CHARITY REGISTRATION NUMBER: 1163138 SOURCE 4 LIFE Financial Statements For The Year Ending 1ST June 2022 Accountants and Tax Advisors 2 Norman Road, Thornton Heath, Surrey. CR7 7ED SOURCE 4LIFE Financial Statements Year ended 1ST JUNE 2022 Page Trustees, annual report Statement of financial activities Statement of financial position Statement of cash flows 10 Notes to the financial statements SOURCE 4LIFE Trustees. Annual Report Icontlnued) Year ended l June 2022 Trustees, Annual Report The Trustees present their Report and the Financial Statements of the Charity for the year ended 1 June 2022. Status The organisation is a UK Reglstered Charily Ino. 1163138 with the Charity Commission for England and Wales). Board of Trustees Shamim Arshid Sheikh S Hussain Management Committee Mrs Shamim Arshid Mr Sheikh Saeed Hussain Oporation address 13 Homefield Gardens Mitcham, Surrey,CR7 3BZ Auditors Accountants 2 Norman Road Thornton Heath CR7 7ED Bankers Natwest Bank PLC SOURCE 4LIFE Trustees. Annual Report (contlnuodj Year ended 1 June 2022 The Trustees have pleasure in presenting their Report and the Financial Slatemenls of the Charity for the year ended 1st June 2022. The Financial Statements have been prepared in accordance with the accounting policies set out in Note 3 to the Accounts and comply with the Charity's Slaternent of Recommended Practice applicable lo charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in England and Wales. PRINCIPAL OBJECTIVES AND ACTIVITIES The principal activities of the Charty were in accordance with the slated objects'ves of the Charity, and are as follows.. We focus on making the maximum positive effort for our community. OLTrr members and volunteers provide the momentum that helps us affect change. Using data driven models, we provide solutions that make a long-lasting difference in life needy people of our community. VOLUNTEERS The Tfustees wish to record their appreciation on behalf of the Charity and community for the volunteers who assist in the smooth running of the Charity and are critical in helping to keep the running costs down. No volunteers were remunerated in the year. TRUSTEES APPOINTMENT New Trustee5 are appointed with the approval of existing Trustees. Basic guidance is provided lo the new Trustees on their ￿SPOnSIbl11t1eS as defined in the Constitution. SOURCE 4LIFE Trustees, Annual Report Icontlnued) Year ended 1 June 2022 ACHIEVEMENTS ANO PERFORMANCE Current and Future Aetlvltle8 The Charity has continued with the activities as in the previous years. FINANCIAL REVIEWS The results for the year are shown on pages below,. The progress during the year and the position at the year*nd is considered lo be satisfactory. RISK REVIEW The Trustees have conducted their own review of the major risks lo which the Charity is exposed and steps have been initiated to minimise the identified risks. All functions of the Charity are subjected to periodic review, resulting in a process of ongoing improvement. All the trustees are trained and have all the required slatulory and regulatory clearances required. SERIOUS INCIDENTS AND EXCEPTIONS The Trustees are pleased to note that there were no incidents which gave rise to the need for the Trustees to lodge a Serious Incident Report with the Charity Commission. Furthermore, there were no Exceptions recorded and which gave rise to the need for the Trustees to record on the Charity's Exceptions, Register. RELATED PARTY TRANSACTIONS During the year there were no related party Iransaclions. RESERVES POLICY The Trustees aim to maintain free reserves in unreslricled funds at a level which equates lo approximately three months of unreslricled charitsble expenditure. SOURCE 4LIFE Trustees. Annual Report (contlnued) Year ended 1 June 2022 TRUSTEES, RESPONSIBILITIES STATEMENT The Trustees are responsible for preparing the Trustees, Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable lo Charib'es in England and Wales requires the Charity Trustees to prepare Financial Statements for each year which give 8 true and fair view of the slate of affairs of the Charity and of the incoming resources and application of ￿SOurces, of the Charity for that period. In preparing these Financial Slatemenls, the Trustees are required to.. select suitsble accounting policies and then apply them consistently., observe the methods and pfinciples in the applicable Charities SORP2015 IFRS1021', make judgments and accounting eslimales that are reasonable and prudent.. slate whether applicable UK Accounting Stsndards have been followed, subject to any material departures disclosed and explained in the Financial Statements., prepare the Financial Slalements on the going con￿rn basis unless il is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting ￿e0rdS that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them lo ensure that the Financial Statements Comply with the Charities Act 2011. the applioable Charities (Accounts and Reports) Regulations, 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. The Trustees, Annual Report was approved on 241h May 2019 and signed on ￿half of the Board of Trustees by.. Mrs hamim Arshid Trustee MrSSHus Chairrnan SOURCE 4LIFE Statement of Financial Activttigs Year ended 1 June 2022 2022 Restricted funds Total funds Total funds 2021 Unrestricted funds Income ond endowments Charitable activities 00 000 000 00 Total Income 00 00 00 vu Expendlture Expenditure on charitable activities Total expendlture 00 00 00 00 uv Net income 00 00 Fair value movements NIL NIL NIL Net movement in funds NIL NIL NIL NIL Reconeiliatlon of funds Total funds brought foMard Total lunds carriad forward 100 100 100 100 100 100 100 100 The slalemenl of financial activities includes all gains and105se5 recognised in the year. All income and expenditure derive from conts'nuing activities. SOURCE 4LIFE ststement of Financial Position 1 June 2022 2022 2021 Note Fixed assets Tangible fixed assets Investments 16 17 NIL NIL NIL NIL NIL NIL CUr￿nt asset8 Cash at bank and in hand 100 100 100 100 Creditors: amounts falling due within one year Net current assels 20 NIL NIL 100 100 Total assets less cuNent liabllities 100 100 Creditors: amounts falling duo after more than one year 21 NIL NIL Net assets 100 100 Funds of thg charity Reslricled funds Unrestricted funds NIL NIL 100 100 Total charity fund$ 22 100 100 These financial statements were approved by the board of Iruslees and aulhorised for issue on 24th May 2019. and are signed on behalf of the board by.. hamim Arshid Mr S S Hussain Chairman SOURCE 4LIFE Statement of Cash Flows Year ended 1 June 2022 2022 2021 Cash Inflow- from operatlng actlvlties Income from Operating Activitie$ 00 00 Cash Oufflow- Cash expensed for charitable purpose 00 Net increasel(decrea8el In ca8h and ca8h equlvalents Cash and cash equlvalents at beglnnlng of year Cash and cash equivalents at end of year NIL NIL 00 00 10- SOURCE 4LIFE Notes to the Financial Statements Year ended 1 June 2022 General infonnation The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is 13 Homefield Gardens, Mitcham, Surrey, CR4 3BZ. Statement of complian¢6 These financi81 statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordanee with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policie8 Bas18 of preparation The financial stslementg have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investrnent properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unreslricled fvnds eamarked by the trustees for particular future project or commitment. Reslrieled funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. reslriGled income funds or endowment funds. Incoming resources All incoming resources are included in the stslemenl of financial activities when entitlement has passed lo the Gharily,. il is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific pO1￿cleS are applied to parts'cular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift. receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured al the fair value of the goods unless this is irnpraclical lo measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the 11 SOURCE 4LIFE Notes to the Financial Statements {conllnu6 Year ended 1ST JUNE 2022 A¢¢ounting policigs (eontinu8dJ accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising fund5 includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its benefrciaries, Including those support ¢osts and costs relating lo the governan¢e of the charity apportioned lo charitsble activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on charitable aclivilies. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned belween the activities they contribute to on a reasonable, justifiable and consistent basis. Charitable activities Unrestricted Funds Restricted Total Funds Funds 2022 Income 00 12- SOURCE 4LIFE Notes to the Financial Statements (Go*JllnuedJ Year ended 1 JUNE 2022 12. Expgnditure on charitablfr actlvltlfrs by actlvlty typo Charity Total funds 2022 Total fund Costs 2021 Direct charitable expenditure 00 00 00 00 00 00 13. Net income Nel income is slated after chargingllcreditingl". 2022 2021 Depreciation of tsngible fixed assets NIL 14. Staff cos1$ The total staff cos15 and employee benefits for the reporting period are analysed as follows.. 2022 2021 Wages and salaries Social security costs NIL NIL NIL NIL Adminislralion functions are carried out by unpaid volunteers. No employee was employed dunng the period. -13- SOURCE 4 LIFE Notes to the Financial Statements Icontinued) Year ended 1ST JUNE 2022 1S. Trustee remunefatlon and expenses During the year the Charity was under the control of Tfuslees and None of the trustees we remunerated or paid any expenses SOURCE 4LIFE Notes to the Financial Statements le¢)ntlnuedJ Year ended 1 JUNE 2022 22. Analysis of charltable funds Unrestrictgd funds At 1 June 20 22 At Gainsand 1 June 2022 losses Income Expenditure General funds 100 00 00 100 23. Related parties During the year the Charity was under the control of Trustees None of the trustee members were remunerated or paid any expenses. 14-