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← Serve On Ltd

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 07883243 (England and Wales) REGISTERED CHARITY NUMBER:1156504

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Serve On Limited

Louise Newman & Co Ltd

2 Bath Mews Bath Parade Cheltenham Gloucestershire GL53 7HL

Serve On Limited

Contents of the Financial Statements for the Year Ended 31 March 2025

Page
Report of the Trustees 1
Report of the Chairperson 2
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6 to 7
Notes to the Financial Statements 8 to 13
Detailed Statement of Financial Activities 14 to 15

Serve On Limited

Report of the Trustees for the Year Ended 31 March 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07883243 (England and Wales)

Registered Charity number 1156504

Registered office

155 Tulse Hill London SW2 3UP

Trustees

P S Rose – Appointed 15 September 2025

F Muzammal – Appointed 11 November 2023 A Dhanani - Appointed 24[th] August 2019

L Collins - Appointed on 16 November 2024. Resigned on 11 June 2025

S Edwards - Appointed on 24 August 2019. Resigned on 14 January 2025 P Parry - Appointed on 16 November 2024. Resigned on 8 January 2025

Company Secretary

Independent Examiner

Louise Newman & Co Ltd 2 Bath Mews Bath Parade Cheltenham Gloucestershire GL53 7HL

Approved by order of the board of trustees on 15th December 2025 and signed on its behalf by:

............................................................................... Paul Rose - Trustee

1

Serve On Ltd

Report of the Chairperson

For the Year Ended 31[st] March 2025

Reference and Administrative Details

Serve On Limited is a company limited by guarantee and a registered charity (Charity number 1156504; Company number 07883243). The registered office is 155 Tulse Hill, London, SW2 3UP.

The trustees who served during the year are listed in the financial statements. Louise Newman & Co Ltd acted as Independent Examiner.

Structure, Governance and Management

The charity is governed by its Memorandum and Articles of Association and managed by a Board of Trustees, who are also directors for the purposes of company law. The trustees are responsible for setting strategy, overseeing operations, and ensuring compliance with legal and regulatory requirements.

Objectives and Public Benefit

The charity’s objects are to advance social and community development through training, project delivery, and community-based initiatives. The trustees have had regard to the Charity Commission’s guidance on public benefit and believe that the charity’s activities during the year provided clear public benefit in furtherance of its charitable purposes.

Activities and Achievements

During the year ended 31 March 2025, the charity delivered charitable activities primarily focused on training and project delivery. Activity levels reduced compared to the prior year due to funding constraints, with trustees prioritising funded and core activities.

Financial Management, Governance and Future Sustainability

During the year, the trustees identified a historic posting and fund-allocation error relating to the classification of income and expenditure. The trustees confirm that charitable funds were applied for their intended purposes, and the issues related to presentation rather than misuse. These matters have now been fully reviewed and corrected.

Governance and financial oversight have been strengthened through the appointment of a new Chair, a finance volunteer, and a new external accountant for the 2025/26 financial year. The charity is also migrating its accounting system to Xero, with implementation being supported by an independent accountancy practice.

Income reduced during the year, reflecting a sharp fall in donations (£23,222 compared to £47,866 in the prior year) and the absence of organised fundraising activity. In response, the trustees reduced expenditure significantly, including lower training and equipment costs, while maintaining delivery of core charitable activities.

Premises costs remained high during the year due to an existing lease. This lease has since ended, and the charity now has free accommodation and currently zero rental costs, materially reducing fixed expenditure and improving financial resilience.

During the year, £21,372 of restricted funds were released following the completion of the relevant projects (including the ABF Soldiers’ Charity and SEPD Resilient Communities Fund), in line with donor conditions. Despite this, unrestricted funds were negative at year end, reflecting historic commitments and reduced income.

Since the year end, the charity has taken decisive steps to restore sustainability, including reducing expenditure to essential levels, appointing a new volunteer fundraiser, raising several thousand pounds, confirming fundraising events, and developing a clear fundraising growth plan. New trustees are expected to join, further strengthening leadership capacity.

The trustees believe these actions demonstrate effective governance, improved financial control, and a credible plan for sustainability, and accordingly have prepared the accounts on a going concern basis.

2

Risk Management

The trustees regularly review the major risks the charity is exposed to and have established systems and procedures to manage and mitigate them.

The principal risks identified during the year relate to income generation, cost control, and operational sustainability. These risks are managed through active financial monitoring, prudent budgeting, diversification of income streams, and the prioritisation of core charitable activities. Governance and financial oversight have been strengthened through enhanced trustee engagement, professional support, and improvements to financial systems and controls.

The trustees consider that appropriate steps have been taken to manage the charity’s exposure to these risks.

Approval

This report was approved by the Board of Trustees and authorised for issue on 16 January 2026 and signed on its behalf by:

Farooq Muzammal

Trustee

3

Independent Examiner's Report to the Trustees of Serve On Limited

Independent examiner's report to the trustees of Serve On Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been 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 accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Louise Newman & Co Ltd A.C.C.A Louise Newman & Co Ltd 2 Bath Mews Bath Parade Cheltenham Gloucestershire GL53 7HL

Date: 15[th] December 2025

4

Serve On Limited

Statement of Financial Activities for the Year Ended 31 March 2025

INCOME AND ENDOWMENTS FROM
Donations and legacies
23,222
Charitable activities
Training
33,674
Evolsar
-
SEPD Resiliaent Communities Fund
-
Grant Income
-
Golden Awards RFL
-
Other trading activities
2
-
Investment income
3
897
Total
57,793
EXPENDITURE ON
Charitable activities
Training
11,154
Project Delivery Services
31,222
Equipment
17,271
Marketing & Publicity
-
Volunteer Training
58
Depreciation
6,265
Premises
47,242
Evolsar
-
SEPD Resilient Communities Fund
-
Rookies Programme
-
Turkey earthquake
-
Other
9,584
Total
123,053
NET INCOME/(EXPENDITURE)
(65,260)
Transfers between funds
11
21,372
Net movement in funds
(43,888)
RECONCILIATION OF FUNDS
Total funds brought forward
36,505
TOTAL FUNDS CARRIED FORWARD
(7,383)
Unrestricted
Fund
Notes
£
Raising funds
257		 -
-
-
-
14,471
-
-
-
14,471
-
-
-
-
-
-
-
-
-
-
-
-
-
14,471
(21,372)
(6,901)
23,852
16,951
Restricted
Fund
£
-		 23,222
47,866
33,674
35,038
-
-
-
-
14,471
8,184
-
-
-
5,100
897
1,488
72,264
97,676
11,154
38,834
31,222
32,541
17,271
36,390
-
263
58
1,090
6,265
8,184
47,242
49,852
-
11,641
-
2,690
-
13,875
-
2,984
9,584
853
123,053
199,375
(50,789)
(101,699)
-
-
(50,789)
(101,699)
60,357 162,056
9,598
60,357
31.3.25
31.3.24
Total
Total
Funds
Funds
£
£
257
178

5

The notes form part of these financial statements

Serve On Limited

Balance Sheet

31 March 2025

31.3.25 31.3.24
Unrestricted Restricted Total Total
Fund Fund Funds Funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 7 945 - 945 7,210
CURRENT ASSETS
Stocks 8 1,739 - 1,739 1,740
Debtors 9 2,721 - 2,721 28,522
Prepayments and accrued income 7,228 - 7,228 6,120
Cash at bank and in hand 3,726 16,951 20,677 59,091
15,414 16,951 32,365 95,474
CREDITORS
Amounts falling due within one year 10 (23,742) - (23,742) (32,323)
NET CURRENT ASSETS (8,328) 16,951 8,623 63,151
TOTAL ASSETS LESS CURRENT LIABILITIES (7,383) 16,951 9,568 63,395
NET ASSETS (7,383) 16,951 9,568 60,357
FUNDS 11
Unrestricted funds (7,383) 36,505
Restricted funds 16,951 23,852
TOTAL FUNDS 9,568 60,357

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

6 The notes form part of these financial statements

Serve On Limited

Balance Sheet - continued

31 March 2025

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 15[th] December 2025 and were signed on its behalf by:

............................................. Trustee

7

The notes form part of these financial statements

Serve On Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

8

Serve On Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

2. OTHER TRADING ACTIVITIES
31.3.25 31.3.24
£ £
Fundraising events - 5,100
3. INVESTMENT INCOME
31.3.25 31.3.24
£ £
Interest receivable - trading 897 1,488
4. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
31.3.25 31.3.24
£ £
Auditors' remuneration 914 853
Professional Fees 8,670
Depreciation - owned assets 6,265 8,184

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
47,866
Charitable activities
Training
35,038
Evolsar
-
Grant Income
8,184
Golden Awards RFL
5,100
Investment income
1,488
Total
97,676
EXPENDITURE ON
Raising funds
178
Charitable activities
Training
38,834		 Restricted
fund
£
-
-
-
-
-
-
-
-
-		 Total
funds
£
47,866
35,038
-
8,184
5,100
1,488
97,676
178
38,834

9

Serve On Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted
Restricted
fund
fund
£
£
Project Delivery Services
32,541
-
Equipment
36,390
-
Marketing & Publicity
263
Volunteer Training
1,090
-
Depreciation
8,184
-
Premises
49,852
Evolsar
11,641
SEP Resilient Communities Fund
-
2,690
Rookies Programme
-
13,875
Turkey earthquake
-
2,984
Other
853
-
Total
168,185
31,190
NET INCOME
(70,509)
(31,190)
Transfer Between Funds
28,512
(28,512)
RECONCILIATION OF FUNDS
Total funds brought forward
78,502
83,554
TOTAL FUNDS CARRIED FORWARD
36,505
23,852
7.
TANGIBLE FIXED ASSETS
Motor
Rescue
vehicles
equipment
£
£
COST
At 1 April 2024
50,157
46,974
Disposals
(18,099)
(3,639)
At 31 March 2025
32,058
43,335
DEPRECIATION
At 1 April 2024
45,714
44,207
Charge for year
4,443
1,822
Disposals
(18,099)
(3,639)
At 31 March 2025
32,058
42,390
NET BOOK VALUE
At 31 March 2025
-
945
At 31 March 2024
4,443
2,767		 Total
funds
£
32,541
36,390
263
1,090
8,184
49,852
11,641
2,690
13,875
2,984
853
199,375
(101,699)
162,056
60,357
Totals
£
97,131
(21,738)
75,393
89,921
6,265
(21,738)
74,448
945
7,210

10

Serve On Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

8. STOCKS

Stocks
9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Undeposited Funds
Payables
VAT
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
IRT Deployment fund
Social security and other taxes
Customer Deposits
Deferred income
VAT
Accrued expenses
11.
MOVEMENT IN FUNDS
Net
movement
At 1.4.24
in funds
£
£
Unrestricted funds
General fund
36,505
(65,260)
Restricted funds
Restricted
23,852
14,471
TOTAL FUNDS
60,357
(50,789)		 31.3.25
£
1,739
31.3.25
£
-
-
2,721
-
2,721
31.3.25
£
-
15,000
(1,262)
-
9,254
-
23,742
Transfers
between
funds
£
21,372
(21,372)
-		 31.3.24
£
1,740
31.3.24
£
14,034
2,000
10,959
1,529
28,522
31.3.24
£
17,879
15,000
(2,102)
24
6,965
1,520
39,286
At
31.3.25
£
(7,383)
16,951
9,568

11

Serve On Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

11. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
resources
£
57,793
14,471
72,264		 Resources
Movement
expended
in funds
£
£
(123,053)
(65,260)
-
14,471
(123,053)
(50,789)

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 Net
movement
At 1.4.23
in funds
£
£
78,502
(41,997)
83,554
(59,702)
162,056
(101,699)		 At
31.3.24
£
36,505
23,852
60,357

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS		 Incoming
resources
£
97,676
-
97,676		 Resources
Movement
expended
in funds
£
£
(168,185)
(70,509)
(31,190)
(31,190)
(199,375)
(101,699)

12

Serve On Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

12. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

13

Serve On Limited

Detailed Statement of Financial Activities
for the Year Ended 31 March 2025
31.3.25 31.3.24
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 20,128 45,207
Gift aid 3,094 2,659
23,222 47,866
Other trading activities
Fundraising events - 5,100
Investment income
Interest receivable - trading 897 1,488
Charitable activities
Grants 14,471 8,184
Training 33,674 35,038
Total incoming resources 72,264 97,676
EXPENDITURE
Other trading activities
Fundraising Expenses 257 178
Charitable activities
Training 11,154 38,834
Project Delivery 31,222 32,541
Equipment 17,271 36,390
Marketing /Publicity - 263
Volunteer Training 58 1,090
Premises 47,242 49,852
Depreciation of tangible fixed assets 6,265 5,146
Evolsar 11,641
SEP Resilient Communities Fund 2,690
Rookies Programme 13,875
Turkey Earthquake 2,984
Legal & Professional 8,670
122,139 198,522

14

Serve On Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Detailed Statement of Financial Activities
for the Year Ended 31 March 2025
31.3.25 31.3.24
£ £
Governance costs
Accountancy and legal fees 914 853
914 853
Total resources expended 123,053 196,337
Net (expenditure)/income (50,789) (101,699)

15