CHARITY REGISTRATION NUMBER: 1163138 SOURCE 4 LIFE Financial Statements For The Year Ending 1ST June 2024 Accountants and Tax Advisors 2 Norman Road, Thornton Heath, Surrey, CR7 7ED SOURCE 4LIFE Financial Ststements Year ended 1ST JUNE 2024 Page Trustees, annual report statement of financial activities ststement of financial position Statement of cash flows Notes to the financial statements 10 11 SOURCE 4LIFE Trustee8' Annual Report l¢onllnu Year ended 1 June 2024 Trustees. Annual Report The Trustees present their Report and the Financial Statements of the Charity for the year ended 1 June 2024. ststus The organisation is a UK Registered Charity (no. 1163138 wrth the Charity Commission for England and Wales). Board of Trustees Shamim Arshid Sheikh S Hussain Management Committee Mrs Shamim Arshid Mr Sheikh Saeed Hussain Operatlon address 13 Homefield Gardens Mitcham, Surrey,CR7 3BZ Auditors Accountants 2 Norman Road Thornlon Heath CR7 7ED Bank8rs Natwest Bank PLC SOURCE 4LIFE Trustees. Annual Report (¢onlirtued) Year ended 1 June 2024 The Trustees have pleasure in presenting their Report and the Financial Ststements of the Charity for the year ended 1st June 2024. The Financial Statements have been prepared in accordan￿ with the accounting policies set out in Note 3 to the Accounts and comply with the Charity's Statement ol Recommended Practi￿ applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in England and Wales. PRINCIPAL OBJECTIVES AND ACTIVITIES The principal actNlties of the Charity were in accordan￿ with the stated objectlves 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 that make a long-lasting difference in life needy people of our community. VOLUNTEERS The Trustees wish to record their appre¢ialion on behalf of the Charity and community for the volunteers who assist in the smooth running of the Charity and are crilical in helping to keep the running Costs down. No volunteers were remunerated 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 responsibilitie5 as defined in the Constitution. SOURCE 4LIFE Trustees. Annual Report (contlnued) Year ended 1 June 2024 ACHIEVEMENTS AND PERFORMANCE Current and Future Activities The Charity has continued with the activ'rties as in the previous yeafs. 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 considefed 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 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 lo 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 lo maintain free reserves in vnrestricled funds at a level which equates to approximately three months of unrestricted charitable expenditure. SOURCE 4LIFE Trustees. Annual Report Icontlnu¢d) Year ended 1 June 2024 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 Iunited Kingdom Generally Accepted Accounting Praclicel. 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 these 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 SORP2015 IFRS1021.' make judgments and accounting estimates that are reasonable and prudentr. state whether applicable UK AcGounting Stsndards have been followed, subject to any materi81 departures disclosed and explained in the Financial Stalemenl5'. prepare the Financial Statements on the going concern basis unless it is inappropriate lo presume that the Charty will continue in business. The Trustees are responsible ft)r keeping adequate accounting records 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 to ensure that the Financial Statements comply with the Charities Act 2011, the applicable Charities IAccount5 and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the Charity and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees, Annual Report was approved on 24th May 2019 and signed on behalf of the Board of Trustees by". Mrs Shamim Arshid Trustee MrSSH Chairm8n SOURCE 4LIFE Statsment of Financial Activlties Year ended 1 June 2024 2024 Restricted funds Total funds Totsl funds 2023 Unrestricted funds Income and endowments 000 000 00 Charitable activities 00 uu Totsl Income 00 00 00 Expenditure Expenditure on charitable adivilies Total expenditure 00 00 00 00 vu 00 Net Incomfr 00 NIL Fair value movements Nel movement in funds NIL NIL NIL NIL NIL NIL Reconcillation of funds Totsl funds brought forward Total fund$ carrfgd forward 100 100 100 100 100 100 100 100 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. SOURCE 4LIFE ststement of Financial Position 1 June 2024 2024 2023 Note Fixed assets Tangible fixed assets Investments NIL NIL 16 17 NIL NIL NIL NIL Current assets Cash at bank and in hand 100 100 100 100 CreditOV8: amounts falllng due wlthin ong year Net current assets Total assets le89 current liabllities Credltors: amounts lalllng due after more than one year Net •S8ets 20 NIL NIL 100 100 100 100 21 NIL NIL 100 100 Funds ofthe charity Restricted funds Unreslricled funds Totsl charlty funds 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.. NIL NIL 100 100 22 100 100 hamim Arshid Mr S S Hussain Chairman SOURCE 4LIFE statsment of Cash Flows Year ended 1 June 2024 2024 2023 Cash inflow- from operatlng actlvltios Income from Operating Activities 00 00 Cash Outtlow- Cash expensed for charitable purpose NIL NIL Net increaselldecrease} In cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 00 00 10- SOURCE 4LIFE Notes to the Financial Ststements Year ended 1 June 2024 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The addTess of the principal office is 13 Homefield Gardens. Milcham, sUr￿y. CR4 3BZ. Statement of compllan¢e These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republi¢ of Ireland,, the 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 1021 (Charities SORP IFRS 10211 and the Gharilies Act 2011. Accounting pollcies 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 statements are prepared in sterling. which is the ftjnclional currency of the entty. Golng concgrn There are no material uncertainties about the charity's ability to continue. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds a￿ unreslricled funds earmarked by the tfustees for particular future project or commitment. Reslricled funds are subjected to restrictions on their expenditure declared by the donor or through the temis of an appeal, and fall into one of Iwo sub-classes.. restricted income funds or endowment funds. Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed lo the charity.. il is probable that the economic benefits associated with the transaction will flow lo 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 its amount can be measured reliably. legacy income is recognised when receipt is probable and enlillement 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 estimated resale value. Oonated facilrties and services are recognised in the 11 SOURCE 4LIFE Notes to the Financial Statements Icont1*7ued) Year ended 1ST JUNE 2024 Ac¢ountlng policle$ (contlnued) accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. Resources expended Expenditure is re¢ognised 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 il relates". expenditure on raising funds includes the costs of 811 fundraising aclivilies, events. non- charitable trading activities, and the sale of donated goods. expenditure on charitable acb'vities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. olhef expenditure includes all expenditure that is neither related to 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 lo that activity. Shared costs are apportioned be￿een the activities they contribute to on a reasonable, justifiable and consistent basis. Charitable aclivities Unrestricted Funds Restricted Total Funds Funds 2024 Income 00 00 12- SOURCE 4LIFE Notes to the Financial Statements (wntlnued) Year ended 1 JUNE 2024 12. Expenditure on chaTltable activities by activlty type Charity Total funds 2024 Total fund Costs 2023 Direcl charitable expenditUTe 00 00 00 00 00 00 13. Ngt income Net income is stated after chargingllcreditingl.. 2024 2023 IMIL Depreciation of tangible fixed assets NIL 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Social security costs NIL NIL NIL NIL Administration functions are carried out by unpaid volunteers. No employee was employed during the period. 13 SOURCE 4 LIFE Notes to the Financial Ststements (ContInu￿) Year ended 1ST JUNE 2024 15. Trustee Temuneration •nd expenses During the year the Charity was under the control of Trustees and None of the tTUStees were remunerated or paid any expenses SOURCE 4LIFE Notss to the Financial Statements (¢ontinued) Year ended 1 JUNE 2024 22. Anatysis of charitable funds Unrestrlctgd funds At 1 June 2023 At Gains and 1 June 2024 losses Income Expenditure General funds 100 00 00 100 23. Related partie8 During the year the Charity was under the control of Trustees None of the trustee members were remunerated or paid any expenses. -14-