Company Number: 7259138 Charity number:1143635
Precious Lives
Annual Accounts
And Annual Report
1[st] June 2020 – 31[st] May 2021
Legal information
Charity No: 1143656 Company No: 7259138 Company Status: Limited by Guarantee Address: Flat 1 Cottrill Gardens Marcon Place London, E8 1NY
Broad of Directors/Trustees: Amina Nalubega Ssendegeya Mwajabu Nabawanuka Ssebaggala Angel Francis
Banker: Natwest
Independent examiner: Trotman & Atwal
TRUSTEES REPORT
The trustees (who are directors of the charity for the purposes of the Companies Act 2006) present their report together with the financial statements for the year ended 31[st] May 2022.
Company Status
The company is a registered charity limited by guarantee and does not have a share capital. The Directors have no interest in the company's deficit or assets and receive no remuneration
Organisation
The Trustees, who are directors for the purpose of company law and trustees for the purpose of charity law, are listed in the legal and administrative details on page 2. One-third of the trustees retire each year and they may stand for re-election. Their election is determined by the membership of the company.
The Board of Trustees meets a minimum of six times a year and the committee have the power to set up sub-committee and working parties as identified as appropriate, this is done with the purpose of addressing specific matters. Within the Committee there is a wide range of expertise and experience. A volunteer coordinator has been appointed by the Trustees to manage the day-to-day operations of the charity.
The management team supports the Volunteer Coordinator and the organisation has a comprehensive set of policies and procedures in place in relation to finance, operations, human resources and health and safety.
Trustees
The Trustees, who served on the Board throughout the year, are listed on page 2.
Objectives and policies
The objects of the charity are set out in the Memorandum and Articles of Association. They are to promote for the benefit of the inhabitants of the London Borough of Hackney, Haringey, Tower Hamlets, Islington and Waltham Forest and Greater London by:
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(a) The advancement of education, training and cultural and social activities;
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(b) The relief of poverty, sickness and distress;
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(c) The promotion of good health; and
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(d)The provision of recreational facilities in the interests of social welfare with the object of improving their conditions of life;
Precious Lives have failed to operate at the level we desired, in the year after its incorporation as a company limited by guarantee.
Risk management
The Trustees and management team are aware of their responsibilities regarding risk management and keep major strategic, business and operational risks under review. There is a detailed risk register in place, which is reviewed regularly by both the Trustees and the managers. At their annual review of the register during the year, the Trustees noted there were less emphasis on financial matters and more on performance and outcomes on contracts.
We are conscious that this is a living document and that as circumstances change we need constantly to be reviewing our central systems throughout the organisation.
Management and administration
The resources expended on administration was £2100 during the year. This represents 10.4% of the total resources expended, a level of expenditure that the Trustees consider to be appropriate for the charity as it represents a good return the funds expended as it has allowed us to establish a robust administration and governance system for the charity.
Equal opportunities and other policies
As responsible employers, the directors have approved a number of policies relating to Equal Opportunities, Conflict of Interest, Health and Safety, Children and Vulnerable Adults protection policy, Financial, Data Protect these are the key operational policies.
Activities
Over the past year Precious Lives have focused on some key development areas and we fully expect to continue with this work in the coming years after the pandemic has passed, building healthier Healthy Communities (physically and financially), Public Spaces (to afford Health, education and entrepreneurial opportunities) and Social Inclusion (affording the most impoverish and exploited opportunities to change their situation). Covid-19 has uncovered many weak spots with in our community Precious Lives has designed a number of projects with partner agencies which will condition the charity’s work for the next few years. As we seek to establish vehicle to provide lasting and life enhancing solutions together with beneficiaries and volunteers.
Our client base is very diverse and now includes the pensioners, mothers and baby group, victims of domestic violence, boys and girls football teams, unemployed, lone parents, children struggling at school and partnership work with other local organisations. On a whole we have manage our resources and finances fairly well, but Covid-19 has redefined the nature of existence and we have had to change many of our activities.
Our delivery process has been radically over hauled as the country struggle with wave after wave of Covid-19, as a charity we have faced major issues as the section of the community we serviced has been practically impacted by Covid-19 which claimed many lives and maimed even more. The level of unemployment has sky rocked in the community as many who were employed on Zero hour contract we the first to lose they jobs.
Faced with this unparalleled experience we have to adjust very quickly to save lives, our work
Food Distribution
Food Distribution is an essential life line in the community . This is our seventh year of distributing food in Hackney and the surrounding area to the homeless, the needy and those afflicted by Covid-19. This programme has grown to such an extent that it is now our most popular programme with demands for the food beyond what we could ever have imagined and it is great to see that we have been with the generosity of Fairshare project, that we have been able to reach so many needy individuals. Many can now get one or two meals a day. The charity having joined’ Fairshare’ and ‘Neighbourly’ we now collect food from a number of local supermarkets to distribute in the local area.
We are happy for the immediate results with our activities, success is often in the look in a beneficiary eyes and the realisation that someone cares for them.
Advice and sign posting
Our work continues to be centred on the delivery of advice and support services to the community for this is often where the most immediate changes are witnessed. With an active membership in excess of four hundred members this is the activity that tests the charity’s professional delivery most, for it calls for the volunteers to be instantly responsive to expressed needs in moments of crisis.
Precious Lives is currently delivering financial support- this year we have service 208 families and have successfully convinced creditors to write a large percentage of their debt and twenty families finished the year debt free.
Condom Distribution
We continue to deliver this project in partnership with a number of local charities and it remains centred around spreading the message of the need for safer sexual activities and
much of the target group was for the individuals at risk of early conception and sexual diseases such as HIV, chlamydia, Trichomonas vaginalis and other STD’s. Wrap it up strap it up and enjoy yourself. This programme targeted everyone between the ages of 13 and 19, basically anyone that is sexual active.
Funding
This year under the most exceptional circumstance as we tried to address issues from the pandemic, this has decimated the country with all the various variants. We have found it difficult to attract funding; it is understandable because the demand for Funders support has been universal. The funding environment is distorted and has gotten worse and there are little funds for a charity of the nature of Precious Lives to access.
We are aware that the fallout from Covid-19 will be with for some considerable time and we know we will have to fight for the support to deliver our services. The impact of the pandemic on BAME community has left us broken hearted. We will be seeking in the coming year to address this funding with even more energy because the number of individuals in need continues to increase. We are conscious that to provide an effective service we need as an organisation to be in a position to employ paid staff, in order to address the urgent needs identified among our beneficiaries.
Our funders this past year have been:
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HCVS In Kind Direct
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Giving world online Fairshare UK Youth Tesco London Basket Brigade Neighbourly Trustees Aldi Foodshare Christ Royal church
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Giving world online Food bank
We continue to receive donations from friends and well-wishers of Precious Lives as they tried to ensure that the organisation grows. We have also been able to generate some funds from the sale of some of our services of expert volunteers through appearances and speeches by our coordinator.
Conclusion
We are determine to ensure that Precious Lives grows and becomes an establish charity to provide a much needed help point in the community to improve the quality of life for the most disadvantaged. In the face of the ongoing pandemic we say thank and urge you all to stay and observe the protocols developed to address the spread of Covid-19.
To our Supporters and Funders thank you for recognising the value in our activities you have all made this a productive year for the charity. To our Trustees we nod in appreciation
to the abiding dedication to the charity. Thank you to our volunteers who continue to make all we do possible.
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Amina Ssendegeya - Chair 6[th] February 2022
Directors' Responsibilities
Company law requires the directors to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charitable company and the surplus or deficit for that period. In preparing these statements, the Directors are required to:
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Select suitable accounting policies and then apply them consistently;
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Make judgments and estimates that are reasonable and prudent;
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State whether applicable Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.
The Directors are responsible for maintaining proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent Examiner's Report
Independent Examiner's Report to the Trustees of Precious Lives a Registered Charity Number 1143656, on the accounts for the year ending 31[st] May 2022 set out on pages 7 and 8.
Respective responsibilities of Trustees and Examiner
The Charity's Trustees consider that an audit is not required for this year (under section 43(2)) of the Charities Act 1993 (the Act) and that an independent examination is needed
It is my responsibility to:
(1) Examine the accounts (under section 43 of the Act)
(2) To follow the procedures laid down in the General Direction given by the Charity Commission (under section 43(7) (b) of the Act: and
(3) State whether particular matters have come to my attention.
Basis of this report
My examination was carried out in accordance with General Directions given by the Charity Commissioners. 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 the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
Independent Examiner's statement
In the course of my examination, no matter has come to my attention: (1) Which gives me reasonable cause to believe that in, any material respect, the trustees have not met the requirements to ensure that:
(a) Proper accounting records are kept (in accordance with section 41 of the Act); and (b ) Accounts are prepared which agree with the accounting requirements of the Act; or (2) To which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Trotman & Atwal Community Accountant 7 Beanshaw London, SE9 3HL
Sign : 12.12.2022
Precious Lives
Income & Expenditure Account
Statement of Financial Activities for the year ended 31[st] May 2022
| 2.Incoming Resources Grants, Awards, Donations Generated Income Membership Other Total Income Resources Expended Cost of generating funds Activities in the furtherance of the Charity’s objects Management & Administration Total outgoing resources Net surplus/deficit Balance brought forward Balance carried forward |
Unrestricted £ - 2, 970 - - 1,500 4,470 0 3,280 1,200 4,480 (10) 107 97 |
Restricted £ 0 24,608 - - - 24,608 - 23,908 900 24,808 (200) 1,200 1,000 |
2022 2021 £ £ 0 14,908 27,578 5, 970 - - - - 1,500 1,000 29,078 21,878 0 0 27,188 18,778 2,100 2,098 29,288 20,876 (210) 1,002 1,307 305 1,097 1,307 |
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Precious Lives Balance Sheet on 31[st] May 2021
| note £ Fixed Assets: 3 Tangible Assets Current Assets: Debtors - Cash at Bank and in hand 1,097 Creditors: - Net Current assets Total Net assets Represented by: (Un)/ restricted funds Free reserves Fixed Assets Total Unrestricted funds: Restricted funds: Total |
2021 2021 1,150 900 2,247 2,207 2,247 2,207 - - - - 1,247 1,007 1,000 1,200 2,247 2,207 |
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For the year ended 31[st] May 2022 the company was entitled to exemption from audit under section 477of the Companies Act 2006 relating to small companies.
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,
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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’.
Approved on 12[th] January 2023
Chairperson – Amina Ssendegeya
1. Notes to the Financial Statements for the year ended 31[st] May 2022
Accounting Policies
(a) Basis of accounting
The financial statements are prepared under the historical cost convention. They comply with the Charity Commission's Statement of Recommended Practice on Accounting by Charities (SORP 2005) and all applicable accounting standards.
Reporting Standards
(b) Incoming Resources
General donations, legacies and subscriptions are brought into account when received.
Donations and grants given for specific purposes are treated as income in the year of receipt. Unspent restricted income is included under restricted funds as it is fully committed.
(c) Resources expended
The resources used are classified under the charity's functional categories of expenditure rather than the type of expense in order to provide more useful information.
Resources expended in each functional category comprise direct expenditure including direct staff costs attributable to the activity. Where costs cannot be directly attributed they have been allocated to activities based on time spent by staff on those activities.
(d) Tangible fixed assets and depreciation
Tangible fixed assets are included at cost; Depreciation is calculated annually at 25%
(e) Operating leases
Operating lease rentals are charged to the income and expenditure account as they become due.
( f) Fund accounting
General funds comprise the accumulated surplus or deficit on the income and expenditure account. They are available for use at the discretion of the Directors in furtherance of the general objectives of the company. Restricted funds are funds subject to specific restricted conditions imposed by donors.
(g) Expenditure categories
Expenditure is allocated to one of three functional categories that reflect the charitable activities of the company:
Cost of generating funds
Activities in the furtherance of the Charity’s objects
Management and Administration
Precious Lives
Grants, Donations & Expenditure Analysis
| Cash Income by type of donor: Lottery Charitable Trust Government- Local Authority Companies Donations /Members Generated Income Other Sources Total Income Resources Expended Cost of generating funds Staff & Volunteer Travelling Mentoring Activities for Clients Volunteer Cost Rent Venue Hire Project Activity Management & Administration Cost Legal fee and Accounting Registration and Governance Postage and Carriage Telephone Bank Charges Other |
Unrestricted Restricted £ £ - - - 0 - - - - 2,970 24608 - - 1,500 - 4,470 24,608 - - - - 1000 900 - 3,000 - 0 2280 20,008 450 400 - 474 - 450 189 - 137 - |
Unrestricted Restricted £ £ - - - 0 - - - - 2,970 24608 - - 1,500 - 4,470 24,608 - - - - 1000 900 - 3,000 - 0 2280 20,008 450 400 - 474 - 450 189 - 137 - |
2022 2021 - - 0 14,908 - - - - 27,578 5,970 - - 1,500 1,000 29,078 21,878 2022 2021 Total £ Total £ 0 0 27,188 18,778 2,100 2,098 29,288 20,876 |
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