## **LIFE CHANCES CHARITY** ## **Camden Spaces 142 Camden Street Office B23 London NW1 9PF Tel 07360511341 Email: belay@lifechance.org Website: www.lifechance.org** **LIFE CHANCES (LC}** **FINANCIAL STATEMENTS** **YEAR ENDED 31 DECEMBER 2024** **REGISTERED CHARITY NUMBER 1172742** -------------------------------------------------------------------------------------------------------------------------------------------------- 1 ## **LIFE CHANCES (LC) CHARITY NUMBER 1172742 LEGAL AND ADMINISTRATIVE DETAILS AS AT 31 DECEMBER 2023** Registered as a charity with the Charity Commission for England and Wales on 25 April 2017. Charity No 1172742 Status: Registered Address: Camden Spaces Office B23 142 Camden Street London London NW1 9PF Executive Director: Belay Gessesse Members of Trustees Trustee Chairman Dr Maknun Gamaladin Ashami Treasurer Mr Yohannes Zewde 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 2024** ## **Report of LIFE CHANCES Board of Trustees** For the year ended 31 December 2024 The board of trustees of Life Chances charity submit herewith the financial statements of the organisation for the year ended 31 December 2024. 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 need in Ethiopia. ## **IN GRATITUDE** 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 contributions of our staff and volunteers have made positive difference to the works of the charity. We are grateful to the invaluable contributions of our members of trustees, staff, volunteers and support group. We wish to extend 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 Cripplegate Foundation, Islington Community Chest and Islington Giving as well as individual contributors. Our achievements presented in this report would not have been possible without their invaluable support. ……………………………….. Dr Maknun Gamaladin Ashami Chairman Life Chances Date: 24[th] of October 2025 3 ## **LIFE CHANCES CHARITY NUMBER 1172742** ## **BOARD OF TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2024** The Board presents its report for the year ended 31 December 2024 ## **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: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue on that basis. ..+ 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 organization and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **The Board of Trustees** **Dr Maknun Gamaladin Ashami, Chairman** **Mr Yohannes Zewde Treasurer** **Mr Assefa Negash Member** **Belay Gessesse Executive Director** **Approved by the Board of Trustees On the 24[th] of October 2025 and signed on its behalf by** **……………… Dr Maknun Gamaldin Ashami Chairman Date: 24[th] of** October 2025 4 **INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS OF LIFE CHANCES** ## **INCOME AND EXPENDITURE ACCOUNT** ## **Report of the LIFE CHANCES trustees/directors of** |**Registered charity number**
**On accounts for the year**
**ended**|1|1|7|2|7|4|2||| |---|---|---|---|---|---|---|---|---|---| ||3|1|1|2|2|0|2|4|| ## **Set out on pages** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31/12/2024 ## **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** I have completed my examination. I confirm that no material matters **examiner’s** have come to my attention which gives me cause to believe that: **statement** • 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. 5 |**Signed**||**Date**|| |---|---|---|---| ||||| |**Name**|||| ||||| |**Relevant professional**
**qualification or body (if**
**any)**|||| ||||| |**Address**|||| ||||| 6 **LIFECHANCES (LC) CHARITY NUMBER 1172742** ## **INCOME AND EXPENDITURE ACCOUNT** ## **For The year ended 31 December 2024** ||**Notes**|**Restricted**
**income**
**funds**|**Unrestricted**
**funds**|**Total**
**funds for**
**Year**
**ended 31**
**December**
**2024**|**Total**
**funds**
**for**
**Year**
**ended**
**31 December 2023**| |---|---|---|---|---|---| |||**£**|**£**|**£**|| |**Incoming Resources**|||||| ||||||| |Grants||**5,500**|**5,000**|**10,500**|**16,900**| |Donations/Collections||**4,100**|**0**|**4,100**|**100**| |Bank Interest||**0**|**0**|**0**|**0**| |Reserve|||||| ||||||| |**Total Incoming**
**Resources**||**9,600**|**5,000**|**14,600**|**17,000**| ||||||| |**Resources expended**|||||| ||||||| |Direct charitable
expenditure||**9,500**|**5,100**|**14,600**|**17,828**| |Indirect
management and
administration
expenditure||**1,391**|**0**|**1,391**|**2,263**| ||||||| |**Summary of Total**
**Resources Expended**||**10,891**|**5,100**|**15,991**|**20,091**| |**Net incoming**
**resources**||**(1,291)**|**(100)**|**(1,391)**|**5,853**| |**Transfer of Funds**
**(Depreciation)**||**0**|**(103)**|**(103)**|**(184)**| |**Balance b/f 31**
**December 2023**||**33,706**|**8,217**|**41,923**|**35,387**| |**FUND BALANCE**||**32,415**|**8,013**|**40,428**|**41,923**| ||||||| 7 ## **LIFE CHANCES** ## **CHARITY NUMBER 1172742** ## **BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024** ||**Notes**|**£**|**At**
**31 December**
**2024**
**£**|**£**|**At**
**31**
**December**
**2023**
**£**| |---|---|---|---|---|---| |**Fixed Assets**|||||| |Tangible Assets|10||311||**414**| ||||||| |**Current Assets:**|||||| |Cash at Bank||**40,267**|||| |Cash in Hand||**100**|||| |**Total**||**40,367**|||| |**Debtors**|11|**0**|||| |**Creditors:**|||||| |(Amounts Falling|||||| |Due Within One Year)||(250)|||**41,923**| ||||**40,117**||| |**NET CURRENT**
**ASSETS**|||||| |**TOTAL NET ASSETS**|||**40,428**||**41,923**| |**FUNDS OF THE**
**CHARITY**|||||| |**Restricted**|13||**32,415**||**32,756**| |**Unrestricted:**|14||||| |Designated|14||**311**||**737**| |General|14||**7,702**||**7,563**| |**FUND BALANCE**|15||**40,428**||**41,056**| 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 24[th] OF OCTOBER 2025** **AND SIGNED ON THEIR BEHALF BY** **…………………………..… Dr Maknun Gamaladin Ashami., Chairman** **DATE OF AUTHENTICATION AND SIGNATURE 24th of October 2025 The notes on pages 9 to 16 form part of these accounts.** 8 ## **LIFE CHANCES CHARITY NUMBER 1172742** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2024** ## **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 Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and - the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102 and - the Charities Act 2011. 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. 9 ## **1.3 Fund Accounting** - a) Income received by way of grants to the charity is included in full in the Income and Expenditure when received. Intangible income is not included unless it represents goods or services which would have otherwise been purchased. - b) Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specific future period, in which case they are deferred. - c) Restricted funds are grants or donations to be used for specific purposes as laid down by the donor. Expenditure which meets the criteria is identified to the fund, together with allocation of overhead costs. - d) Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities. ## **e) Depreciation is provided on all original purchase cost in equal annual instalments over the estimated useful lives of the assets. The rate of depreciation is as follows:** **Project Equipment 25% Computers 25** % - h) Rentals payable under premises rentals, where substantially all the risks and rewards of ownership remain with the renting bodies, are charged to the Income and Expenditure Accounts in the year in which they fall due. 10 ## **LIFE CHANCES (LC) CHARITY NUMBER 1172742** **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2024** ## **2. Grants/Donations** ||**Restricted**
**funds**
**Unrestricted**
**funds**
**Total**
**Year end**
**31 December**
**2024**
**Total**
**Year end**
**31**
**December**
**2023**| |---|---| ||**£**
**£**
**£**
**£**
**London Projects:**
**Cripplegate Foundation**
**5,000**
**5000**
**5,000**
**Islington Community Chest**
**Islington Giving**
**5000**
**500**
**0**
**0**
**5000**
**500**
**6,000**
**0**
**Other**
**4100**
**0**
**4100**
**Reserve**
**5400**
**5400**
**25,944**
**S/Total**
**9600**
**5000**
**14600**
**25,944**| ## **3. Other Income** |**,Individual donation for victims of displacement in**
**Ethiopia**|**4100**| |---|---| |**Total**|**4100**| ||| 11 ## **LIFE CHANCES CHARITY NUMBER 1172742** ## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2024** ## **4** . **INDIRECT MANAGEMENT AND ADMINISTRATION EXPENDITURE** ||**Total**|**Total**| |---|---|---| ||**Year ended**|**Year ended**| ||**31 December**|**31 December**| ||**202**
**4**|**20**
**2**
**3**| ||**£**|**£**| |Coordinator 1 (20%)|**1,316**|**2,454**| |Stationery (10%)|50|99| |Audit Fees (10%)|25|| |Proportion of Venue Hire|18|2,122| |**TOTAL INDIRECT**|**1,391**|**2,454**| ## **4. DIRECT CHARITABLE EXPENDITURE** |**£**|**£**|**£**|**£**| |---|---|---|---| |**Staff Costs**||**Other Costs**|| |**6,579**||**Community gathering Food, drink, venue**
**hire**|**560**| |||**Volunteers subsistence cost**|**688**| |||**Telephone bill+equipment**|**684**| |||**Team capacity building/development cost**|**290**| |||**Annual zoom fee 2024**|**143**| |||**Make It Happen Summer Get Together cost**|**500**| |||**Annual Auditors fee**|**250**| |||**Stationary**|**500**| |||**Transport cost**|**120**| |||**Liability insurance annual fee**|**186**| |||**Ethiopia charity collections returned to the**
**contributors in UK**|**4,100**| |**TOTAL Direct**
**Expenditure**||**Subtotal**|**8,021**| |||**Total**|**14,600**| **TOTAL EXPENDITURE: £14,600 + 1,391 = £15,991** 12 **LIFE CHANCES CHARITY NUMBER 1172742** ## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2024** ## **6. SUMMARY OF TOTAL RESOURCES EXPENDED** |Direct charitable expenditure
Management and administration||**Staff**
**costs**
**Total**
**Year ended**
**31 Dece.**
**202**
**4**
**Total**
**Year**
**ended**
**31**
**Decemb**
**er 2023**
**£**
**£**
**£**
**8071**
**0**
**8021**
13873
**1391**
**0**
**1391**
2,263|**Staff**
**costs**
**Total**
**Year ended**
**31 Dece.**
**202**
**4**
**Total**
**Year**
**ended**
**31**
**Decemb**
**er 2023**
**£**
**£**
**£**
**8071**
**0**
**8021**
13873
**1391**
**0**
**1391**
2,263| |---|---|---|---| |||**9412**
**9412**|20,091| ## **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**
**2024**
**No.**
Number of persons employed
**02**
UK Staff costs during the year:
**8021**|**Total**
**Year**
**ended**
**31**
**December**
**2023**| |---|---| ||**No.**
**02**
**10387**| 13 ## **LIFE CHANCES CHARITY NUMBER 1172742** ## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2024** ## **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 2024
**DEPRECIATION:**
Charge for year*
**NET**
**BOOK**
**VALUE at 31**
**December 2024**|**£**
**£**
414
**0**
**0**
**0**
**0**
**0**
**414**| ||**103**
**0**
**0**
**0**
**0**
**0**
**103**| ||**311**
**0**
**0**
**0**
**0**
**311**| 14 ## **LIFE CHANCES CHARITY NO 1172742** ## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2024** ## **11. DEBTORS** ## None ## **12. CREDITORS** |**Amounts falling due within one year**
Auditing Fees
**13.**
**RESTRICTED FUNDS**
**Balance at**
**31 December**
**202**
**3**
**16,900**|**Incoming**
**Resources**
**26,406**|**31**
**December**
**2024**
**31**
**December**
**2023**
**£.**
**£.**
**250**
**250**
**250**
**250**
**Expenditure**
**Balance at**
**31 December**
**202**
**4**
**10,891**
**32,415**|**31**
**December**
**2024**
**31**
**December**
**2023**
**£.**
**£.**
**250**
**250**|**31**
**December**
**2024**
**31**
**December**
**2023**
**£.**
**£.**
**250**
**250**| |---|---|---|---|---| ||||**250**
**250**|| |||||**Balance at**
**31 December**
**202**
**4**
**32,415**| The restricted fund of the charity is the sum received from funding bodies to support specified projects in London.. ## **14. UNRESTRICTED FUNDS** |At 1 April 2022
Addition/Reduction in the period
Transfer of funds (Depreciation)
**Balance at 31 December 2024**|**General**
**funds**
**Designated**
**funds**
**£**
**£**
**3,730**
**414**
3,972
0
0
(103)|**General**
**funds**
**Designated**
**funds**
**£**
**£**
**3,730**
**414**
3,972
0
0
(103)|**Total**
**Funds**
**£**
**4,144**
3,973
(103)| |---|---|---|---| |||**7,702**
**311**|**8,013**| 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.. 15 ## **LIFE CHANCES CHARITY NUMBER 1172742** ## **NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 December 2024** ## **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
311
0
311
2,000
0
38,267
40,267
0
0
100
100
0
0
(250)
( 250)|**General**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**Total**
**Funds**
**£**
**£**
**£**
**£**
0
311
0
311
2,000
0
38,267
40,267
0
0
100
100
0
0
(250)
( 250)| |---|---|---| ||**2,000**|**311**
**38,117**
**40,428**| 16 (IL4RirY Trustees. Annual Report for the period Period stsrt date Period end date From To ,2024 Section A Reference and administration details LIFE CHANCES Charity name Other names charity is known by LC Registered charity number (if any) 1172742 Charity's principal address Space Camden 142 Camden Street Office B23 London Postcode NW1 9PF Names of the charity trustees who manage the charlty Dates acted if not for whole ear Trustee name Offlce (if any) Name of person (or body) èntitled toa olnt trustee ifan by the trustee body Dr Maknun Gamaladin Ashami Chairman 0410612024 Mr Yohannes Zewde Treasurer 0410612024 by the trustee body By the trustee body Mr Assefa Negash Trustee member Since December 2015 . Names of the trustees for the charity, if any, (for example, any custodian trustees) Name Dates acted if not for whole ear NIA Names and addresses of advisers (Optional infomlation) e of adviser Name Address NIA Name of chief executive or names of senior staff members Ioptional information) Belay Gessesse Section B Structure, governance and mana ement Description of the charity's trusts CIO Foundation Model Type of goveming document How the charity is constituted Trust Trustee selection methods appoi At the beginning, the trustees were appointed by the founders of the charity and the Steering Group. At present new members of trustees are selected and approved by the existing members of trustees. Addltlonal governance issues (Optional infonnation) Essential trustee's guidelines of the Charity Commission was distributed to the charity trustees for their induction and adherence to in the process of the discharge of their responsibilities. You may choose to include additional information, where relevant, about: policies and proCedU￿S 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. Organizational structure of Life Chances is guided by the CIO Foundation Model of the Charity Commission. The charity works with relevant statutory and voluntary organizations. The organizatlon has bullt up partnership working with relevant statutory and non•Statutory organization including but not limited to Islington Community Ches( Crippplegate Foundatlon Refugee Council. Voluntary Action Islington, Islington Giving and Refugee Council, AFLAH Somall Community, NHS Islington and Camden, Diabetes UK etc The trustees adhere to Charity Commission's guidelines (CC26) to manage risks for our charlty. The trustees make periodic review of risks associated with governance, operation, finance. external factors and compliance with the law. The trustee therefore has systems and procedures in place to mitigate and manage risks for the Chari Section C Ob"ectives and activities The relief of the elderly in particular but not exclusively those of the Ethiopian refugee and migrant community, who are in need by reason of ill-health, disability, finanand income generation activities cial hardship or other disadvantage, by the provision of support, infonnation, 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 in the area of benefits who are in need of support by reasons of age, ill health or disability. Life Chance strives to relieve poverty and hardship for the vulnerable persons in Ethiopia through provision of income generation initiatives designed to enable individuals to enerate a sustainable livelihoods. 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 organization 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) Plannin Activities Based on our estsblished objects and availabilities of resources we planned our annual activities at the start of our reporting year by involving our service users, trustees, volunteers and our project steering group. Time and resource bound tasks were assigned to our volunteers and stsff to be undertaken. The director took the responsibility to organise, plan, supervise and manage the day to day activities of the organisation. Our trustees met every quarter to monitor operation of the organisation consistent with the requirements of the regulatory bodies including the Charity Commission. Outreach Activities: To tackle practical needs of our vulnerable service users including the elderty, those living with disability and home bound we mobilised and involved our committed volunteers who provided outreach services for those vulnerable members of our service users. Our activities during the year 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 soclal services, housing, etc. Additional details of objectives and activities (Optional infonnation You may choose to include further statements, where relevant, about.. policy on grantmaking; policy programme related investment,. contribution made by volunteers. Volunteers made considerable contributions to the committed works of our charity at community level. They were recruited, trained, DBS cleared and supervised by the director in the discharges of their responsibilities. We have volunteer policy in place to adhere to. Section D Achievements and performance Summary of the main achievements of the charity during the year Our outreach prograrnme helped reduce social isolation for our vulnerable and home bound service users by mobilizing volunteers and existing resources. Our service users were enabled to access infomiation in their own languages for better understanding of the health and social care system in the UIL The inter-generational dialogue between the elders and the youth better enhanced mutual support and communication between the two age groups. 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 but not limited to Diabetis UK, NHS England, Islington Council, Refvgee Council and the various voluntsry and community organization promoting preventative health infonnation for our service users. With funding support by the Cripplegate Foundation the Chief Executive of Life Chances had the opportunity to develop his organizational, management and fund-raising skills that will help develop the capacity of the charity. The above highlighted achievements would not have been possible without the financial support from our grant providers including Islington Community Ches( Cripplegate Foundation and Islington Communi ..￿and Islington Givin Section E Financial review We recognize the importance of building up reserves to overcome unforeseen financial shortfalls that might face our charity. Following Charity Commission's guidance we have developed reserve policy for our charity aiming to build up resources to tackle unforeseen financial shortfalls which might face our organization in the future. We are actively working on this important task. Brief statement of the charity's policy on reserves Detsils of any funds materially in deficit None whatsoever Further financial review details (Optional infomiation) The charity's principal-sources of funds during the reporting year were from grant making bodies including trusts, Community funders like Islington Community Chest, Islington Giving and Cripplegate Foundation. The project expenditure coupled with volunteer inputs have supported the key objectives of our organization. We are planning to strengthen our fund-raising capacity to better resource our charity to support our vulnerable services users. We are also planning to motivate more volunteers to support the objectives of our charity. You may choose to include additional information. where relevant about: the charity's principal sources of funds (including any fundraising); how expenditure has supported the key objectives of th'e charity., investment policy and objectives including any ethical investment policy adopted. 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) Position (eg Secretsry, Chair, etc) Date Dr Maknun Gamaladin Ashami Chairman 2411012024