Charity Registration No. 1106717
Company Registration No. 5085586 (England and Wales)
EMPOWERED LIVING FOUNDATION LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
EMPOWERED LIVING FOUNDATION LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs K Dahya
Mr A Dahya
Charity number
1106717
Company number
5085586
Registered office
C/o Aniz Visram Accountancy Services Ltd
32a Hampton Lane
Solihull
West Midlands
B91 2PY
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
EMPOWERED LIVING FOUNDATION LTD
CONTENTS
Page
Trustees' report
1 - 2
Accountants' report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 9
EMPOWERED LIVING FOUNDATION LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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

The charity's objects are to advance the education of the public in the subject of self development and health care using natural holistic approaches that engage the body, mind and spirit and to promote racial harmony.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The charity is not currently active and is currently considering future opportunities with which to become involved.

Financial review

The donations received are currently covering the ongoing costs of the charity as shown in the statement of financial activities and the balance sheet.

As the charity currently has no ongoing activity it requires very little reserves to cover such costs. As activities increase in the future a formal policy for the level of reserves to be retained will be agreed upon by the trustees.

The charity seeks donations to cover its costs but is not currently in a position to advance any grants due to insufficient funds.

Structure, governance and management

The charity is a company limited by guarantee.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Mrs K Dahya
Mr A Dahya
EMPOWERED LIVING FOUNDATION LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
Statement of trustees' responsibilities

The trustees, who are also the directors of Empowered Living Foundation Ltd for the purpose of company law, 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).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

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

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees' report was approved by the Board of Trustees.

Mrs K Dahya
Trustee
22 January 2024
EMPOWERED LIVING FOUNDATION LTD
CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EMPOWERED LIVING FOUNDATION LTD FOR THE YEAR ENDED 31 MARCH 2023
- 3 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Empowered Living Foundation Ltd for the year ended 31 March 2023, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation

This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 10 June 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Empowered Living Foundation Ltd and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Empowered Living Foundation Ltd and the charity's trustees as a body, for our work or for this report.

It is your duty to ensure that Empowered Living Foundation Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Empowered Living Foundation Ltd. You consider that Empowered Living Foundation Ltd is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.}

We have not been instructed to carry out an audit or a review of the financial statements of Empowered Living Foundation Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
22 January 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
EMPOWERED LIVING FOUNDATION LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
Unrestricted
Unrestricted
funds
funds
2023
2022
Notes
£
£
Income from:
Donations and legacies
3
260
240
Expenditure on:
Charitable activities
4
252
246
Net income/(expenditure) for the year/
Net movement in funds
8
(6)
Fund balances at 1 April 2022
1
7
Fund balances at 31 March 2023
9
1

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
EMPOWERED LIVING FOUNDATION LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 5 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
8
310
290
Cash at bank and in hand
101
101
411
391
Creditors: amounts falling due within one year
9
(402)
(390)
Net current assets
9
1
Income funds
Unrestricted funds
9
1
9
1

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 22 January 2024
Mrs K Dahya
Trustee
Company Registration No. 5085586
EMPOWERED LIVING FOUNDATION LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
1
Accounting policies
Charity information

Empowered Living Foundation Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is C/o Aniz Visram Accountancy Services Ltd, 32a Hampton Lane, Solihull, West Midlands, B91 2PY.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5
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 costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources.

1.6
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

EMPOWERED LIVING FOUNDATION LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 7 -
1.7
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

EMPOWERED LIVING FOUNDATION LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
3
Donations and legacies
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Donations and gifts
260
240
4
Charitable activities
2023
2022
£
£
Share of governance costs (see note 5)
252
246
5
Support costs
Support costs
Governance costs
2023
Support costs
Governance costs
2022
£
£
£
£
£
£

Accountancy fees

-
252
252
-
246
246
-
252
252
-
246
246
Analysed between
Charitable activities
-
252
252
-
246
246
6
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
EMPOWERED LIVING FOUNDATION LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 9 -
7
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Total
-
0
-
0
There were no employees whose annual remuneration was more than £60,000.
8
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
310
290
9
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
96
96
Accruals and deferred income
306
294
402
390
10
Related party transactions

During the year the charity received donations from trustees amounting to £260 (2022: £240). The amount outstanding at the year end was £310 (2022: £290).

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