-5**| |Reporting Accountants Report|**6**| |Statement of financial activities|**7**| |Balance Sheet|**8**| |Notes to the financial statements|**9-10**| ## **Simply Limitless** ## **Charitable Company Information** ## **Trustees** CS Dawes R Zhu (appointed 01/05/25) (Chair) LT Marumahoko (appointed 01/05/25) LA Griffiths (appointed 01/05/25) SJ Lee (resigned 14/11/24) KC Bounds (resigned 14/11/24) RP Pars (resigned 31/12/24) HL Webb (resigned 01/05/25) F Rajah (resigned 16/05/25) MA Zacaroli (resigned 1/7/25) ## **Principal Officers** P Raper L Raper ## **Secretary** RP Pars ## **Reporting Accountant & Independent Examiner** Chi Wa Chan, ACCA 24 Heathside Drive, Birmingham, England B38 9LP ## **Bankers** Bank of Scotland, New Uberior House, 11 Earl Grey Street, Edinburgh, EH3 9BN ## **Company and Charity numbers** Charity registration number 1142444 Company number 7442337 page 1 ## **Simply Limitless Year ended 31 December 2024 DIRECTORS REPORT** The Trustees, who are also Directors of the charity for the purposes of the Companies Act 2006, have pleasure in presenting their report and the independently examined financial statements for the year ended 31 December 2024. The Trustees have adopted the provisions of the statement of Recommended Practice (SORP) "Accounting and reporting by Charities" issued in 2005 in preparing the Annual Report and financial statements of the charity. ## **Structure, Governance and Management** Simply Limitless is a charitable company limited by guarantee and does not have any share capital. The company was incorporated on 17 November 2010 is governed by a Memorandum and Articles of Association. The Trustees are detailed on page 2 and any changes in Trustees during the year are noted there. The Trustees are responsible for decisions related to the strategic direction of the charity together with those that relate to exceptional financial or reputational risk. The Trustees meet regularly to monitor the progress of the charity. The day to day operational management of the charity rests with the principal officers detailed on page 1. They are responsible directly to the Trustees. ## **Funds and Activities** The funds of Simply Limitless have been applied for the purpose of the provision of facilities for recreation and leisure, the advancement of education and relieving the needs of the homeless in accordance with its objectives. An analysis of the expenditure is shown in the Statement of Financial Activities on page 7. All of the assets of Simply Limitless are used in the support of its charitable objectives or for management administrative or income generating purposes. The continuation and expansion of the charity's activities relies upon donations received which are either applied directly for the charity's activities or are invested (either at the discretion of the donor or at the discretion of the Trustees) to provide income in the ensuing years. The success of future plans and ongoing commitments, therefore, relies upon the income produced from these ongoing donations and funds. ## **Public Benefit** The Charity is committed to providing public benefit through pursuing it's objective of providing facilities for recreation and leisure, the advancement of education and relieving the needs of homeless people in such ways as are charitable. Such benefit is continually monitored and evaluated, whilst those who volunteer working for the charity are encouraged to find new and more effective ways of making this objective a reality. ## **Objectives** The objectives of Simply Limitless continue to be: - 1 The provision of facilities for recreation and leisure - 2 The advancement of education - 3 The relieve the needs of homeless people in such ways as are charitable page 2 ## **Simply Limitless Year ended 31 December 2024 DIRECTORS REPORT** ## **Operations** The information provided below is a summary of the activities of the charity to date, including those occurring after the end of 2024. ## **Operations - Internet** All our operations are described on the internet and these are accessed through our website - www.simply limitless.org. The website is updated regularly with news of events and reports of what has been happening. ## **Trustees (and directors)** The trustees (and directors) of the charity during the period were: CS Dawes R Zhu (appointed 01/05/25) (Chair) LT Marumahoko (appointed 01/05/25) LA Griffiths (appointed 01/05/25) SJ Lee (resigned 14/11/24) KC Bounds (resigned 14/11/24) RP Pars (resigned 31/12/24) HL Webb (resigned 01/05/25) F Rajah (resigned 16/05/25) MA Zacaroli (resigned 1/7/25) ## **Board of Trustees responsibilities** The Trustees of the Charity as directors of the company are responsible for the preparation of financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the financial year end and of the surplus or deficit for that year. In preparing those financial statements, the Trustees are required to: - a) Select suitable accounting policies and apply them consistently; - b) Make judgments and estimates that are reasonable and prudent; and - c) Prepare the accounts on a going concern basis unless it is inappropriate to presume that the Charity will continue its operations. The Board of Trustees are responsible for keeping proper accounting records to enable them to ensure that the financial statements comply with the Companies Act 2006. 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. The Board of Trustees is also responsible for ensuring that the accounting records and the financial statements comply with the Charities Act 2011 and all other relevant governing documents. page 3 **Simply Limitless Year ended 31 December 2024 DIRECTORS REPORT** ## **Risk management** The directors purpose to be aware of any major strategic, operational and financial risks to the charity. In the year ahead all of the major areas will be reviewed and kept up to date. Safeguarding policy – in addition to DBS certificates being obtained, the charity has established safeguading policies and every adult who is involved in working with the children, young people and vulnerable adults in the charity is supervised under guidelines produced by an independent body and undertakes to follow the charity's guidelines. Safety reviews are conducted by the charity, especially where public meetings are currently held with particular attention paid to parents for maintaining the health & safety of their children. Public liability is covered by an insurance policy. Financial security is managed by a regular review of the charity’s financial status by the Management Team which is reported to the trustees at scheduled meetings as well as in between meeting dates. ## **Achievements and Performance** Everyone involved with the charity has been amazed at the significant progress achieved since activities began in 2011. There has been an incredible amount of hard work involved in this and the charity continues to grow in favour with the local community, agencies and businesses. ## **Training events** Training occurs frequently as charity volunteers and others are given opportunity to fulfil their potential in different areas of the activities. ## **Children & Youth Work** This important area is given great emphasis through meetings and social events arranged throughout the week. The young people and children participate in many areas of the charity and are especially involved in the leisure and recreation activities. ## **Care for the homeless** Volunteers are becoming increasingly involved with this area - offering hope and support to local communities, especially amongst the homeless and those living in hostels. ## **Partnerships** The charity actively pursues partnership with like-minded organisations and individuals in the UK. These relationships have proven very beneficial to the ongoing development and growth of the local charity. page 4 Simply Limitless Year ended 31 December 2024 DtRECTORS REPORT Financial review Review of financial position The principal funding source is iiicoine froin agei)cies ai)d charities siipporting the projects Ilie Charity runs. together witl) voluntary donations Inade by members of tlie general piiblic & visltors to Ilie Lliai'ity. The iiicoine for tl)e year was £414.61512023.. £344.3 86) aiid expenditure was £414,35212023'. £344.492) giving a surplus of £263 (2023.. deficil £106). Througli coiitii)uii)g donalions and support the charity has been able to coiitiiiue ils operations unhiiidered to tlie date of this report aiid the direciors are confident that this will coiitliiue. Reserves Policy Tlie charity liolds reserves in interest beariii&F accounts ￿'It17 quick access tiiiie fraiiie4. Tlie directors aiin lo build reserve fiiiids f'i'oin a level ot I months Iniiiiiiiuin lo a level approacliiiibi 2 Inoiitlis ol'opei'atii)&J eipenses ii) tl)ese accoiinis. This eqiiates lo a fund of £60.000. Plans for the ￿tllre Tlie IrLisl¢es will coi)liniie lo look al developing their reiilcd preiiiises Iwlii¢li is us¢d siiitable for botli adniiiiislralive aiid cliariiable piirposes) (() serve as a basL li)r iii()re direct cominiii)ily ii)volv¢in¢i)l. Tlie cl)arily is also formii)g key relatioi)s1)ips willi local aiitl)orities. agei)cies and busiii¢sses with whom it see% that it can operat¢ to mutual b¢n¢fil of its cliaritable aims and obj¢¢tive5. Tlie cost ol. I1￿1ng crisis aiid 8lobal ecoiioiniillc Liiicertaiiities presented tlie cliarily will) fresl) cliall¢nb>es and oppnrtui)ilies. Tliai)kliilly, due t<) the repulalioii (If tlie Lliarity in its localily ¢ind Ilie coiisisient ellorts ol- its leadersliip aiid voluiiteers, it lia5 been able to continLie serviiisF tlie local coinii)Lii)ily to dale. Independent Ex#miner All ol-tlie ciirreiit trLlStees have taken all the steps that they ought to have taken lo mak¢ themselves awa￿ of aiiy infonnalii)i) iieL'd¢d by tl)e charilys ind¢pendei)l ¢xaiiiiiier r()r ilie piirposes of lJis examination and to e5tablis1I that tlie lle is aware of tliat intormatioii. The Iruslees are not aware of of any relevant information of which he is not aware. The resolution to appoint Chi Wa Chan as independent examiner will be proposed al the next aniiual general me¢ting. Signing on behalf of the Trustees Trustee oÉ.g,L4 page 5 ## **Simply Limitless Year ended 31 December 2024 Independent examiner’s report to the trustees of Simply Limitless** I report on the accounts of the company for the year ended 31 December 2024 set out on the following pages. ## **Respective responsibilities of directors and examiner** The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The 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. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the 2011 Act; - to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and - to state whether particular matters have come to my attention. ## **Basis of independent examiner's report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. ## **Independent examiner’s statement** In connection with my examination, no matter has come to my attention: - (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with section 130 of the 2011 Act; and - to prepare accounts which accord with the accounting records, comply with the accounting requirements of the 2011 Act and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by have not been met; or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. ………………………………………………….. Chi Wa Chan, ACCA 24 Heathside Drive, Birmingham, England B38 9LP 28/08/2025 page 6 ## **Simply Limitless** ## **STATEMENT OF FINANCIAL ACTIVITIES Year to 31 December 2024** **----- Start of picture text -----**
Restricted Unrestricted Total Total
Notes Funds Funds Funds Funds
2024 2023
£ £ £ £
Incoming Resources
Incoming resources from generated funds
Voluntary Income 2 166,083 198,634 364,717 316,966
Fundraising Income 48,863 48,863 26,616
Investment Income
Bank Interest 1,035 1,035 804
Incoming resources from charitable activities
Sundry Sales
Total Incoming resources 166,083 248,532 414,615 344,386
Resources Expended
Charitable activities 172,418 221,905 394,323 327,790
Support Costs
Fundraising costs 20,029 20,029 16,702
Governance Costs
Total Resources Expended 3 172,418 241,934 414,352 344,492
Net incoming/outgoing resources before transfers (6,335) 6,598 263 (106)
Funds Brought forward 27,335 (3,364) 23,971 24,077
Gross transfers between funds
Total funds carried forward 21,000 3,234 24,234 23,971
**----- End of picture text -----**
page 7 Approved by the directors on and signed on their behalf For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. ## Directors responsibilities: - the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476, - the directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts - these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. ## **Simply Limitless Notes to the accounts Year ended 31 December 2024** ## **1. Accounting Policies** ## **(a) Basis of Accounts Preparation** The financial statements are prepared under the Historic Cost Convention and in accordance with Accounting and Reporting by Charities - Statement of Recommended Practice (SORP 2005) and Accounting Standards and the Charities Act 2011. The charity has taken advantage of the exemption in FRS 1 from the requirement to produce a cashflow statement on the grounds that it qualifies as a small charity. ## **(b) Incoming Resources** ## **Recognition of incoming resources** These are included in the Statement of Financial Activities (SoFA) when: - the charity becomes entitled to the resources; - the trustees are virtually certain they will receive the resources; and - the monetary value can be measured with sufficient reliability. ## **Incoming resources with related expenditure** Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA. ## **Grants and donations** Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the resources. ## **Investment income** This is included in the accounts when receivable. ## **(c) Expenditure and Liabilities** ## **Liability recognition** Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ## **Governance costs** Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. ## **Support Costs** Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. ## **(d) Tangible fixed assets for the use by the charity and depreciation** Tangible fixed assets for use by the charity are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less estimated residual value, over their expected useful lives. page 9 ## **Simply Limitless NOTES TO THE ACCOUNTS Year ended 31 December 2024** ## **2. Voluntary Income** |Donations from other charities
Gift Aid Tax receipts
Other appeals and gifts
**3. Charitable Activities**
Charitable donations/activities
Representing the cost of charitable a
**4. Bank and Cash**
Bank Accounts
**5. Restricted Fund Movements**
Donations for specific projects
**6.Analysis of Net Assets by Fund**
Fixed Assets
Net Current Assets
Long Term Creditors
Net Assets|**Restricted**
**£**
30,000
136,083
166,083
**£**
172,418
172,418
ctivities and donations to
**Fund**
**balances**
**Brought**
**Forward**
**£**
27,335
27,335
**Unrestricted**
**Funds**
**£**
1,040
2,194
3,234|**Unrestricted**
**£**
0
13,921
184,713
198,634
**£**
241,934
241,934
other charities with simil
**Incoming**
**Resources**
**£**
166,083
166,083
**Restricted**
**Funds**
**£**
21,000
21,000
**2024**
2024
**2024**|**Total**
**£**
30,000
13,921
320,796
364,717
**£**
414,352
414,352
ar aims
**2024**
79,661
79,661
**Outgoing**
**Resources**
**£**
172,418
172,418
**Total**
**Funds**
**£**
1,040
23,194
24,234|**Restricted**
**£**
30,000
152,447
182,447
**£**
174,562
174,562
**Fund Balances**
**carried forward**
**£**
21,000
21,000
**Unrestricted**
**Funds**
**£**
1
3,365
-
(3,364)|**Unrestricted**
**£**
0
11,740
122,779
134,519
**£**
153,228
153,228
**Fund**
**balances**
**Brought**
**Forward**
**£**
19,450
19,450
**Restricted**
**Funds**
**£**
27,335
27,335
**2023**
2023
**2023**|**Total**
**£**
30,000
11,740
275,226
316,966
**£**
327,790
327,790
**2023**
95,889
95,889
**Incoming**
**Resources**
**£**
182,447
182,447
**Total**
**Funds**
**£**
1
23,970
23,971| |---|---|---|---|---|---|---| As noted in the Directors' Report, the income for the year was £414,615 (2023: £344,386) and expenditure was £414,352 (2023: £344,492) giving a surplus of £263 (2023: deficit £106). ## **7 Related Party transactions - Trustees** No transactions to note. **----- Start of picture text -----**
8 Fixed Assets COST DEPRECIATION NET BOOK VALUE
Additions/ Additions/
Brought forw Disposals Carried forward Brought forward Disposals Carried forward 2024 2023
£ £ £ £ £ £ £ £
Office equipment - 1,387 1,387 - 347 347 1,040 -
Minibus 25,000 25,000 24,999 24,999 1 1
25,000 1,387 26,387 24,999 347 25,346 1,041 1
**----- End of picture text -----**
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