Company Registration Number: 08532341 ELIFAR FOUIYDATION LIMITED A COMPANY LIMITED BY GUARANTEE (CHARITY NO. 1152416) REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 UHY
ELIFAR FOUNDATION LIMITED A COMPANY LIMITED BY GUARAiYfEE (CHARITY NO. 1152416) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IVIAY 2024 Index Page R¢port of the Board Indep¢nd¢nt examiner's report Statement of financial activities (including income and expenditure account) Balance she¢t Notes to the financial statements 10-17
ELIFAR FOUNDATION LIMITED REPORT OF THE BOARD FOR THE YEAR ENDED 31 MAY 2024 The Board is pleased to present its report along with the financial statements for the year ended 31 May 2024. The financial statemellts Iiave been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's governing document, the Companies Act 2006, the Charities Act 201 L and "Accounting and Reporting by Cliarities.- Statement of Recommeiided Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS [02)" Reference and administrative information Trustees Paul Cawood (Chainnan) Lucy Hines Neil Hockin (Appointed 4 November 20?3) Janies Huckle (Appointed I l January 2024) Williain Killick James Mead P¢t¢r Moore Company Number 08532341 Registered Charity Number 1152416 Registered Office Camelot Park Road. Dormans Park, East Grinstead RH19 2NQ Independent Examiner Rachel Chim of UHY Hacker Young LLP, Quadrant House, 4 Thomas More Square. London, Elw IYW Bankers CAF Bank Ltd, 25 Kings HAII Avenu¢, Kings Hill, West Malling, Kent, ME19 4JQ Structurej governance and management Elifar Foundation Limited became registered as a charity with the Charity Commission for England and Wales on 13 June 2013. It 15 a charitable company litnited by guarantee, with no share capital and is governed by its M¢morandum and Articles of Association dated 16 May 2013. All the trustees are members of the company and the liability of each member in the ¢vent of winding up is limited to a maxin]um of £io. Trustees are identified and appointed by the cliarity trustees themselves and serve as long as they wish, are able and qualify; one of the curi'ent trustees, Paul Cawood, is a founding tnist¢e. The trustees meet or confer frequently during the year to manag¢ the charity and coiisider grant applications. In accordance with the governing documeiit, there shall be not less than three directors at any one time. The directors, who ar¢ also the charity trustees, are nonnally elected by the members of th¢ company in a general meeting. The Board may appoint any member of the company as a director either as an additional director or to fill a casual vacancy. Any member so appointed must retire at the next annual general meeting but is eligible for re£lection. Each new trustee will receive an induction session with the Chairman and Treasurer, where th¢J' are provided with the background to the charity and its work and receive guidance on their role as a director and trustee of the charity.
ELIFAR FOUNDATION LIMITED REPORT OF THE BOARD FOR THE YEAR ENDED 31 MAY 2024 Risk Management The trustees have reviewed the major and financial risks that Ainpact on th¢ work of tlie charity. The systems that have been established enable the directors to review and take necessary steps to lessen these risks. Objectives aud Activities The Elifar Foundation was originally constituted as an unincorporated charity under a trust de¢d dated 13 November 1998. The charity was Cowfounded by Paul Cawood and the late Hilary Marsden (then Burton) to help improve the care, facilities and equipment available to profoundly disabl¢d children, young person5 and adults. The Elifar Foundation was restructured in 2013 and continues to work and improve th¢ quality of life for disabled children and adults, whether living at hom¢ or in resldential care. It do¢s this by making grants to individual children and young adults. We consider applications from disabled people, their families or involved health professionals for funding or part-funding of specific iteins of specialised equipment would otherwise be denied to them because of lack of funds or because there is no statutory provision. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they should undertake. Achievements, Performance and Grant Making Policy Diie to a shortage of funds applications were paused between 18th August 20?3 and 14th May 2024. During the year 55 grants were approved compared with 132 in the previous year and these covered a wide range of specialised equipment including wheelchairs, specialist beds, trikes, seatiniy systerns and sensory equipmeiit. Individual grants varied in value from £1 00 to £5,000. The trustees aim to spread the value of grants to fund the purchase of some hig]FbCOSt items, while at the sam¢ time supporting as many families as possible through grants for lower cost equipment. Almost half of th¢ grants awarded this year were for £1,000 oi- under and focussed on equipment that can make a tangible difference to a disabled person's life. The larger grants were for wheelchairs, specialist beds, pushchairs, trikes and coininunication equipment. some of which were part-funded with other charities. Each grant application is Considered by the grants team on an ongoing basis thi'oughout tlie y¢ar. The grants team includes one trustee and the grants manager. An approved protocol is in place and if further discussion is needed, the application is referred for consultation with the board of trustees. Clear and consistent criteria are applied with the requirernent for each application to be supported directly by a medical professional. Application forms can be requested in writing, by email or can be downloaded from our website. Demand for grants continues to be high due to the financial needs of applicants and the reduction in governillent spending on statutory provision. The Elifar Foundation's higher profjle is also driving an increased number of applications for funds and a significant rise in the level of enquiries via Elifar's website. The Elifar Foundation operates on a simple model. Funds are raised through donations and events, With the majority of these funds then allocated to individuals who apply for one•off grants. Grants are only allocated from funds received and the Foundation has no long-term financial commitments, apart from essential governance costs and payment to a part-time administrator who processes grant application5. The Elifar Foundation's fiindraising activities, grant assessillent process, charity adtninistration and governance are all carried out by the trustees and otlier supporters on a voluntary basis.
ELIFAR FOUNDATION LIMITED REPORT OF THE BOARD FOR THE YEAR ENDED 31 MAY 2024 Achievements, Performance and Grant Making Policy (continued) Well supported ndraising events during the year included the Elifar Challenge and the Brickworks Gig. A big vote of thanks goes to James Mead and colleagues for their fLmdraising efforts and participation in the Thames Walk. We are hugely gTateful for the support received from the George Lindon-Travers Memorial Race Day, to have been nominated as one of the chosen charities for various Propski events and the 2024 Surveyor's Sevens Rugby Tournament and to have been a beneficiary from the Revo Award Ceremony event. Due to the generosity of many corporates and individuals our Christmas Appeal and sale of Christmas cards raised close to £27,500. Thanks also to M&S and Tesco for their sponsorships at the Elifar Challenge. We are very grateful for the continued support received from the Colman Family, the Leaver Family Trust, The Sandhu Charitable Foundation and to the generosity of property industry organisations including Revcap Advisors Limited, Macdonald & Co, Balmain Asset Management, FMX , GCW, Sherrards, Lunson Mitchenall, JLL, Schroders, CMS, Kennedy wilso MARK, Ellandi, KLM Retail, The Crown Estate, LSH, Colliers, Essential Living, LCP Properties and Perkins Fox. Applicants living in the London boroughs of Lambeth and Wandsworth continue to receive support from funds donated in previous years by The Batters Power Station Foundation. Elifar secured sponsorship of £16,900 from companies, trusts and individuals including Revcap Advisors Limited. This sponsorship is specifically targeted at our essential administration and governance costs as the Foundation strives to ensure that all ndraising and donations go directly to disabled children, young adults and their families. Financial review Total income for the year from donations, legacies, charitable activities, cotporate sponsorship, trading activities and investments was £178,51 I compared to £233,674 in the previous year. The total spend on grants during the year was £81,456 compared to £206,684 in the previous year. The trustees, objective is to distribute the charity's income to suitable beneficiaries as quickly and efficiently as possible and this is dependent on both the level and timing of our income and the number of qualifying applications. Spending on fundraising activities during the year amounted to £25,763 to rl the 2023 Elifar Challenge event and £1,050 in marketing exp¢nscs. Expenditure on governance and support activities was £16,919 compared to £16,406 in the previous year. The trustees continue to focus hard on minimising these costs and the bulk of the support costs are for administrative assistance in running the grant-making process. Overall the charity made a nct gain during the year of £53,324 compared with net expenditure of £4,421 in the previous year. The charity's unrestricted reserves at 31 May 2024 were £73,710 compared with £13,826 in the previous year. This is in keeping with thc charity's objective of distributing only available fidS to qualifying applicants in a timely manner while complying with the charity's policy on reserves. Public benefit The trustees have complied with section 17(5) of the 201 I Charities Act, having due regard for the Charity Cornmission's guidance on public benefit when reviewing the trust's aims and objectives, when setting the grant making policy and in making awards. Thc charity has robust systems and checks in place to mitigate any losses that could potentially arise tl]rough the use of insolvent or fraudulent suppliers.
ELtFAR FOUNDATION LIMITED REPORT OF THE BOARD FOR THE YEAR ENDED 31 MAY 2024 Investment policy and performance There are no restTlCtions on the charity's power to invest and the current policy is to invest short-terni funds with the trust's bankers. Reserves policy The directors, aim is to maintain free reserves in unrestricted funds at a level that will provide sufficient funds to cover support and governance costs. The actual level of these reserves at 31 May 2024 was £73,710 (2023. £13,826). Plans for the Future The directors have no immediate plans to modify or radically change any of the objects, activities or policies described above. Trustees, responsibilities in relation to the financial statements The charity's trustees (who are also the directors of ElifaT Foundation Limited for the puryoses of company law) are responsible for PTeparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare fmancial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure account, of the charitable company for that period. In preparing these financial statements the Trustees are required to.. select suitable accounting policies and then apply them consistently observe the methods and principles in the applicable Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable UK accounting standards and statement of recommended practice 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 charitable company will continue in operation. The trustees are responsible for keeping adequatc accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and cnable them to ensure that the financial statements comply with the Companies Act 2006. They are also iesponsible for safeguarding the charitable company's assets and hence for takn'ng reasonable steps for the prevention and detection of fraud and other i¢gU]ariÈIes. The trustees are responsible for the maintenance and integrity of the corpoiate and financial infonnation included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of fnCial statements may differ from Icgislation in other jurisdictions. Small companies exemption This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
ELIFAR FOUNDA TION LIm[D REPORT OF THE BOARD FOR THE YEAR ENDED 31 MAY 2024 Approved by the trSteeS and signed on their behalf by: Lucy Hines Director Date: 14 January 2025
UHY UHY Ha¢k•rYoung LLP Quadrant Houso 4Thomas More Squaro Ld9 Elw IYW IIYDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ELIFAR FOUNDATION LIMITED FOR THE YEAR ELYDED 31 MAY 2024 I report to the ts-lislees on my examination of the financial Stat¢entS of Elifar Folmdation Limited ('the charity.) for the year ended 31 May 2024 which are set out on pages 7 to 17. Responsibilities and basis of report As the trustees of the ¢harity (and also its directors for the purposes of COTnpany law), you are responsible for the preparation of the financial statenienls in accordance with the requirements of the Companies Act 2006 ('die 2006 Act,). Having satisfied myself that the finaiicial statements of the charity are not reqiiired to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's fanCial statements Caled out under section 145 of the Charities Act 2011 ('the 201 l Act.). In arrying out tny examination I have followed the applicable Directions given by the Charity Colnmission under section 145(5)(b) of the 201 l Act. Independent examiner's st*tement I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. (l ) accounting records were not kept iii respect of the charity as required by section 386 of the 2006 A¢t- or (2) the financial ststemenls do not ac¢ord with those rccords,. or (3) the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that th¢ a¢cOltS give a 'true and fair view, which is not a matter considered as part of an independ¢nl examination. or (4) the financial statements have not beeii 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 a¢cordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I havc no conCn5 and have come across no other matter5 in connection with th¢ examination to which attention should be drawn in this ieport in order lo enable a proper understanding of the financial statements to be reached. Rachel Chim FCCA UHY Hacker Young Quadrant House 4 Thomas Mor¢ Square London Elw IYW Date.. kl January 2025
ELIFAR FOUNDATION LIMITED STATEMEiYf OF FINANCIAL ACTIVITIES {INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEARENDED 31 IVIAY2024 Current financial year Note Unrestricted Restricted funds rullds Total 2024 Total 2023 Income and endowments from: Donations and legacies Charitable activities Sponsorship Other trading activities Investments 81,501 79.082 16,900 669 359 81,501 79,082 16,900 669 359 152,034 17,000 894 182 Total income 178,511 178.511 233,674 Expenditure on: Raisrng funds Charitable activities 26,813 91,814 26,813 98.374 15,005 223,090 6,560 Total expenditure 118,627 6,560 125,187 238,095 Net (expenditure)/ income 59.884 (6,560) 53,324 {4,421) Reconciliation of funds Total funds brought forward 13,826 16,373 30,199 34,620 Total funds carried forward 73,710 9,813 83,523 30,199 The r¢sults for the year are derived froin coiitinuing operations. There were no recognised gains or losses, other than those passing through the statement of financial activities.
ELIFAR FOUNDATION LIMITED STATEMEI¥4T OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAY 2024 Prior financial year Note Unrestricted Restricted funds funds Total 2023 Total 2022 Income and endowments from: Donations and leTracies Charitable activities Sponsorship Other trading activities Investments 137,034 63,564 17.000 894 182 15,000 152,034 6i,564 17,000 894 18? 162,177 15,000 975 Total income 218.674 15,000 233,674 178,155 Expenditure on: Raising funds Charitable activiti¢s 15,005 215,166 15,005 ?23,090 7,924 192,3J I Total expenditure 2JO,171 7,924 238,095 193,634 Net (expenditure)/ income (11,497) 7,076 (4,421) (15,479) Reconciliation of funds Total funds brought forward 25.3?3 9,297 34,620 50,099 Total funds Carried fonvard 13,826 16J73 30,199 34,620 The results for the year are derived from continuin(r operations. There were no recognised gains or losses. other than those passing through the statement of ftnancial activities.
ELIFAR FOUNDATION LtMrrED BALANCE SHEET AS AT 31 MAY 2024 2024 Totsl 2023 Tot81 Notes Current wets DebioT Cash at bank and in hand 42.639 109,107 65.281 151,746 129,172 CredAtors: amounts falling du¢ within one year 12 (68223) (98,973) Net assets 83,523 30.199 The funds of the ¢harity Restricted funds Unrestricted funds 14 9,813 73.710 16.37) 13,826 S3,523 For the year ended 3 l May 2024 the Company was entitled to exemption from audit under section 477 of the compani Aot 2006 relating to small Gompanies. DiTectOTS' re5POn5ibilities: T"he membeTS have not required the company to obtain an audit ot its financial staternents for the year im question in accord]Ce with section 476- The dTre¢tnr% aoknnwledg¢ their re*pnnsihTlities fnr enmplying with the requitemenLS of the Act wtth respect to accounting records and the Prepation of financial statements. These awounts are prepared in ac¢ord8n¢e with the special provisions of Part 15 of the Companies Act 2006 relating to Small Gornpanies and constitute the ann[1 a¢couDts required by the Companies Act 2006 and are for cirLulation to menibers of the company. The fInancial statements on pages 7 to 17 were approved by the Board and authorised for issue on 19 January 2025 and ate signed on thetr khalf by: Lucy Hines Dire¢tor Company Re%i5trntlOD No: 08532341
ELIFAR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IVIAY 2024 Accounting policies 1.1 Basis of preparation The financial statements have been prepared in accordance with the "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with th¢ Financial Reporting Standard applicable in tlie UK and Repiiblic of Ireland {FRS 102)" the Charities Act ?01 l and the Companies Act 2006. The cliarity is a Public Ben¢fit Entity as defined by FRS I O? The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the Iiistorical cost convention. The principal accounting policies adopted ar¢ set out below. 1.2 Going eoneern At the time of approving the financial statements,, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the forese¢able future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Funds structure Unrestricted funds are available for use at tlie discretion of tlie trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set oiit in the notes to the financial statements. 1.4 Income recognition Grants, donations and other income are credited to th¢ statement of financial activities in the year to which they relate. Grants and donations will be recognised on an entitlement basis and when receipt is certain. Other income, including investment income, is recognised on an accruals basis. Income is credited to incoming resources when the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably, unless it relates to a specific future period, in which case it is deferred. 1.5 Expenditure recognition Liabilitie5 are recognised as resources expended as soon as there is a legal or constructive obligation ommitting the charity to the expenditure. All expenditure is accounted for on an accruals basis and lias been classified under lieadings that aggretrate all costs related to the category. io
ELIFAR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Accounting policies (continued) 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings Kn cuent liabilities. 1.7 Financial instruments The charity has elected to apply the provisions of S¢ction I I 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issue5, of FRS 102 to all of its financial instruments. Financial instruments are recognised in tlie charity's balance sheet when the charity becomes party to the contractual provisions of the instrutneiit. Financial assets and liabilities are offset, with the net amoiints presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is ali Éiitention to settle on a nei bdsis or to realise the asset and settle the liability simultaneoiisly. Basicfinftntial afsets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction pric¢ including transaction costs and are subsequently carried at amortised cost using the effective interest metliod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial asset5 classified as r¢c¢ivable within one year are not amortised. Basicfinaiiciul liabililies Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangeinent constitut¢s a finanLing transaction. where the debt instrument is Imeasured at the present value of the future payn]ents discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classitied as current liabilities if payment is due witliin one year or less. If not, they are presented as nonwcurrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition offinancial liabililies Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.8 Irrecoverable VAT Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
ELIFAR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Accounting policies (continued) 1.9 Charitable activities Costs of charitable activities include grants made. 1.10 Allocation of support costs Support costs are those fuiictions that assist the work of the charity but do not directly undertake charitable activiti¢s. Support costs include back office costs, financ¢, personnel and governance costs which support the charity's activities. All support and governance costs relate to expenditur¢ on charitable activities and hav¢ been allocated accordingly. Donation5 and legacies Unrestricted funds Restricted funds 2024 Total 2023 Tot41 Donations and l¢gacies 81,501 81,501 152,034 For the year ended 31 May 2023 137,034 15,000 152,034 Unrestricted funds R¢stri¢ted funds 2024 Total 2023 Total Donations and legacies Christmas Appeals Lindon-Travers Memorial Race days Propski Events Surveyor Sevens Rugby May 2024 Thames Walk SepteLnber 202J S Murphy donation Other donations GCW donation Brickworks Gig June 2023 Revo Award Cereniony December 2023 Sheryard5 donation Football Fantasy August 2023 London to Brighton Cycle Sept 2022 RWGC Golf Event March 2023 BPSF donation Prebendal School donations Propshoot Event MMX Bigr Walk May 2023 LSH Charity ofthe Year 2023 Brighton Marathon April 2023 Gooch cycle May 2022 Amazon Smile Gift aid 26,778 11,975 10,795 5,115 5,028 5,000 4.805 2,668 2,334 1,905 1,064 463 ?6,778 11,975 10,795 5,115 5.028 5.000 4.805 2,668 2,334 1,905 1,064 463 13,329 10,500 5.158 44,286 17.856 15,000 13,490 8,043 4,786 4,325 2.593 193 145 7,057 3,571 3,571 81,501 81.501 152,034 12
ELIFAR FOUNDATION LIivirrED NOTES TO THE FINANCIAL STATEMEiYrs FOR THE YEAR ENDED 31 MAY 2024 Charitable activities Unrestricted Restricted funds funds 2024 Total 2023 Total Elifar challenge income 79,082 79,082 63,564 Other trading activities Unrestricted Restricted funds funds 2024 Total 2023 Total Sale of Christmas cards 669 669 894 Investment income Unrestricted Restricted funds funds 2024 2023 Bank interest receivable 359 359 182 Expenditure on raising funds 2024 2023 Marketing expenses Elifar challenge expenses 1,050 ?5,763 22 14,983 26,813 15,005 The Elifar Challenge is a fundraising corporate activity event run by the charity. Expenditure on charitable activities Unrestrieted Restricted funds funds Total 2024 Total 2023 For the year eiid¢d 31 May 2024: Grants paid to individuals Support and governance costs (see note 8) 74,895 16,919 6,560 81,455 206,684 16.919 16,406 91.814 6,560 98,374 223,090 13
ELIFAR FOUNDATION LIMrrED NOTES TO THE FINANCIAL STATEMEIYTS FOR THE YEAR ENDED 31 MAY 2024 Expenditure on charitable activities {continued) Unrestricted Restricted funds funds Total 2023 Total 2022 For the year ended 31 May ?023: Grants paid to individuals Support and governance costs (see note 8) 198,760 16,406 7,924 206,684 178,118 16,406 14,213 215,166 7,924 223.090 192,331 Allocation of support and governance costs The cliarity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance fiinction. Support Governance costs costs Total 2024 Total 2023 Administrative assistance Office costs Insurance Bank charges Independent examiner's fee 14,256 1,020 592 61 14,256 1,020 592 61 990 13,075 1,741 507 990 990 Total support and governance costs 15,929 990 16.919 16.406 Support Governance Costs costs Total 2023 Total 2022 Administrative assistance Office and website costs Insurance Bank charges Ind¢pendent examiner's fee 13,075 1,741 507 93 13,075 1.741 507 93 990 1.222 541 120 990 990 Total support and governance costs 15.416 990 16,406 14,213 All support and govemance costs are incurred in connection with charitable activities and have been allocated accordingly. 14
ELIFAR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Independent examiner's remuneration The remuneration constituted an independent eminatIon fee of £990 (2023.. £990). io. Directors, remuneration No director or any person connected with a director has received or is due to receive any remuneration or expenses for the year directly or indirectly from the Charity's funds. 11. Debtors 2024 2023 Trade debtors Prepayments Other debtors 38,058 681 3,900 44,013 8,168 13,100 42,639 65,281 12. Creditors: Amounts falling due within one year 2024 2023 Trade creditors Grants payable Accruals Deferred income (see note 13) 1,254 1,606 30,938 990 65.439 990 65,979 98,973 13. Deferred income Deferred income comprises funds received in advance of fundraising events held after the year end. 2024 Balance as at l June 2023 Movement in the year 65,439 540 Balance as at 31 May 2024 65,979 15
ELIFAR FOUNDATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 14. Restricted funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for sp¢cific purposes: Year ended 31 May 2024 Movement in funds Incoming Resources Balanee at 31 resources expended May 2024 Balance at I June 2023 Restricted funds 16,373 (6,560) 9,813 Year ended 31 May 2023 Movement in funds Incoming Resources Balance at 31 resources expended May 2023 Balance at I June 2022 Restricted funds 9,297 15,000 (7,924) 16,373 The restricted fiinds are donations received from BPS Foundation to provide grants for applications in Lambeth and Wandsworth. 15. Analysis of net assets between funds Unrestricted funds Restricted funds Total 2024 Total 2023 Fund balances at 31 May 2024 are represented by: CuiTent assetd(liabilities) 73,710 9,813 83,5?3 30,199 73,710 9,813 83,523 30,199 Unrestricted funds Restricted funds Total 2023 Total 2022 Fund balances at 31 May 2023 are represent¢d by.. Current assetsl(liabilities) 13,826 16,373 30,199 34,620 13,826 16,373 30,199 34,620 16
ELIFAR FOUNDATION LIMITED OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 16. Company limited by guarantee The lirnit of the total guarantees of the members of the company amounted to a maximum of £50 at the beginning of the year and £70 at th¢ end of the year. 17. Taxation As a charity the organisation is exempt from UK corporation tax to the extent that its income is applied to its charitable objects. No liability arose in the p¢riod. 18. Related party transactions During the year the charity received corporate donations of £18,250 (?0?3= £12,250) from Revcap Advisors Limited. The trustee W J Killick is a director of Revcap Advisors Limited. During tlie year tli¢ charity received corporate donations of £3.950 (202J.' £IO,000) froni Macdonald & Coinpany Group Lirnited. The trustee P Moore is a director of Macdonald & Company Group Limited. During the year the charity received corporate donations of £1,975 (2023.. £2,500) from Fawc¢tt Mead Limited. The trustee J Mead is a director of Fawcett Mead Limited. During the year the charity received corporate donations of £3.950 (?023.. £3,750) from Lunson Mitchenall Limited. The trustee N Hockin is a director of Lun50n Mitchenall Limited. During the year the charity received a donation of £3,120 (2023.. £Nil) from trustee James Huckle. 17