REGISTERED COMPANY NUMBER: CE024154 (England and Wales) REGISTERED CHARITY NUMBER: 1191789
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 28 February 2023
for
ELIF (Empowering Lives, Inspiring Faith)
Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ
ELIF (Empowering Lives, Inspiring Faith)
Contents of the Financial Statements for the Year Ended 28 February 2023
| Page | |
|---|---|
| Report of the trustees | 1 to 2 |
| Statement of financial activities | 3 |
| Balance sheet | 4 to 5 |
| Notes to the financial statements | 6 to 10 |
| Detailed statement of financial activities | 11 to 12 |
ELIF (Empowering Lives, Inspiring Faith)
Report of the Trustees for the Year Ended 28 February 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 28 February 2023. The trustees have adopted the provisions of 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 2019).
Objectives and activities
Objectives and aims
To act as a resource for young people living in Greater Manchester by providing advice and assistance and organising programmes of educational, spiritual, physical and other activities as a means of;
a) advancing in life and helping young people by developing their skill capacities and capabilities to enable them to participate in society as independent, mature and responsible individuals;
b) advancing education;
c) providing recreational and leisure time activities in the interests of social welfare for people living in the area of benefit who have need by reason of their youth, age, infirmity or disability, poverty or social and economic circumstances with a view to improving the conditions of life of such persons.
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Reference and administrative details Registered Company number
CE024154 (England and Wales)
Registered Charity number
1191789
Registered office
Unit D Oakfield Road Cheadle Royal Business Park Cheadle Cheshire SK8 3GX
Trustees
H Abod S Alkateb Z Jagani H Ahmad Z Haider
Page 1
ELIF (Empowering Lives, Inspiring Faith)
Report of the Trustees for the Year Ended 28 February 2023
Approved by order of the board of trustees on 30 November 2023 and signed on its behalf by:
H Abod - Trustee
Page 2
ELIF (Empowering Lives, Inspiring Faith)
Statement of Financial Activities
for the Year Ended 28 February 2023
| Period | |||
|---|---|---|---|
| 13.10.20 | |||
| Year ended | to | ||
| 28.2.23 | 28.2.22 | ||
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| Income and endowments from | |||
| Donations and legacies | 25,915 | 21,835 | |
| Expenditure on | |||
| Raising funds | 2 | 4,523 | 13,391 |
| Charitable activities | |||
| Recreational and leisure activites | 15,634 | 6,723 | |
| Other | 1,164 | 1,116 | |
| Total | 21,321 | 21,230 | |
| NET INCOME | 4,594 | 605 | |
| Reconciliation of funds | |||
| Total funds brought forward | 605 | - | |
| Total funds carried forward | 5,199 | 605 |
The notes form part of these financial statements
Page 3
ELIF (Empowering Lives, Inspiring Faith)
Balance Sheet
28 February 2023
| 28.2.23 | 28.2.22 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| Fixed assets | |||
| Tangible assets | 6 | 806 | - |
| Current assets | |||
| Cash at bank | 5,353 | 2,361 | |
| Creditors | |||
| Amounts falling due within one year | 7 | (960) | (1,756) |
| Net current assets | 4,393 | 605 | |
| Total assets less current liabilities | 5,199 | 605 | |
| NET ASSETS | 5,199 | 605 | |
| Funds | 8 | ||
| Unrestricted funds | 5,199 | 605 | |
| Total funds | 5,199 | 605 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 4
ELIF (Empowering Lives, Inspiring Faith)
Balance Sheet - continued
28 February 2023
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30 November 2023 and were signed on its behalf by:
H Abod - Trustee
The notes form part of these financial statements
Page 5
ELIF (Empowering Lives, Inspiring Faith)
Notes to the Financial Statements
for the Year Ended 28 February 2023
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 6
continued...
ELIF (Empowering Lives, Inspiring Faith)
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
2. Raising funds
Raising donations and legacies
| Period | ||
|---|---|---|
| 13.10.20 | ||
| Year ended | to | |
| 28.2.23 | 28.2.22 | |
| £ | £ | |
| Support costs | 4,679 | 13,391 |
| Net income/(expenditure) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| Period | ||
| 13.10.20 | ||
| Year ended | to | |
| 28.2.23 | 28.2.22 | |
| £ | £ | |
| Depreciation - owned assets | 269 | - |
3. Net income/(expenditure)
4. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 28 February 2023 nor for the period ended 28 February 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 28 February 2023 nor for the period ended 28 February 2022.
5. Comparatives for the statement of financial activities
| Comparatives for the statement of financial activities | |
|---|---|
| Unrestricted | |
| fund | |
| £ | |
| Income and endowments from | |
| Donations and legacies | 21,835 |
| Expenditure on | |
| Raising funds | 13,391 |
| Charitable activities | |
| Recreational and leisure activites | 6,723 |
| Other | 1,116 |
continued...
Page 7
ELIF (Empowering Lives, Inspiring Faith)
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
| 5. | Comparatives for the statement of financial activities - continued | ||
|---|---|---|---|
| Unrestricted | |||
| fund | |||
| £ | |||
| Total | 21,230 | ||
| NET INCOME | 605 | ||
| Total funds carried forward | 605 | ||
| 6. | Tangible fixed assets | ||
| Plant and | |||
| machinery | |||
| £ | |||
| Cost | |||
| Additions | 1,075 | ||
| Depreciation | |||
| Charge for year | 269 | ||
| Net book value | |||
| At 28 February 2023 | 806 | ||
| At 28 February 2022 | - |
continued...
Page 8
ELIF (Empowering Lives, Inspiring Faith)
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
| 7. | Creditors: amounts falling due within one year | |||
|---|---|---|---|---|
| 28.2.23 | 28.2.22 | |||
| £ | £ | |||
| Social security and other taxes | - | 640 | ||
| Accrued expenses | 960 | 1,116 | ||
| 960 | 1,756 | |||
| 8. | Movement in funds | |||
| Net | ||||
| movement | At | |||
| At 1.3.22 | in funds | 28.2.23 | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 605 | 4,594 | 5,199 | |
| TOTAL FUNDS | 605 | 4,594 | 5,199 | |
| Net movement in funds, included in the above are as follows: | ||||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 25,915 | (21,321) | 4,594 | |
| TOTAL FUNDS | 25,915 | (21,321) | 4,594 | |
| Comparatives for movement in funds | ||||
| Net | ||||
| movement | At | |||
| in funds | 28.2.22 | |||
| £ | £ | |||
| Unrestricted funds | ||||
| General fund | 605 | 605 | ||
| TOTAL FUNDS | 605 | 605 |
continued...
Page 9
ELIF (Empowering Lives, Inspiring Faith)
Notes to the Financial Statements - continued for the Year Ended 28 February 2023
8. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 21,835 | (21,230) | 605 |
| TOTAL FUNDS | 21,835 | (21,230) | 605 |
9. Related party disclosures
There were no related party transactions for the year ended 28 February 2023.
Page 10
ELIF (Empowering Lives, Inspiring Faith)
| Income and endowments Donations and legacies Donations Grants Total incoming resources Expenditure Charitable activities Sundries Travel & subsistence Computer software Events Support costs Management Wages Social security Telephone Postage, printing & stationery Advertising Staff training Depreciation of equipment Finance Bank charges Governance costs Accountancy and legal fees |
Detailed Statement of Financial Activities for the Year Ended 28 February 2023 Period 13.10.2 0 Year ended to 28.2.23 28.2.22 £ £ 25,915 20,835 - 1,000 25,915 21,835 25,915 21,835 1,743 2,013 2,627 2,456 790 569 8,981 - 14,141 5,038 4,500 12,750 179 641 12 61 542 341 655 211 - 900 269 - 6,157 14,904 15 172 1,008 1,116 |
|---|---|
This page does not form part of the statutory financial statements
Page 11
ELIF (Empowering Lives, Inspiring Faith)
Detailed Statement of Financial Activities for the Year Ended 28 February 2023
| Period | |||
|---|---|---|---|
| 13.10.2 | 0 | ||
| Year ended | to | ||
| 28.2.23 | 28.2.22 | ||
| £ | £ | ||
| Total resources expended | 21,321 | 21,230 | |
| Net income | 4,594 | 605 |
This page does not form part of the statutory financial statements
Page 12