**Charity Registration No. 1158447** ## **TRANSFORMING LIVES** **REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MAY 2022** ## **TRANSFORMING LIVES** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Charity number**|1158447| |---|---| |**Trustees**|Mrs C Marshall| ||Mr M Marshall| ||Mr P Marshall| ||Dr K Sutton| |**Registered office**|Brick Bank| ||Brick Bank Lane| ||Allostock| ||Cheshire| ||WA16 9LY| |**Accountants**|RSM UK Tax and Accounting Limited| ||Chartered Accountants| ||Central Square| ||5th Floor| ||29 Wellington Street| ||Leeds| ||LS1 4DL| |**Bankers**|Santander| ||Bridle Road| ||Bootle| ||Liverpool| ||L30 4GB| |**Independent examiner**|Richard Lewis FCCA| ||RSM UK Tax and Accounting Limited| ||Chartered Accountants| ||2 Humber Quays| ||Wellington Street West| ||Hull| ||HU1 2BN| ## **TRANSFORMING LIVES** ## **TRUSTEES' REPORT** ## **FOR THE YEAR ENDED 30 MAY 2022** The trustees present their report and financial statements for the year ended 30 May 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed, the Charities Act 2011 and "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)" published on 16 July 2014 and as amended from 1 January 2019. ## **Objectives and activities** The charity's objects are to support the lives of those less fortunate. The trustees confirm that they have considered the guidance provided by the Charity Commission on public benefit when reviewing the charity's objectives and activities. The trustees will make donations to the charity at such times as they encounter people whom they feel obliged to help. As such, it is not foreseen that the charity will have cash reserves sufficient enough to generate a significant return. The charity also helps fund an annual cycling event called the Duchenne Dash through making donations to the charity that organises this, Duchenne UK (charity no. 1147094). The charity receives donations from the public which is subsequently passed on to Duchenne UK through Transforming Lives' donations. The trustees meet annually and at other times as may be necessary to consider the finances of the charity and to discuss donations. ## **Grant making policy** The charity has established its grant making policy to benefit charitable objects and individuals in the United Kingdom as the trustees see fit. ## **Financial review** The charity incurred net expenditure for the year of £26,736 (2021 - £57,807). The charity has net funds of £30,350 (2021 - £57,086) and is reliant on the ongoing support of its trustees. ## **Performance & achievements** The charity has continued to have regard to its primary purpose. Apart from charitable donations and a small amount of bank interest income the charity has not raised additional funds during the period. During the year, the charity has supported the work done by other specific charities, namely The Onside Foundation, Brain Tumour Research and Duchenne UK and will likely continue to make donations in the future. ## **Risk management** The trustees do not consider the charity is subject to any substantial risks beyond the liabilities disclosed in the financial statements. ## **Reserves policy** The trustees consider the reserves policy to be satisfactory. When additional funds are raised these are likely to be used soon after receipt to further support the individuals and institutions benefitting from the charity. At the year-end, the charity had unrestricted reserves totalling £30,350 (2021 - £57,086). - 1 - ## **TRANSFORMING LIVES** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 MAY 2022** ## **Plans for the future** It is the charity's intention to continue working with families identified as requiring specific financial and physical help, along with supporting the work of specific charities such as The Onside Foundation and Duchenne UK. The trustees have reviewed the current economic environment and the impact of the cost of living and their effect on the ability of the trust to continue. Taking account of the availability of working capital, the trustees have concluded that the trust will be able to continue to meet its financial obligations as they fall due for at least twelve months from the date of approval of these financial statements. Consequently, these financial statements have been prepared on the basis that the trust is a going concern. ## **Structure, governance and management** The charity is constituted as a Charitable Incorporated Organisation ("CIO") under its Constitution dated 30 May 2014. The charity is a registered charity (registration number 1158447). Apart from the first charity trustees, every appointed trustee must be appointed for a term of 5 years by a resolution passed by a properly convened meeting of the charity trustees. In selecting individuals for appointment as a charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. ## **Key management personnel remuneration** The trustees consider the board of trustees as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid during the year. Details of related party transactions are disclosed in note 9 to the financial statements. ## **Statement of trustees' responsibilities** The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the 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 responsible and prudent; - state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. Approved by the trustees and signed on their behalf by: ## Mike Marshall .............................. ## **Mr M Marshall** Trustee Dated: ......................... 24/05/23 - 2 - ## **TRANSFORMING LIVES** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TRANSFORMING LIVES** I report to the trustees on my examination of the accounts of Transforming Lives ('the charity') for the year ended 30 May 2022, which are set out on pages 4 to 9. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair view’ and my report is limited to those specific matters set out in the independent examiner’s statement. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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. ## Richard Lewis Richard Lewis FCCA The Association of Chartered Certified Accountants On behalf of RSM UK Tax and Accounting Limited Chartered Accountants 2 Humber Quays Wellington Street West Hull HU1 2BN Dated: ......................... 24/05/23 - 3 - ## **TRANSFORMING LIVES** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 MAY 2022** |||**Total**||**Total**| |---|---|---|---|---| |||**unrestricted**|
**unrestricted**|| |||**funds year**||**funds year**| |||**ended 30**||**ended 30**| |||**May 2022**||**May 2021**| ||**Notes**|**£**||**£**| |**Income from:**||||| |Donations and legacies|**2**|56,813||6,296| |**Expenditure on:**||||| |Charitable activities|**3**|83,549||64,103| |**Net movement in funds**||(26,736)||(57,807)| |Total funds brought forward||57,086||114,893| |**Total funds carried forward**||30,350||57,086| - 4 - **Charity number 1158447** ## **TRANSFORMING LIVES** ## **BALANCE SHEET** ## **AS AT 30 MAY 2022** |**Notes**
**Current assets**
Debtors
**6**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**7**
**Net current assets**
**Income funds**
Unrestricted funds as restated
**8**|**Total**
**unrestricted**
**funds at 30**
**May 2022**
**£**
**£**
2,650
33,880
36,530
(6,180)
30,350
30,350
30,350|**Total**
**unrestricted**
**funds at 30**
**May 2021**
**£**
**£**
900
60,146
61,046
(3,960)
57,086
57,086
57,086| |---|---|---| The financial statements on pages 4 to 9 were approved by the board of Trustees and authorised for issue on ......................... and are signed on its behalf by: 24/05/23 ## Mike Marshall .............................. Mr M Marshall **Trustee** - 5 - **TRANSFORMING LIVES** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MAY 2022** ## **1 Accounting policies** ## **Charity information** Transforming Lives is a Charitable Incorporated organisation, constituted under a constitution dated 30 May 2014 and is a registered charity in England and Wales, number 1158447. The principal office of the charity is Brick Bank, Brick Bank Lane, Allostock, Cheshire, WA16 9LY. The principal activity of the charity is included in the Trustees' Report on page 1. ## **Basis of preparation** The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and "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)" (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value. ## **Going concern** Having carried out a detailed review of the charity's financial performance and position in light of current economic conditions, the trustees are confident that the net asset and unrestricted fund position of £30,350 (2021 - £57,086) of the charity will enable it to continue in operational existence for at least 12 months beyond the date of approving the financial statements. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **Incoming resources** All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations, are recognised when the trust has been notified in writing of both the amount and settlement date. Investment income from bank interest is recognised when receivable. ## **Resources expended** 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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure is recognised on an accruals basis. Governance costs include those incurred in the governance of the charity and its assets and primarily associated with constitutional and statutory requirements. Grants payable are payments made to third parties in the furtherance of the charitable objects of the trust. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grant awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to the grant is outside of the control of the trust. ## **Charitable activities** The costs of charitable activities include grants made and governance costs. ## **Cash flow exemption** The charity has taken the exemption under section 7 of FRS 102, permitted by the Charities SORP, to not prepare a cash flow as the charity is considered to be a small entity. - 6 - ## **TRANSFORMING LIVES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MAY 2022** ## **1 Accounting policies (Continued)** ## **Taxation** As a registered charity, Transforming Lives is exempt from the payment of income and capital gains tax in respect of its charitable activities. ## **2 Donations and legacies** |Donations and gifts
**3**
**Charitable activities**
Charitable expenditure
Grants and other donations paid to institutions (note 5)
Grants and other donations paid to individuals
Governance costs|**2022**
**£**
56,813
**2022**
**£**
1,194
70,030
5,945
6,380
83,549|**2021**
**£**
6,296| |---|---|---| |||**2021**
**£**
-
59,303
**-**
4,800| |||64,103| - 7 - ## **TRANSFORMING LIVES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MAY 2022** |**4**
**Analysis of grants paid to institutions**
Goostrey Community
The Onside Foundation
Duchenne UK
Dogs For Good
East Cheshire Hospice
Marie Curie
**5**
**Governance costs**
Accountancy fees
Independent examination fee
Bank charges
Bank interest
Insurance costs
**6**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**7**
**Creditors: amounts falling due within one year**
Accruals|**2022**
**£**
7,648
50,000
11,218
214
350
600
70,030
**2022**
**£**
4,380
1,800
115
-
85
6,380
**2022**
**£**
2,650
**2022**
**£**
6,180|**2021**
**£**
-
25,000
34,789
114
-
300| |---|---|---| |||59,303| |||**2021**
**£**
4,600
-
90
110
-| |||4,800| |||**2021**
**£**
900| |||**2021**
**£**
3,960| - 8 - ## **TRANSFORMING LIVES** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MAY 2022** ## **8 Restricted funds** |**Restricted funds**|||||| |---|---|---|---|---|---| |||**Movement in funds**|||| ||**Balance at**|**Incoming**|**Resources**|**Net gains on**|**Balance at 30**| ||**31 May 2021**|**resources**|**expended**|**investments**|**May 2022**| ||**£**|**£**|**£**|**£**|**£**| |Unrestricted funds|57,086|56,813|(83,549)|-|30,350| ||57,086|56,813|(83,549)|-|30,350| |||**Movement in funds**|||| ||**Balance at**|**Incoming**|**Resources**|**Net gains on**|**Balance at 31**| ||**30 May 2020**|**resources**|**expended**|**investments**|**May 2021**| ||**£**|**£**|**£**|**£**|**£**| |Unrestricted funds|114,893|6,296|(64,103)|-|57,086| ||114,893|6,296|(64,103)|-|57,086| ## **9 Related party transactions** The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind. During the year trustee expenses of £nil (2021 - £nil) have been incurred. During the year the charity received donations totalling £50,000 (2021 - £nil) from Mr M Marshall, who is a trustee of the charity. The trustees believe there are no other related party transactions to disclose. - 9 -