Life Changers Foundation Registered Charity (1183790) ## **Life Changers Foundation** **Charitable Incorporated Organisation (CIO) No: (1183790)** **Trustees’ Report and Financial Statements for the year ended 7 June 2023** Life Changers Foundation Registered Charity (1183790) Page Content Reference and Administrative details of Charity, its Trustees and Advisers Trustees’ Report Statement of Trustees’ Responsibilities Independent Report on the Financial Statements Statement of Financial Activities Notes of the Financial Statements Life Changers Foundation Registered Charity (1183790) ## **Reference and Administrative details of Charity, its Trustees and Advisers** **Trustees** Elvana Tzavara Adewale Adisa Oko-Osi Juliana Morewa Ajala Sherifat Adesunbo Adegbesan **Charitable Incorporated Organisation (CIO) registration number: 1183790 Registered office** 10 Jackson Street London SE18 4EU **Adviser** Novelty Business Solution Limited Suite 124, Island Business Centre 18-36 Wellington Street Woolwich London SE18 6PF **Banker** Natwest Bank Woolwich Branch 1-7 Powis Street London SE18 6LE Life Changers Foundation Registered Charity (1183790) ## **Trustees’ Report** The Trustees of Life Changers Foundation presents their report together with the financial Statement for the year ended 7 June 2023 ## **Principal activities** The principal activity of the Charity in the year under the review was that of the provision of information, advice and support, training and assistance to unemployed persons, people from disadvantaged communities. ## **Trustees** The Trustees of the Charity who held office during the year and too the date of this report are disclosed on page 1. ## **Management** The management consist of the Trustees (who are not remunerated); the day-to-day management of the Charity is the responsibility of the Trustees and other dedicated volunteers. Volunteers are the ones that get remuneration for the expenses and training offered in other for them to be able to carry out their activities. ## **Operational structure** All programs of work are managed by the project manager (a volunteer and Trustees). The Trustees provides support and oversight of project and ensures that standards are maintained. Trustees also take the lead on applying for grants, sponsorship, funding, strategic planning and monitoring and evaluation of projects with the organisation. ## **Life Changers Foundation and other Charities / organisation** Life Changers Foundation is committed to fulfilling its objectives through collaboration and partnership with a range of local, national, and international organizations and government agencies. While engaging in these partnerships, the Foundation maintains a strong emphasis on addressing the needs of the communities within the London region, where it operates. By leveraging the collective resources and expertise of its partners, the Foundation is better able to support its mission and make a positive impact on the lives of those it serves. Through strategic partnerships and a commitment to its local communities, Life Changers Foundation is dedicated to achieving its goals and making a meaningful difference in the world. Life Changers Foundation Registered Charity (1183790) ## **Principal Risks and Uncertainties Facing the Life Changers Foundation** ## **Cost of Living Crisis** The Life Changers Foundation is currently facing a significant challenge in the form of a cost-of-living crisis. This is affecting not only the Foundation itself, but also its beneficiaries, suppliers, and resources. Inflation is driving up the cost of essentials such as food and energy, and this is having a sharp impact on both the Foundation and the people it supports. As a result, the Foundation is seeing an increase in demand for food and other support services. However, the costs of providing these services are also increasing, with suppliers such as IT and fundraising raising their prices by over 9%. Utilities are also becoming more expensive, and the cost of stationery and other resources is increasing in line with or above inflation. All of this is putting pressure on the Foundation's finances and making fundraising more difficult. ## **Response** To manage these risks and uncertainties, the Life Changers Foundation has a coordinated management structure in place. All volunteers take responsibility for the morale and attitude to work within teams, with goals and targets being supported by the CEO. The Foundation also has a dedicated volunteer who manages its social media presence, coordinating the release of content with the support of the Trustees who share the responsibility of social media. While the Foundation is currently using reserves to provide essential services during the cost-of-living crisis, it recognizes that this is not a sustainable solution and will need to manage its budgets extremely well during the coming year. Overall, the Foundation remains committed to its mission of providing support and assistance to those in need and will continue to work tirelessly to achieve this goal despite the challenges it faces. ## **Objectives and Activities of the Life Changers Foundation** Life Changers Foundation is a charitable organization that is guided by its Constitution. The Foundation's charitable objects are to provide relief of unemployment for the benefit of the public in ways that may be deemed appropriate, including providing training and other assistance to help people find employment, as well as to provide relief of poverty, particularly among unemployed individuals. In June 2022, the Life Changers Foundation's Board of Trustees revised the Vision and Value statements after consulting with staff and volunteers. The new statements are as follows: Life Changers Foundation Registered Charity (1183790) ## **Vision** "Transforming lives through kindness, belief, hope." ## **Values** The Life Changers Foundation offers a range of interventions that are underpinned by the values of Kindness, Belief, and Hope. These values are expressed as follows: ## **Kindness** - Embracing diversity and loving every person for who they are - Building every person's confidence in their unique capabilities honestly ## **Belief** - Believing in the potential of each and every member of our diverse community - Persevering alongside people through every challenge ## **Hope** - Starting, living, and ending every diverse and unique encounter with hope These values form the basis of the Foundation's culture. The Foundation recognizes that people can only make progress when they feel safe to make mistakes and that they must feel supported, not judged. The Foundation defines success by the richness of the journey, not just the destination achieved. In summary, the Life Changers Foundation is committed to providing support and assistance to those in need, with a focus on relieving unemployment and poverty. The Foundation's Vision and Value statements guide its activities and operations, ensuring that kindness, belief, and hope are central to everything it does. Life Changers Foundation Registered Charity (1183790) ## **Respect, Culture, and Uniqueness of Life Changers Foundation** ## **Respect** The Life Changers Foundation values the respect of all beneficiaries, provided that they treat members of staff in the same manner. This culture of mutual respect is one that the Foundation seeks to promote in all of its interactions with beneficiaries. While many of the Foundation's beneficiaries may have suffered from the consequences of wrong decisions or missed opportunities in the past, the Foundation focuses on understanding their current needs and goals, rather than judging their past. The Foundation recognizes that progress is not always a straight line and that perseverance is key to helping beneficiaries overcome challenges. ## **Uniqueness** The Life Changers Foundation seeks to serve people in a way that empowers them to gain control of their lives. While the Foundation operates primarily in Woolwich, it has outreach across the Royal Borough of Greenwich and other communities in London. The Foundation's aim is to provide a service that meets the needs of its beneficiaries, whether they are looking for work, friendship, or support during a time of crisis. The Foundation believes that the experience of its beneficiaries is just as important as the services it provides, and aims to demonstrate kindness, belief, and hope to everyone who comes into contact with the Life Changers Foundation. ## **Charitable Objectives** The Life Changers Foundation has two main charitable objectives. The first is to address the multiple needs of all involved and work towards their social inclusion through the development and delivery of holistic projects. The second is to work with and support other local community organizations in meeting the practical needs of the community. The Foundation seeks to achieve these objectives by partnering with local organizations and advocating for the needs of its beneficiaries on a local and national level. ## **Progress towards Objectives during 2023 - 2024** In 2023, the Life Changers Foundation made significant strides towards its objectives amid a changing landscape. As the country transitioned into a post-pandemic era, the Foundation adapted its strategies to address evolving societal needs. Recognizing the lingering effects of the pandemic, such as decreased wellbeing and heightened living costs, the Foundation refined its focus on social inclusion. This included a renewed emphasis on developing holistic projects tailored to the needs of its beneficiaries. Life Changers Foundation Registered Charity (1183790) Throughout 2023 and into 2024, the Foundation deepened its partnerships with local organizations, leveraging these alliances to amplify its impact on the community. Collaborative efforts ranged from joint awareness campaigns to shared resource initiatives, all aimed at fostering greater social inclusion and opportunity. By aligning its projects and partnerships with the current socioeconomic landscape, the Foundation made tangible progress in enhancing the lives of those it serves. This progress was marked by measurable improvements in wellbeing indicators and increased access to essential services for its beneficiaries. Looking ahead, the Foundation remains steadfast in its commitment to promoting social inclusion and empowering individuals to thrive in a post-pandemic society. Through continued collaboration and innovative project development, the Life Changers Foundation is poised to achieve even greater strides in the coming years. ## **Future Plans for the Life Changers Foundation** Looking ahead to 2022 and 2023, the Life Changers Foundation is poised for significant growth and impact. Building on the updated Mission and Vision from 2021, the Foundation is doubling down on its efforts to combat the poverty of opportunity across its projects and initiatives. One of the primary goals for this period is to enhance the range of interventions and awareness campaigns targeting this issue. By delving deeper into the challenges faced by individuals in areas like Woolwich, the Royal Borough of Greenwich, and nearby boroughs, the Foundation aims to create tailored solutions that address root causes effectively. Recognizing that many individuals seeking support face multiple barriers, the Foundation plans to intensify its holistic approach. This includes not only establishing new projects but also optimizing internal referrals and external signposting to relevant resources. This holistic strategy has already positioned the Foundation as a vital information hub for its beneficiaries, and expanding this model is key to reaching even more people in need. Central to the Foundation's plans is the expansion of its hub model across all services. By consolidating information and resources in accessible hubs, the Foundation can streamline support delivery and ensure a more comprehensive impact. Collaborating with existing partners and forging new alliances will also be pivotal in amplifying these efforts and extending the Foundation's reach. In summary, the Life Changers Foundation is gearing up to meet community needs head-on through holistic support, targeted interventions, and strategic partnerships. With a steadfast focus on Life Changers Foundation Registered Charity (1183790) addressing the poverty of opportunity, these plans aim to make a tangible and enduring difference in the lives of individuals and families served by the Foundation. ## **ACCOUNTS FOR THE PERIOD** ## **for the year ended 7 June 2023** |
**Income**
General Donations
**Expenditure**
Administrative Cost
Volunteer Expenses
Other Travel & Subsistence
Evaluation
Household Essentials for Distribution
Website Development and Hosting

TOTAL EXPENDITURE
**SURPLUS FOR THE YEAR**|Funds Funds
2022 2023
£17,150 £1800| |---|---| ||£17,150 £1800| ||Funds Funds
2022 2023
£2,050 £280
£120 £50
£500 £130
£300
£13,500 £890
£0.00 £0.00| ||£16,470 £1350| ||£680 £450| Life Changers Foundation Registered Charity111837901 Approved Trustee Date