CHARITY REGISTRATION NUM8ER: 1163138 SOURCE 4 LIFE Financial Statements For The Year Ending 1ST June 2023 Accountants and Tax Advisors 2 Norman Road, Thornton Heath, Surrey, CR7 7ED SOURCE 4LIFE Flnancial Ststsm8nts Year ended 1ST JUNE 2023 Page Trustees, annual report Statement of financial activities Statement of financial position statement of cash flows 10 Notes to the financial statements 11 SOURCE 4LIFE Trustees. Annual Report (contlnued) Year ended 1 June 2023 Trustees. Annual Report The Trustees present their Report and the Financial Statements of the Charity for the year ended 1 June 2023. ststus The organisalion is a UK Registered Charily Ino. 1163138 with the Charity Commission for England and Wales). Board of Trustees Shamim Arshid Sheikh S Hussain Management Commlttee Mrs Shamim Arshid Mr Sheikh Saeed Hussain Operatlon address 13 Homefield Gardens Mitcham, Surrey,CR7 3BZ Audltors Accountants 2 Norman Road Thornton Heath CR7 7ED Bankers Natwest Bank PLC SOURCE 4LIFE Trustees. Annual Report fcon*nu8dJ Year ended 1 June 2023 The Trustees have pleasure in presenting their Report and the Financial Statements of the Charity for the year ended 1 st June 2023. The Financial Statements have been prepared in accordance with the accounting policies sel out in Note 3 to the Accounts and Comply with the Charity's Statement of Recommended Practice applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in England and Wales. PRINCIPAL OBJECTIVES AND ACTIVITIES The principal activities of the Charity were in accordance with the slated objectives of the Charity, and are as follows.. We focus on making the maximum positive effort for our community. Our members and volunteers provide the momentum that helps us affect change. Using data driven models. we provide solutions Ihal make a long-lasting difference in life needy people of our community. VOLUNTEERS The Trustees wish to record their appreciation on behalf of the Charity and communty 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 rem+Jnerated in the year. TRUSTEES APPOINTMENT New Trustees are appointed with the approval of existing Trustees. Basic guidance is provided to the new Trustees on their responsibilities as defined in the Conslitulion. SOURCE 4LIFE Trustees, Annual Report fc¢)niinued) Year ended 1 June 2023 ACHIEVEMENTS AND PERFORMANCE Current and Future Activities 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-end is considered to be salisfaclory. 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 Pro￿S$ of ongoing improvement. All the trustees are trained and have all the required statutory 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 In¢idenl 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 PAR￿ TRANSACTIONS During the year there were no related party Iransaclions. RESERVES POLICY The Trustees aim lo maintsin free reserves in unreslricled hjnds 8t a level which equates to approximately three months of unreslricled charitable expenditure. SOURCE 4LIFE Truste•s' Annual Report (eontinuedj Year ended 1 June 2023 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 Praclicel. The law applicable to Charities in England and Wales wuires the Charity Trustees to prepare Financial Statements for each year which give a true and fair view of the slate of affairs of the Charity and of the incoming resources and application of resources, of the Charity for that period. In preparing these Financial Statements, the Trustees are required to." select suitable accounting policies and then apply them ¢onsistently,' observe the methods and principles in the applicable Charities SORP2015 IFRS1021,' make judgments and a¢counting estimates that are reasonable and Pr￿dent., slate whether applicable UK Accounb'ng Standards have been followed. subject lo any material departures di￿lOSed and explained in the Financial Statements". prepare the Financial Stslements on the going concern basis unless it is inappropriate lo presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Charity and enable them lo ensure that the Financial Statements comply with the Charities Act 2011. the applicable Charities IAccounls and Reports) Regulations, and the provisions of the Trust Deed. They are also Tesponsible 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 behalf of the Board of Trustees by.. 3? MrSSHuss Chairrnan Mrs Shamim Arshid Trustee SOURCE 4LIFE Statement of Financial Activities Year ended 1 June 2023 2023 Restricted funds Total funds Total fvnds 2022 Unrestricted funds Note Income and endowments Charitable activities 00 000 000 00 Total Income 00 00 00 uv Expenditure Expenditure on charitable activities Total expenditure 00 00 00 uv Net income 00 00 Fair value movements NIL NIL NIL Net movement in lunds NIL NIL NIL NIL Reconclllatlon of lunds Total funds brought forward Total funds carrlod forward 100 100 100 100 100 100 100 100 The statement of financial activities includes all gains and losses recognis8d in the year. All income and expenditure derive from continuing aclivilies. SOURCE 4LIFE Statement of Financial Position 1 June 2023 2023 2022 Note Fixed assets Tangible fixed a55els Investments 16 17 NIL NIL NIL NIL NIL NIL Current assets Cash at bank and in hand 100 100 100 100 Creditors: amounts falling due within one ytrar Net current assets 20 NIL NIL 100 100 Total assets less current Ilablllti¢s 100 100 Creditors: amounts falllng due after more than one year 21 NIL NIL Net assets 100 100 Funds of the charlty Restricted funds Unrestricted funds NIL NIL 100 100 Total charity funds 22 11)0 100 These financial statements were approved by the board of trustees and aulhorised for issue on 24th May 2019, and are signed on behalf of the board by.. Mrs amim Arshid Mrs Ghairman SOURCE 4LIFE Statement of Cash Flows Year ended 1 June 2023 2023 2022 Cash inflow- from operatlng actlvltles Income from Operating Activities 00 00 Cash Ourflow- Cash expensed for charitsble purpose NIL NIL Net increaselldècrea$el in ¢ash and cash gquivalents Cash and cash equivalents at beginning ofyèar Cash and cash equlvalents at end of year 00 00 10- SOURCE 4LIFE Notes to the Financial Statements Year ended 1 June 2023 Gengral infomiation The charity is a public benefit enlily and a registered charity in England and Wales and is unincorporated. The address of the principal office is 13 Homefield Gardens, Mitcham, Surrey, CR4 3BZ. ststgment of complianee These f￿nanCIal statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {Charities SORP (FRS 102)) and the Charitses Act 2011. Accounting poli¢ie$ Basis of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial stalernents are prepared in sterling, which is the functional Curren￿ of the entty. 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 funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected lo reslriclions on their expenditure declared by the donor or through the terms of an appeal. and fall into one of sub-classes.. restricted income funds or endowment funds. Incoming resources All incoming resources are included in the stslemenl of financial activities when enlitlemenl has passed lo the charity., 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 policies are applied to particular 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 t￿ measured reliably. legacy income is recognised when receipt is prt)bable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the eslimaled resale value. Donated facilities and services are recognised in the 11 SOURCE 4LIFE Notes to the Financial Statements (continued) Year ended 1ST JUNE 2023 Accounting poli¢ies fcontlnued) accounts when received if the value can be reliabty 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 funds 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 ils charitable aim5 for the benefit of ils beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitsble activities. other expenditure includes all expenditure that is neither related lo raising fvnds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs attributable lo a single activity are allocated directly lo that activity Shared costs are apportioned between the a¢livilies they contribute lo on a reasonable, justifiable and consistent basis. Charitable activities Unrestricted Funds Restricted Total Funds Funds 2023 Income 00 00 12- SOURCE 4LIFE Notes to the Financial Statements fconltnu8dJ Year ended 1 JUNE 2023 12. Expenditure on charitable activities by activity type Charity Total funds 2023 Total fund Costs 2022 Direct charitable expenditure 00 00 00 00 00 00 13. Net income Net income is staled after chargingllcredilingl.. 2023 2022 Depreciation of tangible fixgd assets NIL 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2023 2022 Wages and salaries Social security costs NIL NIL NIL NIL Administration functions are carried out by ur¢paid volunteers. No employee was employed during the period. 13- SOURCE 4 LIFE Notes to the Financial Statements (tontlnuedj Year ended 1ST JUNE 2023 15. Trustee remuneration and expenses During the year the Charity was under the control of Trustees and None of the trustees were remunerated or paid any expenses SOURCE 4LIFE Notes to the Financial Statements (c¢￿￿nuedJ Year ended 1 JUNE 2023 22. Analysis of charltable funds Unrestrlcted funds Al 1 June 20 22 At Gains and 1 June 2023 losses Income Expenditure General funds 100 00 00 11)0 23. Related parties During the year the Charity was under the control of Trustees None of the Iruslee members were remunerated or paid any expenses. -14-