Reglstered number: 08834979 Charity number: 1163026 WE ARE FAMILY FOUNDATION UK (A company limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 WE ARE FAMILY FOUNDATION UK (A company limited by guarantee) CONTENTS Page Reference and admlnistrakn.ve details of the company. its trustees and advisers Trustees. report Trustees. responsibilities statement Independerht examlner's report Statement of flnancial activities alance sheet Notes to the financial statements 9- 12 WE ARE FAMILY FOUNDATION UK (A company Ilmlted by guarantee) REFERENCE AND ADMINISTRATIVE D￿AILs OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees N G Rodgers M A Barondess NLHunt I Cervellera Micheli D Feigelson O R Saddlngton V S Shah (resigned 3 June 2025} Company reglstered numbèr 08834979 Charity reglstered number 1163026 Reglstered office Elsley Court, 20 - 22 Great ntchfield Stfeet. London, WIW 86E Accountants SRLV LLP, Elsley Court, 20 - 22 Great fitchfleld Street, London, WLW 8BE Page 1 WE ARE FAMILY FOUNDATION UK (A company limlted by guarantee) TRUSTeES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The frustees present their annual report together with the financial statements of the We Are Family Foundatiorh UK for the year from I lanuary 2024 to 31 December 2024. The Trustees confirm that the annual report and financral statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective I january 20 191. Slnce the company qualifies as small under section 382 of the Companies Act 2006, the strateglc report requlred of medium and large companies under the Companies Act 2006 {Strategic Report and Directors, Report) Regulations 2013 has been omitted. The company has chènged its narne from We Are Famity Foundation to We Are Family Foundation UK on 2 August 2024 wlth(>ut change of nature of business or attivities. Objectives and activities a. Pollcles and objertives The company's objectives are specifirdlly restricted to promoting equality, diversity and peace for the publi benefit throLbgh the vision of a 9lobal family. b. Activities for achlevlng objectives The company's objective Jre achieved by.. lal Creating and supporting programmes that insprre and educate the next generation about peace, respect, understanding and cultural diversity- Ibl Promoting activities to foster understanding between people from diverse backgrounds. (c} Cultivating a sentirnent in favour of respett, understanding and cultural diversity through the vision of global family. {dl Working to eliminate discrimination on grounds of race, gender, disability. sexual orlentation or rellgion. Achlevements and performance a. Revlew of activities As at 3 1 December 2L124, there were unrestricted reseryes of £38,300 (2023 - £32,643). The unreslrlcted reserves are available for use at the discretion of the Trustees in Furtherance of the general objective5 of the company and which have not been designated for other purposes. Financial review a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectatlon that the company has adequate resoLJrces to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be foLtnd in the accountirhg policies. Page 2 WE ARE FAMILY FOUNDATION UK (A company limlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 b. Reserves policy It is the policy of the charity that unrestricted funds of £5.000 which have not been designated for a specific use should be mainrained at a level equivalent to between three and six months. expenditure. The Trustees constder that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to way5 in which additional funds may be rdlsed. This level of reserves has been maintained throughout the period. structureo gov¢rnance and management a. MÈthod$ of appointment or election ot Trustees The management of the company is the responsibility of the Trustees who ère elerted and co-opted urhder the terms of the Memorandum of Association. b. Organlsational 5trurture and declslon-makirbg policies The Tnjstees a￿ appolnted in accordance with the articles of assocation and fflake all rnajor decisions of the charity. None of the Trustees have any beneficial interest in the company. All of the Trustee5 are rne￿be￿ of the company and guarantee tQ Cgntribute £5 in the event of a winding up. The Trustees have assessed the major risks to whi¢h the company is exposed. and are satisfsed that systems are in place to mltlgate exposure to the major risks. Funds held as custodian No funds are held as a custodian. Approved by order of the members of the board of Trustees and signed on their behalf by.. unt Tmstee Date.. 0 7/iOIIOZ Page 3 WE ARE FAMILY FOUNDATION UK (A company Ilmlted by guarantee) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees (who are also the directors of the company for the purposes of company lawl are responsible for preparing the Trustees. report and the financial statement5 in accordance with applicable law and Unlted Kingdom Accounting Standards (United KTrngdom Generally Accepted Accounting Practice}. Company law requires the Trustees to prepare financial statements for each ffinancial year from. Under company law the Trvstees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its irbcoming resourtrs and application of resourccs, induding its intome and expenditure. for that period. In preparing these financial statements, the Trustee5 are required to= select suitable accounting policies and then apply them consistently; obserye the merhods and principles of the Charities SORP IFRS 1021,. mèke Judgements and accountlng estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures discbsed and explained in the financial statements; prepa￿ the financlal statements on the going concern basis unless It is Inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping adequate accountlng records that are sufficient to show and explain the company's transactions and disc105e with reasonable accuracy at any time the financial position of the company enable them to ensure that the flnancial statements comply with the Companie5 Act 2006. They are also responsible for safeguarding the assets OF the company and hence for taking reasonable steps for the preventiCTrn and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. NLHunt Trustee Date.. () 711012015 Page 4 WE ARE FAMILY FOUNDATION UK (A company Ilmlted by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independent Examiner's report to the Trustees of We Are Famlly Foundation ('the charlty'} report to the charity Trustees on my examlnatlon of the accounts of the company for the year ended 31 December 2024. Responsibilities and basis of report As the Trustee5 of the company land its dirertors for the purposes of company lawl you are responslble for the preparation of the accounts in accordance with the requirements of the Companles Act 2006 {'the 2006 Act.). Having 5at15fied ffly5elf that the accounts of the company are not requrred to be audited under Part 16 of the 2006 Act and are eligible For independent examination, I report in respect of my examinatlcTrn of the company's accounts carried out under section 145 of the Charities Art 2011 ('the 2011 Act,). In carrylng out my examlnation I have followed the Directions given by the Charfity Commlssion under section 14515)(bl 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.. accounting records were not kept in respect of the company as required by section 386 of the 2006 the accounts do not accord with those records. or the accounts do rbQt comply v4ith the accounting ￿qUIrements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair. view which is not 3 matter consldered as part c)f an independent examination- or 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 Financral Reporting Standarij 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. Page 5 WE ARE FAMILY FOUNDATION UK (A company Ilmlted by guarantee) INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Use of our report This report is made solely to the company's TrLFStees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters l arTb required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or a55ume respgn5ibility to anyone tsther than the company and the company's Trustee5 as a body, for my worf( or for this report. ggJAf Ri¢hard Gilbert for and on behalf of SRLV Audit Limited Chartered Accountants Elsley Court 20-22 Great Titchfield Street Londo WIW 88E 13 oa-X£f 7oL Page 6 WE ARE FAMILY FOUNDATZON UK (A company limited by guarantee) STATEMENT OF FINANCIAL AcrivrtIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Ufftrestricted funds 2024 Total funds 2024 Total fund5 2023 Note Income from: Donations and legacies Other tradlng activities 75.000 143 75,000 143 122 Total income 75,143 75,143 122 Expendi￿re on: Charitable activltles 63,215 6,271 63,215 6,271 7,778 3,431 Support costs Total expendlture 69,486 69,486 11,209 Net movtmerbt in funds 5,657 5,657 111,0871 ReconclllatSon of funds: Total ftjnds brought fOn￿ard Net movement in funds 32,643 5,657 32,643 5,657 43,730 {1 I,Q87} Total lunds carried forward 38,300 38,300 32,643 The statement of financial artivities includes all gains and losses recognised in the year. The notes on pages 9 to 12 form part of these financial statements. Page 7 WE ARE FAMILY FOLINDATION UK (A company limited by guarantee) REGISTERED NUMBER: 08834979 BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2Q23 Note Current assets Cash at bank arhd in hand 77,264 68,61L 77,264 68,611 Creditors: amounts falling due within one year (38,964) 135,9681 Net current assets 38,300 32,643 Total assets less current liabllltles 38,300 32,643 Total net assets 38,300 32,643 Charity funds Unrestricted fvnds 38,300 32,643 Total lunds 38,300 32,643 The company was entitled to exemption from audit under sertion 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year In question in accordan￿ with section 476 of Cotnpanie5 Act 2006. The Trustees acknowledge their responsibllities for complying with the reqU1￿MentS of the Act with respect to accounting records and preparation of flnancial statements. The f1nanclal statements have been prepared in accordance wlth the provisyon5 applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees arhd signed on their behalf by: NLHunt Trustee Dète.. O'II1012ozr The r)otes on pages 9 to 12 fom) part of these financial statements. Page 8 WE ARE FAMILY FOUNDATION UK (A company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General informatlon We Are Family Foundaion UK is a private company, limited by guarantee without share capital, registered in England and Wales, registration number 08834979. The registered office address is E151ey Court, 20-22 Great Titchfield Street, London, WIW 8BE. The principal objective of the charity is to make grants to indivrduals and organisations. The corrhpany has changed its name from We Are Family Foundation to We Are Family Foundatlgn UK on 2 August 2024 without chartge of nature of business or activoties. Account5ng pollcles 2.1 Basls of preparation of financlal statements The financial statements have been prepared in accordan￿ with the Charities SORP IFRS 1021 Accounting and Reporting by Charities: Statement of Recotnmended 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 I lanuary 2019}, the Financial Reportlllg Standard applicable in the UK and Republic of Ireland IFRS 102} and the Companies Act 2006. We Are Famlly Foundation UK meets the definition of a public benefit entity under FRS 102. Assets and Itabilities are initially recognised at historical cost or transaction valtje unless otherwise stated in the relevant accounting pollcy. 2.2 Company status The company Is a company limited by guarantee. The members of the company are the Trustees named tsn page l. In the event of the company being wound up, the liabillty In respect of the gvarantee is limited to E5 per member of the company. 2.3 Income All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measure(J reliably. 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economi¢ benefit to a third party, it is probable that a transfer of economic benefits will be required in settletnent and the amotjnt of the obligatlon cèn be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dlrect costs atbd shared costs, including support costs involved in unijertaking each artivity. Direct Costs attributable to a Single actlvity are allocated directly to that activity. Shared costs which contribute to more tharh one activity and support costs which are not attributable to a single activity are apportlDned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of tlme spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on roising funds indudes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all Fundraising activities events and non-charitable tradir)g. Expenditure on charitable activities is incurred on directty undertaking the activities which further the company's objectives, as well as any assoctated support costs. Page 9 WE ARE FAMILY FOUNDATION UK {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policles (contlnued) 2.5 Interest recélvable Interest on funds held on deposlt is induded when receivable and the amount can be measured reliably by the company,. this is normally upon notification of the interest paid or payable by the institution with whom the ftjnds are deposited. 2.6 Cash at bank and in hand Cash at bank and In hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acqLJiSition or opening of the deposit or slmllar account. 2.7 Liabillt5es and provisiorbS Liabilities ore recognised when the￿ is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required In settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it wlll pay to settle the debt or the amount it has received as aijvanced payments for the goods or services it rnust provide. 2.8 Financial instwments The company has financlal assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial Instruments are initially re¢ogni5ed at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequentfy measured at amortised cost using the effective interest method. 2.9 Fund accounting General funds are unrestricted funds which are available for use at the dlscretion of the Trustees in furtherance of the general objertives of the company and which have not been designated for other purposes. Income from donatlons Unrestricted funds 2024 Total funds 2024 TcTrtal fund5 2023 Donations 75,000 75,000 Page 10 WE ARE FAMILY FOUNDATION UK (A company limite