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2020-12-31-accounts

Trustees' Annual Report for the period

Period start date Period start date Period end date
**From ** 01 01 2019r To 31
12		 2020

Section A Reference and administration details

Charity name
Other names charity is known by
Registered charity number (if any)
Charity's principal address
LIFE CHANCES
LIFE CHANCES

LC
1172742

Resource for London
356 Holloway Road
Postcode N7 6PA

Names of the charity trustees who manage the charity

1
2
3
4
5
6		 Trustee name Office (if any) Dates acted if not
for whole year		 Name of person (or body)
entitled to appoint trustee (if
any)
Mr Theodros
Abraham		 Reconnect, 356
Holloway Road,
London N7 6PA		 Since December
2015		 Board of trustees
Ms Mahlet Asrat
Treasurer		 Flat 5 Broad oak
House
London
NW6 5PA		 Since December
2015		 Board of trustees
Mr Assefa Negash 36 Princess Alice
House
Dalgamo Way
London
W10 5EN		 Since December
2015		 Board of trustees

Names of the trustees for the charity, if any, (for example, any custodian trustees)

Name Dates acted if not for whole year
N/A

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Names and addresses of advisers (Optional information)

N/A

Type of adviser
Name
Address		 Type of adviser
Name
Address		 Type of adviser
Name
Address		 Type of adviser
Name
Address		 Type of adviser
Name
Address		 Type of adviser
Name
Address
N/A
Name of chief executive or names of senior staff members (Optional information)
Belay Gessesse
Section B Structure, governance and management
Description of the charity’s trusts
Type of governing document
(eg. trust deed, constitution)
CIO Constitution Foundation Model
How the charity is constituted
(eg. trust, association, company)
Trust.
Trustee selection methods
(eg. appointed by, elected by)
The trustees were appointed by the founders of the charity and the
Steering Group. In the future members of new trustees will be
selected and approved by the existing trustees.
Additional governance issues (Optional information)
Youmay chooseto include
additional information, where
relevant, about:
policies and procedures
adopted for the induction and
training of trustees;
the charity’s organisational
structure and any wider
network with which the charity
works;
relationship with any related
parties;
Trustees’ consideration of
major risks and the system
and procedures to manage
them.
Essential trustee's guidelines of the Charity Commission were
distributed to the charity trustees for their induction and adherence
to in the process of the discharge of their responsibilities.
Organisational structure of Life Chances is guided by the CIO
Foundation Model of the Charity Commission. The charity works with
relevant statutory and voluntary organisations.
The organisation has built up partnership working with relevant
statutory and non-statutory organisations including but not limited to
Islington Council,
This includes but not limited to Refugee Council, the Resource
Centre, Evelyn Oldfield Unit, NHS Camden and Islington etc.
The trustees adhere to Charity Commission’s guidelines (CC26) to
manage risks to our charity. The trustees make periodic review of
risks associated with governance, operation, finance, external
factors and compliance with the law. The trustees therefore have
systems and procedures inplace to mitigate and manage risks.
Essential trustee's guidelines of the Charity Commission were
distributed to the charity trustees for their induction and adherence
to in the process of the discharge of their responsibilities.
Organisational structure of Life Chances is guided by the CIO
Foundation Model of the Charity Commission. The charity works with
relevant statutory and voluntary organisations.
The organisation has built up partnership working with relevant
statutory and non-statutory organisations including but not limited to
Islington Council,
This includes but not limited to Refugee Council, the Resource
Centre, Evelyn Oldfield Unit, NHS Camden and Islington etc.
The trustees adhere to Charity Commission’s guidelines (CC26) to
manage risks to our charity. The trustees make periodic review of
risks associated with governance, operation, finance, external
factors and compliance with the law. The trustees therefore have
systems and procedures inplace to mitigate and manage risks.

Section C Objectives and activities

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The relief of the elderly but not exclusively those of the Ethiopian refugee and migrant community, who are in need by reason of illhealth, disability, financial hardship or other disadvantage, by the provision of support, information, advice and any activities or services designed to relieve those needs.

Summary of the objects of the charity set out in its governing document

To act as a resource for young people living in London by providing advice, information, educational support and leisure time activities in the interest of social welfare for people living on benefits who need support by reasons of youth or disability.

The provision of relief of poverty in Ethiopia by providing or assisting in the provision of education, training and income generation, health care designed to enable individuals to generate a sustainable income and self-sufficiency. It should be noted that our planned activity in Ethiopia is still at a planning stage, hence we have not yet been operational in the country during this reporting period 2020.

The main activities undertaken by the Life Chances charity during the reporting year remain consistent with the requirements of the Public Benefits guidance of the Charity Commission- having only charitable purposes which are the public benefit as defined in the Charities Act 2011. Hence, the trustees have had regard to the guidance issued by the commission in regulating and governing the activities of Life Chances. The activities undertaken during the reporting period were therefore consistent with the established objects of the organisation as highlighted below:

Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)

- Planninq Activities Based on our established objects and availabilities of resources we planned our activities by involving our trustees, volunteers and beneficiaries. Time bound tasks were assigned to our volunteers and staff to be undertaken. The director took the responsibility to organise, plan and supervise and manage the day to day performance of the organisation.

Outreach Activities

By mobilising committed volunteers we have provided outreach services for vulnerable members of our service users who are mostly homebound because of age and ill health. Our activities included home visits, befriending services, reconnecting isolated members with their community and faith centres, advocacy work, language support helping them communicate with service providers including NHS, health and social services, housing, etc. The Covid19 pandemic and the lock down of public services during the reporting year necessitated the need more than ever to support vulnerable members of our community including provision of academic support for our disadvantaged children through communications on the zoom. Thanks to the BBC Children in Need and the City Bridge Trust for enabling us accomplish this important task.

Advice/ Advocacy Services- We have provided advocacy support for our vulnerable service users enabling them access services they were entitled to. We provided language support for our services users at GPs, hospitals, courts. Social Services etc. We guided, referred and signposted our

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clients to external organisations for a more specialised support services.

Partnership Workinq

We have established productive partnerships with the NHS England (Islington and Camden) AFLAH Somali Community, Refugee Council, Eritrean Community, Evelyn Oldfield Unit Islington Council and Voluntary Action Islington working in partnership on projects that are common concerns for each of our respective organisations. Our joint activities included training of volunteer champions to take more active part in the campaign for the prevention of diabetes at community level. The initiative has helped us to minimise costs to our individual groups but maximised benefits by sharing common resources and facilities

Additional details of objectives and activities (Optional information)

You may choose to include further statements, where relevant, about:

Contributions of our volunteers to the work of Life Chances charity remain invaluable to the performance and achievements of the organisation during the reporting year.

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Summary of the main Our outreach programme helped reduce social isolation for our achievements of the charity vulnerable and home bound service users by mobilising volunteers during the year and traditional resources. Our service users were enabled to access information in their own languages for better understanding of the health and social care system in the UK. The inter-generational dialogue between the elders and the youth better enhanced mutual support and communication between the two groups. Our disadvantaged children were provided with academic and behavioural support on the zoom during the Covid19 pandemic year 2020. We provided capacity building for our volunteers which have created a skilled and knowledgeable volunteer team making them more helpful for our vulnerable service users. We have built up partnership working with the health and social services including Diabetic UK, NHS England and the various voluntary and community organisations promoting preventative health information for our service users. The above highlighted achievements would not have been possible without the financial support from our grant providers including BBC Children in Need, The City Bridge Trust, Cripplegate Foundation and the National lottery Community Fund.

Section E Financial review Section E Financial review
Brief statement of the
charity’s policy on reserves
Details of any funds materially
in deficit
Further financial review details
Youmay chooseto include
additional information, where
relevant about:

the charity’s principal
sources of funds (including
any fundraising);

how expenditure has
supported the key objectives
of the charity;

investment policy and
objectives including any
All our funds during the reporting year were based on restricted
funds only.
NONE
(Optional information)
The charity’s principal sources of resources includes grant making
bodies: trusts, foundations and local authority. We are developing
skills to expand the sources of our funds including fundraising and
public donations.
About 90% of our fund was spent on the specific projects direct
while about 10% was spent on coordination costs.

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ethical investment policy – N/A

Section F Other optional information

Section G Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s)

Full name(s) Theodros Abraham Position (eg Secretary, Chair, Chairman etc) Date

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LIFE CHANCES CHARITY

Resource for London 356 Holloway Road London N7 6PA Tel 0207 697 4095 Email: belay@lifechance.org Website: www.lifechance.org

LIFE CHANCES (LC)

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

REGISTERED CHARITY NUMBER 1172742

1

LIFE CHANCES (LC) CHARITY NUMBER 1172742 LEGAL AND ADMINISTRATIVE DETAILS AS AT 31 DECEMBER 2020

Registered as a charity with the Charity Commission for England and Wales on 25 April 2017. Charity No 1172742

Status:

Registered Address: Resource for London 356 Holloway Road London N7 6PA Executive Director: Belay Gessesse Members of Trustees Trustee Chairman Mr Theodros Abraham Treasurer Mrs Mahlet Asrat Member Mr Assefa Negash Bankers: HSBC UK 1 Aldermans Hill Palmers Green London N13 4YE Accountants: S. CHOWDURY & CO ACCOUNTANTS 123 Amberley Road Enfield Middlesex EN1 2RA

2

LIFE CHANCES CHARITY CHARITY NUMBER 1172742 AS AT 31 DECEMBER 2020

Report of LIFE CHANCES Board of Trustees

For the year ended 31 December 2020

The board of trustees of Life Chances charity submit herewith the financial statements of the organisation for the year ended 31 December 2020 The statements appear in the format required by the Charity Commission Statement of Recommended Practice (the SORP).

Mission Statement

Life Chances was registered with the Charity Commission for England and Wales on 25 April 2017.

The object for which Life Chances is established are for the relief of the elderly, in particular but not exclusively those of the Ethiopian refugee and migrant community living in London , who are in need by reason of ill-health, disability, financial hardship or other disadvantage, by the provision of support, information, advice and any activities or services designed to relieve those needs and to help young people from the same community by developing their skills, capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals. When time and circumstances allow Life Chances strives to provide assistance for disadvantaged elders and children in Ethiopia.

IN GRATITUDE

From the establishment of Life Chances in 2017 to date members of the Board of Trustees of Life Chances have been making invaluable contributions to the governance of the charity upholding their commitment to the causes for which the organisation was set up to address. They deserve appreciation and gratitude for their contributions to the governance of the charity. The additional voluntary contribution of our staff and volunteers has made positive difference to the works of the charity. We are grateful to the invaluable contributions of our staff, trustees and volunteers , especially under the current climate of the Covid19 pandemic affecting our nation..

We wish to express our deepest gratitude to those organisations who have supported us financially, to enable the achievement of the objects of Life Chances projects, notably, the BBC Children in Need, the City Bridge Trust London Community Response fund, The National Lottery COVID-19 Community Fund and the Cripplegate Foundation. Our achievements presented in this report would not have been possible without their invaluable support.

………………………………..

Theodros Abraham Chairman Life Chances

Date: …………………………

3

IFE CHANCES CHARITY NUMBER 1172742

BOARD OF TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The Board presents its report for the year ended 31 December 2020

The Board’s Responsibilities

The Board is required to prepare financial statements for each financial year which give

a true and fair view of the state of the affairs of the charity and of the surplus or deficit of the „organisation. In preparing those financial statements, the Board is required to:

..+

The Board is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable it to ensure that the financial statements comply with the requirements of the Charity Commission for England and Wales. It is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Board of Trustees

Mahlet Asrat Treasurer

Assefa Negash Member

Belay Gessesse Executive Director

Approved by the Board of Directors On the of October 2021 and signed on its behalf by

……………… Theodros Abraham Chairman Date

4

INDEPENDENT EXAMINER’s REPORT ON THE ACCOUNTS OF LIFE CHANCES

INCOME AND EXPENDITURE ACCOUNT

Report to the LIFE CHANCES trustees/directors of

Registered charity number1
1
7
2
7
4
2
On accounts for the year
ended
3
1
1
2
2
0
2
0
Set out on pages
I report to the charity trustees on my examination of the accounts of the
charity for the year ended 31/12/2020
Responsibilities and
basis of report
As the trustees of the Charity you are responsible for the preparation of
the accounts in accordance with the requirements of the Charity
Commission for England and wales (“the 2006 Act”).
Having satisfied myself that the accounts of the Charity
required to be audited for this year under Part 16 of the 2006 Act
and are eligible for independent examination, I report in respect of
my examination of your charity‟s accounts as carried out under
section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying
out my examination, I have followed the Directions given by the
Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent
examiner’s
statement
I have completed my examination. I confirm that no material matters
have come to my attention which gives me cause to believe that:
• accounting records were not kept in accordance with
section 386 of the Companies Act 2006; or
• the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements
under section 396 of the Companies Act 2006
other than any requirement that the accounts give a „true and
fair‟ view which is not a matter considered as part of an independent
examination; or
•the accounts have not been prepared in accordance with the Charities
SORP (FRS102).
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.		 Registered charity number1
1
7
2
7
4
2
On accounts for the year
ended
3
1
1
2
2
0
2
0
Set out on pages
I report to the charity trustees on my examination of the accounts of the
charity for the year ended 31/12/2020
Responsibilities and
basis of report
As the trustees of the Charity you are responsible for the preparation of
the accounts in accordance with the requirements of the Charity
Commission for England and wales (“the 2006 Act”).
Having satisfied myself that the accounts of the Charity
required to be audited for this year under Part 16 of the 2006 Act
and are eligible for independent examination, I report in respect of
my examination of your charity‟s accounts as carried out under
section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying
out my examination, I have followed the Directions given by the
Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent
examiner’s
statement
I have completed my examination. I confirm that no material matters
have come to my attention which gives me cause to believe that:
• accounting records were not kept in accordance with
section 386 of the Companies Act 2006; or
• the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements
under section 396 of the Companies Act 2006
other than any requirement that the accounts give a „true and
fair‟ view which is not a matter considered as part of an independent
examination; or
•the accounts have not been prepared in accordance with the Charities
SORP (FRS102).
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.		 Registered charity number1
1
7
2
7
4
2
On accounts for the year
ended
3
1
1
2
2
0
2
0
Set out on pages
I report to the charity trustees on my examination of the accounts of the
charity for the year ended 31/12/2020
Responsibilities and
basis of report
As the trustees of the Charity you are responsible for the preparation of
the accounts in accordance with the requirements of the Charity
Commission for England and wales (“the 2006 Act”).
Having satisfied myself that the accounts of the Charity
required to be audited for this year under Part 16 of the 2006 Act
and are eligible for independent examination, I report in respect of
my examination of your charity‟s accounts as carried out under
section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying
out my examination, I have followed the Directions given by the
Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent
examiner’s
statement
I have completed my examination. I confirm that no material matters
have come to my attention which gives me cause to believe that:
• accounting records were not kept in accordance with
section 386 of the Companies Act 2006; or
• the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements
under section 396 of the Companies Act 2006
other than any requirement that the accounts give a „true and
fair‟ view which is not a matter considered as part of an independent
examination; or
•the accounts have not been prepared in accordance with the Charities
SORP (FRS102).
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.		 Registered charity number1
1
7
2
7
4
2
On accounts for the year
ended
3
1
1
2
2
0
2
0
Set out on pages
I report to the charity trustees on my examination of the accounts of the
charity for the year ended 31/12/2020
Responsibilities and
basis of report
As the trustees of the Charity you are responsible for the preparation of
the accounts in accordance with the requirements of the Charity
Commission for England and wales (“the 2006 Act”).
Having satisfied myself that the accounts of the Charity
required to be audited for this year under Part 16 of the 2006 Act
and are eligible for independent examination, I report in respect of
my examination of your charity‟s accounts as carried out under
section 145 of the Charities Act 2011 (“the 2011 Act”). In carrying
out my examination, I have followed the Directions given by the
Charity Commission (under section 145(5)(b) of the 2011 Act.
Independent
examiner’s
statement
I have completed my examination. I confirm that no material matters
have come to my attention which gives me cause to believe that:
• accounting records were not kept in accordance with
section 386 of the Companies Act 2006; or
• the accounts do not accord with such records; or
• the accounts do not comply with relevant accounting requirements
under section 396 of the Companies Act 2006
other than any requirement that the accounts give a „true and
fair‟ view which is not a matter considered as part of an independent
examination; or
•the accounts have not been prepared in accordance with the Charities
SORP (FRS102).
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.
Signed Date
Name
Relevant professional
qualification or body (if
any)
**Address **

5

LIFECHANCES (LC) CHARITY NUMBER 1172742

INCOME AND EXPENDITURE ACCOUNT INCOME AND EXPENDITURE ACCOUNT INCOME AND EXPENDITURE ACCOUNT INCOME AND EXPENDITURE ACCOUNT
For The year ended 31 December 2020
Notes Restricted Unrestricted Total Total funds
income funds funds for
for
funds Year Year
ended 31 ended 31
December
December
2020 2019
£ £ £ £
Incoming Resources
Grants 2 42,902 0 42,902 10,000
Bank Interest 3 0 0 0 0
Other 3 0 0 0 0
Total Incoming 42,902 42,902 10,000
Resources
Resources expended
Direct charitable 5 17,541 0 17,541 5,899
expenditure
Indirect management and 4 0 2,924 1,041
administration expenditure 2,924
Summary of Total 6 20,465 0 20,465 6,940
Resources Expended
Net incoming resources 22,437 0 22,437 3,060
Transfer of Funds 0 (327) (327) 0
(Depreciation)
Balance b/f 31 December 3,060 0 3,060 0
2019
FUND BALANCE 7 **25,497 ** (327) 25,170 3,060

6

LIFE CHANCES

CHARITY NUMBER 1172742

BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2020

Notes
£		 At
31 December
2020
£		 £ At
31 December
2019
£
Fixed Assets
TangibleAssets 10 982
**Current Assets: **
Cash at Bank 24,200 3,000
Cash in Hand 88 60
24,288 3060
Debtors 11 0
**Creditors: **
(AmountsFalling
Due Within One Year) -100
NET CURRENT
ASSETS		 24,188
TOTAL NET ASSETS 25,170
FUNDS OF THE
CHARITY
Restricted 13 24,188 3,060
Unrestricted: 14 0
Designated 14 982
General 14
FUND BALANCE 15 25,170 3,060

The trustees acknowledge their responsibilities for complying with the requirements of the Charity Commission with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to charities.

APPROVED BY THE BOARD OF TRUSTEES ON THE OF OCTOBER 2020

AND SIGNED ON THEIR BEHALF BY

…………………………..… Theodros Abraham, Chairman

DATE OF AUTHENTICATION AND SIGNATURE

…………………………….

The notes on pages 9 to 16 form part of these accounts.

7

LIFE CHANCES CHARITY NUMBER 1172742

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2020

1. Accounting Policies

1.1 Charity Status

Life Chances is a Charity (CIO) . The liability of each member is limited to £1 per member. It is registered in England and Wales.

1.2 Basis of Preparation of Financial Statements

These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

The accounts have been prepared in accordance with:

The charity constitutes a public benefit entity as defined by FRS 102 for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Accounting and Reporting by Charities: Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014 (The FRS 102 Charities SORP), the Charities Act 2011.

1.3 Going Concern

The trustees have assessed whether the use of the ongoing concern is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. In particular the trustees have considered the charity‟s forecasts and projections and have taken account of pressures on income. After making assessments of potentials and constraints, the trustees have concluded that there is a reasonable expectation that the charity will be able to continue in operational existence for the foreseeable future effectively addressing good causes. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

1.4 Fund Accounting

Project Equipment 25% Computers 25 %

8

LIFE CHANCES (LC) CHARITY NUMBER 1172742

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2020

2. Grants/Donations

Restricted
funds
Unrestricted
funds
Total
Year end
31 December
2020
Total
Year end
31
December
2019		 Restricted
funds
Unrestricted
funds
Total
Year end
31 December
2020
Total
Year end
31
December
2019
London Project:
BBC Children in Need
National Lottery Covid-19
Community Fund
City Bridge Trust LCRF
Cripplegate Foundation/
S/Total
Total Grant
3. Other Income
**Total **		 £
10,000
9,952

18,100
4,850
42,902		 £
£
£
0
10,000
10,000
0
9,952
0
0
0
0
18,100
4,850
0
0
0
42,902
10,000
42,902 42,902
10,000
0
**Total ** 0

9

LIFE CHANCES CHARITY NUMBER 1172742

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2020

4 . INDIRECT MANAGEMENT AND ADMINISTRATION EXPENDITURE

Stationery
Professional & Audit Fees
Proportion of Venue Rent
TOTAL INDIRECT		 Total
Year ended
31 December
2020
Total
Year ended
31 December
2019
£
£
56
10
0
42
108
0

5. DIRECT CHARITABLE EXPENDITURE

£ £ £ £
StaffCosts 2,924 Other Costs
Educational Resources 180
Refreshments 314
Stationery 510
26 lap tops for learning on the zoom 12500
OfficePC+Screen+Printer 909
Venuehire 378
Communication/zoom fee 196
Technicalsupport/IT 1680
Auditor’sfee 90
Volunteers subsistence 211
Touch screen webcam for teaching 465
Othercosts 0
Bankcharge 0
Total 17,433
2,924
**TOTAL DIRECT ** **20,357 **

TOTAL EXPENDITURE: 20,357 + 108 = £20,465

10

LIFE CHANCES CHARITY NUMBER 1172742

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2020

6. SUMMARY OF TOTAL RESOURCES EXPENDED

Direct charitable expenditure
Management and administration		 Staff
costs
Other
costs
Total
Year
ended
31 Dece.
2020
Total
Year
ended
31
December
2019
£
£
£
£
17541
0
17541
5602
2924
0
2924
1338		 Staff
costs
Other
costs
Total
Year
ended
31 Dece.
2020
Total
Year
ended
31
December
2019
£
£
£
£
17541
0
17541
5602
2924
0
2924
1338
20465 20465
6940

7. Fund Balance

Since its establishment in 2017,Life Chances maintained a positive fund balance.

8. Staff Costs and Employee Benefits

Total
Year
ended
31
December
2020
No.
Average number of persons employed
03
2924
UK Staff costs during the year:
Total
Year
ended
31
December
2019
No.
03
1338

11

LIFE CHANCES CHARITY NUMBER 1172742

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2020

9. Transactions with trustees and related parties

9.1 Trustee remuneration and benefits

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.

9.2 Trustees’ expenses

No trustee expenses have been incurred.

9.3 Transaction(s) with related parties

There have been no related party transactions in the reporting period.

10 TANGIBLE FIXED ASSETS

Computers/
Printers
Filing
Cabinet
Chairs
Tables
Projector
White
Board
Total
COST:
At 31 DECEMBER
2020 1stApril 2020
DEPRECIATION:
Charge for year
At
31
December
2020
NET
BOOK
VALUE
at
01
January
202131
December 2020*		 £
£
1309
0
0
0
0
0
1309
327
0
0
0
0
0
327
327
0
0
0
0
327
982
0
0
0
0
982

12

LIFE CHANCES CHARITY NO 1172742

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2020

11. DEBTORS

None

12. CREDITORS

ne year
DS
Balance at
31 December
2019
3,060		 Incoming
Resources
£42,902		 31
December
2020
31
December
2019
2020
£.
£.
100
0
100
0
Expenditure
Balance at
31
December
2020
£20,465
25,497		 31
December
2020
31
December
2019
2020
£.
£.
100
0		 31
December
2020
31
December
2019
2020
£.
£.
100
0		 31
December
2020
31
December
2019
2020
£.
£.
100
0
100 0
Balance at
31
December
2020
25,497

Amounts falling due within one year Auditing Fees

13. RESTRICTED FUNDS

The restricted fund of the charity is the sum received from funding bodies to support specified projects in London..

14. UNRESTRICTED FUNDS

14.
UNRESTRICTED FUNDS
At 1 April 2020
Addition/Reduction in the period
Transfer of funds (Depreciation)
Balance at 31 December 2020		 General
funds
Designated
funds
£
£
0
0
0
0
0
0		 Total
Funds
£
0
0
0
0
0		 0

The designated fund of the charity is the sum apportioned at the discretion of the Board of Trustees to reflect the charity‟s funds tied up in computer equipment and office materials..

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LIFE CHANCES CHARITY NUMBER 1172742

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2020

15. ANALYSIS OF FUND BALANCES BETWEEN NET ASSETS

Fixed assets
Cash at bank
Cash in hand
Current liabilities		 General
funds
Designated
funds
Restricted
funds
Total
Funds
£
£
£
£
0
982
0
982
0
24,200
24,200
0
0
88
88
0
(100)
(100)		 General
funds
Designated
funds
Restricted
funds
Total
Funds
£
£
£
£
0
982
0
982
0
24,200
24,200
0
0
88
88
0
(100)
(100)
0 982
24,188
25,170

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