OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Transforming Lives

2024-05-30-accounts

Charity Registration No. 1158447

TRANSFORMING LIVES

REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MAY 2024

TRANSFORMING LIVES

LEGAL AND ADMINISTRATIVE INFORMATION

Charity number 1158447
Trustees C F Marshall
M E Marshall
P A Marshall
K J Sutton
Registered office Brick Bank
Brick Bank Lane
Allostock
Cheshire
WA16 9LY
Accountants RSM UK Tax and Accounting Limited
Chartered Accountants
4th Floor
100 Avebury Boulevard
Milton Keynes
MK9 1FH
Bankers Santander
Bridle Road
Bootle
Liverpool
L30 4GB
Independent examiner RSM UK Tax and Accounting Limited
Chartered Accountants
Davidson House
Forbury Square
Reading
Berkshire
RG1 3EU

TRANSFORMING LIVES

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 MAY 2024

The trustees present their report and financial statements for the year ended 30 May 2024.

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.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

Objectives and activities

The charity's object is the relief of poverty by providing grants and services to people in need. 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 and organise an annual cycling event called the Cheshire Dash. The charity receives donations from the public which are subsequently passed on to various charity's supported by the Dash 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.

Public benefit

The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission.

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 income of £32,535 (2023: net expenditure of £20,296). The charity has net funds of £42,589 (2023 - £10,054) 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 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 Pennies Foundation 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 £42,589 (2023 - £10,054).

TRANSFORMING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 MAY 2024

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 Pennies Foundation and The Joshua Tree.

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 4 September 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 10 to the financial statements.

Statement of trustees' responsibilities

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

TRANSFORMING LIVES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 MAY 2024

The trustees who served during the year and up to the date of this report were:

C F Marshall

M E Marshall P A Marshall K J Sutton

Approved by the trustees and signed on their behalf by:

Mike marshall

.............................. M E Marshall Trustee Dated: ......................... 27/03/25

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 2024, which are set out on pages 5 to 10.

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

  2. 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.

Kerry Gallagher

Kerry Gallagher FCA DchA The Institute of Chartered Accountants in England and Wales On behalf of RSM UK Tax and Accounting Limited Chartered Accountants Davidson House Forbury Square Reading Berkshire RG1 3EU

Dated: ......................... 27/03/25

TRANSFORMING LIVES

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 MAY 2024

Notes
Income from:
Donations and legacies
3
Expenditure on:
Charitable activities
4
Net movement in funds
Total funds brought forward
Total funds carried forward
9		 Unrestricted
2024
2023
£
£
133,211
68,459
100,676
88,755
32,535
(20,296)
10,054
30,350
42,589
10,054

Charity number 1158447

TRANSFORMING LIVES

BALANCE SHEET

AS AT 30 MAY 2024

Notes
£
Current assets
Debtors
7
-
Cash at bank and in hand
55,789
55,789
Creditors: amounts falling due within
one year
8
(13,200)
Net current assets
Income funds
Unrestricted funds
9		 2024
£
42,589
42,589
42,589		 £
2,650
15,484
18,134
(8,080)		 2023
£
10,054
10,054
10,054

27/03/25 The financial statements on pages 5 to 10 were approved by the board of Trustees on ......................... and are signed on its behalf by:

Mike marshall

..............................

M E Marshall Trustee

TRANSFORMING LIVES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MAY 2024

1 Accounting policies

Charity information

Transforming Lives is a Charitable Incorporated Organisation, constituted under a constitution dated 4 September 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 £42,589 (2023 - £10,054) 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.

Income

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.

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 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.

TRANSFORMING LIVES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MAY 2024

1 Accounting policies (Continued)

Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

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 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Donations and gifts
Gift aid on donations		 2024
£
100,945
32,266
133,211		 2023
£
68,459
-
68,459

TRANSFORMING LIVES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MAY 2024

4 Charitable activities

Charitable expenditure
Grants and other donations paid to institutions (note 5)
Grants and other donations paid to individuals
Governance costs (note 6)		 2024
£
7,279
84,812
1,550
7,035
100,676		 2023
£
7,035
70,209
5,441
6,070
88,755

5 Analysis of grants paid to institutions

Horticap
The Joshua Tree
The Pennies Foundation
African Community and Conservation
The Bursary Foundation CIO
Greater Manchester Womens Prison
Christies Cancer Treatment Support
The Onside Foundation
Dogs For Good
Manchester City Legends
Boxer Dog Rescue
Together for Short Lives
Cancer Research
Kenyan Runners
Autism Dogs
Manchester City Community
Other
6
Governance costs
Accountancy fees
Independent examination fee
Bank charges		 2024
£
200
10,130
25,000
9,808
11,569
10,000
3,000
-
105
-
-
10,000
-
5,000
-
-
-
84,812
2024
£
4,820
2,100
115
7,035		 2023
£
-
-
-
-
-
-
-
8,000
114
550
1,000
18,460
250
2,000
17,995
21,700
140
70,209
2023
£
4,180
1,800
90
6,070

TRANSFORMING LIVES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 MAY 2024

7 Debtors
2024 2023
Amounts falling due within one year: £ £
Other debtors - 2,650
8 Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 3,000 -
Accruals 10,200 8,080
13,200 8,080
9 Movement in funds
Movement in funds
Balance at **Income Expenditure ** Balance at 30
31 May 2023 May 2024
£ £ £ £
Unrestricted funds 10,054 133,211 (100,676) 42,589
10,054 133,211 (100,676) 42,589
Movement in funds
Balance at **Income Expenditure ** Balance at 30
31 May 2022 May 2023
£ £ £ £
Unrestricted funds 30,350 68,459 (88,755) 10,054
30,350 68,459 (88,755) 10,054

10 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 (2023 - £nil) have been incurred.

During the year, the charity received donations totalling £79,743 (2023 - £50,000) from trustees of the charity.

As at the reporting date, £nil (2023 - £2,650) was owed to the charity by a connected company. The company is connected by virtue of common directors.

The Trustees, who are considered to be the key management personnel, received no remuneration or expenses for their services (2023 - £nil). There were no employees during the year or the prior year.