HIGHLIFEI, C E N T R E (A company IlmHed by gvorontee) ANNUAL REPORT For the Year Ended 31sl December 2023 Company registration number.. 07415399 Charily regislralion number.. 1151868 Ihe Hwhfife Centre 2023 Annuol Rèpc*t STATEMENT OF TRUSTEES, RESPONSIBILITIES Report ol the T￿￿ee$ for Ihe year endlng 31 December 2023 The Truslees are pleased fo presenl tt)eir onnual directors, report together the chorivs consolidated financial 51atements lor Ihe year ending 31 December 2023, which are olso prepared to meet the requirements lor a directors, report ond occount5 for Companies Acl purposes. The financiol slotements COm￿Y wlh the Chorilies Act 2011. Ihe Componie5 Acl 2(X%. the Memorandum and Arlicle5 01 A5s0ClQt￿n. and Accounting and Reporting by Chorilies.. Slolemenl of Recommended Practice applicoble lo charities preparing their accounts in occordance with the Finoncial Reporting Standard opplicoble in the UK ond Republic ol lidond IFRS 1021 lefleclive I January 20151- OUR AIMS AND OBJECTIVES Puipose and Alms We are on agile ond forward-thinking orgonisalion thol co-creoles impactful progfammes w71h our service users and partners. Ovr vision is lo create a welcoming environment tt)ol removes life- improving barriers lor people from disodvanlaged and Global Mojority backgrounds. Our mission enable5 our beneficiories to become confident and produclive in theif communities. They con hove o sense ol purpose, access ie50vrces ond skills Ihot could turn th￿r aspirathons into reality, and make po%tiYe chonge5 in Iheir lives to aspire to and ochieve their full polentiol. Our charity's purposes, os set out in the objects contoined in the compony'5 Memorandum of Articles and AssociatK)n. are.. The relief ol unemployment for the benefit of the public in ways Ihal moy be thought fit, including as%slance in finding employment. The advoncement ol educalion by developing individual capabilities. compelencies. skills, and understanding enoble5 them to porlicipate in society os independent, mature. arvj responsible individuals. Thi5 Includes providing preschool ond oul-ol-school education. The prevenlion or relief of poverty or financial hordship in the UK and internationally IAtricol by providing or ossisling in the prOVi￿On of edvcation. training. healthcaie projects and all the necessory supwit designed to enable individuals lo generote o suslainoble income and be sell-5ufficient. Promote sociol inclusion for the public benefit by preventing people from becoming sociollv excluded. relieving the needs ol those who are socially excluded, ond assisling them in integrating into society through the advancement ol the orls, culture, and heiiloge. To develop the capacity ond skills ol the members ol the Block and Asion groups ond those for whom English isn't their first language in the UK in such o way Ihal they are better able lo idenlify and help meet Iheir needs and lo porlicipote more fulw in society. Promote the voluntary sector by providing training ond development. support for people working wilhin it, csnd meeting ond office spoce lor voluntory sector organisations. The Hi9hfile Centrtr 2023 Annuol Report THE FOCUS OF OUR WORK En$urlng our work dellvers our aims The aim of the charity is to address wellbeing, unemployment, social isolation, poverly ond inequality. We do this by developing ond increosing the kno￿edge ond skills ol individua15 who ore ot the morgns of society. enabling Ihose individuals to develop ond increase their chances of susloinoble employment so Ihol their quality of life is improved and ore able to lead lull ond produclive liyes. Oui oims Ivlly reflecl the puip05es thal the charity was sel up lo further. We offer o wide ronge of services fhol direclty meet the need5 of ovr client goups. These services are grouped into three main categories: l. Youth leadership development that creates opwrtunilies for young people to overcome borriers.. empowering Ihem lo be leaders who affect social change. 2. Commvnity suppoit aclivities such os foodbank, coffee and lunch clubs. welpbeing octhvities, creathve orts, ond cultural ond heritage events. 3. Bu5ine55 and Entrepreneurial 5UPPOrt that devdops Ihe enlrepreneuriol oiilities ol long-term vnemployed clients Ihrough one-to-one menloring and training sessions. Through the above services, we address and 51renglhen clients, immediate linanciol circumslonces. This siluation has been worsened by the COVID-19 pandemic ond the increasing cost of living crises. We strengthen our client's linonciol hardship Ihiough the PTovision ol specific services, such as foodbank lo help lomilies reduce their shopping costs, providing advice and gvidonce on how they can access appropriate stole benefits to ease Iheir hord5hips. ond signposting them lo olher locol services such as cilizen advice. local lomily hubs and social supermarkets acr055 the city thol could further help them lo reduce the financial hardships. We also sub&dise travel costs lo and trom services to make them accessible. For employmenl aspiratsons and ambitions. we predomlnon￿Y locus on supporting vnemployed ond long-term unemployed clients to consider 5ell-employmenl as an ollernalive to employment. This is a niche oreo ond we ore the only oigonisolion delivering culturally appropriate support lo rrwnority groups in Coventry and Wawckshire. We provide lIe￿ble and interacth've troining and one-to-one mentoring busines5 and enterprise wpporl service thot tokes clients through developing theiT confidence. bv5iness awareness. business planning. moTkeling. finance, and legal matters up to Ihe stoge when they are ready lo register their business. Additionolly. we also provide post-slart support Ihat includes hot4esking ond business incubation space5. We review our aim5. objectives and aclivities each year. This review looks al what we achieved ond Ihe outcomes ol our work in the previous 12 months. The ieview look5 01 the success of each key aclivify and the benefits they hove brought to individuals and groups we are sel up to serve. The review also helps us ensure our aim. otieclives ond oclivilFes renKJin focused on our stated purposes. We hove referred lo the guidonce contained in the Charity Commisyon's general guidance on public benefit when reviewing our aim and objectives and in planning our lulure activithes. In porlicular. the trustees consider how planned octivifies wll contribute to the aims ond objeclives Ihey have sel. The ￿lahrife Centr8 2023 Annuol Report Acknowledgements We con1inve to oppreciale all our stall. vobJnleers. porlners and most importonty (xjr principal lunders who without them would nol have achieved ovr impact. Prfnclpal Funding Sources The principal funding sources the chojity are ojrrenly by woy of gronl and controcl income from Ihe lollowng funding bodies- The Nationol Lottery Community Fund Sociol Investment Bus*ne5S Youth Investment Fund General Chorilies Heort ol England Community Foundothon OUTUNING OUR PERFORMANCE & ACHIEVEMENTS We ddivered the following projects in Ihe 2(Y23 finonciol year. Youth Vislon Project . Funded by The Nationol Lottery Communlty Fund 202112026. The prqecl improves Ihe leadership ospirolion and skills of young people and equip them to articulate their voices across various plofforms. seizng opporlunities thol foregfound tt)eir inlluence. and cieale a sea chonge in local leadership. OLFtP4Jl 43 young people engaged and supported In 2023. engaglng I Leodership Training Volunteering Evenls Monagemenl Work Experience Active Citizenship Enterprise octwilies yO￿h Investment Fund The Youth Investment Fund IYIFI supports voluntary, community and social enlerprise youlh organisalions to deliver. expond and creole high-quolity locol youth provision in laroeled commvnilies ocross Enqland. 11 ollers bolh copitol and revenue investment which hos been very helpful to the ielurtishment of the Centre in order to expond our current provision as well os creote new sustainable projecls. The Hi9bfile Centrè 2023 AnnLKJI R8PCrft FINANCIAL REVIEW We continued wtt) the three key strategic aims: Provldlng Impaclful servlces We delivered Iwo moin projec15 this yeor. We continued delNering the Youth Vision Pfoject which had o ggnilicanl and lasting impact on over 40 young people. Additionolly, we ddly￿ed a copilol project by relvrbishing the Centre to enable sustainoble programmes and expand eyisling services. Our opprecialion goes to the Notional Lottery Community Fund and the Youtt) Investment Fund lor svpporling bolh projecls. Reseples Poky The board has re-examined the charity's reswve requirements in lighl ol the main risks lo the organisotion. It ho5 eslab1ished o policy whereby the unrestricted funds not commilted or invested in longible fixed ossels held by the Charity should be three monlhs of the core running c05t5 01 the chority- The direct cost for operating the company is appro￿lmatelY £35k per quartet Ilncluding staff salories and on costs). The trustees ore confident Ihal they could continue the chority's cvrrent activities in the event of a significant drop in funding. PLANS FOR FUTURE PERIODS For the financial year 2024, the organisothon will continue lo deliver the activilie5 QTovnd Ihese three core services.. Youth leadership devdopmenl Ihot creates opportunities lor young people to overcome borriers, empowering them to be leaders who affect social change. 2. Community support activithes wch os loodbonk, coffee and lunch clvbs, well-being aclivilies, creative art5, and cultural and heritoge events. 3. 8usiness and Entrepreneu1￿1.$Upp0lt thal devdops Ihe enlrepreneuriol abilithes of long-term unemployed client5 Ihrough one-lo-one mentoring and training sessions. Wilh the Social Investment fund secured. we Kqll focus on developing new sustainable projects as slated wlhin our strotegic plon and also conlinue lo deliver existing projects. Our moin oim is devdoping linor)ciol resilienl projects inclvding hovsing. We will continue to seek grant funding for new and existing projects and seek opportunities lo build capacity ond ensure the orgonisolion is resilient in Ihe Ivlvie years. Increasing ur)Testricted funds wll be our locus lor 2024 and future years. STRUCTURE. GOVERNANCE AND MANAGEMENT Govemlng Document The Highlife Cenfre is a charitable company limiled by guarantee. incorporoted on 2151 Oclober 2010 and regislered as a charity on 2nd May 2013. The compony was esloblished under a Memorandvm ol Association, which established ils objects and powers ond is governed by its Articles ol A55ociotion. If the compony is wound up, members musl contribvle an amount not exceeding £1. 41Page The HighfiFe Cenlrt 2023 Annuol Report Recruilment ond Appolnlmenl ol Twstees The company's directors ore also chority trustees lor charity law ond are known as Dreclors under the compony's Articles. Under the Memorondum and Articles of Association requirements, the directors ore elected to serve lor Iwo years. ofler which they musl be re-elecled at the next Annual General Meeting. All directors give their time voluntori￿ and rec&ve no benefils from the charity. Any expenses reclaimed trom the chority ore set out in the notes to the accounts. The direclors seek lo ensure Ihol the needs ol beneficiorie5 are opproprialdy reflected through Ihe diversity ol the trustee body. which hos oll five directors from minority backgrounds. To mointain this brood skill mix. the directors hove been selected as having the followng skills.. business. strategy. comrrAJnity and finance. Truslee Inducllon and Tralnlng All trustee5 are fomilior wilh the praclical work ol the chority- Projecl and activity vpdotes (ze prepared and presented al each board meeling lo ensure that trustees understand the work ol the Charity. All trustees receive up-lo-dale governing documenls and any documents thot Set up Ihe chority's fromework. Resouices ond financiol positions are set out in the lolest pUL￿1$hed occount5 and presented lo Trustees bel￿e board meetings. New Irustee5 indvcted are sent a welcome pock containing the followng documents.. Memorandum and Articles. Organisationol Chorl Trustee handbook Information about existing tWStees Lolesl financial stotement Organisathonol Framework Rlsk management The chief executive ond the truslees review and update the risk register annually. Systems and procedures are established to miligale tt)e risks the charity loces. The board and the senior management leam work lo a strategic plon. The plan has led lo the establishment ol a suslainabifity orm. WAV A Holl in this financiol yeor. and for the diversilication ol funding ond oclivilies. Internal control risks ore minimised by Ihe implemenlalion ol procedures lor the Oulhorisol￿n ol all tranx]clions and projects. Appropriate procedures are in place to ensure complionce wth the health and solety ol staff, volunteers. clients and visltors lo the centre. The continuing implementation ol a code ol proclice. linoncial policies and procedures. 50feguording and complaints procedure and a bu5ines5 continuity policy ensure a consistent quality ol delivery lor all operolional aspects ol the chority. These procedures are periodically reviewed lo ensure Ihot they continue to meet the needs of the charity. OTgon15(rtlonal Structure The five trustees are from various prolessK)nal bockgfounds relevant lo the charity's work in goveming the Highlife Centre. The chief executive slt5 on the board bul has no voting righ15 ond prepares all documents lor review before board meetings. The doy-lo-doy responsibility for providing Ihe services rests with the chief executive, who works closely wlh the chair ol Trustees. The chief executive is responsible IOT ensuring that the charity delivers the services specified and thot key perlormonce indicators ore met. They ore 0150 responsible for the doy-to-doy operalionol monagemenl of the Cenlre, individual supervision ol the stolf teom ond ensuring that the leom conlinues lo develop their skills and working praclices in line with wod practice. The Highfif& Cenlre 2023 Annuol Report RESPONSIBILITIES OF THE BOARD Company law requires the board ol directorsltru5tees lo prepare linonciol statements lu eoch linanciol year. which gives on accurate ond fair view ol the slole ol the ollairs of the charitable company as ol the bolonce sheet dale. The statement olso includes the incoming ond application ol resources. including income ond expenditure, lor the financial yeor. In preparing Ih05e finonciol slalemenls, the Trustees follow best practices ond.. Selecl suitable occovnling policie5 and then opply them consislenlly: Moke judgement5 Qnd e51imales that ore reosonable and ryudenl; and Prepare the linanciol slolement5 on a concern bosis unless il is not appropriate lo assume Ihot the company will conlinve on that ba%s. The Board ol Trustees is responsible for mainloining proper occounthng records, ￿lCh disclose with reosonoble occuracy at any lime Ihe financial position ol the choriloble compony and enable them lo ensure thal the financial stalemenls comply with the Companie5 Acl 1985. The boord ol Irvstees is also responsible lor saleguaiding the assets ol the choriloble comwny and. hence, for laksng reosonoble slep5 to PFevent ond detect fraud and other wregularithes. Membera of the Board The Boord of Trustees. directors for company low ond trustees lor charity low, who served during the yeor and up lo the dale ol this reporl. ore sel out on page 2. In accordance wilh compony low, 0$ the company's directors, we certify Ihol: So for as we are owore, there is no rdevont audit inlormation on the compony's Auditors are unaware of and As the company's directors, we hove token all Ihe sleps to moke ourselves oware ol ony relevonl audit information and estoblish thal the charity's accovF)tants are aware of Ihal informathon. Accounlonts and Independenl Examiners McGlone and Wordzynski Limited were re-appointed os the charitable compony's occounlanls during the year and expressed th&r willingness lo continue. This report has been prepored according to the Slalemenl of Recommended Practice: Accounting ond Reporting by Charities li55ued in Mofch 2CQ51 and in accordonce wilh the Special provisions ol Port Vll ol the Componies Act 1985 relating to small entities. Jun 2,2025 Approved by theTrusleeson......................... . ond signed on ils behalf by= Daisy Oppon Chair of Trus*ee5 61Page Charfty registration number 1151868 Company registration numb•r 07415399 (England and Wales) THE HIGHLIFE CENTRE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 THE HIGHLIFE CENTRE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Tru#tèè8 Mrs D Oppon Mr T Labeodan Mr K Asiedu-olfei Kyei Nkelia Shabana Sarguro Charity number 1151868 Company number 07415399 Re9i8tsred offic• 31 Barras Greèn Coventry Wesl Midlands CV2 4LY Independent examiner McGlonÈ Wardzynski Limited First Floor Eagle House 14 Queens Road Coventy CV13EG THE HIGHLIFE CENTRE LIMITED CONTENTS Page Trustees. report Independent examinerfs report ststement of fin8nryal activi(ies Balance sheet Notes to the financial statements 6-19 THE HIGHLIFE CENTRE LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The Trustees, who are also the directors of The Highlife Centre Limited frjr Ihe PLtrpose of company law, are responsible for preparing the Trustees, Report and the ffinancial stslemènts in accordance with applicable law and Unrted K¢'ngdom Acojunling Standards (United Kingdom GenerallyA￿￿p1tsd Accounting Practicel. Company Law requires the Trustees to prepare financial statements for each financial year which gThie a true and fair wew ol the state of affairs of the Charity and of the incoming resources and application of resources, induding the income and expendilure, of the charitablè company for that year. In preparing these financkgl statements, the Trustees are required to.. select suitable accounting policies and then apply them consislenlly., observe the method5 and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent.. stale whether applicable UK Accounting Stsnd8ids have been followed, subject to any malerial departurgs disclosed and explained in the financial statements., and Pfepare the ffinancial statèments on the going concem basis unless il is inappropriate lo presume that the Charity will continue in operatK)n. The Trustees are responsible ft)I keeping adequate aco)unting records that disdose with reasonable accuracy al any lime the financial position of the Charty and enable them to ensure that the finan￿31 statern@nt5 comply with the Cornpanies Act 2006. They are also responsible tor safeguarding the assets of the Charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. THE HIGHLIFE CENTRE LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HIGHLIFE CENTRE LIMITED I report to the Trustees on my examination of the financial slalements of The Highlife Centre Limited Ilhe Charity) for the year ended 31 D&¢ember 2023. R￿ponSIbIlItIa$ and basls of report As the Trustees of the Gharity land also its dlrectors for the purposes of cornpany18wl you are responsible for the preparation of the financial staltsmenls in accordanGe with the requifements of the Companies Act 2008 (the 2006 Acll. Having saiisfied myself that the financial slatemenls of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect tsf my examination of the Charity's financial staternents carried out under section 145 of the Charities Act 2011 (the 2011 Acll. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145lSllbl ol the 2011 Act. Ind•p•ndont 8xamlnèrfs stst8m#nt Since the Charity's gross income excèedèd £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualtfied to undertake the examination because l am a member of Assouation ofAccounting Tèchni(#ans. whith is one of the listed bodies. I havè completed my exarninalion. I CAJnfimi that no matters have come to my attention in connection with the examination givsng me cause lo believe that in any material respect.. accounting records were not kèpt in respect of the Charity as required by section 386 of the 2006 Act., or the financial slalemenls do not accord with those records", or the finanaal statements do not comply with the accounting requirements of section 396 01 the 2006 Act other than any requirèmÈnl that the accounts give a true and fair vièw which is not a matter considered as part of an indeperident examination., or the financial staternen15 have not beèn prepared rn accordance with the rnelhods and principles of the Statement of Recommended Practice lor accounting and reporting by charities applicable lo charities preparing their accounts in accordance witti the Financial Reporb'ng Stsndard applicable in the UK and Republic of Ire￿nd IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in thi5 report in ord$r lo en8ble a proper understanding of the financial statements to be reached. Mr Jarnes Rose FMAAT First Floor Eagle House 14 Queens Road Coventry CV13EG Dated.. Jun 2, 2025 THE HIGHLIFE CENTRE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Current financlal ￿ar Unrestrictsd Restrletod funds funds 2023 2023 Total Totsl 2023 2022 Notes Income and endowments from: Donations and legacies Investments Other income 130,917 223,932 354.849 208 5.366 297.035 5,386 6.335 Totsl income 136.511 223,932 360,443 303.370 Ex enditure on: Charitsble activities 77,342 136,896 214,238 333,382 Net Incom￿[eXpendItUr?I for the yearf Net movemènt In funds 59,169 87,036 146.205 130.0121 Fund balances 811 January 2023 57,791 28,660 86,451 118,463 Fund balances at 31 Dec•mhr 2023 116,*0 115,696 232,656 86,451 The slalemenl of finanaal actlvilies includes all gains and losses recxjgnised in the year. The st8iement of financial actiwties I￿ude$ 811 gain3 and losses recognised in thè year. All income and expenditure derive from continuing a¢tivilies. The statem&nl ol financial aCtI￿tieS also cornplies with the reqLtiremenls for an income and expenditu￿ account nder the Companies Act 2006. THE HIGHLIFE CENTRE LIMITED STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Prior financial year Unr•$trlet•d Rèstricted fund$ lunds 2022 2022 Total 2022 Notss Income and endowments from: Donations and18gacies Olher income 17,446 6.335 279,589 297,035 6,335 Totsl income 23,781 279.589 303,370 Èndi Charitable activities 26,768 306,614 333,382 Gross transfèrs bèh¥eèn fijnds Net in¢omellexpenditurel for th• yoarl Net mov•m•nt In fund$ 39,948 139,9481 36,%1 166.9731 130.0121 Fund bal8nce8 al 1 January 2022 20,830 204.400 116.463 Fund balanc•s at 31 D•cember 2022 57,791 95.633 86.451 THE HIGHLIFE CENTRE LIMITED BALANCE SHEET AS AT31 DECEMBER 2023 2023 2022 Notes Fixed assèts Tangible assèts 12 7,506 8,831 Current assets Cash al bank and in hand 339.474 80.804 Creditor¥= amounts tslling due within ong year 14 120.5081 13,1841 Net current assets 318,968 77,620 Total assets lfrss curr•nt Ilabilitie¥ 326,472 86,451 Creditors: amounts tslling due aftor more than one year IS 193,8161 Nèt as#ets excluding pension Ilablllty 232,656 86,451 Net assèts 232,656 86.451 The funds of the Charity Restricted income funds Unre51ricted funds 17 115,696 116,960 28,6fj0 57,791 232,656 86,451 The company is entrtled to the exemption from the audit requirement conlalned in section 477 of Ihe Companies Act 20LK. for the year ended 31 December 2023. The directors acknowledge their responsibFlithes for complying with the requirements of the Companies Act 2006 with respect lo aco)unting records and the preparation of financial statements. The members have not required the company to obtain an audit ol its ffinan¢ial statements for the year in question in accordancè with section 476. These financial statements have been prepared in accordance with the prowsion5 applicable lo companies subject to the sm811 companies ragirne. Jun 2. 2025 The financial statements were approved by the Trustees on ......................... Mrs D Oppon Trustee Company re9i$lration number 07415399 (England and Wales) THE HIGHLIFE CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charlty infomiatlon The Highlife Centre Limited is a private Company limitÉd by gusrantée incorpoialgd in England and Wales. The registered office is 318arras GrÈÈn, Coventry, West Midlands, CV2 4LY. Each of thè trustges is liable lo contribute an arnount not exceeding £1 towards the assets of the charity in the event of liquidation 1.1 Accounting convention The financial statements have been prepared in acc£Jrdance with the Charity's tgoverning documentl, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. l°FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applir2ble to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The Charity is a Public Bènefrt Entrty as defined by FRS 102. The Charty has tsken advantage of the provisions In the SORP for charities not to prepare a Statement ol Cash Flows. The financial statements are prepared in sterfing. which is the functional c￿rrencY of the Charity- Monetary amounts in these financial slalements are rounded lo the nearest £. The finanaal statements have been p￿pared under the historical cost ¢onvenlion, Imodified to include the revaluation of freehold properties and lo inGlude investment properties and ¢*rtain financial instruments al falr valuel. The princip81 accounting polirAes adopted are sel out below. 1.2 Golng concern Al the time of approving the financial statemènts, the Trustees havè a reasonable expectation that the Charity has adequate resources to conts'nue in operational existence for the foreseeable futurè. Thus the Trustees continue to adopt the going (#)ncern basis of ac¢ounling in prgparing the financial stslements. 1.3 Charitsble funds Unrestrided lunds are available for use at the discrètion of the Trustees in furtherance of Iheir charitable objective5. Restricted fvnd5 are subject lo specffic c4)ndilions by donors or gianlors as lo how they may be used. The purposes and uses of the restricted funds are sel out in the notes lo the financial statements. Endowment lunds are subject to specific c4Jndrtions by donors Ihat the capital must be maintained by the Charity. 1A Income Income is recogn15ed when the Charty is legally entitled lo it after any performance conditions have been met, the amounts can be measured ￿lIably. and it is probable that income will be received. Cash donatSons 8re recogn15ed on receipt. Other donations are recognisèd once the Charty has been notified of the donab'on, unless performance conditions require deferral of the amount. Incorne tax recoverable in relation to donations received under Gift Aid 01 deeds of covenant is recognised at Ihe time of thè donation. Leg8cie5 are reeognised on receipt or otherwise if the Charity h3$ been notified of an impending di$lribulion. the amount is known, and receipt is expected. If thg arnount is not known, th& legacy is treated a3 a ontingent asset. THE HIGHLIFE CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Accounting policles (Continued) 1.S Exp•ndltu All expenditure is recognised once there is a legal or constructive obligation lo that expenditure. il is piobable settlement is required and the amount can be measured reliably. All costs are allocated lo the applicable expenditure heading that aggregatè similar costs to that category. Where costs cannot be directty attributed lo particular headings they have béen 8lloc8led on a basis consistent with the use of resources, with central staff CD$15 allocated on the basi5 of lime Spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff wsts. Charitable expenditure comprises those cos15 incurTed by the charty in the delivery of it$ 8ctwilies and S8rvi¢es for its benefici8rie5. It includes both costs that can be allocated directty lo such activities and those costs of an indirect nature ￿e￿ssary to 5UPPOrt them. These indude thè costs attributable to the charity's cornpliance with constitutional and statutory rwuirernents. induding audit, strategic rnanagement and trustees's meetings and reimbursed expenses. 1.6 Tangible fixed ass•ts T3ngible fixed assets are inilialty measured at cost and subsequently mea3ured at C4JsI or valuation, net of depreciation and any impairm8nl losses. Deprerjalion is recognised so 8S to wrf(e off the c4)st or valuation of assets less their residual values over their useful lives on the following bases.. Fixlures and fittings Computers 15% redltcing balan￿ method 330h slraighl line method The gain or loss arising on the disposHI of an asset is delerniined as the drfference beiween the sale proceeds and the carrying value of the as$et, and is recognised in the statement of financial activilies. 1.7 Impairn)ent of fixèd a¥sets At each reporting end date, the Charty reviews the carrying amounts of its tangible assets lo determine whether there is any indic*ion that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of ihe asset is e81imaled in order lo determine the extent of the impairment loss Irf any). 1.8 Cash and cash equivalents Cash and cash Èquivalents in¢lude cash in hand, deposit8 held al call with banks, other short-lem) liquid investments with original maturities of three months or less, and bank overdi8ft8. Bank overdrafts are shown within trN)rrowings in current liabilities. Baslc ffnancialassets Basic financial assets, which includ8 dèbtors and cash and bank balances, are initially mèasured at transaction price including transaction costs and are subsequently carried at arnortised cost using the effédive interest method unless the arrangement constitutas a financing transa¢tion, where the transaction is rneasLtred at the present value ol the lulure receipts discounted at a market rale of interest. Financial assets da$sified as r8c8ivable within one year are not amort18ed. THE HIGHLIFE CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ac¢ountlng pollcl8s Icontlnuadl Basic financiTal liabiTlities Basic financial liabilities, including creditors and bank loans ar6 initially recognised al transaction price unless the arrangernent conslitules a financing transadion, where thè debt instrument is measured al the present value of the fuluFe payments discounted al a market rale of Interest. Finanual liabilities dassified as payablé within one year are not amortised. Debt instruments are Subsequent￿ carried al amortised cost. using the effective inter¢$t rate method. Trade cAedilor5 are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non