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← Vision Of Love

2023-12-31-accounts

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A CHARITABLE INCORPORATED ORGANISATION

ANNUAL REPORT AND FINANCIAL

STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

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Students participated in this program: "The Menace of Drug Abuse and Its Impact on Education"

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CONTENTS

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Administrative details of the charity: 2
- Trustees and advisers
Trustees’ report 3-11
Reporting Accountant’s report 12
Statement of financial activities 13
Balance sheet 14
Notes of the financial statements 15-16
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ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

Board of Trustees

Mr Kanagasabapathy Vigneswaran

Mr Lavan Chelvakumar Nagaratnam Mr Velauthapillai Karunananthan Mr Satkunam Murugathas

Chair of the Trustee Board

Mr Lavan Chelvakumar Nagaratnam

Charity registered number

1170595

Registered Office

12 Colwood Gardens London SW19 2DT

Reporting Accountant

A J Accountancy 43 Anerley Road London SE192AS

Principal Bankers

Barclays Bank Plc

Solicitors

Bircham Dyson Bell, 50 Broadway, London SW1H 0BL

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’ – TRUSTEES REPORT YEAR ENDED 31 DECEMBER 2023

The Trustees present their end-of-period report, together with the financial statements of Vision of Love for the year ended 31 December 2023.

The Trustees confirm that the year-end report and financial statements of the Vision of Love charity comply with:

The above guidance is specifically applicable to charities preparing their accounts in accordance with the Financial Reporting Standard practiced within the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

1. OBJECTIVES AND ACTIVITIES

a) Policies and objectives

The Objectives of the Vision of Love charity are:

  1. The prevention or relief of poverty to the elderly population in Sri Lanka through the provision of goods, rations and services to individuals and families in need

  2. The prevention or relief of impaired physical, mental and financial health amongst the destitute within Sri Lanka

  3. The provision of optimal healthcare, education and workforce training to ensure individuals with the opportunity to generate a sustainable income, thus promoting self-sufficiency

b) Strategies for achieving objectives

Vision of Love fulfils its objectives by:

  1. Provision of funding for cataract operations, combined with essential medical pre-screening, transportation to the hospital and post-operative care.

  2. Supporting the elderly, notably those afflicted by the Civil war, through the monthly provision of staple foods including rice and dhal

  3. Provision of funding to support the delivery of Education in Human Values (EHV) programme for children and parents affected by war.

  4. Funding essential upkeep and support in local villages – primarily in the northern province of Sri Lanka – This includes but is not pertained to the delivery of stationery, textbooks and other essential educational items to school children.

  5. Regular provision of food and other nutritional support to children’s homes

  6. Provision of monthly financial sustenance to families with minimal support

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  1. Build donor funded houses in the remote villages to help with basic housing needs of poor families. These houses are being built for very deserving families, many of whom face daily struggles related to nutrition, financial support and education.

2. ACTIVITIES FOR ACHIEVING OBJECTIVES

This report reflects Vision of Love’s continued dedication to alleviating poverty, promoting education, and improving health and well-being in Sri Lanka and the UK. Despite limited resources, Vision of Love strives to meet the growing needs of those most affected by economic hardship and social challenges.

1. Continued Support to ever increasing demand for food supplies in Sri Lanka

As of 2024, Sri Lanka's poverty rate remains high, with approximately 25.9% of the population living below the national poverty line. This marks a continued increase in poverty since the 2022 economic crisis. The situation is particularly severe in war-affected areas, despite ongoing support from the diaspora. The country continues to grapple with challenges such as high inflation, widespread food insecurity, and limited employment opportunities, all of which have contributed to the rise in poverty. Forecasts suggest that poverty levels will stay above 22% for the foreseeable future (World Bank)(ONLANKA).

Despite some signs of economic stabilization, such as moderate growth projections of 2.2% for 2024 and improvements in inflation and remittances, households continue to face significant financial pressures, leading to increased debt and reduced spending on essential needs like health and education (World Bank).

Fighting Hunger – Dry rations to poor, elderly families

Vision of Love works closely with local government and partner organisations to identify and assist the most vulnerable individuals, primarily in the remote and underprivileged villages of Mullaitivu. In a model similar to food banks in the UK, the focus remains on providing essential food supplies to individuals and families struggling with extreme poverty.

Each month, about 250 families across 14 villages in the Vanni region receive weekly food packages. The amount of rice and dal distributed is tailored to the size of the household, with small families receiving 7 kg of rice and 1 kg of dal, while larger families are allocated 16 kg of rice and 2 kg of dal. Beneficiaries

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typically include orphaned children and elderly grandparents caring for grandchildren. A monthly allocation of £10 per family of three helps to meet their basic nutritional needs.

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Vision of Love served 1,100 lunch packs to school children across 6 schools. These children come from underprivileged families and are based in Gampaha.

2. Education and Training programme

Vision of Love remains steadfast in its commitment to the education and training of disadvantaged children and youth in Sri Lanka, particularly in the Mullaitivu District. Due to inadequate educational facilities, many young people in the region struggle to acquire the skills necessary for employment, leading to a loss of opportunities. Vision of Love seeks to address these challenges by supporting programs that provide basic education and vocational training to help young individuals improve their future prospects.

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Vision of Love donated numerous books to three schools in the Upcountry of Sri Lanka. The books were graciously received by deserving children.

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3. Improving Vision and Health - Cataract operations and medical pre-screening

Vision of Love extends its support through the operation of medical pre-screening camps, and it additionally provides funding for these crucial cataract surgeries. Moreover, Vision of Love covers the expenses associated with transportation and accommodation, ensuring that individuals can access the best available treatment options conveniently.

Cataract operations have been conducted at various locations, with a notable example being in Trincomalee. In this area, there exists a substantial backlog of approximately 2,000 patients awaiting cataract surgeries, but the lack of sufficient funds, medical equipment, and cataract implants has been a significant obstacle. Vision of Love has stepped in to bridge this gap by furnishing the necessary resources and offering improved implant options for these surgeries.

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To date, Vision of Love has funded the surgical costs for around 6,000 patients, yet continued support is urgently required to assist the local community effectively. There is a long waiting list of patients who require this service, so your continued support and generosity is appreciated.

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Vision of Love supplied the cassettes required to perform cataract surgeries. This is in addition to the normal lenses and other equipment we provide.

One cassette can be used for 20-25 surgeries. The cassettes are usually provided by the Government but due to lack of funds, the government has not been providing them.

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These are some images from cataract surgeries we completed in Trincomalee

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Improving Vision and Health – Supporting diabetic patients.

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Vision of Love supported in procuring vials of Bevacizumab (Avastin) which was used for diabetic patients. These vials were provided to the District General Hospital in Trincomalee.

4. Adapting for the future – Livelihood Projects

Vision of Love is willing to support livelihood development projects aimed at promoting self-sufficiency within Sri Lanka’s villages. By helping small businesses and entrepreneurship, Vision of Love empowers individuals to sustain themselves and their families, fostering long-term economic stability. There were no projects carried out during the period of this report

5. Help Children reach their full academic potential

Vision of Love’s Education in Human Values (EHV) program plays an integral role in promoting the wellbeing and academic success of children in disadvantaged communities. Monthly workshops supported by Vision of Love provide a platform for teaching key subjects such as human values while addressing critical social issues like drug and alcohol abuse.

Through this initiative, Vision of Love provides financial assistance to help families cover tuition fees, benefiting around 50 families.

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The EHV classes for January were held on the 06th and 7th at Thanneeroottu and Puthukudiyiruppu RC Vidyalayam respectively. 288 students participated in this program. The topic of this month's program was "The Menace of Drug Abuse and Its Impact on Education"

6. Basic Housing – Construction of homes for the destitute

Recognising the importance of stable housing, Vision of Love has undertaken the construction of homes for impoverished families in remote Sri Lankan villages. Many families in these regions continue to struggle with the aftermath of the civil war and lack proper nutrition, financial stability, and educational opportunities. By providing safe, secure homes, Vision of Love aims to alleviate one of the most significant challenges these families face.

The ninth house in Thumpalai was built for a mother and her four children. This housing initiative provides them with a stable environment to improve their living conditions, ensuring the children have access to education and a better quality of life.

7. Faith in Action Merton, London Homelessness project

In addition to its efforts in Sri Lanka, Vision of Love also supports charitable initiatives in the United Kingdom. Working in partnership with Faith in Action, Vision of Love regularly donates fresh vegetables to the Merton-based homeless drop-in centre. These donations provide essential nutrition to approximately 65 homeless individuals at each session, demonstrating Vision of Love’s commitment to supporting vulnerable communities both in Sri Lanka and abroad.

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Main activities undertaken to further the charity's purposes for the public benefit

The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 and have taken due regard to the Charity Commission's general guidance on public benefit.

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STRATEGIC REPORT

Achievements and performance

1. Review of activities

The business and activities of the Vision of Love are guided and organised through the Board of trustees. Vision of Love has no paid staff in either in the UK or overseas. All operations are carried out by the volunteers.

2. Financial review

a. Going concern

After undertaking an appropriate assessment, the trustees have expectations that Vision of Love has adequate resources to continue in operational existence for the foreseeable future.

Our current reserve levels are strong, and this combined with good financial management and discipline, means that our medium-term outlook is secure. We do not currently anticipate that the overall financial position of the charity will be adversely affected, or its financial solvency threatened. The Trustees believe there are no visible uncertainties in respect to the charity’s financial position which may severely curtail its work and/or threaten its ability to operate as a going concern. The Trustees therefore continue to adopt the going concern basis in preparing the financial statements.

b. Financial risk management objectives and policies

The trustees review matters concerning accounting, financial reporting, and internal controls, including the risk factors. They also review the management accounts and the annual report and financial statements before being submitted to the reporting Accountant.

c. Principal risks and uncertainties

The trustees recognise the importance of identifying and managing the risks of the charity. A risk management framework, consisting of a risk and control register, which would identify and prioritise the Charity's key risks, will be maintained in future. The register will include a program of control measures and actions to manage material risks. It will be subject to periodic assessment and updated by the trustees regularly.

d. Principal funding

Currently the principal funding sources for the charity have been donations from individuals and various organisations.

3. Structure, governance and management

a) Constitution

Vision of Love was registered as a charitable incorporated organisation on 06 December 2016.

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c) Organisational structure and decision making

The trustees are responsible for the management of the affairs of the Charity and they commit to conducting themselves in accordance with the highest ethical standards when carrying out their responsibilities. The Trustee Board has therefore adopted a Code of Conduct, which provides ethical standards and criteria to which all its members are required to adhere in the performance of their responsibilities to the Trustee Board.

4. Plans for future periods

In a short space of time, Vision of Love has managed to help communities in many different locations, through its various projects. We plan to do several more projects in the future, with some already underway.

5. 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).

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

The trustees are responsible for keeping 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 and regulations made thereunder. They are also responsible for safeguarding the assets of the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charities’ website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

6. Reporting Accountant

Our Accountants, A J Accountancy have indicated their willingness to continue in office and this expression of interest is currently being considered.

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VISIOIIOFLLWI 7. Our Donors We extend our deepest gratTrtude for your unwavering support and generoslty. Your selfless contribution5 have had a profound impact on the lives of countle55 individuals in need, both in Sri Lanka and the UK. Thanks to your kindness, we have been able to provide essential resources-food, housing, education, and healthcare-to those facing daily hardship5. Your belief in our mission and your willingness to stand by us have been instrumental in bringing about positive change and offering hope to vulnerable communities. Your donations are more than just financial contributions; they are lifelines that bring hope and transformation to those in need. Thank you for being a part of our journey in making the world a better place, one act of love at a tiFne. Your continued sUPPOrt serves as a beacon of Ilght for the people we seNe, and we are deeply grateful for your commitment. Wtth heartfelt appreciation, Vision of Love Approve(I by the Trustees on 27 October 2024 and signed by Mr Lav Chelvakumar p4agaTratnam Chairman PAGE11

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REPORTING ACCOUNTANT’S REPORT

Independent examiner’s report to the trustees of Vision of Love, Charitable Incorporated Organisation (‘the CIO’)

For the year ended 31 December 2023

I report to the charity trustees on my examination of the accounts for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity trustees of the Vision of Love, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Vision of Loves’ accounts carried out under section 145 of the Act. In carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. Accounting records were not kept as required by section 130 of the Act; or

  2. the accounts do not accord with those records."

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Signed:

Name: C Kailaya-Vasan FFA, FMAAT, ACIPP Address: 43 Anerley Road, London, SE19 2AS Date: 26/10/2024

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For the period ended 31 December 2023

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STATEMENT OF FINANCIAL ACTIVITIES

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Balance Sheet A CHARITABLE INCORPORATED ORGANISATION: 1170595 En land and Wales As at 31 December 2023 2023 2022 Flxed Assets Tar@Ue Flxed Assets Currem Assets rseas ReserveAtcount 35.157 Cash at 8ank and In Hand 89.C67 hledt c￿￿eTht Assets 7L621 124,224 Net Assets 71,621 124,224 Funds Restricted Funds UnreSt￿cted Fund5 12.815 111.409 7otal Funds 7L621 124,224 Th financial statements were approved by theTTUStees on 26th Ortober 2024 and signed on their behalf, bv: Mr Kanagasabapathy Vigneswaran, Trustee Mr Velauthapillai Karunananthan , Trustee Mr Satkunam Murugathas. Trustee PAfiE 14

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Notes to the Financial Statements

For the period ended 31 December 2023

1. Accounting policies

1.1 The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Vision of Love meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Company status

The Vision of Love is a Charitable Incorporated Organisation (CIO). The members of the charity are the Trustees named on page 1. In the event of the Vision of Love being wound up, the liability in respect of the guarantee is limited to £1 per member of the Vision of Love.

1.3 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Vision of Love and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for specific purposes. The aim and use of each designated fund are set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Vision of Love for specific purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements.

1.4 Income

All income is recognised once the Vision of Love has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the Vision of Love has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Vision of Love of the item is probable and that economic benefit can be measured reliably.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Vision of Love which is the amount the Vision of Love would have been willing to pay to

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obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.

1.6 Taxation

The Vision of Love is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Vision of Love is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

1.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount repaid net of any trade discounts due.

1.8 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 acquisition or opening of the deposit or similar account.

1.9 Creditors and provisions

Creditors and provisions are recognised where the Vision of Love has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.10 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the average rate of the transaction. Exchange gains and losses are recognised in the Statement of Financial Activities.

2. Governance Costs

There were NO Governance Costs incurred both in the UK and in other countries whereas Vision of Love operates with 100% voluntary support and the entire donation is used for the Charitable purpose, except bank charges are paid for transferring funds. The trustees contribute towards the costs of the meeting expenditure.

3. Related Party Transactions

There were no related party transactions to report. The trustees continue to donate funds to the Charity as an unrestricted donation.

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